Document:

Exhibit 101

		
			Exhibit 10.1
		

		
			SEVENTH AMENDMENT TO the CREDIT aGReement
		

		
			This Seventh Amendment to the Credit Agreement ("Amendment") is dated as of October ___, 2018, between by and among GREEN PLAINS CATTLE COMPANY LLC (the "Borrower"), the commercial, banking or financial institutions whose signatures appear on the signature pages hereof or which hereafter become parties to the Credit Agreement (as defined below) (and such commercial, banking or financial institutions are sometimes referred to hereinafter collectively as the "Lenders" and individually as a "Lender"), and BANK OF THE WEST and ING CAPITAL, LLC, as "Joint Administrative Agent").  Borrower, Lenders, and the Joint Administrative Agent agree as follows: 
		

		
			PRELIMINARY STATEMENT.  Borrower, Lenders, and the Joint Administrative Agent    entered into that certain Credit Agreement dated as of December 3, 2014 (that credit agreement as amended herein and by any and all other modifications or amendments thereto is hereinafter referred to as the "Credit Agreement"; the terms defined in the Credit Agreement are used herein as therein defined).  Borrower, Lenders, and the Joint Administrative Agent wish to amend certain provisions of the Credit Agreement. 
		

		
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			NOW, THEREFORE, the parties hereto agree as follows:
		

			
	
			
				 Section 1.01
			Amendment to Section 11.01 of the Credit Agreement.  Section 11.01 of the Credit Agreement is hereby amended and restated as follows:

		
			11.01Amendments, Etc.    
		

		
			No amendment or waiver of any provision of this Agreement or any other Loan Document, and no consent to any departure by the Borrower therefrom, shall be effective unless in writing signed by the Required Lenders (or by the Joint Administrative Agent with the consent of the Required Lenders) and the Borrower, as the case may be, and acknowledged by the Joint Administrative Agent, and each such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given; provided, however, that no such amendment, waiver or consent shall:
		

		
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			(a)waive any condition set forth in Section 4.01 or, in the case of the initial Credit Extension, Section 4.02, without the written consent of each Lender;
		

		
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			(b)extend or increase the Commitment of any Lender (or reinstate any Commitment terminated pursuant to Section 8.02) without the written consent of such Lender (it being understood and agreed that a waiver of any condition precedent in Section 4.02 or of any Default or a mandatory reduction in Commitments is not considered an extension or increase in Commitments of any Lender);
		

		
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			(c)postpone any date fixed by this Agreement or any other Loan Document for any payment (excluding mandatory prepayments) of principal, interest, fees or other amounts due to the Lenders (or any of them) hereunder or under such other Loan Document without the written consent of each Lender entitled to such payment;
		

		
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		(d)reduce the principal of, or the rate of interest specified herein on, any Loan or L/C Borrowing, or (subject to clause (iv)(v) of the second proviso to this Section 11.01) any fees or other amounts payable hereunder or under any other Loan Document, or change the manner of computation of the Borrowing Base (including any change in any applicable defined term) used in determining the Applicable Rate that would result in a reduction of any interest rate on any Loan or any fee payable hereunder without the written consent of each Lender entitled to such amount; provided,  however, that only the consent of the Required Lenders shall be necessary to amend the definition of “Default Rate” or to waive any obligation of the Borrower to pay interest or Letter of Credit Fees  at the Default Rate; 
		

		
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			(e)change Section 8.03 in a manner that would alter the pro rata sharing of payments required thereby without the written consent of each Lender;  
		

		
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			(f)change any provision of this Section 11.01 or the definition of “Required Lenders” or any other provision of any Loan Document specifying the number or percentage of Lenders required to amend, waive or otherwise modify any rights hereunder or thereunder or make any determination or grant any consent hereunder, without the written consent of each Lender;
		

		
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			(g)release all or substantially all of the Collateral in any transaction or series of related transactions, without the written consent of each Lender; 
		

		
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			(h)release the Borrower or permit the Borrower to assign or transfer any of its rights or obligations under this Agreement or the other Loan Documents without the consent of each Lender;
		

		
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			(i)impose any greater restriction on the ability of any Lender under the Revolving Facility to assign any of its rights or obligations hereunder without the written consent of the Required  Lenders;
		

		
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			and provided,  further, that (i) no amendment, waiver or consent shall, unless in writing and signed by the L/C Issuer in addition to the Lenders required above, affect the rights or duties of the L/C Issuer under this Agreement or any Issuer Document relating to any Letter of Credit issued or to be issued by it; (ii) no amendment, waiver or consent shall, unless in writing and signed by the Swingline Lender in addition to the Lenders required above, affect the rights or duties of the Swingline Lender under this Agreement; (iii) no amendment, waiver or consent shall, unless in writing and signed by the Joint Administrative Agent in addition to the Lenders required above, affect the rights or duties of the Joint Administrative Agent under this Agreement or any other Loan Document; (iv) the Autoborrow Agreement and any fee letters executed in connection therewith may be amended, or rights or privileges thereunder waived, in a writing executed only by the parties thereto and (v) the Fee Letter may be amended, or rights or privileges thereunder waived, in a writing executed only by the parties thereto and (vi) the term L/C Commitment may be amended pursuant to a fully executed (and delivered to the Joint Administrative Agent) Notice of Additional L/C Issuer.  Notwithstanding anything to the contrary herein, (A) no Defaulting Lender shall have any 
		

