Document:

exv10w12

 

EXHIBIT 10.12

LOCK-UP AGREEMENT

     THIS
LOCK-UP AGREEMENT (the “Agreement”) is made and entered
into this ___day of November,
2006 by and between ONE EARTH ENERGY, LLC (the “Company”), an Illinois limited liability company,
ALLIANCE GRAIN CO. (“Alliance”), FISHER FARMERS GRAIN & COAL COMPANY (“Fisher Farmers”), GRAND
PRAIRIE CO-OP, INC. (“Grand Prairie”), LUDLOW COOPERATIVE ELEVATOR COMPANY (“Ludlow”) and TOPFLIGHT
GRAIN COOPERATIVE, INC. (“Topflight”). Alliance, Fisher Farmers, Grand Prairie, Ludlow and
Topflight are hereby collectively referred to herein as “Security Holders.” The Agreement shall be
filed with the Company.

     WHEREAS, each of the Security Holders has received membership interests (“Units”) of the
Company pursuant to their Initial Member (Manager/Director) Subscription Agreements with the
Company; and

     WHEREAS, the number of Units issued to each Security Holder under its respective Initial
Member (Manager/Director) Subscription Agreement is set forth opposite its name on Schedule A
attached to this Agreement (the Units listed on Schedule A are hereinafter referred to as
“Restricted Units”) ; and

     WHEREAS, the Company has applied to, among others, the Indiana Securities Division and the
Missouri Securities Division (collectively the “Divisions”), for registration of 12,020 Units for
sale to the residents of Indiana, Missouri and elsewhere, and as a condition of registration the
Security Holders and the Company agree to be bound by this Agreement and the applicable rules and
regulations of the Divisions.

     NOW, THEREFORE, for and in consideration of the mutual promises and agreements hereinafter set
forth, the parties hereto agree as follows:

     1. Prohibition on Transfers. Except as set forth in Section 3, the Security Holders
shall not, from the date of this Agreement and at any time prior to the date that is three (3)
years from the date the Company closes its initial registered offering of Units (the “Restricted
Period”), sell, assign, transfer, or grant any option for the sale of, or otherwise transfer or
dispose of, whether or not for consideration, any of the Restricted Units. Except for the
Restricted Units, this restriction on transfer shall not apply to any other Units of the Company
held by the Security Holders. Following the expiration of the Restricted Period, the prohibition
on transfers shall terminate and the Security Holders shall be allowed to transfer the Units.

     2. Termination of Prohibition. The prohibition and restrictions on transfer of
Restricted Units shall terminate upon the earlier of:

     (i) at the end of the Restricted Period; or

     (ii) on the Divisions’ agreement to the release of the Units in response to a request
by the Company that the Units be released.

 

 

     3. Permitted Transfers. The Restricted Units may be transferred by will, or pursuant
to the laws of decent and distribution, or by operation of law, or by order of any court of
competent jurisdiction, but in all cases the Restricted Units shall remain subject to the
restrictions of this Agreement and subject to the terms of this Agreement until released pursuant
to Section 2 above.

     4. Voting. The Security Holders shall have all voting rights to which the Restricted
Units are entitled.

     5. Unit Splits. Any Units issued to the Security Holders resulting from any
distributions or splits of the Restricted Units shall be subject to the prohibitions and
restrictions under this Agreement.

     6. Legend. A legend shall be placed on the back side of each certificate of the
Restricted Units which states that the sale or transfer of the Units evidenced by the certificate
is subject to the restrictions set forth in this Agreement.

     7. Successors and Assigns. This Agreement shall be binding upon and inure to the
benefit of the parties hereto, their heirs, successors and assigns.

     8. Governing Law. This Agreement shall be governed by and construed in accordance
with the laws of the state of Illinois.

     9. Entire Agreement. This Agreement constitutes the entire Agreement among the
parties with respect to the subject matter hereof. This Agreement may be executed by any one or
more of the parties hereto in any number of counterparts, each of which shall be deemed to be an
original, but all such counterparts shall together constitute one and the same instrument.

     10. Termination. This Agreement shall terminate in its entirety when the prohibitions
and restrictions on transfers have expired or been released as provided in Section 2.

     IN WITNESS WHEREOF, the parties have entered into this Agreement on the date first above
written.

COMPANY:

One Earth Energy, LLC

	 	 	 
	By:
	 	/s/ Steven Kelly 
	 

	 	 
	Its:
	 	President 
	 

	 	 

2

 

SECURITY HOLDERS:

Alliance Grain Co.

	 	 	 
	By:
	 	/s/ Steven Kelly 
	 

	 	 
	 

	 	     Steven Kelly, General Manager
	 
	 	 
	Fisher Farmers Grain & Coal Company
	 
	 	 
	By:
	 	/s/ Louis Schwing, Jr. 
	 

	 	 
	 

	 	     Louis Schwing, Jr.
	 
	 	 
	Grand Prairie Co-op, Inc.
	 
