Document:

exv10w8

Exhibit 10.8

EXECUTION

GUARANTY

(PostRock Energy Corporation)

(PostRock Energy Services Corporation)

     THIS GUARANTY (this “Guaranty”), dated as of March 5, 2010, is made by PostRock Energy
Corporation, a Delaware corporation (“Post-Recombination Parent”), and PostRock Energy Services
Corporation, a Nevada corporation, f/k/a Quest Resource Corporation (“Quest Parent”;
Post-Recombination Parent and Quest Parent sometimes herein referred to individually as a
“Guarantor” and collectively as the “Guarantors”), in favor of ROYAL BANK OF CANADA, as
administrative agent for the Lenders (as defined below).

R E C I T A L S:

     A. Pursuant to that certain Second Lien Senior Term Loan Agreement dated July 11, 2008, as
amended by a First Amendment to Second Lien Senior Term Loan Agreement dated as of October 28,
2008, Second Amendment to Second Lien Senior Term Loan Agreement dated as of June 30, 2008 and
Third Amendment to Second Lien Senior Term Loan Agreement dated as of December 17, 2009 (as the
same may hereafter be amended, supplemented and restated, the “Credit Agreement”), among QUEST
CHEROKEE, LLC, a Delaware limited liability company (“Borrower"), Quest Energy Partners, L.P., a
Delaware limited partnership (“MLP”), as guarantor, the various financial institutions that are, or
may from time to time become, parties thereto (individually a “Lender” and collectively the
“Lenders”), Royal Bank of Canada, as administrative agent and collateral agent (in its capacity as
administrative agent, the “Administrative Agent”), KeyBank National Association, as syndication
agent, and Société Générale, as documentation agent, the Lenders made Term Loans for the account of
the Borrower.

     B. Pursuant to Section 6.14 of the Credit Agreement, Borrower is required to deliver to the
Administrative Agent a guaranty executed by the Post-Recombination Parent and Quest Parent.

     C. Each Guarantor has duly authorized the execution, delivery and performance of this
Guaranty.

     D. Quest Parent owns 100% of the equity of PostRock MidContinent Production, LLC, a Delaware
limited liability company, successor by merger and conversion to MLP and MLP owns 100% of the
equity of Borrower.

     E. Post-Recombination Parent owns 100% of the equity of Quest Parent.

     F. It is in the best interests of each Guarantor to execute this Guaranty inasmuch as each
Guarantor will derive substantial direct and indirect benefits from the extensions of credit made
from time to time to or for the account of the Borrower.

     NOW THEREFORE, for good and valuable consideration, the receipt of which is hereby
acknowledged, and in order to fulfill the requirements of the Credit Agreement, the Guarantors
agree, for the benefit of each Lender, as follows:

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ARTICLE I

DEFINITIONS

     SECTION 1.1 Certain Terms. The following capitalized terms when used in this Guaranty,
including its preamble and recitals, shall have the following meanings (such definitions to be
equally applicable to the singular and plural forms thereof):

     “Administrative Agent” is defined in Recital A.

     “Borrower” is defined in Recital A.

     “Commitments” means the aggregate Term Loan Commitment (as defined in the Credit Agreement).

     “Credit Agreement” is defined in Recital A.

     “Guarantor” and “Guarantors” is defined in the preamble.

     “Guaranty” is defined in the preamble.

     “Lender” and “Lenders” are defined in the first recital.

     “Loan Documents” means the Loan Documents (as defined in the Credit Agreement).

     “MLP” is defined in Recital A.

     “Note” means each Term Note (as defined in the Credit Agreement).

     “Obligations” means the Obligations (as defined in the Credit Agreement).

     “Obligor” means the Borrower or any other Person (other than the Administrative Agent or any
Lender) obligated under any Loan Document.

     “Post-Recombination Parent” is defined in the preamble.

     “Quest Parent” is defined in the preamble.

     “Required Lenders” means the Required Lenders (as defined in the Credit Agreement).

     “Taxes” is defined in clause (a) of Section 2. 7.

     “UCC” means the Uniform Commercial Code as in effect in the State of New York.

     SECTION 1.2 Credit Agreement Definitions. Unless otherwise defined herein or the
context otherwise requires, capitalized terms used in this Guaranty, including its preamble and
recitals, have the meanings provided in the Credit Agreement,

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     SECTION 1.3 UCC Definitions. Unless otherwise defined herein or the context otherwise
requires, terms for which meanings are provided in the UCC are used in this Guaranty, including its
preamble and recitals, with such meanings.

ARTICLE II

GUARANTY PROVISIONS

     SECTION 2.1 Guaranty. Each Guarantor hereby absolutely, unconditionally, and
irrevocably (1) guarantees the full and punctual payment when due, whether at stated maturity, by
required prepayment, declaration, acceleration, demand or otherwise, of all Obligations of the
Borrowers and each other Obligor now or hereafter existing under each of the Credit Agreement, the
Notes and each other Loan Document to which the Borrowers or such other Obligor is or may become a
party, whether for principal, interest, fees, expenses or otherwise (including all such amounts
which would become due but for the operation of the automatic stay under Section 362(a) of the
United States Bankruptcy Code, 11 U.S.C. §362(a), and the operation of Sections 502(b) and 506(b)
of the United States Bankruptcy Code, 11 U.S.C. §502(b) and §506(b)), and (2) indemnifies and holds
harmless each Lender and each holder of a Note for any and all costs and expenses (including
reasonable attorney’s fees and expenses) incurred by such Lender or such holder, as the case may
be, in enforcing any rights under this Guaranty; provided however, that each Guarantor shall be
liable under this Guaranty for the maximum amount of such liability that can be hereby incurred
without rendering this Guaranty, as it relates to such Guarantor, voidable under applicable law
relating to fraudulent conveyance or fraudulent transfer, and not for any greater amount. This
Guaranty constitutes a guaranty of payment when due and not of collection, and each Guarantor
specifically agrees that it shall not be necessary or required that any Lender or any holder of any
Note exercise any right, assert any claim or demand or enforce any remedy whatsoever against the
Borrowers or any other Obligor (or any other Person) before or as a condition to the obligations of
such Guarantor hereunder.

     SECTION 2.2 Acceleration of Guaranty. Each Guarantor agrees that, in the event of the
occurrence of any event of the type described in Section 8.01(f) of the Credit Agreement, with
respect to the Borrowers, any other Obligor or any other Guarantor, and if such event shall occur
at a time when any of the Obligations may not then be due and payable, such Guarantor will pay to
the Lenders forthwith the full amount which would be payable hereunder by such Guarantor if all
such Obligations were then due and payable.

     SECTION 2.3 Guaranty Absolute, etc. This Guaranty shall in all respects be a
continuing, absolute, unconditional and irrevocable guaranty of payment, and shall remain in full
force and effect until all Obligations (other than contingent indemnity obligations) of the
Borrowers and each other Obligor have been paid in full, all obligations of the Guarantors
hereunder shall have been paid in full, all Commitments shall have terminated and, except as
provided in Section 10.01(e) of the Credit Agreement, all Lender Hedging Agreements have
terminated. No Guarantor may rescind or revoke its obligations hereunder. Each Guarantor guarantees
that the Obligations of the Borrowers and each other Obligor will be paid strictly in accordance
with the terms of the Credit Agreement and each other Loan Document under which they arise,
regardless of any law, regulation or order now or hereafter in effect in any jurisdiction affecting
any of such terms or the rights of any Lender or any holder of any Note with respect thereto. The
liability of each Guarantor under this Guaranty shall be absolute, unconditional and irrevocable
irrespective of: (1) any lack of validity, legality or enforceability of the Credit Agreement, any
Note or any other Loan Document; (2) the failure of any Lender or any holder of any Note (a) to
assert any claim or demand or to enforce any right or remedy against the Borrowers, any other
Obligor or any other Person (including any other guarantor) under the provisions of the Credit
Agreement, any Note,

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any other Loan Document or otherwise, or (b) to exercise any right or remedy against any other
guarantor of, or collateral securing, any Obligations of the Borrowers or any other Obligor; (3)
any change in the time, manner or place of payment of, or in any other term of, all or any of the
Obligations of the Borrowers or any other Obligor, or any other extension, compromise or renewal of
any Obligations of the Borrowers or any other Obligor; (4) any reduction, limitation, impairment or
termination of any Obligations of the Borrowers or any other Obligor for any reason, including any
claim of waiver, release, surrender, alteration or compromise, and shall not be subject to (and
each Guarantor hereby waives any right to or claim of) any defense or setoff, counterclaim,
recoupment or termination whatsoever by reason of the invalidity, illegality, nongenuineness,
irregularity, compromise, unenforceability of, or any other event or occurrence affecting, any
Obligations of the Borrowers, any other Obligor or otherwise; (5) any amendment to, rescission,
waiver, or other modification of, or any consent to departure from, any of the terms of the Credit
Agreement, any Note or any other Loan Document; (6) any addition, exchange, release, surrender or
non-perfection of any collateral, or any amendment to or waiver or release or addition of, or
consent to departure from, any other guaranty, held by any Lender or any holder of any Note
securing any of the Obligations of the Borrowers or any other Obligor; (7) the insolvency or
bankruptcy of, or similar event affecting, the Borrowers or any other Obligor; or (8) any other
circumstance which might otherwise constitute a defense available to, or a legal or equitable
discharge of, the Borrowers, any other Obligor, any surety or any guarantor. Each Guarantor waives
all rights and defenses which may arise with respect to any of the foregoing, and each Guarantor
waives any right to revoke this Guaranty with respect to future indebtedness.

