Term Loan Supplement dated June 20, 2011



 Exhibit 10.10 
 TERM LOAN SUPPLEMENT 
 THIS SUPPLEMENT to the Master Loan Agreement
dated June 20, 2011 (the “MLA”), is entered into as of June 20, 2011 between FARM CREDIT SERVICES OF AMERICA, FLCA (“Farm Credit”) and GREEN PLAINS SUPERIOR LLC, Superior, Iowa (the
“Company”), and amends and restates the Supplement dated March 15, 2007, as amended and numbered RI0470T01. 

SECTION 1. The Term Loan Commitment. On the terms and conditions set forth in the MLA and this Supplement, Farm Credit agrees to
make loans to the Company from time to time during the period set forth below in an aggregate principal amount not to exceed $23,500,000.00 (the “Commitment”). Under the Commitment, amounts borrowed and later repaid may not be reborrowed.

 SECTION 2. Purpose. The purpose of the Commitment was and remains to partially finance the Company’s construction
of a 50 undenatured million gallon (annual) dry mill ethanol plant, (the “Improvements”) on real property owned by the Company near Superior, Iowa (the “Property”). 

SECTION 3. Term. Intentionally Omitted. 
 SECTION 4. Interest. The Company agrees to pay interest on the unpaid balance of the loan(s) in accordance with one or more of the following interest rate options, as selected by the Company:

 (A) One-Month LIBOR Index Rate. At a rate (rounded upward to the nearest 1/100th and adjusted for reserves required on
“Eurocurrency Liabilities” [as hereinafter defined] for banks subject to “FRB Regulation D” [as hereinafter defined] or required by any other federal law or regulation) per annum equal at all times to 4.35% above the rate
quoted by the British Bankers Association (the “BBA”) at 11:00 a.m. London time for the offering of one (1)-month U.S. dollars deposits, as published by Bloomberg or another major information vendor listed on BBA’s official website on
the first “U.S. Banking Day” (as hereinafter defined) in each week, with such rate to change weekly on such day. The rate shall be reset automatically, without the necessity of notice being provided to the Company or any other party, on
the first “U.S. Banking Day” of each succeeding week, and each change in the rate shall be applicable to all balances subject to this option. Information about the then-current rate shall be made available upon telephonic request. For
purposes hereof: (1) “U.S. Banking Day” shall mean a day on which Agent (as that term is defined in the MLA) is open for business and banks are open for business in New York, New York; (2) “Eurocurrency Liabilities”
shall have the meaning as set forth in “FRB Regulation D”; and (3) “FRB Regulation D” shall mean Regulation D as promulgated by the Board of Governors of the Federal Reserve System, 12 CFR Part 204, as amended. 

(B) Quoted Rate. At a fixed rate per annum to be quoted by Agent in its sole discretion in each instance. Under this option, rates
may be fixed on such balances and for such periods, as may be agreeable to Agent in its sole discretion in each instance, provided that: (1) the minimum fixed period shall be 180 days; (2) amounts may be fixed in increments of $100,000.00
or multiples thereof; and (3) the maximum number of fixes in place at any one time shall be five. 
 The Company shall select the
applicable rate option at the time it requests a loan hereunder and may, subject to the limitations set forth above, elect to convert balances bearing interest at the variable rate option to one of the fixed rate options. Upon the expiration of any
fixed rate period, interest shall automatically accrue at the variable rate option unless the amount fixed is repaid or fixed for an additional period in accordance with the terms hereof. Notwithstanding the foregoing, rates may not be fixed for








 
periods expiring after the maturity date of the loans and rates may not be fixed in such a manner as to cause the Company to have to break any fixed rate balance in order to pay any installment
of principal. All elections provided for herein shall be made telephonically or in writing and must be received by 12:00 Noon Company’s local time. Interest shall be calculated on the actual number of days each loan is outstanding on the basis
of a year consisting of 360 days and shall be payable monthly in arrears by the 20th day of the following month or on such other day in such month as Agent shall require in a written notice to the Company. 

SECTION 5. Promissory Note. The Company promises to repay the loans as follows: (1) in sixteen equal, consecutive quarterly
installments of $1,375,000.00, with the first such installment due on July 20, 2011, and the last such installment due on April 20, 2015; and (2) followed by a final installment in an amount equal to the remaining unpaid principal
balance of the loans on July 20, 2015. If any installment due date is not a day on which Agent is open for business, then such installment shall be due and payable on the next day on which Agent is open for business. In addition to the above,
the Company promises to pay interest on the unpaid principal balance hereof at the times and in accordance with the provisions set forth in Section 4 hereof. This note replaces and supersedes, but does not constitute payment of the indebtedness
evidenced by, the promissory note set forth in the Supplement being amended and restated hereby. 
 In addition, the Company shall also, within
ninety (90) days after the end of fiscal year, make a special payment of an amount equal to 75% of the “Free Cash Flow” (as defined below) of the Company; provided, however, that: (1) if such payment would result in a covenant
default under this Supplement or the MLA, the amount of the payment shall be reduced to an amount which would not result in a covenant default; (2) if such payment would result in a breakage of a fixed interest rate, the applicable broken
funding surcharges would still apply; and (3) the aggregate of such payments shall not exceed $10,000,000.00. The term “Free Cash Flow” is defined as the Company’s annual profit net of taxes, plus the respective fiscal
year’s depreciation and amortization expense, minus allowable capitalized expenditures of $600,000.00 for fixed assets, allowed distributions to members/owners, and scheduled term loan payments to Agent. This special payment shall be
applied to the principal installments in the inverse order of their maturity. 
 SECTION 6. Prepayment. Subject to the
broken funding surcharge provision of the MLA, the Company may on one Business Day’s prior written notice prepay all or any portion of the loan(s). Unless otherwise agreed by Agent, all prepayments will be applied to principal installments in
the inverse order of their maturity and to such balances, fixed or variable, as Agent shall specify. 
 SECTION 7. Security.
The Company’s obligations hereunder and, to the extent related hereto, the MLA, including without limitation any future advances under any existing mortgage or deed of trust, shall be secured as provided in the Security Section of the MLA.

 SECTION 8. Amendment Fee. In consideration of the amendment, the Company agrees to pay to Agent on the execution
hereof a fee in the amount of $20,000.00. 
 IN WITNESS WHEREOF, the parties have caused this Supplement to be executed
by their duly authorized officers as of the date shown above. 








							
	 FARM CREDIT SERVICES
 OF AMERICA, FLCA
	  	GREEN PLAINS SUPERIOR LLC
				
	 By:
	 	     /s/ Kathy L. Frahm
	  	By:	 	     /s/ Ron B. Gillis

				
	 Title:
	 	     VP Credit
	  	Title:	 	     EVP Finance, Treasurer