Document:

Exhibit 10.8

ORACLE INVESTMENT MANAGEMENT

OFFICE SERVICES AGREEMENT

This Agreement is dated __________, 2005 and is entered into between
Oracle Investment Management, Inc. (“Firm”) and Oracle Healthcare
Acquisition Corp. (“Client”). 
Firm and Client agree that Firm will provide to Client for and in
consideration of the fees set forth herein, an exclusive license to use the
offices as provided herein below and, in common with Firm’s other clients, the
non-exclusive license to use Firm’s facilities and services as outlined below.

1.             BASIC
TERMS.

A.            Monthly Fixed Fee
for Base Services (as defined in Section 2 below): $2,000

B.            Monthly Fixed Fee
for Office Services (as defined in Section 3 below): $5,500

C.            Facilities: 200
Greenwich Avenue, 3rd Floor, Greenwich, Connecticut 06830 (the “Building”)
and the offices contained therein  (the “Offices”).

D.            Term: from the
effective date of Client’s proposed initial public offering of its units
pursuant to Client’s Registration Statement on Form S-1 as filed with the Securities
and Exchange Commission on [_________], 2005, as amended (such Registration
Statement, the “Registration Statement” and such date, the “Effective
Date”) until the earlier of Client’s (i) failure to enter into a letter of
intent, definitive agreement or agreement in principle with respect to a
Business Combination (as defined in the Registration Statement) on any day
during the eighteen-month period immediately following the Effective Date, and
(ii) the failure to consummate a Business Combination on any day during the
twenty-four-month period immediately following the Effective Date (the “Term”).

2.             BASE
SERVICES.  Client shall be provided with the
non-exclusive use of the Offices and shall have access to the Offices
twenty-four (24) hours a day, seven (7) days a week.  In exchange for the Monthly Fixed Fee for
Base Services, Firm agrees to provide the following base services: office
cleaning, maintenance services, office supplies, electricity, heating and air conditioning
to the Offices (the “Base Services”). 
In addition, Client will have reasonable use of Firm common area
facilities.  Client shall use the Offices
and auxiliary areas of the facilities solely for general office use in the
conduct of the Client’s business.

If for any reason whatsoever, Firm is unable to deliver possession of
the Offices or a mutually agreed upon alternative office at the time herein
agreed, Client may either extend the Commencement Date until the Offices become
available or, as its sole remedy for such failure, cancel and terminate this
Agreement if the Offices are not delivered to Client within five (5) business
days after written notice to Firm by Client, in which case any prior payments
shall be fully refunded.  No such failure
to deliver possession shall subject Firm to any liability for

 

 

loss or damage, nor affect the validity of this
Agreement or the obligations of the Client hereunder.

In order to accommodate the needs of potential multiple office clients,
Firm will have the right, upon ten (10) days’ written notice, to relocate
Client to other offices in the Building and to substitute such other offices
for the Offices contracted herein, provided such other offices are
substantially similar in area and configuration to Client’s contracted offices
and provided Client shall incur no increase in the total monthly fee or any
relocation cost or expense.

3.             OFFICE
SERVICES.  Firm agrees, in exchange for a Monthly Fixed
Fee for Office Services (which fee is in addition to the Monthly Fixed Fee for
Base Services), to provide the following office services: administrative
support, including, but not limited to, information technology, secretarial and
bookkeeping services as well as communications services such as unlimited use
of Internet/Data, telephone, fax and photocopier (the “Office Services”).

Client will not offer to any party in the Firm Building any of the
services which Firm provides to Client. 
Firm will answer all incoming phone calls, unless otherwise mutually
agreed, during normal business hours, as reasonably determined by Firm.

Client acknowledges that due to the imperfect nature of verbal, written
and electronic communications, Firm shall not be responsible for damages,
direct or consequential, which may result from the failure of Firm to furnish
any service, including but not limited to the conveying of messages,
communications and other utilities or services required under this Agreement.

Client expressly agrees to waive the right to make any claim for
damages, direct or consequential, arising out of any failure to furnish any
utility, service or facility, any error or omission with respect thereto, or
any delay or interruption of the same.

4.             DURATION
OF AGREEMENT.  After expiration of the Term, the Agreement
will automatically terminate.  Prior to
expiration of the term, either party may terminate the Agreement upon thirty
(30) days’ advance written notice to the other party.