		 

		

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		right to approve or disapprove any amendment, waiver or consent hereunder (and any amendment, waiver or consent which by its terms requires the consent of all Lenders or each affected Lender, or all Lenders or each affected Lender under the Revolving Facility, may be effected with the consent of the applicable Lenders other than Defaulting Lenders), except that (1) the Commitment of any Defaulting Lender may not be increased or extended nor any principal or interest on any revolving loan is reduced or waived without the consent of such Lender and (2) any waiver, amendment or modification requiring the consent of all Lenders or each affected Lender, or all Lenders or each affected Lender under the Revolving Facility, that by its terms affects any Defaulting Lender disproportionately adversely relative to other affected Lenders shall require the consent of such Defaulting Lender; (B) each Lender is entitled to vote as such Lender sees fit on any bankruptcy reorganization plan that affects the Loans, and each Lender acknowledges that the provisions of Section 1126(c) of the Bankruptcy Code of the United States supersedes the unanimous consent provisions set forth herein and (C) the Required Lenders shall determine whether or not to allow the Borrower to use cash collateral in the context of a bankruptcy or insolvency proceeding and such determination shall be binding on all of the Lenders. 
		

		
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			Notwithstanding anything to the contrary herein the Joint Administrative Agent may, with the prior written consent of the Borrower only, amend, modify or supplement this Agreement or any of the other Loan Documents to cure any ambiguity, omission, mistake, defect or inconsistency.
		

		
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			If any Lender does not consent to a proposed amendment, waiver, consent or release with respect to any Loan Document that requires the consent of each Lender and that has been approved by the Required Lenders, the Borrower may replace such Non-Consenting Lender in accordance with Section 11.13;  provided that such amendment, waiver, consent or release can be effected as a result of the assignment contemplated by such Section (together with all other such assignments required by the Borrower to be made pursuant to this paragraph).
		

		
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			Notwithstanding anything to the contrary in this Section 11.01 or this Agreement, the Joint Administrative Agent are hereby irrevocably authorized by each of the Lenders,  in the Joint Administrative Agent sole discretion, to (1) release any Term Loan Priority Collateral, as required under the Term ICA; (2) release any Guarantor related to any release of any Term Loan Priority Collateral and/or (3) release the Guaranty upon the termination of the Term Loan Agreement and repayment of all obligations owed by GPI under the Term Loan Agreement.
		

		
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				 Section 1.02
			Representations and Warranties of Borrower .

		
			(a)Borrower is duly organized, validly existing and in good standing under the laws of the State of its formation.
		

		
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			(b)The execution, delivery and performance by Borrower  of this Amendment and the Credit Agreement, as amended hereby, are within Borrower's powers, have been duly authorized by all necessary action, if necessary, and do not contravene Borrower's operating agreement, or any law or any contractual restriction binding on or affecting Borrower , as applicable, or result in, or require, the creation of any lien, security interest or other charge or encumbrance upon or with respect to any of the properties.
		

		
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		(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 due execution, delivery and performance by Borrower  of this Amendment and the Credit Agreement, as amended hereby.  
		

		
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			(d)This Amendment and the Credit Agreement, as amended hereby, constitute, legal, valid and binding obligations of Borrower  enforceable against Borrower  in accordance with their respective terms.
		

		
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			(e)No event listed in Section 8.01 of the Credit Agreement has occurred and is continuing.
		

			
	
			
				 Section 1.03
			Effectiveness.  This Amendment shall become effective when the Joint Administrative Agent has received (a) counterparts of this Amendment duly executed by the Borrower and the Lenders; (b)  an opinion of counsel for the Borrower, as to such matters as reasonably requested by the Joint Administrative Agent; (c) counterparts of this Amendment, duly acknowledged by the Guarantors; and (d) such other documents, actions or assurances as Lenders or the Joint Administrative Agent may reasonably request. 

			
	
			
				 Section 1.04
			Reference to and Effect on the Credit Agreement.  Upon the effectiveness of Section 1.03 hereof:

			
	
			
				 (a)
			On and after the date hereof, each reference in the Credit Agreement to "this Agreement", "hereunder" "hereof", "herein" or words of like import shall mean and be a reference to the Credit Agreement as amended hereby.

			
	
			
				 (b)
			Except as specifically amended by any prior amendments, the Credit Agreement shall remain in full force and effect and is hereby ratified and confirmed.

			
	
			
				 (c)
			The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of Lender under the Credit Agreement, nor constitute a waiver of any provision of the Credit Agreement.

