Document:

exv10w6

EXECUTION

SECOND LIEN SENIOR PLEDGE AND SECURITY AGREEMENT

(QUEST CHEROKEE, LLC)

     THIS SECOND LIEN SENIOR PLEDGE AND SECURITY AGREEMENT (herein referred to as this “Security
Agreement”) is executed as of July 11, 2008, by QUEST CHEROKEE, LLC, a Delaware limited liability
company (“Debtor”), whose address is 210 Park Avenue, Suite 2750, Oklahoma City, Oklahoma 73120,
for the benefit of ROYAL BANK OF CANADA (in its capacity as “Administrative Agent” and “Collateral
Agent” for the Secured Parties, as such term is defined in the Second Lien Senior Term Loan
Agreement (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

     WHEREAS, pursuant to that certain Second Lien Senior Term Loan Agreement dated of even date
herewith (as the same may hereafter be amended, supplemented and restated, the “Credit Agreement”),
among QUEST ENERGY PARTNERS, L.P., a Delaware limited partnership (the “MLP”), as guarantor, and
Debtor, 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 have agreed to make Loans for the account of
the Borrowers;

     WHEREAS, Debtor has also entered into (a) that certain Amended and Restated Credit
Agreement dated November 15, 2007 (as amended, restated, replaced, supplemented or modified from
time to time, the “First Lien Credit Agreement”), by and among the Debtor, the Lenders party
thereto from time to time, and Secured Party, as Administrative Agent and Collateral Agent
(together with its permitted successors and assigns, in such capacity, “First Lien Collateral
Agent”), Lead Arranger and Syndication Agent and (b) that certain Pledge and Security Agreement,
dated as of the date thereof (as amended, restated, replaced, supplemented or modified from time to
time, the “First Lien Security Agreement”), by and between Debtor and the First Lien Collateral
Agent, pursuant to which Debtor has granted a first priority Lien (as defined in the First Lien
Credit Agreement) to the First Lien Collateral Agent for the benefit of the First Lien Obligations
(as defined in the First Lien Credit Agreement) on the Collateral to secure such Debtor’s
obligations under the Credit Documents (as defined in the First Lien Credit Agreement);

     WHEREAS, Debtor, the First Lien Collateral Agent, Secured Party and certain other parties
thereto shall enter into an Intercreditor Agreement, dated as of the date hereof (as amended,
restated, replaced, supplemented or modified from time to time, the “Intercreditor Agreement”);
and

     WHEREAS, Debtor has duly authorized the execution, delivery and performance of this Security
Agreement;

     WHEREAS, this Security Agreement is integral to the transactions contemplated by the Loan
Documents, and the execution and delivery of this Security Agreement is a condition precedent to
the Lenders’ obligations to extend credit under the Loan Documents; and

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

     1. REFERENCE 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).

     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. As used herein, the following terms have the
meanings indicated:

     Borrower has the meaning set forth in the first recital.

     Collateral has the meaning set forth in Paragraph 4 hereof.

     Collateral Note Security has the meaning set forth in Paragraph 4 hereof.

     Collateral Notes has the meaning set forth in Paragraph 4 hereof.

     Control Agreement means, with respect to any Collateral consisting of investment
property, Deposit Accounts, electronic chattel paper, and letter-of-credit rights, an
agreement evidencing that Secured Party has “control” (as defined in the UCC) of such
Collateral.

     Copyrights has the meaning set forth in Paragraph 4 hereof.

     Credit Agreement has the meaning set forth in the first recital.

     Deposit Accounts has the meaning set forth in Paragraph 4 hereof.

     Intellectual Property has the meaning set forth in Paragraph 4 hereof.

     Lender means, individually, or Lenders means, collectively, on any date of
determination, the Administrative Agent and Lenders, and their permitted successors and
assigns.

     Material Agreements has the meaning set forth in Paragraph 4 hereof.

     Obligations means, collectively, (a) the Obligations as such term is defined in the
Credit Agreement, and (b) all indebtedness, liabilities, and obligations of Debtor arising
under this Security Agreement; it being the intention and contemplation of Debtor and
Secured Party that future advances will be made by one or more Lenders to the Debtor for a
variety of purposes.

     Obligor means any Person obligated with respect to any of the Collateral, whether as an
account debtor, obligor on an instrument, issuer of securities, or otherwise.

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     Partnerships/Limited Liability Companies shall mean: (a) those partnerships and limited
liability companies listed on Annex B-1 attached hereto and incorporated herein by
reference, as such partnerships or limited liability companies exist or may hereinafter be
restated, amended, or restructured; (b) any partnership, joint venture, or limited liability
company in which Debtor shall, at any time, become a limited or general partner, venturer,
or member; or (c) any partnership, joint venture, or corporation formed as a result of the
restructure, reorganization, or amendment of the Partnerships/Limited Liability Companies.

     Partnership/Limited Liability Company Agreements shall mean: (a) those agreements
listed on Annex B-1 attached hereto and incorporated herein by reference (together with any
modifications, amendments, or restatements thereof); and (b) partnership agreements, joint
venture agreements, or organizational agreements for any of the partnerships, joint
ventures, or limited liability companies described in clause (b) of the definition of
“Partnerships/Limited Liability Companies” above (together with any modifications,
amendments or restatements thereof), and “Partnership/Limited Liability Company Agreement”
means any one of the Partnership/Limited Liability Company Agreements.

     Partnership/Limited Liability Company Interests shall mean all of Debtor’s Rights,
title and interest now or hereafter accruing under the Partnership/Limited Liability Company
Agreements with respect to all distributions, allocations, proceeds, fees, preferences,
payments, or other benefits, which Debtor now is or may hereafter become entitled to receive
with respect to such interests in the Partnerships/Limited Liability Companies and with
respect to the repayment of all loans now or hereafter made by Debtor to the
Partnerships/Limited Liability Companies.

     Patents has the meaning set forth in Paragraph 4 hereof.

     Pledged Securities means, collectively, the Pledged Shares and any other Collateral
constituting securities.

     Pledged Shares has the meaning set forth in Paragraph 4 hereof.

     Rights means rights, remedies, powers, privileges and benefits.

     Security Interest means the security interest granted and the pledge and assignment
made under Paragraph 3 hereof.

     Trademarks has the meaning set forth in Paragraph 4 hereof.

     UCC means the Uniform Commercial Code, including each such provision as it may
subsequently be renumbered, as enacted in the State of New York or other applicable
jurisdiction, as amended at the time in question.

     3. SECURITY INTEREST. In order to secure the full and complete payment and performance of the
Obligations when due, Debtor hereby grants to Secured Party a Security Interest in all of Debtor’s
Rights, titles, and interests in and to the Collateral and pledges, collaterally transfers, and
assigns the Collateral to Secured Party, all upon and subject to the terms and conditions of this
Security Agreement. Such Security Interest is granted and pledge and assignment are made as
security only and shall not subject Secured Party to, or transfer or in any way affect or modify,
any obligation of Debtor
with respect to any of the Collateral or any transaction involving or giving rise thereto. If
the grant, pledge, or collateral transfer or assignment of any specific item of the Collateral is
expressly prohibited

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by any contract, license, law or regulation, then the Security Interest created hereby
nonetheless remains effective to the extent allowed by the UCC or other applicable Law, but is
otherwise limited by that prohibition.

     4. COLLATERAL. As used herein, the term “Collateral” means the following items and types of
property, wherever located, now owned or in the future existing or acquired by Debtor, and all
proceeds and products thereof, and any substitutes or replacements therefor:

     (a) all personal property and fixture property of every kind and nature including,
without limitation, all accounts, chattel paper (whether tangible or electronic), goods
(including inventory, equipment, and any accessions thereto), software, instruments,
investment property, documents, deposit accounts, money, commercial tort claims, letters of
credit and letter-of-credit rights, supporting obligations, Tax refunds, and general
intangibles (including payment intangibles);

     (b) all Rights, titles, and interests of Debtor in and to all outstanding stock,
equity, or other investment securities owned by Debtor, including, without limitation, all
capital stock of each Subsidiary of Debtor set forth on Annex B-1 (“Pledged Shares”);

     (c) all Rights, titles, and interests of Debtor in and to all promissory notes and
other instruments payable to Debtor, including, without limitation, all inter-company notes
from Subsidiaries and those set forth on Annex B-1 (“Collateral Notes”) and all Rights,
titles, interests, and Liens Debtor may have, be, or become entitled to under all present
and future loan agreements, security agreements, pledge agreements, deeds of trust,
mortgages, guarantees, or other documents assuring or securing payment of or otherwise
evidencing the Collateral Notes, including, without limitation, those set forth on Annex B-1
(“Collateral Note Security”);

     (d) the Partnership/Limited Liability Company Interests and all Rights of Debtor with
respect thereto, including, without limitation, all Partnership/Limited Liability Company
Interests set forth on Annex B-1 and all of Debtor’s distribution rights, income rights,
liquidation interest, accounts, contract rights, general intangibles, notes, instruments,
drafts, and documents relating to the Partnership/Limited Liability Company Interests;

     (e) (i) all copyrights (whether statutory or common law, registered or unregistered),
works protectable by copyright, copyright registrations, copyright licenses, and copyright
applications of Debtor, including, without limitation, all of Debtor’s Right, title, and
interest in and to all copyrights registered in the United States Copyright Office or
anywhere else in the world and also including, without limitation, the copyrights set forth
on Annex B-2; (ii) all renewals, extensions, and modifications thereof, (iii) all income,
licenses, royalties, damages, profits, and payments relating to or payable under any of the
foregoing; (iv) the Right to sue for past, present, or future infringements of any of the
foregoing; and (v) all other rights and benefits relating to any of the foregoing throughout
the world; in each case, whether now owned or hereafter acquired by Debtor (“Copyrights”);

     (f) (i) all patents, patent applications, patent licenses, and patentable inventions of
Debtor, including, without limitation, registrations, recordings, and applications thereof
in the United States Patent and Trademark Office or in any similar office or agency of the
United States of America, any state thereof or any other country or any political
subdivision thereof including, without limitation, those set forth on Annex B-2, and all of
the inventions and improvements described and claimed therein; (ii) all continuations,
divisions, renewals, extensions,

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modifications, substitutions, reexaminations, continuations-in-part, or reissues of any
of the foregoing; (iii) all income, royalties, profits, damages, awards, and payments
relating to or payable under any of the foregoing; (iv) the right to sue for past, present,
and future infringements of any of the foregoing; and (v) all other rights and benefits
relating to any of the foregoing throughout the world; in each case, whether now owned or
hereafter acquired by Debtor (“Patents”);

     (g) (i) all trademarks, trademark licenses, trade names, corporate names, company
names, business names, fictitious business names, trade styles, service marks, certification
marks, collective marks, logos, other business identifiers, all registrations, recordings,
and applications thereof including, without limitation, registrations, recordings, and
applications in the United States Patent and Trademark Office or in any similar office or
agency of the United States, any state thereof or any other country or any political
subdivision thereof including, without limitation, those set forth on Annex B-2; (ii) all
reissues, extensions, and renewals thereof; (iii) all income, royalties, damages, and
payments now or hereafter relating to or payable under any of the foregoing including,
without limitation, damages or payments for past or future infringements of any of the
foregoing; (iv) the right to sue for past, present, and future infringements of any of the
foregoing; (v) all rights corresponding to any of the foregoing throughout the world; and
(vi) all goodwill associated with and symbolized by any of the foregoing, in each case,
whether now owned or hereafter acquired by Debtor (“Trademarks”, and collectively with the
Copyrights and the Patents, the “Intellectual Property”);

     (h) (i) all of Debtor’s Rights, titles, and interests in, to, and under those contracts
pursuant to which a default in or breach of the performance or observance of any provision
could reasonably be expected to result in the opinion of the Secured Party in a Material
Adverse Effect (the “Material Agreements”) including, without limitation, all Rights of
Debtor to receive moneys due and to become due under or pursuant to the Material Agreements;
(ii) all rights of Debtor to receive proceeds of any insurance, indemnity, warranty, or
guaranty with respect to the Material Agreements; (iii) all claims of Debtor for damages
arising out of or for breach of or default under the Material Agreements; and (iv) all
rights of Debtor to compel performance and otherwise exercise all rights and remedies under
the Material Agreements;

     (i) all present and future automobiles, trucks, truck tractors, trailers,
semi-trailers, or other motor vehicles or rolling stock, now owned or hereafter acquired by
such Debtor (collectively, the “Vehicles”);

     (j) any and all material deposit accounts, bank accounts, investment accounts, or
securities accounts, now owned or hereafter acquired or opened by Debtor including, without
limitation, any such accounts set forth on Annex B-1, and any account which is a replacement
or substitute for any of such accounts, together with all monies, instruments, certificates,
checks, drafts, wire transfer receipts, and other property deposited therein and all
balances therein (the “Deposit Accounts”);

     (k) all permits, licenses and other authorizations (“Authorizations”) issued by any
governmental authority, to the extent and only to the extent that the grant of a security
interest in any such Authorization does not result in the forfeiture of, or default under,
any such Authorization;

     (l) all present and future distributions, income, increases, profits, combinations,
reclassifications, improvements, and products of, accessions, attachments, and other
additions to,

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tools, parts, and equipment used in connection with, and substitutes and replacements
for, all or part of the Collateral described above;

     (m) all present and future accounts, contract rights, general intangibles, chattel
paper, documents, instruments, cash and noncash proceeds, and other Rights arising from or
by virtue of, or from the voluntary or involuntary sale or other disposition of, or
collections with respect to, or insurance proceeds payable with respect to, or proceeds
payable by virtue of warranty or other claims against the manufacturer of, or claims against
any other Person with respect to, all or any part of the Collateral heretofore described in
this clause or otherwise; and

     (n) all present and future security for the payment to Debtor or any Subsidiary of any
of the Collateral described above and goods which gave or will give rise to any such
Collateral or are evidenced, identified, or represented therein or thereby.

The description of the Collateral contained in this Paragraph 4 shall not be deemed to permit any
action prohibited by this Security Agreement or by the terms incorporated in this Security
Agreement.

     5. REPRESENTATIONS AND WARRANTIES. Debtor represents and warrants to Secured Party that:

     (a) Credit Agreement. Certain representations and warranties in the Credit
Agreement are applicable to Debtor or its assets or operations, and each such representation
is true and correct, in all material respects.

     (b) Binding Obligation/Perfection. This Security Agreement creates a legal,
valid, and binding Lien in and to the Collateral in favor of Secured Party and enforceable
against Debtor. For Collateral in which the Security Interest may be perfected by the filing
of Financing Statements pursuant to Article 9 of the UCC, once those Financing Statements
have been properly filed in the jurisdictions described on Annex A hereto, the Security
Interest in that Collateral will be fully perfected and the Security Interest will
constitute a Second Priority Lien (subject in the case of priority only to the
Liens granted in favor of the First Lien Collateral Agent pursuant to the terms of the
First Lien Security Agreement, and further subject to the Intercreditor Agreement, and
Permitted Liens). With respect to Collateral consisting of investment property (other than
Pledged Securities covered by Paragraph 5(j)), Deposit Accounts, electronic chattel paper,
letter-of-credit rights, and instruments, upon the delivery of such Collateral to Secured
Party or delivery of an executed Control Agreement with respect to such Collateral, the
Security Interest in that Collateral will be fully perfected and the Security Interest will
constitute a first-priority Lien on such Collateral, subject only to Permitted Liens. None
of the Collateral has been delivered nor control with respect thereto given to any Person
other than the Administrative Agent. Other than the Financing Statements and Control
Agreements with respect to this Security Agreement, there are no other financing statements
or control agreements covering any Collateral, other than those evidencing Permitted Liens.
The creation of the Security Interest does not require the consent of any Person that has
not been obtained.

     (c) Debtor Information. Debtor’s exact legal name, mailing address,
jurisdiction of organization, type of entity, and state issued organizational identification
number are as set forth on Annex A hereto.

     (d) Location/Fixtures. (i) Debtor’s place of business and chief executive
office is where Debtor is entitled to receive notices hereunder; the present and foreseeable
location of

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debtor’s books and records concerning any of the Collateral is as set forth on Annex A
hereto, and the location of all other Collateral, including, without limitation, Debtor’s
inventory and equipment (but excluding fixtures) is as set forth on Annex A hereto; and,
except as noted on Annex A hereto, all such books, records, and Collateral are in Debtor’s
possession, and (ii) substantially all the Collateral that is or may be fixtures is located
on or affixed to the real property described in deeds of trust or mortgages executed by
Debtor in favor of Secured Party pursuant to the Credit Agreement or on Annex A hereto.

     (e) Governmental Authority. Other than the filing of Financing Statements
contemplated hereby, appropriate filings to perfect the Security Interest in the
Intellectual Property and the notation of a Lien in favor of the Secured Party on any motor
vehicle certificate of title, no Authorization, approval, or other action by, and no notice
to or filing with, any Governmental Authority is required either (i) for the pledge by
Debtor of the Collateral pursuant to this Security Agreement or for the execution, delivery,
or performance of this Security Agreement by Debtor, or (ii) for the exercise by Secured
Party of the voting or other Rights provided for in this Security Agreement or the remedies
in respect of the Collateral pursuant to this Security Agreement (except as may be required
in connection with the disposition of the Pledged Securities by Laws affecting the offering
and sale of securities generally).

     (f) Maintenance of Collateral. All tangible Collateral which is useful in and
necessary to Debtor’s business is in good repair and condition, ordinary wear and tear
excepted.

     (g) Liens. Debtor owns, leases or has valid rights to use all presently
existing Collateral, and will acquire or lease all hereafter-acquired Collateral, free and
clear of all Liens, except Permitted Liens.

     (h) Collateral. Annex B-1 accurately lists all Collateral Notes, Collateral
Note Security, Pledged Shares, Partnership/Limited Liability Company Interests, commercial
tort claims, and Deposit Accounts.

     (i) Instruments, Chattel Paper, Collateral Notes, and Collateral Note Security.
All material instruments and chattel paper including, without limitation, the Collateral
Notes, have been delivered to Secured Party, together with corresponding endorsements duly
executed by Debtor in favor of Secured Party, and such endorsements have been duly and
validly executed and are binding and enforceable against Debtor in accordance with their
terms. Each material Collateral Note and the documents evidencing the Collateral Note
Security are in full force and effect; there have been no renewals or extensions of, or
amendments, modifications, or supplements which would materially adversely affect such
Collateral Notes or Collateral Note Security; and no “default” or “event of default” has
occurred and is continuing under any such Collateral Note or documents evidencing the
Collateral Note Security. Debtor has good title to the Collateral Notes and Collateral Note
Security, and such Collateral Notes and Collateral Note Security are free from any claim for
credit, deduction, or allowance of an Obligor and free from any defense, condition, dispute,
setoff, or counterclaim which could materially adversely affect the value thereof, and there
is no extension or indulgence with respect thereto.

     (j) Pledged Securities, Pledged Shares. All Collateral that is Pledged Shares
is duly authorized, validly issued, fully paid, and non-assessable (except to the extent
required by applicable Law), and the transfer thereof is not subject to any restrictions,
other than restrictions imposed hereunder and by applicable securities and corporate Laws or
Permitted Liens. The Pledged Securities securing the Obligations include 100% of the issued
and outstanding common

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stock or other equity interests owned by Debtor of each Subsidiary of Debtor. Debtor
has good title to the Pledged Securities, free and clear of all Liens and encumbrances
thereon (except for the Security Interest created hereby or Permitted Liens), and has
delivered to Secured Party (i) all stock certificates, or other instruments or documents
representing or evidencing the Pledged Securities, together with corresponding assignment or
transfer powers duly executed in blank by Debtor, and such powers have been duly and validly
executed and are binding and enforceable against Debtor in accordance with their terms or
(ii) to the extent such Pledged Securities are uncertificated, an executed Acknowledgment of
Pledge in the form of Annex D with respect to such Pledged Securities. The pledge of the
Pledged Securities in accordance with the terms hereof creates a valid and perfected first
priority security interest in the Pledged Securities securing payment of the Obligations,
subject to Permitted Liens.