     SECTION 2.4 Reinstatement. Each Guarantor agrees that this Guaranty shall continue to
be effective or be reinstated, as the case may be, if at any time any payment (in whole or in part)
of any of the Obligations is rescinded or must otherwise be restored by any Lender or any holder of
any Note, upon the insolvency, bankruptcy or reorganization of either Borrower, any other Obligor
or otherwise, all as though such payment had not been made.

     SECTION 2.5 Waiver, etc. The Guarantors hereby waive promptness, diligence, notice
of acceptance and any other notice with respect to any of the Obligations of the Borrowers or any
other Obligor and this Guaranty and any requirement that the Administrative Agent, any other Lender
or any holder of any Note protect, secure, perfect or insure any security interest or Lien, or any
property subject thereto, or exhaust any right or take any action against the Borrowers, any other
Obligor or any other Person (including any other guarantor) or entity or any collateral securing
the Obligations of the Borrowers or any other Obligor, as the case may be.

     SECTION 2.6 Waiver of Subrogation. Until the Obligations are paid in full, all
Commitments have terminated and all Lender Hedging Agreements have terminated (except as provided
in Section 10.01(e) of the Credit Agreement), the Guarantors shall not enforce or exercise any
claim or other rights which they may now or hereafter acquire against the Borrowers or any other
Obligor that arise from the existence, payment, performance or enforcement of any Guarantor’s
obligations under this Guaranty or any other Loan Document, including any right of subrogation,
reimbursement, exoneration, or indemnification, any right to participate in any claim or remedy of
the Lenders against the Borrowers or any other Obligor or any collateral which the Administrative
Agent now has or hereafter acquires, whether or not such claim, remedy or right arises in equity,
or under contract, statute or common law, including the right to take or receive from the Borrowers
or any other Obligor, directly or indirectly, in cash or other property or by set-off or in any
manner, payment or security on account of such claim or other rights. If any amount shall be paid
to any Guarantor in violation of the preceding sentence, such amount shall be deemed to have been
paid to such Guarantor for the benefit of, and held in trust for, the Lenders, and shall forthwith
be paid to the Administrative Agent for the benefit of the Lenders by the

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Guarantor receiving such payment to be credited and applied upon the Obligations, whether
matured or unmatured. Each Guarantor acknowledges that it will receive direct and indirect benefits
from the financing arrangements contemplated by the Credit Agreement and that the waiver set forth
in this Section is knowingly made in contemplation of such benefits.

     SECTION 2.7 Payments Free and Clear of Taxes, etc. Each Guarantor hereby agrees
that:

     (a) All payments by such Guarantor hereunder shall be made in accordance with Section 3.01 of
the Credit Agreement free and clear of and without deduction for any and all present or future
taxes, duties, levies, imposts, deductions, assessments, fees, withholdings or similar charges, and
all liabilities with respect thereto; excluding, in the case of the Administrative Agent and each
Lender, taxes imposed on or measured by its net income (including any franchise taxes imposed on or
measured by its net income), by the jurisdiction (or any political subdivision thereof) under the
Laws of which the Administrative Agent or such Lender, as the case may be, is organized or
maintains its Lending Office (all such non-excluded taxes, duties, levies, imposts, deductions,
assessments, fees, withholdings or similar charges, and liabilities being hereinafter referred to
as “Taxes”). In the event that any withholding or deduction from any payment to be made by such
Guarantor hereunder is required in respect of any Taxes pursuant to any applicable law, rule or
regulation, then such Guarantor will (i) pay directly to the relevant authority the full amount
required to be so withheld or deducted; (ii) promptly forward to such Lender an official receipt or
other documentation satisfactory to such Lender evidencing such payment to such authority; and
(iii) pay to such Lender such additional amount or amounts as is necessary to ensure that the net
amount actually received by such Lender will equal the full amount such Lender would have received
had no such withholding or deduction been required. Moreover, if any Taxes are directly asserted
against any Lender with respect to any payment received by such Lender hereunder, such Lender may
pay such Taxes and such Guarantor will promptly pay such additional amounts (including, if incurred
as a result of such Guarantor’s or the Borrower’s action, omission or delay, any penalties,
interest or expenses) as is necessary in order that the net amount received by such Lender after
the payment of such Taxes (including any Taxes on such additional amount) shall equal the amount
such Lender would have received had such Taxes not been asserted.

     (b) If a Guarantor fails to pay any Taxes when due to the appropriate taxing authority or
fails to remit to any Lender the required receipts or other required documentary evidence, such
Guarantor shall indemnify such Lender for any incremental Taxes, interest or penalties that may
become payable by such Lender as a result of any such failure.

     (c) Without prejudice to the survival of any other agreement of the Guarantors hereunder, the
agreements and obligations of the Guarantors contained in this Section 2.7 shall survive the
payment in full of the principal of and interest on the Term Loan.

     SECTION 2.8 Subordination. Each Guarantor hereby subordinates and makes inferior to
the Obligations any and all indebtedness now or at any time hereafter owed by the Borrowers or
other Obligor to such Guarantor. Each Guarantor agrees that if any Event of Default has occurred
and is continuing under the Credit Agreement, it will not permit the Borrowers to repay such
indebtedness or any part thereof and it will not accept payment from the Borrowers of such
indebtedness or any part thereof without the prior written consent of the Required Lenders. If a
Guarantor receives any such payment without the prior required written consent, the amount so paid
shall be held in trust for the benefit of the Lenders, shall be segregated from the other funds of
such Guarantor, and shall forthwith be paid over to the Administrative Agent to be held by the
Administrative Agent as collateral for, or then or at any time thereafter applied in whole or in
part by the Administrative Agent against, all or any portions of the Obligations, whether matured
or unmatured, in such order as the Administrative Agent shall elect.

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ARTICLE III

MISCELLANEOUS PROVISIONS

     SECTION 3.1 Loan Document. This Guaranty is a Loan Document executed pursuant to the
Credit Agreement and shall (unless otherwise expressly indicated herein) be construed, administered
and applied in accordance with the terms and provisions thereof.

     SECTION 3.2 Releases. At such time as the Term Loan shall have been paid in full
(other than contingent indemnity obligations, the Commitments have been terminated, and, subject to
Section 10.01(e) of the Credit Agreement, no Lender Hedging Agreements are outstanding, the
Administrative Agent shall, at the request and expense of the Guarantors following such
termination, promptly execute and deliver to the Guarantors such documents and instruments as the
Guarantors shall reasonably request to evidence termination and release of this Guaranty.

     SECTION 3.3 Administrative Agent and Lenders; Successors and Assigns.

     (a) The Administrative Agent is Administrative Agent for each Lender under the Credit
Agreement. All rights granted to Administrative Agent under or in connection with this Guaranty are
for each Lender’s ratable benefit. The Administrative Agent may, without the joinder of any Lender,
exercise any rights in Administrative Agent’s or Lenders’ favor under or in connection with this
Guaranty. The Administrative Agent’s and each Lender’s rights and obligations vis-a-vis each other
may be subject to one or more separate agreements between those parties. However, the Guarantors
are not required to inquire about any such agreement and are not subject to any terms of it unless
the Guarantors specifically enter into such agreement. Therefore, neither Guarantors nor any of
their successors or assigns are entitled to any benefits or provisions of any such separate
agreement nor are they entitled to rely upon or raise as a defense any party’s failure or refusal
to comply with the provisions of any such agreement.