			
	
			
				 Section 1.05
			Execution in Counterparts.  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 taken together shall constitute but one and the same instrument.

			
	
			
				 Section 1.06
			Governing Law.  This Amendment shall be governed by, and construed in accordance with, the laws (without giving effect to the conflicts of laws principles thereof) of the State of Nebraska.

			
	
			
				 Section 1.07
			Expenses.  The Borrower  shall pay on demand all costs and expenses incurred by Lenders in connection with the preparation, execution, delivery, filing, and administration of this Amendment (including, without limitation, Attorneys’ Costs incurred in connection with the preparation of this Amendment and advising Lender as to its rights, and the cost of any credit verification reports or field examinations of the Borrower ’ properties or books and records).  The Borrower's obligations to Lenders under this Section 1.07 shall survive termination of this Amendment and repayment of the Borrower’s Obligations to Lenders under the Credit Agreement.

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

		
			
		

		
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						GREEN PLAINS CATTLE COMPANY LLC

				
	
					
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						By:

					
					
						/s/ Phil Boggs

				
	
					
						Name:

					
					
						Phil Boggs

				
	
					
						Title:

					
					
						Vice President, Finance & Treasurer

				

		
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						BANK OF THE WEST, as Joint Administrative Agent

				
	
					
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						By:

					
					
						/s/ Sidney Jordan

				
	
					
						Name:

					
					
						Sidney Jordan

				
	
					
						Title:

					
					
						Managing Director

				
	
					
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						BANK OF THE WEST, as Swingline Lender, and Lender

				
	
					
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						By:

					
					
						/s/ Sidney Jordan

				
	
					
						Name:

					
					
						Sidney Jordan

				
	
					
						Title:

					
					
						Managing Director

				

		
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						ING CAPITAL LLC, as Joint Administrative Agent, L/C Issuer, and Lender

				
	
					
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						By:

					
					
						/s/ Dan Lamprecht

				
	
					
						Name:

					
					
						Dan Lamprecht

				
	
					
						Title:

					
					
						Managing Director

				
	
					
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						and

				
	
					
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						By:

					
					
						/s/ Renata Medeiros

				
	
					
						Name:

					
					
						Renata Medeiros

				
	
					
						Title:

					
					
						Vice President

				

		
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						RABO AGRIFINANCE LLC, Lender

				
	
					
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						By:

					
					
						/s/ Deborah Asberry-Chua

				
	
					
						Name:

					
					
						Deborah Asberry-Chua

				
	
					
						Title:

					
					
						Vice President

				

		
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						FARM CREDIT SERVICES OF AMERICA, PCA, Lender

				
	
					
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						By:

					
					
						/s/ Judson J. Jesske

				
	
					
						Name:

					
					
						Judson J. Jesske

				
	
					
						Title:

					
					
						Vice President

				

		
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						FCS COMMERCIAL FINANCE GROUP, for AGCOUNTRY FARM CREDIT SERVICES, PCA, Lender

				
	
					
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						By:

					
					
						/s/ Nee Ly

				
	
					
						Name:

					
					
						Nee Ly

				
	
					
						Title:

					
					
						AVP

				

		
			 
		

		

		

		 

		

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						BANK OF AMERICA, N.A., Lender

				
	
					
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						By:

					
					
						/s/ Kory Clark

				
	
					
						Name:

					
					
						Kory Clark

				
	
					
						Title:

					
					
						Senior Vice President

				

		

		

		 

		

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						AMERICAN AGCREDIT, PCA, Lender

				
	
					
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						By:

					
					
						/s/ Dennis P. Regli

				
	
					
						Name:

					
					
						Dennis P. Regli

				
	
					
						Title:

					
					
						SVP – Underwriting Manager - Corporate

				

		

		

		 

		

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						INTRUST BANK, N.A., Lender

				
	
					
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						By:

					
					
						/s/ Ryan Reh

				
	
					
						Name:

					
					
						Ryan Reh

				
	
					
						Title:

					
					
						Commercial Relationship Manager

				

		

		

		 

		

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						AG COUNTRY FARM CREDIT SERVICES, FLCA, Lender

				
	
					
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						By:

					
					
						/s/ Nicole Schwartz

				
	
					
						Name:

					
					
						Nicole Schwartz

				
	
					
						Title:

					
					
						Vice President

				

		
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						FARM CREDIT MID-AMERICA, PCA, Lender

				
	
					
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						By:

					
					
						/s/ Steven Moore

				
	
					
						Name:

					
					
						Steven Moore

				
	
					
						Title:

					
					
						Vice President

				

		

		

		 

		

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						GREENSTONE FARM CREDIT SERVICES, ACA, Lender

				
	
					
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						By:

					
					
						/s/ Jeff Pavlik

				
	
					
						Name:

					
					
						Jeff Pavlik

				
	
					
						Title:

					
					
						Managing Director

				

		
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		GUARANTOR ACKNOWLEDGEMENT
		

		
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			The undersigned hereby consent to this Amendment and further acknowledge and agree that their respective Guaranty remains in full force and effect.
		