     (k) Partnership/Limited Liability Company Interests. Each Partnership/Limited
Liability Company issuing a Partnership/Limited Liability Company Interest, is duly
organized, currently existing, and in good standing in the jurisdiction of its formation;
there have been no material amendments, modifications, or supplements to any agreement or
certificate creating any Partnership/Limited Liability Company or any material contract
relating to the Partnerships/Limited Liability Companies, of which Secured Party has not
been advised in writing; no event of default, default, breach, or potential default has
occurred and is continuing under any Partnership/Limited Liability Company Agreement, except
for such defaults or breaches that would not reasonably be expected to result in a Material
Adverse Effect; and no approval or consent of the partners of any Partnership/Limited
Liability Company is required as a condition to the validity and enforceability of the
Security Interest created hereby or the consummation of the transactions contemplated hereby
which has not been duly obtained by Debtor. Debtor has good title to the Partnership/Limited
Liability Company Interests free and clear of all Liens and encumbrances (except for the
Security Interest granted hereby or Permitted Liens). The Partnership/Limited Liability
Company Interests are validly issued, fully paid, and nonassessable (except to the extent
required by applicable Law) and are not subject to statutory, contractual, or other
restrictions governing their transfer, ownership, or control, except as set forth in the
applicable Partnership/Limited Liability Company Agreements or applicable securities Laws or
Permitted Liens. All capital contributions required to be made by the terms of the
Partnership/Limited Liability Company Agreements for each Partnership/Limited Liability
Company have been made. Debtor’s Partnership/Limited Liability Company Interests in Quest
Cherokee Oil Service, LLC are evidenced by certificates and no other Partnership/Limited
Liability Company Interests owned by Debtor are evidenced by certificates.

     (1) Accounts. All Collateral that is accounts, contract rights, chattel paper,
instruments, payment intangibles, or general intangibles is free from any claim for credit,
deduction, or allowance of an Obligor, from any defense, condition, dispute, setoff, or
counterclaim (collectively “Deductions”), and there is no extension or indulgence with
respect thereto, except to the extent such Deductions, extensions and indulgences could not
reasonably be expected to have a Material Adverse Effect.

     (m) Deposit Accounts. With respect to the Deposit Accounts, (i) Debtor
maintains each Deposit Account with the banks listed on Annex B-1 hereto, (ii) upon request
by the Administrative Agent, Debtor shall use its reasonable efforts to, within thirty (30)
days of such request, cause each such bank to acknowledge to Secured Party that each such
Deposit Account is subject to the Security Interest and Liens herein created, that the
pledge of such Deposit Account has been recorded in the books and records of such bank, and
that Secured Party shall have

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“control” (as defined in the UCC) over such Deposit Account, and (iii) Debtor has the
legal Right to pledge and assign to Secured Party the funds deposited and to be deposited in
each such Deposit Account.

     (n) Intellectual Property.

     (i) All of the Intellectual Property is subsisting, valid, and enforceable
(except where any failure to be subsisting, valid and enforceable would not
reasonably be expected to have a Material Adverse Effect). The information
contained on Annex B-2 hereto is true, correct and complete. All issued Patents,
Patent applications, registered Trademarks, Trademark applications, registered
Copyrights, and Copyright applications of Debtor are identified on Annex B-2 hereto.

     (ii) Except for off-the-shelf software and other Intellectual Property of which
Debtor is a licensee (as to which this representation is inapplicable), Debtor is
the sole and exclusive owner of, the entire and unencumbered Right, title, and
interest in and to the Intellectual Property owned by Debtor free and clear of any
Liens including, without limitation, any pledges, assignments, licenses, user
agreements, and covenants by Debtor not to sue third Persons, other than Permitted
Liens or licenses permitted by Paragraph 8(c).

     (iii) As of the date hereof, to Debtor’s knowledge, no third party is
infringing any of Debtor’s Rights under the Intellectual Property.

     (iv) Debtor has performed and will continue to perform all acts and has paid
and will continue to pay all required fees and Taxes to maintain each material item
of the Intellectual Property in full force and effect throughout the world, as
applicable.

     (v) Each of the Patents and Trademarks identified on Annex B-2 hereto, to the
extent required in Debtor’s reasonable business judgment, has been properly
registered with the United States Patent and Trademark Office and in corresponding
offices throughout the world (where appropriate) and each of the Copyrights
identified on Annex B-2 hereto has been properly registered with the United States
Copyright Office and in corresponding offices throughout the world (where
appropriate).

     (vi) As of the date hereof, to Debtor’s knowledge, no claims with respect to
the Intellectual Property have been asserted and are pending (i) to the effect that
the sale, licensing, pledge, or use of any of the products of Debtor’s business
infringes any other party’s valid copyright, trademark, service mark, trade secret,
or other intellectual property Right, (ii) against the use by Debtor of any
Intellectual Property used in the Debtor’s business as currently conducted, or (iii)
challenging the ownership or use by Debtor of any of the Intellectual Property that
Debtor purports to own or use.

The foregoing representations and warranties will be true and correct in all material respects with
respect to any additional Collateral or additional specific descriptions of certain Collateral
delivered to Secured Party in the future by Debtor. The failure of any of these representations or
warranties or any description of Collateral therein to be accurate or complete shall not impair the
Security Interest in any such Collateral.

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     6. COVENANTS. 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), Debtor covenants and agrees with Secured
Party that Debtor will:

     (a) Credit Agreement. (i) Comply with, perform, and be bound by all applicable
covenants and agreements in the Credit Agreement, each of which is hereby ratified and
confirmed.

     (b) Books and Records Concerning Collateral; Inspection Rights. Debtor shall
comply with the provisions of Section 6.09 and 6.10 of the Credit Agreement regarding
records concerning and inspection rights relating to the Collateral. In addition, from time
to time at the request of Secured Party deliver to Secured Party such information regarding
Debtor that is in the possession of Debtor as Secured Party may reasonably request.

     (c) Annexes. Together with the delivery of compliance certificates pursuant to
Section 6.02(a) of the Credit Agreement, update all annexes hereto if any information
therein shall become inaccurate or incomplete and such updated Annexes shall replace the
existing Annexes for all purposes of this Agreement. Notwithstanding any other provision
herein, Debtor’s failure to describe any Collateral required to be listed on any annex
hereto shall not impair Secured Party’s Security Interest in the Collateral.

     (d) Perform Obligations. Perform all of Debtor’s duties under and in
connection with each transaction to which the Collateral, or any material part thereof,
relates, in the ordinary course of business except when in Debtor’s business judgment
non-performance is justified. Notwithstanding anything to the contrary contained herein,
(i) Debtor shall remain liable under the contracts, agreements, documents, and instruments
included in the Collateral to the extent set forth therein to perform all of its duties and
obligations thereunder to the same extent as if this Security Agreement had not been
executed, (ii) the exercise by Secured Party of any of its Rights or remedies hereunder
shall not release Debtor from any of its duties or obligations under the contracts,
agreements, documents, and instruments included in the Collateral, and (iii) Secured Party
shall not have any indebtedness, liability, or obligation under any of the contracts,
agreements, documents, and instruments included in the Collateral by reason of this Security
Agreement, and Secured Party shall not be obligated to perform any of the obligations or
duties of Debtor thereunder or to take any action to collect or enforce any claim for
payment assigned hereunder.

     (e) Intentionally Deleted.

     (f) Collateral in Trust. Hold in trust (and not commingle with other assets of
Debtor) for Secured Party all Collateral that is chattel paper, instruments, Collateral
Notes, Pledged Securities, or documents at any time received by Debtor, and promptly deliver
same to Secured Party, unless Secured Party at its option (which may be evidenced only by a
writing signed by Secured Party stating that Secured Party elects to permit Debtor to so
retain) permits Debtor to retain the same, but any chattel paper, instruments, Collateral
Notes, Pledged Securities, or documents so retained shall be marked to state that they are
assigned to Secured Party; each such instrument shall be endorsed to the order of Secured
Party (but the failure of same to be so marked or endorsed shall not impair the Security
Interest thereon).

     (g) Control. Execute all documents and take any action required by Secured
Party in order for Secured Party to obtain “control” (as defined in the UCC) with respect to
Collateral

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consisting of Deposit Accounts, investment property, uncertificated Pledged Securities,
and letter-of-credit rights. If Debtor at any time holds or acquires an interest in any
electronic chattel paper or any “transferable record,” as that term is defined in the
federal Electronic Signatures in Global and National Commerce Act, or in the Uniform
Electronic Transactions Act as in effect in any relevant jurisdiction, promptly notify
Secured Party thereof and, at the request of Secured Party, take such action as Secured
Party may reasonably request to vest in Secured Party control under the UCC of such
electronic chattel paper or control under the federal Electronic Signatures in Global and
National Commerce Act or, as the case may be, the Uniform Electronic Transactions Act, as so
in effect in such jurisdiction, of such transferable record.

     (h) Further Assurances. At Debtor’s expense and Secured Party’s request, before
or after a Default or Event of Default: (i) file or cause to be filed such applications and
take such other actions as Secured Party may request to obtain the consent or approval of
any Governmental Authority to Secured Party’s Rights hereunder including, without
limitation, the Right to sell all the Collateral upon an Event of Default without additional
consent or approval from such Governmental Authority (and, because Debtor agrees that
Secured Party’s remedies at Law for failure of Debtor to comply with this provision would be
inadequate and that such failure would not be adequately compensable in damages, Debtor
agrees that its covenants in this provision may be specifically enforced); (ii) from time to
time promptly execute and deliver to Secured Party all such other assignments, certificates,
supplemental documents, and financing statements, and do all other acts or things as Secured
Party may reasonably request in order to more fully create, evidence, perfect, continue, and
preserve the priority of the Security Interest and to carry out the provisions of this
Security Agreement; and (iii) pay all filing fees in connection with any financing,
continuation, or termination statement or other instrument with respect to the Security
Interests.

     (i) Encumbrances. Not create, permit, or suffer to exist, and shall defend the
Collateral against, any Lien or other encumbrance on the Collateral, other than Permitted
Liens, and shall defend Debtor’s Rights in the Collateral and Secured Party’s Security
Interest in the Collateral against the claims and demands of all Persons except those
holding or claiming Permitted Liens. Debtor shall do nothing to impair the Rights of Secured
Party in the Collateral.

     (j) Estoppel and Other Agreements and Matters. Upon the reasonable request of
Secured Party, either (i) use commercially reasonable efforts to cause the landlord or
lessor for each location where any of its inventory or equipment is maintained to execute
and deliver to Secured Party an estoppel and subordination agreement in such form as may be
reasonably acceptable to Secured Party and its counsel, or (ii) deliver to Secured Party a
legal opinion or other evidence (in each case that is reasonably satisfactory to Secured
Party and it counsel) that neither the applicable lease nor the Laws of the jurisdiction in
which that location is situated provide for contractual, common Law, or statutory landlord’s
Liens that is senior to or pari passu with the Security Interest.

     (k) Fixtures. For any Collateral that is a fixture or an accession which has
been attached to real estate or other goods prior to the perfection of the Security
Interest, use commercially reasonable efforts to furnish to Secured Party, upon reasonable
demand, a disclaimer of interest in each such fixture or accession and a consent in writing
to the Security Interest of Secured Party therein, signed by all Persons having any interest
in such fixture or accession by virtue of any interest in the real estate or other goods to
which such fixture or accession has been attached.

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     (l) Certificates of Title. Upon the request of Secured Party, if a certificate
of title is issued or outstanding with respect to any Vehicle or other Collateral with a
fair market value of at least $50,000, cause the Security Interest to be properly noted
thereon.

     (m) Warehouse Receipts Non-Negotiable. If any warehouse receipt or receipt in
the nature of a warehouse receipt is issued in respect of any of the Collateral, agree that
such warehouse receipt or receipt in the nature thereof shall not be “negotiable” (as such
term is used in Section 7-104 of the UCC) unless such warehouse receipt or receipt in the
nature thereof is delivered to Secured Party.

     (n) Impairment of Collateral. Not use any material portion of the Collateral,
or permit the same to be used, for any unlawful purpose, in any manner that is reasonably
likely to materially adversely impair the value or usefulness of the Collateral, or in any
manner inconsistent with the provisions or requirements of any policy of insurance thereon
nor affix or install any accessories, equipment, or device on the Collateral or on any
component thereof if such addition will materially impair the original intended function or
use of the Collateral or such component.

     (o) Collateral Notes and Collateral Note Security. Without the prior written
consent of Secured Party not (i) materially modify or substitute, or permit material
modification or substitution of, any Collateral Note or any document evidencing the
Collateral Note Security, if the effect thereof would be to materially adversely affect the
value of the Collateral Notes and Collateral Note Security taken as a whole, or (ii) release
any material portion of any Collateral Note Security unless paid in full or otherwise
specifically required by the terms thereof, except in the exercise of the Debtor’s
reasonable business judgment.

     (p) Securities. Except as permitted by the Credit Agreement, not sell,
exchange, or otherwise dispose of, or grant any option, warrant, or other Right with respect
to, any of the Pledged Securities; and take any action requested by Secured Party to allow
Secured Party to fully enforce its Security Interest in the Pledged Securities including,
without limitation, the filing of any claims with any court, liquidator, trustee, custodian,
receiver, or other like person or party.

     (q) Depository Bank. With respect to any Deposit Accounts, (i) maintain the
Deposit Accounts at the banks (a “Depository Bank”) described on Annex B-1 or such
additional depository banks as described in the notices given pursuant to clause (iv) of
this Section 6(q) as have complied with item (iv) hereof, (ii) upon request of the Secured
Party, deliver to each depository bank a letter in the form of Annex C hereto with respect
to Secured Party’s Rights in such Deposit Account (or on such other reasonable form as may
be provided by the Depository Bank) and use commercially reasonable efforts to obtain the
execution of such letter by each Depository Bank that the pledge of such Deposit Account has
been recorded in the books and records of such bank and that Secured Party shall have
dominion and control over such Deposit Account; (iii) upon request of the Secured Party,
deliver to Secured Party all certificates or instruments, if any, now or hereafter
representing or evidencing the Deposit Accounts, accompanied by duly executed instruments of
transfer or assignment in blank, all in form and substance reasonably satisfactory to
Secured Party; and (iv) notify Secured Party upon establishing any additional Deposit
Accounts and, at the request of Secured Party, use commercially reasonable efforts to obtain
from such depository bank an executed letter
substantially in the form of Annex C (or on such other reasonable form as may be
provided by the Depository Bank) and deliver the same to Secured Party. Secured Party
agrees not to exercise

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control over such Deposit Account unless an Event of Default shall have occurred and be
continuing.

     (t) Marking of Chattel Paper. At the request of Secured Party, not create any
chattel paper without placing a legend on the chattel paper acceptable to Secured Party
indicating that Secured Party has a security interest in the chattel paper.

     (u) Modification of Accounts. In accordance with prudent business practices,
endeavor to collect or cause to be collected from each account debtor under its accounts, as
and when due, any and all amounts owing under such accounts. Except in the ordinary course
of business consistent with prudent business practices and industry standards, without the
prior written consent of Secured Party, Debtor shall not (i) grant any extension of time for
any payment with respect to any of the accounts, (ii) compromise, compound, or settle any of
the accounts for less than the full amount thereof, (iii) release, in whole or in part, any
Person liable for payment of any of the accounts, (iv) allow any credit or discount for
payment with respect to any account other than trade discounts granted in the ordinary
course of business, (v) release any Lien or guaranty securing any account, or (vi) modify or
substitute, or permit the modification or substitution of, any contract to which any of the
Collateral which is accounts relates.

     (v) Intellectual Property.

     (i) Prosecute diligently all applications in respect of Intellectual Property,
now or hereafter pending;

     (ii) Except to the extent not required in Debtor’s reasonable business
judgment, make federal applications on all of its unpatented but patentable
inventions and all of its registrable but unregistered Copyrights and Trademarks;

     (iii) Preserve and maintain all of its material Rights in the Intellectual
Property and protect the Intellectual Property from infringement, unfair
competition, cancellation, or dilution by all appropriate action necessary in
Debtor’s reasonable business judgment including, without limitation, the
commencement and prosecution of legal proceedings to recover damages for
infringement and to defend and preserve its rights in the Intellectual Property;

     (iv) Not abandon any of the Intellectual Property necessary to the conduct of
its business in the exercise of Debtor’s reasonable business judgment;

     (v) Maintain the quality of any and all products and services with respect to
which the Intellectual Property is used;

     (vi) Not enter into any agreement including, but not limited to any licensing
agreement, that is or may be inconsistent with Debtor’s obligations under this
Security Agreement or any of the other Loan Documents;

     (vii) Give Secured Party prompt written notice if Debtor shall obtain Rights to
or become entitled to the benefit of any Intellectual Property not identified on
Annex B-2 hereto; and

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     (viii) If a Default or Event of Default exists, use its reasonable efforts to
obtain any consents, waivers, or agreements necessary to enable Secured Party to
exercise its rights and remedies with respect to the Intellectual Property.

     7. DEFAULT; REMEDIES. If an Event of Default exists, Secured Party may, at its election (but
subject to the terms and conditions of the Credit Agreement), exercise any and all Rights available
to a secured party under the UCC and other applicable law, in addition to any and all other Rights
afforded by the Loan Documents, at law, in equity, or otherwise including, without limitation, (a)
requiring Debtor to assemble all or part of the Collateral and make it available to Secured Party
at a place to be designated by Secured Party which is reasonably convenient to Debtor and Secured
Party, (b) to the extent permitted by Debtor’s insurance carrier, surrendering any policies of
insurance on all or part of the Collateral and receiving and applying the unearned premiums as a
credit on the Obligations, (c) applying by appropriate judicial proceedings for appointment of a
receiver for all or part of the Collateral (and Debtor hereby consents to any such appointment),
and (d) applying to the Obligations any cash held by Secured Party under this Security Agreement,
including, without limitation, any cash in the Cash Collateral Account (defined in Section 8(h)).

     (a) Notice. Reasonable notification of the time and place of any public sale of
the Collateral, or reasonable notification of the time after which any private sale or other
intended disposition of the Collateral is to be made, shall be sent to Debtor and to any
other Person entitled to notice under the UCC; provided that, if any of the Collateral
threatens to decline speedily in value or is of the type customarily sold on a recognized
market, Secured Party may sell or otherwise dispose of the Collateral without notification,
advertisement, or other notice of any kind. It is agreed that notice sent or given not less
than ten Business Days prior to the taking of the action to which the notice relates is
reasonable notification and notice for the purposes of this subparagraph.

     (b) Condition of Collateral; Warranties. Secured Party has no obligation to
clean-up or otherwise prepare the Collateral for sale. Secured Party may sell the Collateral
without giving any warranties as to the Collateral. Secured Party may specifically disclaim
any warranties of title or the like. This procedure will not be considered to affect
adversely the commercial reasonableness of any sale of the Collateral.

     (c) Compliance with Other Laws. Secured Party may comply with any applicable
state or federal law requirements in connection with a disposition of the Collateral and
compliance will not be considered to adversely affect the commercial reasonableness of any
sale of the Collateral.

     (d) Sales of Pledged Securities.

     (i) Debtor agrees that, because of the Securities Act of 1933, as amended, or
the rules and regulations promulgated thereunder (collectively, the “Securities
Act”), or any other Laws or regulations, and for other reasons, there may be legal
or practical restrictions or limitations affecting Secured Party in any attempts to
dispose of certain portions of the Pledged Securities and for the enforcement of its
Rights. For these reasons, Secured Party is hereby authorized by Debtor, but not
obligated, upon the occurrence and during the continuation of an Event of Default,
to sell all or any part of the Pledged Securities at private sale, subject to an
investment letter or in any other
manner which will not require the Pledged Securities, or any part thereof, to
be registered in accordance with the Securities Act or any other Laws or
regulations, at a reasonable

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price at such private sale or other distribution in the manner mentioned above.
Debtor understands that Secured Party may in its discretion approach a limited
number of potential purchasers and that a sale under such circumstances may yield a
lower price for the Pledged Securities, or any part thereof, than would otherwise be
obtainable if such Collateral were either offered to a larger number of potential
purchasers, registered under the Securities Act, or sold in the open market. Debtor
agrees that any such private sale made under this Paragraph 7(d) shall be deemed to
have been made in a commercially reasonable manner, and that Secured Party has no
obligation to delay the sale of any Pledged Securities to permit the issuer thereof
to register it for public sale under any applicable federal or state securities
Laws.

     (ii) Secured Party is authorized, in connection with any such sale, (A) to
restrict the prospective bidders on or purchasers of any of the Pledged Securities
to a limited number of sophisticated investors who will represent and agree that
they are purchasing for their own account for investment and not with a view to the
distribution or sale of any of such Pledged Securities, and (B) to impose such other
limitations or conditions in connection with any such sale as Secured Party
reasonably deems necessary in order to comply with applicable Law. Debtor covenants
and agrees that it will execute and deliver such documents and take such other
action as Secured Party reasonably deems necessary in order that any such sale may
be made in compliance with applicable Law. Upon any such sale, Secured Party shall
have the Right to deliver, assign, and transfer to the purchaser thereof the Pledged
Securities so sold. Each purchaser at any such sale shall hold the Pledged
Securities so sold absolutely free from any claim or Right of Debtor of whatsoever
kind, including any equity or Right of redemption of Debtor. Debtor, to the extent
permitted by applicable Law, hereby specifically waives all Rights of redemption,
stay, or appraisal which it has or may have under any Law now existing or hereafter
enacted.