5.             PAYMENTS. 
The monthly invoices/statements for the Monthly Fixed Fee for Base
Services and the Monthly Fixed Fee for Office Services will be billed in
advance.  Statements will be placed in
the mailbox or faxed to Client on the first day of each month with payments due
by the fifth day of each month.  If the
term shall not commence on the first day of a month or end on the last day of a
month, fees for any such month shall be prorated.  All amounts payable hereunder shall be
payable at the office of Firm or to such other location or to any agent
designated in writing by Firm.

6.             DAMAGES
AND INSURANCE.  Client will not damage or deface the
furnishings, walls, floors or ceiling. 
Client will not cause damage to any part of the facilities or the
Building or disturb the quiet enjoyment of any other licensee or occupant of
the Building nor suffer to be made any waste, obstruction or unlawful, improper
or offensive use of the Offices or the common area facilities.  At the termination of this Agreement, Client
will return the Offices in as good of condition as when Client took possession,
though normal wear and tear shall be

 

2

 

expected.  Firm shall have the right to show the Offices
to prospective clients, provided Firm will use reasonable efforts not to
disrupt Client’s business.

Firm and its respective directors, licensors, officers, agents,
servants and employees shall not, to the extent permitted by law, except upon
the affirmative showing of Firm’s gross negligence or willful misconduct, be
liable for, and Client waives all right of recovery against such entities and
individuals for any damage or claim with respect to any injury to person or
damage to, or loss or destruction of any property of Client, its employees,
authorized persons and invitees due to any act, omission or occurrence in or
about the Firm facilities or the Building. 
Without limitation of any other provision hereof, Client agrees to
indemnify, defend, protect and hold Firm and its respective directors,
licensors, officers, agents, servants and employees harmless from and against
all liability to third parties arising out of Client’s use and occupancy of the
Offices or actions or omissions of Client and its agents, employees,
contractors, and invitees.  Client
further agrees that all personal property of Client, its agents, employees,
contractors, and invitees, within or about the Firm facilities of the Building
shall be at the sole risk of Client.

Firm and Client each hereby waive any and all rights of recovery
against each other, or against the officers, employees, agents or
representatives of the other, for loss of or damage to its property or the
property of others under its control, to the extent such loss or damage is
covered by any insurance policy.

If Firm’s Building or facilities are made unusable, in whole or in part
by fire or other casualty not due to the negligence of Client, Firm may, at its
option, terminate the Agreement upon notice to Client, effective upon such
casualty, or may elect to repair, restore, or rehabilitate, or cause to be
repaired, restored or rehabilitated, the Firm facilities, without expense to Client,
within ninety (90) days or within such longer period of time as may be required
because of events beyond Firm ‘s control. 
The Monthly Fixed Fee for Base Services and the Monthly Fixed Fee for
Office Services shall be abated on a pro rata basis for the period of time the
Offices are unusable.

7.             DEFAULT. 
The Client shall be deemed to be in default under this Agreement: (a) if
Client fails to pay the Monthly Fixed Fee for Base Services or Monthly Fixed
Fee for Office Services, (b) if Client fails to promptly and fully perform any
other provisions of this Agreement and any such default continues in excess of
five (5) business days after written notice by Firm, or (c) if Client fails to
comply with the laws or permit licensing rules and other requirements
regulating the conduct of Client’s business. 
Should Client be in default hereunder, Firm may terminate any or all of
the services for the period of such default.

8.             TRUST FUND WAIVER. 
Firm has no right, title, interest, or claim of any kind (“Claim”)
in or to any monies in the Trust Account (as defined in that certain Investment
Management Trust Agreement, dated as of the date hereof, by and between the
Company and Continental Stock Transfer
& Trust Company,
as trustee of the Trust Account), and hereby waives any Claim in or to any
monies in the Trust Account it may have in the future, and hereby agrees not to
seek recourse, reimbursement, payment or satisfaction for any Claim against the
Trust Account for any reason whatsoever.

 

3

 

9.             MISCELLANEOUS.

A.            This is the only
Agreement between the parties.  All
amendments to this Agreement shall be in writing and signed by all
parties.  Any attempted amendment shall
be void.  The invalidity or
unenforceability of any provision hereof shall not affect the remainder hereof.

