Document:

Master Agreement

 Exhibit 10.1 
 MASTER AGREEMENT 
 This AGREEMENT (“Agreement”) is dated as of
June 30, 2011 by and among Advanced BioEnergy, LLC, a Delaware limited liability company (“ABE”), Clean Energy Capital, LLC, a Delaware limited liability company (“CEC”), Ethanol Investment Partners, LLC, a Delaware limited
liability company (“EIP”), Ethanol Capital Partners, LP – Series R, a Delaware limited partnership, Ethanol Capital Partners, LP – Series T, a Delaware limited partnership, Ethanol Capital Partners, LP – Series V, a Delaware
limited partnership, and Tennessee Ethanol Partners, LP, a Delaware limited partnership (each limited partnership is referred to as a “CEC Partnership” and collectively the “CEC Partnerships”; and the CEC Partnerships and EIP are
collectively referred to as the “CEC Obligors”). 
 RECITALS: 

WHEREAS, pursuant to a Settlement Agreement dated as of June 30, 2011, (as defined in Section 11 of this Agreement), ABE and
CEC have settled all open issues related to (i) pending arbitration against ABE brought by Revis L. Stephenson III, a former officer of ABE, (“Stephenson Arbitration”); (ii) litigation brought by Stephenson against CEC and Scott
Brittenham (“Brittenham”) , a director of ABE and an officer of CEC (the “Stephenson Lawsuit”); and (iii) the payment of legal fees by ABE in satisfaction of the claims for indemnification in the Stephenson Lawsuit by
Brittenham; 
 WHEREAS, under the terms of the Settlement Agreement, (i) ABE agreed to pay $3.4 million to Stephenson, and
(ii) CEC in its capacity as general partner of the CEC Partnerships and as sole manager of EIP agreed that the CEC Obligors will jointly and severally reimburse ABE for $450,000 of the $3.4 million; and 

WHEREAS, ABE has agreed to pay legal fees and costs of Brittenham and CEC in the Stephenson Lawsuit, and the CEC Obligors have agree to
reimburse ABE for a portion of these legal fees and costs. 
 NOW, THEREFORE, in consideration of the foregoing, ABE, CEC and
the CEC Obligors hereby agree as follows: 
 1. Payment by ABE to Stephenson. ABE agrees that it will pay Stephenson $3.4
million pursuant to the Settlement Agreement. 
 2. Payment of Legal Fees and Costs. 

a. ABE agrees to pay on June 30, 2011, $80,000 in legal fees and costs incurred by Brittenham and CEC in the
Stephenson Lawsuit, in complete satisfaction of ABE’s indemnification obligations to Brittenham in connection with the Stephenson Lawsuit. 
 b. The CEC Obligors agree to reimburse ABE for $40,000 of these legal fees and costs, which fees and costs have been added to the Note (as defined below). 

 3. Promissory Note. Each CEC Obligor agrees to enter into the Promissory Note dated
as of the date hereof for $490,000 (“Note”), in substantially the form attached as Exhibit A, representing (i) $450,000 as partial payment and reimbursement for ABE payments to Stephenson under the Settlement Agreement and in
full satisfaction of all obligations owed by the CEC Obligors pursuant to the Settlement Agreement, and (ii) $40,000 for partial reimbursement to ABE for legal fees and costs of CEC, Brittenham and the CEC Obligors. 

4. Pledge Agreement. Each CEC Obligor agrees to enter into and deliver to ABE a pledge agreement (the “Pledge”) in
substantially the Form attached as Exhibit B and an Assignment separate from Certificate in the Form attached as Exhibit B-1. 
 5. Guarantee by CEC. CEC agrees to deliver to ABE a guarantee of the Note obligations of the CEC Obligors (“Guarantee”), in substantially the Form attached as Exhibit C.

