Document:

Exhibit 10.3

 

ADMINISTRATION AGREEMENT

 

ADMINISTRATION AGREEMENT, dated as of May 12,
2021 (this “Administration Agreement”), is entered into by and between WISCONSIN ELECTRIC POWER COMPANY, a Wisconsin
corporation (“Wisconsin Electric”), as administrator (in such capacity, the “Administrator”),
and WEPCO ENVIRONMENTAL TRUST FINANCE I, LLC, a Delaware limited liability company (the “Issuer”).

 

Capitalized terms used herein and not otherwise
defined herein shall have the meanings assigned to such terms in Appendix A to the Indenture (as defined below). Not all
terms defined in Appendix A to the Indenture are used in this Administration Agreement. The rules of construction set
forth in Appendix A to the Indenture shall apply to this Administration Agreement.

 

W I T N E S S E T H:

 

WHEREAS, the Issuer is issuing Environmental
Trust Bonds pursuant to that certain Indenture (including Appendix A thereto), dated as of the date hereof (the “Indenture”),
by and between the Issuer and U.S. Bank National Association, in its capacity as indenture trustee (the “Indenture Trustee”)
and in its separate capacity as a securities intermediary (the “Securities Intermediary”), and the Series Supplement;

 

WHEREAS, the Issuer has entered into certain
agreements in connection with the issuance of the Environmental Trust Bonds, including (i) the Indenture, (ii) the Environmental
Control Property Servicing Agreement, dated as of May 12, 2021 (the “Servicing Agreement”), by and between
the Issuer and Wisconsin Electric, as Servicer, (iii) the Environmental Control Property Purchase and Sale Agreement, dated as
of May 12, 2021 (the “Sale Agreement”), between the Issuer and Wisconsin Electric, as Seller, and (iv) the
other Basic Documents to which the Issuer is a party, relating to the Environmental Trust Bonds (the Indenture, the Servicing Agreement,
the Sale Agreement and the other Basic Documents to which the Issuer is a party, the “Related Agreements”);

 

WHEREAS, pursuant to the Related Agreements,
the Issuer is required to perform certain duties in connection with the Related Agreements, the Environmental Trust Bonds and the
Environmental Trust Bond Collateral pledged to the Indenture Trustee pursuant to the Indenture;

 

WHEREAS, the Issuer has no employees and does
not intend to hire any employees, and consequently desires to have the Administrator perform certain of the duties of the Issuer
referred to in the preceding clauses and to provide such additional services consistent with the terms of this Administration Agreement
and the Related Agreements as the Issuer may from time to time request; and

 

WHEREAS, the Administrator has the capacity
to provide the services and the facilities required thereby and is willing to perform such services and provide such facilities
for the Issuer on the terms set forth herein;

 

NOW, THEREFORE, in consideration of the mutual
covenants contained herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
and intending to be legally bound hereby, the parties hereto agree as follows:

 

Section 1.                   Duties
of the Administrator; Management Services. The Administrator hereby agrees to provide the following corporate management
services to the Issuer and to cause third parties to provide professional services required for or contemplated by such
services in accordance with the provisions of this Administration Agreement:

 

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(a)               
furnish the Issuer with ordinary clerical, bookkeeping and other corporate administrative services necessary and appropriate
for the Issuer, including, without limitation, the following services:

 

(i)                 
maintain at the Premises (as defined below) general accounting records of the Issuer (the “Account Records”),
subject to year-end audit, in accordance with generally accepted accounting principles, separate and apart from its own accounting
records, prepare or cause to be prepared such quarterly and annual financial statements as may be necessary or appropriate and
arrange for year-end audits of the Issuer’s financial statements by the Issuer’s independent accountants;

 

(ii)                 
prepare and, after execution by the Issuer, file with the Securities and Exchange Commission (the “SEC”)
and any applicable state agencies documents required to be filed by the Issuer with the SEC and any applicable state agencies,
including, without limitation, periodic reports required to be filed under the Securities Exchange Act of 1934, as amended;

 

(iii)               
prepare for execution by the Issuer and cause to be filed such income, franchise or other tax returns of the Issuer as shall
be required to be filed by applicable law (the “Tax Returns”) and cause to be paid on behalf of the Issuer from
the Issuer’s funds any taxes required to be paid by the Issuer under applicable law;

 

(iv)               
prepare or cause to be prepared for execution by the Issuer’s Managers minutes of the meetings of the Issuer’s
Managers and such other documents deemed appropriate by the Issuer to maintain the separate limited liability company existence
and good standing of the Issuer (the “Company Minutes”) or otherwise required under the Related Agreements (together
with the Account Records, the Tax Returns, the Company Minutes, the LLC Agreement, and the Certificate of Formation, the “Issuer
Documents”); and any other documents deliverable by the Issuer thereunder or in connection therewith; and

 

(v)                 
hold, maintain and preserve at the Premises (or such other place as shall be required by any of the Related Agreements)
executed copies (to the extent applicable) of the Issuer Documents and other documents executed by the Issuer thereunder or in
connection therewith;

 

(b)               take
such actions on behalf of the Issuer, as are necessary or desirable for the Issuer to keep in full effect its existence, rights
and franchises as a limited liability company under the laws of the State of Delaware and obtain and preserve its qualification
to do business in each jurisdiction in which it becomes necessary to be so qualified;

 

(c)              
take such actions on the behalf of the Issuer as are necessary for the issuance and delivery of Environmental Trust Bonds;

 

(d)              
provide for the performance by the Issuer of its obligations under each of the Related Agreements, and prepare, or cause
to be prepared, all documents, reports, filings, instruments, notices, certificates and opinions that it shall be the duty of the
Issuer to prepare, file or deliver pursuant to the Related Agreements;

 

(e)               
to the full extent allowable under applicable law, enforce each of the rights of the Issuer under the Related Agreements,
at the direction of the Indenture Trustee;

 

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(f)                
 provide for the defense, at the direction of the Issuer’s Managers, of any action, suit or proceeding brought against
the Issuer or affecting the Issuer or any of its assets;

 

(g)               
provide office space (the “Premises”) for the Issuer and such reasonable ancillary services as are necessary
to carry out the obligations of the Administrator hereunder, including telecopying, duplicating and word processing services;

 

(h)               
undertake such other administrative services as may be appropriate, necessary or requested by the Issuer;

 

(i)                
provide the Indenture Trustee with copies of the filings by the Issuer under the Securities Exchange Act of 1934, as amended;
and

 

(j)                
provide such other services as are incidental to the foregoing or as the Issuer and the Administrator may agree.

 

In providing the services under this Section
1 and as otherwise provided under this Administration Agreement, the Administrator will not knowingly take any actions on behalf
of the Issuer which (i) the Issuer is prohibited from taking under the Related Agreements, or (ii) would cause the Issuer
to be in violation of any U.S. federal, state or local law or the LLC Agreement.

