Execution Version

Exhibit 10.2

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SECOND AMENDMENT TO SECOND AMENDED AND RESTATED SECURITY AGREEMENT

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This Second Amendment to Second Amended and Restated Security Agreement (the
 “Amendment”) is made this 13th day of April, 2018 by and among Green Plains
Commodity Management LLC, a limited liability company formed under the laws of
the State of Delaware (“GPCM”), and each Person joined as a Debtor thereto from
time to time (each a “Debtor”, and collectively “Debtors”) and PNC BANK,
NATIONAL ASSOCIATION (“PNC”), as agent for Lenders (PNC, in such capacity, the
“Agent”).

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BACKGROUND

A.On July 28, 2017, Debtor and Agent entered into that certain Second Amended
and Restated Security Agreement (as same has been or may be amended, modified,
renewed, extended, replaced or substituted from time to time, the “Security
Agreement”) to reflect certain security arrangements between the parties
thereto.   All capitalized terms not otherwise defined herein shall have the
meaning ascribed thereto in the Security Agreement. 

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B.Debtor seeks to enter into a revolving credit facility with Macquarie Bank
Limited (“MBL”) and Macquarie Futures USA LLC (“MFUSA”), secured by, among other
collateral, certain commodity interest accounts which Debtor maintains with
MFUSA.  Therefore, Debtor has requested that Agent and Required Lenders amend
certain provisions of the Security Agreement to release their security interests
under the Security Agreement in the certain collateral and Agent is willing to
do so on the terms and conditions hereafter set forth.

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NOW THEREFORE, with the foregoing background hereinafter deemed incorporated by
reference herein and made part hereof, the parties hereto, intending to be
legally bound, promise and agree as follows:

1. Amendments to Security Agreement.  On the Effective Date, the Security
Agreement is amended as follows:

(a) Description. Section 1.1 of the Security Agreement is hereby amended by
adding, at the end thereof, the following:

Notwithstanding the foregoing provisions of this Section 1.1 or any provision to
the contrary contained herein or in any other Loan Document, the grant of a
security interest as provided herein shall not extend to, and the Collateral
shall not include or be deemed to include any of the following (collectively,
the “Excluded Property”):

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all of GPCM’s right, title and interest in, to and under:

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(1) one or more commodity interest accounts maintained by GPCM at Macquarie
Futures USA LLC (“MFUSA”) (collectively, the “Futures Account”),

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(2) all cash, securities, commodity contracts, swap agreements, investment
property, financial assets, general intangibles and other assets transferred by
GPCM to the Futures Account or otherwise held in, credited to or deposited in
the Futures Account,

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(3) all interest and distributions with respect to the Futures Account or
property therein or credited thereto, and

 

(4)   all cash and non-cash proceeds of any of the foregoing;

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provided, however, that at no time shall GPCM permit the aggregate principal
amount of Indebtedness secured by Liens on such Excluded Property to exceed
$50,000,000 (the “Excluded Property Debt Cap”); and provided further that, for
the avoidance of doubt, all parties hereto agree that (a) a failure by GPCM to
ensure that the aggregate principal amount of Indebtedness to Macquarie Bank
Limited (“MBL”) secured by such Excluded Property does not exceed the Excluded
Property Debt Cap will constitute (i) a breach by GPCM of this Agreement and
(ii) an Event of Default pursuant to Section 10.14 of the Loan Agreement and (b)
if the Excluded Property Debt Cap is exceeded pursuant to Section 1.1(a)(4)(i)
above except that GPCM shall have ten (10) days from the receipt of notice from
MBL to pay down any Indebtedness exceeding the Excluded Property Debt Cap, it
shall not be a breach by GPCM of this Agreement and shall not be an Event of
Default pursuant to Section 10.14 of the Loan Agreement if any amount exceeding
the Excluded Property Debt Cap is paid down within such ten (10) day
period.  Any breach by GPCM of this Agreement or the Loan Agreement shall not
give rise to or require (A) any liability on the part of MFUSA, MBL or any of
their Affiliates or (B) any lien or security interest in the Excluded Property
in favor of Secured Party or any other person (and this proviso shall be
enforceable by MFUSA, MBL and their Affiliates as third party beneficiaries).

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2. Representations and Warranties of Debtors.  Each Debtor hereby:

(a)reaffirms all representations and warranties made to Agent under the Security
Agreement and all of the Loan Documents and confirms that all are true and
correct in all material respects as of the date hereof (except to the extent any
such representations and warranties specifically relate to a specific date, in
which case such representations and warranties were true and correct in all
material respects on and as of such other specific date);

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(b)reaffirms all of the covenants contained in the Security Agreement (as
amended hereby), covenants to abide thereby until all Advances, Obligations and
other liabilities of Borrowers to Agent and Lenders under the Loan Agreement of
whatever nature and whenever incurred, are satisfied and/or released by Agent
and Lenders;

(c)represents and warrants that no Default or Event of Default has occurred and
is continuing under any of the Loan Documents;

(d)represents and warrants that it has the authority and legal right to execute,
deliver and carry out the terms of this Amendment, that such actions were duly
authorized by all necessary limited liability company or corporate action, as
applicable, and that the officers executing this Amendment on its behalf were
similarly authorized and empowered, and that this Amendment does not contravene
any provisions of its certificate of incorporation or formation, operating
agreement, bylaws,  or other formation documents, as applicable, or of any
contract or agreement to which it is a party or by which any of its properties
are bound; and

(e)represents and warrants that this Amendment and all assignments, instruments,
documents, and agreements executed and delivered in connection herewith, are
valid, binding and enforceable in accordance with their respective terms, except
as such enforceability may be limited by any applicable bankruptcy, insolvency,
moratorium or similar laws affecting creditors’ rights generally.

