Re: AGREEMENT TO ACCEPT COLLATERAL IN SATISFACTION OF OBLIGATIONAgreement to Accept Collateral in Satisfaction of Obligation • April 1st, 2011 • Greenshift Corp • Sanitary services
Reference is made to (i) that certain Secured Demand Note dated June ___, 2010 (the “Note”) made by GS COES (Yorkville I), LLC (the “Debtor”) payable to YA Global Investments, L.P. (“YA Global”), and assigned to YA Corn Oil Systems, LLC (the “Secured Party”), in the original principal amount of $10,000,000 (the “Note”), (ii) that certain Security Agreement dated as of June __, 2010 (the “Security Agreement”) by and between the Debtor and YA Global, and assigned to the Secured Party; and (iii) that certain Guaranty Agreement dated as of June __, 2010 (the “Guaranty”, and together with the Note and the Security Agreement, the “COES Financing Documents”) executed and delivered by certain of the Debtor’s affiliates (jointly, severally, and collectively, the “Obligors”) to YA Global and assigned to the Secured Party. Capitalized terms used and not defined herein shall have the meanings given thereto in the Security Agreement.