     (iii) Debtor agrees that ten days’ written notice from Secured Party to Debtor
of Secured Party’s intention to make any such public or private sale or sale at a
broker’s board or on a securities exchange shall constitute reasonable notice under
the UCC. Such notice shall (A) in case of a public sale, state the time and place
fixed for such sale, (B) in case of sale at a broker’s board or on a securities
exchange, state the board or exchange at which such a sale is to be made and the day
on which the Pledged Securities, or the portion thereof so being sold, will first be
offered to sale at such board or exchange, and (C) in the case of a private sale,
state the day after which such sale may be consummated. Any such public sale shall
be held at such time or times within ordinary business hours and at such place or
places as Secured Party may fix in the notice of such sale. At any such sale, the
Pledged Securities may be sold in one lot as an entirety or in separate parcels, as
Secured Party may reasonably determine. Secured Party shall not be obligated to make
any such sale pursuant to any such notice. Secured Party may, without notice or
publication, adjourn any public or private sale or cause the same to be adjourned
from time to time by announcement at the time and place fixed for the sale, and such
sale may be made at any time or place to which the same may be so adjourned.

     (iv) In case of any sale of all or any part of the Pledged Securities on credit
or for future delivery, the Pledged Securities so sold may be retained by Secured
Party until the selling price is paid by the purchaser thereof, but Secured Party
shall not incur any liability in case of the failure of such purchaser to take up
and pay for the Pledged

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Securities so sold and in case of any such failure, such Pledged Securities may
again be sold upon like notice. Secured Party, instead of exercising the power of
sale herein conferred upon it, may proceed by a suit or suits at Law or in equity to
foreclose the Security Interests and sell the Pledged Securities, or any portion
thereof, under a judgment or decree of a court or courts of competent jurisdiction.

     (v) Without limiting the foregoing, or imposing upon Secured Party any
obligations or duties not required by applicable Law, Debtor acknowledges and agrees
that, in foreclosing upon any of the Pledged Securities, or exercising any other
Rights or remedies provided Secured Party hereunder or under applicable Law, Secured
Party may, but shall not be required to, (A) qualify or restrict prospective
purchasers of the Pledged Securities by requiring evidence of sophistication or
creditworthiness, and requiring the execution and delivery of confidentiality
agreements or other documents and agreements as a condition to such prospective
purchasers’ receipt of information regarding the Pledged Securities or participation
in any public or private foreclosure sale process, (B) provide to prospective
purchasers business and financial information regarding Debtor and its Subsidiaries
available in the files of Secured Party at the time of commencing the foreclosure
process, without the requirement that Secured Party obtain, or seek to obtain, any
updated business or financial information or verify, or certify to prospective
purchasers, the accuracy of any such business or financial information, or (C) offer
for sale and sell the Pledged Securities with or without first employing an
appraiser, investment banker, or broker with respect to the evaluation of the
Pledged Securities, the solicitation of purchasers for Pledged Securities, or the
manner of sale of Pledged Securities.

     (e) Application of Proceeds. Secured Party shall apply the proceeds of any sale
or other disposition of the Collateral under this Paragraph 7 in the following order: first,
to the payment of all expenses incurred in retaking, holding, and preparing any of the
Collateral for sale(s) or other disposition, in arranging for such sale(s) or other
disposition, and in actually selling or disposing of the same (all of which are part of the
Obligations); second, toward repayment of amounts expended by Secured Party under Paragraph
8; and third, toward payment of the balance of the Obligations in the order and manner
specified in the Credit Agreement and the Intercreditor Agreement. Any surplus remaining
shall be delivered to Debtor or as a court of competent jurisdiction may direct. If the
proceeds are insufficient to pay the Obligations in full, Debtor shall remain liable for any
deficiency.

     (f) Sales on Credit. If Secured Party sells any of the Collateral upon credit,
Debtor will be credited only with payments actually made by the purchaser, received by the
Secured Party, and applied to the indebtedness of the purchaser. In the event the purchaser
fails to pay for the Collateral, Secured Party may resell the Collateral.

     8. OTHER RIGHTS OF SECURED PARTY.

     (a) Performance. If Debtor fails to keep the Collateral in good repair, working
order, and condition, as required by the Loan Documents, or fails to pay when due all Taxes
on any of the Collateral in the manner required by the Loan Documents, or fails to preserve
the priority of the Security Interest in any of the Collateral, or fails to keep the
Collateral insured as required by the Loan Documents, or otherwise fails to perform any of
its obligations under the Loan Documents with respect to the Collateral, then Secured Party
may, at its option, but without being required to do so, make such repairs, pay such Taxes,
prosecute or defend any suits in relation to

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the Collateral, or insure and keep insured the Collateral in any amount deemed
appropriate by Secured Party, or take all other action which Debtor is required, but has
failed or refused, to take under the Loan Documents. Any sum which may be expended or paid
by Secured Party under this subparagraph (including, without limitation, court costs and
reasonable attorneys’ fees) shall bear interest from the dates of expenditure or payment at
the Default Rate until paid and, together with such interest, shall be payable by Debtor to
Secured Party upon demand and shall be part of the Obligations.

     (b) Collection. If an Event of Default exists and upon notice from Secured
Party, each Obligor with respect to any payments on any of the Collateral (including,
without limitation, dividends and other distributions with respect to the Pledged Securities
and Partnership/Limited Liability Company Interests, payments on Collateral Notes, insurance
proceeds payable by reason of loss or damage to any of the Collateral, or payments or
distributions with respect to Deposit Accounts) is hereby authorized and directed by Debtor
to make payment directly to Secured Party, regardless of whether Debtor was previously
making collections thereon. Subject to Paragraph 8(f) hereof, until such notice is given,
Debtor is authorized to retain and expend all payments made on Collateral. If an Event of
Default exists, Secured Party shall have the Right in its own name or in the name of Debtor
to compromise or extend time of payment with respect to all or any portion of the Collateral
for such amounts and upon such terms as Secured Party may determine; to demand, collect,
receive, receipt for, sue for, compound, and give acquittances for any and all amounts due
or to become due with respect to Collateral; to take control of cash and other proceeds of
any Collateral; to endorse the name of Debtor on any notes, acceptances, checks, drafts,
money orders, or other evidences of payment on Collateral that may come into the possession
of Secured Party; to sign the name of Debtor on any invoice or bill of lading relating to
any Collateral, on any drafts against Obligors or other Persons making payment with respect
to Collateral, on assignments and verifications of accounts or other Collateral and on
notices to Obligors making payment with respect to Collateral; to send requests for
verification of obligations to any Obligor; and to do all other acts and things necessary to
carry out the intent of this Security Agreement. If an Event of Default exists and any
Obligor fails or refuses to make payment on any Collateral when due, Secured Party is
authorized, in its sole discretion, either in its own name or in the name of Debtor, to take
such action as Secured Party shall deem appropriate for the collection of any amounts owed
with respect to Collateral or upon which a delinquency exists. Regardless of any other
provision hereof, however, Secured Party shall never be liable for its failure to collect,
or for its failure to exercise diligence in the collection of, any amounts owed with respect
to Collateral, nor shall it be under any duty whatsoever to anyone except Debtor to account
for funds that it shall actually receive hereunder. Without limiting the generality of the
foregoing, Secured Party shall have no responsibility for ascertaining any maturities,
calls, conversions, exchanges, offers, tenders, or similar matters relating to any
Collateral, or for informing Debtor with respect to any of such matters (irrespective of
whether Secured Party actually has, or may be deemed to have, knowledge thereof). The
receipt of Secured Party to any Obligor shall be a full and complete release, discharge, and
acquittance to such Obligor, to the extent of any amount so paid to Secured Party.

     (c) Intellectual Property. For purposes of enabling Secured Party to exercise
its Rights and remedies under this Security Agreement and enabling Secured Party and its
successors and assigns to enjoy the full benefits of the Collateral, Debtor hereby grants to
Secured Party an irrevocable, nonexclusive license (exercisable without payment of royalty
or other compensation to Debtor) to use, license, or sublicense any of the Intellectual
Property. Debtor shall provide Secured Party with reasonable access to all media in which
any of the Intellectual Property may

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be recorded or stored and all computer programs used for the completion or printout
thereof. This license shall also inure to the benefit of all successors, assigns, and
transferees of Secured Party. If an Event of Default exists, Secured Party may require that
Debtor assign all of its Right, title, and interest in and to the Intellectual Property or
any part thereof to Secured Party or such other Person as Secured Party may designate
pursuant to documents satisfactory to Secured Party. If no Default or Event of Default
exists, Debtor shall have the exclusive, non-transferable Right and license to use the
Intellectual Property in the ordinary course of business and the exclusive Right to grant to
other Persons licenses and sublicenses with respect to the Intellectual Property for full
and fair consideration.

     (d) Record Ownership of Securities. If an Event of Default exists, Secured
Party at any time may have any Collateral that is Pledged Securities and that is in the
possession of Secured Party, or its nominee or nominees, registered in its name, or in the
name of its nominee or nominees, as Secured Party; and, as to any Collateral that is Pledged
Securities so registered, Secured Party shall execute and deliver (or cause to be executed
and delivered) to Debtor all such proxies, powers of attorney, dividend coupons or orders,
and other documents as Debtor may reasonably request for the purpose of enabling Debtor to
exercise the voting Rights and powers which it is entitled to exercise under this Security
Agreement or to receive the dividends and other distributions and payments in respect of
such Collateral that is Pledged Securities or proceeds thereof which it is authorized to
receive and retain under this Security Agreement.

     (e) Voting of Securities. As long as no Event of Default exists, Debtor is
entitled to exercise all voting Rights pertaining to any Pledged Securities and
Partnership/Limited Liability Company Interests; provided however, that no vote shall be
cast or consent, waiver, or ratification given or action taken without the prior written
consent of Secured Party which would be inconsistent with or violate any provision of this
Security Agreement or any other Loan Document; and provided further that Debtor shall give
Secured Party at least five Business Days’ prior written notice in the form of an officers’
certificate of the manner in which it intends to exercise, or the reasons for refraining
from exercising, any voting or other consensual Rights pertaining to the Collateral or any
part thereof which might have a Material Adverse Effect on the value of the Collateral or
any part thereof. If an Event of Default exists and if Secured Party elects to exercise such
Right, the Right to vote any Pledged Securities shall be vested exclusively in Secured
Party. To this end, Debtor hereby irrevocably constitutes and appoints Secured Party the
proxy and attorney-in-fact of Debtor, with full power of substitution, to vote, and to act
with respect to, any and all Collateral that is Pledged Securities standing in the name of
Debtor or with respect to which Debtor is entitled to vote and act, subject to the
understanding that such proxy may not be exercised unless an Event of Default exists. The
proxy herein granted is coupled with an interest, is irrevocable, and shall continue until
the Obligations have been paid and performed in full.

     (f) Certain Proceeds. Notwithstanding any contrary provision herein, any and
all

     (i) dividends, interest, or 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 Collateral;

     (ii) dividends, interest, or other distributions hereafter paid or payable in
cash in respect of any Collateral in connection with a partial or total liquidation
or dissolution, or in connection with a reduction of capital, capital surplus, or
paid-in-surplus;

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     (iii) cash paid, payable, or otherwise distributed in redemption of, or in
exchange for, any Collateral; and

     (iv) dividends, interest, or other distributions paid or payable in violation
of the Loan Documents,

shall be part of the Collateral hereunder, and shall, if received by Debtor, be held in
trust for the benefit of Secured Party, and shall forthwith be delivered to Secured Party
(accompanied by proper instruments of assignment and/or stock and/or bond powers executed by
Debtor in accordance with Secured Party’s instructions) to be held subject to the terms of
this Security Agreement. Any cash proceeds of Collateral which come into the possession of
Secured Party during the continuance of an Event of Default (including, without limitation,
insurance proceeds) may, at Secured Party’s option, be applied in whole or in part to the
Obligations (to the extent then due), be released in whole or in part to or on the written
instructions of Debtor for any general or specific purpose, or be retained in whole or in
part by Secured Party as additional Collateral. Any cash Collateral in the possession of
Secured Party may be invested by Secured Party in certificates of deposit issued by Secured
Party (if Secured Party issues such certificates) or by any state or national bank having
combined capital and surplus greater than $100,000,000 with a short term rating from Moody’s
and S&P of P-1 and A-1+, respectively, or in securities issued or guaranteed by the United
States or any agency thereof. Secured Party shall never be obligated to make any such
investment and shall never have any liability to Debtor for any loss which may result
therefrom. All interest and other amounts earned from any investment of Collateral may be
dealt with by Secured Party in the same manner as other cash Collateral. Except as
specifically provided herein, the provisions of this subparagraph are applicable whether or
not a Default or Event of Default exists.

     (g) Use and Operation of Collateral. Should any Collateral come into the
possession of Secured Party, Secured Party may use or operate such Collateral for the
purpose of preserving it or its value pursuant to the order of a court of appropriate
jurisdiction or in accordance with any other Rights held by Secured Party in respect of such
Collateral. Debtor covenants to promptly reimburse and pay to Secured Party, at Secured
Party’s request, the amount of all reasonable expenses (including, without limitation, the
cost of any insurance and payment of Taxes or other charges) incurred by Secured Party in
connection with its custody and preservation of Collateral, and all such expenses, costs,
Taxes, and other charges shall bear interest at the Default Rate until repaid and, together
with such interest, shall be payable by Debtor to Secured Party upon demand and shall become
part of the Obligations. However, the risk of accidental loss or damage to, or diminution in
value of, Collateral is on Debtor, and Secured Party shall have no liability whatever for
failure to obtain or maintain insurance, nor to determine whether any insurance ever in
force is adequate as to amount or as to the risks insured. With respect to Collateral that
is in the possession of Secured Party, Secured Party shall have no duty to fix or preserve
Rights against prior parties to such Collateral and shall never be liable for any failure to
use diligence to collect any amount payable in respect of such Collateral, but shall be
liable only to account to Debtor for what it may actually collect or receive thereon. The
provisions of this subparagraph are applicable whether or not an Event of Default exists.

     (h) Cash Collateral Account. If an Event of Default exists and is continuing,
Secured Party shall have, and Debtor hereby grants to Secured Party, the Right and authority
to transfer all funds on deposit in the Deposit Accounts to a Cash Collateral Account
(herein so called) maintained with a depository institution acceptable to Secured Party and subject to the
exclusive direction, domain, and control of Secured Party, and no disbursements or
withdrawals shall be

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permitted to be made by Debtor from such Cash Collateral Account. Such Cash Collateral
Account shall be subject to the Security Interest and Liens in favor of Secured Party herein
created, and Debtor hereby grants a security interest to Secured Party on behalf of Lenders
in and to, such Cash Collateral Account and all checks, drafts, and other items ever
received by Debtor for deposit therein. Furthermore, if an Event of Default exists, Secured
Party shall have the Right, at any time in its discretion without notice to Debtor, (i) to
transfer to or to register in the name of Secured Party or any Lender or nominee any
certificates of deposit or deposit instruments constituting Deposit Accounts and shall have
the Right to exchange such certificates or instruments representing Deposit Accounts for
certificates or instruments of smaller or larger denominations and (ii) to take and apply
against the Obligations any and all funds then or thereafter on deposit in the Cash
Collateral Account or otherwise constituting Deposit Accounts.

     (i) Power of Attorney. Debtor hereby irrevocably constitutes and appoints
Secured Party and any officer or agent thereof, with full power of substitution, as its true
and lawful attorney-in-fact with full irrevocable power and authority in the name of Debtor
or in its own name, to take after the occurrence and during the continuance of an Event of
Default any and all action and to execute any and all documents and instruments which
Secured Party at any time and from time to time deems necessary or desirable to accomplish
the purposes of this Security Agreement and, without limiting the generality of the
foregoing, Debtor hereby gives Secured Party the power and Right on behalf of Debtor and in
its own name to do any of the following from time to time after the occurrence and during
the continuance of an Event of Default without notice to or the consent of Debtor:

     (i) to transfer any and all funds on deposit in the Deposit Accounts to the
Cash Collateral Account as set forth in herein;

     (ii) to receive, endorse, and collect any drafts or other instruments or
documents in connection with clause (b) above and this clause (i);

     (iii) to use the Intellectual Property or to grant or issue any exclusive (if
Debtor has exclusive rights to such Intellectual Property) or non-exclusive license
under the Intellectual Property to anyone else, and to perform any act necessary for
the Secured Party to assign, pledge, convey, or otherwise transfer title in or
dispose of the Intellectual Property to any other Person;

     (iv) to demand, sue for, collect, or receive, in the name of Debtor or in its
own name, any money or property at any time payable or receivable on account of or
in exchange for any of the Collateral and, in connection therewith, endorse checks,
notes, drafts, acceptances, money orders, documents of title or any other
instruments for the payment of money under the Collateral or any policy of
insurance;

     (v) to pay or discharge taxes, Liens, or other encumbrances levied or placed on
or threatened against the Collateral;

     (vi) to notify post office authorities to change the address for delivery of
mail to Debtor to an address designated by Secured Party and to receive, open, and
dispose of mail addressed to Debtor; and

     (vii) (A) to direct account debtors and any other parties liable for any
payment under any of the Collateral to make payment of any and all monies due and to
become

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due thereunder directly to Secured Party or as Secured Party shall direct; (B)
to receive payment of and receipt for any and all monies, claims, and other amounts
due and to become due at any time in respect of or arising out of any Collateral;
(C) to sign and endorse any invoices, freight or express bills, bills of lading,
storage or warehouse receipts, drafts against debtors, assignments, proxies, stock
powers, verifications, and notices in connection with accounts and other documents
relating to the Collateral; (D) to commence and prosecute any suit, action, or
proceeding at Law or in equity in any court of competent jurisdiction to collect the
Collateral or any part thereof and to enforce any other Right in respect of any
Collateral; (E) to defend any suit, action, or proceeding brought against Debtor
with respect to any Collateral; (F) to settle, compromise, or adjust any suit,
action, or proceeding described above and, in connection therewith, to give such
discharges or releases as Secured Party may deem appropriate; (G) to exchange any of
the Collateral for other property upon any merger, consolidation, reorganization,
recapitalization, or other readjustment of the issuer thereof and, in connection
therewith, deposit any of the Collateral with any committee, depositary, transfer
agent, registrar, or other designated agency upon such terms as Secured Party may
determine; (H) to add or release any guarantor, endorser, surety, or other party to
any of the Collateral; (I) to renew, extend, or otherwise change the terms and
conditions of any of the Collateral; (J) to endorse Debtor’s name on all
applications, documents, papers, and instruments necessary or desirable in order for
Secured Party to use or maintain any of the Intellectual Property; (K) to make,
settle, compromise or adjust any claims under or pertaining to any of the Collateral
(including claims under any policy of insurance); (L) to execute on behalf of Debtor
any financing statements or continuation statements with respect to the Security
Interests created hereby, and to do any and all acts and things to protect and
preserve the Collateral including, without limitation, the protection and
prosecution of all Rights included in the Collateral; and (M) to sell, transfer,
pledge, convey, make any agreement with respect to or otherwise deal with any of the
Collateral as fully and completely as though Secured Party were the absolute owner
thereof for all purposes, and to do, at Secured Parry’s option and Debtor’s expense,
at any time, or from time to time, all acts and things which Secured Party deems
necessary to protect, preserve, maintain, or realize upon the Collateral and Secured
Party’s security interest therein.

This power of attorney is a power coupled with an interest and shall be irrevocable. Secured
Party shall be under no duty to exercise or withhold the exercise of any of the Rights,
powers, privileges, and options expressly or implicitly granted to Secured Party in this
Security Agreement, and shall not be liable for any failure to do so or any delay in doing
so. Neither Secured Party nor any Person designated by Secured Party shall be liable for any
act or omission or for any error of judgment or any mistake of fact or Law. This power of
attorney is conferred on Secured Party solely to protect, preserve, maintain, and realize
upon its Security Interest in the Collateral. Secured Party shall not be responsible for any
decline in the value of the Collateral and shall not be required to take any steps to
preserve rights against prior parties or to protect, preserve, or maintain any Lien given to
secure the Collateral.

     (j) Purchase Money Collateral. To the extent that Secured Party or any Lender
has advanced or will advance funds to or for the account of Debtor to enable Debtor to
purchase or otherwise acquire Rights in Collateral, Secured Party or such Lender, at its
option, may pay such funds (i) directly to the Person from whom Debtor will make such
purchase or acquire such Rights, or (ii) to Debtor, in which case Debtor covenants to
promptly pay the same to such

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Person, and forthwith furnish to Secured Party evidence satisfactory to Secured Party
that such payment has been made from the funds so provided.

     (k) Subrogation. If any of the Obligations are given in renewal or extension or
applied toward the payment of indebtedness secured by any Lien, Secured Party shall be, and
is hereby, subrogated to all of the Rights, titles, interests, and Liens securing the
indebtedness so renewed, extended, or paid.

