Document:

Exhibit
10.21

INVESTMENT
TERMS AGREEMENT

This INVESTMENT TERMS
AGREEMENT (the “Agreement”) is entered into as of the 9th day of
October, 2006, among Bioverda Limited, a company organized under the laws of
Ireland (“Bioverda”), Virgin Group Holdings Limited, a company organized
under the laws of the British Virgin Islands (“Virgin”), and Ethanol
Grain Processors, LLC, a limited liability company formed under the laws of
State of Tennessee (the “Company”, and together with Bioverda and
Virgin, the “Parties”, and each a “Party”).

WHEREAS, the Company intends
to build and operate a natural gas-fired one hundred million gallon per year
ethanol production facility near Obion, Tennessee;

WHEREAS, the Company has
filed a registration statement on Form SB-2 (SEC File No. 333-130815) with the
SEC, as amended, to offer and sell up to thirty-one million one hundred
seventy-five thousand (31,175,000) capital units of the Company (the “Units”)
at the price of two Dollars ($2.00) per unit (the “Offering”), which
registration statement was declared effective on June 15, 2006 (the “Registration
Statement”);

WHEREAS, Bioverda and Virgin
desire that VBV LLC, a Delaware limited liability company (which entity is
presently owned by an affiliate of Virgin and may, at the time it subscribes
for and is issued Units pursuant to the terms of this Agreement, be controlled
and majority-owned jointly by Virgin (or an affiliate thereof) and Bioverda (or
an affiliate thereof)) (the “Investor”) subscribe for, and purchase, a
minimum of twenty million two thousand five hundred (20,002,500) Units pursuant
to the Offering, for a minimum aggregate subscription price of forty million
five thousand Dollars ($40,005,000), subject to the terms and conditions set
forth herein; and

WHEREAS, the Company is
willing to accept the subscription and purchase of Units from the Investor
subject to the terms and conditions set forth herein;

NOW THEREFORE, in
consideration of the premises and other good and valuable consideration,
receipt of which is hereby acknowledged, the Parties, intending to be legally
bound, do agree as follows:

AGREEMENT

Section 1.               Defined
Terms.  Capitalized terms used in
this Agreement, and not otherwise defined in this Agreement, shall have the
following meaning:

“Business Day” means
shall mean any day except (a) Saturday and Sunday and (b) those days which are
public holidays in the State of New York, the State of Tennessee, the British
Virgin Islands, England or the Republic of Ireland.

“Dollar” and the sign
“$” mean the lawful money of the United States of America.

“Escrow Agent” means Regions Bank, an Alabama banking corporation.

 

 

“Investor Units”
means the Units which may be purchased by the Investor pursuant to this
Agreement.

“Offering Escrow”
means the escrow account established pursuant to the Offering Escrow Agreement.

“Offering Escrow
Agreement” means the Escrow Agreement dated as of April 20, 2006 between
the Company and the Escrow Agent.

“Operating Agreement”
means the Operating Agreement of the Company, dated as of October 28, 2004, as
amended.

“Separate Escrow
Agreement” means that certain Escrow Agreement, dated as of the date hereof
among the Investor, the Company and the Escrow Agent.

Section 2.               Escrow
of Funds.

(a)           Within one (1) Business Day following the date hereof,
Virgin shall deposit, on behalf of the Investor, or shall cause the Investor to
deposit into a separate escrow account (the “Separate Escrow”) to be
maintained with the Escrow Agent the sum of four million five hundred Dollars
($4,000,500).  The funds deposited into
the Separate Escrow shall be set aside and be used solely for the purposes
described in this Agreement and in the Separate Escrow Agreement.

(b)           Subject to satisfaction of the conditions set forth in
Section 2(d) and upon the delivery of the subscription agreement described in
Section 4(a), the funds held in the Separate Escrow shall be transferred on
behalf of the Investor into the Offering Escrow.

