Document:

Document

Exhibit 10.12F

SIXTH AMENDMENT TO AMENDED AND RESTATED
LOAN ORIGINATION AND PARTICIPATION AGREEMENT

THIS SIXTH AMENDMENT TO AMENDED AND RESTATED LOAN ORIGINATION AND PARTICIPATION AGREEMENT (“Sixth Amendment”) is made and entered into as of this 29th day of September, 2021, by and between Compeer Financial, PCA (f/k/a AgStar Financial Services, PCA), d/b/a ProPartners Financial (“ProPartners”), and CHS Capital, LLC, formerly known as Cofina Financial, LLC (“CHS”).

RECITALS

FIRST: ProPartners and CHS are parties to an Amended and Restated Loan Origination and Participation Agreement dated September 1, 2011, as amended by a First Amendment to Amended and Restated Loan Origination and Participation Agreement dated September 27, 2012, a Second Amendment to Amended and Restated Loan Origination and Participation Agreement dated March 22, 2016, a Third Amendment to Amended and Restated Loan Origination and Participation Agreement dated May 20, 2016, a Fourth Amendment to Amended and Restated Loan Origination and Participation Agreement dated April 7, 2017 and a Fifth Amendment to Amended and Restated Loan Origination and Participation Agreement dated March 7, 2019 (collectively, the “Agreement”), which governs the terms under which ProPartners will purchase up to a 100% participation interest in certain loans originated by CHS.

SECOND: The parties hereto have agreed to amend the Agreement in accordance with the terms and conditions of this Sixth Amendment.

NOW THEREFORE, in consideration of the foregoing recitals, the agreements set forth herein and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, ProPartners and CHS hereby agree as follows:

1.Amendment to the Agreement.

a.Section 2.01 of the Agreement is hereby deleted in its entirety and replaced with the following:

2.01 CHS shall originate and make the Loans to Borrowers in accordance with the Loan Underwriting Criteria, the proceeds of which will be used to finance the Borrowers’ agricultural production or processing activities. ProPartners shall then purchase up to a 100% participation interest, or in the case of Cooperative/Commercial Loans, such portion of such Cooperative/Commercial Loan offered to ProPartners, from CHS (a “Participation Interest”) in each Loan (each, a “Participated Loan” and collectively, the “Participated Loans”), in an aggregate principal amount totaling up to $100,000,000 in accordance with the terms of this Agreement. Subject to the limitations set forth in this Agreement, during any period when the outstanding aggregate principal balance of the existing Participated Loans that are classified as “Tier Rating C” or “Tier Rating D” pursuant to CHS’ 2014 “Producer Credit & Collection Policies” is less than 37.7% of the outstanding aggregate commitment balance of all existing Participated Loans, ProPartners hereby grants CHS delegated authority to approve all Loans with a Commitment amount that is less than or equal to $1,000,000 and to administer ProPartners’ purchase of a Participation Interest in such Loans (“Delegated Authority Loans”). Each offer to purchase a Participation Interest (for purchase on the next Purchase Date) of Loans that are not Delegated Authority Loans shall be extended to ProPartners by delivery to ProPartners of a true and correct Loan Package with respect to such Loan and ProPartners may, in its sole discretion, purchase a Participation Interest in such Loans under the terms of this Agreement. With respect to all Loans that ProPartners is purchasing a Participation Interest and all Loans where ProPartners is being offered a Participation Interest, CHS shall deliver to ProPartners a true and correct list with respect to each such Loan setting forth the Commitment to the Borrower thereunder and the amount of any advances CHS has or will have made under each such Loan as of such Purchase Date, in each case with adequate supporting documentation of the amount of such advances.

b.Section 6.01 of the Agreement is hereby deleted in its entirety and replaced with the following:

6.01 ProPartners shall be entitled to receive interest on the outstanding principal amount of all Participated Loans at a variable interest rate equal to ProPartners’ cost of funds (as communicated by ProPartners to CHS on a monthly basis) plus 1%, payable by CHS to ProPartners on each Interest Payment Date as provided in Section 2.07. In addition, CHS shall pay to ProPartners a commitment fee equal to 30 basis points of the difference between $100,000,000 minus the average daily aggregate loan balance outstanding of the Participated Loans for the then ending calendar quarter, which fee shall be payable on a quarterly basis on each Interest Payment Date. Any Participated Loan that is a fixed-rate loan shall bear interest at such fixed rate of interest as agreed by the parties on a case by case basis. CHS may, in its sole discretion, charge interest rates under the Participated Loans that are greater or lesser than the interest rate payable to ProPartners. If CHS charges interest rates that are higher than the interest rate payable to ProPartners, CHS may retain the excess over the interest rate payable to ProPartners from payments made to ProPartners. If CHS charges a lesser rate of interest, CHS will be responsible for paying to ProPartners the difference between the interest rate charged in the Loan Documents and the interest rate described in the first sentence of this Section.

