Document:

February 24, 2014 Exhibit 10.2

    EXHIBIT 10.2

REVOLVING LINE OF CREDIT NOTE 

	
$4,000,000.00
	
San Francisco, California

                February 1, 2014

FOR VALUE RECEIVED, the undersigned S&W SEED COMPANY ("Borrower") promises to pay to the order of WELLS FARGO
BANK, NATIONAL ASSOCIATION ("Bank") at its office at MAC A0195-213, 1 Front Street, 21st Floor, San Francisco,
California 94111, or at such other place as the holder hereof may designate, in lawful money of the United States of America and in
immediately available funds, the principal sum of Four Million Dollars ($4,000,000.00), or so much thereof as may be advanced and be
outstanding, with interest thereon, to be computed on each advance from the date of its disbursement as set forth herein. 

DEFINITIONS: 

As used herein, the following terms shall have the meanings set forth after each, and any other term defined in this Note shall have the
meaning set forth at the place defined: 

(a)"Business Day" means any day except a Saturday, Sunday or any other day on which commercial banks in California are
authorized or required by law to close. 

(b)"Daily One Month LIBOR" means, for any day, the rate of interest equal to LIBOR then in effect for delivery for a one (1) month
period. 

(c)"Fixed Rate Term" means a period commencing on a Business Day and continuing for one (1) month, as designated by Borrower,
during which all or a portion of the outstanding principal balance of this Note bears interest determined in relation to LIBOR; provided however,
that no Fixed Rate Term may be selected for a principal amount less than One Hundred Thousand Dollars ($100,000.00); and provided
further, that no Fixed Rate Term shall extend beyond the scheduled maturity date hereof. If any Fixed Rate Term would end on a day which is
not a Business Day, then such Fixed Rate Term shall be extended to the next succeeding Business Day. 

(d)"LIBOR" means the rate per annum (rounded upward, if necessary, to the nearest whole 1/8 of 1%) and determined pursuant to the
following formula:

        LIBOR =           Base LIBOR        

                         100% - LIBOR Reserve Percentage

(i)"Base LIBOR" means the rate per annum for United States dollar deposits quoted by Bank (A) for the purpose of calculating
effective rates of interest for loans making reference to LIBOR, as the Inter-Bank Market Offered Rate, with the understanding that such rate is
quoted by Bank for the purpose of calculating effective rates of interest for loans making reference thereto, on the first day of a Fixed Rate
Term for delivery of funds on said date for a period of time approximately equal to the number of days in such Fixed Rate Term and in an
amount approximately equal to the principal amount to which such Fixed Rate Term applies, or (B) for the purpose of calculating effective rates
of interest for loans making reference to the Daily One Month LIBOR Rate, as the Inter-Bank Market Offered Rate in effect from time to time

                                                       -1-

for delivery of funds for one (1) month in amounts approximately equal to the principal amount of such loans. Borrower understands and agrees
that Bank may base its quotation of the Inter-Bank
Market Offered Rate upon such offers or other market indicators of the Inter-Bank Market as Bank in its discretion deems appropriate
including, but not limited to, the rate offered for U.S. dollar deposits on the London Inter-Bank Market. 

(ii)"LIBOR Reserve Percentage" means the reserve percentage prescribed by the Board of Governors of the Federal Reserve System
(or any successor) for "Eurocurrency Liabilities" (as defined in Regulation D of the Federal Reserve Board, as amended), adjusted by Bank for
expected changes in such reserve percentage during the applicable term of this Note. 

INTEREST: 

(a)Interest. The outstanding principal balance of this Note shall bear interest (computed on the basis of a 360-day year,
actual days elapsed) either (i) at a fluctuating rate per annum determined by Bank to be two and one quarter percent (2.25%) above the Daily
One Month LIBOR Rate in effect from time to time, or (ii) at a fixed rate per annum determined by Bank to be two and one quarter percent
(2.25%) above LIBOR in effect on the first day of the applicable Fixed Rate Term. When interest is determined in relation to the Daily One
Month LIBOR Rate, each change in the interest rate shall become effective each Business Day that the Bank determines that the Daily One
Month LIBOR Rate has changed. Bank is hereby authorized to note the date, principal amount and interest rate applicable thereto and any
payments made thereon on Bank's books and records (either manually or by electronic entry) and/or on any schedule attached to this Note,
which notations shall be prima facie evidence of the accuracy of the information noted. 