 

Section 2.                   
Compensation. As compensation for the performance of the Administrator’s obligations under this Administration
Agreement (including the compensation of Persons serving as Manager(s), other than the Independent Manager(s), and officers of
the Issuer, but, for the avoidance of doubt, excluding the performance by Wisconsin Electric of its obligations in its capacity
as Servicer), the Administrator shall be entitled to $75,000 annually (the “Administration Fee”), payable by
the Issuer in installments of $37,500 on each Payment Date. In addition, the Administrator shall be entitled to be reimbursed by
the Issuer for all costs and expenses of services performed by unaffiliated third parties and actually incurred by the Administrator
in connection with the performance of its obligations under this Administration Agreement in accordance with Section 3 (but,
for the avoidance of doubt, excluding any such costs and expenses incurred by Wisconsin Electric in its capacity as Servicer),
to the extent that such costs and expenses are supported by invoices or other customary documentation and are reasonably allocated
to the Issuer (“Reimbursable Expenses”).

 

Section 3.                   
Third Party Services. Any services required for or contemplated by the performance of the above-referenced services
by the Administrator to be provided by unaffiliated third parties (including independent auditors’ fees and counsel fees)
may, if provided for or otherwise contemplated by the Financing Order and if the Issuer deems it necessary or desirable, be arranged
by the Issuer or by the Administrator at the direction (which may be general or specific) of the Issuer. Costs and expenses associated
with the contracting for such third-party professional services may be paid directly by the Issuer or paid by the Administrator
and reimbursed by the Issuer in accordance with Section 2, or otherwise as the Administrator and the Issuer may mutually
arrange.

 

Section 4.                  
Additional Information to be Furnished to the Issuer. The Administrator shall furnish to the Issuer from time to
time such additional information regarding the Environmental Trust Bond Collateral as the Issuer shall reasonably request.

 

Section 5.                    Independence
of the Administrator. For all purposes of this Administration Agreement, the Administrator shall be an independent contractor
and shall not be subject to the supervision of the Issuer with respect to the manner in which it accomplishes the performance
of its obligations hereunder. Unless expressly authorized by the Issuer, the Administrator shall have no authority, and shall
not hold itself out as having the authority, to act for or represent the Issuer in any way and shall not otherwise be deemed an
agent of the Issuer.

 

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Section 6.                   
No Joint Venture. Nothing contained in this Administration Agreement (a) shall constitute the Administrator
and the Issuer as partners or co-members of any partnership, joint venture, association, syndicate, unincorporated business or
other separate entity, (b) shall be construed to impose any liability as such on either of them or (c) shall be deemed
to confer on either of them any express, implied or apparent authority to incur any obligation or liability on behalf of the other.

 

Section 7.                   
Other Activities of Administrator. Nothing herein shall prevent the Administrator or any of its shareholders, directors,
officers, employees, subsidiaries or affiliates from engaging in other businesses or, in its sole discretion, from acting in a
similar capacity as an administrator for any other Person even though such Person may engage in business activities similar to
those of the Issuer.

 

Section 8.                    
Term of Agreement; Resignation and Removal of Administrator.

 

(a)              
This Administration Agreement shall continue in force until the payment in full of the Environmental Trust Bonds and any
other amount which may become due and payable under the Indenture, upon which event this Administration Agreement shall automatically
terminate.

 

(b)              
Subject to Sections 8(e) and 8(f), the Administrator may resign its duties hereunder by providing the Issuer with at
least sixty (60) days’ prior written notice.

 

(c)               
Subject to Sections 8(e) and 8(f), the Issuer may remove the Administrator without cause by providing the Administrator
with at least sixty (60) days’ prior written notice.

 

(d)               
Subject to Sections 8(e) and 8(f), at the sole option of the Issuer, the Administrator may be removed immediately upon written
notice of termination from the Issuer to the Administrator if any of the following events shall occur:

 

(i)                  
the Administrator shall default in the performance of any of its duties under this Administration Agreement and, after notice
of such default, shall fail to cure such default within ten (10) days (or, if such default cannot be cured in such time, shall
(A) fail to give within ten (10) days such assurance of cure as shall be reasonably satisfactory to the Issuer and (B) fail
to cure such default within thirty (30) days thereafter);

 

(ii)                 
a court of competent jurisdiction shall enter a decree or order for relief, and such decree or order shall not have been
vacated within sixty (60) days, in respect of the Administrator in any involuntary case under any applicable bankruptcy, insolvency
or other similar law now or hereafter in effect, or such court shall appoint a receiver, liquidator, assignee, custodian, trustee,
sequestrator or similar official for the Administrator or any substantial part of its property or order the winding-up or liquidation
of its affairs; or

 

(iii)               
the Administrator shall commence a voluntary case under any applicable bankruptcy, insolvency or other similar law now or
hereafter in effect, shall consent to the entry of an order for relief in an involuntary case under any such law, shall consent
to the appointment of a receiver, liquidator, assignee, trustee, custodian, sequestrator or similar official for the Administrator
or any substantial part of its property, shall consent to the taking of possession by any such official of any substantial part
of its property, shall make any general assignment for the benefit of creditors or shall fail generally to pay its debts as they
become due.

 

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The Administrator agrees that if any of the
events specified in clauses (ii) or (iii) of this Section 8(d) shall occur, it shall give written notice thereof to
the Issuer and the Indenture Trustee as soon as practicable but in any event within seven (7) days after the happening of such
event.

 

(e)              
No resignation or removal of the Administrator pursuant to this Section 8 shall be effective until a successor Administrator
has been appointed by the Issuer, and such successor Administrator has agreed in writing to be bound by the terms of this Administration
Agreement in the same manner as the Administrator is bound hereunder.

 

(f)                
The appointment of any successor Administrator shall be effective only after satisfaction of the Rating Agency Condition
with respect to the proposed appointment.

 

Section 9.                  
Action upon Termination, Resignation or Removal. Promptly upon the effective date of termination of this Administration
Agreement pursuant to Section 8(a), the resignation of the Administrator pursuant to Section 8(b) or the removal
of the Administrator pursuant to Section 8(c) or (d), the Administrator shall be entitled to be paid a pro-rated
portion of the annual fee described in Section 2 hereof through the date of termination and all Reimbursable Expenses incurred
by it through the date of such termination, resignation or removal. The Administrator shall forthwith upon such termination pursuant
to Section 8(a) deliver to the Issuer all property and documents of or relating to the Environmental Trust Bond Collateral
then in the custody of the Administrator. In the event of the resignation of the Administrator pursuant to Section 8(b) or
the removal of the Administrator pursuant to Section 8(c) or (d), the Administrator shall cooperate with the
Issuer and take all reasonable steps requested to assist the Issuer in making an orderly transfer of the duties of the Administrator.

 

Section 10.                 
Administrator’s Liability.  Except as otherwise provided herein, the Administrator assumes no liability
other than to render or stand ready to render the services called for herein, and neither the Administrator nor any of its shareholders,
directors, officers, employees, subsidiaries or affiliates shall be responsible for any action of the Issuer or any of the members,
managers, officers, employees, subsidiaries or affiliates of the Issuer (other than the Administrator itself). The Administrator
shall not be liable for nor shall it have any obligation with regard to any of the liabilities, whether direct or indirect, absolute
or contingent, of the Issuer or any of the members, managers, officers, employees, subsidiaries or affiliates of the Issuer (other
than the Administrator itself).

 

Section 11.                  
Indemnity.

