DEBTOR-IN-POSSESSION LOAN AND SECURITY AGREEMENT Between PRB ACQUISITION, LLC As Lender and PRB OIL AND GAS, INC., and PRB ENERGY, INC. Debtors and Debtors- in-Possession As Borrowers Dated as of May 19, 2008Debtor-in-Possession Loan and Security Agreement • May 27th, 2008 • PRB Energy, Inc. • Natural gas transmission • Colorado
THIS DEBTOR-IN-POSSESSION LOAN AND SECURITY AGREEMENT (the “Agreement”) is entered into by and between PRB ENERGY, INC. (“Energy”) and PRB OIL AND GAS, INC. (“Oil & Gas”), each a Colorado corporation and a debtor and debtor-in-possession in bankruptcy (individually and/or collectively, “Borrower”), and PRB ACQUISITION, LLC, a Colorado limited liability company (“Lender”).
