Document:

Exhibit 10.62

 

AMENDED AND RESTATED TERM NOTE

 

	$12,000,000	Greenwood Village, Colorado

December 20, 2019

 

FOR VALUE RECEIVED, ILLINOIS CORN
PROCESSING, LLC, a limited liability company organized and existing under the laws of Delaware (the “Company”),
hereby promises to pay to the order of COMPEER FINANCIAL, PCA (which, together with its endorsees, successors, and assigns, is
referred to herein as the “Bank”), at the office of CoBank, ACB (the “Agent”) located at 6340
S. Fiddlers Green Circle, Greenwood Village, Colorado 80111 (or at such other place of payment designated by the holder hereof
to the Company), the principal sum of TWELVE MILLION DOLLARS ($12,000,000) (such amount, the “Term Loan Amount”)
(each loan and any one or more portions of any loan being referred to herein as a “Loan”), and to pay interest,
as set forth below, from the date hereof until Payment in Full on the principal amount remaining from time to time outstanding
at the rates set forth below, in lawful money of the United States of America in immediately available funds, payable with interest
thereon, as set forth below, without presentment, demand, protest or notice of any kind, all of which are hereby expressly waived
by the Company, and without set-off, counterclaim or other deduction of any nature. This Term Note (as amended, restated, modified,
supplemented, replaced, refinanced or renewed from time to time, this “Note”) is given pursuant to that Credit
Agreement, dated as of September 15, 2017, between the Company, the Bank and the Agent (as amended, restated, modified or supplemented
from time to time, the “Agreement”). Capitalized terms not otherwise defined in this Note shall have the respective
meanings ascribed to them by the Agreement, including Annex A thereto, and the Rules of Construction set forth in such Annex A
shall apply to this Note. This Note amends and restates, but does not constitute payment of the indebtedness, evidenced by, the
Term Note, dated as of September 15, 2017, by the Company to the order of the Bank.

 

1. Borrowing
Availability. If not sooner borrowed, the Term Loan Amount shall be borrowed in a single
advance no later than 12:00 noon on November 1, 2017 (the “Term Loan Availability Expiration Date”).

 

2. Purpose
of Term Loan. The proceeds of the Term Loan shall be used to refinance the existing indebtedness
of the Company, and the Company shall use the Term Loan for no other purpose.

 

3. Principal
Payments. Principal hereunder shall be due and payable in six (6) equal consecutive quarterly
installments of $1,500,000 each, beginning on March 20, 2020, and continuing on the twentieth (20th) day of each June, September,
December, and March thereafter until September 20, 2021 (the “Maturity Date”), at which time the entire remaining
indebtedness evidenced by this Note, if not sooner paid in accordance with the terms of the Agreement and this Note, shall be due
and payable.

 

4. Interest
Payments. The Company hereby further promises to pay to the order of the Agent, at the
times and on the dates provided in the Agreement, interest on the unpaid principal amount of the Loans from the date hereof until
the Payment in Full of all of the Loans at the rate or rates comprising the Interest Rate Option(s) (defined below), which the
Company shall select in accordance with the terms hereof to apply to each Loan, it being understood that, subject to the provisions
of this Note and the Agreement, the Company may select different Interest Rate Options to apply to the Loans and may convert to
or renew one or more Interest Rate Options with respect to any one or more of the Loans; provided that in the event the Company
shall fail to timely select an Interest Rate Option to apply to any one or more Loans, such Loans shall bear interest at the LIBOR
Index Option, and provided further that if an Event of Default or Default exists and is continuing, the Company may not request,
convert to, or renew the Quoted Rate Option for any Loans, and the Agent may demand that all existing Loans bearing interest under
the Quoted Rate Option shall be converted immediately to the LIBOR Index Option, and the Company shall be obligated to pay the
Agent any indemnity, costs, and expenses arising in connection with such conversion.

 

5. Interest
Rate Options. The Company shall have the right to select from the following interest rate
options with respect to the Loans (each, an “Interest Rate Option”): (a) upon the selection of a LIBOR Index Option,
the LIBOR Index Rate with a LIBOR Index Spread of 5.00% per annum (the “LIBOR Index Spread”) or (b) upon the selection
of a Quoted Rate Option, the Quoted Rate with such Quoted Rate to remain fixed for such period as is confirmed to the Company by
the Agent.