(b)Selection of Interest Rate Options. At any time any portion of this Note bears interest determined in relation to LIBOR for a
Fixed Rate Term, it may be continued by Borrower at the end of the Fixed Rate Term applicable thereto so that all or a portion thereof bears
interest determined in relation to the Daily One Month LIBOR Rate or to LIBOR for a new Fixed Rate Term designated by Borrower. At any
time any portion of this Note bears interest determined in relation to the Daily One Month LIBOR Rate, Borrower may at any time convert all or
a portion thereof so that it bears interest determined in relation to LIBOR for a Fixed Rate Term designated by Borrower. At such time as
Borrower requests an advance hereunder or wishes to select an interest rate determined in relation to the Daily One Month LIBOR Rate or a
Fixed Rate Term for all or a portion of the outstanding principal balance hereof, and at the end of each Fixed Rate Term, Borrower shall give
Bank notice specifying: (i) the interest rate option selected by Borrower; (ii) the principal amount subject thereto; and (iii) for each LIBOR
selection for a Fixed Rate Term, the length of the applicable Fixed Rate Term. Any such notice may be given by telephone (or such other
electronic method as Bank may permit) so long as, with respect to each LIBOR selection for a Fixed Rate Term, (A) if requested by Bank,
Borrower provides to Bank written confirmation thereof not later than three (3) Business Days after such notice is given, and (B) such notice is
given to Bank prior to 10:00 a.m. on the first day of the Fixed Rate Term, or at a later time during any Business Day if Bank, at its sole option
but without obligation to do so, accepts Borrower's notice and quotes a fixed rate to Borrower. If Borrower does not immediately accept a fixed
rate when quoted by Bank, the quoted rate shall expire and any subsequent LIBOR request from Borrower shall be subject to a
redetermination by Bank of the applicable fixed rate. If no specific designation of interest is made at the time any advance is requested
hereunder or at the end of any Fixed Rate Term, Borrower shall be deemed to have made a Daily One Month LIBOR Rate interest selection
for such advance or the principal amount to which such Fixed Rate Term applied. 

                                                       -2-

(c)Taxes and Regulatory Costs. Borrower shall pay to Bank immediately upon demand, in addition to any other amounts due
or to become due hereunder, any and all (i) withholdings, interest equalization taxes, stamp taxes or other taxes (except income and franchise
taxes) imposed by any domestic or foreign governmental authority and related in any manner to LIBOR, and (ii) future, supplemental,
emergency or other changes in the LIBOR Reserve Percentage, assessment rates imposed by the Federal Deposit Insurance Corporation, or
similar requirements or costs imposed by any domestic or foreign governmental authority or resulting from compliance by Bank with any
request or directive (whether or not having the force of law) from any central bank or other governmental authority and related in any manner
to LIBOR to the extent they are not included in the calculation of LIBOR. In determining which of the foregoing are attributable to any LIBOR
option available to Borrower hereunder, any reasonable allocation made by Bank among its operations shall be conclusive and binding upon
Borrower. 

(d)Payment of Interest. Interest accrued on this Note shall be payable on the first day of each month, commencing April 1,
2014. 

(e)Default Interest. From and after the maturity date of this Note, or such earlier date as all principal owing hereunder
becomes due and payable by acceleration or otherwise, or at Bank's option upon the occurrence, and during the continuance of an Event of
Default, the outstanding principal balance of this Note shall bear interest at an increased rate per annum (computed on the basis of a 360-day
year, actual days elapsed) equal to four percent (4%) above the rate of interest from time to time applicable to this Note. 

BORROWING AND REPAYMENT: 

(a)Borrowing and Repayment. Borrower may from time to time during the term of this Note borrow, partially or wholly repay
its outstanding borrowings, and reborrow, subject to all of the limitations, terms and conditions of this Note and of any document executed in
connection with or governing this Note; provided however, that the total outstanding borrowings under this Note shall not at any time exceed
the principal amount stated above. The unpaid principal balance of this obligation at any time shall be the total amounts advanced hereunder
by the holder hereof less the amount of principal payments made hereon by or for Borrower, which balance may be endorsed hereon from time
to time by the holder. The outstanding principal balance of this Note shall be due and payable in full on April 1, 2015. 