(c)           In the event that the conditions set forth in Section 2(d)
are not satisfied within ninety (90) days of the date hereof, this Agreement
may be terminated at any time thereafter by any Party, by written notice to the
other Parties; provided, that such terminating Party is not in breach of
any of its covenants hereunder; provided  further  however,
that, if the Company is working diligently and in good faith to resolve any
SEC-related issues in connection with the Post-Effective Amendment, no Party
may terminate this Agreement by reason of the condition set out in Section
2(d)(i) not having been satisfied within such 90-day period.  Upon any such termination, the funds held in
the Separate Escrow shall not be transferred into the Offering Escrow but shall
be returned to the Investor (plus any accrued interest less any escrow fees),
pursuant to the Separate Escrow Agreement, and thereafter no Party shall have
any further obligations hereunder, except to the extent of any liability for
any breach occurring prior to such termination.

(d)           The
transfer of the funds from the Separate Escrow into the Offering Escrow shall
be subject to the satisfaction of the following conditions: (i) the
Post-Effective Amendment described in Section 3(a) shall have been declared
effective by the SEC; and (ii) the Amended and Restated Operating Agreement in
the form set forth in Exhibit A hereto shall have been approved by such
members of the Company as constitute at least seventy-five percent (75%) of the
members by number and hold at least seventy-five percent (75%) of the issued
and outstanding Units in the Company according to the procedures required for
such amendments

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under the Operating Agreement, and the
Investor shall have received evidence of such approval from the Company.

Section 3.               Undertakings
by the Parties.  The Parties hereby
agree as follows:

(a)           Promptly following the date hereof, the Company will
prepare and file a post-effective amendment to the Registration Statement
(together with any subsequent post-effective amendments filed prior to a
declaration of effectiveness by the SEC, the “Post-Effective Amendment”)
in order (i) to make appropriate disclosure regarding Bioverda, Virgin, the
Investor, this Agreement, the intended subscription, the amendments to the
Operating Agreement and the other matters described herein and (ii) to
establish a process pursuant to which prior subscribers in the Offering confirm
their subscriptions (the “Confirmation Process”), in each case as shall
be reasonably acceptable to Bioverda and Virgin.

(b)           The information about Bioverda, Virgin and the Investor
set forth on Exhibit B attached hereto shall be used to prepare the
Post-Effective Amendment.  Bioverda and
Virgin will use commercially reasonable efforts to assist the Company in the
preparation of the Post-Effective Amendment, including without limitation,
promptly providing necessary information with respect to Bioverda, Virgin, any
of their affiliates or the Investor in addition to that set forth on Exhibit
B; provided  that neither Bioverda, Virgin nor the Investor
shall be required to provide any information, and EGP shall not include any
information, with respect to Bioverda, Virgin, any of their affiliates or the
Investor other than information of the same type and substance as that
contained in the Registration Statement with respect to Ethanol Capital
Management, LLC, except (i) to the extent that any such further information is
specifically requested to be disclosed by the SEC or any other applicable
securities regulatory body or (ii) to the extent reasonably determined by the
Company to be necessary under applicable securities laws, rules and regulations
to update or supplement the information provided by Bioverda, Virgin or the
Investor (and for which a description of such reasoned determination shall be
included with the written request for such information made by the Company); provided
further  that the Company represents and warrants to Bioverda,
Virgin and the Investor that it has no present intention to include any such
updates or supplements in the Registration Statement.  Notwithstanding the foregoing, the Company
shall include in the Post-Effective Amendment such additional information
regarding Bioverda, Virgin and the Investor as may be requested by any of them
to be necessary under applicable securities laws, rules and regulations to
update the information previously provided by them; provided  that
the Company shall be permitted to exclude any such additional information to
the extent such exclusion is reasonably determined by the Company to be
necessary under applicable securities laws, rules and regulations; provided
further  that to the extent the Company fails to include any such
additional information based upon such determination, the statements described
in Section 6(c) hereof shall thereafter not be deemed to include any
information otherwise described in Section 6(c) to the extent updated by such
additional information.

