TYPES OF FINANCING OPTIONS

RNK would consider the following financing options:

1. Payment on Delivery:
   
   RNK would consider a “Payment on Delivery” contract for the direct purchase of any of the above mentioned environmental attributes whereby RNK would pay upon the delivery of the attributes.
   
   A payment upon delivery purchase contract is defined by which RNK and its counterparty would agree on the pre-negotiated price, volume, and delivery schedule of the environmental attributed to be delivered into a dedicated buyer’s account upon their issuance.
   
   
2. Pre-paid Purchase Contract:
   
   RNK would be willing to advance funds incrementally into a project based upon the completion of specific, pre-negotiated project milestones.
   
   The exact terms and conditions of the advanced payments for the purchase of CERs would be documented in a purchase agreement. In order to qualify for a pre-paid structure, the project has to meet the following criteria:
   
   
   • the counterparty must provide satisfactory performance guarantees and demonstrate satisfactory credit quality or credit enhancement (such as a performance letter of credit) to support their delivery obligation;
   
   
   • The attributes must be delivered without any superior or competitive claim or lien.
   
   
   
3. Debt Financing Renewable Energy or Energy Efficiency Projects:
   
   RNK would consider debt financing projects in the form of either senior or subordinated debt under the following conditions:
   
   
   • at least a portion of project debt service would be paid in kind in environmental attributes;
   
   
   • the seller must provide liquidated damages (with related credit support) for debt service obligations which are paid in kind (environmental attributes), or the debt financing must be secured by a security interest in the project or supported by other collateral, such as an acceptable surety or equivalent guarantee in the amount of RNK’s financing;
   
   
   • the project must conform to customary project finance credit criteria, such as sponsor representations, conditions, precedents, covenants, and pledges.

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DISCLAIMER: Nothing herein is intended as an offer or solicitation for the purchase or sale of any financial instrument or securities. This is a request for project proposals and is not an advertisement or general solicitation intended to attract investors as prohibited under the Securities Act of 1933. In submitting your proposal, you warrant and represent that you are duly authorized to submit the information on behalf of your organization. All submissions are for our consideration and for discussion purposes only. Nothing herein creates legal relationships or legal obligations of any kind. Nothing herein is intended to constitute a legally binding offer, invitation, agreement, liability or obligation on the part of RNK Capital LLC, all of which are specifically disclaimed. RNK Capital LLC shall use reasonable precautions to maintain the confidentiality of the information you have provided but expressly disclaims any obligation to maintain confidentiality. Because such information can be accessed through the Internet, you hereby acknowledge and agree that there can be no assurance that the information or any communication through the Internet or email will remain secure. In addition, RNK Capital LLC may disclose such information to its employees, representatives, or any other third party at its sole discretion for any purpose whatsoever.