		
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						GREEN PLAINS INC.

				
	
					
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						By:

					
					
						/s/ Phil Boggs

				
	
					
						Name:

					
					
						Phil Boggs

				
	
					
						Title:

					
					
						Vice President, Finance & Treasurer

				

		
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						GREEN PLAINS I LLC

				
	
					
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						By:

					
					
						/s/ Phil Boggs

				
	
					
						Name:

					
					
						Phil Boggs

				
	
					
						Title:

					
					
						Vice President, Finance & Treasurer

				

		
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						GREEN PLAINS II LLC

				
	
					
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						By:

					
					
						/s/ Phil Boggs

				
	
					
						Name:

					
					
						Phil Boggs

				
	
					
						Title:

					
					
						Vice President, Finance & Treasurer

				

		
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						FEISCHMANN’S VINEGAR COMPANY, INC.

				
	
					
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						By:

					
					
						/s/ Phil Boggs

				
	
					
						Name:

					
					
						Phil Boggs

				
	
					
						Title:

					
					
						Vice President, Finance & Treasurer

				

		
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						GREEN PLAINS AGRICULTURAL AND ENERGY FUND

				
	
					
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						By:

					
					
						/s/ Phil Boggs

				
	
					
						Name:

					
					
						Phil Boggs

				
	
					
						Title:

					
					
						Vice President, Finance & Treasurer

				

		
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						GREEN PLAINS ASET MANAGEMENT LLC

				
	
					
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						By:

					
					
						/s/ Phil Boggs

				
	
					
						Name:

					
					
						Phil Boggs

				
	
					
						Title:

					
					
						Vice President, Finance & Treasurer

				

		
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						GREEN PLAINS GRAIN COMPANY TN LLC

				
	
					
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						By:

					
					
						/s/ Phil Boggs

				
	
					
						Name:

					
					
						Phil Boggs

				
	
					
						Title:

					
					
						Vice President, Finance & Treasurer

				

		
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						GREEN PLAINS INDUSTRIAL CLEANING SERVICES LLC

				
	
					
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						By:

					
					
						/s/ Phil Boggs

				
	
					
						Name:

					
					
						Phil Boggs

				
	
					
						Title:

					
					
						Vice President, Finance & Treasurer

				

		
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						GREEN PLAINS TRUCKING LLC

				
	
					
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						By:

					
					
						/s/ Phil Boggs

				
	
					
						Name:

					
					
						Phil Boggs

				
	
					
						Title:

					
					
						Vice President, Finance & Treasurer

				

		
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						GREEN PLAINS HREFORD LLC

				
	
					
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						By:

					
					
						/s/ Phil Boggs

				
	
					
						Name:

					
					
						Phil Boggs

				
	
					
						Title:

					
					
						Vice President, Finance & Treasurer

				

		
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						GREEN PLAINS HOPEWELL LLC

				
	
					
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						By:

					
					
						/s/ Phil Boggs

				
	
					
						Name:

					
					
						Phil Boggs

				
	
					
						Title:

					
					
						Vice President, Finance & Treasurer

				

		
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						GREEN PLAINS MADISON LLC

				
	
					
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						By:

					
					
						/s/ Phil Boggs

				
	
					
						Name:

					
					
						Phil Boggs

				
	
					
						Title:

					
					
						Vice President, Finance & Treasurer

				

		
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						GREEN PLAINS MOUNT VERNON LLC

				
	
					
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						By:

					
					
						/s/ Phil Boggs

				
	
					
						Name:

					
					
						Phil Boggs

				
	
					
						Title:

					
					
						Vice President, Finance & Treasurer

				

		
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						GREEN PLAINS YORK LLC

				
	
					
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						By:

					
					
						/s/ Phil Boggs

				
	
					
						Name:

					
					
						Phil Boggs

				
	
					
						Title:

					
					
						Vice President, Finance & Treasurer

				

		
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						GREEN PLAINS PROCESSING LLC

				
	
					
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						By:

					
					
						/s/ Phil Boggs

				
	
					
						Name:

					
					
						Phil Boggs

				
	
					
						Title:

					
					
						Vice President, Finance & Treasurer

				

		
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						GREEN PLAINS ATKINSON LLC

				
	
					
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						By:

					
					
						/s/ Phil Boggs

				
	
					
						Name:

					
					
						Phil Boggs

				
	
					
						Title:

					
					
						Vice President, Finance & Treasurer

				

		
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						GREEN PLAINS BLUFFTON LLC

				
	
					
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						By:

					
					
						/s/ Phil Boggs

				
	
					
						Name:

					
					
						Phil Boggs

				
	
					
						Title:

					
					
						Vice President, Finance & Treasurer

				

		
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						GREEN PLAINS CENTRAL CITY LLC

				
	
					
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						By:

					
					
						/s/ Phil Boggs

				
	
					
						Name:

					
					