(c)           The
Company shall establish a Confirmation Process pursuant to which prior
subscribers in the Offering confirm their subscriptions.  The Confirmation Process shall be described
in reasonable detail in the Post-Effective Amendment and upon the Post-Effective
Amendment being declared effective by the SEC and the receipt of the
subscription agreement described in Section 4(a), the Company shall conduct the
Confirmation Process in

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accordance with the terms
of the Post-Effective Amendment, using the prospectus contained therein.

(d)           From the date hereof until the time at which the funds
shall have been released to the Company from the Offering Escrow, the Company
shall not directly or indirectly (i) amend the Lump Sum Design-Build Agreement
dated effective August 25, 2006 with Fagen, Inc., or any incidental agreement
related thereto, (ii) enter into any agreement to incur any debt financing
other than as contemplated by that certain Summary of Proposed Terms from
CoBank dated August 3, 2006, (iii) issue any securities other than those
contemplated by the Offering, (iv) enter into any employment or compensation
agreement with James K. Patterson, (v) amend the existing consulting agreement
with James K. Patterson and/or The Patterson Group, LLC, (vi) enter into any
letter of intent, commitment letter or summary of terms related to any of the
matters restricted under (i), (ii), (iii), (iv) or (v), (vii) amend its
Operating Agreement except in the case of the Amended and Restated Operating
Agreement, or (viii) agree to do any of the foregoing, in each case unless such
action is acceptable to Bioverda and Virgin as evidenced by prior written
confirmation from such Parties to the Company.

(e)           Within ten (10) Business Days following the date hereof,
Bioverda and Virgin each shall have received a letter signed by each of the
Governors on the Company’s Board of Governors evidencing their collective
undertaking that upon the breaking of the Offering Escrow, local investors
residing in Tennessee or western Kentucky will own or have an option to
purchase at least ten million (10,000,000) Units on a fully-diluted basis (may
include up to 2,738,308 units issuable pursuant to outstanding vested and
unvested options and 575,000 units issuable to Obion Grain Co. pursuant to the
Company’s site purchase option contract).

(f)            Within ten (10) Business Days following the date hereof,
the Company’s Board of Governors shall have taken action so as to (i) rescind
the Company’s current Unit Transfer Policy (and evidence of such rescission
shall have been provided to Bioverda and Virgin) and (ii) adopt and adhere to
the Sequence Guidelines for the Company as set forth on Exhibit C
hereto.

(g)           Promptly following the date hereof, the Company shall use
its best efforts to solicit the approval of one hundred percent (100%) of the
members to adopt (i) the Tennessee Revised Limited Liability Company Act as set
forth in 48-249-101 et seq. of the Tennessee Statutes as the governing law of
the Company and (ii) the terms and provisions included in the Amended and
Restated Operating Agreement.

Section 4.               Subscription
by the Investor.

(a)           Within
three (3)
Business Days following the satisfaction of the conditions referred to in
Section 2(d), Virgin and, subject to approval of its board of directors (which
has not yet been obtained), Bioverda will cause the Investor to deliver to the
Company a subscription for twenty million two thousand five hundred
(20,002,500) Units in accordance with the terms of the Offering, using the
forms of the Subscription Agreement and Promissory Note attached as Appendix C
to the Company’s Prospectus dated June 15, 2006 as the same are revised to
reflect the date of the prospectus contained in the Post-Effective Amendment
and the adoption of the Amended and Restated Operating Agreement, provided that
the representations and

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warranties of the Company contained in
Sections 5 and 7 continue to be true and correct in all material respects as of
the date of such delivery as confirmed by the Company in an officer’s
certificate delivered to the Investor. 
The Company agrees that if the Investor delivers such a subscription
agreement in accordance with this Agreement, the Company will accept such
subscription agreement, provided that the representations and warranties of
Bioverda and Virgin contained in Sections 5 and 6 continue to be true and
correct in all material respects as of the date of such delivery as confirmed
by Bioverda and Virgin in an officer’s certificate delivered to the
Company.  The funds deposited in the
Separate Escrow shall be used as payment of the ten percent (10%) deposit
required from subscribers in the Offering. 
If the Investor fails to make the subscription after satisfaction of the
conditions in Section 2(d) and the Company has not committed a breach of this Agreement
which is then continuing, then the funds deposited in the Separate Escrow
(including any accrued interest less any escrow fees) will be forfeited to the
Company as liquidated damages and following such forfeiture no Party will have
any further liability or obligation to any other Party in connection with any
matter set forth in this Agreement, and the Company will have no further
liability or obligation to the Investor in connection with any matter set forth
in this Agreement.