 

(a)              
Subject to the priority of payments set forth in the Indenture, the Issuer shall indemnify the Administrator, its shareholders,
directors, officers, employees and affiliates against all losses, claims, damages, penalties, judgments, liabilities and expenses
(including, without limitation, all expenses of litigation or preparation therefor whether or not the Administrator is a party
thereto) which any of them may pay or incur arising out of or relating to this Administration Agreement and the services called
for herein; provided, however, such indemnity shall not apply to any such loss, claim, damage, penalty, judgment,
liability or expense resulting from the Administrator’s gross negligence or willful misconduct in the performance of its
obligations hereunder.

 

(b)              
The Administrator shall indemnify the Issuer, its members, managers, officers and employees against all losses, claims,
damages, penalties, judgments, liabilities and expenses (including, without limitation, all expenses of litigation or preparation
therefor whether or not the Issuer is a party thereto) that any of them may incur as a result of the Administrator’s gross
negligence or willful misconduct in the performance of its obligations hereunder.

 

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Section 12.                  
Notices. Any notice, report or other communication given hereunder shall be in writing and addressed as follows:

 

(a)              
if to the Issuer, to WEPCo Environmental Trust Finance I, LLC, at 231 West Michigan Street, Milwaukee, Wisconsin 53201,
Attention: Anthony L. Reese, Vice President and Treasurer, Telephone: (414) 221-2579, Email: anthony.reese@wecenergygroup.com;

 

(b)              
if to the Administrator, to Wisconsin Electric Power Company, at 231 West Michigan Street, Milwaukee, Wisconsin 53201, Attention:
Anthony L. Reese, Vice President and Treasurer, Telephone: (414) 221-2345, Email: anthony.reese@wecenergygroup.com; and

 

(c)               
if to the Indenture Trustee, to the Corporate Trust Office;

 

or to such other address as any party shall
have provided to the other parties in writing. Any notice required to be in writing hereunder shall be deemed given if such notice
is mailed by certified mail, postage prepaid, or hand-delivered or delivered by electronic means of communication (including email)
to the address of such party as provided above.

 

Section 13.                 
Amendments. This Administration Agreement may be amended from time to time by a written amendment duly executed and
delivered by each of the Issuer and the Administrator, with ten Business Days’ prior written notice given to the Rating Agencies,
but without the consent of any of the Holders, (i) to cure any ambiguity, to correct or supplement any provisions in this Administration
Agreement or for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions in this
Administration Agreement or of modifying in any manner the rights of the Holders; provided, however, that the Issuer and the Indenture
Trustee shall receive an Officer’s Certificate stating that the execution of such amendment shall not adversely affect in
any material respect the interests of any Holder and that all conditions precedent have been satisfied or (ii) to conform the provisions
hereof to the description of this Administration Agreement in the Prospectus.

 

In addition, this Administration Agreement
may be amended from time to time by a written amendment duly executed and delivered by each of the Issuer and the Administrator
with the prior written consent of the Indenture Trustee and the satisfaction of the Rating Agency Condition; provided that any
such amendment may not adversely affect the interest of any Holder in any material respect without the consent of the Holders of
a majority of the outstanding principal amount of the Environmental Trust Bonds. Promptly after the execution of any such amendment
or consent, the Issuer shall furnish copies of such amendment or consent to each of the Rating Agencies.

 

Notwithstanding the foregoing, in no event
shall this Administration Agreement be amended without the approval of the PSCW if (1) such approval is required pursuant to Wis.
Stat. § 196.52, or (2) such amendment would increase the ongoing Financing Costs of the Issuer.

 

Section 14.                   Successors
and Assigns. This Administration Agreement may not be assigned by the Administrator unless such assignment is previously
consented to in writing by the Issuer and the Indenture Trustee and subject to the satisfaction of the Rating Agency
Condition in connection therewith. Any assignment with such consent and satisfaction, if accepted by the assignee, shall bind
the assignee hereunder in the same manner as the Administrator is bound hereunder. Notwithstanding the foregoing, this
Administration Agreement may be assigned by the Administrator without the consent of the Issuer or the Indenture Trustee and
without satisfaction of the Rating Agency Condition to a corporation or other organization that is a successor (by merger,
reorganization, consolidation or purchase of assets) to the Administrator, including without limitation any Permitted
Successor; provided, that such successor or organization executes and delivers to the Issuer an agreement in which
such corporation or other organization agrees to be bound hereunder by the terms of said assignment in the same manner as the
Administrator is bound hereunder. Subject to the foregoing, this Administration Agreement shall bind any successors or
assigns of the parties hereto. Upon satisfaction of all of the conditions of this Section 14, the preceding
Administrator shall automatically and without further notice be released from all of its obligations hereunder.

 

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Section 15.                 
GOVERNING LAW. THIS ADMINISTRATION AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF WISCONSIN,
WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE
DETERMINED IN ACCORDANCE WITH SUCH LAWS.

 

Section 16.                   Headings.
The Section headings hereof have been inserted for convenience of reference only and shall not be construed to affect the meaning,
construction or effect of this Administration Agreement.

 

Section 17.                  Counterparts. This
Administration Agreement may be executed in counterparts, each of which when so executed shall be an original, but all of which
together shall constitute but one and the same Administration Agreement.

 

Section
18.                   Severability. Any provision of this Administration Agreement that is prohibited or
unenforceable in any jurisdiction shall be ineffective to the extent of such prohibition or unenforceability without
invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not
invalidate or render unenforceable such provision in any other jurisdiction.

 

Section 19.                   Nonpetition Covenant.
Notwithstanding any prior termination of this Administration Agreement, the Administrator covenants that it shall not, prior to
the date which is one year and one day after payment in full of the Environmental Trust Bonds, acquiesce, petition or otherwise
invoke or cause the Issuer to invoke the process of any court or government authority for the purpose of commencing or sustaining
an involuntary case against the Issuer under any federal or state bankruptcy, insolvency or similar law or appointing a receiver,
liquidator, assignee, trustee, custodian, sequestrator or other similar official of the Issuer or any substantial part of its property
or ordering the winding up or liquidation of the affairs of the Issuer.

 

Section 20.                   Assignment
to Indenture Trustee. The Administrator hereby acknowledges and consents to any mortgage, pledge, assignment and grant of
a security interest by the Issuer to the Indenture Trustee for the benefit of the Secured Parties pursuant to the Indenture of
any or all of the Issuer’s rights hereunder and the assignment of any or all of the Issuer’s rights hereunder to the
Indenture Trustee for the benefit of the Secured Parties. For the avoidance of doubt, the Indenture Trustee is a third party beneficiary
of this Administration Agreement and is entitled to the rights and benefits hereunder and may enforce the provisions hereof as
if it were a party hereto.

 

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IN WITNESS WHEREOF, the parties have caused
this Administration Agreement to be duly executed and delivered by their respective duly authorized officers as of the day and
year first above written.