B.            All waivers must be
in writing and signed by the waiving party. 
Firm’s failure to enforce any provision of this Agreement or its
acceptance of fees shall not be a waiver and shall not prevent Firm from
enforcing any provisions of this Agreement in the future.  No receipt of money by Firm shall be deemed
to waive any default of Client or to extend, reinstate or continue the term
hereof.

C.            The laws of the
State of New York shall govern this Agreement.

D.            Client represents and warrants to Firm
that there are no agents, brokers, finders or other parties with whom Client
has dealt who are or may be entitled to any commission or fee with respect to
this Agreement.

E.             Neither
Client nor anyone claiming by, through or under Client shall assign this
Agreement or permit the use of any portion of the Offices or the Firm Building
or facilities by any person other than Client.

F.             All
notices hereunder shall be in writing. 
Notices to Client shall be deemed to be duly given if hand-delivered to
Client’s mailbox in the Firm facilities at 200 Greenwich Avenue, 3rd Floor,
Greenwich, Connecticut 06830.  Notice to
Firm shall be deemed to be duly given if mailed by registered or certified
mail, postage prepaid, to  200 Greenwich
Avenue, 3rd Floor, Greenwich, Connecticut 06830.

G.            The Client
acknowledges that Firm will comply with U.S. Postal Service regulations
regarding client mail and, upon termination of this Agreement, it will be
Client’s responsibility to notify all parties of termination of the use of the above-described address.

H.            Firm may assign this
Agreement and/or any fees hereunder and Client agrees to attorn any such
assignee.

I.              Notwithstanding
anything to the contrary contained herein, Client shall look solely to the
interest of Firm in the Master Lease for the satisfaction of any of Client’s
remedies with regard to the payment of money or otherwise and no other property
or assets of Firm shall be subject to levy, execution or other enforcement
procedures for the satisfaction of Client’s remedies or with respect to this
Agreement, the relationship of the parties hereunder or Client’s use of the
Premises, such exculpation of personal liability to be absolute.

J.             Firm shall not be
liable for any interruption or error in the performance of its services to
Client.  Client waives any recourse
against Firm arising from the provision of such services, including, without
limitation, any claim of business interruption or for any indirect,

 

4

 

incidental,
special, consequential or punitive damages, except for claims arising out of
willful misconduct by Firm.

K.            Firm will not be
liable for any claim of business interruption or for any indirect, incidental,
special, consequential, exemplary or punitive damages arising out of any
failure to furnish any service or facility, any error or omission with respect
thereto, or any delay or interruption of the same.

L.             Firm and its agents
will have the right of access to the Offices and the Firm Building and
facilities at any time for the purpose of (i) making any repairs, alterations
and/or inspections that it deems necessary in its sole discretion for the
preservation, safety or improvements of the facilities, or (ii) to show the
facilities to prospective Clients without in any way being deemed or held to
have committed an eviction (constructive or otherwise) of or trespass against
Client.

M.           Failure of Firm to
insist upon the strict performance of any term or condition of this Agreement
or to exercise any right or remedy available for a breach thereof, or
acceptance of full or partial payment during the continuance of any such
breach, will not constitute a waiver of any such breach or any such term or
condition.  No term or condition of this
Agreement required to be performed by Client and no breach thereof, will be
waived, altered or modified, except by a written instrument executed by Firm.

N.            Client will comply
with and be bound by all provisions of the Master Lease and, subject to the
limitations listed above in Section 6, Client will indemnify and hold Firm
harmless from and against any claim or liability under the Master Lease arising
from Client’s breach of the Master Lease or this Agreement.

	
  ORACLE HEALTHCARE
  ACQUISITION CORP.

  	
  ORACLE INVESTMENT MANAGEMENT,  INC.

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Date:

  	
   

  	
   

  	
  Date:

  	
   

  	
   

  

 

 

5QuickLinks
 -- Click here to rapidly navigate through this document

ADVANCED BIOENERGY, LLC  

 SUBSCRIPTION AGREEMENT  

Limited Liability Company Membership Units 

$10.00 per Unit  

 Minimum Investment of 2,500 Units ($25,000)

100 Unit Increments Thereafter ($1,000)  

        The undersigned subscriber, desiring to become a member of Advanced BioEnergy, LLC ("Advanced BioEnergy"), a Delaware limited liability company, with its
principal place of business at 137 N. 8th Street, Geneva, Nebraska 68361, hereby subscribes for the purchase of the membership interests of Advanced BioEnergy, and agrees to pay the
related purchase price, identified below.

