PARR · Par Pacific Holdings, Inc. · Financials

Verified covenant terms

• (b) · OFFERS TO REPURCHASE (b) If the Company or any of its Restricted Subsidiaries consummates an Asset Sale, within 10 Business Days of each date that the aggregate amount of Excess Proceeds exceeds $50.0 million, the Issuer shall make an offer to all Holders of the Notes and, if required or permitted or such earlier date if the Issuer so elects by the terms of any other Pari Passu Indebtedness, to the holders of such Senior Indebtedness (an “Asset Sale Offer”), to purchase the maximum aggregate principal amount of the Notes and… Metric: aggregate amount of Excess Proceeds Stated threshold: 50 million Testing frequency: within 10 Business Days of each date Springing Trigger: the aggregate amount of Excess Proceeds exceeds $50.0 million 8. OFFERS TO REPURCHASE.
  Full wording and supporting evidence

  Source evidence: (b) If the Company or any of its Restricted Subsidiaries consummates an Asset Sale, within 10 Business Days of each date that the aggregate amount of Excess Proceeds exceeds $50.0 million, the Issuer shall make an offer to all Holders of the Notes and, if required or permitted or such earlier date if the Issuer so elects by the terms of any other Pari Passu Indebtedness, to the holders of such Senior Indebtedness (an “Asset Sale Offer”), to purchase the maximum aggregate principal amount of the Notes and such Pari Passu Indebtedness that is a minimum of $2,000 or an integral multiple of $1,000 in excess thereof that may be purchased out of the Excess Proceeds at an offer price in cash in an amount equal to 100% of the principal amount thereof, plus accrued and unpaid interest to the date fixed for the closing of such offer, in accordance with the procedures set forth in the Indenture.

  Target identity evidence: INDENTURE, dated as of May 14, 2026, among Par Petroleum, LLC, a Delaware limited liability company (the “Issuer” or the “Company”), the Guarantors (as defined herein) and U.S. Bank Trust Company, National Association, as trustee (the “Trustee”), as paying agent (the “Paying Agent”), registrar (the “Registrar”), transfer agent (the “Transfer Agent”) and authenticating agent (the “Authenticating Agent”).

  Target identity evidence: WHEREAS, each of the Issuer and the Guarantors (as defined in the Indenture referred to below) has heretofore executed and delivered to the Trustee an indenture (the “Indenture”), dated as of May 14, 2026, providing for the issuance of an unlimited aggregate principal amount of 7.375% Senior Notes due 2034 (the “Notes”);

• (a) · OFFERS TO REPURCHASE Upon the occurrence of a Change of Control that results in a Ratings Decline, the Issuer shall make an offer (a “Change of Control Offer”) to each Holder to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of each Holder’s Notes at a purchase price equal to 101% of the aggregate principal amount thereof plus accrued and unpaid interest thereon, if any, to but excluding the date of purchase (the “Change of Control Payment”). Springing Trigger: the occurrence of a Change of Control that results in a Ratings Decline 8. OFFERS TO REPURCHASE.
  Full wording and supporting evidence

  Source evidence: (a) Upon the occurrence of a Change of Control that results in a Ratings Decline, the Issuer shall make an offer (a “Change of Control Offer”) to each Holder to repurchase all or any part (equal to $2,000 or an integral multiple of $1,000 in excess thereof) of each Holder’s Notes at a purchase price equal to 101% of the aggregate principal amount thereof plus accrued and unpaid interest thereon, if any, to but excluding the date of purchase (the “Change of Control Payment”). The Change of Control Offer shall be made in accordance with Section 4.14 of the Indenture.

  Target identity evidence: INDENTURE, dated as of May 14, 2026, among Par Petroleum, LLC, a Delaware limited liability company (the “Issuer” or the “Company”), the Guarantors (as defined herein) and U.S. Bank Trust Company, National Association, as trustee (the “Trustee”), as paying agent (the “Paying Agent”), registrar (the “Registrar”), transfer agent (the “Transfer Agent”) and authenticating agent (the “Authenticating Agent”).

  Target identity evidence: WHEREAS, each of the Issuer and the Guarantors (as defined in the Indenture referred to below) has heretofore executed and delivered to the Trustee an indenture (the “Indenture”), dated as of May 14, 2026, providing for the issuance of an unlimited aggregate principal amount of 7.375% Senior Notes due 2034 (the “Notes”);

• 12 · DEFAULTS AND REMEDIES If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Notes to be due and payable immediately. Springing Trigger: If any Event of Default occurs and is continuing Exceptions: Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Notes will become due and payable immediately without further action or notice. 12. *DEFAULTS AND REMEDIES*.
  Full wording and supporting evidence

  Source evidence: The Events of Default relating to the Notes are defined in Section 6.01 of the Indenture. If any Event of Default occurs and is continuing, the Trustee or the Holders of at least 25% in principal amount of the then outstanding Notes may declare the principal, premium, if any, interest and any other monetary obligations on all the then outstanding Notes to be due and payable immediately. Notwithstanding the foregoing, in the case of an Event of Default arising from certain events of bankruptcy or insolvency, all outstanding Notes will become due and payable immediately without further action or notice.

  Target identity evidence: INDENTURE, dated as of May 14, 2026, among Par Petroleum, LLC, a Delaware limited liability company (the “Issuer” or the “Company”), the Guarantors (as defined herein) and U.S. Bank Trust Company, National Association, as trustee (the “Trustee”), as paying agent (the “Paying Agent”), registrar (the “Registrar”), transfer agent (the “Transfer Agent”) and authenticating agent (the “Authenticating Agent”).

  Target identity evidence: WHEREAS, each of the Issuer and the Guarantors (as defined in the Indenture referred to below) has heretofore executed and delivered to the Trustee an indenture (the “Indenture”), dated as of May 14, 2026, providing for the issuance of an unlimited aggregate principal amount of 7.375% Senior Notes due 2034 (the “Notes”);