(b)Advances. Advances hereunder, to the total amount of the principal sum stated above, may be made by the holder at the
oral or written request of (i) Mark S. Grewal or Matthew K. Szot, any one acting alone, who are authorized to request advances and direct the
disposition of any advances until written notice of the revocation of such authority is received by the holder at the office designated above, or
(ii) any person, with respect to advances deposited to the credit of any deposit account of Borrower, which advances, when so deposited, shall
be conclusively presumed to have been made to or for the benefit of Borrower regardless of the fact that persons other than those authorized
to request advances may have authority to draw against such account. The holder shall have no obligation to determine whether any person
requesting an advance is or has been authorized by Borrower. 

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(c)Application of Payments. Each payment made on this Note shall be credited first, to any interest then due and second, to
the outstanding principal balance hereof. All payments credited to principal shall be applied first, to the outstanding principal balance of this
Note which bears interest determined in relation to the Daily One Month LIBOR Rate, if any, and second, to the outstanding principal balance
of this Note which bears interest determined in relation to LIBOR, with such payments applied to the oldest Fixed Rate Term first. 

PREPAYMENT: 

(a)Daily One Month LIBOR Rate. Borrower may prepay principal on any portion of this Note which bears interest determined
in relation to the Daily One Month LIBOR Rate at any time, in any amount and without penalty. 

(b)LIBOR. Borrower may prepay principal on any portion of this Note which bears interest determined in relation to LIBOR at
any time and in the minimum amount of One Hundred Thousand Dollars ($100,000.00); provided however, that if the outstanding principal
balance of such portion of this Note is less than said amount, the minimum prepayment amount shall be the entire outstanding principal
balance thereof. In consideration of Bank providing this prepayment option to Borrower, or if any such portion of this Note shall become due
and payable at any time prior to the last day of the Fixed Rate Term applicable thereto by acceleration or otherwise, Borrower shall pay to
Bank immediately upon demand a fee which is the sum of the discounted monthly differences for each month from the month of prepayment
through the month in which such Fixed Rate Term matures, calculated as follows for each such month: 

(i)Determine the amount of interest which would have accrued each month on the amount prepaid at the interest rate
applicable to such amount had it remained outstanding until the last day of the Fixed Rate Term applicable thereto. 

(ii)Subtract from the amount determined in (i) above the amount of interest which would have accrued for the same month on
the amount prepaid for the remaining term of such Fixed Rate Term at LIBOR in effect on the date of prepayment for new loans made for such
term and in a principal amount equal to the amount prepaid. 

(iii)If the result obtained in (ii) for any month is greater than zero, discount that difference by LIBOR used in (ii) above. 

Borrower acknowledges that prepayment of such amount may result in Bank incurring additional costs, expenses and/or liabilities, and that
it is difficult to ascertain the full extent of such costs, expenses and/or liabilities. Borrower, therefore, agrees to pay the above-described
prepayment fee and agrees that said amount represents a reasonable estimate of the prepayment costs, expenses and/or liabilities of Bank. If
Borrower fails to pay any prepayment fee when due, the amount of such prepayment fee shall thereafter bear interest until paid at a rate per
annum four percent (4%) above the Daily One Month LIBOR Rate in effect from time to time (computed on the basis of a 360-day year, actual
days elapsed). 

                                                       -4-

EVENTS OF DEFAULT: 

This Note is made pursuant to and is subject to the terms and conditions of that certain Credit Agreement between Borrower and Bank
dated as of February 1, 2014, as amended from time to time (the "Credit Agreement"). Any default in the payment or performance of any
obligation under this Note, or any defined event of default under the Credit Agreement, shall constitute an "Event of Default" under this Note.

MISCELLANEOUS: 

(a)Remedies. Upon the occurrence of any Event of Default, the holder of this Note, at the holder's option, may declare all
sums of principal and interest outstanding hereunder to be immediately due and payable without presentment, demand, notice of
nonperformance, notice of protest, protest or notice of dishonor, all of which are expressly waived by Borrower, and the obligation, if any, of the
holder to extend any further credit hereunder shall immediately cease and terminate. Borrower shall pay to the holder immediately upon
demand the full amount of all payments, advances, charges, costs and expenses, including reasonable attorneys' fees (to include outside
counsel fees and all allocated costs of the holder's in-house counsel), expended or incurred by the holder in connection with the enforcement
of the holder's rights and/or the collection of any amounts which become due to the holder under this Note, and the prosecution or defense of
any action in any way related to this Note, including without limitation, any action for declaratory relief, whether incurred at the trial or appellate
level, in an arbitration proceeding or otherwise, and including any of the foregoing incurred in connection with any bankruptcy proceeding
(including without limitation, any adversary proceeding, contested matter or motion brought by Bank or any other person) relating to Borrower
or any other person or entity. 

