AND THE SAME, TOGETHER
WITH INTEREST THEREON AT THE DEFAULT RATE, SHALL BE SECURED BY THE LIEN OF THE
LOAN DOCUMENTS AND SHALL BE PAYABLE BY BORROWER ON DEMAND.
9.3
LENDER MAY PERFORM OBLIGATIONS; FURTHER ASSURANCES.
UPON THE
OCCURRENCE AND DURING THE CONTINUANCE OF AND EVENT OF DEFAULT, BORROWER SHALL
PERMIT LENDER, IF LENDER SO ELECTS IN ITS SOLE DISCRETION, TO PAY OR PERFORM
BORROWER'S OBLIGATIONS HEREUNDER OR UNDER THE OTHER LOAN DOCUMENTS AND TO
REIMBURSE LENDER, ON DEMAND, OR, IF LENDER SO ELECTS, BY LENDER MAKING EITHER
(I) AN ADVANCE AGAINST THE LOAN ON BORROWER'S BEHALF OR (II) DEBITING ANY
ACCOUNT MAINTAINED BY BORROWER WITH LENDER FOR ANY AND ALL FEES AND CHARGES DUE
HEREUNDER, INCLUDING, WITHOUT LIMITATION, THE ACCOUNTS ESTABLISHED BY BORROWER
WITH LENDER PURSUANT TO THIS
75
AGREEMENT, FOR ALL AMOUNTS EXPENDED BY OR ON BEHALF OF LENDER IN CONNECTION
THEREWITH AND ALL REASONABLE COSTS AND EXPENSES INCURRED BY OR ON BEHALF OF
LENDER IN CONNECTION THEREWITH.
SECTION 10.
GENERAL CONDITIONS.
The following conditions shall be applicable throughout the terms of this
Agreement:
10.1
NO WAIVER.
NO ADVANCE UNDER ANY OF THE LOANS
SHALL CONSTITUTE A WAIVER OF ANY OF THE OBLIGATIONS SET FORTH HEREIN, NOR, IN
THE EVENT BORROWER IS UNABLE TO SATISFY ANY SUCH CONDITION, SHALL ANY SUCH
WAIVER HAVE THE EFFECT OF PRECLUDING LENDER FROM THEREAFTER DECLARING SUCH
INABILITY TO BE AN EVENT OF DEFAULT AS HEREINAFTER PROVIDED.
10.2
FORM SATISFACTORY.
NOT IN ANY WAY IN LIMITATION
OF ANY OTHER PROVISION OF THIS AGREEMENT, ALL PROCEEDINGS TAKEN IN CONNECTION
WITH THE TRANSACTIONS PROVIDED HEREIN, ALL DOCUMENTS REQUIRED OR CONTEMPLATED BY
THIS AGREEMENT, THE DESIGNATION OF THE PERSONS RESPONSIBLE FOR THE PREPARATION
AND EXECUTION THEREOF, AND THE FORM OF POLICIES OF INSURANCE AND THE ISSUERS
THEREOF SHALL BE REASONABLY SATISFACTORY TO LENDER.
10.3
NOTICES.
ANY NOTICE, REQUEST, DEMAND, CONSENT,
CONFIRMATION OR OTHER COMMUNICATION HEREUNDER SHALL BE IN WRITING AND DELIVERED
(I)
IN PERSON, BY MESSENGER OR OVERNIGHT COURIER, (II) BY REGISTERED OR
CERTIFIED MAIL, RETURN RECEIPT REQUESTED AND POSTAGE PREPAID, OR (III) BY
FACSIMILE, TO THE APPLICABLE PARTY AT ITS ADDRESS OR FACSIMILE NUMBER SET FORTH
BELOW, OR AT SUCH OTHER ADDRESS OR FACSIMILE NUMBER AS SUCH PARTY HEREAFTER MAY
DESIGNATE AS ITS ADDRESS FOR COMMUNICATIONS HEREUNDER BY NOTICE SO GIVEN.
If to Borrower:
Blackhawk Biofuels, LLC
22 South Chicago Avenue
Freeport, IL
61032-4230
Attention:
Ronald L. Mapes, Chair
Facsimile:
(815) 235-4727
and also:
Lindquist & Vennum PLLP
4200 IDS Center
80 South Eighth Street
Minneapolis, MN
55402-2274
Attention:
Dean R. Edstrom, Esq.
Facsimile:
(612) 371-3207
and also:
Renewable Energy Group, Inc.
416 S. Bell Avenue
PO Box 888
Ames, Iowa 50010
Attention: Jeffrey Stroburg
Facsimile: (515) 239-8009
and also:
Nyemaster, Goode, West, Hansell & O'Brien, PC
700 Walnut Street, Suite 1600
76
Des Moines, Iowa 50309-3899
Attention: Rick Neumann
Facsimile No.: (515) 283-3108
If to Lender:
Fifth Third Bank
8000 Maryland Avenue, Suite 1400
St. Louis, Missouri 63105
Attention: Shawn Hagan and Mary Ann Lemonds
Facsimile No.: (314) 889-3377
and also:
Husch