EX-10 12 qr-ex1011toform8k_7390342v2.txt EXHIBIT 10.11 - WAIVER AND AMEND NO 1 EXECUTION COPY WAIVER AND AMENDMENT NO. 1 Dated as of December 22, 2006 to THIRD LIEN TERM LOAN AGREEMENT Dated as of June 9, 2006 THIS WAIVER AND AMENDMENT NO. 1 ("Amendment") is made as of December 22, 2006 by and among Quest Cherokee, LLC ("Quest Cherokee") and Quest Resource Corporation ("QRC"), as borrowers (the "Borrowers"), the financial institutions from time to time parties thereto (the "Lenders") and Guggenheim Corporate Funding, LLC, as administrative agent (the "Administrative Agent") under that certain Third Lien Term Loan Agreement dated as of June 9, 2006 by and among the Borrowers, the Lenders and the Administrative Agent (as amended, restated or otherwise modified from time to time, the "Credit Agreement"). Defined terms used herein and not otherwise defined herein shall have the respective meanings given to them in the Credit Agreement. WHEREAS, the Borrowers have entered into that certain Contribution, Conveyance and Assumption Agreement, dated as of December 22, 2006 (as in effect on the date hereof, the "Contribution Agreement"), among the Borrowers, Bluestem Pipeline, LLC ("Bluestem"), Quest Midstream Partners, L.P. ("MLP"), Quest Midstream GP, LLC ("GP"), STP Cherokee, LLC, Quest Oil & Gas, LLC, Quest Energy Service, LLC, Ponderosa Gas Pipeline Company, LLC, Producers Service, LLC, and J-W Gas Gathering, L.L.C., pursuant to which one hundred percent (100%) of the outstanding Equity Interests of Bluestem will be contributed to MLP, a copy of which is attached hereto as Annex A; WHEREAS, in connection with the transactions contemplated by the Contribution Agreement, MLP will issue 4,864,866 common units of the MLP representing an approximate 48.64% interest in the MLP and GP will issue 150 units of the GP representing a 15% interest in the GP to certain institutional investors for approximately $90 million pursuant to the terms of a Purchase Agreement (a copy of which is attached hereto as Annex C) among MLP, GP, QRC and the institutional investors named therein (the "Purchase Agreement"; the transactions contemplated by the Contribution Agreement and the Purchase Agreement are referred to herein as the "Midstream Transaction"); WHEREAS, the Borrowers have requested that each Lender consent to the consummation of the Midstream Transaction and waive compliance with any violation of the Credit Agreement or the other Loan Documents that arises from consummation of the Midstream transaction pursuant to the Contribution Agreement, the Purchase Agreement and the other Transaction Documents (as defined in the Purchase Agreement); WHEREAS, the Lenders consent to the consummation of the Midstream Transaction and waive compliance with any violation of the Credit Agreement or the other Loan Documents that arises from consummation of the Midstream Transaction pursuant to the Contribution Agreement, the Purchase Agreement and the other Transaction Documents on the terms and conditions set forth herein; WHEREAS, Bluestem and certain other Subsidiaries of the Borrowers are parties to that certain Guaranty dated as of June 9, 2006 (as amended, restated, supplemented or otherwise modified prior to the date hereof, the "Guaranty") in favor of the Administrative Agent; WHEREAS, the parties hereto have agreed to amend and restate the Guaranty in its entirety pursuant to that certain Amended and Restated Guaranty dated as of December 22, 2006 (as the same may be amended, restated, supplemented or otherwise modified from time to time, the "Amended Guaranty"); WHEREAS, the Borrowers and the Guarantors, as pledgors, and the Administrative Agent are parties to that certain Security Agreement dated as of June 9, 2006 (as amended, restated, supplemented or otherwise modified prior to the date hereof, the "Security Agreement"); WHEREAS, the parties hereto have agreed to amend and restate the Security Agreement in its entirety pursuant to that certain Amended and Restated Security Agreement dated as of December 22, 2006 (as amended, restated, supplemented or otherwise modified from time to time, the "Amended Security Agreement"); WHEREAS, Section 12.02(b) of the Credit Agreement, Section 12 of the Guaranty and Section 11.5 of the Security Agreement require the written consent of each Lender in connection with the release of any Guarantor under the Loan Documents; WHEREAS, the Borrowers have requested that each Lender consent to authorize the Administrative Agent to (A) release Bluestem from its obligations under the Guaranty, the Security Agreement and the other Loan Documents to which it is a party, (B) release all liens and security interests granted to or held by the Administrative Agent in the assets of Bluestem, (C) release the lien and security interests granted to or held by the Administrative Agent in 100% of the Equity Interests of Bluestem, and the Lenders have agreed to provide such consent on the terms and conditions set forth herein, and (D) enter into (i) the Amended Guaranty and (ii) the Amended Security Agreement; and WHEREAS, the Borrowers, the Lenders party hereto and the Administrative Agent have agreed to amend the Credit Agreement on the terms and conditions set forth herein. NOW, THEREFORE, in consideration of the premises set forth above, the terms and conditions contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Borrowers, the Lenders party hereto and the Administrative Agent hereby agree as follows. 2 1. Waiver. Subject to the satisfaction of the conditions precedent set forth in Section 5 below, each Lender hereby agrees to waive any violation of the Credit Agreement or the other Loan Documents that results from consummation of the transaction described in the Contribution Agreement, the Purchase Agreement and the other Transaction Documents and consents to (i) the consummation of the Midstream Transaction pursuant to (and in accordance with the Contribution Agreement and the Purchase Agreement ) and (ii) the other transactions contemplated by the other Transaction Documents pursuant to (and in accordance with) such other Transaction Documents. 