(b)Obligations Joint and Several. Should more than one person or entity sign this Note as a Borrower, the obligations of each
such Borrower shall be joint and several. 

(c)Governing Law. This Note shall be governed by and construed in accordance with the laws of the State of California. 

IN WITNESS WHEREOF, the undersigned has executed this Note as of the date first written above. 

S&W SEED COMPANY 

By: /s/ Matthew K. Szot        

     Matthew K. Szot, Senior Vice President,

      Chief Financial Officer

   

                                                       -5-February 24, 2014 Exhibit 10.3

    EXHIBIT 10.3

CONTINUING SECURITY AGREEMENT:

                  RIGHTS TO PAYMENT AND INVENTORY

1.GRANT OF SECURITY INTEREST. For valuable consideration, the undersigned S&W SEED COMPANY, or any of them
("Debtor"), hereby grants and transfers to WELLS FARGO BANK, NATIONAL ASSOCIATION ("Bank") a security interest in all accounts,
deposit accounts, chattel paper (whether electronic or tangible), instruments, promissory notes, documents, general intangibles, payment
intangibles, software, letter of credit rights, health-care insurance receivables and other rights to payment (collectively called "Rights to
Payment"), now existing or at any time hereafter, and prior to the termination hereof, arising (whether they arise from the sale, lease or other
disposition of inventory or from performance of contracts for service, manufacture, construction, repair or otherwise or from any other source
whatsoever), including all securities, guaranties, warranties, indemnity agreements, insurance policies, supporting obligations and other
agreements pertaining to the same or the property described therein, and in all goods returned by or repossessed from Debtor's customers,
together with a security interest in all inventory, goods held for sale or lease or to be furnished under contracts for service, goods so leased or
furnished, raw materials, component parts and embedded software, work in process or materials used or consumed in Debtor's business and all
warehouse receipts, bills of lading and other documents evidencing goods owned or acquired by Debtor, and all goods covered thereby, now or
at any time hereafter, and prior to the termination hereof, owned or acquired by Debtor, wherever located, and all products thereof (collectively
called "Inventory"), whether in the possession of Debtor, warehousemen, bailees or any other person, or in process of delivery, and whether
located at Debtor's places of business or elsewhere (with all Rights to Payment and Inventory referred to herein collectively as the "Collateral"),
together with whatever is receivable or received when any of the Collateral or proceeds thereof are sold, leased, collected, exchanged or
otherwise disposed of, whether such disposition is voluntary or involuntary, including without limitation, all Rights to Payment, including returned
premiums, with respect to any insurance relating to any of the foregoing, and all Rights to Payment with respect to any claim or cause of action
affecting or relating to any of the foregoing (hereinafter called "Proceeds"). 

2.OBLIGATIONS SECURED. The obligations secured hereby are the payment and performance of: (a) all present and future
Indebtedness of Debtor to Bank; (b) all obligations of Debtor and rights of Bank under this Agreement; and (c) all present and future obligations
of Debtor to Bank of other kinds. The word "Indebtedness" is used herein in its most comprehensive sense and includes any and all advances,
debts, obligations and liabilities of Debtor, or any of them, heretofore, now or hereafter made, incurred or created, whether voluntary or
involuntary and however arising, whether due or not due, absolute or contingent, liquidated or unliquidated, determined or undetermined,
including under any swap, derivative, foreign exchange, hedge, deposit, treasury management or other similar transaction or arrangement, and
whether Debtor may be liable individually or jointly with others, or whether recovery upon such Indebtedness may be or hereafter becomes
unenforceable. 

3.TERMINATION. This Agreement will terminate upon the performance of all obligations of Debtor to Bank, including without limitation,
the payment of all Indebtedness of Debtor to Bank, and the termination of all commitments of Bank to extend credit to Debtor, existing at the
time Bank receives written notice from Debtor of the termination of this Agreement. 

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4.OBLIGATIONS OF BANK. Bank has no obligation to make any loans hereunder. Any money received by Bank in respect of the
Collateral may be deposited, at Bank's option, into a non-interest bearing account over which Debtor shall have no control, and the same shall,
for all purposes, be deemed Collateral hereunder. 