     (b) This Guaranty benefits the Administrative Agent, the Lenders, and their respective
successors and assigns and binds each Guarantor and its successors and assigns. Upon appointment of
any successor Administrative Agent under the Credit Agreement, all of the rights of Administrative
Agent under this Guaranty automatically vest in that new Administrative Agent as successor
Administrative Agent on behalf of Lenders without any further act, deed, conveyance, or other
formality other than that appointment. The rights of the Administrative Agent and the Lenders under
this Guaranty may be transferred with any assignment of the obligations hereby guaranteed pursuant
to and in accordance with the terms of the Credit Agreement. The Credit Agreement contains
provisions governing assignments of the obligations guaranteed under this Guaranty.

     SECTION 3.4 Amendments, etc. No amendment to or waiver of any provision of this
Guaranty, nor consent to any departure by any Guarantor herefrom, shall in any event be effective
unless the same shall be in writing and signed by or on behalf of the party against whom it is
sought to be enforced and is in conformity with the requirements of Section 10.01 of the Credit
Agreement. Each such waiver or consent shall be effective only in the specific instance and for
the specific purpose for which given.

     SECTION 3.5 Addresses for Notices to the Guarantors. All notices and other
communications hereunder to the Guarantors shall be in writing and mailed or delivered to it,
addressed to it at the address set forth below or at such other address as shall be designated by
the Guarantor in a

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written notice to the Administrative Agent at the address specified in the Credit Agreement
complying as to delivery with the terms of this Section. All such notices and other communications
shall, when mailed, be effective when deposited in the mail, addressed as aforesaid. Address for
notices:

210 Park Avenue, Suite 2750

Oklahoma City, Oklahoma 73102

Attn: General Counsel

Facsimile: (405) 702-7490

Telephone: (405) 600-7704

     SECTION 3.6 No Waiver; Remedies. In addition to, and not in limitation of, Section 2.3
and Section 2.5, no failure on the part of any Lender or any holder of a Note to exercise, and no
delay in exercising, any right hereunder shall operate as a waiver thereof, nor shall any single or
partial exercise of any right hereunder preclude any other or further exercise thereof or the
exercise of any other right. The remedies herein provided are cumulative and not exclusive of any
remedies provided by law.

     SECTION 3.7 Section Captions. Section captions used in this Guaranty are for
convenience of reference only, and shall not affect the construction of this Guaranty.

     SECTION 3.8 Setoff. In addition to, and not in limitation of, any rights of any
Lender or any holder of a Note under applicable law, upon the occurrence and during the continuance
of an Event of Default under or as defined in the Credit Agreement, each Lender and each such
holder shall be entitled to exercise (for the benefit of all Lenders pursuant to Section 10.09 of
the Credit Agreement) any right of offset or banker’s lien against each and every account and other
property or interest that a Guarantor may now or hereafter have with, or which is now or hereafter
in the possession of, any such Lender, to the extent of the full amount of the Obligations.

     SECTION 3.9 Severability. Wherever possible, each provision of this Guaranty shall be
interpreted in such manner as to be effective and valid under applicable law, but if any provision
of this Guaranty shall be prohibited by or invalid under such law, such provision shall be
ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of
such provision or the remaining provisions of this Guaranty.

     SECTION 3.10 Governing Law.

     (a) THIS GUARANTY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE
OF NEW YORK APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED ENTIRELY WITHIN SUCH STATE;
PROVIDED THAT THE ADMINISTRATIVE AGENT AND EACH LENDER SHALL RETAIN ALL RIGHTS ARISING
UNDER UNITED STATES FEDERAL LAW.

     (b) EACH GUARANTOR AGREES ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS GUARANTY OR ANY
OTHER LOAN DOCUMENT MAY BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK SITTING IN THE BOROUGH OF
NEW YORK OR OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF NEW YORK AND APPELLATE COURTS FROM
ANY THEREOF, AND BY EXECUTION AND DELIVERY OF THIS GUARANTY, EACH GUARANTOR CONSENTS, FOR ITSELF
AND IN RESPECT OF ITS PROPERTY, TO THE NON-EXCLUSIVE JURISDICTION OF THOSE COURTS. EACH GUARANTOR
(1) IRREVOCABLY WAIVES ANY OBJECTION, INCLUDING ANY OBJECTION TO THE LAYING

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OF VENUE OR BASED ON THE GROUNDS OF FORUM NON CONVENIENS, WHICH IT MAY NOW OR HEREAFTER HAVE
TO THE BRINGING OF ANY ACTION OR PROCEEDING IN SUCH JURISDICTION IN RESPECT OF ANY LOAN DOCUMENT OR
OTHER DOCUMENT RELATED THERETO, AND (2) IRREVOCABLY CONSENTS TO THE SERVICE OF PROCESS OUT OF ANY
OF THE AFOREMENTIONED COURTS IN ANY SUCH ACTION OR PROCEEDING BY THE MAILING OF COPIES THEREOF BY
CERTIFIED MAIL, RETURN RECEIPT REQUESTED, POSTAGE PREPAID, AT ITS ADDRESS FOR NOTICES DESIGNATED
HEREIN. EACH GUARANTOR WAIVES PERSONAL SERVICE OF ANY SUMMONS, COMPLAINT OR OTHER PROCESS, WHICH
MAY BE MADE BY ANY OTHER MEANS PERMITTED BY THE LAW OF SUCH STATE.

     SECTION 3.11 Waiver of Jury Trial, Etc. EACH GUARANTOR HEREBY (a) EXPRESSLY AND
IRREVOCABLY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION
ARISING UNDER ANY LOAN DOCUMENT OR IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE
DEALINGS OF THE PARTIES TO THE LOAN DOCUMENTS OR ANY OF THEM WITH RESPECT TO ANY LOAN DOCUMENT, OR
THE TRANSACTIONS RELATED THERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND
WHETHER FOUNDED IN CONTRACT OR TORT OR OTHERWISE; AND EACH GUARANTOR HEREBY AGREES AND CONSENTS
THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A
JURY, AND THAT ADMINISTRATIVE AGENT OR ANY LENDER MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF
THIS SECTION WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF EACH GUARANTOR TO THE WAIVER OF
ITS RIGHT TO TRIAL BY JURY; AND (b) EXPRESSLY AND IRREVOCABLY WAIVES, TO THE MAXIMUM EXTENT NOT
PROHIBITED BY LAW, ANY RIGHT IT MAY HAVE TO CLAIM OR RECOVER IN ANY SUCH ACTION ANY SPECIAL,
EXEMPLARY, PUNITIVE OR CONSEQUENTIAL DAMAGES, OR DAMAGES OTHER THAN, OR IN ADDITION TO, ACTUAL
DAMAGES; PROVIDED THAT THE WAIVER CONTAINED IN THIS SECTION 3.11 SHALL NOT APPLY TO THE EXTENT THAT
THE PARTY AGAINST WHOM DAMAGES ARE SOUGHT HAS ENGAGED IN GROSS NEGLIGENCE OR WILLFUL MISCONDUCT.

     SECTION 3.12 Entire Agreement. THIS GUARANTY AND THE OTHER LOAN DOCUMENTS REPRESENT
THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR,
CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL
AGREEMENTS BETWEEN THE PARTIES.

[REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK

SIGNATRUES BEGIN ON NEXT PAGE.]

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     IN WITNESS WHEREOF, each Guarantor has caused this Guaranty to be duly executed and delivered
by an officer duly authorized as of the date first above written.

	 	 	 	 	 
	 	POSTROCK ENERGY CORPORATION,

a Delaware corporation, as Guarantor

 	 
	 	By:  	/s/ David C. Lawler
 	 
	 	 	David C. Lawler,  	 
	 	 	Chief Executive Officer and  President 	 
	 
	 	POSTROCK ENERGY SERVICES CORPORATION,

a Nevada corporation, as Guarantor

 	 
	 	By:  	/s/ David C. Lawler
 	 
	 	 	David C. Lawler,  	 
	 	 	Chief Executive Officer and  President 	 
	 

Signature Page

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Exhibit 10.9

EXECUTION

PLEDGE AND SECURITY AGREEMENT

dated as of March 5, 2010

of

POSTROCK ENERGY SERVICES CORPORATION

(F/K/A QUEST RESOURCE CORPORATION)

in favor of

ROYAL BANK OF CANADA,

AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT

PURSUANT TO

AMENDED AND RESTATED CREDIT AGREEMENT

DATED AS OF NOVEMBER 7, 2007

AMONG

QUEST MIDSTREAM PARTNERS, L.P.