     (1) Indemnification. Debtor hereby assumes all liability for the Collateral,
for the Security Interest, and for any use, possession, maintenance, and management of, all
or any of the Collateral including, without limitation, any Taxes arising as a result of, or
in connection with, the transactions contemplated herein, and agrees to assume liability
for, and to indemnify and hold Secured Party and each Lender harmless from and against, any
and all claims, causes of action, or liability, for injuries to or deaths of Persons and
damage to property, howsoever arising from or incident to such use, possession, maintenance,
and management, whether such Persons be agents or employees of Debtor or of third parties,
or such damage be to property of Debtor or of others. Debtor agrees to indemnify, save, and
hold Secured Party and each Lender harmless from and against, and covenants to defend
Secured Party and each Lender against, any and all losses, damages, claims, costs,
penalties, liabilities, and expenses (collectively, “Claims”), including, without
limitation, court costs and attorneys’ fees, and any of the foregoing arising from the
negligence of Secured Party or any Lender, or any of their respective officers, employees,
agents, advisors, employees, or representatives, howsoever arising or incurred because of,
incident to, or with respect to Collateral or any use, possession, maintenance, or
management thereof; provided however, that the indemnity set forth in this Paragraph 8(l)
will not apply to Claims caused by the gross negligence or willful misconduct of Secured
Party or any Lender.

     9. INTERCREDITOR AGREEMENT. ALL LIENS GRANTED BY THIS INSTRUMENT SHALL, TO THE EXTENT SET
FORTH IN THE INTERCREDITOR AGREEMENT BE SUBORDINATE AND JUNIOR TO ALL LIENS GRANTED BY DEBTOR TO
SECURE THE FIRST LIEN OBLIGATIONS REGARDLESS OF THE RELATIVE PRIORITY OF SUCH LIENS, SUCH
INTERCREDITOR AGREEMENT BEING INCORPORATED HEREIN AND BY THIS REFERENCE BEING MADE A PART
HEREOF.

     10. MISCELLANEOUS.

     (a) Continuing Security Interest. This Security Agreement creates a continuing
security interest in the Collateral and shall (i) remain in full force and effect until the
payment in full of the Obligations (other than any contingent indemnity obligations) and
compliance with Section 10.01(e) of the Credit Agreement with respect to Outstanding Swap
Contracts secured by any Loan Document; and (ii) inure to the benefit of and be enforceable
by Secured Party, Lenders, and their respective successors, transferees, and assigns.
Without limiting the generality of the foregoing clause (ii), Secured Party and Lenders may
assign or otherwise transfer any of their respective Rights under this Security Agreement to
any other Person in accordance with the terms and provisions of Section 10.07 of the Credit
Agreement, and to the extent of such assignment or transfer such Person shall thereupon
become vested with all the Rights and benefits in respect thereof granted herein or
otherwise to Secured Party or Lenders, as the case may be. Upon payment in full of the
Obligations (other than any contingent indemnity obligations) and compliance with Section
10.01(e) of the Credit Agreement with respect to Outstanding Swap Contracts secured by any
Loan Document, Debtor shall be entitled to the return, upon its request

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and at its expense, of such of the Collateral as shall not have been sold or otherwise
applied pursuant to the terms hereof.

     (b) Reference to Miscellaneous Provisions. This Security Agreement is one of
the “Loan Documents” referred to in the Credit Agreement, and all provisions relating to
Loan Documents set forth in Article X of the Credit Agreement are incorporated herein by
reference, the same as if set forth herein verbatim.

     (c) Term; Release of Liens. The Administrative Agent shall release the Liens
created by this Security Agreement in accordance with Section 10.01 of the Credit Agreement;
provided that no Obligor, if any, on any of the Collateral shall ever be obligated to make
inquiry as to the termination of this Security Agreement, but shall be fully protected in
making payment directly to Secured Party until actual notice of such total payment of the
Obligations is received by such Obligor. At such time as the Liens created by this Security
Agreement are to be released pursuant to this paragraph, Secured Party shall, at the request
and expense of the Debtor following such termination, promptly deliver to Debtor any
Collateral held by the Secured Party hereunder, and promptly execute and deliver to Debtor
such documents and instruments as Debtor shall reasonably request to evidence such
termination and release as provided in the Credit Agreement. In addition, if any of the
Collateral shall be sold, transferred, assigned or otherwise disposed of by Debtor in a
transaction permitted by the Credit Agreement, then the Secured Party, at the request and
expense of Debtor, shall promptly execute and deliver releases as provided in the Credit
Agreement.

     (d) Actions Not Releases. The Security Interest and Debtor’s obligations and
Secured Party’s Rights hereunder shall not be released, diminished, impaired, or adversely
affected by the occurrence of any one or more of the following events: (i) the taking or
accepting of any other security or assurance for any or all of the Obligations; (ii) any
release, surrender, exchange, subordination, or loss of any security or assurance at any
time existing in connection with any or all of the Obligations; (iii) the modification of,
amendment to, or waiver of compliance with any terms of any of the other Loan Documents
without the notification or consent of Debtor, except as required therein (the Right to such
notification or consent being herein specifically waived by Debtor); (iv) the insolvency,
bankruptcy, or lack of corporate or trust power of any party at any time liable for the
payment of any or all of the Obligations, whether now existing or hereafter occurring; (v)
any renewal, extension, or rearrangement of the payment of any or all of the Obligations,
either with or without notice to or consent of debtor, or any adjustment, indulgence,
forbearance, or compromise that may be granted or given by Secured Party or any Lender to
Debtor; (vi) any neglect, delay, omission, failure, or refusal of Secured Party or any
Lender to take or prosecute any action in connection with any other agreement, document,
guaranty, or instrument evidencing, securing, or assuring the payment of all or any of the
Obligations; (vii) any failure of Secured Party or any Lender to notify Debtor of any
renewal, extension, or assignment of the Obligations or any part thereof, or the release of
any Collateral or other security, or of any other action taken or refrained from being taken
by Secured Party or any Lender against Debtor or any new agreement between or among Secured
Party or one or more Lenders and Debtor, it being understood that except as expressly
provided herein, neither Secured Party nor any Lender shall be required to give Debtor any
notice of any kind under any circumstances whatsoever with respect to or in connection with
the Obligations including, without limitation, notice of acceptance of this Security
Agreement or any Collateral ever delivered to or for the account of Secured Party hereunder;
(viii) the illegality, invalidity, or unenforceability of all or any part of the Obligations
against any party obligated with respect

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thereto by reason of the fact that the Obligations, or the interest paid or payable
with respect thereto, exceeds the amount permitted by Law, the act of creating the
Obligations, or any part thereof, is ultra vires, or the officers, partners, or trustees
creating same acted in excess of their authority, or for any other reason; or (ix) if any
payment by any party obligated with respect thereto is held to constitute a preference under
applicable Laws or for any other reason Secured Party or any Lender is required to refund
such payment or pay the amount thereof to someone else.

     (e) Waivers. Except to the extent expressly otherwise provided herein or in
other Loan Documents and to the fullest extent permitted by applicable Law, Debtor waives
(i) any Right to require Secured Party or any Lender to proceed against any other Person, to
exhaust its Rights in Collateral, or to pursue any other Right which Secured Party or any
Lender may have; (ii) with respect to the Obligations, presentment and demand for payment,
protest, notice of protest and nonpayment, and notice of the intention to accelerate; and
(iii) all Rights of marshaling in respect of any and all of the Collateral.

     (f) Financing Statement; Authorization. Secured Party shall be entitled at any
time to file this Security Agreement or a carbon, photographic, or other reproduction of
this Security Agreement, as a financing statement, but the failure of Secured Party to do so
shall not impair the validity or enforceability of this Security Agreement. Debtor hereby
irrevocably authorizes Secured Party at any time and from time to time to file in any UCC
jurisdiction any initial or other financing statements and amendments thereto that (i)
indicate the Collateral (A) as “all assets of Debtor” or words of similar effect, regardless
of whether any particular asset comprised in the Collateral falls within the scope of
Article 9 of the UCC of the state or such jurisdiction or whether such assets are included
in the Collateral hereunder, or (B) as being of an equal or lesser scope or with greater
detail, and (ii) contain any other information required by Article 9 of the UCC of the state
or such jurisdiction for the sufficiency or filing office acceptance of any financing
statement or amendment, including (A) whether Debtor is an organization, the type of
organization, and any organization identification number issued to Debtor and, (B) in the
case of a financing statement filed as a fixture filing or indicating Collateral that is
as-extracted collateral or timber to be cut, a sufficient description of real property to
which the Collateral relates. Debtor agrees to furnish any such information to Secured Party
promptly upon request.

     (g) Amendments. This Security Agreement may be amended only by an instrument in
writing executed jointly by Debtor and Secured Party, and supplemented only by documents
delivered or to be delivered in accordance with the express terms hereof.

     (h) Multiple Counterparts. This Security Agreement has been executed in a
number of identical counterparts, each of which shall be deemed an original for all purposes
and all of which constitute, collectively, one agreement; but, in making proof of this
Security Agreement, it shall not be necessary to produce or account for more than one such
counterpart.

     (i) Parties Bound; Assignment. This Security Agreement shall be binding on
Debtor and Debtor’s legal representatives, successors, and assigns and shall inure to the
benefit of Secured Party and Secured Party’s successors and assigns.

     (i) Secured Party is the agent for each Lender under the Credit Agreement and
each Affiliate of a Lender party to any Lender Hedging Agreement, the Security
Interest and all Rights granted to Secured Party hereunder or in connection herewith
are for the ratable benefit of each Lender and each such Affiliate, and Secured
Party may,

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without the joinder of any Lender or any such Affiliate, exercise any and all
Rights in favor of Secured Party or Lenders or any such Affiliates hereunder,
including, without limitation, conducting any foreclosure sales hereunder, and
executing full or partial releases hereof, amendments or modifications hereto, or
consents or waivers hereunder. The Rights of each Lender or any such Affiliate
vis-à-vis Secured Party and each other Lender or any such Affiliate may be subject
to one or more separate agreements between or among such parties, but Debtor need
not inquire about any such agreement or be subject to any terms thereof unless
Debtor specifically joins therein; and consequently, neither Debtor nor Debtor’s
legal representatives, successors, and assigns shall be entitled to any benefits or
provisions of any such separate agreements or be entitled to rely upon or raise as a
defense, in any manner whatsoever, the failure or refusal of any party thereto to
comply with the provisions thereof.

     (ii) Debtor may not, without the prior written consent of Secured Party, assign
any Rights, duties, or obligations hereunder.

     (j) Governing Law. The substantive laws of the State of New York, except to
the extent the laws of another jurisdiction govern the creation, perfection, validity, or
enforcement of liens under this Security Agreement, and the applicable federal laws of the
United States, shall govern the validity, construction, enforcement and interpretation of
this security agreement and all of the other loan documents.

     (k) The provisions of Section 10.10 of the Credit Agreement are incorporated herein as
if set forth herein.

     (1) All notices given pursuant hereto shall be given in the manner set forth in the
Credit Agreement, if to Secured Party, to the address of Secured Party therein set forth and
if to Debtor, to the following address:

210 Park Avenue, Suite 2750

Oklahoma City, Oklahoma 73102

Facsimile: (405) 600-7704

Telephone: (405) 600-7722

     THIS AGREEMENT 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.

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

	 	 	 	 	 
	 	QUEST CHEROKEE, LLC, a

Delaware limited liability company

 	 
	 	By:  	
/s/ Jerry D. Cash 	 
	 	 	Jerry D. Cash, President and
Chief Executive Officer 	 
	 	 	 	 
	 

Signature Page

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ANNEX A TO SECURITY AGREEMENT

DEBTOR INFORMATION AND LOCATION OF COLLATERAL

	A.	 	Exact Legal Name of Debtor: Quest Cherokee, LLC.
	 
	B.	 	Mailing Address of Debtor: 210 Park Avenue, Suite 2750, Oklahoma City, Oklahoma 73102.
	 
	C.	 	Type of Entity: limited liability company.
	 
	D.	 	Jurisdiction of Organization: Delaware.
	 
	E.	 	State Issued Organizational Identification Number: 3739332.
	 
	F.	 	Tax ID Number: 20-0470965.
	 
	G.	 	Location of Books and Records: 210 Park Avenue, Suite 2750, Oklahoma City, Oklahoma
73102.
	 
	H.	 	Location of Collateral: 210 Park Avenue, Suite 2750, Oklahoma City, Oklahoma 73102.
	 
	I.	 	Location of Real Property:

	 	•	 	Kansas Counties: Allen, Chautauqua, Elk, Greenwood, Labette, Montgomery, Neosho,
Wilson and Woodson.
	 
	 	•	 	Oklahoma Counties: Craig and Nowata.
	 
	 	•	 	New York Counties: Steuben
	 
	 	•	 	West Virginia Counties: Braxton, Lincoln, Cabell, Kanawha, Ritchie, Lewis, Wood,
Wayne, Wetzel, Calhoun, Doddridge, Pleasants, and Gilmer.

	J.	 	Jurisdiction(s) for Filing Financing Statements: Delaware.
	 
	K.	 	Fixture filings in the relevant counties in which the properties are located:

	 	•	 	Kansas Counties: Allen, Chautauqua, Elk, Greenwood, Labette, Montgomery, Neosho,
Wilson and Woodson.
	 
	 	•	 	Oklahoma Counties: Craig and Nowata
	 
	 	•	 	New York Counties: Steuben
	 
	 	•	 	West Virginia Counties: Braxton, Lincoln, Cabell, Kanawha, Ritchie, Lewis, Wood,
Wayne, Wetzel, Calhoun, Doddridge, Pleasants, and Gilmer

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ANNEX B-1 TO SECURITY AGREEMENT

COLLATERAL DESCRIPTIONS

	A.	 	Collateral Notes and Collateral Note Security: None
	 
	B.	 	Pledged Shares: None.
	 
	C.	 	Partnership/Limited Liability Company Interests:

	 	•	 	100% of the issued and outstanding membership interests in Quest Cherokee Oilfield
Service, LLC, a Delaware limited liability company.

	D.	 	Agreements:

	 	•	 	Limited Liability Company Agreement of Quest Cherokee Oilfield Service, LLC dated
August 16, 2004.

	E.	 	Commercial Tort Claims: None
	 
	F.	 	Deposit Accounts (including name of bank, address and account number):

	 	•	 	Account #632559407 at JPMorgan Chase.
	 
	 	•	 	Account #630373702 at JPMorgan Chase.
	 
	 	•	 	Account #737308247 at JPMorgan Chase.

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ANNEX B-2 TO SECURITY AGREEMENT

INTELLECTUAL PROPERTY

	1.	 	Registered Copyrights and Copyright Applications: None
	 
	2.	 	Issued Patents and Patent Applications: None
	 
	3.	 	Registered Trademarks and Trademark Applications: None

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ANNEX C TO SECURITY AGREEMENT

DEPOSIT ACCOUNT CONTROL AGREEMENT

                    , 20     

                                                            

                                                            

                                                            

Ladies and Gentlemen:

This letter is to notify you (the “Depository Bank”) that, pursuant to that certain Pledge and
Security Agreement dated as of                     , 200__ (as amended, modified, supplemented, or restated
from time to time, the “Security Agreement”),
                    
                    ,
a company organized under the
laws of                      (the “Pledgor”), has granted to Royal Bank of Canada as Administrative Agent
and Collateral Agent (“Pledgee”) a first priority security interest in and lien upon, (a) Account
No.                      (the “Account”) maintained by Pledgor with you, (b) any extensions or renewals of
the Account if the Account is one which may be extended or renewed, and (c) all of Pledgor’s right,
title, and interest (whether now existing or hereafter created or arising) in and to the Account,
all sums from time to time on deposit therein, credited thereto, or payable thereon, all
instruments, documents, certificates, and other writings evidencing the Account, and any and all
proceeds of any thereof (the items described in clauses (a), (b) and (c) being herein collectively
called the “Collateral”),

In connection therewith, the parties hereto agree (which agreement by Pledgor will be construed as
instructions to the Depository Bank):

	1.	 	The Depository Bank is instructed to register the pledge on its books and hold the Collateral
in a pledged status account.
	 
	2.	 	The Depository Bank is instructed to deliver to Pledgee copies of monthly statements on the
account(s) identified below:
	 
	3.	 	The Account will be styled:
	 
	4.	 	All dividends, interest, gains, and other profits on the Collateral will be reported in the
name and tax identification number of Pledgor.
	 
	5.	 	If so notified by Pledgee, the Depository Bank will not, without the prior written consent of
Pledgee, allow any of the Collateral or any interest therein to be sold, transferred, or
withdrawn by or for the benefit of Pledgor.
	 
	6.	 	This letter agreement gives Pledgee “control” of the Account and the Collateral. The
Depository Bank agrees to comply with any order or instruction from Pledgee as to the
withdrawal or disposition of any funds from time to time credited to the Account, or as to any
other matters relating to the Collateral, without the further consent of Pledgor. The
Depository Bank shall be fully entitled to rely upon such instructions from Pledgee even if
such instructions are contrary to any instructions or demands that Pledgor may give to the
Depository Bank.

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Annex C — Page 1

 

 

	7.	 	Pledgee agrees to indemnify and hold the Depository Bank, its officers and employees,
harmless from and against any and all claims, causes of action, liabilities, lawsuits,
demands, and/or damages, including, without limitation any and all costs, including court
costs and reasonable attorneys’ fees, that may arise or result from the Depository Bank
complying with the instructions and orders of Pledgee given in connection with Pledgee’s
exercise of its control over and secured rights in the Account and the Collateral except to
the extent that such claims, causes of action, liabilities, lawsuits, demands, and/or damages
are found in a final, non-appealable judgment by a court of competent jurisdiction to have
resulted from the gross negligence or willful misconduct of the Depository Bank.
	 
	8.	 	Pledgor agrees to indemnify and hold the Depository Bank, its officers and employees,
harmless from and against any and all claims, causes of action, liabilities, lawsuits,
demands, and/or damages, including, without limitation, any and all costs, including court
costs and reasonable attorneys’ fees, that may arise or result from the Depository Bank
entering into and performing its obligations under this letter agreement except to the extent
that such claims, causes of action, liabilities, lawsuits, demands, and/or damages are found
in a final, non-appealable judgment by a court of competent jurisdiction to have resulted from
the gross negligence or willful misconduct of the Depository Bank.
	 
	9.	 	The Depository Bank represents that it has not received notice regarding any lien,
encumbrance, or other claim to the Account or the Collateral from any person other than
pursuant to this letter agreement and has not entered into another agreement with any other
party to act on such party’s instructions with respect to the Account. The Depository Bank
further agrees not to enter into any such agreement with any other party.
	 
	10.	 	The Depository Bank subordinates’ to the security interest of Pledgee any right of recoupment
or set-off, or to assert any security interest or other lien, that it may at any time have
against or in any of the Collateral on account of any credit or other obligations owed to the
Depository Bank by Pledgor or any other person. The Depository Bank may, however, from time to
time debit the Account for any of its customary charges in maintaining the Account or for
reimbursement for the reversal of any provisional credits granted by the Depository Bank to
the Account, to the extent, in each case, that Pledgor has not separately paid or reimbursed
Depository Bank therefor.
	 
	11.	 	To the extent a conflict exists between the terms of this letter agreement and any account
agreement between Pledgor and the Depository Bank, the terms of this letter agreement will
control.
	 
	12.	 	The terms of this letter agreement will in no way be modified except by a writing signed by
all parties hereto.
	 
	13.	 	Each of the parties executing this letter agreement represents that he has the proper
authority to execute this letter agreement.

Cherokee Pledge and

Security Agreement

Annex C — Page 2

 

 

IN WITNESS WHEREOF, Pledgor and Pledgee have agreed to the terms of this letter agreement as
of the date first indicated above.

	 	 	 	 	 
	Pledgor:

[NAME OF ENTITY]

 	 	 
	By:  	 	 	 
	 	Name:  	 	 	 
	 	Title:  	 	 	 
	 
	Pledgee:

ROYAL BANK OF CANADA,

as Administrative Agent

 	 	 
	By:  	 	 	 
	 	Name:  	 	 	 
	 	Title:  	 	 	 
	 

Acknowledged and Agreed on
                    
                  , 200   :

	 	 	 	 	 
	Depository Bank:

[NAME OF ENTITY]

 	 	 
	By:  	 	 	 
	 	Name:  	 	 	 
	 	Title:  	 	 	 
	 

Cherokee Pledge and

Security Agreement

Annex C — Page 3

 

 

ANNEX D TO SECURITY AGREEMENT

ACKNOWLEDGMENT OF PLEDGE

PARTNERSHIP/LIMITED LIABILITY COMPANY:

INTEREST OWNER:

     BY THIS ACKNOWLEDGMENT OF PLEDGE, dated as of              
       
              , 200   ,
              
       
              (the “Partnership/Limited Liability Company”) hereby acknowledges the
pledge in favor of Royal Bank of Canada (“Pledgee”), in its capacity as Administrative Agent and
Collateral Agent for certain Lenders and as Secured Party under that certain Pledge and Security
Agreement dated as of                     , 200__ (as amended, modified, supplemented, or restated from time
to time, the “Security Agreement”), against, and a security interest in favor of Pledgee in, all of
       
                    ’s (the “Interest Owner”) Rights in connection with any partnership
interest in the Partnership/Limited Liability Company now and hereafter owned by the Interest Owner
(“Partnership/Limited Liability Company Interest”).

