YA GLOBAL INVESTMENTS, L.P. 101 Hudson Street, Suite 3700 Jersey City, NJ 07302 July 15, 2008Global Energy Inc • November 19th, 2008 • Industrial organic chemicals
This letter shall set forth our understanding regarding certain financing arrangements between Global Energy, Inc. (the “Company”) and YA Global Investments, L.P. (the “Buyer”). In connection with the Securities Purchase Agreement dated July 6, 2007 (the “Securities Purchase Agreement”) between the Company and the Buyer, the Company has issued, and the Buyer holds, the following secured convertible debentures (collectively, the “Debentures”):
YA GLOBAL INVESTMENTS, L.P. 101 Hudson Street, Suite 3700 Jersey City, NJ 07302 September 22, 2008Original Agreement • November 19th, 2008 • Global Energy Inc • Industrial organic chemicals
Reference is made to the letter agreement between Global Energy, Inc. (the “Company”) and YA Global Investments, L.P. (the “Buyer”) dated July 15, 2008 (the “Original Agreement”) concerning that certain Securities Purchase Agreement dated July 6, 2007 (the “Securities Purchase Agreement”) between the Company and the Buyer and the secured convertible debentures (collectively, the “Debentures”) and warrants (the “Warrants”) issued thereunder. Global Energy has requested that certain changes be made to the Original Agreement. The parties desire to make such changes as set forth herein and the parties intend for this letter to update and supersede the Original Agreement.
