AMENDMENT TO THE MASTER LOAN AGREEMENT
Exhibit 10
Amendment No. RI0291D
THIS AMENDMENT is entered into as of June 5, 2008, between FARM CREDIT SERVICES OF AMERICA,
FLCA (“Farm Credit”) and WESTERN IOWA ENERGY, LLC, Wall Lake, Iowa (the “Company”).
BACKGROUND
Farm Credit and the Company are parties to a Master Loan Agreement dated June 6, 2005 (such
agreement, as previously amended, is hereinafter referred to as the “MLA”). Farm Credit and the
Company now desire to amend the MLA. For that reasons, and for valuable consideration (the receipt
and sufficiency of which are hereby acknowledged), Farm Credit and the Company agree as follows:
1. Section 10(I) of the MLA is hereby amended and restated to read as follows:
SECTION 10. Negative Covenants. Unless otherwise agreed to in writing by Agent, while this
agreement is in effect the Company will not:
(I) Profit Distribution. Declare or pay any dividends, or make any distribution of assets to
the members/owners, or purchase, redeem, retire or otherwise acquire for value any of its
membership units, or allocate or otherwise set apart any sum for any of the foregoing.
2. Except
as set forth in this amendment, the MLA, including all amendments thereto, shall continue
in full force and effect as written.
IN WITNESS WHEREOF, the parties have caused this amendment to be executed by their duly
authorized officers as of the date shown above.
| FARM CREDIT SERVICES OF AMERICA, | WESTERN IOWA ENERGY, LLC | |||||
FLCA |
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By:
|
/s/Xxxxx Xxxxx | By: | /s/ Xxxx Xxxxx | |||
Title:
|
V.P. | Title: | Vice Chairman | |||
