Exhibit 4(o)


 


FOURTH AMENDMENT OF 


LOAN AGREEMENT


 


THIS FOURTH AMENDMENT
OF LOAN AGREEMENT (“Amendment”) is entered into and effective as of the 24th day of January, 2014 among NUGEN ENERGY,
LLC, a South Dakota limited liability company (“Borrower”), FIRST NATIONAL BANK OF OMAHA in its capacities as Agent and
a Bank (“Agent”) and the Banks party to the Loan Agreement referenced below, and amends that certain Loan Agreement dated
November 1, 2011 among Borrower, the Agent and Banks (as amended, the “Loan Agreement”).


 


WHEREAS, pursuant to the
Loan Agreement, Banks extended to Borrowers the Loans described in the Loan Agreement;


 


WHEREAS, pursuant to that
certain First Amendment of Loan Agreement dated November 1, 2012, the Loan Termination Date of the Revolving Loan was extended
to May 31, 2013;


 


WHEREAS, pursuant to that
certain Second Amendment of Loan Agreement dated March 13, 2013, the Fixed Charge Coverage Ratio and Working Capital Covenant were
modified and the Loan Agreement was otherwise amended as provided for therein;


 


WHEREAS, pursuant to that
certain Third Amendment of Loan Agreement dated May 31, 2013, the Loan Termination Date of the Revolving Loan was extended to May
31, 2014;


 


WHEREAS, Borrower desires to construct two
1,100,000 bushel capacity grain bins at a cost which would exceed the $2,500,000 annual capital expenditure covenant of the Loan
Agreement, and Borrower has requested the Agent and Lenders consent to the exclusion of the construction costs of such grain bins
from the capital expenditures covenant of the Loan Agreement, and under the terms of this Amendment, Agents and Lenders have agreed;
and


 


WHEREAS, the parties desire
to amend the Loan Agreement as provided for in this Amendment.


 


NOW, THEREFORE, in consideration
of the amendments to the Loan Agreement provided for below, the mutual covenants herein and other good and valuable consideration,
the sufficiency and receipt of which is hereby acknowledged, the parties hereto agree to amend the Loan Agreement as follows:



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1. Capitalized terms used
herein shall have the meaning given to such terms in the Loan Agreement as amended in this Amendment, unless specifically defined
in this Amendment.


 


2. Section 5.4.9 of the
Loan Agreement is hereby deleted in its entirety and the following is inserted in lieu thereof:


 


5.4.9 Make,
or commit to make, capital expenditures (including the total amount of any capital leases) in an aggregate amount
exceeding $2,500,000.00 in any single fiscal year of BORROWER, nor capital expenditures not included in a ADMINISTRATIVE
AGENT approved CAPEX BUDGET; provided, however, that not more than $6,000,000 of capital expenditures from the construction
of two 1,100,000 bushel capacity grain bins at the PROJECT will be excluded from the determination of BORROWER’s capital
expenditures in BORROWER’s 2014 fiscal year. ADMINISTRATIVE AGENT hereby approves the inclusion of such grain bins in
BORROWER’s 2014 CAPEX BUDGET.


 


3. Except as modified
herein, all other terms, provisions, conditions and obligations imposed under the terms of the Loan Agreement and the other Loan
Documents shall remain in full force and effect and are hereby ratified, affirmed and certified by Borrower. Borrower hereby ratifies
and affirms the accuracy and completeness of all representations and warranties contained in the Loan Agreement and other Loan
Documents. Borrower represents and warrants to the Agent and the Banks that the representations and warranties set forth in the
Loan Agreement, and each of the other Loan Documents, are true and complete on the date hereof as if made on and as of the date
hereof (or, if any such representation or warranty is expressly stated to have been made as of a specific date, such representation
or warranty shall be true and correct as of such specific date), and as if each reference in “this Agreement” included
references to this Amendment. Borrower represents, warrants and confirms to the Agent and the Banks that no Events of Default is
now existing under the Loan Documents and that no event or condition exists which would constitute an Event of Default with the
giving of notice and/or the passage of time. Nothing contained in this Amendment either before or after giving effect thereto,
will cause or trigger an Event of Default under any Loan Document. To the extent necessary, the Loan Documents are hereby amended
consistent with the amendments provided for in this Amendment.


 


4. This Amendment may
be executed in any number of counterparts, each of which when so executed and delivered shall be deemed to be an original and all
of which counterparts, taken together, shall constitute but one and the same instrument.


 


5. This Amendment will
be governed by and construed in accordance with the laws of the State of Nebraska, exclusive of its choice of laws rules.


 


6. Borrower will comply
with all terms and conditions of this Amendment and any other documents executed pursuant hereto and will, when requested by the
Agent, execute and deliver such further documents and instruments necessary to



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consummate the transactions contemplated hereby
and shall take such other actions as may be reasonably required or appropriate to evidence or carry out the intent and purposes
of this Amendment.


 


[SIGNATURE PAGES FOLLOW]



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IN WITNESS WHEREOF, the
parties have executed and delivered this Amendment on the date first written above.


 


	 	FIRST NATIONAL BANK OF OMAHA, as Agent and as a Bank
	 	 	 
	 	By:	/s/ Blake Suing
	 	Title:	Loan Officer
	 	 	 
	 	NUGEN ENERGY, LLC, Borrower
	 	 	 
	 	By:	/s/ Aaron Riedell
	 	Title:	President and CEO




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	 	AgStar Financial Services, PCA, as a Bank
	 	 	 
	 	By:	/s/ Erik Moe
	 	 	 
	 	Title:	Director




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	 	1st Farm Credit Services, PCA, as a Bank
	 	 	 
	 	By:	/s/ Dale Richardson
	 	 	 
	 	Title:	Vice President




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	 	1st Farm Credit Services, FLCA, as a Bank
	 	 	 
	 	By:	/s/ Dale Richardson
	 	 	 
	 	Title:	Vice President




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	 	Farm Credit Services of America, PCA as a Bank
	 	 	 
	 	By:	/s/ Kathy Frahm
	 	 	 
	 	Title:	Vice President




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	 	Farm Credit Services of America, FLCA as a Bank
	 	 	 
	 	By:	/s/ Kathy Frahm
	 	 	 
	 	Title:	Vice President




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	 	Badgerland Financial, FLCA, as a Bank
	 		 
	 	By:	/s/ Ken Rue
	 	 	 
	 	Title:	Vice President




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	 	Midwest Bank of Western Illinois, as a Bank
	 	 	 
	 	By:	/s/ Brad Ray
	 	 	 
	 	Title:	Vice President




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