Document:

Exhibit 10.63

 

Addendum
to Macadamia Nut Purchase Agreement

 

Between Mauna Loa Macadamia Nut Corporation
and ML Macadamia Orchards, L.P.  Dated January 1,
2006

 

This Addendum to the Macadamia Nut Purchase Agreement (Agreement) is
entered into on the date set forth below by and between Mauna Loa Macadamia Nut
Corporation (MLMNC-Buyer) and ML Macadamia Orchards, L.P. (MLP-Seller).

 

1.               Term.  This Addendum to the Agreement shall be
deemed to have commenced for all purposes as of July 21, 2008 and shall
continue in full force and effect until June 30, 2009 unless terminated
earlier as provided in the Agreement.

 

2.               Purchase and
Sale.  Under this Addendum MLP agrees
to sell and MLMNC agrees to purchase a minimum of 9 million additional pounds
of Macadamia Wet in Shell (WIS).  If
mutually agreed upon MLP will sell and MLMNC will purchase an additional 3
million pounds of Macadamia Wet in Shell under the same terms of the Addendum.

 

3.               Purchase Price.  The Purchase Price for the Macadamia Wet in
Shell covered under this addendum will be determined on a 20% moisture and 30%
Saleable Kernel recovery to Dry in Shell (SK/DIS) basis.  The price per pound will be $0.60/lb adjusted
to 20% moisture and 30% SK/DIS for the term of this contract.

 

4.               Payment Terms.  Payment shall be made according to Hershey
standard policies for vendor payments.

 

5.               All other terms
regarding Sampling, Testing, Accounting and Reports, Termination, Notice, Force
Majeure, Waiver, Assignment, Entire Agreement, Voluntary Mediation and
Governing Law under the Agreement will remain the same.

 

Mauna Loa Macadamia Nut Corp (MLMNC-Buyer)

 

	
  By: 

  	
    /s/ Charles Young

  	
   

  
	
  Its:    Director of Agribusiness

  	
   

  
	
  Date:  July 9, 2008

  	
   

  
	
   

  	
   

  	
   

  
	
  ML   Macadamia Orchards, L.P.
  (MLP-Seller)

  	
   

  
	
   

  	
   

  
	
  By: 

  	
    /s/ Dennis J. Simonis

  	
   

  
	
  Its:    President

  	
   

  
	
  Date:  July 9, 2008Exhibit 10.64

 

	
  For
  Immediate Release

  	
   

  	
  Contact: Dennis J. Simonis

  	
   

  
	
   

  	
   

  	
  President & CEO

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  July 14,
  2008

  	
   

  	
  Telephone: (808) 969-8052

  	
   

  

 

ML MACADAMIA ORCHARDS, L.P.

SIGNS NUT PURCHASE CONTRACT ADDENDUM WITH MAUNA
LOA AND

EXECUTES NEW CREDIT AGREEMENT

 

Hilo,
Hawaii — ML Macadamia Orchards, L.P. (NYSE: NUT) announced
today that the Partnership has signed an addendum to its current nut purchase
contract with Mauna Loa Macadamia Nut Corporation (“Mauna Loa”), its primary
customer. The addendum provides that Mauna Loa will purchase between 9 million
and 12 million additional pounds of macadamia nut-in-shell (NIS) between July
21, 2008 and June 30, 2009 at a price of sixty cents ($0.60) per pound,
adjusted to 20% moisture and 30% kernel recovery.

 

The Partnership has
also signed an amended credit agreement with American Ag Credit, its primary
lender, increasing its current revolving credit facility from $4.5 million to
$6 million. The new credit agreement is for 364 days and will expire on July
10, 2009. The Partnership also has an existing Term Loan with American Ag Credit
with a balance of $800,000 outstanding as of June 30, 2008. Both the term loan
and the revolving credit facility are collateralized by the Partnership’s owned
real estate under the new credit agreement.