 6. Representations and Warranties by CEC and CEC Obligors. CEC and the CEC Obligors hereby represent, warrant and
covenant to ABE, that as of the date hereof 
 a. Each of CEC and the CEC Obligors are duly organized, validly
existing and in good standing under the laws of the State of Delaware; 
 b. CEC and each CEC Obligor, as
appropriate, has full power and authority to execute and deliver this Agreement, the Note, the Pledge, and the Guarantee, to perform its respective obligations hereunder and under each agreement, and the individual parties signing on behalf of CEC
and the CEC Obligors have been fully authorized to execute each of these documents on behalf of those parties; 

c. No authorization, approval, or other action by, and no notice to or filing with, any governmental authority or
regulatory body is required for the execution and delivery of this Agreement, the Note; the Pledge, or the Guarantee, or the performance of the respective obligations thereunder; 

d. Except as set forth in Section 18 of the Pledge, the entering into and performance of this Agreement and the
transactions contemplated hereby do not conflict with any other agreement to which CEC or the CEC Obligors are a party; and 
 e . CEC and each CEC Obligor will substantially benefit from the financial accommodations provided pursuant to this Agreement. 
 7. Representations and Warranties by ABE. ABE hereby represents, warrants and covenants to CEC and the CEC Obligors that as of the date hereof: 

a. ABE is duly organized, validly existing and in good standing under the laws of the State of Delaware; 

b. ABE has the full power and authority to execute and deliver this Agreement and to perform its respective obligations
hereunder, and the individual parties signing on behalf of ABE have been fully authorized to execute this Agreement on behalf of ABE; 

  
 2 

 c. No authorization, approval, or other action by, and no notice to or
filing with, any governmental authority or regulatory body is required for the payment by ABE of the amount under the Settlement Agreement or payment by ABE of the CEC legal fees and costs; and 

d. The entering into and performance of this Agreement and the transactions related hereto do not conflict with any other
agreement to which ABE is a party. 
 8. Amendments. No amendment or waiver of any provision of this Agreement or consent
to any departure by ABE, CEC or any of the CEC Obligors herefrom, will in any event be effective unless the amendment, waiver or consent is in writing and signed by that party. 

9. Addresses for Notices. All notices and other communications provided for hereunder shall be in writing and, if to CEC, or any
of the CEC Obligors, sent by a nationally recognized overnight courier service to: 
 Scott Brittenham 

Clean Energy Capital, LLC 
 5151 East Broadway 
 Suite 510 

Tucson, AZ 85711 

With a copy to 

Tonya Mitchem Grindon 
 Baker, Donelson, Bearman, Caldwell & Berkowitz, PC. 
 211 Commerce Street,
Suite 800 
 Nashville, TN 37201 
 and, if to ABE, sent by a nationally recognized overnight courier service to ABE at: 
 Advanced BioEnergy, LLC 
 Attention: President 

8000 Norman Center Drive 
 Suite 610 
 Bloomington, MN 55437 

With a copy to: 

Stanley J. Duran 

Lindquist & Vennum P.L.L.P. 
 4200 IDS Center 
 80 South 8th Street 

Minneapolis, MN 55402 

  
 3 

 or as to either party at such other address as shall be designated by such party in a written notice to the
other party complying with the delivery terms of this Section 9. All such notices and other communications shall, when appropriately couriered, be effective when delivered by the courier. 

10. Governing Law; Terms. This Agreement shall be governed by, and construed in accordance with the, laws of the State of
Minnesota except as required by mandatory provisions of law. 
 11. Settlement Agreement; Conflicts. This Agreement, the
Note, the Pledge and Guarantee, and any financing statements are being executed in connection with this Agreement, the Note, the Pledge and the Guarantee (collectively the “Loan Documents”) are being executed in connection with that
certain Settlement Agreement dated as of June 30, 2011, among ABE and CEC and other parties (the “Settlement Agreement”), and the parties hereto acknowledge and agree that no release of claims under the Settlement Agreement shall
release, terminate, abrogate or otherwise affect the ongoing validity or enforceability of any or all of the Loan Documents. This Agreement will become effective concurrently with the effectiveness of the Settlement Agreement. If any conflict exists
between the terms of this Agreement and the Settlement Agreement, the terms of the Settlement Agreement are controlling. If any conflict exists between the terms of this Agreement and any of the other Loan Documents, then the terms of the applicable
Loan Document will be controlling. 
 IN WITNESS WHEREOF, the ABE, CEC and the CEC Obligors have caused this Agreement to be
duly executed and delivered by their respective officers thereunto duly authorized as of the date first above written. 
  