AND

BLUESTEM PIPELINE, LLC,

AS BORROWERS,

ROYAL BANK OF CANADA,

AS ADMINISTRATIVE AGENT AND COLLATERAL AGENT,

AND LENDERS PARTY THERETO

 

 

PLEDGE AND SECURITY AGREEMENT

(PostRock Energy Services Corporation)

     THIS PLEDGE AND SECURITY AGREEMENT (herein referred to as this “Security Agreement”) is
executed as of March 5, 2010, by POSTROCK ENERGY SERVICES CORPORATION (f/k/a QUEST RESOURCE
CORPORATION), a Nevada corporation (“Debtor”), whose address is 210 Park Avenue, Suite 2750,
Oklahoma City, Oklahoma 73102, for the benefit of ROYAL BANK OF CANADA (in its capacity as
“Administrative Agent” and “Collateral Agent” for the Lenders (hereafter defined)), as “Secured
Party,” whose address is Royal Bank Plaza, P.O. Box 50, 200 Bay Street, 12th Floor, South Tower,
Toronto, Ontario M5J 2W7.

RECITALS

     A. Pursuant to that certain Amended and Restated Credit Agreement, dated as of November 1,
2007, as amended by a First Amendment to Amended and Restated Credit Agreement dated as of November
1, 2007, Second Amendment to Amended and Restated Credit Agreement dated as of October 28, 2008 and
Third Amendment to Amended and Restated Credit Agreement dated as of December 17, 2009 (as the same
may hereafter be amended, supplemented and restated, the “Credit Agreement”), among Bluestem
Pipeline, LLC, a Delaware limited liability company (“Bluestem”), and Quest Midstream Partners,
L.P., as co-borrowers (“QMLP”; Bluestem and QMLP, each a “Borrower” and collectively the
“Borrowers”), the various financial institutions that are, or may from time to time become, parties
thereto (individually a “Lender” and collectively the “Lenders”) and Royal Bank of Canada, as
administrative agent (in such capacity, the “Administrative Agent”) and as collateral agent (in
such capacity, the “Collateral Agent”), the Lenders agreed to make Loans for the account of the
Borrowers.

     B. Debtor has agreed to guarantee the obligations of the Borrowers under the Credit Agreement
and to pledge the Collateral (as hereafter defined) as described hereunder.

     C. The Debtor has duly authorized the execution, delivery and performance of this Security
Agreement.

     D. It is in the best interests of Debtor to execute a Guaranty of the Secured Obligations (as
herein defined) and this Security Agreement.

     E. This Security Agreement is integral to the transactions contemplated by the Loan Documents,
and the execution and delivery of this Security Agreement is required under the terms of the Credit
Agreement.

     ACCORDINGLY, for valuable consideration, the receipt and adequacy of which are hereby
acknowledged, Debtor and Secured Party hereby agree as follows:

ARTICLE I

Definitions and References

Section 1.1. References to Credit Agreement. The terms, conditions, and provisions of the
Credit Agreement are incorporated herein by reference, the same as if set forth herein verbatim,
which terms, conditions, and provisions shall continue to be in full force and effect hereunder so
long as the Lenders are obligated to lend under the Credit Agreement and thereafter until the
Obligations are paid and performed in full (except as provided in Sections 10.01(d) and 10.01(e) of
the Credit Agreement).

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     Section 1.2. Certain Definitions. Unless otherwise defined herein, or the context
hereof otherwise requires, each term defined in the Credit Agreement or in the UCC is used in this
Security Agreement with the same meaning; provided that, if the definition given to such term in
the Credit Agreement conflicts with the definition given to such term in the UCC, the definition in
the Credit Agreement shall control to the extent legally allowable; and if any definition given to
such term in Chapter 9 of the UCC conflicts with the definition given to such term in any other
chapter of the UCC, the Chapter 9 definition shall prevail.

     Section 1.3. Certain Definitions. Definitions in this Security Agreement

     The following terms have the following meanings unless otherwise indicated:

     “Administrative Agent” has the meaning specified in Recital A.

     “Bluestem” has the meaning specified in Recital A.

     “Borrower” and “Borrowers” have the meanings specified in Recital A.

     “Collateral” means, with respect to Debtor, all property described in Section 2.1 in which
Debtor has any right, title or interest.

     “Collateral Agent” has the meaning specified in Recital A.

     “Credit Agreement” has the meaning specified in Recital A.

     “Debtor” has the meaning specified in the preamble.

     “Issuer” has the meaning specified in Section 2.1.

     “Lender” and “Lenders” have the meanings specified in Recital A.

     “Pledged Equity” has the meaning specified in Section 2.1.

     “Prior Lien Release” has the meaning specified in Section 3.1(f).

     “QMLP” has the meaning specified in Recital A.

     “QRC Credit Agreement” has the meaning specified in Section 3.1(f).

     “Secured Obligations” means all Obligations (as defined in the Credit Agreement).

     “Secured Party” has the meaning specified in the preamble.

     “Securities Act” means the Securities Act of 1933.

     “Security Agreement” has the meaning specified in the preamble.

     “UCC” means the Uniform Commercial Code in effect in the State of New York from time to time;
provided that, if perfection or the effect of perfection or non-perfection or the priority of any
security interest in any Collateral is governed by the Uniform Commercial Code as in effect in a
jurisdiction other than the State of New York, “UCC” means the Uniform Commercial Code as in effect
from time to time in such other jurisdiction for purposes of the provisions hereof relating to such
perfection, effect of perfection or non-perfection or priority.

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ARTICLE II

Security Interest

     Section 2.1.
Grant of Security Interest (a). As collateral security for the
payment and performance of all Secured Obligations, Debtor pledges, collaterally assigns and grants
to Secured Party a continuing security interest in all right, title and interest of Debtor in and
to Debtor’s 100% limited liability company interest in PostRock Midstream, LLC, a Delaware limited
liability company (the “Issuer”), f/k/a Quest Midstream Acquisition, LLC, and the successor by
merger with Quest Midstream GP, LLC, a Delaware limited liability company, and the successor by
merger with Quest Midstream Partners, L.P., a Delaware limited partnership, whether such limited
liability company interest is now owned or existing or hereafter acquired or arising, whether such
equity is a General Intangible or a security, all equity that it may acquire in the future that is
issued by Issuer and all proceeds of the foregoing (collectively, the “Pledged Equity”).

     Section 2.2. Secured Obligations Secured.

     (a) The security interest created hereby in the Collateral secures the payment and
performance of all Secured Obligations.

     (b) Without limiting the generality of the foregoing, this Security Agreement
secures, as to Debtor, the payment of all amounts that constitute part of the Secured Obligations
and would be owed by any Loan Party (as defined in the Credit Agreement) to any of the Secured
Parties (as defined in the Credit Agreement) under the Loan Documents (as defined in the Credit
Agreement) but for the fact that they are unenforceable or not allowable due to the existence of a
bankruptcy, reorganization or similar proceeding involving a Loan Party.

     (c) Notwithstanding any other provision of this Security Agreement, the liability of
Debtor hereunder and under each other Loan Document to which it is a party shall be limited to the
maximum liability that Debtor may incur without rendering this Security Agreement and such other
Loan Documents subject to avoidance under Section 548 of the United States Bankruptcy Code or any
comparable provision of any applicable state or federal law.

ARTICLE III

Representations and Warranties

     Section 3.1. Representations and Warranties. Debtor represents and warrants to Secured
Party as follows:

     (a) Each representation and warranty made by Debtor in any other Loan Document is
correct.

     (b) Debtor has and will have at all times the right, power and authority to grant to
Secured Party as provided herein a security interest in the Collateral, free and clear of any Lien,
except for Permitted Liens after giving effect to the Prior Lien Release. This Security Agreement
creates a valid and binding security interest in favor of Secured Party in the Collateral, securing
the Secured Obligations.

     (c) With respect to Pledged Equity:

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     (i) All units constituting Pledged Equity have been duly authorized and validly issued,
and, as applicable, are fully paid and non-assessable, and were not issued in violation of
the preemptive rights of any Person or of any agreement by which Debtor or the Issuer is
bound.

     (ii) All documentary, stamp or other taxes or fees owing in connection with the
issuance, transfer or pledge of any Pledged Equity (or rights in respect thereof) have been
paid.

     (iii) No restriction or condition exists with respect to the transfer, voting or
capital of any Pledged Equity.

     (iv) Issuer has no outstanding subscription agreement, option, warrant or convertible
security outstanding or any other right outstanding pursuant to which any Person would be
entitled to have issued to it units of ownership interest in Issuer.

     (v) Debtor has taken or concurrently herewith is taking all actions necessary to
perfect Secured Party’s security interest in Pledged Equity, including making any
registration, filing or notice that may be necessary or advisable under Articles 8 or 9 of
the Uniform Commercial Code as in effect in the jurisdiction in which the Issuer of such
Pledged Equity was organized, and no other Person has any such registration, filing or
notice in effect with respect to the Pledged Equity.