5.REPRESENTATIONS AND WARRANTIES. Debtor represents and warrants to Bank that: (a) Debtor's legal name is exactly as set
forth on the first page of this Agreement, and all of Debtor's organizational documents or agreements delivered to Bank are complete and
accurate in every respect; (b) Debtor is the owner and has possession or control of the Collateral and Proceeds; (c) Debtor has the exclusive
right to grant a security interest in the Collateral and Proceeds; (d) all Collateral and Proceeds are genuine, free from liens, adverse claims,
setoffs, default, prepayment, defenses and conditions precedent of any kind or character, except the lien created hereby or as otherwise agreed
to by Bank, or as heretofore disclosed by Debtor to Bank, in writing; (e) all statements contained herein and, where applicable, in the Collateral
are true and complete in all material respects; (f) no financing statement covering any of the Collateral or Proceeds, and naming any secured
party other than Bank, is on file in any public office; (g) all persons appearing to be obligated on Rights to Payment and Proceeds have authority
and capacity to contract and are bound as they appear to be; (h) all property subject to chattel paper has been properly registered and filed in
compliance with law and to perfect the interest of Debtor in such property; and (i) all Rights to Payment and Proceeds comply with all applicable
laws concerning form, content and manner of preparation and execution, including where applicable Federal Reserve Regulation Z and any
State consumer credit laws. 

6.COVENANTS OF DEBTOR. 

(a)Debtor agrees in general: (i) to pay Indebtedness secured hereby when due; (ii) to indemnify Bank against all losses, claims,
demands, liabilities and expenses of every kind caused by property subject hereto; (iii) to permit Bank to exercise its powers; (iv) to execute and
deliver such documents as Bank deems necessary to create, perfect and continue the security interests contemplated hereby; (v) not to change
its name, and as applicable, its chief executive office, its principal residence or the jurisdiction in which it is organized and/or registered without
giving Bank prior written notice thereof; (vi) not to change the places where Debtor keeps any Collateral or Debtor's records concerning the
Collateral and Proceeds without giving Bank prior written notice of the address to which Debtor is moving same; and (vii) to cooperate with Bank
in perfecting all security interests granted herein and in obtaining such agreements from third parties as Bank deems necessary, proper or
convenient in connection with the preservation, perfection or enforcement of any of its rights hereunder. 

(b)Debtor agrees with regard to the Collateral and Proceeds, unless Bank agrees otherwise in writing: (i) that Bank is authorized to file
financing statements in the name of Debtor to perfect Bank's security interest in Collateral and Proceeds; (ii) to insure Inventory and, where
applicable, Rights to Payment with Bank named as loss payee, in form, substance and amounts, under agreements, against risks and liabilities,
and with insurance companies satisfactory to Bank; (iii) not to use any Inventory for any unlawful purpose or in any way that would void any
insurance required to be carried in connection therewith; (iv) not to remove Inventory from Debtor's premises except in the ordinary course of
Debtor's business; (v) not to permit any lien on the Collateral or Proceeds, including without limitation, liens arising from the storage of
Inventory, except in favor of Bank; (vi) not to sell, hypothecate or dispose of, nor permit the transfer by operation of law of, any of the Collateral
or Proceeds or any interest therein, except sales of Inventory to buyers in the ordinary course of Debtor's business; (vii) to 

