PLEDGE AGREEMENTPledge Agreement • March 26th, 2020 • Pacific Ethanol, Inc. • Industrial organic chemicals • New York
THIS PLEDGE AGREEMENT (as amended, supplemented or otherwise modified from time to time in accordance with the provisions hereof, this “Agreement”) is made on March 20, 2020 by and among PACIFIC ETHANOL CENTRAL, LLC, a limited liability company organized under the laws of Delaware (“Pledgor”), PACIFIC ETHANOL PEKIN, LLC, a limited liability company organized under the laws of Delaware (“Pekin”), and CORTLAND PRODUCTS CORP., as collateral agent for the benefit of the Noteholders (in such capacity, together with its successors and assigns in such capacity, the “Agent”; together with the Noteholders, the “Secured Parties”).
SECURITY AGREEMENT (ILLINOIS CORN PROCESSING)Security Agreement • March 26th, 2020 • Pacific Ethanol, Inc. • Industrial organic chemicals • New York
THIS SECURITY AGREEMENT (the “Agreement”) is dated as of March 20, 2020, and is executed and delivered by ILLINOIS CORN PROCESSING, LLC (the “Debtor”), a Delaware limited liability company, having its place of business (or chief executive office if more than one place of business) located at 400 Capitol Mall, Suite 2060, Sacramento, California 95814 in favor of CORTLAND PRODUCTS CORP., as collateral agent for the benefit of the Noteholders party to the Initial Security Agreement (in such capacity, together with its successors and assigns, the “Agent”; together with the Noteholders, the “Secured Parties”). Capitalized terms not otherwise defined in this Agreement shall have the respective meanings ascribed to them in that certain Security Agreement, dated as of December 15, 2016, by and among Pacific Ethanol, Inc., a Delaware corporation (the “Company”), the noteholders party thereto, and the Agent, as amended by that certain First Amendment to Security Agreement, dated June 30, 2017, b
SECURITY AGREEMENT (PACIFIC ETHANOL CENTRAL, LLC)Security Agreement • March 26th, 2020 • Pacific Ethanol, Inc. • Industrial organic chemicals • New York
This Security Agreement, dated as of March 20, 2020 (as amended, supplemented or otherwise modified from time to time in accordance with the provisions hereof, this “Agreement”), made by and between PACIFIC ETHANOL CENTRAL, LLC, a limited liability company organized under the laws of Delaware (“Grantor”), and Cortland Products Corp., as collateral agent for the benefit of the Noteholders (in such capacity, together with its successors and assigns in such capacity, the “Agent”; together with the Noteholders, the “Secured Parties”).
AMENDMENT NO. 2 TO CREDIT AGREEMENTCredit Agreement • March 26th, 2020 • Pacific Ethanol, Inc. • Industrial organic chemicals
THIS AMENDMENT NO. 2 TO CREDIT AGREEMENT, dated as of March 20, 2020 (this “Agreement”), is entered into by and between ILLINOIS CORN PROCESSING, LLC, a limited liability company organized and existing under the laws of Delaware (“Company”), COMPEER FINANCIAL, PCA, a federally-chartered instrumentality of the United States, successor by merger to 1st Farm Credit Services, PCA (“Lender”), and COBANK, ACB, a federally-chartered instrumentality of the United States (“Agent”). Capitalized terms used but not defined herein shall have the meanings set forth in the Credit Agreement.
INTERCREDITOR AGREEMENTIntercreditor Agreement • March 26th, 2020 • Pacific Ethanol, Inc. • Industrial organic chemicals • New York
This Intercreditor Agreement is made as of March 20, 2020 by and among Cortland Products Corp., a Delaware corporation, in its capacity as collateral agent for itself and the Senior Noteholders (defined below) (in such capacity, together with its successors in such capacity, the “Notes Agent”), CoBank, ACB, a federally-chartered instrumentality of the United States, in its capacity as administrative agent for the holders of the CoBank Secured Obligations (defined below) (in such capacity, together with its successors in such capacity, the “CoBank Agent”), Pacific Ethanol, Inc., a Delaware corporation (the “Company”), and the grantors party hereto (together with the Company, each a “Grantor” and together with the Company, the “Grantors”).
INTERCREDITOR AGREEMENTIntercreditor Agreement • March 26th, 2020 • Pacific Ethanol, Inc. • Industrial organic chemicals • Colorado
THIS INTERCREDITOR AGREEMENT (“Agreement”) dated as of March 20, 2020, is between the PEKIN LENDERS (defined below) and the ICP LENDERS (defined below).
NOTE AMENDMENT NO. 5Pacific Ethanol, Inc. • March 26th, 2020 • Industrial organic chemicals • New York
THIS NOTE AMENDMENT NO. 5 (this “Amendment”) is dated as of March 20, 2020 by and among Pacific Ethanol, Inc., a Delaware corporation (the “Company”) and the Noteholders. Capitalized terms used and not otherwise defined in this Amendment shall have the meanings attributed to them in the Amended Note Agreement and Notes (as defined below).
SECURITY AGREEMENTSecurity Agreement • March 26th, 2020 • Pacific Ethanol, Inc. • Industrial organic chemicals • New York
THIS SECURITY AGREEMENT (as amended, restated, supplemented or otherwise modified from time to time, this “Agreement”), is made by and among Pacific Ethanol, Inc., a Delaware corporation (the “Company”), and COBANK, ACB, a federally-chartered instrumentality of the United States, as Agent for the benefit of the Lenders under the Credit Agreements (together with its successors and assigns, sometimes referred to herein as “Agent” and as “Secured Party”), effective as of March 20, 2020.
THIRD AMENDMENT TO SECURITY AGREEMENTSecurity Agreement • March 26th, 2020 • Pacific Ethanol, Inc. • Industrial organic chemicals • New York
THIS THIRD AMENDMENT TO SECURITY AGREEMENT (this “Amendment”) is entered into effective as of March 20, 2020 by and among Pacific Ethanol, Inc., a Delaware corporation (the “Company”), each of the Holders and the New Holders (as defined below), each in its capacity as a Holder and as a Secured Party, Cortland Products Corp. (“Cortland Corp.”), as Successor Agent (as defined below), and Cortland Capital Market Services LLC (“Cortland LLC”), as existing collateral agent for itself and the Secured Parties (in such capacity, the “Existing Agent”). All capitalized terms not otherwise defined herein or in the Security Agreement (as defined below) shall have the meanings attributed to them in that certain Senior Secured Note Amendment Agreement dated effective as of December 22, 2019 by and among the Company and each Holder (the “Amendment Agreement”).
