EXHIBIT 10.46 PACIFIC ETHANOL MADERA LLC Senior Construction Loan Note Due October 13, 2007 No. 2 Amount: US$11,900,000 Date: April 13, 2006 FOR VALUE RECEIVED, PACIFIC ETHANOL MADERA LLC, a Delaware limited liability company ("PAYOR"), hereby...Senior Construction Loan Note • April 14th, 2006 • Pacific Ethanol, Inc. • Industrial organic chemicals
This Construction Loan Note is one of the Construction Loan Notes referred to in and issued subject to the Construction and Term Loan Agreement, dated April __, 2006 (as amended, modified or supplemented from time to time, the "LOAN AGREEMENT"), among Payor and Note Holder, as a Construction Lender, and the other parties thereto. Except as otherwise defined herein, each capitalized term used herein has the meaning set forth for such term in the Loan Agreement.