 

     

     

    

 

6. Loan
Requests. Subject to the terms and conditions of this Note and the Agreement, the Company
may prior to the Term Loan Availability Expiration Date request the Bank to make the Term Loan and the Company may from time to
time prior to the Maturity Date request the Agent to renew or convert the Interest Rate Option applicable to an existing Loan,
by delivering, in accordance with the notice provisions of the Agreement, to the Agent not later than 12:00 noon (Denver time),

 

(a) the same Business Day as
the proposed Business Day of borrowing with respect to a Loan to which the LIBOR Index Option will apply, and (b) the same Business
Day as the proposed Business Day of borrowing with respect to a Loan to which the Quoted Rate Option will apply or the last day
of the preceding Quoted Rate period with respect to the conversion to or renewal of the Quoted Rate Option for a Loan,

 

a duly completed request therefor
substantially in the form of Exhibit A hereto (or a request made by CoBank or by telephone, but subject to the same deadline
and containing substantially the same information, and in the case of a telephone request, immediately confirmed in writing substantially
in the form of Exhibit A and delivered in accordance with the terms hereof) by physical delivery, facsimile, or electronic
mail (each such request, whether telephonic or written and regardless how delivered, a “Loan Request”), it being
understood that the Agent may rely on the authority of any individual making such a telephonic request without the necessity of
receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify the amount of the proposed Loan,
the Interest Rate Option to be applicable thereto, and, if applicable, the Quoted Rate period therefor (each Quoted Rate applicable
to a Loan shall remain fixed for such period as is confirmed to the Company by the Agent), which amounts shall be in integral multiples
of $500,000 for each Loan under the Quoted Rate Option. All notices and requests hereunder shall be given, and all borrowings and
all conversions or renewals of Interest Rate Options shall occur, only on Business Days.

 

7. Loans;
Limitations. Under the Quoted Rate Option, a Quoted Rate may be fixed on such balance
and for such period, and shall be subject to such rules and requirements as may be established by the Agent in its sole discretion
in each instance, provided that: (1) the minimum fixed period hereunder shall be 365 days; (2) at no time shall more than 10 Loans
to which the Quoted Rate Option applies be outstanding at any one time; and (3) amounts may be fixed in increments of $500,000
or integral multiples thereof. The Agent’s determination of the Quoted Rate shall be conclusive and binding upon the Company absent
manifest error.

 

8. Incomplete
Loan Requests; Consequences. If no Interest Rate Option is timely selected when a Loan
is requested or with respect to the end of any applicable Quoted Rate period for a Loan or prior to a requested conversion to a
Quoted Rate Option for a Loan previously subject to a different Interest Rate Option, the Company shall be deemed to have selected
a LIBOR Index Option for such Loan. In no event shall the interest rate(s) applicable to principal outstanding hereunder exceed
the maximum rate of interest allowed by applicable Law, as amended from time to time; any payment of interest or in the nature
of interest in excess of such limitation shall be credited as a payment of principal unless the Company requests the return of
such amount.

 

9. Miscellaneous.

 

(a) This
Note is the Term Note referred to in, and is entitled to the benefits of, the Agreement and the other Loan Documents referred to
therein. Reference is made to the Agreement for a description of the relative rights and obligations of the Company, the Bank and
the Agent, including rights and obligations of prepayment, collateral securing payment hereof, Events of Default, and rights of
acceleration of maturity upon the occurrence of an Event of Default.

 

(b) No
delay on the part of the holder hereof in exercising any of its options, powers, or rights, or partial or single exercise thereof,
shall constitute a waiver thereof. The options, powers, and rights specified herein of the holder hereof are in addition to those
otherwise created or permitted by Law, the Agreement, and the other Loan Documents. There are no claims, set-offs, or deductions
of any nature as of the date hereof that could be made or asserted by the Company against the Bank and / or the Agent or against
any amount due or to become due under this Note; all such claims, set-offs, or deductions are hereby waived by the Company.

 

(c) Delivery
of an executed signature page of this Note by telecopy or email (as a .pdf attachment thereto or otherwise) shall be as
effective as delivery of a manually executed counterpart of this Note, but shall in any event be promptly followed by delivery
of the original manually executed signature page (provided, however, that the failure to do so shall in no event adversely affect
the rights of the Bank and / or the Agent hereunder whatsoever). THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH
THE LAWS OF THE STATE OF COLORADO, WITHOUT GIVING EFFECT TO CONFLICT OF LAWS PRINCIPLES.

 

[SIGNATURE PAGE FOLLOWS]

 

    2

     

    

 

IN WITNESS
WHEREOF and intending to be legally bound hereby, the Company has executed this Note as of the date hereof by its duly Authorized
Officer.

