Document:

10.5

 

REVOLVING
NOTE

 

	$1,000,000.00	Chicago, Illinois
	 	May 11, 2012

  

FOR VALUE RECEIVED,
The Wood Energy Group, Inc., a Missouri corporation (“Maker”), promises to pay to the order of Fifth Third Bank, an
Ohio banking corporation, (“Bank”), at its offices at 222 South Riverside Plaza, 32nd Floor, Chicago, Illinois
60606 or at such other place as the holder of this Note may designate in writing to the Maker, on or before June 1, 2017, the principal
sum of One Million and 00/100 Dollars ($1,000,000.00), or, if less, the aggregate amount of Revolving Loans with respect to the
Working Capital Facility advanced and unpaid pursuant to that certain Amended and Restated Loan and Security Agreement dated as
of even herewith, made by and between the Maker and the Bank, as the same may be further amended from time to time (the “Loan
Agreement”), the terms of which are incorporated by reference and made a part of this Note as though fully set out herein.
Capitalized terms used and not otherwise defined herein shall have the meanings ascribed to such terms in the Loan Agreement. The
amount advanced and outstanding under the Loan Agreement as shown on the books and records of the Bank shall be considered correct
and conclusively binding on the Maker absent manifest error.

 

The Maker further promises
to pay interest on the Revolving Loans as provided in the Loan Agreement. All payments received from the Maker hereunder shall
be applied by the Bank in accordance with the terms of the Loan Agreement.

 

This Note and any renewals
and extensions hereof, and any other Obligations of the undersigned to the Holder hereof (the term “Holder” shall include
the Bank and any subsequent holder hereof) due or to become due, now existing or hereafter contracted, and howsoever acquired by
the Holder, are secured in the manner described in the Loan Agreement.

 

This Note is issued
under the Loan Agreement and this Note and the Holder are entitled to all of the benefits provided for by the Loan Agreement or
referred to therein, to which Loan Agreement reference is made for a statement thereof. Pre-payments may be made hereon only at
the times, in the events and in the manner provided in the Loan Agreement.

 

All unpaid amounts
owing on this Note or on any other Obligations immediately shall become due and payable at the option of the Holder, without notice
or demand, upon the occurrence of any Event of Default.

 

In the event of default
in the payment of any sums due under this Note, the Maker hereby agrees that the Bank may offset all money, bank or other deposits
or credits now or hereafter held by the Bank or owed by the Bank to Maker against all amounts due under this Note or against any
other amounts which may be due the Bank from the Maker.

 

    	 

    	 

    

 

No clause or provision
contained in this Note or any documents related hereto shall be construed or shall so operate (a) to raise the interest rate set
forth in this Note above the lawful maximum, if any, in effect from time to time in the applicable jurisdiction for loans to borrowers
of the type, in the amount, for the purposes, and otherwise of the kind contemplated, or (b) to require the payment or the doing
of any act contrary to law, but if any clause or provision contained herein shall otherwise so operate to invalidate this Note,
in whole or in part, then (i) such clauses or provisions shall be deemed modified to the extent necessary to be in compliance with
the law, or (ii) to the extent not possible, shall be deemed void as though not contained and the remainder of this Note and such
document shall remain operative and in full force and effect.

 

All makers and any
endorsers, guarantors, sureties, accommodation parties and all other persons liable or to become liable for all or any part of
this indebtedness, jointly and severally waive diligence, presentment, protest and demand, and also notice of protest, of demand,
of nonpayment, of dishonor and of maturity and also recourse or suretyship defenses generally; and they also jointly and severally
hereby consent to any and all renewals, extensions or modifications of the terms of this Note, including time for payment, and
further agree that any such renewals, extension or modification of the terms of this Note or the release or substitution of any
security for the indebtedness under this Note or any other indulgences shall not affect the liability of any of the parties for
the indebtedness evidenced by this Note. Any such renewals, extensions or modifications may be made without notice to any of said
parties.

 

The Maker shall be
liable to the Holder for all reasonable costs and expenses incurred in connection with collection, whether by suit or otherwise,
of any amount due under this Note, including, without limitation, attorneys’ fees, as more fully set forth in the Loan Agreement.

 

This Note shall be
governed by and construed in accordance with the laws of the State of Illinois. 

 

	The Wood Energy Group, Inc.	 
	 	 
