April 17, 2013 Holders of Mission NewEnergy Limited Series Three Convertible Notes Re: Agreement and Release among Noteholders Dear Sirs:Westcliff Trust • May 15th, 2013 • Industrial organic chemicals
As you know, SLW International, LLC has acted as non-fiduciary intermediary on behalf of the holders of the Series Three Convertible Notes (the “Notes”) with Mission NewEnergy Limited (the “Company”) concerning a potential sale of Mission’s 100,000 tpa biodiesel refinery and related assets in Malaysia (“M1 Asset Sale”) and the holders of the Notes are considering a proposal whereby a portion of the outstanding amount of the Notes would be redeemed by the Company in the event of the consummation of such M1 Asset Sale.
Re: Waiver for Material Asset SaleWestcliff Trust • May 15th, 2013 • Industrial organic chemicals
This Letter (the “M1 Waiver Agreement”) relates to Mission NewEnergy Limited (the “Company”), issued Series Three Convertible Notes Deed Poll dated as of November 23, 2012, (“CN3 Deed Poll”). Except as expressly agreed hereby, the CN3 Deed Poll remains in full force and effect in accordance with its terms. Terms used herein and not otherwise defined shall have the meanings ascribed to them in the CN3 Deed Poll.