					
	ADVANCED BIOENERGY, LLC
			
		 	By:	 	   /s/ Richard R. Peterson

		 	Name:	 	   Richard R. Peterson

		 	Its:	 	   Chief Executive Officer

	
	CLEAN ENERGY CAPITAL, LLC
			
		 	By:	 	   /s/ Scott Brittenham

		 	Name:	 	   Scott Brittenham

		 	Its:	 	   President

	
	ETHANOL INVESTMENT PARTNERS, LLC
	By:	 	Clean Energy Capital, LLC
	Its:	 	Manager
			
		 	By:	 	   /s/ Scott Brittenham

		 	Name:	 	   Scott Brittenham

		 	Its:	 	   President

  
 4 

					
	ETHANOL CAPITAL PARTNERS, LP – SERIES R
	By:	 	Clean Energy Capital, LLC
	Its:	 	General Partner
			
		 	By:	 	   /s/ Scott Brittenham

		 	Name:	 	   Scott Brittenham

		 	Its:	 	   President

	
	ETHANOL CAPITAL PARTNERS, LP – SERIES T
	By:	 	Clean Energy Capital, LLC
	Its:	 	General Partner
			
		 	By:	 	   /s/ Scott Brittenham

		 	Name:	 	   Scott Brittenham

		 	Its:	 	   President

	
	ETHANOL CAPITAL PARTNERS, LP – SERIES V
	By:	 	Clean Energy Capital, LLC
	Its:	 	General Partner
			
		 	By:	 	   /s/ Scott Brittenham

		 	Name:	 	   Scott Brittenham

		 	Its:	 	   President

	
	TENNESSEE ETHANOL PARTNERS, LP
	By:	 	Clean Energy Capital, LLC
	Its:	 	General Partner
			
		 	By:	 	   /s/ Scott Brittenham

		 	Name:	 	   Scott Brittenham

		 	Its:	 	   President

  
 5Promissory Note

 Exhibit 10.2 
 PROMISSORY NOTE 
  

			
	$490,000.00	 	Bloomington, Minnesota
		 	June 30, 2011

 FOR VALUE RECEIVED, the undersigned Ethanol Capital Partners, LP – Series R, a Delaware limited
partnership, Ethanol Capital Partners, LP – Series T, a Delaware limited partnership, Ethanol Capital Partners, LP – Series V, a Delaware limited partnership, Ethanol Investment Partners, LLC, a Delaware limited liability company and
Tennessee Ethanol Partners, LP, a Delaware limited partnership (collectively, the “Borrowers”) hereby jointly and severally promise to pay to the order of Advanced BioEnergy, LLC, a Delaware limited liability company (the
“Lender”) at its office at 8000 Norman Center Drive, Suite 610, Bloomington, Minnesota 55437, the principal sum of Four Hundred Ninety Thousand and no/100 Dollars ($490,000.00), or so much thereof as is outstanding hereunder, in lawful
money of the United States of America and in immediately available funds, and to pay fees, costs and interest on said principal sum or the unpaid balance thereof, in like money at said office. 