						Phil Boggs

				
	
					
						Title:

					
					
						Vice President, Finance & Treasurer

				

		
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						GREEN PLAINS COMMODITIES LLC

				
	
					
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						By:

					
					
						/s/ Phil Boggs

				
	
					
						Name:

					
					
						Phil Boggs

				
	
					
						Title:

					
					
						Vice President, Finance & Treasurer

				

		
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						GREEN PLAINS CORN OIL LLC

				
	
					
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						By:

					
					
						/s/ Phil Boggs

				
	
					
						Name:

					
					
						Phil Boggs

				
	
					
						Title:

					
					
						Vice President, Finance & Treasurer

				

		
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						GREEN PLAINS FAIRMONT LLC

				
	
					
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						By:

					
					
						/s/ Phil Boggs

				
	
					
						Name:

					
					
						Phil Boggs

				
	
					
						Title:

					
					
						Vice President, Finance & Treasurer

				

		
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						GREEN PLAINS HOLDINGS II LLC

				
	
					
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						By:

					
					
						/s/ Phil Boggs

				
	
					
						Name:

					
					
						Phil Boggs

				
	
					
						Title:

					
					
						Vice President, Finance & Treasurer

				

		
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						GREEN PLAINS OBION LLC

				
	
					
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						By:

					
					
						/s/ Phil Boggs

				
	
					
						Name:

					
					
						Phil Boggs

				
	
					
						Title:

					
					
						Vice President, Finance & Treasurer

				

		
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						﻿

					
					
						 

				

		

		

		 

		

			39

		

 

		
		

			
					
						GREEN PLAINS ORD LLC

				
	
					
						﻿

					
					
						 

				
	
					
						By:

					
					
						/s/ Phil Boggs

				
	
					
						Name:

					
					
						Phil Boggs

				
	
					
						Title:

					
					
						Vice President, Finance & Treasurer

				

		
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						﻿

					
					
						 

				

		

		

		 

		

			40

		

 

		
		

			
					
						GREEN PLAINS OTTER TAIL LLC

				
	
					
						﻿

					
					
						 

				
	
					
						By:

					
					
						/s/ Phil Boggs

				
	
					
						Name:

					
					
						Phil Boggs

				
	
					
						Title:

					
					
						Vice President, Finance & Treasurer

				

		
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						﻿

					
					
						 

				

		

		

		 

		

			41

		

 

		
		

			
					
						GREEN PLAINS SHENANDOAH LLC

				
	
					
						﻿

					
					
						 

				
	
					
						By:

					
					
						/s/ Phil Boggs

				
	
					
						Name:

					
					
						Phil Boggs

				
	
					
						Title:

					
					
						Vice President, Finance & Treasurer

				

		
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						﻿

					
					
						 

				

		

		

		 

		

			42

		

 

		
		

			
					
						GREEN PLAINS SUPERIOR LLC

				
	
					
						﻿

					
					
						 

				
	
					
						By:

					
					
						/s/ Phil Boggs

				
	
					
						Name:

					
					
						Phil Boggs

				
	
					
						Title:

					
					
						Vice President, Finance & Treasurer

				

		
			﻿
		

		
			﻿
		

			
					
						﻿

					
					
						 

				

		

		

		 

		

			43

		

 

		
		

			
					
						GREEN PLAINS WOOD RIVER LLC

				
	
					
						﻿

					
					
						 

				
	
					
						By:

					
					
						/s/ Phil Boggs

				
	
					
						Name:

					
					
						Phil Boggs

				
	
					
						Title:

					
					
						Vice President, Finance & Treasurer

				

		
			﻿
		

		 

		

			44Exhibit 102

		
			Exhibit 10.2
		

		
			GUARANTY AGREEMENT
		

		
			THIS GUARANTY AGREEMENT (this “Agreement”) is entered into as of October 8, 2018, by GREEN PLAINS INC., a Delaware corporation (“Guarantor”), for the benefit of VALERO RENEWABLE FUELS COMPANY, LLC (“Buyer”).  Terms used but not defined herein shall have the meanings assigned to them in the APA (as defined below).
		

		
			RECITALS
		

		
			A.GREEN PLAINS BLUFFTON LLC and GREEN PLAINS HOLDINGS II LLC (collectively, “Obligor”), have entered into that certain Asset Purchase Agreement dated as of October 8, 2018 with Buyer for the sale and purchase of the Purchased Assets comprising the Ethanol Plants (the “APA”)
		

		
			B.Obligor and Seller have entered into or will enter into the Transaction Documents.
		

		
			C.As a condition precedent to Closing under the APA and the execution and delivery of the Transaction Documents, Seller requires the execution of this Agreement.
		

		
			D.Guarantor, directly or indirectly, owns all of the equity interests in Obligor.
		