 

	 	ILLINOIS CORN PROCESSING, LLC
	 	 	 
	 	By:	/s/ Bryon T. McGregor
	 	Name:  	Bryon T. McGregor
	 	Title:	Chief Financial Officer

 

	AGREED AND ACCEPTED:	 
	 	 
	COBANK, ACB	 
	 	 	 
	By:	/s/ Janet Downs	 
	Name:  	Janet Downs	 
	Title:	Vice President	 

 

[Amended and Restated Term Note Signature
Page]

 

     

     

    

 

EXHIBIT A

 

FORM OF TERM LOAN REQUEST

 

[____________], 20[__]

 

To: CoBank, ACB (the “Agent”)

 

From: Illinois Corn Processing, LLC (the “Company”)

 

		Re:	Credit Agreement (as amended, restated, modified or supplemented
from time to time, the “Credit Agreement”), dated as of September 15, 2017, between the Company, Compeer Financial,
PCA, as Lender, and the Agent

 

Pursuant to Section 2.1 of the Credit Agreement, the Company
hereby gives notice of its desire to receive a Term Loan in accordance with the terms set forth below (all capitalized terms used
herein and not defined herein shall have the meaning given them in the Credit Agreement):

 

		(a)	The Term Loan requested pursuant to this Loan Request shall
be made on [_____________], 20[__].

 

		(b)	The aggregate principal amount
of the Term Loan requested hereunder is [__________] Dollars ($[_______]).

 

		(c)	The Term Loan requested hereunder
shall initially bear interest at the [select one]:

 

☐ LIBOR
Index Option; or

 

☐ Quoted
Rate Option.

 

	 	ILLINOIS CORN PROCESSING, LLC
	 	 	 
	 	By:	            
	 	Name:	 
	 	Title:Exhibit 10.63

 

AMENDED AND RESTATED REVOLVING TERM NOTE

 

	$18,000,000	Greenwood Village, Colorado

December 20, 2019

 

FOR VALUE RECEIVED, ILLINOIS CORN
PROCESSING, LLC, a limited liability company organized and existing under the laws of Delaware (the “Company”),
hereby promises to pay to the order of COMPEER FINANCIAL, PCA (which, together with its endorsees, successors, and assigns, is
referred to herein as the “Bank”), at the office of CoBank, ACB (the “Agent”) located at 6340
S. Fiddlers Green Circle, Greenwood Village, Colorado 80111 (or at such other place of payment designated by the holder hereof
to the Company), the lesser of (i) the principal sum of EIGHTEEN MILLION DOLLARS ($18,000,000) as reduced from time to time pursuant
to Section 1 below (as so reduced, the “Revolving Term Commitment”), or (ii) the aggregate unpaid principal balance
of all loans made under the Revolving Term Commitment by the Bank to or for the benefit of the Company (each loan and any one or
more portions of any loan being referred to herein as a “Loan”) pursuant to that Credit Agreement, dated as of
September 15, 2017, between the Company, the Bank and the Agent (as amended, restated, modified or supplemented from time to time,
the “Agreement”), in lawful money of the United States of America in immediately available funds, payable together
with interest thereon, as set forth below, without presentment, demand, protest or notice of any kind, all of which are hereby
expressly waived by the Company, and without set-off, counterclaim or other deduction of any nature at the earlier of September
1, 2022 (the “Revolving Term Facility Expiration Date”), or as otherwise set forth below or in the Agreement.
Capitalized terms not otherwise defined in this Revolving Term Note (as amended, restated, modified, supplemented, replaced, refinanced
or renewed from time to time, this “Note”) shall have the respective meanings ascribed to them by the Agreement, including
Annex A thereto, and the Rules of Construction set forth in such Annex A shall apply to this Note. This Note amends and restates,
but does not constitute payment of the indebtedness, evidenced by, the Revolving Term Note, dated as of September 15, 2017, by
the Company to the order of the Bank.

 

1. Commitment
Reductions. The Company shall have the right, in its sole discretion, to permanently reduce
the Revolving Term Commitment by giving the Agent ten (10) days prior written notice; provided that no Event of Default or Default
has occurred or would result therefrom. Any such permanent reduction by the Company shall be made in increments of $500,000.

 

2. Principal
Payments and Prepayments. Payments and prepayments of principal shall be due and payable
as set forth in the Agreement and this Note. The entire remaining indebtedness evidenced by this Note, if not sooner paid in accordance
with the terms of the Agreement or this Note, shall be due and payable on the Revolving Term Facility Expiration Date. If at any
time, the aggregate principal amount of Loans outstanding exceeds the Revolving Term Commitment at such time, the Company shall
immediately notify the Agent and shall immediately prepay the principal amount of the outstanding Loans in an amount sufficient
to eliminate such excess.

