IN THE NAME OF ALLAH THE MERCIFUL, THE BENEFICENTGuarantee • October 27th, 2010 • Arabian American Development Co • Petroleum refining
Guarantor (Guarantors): Name: Arabian American Development Co. Signature:_/s/ Ghazi Sultan__ As per Identity Card No: Percentage of Liability of Guarantor: 41% Date of SIDF’s Loan Agreement: 2234 22/09/1431 H. 01/09/2010 Gr. Amount of the Loan: SR 330,000,000 (Only Three Hundred & Thirty Million Saudi Riyals) Borrower: AL-MASANE AL-KOBRA MINING COMPANY Address: P.O. Box (55696) Jeddah 21544 Legal Entity: Closed Joint stock company Organized and existing under the Laws and Regulations of the Kingdom of Saudi Arabia and Registered in the Commercial Registration of city Jeddah under No: (4030175345) Date: 7/1/1429H. WITNESS Signature:_/s/Abdulrahman Baamir__ Name: _Abdulrahman Baamir_______ Address: Jeddah WITNESS Signature:_/s/ Mohammed Salel Al-hammed_ Name: _Mohammed Salel Al-hammed_ Address: _Riyadh
In the Name of Allah The Merciful, The Beneficent Loan Agreement No. 2234 On this 22nd day of Ramadan 1431 H. Corresponding to the 01st day of September 2010 G.Loan Agreement • October 27th, 2010 • Arabian American Development Co • Petroleum refining
First party: The Saudi Industrial Development Fund, P.O. BOX 4143, Riyadh 11149, a public financial organization, established and existing under the laws and regulations of the Kingdom of Saudi Arabia, having its office in Riyadh, Kingdom of Saudi Arabia, represented in this Loan Agreement by: Name of Signatory: Mr. Mohammed S. Al-Dobaib Position : Director general – SIDF Hereinafter referred to as “THE FUND”. Second Party : Al-Masane AL-Kobra Mining Company a Closed Joint Stock Co., Established and organized under the Laws and Regulations o the Kingdom of Saudi Arabia. Address: P.O. Box 55696 Jeddah – 21544 And registered in the Commercial Registration of Jeddah No.: (04030175345) Date: 07-01-1429 H. Owned by:- Eng. Mohammed Bin Manea Bin Sulta Abalalla Nationality: Saudi As per: I.D # (1056784334) Position:Authorized according to Board Decision dated 17/7/1432 H Referred to hereinafter as “ THE BORROWER”.
AL MASANE AL KOBRA MINING CO.Corporate Guarantee/Comfort Letter • October 27th, 2010 • Arabian American Development Co • Petroleum refining
As provided in the August 5, 2009 Compromise Agreement signed by all Al Masane Al Kobra (“AMAK”) shareholders, Arabian American Development Company (“AADC”) owns forty-one percent (41%) of AMAK’s shares and is under no requirement or obligation to contribute any further capital to AMAK. In consideration of this agreement and as discussed and agreed to in the September 27, 2010 meeting of the AMAK Board of Directors, we agree to use our best efforts on any SIDF collection proceedings related to the personal and corporate guarantees to prioritize our personal guarantees ahead of the AADC corporate guarantee. This agreement applies only to the 330 million Saudi Riyal SIDF loan No, 2234 dated the 22nd day of Ramadan 1431 H, corresponding to the 1st day of September 2010 G.