 

The additional
crop that will be purchased by Mauna Loa under the addendum includes 6 million
pounds of production currently under contract to Hamakua Macadamia Nut Company
(“Hamakua”) which Hamakua has refused to purchase. The Partnership has filed a
complaint against Hamakua and intends to seek damages for the difference
between the amounts which will be received from Mauna Loa and the amount which
would have been due under the Hamakua agreement.

 

The volume of nuts
being sold to Mauna Loa under the original agreement and the addendum will be
between 15.3 and 18.3 million pounds or between 73% and 87% of the
Partnership’s total production. The Partnership also has nut purchase
agreements with Mac Farms of Hawaii and Island Princess for its remaining
production.

 

 

The Partnership
has filed a Form 8-K with the SEC related to these agreements and has included
the new agreements as Exhibits to the filing.

 

This press release
contains forward-looking statements regarding future events and future performance
of the Partnership that involve risks and uncertainties that could cause actual
results to differ materially from those expressed or implied by such
statements.  These include statements,
among others, regarding the Partnership’s future nut price, which are based on
certain assumptions and forecasts.  The
Partnership files documents with the Securities and Exchange Commission, such
as Form 10-K, Form 10-Q and Form 8-K reports, which contain a description of
these and other risks and uncertainties that could cause actual results to
differ from current expectations and the forward-looking statements contained
in this press release.

 

ML Macadamia
Orchards, L.P. is the world’s largest grower of macadamia nuts, owning or
leasing 4,189 acres of orchards on the island of Hawaii. Mauna Loa, a
subsidiary of Hershey Company, is the leading processor in Hawaii and the
world’s leading marketer of macadamia nuts. 

 

# # #exhibit10_5.htm

     

    OroAndes
Resource Corp.

     

    

    TERMINATION
AGREEMENT

     

    THIS
AGREEMENT made as of July 8, 2008

     

    BETWEEN:

     

    OROANDES RESOURCE CORP.
(formerly AVALANCHE
MINERALS LTD.), a corporation incorporated under the laws of Canada,
having offices at Suite 910-510 Burrard Street, Vancouver, BC, V6C
3A8

     

    (“OroAndes”)

     

    AND:

     

    ALMADORO MINERALS CORP.
(formerly OPES
EXPLORATION INC.), a Nevada corporation having an address at 9620
Williams Road, Richmond, BC, V7A 1H2

     

    (“Almadoro”)

     

    THIS
AGREEMENT witnesses that in consideration of the premises, the sum of $10 now
paid by each of the parties to the other and the mutual covenants and agreements
hereinafter set forth, the parties agree as follows:

     

    
      	
              1.  

            	
              The
      Mining Option Agreement (the “Mining Option Agreement”) between OroAndes
      and Almadoro made as of the 27th
      day of December, 2007 with respect to certain mining claims in Ecuador is
      hereby terminated.  Neither party shall have any further rights
      or obligations under the Mining Option
  Agreement.

            

    

     

    
      	
              2.  

            	
              OreAndes
      shall forthwith refund to Almadoro the sum of $20,000 paid by Almadoro
      under the Mining Option Agreement and Almadoro agrees that no other
      amounts paid by Almadoro under or in connection with the Mining Option
      Agreement are to be refunded or repaid to
it.

            

    

     

    
      	
              3.  

            	
              This
      Agreement is the entire agreement of the parties pertaining to the subject
      matter hereof.

            

    

     

    
      	
              4.  

            	
              This
      Agreement shall be governed by and interpreted in accordance with the laws
      of the Province of British Columbia and the federal laws of Canada
      applicable therein.

            

    

    

    

    Suite
910- 510 Burrard Street, Vancouver B.C. V6C 3A8

    Phone#
604-662-8186 Fax# 604-662-8170 Email: itranstech@yahoo.com

     

     

    
      
         

      

      
        Page
- 1

        
          

        

      

      
         

      

    

     

     

    THE PARTIES have executed this Agreement as of the date first
above written.