 

3. Purpose
of Revolving Term Facility. The proceeds of the Revolving Term Facility shall be used
to refinance the existing indebtedness of the Company and provide Working Capital for the Company, and the Company shall use the
Loans for no other purpose.

 

4. Unused
Commitment Fee. Accruing from the date hereof until the Revolving Term Facility Expiration
Date, the Company agrees to pay to the Agent a nonrefundable commitment fee (the “Unused Commitment Fee”) equal
to 0.75% per annum (computed on the basis of a year of 360 days for the actual number of days elapsed) multiplied by the average
daily positive difference between the amount of (i) the Revolving Term Commitment minus (ii) the aggregate principal amount
of all Loans then outstanding. All Unused Commitment Fees shall accrue to the first day of each month and be payable monthly in
arrears on the 20th day of each month hereafter, commencing on October 20, 2017, and on the Revolving Term Facility Expiration
Date.

 

     

     

    

 

5. Interest
Payments. The Company hereby further promises to pay to the order of the Agent, at the
times and on the dates provided in the Agreement, interest on the unpaid principal amount of the Loans from the date hereof until
the Payment in Full of all of the Loans at the rate or rates comprising the Interest Rate Option(s) (defined below), which the
Company shall select in accordance with the terms hereof to apply to each Loan, it being understood that, subject to the provisions
of this Note and the Agreement, the Company may select different Interest Rate Options to apply to the Loans and may convert to
or renew one or more Interest Rate Options with respect to any one or more of the Loans; provided that in the event the Company
shall fail to timely select an Interest Rate Option to apply to any one or more Loans, such Loans shall bear interest at the LIBOR
Index Option, and provided further that if an Event of Default or Default exists and is continuing, the Company may not request,
convert to, or renew the Quoted Rate Option for any Loans, and the Agent may demand that all existing Loans bearing interest under
the Quoted Rate Option shall be converted immediately to the LIBOR Index Option, and the Company shall be obligated to pay the
Agent any indemnity, costs, and expenses arising in connection with such conversion.

 

6. Interest
Rate Options. The Company shall have the right to select from the following interest rate
options with respect to the Loans (each, an “Interest Rate Option”): (a) upon the selection of a LIBOR Index Option,
the LIBOR Index Rate with a LIBOR Index Spread of 5.00% per annum (the “LIBOR Index Spread”) or (b) upon the selection
of a Quoted Rate Option, the Quoted Rate with such Quoted Rate to remain fixed for such period as is confirmed to the Company by
the Agent.

 

7. Loans;
Limitations. Under the Quoted Rate Option, a Quoted Rate may be fixed on such balance
and for such period, and shall be subject to such rules and requirements as may be established by the Agent in its sole discretion
in each instance, provided that: (1) the minimum fixed period hereunder shall be 365 days; (2) at no time shall more than 10 Loans
to which the Quoted Rate Option applies be outstanding at any one time; and (3) amounts may be fixed in increments of $500,000
or integral multiples thereof. The Agent’s determination of the Quoted Rate shall be conclusive and binding upon the Company absent
manifest error.

 

8. Loan
Requests. Subject to the terms and conditions of this Note and the Agreement, the Company
may prior to the Revolving Term Facility Expiration Date request the Bank to make Loans and the Company may from time to time prior
to the Revolving Term Facility Expiration Date request the Agent to renew or convert the Interest Rate Option applicable to an
existing Loan, by delivering, in accordance with the notice provisions of the Agreement, to the Agent not later than 12:00 noon
(Denver time),

 

(a) the same Business Day as
the proposed Business Day of borrowing with respect to a Loan to which the LIBOR Index Option will apply, and (b) the same Business
Day as the proposed Business Day of borrowing with respect to a Loan to which the Quoted Rate Option will apply or the last day
of the preceding Quoted Rate period with respect to the conversion to or renewal of the Quoted Rate Option for a Loan,

 

a duly completed request therefor
substantially in the form of Exhibit A hereto (or a request made by CoLink or by telephone, but subject to the same deadline
and containing substantially the same information, and in the case of a telephone request, immediately confirmed in writing substantially
in the form of Exhibit A and delivered in accordance with the terms hereof) by physical delivery, facsimile, or electronic
mail (each such request, whether telephonic or written and regardless how delivered, a “Loan Request”), it being
understood that the Agent may rely on the authority of any individual making such a telephonic request without the necessity of
receipt of such written confirmation. Each Loan Request shall be irrevocable and shall specify the amount of the proposed Loan,
the Interest Rate Option to be applicable thereto, and, if applicable, the Quoted Rate period therefor (each Quoted Rate applicable
to a Loan shall remain fixed for such period as is confirmed to the Company by the Agent), which amounts shall be in integral multiples
of $500,000 for each Loan under the Quoted Rate Option. All notices and requests hereunder shall be given, and all borrowings and
all conversions or renewals of Interest Rate Options shall occur, only on Business Days.