        A.    SUBSCRIBER INFORMATION. Please print your individual or entity name and address. Joint subscribers
should provide their respective names. Your name and address will be recorded exactly as printed below.  

	1.	 	Subscriber's Printed Name	 	    

	2.	 	Title, if applicable:	 	    

	3.	 	Subscriber's Address:	 	    

	 	 	    Street	 	    

	 	 	    City, State, Zip Code	 	    

	4.	 	Email Address:	 	    

        B.    NUMBER OF UNITS PURCHASED. You must purchase at least 2500 units. We presently have 634,650 units
outstanding. The maximum number of units to be sold is 6,732,500.

                                        
                        

                                        
                        
 

        C.    PURCHASE PRICE. Indicate the dollar amount of your investment (minimum investment is $25,000). 

	1. Total Purchase Price	 	=	 	2. 1st Installment	 	+	 	3. 2nd Installment
	($10.00 Per Unit multiplied by the number in box B above.)	 	 	 	(10% of the Total Purchase Price)	 	 	 	(90% of the Total Purchase Price)
	
	 	 	 	
	 	 	 	

	

	
 	

=	
 	

	
 	

+	
 	

        D.    GENERAL INSTRUCTIONS FOR SUBSCRIBERS:

        You should read the Prospectus dated [Date of Effectiveness] (the "Prospectus") in its
entirety including exhibits for a complete explanation of an investment in Advanced BioEnergy, LLC. To subscribe, you must:

        INSTRUCTIONS
IF YOU ARE SUBSCRIBING PRIOR TO THE COMPANY'S RELEASE OF FUNDS FROM ESCROW: If you are subscribing
prior to the Company's release of funds from escrow, you must follow Steps 1 through 5 below:

        1.     Complete
all information required in this Subscription Agreement, and date and sign the Subscription Agreement on page 6 and the Member Signature Page to our Amended and
Restated Operating Agreement attached to this Subscription Agreement as Exhibit A. 

        2.     Immediately
provide your personal (or business) check for the first installment of ten percent (10%) of your investment amount made payable to Geneva State Bank, escrow
agent for Advanced BioEnergy LLC. You will determine this amount in box C.2 on page 1 of this Subscription Agreement. 

        3.     Execute
the Promissory Note and Security Agreement on page 7 of this Subscription Agreement evidencing your commitment to pay the remaining ninety percent (90%) due for
the Units that is attached to this Subscription Agreement and grant Advanced BioEnergy, LLC a security interest in your Units. 

        4.     Deliver
each of the original executed documents referenced in Items 1 and 3 of these Instructions, together with your personal or business check described in Item 2 of
these Instructions to either of the following: 

	Advanced BioEnergy, LLC

137 N. 8th Street

Geneva, Nebraska 68361	 	Geneva State Bank

Attn: Aaron Schardt

896 "G" Street

Geneva, Nebraska 68361

        5.     Upon
written notice from Advanced BioEnergy, LLC stating that its sales of Units have exceeded the Minimum Offering amount of $33,662,500, you must, within twenty
(20) days secure an additional personal (or business) check for the second installment of ninety percent (90%) of your investment amount made payable to Geneva State Bank, escrow agent for
Advanced BioEnergy, LLC in satisfaction of the Promissory Note and Security Agreement. You will determine this amount in box C.3 on page 1 of this Subscription Agreement. You must deliver this check
to the same address set forth above in Instruction 4 within twenty (20) days of the date of Advanced BioEnergy's written notice. If you fail to pay the second installment pursuant to the
Promissory Note and Security Agreement, Advanced BioEnergy shall be entitled to retain your first installment and to seek other damages, as provided in the Promissory Note and Security Agreement. 