2. Guaranty and Loan Documents. Upon the effectiveness of this Amendment and upon (i) the consummation of the Midstream Transaction, and (ii) the other transactions contemplated by the other Transaction Documents, in each case pursuant to (and in accordance with) the Contribution Agreement, the Purchase Agreement and the other Transaction Documents, each Lender hereby authorizes the Administrative Agent to (A) release Bluestem from its obligations under the Guaranty, the Security Agreement and the other Loan Documents to which it is a party, (B) release all liens and security interests granted to or held by the Administrative Agent in the assets of Bluestem, (C) release the liens and security interests granted to or held by the Administrative Agent in 100% of the Equity Interests of Bluestem, and (D) enter into (i) the Amended Guaranty and (ii) the Amended Security Agreement. 3. Amendments to Credit Agreement. Subject to the satisfaction of the conditions precedent set forth in Section 5 below, the Credit Agreement is hereby amended as follows: (a) Section 1.01 of the Credit Agreement is hereby amended by deleting the definition of "Guarantors" now contained therein and to substitute the following therefor: "Guarantors" means, each of the following: STP Cherokee, LLC, Quest Oil & Gas, LLC, Quest Energy Service, LLC, Ponderosa Gas Pipeline Company, LLC, Producers Service, LLC, J-W Gas Gathering, L.L.C. and Quest Cherokee Oilfield Service, LLC. (b) Section 1.01 of the Credit Agreement is hereby amended to delete the definition of "Pipeline" now contained therein and to substitute the following therefor: "Pipeline" means any pipeline owned and operated by the Borrowers or their Subsidiaries. (c) Section 1.01 of the Credit Agreement is hereby amended to delete the last sentence of the definition of "Subsidiary" now contained therein and to substitute the following therefore: "Unless otherwise indicated herein, each reference to the term `Subsidiary' shall mean a Subsidiary of one of the Borrowers; provided however, that for the purposes of this Agreement, `Subsidiary' shall not include Quest Midstream Partners, Quest Midstream GP, or their respective subsidiaries." 3 (d) Section 1.01 of the Credit Agreement is hereby amended to add the following sentence at the end of the definition of "Consolidated Net Income" now contained therein: "Notwithstanding the foregoing, the net income or loss of Quest Midstream Partners, Quest Midstream GP and their subsidiaries shall not be included in the Consolidated Net Income of Borrowers even though such net income or loss is consolidated with the net income or loss of Borrowers for purposes of GAAP, except to the extent of the amount of dividends or distributions actually paid in cash during such period by Quest Midstream Partners, Quest Midstream GP or their subsidiaries to Borrowers or their Consolidated Subsidiaries, as the case may be." (e) Section 1.01 of the Credit Agreement is hereby amended to include the following definitions in the appropriate alphabetical order: "Contribution Agreement" means that certain Contribution, Conveyance and Assumption Agreement, dated as of December 22, 2006, among the Borrowers, Bluestem Pipeline, LLC, Quest Midstream Partners, Quest Midstream GP, STP Cherokee, LLC, Quest Oil & Gas, LLC, Quest Energy Service, LLC, Ponderosa Gas Pipeline Company, LLC, Producers Service, LLC, and J-W Gas Gathering, L.L.C., attached hereto as Exhibit H. "Pledged Interests" shall have the meaning set forth in the Security Agreement. "Purchase Agreement" means that certain Purchase Agreement, dated as of December 22, 2006, among Quest Midstream Partners, Quest Midstream GP, QRC and the institutional investors named therein, attached hereto as Exhibit I. "Quest Midstream Partners" means Quest Midstream Partners, L.P., a Delaware limited partnership. "Quest Midstream GP" means Quest Midstream GP, LLC, a Delaware limited liability company. "Restrictions on Pledged Interests" means, with respect to Pledged Interests in Quest Midstream Partners and Quest Midstream GP, rights and claims of third parties to such Pledged Interests created under the organizational documents of Quest Midstream Partners or Quest Midstream GP or under the Investors' Rights Agreement (as defined in the Purchase Agreement). "Transaction Documents" shall have the meaning set forth in the Purchase Agreement. 4 (f) Section 9.03 of the Credit Agreement is hereby amended to add the following clause (j) immediately after the existing clause (i): "(j) Restrictions on Pledged Interests." (g) Section 3.04(a)(ii) is hereby amended by deleting the current text of and substituting the following therefore: (ii) at any time after the first anniversary of the Effective Date, optional prepayments shall be made at the prices (expressed as percentages of the outstanding principal amount) set forth below, if prepaid during each successive 12-month period beginning on June 10 of each year indicated below: Year Prepayment Price ----------- ------------------ 2007 102.5% 2008 101.25% 2009 100.5% 2010 and thereafter 100% provided that, in any event, each prepayment is in an amount that is an integral multiple of $1,000,000 and not less than $1,000,000, or if such amount is less than $1,000,000, the outstanding principal amount of the Loans. Accrued and unpaid interest on the principal amount prepaid, all outstanding and unpaid fees and expenses, and the prepayment price set forth in this Section 3.04(a), shall be paid on the prepayment date. (h) Section 9.05 of the Credit Agreement is hereby amended to add the following clause (n) immediately after the existing clause (m): "(n) Those transactions contemplated by the Contribution Agreement, the Purchase Agreement and the other Transaction Documents." (i) Section 9.12 of the Credit Agreement is hereby amended to (i) delete the word "and" before clause (e) appearing therein and (ii) insert the following clause (f) at the end thereof: "; and (f) sales contemplated under the Purchase Agreement and the other Transaction Documents." (j) Section 9.14 clause (a) of the Credit Agreement is hereby amended and restated in its entirety as follows: "(a) Investments under Section 9.05(i) and (n)" 5 (k) Section 9.14 of the Credit Agreement is hereby further amended to delete the word "and" before clause (c) appearing therein and insert the following clause (d) to the end thereof: ", and (d) the transactions contemplated by the Contribution Agreement, the Purchase Agreement and the other Transaction Documents." (l) Section 9.16 of the Credit Agreement is hereby amended to delete the period appearing at the end of such section and insert the following: ", other than the Restrictions on Pledged Interests." (m) The Credit Agreement is hereby amended to add a true and correct copy of the Contribution Agreement as Exhibit H to the Credit Agreement. (n) The Credit Agreement is hereby amended to add a true and correct copy of the Purchase Agreement as Exhibit I to the Credit Agreement. (o) The Schedules to the Credit Agreement are hereby amended by deleting the existing Schedules and substituting the attached Annex B therefore. 