     A. Pledge Records. The Partnership/Limited Liability Company has identified Pledgee’s
interest in all of the Interest Owner’s Right, title, and interest in and to all of the Interest
Owner’s Partnership/Limited Liability Company Interest as subject to a pledge and security interest
in favor of Pledgee in the Partnership/Limited Liability Company records.

     B. Partnership/Limited Liability Company Distributions, Accounts, and Correspondence.
The Partnership/Limited Liability Company hereby acknowledges that (i) all proceeds, distributions,
and other amounts payable to the Interest Owner, including, without limitation, upon the
termination, liquidation, and dissolution of the Partnership/Limited Liability Company shall be
paid and remitted to the Pledgee upon demand, (ii) all funds in deposit accounts shall be held for
the benefit of Pledgee, and (iii) all future correspondence, accountings of distributions, and tax
returns of the Partnership/Limited Liability Company shall be provided to the Pledgee. The
Partnership/Limited Liability Company acknowledges and accepts such direction and hereby agrees
that it shall, upon the written demand by the Administrative Agent, pay directly to the
Administrative Agent at its offices at Royal Bank Plaza, P.O. Box 50, 200 Bay Street,
12th Floor, South Tower, Toronto, Ontario M5J 2W7 any and all distributions, income, and
cash flow arising from the Partnership/Limited Liability Company Interests whether payable in cash,
property or otherwise, subject to and in accordance with the terms and conditions of the
Partnership/Limited Liability Company Agreement. The Pledgee may from time to time notify the
Partnership/Limited Liability Company of any change of address to which such amounts are to be
paid.

Remainder of Page Intentionally Blank.

Signature Page to Follow.

Annex D — Page 1

 

 

     EXECUTED as of the date first stated in this Acknowledgment of Pledge.

	 	 	 	 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	[PARTNERSHIP/LIMITED LIABILITY

COMPANY]

 	 
	 	By:  	 	 
	 	 	as [General Partner] [Manager] 	 
	 	 	 	 
	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Annex D — Page 2exv10w7

EXECUTION

INTERCREDITOR AGREEMENT

          This INTERCREDITOR AGREEMENT (this “Agreement”), is dated as of July 11, 2008, and entered
into by and among ROYAL BANK OF CANADA, in its capacity as administrative and collateral agent (in
such capacities, with its successors and assigns, the “First Lien Agent”) for the First Lien
Secured Parties (as defined below), in its capacity as administrative agent and collateral agent
(in such capacities, with its successors and assigns, the “Second Lien Agent”) for the Second Lien
Secured Parties (as defined below), and as collateral agent for Secured Parties (as defined below)
(in such capacity, “Collateral Agent”), and QUEST CHEROKEE, LLC, a Delaware limited liability
company (the “Borrower”), for itself and on behalf of each of the other Credit Parties (as defined
below).

          WHEREAS, the Borrower, the First Lien Agent and certain financial institutions (with their
respective successors and assigns, the “First Lien Lenders”) are parties to an Amended and Restated
Credit Agreement dated November 15, 2007 (as amended, supplemented, restated or otherwise modified
from time to time, the “Existing First Lien Agreement”), pursuant to which such financial
institutions have agreed to make loans and extend other financial accommodations to the Borrower;
and

          WHEREAS, the Borrower, the Second Lien Agent and certain lenders (with their respective
successors and assigns, the “Second Lien Lenders”) are parties to a Second Lien Senior Term Loan
Agreement of even date herewith (as amended, supplemented, restated or otherwise modified from time
to time, the “Second Lien Agreement”), pursuant to which such financial institutions have agreed to
make loans to the Borrower; and

          WHEREAS, pursuant to the First Lien Security Documents (as defined below) Borrower and the
other Credit Parties have granted liens and security interests in the Common Collateral (as defined
below) in favor of the First Lien Agent on behalf of the First Lien Secured Parties, as security
for the payment and performance of the First Lien Obligations (as defined below); and

          WHEREAS, pursuant to the Second Lien Security Documents (as defined below) Borrower and the
other Credit Parties have granted liens and security interests in the Common Collateral in favor of
the Second Lien Agent, on behalf of Secured Parties, as security for the payment and performance of
the Second Lien Obligations (as defined below), which liens and security interests will be junior,
subject and subordinated to the First Liens (as defined below); and

          WHEREAS, pursuant to the initial Shared Security Documents (as defined below) Borrower and the
other Credit Parties have granted liens and security interests in the Common Collateral in favor of
the Collateral Agent on behalf of (i) the First Lien Secured Parties, as security for the payment
and performance of the First Lien Obligations and (ii) the Second Lien Secured Parties, as security
for the payment and performance of the Second Lien Obligations, which liens and security interests
will be junior, subject and subordinated to the First Liens; and

Intercreditor Agreement

1

 

          WHEREAS, the First Lien Lenders have agreed to permit the grant of such Second Liens (as
defined below) on the terms and conditions of this Agreement; and

          WHEREAS, Collateral Agent has agreed to act as collateral agent for First Lien Secured Parties
and Second Lien Secured Parties for the purposes of dealing with the Common Collateral and
apportioning payments among the First Lien Secured Parties and the Second Lien Secured Parties with
respect to proceeds thereof;

          NOW THEREFORE, in consideration of the foregoing and the mutual covenants herein contained and
other good and valuable consideration, the existence and sufficiency of which is expressly
recognized by all of the parties hereto, the parties agree as follows:

SECTION 1   Definitions.

          The following terms, as used herein, have the following meanings:

          “Bankruptcy Code” means the United States Bankruptcy Code (11 U.S.C. §101 et seq.), as amended
from time to time.

          “Cash Management Obligations” means, with respect to any Credit Party, any obligations of such
Credit Party owed to the First Lien Agent or any First Lien Lender (or any of their respective
affiliates) in respect of treasury management arrangements, depositary or other cash management
services.

          “Common Collateral” means all assets that are both First Lien Collateral and Second Lien
Collateral.

          “Comparable Second Lien Security Document” means, in relation to any Common Collateral subject
to any First Lien Security Document, that Second Lien Security Document that creates a security
interest in the same Common Collateral, granted by the same Credit Party, as applicable.

          “Credit Party” means the Borrower and each direct or indirect affiliate or shareholder (or
equivalent) of the Borrower or any of its affiliates that is now or hereafter becomes a party to
any First Lien Document or Second Lien Document.

          “Enforcement Action” means, with respect to the First Lien Collateral or the Second Lien
Collateral, the exercise of any rights and remedies with respect to any Common Collateral securing
such obligations or the commencement or prosecution of enforcement of any of the rights and
remedies under, as applicable, the First Lien Documents or the Second Lien Documents, or applicable
law, including without limitation the exercise of any rights of set-off or recoupment, and the
exercise of any rights or remedies of a secured creditor under the Uniform Commercial Code of an
applicable jurisdiction or under the Bankruptcy Code.

          “First Lien Agreement” means (i) the Existing First Lien Agreement and (ii) any other credit
agreement, loan agreement, note agreement, promissory note, indenture or other agreement or
instrument evidencing or governing the terms of any indebtedness or other financial accommodation
that has been incurred to extend, replace, refinance or refund in whole

Intercreditor Agreement

2

 

or in part the indebtedness and other obligations outstanding under the Existing First Lien
Agreement or any other agreement or instrument referred to in this clause (ii). Any reference to
the First Lien Agreement hereunder shall be deemed a reference to any First Lien Agreement then
extant.

          “First Lien Collateral” means all assets, whether now owned or hereafter acquired by the
Borrower or any other Credit Party, in which a Lien is granted or purported to be granted in favor
of First Lien Secured Parties or in favor of Collateral Agent for the benefit of First Lien Secured
Parties, as security for any First Lien Obligation.

          “First Lien Documents” means the First Lien Agreement and each First Lien Security Document.

          “First Lien Obligations” means (i) all principal of and interest (including without limitation
any Post-Petition Interest) and premium (if any) on all loans made pursuant to the First Lien
Agreement, (ii) all reimbursement obligations (if any) and interest thereon (including without
limitation any Post-Petition Interest) with respect to any letter of credit or similar instruments
issued pursuant to the First Lien Agreement, (iii) all Hedging Obligations of any Credit Party owed
to a First Lien Secured Party, (iv) all Cash Management Obligations of any Credit Party, and (v)
all fees, expenses and other amounts payable from time to time pursuant to the First Lien
Documents, in each of the foregoing cases whether or not allowed or allowable against any Credit
Party or their estates in an Insolvency Proceeding. To the extent any payment with respect to any
First Lien Obligation (whether by or on behalf of any Credit Party, as proceeds of security,
enforcement of any right of setoff or otherwise) is declared to be a fraudulent conveyance or a
preference in any respect, set aside or required to be paid to a debtor in possession, any Second
Lien Secured Party, receiver or similar Person, then the obligation or part thereof originally
intended to be satisfied shall, for the purposes of this Agreement and the rights and obligations
of the First Lien Secured Parties and the Second Lien Secured Parties, be deemed to be reinstated
and outstanding as if such payment had not occurred.

          “First Lien Obligations Payment Date” means the first date on which (i) the First Lien
Obligations (other than those that constitute Unasserted Contingent Obligations) have been
indefeasibly paid in cash in full (or cash collateralized or defeased in accordance with the terms
of the First Lien Documents), (ii) all commitments to extend credit under the First Lien Documents
have been terminated, and (iii) there are no outstanding letters of credit or similar instruments
issued under the First Lien Documents (other than such as have been cash collateralized or defeased
in accordance with the terms of the First Lien Security Documents).

          “First Lien Secured Parties” means the First Lien Agent, the First Lien Lenders (or their
affiliates), and any other holders of First Lien Obligations, including replacement First Lien
Lenders, and Collateral Agent, acting in its capacity as collateral agent for the benefit of First
Lien Secured Parties under any Shared Security Document.

          “First Lien Security Documents” means each “Mortgage”, each “Security Agreement” now or
hereafter executed (as such terms are defined in the First Lien Agreement), any other documents
that are designated under the First Lien Agreement as “Collateral Documents” for

Intercreditor Agreement

3

 

purposes of this Agreement that grant a Lien in favor of First Lien Secured Parties, or in
favor of Collateral Agent, for the benefit of First Lien Secured Parties, to secure First Lien
Obligations.

          “First Liens” means (i) the first and prior liens and security interests granted in the Common
Collateral in favor of the First Lien Agent on behalf of the First Lien Secured Parties, as
security for the payment and performance of the First Lien Obligations and (ii) the first and prior
liens and security interests granted in the Common Collateral in favor of the Collateral Agent on
behalf of the First Lien Secured Parties, as security for the payment and performance of the First
Lien Obligations.

          “Hedging Obligations” means, with respect to any Credit Party, any obligations of such Credit
Party owed to any First Lien Secured Party (or any of its affiliates) or to any Second Lien Secured
Party (or any of its affiliates) in respect of any Lender Hedging Agreement.

          “Insolvency Proceeding” means any proceeding in respect of bankruptcy, insolvency, winding up,
receivership, dissolution or assignment for the benefit of creditors, in each of the foregoing
events whether under the Bankruptcy Code or any similar federal, state or foreign bankruptcy,
insolvency, reorganization, receivership or similar law.

          “Lender Hedging Agreement” has, as the context may require, the meaning given such term in the
First Lien Agreement or Second Lien Agreement, respectively.

          “Lien” means, with respect to any asset, (a) any mortgage, deed of trust, deed to secure debt,
lien, pledge, hypothecation, assignment, encumbrance, charge or security interest in, on or of such
asset, (b) the interest of a vendor or a lessor under any conditional sale agreement, capital lease
or title retention agreement (or any financing lease having substantially the same economic effect
as any of the foregoing) relating to such asset, and (c) in the case of securities, any purchase
option, call or similar right of a third party with respect to such securities.

          “Person” means, any person, individual, sole proprietorship, partnership, joint venture,
corporation, limited liability company, unincorporated organization, association, institution,
entity, party, including any government and any political subdivision, agency or instrumentality
thereof.

          “Post-Petition Interest” means any interest or entitlement to fees or expenses that accrues
after the commencement of any Insolvency Proceeding, whether or not allowed or allowable in any
such Insolvency Proceeding.

          “Second Lien Agreement” means (i) the Second Lien Agreement and (ii) any other credit
agreement, loan agreement, note agreement, promissory note, indenture, or other agreement or
instrument evidencing or governing the terms of any indebtedness or other financial accommodation
that has been incurred to extend, replace, refinance or refund in whole or in part the indebtedness
and other obligations outstanding under the Second Lien Agreement or other agreement or instrument
referred to in this clause (ii). Any reference to the Second Lien Agreement hereunder shall be
deemed a reference to any Second Lien Agreement then extant.

          “Second Lien Collateral” means all assets, whether now owned or hereafter acquired by the
Borrower or any other Credit Party, in which a Lien is granted or purported to be granted in

Intercreditor Agreement

4

 

favor of Second Lien Secured Parties, or in favor Collateral Agent for the benefit of Second
Lien Secured Parties, as security for any Second Lien Obligation.

          “Second Lien Documents” means each Second Lien Agreement and each Second Lien Security
Document.

          “Second Lien Obligations” means (i) all principal of and interest (including without
limitation any Post-Petition Interest) and premium (if any) on all indebtedness under the Second
Lien Agreement, (ii) Hedging Obligations of any Credit Party owed to a Second Lien Secured Party;
and (iii) all fees, expenses and other amounts payable from time to time pursuant to the Second
Lien Documents, in each case whether or not allowed or allowable against any Credit Party or their
estates in an Insolvency Proceeding. To the extent any payment with respect to any Second Lien
Obligation (whether by or on behalf of any Credit Party, as proceeds of security, enforcement of
any right of setoff or otherwise) is declared to be a fraudulent conveyance or a preference in any
respect, set aside or required to be paid to a debtor in possession, any First Lien Secured Party,
receiver or similar Person, then the obligation or part thereof originally intended to be satisfied
shall, for the purposes of this Agreement and the rights and obligations of the First Lien Secured
Parties and the Second Lien Secured Parties, be deemed to be reinstated and outstanding as if such
payment had not occurred.

          “Second Lien Secured Party” means the Second Lien Agent, the Second Lien Lenders (or their
affiliates), and any other holders of Second Lien Obligations, including replacement Second Lien
Lenders, and Collateral Agent, acting in its capacity as collateral agent for the benefit of Second
Lien Secured Parties under any Shared Security Document.

          “Second Lien Security Documents” means any documents that grant a Lien in favor of Second Lien
Secured Parties, or in favor of Collateral Agent, for the benefit of Second Lien Secured Parties,
to secure Second Lien Obligations.

          “Second Liens” means (i) the second and junior liens and security interests granted in the
Common Collateral in favor of the Second Lien Agent on behalf of the Second Lien Secured Parties,
as security for the payment and performance of the Second Lien Obligations and (ii) the second and
junior liens and security interests granted in the Common Collateral in favor of the Collateral
Agent on behalf of the Second Lien Secured Parties, as security for the payment and performance of
the Second Lien Obligations.

          “Secured Parties” means the First Lien Secured Parties and the Second Lien Secured Parties.

          “Shared Security Document” means any documents that grant a Lien in favor of Collateral Agent,
for the benefit of First Lien Secured Parties and Second Lien Secured Parties, to secure First Lien
Obligations and Second Lien Obligations.

          “Unasserted Contingent Obligations” shall mean, at any time, First Lien Obligations or Second
Lien Obligations for taxes, costs, indemnifications, reimbursements, damages and other liabilities
(excluding (i) the principal of, and interest and premium (if any) on, and fees and expenses
relating to, any First Lien Obligation or Second Lien Obligation, as the case may be, and (ii)
contingent reimbursement obligations in respect of amounts that may be drawn under

Intercreditor Agreement

5

 

outstanding letter of credit) in respect of which no assertion of liability (whether oral or
written) and no claim or demand for payment (whether oral or written) has been made (and, in the
case of First Lien Obligations for indemnification, no notice for indemnification has been issued
by the indemnitee) at such time.

          “Uniform Commercial Code” shall mean the Uniform Commercial Code as in effect from time to
time in the State of New York.

SECTION 2  Lien Priorities.

          2.1 Subordination of Second Liens.

          (a) Any and all Liens now existing or hereafter created or arising in favor of any Second Lien
Secured Party, or in favor of Collateral Agent for the benefit of Second Lien Secured Parties,
securing the Second Lien Obligations, regardless of how acquired, whether by grant, statute,
operation of law, subrogation or otherwise, are expressly junior in priority, operation and effect
to any and all Liens now existing or hereafter created or arising in favor of the First Lien
Secured Parties, or in favor of Collateral Agent for the benefit of First Lien Secured Parties,
securing the First Lien Obligations, notwithstanding (i) anything to the contrary contained in any
agreement or filing to which any Second Lien Secured Party may now or hereafter be a party, and
regardless of the time, order or method of grant, attachment, recording or perfection of any
financing statements or other Liens or any defect or deficiency or alleged defect or deficiency in
any of the foregoing, (ii) any provision of the UCC or any applicable law or any First Lien
Document or Second Lien Document or any other circumstance whatsoever and (iii) the fact that any
such Liens in favor of any First Lien Secured Party or in favor of the Collateral Agent for the
benefit of First Lien Secured Parties securing any of the First Lien Obligations are (x)
subordinated to any Lien securing any obligation of any Credit Party other than the Second Lien
Obligations or (y) otherwise subordinated, voided, avoided, invalidated or lapsed.

          (b) No First Lien Secured Party or Second Lien Secured Party shall object to or contest, or
support any other Person in contesting or objecting to, in any proceeding (including without
limitation, any Insolvency Proceeding), the validity, extent, perfection, priority or
enforceability of any security interest in the Common Collateral granted to the other or to the
Collateral Agent. Notwithstanding any failure by any First Lien Secured Party or Second Lien
Secured Party or by Collateral Agent on their behalf to perfect its security interests in the
Common Collateral or any avoidance, invalidation or subordination by any third party or court of
competent jurisdiction of the security interests in the Common Collateral granted to the First Lien
Secured Parties or the Second Lien Secured Parties, or to the Collateral Agent for their benefit,
the priority and rights as between the First Lien Secured Parties and the Second Lien Secured
Parties with respect to the Common Collateral and proceeds thereof shall be as set forth herein.

          2.2 Nature of First Lien Obligations. The Second Lien Agent on behalf of itself and
the other Second Lien Secured Parties acknowledges that all or a portion of the First Lien
Obligations are revolving in nature and that the amount thereof that may be outstanding at any time
or from time to time may be increased or reduced and subsequently reborrowed, and that

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6

 

subject to Section 6.2 the terms of the First Lien Obligations may be modified, extended or
amended from time to time, and that the aggregate amount of the First Lien Obligations may be
increased, replaced or refinanced, in each event, without notice to or consent by the Second Lien
Secured Parties and without affecting the provisions hereof. The Lien priorities provided in
Section 2.1 shall not be altered or otherwise affected by any such amendment, modification,
supplement, extension, repayment, reborrowing, increase, replacement, renewal, restatement or
refinancing of either the First Lien Obligations or the Second Lien Obligations, or any part
thereof.

          2.3 Agreements Regarding Actions to Perfect Liens.

          (a) The Second Lien Agent on behalf of itself and the other Second Lien Secured Parties agrees
that UCC-1 financing statements, patent, trademark or copyright filings or other filings or
recordings filed or recorded by or on behalf of the Second Lien Agent shall be in form satisfactory
to the First Lien Agent.

          (b) The Collateral Agent, First Lien Agent (on behalf of itself and the other First Lien
Secured Parties) and Second Lien Agent (on behalf of itself and the other Second Lien Secured
Parties) agree that all mortgages, deeds of trust, deeds and similar instruments (collectively,
“mortgages”) now or hereafter filed against real property in favor of Second Lien Agent or
Collateral Agent for the benefit of the Second Lien Secured Parties, including without limitation
all Shared Security Documents, shall be in form satisfactory to the First Lien Agent and shall
contain the following notation: “ALL LIENS GRANTED BY THIS INSTRUMENT SHALL, TO THE EXTENT SET
FORTH IN THE INTERCREDITOR AGREEMENT DATED JULY 11, 2008 BY AND AMONG QUEST CHEROKEE, LLC, ROYAL
BANK OF CANADA, AS FIRST LIEN AGENT, ROYAL BANK OF CANADA, AS SECOND LIEN AGENT AND PARTIES
THERETO, BE SUBORDINATE AND JUNIOR TO ALL LIENS GRANTED BY GRANTOR TO SECURE THE FIRST LIEN
OBLIGATIONS REGARDLESS OF THE RELATIVE PRIORITY OF SUCH LIENS, SUCH INTERCREDITOR AGREEMENT BEING
INCORPORATED HEREIN AND BY THIS REFERENCE BEING MADE A PART HEREOF.”