		
			NOW THEREFORE, as a material inducement to Buyer to enter into the APA and the Transaction Documents with Obligor, and in consideration of the foregoing Recitals, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Guarantor agrees as follows:
		

		
			ARTICLE I
REPRESENTATIONS AND WARRANTIES OF GUARANTOR
		

		
			Guarantor hereby represents and warrants to Buyer as follows:
		

		
			Section 1.1   Organization and Qualification. Guarantor is a Delaware corporation, duly organized, validly existing and in good standing under the laws of Delaware.
		

		
			Section 1.2    Due Authority.  The execution, delivery and performance of this Agreement have been duly authorized by all necessary corporate action and do not violate, breach or contravene Guarantor’s governing documents.  This Agreement has been duly and validly executed and delivered by Guarantor and constitutes a legal, valid and binding obligation of Guarantor enforceable in accordance with its terms, except as enforcement may be limited by (i) applicable bankruptcy, insolvency, moratorium, reorganization, fraudulent conveyance and other similar laws affecting enforcement of creditors’ rights generally and (ii) principles of equity affecting the availability of specific performance and other equitable remedies.
		

		
			
		

		 

		

			1

		

 

		Section 1.3    Solvency.  There are no bankruptcy, insolvency, reorganization, receivership or similar procedures pending with respect to, being contemplated by or, to the knowledge of Guarantor, threatened against Guarantor.  Guarantor is not insolvent and will not be rendered insolvent as a result of execution of this Agreement.  Guarantor has the financial capacity to perform all of its obligations under this Agreement.
		

		
			Section 1.4    Consideration. Guarantor has received adequate consideration for entering into this Agreement, including the execution of the APA and the other Transaction Documents by Buyer and Obligor, and the undertaking of the Obligations (as defined below) by Obligor.
		

		
			ARTICLE II
GUARANTY OF OBLIGATIONS
		

		
			Section 2.1    Guaranty.
		

		
			(a)Subject to any rights, setoffs, counterclaims, and any other defenses that the Guarantor expressly reserves to itself under this Agreement, Guarantor hereby unconditionally, absolutely and irrevocably guarantees to Buyer the due and punctual payment by Obligor of all amounts payable by Obligor under the APA and the other Transaction Documents (all such obligations, terms and provisions as now or hereafter in existence being collectively called the “Obligations”), whether according to the present terms thereof, or pursuant to any change in the terms, covenants and conditions thereof at any time hereafter made or granted, including pursuant to any amendments, extensions or renewals of the APA, the other Transaction Documents or the Obligations. Guarantor agrees and acknowledges that no amendment, extension or renewal of the APA, the other Transaction Documents or the Obligations will discharge or otherwise affect the liability of Guarantor under this Agreement.  Guarantor shall not be liable hereunder for special, consequential, exemplary, tort or other damages except to the extent the same comprise Obligations.
		

		
			(b)In the event that Obligor shall fail in any manner whatsoever to pay the Obligations, when and as the same shall be required to be paid under the terms of the APA or the other Transaction Documents, Guarantor will itself, in accordance with the terms of the APA or other Transaction Documents, duly and punctually pay such Obligations, or cause the same to be duly and punctually paid as if Guarantor were itself the obligor with respect to such Obligations under the APA or the other Transaction Documents, as applicable. All sums payable to Buyer under this Agreement shall be paid within ten (10) Business Days after Buyer’s demand for payment is received, in immediately available funds in lawful money of the United States of America.
		

		
			Section 2.2    No Demand or Notice.
		

		
			(a)It shall not be a condition to the guarantees and agreements set forth in Section 2.1 (the “Guaranty”) that Buyer shall have first made any request of, or demand upon, or given any notice of the occurrence of a default under the APA or the other Transaction Documents 
		

		 

		

			2

		

 

		(unless such notice is specifically required under the APA or the other Transaction Documents) or any other notice whatsoever to, Guarantor or Obligor or any other person, or shall have instituted any action or proceeding against Obligor or any other person in respect thereof, or shall have joined Obligor in any such action or proceeding.
		

		
			(b)Buyer, in asserting the benefit of the Guaranty shall give prompt notice to Guarantor of any failure by Obligor to pay, perform or observe any Obligation; provided, however, that any failure, delay (subject to applicable statutes of limitations) or defect in the giving of such notice shall not alter or affect the Guaranty under this Agreement.
		

		
			Section 2.3    Waiver of Resort to Security. Guarantor further agrees that this Agreement constitutes a continuing guarantee of payment when due and not a guarantee of collection, and Guarantor waives any right to require as a condition to its Guaranty that any resort be had by Buyer to any security held for the payment of any Obligation.
		

		
			Section 2.4    No Discharge. The Guaranty is and shall remain absolute and unconditional irrespective of any circumstance that might otherwise constitute a legal or equitable discharge of a surety or guarantor, as the case may be, with respect to its Guaranty.
		

		
			Section 2.5    Waivers by Guarantor.
		

		
			(a)Guarantor hereby waives with respect to its Guaranty but without prejudice to the rights of the parties to the APA or the other Transaction Documents, any notice of acceptance of this Agreement by Buyer, grace, presentment, demand, protest, notice of the occurrence of a default under the APA or the other Transaction Documents and any other notices of any kind whatsoever and promptness in making any claim or demand hereunder (subject to applicable statutes of limitations).
		