4. Amendment Fee. In consideration for the Lenders' consent to this Amendment, the Borrowers hereby agree to pay to the Administrative Agent, for the benefit of the Lenders under the Credit Agreement, a fee equal to 1.00% of the aggregate amount of each Lender's Commitment. The Borrowers further agree to convey to the Administrative Agent, for the benefit of the Lenders under the Credit Agreement, 82,500 shares of restricted stock of QRC (the "Restricted Shares") in further consideration of its consent to this Amendment. QRC shall file a registration statement with respect to the Restricted Shares with the Securities and Exchange Commission as soon as reasonably practicable, but in no event later than January 19, 2007. 5. Conditions of Effectiveness. The effectiveness of this Amendment is subject to the satisfaction of the conditions precedent that the Administrative Agent shall have received (i) counterparts of this Amendment duly executed by the Borrowers, the Lenders and the Administrative Agent, (ii) the payment of all fees in accordance with this Amendment and (iii) each of the documents listed on Annex D attached hereto. 6. Representations and Warranties of the Borrowers. The Borrowers hereby represent and warrant as follows: (a) This Amendment and the Credit Agreement as amended hereby, constitute legal, valid and binding obligations of the Borrowers and are enforceable against the Borrowers in accordance with their terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors' rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law. 6 (b) As of the date hereof and giving effect to the terms of this Amendment, (i) there exists no Default or Event of Default and (ii) the representations and warranties of the Borrowers set forth in the Credit Agreement and each other Loan Document shall be true and correct in all material respects as of the date hereof (except those representations and warranties which are limited to a specific date, which are true and correct in all material respects as of such date and those representations and warranties already qualified with respect to materiality, which shall be true and correct in all respects). 7. Reference to and Effect on the Credit Agreement. (a) Upon the effectiveness of this Amendment, each reference to the Credit Agreement in the Credit Agreement or any other Loan Document shall mean and be a reference to the Credit Agreement as amended hereby. (b) Except as specifically amended above, the Credit Agreement and all other documents, instruments and agreements executed and/or delivered in connection therewith shall remain in full force and effect and are hereby ratified and confirmed. (c) The execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of the Administrative Agent or the Lenders, nor (except as expressly provided herein) constitute a waiver of any provision of the Credit Agreement or any other documents, instruments and agreements executed and/or delivered in connection therewith. 8. Governing Law. THIS AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK. 9. Headings. Section headings in this Amendment are included herein for convenience of reference only and shall not constitute a part of this Amendment for any other purpose. 10. Counterparts. This Amendment may be executed by one or more of the parties hereto on any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument. [Signature Pages Follow] 7 IN WITNESS WHEREOF, this Amendment has been duly executed as of the day and year first above written. BORROWERS: QUEST CHEROKEE, LLC By: /s/ Jerry D. Cash ------------------------------------- Jerry D. Cash Chief Executive Officer and President QUEST RESOURCE CORPORATION By: /s/ Jerry D. Cash ------------------------------------- Jerry D. Cash Chief Executive Officer and President ADMINISTRATIVE AGENT: GUGGENHEIM CORPORATE FUNDING, LLC, as Administrative Agent, Syndication Agent, Sole Lead Arranger and Sole Bookrunner By: /s/ Todd Boehly ------------------------------------- Name: Todd Boehly Title: Managing Partner LENDERS: MA DEEP EVENT, LTD By: /s/ Jeffrey Golbus ------------------------------------- Name: Jeffrey Golbus Title: Assistant Portfolio Manager LENDERS: COPPER RIVER CLO LTD. By: Guggenheim Investment Management, LLC as Manager By: /s/ Michael Damaso ------------------------------------- Name: Michael Damaso Title: Managing Director LENDERS: ORPHEUS HOLDINGS LLC By: Guggenheim Investment Management, LLC as its Manager By: /s/ Michael Damaso ------------------------------------- Name: Michael Damaso Title: Managing Director LENDERS: KENNECOTT FUNDING LTD. By: Guggenheim Investment Management, LLC as Collateral Manager By: /s/ Michael Damaso ------------------------------------- Name: Michael Damaso Title: Managing Director LENDERS: SANDS POINT FUNDING LTD. By: Guggenheim Investment Management, LLC as Collateral Manager By: /s/ Michael Damaso ------------------------------------- Name: Michael Damaso Title: Managing Director LENDERS: ORPHEUS FUNDING LLC By: Guggenheim Investment Management, LLC as Manager By: /s/ Michael Damaso ------------------------------------- Name: Michael Damaso Title: Managing Director LENDERS: DEL MAR MASTER FUND LTD. By: /s/ Marc V. Simons ------------------------------------- Name: Marc V. Simons Title: Director LENDERS: GRAND CENTRAL ASSET TRUST, DHV SERIES By: /s/ Janet Haack ------------------------------------- Name: Janet Haack Title: As Attorney In Fact LENDERS: NZC OPPORTUNITIES LLC By: Guggenheim Investment Management, LLC as Manager By: /s/ Michael Damaso ------------------------------------- Name: Michael Damaso Title: Managing Director LENDERS: GRAND CENTRAL ASSET TRUST, ARL SERIES By: /s/ Janet Haack ------------------------------------- Name: Janet Haack Title: As Attorney In Fact LENDERS: GREEN LANE CLO LTD. By: Guggenheim Investment Management, LLC as Manager By: /s/ Michael Damaso ------------------------------------- Name: Michael Damaso Title: Managing Director LENDERS: STELLAR FUNDING, LTD. By: Guggenheim Investment Management, LLC as Manager By: /s/ Michael Damaso ------------------------------------- Name: Michael Damaso Title: Managing Director Annex A to Waiver and Amendment No. 1 to the Amended and Restated Third Lien Term Loan Agreement Contribution Agreement [Attached as Exhibit 10.5 to Form 8-K filed by Quest Resource Corporation on December 29, 2006] Annex B to Waiver and Amendment No. 1 to the Amended and Restated Third Lien Term Loan Agreement Schedules to Credit Agreement Schedule 7.03 ------------- Consents and Approvals None. Schedule 7.05 ------------- Litigation None, other than those disclosed in QRC's filings with the Securities and Exchange Commission. Schedule 7.14 ------------- Liens