(b)           If, after the completion of the Confirmation Process (taking
into account the subscription described in Section 4(a) and any subscriptions
rescinded in accordance with such Confirmation Process), any Units remain
unsubscribed for in the Offering, then within five (5) Business Days following the
completion of the Confirmation Process, Virgin and, subject to approval of its
board of directors (which has not yet been obtained), Bioverda will cause the
Investor to tender to the Company an additional subscription for the number of
Units that remain unsubscribed less 20,000 in accordance with the terms
of the Offering, using the revised forms described in Section 4(a), provided
that the representations and warranties of the Company contained in Sections 5
and 7 continue to be true and correct in all material respects as of the date
of such delivery as confirmed by the Company in an officer’s certificate
delivered to the Investor.  The Company
agrees that if the Investor delivers such a subscription agreement in
accordance with this Agreement, the Company will accept such subscription
agreement, provided that the representations and warranties of Bioverda and
Virgin contained in Section 5 and 6 continue to be true and correct in all
material respects as of the date of such delivery as confirmed by Bioverda and
Virgin in an officer’s certificate delivered to the Company.

Section 5.               Mutual Representations and Warranties.  Each Party
hereto represents and warrants (as to itself only and, with respect to Bioverda
and Virgin, as to the Investor) to the other Parties, as of the date of this
Agreement and, if Units are issued to the Investor pursuant to the terms of
this Agreement, as of the date of each such issuance of Units, that:

(a)           It is duly organized, validly existing and in good
standing under the laws of its jurisdiction of establishment and (i) in the
case of the Company, that the Company has all requisite company power and
authority to own, operate and lease the properties and assets it now owns,
operates and leases, and to carry on its business as and where such properties
and assets are now owned, operated and leased and as such business is now
conducted and (ii) in the case of Bioverda and Virgin, that Bioverda and
Virgin, as applicable, has all requisite power and authority to carry on its
business as such business is now conducted insofar as the same is material to
the performance of the obligations of Bioverda or Virgin, as applicable, under
this Agreement.

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(b)           It has full power and
authority to enter into, deliver and perform its obligations under this
Agreement and has taken all necessary corporate action to authorize the
execution, delivery and performance of this Agreement and this Agreement
constitutes its legal, valid and binding obligation enforceable against it in
accordance with the terms set forth herein, except as enforcement may be
limited by bankruptcy, insolvency, reorganization, moratorium or similar laws
now or hereafter in effect affecting the enforcement of creditors’ rights
generally and by general principles of equity (regardless of whether enforcement
is sought in a proceeding in equity or at law).

(c)           Each of the execution,
delivery and performance by such Party of this Agreement does not and will not
(i) conflict with or violate any provision of any constitutional or governance
documents of such Party, (ii) constitute a violation by such Party of any law,
rule, regulation, order, writ, judgment, injunction or decree applicable to
such Party, (iii) contravene any provision, or constitute a default under, any
indenture, mortgage, contract (written or oral) or other instrument to which it
is a party or by which it is or any of its property is bound or (iv) result in
or require the creation or imposition of any lien, pledge, hypothecation or
other encumbrance upon any of its property or assets, except to the extent of
the Operating Agreement amendments.

(d)           There is no action, suit,
investigation, litigation or proceeding affecting such Party pending or
threatened which purports to affect the legality, validity or enforceability of
this Agreement.