 

	 	WEPCO ENVIRONMENTAL TRUST FINANCE I, LLC,
	 	as Issuer
	 	 
	 	By: 	/s/ Scott J. Lauber
	 	 	Name: Scott J. Lauber
	 	 	Title: President
	 	 
	 	WISCONSIN ELECTRIC POWER
COMPANY,
	 	as Administrator
	 	 
	 	By: 	/s/ Anthony L. Reese
	 	 	Name: Anthony L. Reese
	 	 	Title: Vice President and Treasurer

 

Signature Page to Administration
Agreement

 

    8Exhibit 101 - Exchange Agreement

		
			Exhibit 10.1
		

		
			EXCHANGE AGREEMENT
		

		
			This Exchange Agreement (this “Agreement”) is made and entered into as of May 11, 2021 by and among Green Plains Inc., an Iowa corporation (the “Company”), and each of the entities (each, a “Noteholder” and, collectively, the “Noteholders”) listed on Schedule “A” attached to this Agreement (collectively, “Schedule A”; the Schedule A pertaining to each individual Noteholder is referred to herein as the “applicable Schedule A”, and the accounts, if any, on behalf of which any Noteholder may be acting, as specified on the applicable Schedule A, for whom the Noteholder holds contractual and investment authority, are referred to herein as the “Represented Accounts”). The Company and the Noteholders are sometimes collectively referred to in this Agreement as the “Parties” and individually as a “Party”. 
		

		
			WHEREAS, the Noteholders or Represented Accounts currently own $51 million aggregate principal amount of the Company’s 4.00% Convertible Senior Notes due 2024 (the “Existing 2024 Notes”); and
		

		
			WHEREAS, the Parties desire that the Company acquire, and that each Noteholder delivers to the Company, the principal amount of the Existing 2024 Notes owned by each such Noteholder or its Represented Account and specified in the applicable Schedule A in exchange for the Company’s issuance to such Noteholder or its Represented Account of shares of common stock, par value $0.001 per share, of the Company (the “Common Stock”), upon the terms and conditions set forth in this Agreement.
		

		
			NOW, THEREFORE, in consideration of the mutual covenants, agreements and understandings herein contained, the Parties agree as follows: 
		

		
			SECTION 1.Exchange.  
		

		
			1.1Exchange of Existing 2024 Notes.  
		

		
			(a)On and subject to the terms and conditions set forth in this Agreement and in reliance upon the representations and warranties set forth below, on the Closing Date (as defined below), the Company shall acquire from each Noteholder or its Represented Account, and each Noteholder shall transfer, assign and deliver to the Company, all of its or its Represented Account’s rights, title and interest in the aggregate principal amount of the Existing 2024 Notes owned by such Noteholder and as set forth in the applicable Schedule A hereto for such Noteholder, free and clear of any Liens (as defined below), in exchange for (i) a number of shares of Common Stock equal to the Exchanged Shares, free and clear of any Liens to be issued at the Closing as contemplated herein, plus (ii) an amount in cash equal to the accrued and unpaid interest on such Existing 2024 Notes to and including the Closing Date as calculated in accordance with that certain indenture by and between the Company and the Trustee, dated June 21, 2019 (the “Indenture”), relating to the Existing 2024 Notes (such interest payment, in the amounts shown on Schedule A hereto, the “Cash Interest Payment”). The Cash Interest Payment shall be made by wire transfer to the account of the Noteholder specified in the applicable Schedule A at the Closing. 
		

		

		

		 

		

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		(b)No additional consideration for any purpose shall be due to the Noteholders in respect of such Existing 2024 Notes other than the Exchanged Shares issuable hereunder and the Cash Interest Payment. 
		

		
			(c)Within one day following the end of the VWAP Period, the Company shall deliver a certificate to each Noteholder setting forth the Company’s determination of the applicable number of Exchanged Shares, and such Noteholder shall promptly thereafter confirm in writing its agreement with such calculation. To the extent there is any disagreement in the calculation of the Exchange Ratio or the Exchanged Shares, the Company and the applicable Noteholder shall confer in good faith and confirm the calculation and determination of the number of Exchanged Shares. To the extent no agreement is reached between the Company and the applicable Noteholder and judicial proceedings are instituted to resolve such dispute, the non-prevailing party in such dispute shall pay the legal costs and expenses of the prevailing party in such dispute. 
		

		
			1.2Delivery of Exchanged Shares.  Notwithstanding anything herein to the contrary, but subject to Section 1.2(b) and the conditions set forth in Section 1.4, at the Closing, the Company shall issue and deliver to each Noteholder the number of Exchanged Shares equal to the number of Exchanged Shares as finally determined pursuant to Section 1.1(c). 
		

		
			1.3Announcement of the Transactions.  The Company shall, by 9:00 a.m., New York City time, on the first (1st) business day immediately following the date hereof, issue one or more press releases or file with the Securities and Exchange Commission (the “Commission”) a Current Report on Form 8-K (collectively, the “Disclosure Document”) disclosing, to the extent not previously publicly disclosed, all material terms of the transactions contemplated hereby and any other material, nonpublic information that the Company or any of its respective officers, directors or employees has provided to any Noteholder at any time prior to the issuance or filing, as applicable, of the Disclosure Document.
		

		
			1.4 Closings.  
		

		
			(a)The closing of the transactions contemplated by Section 1.1 with respect to the Exchanged Shares (the “Closing”) will take place on the second business day following final determination of the calculations contemplated in Section 1.1(c), subject to this Section 1.4 and to the satisfaction or waiver of the conditions set forth in this Section 1.4 (other than those that by their terms are to be satisfied or waived at the Closing) or at the first date thereafter as the conditions set forth in this Section 1.4 have been satisfied or waived (the “Closing Date”). 
		

		
			(b)On the Closing Date, each Noteholder shall (i) direct the eligible Depository Trust Company (“DTC”) participant through which such Noteholder, or its Represented Account, holds a beneficial interest in the Existing 2024 Notes to submit a one-sided withdrawal instruction through DTC’s DWAC program to Wilmington Trust, National Association, as custodian and trustee for the Existing 2024 Notes (the “Trustee”), of such Noteholder’s, or its Represented Account’s, Existing 2024 Notes set forth on such Noteholder’s applicable Schedule A, on (and not before) the Closing Date no later than 9:30 a.m., New York City time, on the Closing Date (and such Noteholder acknowledges that any such withdrawal instruction submitted on any day before the Closing Date will expire unmatched at the close of business on such day and will need to be resubmitted on the Closing Date); and (ii) submit, for its own account or the account of its 
		

		 

		

			2

		

 

		Represented Account, through the DTC’s DWAC program, a deposit instruction to Continental Stock Transfer & Trust Company, acting as transfer agent and DTC custodian for the Common Stock (the “Stock Transfer Agent”), for the aggregate number of Exchanged Shares applicable to such Noteholder, which deposit instruction must be submitted on (and not before) the Closing Date no later than 9:30 a.m., New York City time, on the Closing Date (and such Noteholder acknowledges that any such deposit instruction submitted on any day before the Closing Date will expire unmatched at the close of business on such day and will need to be resubmitted on the Closing Date). 
		

		
			(c)On the Closing Date, the Company shall deliver or caused to be delivered to such Noteholder or Represented Account the number of Exchanged Shares set forth on Schedule A applicable to such Noteholder via book-entry delivery pursuant to DWAC instructions specified on the applicable Schedule A, with any transfer taxes payable in connection with the delivery of such Exchanged Shares duly paid by the Company; provided that it is understood that no delivery of such Exchanged Shares shall be made until a valid DWAC withdrawal instruction for the Existing 2024 Notes and a valid DWAC deposit instruction for such Exchanged Shares has been received by the Trustee and the Stock Transfer Agent. 
		