------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- ORIGINAL BORROWER PRINCIPAL LENDER AMOUNT COLLATERAL NEGATIVE PLEDGE ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- Quest Energy Service, Inc. Merle Kelly Ford, Inc. $22,139.00 2002 Ford F-150 Must keep vehicle "free from the claims of others" ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- Used 2003 Ford F-250 Must keep vehicle "free from Quest Energy Service, Inc. Merle Kelly Ford, Inc. $21,930.22 Truck the claims of others" ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- $19,393.65 (36 month Equipment Lease. - lessee Quest Cherokee Oilfield term ($2,000 2005 Ford F-150 does not have any "right, Service, LLC (Lessee) Total Leasing (Lessor) residual Truck (leased title or interest in the value at end vehicle) vehicle" of 36 months) ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- 2004 Toyota Tacoma along with any accessories and equipment installed Quest Energy Service, Inc. Quality Toyota, Inc. $26,358.88 in the vehicle and May not sell or transfer the any replacement vehicle without Seller's parts installed in prior written consent. the vehicle ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- 2000 Ford Truck Super Duty 8800 and all goods put on the Quest Energy Service, Inc. Merle Kelly Ford, Inc. $39,493.08 vehicle as well as all money or goods Must keep vehicle "free from received from the the claims of others" vehicle ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- Quest Energy Service, Inc. Merle Kelly Ford, Inc. $33,329.69 2001 Ford Truck Must keep vehicle "free from F-150 Crew and all the claims of others" parts or ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- ORIGINAL BORROWER PRINCIPAL LENDER AMOUNT COLLATERAL NEGATIVE PLEDGE ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- other goods put on the vehicle and all money or goods received for the vehicle ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- Equipment Lease. - lessee Quest Cherokee Oilfield $19,393.65 does not have any "right, Service, LLC. (Lessee) (original title or interest in the Total Leasing (Lessor) value) 2005 Ford F-150 Truck vehicle" ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- 2003 Toyota Tacoma Truck and all Quest Energy Service, Inc. accessories May not sell or transfer the Bartlesville Ford Co., Inc. $20,599.92 installed in the vehicle without Seller's vehicle and proceeds prior written consent. ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- 2004 Ford Truck Must keep vehicle "free from Quest Energy Service, Inc. Merle Kelly Ford, Inc. $37,784.90 Super Duty the claims of others" ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- 2004 Chevrolet Borrower may not "transfer Quest Cherokee Oilfield Silverado C1500, any interest" in the vehicle Service, LLC Romans Motor Co., Inc. $22,907.31 extended cab and without prior written proceeds consent. ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- Accounts receivable, equipment, inventory and real estate (see Schedule attached to agreement). Per Security Agreement, Yates Center Branch Bank Mortgage given on debtor may not encumber any Quest Energy Service, Inc. (branch of Girard National $440,000 all debtor's real of the collateral without Bank, Inc.) estate located in secured party's prior Wilson County, written consent Kansas. Assignment of Doug Lamb life insurance policy. ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- ORIGINAL BORROWER PRINCIPAL LENDER AMOUNT COLLATERAL NEGATIVE PLEDGE ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- Borrower shall not create any lien or security interest or other encumbrance on the Quest Energy Service, Inc. Used, D5H collateral and doing so by Caterpillar Financial Caterpillar Borrower constitutes an Services Corporation $67,078.87 Track-Type Tractor event of default under the agreement. ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- Borrower agrees to keep the Quest Energy Service, Inc. 2002 Dodge Truck and vehicle "free from the Shields Motor Co., Inc. $42,029.11 all proceeds claims of others" ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- Borrower must keep Quest Cherokee, LLC Merle Kelly Ford, Inc. $17,951.47 Used 2001 Ford F-150 collateral free from all (Commercial Bank is Assignee) and all proceeds liens. ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- Used Caterpillar Telescopic Handler, Approximately used Caterpillar Document is technically a Quest Cherokee Oilfield Caterpillar Financial $196,839.72 Track-Type Tractor "lease" so title to the Service, LLC (lessee) Services Corporation (lessor) (for "monthly and Caterpillar collateral remains in rent" on Backhoe Loader and Lender's name until the three items) all proceeds lease is fully paid off. ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- Used 2000 Toyota Borrower promises to keep Quest Cherokee, LLC Merle Kelly Ford, Inc. Tacoma and all collateral free from liens (Assignee Commercial Bank) $16,878.47 proceeds and other security interests ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- Approximately $103,381.20 Quest Energy Service, Inc. ($1,723.02 (lessee) Caterpillar Financial monthly Caterpillar Title to collateral remains Services Corporation (lessor) payments for Tract-Type Tractor with Lender because document 60 months) is a "finance lease" ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- ORIGINAL BORROWER PRINCIPAL LENDER AMOUNT COLLATERAL NEGATIVE PLEDGE ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- Form of contract suggests Quest Energy Service, Inc. Chrysler Financial Corporation $28,454.06 2001 Dodge 3500 Quad vehicle must be kept "free Cab from the claims of others" ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- No terms and conditions attached, but form of Quest Cherokee, LLC Merle Kelly Ford, Inc. $16,717.52 2001 Ford Truck and contract suggests vehicle (Assignee is Commercial Bank) all proceeds must be kept "free from the claims of others" ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- Borrower needs Lender's Quest Cherokee, LLC Merle Kelly Ford, Inc. $17,790.52 2001 Ford Sport Trac consent to "dispose of any (Assignee is Commercial Bank) XLT and all proceeds rights in the collateral" ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- Doug Lamb is debtor of Borrower agrees not to record, but vehicle is used 1991 Freightliner "encumber the property in business and is being paid Community National Bank $29,495.40 with 2001 Dump Bed without prior consent of by Quest. and 1979 Adol Trainer lender. ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- DaimlerChrysler Services Used Didge model Borrower may not create a Quest Energy Service, Inc. North America, LLC $19,900 1500 and all proceeds lien on equipment. ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- 2003 Ford Truck Quest Energy Service, Inc. Merle Kelly Ford, Inc. $37,699.47 Super Duty and all Must keep vehicle "free from proceeds the claims of others." ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- No terms and conditions 2004 Ford Truck attached, but form of Quest Energy Service, Inc. Merle Kelly Ford, Inc. $40,046.73 Super Duty and all contract suggests vehicle proceeds must be kept "free from the claims of others" ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- Fiat Allis FD80H Borrower reps and warrants Quest Cherokee, LLC FCC Equipment Financing, Inc. $36,473 Crawler Dozer and that collateral will be kept proceeds free from all liens. ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- ORIGINAL BORROWER PRINCIPAL LENDER AMOUNT COLLATERAL NEGATIVE PLEDGE ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- Default under agreement for Quest Energy Service, Inc. CAT Financial $20,025.50 Misc. Equipment collateral to become subject to any lien. ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- Equipment No information Quest Energy Service, Inc. Caterpillar Financial Lease; No listed, but lessor (lessee) Services Corporation (lessor) information suggests it is farm Equipment Lease. included. equipment. ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- Equipment No information Quest Energy Service, Inc. Caterpillar Financial Lease; No listed, but lessor (lessee) Services Corporation (lessor) information suggests it is farm Equipment Lease. included. equipment. ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- Equipment No information Quest Energy Service, Inc. Caterpillar Financial Lease; No listed, but lessor (lessee) Services Corporation (lessor) information suggests it is farm Equipment Lease. included. equipment. ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- No terms and conditions attached, but form of Quest Cherokee Oilfield Bob Howard Downtown Ford $25,485 2005 Ford F150 and contract suggests vehicle Service, LLC proceeds must be kept "free from the claims of others" ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- No terms and conditions attached, but form of STP Cherokee, Inc. Merle Kelly Ford, Inc. $36,402.50 2003 Ford Truck and contract suggests vehicle all proceeds must be kept "free from the claims of others" ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- No terms and conditions 2004 Ford Truck attached, but form of Quest Energy Service, Inc. Merle Kelly Ford, Inc. $40,173.52 Super Duty and all contract suggests vehicle proceeds must be kept "free from the claims of others" ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- ORIGINAL BORROWER PRINCIPAL LENDER AMOUNT COLLATERAL NEGATIVE PLEDGE ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- No terms and conditions attached, but form of Quest Cherokee, LLC Merle Kelly Ford, Inc. $36,949.83 2004 Ford F150 and contract suggests vehicle all proceeds must be kept "free from the claims of others" ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- No terms and conditions attached, but form of Quest Cherokee Oilfield Merle Kelly Ford, Inc. $23,266.19 2003 Ford F150 and contract suggests vehicle Service, LLC all proceeds must be kept "free from the claims of others" ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- No terms and conditions attached, but form of Quest Cherokee Oilfield Merle Kelly Ford, Inc. $38,683.46 2005 Ford F250 and contract suggests vehicle Service, LLC all proceeds must be kept "free from the claims of others" ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- No terms and conditions attached, but form of Quest Cherokee Oilfield Merle Kelly Ford, Inc. $16,038.50 2001 Toyota Tundra contract suggests vehicle Service, LLC and all proceeds must be kept "free from the claims of others" ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- No terms and conditions attached, but form of Quest Cherokee Oilfield Merle Kelly Ford, Inc. $25,126.21 2004 Ford F150 and contract suggests vehicle Service, LLC all proceeds must be kept "free from the claims of others" ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- No terms and conditions attached, but form of Quest Cherokee Oilfield Merle Kelly Ford, Inc. $37,699.59 2005 Ford F250 and contract suggests vehicle Service, LLC all proceeds must be kept "free from the claims of others" ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- ORIGINAL BORROWER PRINCIPAL LENDER AMOUNT COLLATERAL NEGATIVE PLEDGE ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- No terms and conditions attached, but form of Quest Cherokee Oilfield Merle Kelly Ford, Inc. $27,488.52 2003 Ford F350 and contract suggests vehicle Service, LLC all proceeds must be kept "free from the claims of others" ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- No terms and conditions 2005 Gooseneck attached, but form of Quest Cherokee Oilfield Merle Kelly Ford, Inc. $8,218.04 Trailer and all contract suggests vehicle Service, LLC proceeds must be kept "free from the claims of others" ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- No terms and conditions attached, but form of Quest Cherokee Oilfield Merle Kelly Ford, Inc. $22,611.30 2005 Ford F150 and contract suggests vehicle Service, LLC all proceeds must be kept "free from the claims of others" ------------------------------- ------------------------------- --------------- ---------------------- ----------------------------- No terms and conditions attached, but form of Quest Cherokee Oilfield Merle Kelly Ford, Inc. $23,865.63 2005 Ford F150 and contract suggests vehicle Service, LLC all proceeds must be kept "free from the claims of others" ------------------------------- ------------------------------- --------------- ---------------------- -----------------------------
Schedule 7.15 Direct and Indirect Subsidiaries
