Execution Copy
 

 
SIXTH AMENDMENT TO
 
CREDIT AGREEMENT
 
THIS SIXTH AMENDMENT TO CREDIT AGREEMENT (this “Amendment”) is entered into to
be effective as of December 18, 2009 (the “Effective Date”), among SOUTHWEST
IOWA RENEWABLE ENERGY, LLC, an Iowa limited liability company (the “Borrower”),
AGSTAR FINANCIAL SERVICES, PCA (“AgStar”), the other commercial, banking or
financial institutions whose signatures appear on the signature pages hereof or
which hereafter become parties to the Credit Agreement (the “Banks”), and AGSTAR
FINANCIAL SERVICES, PCA, and its successors and assigns, as Agent for itself and
the other Banks (the “Agent”).  Capitalized terms used and not otherwise defined
herein shall have the meanings assigned to them in the Credit Agreement (as
defined below).
 
RECITALS
 
A.           The Borrower, the Agent, and the Banks have entered into a Credit
Agreement dated May 2, 2007; a First Amendment to Credit Agreement dated
March 7, 2008; a Second Amendment to Credit Agreement dated December 19, 2008; a
Third Amendment to Credit Agreement dated December 30, 2008; a Fourth Amendment
to Credit Agreement dated as of February 28, 2009; and a Fifth Amendment to
Credit Agreement dated August 1, 2009 (collectively, with this Amendment, the
“Credit Agreement”) under which the Banks agreed to extend certain financial
accommodations to the Borrower.
 
B.           At the request of the Borrower, the Banks have agreed to extend the
maturity date of the Revolving Line of Credit Loan in accordance with the terms
and conditions set forth in this Amendment.
 
AGREEMENT
 
NOW THEREFORE, in consideration of the premises herein contained, and for other
good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:
 
1.           Amendment to Credit Agreement.  As of the Effective Date the
following definition as used in the Loan Documents is amended and restated as
follows:
 
“Revolving Line of Credit Loan Maturity Date” means March 31, 2010.
 
2.           Effect on Credit Agreement.  Except as expressly amended by this
Amendment, all of the terms of the Credit Agreement shall be unaffected by this
Amendment and shall remain in full force and effect.  Except as expressly set
forth herein, nothing contained in this Amendment shall be deemed to constitute
a waiver of any rights of the Banks or to affect, modify, or impair any of the
rights of the Banks as provided in the Credit Agreement.
 
3.           Conditions Precedent to Effectiveness of this Amendment.  The
obligations of the Banks hereunder are subject to the conditions precedent that
the Agent shall have received the following, in form and substance satisfactory
to the Agent:
 

 
 
 

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Execution Copy
 

a.           this Amendment duly executed by the Borrower, the Agent, and the
Banks;
 
b.           all other documents, instruments, or agreements required to be
delivered to the Agent under the Credit Agreement and not previously delivered
to the Agent.
 
4.           Representations and Warranties of Borrower.  The Borrower hereby
agrees with, reaffirms, and acknowledges as follows:
 
a.           The execution, delivery and performance by the Borrower of this
Amendment and all associated Loan Documents are within the Borrower’s power,
have been duly authorized by all necessary action, and do not
contravene:  (i) the articles of organization or operating agreement of the
Borrower; or (ii) any law or any contractual restriction binding on or affecting
the Borrower; and do not result in or require the creation of any lien, security
interest or other charge or encumbrance (other than pursuant to the terms
thereof) upon or with respect to any of its properties;
 
b.           This Amendment is, and each other Loan Document to which the
Borrower is a party when delivered will be, legal, valid and binding obligations
of the Borrower enforceable against the Borrower in accordance with their
respective terms, except as may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium, or similar laws affecting the enforcement of
creditor’s rights generally and by general principles of equity; and
 
c.           All other representations and warranties contained in the Credit
Agreement and the other Loan Documents are true and correct and in full force
and effect.
 