        Your
funds will be placed in Advanced BioEnergy's escrow account at Geneva State Bank. The funds will be released to Advanced BioEnergy or returned to you in accordance with the escrow
arrangements described in the Prospectus. Advanced BioEnergy may, in its sole discretion, reject or accept any part or all of your subscription. If Advanced BioEnergy rejects your subscription, your
Subscription Agreement and investment will be promptly returned to you, plus nominal interest, minus escrow fees. Advanced BioEnergy may not consider the acceptance or rejection of your subscription
until a future date near the end of this offering. 

        INSTRUCTIONS
IF YOU ARE SUBSCRIBING AFTER THE COMPANY'S RELEASE OF FUNDS FROM ESCROW: If you are subscribing after
the Company's release of funds from escrow, you must follow Steps 1 through 3 below:

        1.     Complete
all information required in this Subscription Agreement, and date and sign the Subscription Agreement on page 6 and the Member Signature Page to our Amended and
Restated Operating Agreement attached to this Subscription Agreement as Exhibit A. 

        2.     Immediately
provide your personal (or business) check for the entire amount of your investment (as determined in Box C.1 on page 1) made payable to
"Advanced BioEnergy, LLC." 

        3.     Deliver
the original executed documents referenced in Item 1 of these Instructions, together with your personal or business check described in Item 2 of these
Instructions to the following: 

Advanced
BioEnergy, LLC

137 N. 8th Street

Geneva, Nebraska 68361 

        If
you are subscribing after we have released funds from escrow and we accept your investment, your funds will be immediately at-risk as described in the Prospectus. Advanced
BioEnergy may, in its sole discretion, reject or accept any part or all of your subscription. If Advanced BioEnergy rejects your subscription, your Subscription Agreement and investment will be
returned to you promptly, plus nominal interest, minus escrow fees. Advanced BioEnergy may not consider the acceptance or rejection of your subscription until a future date near the end of this
offering. 

        Unless
you are a Texas investor, you may direct your questions to one of our directors listed below or to Advanced BioEnergy at 402-268-3101. 

	Director
 
	 	Phone Number

	John T. Porter	 	402-432-5247
	Troy Otte	 	402-362-3885
	John E. Lovegrove	 	402-366-4484
	Robert E. Bettger	 	402-268-3101
	Larry L. Cerny	 	402-759-1165
	Richard W. Hughes	 	402-759-4615
	Keith E. Spohn	 	402-947-8061

        If
you are a resident of Texas, or an entity with its principal place of business in Texas, please direct your questions only to Robert E. Bettger or Richard W. Hughes at their contact
information above. 

        E.    Additional Subscriber Information. The subscriber, named above, certifies the following under penalties of perjury: 

	1.	 	Form of Ownership. Check the appropriate box (one only) to indicate form of ownership. If the subscriber is a Custodian, Corporation, Partnership or Trust, please provide the additional
information requested.
	

 	
 	

o	
 	

Individual
	 	 	o	 	Joint Tenants with Right of Survivorship (Both signatures must appear on Page 6.)
	 	 	o	 	Corporation, Limited Liability Company or Partnership (Corporate Resolutions, Operating Agreement or Partnership Agreement must be enclosed.)
	 	 	o	 	Trust
	 	 	 	 	Trustee's
Name:                                        
   
	 	 	 	 	Trust
Date:                                        
   
	 	 	o	 	Other: Provide detailed information in the space immediately below.
	 	 	    

	 	 	    

	 	 	    

	

2.	
 	
Subscriber's Taxpayer Information. Check the appropriate box if you are a non-resident alien, a U.S. Citizen residing outside the United States or subject to backup withholding. Trusts should
provide their taxpayer identification number. Custodians should provide the minor's Social Security Number. All individual subscribers should provide their Social Security Number. Other entities should provide their taxpayer identification
number.
	

 	
 	

o	
 	

Check box if you are a non-resident alien
	 	 	o	 	Check box if you are a U.S. citizen residing outside of the United States
	 	 	o	 	Check this box if you are subject to backup withholding
	

 	
 	

Subscriber's Social Security
No.                                        
                    
	 	 	Joint Subscriber's Social Security
No.                                        
                    
	 	 	Taxpayer Identification
No.                                        
                    
	

3.	
 	
Member Report Address. If you would like duplicate copies of member reports sent to an address that is different than the address identified in section A, please complete this
section.
	

