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<br />Exhibit 3 -Order Appr*y*e5)ietticPraajtt 8,99c53nent Page 4 of 14
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<br />Exhibit 3 -Order ApprTntlalg05hetticMa 0AgfcVnent Page 5 of 14
<br />IN THE UNITED STATES BANK RU P`TCY COURT
<br />FOR THE SOUTHERN DIST RiCT OF OHIO
<br />In M; J Chapter I
<br />]
<br />Ilopedale Mining, LLC, el 01.,' ) Case No- 120-bk-12043 (CRI1)
<br />] (Jointly Administered)
<br />]
<br />Debtors. J Hon. Guy R. Humphrey
<br />1
<br />This SETTLEMENT AGREEMENT (the "Agreemem') is entered into as of October 15.
<br />2020, by and among (a) the Pr petiiimn Lcrdcn,� (h) the DIP Lcndcra, (c) the Official Cmunince
<br />of Unsecured Creditors appointed in the above -captioned chapter I I cases (thc'+Committcc'"}, and
<br />(d) solely with respect to paragraphs 4, 5, 6 and 7 hereof, the Deblers (the Prepetiliml Lenders, the
<br />DIP Lenders, the Commituc. and the Debtors cash shall be referred to herein as a "REY" and
<br />eel Itctively as the "Parties') and hereby agree m follows:
<br />RECITALS
<br />WHEREAS, on July 22, 20A the Deblom filed volunlary petitions under chapter I I of
<br />the Rankruptcy Code in this Coun-
<br />' The Ikhtor, in these Clwper I I w,es art (with lhs lul low digit, of their kdeml us ideraifcarm numbers in
<br />parerth s}_Rhino GP LLC (2619),Rhit. Rcmuree Part..LP(7517X Rhino Energy LLC(6320k Rhino Trucking
<br />LLC(8773), Rhirw ONpl-6. LLC t8863k Trial RnefSupp- Sys.- LLC I I193), Sprin?ydale I nd LLC (9816J,
<br />McClave Canyon Mining LLC (37113). Rhino Nonhe. I loldings LLC I IIISS). CAMOhio Real Enoic LLC (1k59),
<br />CAMdblorralo LLC t4269), Taylorville Mining LLC (51 to), CAM Cool Trading LLC(4143). Castle Valley Mining
<br />LLC (9495). 1-11. Valley Mining LLC (0270), Rhino Servires LLC {3356X Rhino Oilfield S—ires LLC (5939J
<br />Rhino Tectmlogisa LLC(0994). CAM Mining LLC(2499). Rhino Coalfield Services LLC I-M4), Hopedale Mining
<br />LLC [9060j CAM-ILcmucky Real Estate LLC (9089J, CAM-RB LLC (90971. Lillc Land LLC (7794), CAM
<br />Airaafl LLC(6467). Psmr3m'le Energy I.LCf 6045). Rhim 1-:amen LLC (14:971. Rvckhuu,c land LLC (7702),
<br />r C.plmlimd tenor, that are not dAmed herein chill hove me meaTd,p ascribed m meat la nee Fbarl D,der
<br />(H Aafhrirkmg rh, &N., h, {AI Usta s n Pa+r-PerMwt Fisaaeixx wed IBI Use Cark Geif-1, (11I Graelrmx Lk-
<br />1 Pon idr,,a 5.7-7 iaft AdmlairrmFrr F-7r .Srmue, 111P (,-rwv A&V'-re Pa.nx-mar no the (',•ramie,
<br />Setiiarv7!}rrrirs.fli').Nralfjr}ing lire .{naanuri[7fei aru7(IT(irrnrnxR Brdufed ReliNlnaclmt No-2381 ishc "j ti�
<br />DI P Urdn"1
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<br />Exhibit 3 -Order Appioto-siaagEfalettle?WjEt RgIcIanent Page 6 of 14
<br />extended] solely as it relates la the Committee Part 2 Initial Challenges was extended to October
<br />9, 2020 [Docket No. 3921.
<br />WI IE•R E•AS, pursuant to Paragraph 27 of she Final DIP Order, the Committee also had until
<br />October 9, 2020 to bring any Second Period Challenges (together with the Initial Challenge
<br />Deadline, the "Challe»xc_Dcadlincs"J.
<br />WHEREAS. on Septeniber la, 2020, the Debtors consummaled the sale of certain assess
<br />to assignees and designees of the DIP Socumd Panics and the Prcpctition Secured Partin (the
<br />':Sale CL-,inti') in accordance wilb the Obder 0) Apprm•Hrg rl r Sale f SO-lommlly All of zh
<br />Debtors'Assers Free and Clear of All Non -Assumed Liens, Claims, Encumbrances. and Inreresrs;
<br />(ff) Appr(ning the A.rsumplum amf Astgnment of Cermin F.xexlnory Comm rk and Unerpired
<br />Ir seer. and (111) Granrrng Re[olevl Relief[ Daeket No_ 410) (the "Sale Order')_
<br />WHEREAS, on October 9, 2020, pursuant to the 5+psdalrnn Regarding Exyen.sinn aflrririal
<br />Challenge Perhwl and Deadline to A.srrrl Saand Period Cheiilengc�v- (Docket No- 4681, the
<br />Committee. the Debtors, she DIP Lenders, and the Prcpctition Lenders entered into a stipulation
<br />extending the Challenge Deadlines to November 11. 2020 at 3:00 p-m- (Fasten); provided, shot
<br />the Challenge Deadlines may be truncated by written agreement of the Committee, the Debtors,
<br />the DIP Lenders and the Prgxlilim Lenders, or by further order of the Court.