          (c) The Collateral Agent hereby acknowledges that, to the extent that it holds, or a third
party holds on its behalf, physical possession of or “control” (as defined in the Uniform
Commercial Code) over Common Collateral pursuant to the First Lien Security Documents, such
possession or control is also for the benefit of the Second Lien Agent and the other Second Lien
Secured Parties for purposes of perfecting their security interest in such Common Collateral.
Nothing in the preceding sentence shall be construed to impose any duty on the Collateral Agent (or
any third party acting on its behalf) with respect to such Common Collateral or provide the Second
Lien Agent or any other Second Lien Secured Party with any rights with respect to such Common
Collateral beyond those specified in this Agreement and the Second Lien Security Documents;
provided that subsequent to the occurrence of the First Lien Obligations Payment Date, the
Collateral Agent shall promptly deliver written notice of the occurrence of same to Second Lien
Agent and shall (x) deliver to the Second Lien Agent, at the Borrower’s sole cost and expense, the
Common Collateral in its possession or control together with any necessary endorsements to the
extent required by the Second Lien Documents, and shall deliver to Borrower written notice of such
action, or (y) direct and deliver such Common Collateral as a

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7

 

court of competent jurisdiction otherwise directs, and provided further that the
provisions of this Agreement are intended solely to govern the respective Lien priorities as
between the First Lien Secured Parties and the Second Lien Secured Parties, and shall not impose on
the Collateral Agent or the First Lien Secured Parties any obligations in respect of the
disposition of any Common Collateral (or any proceeds thereof) that would conflict with prior
perfected Liens or any claims thereon in favor of any other Person that is not a Secured Party.

          2.4 No New Second Liens. So long as the First Lien Obligations Payment Date has not
occurred, the parties hereto agree that no Second Lien Secured Party shall acquire or hold any Lien
on any assets of any Credit Party securing any Second Lien Obligation which assets are not also
subject to a First Lien in favor of the First Lien Secured Parties under the First Lien Documents
or under Shared Security Documents. If any Second Lien Secured Party shall (nonetheless and in
breach hereof) acquire or hold any Lien on any assets of any Credit Party securing any Second Lien
Obligation which assets are not also subject to a First Lien in favor of the First Lien Secured
Parties under the First Lien Documents, then the Second Lien Agent (or the relevant Second Lien
Secured Party) shall, and shall be deemed to have, without the need for any further consent of any
other Second Lien Secured Party and notwithstanding anything to the contrary in any other Second
Lien Document be deemed to hold and have held such Lien for the benefit of the First Lien Agent as
security for the First Lien Obligation and shall assign such Lien to the Collateral Agent or the
First Lien Agent (in which case the Second Lien Agent may retain a junior Second Lien on such
assets subject to the terms hereof).

          2.5 Similar Liens and Agreements. The parties hereto agree that it is their intention
that the First Lien Collateral and the Second Lien Collateral be identical. To the extent that,
notwithstanding this Section 2.5, the First Lien Collateral and Second Lien Collateral are not
identical, the Second Lien Agent, on behalf of Second Lien Secured Parties, agrees that any amounts
received by or distributed to any of them pursuant to or as a result of Liens on Second Lien
Collateral that is not First Lien Collateral, shall be subject to Section 4.1. In furtherance of
the foregoing, the parties hereto agree, subject to the other provisions of this Agreement:

          (a) upon reasonable request by the First Lien Agent or the Second Lien Agent, to cooperate in
good faith (and to direct their counsel to cooperate in good faith) from time to time in order to
determine the specific items included in the First Lien Collateral and the Second Lien Collateral
and the steps taken to perfect their respective Liens thereon and the identity of the respective
parties obligated under the First Lien Documents and the Second Lien Documents;

          (b) that the documents and agreements creating or evidencing the First Lien Collateral and the
Second Lien Collateral and guarantees for the First Lien Obligations and the Second Lien
Obligations shall be Shared Security Documents or otherwise in all material respects the same forms
of documents other than with respect to the First Lien and Second Lien nature of the obligations
and Common Collateral thereunder; and

          (c) that in the event either First Lien Agent shall obtain or record any First Lien Documents
in favor of First Lien Agent granting Liens on Common Collateral to secure First Lien Obligations,
or Second Lien Agent shall obtain or record any Second Lien Documents in favor of Second Lien Agent
granting Liens on Common Collateral to secure Second Lien Obligations, and such First Lien
Documents or Second Lien Documents are not Shared Security

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8

 

Documents, then First Lien Agent or Second Lien Agent, as the case may be, shall notify the
other of such documentation and provide a copy thereof.

SECTION 3   Enforcement Rights.

          3.1 Enforcement. Until the First Lien Obligations Payment Date has occurred, whether
or not a Insolvency Proceeding has been commenced by or against any Credit Party:

          (a) The Second Lien Agent and the Second Lien Secured Parties (and Collateral Agent, on behalf
of Second Lien Agent or Second Lien Secured Parties, under any Shared Security Document):

     (i) will not exercise or seek to exercise any rights or remedies (including setoff)
with respect to the Common Collateral (including, without limitation, the exercise of any
right under any lockbox agreement, account control agreement, landlord waiver or bailee’s
letter or similar agreement or arrangement to which the Second Lien Agent or any Second Lien
Secured Party is a party), or institute any action or proceeding with respect to such rights
or remedies (including any action of foreclosure); provided, however, that the Second Lien
Agent may exercise (and direct Collateral Agent to exercise, pursuant to any Shared Security
Document) any or all such rights and remedies of Second Lien Secured Parties under any
Second Lien Security Document after the passage of a period of 179 days from the date of
delivery of a notice in writing to the First Lien Agent that an Event of Default (as defined
in the Second Lien Agreement) has occurred under the Second Lien Documents and the Second
Lien Obligations have been accelerated (with respect to each individual Event of Default,
each a “Standstill Period”) which notice may only be delivered following the occurrence of
and during the continuation of an Event of Default (as defined in the Second Lien Agreement)
under the Second Lien Documents and the Second Lien Obligations have been accelerated;
provided, further, however, notwithstanding anything herein to the contrary, in no event
shall the Second Lien Agent or any Second Lien Secured Party exercise or continue to
exercise any rights or remedies with respect to the Common Collateral if, notwithstanding
the expiration of any outstanding Standstill Period, the First Lien Agent or First Lien
Lenders (or the Collateral Agent on their behalf) shall have commenced and are diligently
pursuing the exercise of any of their rights or remedies with respect the Common Collateral
(prompt notice of such exercise to be given to the Second Lien Agent),

     (ii) will not contest, protest or object to any foreclosure proceeding or action
brought by the Collateral Agent, the First Lien Agent or any First Lien Secured Party or any
other exercise by the Collateral Agent, the First Lien Agent or any First Lien Secured
Party, of any rights and remedies relating to the Common Collateral under the First Lien
Documents or otherwise, and

     (iii) subject to its rights under clause (a)(i) above, will not object to the
forbearance by the Collateral Agent, the First Lien Agent or the First Lien Secured Party
from bringing or pursuing any foreclosure proceeding or action or any other exercise of any
rights or remedies relating to the Common Collateral.

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          (b) Except as provided in Section 3.1(a)(i) hereof following the expiration of a Standstill
Period, the First Lien Secured Parties shall have the exclusive right (and under any Shared
Security Document shall have the exclusive right to instruct the Collateral Agent) to take and
continue any Enforcement Action with respect to the Common Collateral, without any consultation
with or consent of any Second Lien Secured Party, but subject to the proviso set forth in Section
5.1. Upon the occurrence and during the continuance of a default or an event of default under the
First Lien Documents, subject to the provisions of this Agreement, the First Lien Agent and the
other First Lien Secured Parties may (and under any Shared Security Document may instruct the
Collateral Agent on their behalf to) take and continue any Enforcement Action in such order and
manner as they may determine in their sole discretion.

          (c) Collateral Agent shall not be obligated to follow any instructions of Second Lien Secured
Parties if such instructions conflict with the provisions of this Agreement, any Shared Security
Document or any applicable law or Collateral Agent determines, in its sole and absolute discretion,
that such instructions are ambiguous, inconsistent, in conflict with previously received
instructions or otherwise insufficient to direct the actions of Collateral Agent, provided that
Collateral Agent explains the grounds for a refusal based on a deficiency of instructions. Nothing
in this Article II shall impair the right of Collateral Agent in its discretion to take any action
authorized under this Agreement or any Shared Security Document, to the extent that the consent of
any party hereto is not required or to the extent such action is not prohibited by the terms hereof
or thereof, which it deems proper and consistent with the instructions given by First Lien Secured
Parties as provided for herein or otherwise in the best interest of First Lien Secured Parties. In
the absence of written instructions for any particular matter, Collateral Agent shall have no duty
to take or refrain from taking any action unless such action or inaction is explicitly required by
the terms of this Agreement, the Shared Security Documents, or applicable law. Collateral Agent
shall have no duty with respect to the expiration of any Standstill Period unless it first receives
notice that such Standstill Period has expired. On and after the First Lien Obligations Payment
Date, and at any time prior thereto following the expiration of any applicable Standstill Period
pursuant to Section 3.1(a)(i) above, and subject to the first sentence of this Section 3.1(c) and
Section 10 hereof, Collateral Agent agrees that it shall follow instructions of Second Lien Secured
Parties with respect to the Common Collateral and Shared Security Documents.

          (d) Beyond its duties expressly provided herein or in the Shared Security Documents and its
duties to account to Secured Parties and/or the Credit Parties for monies and other property
received by it hereunder or under any Shared Security Document, Collateral Agent shall have no
implied duty to Secured Parties or any Credit Party as to any property belonging to any Credit
Party (whether or not the same constitutes Collateral) in its possession or control or in the
possession or control of any of its agents or nominees, or any income thereon or as to the
preservation of rights against prior parties or any other rights pertaining thereto.

          3.2 Standstill and Waivers. The Second Lien Agent, on behalf of itself and the other
Second Lien Secured Parties, agrees that, until the First Lien Obligations Payment Date has
occurred, subject to the proviso set forth in Section 5.1 and except as permitted by Section
3.1(a):

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          (a) they will not take or cause to be taken any action, the purpose or effect of which is to
make any Lien in respect of any Second Lien Obligation pari passu with or senior to, or to give any
Second Lien Secured Party any preference or priority relative to, the Liens with respect to the
First Lien Obligations or the First Lien Secured Parties with respect to any of the Common
Collateral;

          (b) they will not oppose, object to, interfere with, hinder or delay, in any manner, whether
by judicial proceedings (including without limitation the filing of an Insolvency Proceeding) or
otherwise, any foreclosure, sale, lease, exchange, transfer or other disposition of the Common
Collateral by the Collateral Agent, the First Lien Agent or any other First Lien Secured Party or
any other Enforcement Action taken by or on behalf of the Collateral Agent, the First Lien Agent or
any other First Lien Secured Party;

          (c) they have no right to (x) direct either the Collateral Agent, the First Lien Agent or any
other First Lien Secured Party to exercise any right, remedy or power with respect to the Common
Collateral or pursuant to the First Lien Security Documents or (y) consent or object to the
exercise by the Collateral Agent, the First Lien Agent or any other First Lien Secured Party of any
right, remedy or power with respect to the Common Collateral or pursuant to the First Lien Security
Documents or to the timing or manner in which any such right is exercised or not exercised (or, to
the extent they may have any such right described in this clause (c), whether as a junior Lien
creditor or otherwise, they hereby irrevocably waive such right), except to the extent such
exercise was in violation of this Agreement;

          (d) without waiving any rights to take action as unsecured creditors, they will not institute
any suit or other proceeding or assert in any suit, Insolvency Proceeding or other proceeding any
claim against either Collateral Agent, First Lien Agent or any other First Lien Secured Party
seeking damages from or other relief by way of specific performance, instructions or otherwise,
with respect to, and none of the Collateral Agent, First Lien Agent nor any other First Lien
Secured Party shall be liable for, any action taken or omitted to be taken by the Collateral Agent,
the First Lien Agent or any other First Lien Secured Party with respect to the Common Collateral or
pursuant to the First Lien Documents, so long as such actions or omissions were not taken in
violation of this Agreement;

          (e) without waiving any rights to take action as unsecured creditors, they will not make any
judicial or nonjudicial claim or demand or commence any judicial or non-judicial proceedings
against any Credit Party or any of its subsidiaries or affiliates under or with respect to any
Second Lien Security Document seeking payment or damages from or other relief by way of specific
performance, instructions or otherwise under or with respect to any Second Lien Security Document
(other than filing a proof of claim) or exercise any right, remedy or power under or with respect
to, or otherwise take any action to enforce, other than filing a proof of claim, any Second Lien
Security Document;

          (f) they will not commence judicial or nonjudicial foreclosure proceedings with respect to,
seek to have a trustee, receiver, liquidator or similar official appointed for or over, attempt any
action to take possession of, exercise any right, remedy or power with respect to, or otherwise
take any action to enforce their interest in or realize upon, the Common Collateral or pursuant to
the Second Lien Security Documents; or

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          (g) they will not seek, and hereby waive any right, to have the Common Collateral or any part
thereof marshaled upon any foreclosure or other disposition of the Common Collateral.

          3.3 Judgment Creditors. In the event that any Second Lien Secured Party becomes a
judgment Lien creditor in respect of Common Collateral as a result of its enforcement of its rights
as an unsecured creditor, such judgment Lien shall be subject to the terms of this Agreement for
all purposes (including in relation to the First Liens and the First Lien Obligations) to the same
extent as all other Liens, securing the Second Lien Obligations (created pursuant to the Second
Lien Security Documents) subject to this Agreement.

          3.4 Cooperation. The Second Lien Agent, on behalf of itself and the other Second Lien
Secured Parties, agrees that each of them shall take such actions as the Collateral Agent or the
First Lien Agent shall reasonably request in connection with the exercise by the Collateral Agent
or the First Lien Secured Parties of their rights set forth herein.

          3.5 No Additional Rights For the Borrower Hereunder. Except as provided in Section
3.6, if any First Lien Secured Party or Second Lien Secured Party shall enforce its rights or
remedies in violation of the terms of this Agreement, the Borrower shall not be entitled to use
such violation as a defense, to any action by any First Lien Secured Party or Second Lien Secured
Party, nor to assert such violation as a counterclaim or basis for set off or recoupment against
any First Lien Secured Party or Second Lien Secured Party.

          3.6 Actions Upon Breach.

          (a) If any Second Lien Secured Party, contrary to this Agreement, commences or participates in
any action or proceeding against the Borrower or the Common Collateral, the Borrower, with the
prior written consent of the First Lien Agent, may interpose as a defense or dilatory plea the
making of this Agreement, and any First Lien Secured Party may intervene and interpose such defense
or plea in its or their name or in the name of the Borrower, as applicable.

          (b) Should any Second Lien Secured Party, contrary to this Agreement, in any way take, attempt
to or threaten to take any action with respect to the Common Collateral (including, without
limitation, any attempt to realize upon or enforce any remedy with respect to this Agreement), or
fail to take any action required by this Agreement, any First Lien Secured Party (in its or their
own name or in the name of the Borrower, as applicable) or the Borrower, as applicable, may obtain
relief against such Second Lien Secured Party by injunction, specific performance and/or other
appropriate equitable relief, it being understood and agreed by the Second Lien Agent on behalf of
each Second Lien Secured Party that (i) the First Lien Secured Parties’ damages from its actions
may at that time be difficult to ascertain and may be irreparable, and (ii) each Second Lien
Secured Party waives any defense that the Borrower and/or the First Lien Secured Parties cannot
demonstrate damage and/or be made whole by the awarding of damages.

SECTION 4   Application Of Proceeds Of Common Collateral; Dispositions And Releases Of Common
Collateral; Inspection and Insurance.

          4.1 Application of Proceeds; Turnover Provisions. All proceeds of Common Collateral
(including without limitation any interest earned thereon) resulting from the sale,

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collection or other disposition of Common Collateral in connection with or resulting from any
Enforcement Action, and whether or not pursuant to an Insolvency Proceeding, shall be distributed
as follows: first to the First Lien Agent for application to the First Lien Obligations in
accordance with the terms of the First Lien Documents, until the First Lien Obligations Payment
Date has occurred, and thereafter, to the Second Lien Agent for application in accordance
with the Second Lien Documents. Until the occurrence of the First Lien Obligations Payment Date,
any Common Collateral, including without limitation any such Common Collateral constituting
proceeds, that may be received by any Second Lien Secured Party in violation of this Agreement
shall be segregated and held in trust and promptly paid over to the Collateral Agent or the First
Lien Agent, for the benefit of the First Lien Secured Parties, in the same form as received, with
any necessary endorsements, and each Second Lien Secured Party hereby authorizes the Collateral
Agent and the First Lien Agent to make any such endorsements as agent for the Second Lien Agent
(which authorization, being coupled with an interest, is irrevocable).

          4.2 Releases of Second Lien.

          (a) Upon any release, sale or disposition of Common Collateral permitted pursuant to the terms
of the First Lien Documents that results in the release of the First Lien on any Common Collateral
(including without limitation any sale or other disposition pursuant to any Enforcement Action),
the Second Lien on such Common Collateral (but not on any proceeds of such Common Collateral not
required to be paid to the First Lien Secured Parties) shall be automatically and unconditionally
released with no further consent or action of any Person; provided, however, that
the Second Lien shall not be released without the consent of the Second Lien Agent in the case of
an Enforcement Action, as to any Common Collateral the net proceeds of the disposition of which
will not be applied to repay (and, to the extent applicable, to reduce permanently commitments with
respect to) the First Lien Obligations.

          (b) The Second Lien Agent shall promptly execute and deliver such release documents and
instruments and shall take such further actions as the First Lien Agent shall reasonably request to
evidence any release of the Second Lien described in paragraph (a). The Second Lien Agent hereby
appoints the Collateral Agent and the First Lien Agent and any officer or duly authorized person of
the Collateral Agent or the First Lien Agent, with full power of substitution, as its true and
lawful attorney-in-fact with full irrevocable power of attorney in the place and stead of the
Second Lien Agent and in the name of the Second Lien Agent or in the Collateral Agent’s or the
First Lien Agent’s own name, from time to time, in the Collateral Agent’s or the First Lien Agent’s
sole discretion, for the purposes of carrying out the terms of this paragraph, to take any and all
appropriate action and to execute and deliver any and all documents and instruments as may be
necessary or desirable to accomplish the purpose of this paragraph, including, without limitation,
any financing statements, endorsements, assignments, releases or other documents or instruments of
transfer (which appointment, being coupled with an interest, is irrevocable).

          4.3 Inspection Rights and Insurance.

          (a) In connection with any Enforcement Action with respect to the First Lien Obligations, the
First Lien Security Documents and the other First Lien Documents, any First Lien Secured Party and
its representatives and invitees may at any time inspect, repossess,

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remove and otherwise deal with the Common Collateral, and the Collateral Agent or the First
Lien Agent may advertise and conduct public auctions or private sales of the Common Collateral, in
each case without notice to, the involvement of or interference by any Second Lien Secured Party or
liability to any Second Lien Secured Party.

          (b) In connection with any Enforcement Action with respect to the Second Lien Obligations, the
Second Lien Security Documents and the other Second Lien Documents, any Second Lien Secured Party
and its representatives and invitees may at any time inspect, repossess, remove and otherwise deal
with the Common Collateral, and the Collateral Agent or the Second Lien Agent may advertise and
conduct public auctions or private sales of the Common Collateral, in each case after notice to the
First Lien Agent.

          (c) Until the First Lien Obligations Payment Date has occurred, the Collateral Agent, for the
benefit of Secured Parties, will have the sole and exclusive right (i) to be named as additional
insured and loss payee under any insurance policies maintained from time to time by any Credit
Party; (ii) to adjust or settle any insurance policy or claim covering the Common Collateral in the
event of any loss thereunder and (iii) to approve any award granted in any condemnation or similar
proceeding affecting the Common Collateral.

SECTION 5   Insolvency Proceedings.