As security for their performance under this Note, Borrowers have executed a Pledge Agreement of even date herewith (“Pledge
Agreement”) pursuant to which Borrowers have pledged to Lender the following (collectively, the “Collateral”), which includes but is not limited to: all of the units of membership interest in Lender held by the Borrowers; all
dividends and distributions on such holdings; and, all proceeds of such holdings, dividends and distributions. In the event of a sale of any of the Collateral by the Borrowers, the proceeds of such sale shall be paid immediately and directly to
Lender as payment on this Note. In the event of any dividends, distributions or redemptions made with respect to the Collateral by Lender, such amounts will be retained by Lender and treated as a payment on this Note. Otherwise, this Note, including
Fees (defined below), interest and principal, shall be due and payable in full on July 1, 2016, or such earlier date upon which Borrowers or any one of them defaults under this Note or under the Pledge Agreement (the earliest of such dates
being the “Maturity Date”). Payments on this Note shall be applied in the following order: to Fees, interest and then principal. 
 Interest on this Note shall accrue on the outstanding balance hereof at a rate equal to the Prime Rate, as such rate will be adjusted annually, and is due and payable on the Maturity Date. Notwithstanding
the foregoing, interest on this Note shall accrue on the outstanding balance hereof at a rate equal to the Prime Rate plus 4.0% from and after the Maturity Date. The term “Prime Rate” shall mean the rate of interest published in the Money
Rates Section of The Wall Street Journal as the “Prime Rate,” or if for any reason such rate is no longer published, the Prime Rate shall mean the rate intended by The Wall Street Journal to replace its previously published
Prime Rate. Changes in the Prime Rate shall be deemed to occur on the date of publication of said change, and any applicable rate hereunder shall be adjusted effective on the date of such change. Interest shall be calculated on the basis of the
actual number of days elapsed over a year of 365 days on a simple interest basis. If any payment on this Note becomes due and payable on a Saturday, Sunday, or business holiday in the State of Minnesota, the payment date thereof shall be extended to
the next succeeding business day. 

  
 1 

 In addition to all of the other sums payable hereunder, the Borrower also agrees to pay to
the holder hereof on demand, all costs and expenses (including reasonable attorneys’ fees) which may be incurred in the enforcement of any obligation of Borrower hereunder (collectively, the “Fees”). 

Borrowers shall be deemed to be in default hereunder if they default in the timely payment of any amount due hereunder, or if an
“Event of Default” occurs under the Pledge Agreement, as that term is defined in the Pledge Agreement. Upon such default, all amounts outstanding on this Note will become immediately due and payable without presentment, demand, protest or
any notice of any kind, all of which are hereby expressly waived. 
 The Borrowers’ liabilities and obligations under this
Note shall be joint and several. 
 THIS NOTE SHALL BE GOVERNED BY THE INTERNAL LAWS OF THE STATE OF MINNESOTA EXCEPT TO THE
EXTENT SUPERSEDED BY FEDERAL LAW. THE BORROWERS HEREBY CONSENT TO THE EXCLUSIVE JURISDICTION OF ANY STATE OR FEDERAL COURT LOCATED IN HENNEPIN COUNTY, MINNESOTA AND WAIVE ANY OBJECTION BASED ON FORUM NON CONVENIENS WITH REGARD TO ANY ACTIONS,
CLAIMS, DISPUTES OR PROCEEDINGS RELATING TO THIS NOTE, OR ANY TRANSACTION RELATING TO OR ARISING FROM THIS NOTE, OR ENFORCEMENT AND/OR INTERPRETATION OF ANY OF THE FOREGOING. NOTHING HEREIN SHALL LIMIT THE LENDER’S RIGHT TO BRING PROCEEDINGS
AGAINST THE BORROWERS IN THE COMPETENT COURTS OF ANY OTHER JURISDICTION. 
 THE BORROWERS AND THE LENDER HEREBY WAIVE ANY AND
ALL RIGHT TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING RELATING TO THIS NOTE, OR ANY TRANSACTION RELATING TO OR ARISING FROM THIS NOTE. 

  
 2 

					
	ETHANOL CAPITAL PARTNERS, LP – SERIES R
	 By:
	 	 Clean Energy Capital, LLC

	 Its:
	 	 General Partner

			
		 	 By:
	 	   /s/ Scott Brittenham

		 	 Name:
	 	   Scott Brittenham

		 	 Its:
	 	   President

  

					
	STATE OF	 	  
	 	)
		 		 	) ss.
	COUNTY OF	 	  
	 	)

 Before me, the undersigned authority, on this day personally appeared
                    
                    the
                     of Clean Energy Capital, LLC, which entity is the General Partner of Ethanol Capital Partners, LP – Series R, and
such person is known to me to be the person whose name is subscribed to the foregoing instrument, and upon his oath acknowledged to me that he executed the same for the purposes and consideration therein expressed and in the capacity therein stated.

