Document:

Floating Rate Loan/Procedures Letter

 Exhibit 10.41 
 FLOATING RATE LOAN – PROCEDURES LETTER 
 Harris Trust and Savings Bank 
 111 West Monroe Street 
 Chicago, Illinois 60690 
 Gentlemen: 
 FC STONE, L.L.C., an Iowa limited liability company, (the “Company”) hereby requests that borrowings under its $5,000,000 uncommitted revolving loan facility from Harris Trust and Savings Bank be made and documented upon
the following terms and conditions. You agree until further notice that upon oral advice by telephone received by you from time to time from authorized persons listed in this letter that we wish to borrow money, you will, if you elect to approve the
requested loan, deposit the proceeds of same to our general account with you (the “Account”). It is understood that any sums of money borrowed by telephone on advice of an authorized person or a person purporting to be an authorized
person in accordance with the foregoing arrangement shall immediately be credited to the Account, and we shall be obligated to repay to you the sums so borrowed at the time and with the interest set forth in this letter. 
 All such borrowings shall be repaid by us upon your demand, but they may, at our election in any instance, be repaid at any time upon telephonic advice
to you. 
 All borrowings made by us from you under the subject facility shall bear interest prior to maturity at a rate per annum which is
equal to at all times to the rate from time to time announced by you as your prime commercial rate, with any change in the interest rate on such borrowings by virtue of a change in such prime commercial rate to be and become effective as of and on
the date of the relevant change in such prime commercial rate. Interest shall be computed on the basis of a year of 360 days and actual days elapsed and shall be payable on the last day of each month and upon demand. 
 All borrowings hereunder shall be made against and evidenced by a promissory note of the Company payable to your order in the aggregate principal amount
of $5,000,000 such note to mature as set forth in, and to be otherwise in the form of Exhibit A attached hereto (the “Note”). You agree that notwithstanding the fact that the Note is in the principal amount of $5,000,000 it
shall evidence only the actual principal amount of borrowings made by us from time to time under the subject facility and you agree that if you transfer or assign the Note you will stamp thereon a statement of the actual principal amount evidenced
thereby at the time of transfer. We agree that in any action or proceeding instituted to collect or enforce collection of the Note, the amount shown as owing you on your records shall be prima facie evidence of the unpaid balance of principal and
interest on the Note. 
 The persons authorized to give you telephonic instructions to lend money and repay borrowings in accordance with the
foregoing are: Paul Anderson, Robert V. Johnson, Al Evans, Robert Hornbrook, Bill Dunaway, Mark Smith. In accepting telephonic advices from any of such persons in accordance with the terms of this Agreement, you shall be entitled to rely on advices
given by any person purporting to be any one 

 
of such persons and shall have no liability to us on account of any action taken by you pursuant to such telephonic advices provided you have acted in good
faith in connection therewith. You are, of course, authorized to lend money to us upon the written instructions of any persons authorized to borrow funds by telephonic advice. 
 This Agreement and the arrangements and authorizations herein contemplated shall remain in full force and effect, and shall be applicable to any renewals
of, or replacements or substitutions for, our present loan facility, unless and until you have received written notice from the Company of the termination or modification of this Agreement at your office in Chicago, Illinois or unless and until the
Company has received such a notice at its address as shown on your records from you; provided that no such termination or modification by the Company shall affect any transaction which occurred prior to the receipt of such notice by you nor shall
any such termination or modification become effective without your written consent unless and until all amounts which shall have been borrowed hereunder shall have been repaid in full. This Agreement and your acceptance of this Agreement as
hereinafter contemplated do not constitute any commitment on your part to make any credit available to the Company, it being understood that this Agreement is only intended to set forth the procedures which shall be applicable to such loans as the
Bank may in its discretion elect to make available to the Company from time to time. This Agreement and the rights and remedies of the parties hereto shall be governed by the laws of Illinois. 
 If you are in agreement with the foregoing, please sign in the appropriate place on the enclosed counterpart and return such counterpart to us, whereupon
this letter shall become a binding agreement between you and us. 
 Dated this
15th day of Sept. 2000. 
  

			
	 Very truly yours,

	
	FC Stone, L.L.C.
		
	By:	 	Farmers Commodities Corporation
	Its:	 	Sole Member
		
	By:	 	 /s/ Robert V. Johnson

	Its:	 	Vice President – Finance

 Accepted as of the date last above written. 
  