     (vi) Debtor has delivered a correct and complete copy of the Issuer’s limited liability
company agreement to Secured Party.

     (vii) Neither the execution, delivery or performance of this Security Agreement nor the
exercise of any right or remedy of Secured Party hereunder will cause a default under any
agreement in respect of Pledged Equity to which Debtor or Issuer is a party or otherwise
adversely affect or diminish any Pledged Equity.

     (viii) Debtor’s rights under any agreement in respect of Pledged Equity are enforceable
in accordance with their terms, except as such enforcement may be limited by bankruptcy,
insolvency or similar laws of general application relating to the enforcement of creditors’
rights.

     (d) The Pledged Equity constitutes all equity interests in the Issuer owned by
Debtor as of the date hereof. Debtor has delivered to Secured Party all certificates evidencing
such Pledged Equity, duly indorsed, or accompanied by unit powers duly indorsed, in blank for
transfer.

     (e) Debtor is a corporation and is organized under the laws of the State of Nevada,
which is Debtor’s location pursuant to the UCC. Debtor does not presently conduct business under
any name except the name in which it has executed this Security Agreement, which is the exact name
that appears in Debtor’s organizational documents. Debtor’s only other name during the five year
period prior to the date of this Security Agreement was Quest Resource Corporation.

     (f) Debtor has good and marketable title to the Collateral, free and clear of all
Liens, except for the security interest created by this Security Agreement and Permitted Liens. No
effective financing statement or other registration or instrument similar in effect covering any
Collateral is on file in any recording office except (i) any that have been filed in favor of
Secured Party relating to this Security Agreement and (ii) financing statements covering the
Collateral previously filed against Debtor by Royal Bank of Canada, as administrative agent and
collateral agent for certain lenders party to a Second Amended and Restated Credit Agreement dated
as of September 11, 2009 among Debtor, as borrower, Royal Bank of Canada, as administrative agent
and collateral agent, and the lenders party thereto (as the same may hereafter be amended,
supplemented and restated, the “QRC Credit Agreement”) to perfect a

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security interest in the Pledged Equity which security interest in the Pledged Equity has been
released, discharged and terminated of even date herewith (the “Prior Lien Release”), which Prior
Lien Release is part of the value and consideration received by Debtor in exchange for the Lien
granted hereby in the Collateral.

     (g) Neither the ownership or intended use of the Collateral by Debtor, nor the grant
of the security interest by Debtor to Secured Party hereunder:

     (i) conflicts with:

     (A) any domestic or foreign Law,

     (B) any organizational document of Debtor or the Issuer; or

     (C) any agreement, judgment, license, order or permit applicable to or binding
upon Debtor or the Issuer, or

     (ii) results in or requires the creation of any Lien, charge or encumbrance upon any
asset of Debtor.

     (h) There is no condition precedent to the effectiveness of this Security Agreement
that has not been satisfied or waived.

     (i) Debtor has, independently and without reliance upon Secured Party and based on
such documents and information as it has deemed appropriate, made its own credit analysis and
decision to enter into this Security Agreement and each other Loan Document to which it is or is to
be a party, and Debtor has established adequate means of obtaining from each other Person liable
for any of the Secured Obligations on a continuing basis information pertaining to, and is now and
on a continuing basis will be completely familiar with, the business, condition (financial or
otherwise), operations, performance, properties and prospects of each other Person liable for any
of the Secured Obligations.

     (j) The direct or indirect value of the consideration received and to be received by
Debtor in connection herewith, including without limitation the Prior Lien Release, is reasonably
worth at least as much as the liability of Debtor hereunder and under each other Loan Document to
which Debtor is a party, and the incurrence of such liability in return for such consideration may
reasonably be expected to benefit Debtor, directly or indirectly. Debtor is not “insolvent” on the
date hereof (that is, the sum of Debtor’s absolute and contingent liabilities, including its
obligations hereunder and under each other Loan Document to which Debtor is a party, does not
exceed the fair market value of Debtor’s assets). Debtor’s capital is adequate for the businesses
in which Debtor is engaged and intends to be engaged. Debtor has not incurred (whether hereby or
otherwise), nor does Debtor intend to incur or believe that it will incur, debts that will be
beyond its ability to pay as such debts mature. All balance sheets, earning statements, financial
data and other information concerning Debtor that have been furnished to Secured to induce it to
accept this Security Agreement (or otherwise furnished to Secured Party in connection with the
transactions contemplated hereby or associated herewith) fairly represent the financial condition
of Debtor as of the dates and the results of Debtor’s operations for the periods for which the same
are furnished. None of such balance sheets, earnings and cash flow statements, financial data and
other information contains any untrue statement of a material fact or omits to state any material
fact that is necessary to make any statements contained therein not misleading.

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ARTICLE IV

Covenants

     Section 4.1. General Covenants. Debtor will at all times perform and observe the covenants
contained in the Credit Agreement that are applicable to Debtor for so long as any Secured
Obligation is outstanding. In addition, Debtor will, so long as this Security Agreement shall be
in effect, perform and observe the following:

     (a) Without limitation of any other covenant herein, Debtor shall not cause or
permit any change in its name, identity or organizational structure, or any change to its
jurisdiction of organization, unless Debtor shall have first:

     (i) notified Secured Party of such change at least 30 days prior to the effective date
of such change (or such shorter notice as Secured Party may approve),

     (ii) taken all action requested by Secured Party (under the following subsection (b) or
otherwise) for the purpose of further confirming and protecting Secured Party’s security
interest and rights under this Security Agreement and the perfection and priority thereof,
and

     (iii) if requested by Secured Party, provided to Secured Party a legal opinion to
Secured Party’s satisfaction confirming that such change shall not adversely affect Secured
Party’s security interest and rights under this Security Agreement or the perfection or
priority of such security interest.

In any notice delivered pursuant to this subsection, Debtor will expressly state that the notice is
required by this Security Agreement and contains facts that may require additional filings of
financing statements or other notices for the purposes of continuing perfection of Secured Party’s
security interest in the Collateral.

     (b) Debtor will, at its expense and as from time to time requested by Secured Party,
promptly execute and deliver all further instruments, agreements, filings and registrations, and
take all further action, in order:

     (i) to confirm and validate this Security Agreement and Secured Party’s rights and
remedies hereunder,

     (ii) to correct any error or omission in the description herein of the Secured
Obligations or the Collateral or in any other provision hereof,

     (iii) to perfect, register and protect the security interest and rights created or
purported to be created hereby or to maintain or upgrade in rank the priority of such
security interests and rights,

     (iv) to enable Secured Party to exercise and enforce its rights and remedies hereunder,
or

     (v) otherwise to give Secured Party the full benefits of the rights and remedies
described in or granted under this Security Agreement.

As part of the foregoing, Debtor will, whenever requested by Secured Party:

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     (A) execute (as applicable) and file any financing statement, continuation
statement or other filing or registration relating to Secured Party’s security
interest and rights hereunder, and any amendment thereto, and

     (B) mark its books and records relating to any Collateral to reflect that such
Collateral is subject to this Security Agreement and the security interests
hereunder.

     (c) Debtor will:

     (i) Maintain good and marketable title to all Collateral, free and clear of all Liens
and not grant or allow any such Lien to exist except for (i) the security interest created
by this Security Agreement and (ii) Permitted Liens.

     (ii) Not allow to remain in effect, and cause to be terminated, any financing statement
or other registration or instrument similar in effect covering any Collateral, except any
that has been filed in favor of Secured Party relating to this Security Agreement or with
respect to Permitted Liens.

     (iii) Defend Secured Party’s right, title and special property and security interest in
and to the Collateral against the claims of any Person.

     (d) Debtor shall not take any action that would, or fail to take any action if such
failure would, impair the enforceability, perfection or priority of Secured Party’s security
interest in any Collateral.

     Section 4.2. Covenants Relating Specifically to the Nature of the Collateral. Debtor will,
for so long as any Secured Obligation is outstanding, perform and observe the following:

     (a) If Debtor shall at any time hold or acquire any certificated security evidencing
Collateral, Debtor will forthwith endorse, assign, and deliver the same to Secured Party,
accompanied by such instruments of transfer or assignment duly executed in blank as Secured Party
may from time to time specify.

     (i) If any security evidencing Collateral now or hereafter acquired by Debtor is
uncertificated and is issued to Debtor or its nominee directly by the issuer thereof, Debtor
shall immediately notify Secured Party of such issuance and, pursuant to an agreement in
form and substance satisfactory to Secured Party, cause the issuer thereof to agree to
comply with instructions from Secured Party as to such security, without further consent of
Debtor or such nominee, or take such other action as Secured Party may approve in order to
perfect Secured Party’s security interest in such security.

