THE PARENT DELIVERS TO THE AGENT IN FORM AND SUBSTANCE SATISFACTORY
TO THE MAJORITY LENDERS, ACTING REASONABLY, AT THE SAME TIME THAT THE COMPLIANCE
CERTIFICATE IN SUB-PARAGRAPH (A) IS DELIVERED, A FORECAST OF THE PARENT'S
COMPLIANCE (AS IF NO WAIVER HAD BEEN GRANTED PURSUANT TO THIS LETTER) WITH THE
FINANCIAL COVENANTS SET OUT IN CLAUSE 23.1 (FINANCIAL COVENANTS) FOR THE NEXT
CONSECUTIVE 6 MONTH PERIOD; AND
(C)
THE MAJORITY LENDERS, ACTING REASONABLY, ARE SATISFIED THAT IF THE
PARENT MAKES THAT DISTRIBUTION, NO EVENT OF DEFAULT OR REVIEW EVENT IS
CONTINUING OR WOULD RESULT FROM IT.
REPORTING REQUIREMENTS
2.12
WITHOUT PREJUDICE TO THE PROVISION OF CLAUSE 22.4 (INFORMATION:
MISCELLANEOUS), DURING THE WAIVER PERIOD THE OBLIGORS UNDERTAKE TO SUPPLY TO THE
AGENT IN A FORM SATISFACTORY TO THE AGENT WITHIN 15 BUSINESS DAYS AFTER THE LAST
DAY OF EACH MONTH:
(A)
A REPORT SETTING OUT THE PERFORMANCE REPORT IN RESPECT OF THE
AUSTRALIAN ASSETS AND IN RESPECT OF THE CONSOLIDATED US ASSETS RESPECTIVELY,
INCLUDING THE FOLLOWING DETAILS:
(I)
SALES PRODUCTION;
(II)
OPERATING COST PER TONNE;
(III)
SALES VOLUME;
(IV)
AVERAGE REALISED PRICE;
(V)
DEBTORS AND CREDITORS BALANCE (INCLUDING A COMMENTARY IF THERE
IS A + / - 10% DEVIATION OF THE BALANCE FROM THE IMMEDIATELY PRECEDING REPORT);
AND
(VI)
STOCKPILES AND INVENTORY OF COAL; AND
(B)
A REPORT OUTLINING THE GROUP'S MONTHLY FORECAST CASHFLOW AND WORKING
CAPITAL REQUIREMENTS FOR THE PERIOD TO 30 SEPTEMBER 2021 INCLUDING (IF THERE IS
A MATERIAL DEVIATION, WHICH WOULD INCLUDE + / - 10% OF CASH FLOWS FROM
OPERATIONS, FROM THE IMMEDIATELY PRECEDING FORECAST) A RECONCILIATION OF THE
GROUP'S FORECAST CASHFLOW AND WORKING CAPITAL REQUIREMENTS FOR THAT MONTH
AGAINST THE ACTUAL CASHFLOW AND WORKING CAPITAL REQUIREMENTS OF THAT MONTH. FOR
THE
5
--------------------------------------------------------------------------------
AVOIDANCE OF DOUBT, THE REPORT SHALL ALSO SET OUT THE CONSOLIDATED CASH BALANCE
OF THE GROUP AND THE OUTSTANDING DEBT POSITION OF THE GROUP AS AT THE LAST DAY
OF THE RELEVANT MONTH.
2.13
WITHOUT PREJUDICE TO THE PROVISION OF CLAUSE 22.4 (INFORMATION:
MISCELLANEOUS), WITHIN 60 DAYS AFTER THE LAST DAY OF EACH QUARTER OTHER THAN 30
SEPTEMBER 2021 AND WITHIN 30 DAYS OF THE QUARTER ENDING 30 SEPTEMBER 2021, THE
OBLIGORS UNDERTAKE TO SUPPLY TO THE AGENT:
(A)
A COPY OF THE COMPLETED FORM 10-Q FILED BY THE GROUP WITH THE US
SECURITIES AND EXCHANGE COMMISSION WITH RESPECT TO THAT DATE; AND
(B)
A COMPLIANCE CERTIFICATE AS AT THAT DATE, WITH THE RATIOS CALCULATED
BY REFERENCE TO THE FORM 10-Q, TOGETHER WITH COMPUTATIONS (IN REASONABLE DETAIL)
(AND SUBJECT, IN RESPECT OF THE CONTENTS OF THE COMPLIANCE CERTIFICATE, TO
PARAGRAPH 2.6).
EACH SUCH COMPLIANCE CERTIFICATE SHALL BE SIGNED BY THE CHIEF
EXECUTIVE OFFICER AND GROUP CHIEF FINANCIAL OFFICER OF THE PARENT.
2.14
THE OBLIGORS UNDERTAKE TO PROVIDE ALL LENDERS BY NO EARLIER THAN 15
NOVEMBER 2020 AND NO LATER THAN 15 DECEMBER 2020, UPDATED BOARD APPROVED
FINANCIAL MODEL (UPDATED FROM THAT PREVIOUSLY PROVIDED TO THE LENDERS) AND BOARD
APPROVED CAPITAL MANAGEMENT PLAN (IN A FORM WHICH MUST BE PROVIDED BY THE AGENT
TO THE