     

     

     

    OROANDES
RESOURCE
CORP.                                                                                                ALMADORO
MINERALS CORP.

    

    By:           /s/
Authorized
Signatory                                                                           By:           /s/
Authorized Signatory

     

    

     

    Authorized
Signatory                                                                                                Authorized
Signatory

    

    

    

    
      
         

      

      
        Page
- 2THIRD AMENDMENT TO THE CREDIT AGREEMENT

THIS THIRD AMENDMENT TO THE CREDIT AGREEMENT (this “Amendment”), dated as of July 10, 2008 among Black Hills Corporation, a South Dakota corporation (“Borrower”), ABN AMRO Bank N.V., in its capacity as agent for the Banks under the Credit Agreement described below (in such capacity, the “Administrative Agent”), and as a Bank, and the other Banks party hereto.

WITNESSETH THAT:

WHEREAS, the Borrower, Administrative Agent and the Banks have entered into that certain Credit Agreement dated as of May 5, 2005 (as the same has been amended, modified or restated prior to the effectiveness hereof, the “Credit Agreement”); and

WHEREAS, the Borrower desires to amend certain terms of the Credit Agreement, as set forth below; and

WHEREAS, the Administrative Agent and the Required Banks are willing, subject to the terms hereof, to so amend the Credit Agreement.

NOW, THEREFORE, in consideration of the recitals set forth above and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto hereby agree as follows:

Section 1.  Definitions.  All capitalized terms used but not otherwise defined in this Amendment shall have the meaning ascribed to them in the Credit Agreement.  Unless otherwise specified, all section references herein refer to sections of the Credit Agreement.

Section 2.  Amendments to Credit Agreement.  

Effective upon the satisfaction of each of the conditions precedent set forth in Section 4 below, the Credit Agreement is hereby amended as follows: 

	
             
 	
            effective as of the date hereof, the Credit Agreement is hereby amended as follows:
 

 (A)      The term “$300,000,000” appearing in the definition of “Marketing Subsidiary Excluded Credit Facilities” in Section 1.1 of the Credit Agreement is hereby deleted in its entirety and the term “$400,000,000” is hereby substituted therefor:

(B)      Section 7.9 of the Credit Agreement shall be amended by deleting the term “and” appearing at the end of Section 7.9(n), deleting the term “.” at the end of Section 7.9(o) and substituting the term “;” therefor, and inserting the following language as new Sections 7.9(p) and 7.9(q), respectively:

“(p)     Liens (i) of a collecting bank arising under the UCC on items in the course of collection, (ii) in favor of a banking institution arising as a matter of law, or which arise under the documents governing the deposit relationship, encumbering deposits (including the right of set-off, charge-back rights, and refund rights) and which are within 

the general parameters customary in the banking industry, or (iii) encumbering customary deposits and margin deposits and other Liens attaching to brokerage accounts or arising under or in connection with Derivative Arrangements or Derivative Obligations, in each case incurred in the ordinary course of business; and"

“(q)     Other Liens made in the ordinary course of business of Borrower or its Subsidiaries so long as the aggregate amount of Indebtedness or other obligations secured by such Liens does not exceed, in the aggregate, $25,000,000."

(C)      Schedule 2.1 to the Credit Agreement shall be amended by deleting the schedule in its entirety and substituting Schedule 2.1 attached hereto as EXHIBIT A therefor.

Section 3.  Ratification.  The Borrower hereby ratifies, acknowledges, affirms and reconfirms its rights, interests and obligations under each Credit Document, as amended hereby,  and agrees to perform each of its obligations thereunder as and when required.  By executing this Amendment, the Borrower hereby further ratifies, acknowledges, affirms and reconfirms that each Credit Document, as amended hereby, constitutes a legal, valid and binding obligation of the Borrower enforceable against the Borrower in accordance with its terms, and that each such Credit Document, as amended hereby, is in full force and effect.