     (ii) If any security, whether certificated or uncertificated, or other Investment
Property now or hereafter acquired by Debtor and evidencing Collateral, is held by Debtor or
its nominee through a securities intermediary, Debtor shall immediately notify Secured Party
thereof, and, at Secured Party’s request and option, pursuant to an agreement in form and
substance satisfactory to Secured Party, either:

     (A) cause such securities intermediary to agree to comply with entitlement
orders or other instructions from Secured Party to such securities intermediary as
to such securities or other Investment Property, in each case without further
consent of Debtor or such nominee, or

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     (B) in the case of financial assets or other Investment Property held through a
securities intermediary, arrange for Secured Party to become the entitlement holder
with respect to such Investment Property, with Debtor being permitted to exercise
rights to withdraw or otherwise deal with such Investment Property.

Subsections (A) and (B) above shall not apply to any financial asset credited to a
Securities Account for which Secured Party is the securities intermediary or commodity
intermediary.

     (iii) Debtor shall not permit any Pledged Equity that is an equity interest in a
limited liability company or a limited partnership and that is a General Intangible to
become Investment Property unless it shall have given Secured Party at least 30-days’ prior
notice (or such shorter notice as Secured Party may approve) and shall have taken such steps
as Secured Party shall request in connection with the perfection or priority of Secured
Party’s security interest therein as provided in subsections (i) and (ii) above.

     (iv) Debtor shall not:

     (A) adjust, settle, compromise, amend or modify any right in respect of any
Pledged Equity or any agreement relating thereto;

     (B) permit the creation of any additional equity interest in the Issuer, unless
immediately upon creation the same is pledged to Secured Party pursuant hereto to
the extent necessary to give Secured Party a first-priority security interest in
such Pledged Equity after such creation that is in the aggregate at least the same
percentage of such Pledged Equity as was subject hereto before such issue, whether
such additional interest is presently vested or will vest upon the payment of money
or the occurrence or non-occurrence of any other condition; or

     (C) enter into any agreement, other than the Loan Documents or the QRC Credit
Agreement and any document relating to the QRC Credit Agreement, creating, or
otherwise permit to exist, any restriction or condition upon the transfer or
exercise of any rights in respect of any Pledged Equity, including any restriction
or condition upon the transfer, voting or control of any Pledged Equity.

ARTICLE V

Voting and Distribution Rights in Respect Of Pledged Equity

     Section 5.1. Voting Rights. Debtor shall be entitled to exercise all voting and other
consensual rights pertaining to the Pledged Equity or any part thereof for any purpose; provided
that Debtor shall not exercise or refrain from exercising any such right if such action would have
a material adverse effect on the value of any Pledged Equity or on Secured Party’s security
interest or the value thereof; and provided further that, upon the occurrence and during the
continuance of an Event of Default, upon notice from Secured Party to Debtor, all rights to
exercise or refrain from exercising the voting and other consensual rights that Debtor would
otherwise be entitled to exercise shall cease and all such rights shall thereupon become vested in
Secured Party, which thereupon shall have the sole right to exercise or refrain from exercising
such voting and other consensual rights.

     Section 5.2. Dividend Rights While No Event of Default Exists. Debtor shall be entitled to
receive and retain all dividends, interest and other distributions paid in respect of the Pledged
Equity if and to the extent that the payment thereof is not otherwise prohibited by the Loan
Documents; provided that:

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     (a) all dividends, interest and other distributions paid or payable other than in
cash in respect of, and instruments and other property received, receivable or otherwise
distributed in respect of, or in exchange for, any Pledged Equity;

     (b) all dividends and other distributions paid or payable in cash in respect of any
Pledged Equity in connection with a partial or total liquidation or dissolution or in connection
with a reduction of capital, capital surplus or paid in surplus; and

     (c) all cash paid, payable or otherwise distributed in respect of principal of, or
in redemption of, or in exchange for, any Pledged Equity,

shall be, and shall be forthwith delivered to Secured Party to hold as, Collateral and shall, if
received by Debtor, be received in trust for the benefit of Secured Party, be segregated from the
other property or funds of Debtor and be forthwith delivered to Secured Party as Pledged Equity in
the same form as so received (with any necessary indorsement).

     Section 5.3. Actions by Secured Party. Secured Party will execute and deliver (or cause to
be executed and delivered) to Debtor all such proxies and other instruments as Debtor may
reasonably request for the purpose of enabling Debtor to exercise the voting and other rights that
it is entitled to exercise pursuant to Section 5.1 above and to receive the dividends or interest
payments that it is authorized to receive and retain pursuant to Section 5.2 above.

     Section 5.4. Rights While an Event of Default Exists. Upon the occurrence and during the
continuance of an Event of Default:

     (a) All rights of Debtor to receive the dividends, interest and other distributions
that it would otherwise be authorized to receive and retain pursuant to Section 5.2 shall
automatically cease, and all such rights shall thereupon become vested in Secured Party, which
shall thereupon have the sole right to exercise or refrain from exercising such voting and other
consensual rights and to receive and hold as Pledged Equity such dividends, interest and other
distributions.

     (b) All dividends, interest and other distributions that are received by Debtor
contrary to subsection (a) above shall be received in trust for the benefit of Secured Party, shall
be segregated from other funds of Debtor and shall be forthwith paid over to Secured Party as
Pledged Equity in the same form as so received (with any necessary indorsement).

ARTICLE VI

Remedies, Powers and Authorizations

     Section 6.1. Normal Provisions Concerning the Collateral.

     (a) Debtor irrevocably authorizes Secured Party at any time and from time to time to
file, without the signature of Debtor, in any jurisdiction any amendments to existing financing
statements and any initial financing statements and amendments thereto that:

     (i) indicate the nature of the Collateral;

     (ii) contain any other information required for the sufficiency or filing office
acceptance of any financing statement or amendment, including whether Debtor is an
organization, the type of organization and any organization identification number issued to
Debtor; and

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     (iii) properly effectuate the transactions described in the Loan Documents, as
determined by Secured Party in its discretion.

Debtor will furnish any information described in items (i) – (iii) above to Secured Party promptly
upon request. A carbon, photographic or other reproduction of this Security Agreement or any
financing statement describing any Collateral is sufficient as a financing statement and may be
filed in any jurisdiction by Secured Party. Debtor ratifies and approves all financing statements
heretofore filed by or on behalf of Secured Party in any jurisdiction in connection with the
transactions contemplated hereby.

     (b) Debtor appoints Secured Party as Debtor’s attorney in fact and proxy, with full
authority in the place and stead of Debtor and in the name of Debtor or otherwise, from time to
time in Secured Party’s discretion, to take any action and to execute any instrument that Secured
Party may deem necessary or advisable to accomplish the purposes of this Security Agreement
including any action or instrument:

     (i) to ask for, demand, collect, sue for, recover, compound, receive and give
acquittance and receipts for moneys due and to become due under or in respect of any
Collateral;

     (ii) to receive, indorse and collect any drafts or other Instruments or Documents with
respect to any Collateral;

     (iii) to enforce any obligations included in the Collateral; and

     (iv) to file any claims or take any action or institute any proceedings that Secured
Party may deem necessary or desirable for the collection of any Collateral or otherwise to
enforce the rights of Debtor or Secured Party with respect to any Collateral.

Such power of attorney and proxy are coupled with an interest, are irrevocable, and are to be used
by Secured Party for the sole benefit of the Secured Parties.

     (c) If Debtor fails to perform any agreement or obligation contained herein, Secured
Party may, but shall have no obligation to, itself perform, or cause performance of, such agreement
or obligation, and the expenses of Secured Party incurred in connection therewith shall be payable
by Debtor under Section 6.6.

     (d) If any Collateral in which Debtor has granted a security interest hereunder is
at any time in the possession or control of any warehouseman, bailee or any of Debtor’s agents,
Debtor shall, upon the request of Secured Party, notify such warehouseman, bailee or agent of
Secured Party’s rights hereunder and instruct such Person to hold all such Collateral for Secured
Party’s account subject to Secured Party’s instructions. No such request by Secured Party shall be
deemed a waiver of any provision hereof that was otherwise violated by such Collateral being held
by such Person prior to such instructions by Debtor.

