Document:

Exhibit

Exhibit 10.23

SIXTH AMENDMENT TO LOAN DOCUMENTS
THIS SIXTH AMENDMENT TO LOAN DOCUMENTS (the "Agreement") made effective as of the day of January 29, 2019 (the "Effective Date"), between REVERE HIGH YIELD FUND, LP, a Delaware limited partnership having an address of 2000 McKinney Avenue, Suite 2125, Dallas, Texas 75201, (the "Lender"), WHEELER REIT, L.P., a Virginia limited partnership having an office and place of business located at 2529 Virginia Beach Boulevard, Virginia Beach, Virginia 23452 (the "Borrower") and WHEELER REAL ESTATE INVESTMENT TRUST, INC., a Maryland corporation located at 2529 Virginia Beach Boulevard, Virginia Beach, Virginia 23452 on behalf of itself and on behalf of guarantors listed on Exhibit A hereto (herein together with successors and assigns, the "Guarantor"). By execution of this Agreement, Guarantor agrees and consents to be bound by all of the terms set forth herein.
WITNESSETH:
WHEREAS, Lender made a loan to Borrower (the "Loan") in the original principal amount of EIGHT MILLION AND 00/100 DOLLARS ($8,000,000.00), which Loan is evidenced by a Term Note in the amount of EIGHT MILLION AND 00/100 DOLLARS ($8,000,000.00) from Borrower to Lender dated as of April 8, 2016 (the "Note ");
WHEREAS, the Note was executed in connection with and secured by, among other things, (i) that certain Term Loan and Security Agreement dated as of April 8, 2016 by and between Borrower and Lender (the "Loan Agreement"); (ii) the Guaranty; (iii) the Mortgage; (iv) the Environmental Indemnity; and (viii) all other loan documents executed by Borrower in favor of Lender in connection with the Loan (all of the foregoing subparagraphs (i) through (viii), as from time to time thereafter amended or modified, collectively, the "Loan Documents");
WHEREAS, Borrower has requested that Lender extend the Maturity Date (as defined in the Loan Agreement) to April 1, 2019;
WHEREAS, all terms defined in the Loan Agreement are used herein with their defined meanings unless otherwise provided;
WHEREAS, Borrower and Lender are mutually desirous of making certain changes to the Loan Documents as set forth below; and
NOW, THEREFORE, in consideration of One ($1.00) Dollar and other valuable consideration, each to the other in hand paid, receipt thereof being hereby acknowledged, and in consideration of the mutual covenants herein contained, the parties hereto hereby agree as follows:

		
	1.
	The above recitals are true and correct and are incorporated into this Agreement.

		
	2.
	As of the date hereof, the outstanding principal balance of the Loan is $635,958.02.

		
	3.
	The first sentence of Section 2.03 of the Loan Agreement is hereby deleted in its entirety and replaced with the following: “The Maturity Date of the Term Loan is April 1, 2019”

		
	4.
	As consideration for Lender’s agreement to extend the Maturity Date to April 1, 2019, Borrower shall be obligated to pay Lender no later than the Maturity Date an extension fee of $20,000.00 ( the “Extension Fee”), which Extension Fee has been fully earned as of the date hereof, and Borrower shall, simultaneously with the execution of this Agreement, deliver, or cause to be delivered to Rogin Nassau LLC, $1,000.00 in immediately available funds on account of legal fees incurred in the preparation of this Agreement ("Legal Fees").

		
	5.
	Upon payment of the Legal Fees simultaneously with the execution of this Agreement, and contingent upon Lender’s receipt of the interest and principal payments due on the Loan on February 1, 2019,  the Maturity Date (as defined in the Loan Agreement) shall be extended to April 1, 2019.

		
	6.
	All of the other terms and conditions of the Loan Documents shall remain the same and in full force and effect, except as specifically amended herein. Borrower hereby reaffirms the Note, the Mortgage, the Loan Agreement and the other Loan Documents, and acknowledges that Borrower has no setoffs, counterclaims or defenses to any of the Loan Documents.

		
	7.
	Any default by Borrower in any of the covenants herein made shall, at the option of Lender, or its successors and assigns, constitute an Event of Default under the Loan Documents entitling Lender, or its successors or assigns, to any or all of the other remedies it or they may have thereunder.