	 	 
	By:
	 	/s/ Roger Miller 
	 

	 	 
	 

	 	     Roger Miller, General Manager
	 
	 	 
	Ludlow Cooperative Elevator Company
	 
	 	 
	By:
	 	/s/ Bruce Bastert 
	 

	 	 
	 

	 	     Bruce Bastert, General Manager
	 
	 	 
	Topflight Grain Cooperative, Inc.
	 
	 	 
	By:
	 	/s/ Scott Docherty 
	 

	 	 
	 

	 	     Scott Docherty, General Manager

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SCHEDULE A

Restricted Units

	 	 	 
	Alliance Grain Co.

	 	171 Units
	 
	 	 
	Fisher Farmers Grain & Coal Company

	 	171 Units
	 
	 	 
	Grand Prairie Co-op, Inc.

	 	171 Units
	 
	 	 
	Ludlow Cooperative Elevator Company

	 	171 Units
	 
	 	 
	Topflight Grain Cooperative, Inc.

	 	171 Units

4exv10w2

 

Exhibit 10.2

EIGHTEENTH AMENDMENT TO

LOAN AND SECURITY AGREEMENT

          THIS EIGHTEENTH AMENDMENT TO LOAN AND SECURITY AGREEMENT (this “Amendment”) is entered into as
of October 10, 2006, by and among Lenders, WELLS FARGO FOOTHILL, INC., a California corporation, as
the arranger and administrative agent for the Lenders (“Agent”) and MIDWAY HOME
ENTERTAINMENT INC., a Delaware corporation (“Midway”), MIDWAY AMUSEMENT GAMES, LLC, a
Delaware limited liability company (“MAG”; Midway and MAG are referred to hereinafter each
individually as a “Borrower”, and individually and collectively, jointly and severally, as
the “Borrowers”), MIDWAY GAMES INC., a Delaware corporation (“Parent”), MIDWAY
GAMES WEST INC., a California corporation (“MGW”), MIDWAY INTERACTIVE INC., a Delaware
corporation (“MI”), MIDWAY SALES COMPANY, LLC, a Delaware limited liability company
(“MSC”), MIDWAY HOME STUDIOS INC., a Delaware corporation (“MHS”), SURREAL SOFTWARE
INC., a Washington corporation (“Surreal”), MIDWAY STUDIOS – AUSTIN INC., a Texas
corporation (“MSA”), MIDWAY STUDIOS – LOS ANGELES INC., a California corporation (“MSLA”) (“MSD”;
Parent, MGW, MI, MSC, MHS, Surreal, MSA and MSLA, are referred to hereinafter each individually as
a “U.S. Credit Party” and individually and collectively, jointly and severally, as the
“U.S. Credit Parties”).

          WHEREAS, Borrowers, U.S. Credit Parties, Agent, and Lenders are parties to that certain Loan
and Security Agreement dated as of March 3, 2004 (as amended, modified or supplemented from time to
time, the “Loan Agreement”); and

          WHEREAS, Borrowers, U.S. Credit Parties, Agent and Lenders have agreed to amend the Loan
Agreement in certain respects, subject to the terms and conditions contained herein.

          NOW THEREFORE, in consideration of the premises and mutual agreements herein contained, the
parties hereto agree as follows:

          1. Defined Terms. Unless otherwise defined herein, capitalized terms used herein
shall have the meanings ascribed to such terms in the Loan Agreement.

          2. Amendment to Loan Agreement. Subject to the satisfaction of the conditions set
forth in Section 4 hereof, the Loan Agreement is amended by amending and restating Schedules 5.8(b)
and 5.8(c) to the Loan Agreement in its entirety as set forth on Exhibit A hereto.

          3. Ratification. This Amendment, subject to satisfaction of the conditions provided
below, shall constitute an amendment to the Loan Agreement and all of the Loan Documents as
appropriate to express the agreements contained herein. In all other respects, the Loan Agreement
and the Loan Documents shall remain unchanged and in full force and effect in accordance with their
original terms.

          4. Conditions to Effectiveness. This Amendment shall become effective as of the date
hereof and upon the satisfaction of the following conditions precedent:

          (a) Each party hereto shall have executed and delivered this Amendment to Agent;

          (b) Companies shall have delivered to Agent such documents, agreements and instruments as may
be requested or required by Agent in connection with this Amendment, each in form and content
acceptable to Agent;

 

 

          (c) No Default or Event of Default shall have occurred and be continuing on the date hereof or
as of the date of the effectiveness of this Amendment; and

          (d) All proceedings taken in connection with the transactions contemplated by this Amendment
and all documents, instruments and other legal matters incident thereto shall be satisfactory to
Agent and its legal counsel.

          5. Miscellaneous.

          (a) Warranties and Absence of Defaults. In order to induce Agent to enter into this
Amendment, each Company hereby warrants to Agent, as of the date hereof, that the representations
and warranties of Companies contained in the Loan Agreement as corrected by Exhibit A are true and
correct as of the date hereof as if made on the date hereof (other than those which, by their
terms, specifically are made as of certain dates prior to the date hereof).