     (e) Secured Party shall have the right, at any time in its discretion and without
notice to Debtor, to transfer to or to register in the name of Secured Party or any of its nominees
any Pledged Equity, subject only to the revocable rights specified in Section 5.1(a). Debtor shall
forthwith, after its execution and delivery hereof, cause all Pledged Equity in which it has an
interest on the date hereof to be registered in the name of Secured Party or such of Secured
Party’s nominees as Secured Party shall direct, and, upon Debtor’s acquisition of any interest in
any Pledged Equity in the future, forthwith cause the same to be so registered, in each case
subject only to the revocable rights specified in Section 5.1(a).

     (f) Anything herein to the contrary notwithstanding:

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     (i) Debtor shall remain liable to perform all duties and obligations under the
agreements included in the Collateral to the same extent as if this Security Agreement had
not been executed.

     (ii) The exercise by Secured Party of any right hereunder shall not release Debtor from
any duty or obligation under any agreement included in the Collateral.

     (iii) Secured Party shall not have any obligation or liability under the agreements in
respect of the Collateral by reason of this Security Agreement or any other Loan Document,
nor shall Secured Party be obligated to perform any duty or obligation of Debtor thereunder
or take any action to collect or enforce any claim for payment assigned hereunder.

     Section 6.2. Event of Default Remedies. If an Event of Default shall have occurred and be
continuing, Secured Party may from time to time in its discretion, without limitation and without
notice except as expressly provided below:

     (a) Exercise in respect of the Collateral, in addition to any other right and remedy
provided for herein, under the other Loan Documents, or otherwise available to it, all the rights
and remedies of a secured party on default under the UCC (whether or not the UCC applies to the
affected Collateral) and any other applicable law.

     (b) Require Debtor to, and Debtor will at its expense and upon request of Secured
Party forthwith, assemble all or part of the Collateral as directed by Secured Party and make it
(together with all books, records and information of Debtor relating thereto) available to Secured
Party at a place to be designated by Secured Party that is reasonably convenient to both parties.

     (c) Prior to the disposition of any Collateral:

     (i) to the extent permitted by applicable Law, enter, with or without process of law
and without breach of the peace, any premises where any Collateral is or may be located, and
without charge or liability to Secured Party seize and remove such Collateral from such
premises,

     (ii) have access to and use the Company’s books, records, and information relating to
the Collateral, and

     (iii) store or transfer any Collateral without charge in or by means of any storage or
transportation facility owned or leased by Debtor, process, repair or recondition any
Collateral or otherwise prepare it for disposition in any manner and to the extent Secured
Party deems appropriate and, in connection with such preparation and disposition, use
without charge any copyright, trademark, trade name, patent or technical process used by
Debtor.

     (d) Reduce its claim to judgment or foreclose or otherwise enforce, in whole or in
part, the security interest created hereby by any available judicial procedure.

     (e) Dispose of, at its office, on the premises of Debtor or elsewhere, any
Collateral, as a unit or in parcels, by public or private proceedings, and by way of one or more
contracts (but that the sale of any Collateral shall not exhaust Secured Party’s power of sale, and
sales may be made from time to time, and at any time, until all of the Collateral has been sold or
until the Secured Obligations have been paid and performed in full), and at any such sale it shall
not be necessary to exhibit any Collateral.

     (f) Buy (or allow Secured Party to buy) Collateral, or any part thereof, at any
public sale.

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     (g) Buy (or allow Secured Party to buy) Collateral, or any part thereof, at any
private sale if any Collateral is of a type customarily sold in a recognized market or is of a type
that is the subject of widely distributed standard price quotations.

     (h) Apply by appropriate judicial proceedings for appointment of a receiver for the
Collateral, or any part thereof, and Debtor consents to any such appointment.

     (i) Comply with any applicable state or federal Law requirement in connection with a
disposition of Collateral and such compliance shall not be considered to affect adversely the
commercial reasonableness of any sale of Collateral.

     (j) Sell Collateral without giving any warranty, with respect to title or any other
matter.

     (k) To the extent notice of sale shall be required by law with respect to
Collateral, at least 10-days’ notice to Debtor of the time and place of any public sale or the time
after which any private sale is to be made shall constitute reasonable notification; provided that,
if Secured Party fails in any respect to give such notice, its liability for such failure shall be
limited to the liability (if any) imposed on it by law under the UCC. Secured Party shall not be
obligated to make any sale of Collateral regardless of notice of sale having been given. Secured
Party may adjourn any public or private sale from time to time by announcement at the time and
place fixed therefor, and such sale may, without further notice, be made at the time and place to
which it was so adjourned.

     Section 6.3. Application of Proceeds. If an Event of Default shall have occurred and be
continuing, any cash held by or on behalf of Secured Party and all cash proceeds received by or on
behalf of Secured Party in respect of any sale of, collection from, or other realization upon any
Collateral may, in the discretion of Secured Party, be held by Secured Party as collateral for,
and/or then or at any time thereafter applied in whole or in part by Secured Party against, any
Secured Obligation, in the following manner:

     (a) First, paid to Secured Party for any amounts then owing to Secured Party
for costs or expenses incurred by Secured Party in connection therewith.

     (b) Second, paid to Secured Party, as agent for the Secured Parties (as
defined in the Credit Agreement), in repayment of the Secured Obligations.

     (c) Third, any surplus of such cash or cash proceeds held by or on the
behalf of Secured Party and remaining after payment in full of all the Secured Obligations shall be
paid over to the Debtor or to whatever Person may be lawfully entitled to receive such surplus.

     Section 6.4. Deficiency. If the proceeds of any sale, collection or realization of or upon
the Collateral of Debtor by Secured Party are insufficient to pay all Secured Obligations and all
other amounts to which Secured Party is entitled, Debtor shall be liable for the deficiency,
together with interest thereon as provided in the Loan Documents or (if no interest is so provided)
at such other rate as shall be fixed by applicable law, together with the costs of collection and
the reasonable fees of any attorneys employed by Secured Party to collect such deficiency.
Collateral may be sold at a loss to Debtor, and Secured Party shall have no liability or
responsibility to Debtor for such loss. Debtor acknowledges that a private sale may result in less
proceeds than a public sale.

     Section 6.5. Private Sales of Pledged Equity. Secured Party may deem it impracticable to
effect a public sale of any Pledged Equity and may determine to make one or more private sales of
such Pledged Equity to a restricted group of purchasers that will be obligated to agree, among
other things, to acquire the same for their own account, for investment and not with a view to the
distribution or resale

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thereof. Any such private sale may be at a price and on other terms less favorable to the seller
than the price and other terms that might have been obtained at a public sale. Any such private
sale nevertheless shall be deemed to have been made in a commercially reasonable manner, and
Secured Party shall not have any obligation to delay sale of any such Pledged Equity for the period
of time necessary to permit their registration for public sale under the Securities Act. Any offer
to sell any such Collateral that has been:

     (i) publicly advertised on a bona-fide basis in a newspaper or other publication of
general circulation in the financial communities of New York, New York, Houston, Texas and
Oklahoma City, Oklahoma (to the extent that such an offer may be so advertised without prior
registration under the Securities Act), or

     (ii) made privately in the manner described above to not less than 15 bona-fide
offerees,

shall be deemed to involve a “public disposition” under Chapter 9.610(c) of the UCC,
notwithstanding that such sale may not constitute a “public offering” under the Securities Act, and
Secured Party may bid for such Collateral.

     Section 6.6. Indemnity and Expenses. In addition to, but not in qualification or
limitation of, any similar obligations under other Loan Documents:

     (a) Debtor will indemnify Secured Party and each of its Affiliates (each such Person
being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses,
claims, damages, liabilities and related expenses (including the fees, charges and disbursements of
any counsel for any Indemnitee), and shall indemnify and hold harmless each Indemnitee from all
fees and time charges and disbursements for attorneys who may be employees of any Indemnitee,
incurred by any Indemnitee or asserted against any Indemnitee by any third party or by Debtor
arising out of, in connection with, or as a result of (i) the execution or delivery of this
Security Agreement, any other Loan Document or any agreement or instrument contemplated hereby or
thereby, the performance by the parties hereto of their respective obligations hereunder or
thereunder or the consummation of the transactions contemplated hereby or thereby, or (ii) any
actual or prospective claim, litigation, investigation or proceeding relating to any of the
foregoing, whether based on contract, tort or any other theory, whether brought by a third party or
by Debtor, and regardless of whether any Indemnitee is a party thereto. THE FOREGOING
INDEMNIFICATION WILL APPLY WHETHER OR NOT SUCH LIABILITIES AND COSTS ARE IN ANY WAY OR TO ANY
EXTENT OWED, IN WHOLE OR IN PART, UNDER ANY CLAIM OR THEORY OF STRICT LIABILITY OR CAUSED, IN WHOLE
OR IN PART BY ANY NEGLIGENT ACT OR OMISSION OF ANY KIND BY ANY INDEMNITEE, provided that such
indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims,
damages, liabilities or related expenses (x) are determined by a court of competent jurisdiction by
final and nonappealable judgment to have resulted from the gross negligence or willful misconduct
of such Indemnitee or (y) result from a claim brought by Debtor against an Indemnitee for breach in
bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document, if Debtor
has obtained a final and nonappealable judgment in its favor on such claim as determined by a court
of competent jurisdiction.