		
			(d)On the Closing Date, the Company will deliver to such Noteholder the applicable Cash Interest Payment by wire transfer to the account of such Noteholders, or its Represented Accounts as set forth on the applicable Schedule A.  
		

		
			(e)As a condition to the Closing, as of the Closing Date, the Exchanged Shares shall have been approved for listing on the Nasdaq Global Select Market (“Nasdaq Market”) without requiring approval thereof by the Company’s stockholders under the rules of the Nasdaq Market, subject to official notice of issuance. 
		

		
			(f)If (i) the Trustee is unable to locate the Noteholder’s DWAC withdrawal in respect of the Existing 2024 Notes, (ii) the Stock Transfer Agent is unable to locate the DWAC deposit in respect of the Exchanged Shares or (iii) such DWAC withdrawal or DWAC deposit does not conform with the Existing 2024 Notes or the Exchanged Shares to be exchanged or issued, as applicable, pursuant to this Agreement, the Company will promptly notify the applicable Noteholder. If, because of the occurrence of such an event, the Exchanged Shares are not delivered on the Closing Date, they will be delivered on the business day following the Closing Date, on which the Trustee is able to locate the DWAC withdrawal or the Stock Transfer Agent is able to locate the DWAC deposit and/or the DWAC withdrawal or DWAC deposit conforms with the Existing 2024 Notes or the Exchanged Shares, as applicable. All questions as to the form of all documents and the validity and acceptance of the Existing 2024 Notes and the issuance of the Exchanged Shares will be determined by the Company, in its reasonable discretion, which determination shall be final and binding. 
		

		
			SECTION 2.Representations and Warranties of the Company.  The Company hereby represents and warrants to each Noteholder that:
		

		
			2.1Organization.  The Company is a corporation duly organized, validly existing and in good standing under the laws of the State of Iowa. 
		

		

		

		 

		

			3

		

 

		2.2Authorization.  
		

		
			(a)The Company has full right, power and authority to execute and deliver this Agreement and to perform its obligations hereunder; and subject to Section 2.6, all action required to be taken for the due and proper authorization, execution and delivery by it of this Agreement and the consummation by it of the transactions contemplated hereby has been duly and validly taken. 
		

		
			(b)This Agreement has been duly authorized, executed and delivered by the Company and constitutes a valid and binding obligation of the Company, enforceable against the Company in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, moratorium, reorganization or similar laws affecting creditors’ rights generally and by general equitable principles. 
		

		
			2.3Validity of the Shares.  The Company has duly authorized and reserved for issuance a number of shares of Common Stock equal to the maximum number of Exchanged Shares that may be issued pursuant to this Agreement. When issued and delivered in accordance with the terms of this Agreement, the Exchanged Shares will be validly issued, fully paid and nonassessable, and the issuance of any such Exchanged Shares will not subject to any preemptive or similar rights. 
		

		
			2.4SEC Filings.  
		

		
			(a)The Company has filed all reports, schedules, forms, statements and other documents required to be filed by it with the Commission under Sections 13, 14(a) and 15(d) of the Exchange Act, in the two years preceding the date hereof on a timely basis, except where the failure to file on a timely basis would not reasonably be expected to affect the Company’s ability to carry out and perform all of its obligations under this Agreement. As of their respective filing dates (or, if amended prior to the date of this Agreement, when amended), such documents filed with the Commission pursuant to the Exchange Act (the “SEC Documents”) complied in all material respects with the requirements of the Exchange Act and the rules and regulations of the Commission promulgated thereunder. The Company has made available to each Noteholder or its representatives, or each Noteholder has had access through the Commission’s EDGAR website to, true and complete copies of the SEC Documents. 
		

		
			(b)The Company is not and, after giving effect to the transactions contemplated by this Agreement, will not be required to register as an “investment company” within the meaning of the Investment Company Act of 1940, as amended, and the rules and regulations of the Commission thereunder. 
		

		
			(c)As of the date hereof, the Covered Documents (as defined below), taken as a whole, do not include an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. As used herein, “Covered Documents” means each of the following documents: (i) the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, including those portions of the Company’s Proxy Statement on Schedule 14A filed on March 26, 2021 that are incorporated therein by reference; (ii) the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2021; and (iii) the Company’s Current 
		

		 

		

			4

		

 

		Reports on Form 8-K (excluding any Current Reports or portions thereof that are furnished, and not filed, pursuant to Item 2.02 or Item 7.01 of Form 8-K, and any related exhibits) filed with the SEC after December 31, 2020. 
		

		
			2.5Non-Contravention.  The execution, delivery and performance by the Company of this Agreement, the issuance of the Exchanged Shares and the consummation by the Company of the transactions contemplated by this Agreement will not (i) conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under, result in the termination of any right or asset of the Company or any of its subsidiaries pursuant to, any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which the Company or any of its subsidiaries is a party or by which the Company or any of its subsidiaries is bound or to which any of the property, right or assets of the Company or any of its subsidiaries is subject, (ii) result in any violation of the provisions of the charter or by-laws or similar organizational documents of the Company or any of its subsidiaries or (iii) result in the violation of any law or statute or any judgment, order, rule or regulation of any court or arbitrator or governmental or regulatory authority applicable to the Company or any of its subsidiaries or by which the Company or any of its subsidiaries is bound or to which any of the property, right or assets of the Company or any of its subsidiaries is subject, except, in the case of clauses (i) and (iii) above, for any such conflict, breach, violation, default or termination that, would not, individually or in the aggregate, have, or would reasonably be expected to have, a material adverse effect on the business, properties, management, financial position, stockholders’ equity, results of operations and prospects of the Company and its subsidiaries taken as a whole or on the performance by the Company of its obligations under this Agreement (a “Material Adverse Effect”). 
		

		
			2.6 No Consents or Approvals.  No consent, filing, approval, authorization, order, registration or qualification of or with any court or arbitrator or governmental or regulatory authority is required for the execution, delivery and performance by the Company of its obligations under this Agreement, the issuance of the Exchanged Shares and the consummation by the Company of the transactions contemplated by this Agreement, except for such filings, consents, approvals, authorizations, orders and registrations or qualifications (i) which have been obtained or made or (ii) as may be required by the Financial Industry Regulatory Authority, Inc. and the Nasdaq Market. 
		

		
			2.7 No Registration Required.  Assuming the accuracy of each Noteholder’s representations in Section 3 hereof, it is not necessary in connection with the issuance of the Exchanged Shares to such Noteholder in the manner contemplated by this Agreement to register such issuances and sales under the Securities Act of 1933, as amended (the “Securities Act”). Upon issuance, the Exchanged Shares will be issued without any restricted CUSIP or other restrictive legend and will be freely tradable (other than by affiliates of the Company) under the Securities Act. 
		