	By:	/s/ Jon Ryan	 
	Its:	President10.6

 

CAPEX
NOTE

 

	$500,000.00	Chicago, Illinois
	 	May 11, 2012

 

FOR VALUE RECEIVED,
The Wood Energy Group, Inc., a Missouri corporation (“Maker”), promises to pay to the order of Fifth Third Bank, an
Ohio banking corporation, (“Bank”), at its offices at 222 South Riverside Plaza, 32nd Floor, Chicago, Illinois
60606 or at such other place as the holder of this Note may designate in writing to the Maker, on or before May 31, 2013, the principal
sum of Five Hundred Thousand and 00/100 Dollars ($500,000.00), or, if less, the aggregate amount of Capex Loans with respect to
the Capex Facility advanced and unpaid pursuant to that certain Amended and Restated Loan and Security Agreement dated as of May
11, 2012, made by and between the Maker and the Bank, as the same may be further amended from time to time (the “Loan Agreement”),
the terms of which are incorporated by reference and made a part of this Note as though fully set out herein. Capitalized terms
used and not otherwise defined herein shall have the meanings ascribed to such terms in the Loan Agreement. The amount advanced
and outstanding under the Loan Agreement as shown on the books and records of the Bank shall be considered correct and conclusively
binding on the Maker absent manifest error.

 

The Maker further promises
to pay interest on the Capex Loans as provided in the Loan Agreement. All payments received from the Maker hereunder shall be applied
by the Bank in accordance with the terms of the Loan Agreement. Principal amounts repaid on the Capex Loans may not be borrowed
again.

 

This Note and any renewals
and extensions hereof, and any other Obligations of the undersigned to the Holder hereof (the term “Holder” shall include
the Bank and any subsequent holder hereof) due or to become due, now existing or hereafter contracted, and howsoever acquired by
the Holder, are secured in the manner described in the Loan Agreement.

 

This Note is issued
under the Loan Agreement and this Note and the Holder are entitled to all of the benefits provided for by the Loan Agreement or
referred to therein, to which Loan Agreement reference is made for a statement thereof. Pre-payments may be made hereon only at
the times, in the events and in the manner provided in the Loan Agreement.

 

All unpaid amounts
owing on this Note or on any other Obligations immediately shall become due and payable at the option of the Holder, without notice
or demand, upon the occurrence of any Event of Default.

 

In the event of default
in the payment of any sums due under this Note, the Maker hereby agrees that the Bank may offset all money, bank or other deposits
or credits now or hereafter held by the Bank or owed by the Bank to Maker against all amounts due under this Note or against any
other amounts which may be due the Bank from the Maker.

 

    	 

    	 

    

 

No clause or provision
contained in this Note or any documents related hereto shall be construed or shall so operate (a) to raise the interest rate set
forth in this Note above the lawful maximum, if any, in effect from time to time in the applicable jurisdiction for loans to borrowers
of the type, in the amount, for the purposes, and otherwise of the kind contemplated, or (b) to require the payment or the doing
of any act contrary to law, but if any clause or provision contained herein shall otherwise so operate to invalidate this Note,
in whole or in part, then (i) such clauses or provisions shall be deemed modified to the extent necessary to be in compliance with
the law, or (ii) to the extent not possible, shall be deemed void as though not contained and the remainder of this Note and such
document shall remain operative and in full force and effect.

 

All makers and any
endorsers, guarantors, sureties, accommodation parties and all other persons liable or to become liable for all or any part of
this indebtedness, jointly and severally waive diligence, presentment, protest and demand, and also notice of protest, of demand,
of nonpayment, of dishonor and of maturity and also recourse or suretyship defenses generally; and they also jointly and severally
hereby consent to any and all renewals, extensions or modifications of the terms of this Note, including time for payment, and
further agree that any such renewals, extension or modification of the terms of this Note or the release or substitution of any
security for the indebtedness under this Note or any other indulgences shall not affect the liability of any of the parties for
the indebtedness evidenced by this Note. Any such renewals, extensions or modifications may be made without notice to any of said
parties.

 

The Maker shall be
liable to the Holder for all reasonable costs and expenses incurred in connection with collection, whether by suit or otherwise,
of any amount due under this Note, including, without limitation, attorneys’ fees, as more fully set forth in the Loan Agreement.

 

This Note shall be
governed by and construed in accordance with the laws of the State of Illinois.

 

	The Wood Energy Group, Inc.	 
	 	 	 
	By:	/s/ Jon Ryan	 
	Its:	President

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