c.Section 7.01 of the Agreement is hereby deleted in its entirety and replaced with the following:

7.01 CHS hereby absolutely and unconditionally guarantees full payment of all Participated Loans; provided, however, that for each calendar year, CHS’ guarantee under this Section 7.01 shall be limited to $35,000,000 (the “Guarantee”); provided, however, that if the aggregate amount of Guarantee payments made by CHS during any calendar year exceeds $33,000,000, then ProPartners and CHS shall mutually agree in writing which Participated Loans are repaid pursuant to any remaining Guarantee payments made by CHS for such calendar year.

d.ProPartners’ address in Section 17.03 of the Agreement is hereby deleted in its entirety and replaced with the following:

ProPartners Financial
445 Minnesota Street, Suite 1700
Town Square Tower
St. Paul, MN 55101
Attention: Tom Levasseur

2.No Other Amendments. Except as expressly amended hereby, the Agreement shall remain unmodified and in full force and effect.

3.Miscellaneous.

a.All references in the Agreement to the term “this Agreement” shall hereafter be deemed to refer to the Agreement as amended by this Sixth Amendment and as may be further amended, modified, restated or replaced pursuant to a written agreement signed by the parties hereto.

b.This Sixth Amendment may be executed in any number of counterparts with the same effect as if all parties hereto had signed the same document. All such counterparts shall be construed together and shall constitute one instrument, but in making proof hereof it shall only be necessary to produce one such counterpart.

[signature page follows]

2

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

COMPEER FINANCIAL, PCA, D/B/A     PROPARTNERS FINANCIAL

By:_______________________________

Its:_______________________________

CHS CAPITAL, LLC

By:_______________________________

Its:_______________________________

3Document

Exhibit 10.22H

EXECUTION COPY

OMNIBUS AMENDMENT NO. 9

This OMNIBUS AMENDMENT NO. 9, dated as of July 30, 2021 (this “Amendment”), is entered into by and among COFINA FUNDING, LLC, a Delaware limited liability company, as seller (the “Seller”), CHS INC. (“CHS”), a Minnesota corporation, as Servicer (in such capacity, the “Servicer”) and as an Originator, CHS CAPITAL, LLC, as an Originator (“CHS Capital” and together with CHS, the “Originators”), each of the CONDUIT PURCHASERS, COMMITTED PURCHASERS and PURCHASER AGENTS set forth on the signature pages hereto, and MUFG BANK, LTD. F/K/A THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., NEW YORK BRANCH (“MUFG”), as administrative agent (in such capacity, the “Administrative Agent”) and is (i) the ninth amendment to the RPA (as defined below) and (ii) the eighth amendment to the Sale Agreement (as defined below).

RECITALS

A.WHEREAS, the Seller, the Servicer, CHS, the Purchasers, the Purchaser Agents and the Administrative Agent have entered into that certain Amended and Restated Receivables Purchase Agreement, dated as of July 18, 2017 (as amended by that certain First Amendment to Amended and Restated Receivables Purchase Agreement dated as of June 28, 2018, as amended by that certain Second Amendment to Amended and Restated Receivables Purchase Agreement dated as of August 20, 2018, as amended by that certain Omnibus Amendment No. 3, dated as of September 4, 2018, as amended by that certain Fourth Amendment and Limited Waiver to Amended and Restated Receivables Purchase Agreement, dated as of September 21, 2018, as amended by that certain Omnibus Amendment No. 5, dated as of June 27, 2019, as amended by that certain Omnibus Amendment No. 6, dated as of May 1, 2020, as amended by that certain Omnibus Amendment No. 7, dated as of June 26, 2020, as amended by that certain Omnibus Amendment No. 8, dated as of September 24, 2020, and as further amended, restated, supplemented or otherwise modified through the date hereof, the “RPA”); and

B.WHEREAS, pursuant to and in accordance with Section 13.1 of the RPA, the Seller, the Servicer, the Purchasers, the Purchaser Agents and the Administrative Agent desire to amend the RPA as provided herein; 