(e)           It has (or, in the case of
the Investor, will have) sufficient financial resources to discharge its
obligations and to perform this Agreement and the transactions contemplated
hereby assuming, in the case of the Company, the closing on the Offering and its
required debt financing as described in the Offering, and there are no
liabilities, contingent liabilities, obligations or restrictions imposed on its
operations or activities which could interfere with the performance of its
obligations under this Agreement or in connection with the transactions
contemplated hereby.

Section 6.               Additional Representations and Warranties of Bioverda
and Virgin.  Bioverda and Virgin represent and warrant (as
to itself only and as to the Investor) to the Company, as of the date of this
Agreement and, if Units are issued to the Investor pursuant to the terms of
this Agreement, as of the date of each such issuance of Units, that:

(a)           Prospectus.  Bioverda and
Virgin have received and carefully reviewed the Company’s Prospectus dated June 15, 2006, its Prospectus
Supplement dated August 3, 2006, its Prospectus Supplement No. 2 dated August
17, 2006 and its Prospectus Supplement No. 3 dated September 22, 2006.

(b)           Subscription Agreement Representations and Warranties.  Bioverda and
Virgin represent and warrant to the Company as to the matters set forth in Item
6 of the form of Subscription Agreement attached as Appendix C to the Company’s
Prospectus dated June 15, 2006 (except that for purposes of this representation
and warranty references in Item 6 to the “Prospectus” shall mean the Prospectus
as amended by the Post-Effective Amendment and references to the “Operating
Agreement” shall mean the Amended and Restated Operating Agreement).

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(c)           No Material
Misstatement or Omission.  No statement contained in Exhibit B
hereto or in any other written materials or statements provided by Bioverda,
Virgin or the Investor to the Company for the purpose of inclusion in the
Post-Effective Amendment contains any untrue statement of material fact or
omits to state a material fact necessary to make such statement, in light of
the circumstances in which it is made, not misleading.

(d)           Compliance with
Securities Laws.  The Investor is a Delaware limited liability
company with its principal office in the State of New York.  The Investor is presently owned by an
affiliate of Virgin and may, at the time it subscribes for and is issued Units
pursuant to the terms of this Agreement, be controlled and majority-owned jointly
by Virgin (or an affiliate thereof) and Bioverda (or an affiliate thereof)
subject to approval of its board of directors (which has not yet been
obtained).  The Investor is permitted to
subscribe for and purchase the Investor Units under applicable Federal, state
and foreign securities laws, rules and regulations, and shall comply with all
such laws and regulations in subscribing for and purchasing the Investor Units.

Section 7.               Additional Representations and Warranties of the
Company.  The Company represents and warrants to the
other Parties, as of the date of this Agreement and, if Units are issued to the
Investor pursuant to the terms of this Agreement, as of the date of each such
issuance of Units, that:

(a)           Units.  The Investor
Units, when issued to the Investor, will be free and clear of any liens,
pledges, hypothecations and encumbrances of any kind, except (i) as may be
created in the Operating Agreement, (ii) for any restrictions on transfers or
sales of securities under applicable securities laws, rules and regulations, or
(iii) to the extent created by or arising from action of Bioverda, Virgin,
their affiliates or the Investor.  The
Investor Units are not subject to any option, warrant, purchase right,
preemptive right or other contract or commitment in favor of any person (other
than in favor of the Investor as provided herein) that would require the
Company to issue or transfer all or any of the Units to any other person,
except as may be created in the Operating Agreement.  The Investor Units are not subject to any
voting trust, proxy or other agreement or understanding with respect to the
voting of the Units, except as may be created in the Operating Agreement.

(b)           Capitalization.  The minimum
number of twenty million two thousand five hundred (20,002,500) Units to be
issued to the Investor will constitute, on the date of issuance, a majority of
the fully diluted Units of the Company. 
The Investor Units have been duly authorized and, upon payment of the
purchase price for the Units, will be validly issued, fully paid and nonassessable,
and will not have been issued in violation of the preemptive rights of any
person.  There is no outstanding
convertible security, call, preemptive right, option, warrant, purchase right,
or other contract or commitment that would, directly or indirectly, require the
Investor to sell, issue, or otherwise dispose of the Investor Units.

