Extract to table

The purpose of this memorandum is to (i) describe the material insurance programs currently in place, (ii) assess the adequacy of existing coverage for a company transitioning to public-company status, and (iii) identify any gaps, deficiencies, or action items that must be addressed prior to or in connection with the IPO

The non-rescindable Side A DIC feature in the primary Meridian National Assurance Company policy must be confirmed and, if necessary, enhanced

Insurance covenants under the Veltrano National Bank corporate credit facility, the Prairie Commercial Bank project-finance construction-to-term facilities, and the Veltara Basin Financial LLC tax-equity partnership agreement must be confirmed as satisfied by the existing insurance program, including any modifications made in connection with the IPO

As discussed above, the current Side C coverage must be expanded to cover public-company securities claims

However, as a matter of best practice and to preserve the Company's rights under the policies, formal written notice of the IPO must be provided to all three carriers in advance of the Offering

The property insurance program must satisfy the insurance covenants contained in the Veltrano National Bank corporate credit facility (discussed in Section XII