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furnish reports to Bank of all acquisitions, returns, sales and other dispositions of Inventory in such form and detail and at such times as
Bank may require; (viii) to permit Bank to inspect the Collateral at any time; (ix) to keep, in accordance with generally accepted accounting
principles, complete and accurate records regarding all Collateral and Proceeds, and to permit Bank to inspect the same and make copies
thereof at any reasonable time; (x) if requested by Bank, to receive and use reasonable diligence to collect Rights to Payment and Proceeds, in
trust and as the property of Bank, and to immediately endorse as appropriate and deliver such Rights to Payment and Proceeds to Bank daily in
the exact form in which they are received together with a collection report in form satisfactory to Bank; (xi) not to commingle Rights to Payment,
Proceeds or collections thereunder with other property; (xii) to give only normal allowances and credits and to advise Bank thereof immediately
in writing if they affect any Rights to Payment or Proceeds in any material respect; (xiii) on demand, to deliver to Bank returned property
resulting from, or payment equal to, such allowances or credits on any Rights to Payment or Proceeds or to execute such documents and do
such other things as Bank may reasonably request for the purpose of perfecting, preserving and enforcing its security interest in such returned
property; (xiv) from time to time, when requested by Bank, to prepare and deliver a schedule of all Collateral and Proceeds subject to this
Agreement and to assign in writing and deliver to Bank all accounts, contracts, leases and other chattel paper, instruments, documents and
other evidences thereof; (xv) in the event Bank elects to receive payments of Rights to Payment or Proceeds hereunder, to pay all expenses
incurred by Bank in connection therewith, including expenses of accounting, correspondence, collection efforts, reporting to account or contract
debtors, filing, recording, record keeping and expenses incidental thereto; and (xvi) to provide any service and do any other acts which may be
necessary to maintain, preserve and protect all Collateral and, as appropriate and applicable, to keep all Collateral in good and saleable
condition, to deal with the Collateral in accordance with the standards and practices adhered to generally by users and manufacturers of like
property, and to keep all Collateral and Proceeds free and clear of all defenses, rights of offset and counterclaims. 

7.POWERS OF BANK. Debtor appoints Bank its true attorney in fact to perform any of the following powers, which are coupled with an
interest, are irrevocable until termination of this Agreement and may be exercised from time to time by Bank's officers and employees, or any of
them, whether or not Debtor is in default: (a) to perform any obligation of Debtor hereunder in Debtor's name or otherwise; (b) to give notice to
account debtors or others of Bank's rights in the Collateral and Proceeds, to enforce or forebear from enforcing the same and make extension or
modification agreements with respect thereto; (c) to release persons liable on Collateral or Proceeds and to give receipts and acquittances and
compromise disputes in connection therewith; (d) to release or substitute security; (e) to resort to security in any order; (f) to prepare, execute,
file, record or deliver notes, assignments, schedules, designation statements, financing statements, continuation statements, termination
statements, statements of assignment, applications for registration or like papers to perfect, preserve or release Bank's interest in the Collateral
and Proceeds; (g) to receive, open and read mail addressed to Debtor; (h) to take cash, instruments for the payment of money and other
property to which Bank is entitled; (i) to verify facts concerning the Collateral and Proceeds by inquiry of obligors thereon, or otherwise, in its
own name or a fictitious name; (j) to endorse, collect, deliver and receive payment under instruments for the payment of money constituting or
relating to Proceeds; (k) to prepare, adjust, execute, deliver and receive payment under insurance claims, and to collect and receive payment of
and endorse any instrument in payment of loss or returned premiums or any other insurance refund or return, and to apply such amounts
received by Bank, at Bank's sole option, toward repayment of the Indebtedness or replacement of the Collateral; (l) to exercise all rights, powers
and remedies which Debtor would have, but for this Agreement, with respect to all Collateral and Proceeds subject hereto; (m) to enter onto
Debtor's premises in 

                                                       -3-

inspecting the Collateral; (n) to make withdrawals from and to close deposit accounts or other accounts with any financial institution,
wherever located, into which Proceeds may have been deposited, and to apply funds so withdrawn to payment of the Indebtedness; (o) to
preserve or release the interest evidenced by chattel paper to which Bank is entitled hereunder and to endorse and deliver any evidence of title
incidental thereto; and (p) to do all acts and things and execute all documents in the name of Debtor or otherwise, deemed by Bank as
necessary, proper and convenient in connection with the preservation, perfection or enforcement of its rights hereunder. 

8.PAYMENT OF PREMIUMS, TAXES, CHARGES, LIENS AND ASSESSMENTS. Debtor agrees to pay, prior to delinquency, all
insurance premiums, taxes, charges, liens and assessments against the Collateral and Proceeds, and upon the failure of Debtor to do so, Bank
at its option may pay any of them and shall be the sole judge of the legality or validity thereof and the amount necessary to discharge the same.
Any such payments made by Bank shall be obligations of Debtor to Bank, due and payable immediately upon demand, together with interest at
a rate determined in accordance with the provisions of this Agreement, and shall be secured by the Collateral and Proceeds, subject to all terms
and conditions of this Agreement. 