------------------- -------------- ------------------------ -------------- ------------------------------ ------------ Principal Place of Company Legal Name Type of Organization Business/Chief Executive State of Entity Manner of Ownership ID Office Formation ------------------- -------------- ------------------------ -------------- ------------------------------ ------------ Limited 100% of membership Quest Cherokee, LLC STP Cherokee, LLC Liability owned by Quest 9520 North May Ave., Ste 300 Company Resource Corporation n/a Oklahoma City, OK 73120 Oklahoma ------------------- -------------- ------------------------ -------------- ------------------------------ ------------ Limited 100% of membership Quest Cherokee, LLC Quest Oil & Gas, Liability owned by Quest 4009973 9520 North May Ave., Ste 300 Kansas LLC Company Resource Corporation Oklahoma City, OK 73120 ------------------- -------------- ------------------------ -------------- ------------------------------ ------------ Limited 100% of membership Quest Cherokee, LLC Quest Energy Liability owned by Quest 4009940 9520 North May Ave., Ste 300 Kansas Service, LLC Company Resource Corporation Oklahoma City, OK 73120 ------------------- -------------- ------------------------ -------------- ------------------------------ ------------ Ponderosa Gas Limited 100% of membership Quest Cherokee, LLC Pipeline Company, Liability owned by Quest 4009957 9520 North May Ave., Ste 300 Kansas LLC Company Resource Corporation Oklahoma City, OK 73120 ------------------- -------------- ------------------------ -------------- ------------------------------ ------------ Limited 100% of membership Quest Cherokee, LLC Producers Liability owned by Ponderosa Gas 4010005 9520 North May Ave., Ste 300 Kansas Service, LLC Company Pipeline Company, LLC Oklahoma City, OK 73120 ------------------- -------------- ------------------------ -------------- ------------------------------ ------------ Limited 100% of the membership Quest Cherokee, LLC J-W Gas Liability interests owned by 2539211 9520 North May Ave., Ste 300 Kansas Gathering, L.L.C. Company Producers Service, LLC Oklahoma City, OK 73120 ------------------- -------------- ------------------------ -------------- ------------------------------ ------------ All units owned by Quest Cherokee, Limited entities as set forth Quest Cherokee, LLC LLC Liability on attached 3739332 9520 North May Ave., Ste 300 Delaware Company organizational chart Oklahoma City, OK 73120 ------------------- -------------- ------------------------ -------------- ------------------------------ ------------ Quest Cherokee Limited 100% of the membership Quest Cherokee, LLC Oilfield Service, Liability interests owned by 3842508 9520 North May Ave., Ste 300 Delaware LLC Company Quest Cherokee, LLC Oklahoma City, OK 73120 ------------------- -------------- ------------------------ -------------- ------------------------------ ------------
ORGANIZATIONAL CHART [GRAPHIC OMITTED] Schedule 7.19 ------------- Gas Imbalances None. Schedule 7.20 ------------- Marketing Contracts None. Schedule 9.05 ------------- Investments None. Schedule 7.21 ------------- QUEST CHEROKEE LLC QUEST RESOURCE CORPORATION Swap Agreements in Effect(1) Involving Quest Cherokee LLC Commodity Transactions
Notional Amount or Net Mark to ------------------ ----------- Type Original Effective Termination Volume; Calculation Market Value Credit Support Original ---- -------- --------- ----------- ------------------- ------------ -------------- -------- Term Date Date Period; and Index (N/A) Agreements Counterparty I.D. No. ---- ---- ---- ----------------- ----- ---------- ------------ -------- Security Instruments and BP Corporation Commodity cap any other collateral North America, (natural gas) 6,140 MMBTU daily under the Senior Credit Inc., as 12 months 1/01/07 12/31/07 (Southern Star) $- Agreement and the letter successor to 1374721 @ $8.63 of credit UBS Energy LLC Security Instruments and BP Corporation Commodity floor 6,140 MMBTU daily any other collateral North America, (natural gas) 12 months 1/01/07 12/31/07 (Southern Star) $- Agreement and the letter successor to 1374722 @ $8.00 of credit UBS Energy LLC Security Instruments and BP Corporation Commodity cap 6,963 MMBTU daily any other collateral North America, (natural gas) 12 months 1/01/07 12/31/07 (Southern Star) $- Agreement and the letter successor to 1371875 @ $9.02 of credit UBS Energy LLC Security Instruments and BP Corporation Commodity floor 6,963 MMBTU daily any other collateral North America, (natural gas) 12 months 1/01/07 12/31/07 (Southern Star) $- Agreement and the letter successor to 1371876 @ $8.00 of credit UBS Energy LLC Security Instruments and BP Corporation Commodity cap 5,854 MMBTU daily any other collateral North America, (natural gas) 12 months 1/01/08 12/31/08 (Southern Star) $- Agreement and the letter successor to 1374725 @ $8.93 of credit UBS Energy LLC Security Instruments and BP Corporation Commodity floor 5,854 MMBTU daily any other collateral North America, (natural gas) 12 months 1/01/08 12/31/08 (Southern Star) $- Agreement and the letter successor to 1374730 @ $8.00 of credit UBS Energy LLC Security Instruments and BP Corporation Commodity cap 5,378 MMBTU daily any other collateral North America, (natural gas) 12 months 1/01/08 12/31/08 (Southern Star) $- Agreement and the letter successor to 1371879 @ $9.02 of credit UBS Energy LLC Security Instruments and BP Corporation Commodity floor 5,378 MMBTU daily any other collateral North America, (natural gas) 12 months 1/01/08 12/31/08 (Southern Star) $- Agreement and the letter successor to 1371880 @ $8.00 of credit UBS Energy LLC ------------------------------------- 1 This Schedule reflects activity entered into post November 2005. Basis Differential Lock Transactions Security Instruments and BP Corporation 20,382 MMBTU daily any other collateral North America, Basis Lock 6 months 7/01/06 12/31/06 (Southern Star) $- Agreement and the letter successor to 1392555 @ $1.20 of credit UBS Energy LLC Security Instruments and BP Corporation 5,000 MMBTU daily any other collateral North America, Basis Lock 12 months 1/01/07 12/31/07 (Southern Star) $- Agreement and the letter successor to 1402236 @ $1.15 of credit UBS Energy LLC Security Instruments and BP Corporation 4,000 MMBTU daily any other collateral North America, Basis Lock 12 months 1/01/08 12/31/08 (Southern Star) $- Agreement and the letter successor to 1402247 @ $1.03 of credit UBS Energy LLC