			
	HARRIS TRUST AND SAVINGS BANK
		
	By:	 	 /s/ [Illegible]

	Its:	 	Vice PresidentGuaranty Agreement

 Exhibit 10.44 
 GUARANTY AGREEMENT 
 For value received and in consideration of advances made or to be made, or
credit given or to be given, or other financial accommodation afforded or to be afforded to FC STONE, L.L.C. (hereinafter designated as “Borrower”), by HARRIS TRUST AND
SAVINGS BANK. (hereinafter called the “Bank”), from time to time, the undersigned hereby guarantees the full and prompt payment to the Bank at maturity and at all times thereafter of any and all
indebtedness, obligations and liabilities of every kind and nature of the Borrower to the Bank (including liabilities of partnerships created or arising while the Borrower may have been or may be a member thereof), howsoever evidenced, whether now
existing or hereafter created or arising, whether direct or indirect absolute or contingent, or joint or several, and howsoever owned, held or acquired, whether through discount, overdraft, purchase, direct loan or as collateral, or otherwise
(hereinafter all such indebtedness, obligations and liabilities being collectively referred to as the “Indebtedness; the undersigned further agrees to pay all expenses, legal and/or otherwise (including court costs and reasonable
attorneys’ fees), paid or incurred by the Bank in endeavoring to collect the Indebtedness, or any part thereof, and in protecting, defending or enforcing this guaranty in any litigation, bankruptcy or insolvency proceedings or otherwise. The
liability of the undersigned hereunder is limited to $15,000,000 plus interest on all loans and/or advances hereunder and all expenses hereinbefore mentioned. 
 The undersigned further acknowledges and agrees with the Bank that; 
 1. This guaranty is a continuing,
absolute and unconditional guaranty, and shall remain in full force and effect until written notice of its discontinuance shall be actually received by the Bank, and also until any and all of the Indebtedness created, existing or committed to before
receipt of such notice shall be fully paid. The death or dissolution of the undersigned shall not terminate this guaranty until notice of such death or dissolution shall have been actually received by the Bank, nor until all of the Indebtedness
created or existing before receipt of such notice shall be fully paid. The granting of credit from time to time by the Bank to the Borrower in excess of the amount to which the right of recovery under this guaranty is limited and without notice to
the undersigned, is hereby also authorized and shall in no way affect or impair this guaranty. 
 2. In case of the death, incompetency,
dissolution, liquidation or insolvency (howsoever evidenced) of, or the institution of bankruptcy or receivership proceedings against the Borrower or the undersigned, all of the Indebtedness then existing shall, at the option of the Bank,
immediately become due or accrued and payable from the undersigned. All dividends or other payments received from the Borrower or on account of the Indebtedness from whatsoever source, shall be taken and applied as payment in gross, and this
guaranty shall apply to and secure any ultimate balance that shall remain owing to the Bank. 
 3. The liability hereunder shall in no wise
be affected or impaired by (and the Bank is hereby authorized to make from time to time, without notice to anyone), any sale, pledge, surrender, compromise, settlement, release, renewal, extension, indulgence, alteration, substitution, exchange,
change in, modification or other disposition of any of the Indebtedness, either express or implied, or of any contract or contracts evidencing any of the Indebtedness, or of any security or collateral therefor. The liability hereunder shall in no
wise be affected or 