 

Section 4.  Conditions.  The effectiveness of this Amendment is subject to the following conditions precedent:

 

Section 4.1  The Borrower, the Administrative Agent and the Required Banks shall have executed and delivered this Amendment, and the Borrower shall have executed and/or delivered such other documents and instruments as Administrative Agent may reasonably require to effectuate the terms of this Amendment.

 

Section 4.2  Borrower shall have paid to each of the Banks executing and delivering this Amendment on or prior to the date hereof, for such Bank’s own account, a fully-earned, non-refundable amendment fee in an amount equal to [__]% multiplied by such Bank’s Percentage (prior to the effectiveness hereof), in immediately available funds.

 

Section 4.3      Borrower shall have paid to each new Bank and each Bank that increases its Commitment in accordance with Section 2.12(b) of the Credit Agreement concurrently with this Amendment (such new Bank or Bank increasing its Commitment, an “Added Bank”), for such Added Bank’s own account, a fully-earned, non-refundable closing fee of (x) if the amount of such Added Bank’s new or increased Commitment is greater than or equal to $15,000,000 and less than $20,000,000, [__]% multiplied by the amount of such Added Bank’s new or increased Commitment purchased pursuant to Section 2.12(b) of the Credit Agreement, or (y) if the amount of such Added Bank’s new or increased Commitment is equal to or greater than $20,000,000, [__]% multiplied
by such Added Bank’s new or increased Commitment purchased pursuant to Section 2.12(b) of the Credit Agreement, in immediately available funds.

 

2

Section 4.4  The representations and warranties set forth in Section 5 of this Amendment shall be true and correct.

 

Section 4.5  All proceedings taken in connection with the transactions contemplated by this Amendment and all documents, instruments and other legal matters incident thereto shall be reasonably satisfactory to the Administrative Agent and its legal counsel.

 

Section 5.  Representations and Warranties.    To induce the Administrative Agent and the Banks party hereto to enter into this Amendment, the Borrower represents and warrants to the Administrative Agent and the Banks that (i) the execution, delivery and performance of this Amendment has been duly authorized by all requisite corporate action on the part of the Borrower and that this Amendment has been duly executed and delivered by the Borrower and this Amendment and the Credit Agreement, as amended hereby, constitutes valid and binding obligations of the Borrower enforceable in accordance with its terms, (ii) no Default or Event of Default (after giving effect to this Amendment) has occurred and is continuing under the Credit Agreement or would result from the execution and delivery of this Amendment, and (iii) each of
the representations and warranties set forth in Section 5 of the Credit Agreement, as amended hereby, is true and correct in all material respects as of the date hereof, except that if any such representation or warranty (x) relates solely to an earlier date it need only remain true in all material respects as of such date, or (y) is already qualified by materiality, in which case it shall be true and correct in all respects.

 

Section 6.  Severability.   Any provision of this Amendment held by a court of competent jurisdiction to be invalid or unenforceable shall not impair or invalidate the remainder of this Amendment and the effect thereof shall be confined to the provision so held to be invalid or unenforceable. 

 

Section 7.  References.  Any reference to the Credit Agreement contained in any document, instrument or agreement executed in connection with the Credit Agreement shall be deemed to be a reference to the Credit Agreement as modified by this Amendment.  

 

Section 8.  Counterparts.  This Amendment may be executed in one or more counterparts, each of which shall constitute an original, but all of which taken together shall be one and the same instrument.  This Amendment may also be executed by facsimile or electronic means and each facsimile or electronic signature hereto shall be deemed for all purposes to be an original signatory page.

 

Section 9.  Costs.  The Borrower agrees to pay on demand all reasonable costs and expenses incurred by the Administrative Agent (including fees and expenses of counsel) incurred in connection with the negotiation and preparation of this Amendment.

 

Section  10.     Governing Law.  The validity and interpretation of this Amendment and the terms and conditions set forth herein, shall be governed by and construed in accordance with the laws of the State of New York, without giving effect to any provisions relating to conflict of laws other than section 5-1401 of the New York General Obligations Laws.