          5.1 Filing of Motions. Until the First Lien Obligations Payment Date has occurred,
the Second Lien Agent agrees on behalf of itself and the other Second Lien Secured Parties that no
Second Lien Secured Party shall, in or in connection with any Insolvency Proceeding, file any
pleadings or motions, take any position at any hearing or proceeding of any nature, or otherwise
take any action whatsoever, in each case in respect of any of the Common Collateral, including,
without limitation, with respect to the determination of any Liens or claims held by the Collateral
Agent, the First Lien Agent (including the validity and enforceability thereof) or any other First
Lien Secured Party or the value of any claims of such parties under Section 506(a) of the
Bankruptcy Code or otherwise; provided that, in accordance with and subject to the
limitations contained in this Agreement, and only if consistent with the terms and limitations on
Second Lien Agent and Second Lien Secured Parties imposed hereby:

     (a) in any Insolvency Proceeding, Second Lien Agent may file a claim or statement of
interest with respect to the Second Lien Obligations;

     (b) Second Lien Agent may take any action not adverse to Liens on Common Collateral
securing the First Lien Obligations or adverse to the rights of any First Lien Secured Party
with respect thereto, in order to preserve or protect Liens on Common Collateral securing the
Second Lien Obligations;

     (c) Second Lien Secured Parties may file any necessary responsive or defensive pleadings in
opposition to any motion, claim, adversary proceeding or other pleading made by any Person
objecting to or otherwise seeking the disallowance of claims of Second Lien Secured Parties,
including without limitation claims secured by Common Collateral, if any;

     (d) in any Insolvency Proceeding, Second Lien Secured Parties may file any pleadings,
objections, motions or agreements which assert rights or interests available to

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unsecured creditors of Credit Parties arising under the Bankruptcy Code or other
bankruptcy, insolvency, reorganization, receivership or similar law; and

     (e) Second Lien Agent or Second Lien Secured Parties may exercise any of their respective
rights and remedies with respect to Common Collateral after the expiration of any Standstill
Period.

          5.2 Financing Matters. If any Credit Party becomes subject to any Insolvency
Proceeding, and if the Collateral Agent, the First Lien Agent or the First Lien Secured Parties
desire to consent (or not object) to the sale, use or lease of cash or other collateral under the
Bankruptcy Code or to provide financing to any Credit Party under the Bankruptcy Code or to consent
(or not object) to the provision of such financing to any Credit Party by any third party (“DIP
Financing”), then the Second Lien Agent agrees, on behalf of itself and the other Second Lien
Secured Parties, that each Second Lien Secured Party (i) will be deemed to have consented to, will
raise no objection to, nor support any other Person objecting to, the sale, use or lease of such
cash or other collateral or to such DIP Financing, (ii) will not request or accept any form of
adequate protection or any other relief in connection with the sale, use or lease of such cash or
other collateral or such DIP Financing except as set forth in paragraph 5.4 below, (iii) will
subordinate (and will be deemed hereunder to have subordinated) the Second Liens (x) to such DIP
Financing with the same terms and conditions as the First Liens are subordinated thereto (and such
subordination will not alter in any manner the terms of this Agreement), (y) to any adequate
protection provided to the First Lien Secured Parties and (z) to any “carve-out” for professional
and United States Trustee fees agreed to by the Collateral Agent, the First Lien Agent or the First
Lien Secured Parties, and (iv) agrees that notice received three (3) business days prior to the
entry of an order approving such usage of cash collateral or approving such financing shall be
adequate notice.

          5.3 Relief From the Automatic Stay. The Second Lien Agent agrees, on behalf of itself
and the other Second Lien Secured Parties, that none of them will seek relief from the automatic
stay or from any other stay in any Insolvency Proceeding or take any action in derogation thereof,
in each case in respect of any Common Collateral, without the prior written consent of the First
Lien Agent.

          5.4 Adequate Protection. The Second Lien Agent, on behalf of itself and the other
Second Lien Secured Parties, agrees that none of them shall object, contest, or support any other
Person objecting to or contesting, (i) any request by the Collateral Agent, the First Lien Agent or
the First Lien Secured Parties for adequate protection or (ii) any objection by the Collateral
Agent, the First Lien Agent or any other First Lien Secured Parties to any motion, relief, action
or proceeding based on a claim of a lack of adequate protection or (iii) the payment of interest,
fees, expenses or other amounts to the Collateral Agent or the First Lien Agent or any other First
Lien Secured Party under section 506(b) or 506(c) of the Bankruptcy Code or otherwise.
Notwithstanding anything contained in this Section and in Section 5.2, in any Insolvency
Proceeding, (x) the Second Lien Agent and the Second Lien Secured Parties, may seek, support,
accept or retain adequate protection (A) only if the First Lien Secured Parties are granted
adequate protection that includes replacement Liens on additional collateral and superpriority
claims and the First Lien Secured Parties do not object to the adequate protection being
provided to the First Lien Secured Parties and (B) solely in the form of (a) a replacement Lien on
such

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additional collateral, subordinated to the Liens securing the First Lien Obligations and such
DIP Financing on the same basis as the other Liens securing the Second Lien Obligations are so
subordinated to the First Lien Obligations under this Agreement and (b) superpriority claims junior
in all respects to the superpriority claims granted to the First Lien Secured Parties, and (y) in
the event the Second Lien Agent, on behalf of itself and the Second Lien Secured Parties, receives
adequate protection, including in the form of additional collateral, then the Second Lien Agent, on
behalf of itself or any of the Second Lien Secured Parties, agrees that the First Lien Secured
Parties shall have a senior Lien and claim on such adequate protection as security for the First
Lien Obligations and that any Lien on any additional collateral securing the Second Lien
Obligations shall be subordinated to the Liens on such collateral securing the First Lien
Obligations and any DIP Financing and any other Liens granted to the First Lien Secured Parties as
adequate protection, with such subordination to be on the same terms that the other Liens securing
the Second Lien Obligations are subordinated to the Liens securing such First Lien Obligations
under this Agreement.

          5.5 Avoidance Issues. If any First Lien Secured Party is required in any Insolvency
Proceeding or otherwise to disgorge, turn over or otherwise pay to the estate of any Credit Party,
because such amount was avoided or ordered to be paid or disgorged for any reason, including
without limitation because it was found to be a fraudulent or preferential transfer, any amount (a
“Recovery”), whether received as proceeds of security, enforcement of any right of set-off or
otherwise, then the First Lien Obligations shall be reinstated to the extent of such Recovery and
deemed to be outstanding as if such payment had not occurred and the First Lien Obligations Payment
Date shall be deemed not to have occurred. If this Agreement shall have been terminated prior to
such Recovery, this Agreement shall be reinstated in full force and effect, and such prior
termination shall not diminish, release, discharge, impair or otherwise affect the obligations of
the parties hereto until such time as the First Lien Obligations Payment Date shall have fully and
finally occurred with respect to all such reinstated First Lien Obligations. The Second Lien
Secured Parties agree that none of them shall be entitled to benefit from any avoidance action
affecting or otherwise relating to any distribution or allocation made in accordance with this
Agreement, whether by preference or otherwise, it being understood and agreed that the benefit of
such avoidance action otherwise allocable to them shall instead be allocated and turned over for
application in accordance with the priorities set forth in this Agreement.

          5.6 Asset Dispositions in an Insolvency Proceeding. Neither the Second Lien Agent nor
any other Second Lien Secured Party shall, in an Insolvency Proceeding or otherwise, oppose any
sale or disposition of any assets of any Credit Party that is supported by the First Lien Secured
Parties, and the Second Lien Agent and each other Second Lien Secured Party will be deemed to have
consented under Section 363 of the Bankruptcy Code (and otherwise) to any sale supported by the
First Lien Secured Parties and to have released their Liens in such assets.

          5.7 Grants of Security and Separate Classification. Each Second Lien Secured Party
acknowledges and agrees that (i) the grants of Liens under any Shared Security Documents constitute
Liens in favor of the Collateral Agent for the benefit of both the First Lien Secured Parties and
the Second Lien Secured Parties, (ii) any grants of Liens pursuant to separate First Lien Security
Documents and Second Lien Security Documents constitute two separate and distinct grants of Liens,
and (iii) because of, among other things, their differing rights in the

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Common Collateral, the Second Lien Obligations are fundamentally different from the First Lien
Obligations and must be separately classified in any plan of reorganization proposed or adopted in
an Insolvency Proceeding. To further effectuate the intent of the parties as provided in the
immediately preceding sentence, if it is held that the claims of the First Lien Secured Parties and
Second Lien Secured Parties in respect of the Common Collateral constitute only one secured claim
(rather than separate classes of senior and junior secured claims), then the Second Lien Secured
Parties hereby acknowledge and agree that all distributions shall be made as if there were separate
classes of senior and junior secured claims against the Credit Parties in respect of the Common
Collateral, with the effect being that, to the extent that the aggregate value of the Common
Collateral is sufficient (for this purpose ignoring all claims held by the Second Lien Secured
Parties), the First Lien Secured Parties shall be entitled to receive, in addition to amounts
distributed to them in respect of principal, pre-petition interest and other claim, all amounts
owing in respect of Post-Petition Interest before any distribution is made in respect of the claims
held by the Second Lien Secured Parties, with the Second Lien Secured Parties hereby acknowledging
and agreeing to turn over to the First Lien Secured Parties amounts otherwise received or
receivable by them to the extent necessary to effectuate the intent of this sentence, even if such
turnover has the effect of reducing the claim or recovery of the Second Lien Secured Parties.

          5.8 No Waivers of Rights of First Lien Secured Parties. Nothing contained herein
shall prohibit or in any way limit the Collateral Agent, the First Lien Agent or any other First
Lien Secured Party from objecting in any Insolvency Proceeding or otherwise to any action taken by
any Second Lien Secured Party, including the seeking by any Second Lien Secured Party of adequate
protection or the asserting by any Second Lien Secured Party of any of its rights and remedies
under the Second Lien Documents or otherwise, except with respect to such actions expressly
permitted hereby.

          5.9 Plans of Reorganization. No Second Lien Secured Party shall support or vote in
favor of any plan of reorganization (and each shall be deemed to have voted to reject any plan of
reorganization) unless such plan (i) pays off, in cash in full, all First Lien Obligations or (ii)
is accepted by the class of holders of First Lien Obligations voting thereon and is supported by
the First Lien Agent.

          5.10 Other Matters. To the extent that the Second Lien Agent or any Second Lien
Secured Party has or acquires rights under Section 363 or Section 364 of the Bankruptcy Code with
respect to any of the Common Collateral, the Second Lien Agent agrees, on behalf of itself and the
other Second Lien Secured Parties not to assert any of such rights without the prior written
consent of the First Lien Agent; provided that if requested by the First Lien Agent, the Second
Lien Agent shall timely exercise such rights in the manner requested by the First Lien Agent,
including any rights to payments in respect of such rights.

          5.11 Effectiveness in Insolvency Proceedings. This Agreement, which the parties
hereto expressly acknowledge is a “subordination agreement” under section 510(a) of the Bankruptcy
Code, shall be effective before, during and after the commencement of Insolvency Proceeding. All
references in this Agreement to any Credit Party shall include such Credit Party as a
debtor-in-possession and any receiver or trustee for such Credit Party in any Insolvency
Proceeding.

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SECTION 6   Second Lien Documents and First Lien Documents.

          6.1 Restriction on Second Lien Document Amendments. Each Credit Party and the Second
Lien Agent, on behalf of itself and the Second Lien Secured Parties, agrees that it shall not at
any time execute or deliver any amendment or other modification to any of the Second Lien Documents
inconsistent with or in violation of this Agreement.

          6.2 Restriction on First Lien Document Amendment. Each Credit Party and the First
Lien Agent, on behalf of itself and the First Lien Secured Parties, agrees that it shall not at any
time execute or deliver any amendment or other modification to any of the First Lien Documents
inconsistent with or in violation of this Agreement.

          6.3 Application of First Lien Security Document Amendments to Second Lien Security
Documents. In the event the First Lien Agent enters into any amendment, waiver or consent in
respect of any of the First Lien Security Documents for the purpose of adding to, or deleting from,
or waiving or consenting to any departures from any provisions of, any First Lien Security Document
or changing in any manner the rights of any parties thereunder, then such amendment, waiver or
consent shall apply automatically to any comparable provision of the Comparable Second Lien
Security Document without the consent of or action by any Second Lien Secured Party (with all such
amendments, waivers and modifications subject to the terms hereof); provided that (other
than with respect to amendments, modifications or waivers that secure additional extensions of
credit and add additional secured creditors and do not violate the express provisions of the Second
Lien Agreements), (A) no such amendment, waiver or consent shall have the effect of removing assets
subject to the Lien of any Second Lien Security Document, except to the extent that a release of
such Lien is permitted by Section 4.2, (B) any such amendment, waiver or consent that materially
and adversely affects the rights of the Second Lien Secured Parties and does not affect the First
Lien Secured Parties in a like or similar manner shall not apply to the Second Lien Security
Documents without the consent of the Second Lien Agent and (C) notice of such amendment, waiver or
consent shall be given to the Second Lien Agent no later than 30 days after its effectiveness,
provided that the failure to give such notice shall not affect the effectiveness and validity
thereof.

          6.4 Restriction on Second Lien Agreement Amendments. Unless a similar amendment,
supplement or modification to the applicable First Lien Agreement(s) has been, or is concurrently
being, made, without the prior written consent of the First Lien Agent, no Second Lien Agreement
may be amended, supplemented or otherwise modified or entered into to the extent such amendment,
supplement or modification, or the terms of any new Second Lien Agreement, would (i) contravene the
provisions of this Agreement; (ii) increase the interest rate on the loans thereunder by an amount
more than the amount of any increase on the interest rate on the loans under the First Lien
Documents other than imposition of a default rate of interest, provided the per annum rate increase
shall not exceed the default rate per annum rate increase under the Existing First Lien Agreement;
(iii) change (to earlier dates) any dates upon which payments of principal or interest are due
thereon; (iv) change the redemption, prepayment or defeasance provisions thereof; (v) add
Collateral (unless such Collateral is also provided to the Collateral Agent on behalf of Secured
Parties or the First Lien Agent), or (vi) increase the obligations thereunder of the Borrower or
confer any additional rights on the Second Lien Secured Parties which would be adverse to the First
Lien Secured Parties.

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          6.5 Authorization of Actions to be Taken by Collateral Agent under the Shared Security
Documents. Subject to the provisions of the applicable Shared Security Document and this
Agreement, (a) Collateral Agent may, in its sole discretion and without the consent of Secured
Parties, take all actions it deems necessary or appropriate in order to (i) enforce any of the
terms of the Shared Security Documents and (ii) collect and receive any and all amounts payable in
respect of the First Lien Obligations or Second Lien Obligations and (b) Collateral Agent shall
have power to institute and to maintain such suits and proceedings as it may deem expedient to
prevent any impairment of the Common Collateral by any act that may be unlawful or in violation of
the Shared Security Documents or the First Lien Documents, and such suits and proceedings as
Collateral Agent may deem expedient to preserve or protect its interests and the interests of
Secured Parties in the Common Collateral (including the power to institute and maintain suits or
proceedings to restrain the enforcement of or compliance with any legislative or other governmental
enactment, rule or order that may be unconstitutional or otherwise invalid if the enforcement of,
or compliance with, such enactment, rule or order would impair the security interest thereunder or
be prejudicial to the interests of Secured Parties). Notwithstanding the above, Collateral Agent
may choose not to take any action authorized by this Section 6.5 until it receives written
direction from Secured Parties.

          6.6 Authorization of Receipt of Funds by Collateral Agent under Shared Security
Documents. Collateral Agent is authorized to receive any funds for the benefit of Secured
Parties distributed under the Shared Security Documents, and to make further distributions of such
funds to Secured Parties in accordance with the provisions of this Agreement.

SECTION 7   Reliance; Waivers; etc.

          7.1 Reliance. The First Lien Documents are deemed to have been executed and
delivered, and all extensions of credit thereunder are deemed to have been made or incurred, in
reliance upon this Agreement. The Second Lien Agent, on behalf of it itself and the Second Lien
Secured Parties, expressly waives all notice of the acceptance of and reliance on this Agreement by
the First Lien Secured Parties. The Second Lien Documents are deemed to have been executed and
delivered and all extensions of credit thereunder are deemed to have been made or incurred, in
reliance upon this Agreement. The First Lien Agent expressly waives all notices of the acceptance
of and reliance by the Second Lien Agent and the Second Lien Secured Parties.

          7.2 No Warranties or Liability. The Second Lien Agent and the First Lien Agent
acknowledge and agree that neither has made any representation or warranty with respect to the
execution, validity, legality, completeness, collectibility or enforceability of any other First
Lien Document or any Second Lien Document, nor has the Collateral Agent made any such
representations or warranties with respect to the Shared Security Documents. Except as otherwise
provided in this Agreement, the Second Lien Secured Parties and the First Lien Secured Parties will
be entitled to manage and supervise their respective extensions of credit to any Credit Party in
accordance with law and their usual practices, modified from time to time as they deem appropriate.

          7.3 No Waivers. No right or benefit of any party hereunder shall at any time in any
way be prejudiced or impaired by any act or failure to act on the part of such party or any other

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party hereto or by any noncompliance by any Credit Party with the terms and conditions of any
of the First Lien Documents or the Second Lien Documents.

SECTION 8   Obligations Unconditional.

          8.1 First Lien Obligations Unconditional. All rights of the Collateral Agent (on
behalf of the First Lien Secured Parties) and the First Lien Agent hereunder, and all agreements
and obligations of the Collateral Agent (on behalf of the Second Lien Secured Parties) and the
Second Lien Agent, the Borrower and the other Credit Parties (to the extent applicable) hereunder,
shall remain in full force and effect irrespective of:

          (a) any lack of validity or enforceability of any First Lien Document;

          (b) any change in the time, place or manner of payment of, or in any other term of, all or any
portion of the First Lien Obligations, or any amendment, waiver or other modification, whether by
course of conduct or otherwise, or any refinancing, replacement, refunding or restatement of any
First Lien Document;

          (c) prior to the First Lien Obligations Payment Date, any exchange, release, voiding,
avoidance or non-perfection of any security interest in any Common Collateral or any other
collateral, or any release, amendment, waiver or other modification, whether by course of conduct
or otherwise, or any refinancing, replacement, refunding or restatement of all or any portion of
the First Lien Obligations or any guarantee or guaranty thereof; or

          (d) any other circumstances that otherwise might constitute a defense available to, or a
discharge of, any Credit Party in respect of the First Lien Obligations, or of any of the Second
Lien Agent, or any Credit Party, to the extent applicable, in respect of this Agreement.

          8.2 Second Lien Obligations Unconditional. All rights and interests of the Collateral
Agent (on behalf of the Second Lien Secured Parties) and Second Lien Agent under this Agreement,
and all agreements and obligations of the Collateral Agent (on behalf of the First Lien Secured
Parties), the First Lien Agent, the Borrower and the other Credit Parties (to the extent
applicable), hereunder, shall remain in full force and effect irrespective of:

          (a) any lack of validity or enforceability of any Second Lien Document;

          (b) any change in the time, place or manner of payment of, or in any other term, of, all or
any portion of the Second Lien Obligations, or any amendment, waiver or other modification, whether
by course of conduct or otherwise, or any refinancing, replacement, refunding or restatement of any
Second Lien Document;

          (c) any exchange, release, voiding, avoidance or non-perfection of any security interest in
any Common Collateral, or any release, amendment, waiver or other modification, whether by course
of conduct or otherwise, or any refinancing, replacement, refunding or restatement of all or any
portion of the Second Lien Obligations or any guarantee or guaranty thereof; or

     Intercreditor Agreement

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          (d) any other circumstances that otherwise might constitute a defense available to, or a
discharge of, any Credit Party in respect of the Second Lien, Obligations, or of any of the First
Lien Agent or other Credit Party, to the extent applicable, in respect of this Agreement.

SECTION 9   Miscellaneous.

          9.1 Conflicts. In the event of any conflict between the provisions of this Agreement
and the provisions of any First Lien Document or any Second Lien Document, the provisions of this
Agreement shall govern.

          9.2 Continuing Nature of Provisions. This Agreement shall continue to be effective,
and shall not be revocable by any party hereto, until the First Lien Obligation Payment Date shall
have occurred. This is a continuing agreement and the First Lien Secured Parties and the Second
Lien Secured Parties may continue, at any time and without notice to the other parties hereto, to
extend credit and other financial accommodations, lend monies and provide indebtedness to, or for
the benefit of, the Borrower or any other Credit Party on the faith hereof.

          9.3 Amendments; Waivers. No amendment or modification of any of the provisions of
this Agreement shall be effective unless the same shall be in writing and signed by the First Lien
Agent and the Second Lien Agent, and, in the case of amendments or modifications of Sections 3.5,
3.6, 9.5 or 9.6 that directly affect the rights or duties of any Credit Party, such Credit Party.

          9.4 Information Concerning Financial Condition of the Borrower and the other Credit
Parties. Each of the Second Lien Agent and the First Lien Agent hereby assume responsibility
for keeping itself informed of the financial condition of the Borrower and each of the other Credit
Parties and all other circumstances bearing upon the risk of nonpayment of the First Lien
Obligations or the Second Lien Obligations. The Second Lien Agent and the First Lien Agent hereby
agree that no party shall have any duty to advise any other party of information known to it
regarding such condition or any such circumstances. In the event the Second Lien Agent or the
First Lien Agent, in its sole discretion, undertakes at any time or from time to time to provide
any information to any other party to this Agreement, it shall be under no obligation (A) to
provide any such information to such other party or any other party on any subsequent occasion, (B)
to undertake any investigation not a part of its regular business routine, or (C) to disclose any
other information.

