Document:

Exhibit 10.11

  

FIRST AMENDMENT TO ASSIGNMENT OF NOTES
AND DEEDS OF TRUST

 

This First Amendment
to Assignment of Notes and Deeds of Trust (this “Amendment”) is made as of December 18, 2020 by and among PACIFIC
ETHANOL CENTRAL, LLC, a Delaware limited liability company (“PEC”), and COBANK, ACB, a federally-chartered instrumentality
of the United States (the “Administrative Agent”) for the Pekin Lenders (defined below) and ICP Lenders (defined
below). The Administrative Agent, the Pekin Lenders, and the ICP Lenders are collectively referred to herein as the “Lender
Parties”.

 

WHEREAS, PACIFIC ETHANOL
PEKIN, LLC, a Delaware limited liability company (“Pekin”), COMPEER FINANCIAL, PCA, a federally-chartered instrumentality
of the United States, successor by merger to 1st Farm Credit Services, PCA, as a Lender, and COBANK, ACB, a federally-chartered
instrumentality of the United States, as Agent, are parties to a Credit Agreement, dated as of December 15, 2016 (as amended, restated,
supplemented, or otherwise modified from time to time, the “Pekin Credit Agreement”) pursuant to which the Pekin
Lenders have made and may make advances and extend other financial accommodations to Pekin (the “Pekin Loan”).
The lenders under the Pekin Credit Agreement are referred to herein as the “Pekin Lenders”;

 

WHEREAS, ILLINOIS CORN
PROCESSING, LLC, a Delaware limited liability company (“ICP” and together with Pekin collectively, the “Borrowers”),
COMPEER FINANCIAL, PCA, a federally-chartered instrumentality of the United States, as a Lender, and COBANK, ACB, a federally-chartered
instrumentality of the United States, as Cash Management Provider and Agent, are parties to a Credit Agreement, dated as of
September 15, 2017 (as amended, restated, supplemented, or otherwise modified from time to time, the “ICP Credit Agreement”
and together with the Pekin Credit Agreement, the “Credit Agreements”) pursuant to which the ICP Lenders have
made and may make advances and extend other financial accommodations to ICP (the “ICP Loan” and together with
the Pekin Loan, the “Loans”). The lenders under the ICP Credit Agreement are referred to herein as the “ICP Lenders,”
and the Pekin Lenders and the ICP Lenders are collectively referred to herein as the “Lenders”;

 

WHEREAS, PEC and Pacific
Aurora, LLC, a Delaware limited liability company (“PAL”) entered into that certain Assignment of Notes and
Deeds of Trust, dated April 15, 2020 (as may be amended, restated, supplemented, or otherwise modified from time to time, the “Assignment”)
for the benefit of the Lenders;

 

WHEREAS, the Borrowers
and the Lender Parties desire to amend the Credit Agreements and as a condition to entering into such amendments and continuing
to extend such credit to the Borrowers, the Lender Parties have required the execution and delivery of this Amendment to amend
the Assignment as set forth herein;

 

WHEREAS, the Assignment
provides that it may be amended in a writing signed by the party against whom enforcement is sought, in this case PEC; and

 

WHEREAS, PEC will receive
substantial direct and indirect benefit from entering into this Amendment.

 

NOW, THEREFORE, for
Ten Dollars ($10.00) in hand paid to PEC and in consideration of the premises and mutual covenants herein contained and other good
and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

  

Section 1. Acknowledgments
and Agreements. PEC hereby acknowledges and agrees as follows:

 

(a) Recitals.
The Recitals to this Amendment are true and correct, and are hereby incorporated into and made a part of this Amendment and
the Assignment.

 

(b) Defined
Terms. Unless otherwise defined in this Amendment, all capitalized terms used herein as defined terms shall have the
meanings given to them in the Assignment.

 

     

     

    

 

Section 2. Amendments
to the Assignment.

