August 5, 2004 Royster-Clark, Inc. 8th Floor Norfolk, Virginia 23510 Re: Letter of Intent Ladies and Gentlemen:Letter of Intent • August 12th, 2004 • Royster-Clark Inc • Wholesale-miscellaneous nondurable goods • New York
This letter of intent, effective when executed by all of the parties hereto, will evidence the current mutual intent, as set forth in Article 1 below, of Royster-Clark, Inc., a Delaware corporation (“Royster”), to sell, and Rentech Development Corporation, a Colorado corporation and its affiliates (“Rentech”) to acquire (the “Acquisition”) or all of the issued and outstanding capital stock (the “Stock”) of Royster Clark Nitrogen, Inc. (the “Company”) which owns a nitrogen facility located in East Debuque, Illinois and related assets (the “Assets”). Each of the Rentech and Royster are sometimes referred to individually as “Party” and collectively as the “Parties.”