9.EVENTS OF DEFAULT. The occurrence of any of the following shall constitute an "Event of Default" under this Agreement: (a) any
default in the payment or performance of any obligation, or any defined event of default, under (i) any contract or instrument evidencing any
Indebtedness, or (ii) any other agreement between Debtor and Bank, including without limitation any loan agreement, relating to or executed in
connection with any Indebtedness; (b) any representation or warranty made by Debtor herein shall prove to be incorrect, false or misleading in
any material respect when made; (c) Debtor shall fail to observe or perform any obligation or agreement contained herein; (d) any impairment in
the rights of Bank in any Collateral or Proceeds, or any attachment or like levy on any property of Debtor; and (e) Bank, in good faith, believes
any or all of the Collateral and/or Proceeds to be in danger of misuse, dissipation, commingling, loss, theft, damage or destruction, or otherwise
in jeopardy or unsatisfactory in character or value. 

10.REMEDIES. Upon the occurrence of any Event of Default, Bank shall have the right to declare immediately due and payable all or
any Indebtedness secured hereby and to terminate any commitments to make loans or otherwise extend credit to Debtor. Bank shall have all
other rights, powers, privileges and remedies granted to a secured party upon default under the California Uniform Commercial Code or
otherwise provided by law, including without limitation, the right (a) to contact all persons obligated to Debtor on any Collateral or Proceeds and
to instruct such persons to deliver all Collateral and/or Proceeds directly to Bank, and (b) to sell, lease, license or otherwise dispose of any or all
Collateral. All rights, powers, privileges and remedies of Bank shall be cumulative. No delay, failure or discontinuance of Bank in exercising any
right, power, privilege or remedy hereunder shall affect or operate as a waiver of such right, power, privilege or remedy; nor shall any single or
partial exercise of any such right, power, privilege or remedy preclude, waive or otherwise affect any other or further exercise thereof or the
exercise of any other right, power, privilege or remedy. Any waiver, permit, consent or approval of any kind by Bank of any default hereunder, or
any such waiver of any provisions or conditions hereof, must be in writing and shall be effective only to the extent set forth in writing. It is agreed
that public or private sales or other dispositions, for cash or on credit, to a wholesaler or retailer or investor, or user of property of the types
subject to this Agreement, or public auctions, are all commercially reasonable since differences in the prices generally realized in the different
kinds of dispositions are ordinarily offset by the differences in the costs and credit risks of such dispositions. While an Event of Default exists: (a) Debtor will deliver to

                                                       -4-

Bank from time to time, as requested by Bank, current lists of all Collateral and Proceeds; (b) Debtor will not dispose of any
Collateral or Proceeds except on terms approved by Bank; (c) at Bank's request, Debtor will assemble and deliver all Collateral and Proceeds,
and books and records pertaining thereto, to Bank at a reasonably convenient place designated by Bank; and (d) Bank may, without notice to
Debtor, enter onto Debtor's premises and take possession of the Collateral. With respect to any sale by Bank of any Collateral subject to this
Agreement, Debtor hereby expressly grants to Bank the right to sell such Collateral using any or all of Debtor's trademarks, trade names, trade
name rights and/or proprietary labels or marks. Debtor further agrees that Bank shall have no obligation to process or prepare any Collateral for
sale or other disposition. 

11.DISPOSITION OF COLLATERAL AND PROCEEDS; TRANSFER OF INDEBTEDNESS. In disposing of Collateral hereunder, Bank
may disclaim all warranties of title, possession, quiet enjoyment and the like. Any proceeds of any disposition of any Collateral or Proceeds, or
any part thereof, may be applied by Bank to the payment of expenses incurred by Bank in connection with the foregoing, including reasonable
attorneys' fees, and the balance of such proceeds may be applied by Bank toward the payment of the Indebtedness in such order of application
as Bank may from time to time elect. Upon the transfer of all or any part of the Indebtedness, Bank may transfer all or any part of the Collateral
or Proceeds and shall be fully discharged thereafter from all liability and responsibility with respect to any of the foregoing so transferred, and
the transferee shall be vested with all rights and powers of Bank hereunder with respect to any of the foregoing so transferred; but with respect
to any Collateral or Proceeds not so transferred, Bank shall retain all rights, powers, privileges and remedies herein given. 

12.STATUTE OF LIMITATIONS. Until all Indebtedness shall have been paid in full and all commitments by Bank to extend credit to
Debtor have been terminated, the power of sale or other disposition and all other rights, powers, privileges and remedies granted to Bank
hereunder shall continue to exist and may be exercised by Bank at any time and from time to time irrespective of the fact that the Indebtedness
or any part thereof may have become barred by any statute of limitations, or that the personal liability of Debtor may have ceased, unless such
liability shall have ceased due to the payment in full of all Indebtedness secured hereunder. 