 

    2

     

    

 

9. Incomplete
Loan Requests; Consequences. If no Interest Rate Option is timely selected when a Loan
is requested or with respect to the end of any applicable Quoted Rate period for a Loan or prior to a requested conversion to a
Quoted Rate Option for a Loan previously subject to a different Interest Rate Option, the Company shall be deemed to have selected
a LIBOR Index Option for such Loan. In no event shall the interest rate(s) applicable to principal outstanding hereunder exceed
the maximum rate of interest allowed by applicable Law, as amended from time to time; any payment of interest or in the nature
of interest in excess of such limitation shall be credited as a payment of principal unless the Company requests the return of
such amount.

 

10. Miscellaneous.

 

(a) This
Note is the Revolving Term Note referred to in, and is entitled to the benefits of, the Agreement and the other Loan Documents
referred to therein. Reference is made to the Agreement for a description of the relative rights and obligations of the Company,
the Bank and the Agent, including rights and obligations of prepayment, collateral securing payment hereof, Events of Default,
and rights of acceleration of maturity upon the occurrence of an Event of Default.

 

(b) No
delay on the part of the holder hereof in exercising any of its options, powers, or rights, or partial or single exercise thereof,
shall constitute a waiver thereof. The options, powers, and rights specified herein of the holder hereof are in addition to those
otherwise created or permitted by Law, the Agreement, and the other Loan Documents. There are no claims, set-offs, or deductions
of any nature as of the date hereof that could be made or asserted by the Company against the Bank and / or the Agent or against
any amount due or to become due under this Note; all such claims, set-offs, or deductions are hereby waived by the Company.

 

(c) Delivery
of an executed signature page of this Note by telecopy or email (as a .pdf attachment thereto or otherwise) shall be as
effective as delivery of a manually executed counterpart of this Note, but shall in any event be promptly followed by delivery
of the original manually executed signature page (provided, however, that the failure to do so shall in no event adversely affect
the rights of the Bank and / or the Agent hereunder whatsoever). THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH
THE LAWS OF THE STATE OF COLORADO, WITHOUT GIVING EFFECT TO CONFLICT OF LAWS PRINCIPLES.

 

[SIGNATURE PAGE FOLLOWS]

 

    3

     

    

 

IN WITNESS WHEREOF
and intending to be legally bound hereby, the Company has executed this Note as of the date hereof by its duly Authorized Officer.

 

	 	ILLINOIS CORN PROCESSING, LLC
	 	 	 
	 	By:	/s/ Bryon T. McGregor
	 	Name:  	Bryon T. McGregor
	 	Title:	Chief Financial Officer

 

	AGREED AND ACCEPTED:	 
	 	 
	COBANK, ACB	 
	 	 	 
	By:	/s/ Janet Downs	 
	Name:  	Janet Downs	 
	Title:	Vice President	 

 

[Amended and Restated Revolving Term Note
Signature Page]

 

     

     

    

 

EXHIBIT A

 

FORM OF REVOLVING TERM LOAN REQUEST

 

[__________], 20[__]

 

To: CoBank, ACB (the “Agent”)

 

From: Illinois Corn Processing, LLC (the “Company”)

 

		Re:	Credit Agreement (as amended, restated, modified or supplemented
from time to time, the “Credit Agreement”), dated as of September 15, 2017, between the Company, Compeer Financial,
PCA, as Lender, and the Agent

 

Pursuant to Section 2.2(a) of
the Credit Agreement, the Company hereby gives notice of its desire to receive a Revolving Term Loan in accordance with the terms
set forth below (all capitalized terms used herein and not defined herein shall have the meaning given them in the Credit Agreement):

 

		(a)	The Revolving Term Loan requested
pursuant to this Revolving Term Loan Request shall be made on [__________], 20[__].

 

		(b)	The aggregate principal amount
of the Revolving Term Loan requested hereunder is [_________] Dollars ($[___________]).

 

		(c)	The Revolving Term Loan requested
hereunder shall initially bear interest at the [select one]:

 

☐ LIBOR
Index Option; or

 

☐ Quoted
Rate Option.

 

	 	ILLINOIS CORN PROCESSING, LLC
	 	 	 
	 	By:	             
	 	Name:	 
	 	Title:

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