Renewable Diesel Market Value Proposition
VII CALUMET PREFERRED EQUITY SUMMARY
Priority:
Maturity:
The Preferred Units will have a payment priority, liquidation preference and ranking senior to any other class or series of equity of the Pledgor. For the
avoidance of doubt, the Term Loan Facility shall have payment priority, liquidation preference and ranking senior to the Preferred Units
Three years and one day
Initial Liquidity Preference:
100%
Interest/Accretion of
Liquidation Preference:
10% per annum as accretion of Liquidation Preference compounded on a quarterly basis
Put Right:
Conversion:
Transfer Restrictions:
Upon the closing of a Permitted Equity raise, each Preferred Unit holder may cause the Pledgor to redeem all or any of its Preferred Units, including
payment in full of the Liquidation Preference in effect at such time
The Preferred Units shall have the same rights of conversion as those provided under the Term Loan Facility as set forth in Annex
Any transfer restriction will fall away after 3 years from the original closing
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