Renegy Holdings, Inc. 60 E. Rio Salado Parkway, Suite 1012 Tempe, AZ 85281 August 13, 2008Overrun Guaranty • August 14th, 2008 • Renegy Holdings, Inc. • Engines & turbines
Since the date of the Letter Agreement, additional costs have been incurred in connection with the Plant; there is uncertainty as to what portion of such additional costs are properly characterized as Project Costs, or as Project Costs necessary to achieve “Commercial Operation,” pursuant to the Letter Agreement and the Overrun Guaranty, the Credit Agreement, and the Contribution and Merger Agreement dated as of May 8, 2007, as amended, by and among you, the Company, and certain affiliated parties (the “Contribution and Merger Agreement”) (as such agreements are modified by the Letter Agreement).
Renegy Holdings Inc.Overrun Guaranty • February 13th, 2008 • Renegy Holdings, Inc. • Engines & turbines
The purpose of this letter is to outline our understanding regarding your commitment and obligations under your agreements with Renegy Holdings Inc. ( the “Company”) relating to the payment of Project Costs ( as defined in the Credit Agreement dated as of September 1, 2006, as amended, by and among Renegy, LLC, Renegy Trucking, LLC, Snowflake White Mountain Power, LLC, CoBank, ACB, as Administrative Agent and Collateral Agent, the LC Issuer as defined therein, and the Lenders party thereto (the “Credit Agreement”), and as further defined in the Overrun Guaranty dated as of October 1, 2007 by and between you and the Company (the “Overrun Guaranty”)) and the provision of working capital to the Company. As you know, the Special Committee of the Board of Directors (the “Committee”) and the independent members of the Board of Directors have spent a substantial amount of time on the issues related to the Project Costs.
OVERRUN GUARANTYOverrun Guaranty • October 1st, 2007 • Renegy Holdings, Inc. • Engines & turbines • Delaware
This OVERRUN GUARANTY (“Guaranty”), dated as of October 1, 2007, is entered into by and between Robert M. Worsley and Christi M. Worsley (each individually, a “Guarantor” and collectively, “Guarantors”) and Renegy Holdings, Inc., a Delaware corporation (“Holdings”).