Interest Rate Transactions None. Involving Quest Resource Corporation None. Involving subsidiaries of Quest Cherokee LLC and Quest Resource Corporation None. Annex C to Waiver and Amendment No. 1 to the Amended and Restated Third Lien Term Loan Agreement Purchase Agreement [Attached as Exhibit 10.1 to Form 8-K filed by Quest Resource Corporation on December 29, 2006] Annex D to Waiver and Amendment No. 1 to the Amended and Restated Third Lien Term Loan Agreement Closing List CLOSING CHECKLIST AMENDMENTS TO CREDIT FACILITIES FOR QUEST RESOURCE CORPORATION and QUEST CHEROKEE, LLC December 22, 2006 (19932-12580)
QRC Quest Resource Corporation Subsidiaries (7) STP Cherokee, LLC Quest Cherokee Quest Cherokee, LLC Quest Oil & Gas, LLC Guggenheim Guggenheim Corporate Funding, LLC Quest Energy Service, LLC SA Sidley Austin LLP Ponderosa Gas Pipeline Company, LLC Stinson Stinson Morrison Hecker LLP Producers Service, LLC J-W Gas Gathering, L.L.C. Quest Cherokee Oilfield Service, LLC ====== =============================================== ============= ===================== ======================== =============== Document Responsible Signatories Signatories Sidley Document Party Number ====== =============================================== ============= ===================== ======================== =============== I. Transaction Documents --------------------- ------ ----------------------------------------------- ------------- --------------------- ------------------------ --------------- 1. Waiver and Amendment No. 2 to Amended and SA [X] QRC [X] Massachusetts NY 5997340 Restated Senior Credit Agreement Mutual Life Ins. Co. [X] Quest Cherokee [X] Orpheus Holdings LLC [X] Guggenheim [X] Orpheus Funding LLC [X] Wells Fargo Foothill [X] Kennecott Funding Ltd. [X] Midland National Life Insurance Co. [X] Sands Point Funding Ltd. [X] North American Company For Life [X] Copper River CLO Ltd. [X] Green Lane CLO Ltd. ------ ----------------------------------------------- ------------- --------------------- ------------------------ --------------- ====== =============================================== ============= ===================== ======================== =============== Document Responsible Signatories Signatories Sidley Document Party Number ====== =============================================== ============= ===================== ======================== =============== 2. Waiver and Amendment No. 1 to Amended and SA [X] QRC [ ] Field Point II, Ltd. NY 5997360 Restated Second Lien Term Loan Agreement [X] Quest Cherokee [ ] Field Point IV, Ltd. [X] Guggenheim [ ] Field Point III, Ltd. [X] MA Mutual Life [ ] Wells Fargo Energy Ins. Co. Capital, Inc. [X] Del Mar Master [X] Dellacamera Capital Fund Ltd. Master Fund [X] Seal Rock [X] Orpheus Holdings LLC Offshore Funding, L.L.C. [X] Orpheus Funding LLC [ ] SPF CDO I, LLC ------ ----------------------------------------------- ------------- --------------------- ------------------------ --------------- 3. Waiver and Amendment No. 1 to Third SA [X] QRC [X] Sands Point Funding NY 5997374 Lien Term Loan Agreement Ltd. [X] Quest Cherokee [X] Orpheus Funding LLC [X] Guggenheim [X] Del Mar Master Fund [X] MA Deep Event Ltd. [X] Copper River CLO [X] Grand Central Asset Trust, DHV Series [X] Orpheus Holdings LLC [X] NZC Opportunities [X] Kennecott Funding [X] Grand Central Asset Ltd. Trust, ARL [X] Green Lane CLO [X] Stellar Funding ------ ----------------------------------------------- ------------- --------------------- ------------------------ --------------- ====== =============================================== ============= ===================== ======================== =============== Document Responsible Signatories Signatories Sidley Document Party Number ====== =============================================== ============= ===================== ======================== =============== 4. Joinder Agreement SA [X] QRC [X] Massachusetts Mutual NY 6001879 Life Ins. Co. [X] Quest Cherokee [X] Orpheus Holdings LLC [X] Bluestem [X] Orpheus Funding LLC [X] Guggenheim [X] Kennecott Funding [X] Wells Fargo Ltd. Foothill [X] Sands Point Funding [X] Midland National Ltd. Life Insurance Co. [X] Copper River CLO [X] North American Ltd. Company For Life [X] Green Lane CLO ------ ----------------------------------------------- ------------- --------------------- ------------------------ --------------- 5. Second Amended and Restated Security SA [X] QRC CH 3689379 Agreement (Senior) [X] Quest Cherokee [X] Quest Subs (7) [X] Guggenheim ------ ----------------------------------------------- ------------- --------------------- ------------------------ --------------- 6. Second Amended and Restated Security SA [X] QRC CH 3689377 Agreement (2d Lien) [X] Quest Cherokee [X] Quest Subs (7) [X] Guggenheim ------ ----------------------------------------------- ------------- --------------------- ------------------------ --------------- 7. Amended and Restated Security Agreement SA [X] QRC CH 3689426 (3rd Lien) [X] Quest Cherokee [X] Quest Subs (7) [X] Guggenheim ------ ----------------------------------------------- ------------- --------------------- ------------------------ --------------- 8. Amended and Restated Guaranty (Senior) SA [X] Quest Subs (7) CH 3689360 [X] Guggenheim ------ ----------------------------------------------- ------------- --------------------- ------------------------ --------------- 9. Amended and Restated Guaranty (2nd Lien) SA [X] Quest Subs (7) CH 3689346 [X] Guggenheim ====== =============================================== ============= ===================== ======================== =============== Document Responsible Signatories Signatories Sidley Document Party Number ====== =============================================== ============= ===================== ======================== =============== 10. Amended and Restated Guaranty (3rd Lien) SA [ ] Quest Subs (7) CH 3689354 [X] Guggenheim ------ ----------------------------------------------- ------------- --------------------- ------------------------ --------------- 11. Bluestem Release (Senior) SA [X] QRC CH 3658003 [X] Quest Cherokee [X] Guggenheim ------ ----------------------------------------------- ------------- --------------------- ------------------------ --------------- 12. Bluestem Release (2d Lien) SA [X] QRC CH 3690880 [X] Quest Cherokee [X] Guggenheim ------ ----------------------------------------------- ------------- --------------------- ------------------------ --------------- 13. Bluestem Release (3rd Lien) SA [X] QRC CH 3690886 [X] Quest Cherokee [X] Guggenheim ------ ----------------------------------------------- ------------- --------------------- ------------------------ --------------- 14. Fee Letter SA [X] QRC NY 5997379 [X] Quest Cherokee [X] Guggenheim ------ ----------------------------------------------- ------------- --------------------- ------------------------ --------------- ------ ----------------------------------------------- ------------- --------------------- ------------------------ --------------- ------ ----------------------------------------------- ------------- --------------------- ------------------------ --------------- ------ ----------------------------------------------- ------------- --------------------- ------------------------ --------------- III. Organizational Documents & Certificates --------------------------------------- ------ ----------------------------------------------- ------------- --------------------- ------------------------ --------------- 15. Secretary's Certificate of QRC including Stinson [X] QRC incumbency attaching: ------ ----------------------------------------------- ------------- --------------------- ------------------------ --------------- Articles of Incorporation ------ ----------------------------------------------- ------------- --------------------- ------------------------ --------------- By-Laws ------ ----------------------------------------------- ------------- --------------------- ------------------------ --------------- Resolutions ------ ----------------------------------------------- ------------- --------------------- ------------------------ --------------- Good Standings ------ ----------------------------------------------- ------------- --------------------- ------------------------ --------------- 16. Secretary's Certificate of the Quest Cherokee Stinson [X] Quest Cherokee including incumbency attaching: ------ ----------------------------------------------- ------------- --------------------- ------------------------ --------------- Certificate of Organization ------ ----------------------------------------------- ------------- --------------------- ------------------------ --------------- LLC Agreement ------ ----------------------------------------------- ------------- --------------------- ------------------------ --------------- Resolutions ------ ----------------------------------------------- ------------- --------------------- ------------------------ --------------- Good Standings ------ ----------------------------------------------- ------------- --------------------- ------------------------ --------------- ====== =============================================== ============= ===================== ======================== =============== Document Responsible Signatories Signatories Sidley Document Party Number ====== =============================================== ============= ===================== ======================== =============== 17. Secretary's Certificate for each Subsidiary Stinson [X] Quest Cherokee of QRC including incumbency attaching: Oilfield Service [X] Quest Energy Service [X] Quest Oil & Gas [X] STP Cherokee [X] J-W Gas Gathering [X] Ponderosa Gas Pipeline [X] Producers Service ------ ----------------------------------------------- ------------- --------------------- ------------------------ --------------- Certificates of Incorporation ------ ----------------------------------------------- ------------- --------------------- ------------------------ --------------- LLC Agreements ------ ----------------------------------------------- ------------- --------------------- ------------------------ --------------- Resolutions ------ ----------------------------------------------- ------------- --------------------- ------------------------ --------------- Good Standings ------ ----------------------------------------------- ------------- --------------------- ------------------------ --------------- IV. UCC Matters ----------- ------ ----------------------------------------------- ------------- --------------------- ------------------------ --------------- 18. UCC Searches SA ------ ----------------------------------------------- ------------- --------------------- ------------------------ --------------- 19. UCC-1s with respect to KS LLCs SA ------ ----------------------------------------------- ------------- --------------------- ------------------------ --------------- 20. UCC-3 Termination with respect to Bluestem SA ------ ----------------------------------------------- ------------- --------------------- ------------------------ --------------- 21. Perfection Certificate Stinson [X] QRC [X] Quest Cherokee [X] Quest Cherokee Oilfield Service [X] Quest Energy Service [X] Quest Oil & Gas [X] STP Cherokee [X] J-W Gas Gathering [X] Ponderosa Gas Pipeline [X] Producers Service ------ ----------------------------------------------- ------------- --------------------- ------------------------ --------------- ====== =============================================== ============= ===================== ======================== =============== Document Responsible Signatories Signatories Sidley Document Party Number ====== =============================================== ============= ===================== ======================== =============== V. Miscellaneous ------------- ------ ----------------------------------------------- ------------- --------------------- ------------------------ --------------- 22. Compliance Certificate Stinson [X] QRC [X] Senior [X] Quest Cherokee [X] 2d Lien [X] 3rd Lien ------ ----------------------------------------------- ------------- --------------------- ------------------------ --------------- 23. Responsible Officer Certificate Stinson [X] QRC [X] Senior [X] Quest Cherokee [X] 2d Lien [ ] 3rd Lien ------ ----------------------------------------------- ------------- --------------------- ------------------------ --------------- 24. Delivery of Pledged Equity Certificates and Stinson Powers in Blank (in new names) ------ ----------------------------------------------- ------------- --------------------- ------------------------ --------------- 25. Purchase Agreement including Disclosure Stinson Schedule Transaction Documents as defined in the Purchase Agreement [X] Contribution, Conveyance and Assumption Agreement [X] Registration Rights Agreement [X] Investors' Rights Agreement [X] Midstream Agreement [X] Omnibus Agreement [X] GP LLC Agreement ====== =============================================== ============= ===================== ======================== ===============