		
			(b)The Guaranty shall not be affected by (i) any extension or modification of the APA, the other Transaction Documents or any agreement related to the foregoing, (ii) any rescission, waiver, amendment or modification of any of the terms or provisions of the APA, the other Transaction Documents or of any agreement related to the foregoing, including any change in the time, manner or place of payment or performance of any of the obligations under the APA or the other Transaction Documents or (iii) the release of any security held for payment of any Obligations.
		

		
			Section 2.6    No Reduction. The Guaranty shall not be subject to any reduction, limitation, impairment or termination for any reason, including any claim of waiver, release, surrender, alteration or compromise, and shall not be subject to any defense or set-off, counterclaim, recoupment or termination whatsoever, except as provided in Section 2.9.
		

		
			Section 2.7    Enforcement. Notwithstanding anything herein to the contrary, Buyer may proceed to enforce the Guaranty against Guarantor without first pursuing or exhausting any right or remedy that Buyer or any of its successors or assigns may have against Obligor or any other person.
		

		

		

		 

		

			3

		

 

		Section 2.8    Continued Effectiveness. The Guaranty shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of any Obligation of Obligor is rescinded or must otherwise be restored or returned by the person receiving such payment upon the insolvency, bankruptcy or reorganization of Obligor, all as though such payment or part thereof had not been made.
		

		
			Section 2.9    Certain Defenses. Nothing herein is intended to deny to Guarantor, and it is expressly agreed that Guarantor shall have and may assert, any and all the defenses, set-offs, counterclaims and other rights (other than those relating to insolvency, bankruptcy or reorganization as described in Section 2.8) with regard to any Obligation that Obligor may possess except as set forth herein or any other defense Obligor may possess relating to lack of validity or enforceability of the APA, the other Transaction Documents or any other agreement or instrument relating to the foregoing as against Obligor arising from (a) the defective incorporation or other defective organization of Obligor, (b) Obligor’s lack of qualification to do business in any applicable jurisdiction or (c) Obligor’s defective corporate or other organizational authority to enter into, deliver or perform the APA or any other Transaction Documents.
		

		
			ARTICLE III
MISCELLANEOUS
		

		
			Section 3.1    Governing Law. THIS AGREEMENT SHALL BE CONSTRUED (BOTH AS TO VALIDITY AND PERFORMANCE), INTERPRETED AND ENFORCED IN ACCORDANCE WITH, AND GOVERNED BY, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICTS OF LAWS RULES AS APPLIED IN NEW YORK.
		

		
			Section 3.2    Jurisdiction; Consent to Service of Process; Waiver. Guarantor and Buyer each agrees that it shall bring any action or proceeding in respect of any claim arising out of or related to this Agreement, whether in tort or contract or at law or in equity, exclusively in any Federal or state court in the City of New York, New York and solely in connection with claims arising under such agreement or instrument or the transactions contained in or contemplated by such agreement or instrument, (a) irrevocably submits to the exclusive jurisdiction of such courts, (b) waives any objection to laying venue in any such action or proceeding in such courts, and (c) waives any objection that such courts are an inconvenient forum or do not have jurisdiction over it.  Guarantor and Buyer each hereby knowingly and intentionally, irrevocably and unconditionally waives trial by jury in any legal action or proceeding relating to this Agreement and for any counterclaim therein.
		

		
			Section 3.3    Construction. Whenever the context requires, the gender of all words used in this Agreement includes the masculine, feminine and neuter.  Terms defined in the singular have the corresponding meanings in the plural, and vice versa.  All references to Articles and Sections refer to articles and sections of this Agreement.  The word “including” means “including, but not limited to”.  The words “hereof,” “hereby,” “herein,” “hereunder” and similar terms in this Agreement shall refer to this Agreement as a whole and not any particular section or article in 
		

		 

		

			4

		

 

		which such words appear.  Any reference to a statute, regulation or law shall include any amendment thereof or any successor thereto and any rules and regulations promulgated thereunder, all as in effect as of the date hereof.  Reference to any person includes such person’s successors and assigns.  Whenever this Agreement refers to a number of days, such number shall refer to calendar days unless Business Days are specified.
		

		
			Section 3.4    Amendment. This Agreement may not be amended except by an instrument in writing executed and delivered by Guarantor and Seller.
		

		
			Section 3.5    Notices. All notices and other communications that are required to be or may be given pursuant to this Agreement shall be in writing and shall be deemed to have been duly given if delivered in person or by a recognized international courier service (such as Federal Express or UPS) or mailed by registered or certified mail (postage prepaid, return receipt requested) to the relevant party hereto at the following addresses or sent by facsimile to the following numbers:
		

		
			If to Guarantor, to:
		

		
			Green Plains Inc.
		