 Given under my hand and seal of office this      day of June, 2011. 

 

	
	  

	Notary Public
	
	(SEAL)

  
 3 

					
	ETHANOL CAPITAL PARTNERS, LP – SERIES T
	 By:
	 	 Clean Energy Capital, LLC

	 Its:
	 	 General Partner

			
		 	 By:
	 	   /s/ Scott Brittenham

		 	 Name:
	 	   Scott Brittenham

		 	 Its:
	 	   President

  

					
	STATE OF	 	  
	 	)
		 		 	) ss.
	COUNTY OF	 	  
	 	)

 Before me, the undersigned authority, on this day personally appeared
                    
                    the
                     of Clean Energy Capital, LLC, which entity is the General Partner of Ethanol Capital Partners, LP – Series T, and
such person is known to me to be the person whose name is subscribed to the foregoing instrument, and upon his oath acknowledged to me that he executed the same for the purposes and consideration therein expressed and in the capacity therein stated.

 Given under my hand and seal of office this      day of June, 2011. 

 

	
	  

	Notary Public
	
	(SEAL)

  
 4 

					
	ETHANOL CAPITAL PARTNERS, LP – SERIES V
	 By:
	 	 Clean Energy Capital, LLC

	 Its:
	 	 General Partner

			
		 	 By:
	 	   /s/ Scott Brittenham

		 	 Name:
	 	   Scott Brittenham

		 	 Its:
	 	   President

  

					
	STATE OF	 	  
	 	)
		 		 	) ss.
	COUNTY OF	 	  
	 	)

 Before me, the undersigned authority, on this day personally appeared
                    
                    the
                     of Clean Energy Capital, LLC, which entity is the General Partner of Ethanol Capital Partners, LP – Series V, and
such person is known to me to be the person whose name is subscribed to the foregoing instrument, and upon his oath acknowledged to me that he executed the same for the purposes and consideration therein expressed and in the capacity therein stated.

 Given under my hand and seal of office this      day of June, 2011. 

 

	
	  

	Notary Public
	
	(SEAL)

  
 5 

					
	 ETHANOL INVESTMENT PARTNERS, LLC

	 By:
	 	 Clean Energy Capital, LLC

	 Its:
	 	 Manager

			
		 	 By:
	 	   /s/ Scott Brittenham

		 	 Name:
	 	   Scott Brittenham

		 	 Its:
	 	   President

  

					
	STATE OF	 	  
	 	)
		 		 	) ss.
	COUNTY OF	 	  
	 	)

 Before me, the undersigned authority, on this day personally appeared
                    
                    the
                     of Clean Energy Capital, LLC, which entity is the Manager of Ethanol Investment Partners, LLC, and such person is known
to me to be the person whose name is subscribed to the foregoing instrument, and upon his oath acknowledged to me that he executed the same for the purposes and consideration therein expressed and in the capacity therein stated. 

Given under my hand and seal of office this      day of June, 2011. 

 

	
	  

	Notary Public
	
	(SEAL)

  
 6 

					
	 TENNESSEE ETHANOL PARTNERS, LP

	 By:
	 	 Clean Energy Capital, LLC

	 Its:
	 	 General Partner

			
		 	 By:
	 	   /s/ Scott Brittenham

		 	 Name:
	 	   Scott Brittenham

		 	 Its:
	 	   President

  

					
	STATE OF	 	  
	 	)
		 		 	) ss.
	COUNTY OF	 	  
	 	)

 Before me, the undersigned authority, on this day personally appeared
                    
                    the
                     of Clean Energy Capital, LLC, which entity is the General Partner of Tennessee Ethanol Partners, LP, and such person is
known to me to be the person whose name is subscribed to the foregoing instrument, and upon his oath acknowledged to me that he executed the same for the purposes and consideration therein expressed and in the capacity therein stated. 

Given under my hand and seal of office this      day of June, 2011. 

 

	
	  

	Notary Public
	
	(SEAL)

  
 7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00191-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00191-of-00352.parquet"}]]