3. Conditions Precedent/Effectiveness Conditions.  This Amendment shall be
effective upon the date of satisfaction of the following conditions precedent
(“Effective Date”) (all documents to be in form and substance reasonably
satisfactory to Agent and Agent’s counsel):

(a) Agent shall have received this Amendment fully executed by each Debtor;

(b) Agent shall have received the fully executed Partial Release of Security
Interest, dated on or about the date hereof, by and among BNP Paribas, MBL,
MFUSA, GPCM and Green Plains, Inc; and

(c) Agent shall have received such other agreements, documents or information as
requested by Agent in its reasonable discretion. 

4. Further Assurances.  Each Debtor hereby agrees to take all such actions and
to execute and/or deliver to Agent all such documents, assignments, financing
statements and other documents, as Agent may reasonably require from time to
time, to effectuate and implement the terms of this Amendment.

5. Payment of Expenses.  Debtor shall pay or reimburse Agent and Lenders for
their reasonable attorneys’ fees and expenses in connection with the
preparation, negotiation and execution of this Amendment and the documents
provided for herein or related hereto.

6. Reaffirmation of Loan Agreement.  Except as modified by the terms hereof, all
of the terms and conditions of the Loan Agreement, as amended, and all other of
the Loan Documents are hereby reaffirmed and shall continue in full force and
effect as therein written.

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7. Miscellaneous. 

(a) Third Party Rights.  No rights are intended to be created hereunder for the
benefit of any third party donee, creditor, or incidental beneficiary, except as
provided herein.

(b) Headings.  The headings of any paragraph of this Amendment are for
convenience only and shall not be used to interpret any provision hereof.

(c) Modifications.  No modification hereof or any agreement referred to herein
shall be binding or enforceable unless in writing and signed on behalf of the
party against whom enforcement is sought.

(d) Governing Law.  The terms and conditions of this Amendment and all matters
relating hereto or thereto or arising herefrom (whether arising under contract
law, tort law or otherwise) shall, in accordance with Section 5-1401 of the
General Obligations Law of the State of New York, be governed by and construed
in accordance with the laws of the State of New York.

(e) Counterparts.  This Amendment may be executed in any number of and by
different parties hereto on separate counterparts, all of which, when so
executed, shall be deemed an original, but all such counterparts shall
constitute one and the same agreement.  Any signature delivered by a party by
facsimile or pdf transmission shall be deemed to be an original signature
hereto. 

 

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IN WITNESS WHEREOF, the parties have caused this Amendment to be executed and
delivered by their duly authorized officers as of the date first above written.

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Green Plains Commodity Management LLC, as Debtor

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By:/s/ Phil Boggs

Name: Phil Boggs

Title:VP Finance & Treasurer

 

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,

 

 

[SIGNATURE PAGE TO SECOND AMENDMENT TO

SECOND AMENDED AND RESTATED SECURITY AGREEMENT]

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PNC BANK, NATIONAL ASSOCIATION,

as Agent and Lender

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By:/s/ James Simpson

Name: James Simpson

Title:Vice President            

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[SIGNATURE PAGE TO SECOND AMENDMENT TO

SECOND AMENDED AND RESTATED SECURITY AGREEMENT]

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Acknowledged and Agreed:

CITIBANK, N.A., as a Lender

By:/s/ Jeff Royston

Name: Jeff Royston            

Title:SVP                             

[SIGNATURE PAGE TO SECOND AMENDMENT TO

SECOND AMENDED AND RESTATED SECURITY AGREEMENT]

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Acknowledged and Agreed:

BMO HARRIS BANK N.A., as a Lender

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By:/s/ Craig Thistlethwaite

Name: Craig Thistlethwaite

Title:Managing Director            

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[SIGNATURE PAGE TO SECOND AMENDMENT TO

SECOND AMENDED AND RESTATED SECURITY AGREEMENT]

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Acknowledged and Agreed:

FIRST TENNESSEE BANK NATIONAL ASSOCIATION, as a Lender

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By:/s/ William J. Paul      

Name: William J. Paul

Title:Senior Vice President          

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[SIGNATURE PAGE TO SECOND AMENDMENT TO

SECOND AMENDED AND RESTATED SECURITY AGREEMENT]

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Acknowledged and Agreed:

WOODFOREST NATIONAL BANK, as a Lender

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By:/s/ Dennis Kujawa

Name: Dennis Kujawa

Title:First Vice President            

[SIGNATURE PAGE TO SECOND AMENDMENT TO

SECOND AMENDED AND RESTATED SECURITY AGREEMENT]

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Acknowledged and Agreed:

BANK OF AMERICA, N.A., as a Lender

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By:/s/ Charles Fairchild

Name: Charles Fairchild

Title:Senior Vice President            

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[SIGNATURE PAGE TO SECOND AMENDMENT TO

SECOND AMENDED AND RESTATED SECURITY AGREEMENT]

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