		
			1811 Aksarben Drive
		

		
			Omaha, NE 68106
		

		
			Attn: General Counsel
		

		
			Telephone: (402) 315-1629
		

		
			Facsimile: (402) 952-4916
		

		
			﻿
		

		
			If to Buyer, to:
		

		
			Valero Renewable Fuels Company, LLC
		

		
			One Valero Way
		

		
			San Antonio, Texas  78249
		

		
			Attention:  Executive Vice President and General Counsel
		

		
			Telephone:  (210) 345-2031
		

		
			Facsimile:  (210) 345-3214
		

		
			﻿
		

		
			or to such other address or facsimile number as Guarantor or Seller may, from time to time, designate in a written notice given in accordance with this Section 3.5.  Any such notice or communication shall be effective (a) if delivered in person or by courier, upon actual receipt by the intended recipient, (b) if sent by facsimile transmission, upon actual receipt if received during the recipient’s normal business hours, or at the beginning of the recipient’s next Business Day after receipt if not received during recipient’s normal business hours, or (c) if mailed, upon the earlier of five days after deposit in the mail and the date of delivery as shown by the return receipt therefor.
		

		
			Section 3.6    Public Announcements. Neither Guarantor nor Buyer will issue or make any press releases or similar public announcements concerning the Guaranty or this Agreement without 
		

		 

		

			5

		

 

		the prior written consent of each of the parties hereto, except as may be required by Law.  In the event that it is required by Law to make a disclosure concerning this Agreement such party shall use diligent efforts to first notify the other parties hereto before making such disclosure.
		

		
			Section 3.7    Expenses. Except as otherwise expressly provided herein, all costs and expenses incurred by Guarantor in connection with this Agreement shall be paid by Guarantor, and all costs and expenses incurred by Buyer in connection with this Agreement shall be paid by Buyer.
		

		
			Section 3.8    Headings. The headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement.
		

		
			Section 3.9    Severability. If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any rule of Law or public policy, all other conditions and provisions of this Agreement shall nevertheless remain in full force and effect, and the invalid, illegal or unenforceable provision shall be reformed to the minimum extent required to render such provision valid, legal and enforceable and in a manner so as to preserve the economic and legal substance of the transactions contemplated hereby to the fullest extent permitted by Law.  Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties hereto as closely as possible in an acceptable manner to the end that the Guaranty contemplated hereby is fulfilled to the extent possible.
		

		
			Section 3.10    Assignment. This Agreement shall not be assigned by Guarantor or Buyer (including by operation of law or otherwise), except in connection with an assignment permitted under the APA or the other Transaction Documents.  Any purported assignment of this Agreement in violation of this Section 3.10 shall be null and void.
		

		
			Section 3.11    Parties in Interest. This Agreement shall be binding upon and inure solely to the benefit of Buyer and its permitted successors and assigns, and nothing in this Agreement, express or implied, is intended to or shall confer upon any other person any right, benefit or remedy of any nature whatsoever under or by reason of this Agreement.
		

		
			Section 3.12    Counterparts. This Agreement may be executed in multiple counterparts and by Guarantor and Buyer in separate counterparts, each of which when executed shall be deemed to be an original but all of which taken together shall constitute one and the same agreement.  Signed counterparts of this Agreement delivered via facsimile or emailed as portable document format (PDF) attachments to shall have the same binding effect as originals; provided that each party hereto uses commercially reasonable efforts to deliver to each other party hereto original signatures as soon as possible thereafter.
		

		
			Section 3.13    Entire Agreement. This Agreement, the APA and the other Transaction Documents constitute the entire agreement of Guarantor and Buyer with respect to the subject 
		

		 

		

			6

		

 

		matter hereof, and supersede all prior agreements and undertakings, both written and oral, among Guarantor and Buyer with respect to the subject matter hereof.
		

		
			Section 3.14    No Third Party Beneficiary. This Guaranty is given by Guarantor solely for the benefit of Buyer and its successors and permitted assigns, and is not to be relied upon by any other person or entity.
		

		
			Section 3.15    Term of Guaranty.This Guaranty Agreement shall continue in effect until all Obligations have been satisfied.
		

		
			IN WITNESS WHEREOF, the undersigned has caused this Agreement to be executed as of the date first written above by its officers thereunto duly authorized.
		

		
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						GUARANTOR:

				
	
					
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						GREEN PLAINS INC.

				
	
					
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						By:

					
					
						/s/ Todd Becker

				
	
					
						Name:

					
					
						Todd Becker

				
	
					
						Title:

					
					
						President and Chief Executive Officer

				

		
			﻿
		

		
			﻿
		

		
			ACCEPTED:
		

		
			Valero Renewable Fuels Company, LLC
		

			
					
						﻿

					
					
						 

				
	
					
						By:

					
					
						/s/ Martin Parrish

				
	
					
						Name:

					
					
						Martin Parrish

				
	
					
						Title:

					
					
						Senior Vice President

				

		
			﻿
		

		 

		

			7

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