EX-10.5 AMENDMENT TO THE CONSTRUCTION AND REVOLVING TERM LOAN SUPPLEMENTConstruction Loan Agreement |
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ADVANCED BIOENERGY, LLC | FARM CREDIT SERVICES OF AMERICA, FLCA | ABE FAIRMONT, LLC. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here. |
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EXHIBIT
10.5
Amendment
No. RI0340T02A
AMENDMENT
TO
THE
CONSTRUCTION
AND REVOLVING TERM LOAN SUPPLEMENT
THIS AMENDMENT
is entered into as of
November 20, 2006, between FARM CREDIT SERVICES OF AMERICA, FLCA (“Farm
Credit”) and ABE FAIRMONT, LLC, Fairmont, Nebraska (the
“Company”).
BACKGROUND
Farm Credit and ADVANCED
BIOENERGY, LLC, Fairmont, Nebraska (“Advanced”) are parties to
a Construction and Revolving Term Loan Supplement dated February 17, 2006
(such agreement, as previously amended, is hereinafter referred to as the
“Supplement”). Further, the Company has formally assumed all
obligations under the Supplement from Advanced. Farm Credit and the Company now
desire to amend certain sections of the Supplement. For that reason, and for valuable
consideration (the receipt and sufficiency of which are hereby acknowledged),
Farm Credit and the Company agree that the following sections of the Supplement
are hereby amended to read as follows:
1. The Effective Date in the first
paragraph of the Supplement is hereby amended to be June 1, 2007.
2. Section 3 of the Supplement is
hereby amended and restated to read as follows:
SECTION 3.
Term. The term of the Commitment
shall be from the Effective Date hereof (or, if requested by Company, such
earlier date as Agent may, in its sole discretion, authorize in writing), up to
and including December 1, 2016, or such later date as Agent may, in its
sole discretion, authorize in writing.
3. Section 6 of the Supplement is
hereby amended and restated to read as follows:
SECTION 6.
Promissory Note. The Company promises
to repay on the dates set forth below, the outstanding principal, if any, that
is in excess of the listed amounts:
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