9 May 2019
Mr Richard Van Breda
Chief Executive Officer
Stanwell Corporation Limited
Level 2
180 Ann Street
BRISBANE QLD 4000
Dear Richard
Curragh Mine — New Coal Supply Deed
I refer to the Curragh Mine — New Coal Supply Deed between Coronado Curragh Pty Ltd ACN 009 362 565 (Coronado) and Stanwell Corporation Limited ACN 078 848 674 (Stanwell) dated 14 August 2018, as amended (New Coal Supply Deed).
Capitalised terms that are used but not defined in this letter have the meaning specified in the New Coal Supply Deed.
In accordance with the New Coal Supply Deed, various members of the Coronado Group and third parties are required to provide the Acceptable Security to Stanwell. The Acceptable Security should be released and/or returned at the expiry of the New CSA.
To facilitate this, Coronado proposes amending the New Coal Supply Deed to provide that the Acceptable Security is released and/or returned at the expiry of the New CSA. Coronado therefore seeks Stanwell’s agreement that the following clause will be added as a new clause 4.5 of the New Coal Supply Deed:
“4.5 — Return of Acceptable Security
(a) On or after the expiry of the New CSA, Stanwell must, at the written request of Coronado:
(i) discharge any security interest granted under each Acceptable Security; and
(ii) transfer back to the relevant member of the Coronado Group all rights and interests in all accounts and chattel paper which were transferred to Stanwell under any Acceptable Security to which that member of the Coronado Group is a party.
(b) Stanwell’s obligations under this clause 4.5 are subject to Stanwell being satisfied that the relevant member of the Coronado Group or third party does not owe further secured obligations under this deed, the Binding Terms Sheet or the New CSA, or otherwise in respect of the relevant Acceptable Security or guarantee.”
If Stanwell agrees to this amendment of the New Coal Supply Deed, please execute this letter as a deed as provided below and deliver a fully signed counterpart of this letter to the undersigned on behalf of Coronado.
Coronado Curragh Pty Ltd | Level 31, Central Plaza One | T +617 3031 7777 |
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ABN 90 009 362 565 | 345 Queen Street | F +617 3229 7402 |
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| GPO Box 51 Brisbane QLD 4000 |
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| Private Mail Bag | T +617 4986 9211 |
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| Blackwater QLD 4717 | F +617 4986 9361 | www.curragh.com.au |
From the date that each of Coronado and Stanwell have executed and delivered this letter to the other (whether by the exchange of signed originals or by the exchange of signed PDF counterparts by email), the signatories for each party will be deemed to have represented and warranted to the other party that they have all necessary power and authority to execute and deliver this letter as a deed and the provisions of this letter will have full force and effect as a deed, and the New Coal Supply Deed will be amended accordingly.
Yours sincerely
/s/ Garold R. Spindler |
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Garold R. Spindler |
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Chief Executive Officer
Executed as a deed
Executed by Coronado Curragh Pty Ltd ABN 90 009 362 565 in accordance with Section 127 of the Corporations Act 2001 (Cth) |
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/s/ Ayten Saridas |
| /s/ Benjamin J. Pentelow |
Signature of director |
| Signature of |
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Ayten Saridas |
| Benjamin J. Pentelow |
Name of director (print) |
| Name of director/company secretary (print) |
Signed, sealed and delivered by Richard Van Breda for Stanwell Corporation Limited ACN 078 848 674 under power of attorney in the presence of |
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/s/ Philip Ware |
| /s/ Richard Van Breda | |
Signature of witness |
| Richard Van Breda | |
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Philip Ware, Solicitor | 17/5/19 |
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Name of witness (print) |
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www.curragh.com.au