C.WHEREAS, the Originators and the Seller have entered into that certain Sale and Contribution Agreement, dated as of July 22, 2016 (as amended by that certain Omnibus Amendment No. 1, dated as of February 14, 2017, as amended by that certain Omnibus Amendment No. 2, dated as of July 18, 2017, as amended by that certain Omnibus Amendment No. 3, dated as of September 4, 2018, as amended by that certain Omnibus Amendment No. 5, dated as of  June 27, 2019, as amended by that certain Omnibus Amendment No. 6, dated as of  May 1, 2020,  as amended by that certain Omnibus Amendment No. 7, dated as of  June 26, 2020, as amended by that certain Omnibus Amendment No. 8, dated as of September 24, 2020, and as further amended, restated, supplemented or otherwise modified through the date hereof, the “Sale Agreement” and, together with the RPA, the “Agreements”); and

D.WHEREAS, pursuant to and in accordance with Section 8.1 of the Sale Agreement, the Originators, the Seller, the Administrative Agent and the Purchasers desire to amend the Sale Agreement as provided herein.

NOW, THEREFORE, based upon the above Recitals, the mutual premises and agreements contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the undersigned, intending to be legally bound, hereby agree as follows:

SECTION 1. Definitions and Interpretation.  Each capitalized term used but not defined herein has the meaning ascribed thereto in Appendix A to the RPA.  The rules of interpretation set forth in Appendix A to the RPA are hereby incorporated, mutatis mutandis, as if fully set forth herein.

SECTION 2. Amendments to the RPA.  The Seller, the Servicer, the Purchasers, the Purchaser Agents and the Administrative Agent hereby agree that the RPA is amended effective as of the date hereof as follows:

a.Sections 7.1(aa)(ii) and (iii) and Sections 7.2(q)(ii) and (iii) of the RPA are hereby amended by replacing the date “July 30, 2021” where it appears therein with the date “August 31, 2021” in its place.
b.Clause (ee)(ii) of the definition of “Eligible Loan” in Appendix A to the RPA is hereby amended by replacing the date “July 30, 2021” where it appears therein with the date “August 31, 2021” in its place.
c.Clause (ee)(iii) of the definition of “Eligible Loan” in Appendix A to the RPA is hereby amended by replacing the date “September 24, 2020” where it appears therein with the date “August 31, 2021” in its place.
d.The definition of “Purchase Termination Date” in Appendix A to the RPA is hereby amended by replacing the date “July 30, 2021” where it appears therein with the date “August 31, 2021” in its place.

SECTION 3. Amendments to the Sale Agreement.  The Originators, the Seller, the Administrative Agent and the Purchasers hereby agree that, effective as of the date hereof, Sections 2.5 and 5.1(s)(ii) and (iii) of the Sale Agreement are hereby amended by replacing the date “July 30, 2021” where it appears therein with date “August 31, 2021” in its place.

SECTION 4. Agreements in Full Force and Effect as Amended. Except as specifically amended hereby, all provisions of the Agreements shall remain in full force and effect.  This Amendment shall not be deemed to expressly or impliedly waive, amend or supplement any provision of the Agreements other than as expressly set forth herein and shall not constitute a novation of the Agreements. 

SECTION 5. Representations and Warranties.  Each of the Seller, the Servicer and the Originators  hereby represent and warrant to the Administrative Agent and the Purchasers, as of the date of this Amendment, as follows:

a.this Amendment has been duly executed and delivered by it;

b.this Amendment constitutes its legal, valid and binding obligation, enforceable against it in accordance with its terms, except as limited by bankruptcy, insolvency, moratorium, fraudulent conveyance or other laws relating to the enforcement of creditors’ rights generally and general principles of equity (regardless of whether enforcement is sought at equity or law); 

c.no authorization or approval or other action by, and no notice to, license from or filing with, any Governmental Authority is required for the due execution, delivery and performance of this Amendment; 

d.the execution, delivery and performance by it of this Amendment (i) is within its limited liability company or corporate powers, (ii) has been duly authorized by all necessary limited liability company or corporate action, and (iii) does not contravene, violate or breach (1) its organizational documents or (2) any Applicable Law; and

e.immediately after giving effect to this Amendment, (i) each of the representations and warranties of the Seller, the Servicer and the Originators, as applicable, set forth in the RPA (in the case of the Seller and the Servicer) and in the Sale Agreement (in the case of the Seller and the Originators), in each case as modified hereby, that are qualified as to materiality are true and correct, and each not so qualified are true and correct in all material respects (except to the extent such representations and warranties explicitly refer solely to an earlier date or period, in which case they shall be true and correct as of such earlier date or period), and (ii) no Event of Termination, Unmatured Event of Termination, Servicer Termination Event or Unmatured Servicer Termination Event has occurred and is continuing. 

