Reference is hereby made
to that certain Amended and Restated Senior Credit Agreement, dated as of June 16, 2010 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), by and among ABE South Dakota, LLC
(f/k/a Heartland Grain Fuels, L.P.), as Borrower (the “Borrower”), each of the Lenders from time to time party thereto, Wilmington Trust, National Association, as successor to Portigon AG, New York Branch in its capacity as
administrative agent for the Lenders (the “Administrative Agent”) and Wilmington Trust, National Association, as successor to Portigon AG, New York Branch in its capacity as collateral agent for the Senior Secured Parties (the
“Collateral Agent”). Capitalized terms used herein but not otherwise defined herein shall have the respective meanings set forth in the Credit Agreement.
A. Limited Waiver of the Obligation to Make BNSF Lease Subject to Aberdeen Mortgage.
Pursuant to Section 3.03(a) and paragraph 3 of Schedule 3.03(a) of the Agreement of Resignation, Appointment and Acceptance, dated as of
March 7, 2013, among the Borrower, Portigon AG, New York Branch, as Resigning Agent, and Wilmington Trust, National Association, as Successor Agent (the “Agency Succession Agreement”), the Borrower represented and warranted
that it was in default of Section 7.01(l)(i) of the Credit Agreement as it relates to the obligation to provide a supplement to the Aberdeen Mortgage granting a Lien over the BNSF Lease (such obligation, the “BNSF Lease
Pursuant to a request made to the Administrative Agent on December 16, 2013, a copy of which is attached
hereto as Annex A (the “Waiver Request”), the Borrower has requested, inter alia, a waiver of the BNSF Lease Obligation.
By signing below, each Lender waives any Default or Event of Default that has occurred and is continuing as a result of the Borrower’s
failure to satisfy the BNSF Lease Obligation. Notwithstanding the preceding sentence, by signing below, the Borrower agrees, by no later than June 30, 2014, to satisfy the BNSF Lease Obligations.
B. Conditions to Effectiveness.
This letter agreement and the waivers and consents set forth herein shall become effective as of January 31, 2014 upon satisfaction of
each of the following conditions:
(a) execution and delivery of this letter by the Required Lenders, the Borrower and the Administrative
(b) satisfaction by the Borrower of its obligation, under Section 3.04 of the Credit Agreement, to pay to the
Administrative Agent for the ratable account of each Lender additional interest on the Loans at 2% per annum (such additional interest, the “Default Interest”) that accrued through the date hereof as a result of certain Events
of Default, in the amount as set forth in clause (a) of paragraph C below.
C. Direction to Administrative Agent.
By signing below, each Lender:
(a) confirms to the Administrative Agent that the aggregate amount of the Default Interest due under Section 3.04 of the Credit Agreement
as of the date hereof is $1,058,278.89 and
(b) authorizes and directs the Administrative Agent to execute this letter agreement.
THIS LETTER AGREEMENT
SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, UNITED STATES OF AMERICA, WITHOUT REFERENCE TO CONFLICTS OF LAWS (OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW).
Notwithstanding anything contained herein, these waivers (i) are limited waivers, (ii) are effective only with respect to the
transactions described herein for the specific instance and the specific purpose for which they are given, (iii) shall not be effective for any other purpose or transaction, and (iv) do not constitute a basis for a subsequent waiver,
consent or approval with respect to any of the provisions of the Credit Agreement. Except as expressly set forth herein, nothing herein shall constitute a waiver by the Lenders of any Default or Event of Default or a waiver by the Lenders of any
right, power or remedy available to the Lenders or the other Senior Secured Parties under the Credit Agreement, whether any such defaults, rights, powers or remedies presently exist or arise in the future.
This letter agreement is a Financing Document under the Credit Agreement.
This letter agreement may be executed in any number of counterparts and by the different parties
hereto on separate counterparts, each of which when so executed and delivered shall be an original, but all of which shall together constitute one and the same instrument. Delivery of an executed counterpart of a signature page of this letter
agreement by facsimile, portable document format, e-mail or other electronic delivery shall be effective as delivery of a manually executed counterpart of this letter agreement.
Please feel free to contact us with any questions on this matter.