          9.5 Governing Law. This Agreement shall be construed in accordance with and governed
by the law of the State of New York, except as otherwise required by mandatory provisions of law
and except to the extent that remedies provided by the laws of any jurisdiction other than the
State of New York are governed by the laws of such jurisdiction.

          9.6 Submission to Jurisdiction; Waivers.

          (a) Each party hereto hereby irrevocably and unconditionally submits, for itself and its
property, to the non-exclusive jurisdiction of any United States Federal Court sitting in the State
of New York or New York state court, and any appellate court from any thereof, in any action or
proceeding arising out of or relating to this Agreement, or for recognition or enforcement of any
judgment, and each of the parties hereto hereby irrevocably and

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unconditionally agrees that all claims in respect of any such action or proceeding may be
heard and determined in any such United States Federal Court or New York state court. Each of the
parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive
and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided
by law. Nothing in this Agreement shall affect any right that any First Lien Secured Party may
otherwise have to bring any action or proceeding relating to this Agreement or any First Lien
Documents against the Borrower or any other Credit Party or its properties in the courts with
subject matter jurisdiction of any other jurisdiction.

          (b) The Borrower, each other Credit Party and the Second Lien Secured Parties hereby
irrevocably and unconditionally waive, to the fullest extent they may legally and effectively do so
(x) any objection they may now or hereafter have to the laying of venue of any suit, action or
proceeding arising out of or relating to this Agreement in any court referred to in paragraph (a)
of this Section and (y) the defense of an inconvenient forum to the maintenance of such action or
proceeding.

          (c) Each party to this Agreement irrevocably consents to service of process in the manner
provided for notices in Section 9.7. Nothing in this Agreement will affect the right of any party
to this Agreement to serve process in any other manner permitted by law.

          (d) Each party hereto knowingly, voluntarily and intentionally waives any right any of them
may have to a trial by jury in any litigation based upon or arising out of this Agreement or any
related instrument or agreement or any of the transactions contemplated by this Agreement or any
course of conduct, dealing, statements (whether oral or written) or action of any of them. None of
the parties hereto shall seek, and to the maximum extent permitted by law waives any claim for, any
special, exemplary, punitive or consequential damages or damages other than, or in addition to,
actual damages. None of the parties hereto shall seek to consolidate, by counterclaim or
otherwise, any such action in which a jury trial has been waived with any other action in which a
jury trial cannot be or has not been waived. These provisions shall not be deemed to have been
modified in any respect or relinquished by any of the parties hereto except by a written instrument
executed by all of them.

          9.7 Notices. Unless otherwise specifically provided herein, any notice or other
communication herein required or permitted to be given shall be in writing and may be personally
served, telecopied, or sent by overnight express courier service or United States mail and shall be
deemed to have been given when delivered in person or by courier service, upon receipt of a
telecopy or five (5) days after deposit in the United States mail (certified, with postage prepaid
and properly addressed). For the purposes hereof, the addresses of the parties hereto (until
notice of a change thereof is delivered as provided in this Section) shall be as set forth below
each party’s name on the signature pages hereof, or, as to each party, at such other address as may
be designated by such party in a written notice to all of the other parties.

          9.8 Successors and Assigns. This Agreement shall be binding upon and inure to the
benefit of each of the parties hereto and each of the First Lien Secured Parties and Second Lien
Secured Parties and their respective successors and assigns, and nothing herein is intended, or
shall be construed to give, any other Person any right, remedy or claim under, to or in respect of
this Agreement or any Common Collateral. All references to any Credit Party shall include any

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Credit Party as debtor-in-possession and any receiver or trustee for such Credit Party in any
Insolvency Proceeding.

          9.9 Further Assurances. The Collateral Agent, the First Lien Agent, on behalf of
itself and the First Lien Secured Parties under its First Lien Documents, and the Second Lien
Agent, on behalf of itself and the Second Lien Secured Parties under its Second Lien Documents, and
the Borrower, on behalf of the Credit Parties, agree that it shall take such further action and
shall execute and deliver such additional documents and instruments (in recordable form, if
requested) as the Collateral Agent, the First Lien Agent or the Second Lien Agent may reasonably
request to effectuate the terms of and the Lien priorities contemplated by this Agreement.

          9.10 Subrogation. The Second Lien Agent, on behalf of itself and the Second Lien
Secured Parties, hereby waives any rights of subrogation it may acquire as a result of any payment
hereunder until the First Lien Obligations Payment Date has occurred.

          9.11 Application of Payments. All payments received by the First Lien Agent or the
First Lien Secured Parties may be applied, reversed and reapplied, in whole or in part, to such
part of the First Lien Obligations provided for in the First Lien Documents. The Second Lien
Agent, on behalf of itself and the Second Lien Secured Parties, assents to any extension or
postponement of the time of payment of the First Lien Obligations or any part thereof and to any
other indulgence with respect thereto, to any substitution, exchange or release of any security
which may at any time secure any part of the First Lien Obligations and to the addition or release
of any other Person primarily or secondarily liable therefore, in each case to the extent
undertaken in accordance with this Agreement.

          9.12 Specific Performance. Each of the Collateral Agent, the First Lien Agent and the
Second Lien Agent may demand specific performance of this Agreement. The Collateral Agent, on
behalf of the Secured Parties, the First Lien Agent, on behalf of itself and the First Lien Secured
Parties under its First Lien Documents, and the Second Lien Agent, on behalf of itself and the
Second Lien Secured Parties, hereby irrevocably waives any defense based on the adequacy of a
remedy at law and any other defense which might be asserted to bar the remedy of specific
performance in any action which may be brought by the Collateral Agent, First Lien Agent or the
Second Lien Agent, as the case may be.

          9.13 Headings. Section headings used herein are for convenience of reference only,
are not part of this Agreement and shall not affect the construction of, or be taken into
consideration in interpreting this Agreement.

          9.14 Severability. Any provision of this Agreement held to be invalid, illegal or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
such invalidity, illegality or unenforceability without affecting the validity, legality and
enforceability of the remaining provisions hereof; and the invalidity of a particular provision in
a particular jurisdiction shall not invalidate such provision in any other jurisdiction.

          9.15 Counterparts; Integration; Effectiveness. This Agreement may be executed in
counterpart (and by different parties hereto on different counterparts), each of which shall

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constitute an original, but all of which when taken together shall constitute a single
contract. Delivery of an executed counterpart of a signature page of this Agreement by telecopy or
electronic mail shall be effective as delivery of a manually executed counterpart of this
Agreement. This Agreement shall become effective when it shall have been executed by each party
hereto.

SECTION 10   Collateral Agent.

          10.1 Appointment of Collateral Agent. First Lien Agent, on behalf of First Lien
Secured Parties, and Second Lien Agent, on behalf of Second Lien Secured Parties, hereby designate
Royal Bank of Canada to act as Collateral Agent under the Shared Security Documents, and hereby
empower the Collateral Agent to take actions with respect to the enforcement of any Liens granted
thereunder and the collection of proceeds following the disposition of any Common Collateral.
First Lien Agent, on behalf of First Lien Secured Parties, and Second Lien Agent, on behalf of
Second Lien Secured Parties, hereby authorize Collateral Agent to take such action on its behalf
under the provisions of this Agreement and the Shared Security Documents and to exercise such
powers and to perform such duties hereunder and thereunder as are specifically delegated to it
hereunder or thereunder or required of Collateral Agent by the terms hereof or thereof and such
other powers as are reasonably incidental thereto. Collateral Agent may perform any of its duties
hereunder by or through its agents or employees. Subject to the terms and conditions contained in
this Section 10, Collateral Agent agrees to act as Collateral Agent pursuant to the terms set forth
in this Agreement.

          10.2 Nature of Duties of Collateral Agent. Collateral Agent shall have no duties or
responsibilities, except those expressly set forth in this Agreement or any Shared Security
Document. Collateral Agent shall have and may exercise such powers hereunder and under the Shared
Security Documents as are specifically delegated to Collateral Agent by the terms hereof, together
with such powers as are reasonably incidental thereto. Neither Collateral Agent nor any of its
directors, officers, employees or agents shall be liable to any Secured Party for any action taken
or omitted by it as such hereunder or under any Shared Security Document, unless caused solely by
its or their gross negligence or willful misconduct. The duties of Collateral Agent shall be
mechanical and administrative in nature; and Collateral Agent, in its capacity as such, shall not
have by reason of this Agreement a fiduciary relationship in respect of any Secured Party. Nothing
in this Agreement, expressed or implied, is intended to or shall be so construed as to impose upon
Collateral Agent any obligations in respect of this Agreement and the Shared Security Documents
except as expressly set forth herein.

          10.3 Lack of Reliance on Collateral Agent.

          (a) Independently and without reliance upon Collateral Agent or any other Secured Party, First
Lien Agent, on behalf of First Lien Secured Parties, and Second Lien Agent, on behalf of Second
Lien Secured Parties, represents to Collateral Agent and each other that each Secured Party has
made (i) its own independent investigation of the financial condition and affairs of the Credit
Parties based on such documents and information as it has deemed appropriate in connection with the taking or not taking of any action in connection herewith, and
(ii) its own appraisal of the credit worthiness of the Credit Parties. Each also acknowledges that
it will, independently and without reliance upon Collateral Agent or any other Person and based

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 on
such documents and information as it shall deem appropriate at the time, continue to make its own
credit decisions in taking or not taking action under this Agreement, the First Lien Obligations or
Second Lien Obligations, as the case may be, or the Shared Security Documents. Except as expressly
provided in this Agreement and the Shared Security Documents, Collateral Agent shall have no duty
or responsibility, either initially or on a continuing basis, to provide any Secured Party with any
credit or other information concerning the affairs, financial condition or business of the Credit
Parties which may come into the possession of Collateral Agent or any of its affiliates whether now
in its possession or in its possession at any time or times hereafter; and Collateral Agent shall
not be required to keep itself informed as to the performance or observance by any Credit Party of
this Agreement, any Shared Security Document or any other document referred to or provided for
herein or to inspect the properties or books of any Credit Party.

          (b) Collateral Agent shall not (i) be responsible to any Secured Party for any recitals,
statements, information, representations or warranties herein, in any Shared Security Document, or
in any document, certificate or other writing delivered in connection herewith or therewith or for
the execution, effectiveness, genuineness, validity, enforceability, collectability, priority or
sufficiency of this Agreement, the First Lien Obligations, the Second Lien Obligations or any
Shared Security Document or the financial condition of the Credit Parties; or (ii) be required to
make any inquiry concerning the performance or observance by others of any of the terms, provisions
or conditions of this Agreement, including the content of notices, opinions, certificates and
directions given under this Agreement (however, Collateral Agent shall examine such certificates,
notices, opinions and directions to determine whether or not they conform to this Agreement and the
Shared Security Documents), the First Lien Obligations, the Second Lien Obligations or the Shared
Security Documents, the financial condition of the Credit Parties, or the existence or possible
existence of any “Default” or “Event of Default” under the First Lien Documents or the Second Lien
Documents.

          10.4 Certain Rights of Collateral Agent. If Collateral Agent shall request
instructions from Secured Parties with respect to any act or action (including the failure to act)
in connection with this Agreement, the First Lien Obligations, the Second Lien Obligations or any
Shared Security Document, Collateral Agent shall be entitled to refrain from such act or taking
such action unless and until Collateral Agent shall have received written instructions from any
Secured Party or group of Secured Parties pursuant to the terms hereof; and Collateral Agent shall
not incur liability to any Person by reason of so refraining. Without limiting the foregoing, no
Secured Party shall have any right of action whatsoever against Collateral Agent as a result of
Collateral Agent acting or refraining from acting under this Agreement or any Shared Security
Document in accordance with any written instructions given in accordance with this Agreement, and
any such action taken in compliance with, or any such failure to act based upon, any such
instructions shall be binding on all Secured Parties. Except for action expressly required of
Collateral Agent pursuant to the terms hereof, Collateral Agent shall be fully justified in failing
or refusing to take any action hereunder or under the Shared Security Documents unless it shall
first be indemnified to its satisfaction by the Credit Parties and/or Secured Parties against any
and all liability and expense
which may be incurred by Collateral Agent by reason of taking or continuing to take any such
action. Notwithstanding any other provision of this Section 10 or any indemnity or instructions
provided by any or all Secured Parties, Collateral Agent shall not

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be required to take any action
which exposes Collateral Agent to personal liability or which is contrary to this Agreement, the
Shared Security Documents or applicable law.

          10.5 Reliance by Collateral Agent. Collateral Agent shall be entitled to rely, and
shall be fully protected in relying, upon any writing, resolution, notice, statement, certificate
or telecopier message, cablegram, radiogram, order or other documentary, teletransmission or
telephone message believed by it to be genuine and correct and to have been signed, sent or made by
the proper Person. Collateral Agent may consult with independent legal counsel (which shall not be
counsel for the Credit Parties), independent public accountants and other experts selected by it
and shall not be liable for any action taken or omitted to be taken by it in good faith in
accordance with the advice of such counsel, accountants or experts.

          10.6 Collateral Agent’s Reimbursements and Indemnification. To the extent Collateral
Agent is not reimbursed by Borrower or any other Credit Party, each party hereto will reimburse and
indemnify Collateral Agent, on a pro rata basis, for and against any and all actions, suits,
proceedings (including any investigations, litigation or inquiries), claims, demands, causes of
action, costs, losses, liabilities, damages or expenses of any kind or nature whatsoever which may
be imposed on, incurred by or asserted against Collateral Agent in performing its duties hereunder
or under the Shared Security Documents or otherwise in connection herewith or therewith, including
losses occurring from the ordinary and/or comparative negligence of Collateral Agent, in any way
relating to or arising out of this Agreement; provided that no Secured Party shall be liable for
any portion of such liabilities, obligations, losses, damages, penalties, actions, judgments,
suits, costs, expenses or disbursements to the extent resulting from Collateral Agent’s gross
negligence or willful misconduct.

          10.7 Collateral Agent in its Individual Capacity. Collateral Agent shall have the
same rights and powers hereunder as any other Secured Party and may exercise the same as though it
were not performing the duties specified herein; and the term “Secured Party” or any similar term
shall, unless the context clearly otherwise indicates, include Collateral Agent, in its individual
capacity as and to the extent it owns First Lien Obligations and/or Second Lien Obligations and not
in its capacity as Collateral Agent. Collateral Agent may accept deposits from, lend money to, and
generally engage in any kind of banking, trust, financial advisory or other business with the
Credit Parties as if it were not performing the duties specified herein, and may accept fees and
other consideration from the Credit Parties for services in connection with this Agreement and
otherwise without having to account for the same to any Secured Party except as specified herein.

          10.8 Secured Parties as Owners. Collateral Agent may deem and treat each Secured
Party as the owner of such Secured Party’s
First Lien Obligations or Second Lien Obligations for all purposes hereof unless and until
Collateral Agent is notified of a change in Secured Parties.

          10.9 Successor Collateral Agent.

          (a) Collateral Agent (i) may resign at any time by giving thirty (30) days prior written
notice thereof to Secured Parties and Borrower, (ii) shall promptly resign if any conflict of
interest arises involving any group of Secured Parties and another group of Secured Parties for

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whom it is a trustee or fiduciary under the First Lien Agreements or Second Lien Agreements and
(iii) may be removed at any time by the First Lien Agent, which resignation or removal, in each
case, shall be effective upon the appointment of a successor to Collateral Agent. Upon any such
resignation or removal, the First Lien Agent shall have the right to appoint a successor Collateral
Agent, subject to the consent of Second Lien Agent, not to be unreasonably withheld or delayed. If
within thirty (30) days after the retiring Collateral Agent’s giving of notice of resignation or
the First Lien Agent’s removal of the retiring Collateral Agent, no successor Collateral Agent
shall have been so appointed by the First Lien Agent and accepted such appointment, then, the
retiring Collateral Agent may, on behalf of Secured Parties, appoint a successor Collateral Agent,
which shall be a bank which maintains an office in the United States of America, or a commercial
bank organized under the laws of the United States of America or of any State thereof, or any
affiliate of such bank, having a combined capital and surplus of at least $50,000,000 as of the
date of its most recent financial statements.

          (b) Upon the acceptance of any appointment as Collateral Agent hereunder by a successor
Collateral Agent, such successor Collateral Agent shall thereupon succeed to and become vested with
all the rights, powers, privileges and duties of the retiring Collateral Agent, and the retiring
Collateral Agent shall be discharged from its duties under this Agreement; provided, the
retiring Collateral Agent and the Credit Parties agree to execute and deliver such instruments,
documents, deeds, conveyances or other writing as shall be reasonably requested by any Secured
Party or the successor Collateral Agent to (i) establish or continue the validity and perfection of
any Liens under any Shared Security Documents in place at such time and (ii) transfer to the
incoming Collateral Agent any and all rights, powers, estates, duties and authorities extant under
this Agreement. After any retiring Collateral Agent’s resignation or removal hereunder as
Collateral Agent, the provisions of this Agreement shall inure to its benefit as to any actions
taken or omitted to be taken by it while it was Collateral Agent under this Agreement.

          10.10 Employment of Collateral Agent and Counsel. Collateral Agent may execute any of
its duties as Collateral Agent hereunder or under the Shared Security Documents by or through
employees, agents, and attorneys-in-fact and shall not be answerable to Secured Parties for the
default or misconduct of any such agents or attorneys-in-fact selected by it with reasonable care,
provided that Collateral Agent shall always be obligated to account for moneys or securities
received by it or its authorized agents. Collateral Agent shall be entitled to advice of
independent counsel concerning all matters pertaining to the agency hereby created and its duties
hereunder or under the Shared Security Documents.

          10.11 Limitation on Liability of Secured Parties and Collateral Agent. Secured
Parties and Collateral Agent shall not be deemed, as a result of the execution and delivery of the
Shared Security Documents or the consummation of the transactions contemplated by this Agreement
and the Shared Security Documents, to have assumed any obligation of any Credit Party with respect
to the Common Collateral or any liability under or with respect to any of the contracts,
agreements, leases, instruments or documents which are, or which may hereafter be, assigned to
Collateral Agent for the benefit of Secured Parties.

[Remainder of Page Intentionally Left Blank.]

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     IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first
written above.

	 	 	 	 	 
	FIRST LIEN AGENT: 	 ROYAL BANK OF CANADA, as First Lien Agent 

for and on behalf of the First Lien Secured Parties

 	 
	 	By:  	
/s/ Susan Khokher 	 
	 	 	Name:  	Susan Khokher 	 
	 	 	Title:  	Manager,
Agency 	 
	 
	 	Address for Notices:

Royal Bank of Canada, Agency Services Group

Royal Bank Plaza

200 Bay Street

12th Floor, South Tower

Toronto, Ontario M5J 2W7

Attn: Manager Agency

Facsimile: (416) 842-4023

 	 
	 
	SECOND LIEN AGENT: 	 ROYAL BANK OF CANADA, as Second Lien 

Agent for and on behalf of the Second Lien Secured
 Parties

 	 
	 	By:  	
/s/ Susan Khokher 	 
	 	 	Name:  	Susan Khokher 	 
	 	 	Title:  	Manager,
Agency 	 
	 
	 	Address for Notices:

Royal Bank of Canada, Agency Services Group

Royal Bank Plaza

200 Bay Street

12th Floor, South Tower

Toronto, Ontario M5J 2W7

Attn: Manager Agency

Facsimile: (416) 842-4023

 	 
	 

Intercreditor Agreement

Signature Page 1

 

	 	 	 	 	 
	COLLATERAL AGENT: 	 ROYAL BANK OF CANADA, as Collateral Agent

 	 
	 	By:  	
/s/ Susan Khokher	 
	 	 	Name:  	Susan Khokher	 
	 	 	Title:  	Manager, Agency	 
	 
	 	Address for Notices:

Royal Bank of Canada, Agency Services Group

Royal Bank Plaza

200 Bay Street

12th Floor, South Tower

Toronto, Ontario M5J 2W7

Attn: Manager Agency

Facsimile: (416) 842-4023

 	 
	 

Intercreditor Agreement

Signature Page 2

 

	 	 	 	 	 
	BORROWER: 	 QUEST CHEROKEE, LLC, Borrower

 	 
	 	By:  	/s/ Jerry D. Cash	 
	 	 	Jerry D. Cash, President and 	 
	 	 	Chief Executive Officer 	 
	 
	 	Address for Notices:

Quest Cherokee, LLC

c/o Quest Energy Partners, L.P.

210 Park Avenue, Suite 2750

Oklahoma City, OK 73102

Attn: Chief Executive Officer

 	 
	 

Intercreditor Agreement

Signature Page 3

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