		
			SECTION 3. Representations and Warranties of the Noteholders.  Each Noteholder, severally with respect to itself and its Represented Accounts (if any) and not jointly with other Noteholders, hereby represents and warrants to the Company that the following statements are true and correct as of the date of this Agreement and will be true and correct as of the Closing Date: 
		

		

		

		 

		

			5

		

 

		3.1 Organization.  Such Noteholder is an entity duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization. 
		

		
			3.2 Authorization.  
		

		
			(a)Such Noteholder has full right, power and authority to exchange, sell, assign and transfer the Existing 2024 Notes and to execute and deliver this Agreement and to perform its obligations hereunder; and all action required to be taken for the due and proper authorization, execution and delivery by it of this Agreement and the consummation by it of the transactions contemplated hereby has been duly and validly taken. 
		

		
			(b) This Agreement has been duly authorized, executed and delivered by the Noteholder and constitutes a valid and binding obligation of the Noteholder, enforceable against the Noteholder in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, moratorium, reorganization or similar laws affecting creditors’ rights generally and by general equitable principles. 
		

		
			3.3 Ownership.  Such Noteholder, or each of its Represented Accounts, is the beneficial owner of the Existing 2024 Notes set forth on the applicable Schedule A and, as of the Closing, will be the beneficial owner of such Existing 2024 Notes. Such Noteholder, or each of its Represented Accounts, has, and will have at the Closing, good, valid and marketable title to the Existing 2024 Notes set forth on the applicable Schedule A opposite the name of such Noteholder or Represented Account, free and clear of all mortgages, liens, pledges, charges, security interests, encumbrances, title retention agreements, options, preemptive rights, equity or other adverse claims thereto (collectively, “Liens”) (other than pledges or security interests that the Noteholder may have created in favor of a prime broker under and in accordance with its prime brokerage agreement with such broker, which will be terminated in connection with Closing). No proceeding relating to such Noteholder is pending or, to the knowledge of such Noteholder, is threatened before any court, arbitrator or administrative or governmental body that would adversely affect such Noteholder’s right to transfer the Existing 2024 Notes to the Company. Such Noteholder is not, and has not been during the consecutive three-month period preceding the date hereof, a director, officer or “affiliate” within the meaning of Rule 144 under the Securities Act of the Company. To its knowledge, such Noteholder did not acquire any of the Existing 2024 Notes, directly or indirectly, from the Company or any affiliate of the Company and no affiliate of the Company has held such Existing 2024 Notes within the past year. 
		

		
			3.4 Transfer of the Existing 2024 Notes.  Such Noteholder has made an independent decision to transfer such Noteholder’s Existing 2024 Notes based on the information available to such Noteholder. Each Noteholder acknowledges that it has independently made its own analysis and decision to transfer such Noteholder’s Existing 2024 Notes and without reliance upon the Company or its affiliates or representatives and based on such information as it has deemed appropriate in its independent judgment. Such Noteholder has not relied on any information (in any form, whether written or oral, including any representation or warranty of the Company) furnished by or on behalf of the Company or any of its respective affiliates or representatives in making that decision (other than, with respect to the Company, filings made by the Company with the Commission and other public disclosures and the representations of the Company expressly set forth herein). 
		

		

		

		 

		

			6

		

 

		3.5 Investment.  
		

		
			(a) Such Noteholder is knowledgeable, sophisticated and experienced in business and financial matters and has previously invested in securities similar to the Exchanged Shares. Such Noteholder is able to bear the economic risk of its investment in the Exchanged Shares and is presently able to afford the complete loss of such investment and has been afforded access to information about the Company and its affiliates and their financial condition, results of operations, business, property and management sufficient to enable such Noteholder to evaluate its investment in the Exchanged Shares. Such Noteholder was given a meaningful opportunity to negotiate the terms of the transactions contemplated hereby and neither the Company nor any of its affiliates or representatives put any pressure on such Noteholder to respond to the opportunity to participate in the transactions contemplated hereby or condition its participation on such Noteholder exchanging a minimum amount of its Existing 2024 Notes. Such Noteholder and Represented Account for which it is acting are each an “accredited investor” as defined in Rule 501(a) under the Securities Act and such Noteholder and any Represented Account for which it is acting are each a “qualified institutional buyer” as defined in Rule 144A under the Securities Act. 
		

		
			(b) Such Noteholder (i) has received such information about the Company as requested by such Noteholder, including the SEC Documents and the Covered Documents; (ii) understands and accepts that the Exchanged Shares to be issued pursuant to this Agreement involve risk, including those described or incorporated by reference in the SEC Documents and the Covered Documents, as applicable, and (iii) has made an independent decision to acquire the Exchanged Shares based on the information available to such Noteholder. Such Noteholder acknowledges that it has independently made its own analysis and decision to acquire the Exchanged Shares without reliance upon the Company or its respective representatives and based on such information as it has deemed appropriate in its independent judgment. Such Noteholder has not relied on any information (in any form, whether written or oral, including any representation or warranty of the Company) furnished by or on behalf of the Company or its respective affiliates and representatives in making that decision (other than, with respect to the Company, filings made by the Company with the Commission and other public disclosures and the representations of the Company expressly set forth herein). Such Noteholder further acknowledges that (i) it has consulted its own tax advisors and (ii) it has not relied on the Company or its respective affiliates or representatives for any tax advice related to the transactions contemplated hereunder. 
		

		
			(c) Such Noteholder is acquiring the Exchanged Shares to be issued to it pursuant to this Agreement for investment purposes and solely for its account without a view to the distribution thereof. 
		

		
			(d) None of the Company nor any of its respective affiliates, representatives, officers, employees, agents or controlling persons have provided any investment advice or rendered any opinion to such Noteholder as to whether the transaction contemplated hereby is prudent or suitable. 
		

		

		

		 

		

			7

		

 

		3.6 Compliance with Laws.  
		

		
			(a) Each Noteholder will comply with all applicable laws and regulations in effect in any jurisdiction in which the Noteholder exchanges the Existing 2024 Notes or is issued the Exchanged Shares and will obtain any consent, approval or permission required for such acquisitions or exchange under the laws and regulations of any jurisdiction to which the Noteholder is subject or in which the Noteholder makes such acquisitions or exchanges, and the Company shall have no responsibility therefor. 
		

		
			(b) Each Noteholder is a resident of the jurisdiction set forth on the applicable Schedule A hereto. 
		

		
			3.7 No Guarantees.  Each Noteholder confirms that none of the Company nor any of its respective affiliates or representatives has (A) given any guarantee or representation as to the potential success, return, effect or benefit (either legal, regulatory, tax, financial accounting or otherwise) of the exchange of the Existing 2024 Notes for the Exchanged Shares, or (B) made any representation to such Noteholder regarding the legality of the transactions contemplated hereby under applicable investment guidelines, laws or regulations (other than, with respect to the Company, the representations of the Company expressly set forth herein). 
		

