Midwest Grain Processors Cooperative definition
Examples of Midwest Grain Processors Cooperative in a sentence
Part 11 of Exhibit 5A of the Loan Agreement is hereby amended to read as follows: Members Midwest Grain Processors Cooperative 100,209 0 0 29.68% Great Lakes Ethanol, LLC 0 30,403 0 9.01% Lurgi PSI, Inc.
Midwest Grain Processors Cooperative, is a cooperative corporation duly organized and in good standing under the laws of the State of Iowa and is duly qualified to do business and is in good standing in all states where such qualification is necessary, except for those jurisdictions in which the failure so to qualify would not, in the aggregate, have a material adverse effect on its financial condition, results of operations or business.
The Borrower has requested that the Lenders and the Agent (i) consent to the Borrower’s termination of that certain Midwest Grain Processors Cooperative Dry Distiller’s Grains and Wet Distiller’s Grains and Liquid Syrup Products Marketing Agreement dated October 4, 2001, with Commodity Specialists Company (the “CSC Marketing Agreement”), and (ii) make certain amendments to the Loan Agreement.
The Borrower has requested that the Lenders and the Agent (i) consent to the sale of a sixty percent (60%) ownership interest in the Borrower to Global Ethanol, Inc., a Delaware corporation (“Global Ethanol, Inc.”), (ii) release Midwest Grain Processors Cooperative from its obligations as a coborrower under the Loan Agreement and the other Financing Agreements, and (iii) make certain other amendments to the Loan Agreement.
Midwest Grain Processors Cooperative agrees to grant to the Agent for the ratable benefit of the Lenders, a pledge and security interest in one hundred percent (100%) of the membership interests in Midwest Grain Processors, LLC, pursuant to the Amended and Restated Pledge Agreement, in form and content acceptable to the Agent, dated as of the date hereof.