(c)           Subscriptions.  As of the date of this Agreement,
the Company has received fully executed subscription agreements for a total of
nine million seven hundred thirteen thousand five hundred (9,713,500) Units and an amount equal to one million nine hundred
forty-two thousand seven hundred Dollars
($1,942,700) has been deposited, and is being held, in the
Offering Escrow pursuant to the Offering Escrow Agreement and subject to the
terms and

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conditions of the Offering.  The foregoing representation is also subject
to change as a result of the Post-Effective Amendment and the Confirmation
Process established thereunder.

(d)           No Material
Misstatement or Omission.  No statement contained in the Registration
Statement (including any amendments thereto including the Post-Effective
Amendment), in any other filing of the Company with the SEC or in this
Agreement contains any untrue statement of material fact or omits to state a material
fact necessary to make such statement, in light of the circumstances in which
it is made, not misleading; provided  that no representation or
warranty is made by the Company as to any such statements made in reliance upon
any statement described in Section 6(c) hereof.

(e)           Tax.  The
Company has never elected to be taxed other than as a partnership or a
disregarded entity for Federal, state or local income tax purposes.  The Company has duly and timely filed or
caused to be duly and timely filed all Federal, state and local Tax returns,
informational filings and reports (collectively, “Tax Returns”) that are
required to be filed by it in accordance with applicable rule and
regulations.  All such Tax Returns are
true, correct and complete in all material respects.  The Company has paid or caused to be paid all
Taxes shown to be due on such Tax Returns and has paid all other material Taxes
that are due and payable.  The Company does
not have, and does not own any direct or indirect interest in any entity that
has, any liability for Taxes (i) of another person by reason of an agreement,
transferee liability, joint and several liability, or otherwise, or (ii) of any
predecessor.   The Company has not
received from any governmental authority any written notice the subject of
which remains uncured (i) of underpayment of any material Tax, (ii) that
any actions relating to the Tax liability of the Company or any of its
subsidiaries are pending and/or (iii) that the institution of any such action
is contemplated by any governmental authority. 
The Company and its subsidiaries have not waived any restrictions on the
assessment or collection of Taxes, nor have any of them consented to the
extension of any statute of limitations period with respect to any such Tax that
has not since expired.  The term “Taxes”
means all Federal, state, local, and foreign taxes, charges, fees, levies or
other assessments, including, without limitation, special assessments for
improvements, income, gross receipts, excise, real and personal property,
sales, transfer, deed, stamp, license, payroll, withholding (including Social
Security) and franchise taxes, imposed by any governmental authority and shall
include any interest, penalties or additions to tax attributable to any of the
foregoing.

(f)            Majority of Board. 
Commencing on the next business day following Escrow Closing (as defined
in the Operating Agreement), the number of Governors serving the Company on the
Board of Governors shall be eleven (11) and, provided that the subscription contemplated
by Section 4(a) has been made and fully paid for, the Investor shall be
entitled to appoint six (6) of the Governors to the Board of Governors.  The Investor
shall thereafter have the right to appoint at least a majority of Governors to
the Board of Governors as long as it owns a majority of the Units, subject to
any subsequent amendments to the Operating Agreement.

(g)           Issuance
of Additional Units.  Without
limiting any other rights of the Investor, in the event that any of the
representations and warranties in Section 7(a) or (b) were not true and correct
when made, the Investor may, in lieu of the indemnification obligations under
Section 8(k), elect to receive from the Company, for no additional
consideration, a number of

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additional Units such that, following such
issuance of such Units, the Investor is the holder of that number of Units as
to which the representations and warranties set forth in such provisions are
true and correct following the issuance of such Units.  For the avoidance of doubt, in the event that
the representations and warranties in Section 7(a) were not true and correct
when made and the Investor elects to receive additional Units from the Company
pursuant to this Section 7(g), such additional Units shall (i) be free and
clear of any liens, pledges, hypothecations and encumbrances of any kind (other
than as permitted under the first sentence of Section 7(a)), (ii) not be
subject to any option, warrant, purchase right, preemptive right or other
contract or commitment in favor of any person (other than as permitted under
the second sentence of Section 7(a)), and (iii) not be subject to any voting
trust, proxy or other agreement or understanding with respect to the voting of
Units (other than as permitted under the third sentence of Section 7(a)).