5.           Counterparts.  It is understood and agreed that this Amendment may
be executed in several counterparts, each of which shall, for all purposes, be
deemed an original, and all of such counterparts, taken together, shall
constitute one and the same agreement, even though all of the parties hereto may
not have executed the same counterpart of this Amendment.  Electronic delivery
of an executed counterpart of a signature page to this Amendment shall be
effective as delivery of an original executed counterpart to this Amendment.
 
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed
by their respective officers and duly authorized, as of the date first above
written,
 
[SIGNATURE PAGE TO IMMEDIATELY FOLLOW THIS PAGE]
 

                                                                    
 
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Execution Copy
 

SIGNATURE PAGE TO
 
SIXTH AMENDMENT TO CREDIT AGREEMENT
 
BY AND BETWEEN
 
SOUTHWEST IOWA RENEWABLE ENERGY, LLC,
 
AGSTAR FINANCIAL SERVICES, PCA (AS AGENT), AND
 
THE BANKS
 
Dated to be effective as of December 18, 2009
 

SOUTHWEST IOWA RENEWABLE ENERGY, LLC,
an Iowa limited liability company

 

 By :     /s/ Brian T. Cahill     Brian T. Cahill     Its:  General Manager  

 

 

By :     /s/ Karol King     Karol King     Its:  Board Chairman

    

                                                                    
 
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Execution Copy
 

SIGNATURE PAGE TO
 
SIXTH AMENDMENT TO CREDIT AGREEMENT
 
BY AND BETWEEN
 
SOUTHWEST IOWA RENEWABLE ENERGY, LLC,
 
AGSTAR FINANCIAL SERVICES, PCA (AS AGENT), AND
 
THE BANKS
 
Dated to be effective as of December 18, 2009
 

AGENT:

AGSTAR FINANCIAL SERVICES, PCA,
as Administrative Agent

/s/ Ron Monson   By:  Ron Monson   Its:  Vice President

 

 
AGSTAR:
as a Bank

AGSTAR FINANCIAL SERVICES, PCA,
 
 

/s/ Ron Monson   By:  Ron Monson   Its:  Vice President

                                                                   
 
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Execution Copy
 

SIGNATURE PAGE TO
 
SIXTH AMENDMENT TO CREDIT AGREEMENT
 
BY AND BETWEEN
 
SOUTHWEST IOWA RENEWABLE ENERGY, LLC,
 
AGSTAR FINANCIAL SERVICES, PCA (AS AGENT), AND
 
THE BANKS
 
Dated to be effective as of December 18, 2009
 

METROPOLITAN LIFE INSURANCE COMPANY,
as a Bank
 
 

/s/ Steven D. Craig   By:  Steven D. Craig   Its:  Director

Address:                8717 West 100th Street, Suite 700
Overland Park, KS  66210-2101

                                                                   
 
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Execution Copy
 

SIGNATURE PAGE TO
 
SIXTH AMENDMENT TO CREDIT AGREEMENT
 
BY AND BETWEEN
 
SOUTHWEST IOWA RENEWABLE ENERGY, LLC,
 
AGSTAR FINANCIAL SERVICES, PCA (AS AGENT), AND
 
THE BANKS
 
Dated to be effective as of December 18, 2009
 

METLIFE BANK, N.A.,
as a Bank

/s/ Steven D. Craig   By:  Steven D. Craig   Its:  Assistant Vice President

 
 
Address:                8717 West 100th Street, Suite 700
Overland Park, KS  66210-2101

                                                                    
 
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Execution Copy
 

SIGNATURE PAGE TO
 
SIXTH AMENDMENT TO CREDIT AGREEMENT
 
BY AND BETWEEN
 
SOUTHWEST IOWA RENEWABLE ENERGY, LLC,
 
AGSTAR FINANCIAL SERVICES, PCA (AS AGENT), AND
 
THE BANKS
 
Dated to be effective as of December 18, 2009
 

COÖPERATIEVE CENTRALE RAIFFEISEN-
BOERENLEENBANK B.A., “RABOBANK
NEDERLAND”, New York Branch,
as a Bank
 

/s/ Andrew Sherman   By:  Andrew Sherman   Its:  Executive Director

 