		
			3.8 Non-Contravention.  The execution, delivery and performance by the Noteholder of this Agreement, the exchange of the Existing 2024 Notes for the Exchanged Shares and purchase of the New 2024 Notes and the consummation by the Noteholder of the transactions contemplated by this Agreement will not (i) conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under, result in the termination of any right or asset of the Noteholder or any of its subsidiaries pursuant to, any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which the Noteholder or any of its subsidiaries is a party or by which the Noteholder or any of its subsidiaries is bound or to which any of the property, right or assets of the Noteholder or any of its subsidiaries is subject, (ii) result in any violation of the provisions of the charter or by-laws or similar organizational documents of the Noteholder or any of its subsidiaries or (iii) result in the violation of any law or statute or any judgment, order, rule or regulation of any court or arbitrator or governmental or regulatory authority applicable to the Noteholder or any of its subsidiaries or by which the Noteholder or any of its subsidiaries is bound or to which any of the property, right or assets of the Noteholder or any of its subsidiaries is subject, except, in the case of clauses (i) and (iii) above, for any such conflict, breach, violation, default or termination that, would not, individually or in the aggregate, have, or would reasonably be expected to have a material adverse effect on the ability of such Noteholder to carry out its obligations hereunder. 
		

		
			3.9 No Brokers or Finders.  None of such Noteholder nor any of its officers or directors or persons serving in a similar capacity has retained or authorized any agent, investment banker, financial advisor, broker, finder or other intermediary to act on behalf of such Noteholder or incurred any liability for any agent’s, banker’s, financial advisor’s, broker’s or finder’s fees or commissions in connection with the transactions contemplated by this Agreement. 
		

		
			3.10 Represented Accounts.  If a Noteholder is acting on behalf of a Represented Account hereunder, such Noteholder has (i) sole investment discretion with respect to each such 
		

		 

		

			8

		

 

		Represented Account, (ii) full power to make the foregoing representations, warranties and covenants on behalf of such Represented Account and (iii) the contractual authority to enter into this Agreement and to carry out the transactions contemplated hereby with respect to such Represented Account. 
		

		
			3.11 No Manipulation of Stock.  Such Noteholder has not taken, in violation of applicable law, any action designed to or that might reasonably be expected to cause or result in stabilization or manipulation of the price of the Common Stock to facilitate the transactions contemplated hereby or the sale or resale of the shares of Common Stock. 
		

		
			3.12 Nature of Transactions.  Such Noteholder had a sufficient amount of time to consider whether to participate in the transactions contemplated by this Agreement, and none of the Company or its respective affiliates and representatives has placed any pressure on such Noteholder to respond to the opportunity to participate in such transactions. The Noteholder acknowledges that the terms of such transactions have been mutually negotiated between such Noteholder and the Company. 
		

		
			3.13 No HSR.  The transactions contemplated hereby do not require any filing by such Noteholder (or its affiliates) under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”). 
		

		
			SECTION 4. Termination.  
		

		
			4.1 Conditions of Termination.  Notwithstanding anything to the contrary contained herein, with respect to any individual Noteholder, this Agreement may be terminated (a) at any time by mutual written agreement of the Company and the respective Noteholder, (b) by either Party if (i) the Closing shall not have occurred on or before May 31, 2021 or (ii) any governmental authority of competent jurisdiction shall have issued or entered any governmental order or taken any other action permanently restraining, enjoining or otherwise prohibiting or making illegal the consummation of any of the transactions contemplated herein; provided, however, the right to terminate this Agreement pursuant to Section 4.1(b) shall not be available to any Party whose failure to comply with or perform in any material respect any covenant under this Agreement shall have caused the Closing not to occur on or before such termination date. 
		

		
			4.2 Effect of Termination.  In the event of termination pursuant to Section 4.1 hereof, this Agreement shall become null and void with respect to any individual Noteholder and have no effect (other than this Section 4.2 and Section 6, which shall survive termination) with no liability on the part of the Company or such Noteholder, or their respective directors, officers, agents or stockholders, with respect to this Agreement, except for the liability of any fraud, or willful or intentional breach of this Agreement. 
		

		
			SECTION 5. Defined Terms.  Capitalized terms used, but not otherwise defined, in this Agreement have the meanings set forth in this Section 5. 
		

		
			5.1 “Bond Reference Price” means $2,165.20.  
		

		
			5.2 “Daily Exchange Price” means the sum of (i) the product of (A) the difference between (a) the applicable Daily Reference Price during the VWAP Period and (b) Share 
		

		 

		

			9

		

 

		Reference Price, multiplied by (B) the Existing Conversion Ratio, multiplied by (C) the Hedge Ratio, plus (ii) the Bond Reference Price, such resulting amount of clauses (i) and (ii) then divided by 3. 
		

		
			5.3 “Daily Exchange Ratio” means the quotient resulting from (i) the applicable Daily Exchange Price for the applicable trading day during the VWAP Period, divided by (ii) the Daily Reference Price for such trading day during the VWAP Period. 
		

		
			5.4 “Daily Reference Price” means the lesser of (i) the Daily VWAP or (ii) the Share Reference Price. 
		

		
			5.5 “Daily VWAP” means, with respect to any Trading Day (as defined in the Indenture) during the VWAP Period, the per share volume-weighted average price of the Common Stock on the Nasdaq Market (during standard market hours from 9:30am to 4:00pm) as displayed under the heading “Bloomberg VWAP” on Bloomberg page “GPRE <equity> AQR” (or its equivalent successor if such page is not available) with respect to such Trading Day (or if such volume-weighted average price is unavailable, the market value of one share of Common Stock on such Trading Day determined, using a volume weighted average method, by a nationally recognized independent investment banking firm retained for this purpose by the Company). The “Daily VWAP” shall be determined without regard to after-hours trading or any other trading outside of the regular trading session trading hours. 
		

		
			5.6 “Exchange Ratio” means the sum of each Daily Exchange Ratio during the VWAP Period. 
		

		
			5.7 “Exchanged Shares” means the product of (i) the principal amount of the Existing 2024 Notes set forth on the applicable Schedule A for each Noteholder divided by 1,000, and (ii) the Exchange Ratio. 
		

		
			5.8 “Existing Conversion Ratio” means 64.1540. 
		

		
			5.9 “Hedge Ratio” means 90%. 
		

		
			5.10 “Share Reference Price” means $31.82. 
		

		
			5.11 “VWAP Period” means the three (3) Trading Day (as defined in the Indenture) period beginning on and including the Trading Day immediately following the date of this Agreement. 
		

		
			SECTION 6. Miscellaneous.  
		

		
			6.1 Further Assurances.  In case at any time after the Closing any further action is necessary or desirable to carry out the purposes of this Agreement or the transactions contemplated hereby, each of the Parties will take such further action (including the execution and delivery of such further instruments and documents) as the other Party may reasonably request, at the requesting Party’s expense. 
		

		

		

		 

		

			10

		

 

		6.2 Assignability.  Neither this Agreement nor any right, remedy, obligation or liability arising hereunder or by reason hereof shall be assignable by either the Company or a Noteholder without the prior written consent of the other party. 
		

		
			6.3 Counterparts.  This Agreement may be executed simultaneously in counterparts (including by means of facsimile or other electronic transmission), any one of which need not contain the signatures of more than one Party, but all such counterparts taken together shall constitute one and the same agreement. 
		

		
			6.4 Descriptive Headings; Interpretation.  The headings and captions used in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. Any capitalized terms used in Schedule A and not otherwise defined therein shall have the meanings set forth in this Agreement. The use of the word “including” herein shall mean “including without limitation”. The Parties intend that each representation, warranty and covenant contained herein shall have independent significance. 
		