(h)           Interests in Stock or Securities. The Company does
not have any interest in any stock, shares or securities issued by any other
company, corporation, partnership or body corporate.

(i)            Borrowings. 
The Company is not a party to any loan other than pursuant to that
certain Multipurpose Note and Security Agreement dated August 23, 2005 with
First Citizens National Bank, as renewed by a subsequent Multipurpose Note and
Security Agreement dated September 7, 2006.

Section 8.               Miscellaneous.

(a)           Governing Law;
Jurisdiction.  This Agreement shall be
governed by, and construed in accordance with the laws of the State of
Tennessee, without reference to the conflicts of law provisions thereof.  Each of the Parties irrevocably and
unconditionally submits to the non-exclusive jurisdiction of the courts of the
State of Tennessee sitting in Davidson County and of the United States District
Court for the Middle District of Tennessee and any appellate court, in any
action or proceeding arising out of or in relating to this Agreement.

(b)           WAIVER OF JURY TRIAL.  EACH OF THE PARTIES HERETO IRREVOCABLY WAIVES
TO THE EXTENT PERMITTED BY LAW, ALL RIGHTS TO TRIAL BY JURY IN ANY ACTION,
PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT.

(c)           Amendments.  No amendment
or waiver of any provision of this Agreement nor consent to any departure
therefrom shall in any event be effective unless the same shall be in writing
and signed by each of the Parties, and then such waiver or consent shall be
effective only in the specific instance and for the specific purpose for which
given.

(d)           Entire Agreement.  This
Agreement sets forth the entire understanding and agreement among the Parties
as to matters covered herein and supersedes any prior understanding, agreement
or statement (written or oral) of intent.

(e)           Headings.  The headings contained in this Agreement are
for convenience of reference only and shall not affect, in any way, the meaning
or interpretation of this Agreement.

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(f)            No Waiver; Remedies.  No failure
on the part of any Party hereto to exercise, and no delay in exercising, any
right hereunder shall operate as a waiver thereof; nor shall any single or
partial exercise of any right hereunder preclude any other or further exercise
thereof or the exercise of any other right. 
Except as specifically provided otherwise herein, the remedies provided
herein are cumulative and not exclusive of any remedies provided by law.  Rights hereunder shall not be waived, except
pursuant to a writing signed by the Party against which enforcement of the
waiver is sought.

(g)           Notices.  All notices
and any other communications provided for herein (including, without
limitation, any modifications of, or waivers or consents under, this Agreement)
shall be given in writing and transmitted by facsimile (with telephonic, return
facsimile or e-mail confirmation) or delivered by courier to the intended Party
at the addresses specified below:

If to Bioverda:

	
  Address:

  	
   

  	
  Bioverda Limited

  
	
   

  	
   

  	
  Burton Court

  
	
   

  	
   

  	
  Burton Hall Road

  
	
   

  	
   

  	
  Dublin 8

  
	
   

  	
   

  	
  IRELAND

  
	
  Telephone:

  	
   

  	
  +353 1 206 3722

  
	
  Facsimile:

  	
   

  	
  +353 1 206 3742

  
	
  Attention:

  	
   

  	
  Dave Geary, Finance Director

  

 

If to Virgin:

	
  Address:

  	
   

  	
  Virgin Group Holdings Limited

  
	
   

  	
   

  	
  c/o Abacus (C.I) Ltd

  
	
   

  	
   

  	
  La Motte Chambers

  
	
   

  	
   

  	
  La Motte Street

  
	
   

  	
   

  	
  St Helier

  
	
   

  	
   

  	
  Jersey

  
	
   

  	
   

  	
  JE1 1BJ

  
	
   

  	
   

  	
  UNITED KINGDOM

  
	
  Telephone:

  	
   