/s/ Jeff Bliss   By:  Jeff Bliss   Its:  Executive Director

Address:                245 Park Avenue 37th Floor
New York, NY  10167

 

                                                                   
 
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Execution Copy
 

SIGNATURE PAGE TO
 
SIXTH AMENDMENT TO CREDIT AGREEMENT
 
BY AND BETWEEN
 
SOUTHWEST IOWA RENEWABLE ENERGY, LLC,
 
AGSTAR FINANCIAL SERVICES, PCA (AS AGENT), AND
 
THE BANKS
 
Dated to be effective as of December 18, 2009
 

AMARILLO NATIONAL BANK,
as a Bank

/s/ Craig L. Sanders   By:  Craig L. Sanders   Its:  Executive Vice President

 
 
Address:                P.O. Box 1
Amarillo, Texas  79105

                                                                   
 
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Execution Copy
 

SIGNATURE PAGE TO
 
SIXTH AMENDMENT TO CREDIT AGREEMENT
 
BY AND BETWEEN
 
SOUTHWEST IOWA RENEWABLE ENERGY, LLC,
 
AGSTAR FINANCIAL SERVICES, PCA (AS AGENT), AND
 
THE BANKS
 
Dated to be effective as of December 18, 2009
 

FIRST NATIONAL BANK OF OMAHA,
as a Bank
 

/s/ Fallon Savage   By:  Fallon Savage   Its:  Second Vice President

Address:                1620 Dodge Street
Omaha, NE  68197

                                                                   
 
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Execution Copy
 

SIGNATURE PAGE TO
 
SIXTH AMENDMENT TO CREDIT AGREEMENT
 
BY AND BETWEEN
 
SOUTHWEST IOWA RENEWABLE ENERGY, LLC,
 
AGSTAR FINANCIAL SERVICES, PCA (AS AGENT), AND
 
THE BANKS
 
Dated to be effective as of December 18, 2009
 

BANK OF THE WEST,
as a Bank
 

/s/ Christiana Creekpaum   By:  Christiana Creekpaum   Its:  Vice President

Address:                Special Assets Department
1450 Treat Blvd.
Walnut Creek, CA  94597

 

                                                                    
 
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Execution Copy
 

SIGNATURE PAGE TO
 
SIXTH AMENDMENT TO CREDIT AGREEMENT
 
BY AND BETWEEN
 
SOUTHWEST IOWA RENEWABLE ENERGY, LLC,
 
AGSTAR FINANCIAL SERVICES, PCA (AS AGENT), AND
 
THE BANKS
 
Dated to be effective as of December 18, 2009
 

MONUMENTAL LIFE INSURANCE COMPANY,
as a Bank

/s/ Stephen Noonan   By:  Stephen Noonan   Its:  Vice President

Address:               400 West Market Street
5th Floor
Louisville, KY  40202

                                                                   
 
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Execution Copy
 

SIGNATURE PAGE TO
 
SIXTH AMENDMENT TO CREDIT AGREEMENT
 
BY AND BETWEEN
 
SOUTHWEST IOWA RENEWABLE ENERGY, LLC,
 
AGSTAR FINANCIAL SERVICES, PCA (AS AGENT), AND
 
THE BANKS
 
Dated to be effective as of December 18, 2009
 

M & I MARSHALL & ILSLEY BANK,
as a Bank
 
 

/s/ Gary Sloan   By:  Gary Sloan   Its:  SVP

/s/ Todd Senger   By:  Todd Senger   Its:  SVP

 
Address:                770 North Water Street
Milwaukee, WI  53202

                                                                   
 
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