Russell: Here is a summary of the ownership chain of Global Companies LLC:  1.
Its members are Global Petroleum Corp. ("GPC"), YPF Distribution Company  ("YPF") and Montello Oil Corporation ("Montello").
From what they sent to  us, I could not tell the ownership percentages.
2.
The affairs of Global are managed by a "Board of Governors" who are  selected by the members.
Specifically, GPC and Montello collectively get to  choose 3 board members and YPF gets to choose 3 board members.
I your credit worksheet, you had specified as a "MAC" trigger if YPF, SA  fails to own at least 51% of Global Companies.
Is this the same entity as  YPF Distribution Company?
Do you want this as a MAC or as an Additional  Event of Default or Termination Event?
Carol

Global Companies LLC
Russell: Here is a summary of the ownership chain of Global Companies LLC: <NUMBER>.
Its members are Global Petroleum Corp. ("GPC"), YPF Distribution Company ("YPF") and Montello Oil Corporation ("Montello").
From what they sent to us, I could not tell the ownership percentages.
<NUMBER>.
The affairs of Global are managed by a "Board of Governors" who are selected by the members.
Specifically, GPC and Montello collectively get to choose <NUMBER> board members and YPF gets to choose <NUMBER> board members.
I your credit worksheet, you had specified as a "MAC" trigger if YPF, SA fails to own at least <NUMBER>% of Global Companies.
Is this the same entity as YPF Distribution Company?
Do you want this as a MAC or as an Additional Event of Default or Termination Event?
Carol
global companies llc governors selected members ypf sa fails russell summary sent tell ownership mac trigger gpc montello percentages number affairs oil