 	
 	

Address:                                        
                               
	 	 	                                        
                                          
    
	

4.	
 	
State of Residence.
	 	 	State of Principal
Residence:                                       
                     
	 	 	State where driver's license is
issued:                                        
                    
	 	 	State where resident income taxes are
filed:                                        
                    
	 	 	 	 	 

	

 	
 	

State(s) in which you have maintained your principal residence during the past three years:
	

 	
 	

A                                     b.    
                                 c.
	

5.	
 	
Suitability Standards. You cannot invest in Advanced BioEnergy unless you meet one, or more, of the following suitability tests (a or b) set forth below. Please review the suitability
tests and check the box(es) next to the following suitability test that you meet. For husbands and wives purchasing jointly, the tests below will be applied on a joint basis.
	

 	
 	

a. o (We) have annual income from whatever source of at least $45,000 and a net worth of at least $45,000, exclusive of home, furnishings and automobiles; or
	

 	
 	

b. o I (We) have a net worth of at least $100,000, exclusive of home, furnishings and automobiles.
	

6.	
 	
Subscriber's Representations and Warranties. You must read and certify your representations and warranties and sign and date this Subscription Agreement.
	

 	
 	

By signing below the subscriber represents and warrants to Advanced BioEnergy that he, she or it:

	a.
	has
received a copy of Advanced BioEnergy's Prospectus dated                        and the exhibits thereto;

	b.
	has
been informed that the Units of Advanced BioEnergy are offered and sold in reliance upon a federal securities registration; Nebraska, South Dakota, Iowa, Texas, Wisconsin, Kansas
and Florida securities registrations; and exemptions from securities registrations in various other states, and understands that the Units to be issued pursuant to this subscription agreement can only
be sold to a person meeting requirements of suitability;

	c.
	has
been informed that the securities purchased pursuant to this Subscription Agreement have not been registered under the securities laws of any state other than the States of
Nebraska, South Dakota, Iowa, Texas, Wisconsin, Kansas and Florida, and that Advanced BioEnergy is relying in part upon the representations of the undersigned Subscriber contained herein;

	d.
	has
been informed that the securities subscribed for have not been approved or disapproved by the Nebraska, South Dakota, Iowa, Texas, Wisconsin, Kansas and Florida Securities
Departments or any other regulatory authority, nor has any regulatory authority passed upon the accuracy or adequacy of the Prospectus;

	e.
	intends
to acquire the Units for his/her/its own account without a view to public distribution or resale and that he/she/it has no contract, undertaking, agreement or arrangement to
sell or otherwise transfer or dispose of any Units or any portion thereof to any other person;

	f.
	understands
that there is no present market for Advanced BioEnergy's membership units, that the membership units will not trade on an exchange or automatic quotation system, that no
such market is expected to develop in the future and that there are significant restrictions on the transferability of the membership units;

	g.
	has
been encouraged to seek the advice of his legal counsel and accountants or other financial advisers with respect to the tax and other considerations relating to the purchase of
units;

	h.
	has
received a copy of the Advanced BioEnergy Operating Agreement, dated February 18, 2005, and understands that upon closing the escrow by Advanced BioEnergy, the subscriber
and the membership units will be bound by the provisions of the Operating Agreement which contains, among other things, provisions that restrict the transfer of membership units; 

	i.
	understands
that the Units are subject to substantial restrictions on transfer under state securities laws along with restrictions in the Advanced BioEnergy Operating Agreement and
agrees that if the membership units or any part thereof are sold or distributed in the future, the subscriber shall sell or distribute them pursuant to the terms of the Operating Agreement, and the
requirements of the Securities Act of 1933, as amended, and applicable state securities laws;

	j.
	meets
the suitability test marked in Item 5 above and is capable of bearing the economic risk of this investment, including the possible total loss of the investment;

	k.
	understands
that Advanced BioEnergy will place a restrictive legend on any certificate representing any unit containing substantially the following language as the same may be amended
by the Directors of Advanced BioEnergy in their sole discretion: 

