Reference is made to the loan agreement, dated as of September 12, 2007 (as the
same may have been amended, the “Loan Agreement”), among Pure Biofuels Corp., as
Guarantor, Pure Biofuels Del Peru S.A.C. and Palma Industrial S.A.C., as
Borrowers, and Plainfield Special Situations Master Fund Limited, as Lender and
as Administrative Agent. All capitalized terms used herein without definition
shall have the meanings given to such terms in the Loan Agreement.
 
The Borrowers and the Guarantor hereby request that the Lender make a Loan to
the Borrowers in the amount of approximately $818,00.00.
 
The Lender will make such Loan to the Borrowers on the following terms and
conditions:
 

 
1.
$648,000.00 of the Loan will be funded from the remaining unfunded portion of
the Lender’s Commitment (thus reducing such Commitment to $0.00) and the balance
of such Loan will be funded from amount of the Interest Reserve (thereby
reducing the amount of the Interest Reserve to $0.00).

 

 
2.
In consideration for the Lender making the Loan to the Borrowers pursuant to
paragraph 1, the Guarantor and the Borrowers agree as follows:

 

 
(a)
The Guarantor and the Borrowers will execute and deliver, or cause to be
executed and delivered, all such amendments and reaffirmations of the Loan
Documents, opinions, other documents and instruments and take, or cause to be
taken, all such other actions, as the Lender require in connection with the
making of the Loan pursuant to paragraph 1.

 

 
(b)
The Guarantor will execute and deliver or cause to be executed and delivered,
all such amendments and reaffirmations of the Convertible Note Documents,
opinions, other documents and instruments and take, or cause to be taken, all
such other actions (including, without limitation, a shareholders agreement to
vote in favor of such designees at future shareholder meetings), as the Lender
may require in order to reset the exercise price of the Warrants based on the
Guarantor’s common stock share price as of the close of business today.

 

 
(c)
The Guarantor will execute and deliver, or cause to be executed and delivered,
all such agreements, opinions, other documents and instruments and take, or
cause to be taken, all such other actions (including, without limitation,
obtaining an agreement of its shareholders to vote in favor of such designees at
future shareholder meetings), as Plainfield Peru 1 LLC and Plainfield Peru 2 LLC
may require in order to (i) increase the number of Directors on the Board of
Directors of the Guarantor that are their designees from 1 to either 2 or 3, at
the sole discretion of Plainfield Peru 1 LLC and Plainfield Peru 2 LLC, (ii)
cause Christopher Tewell to be elected the Chairman of the Board of Directors of
the Guarantor and (iii) provide such designated Directors with certain blocking
rights they may specify.

 

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(d)
The Guarantors and the Borrowers jointly and severally covenant and agree to pay
all costs and expenses (including, without limitation, legal fees) paid or
incurred by the Lender in connection with the foregoing, within five (5) days
following written notice from the Lender of the amount so incurred or paid by
the Lender.

 

 
(e)
Any breach of the foregoing terms and conditions shall, at the election of the
Lender, constitute an Event of Default.

 
Please confirm your agreement to the foregoing by signing and returning this
email to us.
 

        PURE BIOFUELS DEL PERU S.A.C.  
   
   
    By:   /s/ Luis Goyzueta  

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Name: Luis Goyzueta
 
Title:   Authorized Signatory

 

        PALMA INDUSTRIAL S.A.C.  
   
   
    By:   /s/ Luis Goyzueta  

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Name: Luis Goyzueta
 
Title:   Authorized Signatory

 

        PURE BIOFUELS CORP.  
   
   
    By:   /s/ Luis Goyzueta  

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Name: Luis Goyzueta
 
Title:   Chief Executive Officer and Director

 
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