SECTION 6. Conditions to Effectiveness.  This Amendment shall become effective as of the date hereof (the “Effective Date”) upon receipt by the Administrative Agent of executed counterparts of this Amendment; duly executed and delivered by each party hereto.

SECTION 7. Ratification of Performance Guaranty. After giving effect to this Amendment and the transactions contemplated hereby, all of the provisions of the Performance Guaranty shall remain in full force and effect and the Performance Guarantor hereby ratifies and affirms the Performance Guaranty and acknowledges that the Performance Guaranty has continued and shall continue in full force and effect in accordance with its terms.

SECTION 8. Miscellaneous.

a.This Amendment may be executed in any number of counterparts and by the different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which when taken together shall constitute one and the same agreement.  Delivery of an executed counterpart hereof by facsimile, by electronic mail attachment in portable document format (.pdf) or any other electronic means that reproduces an image of the actual executed signature page shall be effective as delivery of an originally executed counterpart. The words “execution”, “signed”, “signature”, and words of like import in this Amendment shall be deemed to include an electronic sound, symbol, or process attached to, or associated with, a contract or other record and adopted by a Person with the intent to sign, authenticate or accept such contract or record, or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic 

Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act.

b.Any provisions of this Amendment which are prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, 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.

c.THIS AMENDMENT, INCLUDING THE RIGHTS AND DUTIES OF THE PARTIES HERETO, SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK (INCLUDING SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK, BUT WITHOUT REGARD TO ANY OTHER CONFLICTS OF LAW PROVISIONS THEREOF), EXCEPT TO THE EXTENT THAT THE PERFECTION, THE EFFECT OF PERFECTION OR PRIORITY OF THE INTERESTS OF THE ADMINISTRATIVE AGENT OR ANY PURCHASER IN THE POOL ASSETS OR RELATED ASSETS IS GOVERNED BY THE LAWS OF A JURISDICTION OTHER THAN THE STATE OF NEW YORK.

d.Headings are for purposes of reference only and shall not otherwise affect the meaning or interpretation of any provision hereof.

e.Section 13.7 of the RPA is hereby incorporated, mutatis mutandis, as if fully set forth herein. 

f.This Amendment is a Transaction Document and all references to a “Transaction Document” in the Agreements and the other Transaction Documents (including, without limitation, all such references in the representations and warranties in the Agreements and the other Transaction Documents) shall be deemed to include this Amendment.

g.Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of or relating to this Amendment or the transactions contemplated hereby.

[THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]

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

COFINA FUNDING, LLC, as Seller                   By:________________________________ Name:   Title:  

          CHS INC., as Servicer, an Originator and     Performance Guarantor  

 By:________________________________ 
Name:   
Title:  

CHS CAPITAL, LLC, as an Originator   

By:________________________________ 
Name:   
Title:  
742504055 16509877

         MUFG BANK, LTD. F/K/A THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., NEW YORK BRANCH, as Administrative Agent and as Purchaser Agent and Committed Purchaser for the MUFG Purchaser Group

By:________________________________ 
Name:   
Title:  

          VICTORY RECEIVABLES CORPORATION, as Conduit Purchaser for the MUFG Purchaser Group

By:________________________________ 
Name:   
Title:  
742504055 16509877

          Coöperatieve Rabobank U.A., NEW YORK BRANCH, as Purchaser Agent for the Rabobank Purchaser Group  

By:                                                              
Name: 
Title:

By:                                                              
Name: 
Title:

          COÖPERATIEVE RABOBANK U.A., as Committed Purchaser for the Rabobank Purchaser Group  

By:                                                              
Name: 
Title:

By:                                                              
Name: 
Title:

          NIEUW AMSTERDAM RECEIVABLES CORPORATION B.V., as Conduit Purchaser for the Rabobank Purchaser Group  

By:                                                              
Name: 
Title:

By:                                                              
Name: 
Title:
742504055 16509877

          PNC BANK, NATIONAL ASSOCIATION, as Purchaser Agent and Committed Purchaser for the PNC Purchaser Group  

By:                                                              
Name: 
Title:
742504055 16509877

          SANTANDER BANK, NATIONAL ASSOCIATION, as Purchaser Agent and Committed Purchaser for the Santander Purchaser Group  

By:                                                              
Name: 
Title:
742504055 16509877

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00335-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00335-of-00352.parquet"}]]