ContractPinedale Sale Agreement • July 7th, 2020 • CorEnergy Infrastructure Trust, Inc. • Real estate investment trusts
On June 30, 2020, CorEnergy Infrastructure Trust, Inc. ("CorEnergy" or the "Company") sold its Pinedale Liquids Gathering System ("Pinedale LGS") to Ultra Wyoming, LLC ("Ultra Wyoming") for an aggregate consideration of $18.0 million (the "Pinedale Sale") at which time the Pinedale Lease Agreement was terminated. In conjunction with the sale of the Pinedale LGS, Pinedale Corridor, LP ("Pinedale LP") and the Company entered into a compromise and release agreement with the Prudential Insurance Company of America ("Prudential") related to the Amended Pinedale Term Credit Facility (the "Prudential Settlement"). Prior to the Prudential Settlement, Pinedale LP had $32.2 million outstanding under the Amended Pinedale Term Credit Facility plus $131 thousand of accrued interest. The Pinedale Sale proceeds of $18.0 million were provided by Ultra Wyoming directly to Prudential. Following the Pinedale Sale, the Company provided the remaining cash available at Pinedale LP of $3.3 million to Prudent
Execution Version LIQUIDS GATHERING SYSTEM SUBLETTE COUNTY, WYOMING PURCHASE AND SALE AGREEMENT BY AND BETWEEN PINEDALE CORRIDOR, LP AS SELLER AND ULTRA WYOMING, LLC AS BUYER DATED JUNE 28, 2020 KE 69366071Purchase and Sale Agreement • July 7th, 2020 • CorEnergy Infrastructure Trust, Inc. • Real estate investment trusts • Texas
COMPROMISE AND RELEASE AGREEMENTCompromise and Release Agreement • July 7th, 2020 • CorEnergy Infrastructure Trust, Inc. • Real estate investment trusts • New York
THIS COMPROMISE AND RELEASE AGREEMENT (the “Agreement”) is made and entered into as of June 26, 2020, by and among Pinedale Corridor, LP, a Delaware limited partnership (“Pinedale”), CorEnergy Infrastructure Trust Inc., a Maryland corporation (“CORR”), the Agent (as defined below), and the Purchasers (as defined below, and together with Pinedale, CORR, and the Agent, the “Parties”). All capitalized terms used herein without definition shall have the respective meanings assigned to such terms in the NPA (as defined below).