13.MISCELLANEOUS. When there is more than one Debtor named herein: (a) the word "Debtor" shall mean all or any one or more of
them as the context requires; (b) the obligations of each Debtor hereunder are joint and several; and (c) until all Indebtedness shall have been
paid in full, no Debtor shall have any right of subrogation or contribution, and each Debtor hereby waives any benefit of or right to participate in
any of the Collateral or Proceeds or any other security now or hereafter held by Bank. Debtor hereby waives any right to require Bank to (i)
proceed against Debtor or any other person, (ii) marshal assets or proceed against or exhaust any security from Debtor or any other person, (iii)
perform any obligation of Debtor with respect to any Collateral or Proceeds, and (d) make any presentment or demand, or give any notice of
nonpayment or nonperformance, protest, notice of protest or notice of dishonor hereunder or in connection with any Collateral or Proceeds.
Debtor further waives any right to direct the application of payments or security for any Indebtedness of Debtor or indebtedness of customers of
Debtor. 

                                                       -5-

14.NOTICES. All notices, requests and demands required under this Agreement must be in writing, addressed to Bank at the address
specified in any other loan documents entered into between Debtor and Bank and to Debtor at the address of its chief executive office 

(or principal residence, if applicable) specified below or to such other address as any party may designate by written notice to each other
party, and shall be deemed to have been given or made as follows: (a) if personally delivered, upon delivery; (b) if sent by mail, upon the earlier
of the date of receipt or three (3) days after deposit in the U.S. mail, first class and postage prepaid; and (c) if sent by telecopy, upon receipt.

15.COSTS, EXPENSES AND ATTORNEYS' FEES. Debtor shall pay to Bank immediately upon demand the full amount of all
payments, advances, charges, costs and expenses, including reasonable attorneys' fees (to include outside counsel fees and all allocated costs
of Bank's in-house counsel), expended or incurred by Bank in connection with (a) the perfection and preservation of the Collateral or Bank's
interest therein, and (b) the realization, enforcement and exercise of any right, power, privilege or remedy conferred by this Agreement, whether
incurred at the trial or appellate level, in an arbitration proceeding or otherwise, and including any of the foregoing incurred in connection with
any bankruptcy proceeding (including without limitation, any adversary proceeding, contested matter or motion brought by Bank or any other
person) relating to Debtor or in any way affecting any of the Collateral or Bank's ability to exercise any of its rights or remedies with respect
thereto. All of the foregoing shall be paid by Debtor with interest from the date of demand until paid in full at a rate per annum equal to the
greater of ten percent (10%) or Bank's Prime Rate in effect from time to time. 

16.SUCCESSORS; ASSIGNS; AMENDMENT. This Agreement shall be binding upon and inure to the benefit of the heirs, executors,
administrators, legal representatives, successors and assigns of the parties, and may be amended or modified only in writing signed by Bank
and Debtor. 

17.OBLIGATIONS OF MARRIED PERSONS. Any married person who signs this Agreement as Debtor hereby expressly agrees that
recourse may be had against his or her separate property for all his or her Indebtedness to Bank secured by the Collateral and Proceeds under
this Agreement. 

18.SEVERABILITY OF PROVISIONS. If any provision of this Agreement shall be held to be prohibited by or invalid under applicable
law, such provision shall be ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of such provision or
any remaining provisions of this Agreement. 

19.GOVERNING LAW. This Agreement shall be governed by and construed in accordance with the laws of the State of California.

Debtor warrants that Debtor is an organization registered under the laws of Nevada. 

Debtor warrants that its chief executive office (or principal residence, if applicable) is located at the following address: 25552 South Butte
Avenue, Five Points, CA 93624. 

Debtor warrants that the Collateral (except goods in transit) is located or domiciled at the following additional addresses: 250 East
5th Street, Holtville, CA 92250. 

                                                       -6-

IN WITNESS WHEREOF, this Agreement has been duly executed as of February 1, 2014. 

S&W SEED COMPANY 

By: /s/ Matthew K. Szot        

    Matthew K. Szot, Senior Vice President, 

        Chief Financial Officer

   

   

   

                                                       -7-

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