SETTLEMENT MEMORANDUM OF UNDERSTANDINGSettlement Memorandum of Understanding • June 14th, 2006 • BPI Energy Holdings, Inc. • Crude petroleum & natural gas • Illinois
This Settlement Memorandum of Understanding (“Memorandum”) is made this 13th day of June, 2006, by and among BPI Energy, Inc., for itself and as successor by merger or otherwise to Methane Management, Inc. and BPI Industries, Inc., (“BPI”), Colt LLC (“Colt”), AFC Coal Properties, Inc. (“AFC”), American Premier Underwriters, Inc. (“APU”), and Central States Coal Reserves of Illinois, LLC (“Central States”) (collectively, the “Parties”), to memorialize and evidence their agreement in principle for the settlement of the lawsuit filed in the United States District Court for the Southern District of Ohio, styled as BPI Energy, Inc. v. Colt LLC, et al., Case No. 06-cv-144 (the “Lawsuit”) and the interlocutory appeal arising therefrom pending before the United States Court of Appeals for the Sixth Circuit, Appeal No. 06-3559 (the “Appeal”) (the Lawsuit and the Appeal referred to collectively as the “Action”). The Parties have agreed to use commercially reasonable efforts to execute by June 19