     (b) Debtor will upon demand pay to Secured Party the amount of all reasonable
out-of-pocket costs and expenses, including the reasonable fees, charges and disbursements of
Secured Party’s counsel and of any experts and agents, that Secured Party may incur in connection
with:

     (i) the preparation, negotiation, execution, delivery and administration of this
Security Agreement or any modifications or waivers of the provisions hereof (whether or not
the

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transactions contemplated hereby shall be consummated) of this Security Agreement and
the perfection and preservation of this security interest created under this Security
Agreement;

     (ii) the custody, preservation, use or operation of, or the sale of, collection from,
or other realization upon, any Collateral;

     (iii) the exercise or enforcement or protection of any right of Secured Party
hereunder; or

     (iv) the failure by Debtor to perform or observe any of the provisions hereof.

     Section 6.7. Non-Judicial Remedies. In granting to Secured Party the power to enforce its
rights hereunder without prior judicial process or judicial hearing, to the extent permitted by
applicable Law, Debtor waives, renounces and knowingly relinquishes any legal right that might
otherwise require Secured Party to enforce its rights by judicial process and confirms that such
remedies are consistent with the usage of trade, are responsive to commercial necessity and are the
result of a bargain at arm’s length. Secured Party may, however, in its discretion, resort to
judicial process.

     Section 6.8. Limitation on Duty of Secured Party in Respect of Collateral. Beyond the
exercise of reasonable care in the custody thereof, Secured Party shall have no duty as to any
Collateral in its possession or control or in the possession or control of any agent or bailee or
as to the preservation of rights against prior parties or any other rights pertaining thereto.
Secured Party shall be deemed to have exercised reasonable care in the custody of Collateral in its
possession if such Collateral is accorded treatment substantially equal to that which it accords
its own property, and Secured Party shall not be liable or responsible for any loss or damage to
any Collateral, or for any diminution in the value thereof, by reason of the act or omission of any
warehouseman, carrier, forwarding agency, consignee or other agent or bailee selected by Secured
Party in good faith.

ARTICLE VII

Miscellaneous

     Section 7.1. Notices. Any notice or communication required or permitted hereunder shall be
given in writing or by electronic transmission, sent in the manner provided in the Credit
Agreement, if to Secured Party, to the address set forth in the Credit Agreement and for Debtor, to
the address specified in the preamble to this Security Agreement, or to such other address or to
the attention of such other individual as hereafter shall be designated in writing by the
applicable party sent in accordance herewith. Any such notice or communication shall be deemed to
have been given as provided in the Credit Agreement for notices given thereunder.

     Section 7.2. Amendments and Waivers. Except as provided in Section 7.3, no amendment of
this Security Agreement shall be effective unless it is in writing and signed by Debtor and Secured
Party, and no waiver of this Security Agreement or consent to any departure by Debtor herefrom
shall be effective unless it is in writing and signed by Secured Party, and then such waiver or
consent shall be effective only in the specific instance and for the specific purpose for that
given and to the extent specified in such writing. In addition, all such amendments and waivers
shall be effective only if given with the necessary approvals required in the Credit Agreement.

     Section 7.3. Preservation of Rights. No failure on the part of Secured Party to exercise,
and no delay in exercising, any right hereunder or under any other Loan Document shall operate as a
waiver thereof; nor shall any single or partial exercise of any such right preclude any other or
further exercise thereof or the exercise of any other right. The rights and remedies of Secured
Party provided herein and

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in the other Loan Documents are cumulative and are in addition to, and not exclusive of, any rights
or remedies provided by Law or otherwise.

     Section 7.4. Severability. Any provision of this Security Agreement that is prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
such prohibition or invalidity without invalidating the remaining portions hereof or thereof or
affecting the validity or enforceability of such provision in any other jurisdiction.

     Section 7.5. Survival. Each representation and warranty, covenant and other obligation of
Debtor herein shall survive the execution and delivery of this Security Agreement, the execution
and delivery of any other Loan Document and the creation of the Secured Obligations.

     Section 7.6. Binding Effect and Assignment. This Security Agreement shall:

     (a) be binding on Debtor and its successors and permitted assigns, and

     (b) inure, together with all rights and remedies of Secured Party hereunder, to the
benefit of Secured Party and its successors, transferees and assigns.

Without limiting the generality of the foregoing, Secured Party may (except as otherwise provided
in any Loan Document) pledge, assign or otherwise transfer any right under any Loan Document to any
other Person, and such other Person shall thereupon become vested with all benefits in respect
thereof granted herein or otherwise. No right or duty of Debtor hereunder may be assigned or
otherwise transferred without the prior written consent of Secured Party.

     Section 7.7. Release of Collateral; Termination.

     (a) Upon any sale, lease, transfer or other disposition of any Collateral of Debtor
in accordance with the Loan Documents, Secured Party will, at Debtor’s expense, execute and deliver
to Debtor such documents as Debtor shall reasonably request to evidence the release of such
Collateral from the assignment and security interest granted hereby; provided that:

     (i) at the time of such request and such release no Default shall have occurred and be
continuing,

     (ii) Debtor shall have delivered to Secured Party, at least 10 Business Days prior to
the date of the proposed release (or by such lesser notice as Secured Party may approve), a
written request for release describing the item of Collateral and the terms of the sale,
lease, transfer or other disposition in reasonable detail, including the price thereof and
any expenses in connection therewith, together with a form of release for execution by
Secured Party and a certificate of Debtor to the effect that the transaction is in
compliance with the Loan Documents and such other matters as Secured Party may request, and

     (iii) if any Loan Document provides for any application of the proceeds of any such
sale, lease, transfer or other disposition, or any payment to be made, in connection
therewith, such proceeds shall have been applied or payment made as provided therein.

     (b) Upon, and only upon the indefeasible payment and satisfaction in full in cash of
the Secured Obligations and the termination or expiration of the Revolving Commitment of the
Lenders under the Credit Agreement in accordance with the terms thereof, this Security Agreement
and the security interest created hereby shall terminate, all rights in the Collateral shall revert
to Debtor and Secured Party, at a Debtor’s request and at its expense, will:

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     (i) return to Debtor such of Debtor’s Collateral in Secured Party’s possession as shall
not have been sold or otherwise disposed of or applied pursuant to the terms hereof, and

     (ii) execute and deliver to Debtor such documents as Debtor shall reasonably request to
evidence such termination.

     (c) No Debtor is authorized to file any financing statement or amendment or
termination statement with respect to any financing statement originally filed in connection with
this Security Agreement without the prior written consent of Secured Party, subject to Debtors’
rights under Chapters 9.509(d)(2) and 9.518 of the UCC. Notwithstanding the foregoing, Section 6.6
shall survive the termination of this Security Agreement.

     Section 7.8. Governing Law. This Security Agreement shall be governed by and construed in
accordance with the laws of the State of New York.

     Section 7.9. Final Agreement. This Security Agreement and the other Loan Documents
represent the final agreement between the parties hereto and may not be contradicted by evidence of
prior, contemporaneous, or subsequent oral agreements of the parties hereto. There are no
unwritten oral agreements between the parties hereto.

     Section 7.10. Counterparts; Facsimile. This Security Agreement may be executed in any
number of counterparts (and by different parties hereto in different counterparts), each of which
when so executed shall be deemed to be an original and all of which when taken together shall
constitute one and the same agreement. Delivery of an executed counterpart of a signature page of
this Security Agreement by telecopier or other electronic means shall be effective as delivery of a
manually executed counterpart of this Security Agreement.

     Section 7.11. Acceptance by Secured Party. By its acceptance of the benefits hereof,
Secured Party shall be deemed to have agreed to be bound hereby and to perform any obligation on
its part set forth herein.

Remainder of this page intentionally left blank.

Signature page follows.

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     IN WITNESS WHEREOF, Debtor has executed and delivered this Security Agreement as of the date
first-above written.

	 	 	 	 	 
	DEBTOR:	 POSTROCK ENERGY SERVICES CORPORATION,

a Nevada corporation

 	 
	 	By:  	/s/ David C. Lawler
 	 
	 	 	David C. Lawler 	 
	 	 	Chief Executive Officer and President 	 
	 

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