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Exhibit 10.1
 

[cobanklogo.jpg] 

Amendment No. 00031748SLA-C

AMENDMENT TO CREDIT AGREEMENT

THIS AMENDMENT is entered into as of December 28, 2018, between LINCOLNWAY
ENERGY, LLC Nevada, Iowa, a limited liability company (the “Borrower”), and FARM
CREDIT SERVICES OF AMERICA, FLCA and FARM CREDIT SERVICES OF AMERICA, PCA
(collectively, the “Lender”), a federally-chartered instrumentality of the
United States. Capitalized terms used and not defined herein shall have the
meanings assigned to such terms in the Agreement (as defined below).

RECITALS

The Borrower and Lender are parties to Credit Agreement Number 00031748SLA dated
as of July 3, 2017 (such agreement, as may be amended, hereinafter referred to
as the “Agreement”).  The Borrower and Lender now desire to amend the
Agreement.  For that reason, and for valuable consideration (the receipt and
sufficiency of which are hereby acknowledged), the Borrower and Lender agree as
follows:

1.          Sections 7.1 and 7.2 of Article 7 of the Agreement are amended and
restated to read as follows:

ARTICLE 7         Financial Covenants.  Unless otherwise agreed to in writing by
Agent, while this Agreement is in effect:
 

7.1         Working Capital.  The Borrower will have at the end of each period
for which financial statements are required to be furnished pursuant to this
Agreement an excess of current assets over current liabilities, of not less than
$7,500,000.00, except that in determining current assets, any amount available
under any revolving term promissory note hereunder (less the amount that would
be considered a current liability if fully advanced hereto) may be included (all
as determined in accordance with the Accounting Standards).

7.2         Net Worth.  The Borrower will have at the end of each period for
which financial statements are required to be furnished pursuant to this
Agreement an excess of total assets over total liabilities of not less than
$32,000,000.00 (all as determined in accordance with the Accounting Standards).

2.          Except as expressly amended hereby, all of the representations,
warranties, terms, covenants and conditions contained in the Agreement and each
other Loan Document shall remain unamended and otherwise unmodified and in full
force and effect.

3.          This Amendment may be executed in counterparts, each of which will
constitute an original, but all of which when taken together will constitute a
single contract.  Delivery of an executed counterpart of a signature page of
this Amendment by facsimile or other electronic means will be as effective as
delivery of a manually executed counterpart of this Amendment.

SIGNATURE PAGE FOLLOWS
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LINCOLNWAY ENERGY, LLC
Nevada, Iowa
Amendment No. 00031748SLA-C of Agreement No. 00031748SLA

SIGNATURE PAGE TO AMENDMENT TO CREDIT AGREEMENT

IN WITNESS WHEREOF, the parties hereto, by their duly authorized officers, have
executed this Agreement.

 
LINCOLNWAY ENERGY, LLC
     
By:
       
Name:
       
Title:
 

2

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LINCOLNWAY ENERGY, LLC
Nevada, Iowa
Amendment No. 00031748SLA-C of Agreement No. 00031748SLA

SIGNATURE PAGE TO AMENDMENT TO CREDIT AGREEMENT

IN WITNESS WHEREOF, the parties hereto, by their duly authorized officers, have
executed this Agreement.

 
FARM CREDIT SERVICES OF AMERICA, FLCA
     
By:
       
Name:
       
Title:
   
 
 
FARM CREDIT SERVICES OF AMERICA, PCA
     
By:
       
Name:
       
Title:
 

3

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