<br />WHEREAS. the Committee and the Prepclition Lenders have been working dil igemly to
<br />resolveall claims than ohc Comminn has idcntifitd agaiTro[ she Prcpclition Leridersand the Parties
<br />have agreed to a settlement on the terms set forth below.
<br />NOW, THEREFORE, in consideration of the foregoing, the parties hereby agree as
<br />follows:
<br />WI IE•REAS, on July 30, 2020, the United States Tnielee appointed the Committee -
<br />WHEREAS, on Augusl 12, 2020. this Court entered the Final DIP Order.
<br />WI IE•RFAS, pursuant to the Final DIP Order, on August 25, 2020 at 12!59 p.m- (Eastern)
<br />and 3r20 p-m- (Eastern) ('Notice i" and "Notice 2" mspcerivcly), the Committee sent written
<br />notice, to the Prcpctilion Secured Panics' counsel of its inunl to file certain Initial Challenges and
<br />specified those Initial Chal lenses (the challenges specified in pan I of Nol ice 1, the'+Conitniltce
<br />Pan 1 Inil ial Cho IIcnxcu", the challenge spcci ficd in Notice 2 and pan 11 of Notice 1, the
<br />"Cummint+u Pan 2 Initial Challm ", and Cal!actively, she "Cummilus, Initial Challcn6t").'
<br />WHEREAS, pursuant to Paragraph 27 of the Final DIP Order, the Corrmirtcc, the DIP
<br />I -enders, the Prepe[ium Lenders, and the Debtors filed a stipulal ion to extend the Initial Challenge
<br />Deadline In September 3, 2020; provided, shot she Initial Challenges are limited to (hose
<br />Committee Initial Challenges that were idemifed on August 25, 2020 and shall not include any
<br />additional challenges [Docket No- 355]-
<br />WHEREAS, on September 3, 2020. pursuant to the Stipulation and Agreed Order
<br />Regarding Cerlaln Liens Afulfem and Extension oflndial Challenge Period (Uocket No- 3921 (the
<br />"Lien Stioulatiun'), the Committee Part I Initial Cho]langes were resolved effective as of the date
<br />of the Sale Closing (as defined hdo+.9, and such resclutton is binding on a chapter 7 trustee.
<br />WHEREAS, pursuant ro the Lien Stipulation, the Committee's Initial Challenge Deadline
<br />of Stptember 3, 2020 at 500 p.m. (Eastern) under Paragraph 27 of the Final DIP Order (as
<br />In the Commi[tce Pan ]Initial Clrtlongcs, arc Committer challcrges Ihe validioy ofmo liens of the Prepctioion
<br />Secured Parties relaling to Motor Vehicles. the JV Real Propeniex, she RF. Real Pmpmies, cenaia depoxis aocounu,
<br />said certain commercial Ion eloims- In Ihe Cnmmiltee Pan 2 Initial Clnllenges, the Committee challenge, the
<br />altow,bility of he f 1"w st -Mponwas of Ihe Prepelihoa Sauml NmNl' claims: (1) —It lira• f as
<br />(ii) makswholc claims.(m) origination fees, (iv)consent ircx and tv}cait f This summary is WILKIod hrncin for
<br />relMeree P.m. a only and ix qualified in its emimy by Nnsi-- I afld N.J. 2-
<br />2
<br />Camd 22Zibl1-32493 DODMW2-9ilediM/2lEntEmltniiLFflP1BM-IMW:30esDUain
<br />Exhibit 3 -Order ApP ml(iurge9ettldPwW&g(a anent Page 7 of 14
<br />I. The PmWin cu) Lenders shall trans Fer to she Debtors' estates (a) $40%000 in cash
<br />no laser than 3 business days after entry ofthe Bankruptcy Cmrt's order approving Ibis Agreentent
<br />(Ihe"Inilwl Settlement Payment" ),and (b) solely [o shrextenla Plan oar dermal be]ow) canlaining
<br />the provisions set forth in paragraph 5 huroof is cm6nned by the Ilankropley Court, 5100.000 in
<br />cash on the effective dale ofsuch Plan (such amount, together with the Initial Settlement Payment,
<br />the "Settlemern Payment").
<br />2. The "Sulticmcnt Effoclivc Date" shall occur upon the payment of the Initial
<br />Settlement Payment.
<br />3. The Prep Dion Lenders shall rcocivc W1. of all net socowrics paid to general
<br />unsecured Creditors of The Debtors until the Prepelition Lenders remer on wriotint equal to the
<br />atnount of -the Settlement Payment (the "Settlement Payment Recovery Amorml')_ whether such
<br />anwunt is mcrov rel under a Plan, in a case undee ehaper 7, or otherwise.
<br />4. In mutual consideralion for the concessions made as set forth in Ibis Agreement as
<br />of the Settlement Effective Date:
<br />(a) Except as set forth herein, she DIP Lenders and the Prepetilim) Lenders
<br />waive and release all claims against The Debtors' elates including. without line lion, any
<br />unsocursxl deficiency claims, and also waive and release the Deblors' current and former officers,
<br />managers, directors, attorneys, accountants, investment bankers, consultants, representatives, and
<br />other prof—ionals from ell claims, right neat causes of ac[iun in any way related to the D ttoTs
<br />or their estates: provided that (i) any and all rights and claims relating so this Agreement or the
<br />Settlement Payment Recove y Amount shall be preserved. and (ii) any and a]I rights and claims of
<br />the DIP Secured Parties and the Prepetitian Secured Parties and any of their respective assignees
<br />3 4
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