 

(a)
Section 2(c) of the Assignment is amended by amending and restating such section in its entirety:

 

“(c)
Upon the Payment in Full of the Obligations (as such terms are defined in the Credit Agreements), or upon the earlier payment
in full by PAL of the outstanding principal of the Notes and all accrued but unpaid interest thereon, Administrative Agent
shall reassign (the “Reassignment”) to PEC the Notes and the Deeds of Trust assigned to Administrative
Agent hereby; provided, however, that all reasonable out-of-pocket costs and expenses incurred by Administrative Agent in the
ordinary course of business as a result of or in connection with the Reassignment shall be reimbursed to Administrative Agent
by PEC; and further provided that the Reassignment shall be made without recourse, warranty or any other obligation to or
liability incurred by Administrative Agent, other than to the extent of gross negligence or willful misconduct on the part of
the Administrative Agent as such is determined by a final, non-appealable judgment by a court of competent jurisdiction. The
Reassignment shall be effectuated by execution of documents reasonably acceptable to Administrative Agent and PEC in both
form and substance.”

 

(b)
Section 6(a) of the Assignment is amended by amending and restating such section in its entirety:

 

“(a)
shall use its best efforts to cause PAL to observe and perform all of the covenants, terms, conditions and agreements
contained in the Notes and the Deeds of Trust. Other than in connection with the repayment in full of the Notes, without the
express written consent of Administrative Agent, PEC shall not release or excuse the liability of any of the obligations
under the Notes and the Deeds of Trust;”

 

Section 3. Representations
and Warranties. PEC hereby represents and warrants to the Lender Parties as follows:

 

(a) PEC
has all requisite power and authority, corporate or otherwise, to execute and deliver this Amendment. This Amendment has been
duly and validly executed and delivered to the Lender Parties by PEC, and this Amendment and the Assignment as amended hereby
and the other Loan Documents constitute PEC’s legal, valid, and binding obligations enforceable in accordance with
their respective terms.

 

(b) The
execution, delivery, and performance by PEC of this Amendment, and the performance of the Assignment as amended hereby, have
been duly authorized by all necessary corporate action and do not and will not (i) require any authorization, consent or
approval by any Governmental Authority, (ii) violate PEC’s organizational documents or any provision of any law, rule,
regulation, or order presently in effect having applicability to PEC, (iii) result in a breach of or constitute a default
under any indenture or agreement to which PEC is party or by which it or its properties may be bound or affected, or (iv)
result in, or require, the creation or imposition of any Lien of any nature upon or with respect to any of the properties now
owned or hereafter acquired by PEC (other than as required under the Loan Documents in favor of the Lender Parties).

 

Section 4. Miscellaneous.
This Amendment is a Loan Document. This Amendment shall be governed by, and construed in accordance with, the laws of the
State of Colorado (other than its conflicts of laws rules). This Amendment, together with the Assignment amended hereby and
the other Loan Documents, comprise the final and complete integration of all prior expressions by the parties hereto with
respect to the subject matter hereof and shall constitute the entire agreement among the parties hereto with respect to such
subject matter, superseding all prior oral or written understandings. In the event of any conflict between this Amendment and
the Credit Agreements, the Credit Agreements shall control. This Amendment is subject to the provisions of the Credit
Agreements relating to submission to jurisdiction, venue, service of process and waiver of right to trial by jury, the
provisions which are by this reference incorporated herein in full. Any provision of this Amendment which is prohibited or
unenforceable shall be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining
provisions hereof. Section headings in this Amendment are included herein for convenience of reference only and shall not
constitute a part of this Amendment for any other purpose. This Amendment may be executed in any number of counterparts, each
of which when so executed and delivered shall be deemed to be an original and all of which counterparts, taken together,
shall constitute but one and the same instrument. Delivery of an executed counterpart of a signature page to this Amendment
by facsimile or by e-mail transmission of a PDF or similar copy shall be equally as effective as delivery of an original
executed counterpart of this Amendment. Any party delivering an executed counterpart signature page by facsimile or by e-mail
transmission shall also deliver an original executed counterpart, but the failure to deliver an original executed counterpart
shall not affect the validity, enforceability or binding effect of this Amendment. PEC hereby authorizes the Lender Parties
to amend any previously filed UCC-1 financing statements to reflect the changes to the grant of security interest made
effective by this Amendment.

 

[Signature pages follow.]

 

    2

     

    

 

IN WITNESS WHEREOF,
the parties hereto have caused this Amendment to be executed as of the date first above written.