 

3

 

Section 11.      Miscellaneous.  This Amendment shall be deemed to be a Credit Document.

 

- Remainder of page left blank; signature pages follow -

 

4

In Witness Whereof, the parties hereto have caused this Amendment to be duly executed and delivered in New York, New York by their duly authorized officers as of the day and year first above written.

 

BLACK HILLS CORPORATION, a South Dakota corporation

 

	
             
 	
            By:
 	
            /s/ David R. Emery
 

	
             
 	
            Name:
 	
            David R. Emery
 

	
             
 	
            Title:
 	
            President and CEO
 

 

In Witness Whereof, the parties hereto have caused this Amendment to be duly executed and delivered in New York, New York by their duly authorized officers as of the day and year first above written.

 

ABN AMRO Bank N.V.

 

	
             
 	
            By:
 	
            /s/ Charles F. Randolph
 

	
             
 	
            Name:
 	
            Charles F. Randolph
 

	
             
 	
            Title:
 	
            Managing Director
 

 

	
             
 	
            By:
 	
            /s/ Kris A. Grosshans
 

	
             
 	
            Name:
 	
            Kris A. Grosshans
 

	
             
 	
            Title:
 	
            Managing Director
 

 

 

Wells Fargo Bank N.A.

 

	
             
 	
            By:
 	
            /s/ Sushim R. Shah
 

	
             
 	
            Name:
 	
            Sushim R. Shah
 

	
             
 	
            Title:
 	
            VP & Senior Relationship Manager
 

 

 

Credit Suisse, Cayman Islands Branch

 

	
             
 	
            By:
 	
            /s/ James Moran
 

	
             
 	
            Name:
 	
            James Moran
 

	
             
 	
            Title:
 	
            Managing Director
 

 

	
             
 	
            By:
 	
            /s/ Nupur Kumar
 

	
             
 	
            Name:
 	
            Nupur Kumar
 

	
             
 	
            Title:
 	
            Associate
 

 

 

Royal Bank Canada,

 

	
             
 	
            By:
 	
            /s/ Linda M. Stephens
 

	
             
 	
            Name:
 	
            Linda M. Stephens
 

	
             
 	
            Title:
 	
            Authorized Signatory
 

 

 

UNION BANK OF CALIFORNIA, N.A.

 

	
             
 	
            By:
 	
            /s/ Robert J. Cole
 

	
             
 	
            Name:
 	
            Robert J. Cole
 

Title:   Vice President

In Witness Whereof, the parties hereto have caused this Amendment to be duly executed and delivered in New York, New York by their duly authorized officers as of the day and year first above written.

BAYERISCHE LANDESBANK

 

	
             
 	
            By:
 	
            /s/ John Gregory
 

	
             
 	
            Name:
 	
            John Gregory
 

	
             
 	
            Title:
 	
            First Vice President
 

 

	
             
 	
            By:
 	
            /s/ Nikolal von Mengden
 

	
             
 	
            Name:
 	
            Nikolal von Mengden
 

	
             
 	
            Title:
 	
            Senior Vice President
 

 

 

BMO Capital Markets Financing, Inc.

 

	
             
 	
            By:
 	
            /s/ Gumaro Tijerina
 

	
             
 	
            Name:
 	
            Gumaro Tijerina
 

	
             
 	
            Title:
 	
            Vice President
 

 

 

Societe Generale

 

	
             
 	
            By:
 	
            /s/ Yao Wang
 

	
             
 	
            Name:
 	
            Yao Wang
 

	
             
 	
            Title:
 	
            Vice President
 

 

 

U.S. Bank National Association

 

	
             
 	
            By:
 	
            /s/ Christine Dean
 

	
             
 	
            Name:
 	
            Christine Dean
 

	
             
 	
            Title:
 	
            Vice President
 

 

 

COBANK, ACB

 

	
             
 	
            By:
 	
            /s/ Brent R. Knight
 

	
             
 	
            Name:
 	
            Brent R. Knight
 

	
             
 	
            Title:
 	
            Vice President
 

 

 

In Witness Whereof, the parties hereto have caused this Amendment to be duly executed and delivered in New York, New York by their duly authorized officers as of the day and year first above written.

