CORRAL PETROLEUM HOLDINGS AB (PUBL) - Preem

effected by the Third Supplemental Agreement:Minimum equity covenantUnder the First Supplemental Agreement this covenant has been amended so that Preem must ensure that theaggregate value of the Adjusted Equity shall be at least:(i) SEK 3,250 million from and including December 31, 2009;(ii) SEK 3,500 million from and including March 31, 2010;(iii)SEK 4,000 million from and including June 30, 2010; and(iv) SEK 4,500 million from and including March 31, 2011.Preem must further ensure that the value of Equity shall be at least SEK 1,000 million at all times.Interest Cover RatioUnder the 2008 Credit Facility as amended by the Second Supplemental Agreement, and the ThirdSupplemental Agreement, Preem must ensure that the ratio of consolidated EBITDA to consolidated interest costs(meaning, in relation to each measurement period, all interest, whether paid, payable or capitalized, incurred by Preemcalculated on a consolidated basis, other than interest on specified subordinated debt), does not fall below:(i) for the measurement period ending on March 31, 2010, 2.00 to 1;(ii) for the measurement period ending on June 30, 2010, 2.00 to 1;(iii) for the measurement period ending on September 30, 2010, 1.75 to 1;(iv) for the measurement period ending on December 31, 2010, 2.25 to 1;(v)for the measurement period ending on March 31, 2011, 2.00 to 1; and(vi) for each measurement period ending after March 31, 2011, 2.00 to 1.Adjusted Net Debt to consolidated EBITDAUnder the 2008 Credit Facility as amended by the Second Supplemental Agreement and the Third SupplementalAgreement,, Preem must ensure that the ratio of Adjusted Net Debt to consolidated EBITDA does not at any timeexceed:(i) for the Measurement Period ending on March 31, 2010, 4.25 to 1;(ii) for the Measurement Period ending on June 30, 2010, 5.00 to 1;(iii) for the Measurement Period ending on September 30, 2010, 5.75 to 1;(iv) for the Measurement Period ending on December 31, 2010, 4.50 to 1;(v)for the Measurement Period ending on March 31, 2011, 4.25 to 1; and(vi) for each Measurement Period ending after March 31, 2011, 4.25 to 1.Adjusted Net Debt to Adjusted EquityUnder the 2008 Credit Facility as amended by the Second Supplemental Agreement and the Third SupplementalAgreement, Preem must ensure that the ratio of Adjusted Net Debt to Adjusted Equity does not at any time exceed:(i) from and including December 31, 2009, 2.50 to 1;(ii) from and including March 31, 2010, 2.25 to 1;(iii) from and including December 31, 2010, 1.75 to 1.Certain General CovenantsThe 2008 Credit Facility also includes a negative pledge, prohibitions on the disposal or acquisition of assets byPreem, restrictions on incurring financial indebtedness, and other restrictions typical of transactions of this nature,including, without limitation, restrictions on capital expenditures, whereby no member of Preem may incur any capitalexpenditures which when aggregated with the capital expenditures incurred by any other member of Preem (other thancapital expenditure for the heavy fuel oil upgrade project which is limited to the aggregate of SEK 500 million while anyamount is outstanding under the 2008 Credit Facility or any commitment is in force), exceeds SEK 1,000 million in any55