 

	 	PACIFIC ETHANOL CENTRAL, LLC
	 	 
	 	By: 	/s/ Bryon T. McGregor
	 	Name:  	Bryon T. McGregor
	 	Title: 	Chief Financial Officer

 

Signature Page to First Amendment to
Assignment of Notes and Deeds of Trust

 

     

     

    

  

	 	COBANK, ACB, as Agent
	 	 
	 	By: 	/s/ Corey North
	 	Name:  	Corey North
	 	Title: 	Assistant Corporate Secretary

 

Signature Page to First Amendment to
Assignment of Notes and Deeds of TrustDocument

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY [***], HAS BEEN OMITTED BECAUSE IT IS BOTH (I) NOT MATERIAL AND (II) WOULD LIKELY CAUSE COMPETITIVE HARM IF PUBLICLY DISCLOSED.

Exhibit 10.1

Amendment 
to the Supply Agreement
between 
Chimerix, Inc.
and 
Scientific Protein Laboratories, LLC

This Amendment (the “Amendment”) to the Agreement (defined below) is made and entered into on the 16th day of December, 2020 (the “Effective Date”), by and between Chimerix, Inc, a Delaware corporation with offices at 2505 Meridian Parkway, Suite 100, Durham, NC 27713 (hereinafter referred to as “Chimerix”) and Scientific Protein Laboratories., a DE limited liability company, with offices located at 700 East Main Street, Milwaukee, WI (hereinafter referred to as “SPL”, together with Chimerix each a “Party” and collectively the “Parties”).

WHEREAS, Chimerix and SPL are parties to that certain Supply Agreement between Cantex, Inc. and SPL dated the 5th of October 2015 and subsequently assigned to Chimerix, Inc., on the 26th of July 2019 (the “Agreement”); 

WHEREAS, Chimerix and SPL now desire to amend and supplement the terms of the Agreement as more particularly set forth below; 

NOW, THEREFORE, Chimerix and SPL wish to clarify certain purchase obligations under, as well as extend the term of, the Agreement and the Parties agree as follows:

1.Within 10 days of the date of the Effective Date to this Amendment, Chimerix will issue a P.O. for 10 kg of DSTAT API (“API”) at a price of $[***], and SPL shall complete manufacturing and release of the API no later than August 31, 2021, with delivery to occur immediately thereafter.

2.Chimerix will issue and SPL shall accept, a P.O. for the purchase of an additional 20 kg of API at a price of $[***] upon the earlier of: 
(i)   acceptance by the US FDA of Chimerix’s NDA filing for the use of DSTAT in the treatment of AML (P.O. to be issued within 30 days thereafter), or
(ii)   December 31, 2023.  

3.The obligation to purchase DSTAT in connection with financing activities in the Preliminary Period (set forth in Section 2.5(a) of the Agreement) is not presently in effect, and the following sentence is hereby deleted from the Agreement:

“However if Cantex receives $20 million or more of net proceeds from any financing activities in the Preliminary Period, in one or more series of financing transactions, within thirty days of receipt of such amount, Cantex shall issue a binding purchase order for an additional 30 kg of API to be delivered in one year from such date.”

A-1

4.Section 11.1 (TERM) is hereby deleted and replaced in its entirety as follows:
11.1   Term.  This Agreement shall commence on the Effective Date and, unless earlier terminated in accordance with the terms and conditions of this Agreement, shall continue in effect until October 5, 2040 (the “Term”).

5. Except as otherwise expressly provided in this Amendment, all of the terms and conditions of the Agreement remain unchanged and in full force and effect.  Capitalized terms not otherwise defined in this Amendment will have the meanings ascribed to them in the Agreement. 
6.This Amendment constitutes the entire agreement and understanding between the Parties to this Amendment and supersedes all prior communications, contracts, or agreements between these Parties with respect to the subject matter addressed in this Amendment, whether oral or written.

[Signature Page to Follow]
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IN WITNESS WHEREOF, Chimerix and SPL have executed and delivered this Amendment effective as of the Effective Date.

AGREED TO AND ACCEPTED BY:
						
	Chimerix, Inc.:	Scientific Protein Laboratories, LLC.
		
	By:/s/ Mike Sherman                                          
	By:/s/ Yan Wang                                                  

		
	Printed Name: Mike Sherman                            
	Printed Name: Yan Wang                                    

		
	Title: CEO                                                          
	Title: President                                                     

		
	Date: December 16, 2020                                   
	Date: December 18, 2020                                    

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