Fifth Third Bank

 

	
             
 	
            By:
 	
            /s/ Ashley Radel
 

	
             
 	
            Name:
 	
            Ashley Radel
 

	
             
 	
            Title:
 	
            Officer
 

 

Mizuho Corporate Bank, Ltd.

 

	
             
 	
            By:
 	
            /s/ Leon Mo
 

	
             
 	
            Name:
 	
            Leon Mo
 

	
             
 	
            Title:
 	
            Senior Vice President
 

 

CALYON NEW YORK BRANCH

 

	
             
 	
            By:
 	
            /s/ Page Dillehunt
 

	
             
 	
            Name:
 	
            Page Dillehunt
 

	
             
 	
            Title:
 	
            Managing director
 

 

	
             
 	
            By:
 	
            /s/ Sharada Manne
 

	
             
 	
            Name:
 	
            Sharada Manne
 

	
             
 	
            Title:
 	
            Director
 

 

The Bank of Nova Scotia

 

	
             
 	
            By:
 	
            /s/ Jim Trimble
 

	
             
 	
            Name:
 	
            Jim Trimble
 

	
             
 	
            Title:
 	
            Managing Director
 

 

ROYAL BANK OF SCOTLAND PLC

 

	
             
 	
            By:
 	
            /s/ Andrew N. Taylor
 

	
             
 	
            Name:
 	
            Andrew N. Taylor
 

	
             
 	
            Title:
 	
            Vice President
 

 

Scotiabanc Inc.

 

	
             
 	
            By:
 	
            /s/ J.F. Todd
 

	
             
 	
            Name:
 	
            J.F. Todd
 

	
             
 	
            Title:
 	
            Managing Director
 

 

EXHIBIT A

 

Schedule 2.1

 

COMMITMENTS

 

	
            Bank

 
 	
            Commitment Amount

 
 	
            Pro Rata Share

 
 
	
            ABN AMRO Bank N.V.

 
 	
            $47,000,000.00 
 	
            8.95238095%
 
	
            Union Bank of California, N.A.

 
 	
            $52,000,000.00 
 	
            9.90476190%
 
	
            U.S. Bank National Association

 
 	
            $32,000,000.00 
 	
            6.09523810%
 
	
            Bank of America, N.A.

 
 	
            $30,000,000.00 
 	
            5.71428571%
 
	
            CoBank, ACB

 
 	
            $62,000,000.00 
 	
            11.80952381%
 
	
            BMO/Harris Nesbitt Financing, Inc.

 
 	
            $30,000,000.00 
 	
            5.71428571%
 
	
            The Bank of Nova Scotia

 
 	
            $70,000,000.00 
 	
            13.33333333%
 
	
            Wells Fargo Bank, N.A.

 
 	
            $55,000,000.00 
 	
            10.47619048%
 
	
            Credit Suisse
 	
            $25,000,000.00

 
 	
            4.76190476%
 
	
            Bayern LB

 
 	
            $24,000,000.00 
 	
            4.57142857%
 
	
            Societe Generale

 
 	
            $24,000,000.00 
 	
            4.57142857%
 
	
            Calyon, New York Branch

 
 	
            $18,000,000.00 
 	
            3.42857143%
 
	
            Fifth Third Bank

 
 	
            $14,000,000.00 
 	
            2.66666667%
 
	
            Mizuho Corporate Bank, Ltd.

 
 	
            $14,000,000.00 
 	
            2.66666667%
 
	
            Royal Bank of Canada

 
 	
            $14,000,000.00 
 	
            2.66666667%
 
	
            Royal Bank of Scotland

 
 	
            $14,000,000.00 
 	
            2.66666667%
 
	
            TOTALS

 
 	
            $525,000,000.00

 
 	
            100.00000000%

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