		
			6.5 Entire Agreement.  This Agreement and the agreements and documents referred to herein contain the entire agreement and understanding among the Parties with respect to the subject matter hereof and supersede all prior agreements and understandings, whether written or oral, relating to such subject matter in any way. 
		

		
			6.6 Amendment.  This Agreement may be amended, modified, discharged, terminated or supplemented but only in writing (including a writing evidenced by a facsimile transmission or other electronic transmission) signed by the Party against which enforcement is sought. 
		

		
			6.7 Expenses.  Except as set forth in the following sentence, each Party will bear its own fees and expenses in connection with the transactions contemplated hereby. 
		

		
			6.8 APPLICABLE LAW; WAIVER OF JURY TRIAL.  THIS AGREEMENT, AND ANY CLAIM, COUNTERCLAIM OR DISPUTE OF ANY KIND OR NATURE WHATSOEVER ARISING OUT OF OR IN ANY WAY RELATING TO THIS AGREEMENT, SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. THE PARTIES AGREE TO WAIVE ANY RIGHT TO TRIAL BY JURY IN ANY DISPUTE ARISING FROM OR RELATED TO THIS AGREEMENT. 
		

		
			6.9 Submission to Jurisdiction.  Each Party agrees that any suit, action or proceeding bought by it against the other Party arising out of or based upon this Agreement or the transactions contemplated hereby shall be instituted exclusively in federal or state courts located in the State of New York, and waives any objection which it may now or hereafter have to the laying of venue of any such proceeding. 
		

		
			6.10 Survival. All authority herein conferred or agreed to be conferred in this Agreement shall survive the dissolution of such Noteholder and any representation, warranty, undertaking and obligation of such Noteholder hereunder shall be binding upon the trustees in bankruptcy, legal representatives, successors and assigns of such Noteholder. 
		

		

		

		 

		

			11

		

 

		6.11 Taxation. The Noteholder acknowledges that, if a Noteholder is a United States person for U.S. federal income tax purposes, either (i) the Company must be provided with a correct taxpayer identification number (“TIN”) (generally a person’s social security or federal employer identification number) and certain other information on a properly completed and executed Internal Revenue Service (“IRS”) Form W-9, which is provided herein on Exhibit C attached to this Agreement, or (ii) another basis for exemption from backup withholding must be established. The Noteholder further acknowledges that, if a Noteholder is not a United States person for U.S. federal income tax purposes, the Company must be provided the appropriate properly completed and executed IRS Form W-8, attesting to that non-U.S. Noteholder’s foreign status. The Company shall request all necessary tax forms, including IRS Form W-9 and IRS Form W-8, as applicable, from each Noteholder as may be reasonably necessary to reduce or eliminate any such withholding or deduction. Each Noteholder further acknowledges that, if it fails to provide such necessary tax forms, payments made to such Noteholder pursuant to this Agreement may be subject to 30% U.S. federal withholding on amounts, if any, attributable to accrued and unpaid interest or 24% U.S. federal backup withholding unless such Noteholder properly establishes an exemption from, or a reduced rate of, such withholding or backup withholding. 
		

		
			6.12 Notices. All notices, demands or other communications to be given or delivered under or by reason of the provisions of this Agreement shall be in writing and shall be delivered by electronic mail to the address designated below, and shall be effective on the date that the email is sent (provided that the sender has not received any “bounceback”). However, if the time of deemed receipt of any notice is not before 5:30 p.m. New York City time on a business day at the address of the recipient it is deemed to have been received at the commencement of business on the next business day: 
		

		
			If to the Company: 
		

		
			1811 Aksarben Drive
		

		
			Omaha, NE 68106
		

		
			Telephone: (402) 952-4906
E-mail: Patrich.Simpkins@gpreinc.com
		

		
			Attention: Chief Financial Officer
		

		
			If to the Noteholders: 
		

		
			To the address or addresses set forth on Schedule A
		

		
			6.13 Notification of Changes.  Each Noteholder hereby covenants and agrees to notify the Company upon the occurrence of any event prior to the Closing Date which would cause any representation, warranty or covenant of such Noteholder contained in this Agreement to be false or incorrect. 
		

		
			6.14 No Construction Against Draftsperson.  The Parties have participated jointly in the negotiation and drafting of this Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the Parties, and no presumption or burden of proof shall arise favoring or disfavoring any Party by virtue of the authorship of any of the provisions of this Agreement. 
		

		

		

		 

		

			12

		

 

		6.15 No Integration.  The Company shall not sell, offer for sale or solicit offers to buy or otherwise negotiate in respect of any security (as defined in Section 2 of the Securities Act) that would be integrated with the offer or sale of the Exchanged Shares in a manner that would (i) require the registration under the Securities Act of the offer and sale of any of the Exchanged Shares in the manner contemplated by this Agreement or (ii) be aggregated with the sale of the Exchanged Shares for purposes of the rules and regulations of any trading market on which the Common Stock is listed such that it would require shareholder approval for the sale or issuance of the Exchanged Shares as contemplated by this Agreement. 
		

		
			(Signatures on next page) 
		

		
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			13

		

 

		IN WITNESS WHEREOF, the Parties hereto have executed this Exchange Agreement as of the date first written above. 
		

			
					
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						COMPANY:

				
	
					
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						GREEN PLAINS INC.

				
	
					
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						By:

					
					
						/s/ Patrich Simpkins

				
	
					
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						Name:

					
					
						Patrich Simpkins

				
	
					
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						Title

					
					
						Chief Financial Officer

				

		
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						NOTEHOLDER:

				
	
					
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						HIGHBRIDGE TACTICAL CREDIT MASTER FUND, L.P.

				
	
					
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						(in its capacities described in the first paragraph hereof)

				
	
					
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						By: Highbridge Capital Management, LLC, as

				
	
					
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						Trading Manager

				
	
					
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						By:

					
					
						/s/ Jonathan Segal

				
	
					
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						Name:

					
					
						Jonathan Segal

				
	
					
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						Title

					
					
						Portfolio Manager / Co-Chief Investment Officer

				
	
					
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						HIGHBRIDGE CONVERTIBLE

				
	
					
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						DISLOCATION FUND, L.P.

				
	
					
						﻿

					
					
						 

					
					
						(in its capacities described in the first paragraph hereof)

				
	
					
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						﻿

					
					
						 

					
					
						By: Highbridge Capital Management, LLC, as

				
	
					
						﻿

					
					
						 

					
					
						Trading Manager

				
	
					
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						﻿

					
					
						 

					
					
						By:

					
					
						/s/ Jonathan Segal

				
	
					
						﻿

					
					
						 

					
					
						Name:

					
					
						Jonathan Segal

				
	
					
						﻿

					
					
						 

					
					
						Title

					
					
						Portfolio Manager / Co-Chief Investment Officer

				

		
			 
		

		

		

		 

		

			[Signature Page to Exchange Agreement]

		

 

		SCHEDULE A

		

			
					
						Name and Address of
Beneficial Owner

					
					
						Principal Amount of Exchanged Notes 

					
					
						Number of Exchange Shares

					
					
						Interest

					
					
						DWAC Instructions for Delivery of Exchange Shares

				
	
					
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Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00327-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00327-of-00352.parquet"}]]