Laserfiche WebLink
FOR THE NORTH A*~RICAN COAL CORPORATIOI7 <br />are Customary for a transaction of this nature:. <br />3. Due diligence <br />NAC has conducted its due diligence within. the...:scheduling <br />and parameters established by Galdman,..Sachs..and.Company on <br />behalf of MPC, and we are relying on thc'information <br />provided to us by MPC. NAC's proposal is subject to the <br />verification of the historical information and projections <br />provided to us and to the results of a final duo diligence <br />investigation of NRC. Examples of outstanding items include, <br />but ara nut limited to, our rcquc~t for a schedule of <br />projected recoupment of advance royalties and our request <br />~_ for the next level of detail in the 2000 to 2009 Business <br />plan, Capital and Operatiqns Budget. <br />9- Identity o£ purchaser 1 <br />The purchaser would be NAC, a Delaware corporation, or a <br />wholly owned affiliate (and references in this letter to <br />"NAC" are intended to include such affiliate).' <br />5. Basis of interest in NRC and plans for managing NRC <br />( NAC's interest in NRC is strategic, and NAC plans to operate <br />the business in a manner that enhances its value in <br />conjunction with our existing mane-mouth Gulf Coast lignite <br />operations in Louisiana, Mississippi and Texas. <br />NAC recognizes the value.IoY the NttC personnel_ NAC: envisions <br />retaining substantially alll of NRC's employees. NAC would <br />also rely nn thAi..r. experience to enhance our seven existing <br />operations. NAC's continued growth should result in <br />opportunities for NRC employees both domestically and <br />internatianally_ <br />6. Corporate Approvals Required <br />Any agrpPments involving NAC and MPC will be binding upon <br />the parties only after the execution and delivery of, and <br />only in accordance with the terms and conditions contained <br />in, mutually agreeable defa.nitlve wril.Leu ayiee,nenc~ t~eCween <br />NAC and MPC. While this Proposal is in response to your <br />letter of August 1, 2000, it is not intended to and shall <br />not be binding on NAC or .create either a contract or an <br />offer that may be accepted without negotiations between the <br /> <br />Q/1256 <br />ZZ 3~Jdd W(I1F71 WIP 65S09b86iL 55~bS L00Z/9SlE0 <br />