 
impaired by any acceptance by the Bank or any security for, or other guarantors upon, any of the indebtedness, or by any failure, neglect or omission on the
part of the Bank to realize upon or protect any of the indebtedness, or any collateral or security therefor, or to exercise any lien upon or right of appropriation of any moneys, credits or property of the Borrower, possessed by the Bank, toward the
liquidation of the Indebtedness, or by any application of payments or credits thereon. The Bank shall have the exclusive right to determine how, when and what application of payments and credits, if any, shall be made on the Indebtedness, or any
part thereof. In order to hold the undersigned liable hereunder, there shall be no obligation on the part of the Bank, at any time, to resort for payment to the Borrower or to any other guaranty, or to any other persons or corporations, their
properties or estates, or resort to any collateral, security, property, liens or other rights or remedies whatsoever, and the Bank shall have the right to enforce this guaranty irrespective of whether or not other proceedings or steps seeking resort
to or realization upon or from any of the foregoing are pending. 
 4. All diligence in collection or protection, and all presentment,
demand, protest and/or notice, as to any and everyone, whether or not the Borrower or the undersigned or others, of dishonor and of default and of non-payment and of the creation and existence of any and all of the Indebtedness, and of any security
and collateral therefor, and of the acceptance of this guaranty, and of any and all extensions of credit and indulgence hereunder, are waived. No act of commission or omission of any kind, or at any time, upon the part of the Bank in respect of any
matter whatsoever, shall in any way affect to impair this guaranty. 
 5. The undersigned will not exercise or enforce any right of
exoneration, contribution, reimbursement, recourse or subrogation available to the undersigned against any person liable for payment of the Indebtedness, or as to any security therefor, unless and until the full amount owing to the Bank on the
Indebtedness has been paid and the payment by the undersigned or any amount pursuant to this guaranty shall not in any wise entitle the undersigned to any right, title or interest (whether by way of subrogation or otherwise) in and to any of the
Indebtedness or any proceeds thereof or any security therefor unless and until the full amount owing to the Bank on the Indebtedness has been paid. 
 6. The Bank may, without any notice whatsoever to anyone, sell, assign or transfer all of the Indebtedness, or any part thereof, or grant participations therein, and in that event each and every immediate and successive assignee,
transferee, or holder of or participant in all or any part of the Indebtedness, shall have the right to enforce this guaranty, by suit or otherwise, for the benefit of such assignee, transferee, holder or participant, as fully as if such assignee,
transferee, holder or participant were herein by name specifically given such rights, powers and benefits; but the Bank shall have an unimpaired right to enforce this guaranty for the benefit of the Bank or any such participant, as to so much of the
Indebtedness that it has not sold, assigned or transferred. 
 7. The undersigned waives any and all defenses, claims and discharges of the
Borrower, or any other obligor, pertaining to the Indebtedness, except the defense of discharge by payment in full. Without limiting the generality of the foregoing, the undersigned will not assert, plead or enforce against the Bank any defense of
waiver, release, discharge in bankruptcy, statute of limitations, res judicata, statute of frauds, anti-deficiency statute, fraud, incapacity, minority, usury, illegality or unenforceability which may be available to the Borrower or any 

 
other person liable in respect of any of the Indebtedness, or any setoff available against the Bank to the Borrower or any such other person, whether or not
on account of a related transaction. The undersigned agrees that the undersigned shall be and remain liable for any deficiency remaining after foreclosure of any mortgage or security interest securing the Indebtedness, whether or not the liability
of the Borrower or any other obligor for such deficiency is discharged pursuant to statute or judicial decision. 
 8. If any payment applied
by the Bank to the Indebtedness is thereafter set aside, recovered rescinded or required to be returned for any reason (including, without limitation, the bankruptcy, insolvency or reorganization of the Borrower or any other obligor), the
Indebtedness to which such payment was applied shall for the purposes of this guaranty be deemed to have continued in existence, notwithstanding such application, and this guaranty shall be enforceable as to such of the Indebtedness as fully as if
such application had never been made. 
 9. The liability of the undersigned under this guaranty is in addition to and shall be cumulative
with all other liabilities of the undersigned to the Bank as guarantor of the Indebtedness, without any limitation as to amount, unless the instrument or agreement evidencing or creating such other liability specifically provided to the contrary.

 10. Any invalidity or unenforceability of any provision or application of this guaranty shall not affect other lawful provisions and
applications hereof, and to this end the provisions of this guaranty are declared to be severable. This guaranty shall be construed according to the laws of the State of Illinois, in which State it shall be performed by the undersigned and may not
be waived, amended, released or otherwise changed except by a writing signed by the Bank. 
 11. This guaranty and every part thereof shall
be effective upon delivery to the Bank, without further act, condition or acceptance by the Bank, shall be binding upon the undersigned, jointly and severally, and upon the heirs, legal representatives, successors and assigns of the undersigned, and
shall inure to the benefit of the Bank, its successors, legal representatives and assigns. The undersigned waives notice of the Bank’s acceptance hereof. 
 SIGNED and DELIVERED by the undersigned, at Chicago, Illinois this
15th day of September, 2000. 
  
  

					
	FARMERS COMMODITIES CORPORATION
		
	 By:
	 	/s/ Robert V. Johnson
		 	Its:	 	V.P.—Finance

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