		
	8.
	All of the remaining Borrower Collateral (as defined in the Loan Agreement) and the remaining Collateral (as defined in the Mortgage) shall remain in all respects subject to the lien, charge and encumbrance of the Loan Agreement and Mortgage, as the case may be, and nothing herein contained and nothing done pursuant hereto, shall affect or be construed to affect the lien, charge or encumbrance of the Loan Agreement and Mortgage, as the case may be or the priority thereof over all liens, charges or encumbrances, except as expressly provided herein.

		
	9.
	This Agreement shall be binding upon Borrower and any subsequent owner of the remaining Collateral or any part thereof (provided, however, that any provisions against sale or transfer contained in the Mortgage shall remain in full force and effect) and shall be binding and inure to the benefit of Lender, its successors and assigns, including any subsequent holder of the Mortgage or the Loan Documents.

		
	10.
	BORROWER, AND ANY SUBSEQUENT ENDORSER, GUARANTOR OR OTHER ACCOMMODATION MAKER, EACH HEREBY WAIVE PRESENTMENT, DEMAND FOR PAYMENT AND NOTICE OF DISHONOR, TOGETHER WITH ANY RIGHT TO A TRIAL 

BY JURY IN ANY ACTION WITH RESPECT TO THE NOTE, THE MORTGAGE, THE LOAN AGREEMENT, THE OTHER LOAN DOCUMENTS OR THIS AGREEMENT AND AS TO ANY ISSUES ARISING RELATING TO THE
NOTE, THE MORTGAGE, THE LOAN AGREEMENT, THE OTHER LOAN DOCUMENTS OR THIS AGREEMENT.
		
	11.
	All of the other terms and conditions of Guaranty and Environmental Indemnity shall remain the same and in full force and effect, except as specifically amended herein. Each Guarantor hereby consents to the terms of this Agreement and reaffirm his obligations under Guaranty and the Environmental Indemnity, agree that such Guaranty and Environmental Indemnity continue to be binding and enforceable obligations of the Guarantor, and acknowledge that Borrower has no setoffs, counterclaims or defenses to any of the Guaranty or Environmental Indemnity.

		
	12.
	This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all of which together shall constitute but one and the same Agreement.

		
	13.
	This Agreement shall be governed and construed by and interpreted in accordance with the laws of the State of Virginia, without regard to conflict of law provisions thereof

		
	14.
	As a material inducement to Lender to enter into this Agreement, Borrower and Guarantor hereby acknowledge, admit, and agree that, as of the date hereof, there exist no rights of offset, defense, counterclaim, claim, or objection in favor of Borrower or Guarantor against Lender with respect to the Note, the Loan Agreement or any of the other Loan Documents, or alternatively, that any and all such rights of offset, defense, counterclaim, claim, or objection which they may have or claim, of any nature whatsoever, whether known or unknown, are hereby expressly and irrevocably waived and released. Borrower and Guarantor hereby release and forever discharge Lender, its directors, officers, employees, administrators, subsidiaries, affiliates, attorneys, agents, successors, and assigns from any and all rights, claims, demands, actions, causes of action, suits, proceedings, agreements, contracts, judgments, damages, debts, costs, expenses, promises, agreements, duties, liabilities, or obligations, whether in law or in equity, known or unknown, choate or inchoate, which they had, now have, or hereafter may have, arising under or in any manner relating to, whether directly or indirectly, the Note, the Loan Agreement, any other Loan Document or any transaction contemplated by any Loan Document or this Agreement, from the beginning of time until the date of full execution and delivery hereof.

[Remainder of Page Intentionally Left Blank]

IN WITNESS WHEREOF, the undersigned have caused this Agreement to be executed, sealed and delivered the day and year first above written.

LENDER:
        

REVERE HIGH YIELD FUND, LP,
a Delaware limited partnership

By:  Revere GP, LP, its General Partner

By: Revere Capital Corp. 
Its: General Partner

                                                                           By:   /s/ Clark Briner 

Name:  Clark Briner
Its:  Sole Shareholder
            
BORROWER:

WHEELER REIT, L.P., a Virginia limited partnership

By: Wheeler Real Estate Investment Trust, Inc., 
a Maryland corporation,
By: Its General Partner

By: /s/ David Kelly
David Kelly
Its Chief Executive Officer

GUARANTOR:

WHEELER REAL ESTATE INVESTMENT TRUST, INC., a Maryland corporation

By: /s/ David Kelly
David Kelly
Its Chief Executive Officer

SIGNATURE PAGE TO SIXTH AMENDMENT TO LOAN DOCUMENTS

HARBOR POINT ASSOCIATES, LLC, a Virginia limited liability company
By: Wheeler REIT, L.P.,
a Virginia limited partnership,
its sole member and its member manager
By: Wheeler Real Estate Investment Trust, Inc.,
a Maryland corporation, its general partner
By:    /s/ David Kelly
David Kelly
Its Chief Executive Officer
NORTHPOINTE INVESTORS, LLC, a Virginia limited liability company
By: Wheeler REIT, L.P.,
a Virginia limited partnership,
its sole member and its member manager
By: Wheeler Real Estate Investment Trust, Inc.,
a Maryland corporation, its general partner

By:    /s/ David Kelly
David Kelly
Its Chief Executive Officer

SIGNATURE PAGE TO SIXTH AMENDMENT TO LOAN DOCUMENTS

RIVERSEDGE OFFICE ASSOCIATES, LLC, a Virginia limited liability company
By: Wheeler REIT, L.P.,
a Virginia limited partnership,
its sole member and its member manager
By: Wheeler Real Estate Investment Trust, Inc.,
a Maryland corporation, its general partner

By:    /s/ David Kelly
David Kelly
Its Chief Executive Officer

SIGNATURE PAGE TO SIXTH AMENDMENT TO LOAN DOCUMENTS

SURREY PLAZA ASSOCIATES, LLC, a Virginia limited liability company
By: Wheeler REIT, L.P,
a Virginia limited partnership,
its sole member and its member manager
By: Wheeler Real Estate Investment Trust, Inc.,
a Maryland corporation, its general partner

By:    /s/ David Kelly
David Kelly
Its Chief Executive Officer

SIGNATURE PAGE TO SIXTH AMENDMENT TO LOAN DOCUMENTS

DF I-COURTLAND, LLC,  
a Virginia limited liability company
By: Wheeler REIT, L.P.,
a Virginia limited partnership,
its sole member and its member manager
By: Wheeler Real Estate Investment Trust, Inc.,
a Maryland corporation, its general partner

By:    /s/ David Kelly
David Kelly
Its Chief Executive Officer

DF I-MOYOCK II, LLC,
a Virginia limited liability company
By: Wheeler REIT, L.P.,
a Virginia limited partnership,
its sole member and its member manager
By: Wheeler Real Estate Investment Trust, Inc.,
a Maryland corporation, its general partner

By:    /s/ David Kelly
David Kelly
Its Chief Executive Officer

SIGNATURE PAGE TO SIXTH AMENDMENT TO LOAN DOCUMENTS

WD-III ASSOCIATES, LLC, a Virginia limited liability company
By: Wheeler REIT, L.P.,
a Virginia limited partnership,
its sole member and its member manager
By: Wheeler Real Estate Investment Trust, Inc.,
a Maryland corporation, its general partner

By:    /s/ David Kelly
David Kelly
Its Chief Executive Officer

WHLR-BERKLEY, LLC, a Virginia limited liability company
By: Wheeler REIT, L.P.,
a Virginia limited partnership,
its sole member and its member manager
By: Wheeler Real Estate Investment Trust, Inc.,
a Maryland corporation, its general partner

By:    /s/ David Kelly
David Kelly
Its Chief Executive Officer

SIGNATURE PAGE TO SIXTH AMENDMENT TO LOAN DOCUMENTS

LUMBER RIVER ASSOCIATES, LLC a Virginia limited partnership
By: Lumber River Management, LLC, a Virginia limited
partnership
Its: Managing Member
By: Wheeler REIT, L.P., a Virginia limited partnership Its: Sole Member
By: Wheeler Real Estate Investment Trust, Inc., a
Maryland corporation
Its: General Partner

By:    /s/ David Kelly
David Kelly
Its Chief Executive Officer

SIGNATURE PAGE TO SIXTH AMENDMENT TO LOAN DOCUMENTS

TUCKERNUCK ASSOCIATES, LLC, a Virginia limited liability company
By: Wheeler REIT, L.P.,
a Virginia limited partnership,
its sole member and its member manager
By: Wheeler Real Estate Investment Trust, Inc.,
a Maryland corporation, its general partner

By:    /s/ David Kelly
David Kelly
Its Chief Executive Officer

WHLR-BROOK RUN PROPERTY, LLC, a Virginia limited liability company

By:    /s/ David Kelly
David Kelly
Its Chief Executive Officer

SIGNATURE PAGE TO SIXTH AMENDMENT TO LOAN DOCUMENTSExhibit

Form 6342 (10-2015)

FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

This First Amendment to Amended and Restated Credit Agreement (“Amendment”) is made and entered into effective the 14th day of December, 2018, by and between Dakota Ethanol, L.L.C., a South Dakota limited liability company (hereinafter referred to as “Borrower”) and Farm Credit Services of America, PCA and Farm Credit Services of America, FLCA (each and collectively “Lender”) to amend and modify the Amended and Restated Credit Agreement dated February 2, 2018 (hereinafter referred to as the “Credit Agreement”).  The Credit Agreement and underlying Loan Documents are modified only to the extent necessary to give effect to the terms of this Amendment, and the remaining terms of said Loan Documents, not otherwise inconsistent herewith, are ratified by the parties.  Capitalized terms used but not otherwise defined herein have the respective meanings given to them in the Credit Agreement.

In consideration of the mutual agreements, provisions and covenants herein contained, and furthermore to induce Lender to consider financial accommodations for the Borrower under the terms and provisions of the Credit Agreement, the parties hereby agree as follows:

		
	1.
	Exhibit ‘B’ Compliance Certificate is hereby replaced with the attached Exhibit ‘B’.

		
	2.
	The following Section is hereby amended to read as follows:

Section 6.12.2 Debt Service Coverage Ratio. 
Borrower agrees to maintain a Debt Service Coverage Ratio of 1.25:1.00, measured at fiscal year-end. “Debt Service Coverage Ratio” shall be defined as [net profit plus depreciation and amortization, minus gain (loss) on sale of fixed assets] divided by $1,000,000.00 for fiscal years 2018 and 2019.  For fiscal year 2020 and thereafter, the Debt Service Coverage Ratio shall be defined as [net profit plus depreciation and amortization, minus gain (loss) on sale of fixed assets] divided by $4,500,000.00. 

Borrower hereby represents and warrants to the Lender that, after giving effect to this Amendment, (i) no Default or Event of Default exists under the Credit Agreement or any of the other Loan Documents and (ii) the representations and warranties set forth in the Credit Agreement are true and correct in all material respects as of the date hereof (except for those which expressly relate to an earlier date).

Borrower hereby ratifies the Credit Agreement as amended and acknowledges and reaffirms (i) that it is bound by all terms of the Credit Agreement applicable to it and (ii) that it is responsible for the observance and full performance of its respective obligations.

Borrower hereby certifies that the person(s) executing this Amendment on behalf of Borrower is/are duly authorized to execute such document on behalf of Borrower and that there have been no changes in the name, ownership, control, organizational documents, or legal status of the Borrower since the last application, loan, or loan servicing action; that all resolutions, powers and authorities remain in full force and effect, and that the information provided by Borrower is and remains true and correct.

This Amendment may be executed by the parties hereto in several counterparts, each of which shall be deemed to be an original and all of which shall constitute one and the same agreement.  Delivery of executed counterparts of this Amendment by telecopy shall be effective as an original and shall constitute a representation that an original shall be delivered.

THIS AMENDMENT SHALL BE DEEMED TO BE A CONTRACT MADE UNDER AND GOVERNED BY THE INTERNAL LAWS OF THE STATE OF NEBRASKA. A CREDIT AGREEMENT MUST BE IN WRITING TO BE ENFORCEABLE UNDER NEBRASKA LAW.  TO PROTECT YOU AND US FROM ANY MISUNDERSTANDINGS OR DISAPPOINTMENTS, ANY CONTRACT, PROMISE, UNDERTAKING OR OFFER TO FOREBEAR REPAYMENT OF MONEY OR TO MAKE ANY OTHER FINANCIAL ACCOMMODATION IN CONNECTION WITH THIS AMENDMENT MUST BE IN WRITING TO BE EFFECTIVE.

Form 6342 (10-2015)

This Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.

IN WITNESS WHEREOF, the parties hereto have set their hand effective the day and year first above written.

BORROWER:

Dakota Ethanol, L.L.C.,
a South Dakota limited liability company

 
By:   /s/ Scott Mundt                               
         Scott Mundt, Chief Executive Officer     
                
Address for Notice: P.O. Box 100, Wentworth, South Dakota 57075

LENDER:

Farm Credit Services of America, PCA and
Farm Credit Services of America, FLCA

By:    /s/ Alisha Cobb, VP        

Name:    Alisha Cobb            

Title:    VP                

Address for Notice:  5015 S 118th Street, PO Box 2409, Omaha, NE 68103-2409 United States

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