          (b) Expenses. Companies, jointly and severally, agree to pay on demand all costs and
expenses of Agent (including the reasonable fees and expenses of outside counsel for Agent) in
connection with the preparation, negotiation, execution, delivery and administration of this
Amendment and all other instruments or documents provided for herein or delivered or to be
delivered hereunder or in connection herewith. All obligations provided herein shall survive any
termination of this Amendment and the Loan Agreement as amended hereby.

          (c) Governing Law. This Amendment shall be a contract made under and governed by the
internal laws of the State of Illinois.

          (d) Counterparts. This Amendment may be executed in any number of counterparts, and
by the parties hereto on the same or separate counterparts, and each such counterpart, when
executed and delivered, shall be deemed to be an original, but all such counterparts shall together
constitute but one and the same Amendment.

          6. Release.

          (a) In consideration of the agreements of Agent and Lenders contained herein and for other
good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, each
Company, on behalf of itself and its successors, assigns, and other legal representatives, hereby
absolutely, unconditionally and irrevocably releases, remises and forever discharges Agent and
Lenders, and their successors and assigns, and their present and former shareholders, affiliates,
subsidiaries, divisions, predecessors, directors, officers, attorneys, employees, agents and other
representatives (Agent, each Lender and all such other Persons being hereinafter referred to
collectively as the “Releasees” and individually as a “Releasee”), of and from all demands,
actions, causes of action, suits, covenants, contracts, controversies, agreements, promises, sums
of money, accounts, bills, reckonings, damages and any and all other claims, counterclaims,
defenses, rights of set-off, demands and liabilities whatsoever (individually, a “Claim” and
collectively, “Claims”) of every name and nature, known or unknown, suspected or unsuspected, both
at law and in equity, which such Company or any of its successors, assigns, or other legal
representatives may now or hereafter own, hold, have or claim to have against the Releasees or any
of them for, upon, or by reason of any circumstance, action, cause or thing whatsoever which arises
at any time on or prior to the day and date of this Amendment, including, without limitation, for
or on account of, or in relation to, or in any way in connection with any of the Loan Agreement, or
any of the other Loan Documents or transactions thereunder or related thereto.

          (b) Each Company understands, acknowledges and agrees that the release set forth above may be
pleaded as a full and complete defense and may be used as a basis for an injunction against

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any action, suit or other proceeding which may be instituted, prosecuted or attempted in
breach of the provisions of such release.

          (c) Each Company agrees that no fact, event, circumstance, evidence or transaction which could
now be asserted or which may hereafter be discovered shall affect in any manner the final, absolute
and unconditional nature of the release set forth above.

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          IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their
respective officers thereunto duly authorized and delivered as of the date first above written.

	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	MIDWAY HOME ENTERTAINMENT INC.,	 	 
	 	 	a Delaware corporation	 	 
	 
	 	 	 	 	 	 
	 	 	MIDWAY AMUSEMENT GAMES, LLC,	 	 
	 	 	a Delaware limited liability company	 	 
	 
	 	 	 	 	 	 
	 	 	MIDWAY GAMES INC.,	 	 
	 	 	a Delaware corporation	 	 
	 
	 	 	 	 	 	 
	 	 	MIDWAY GAMES WEST INC.,	 	 
	 	 	a California corporation	 	 
	 
	 	 	 	 	 	 
	 	 	MIDWAY INTERACTIVE INC.,	 	 
	 	 	a Delaware corporation	 	 
	 
	 	 	 	 	 	 
	 	 	MIDWAY SALES COMPANY, LLC,	 	 
	 	 	a Delaware limited liability company	 	 
	 
	 	 	 	 	 	 
	 	 	MIDWAY HOME STUDIOS INC.,	 	 
	 	 	a Delaware corporation	 	 
	 
	 	 	 	 	 	 
	 	 	SURREAL SOFTWARE INC.,	 	 
	 	 	a Washington corporation	 	 
	 
	 	 	 	 	 	 
	 	 	MIDWAY STUDIOS – AUSTIN INC.,	 	 
	 	 	a Texas corporation	 	 
	 
	 	 	 	 	 	 
	 	 	MIDWAY STUDIOS – LOS ANGELES INC.,	 	 
	 	 	a California corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	Each By
	 	/s/ Thomas E. Powell	 	 
	 

	 	 	 	 	 	 
	 	 	Title: Executive Vice President – Finance, Chief Financial Officer and
Treasurer	 	 

Signature page to Eighteenth Amendment to Loan and Security Agreement

 

 

	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	WELLS FARGO FOOTHILL, INC.,	 	 
	 	 	a California corporation, as Agent, as UK Security Trustee and as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	/s/ Peter Schuebler	 	 
	 

	 	 	 	 	 	 
	 	 	Title Vice President	 	 

Signature page to Eighteenth Amendment to Loan and Security Agreement

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