THE
TRANSFERABILITY OF THE UNITS REPRESENTED BY THIS CERTIFICATE IS RESTRICTED. SUCH UNITS MAY NOT BE SOLD, ASSIGNED, OR TRANSFERRED, NOR WILL ANY ASSIGNEE, VENDEE, TRANSFEREE, OR ENDORSEE THEREOF BE
RECOGNIZED AS HAVING ACQUIRED ANY SUCH UNITS FOR ANY PURPOSES, UNLESS AND TO THE EXTENT SUCH SALE, TRANSFER, HYPOTHECATION, OR ASSIGNMENT IS PERMITTED BY, AND IS COMPLETED IN STRICT ACCORDANCE WITH,
APPLICABLE STATE AND FEDERAL LAW AND THE TERMS AND CONDITIONS SET FORTH IN THE AMENDED AND RESTATED OPERATING AGREEMENT AS AGREED TO BY EACH MEMBER. 

THE
SECURITIES REPRESENTED BY THIS CERTIFICATE MAY NOT BE SOLD, OFFERED FOR SALE, OR TRANSFERRED IN THE ABSENCE OF EITHER AN EFFECTIVE REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND
UNDER APPLICABLE STATE SECURITIES LAWS, OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH TRANSACTION IS EXEMPT FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND UNDER
APPLICABLE STATE SECURITIES LAWS. 

	l.
	understands
that, to enforce the above legend, Advanced BioEnergy may place a stop transfer order with its registrar and stock transfer agent (if any) covering all certificates
representing any of the membership units;

	m.
	has
examined the information presented in the prospectus and exhibits and is competent to evaluate and establish that the investment is consistent with the subscriber's risk tolerance
and investment goals such that the subscriber can bear the economic risk of the purchase of Units including the total loss of the undersigned's investment;

	n.
	may
not transfer or assign this subscription agreement, or any of the subscriber's interest herein;

	o.
	has
written his, her, or its correct taxpayer identification number under Item E.2 on this subscription agreement;

	p.
	is
not subject to back up withholding either because he, she or it has not been notified by the Internal Revenue Service ("IRS") that he, she or it is subject to backup withholding as
a result of a failure to report all interest or dividends, or the IRS has notified him, her or it that he is no longer subject to backup withholding (Note this clause (p) should be crossed out
if the backup withholding box in Item 2 is checked);

	q.
	understands
that execution of the attached Promissory Note and Security Agreement will allow Advanced BioEnergy or its assigns to pursue the obligor for payment of the amount due
thereon by any legal means, including, but not limited to, acquisition of a judgment 

against
the obligor in the event that the subscriber defaults on that Promissory Note and Security Agreement; and 

	r.
	Acknowledges
that Advanced BioEnergy may retain possession of certificates representing subscriber's Units to perfect its security interest in those Units. 

Signature of Subscriber/Joint Subscriber:  

	Date:	 	    
	 	 	 	 
	

Individuals:	
 	

Entities:
	

    
 Name of Individual Subscriber (Please Print)	
 	

    
 Name of Entity (Please Print)
	

    
 Signature of Individual	
 	

    
 Print Name and Title of Officer
	

    
 Name of Joint Individual Subscriber (Please Print)	
 	

    
 Signature of Officer
	

    
 Signature of Joint Individual Subscriber	
 	

 	
 	

 

ACCEPTANCE OF SUBSCRIPTION BY ADVANCED BIOENERGY, LLC:  

Advanced
BioEnergy, LLC hereby accepts the subscription for the above Units. 

Dated
this        day of                        , 200  . 

	ADVANCED BIOENERGY, LLC	 	 
	

By:	

    
	
 	

 
	Its:	    
	 	 

 
 

PROMISSORY NOTE AND SECURITY AGREEMENT    
    

Date
of Subscription Agreement:                        , 200    . 

$10.00 per Unit  

 Minimum Investment of 2,500 Units ($25,000), 100 Unit Increments Thereafter ($1,000)  

	    
	 	Number of Units subscribed
	

    
	
 	

Total Purchase Price ($10.00 per Unit multiplied by number of Units subscribed)
	

(                  )
	
 	

Less Initial Payment (10% of Principal Amount)
	

    
	
 	

Principal Balance

        FOR VALUE RECEIVED, the undersigned hereby promises to pay to the order of Advanced BioEnergy, LLC, a Delaware limited liability company ("Advanced BioEnergy"), at its principal office
located at 137 N. 8th Street, Geneva, Nebraska 68361, or at such other place as required by Advanced BioEnergy, the Principal Balance set forth above in one lump sum to be paid without
interest within 20 days following the call of the Advanced BioEnergy Board of Directors, as described in the Subscription Agreement. In the event the undersigned fails to timely make any
payment owed, the entire balance of any amounts due under this full recourse Promissory Note and Security Agreement shall be immediately due and payable in full with interest at the rate of 12% per
annum from the due date and any amounts previously paid in relation to the obligation evidenced by this Promissory Note and Security Agreement may be forfeited at the discretion of Advanced BioEnergy.

 

        The
undersigned agrees to pay to Advanced BioEnergy on demand, all costs and expenses incurred to collect any indebtedness evidenced by this Promissory Note and Security Agreement,
including, without limitation, reasonable attorneys' fees. This Promissory Note and Security Agreement may not be modified orally and shall in all respects be governed by, construed, and enforced in
accordance with the laws of the State of Delaware. 

        The
provisions of this Promissory Note and Security Agreement shall inure to the benefit of Advanced BioEnergy and its successors and assigns, which expressly reserves the right to
pursue the undersigned for payment of the amount due thereon by any legal means in the event that the undersigned defaults on obligations provided in this Promissory Note and Security Agreement. 

        The
undersigned waives presentment, demand for payment, notice of dishonor, notice of protest, and all other notices or demands in connection with the delivery, acceptance, performance
or default of this Promissory Note and Security Agreement. 

        The
undersigned grants to Advanced BioEnergy, and its successors and assigns ("Secured Party"), a purchase money security interest in all of the undersigned's Membership Units of
Advanced BioEnergy now owned or hereafter acquired. This security interest is granted as non-exclusive collateral to secure payment and performance on the obligation owed Secured Party
from the undersigned evidenced by this Promissory Note and Security Agreement. The undersigned further authorizes Secured Party to retain possession of certificates representing such Membership Units
and to take any other actions necessary to perfect the security interest granted herein. 

Dated:                        ,
200  . 

	OBLIGOR/DEBTOR:	 	JOINT OBLIGOR/DEBTOR:
	    
 Printed or Typed Name of Joint Obligor	 	    
 Printed or Typed Name of Obligor
	

By:	

    
 (Signature)	
 	

By:	

    
 (Signature)
	    
 Officer Title if Obligor is an Entity	 	 	 
	    
	 	 	 
	    
	 	 	 
	    
 Address of Obligor	 	 	 

 
 

EXHIBIT "A"    
    
    MEMBER SIGNATURE PAGE    
    
    ADDENDA TO THE
  AMENDED AND RESTATED OPERATING AGREEMENT OF ADVANCED BIOENERGY, LLC    
    

        The undersigned does hereby represent and warrant that the undersigned, as a condition to becoming a Member in Advanced BioEnergy, LLC, has received a copy of the
Amended and Restated Operating Agreement dated June 30, 2005, and, if applicable, all amendments and modifications thereto, and does hereby agree that the undersigned, along with the other
parties to the Amended and Restated Operating Agreement, shall be subject to and comply with all terms and conditions of said Amended and Restated Operating Agreement in all respects as if the
undersigned had executed said Amended and Restated Operating Agreement on the original date thereof and that the undersigned is and shall be bound by all of the provisions of said Amended and Restated
Operating Agreement from and after the date of execution hereof. 

	Individuals:	 	Entities:
	
    
 Name of Individual Member (Please Print)	
 	

    
 Name of Entity (Please Print)
	

    
 Signature of Individual	
 	

    
 Print Name and Title of Officer
	

    
 Name of Joint Individual Member (Please Print)	
 	

    
 Signature of Officer
	

    
 Signature of Joint Individual Member	
 	

 

Agreed and Accepted on Behalf of the Company and its Members:  

	ADVANCED BIOENERGY, LLC	 	 
	

By:	

    
	
 	

 
	Its:	    
	 	 

QuickLinks

PROMISSORY NOTE AND SECURITY AGREEMENT

EXHIBIT "A" MEMBER SIGNATURE PAGE ADDENDA TO THE AMENDED AND RESTATED OPERATING AGREEMENT OF ADVANCED BIOENERGY, LLC

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00091-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00091-of-00352.parquet"}]]