  	
  +44 1534 602422

  
	
  Facsimile:

  	
   

  	
  +44 1534 602035

  
	
  Attention:

  	
   

  	
  Ian Cuming

  

 10
 

 

 

with a copy sent to:

	
  Address:

  	
   

  	
  Virgin Fuels

  
	
   

  	
   

  	
  48 Leicester Square

  
	
   

  	
   

  	
  London WC2H 7LT

  
	
  Telephone:

  	
   

  	
  +44 207 484 4465

  
	
  Facsimile:

  	
   

  	
  +44 207 930 8750

  
	
  Attention:

  	
   

  	
  Shai Weiss, CEO

  

 

If to the Company:

	
  Address:

  	
   

  	
  Ethanol Grain Processors, LLC

  
	
   

  	
   

  	
  308 Windemere Woods Drive

  
	
   

  	
   

  	
  Nashville, TN 37215

  
	
  Telephone:

  	
   

  	
  (615) 298-4438

  
	
  Facsimile:

  	
   

  	
  (615) 298-4121

  
	
  Attention:

  	
   

  	
  James K. Patterson, CEO

  

 

and:

	
  Address:

  	
   

  	
  Ethanol Grain Processors, LLC

  
	
   

  	
   

  	
  P.O. Box 95

  
	
   

  	
   

  	
  Obion, TN 38240

  
	
  Telephone:

  	
   

  	
  (731) 536-1286

  
	
  Facsimile:

  	
   

  	
  (731) 536-1287

  
	
  Attention:

  	
   

  	
  James K. Patterson, CEO

  

 

with a copy sent to:

	
  Address:

  	
   

  	
  Lindquist & Vennum P.L.L.P.

  
	
   

  	
   

  	
  4200 IDS Center

  
	
   

  	
   

  	
  80 South 8th Street

  
	
   

  	
   

  	
  Minneapolis, MN  55402

  
	
  Telephone:

  	
   

  	
  (612) 371-5765

  
	
  Facsimile:

  	
   

  	
  (612) 371-3207

  
	
  Attention:

  	
   

  	
  Michael Weaver

  
	
   

  	
   

  	
  Eric R. Tausner

  

 

A Party
may, by notice to the other Parties, change the address or the person to which
such notices or communications are to be delivered.

Nothing in
this Section 8(g) shall invalidate any notice or other communication actually
given otherwise than as described in this Section 8(g).

(h)           Assignment.  Any rights and obligations under
this Agreement shall not be assigned by any Party without the prior written
consent of the other Parties; provided, that

 11
 

 

 

each of Bioverda and Virgin may
assign all of its rights and obligations hereunder to the Investor or any of their
respective affiliates without the prior written consent of any of the other
Parties.

(i)            Rights and Remedies.  The rights
and remedies granted under this Agreement shall not be exclusive but shall be
in addition to all other rights and remedies available under law or equity.

(j)            Further Assurances.  Each Party
shall take such additional action and shall coordinate with the other Parties,
as may be reasonably necessary to effectuate this Agreement and the
transactions contemplated hereby.

(k)           Indemnification.  Each Party
hereby agrees to indemnify and hold harmless the other Parties from any loss,
damage, liability, cost and expense (including without limitation reasonable
legal costs) that such other Party or Parties, as the case may be (each, an “Indemnitee”),
incurs resulting from or arising out of any breach of any representation,
warranty, covenant or other agreement made by the breaching Party in this
Agreement or as a result of or arising out of any claim by any person for any
broker’s or finder’s fees or similar compensation demands made by such person
against the Indemnitee in connection with the transactions contemplated by this
Agreement; provided,
that any obligation of Bioverda, Virgin or the Investor to indemnify the
Company shall be limited to four million five hundred Dollars ($4,000,500) in
the aggregate (inclusive of amounts recovered from the Separate Escrow), and provided,
further, that any obligation of the Company to indemnify Bioverda,
Virgin or the Investor shall be limited to four million five hundred Dollars
($4,000,500) except with respect to any indemnification obligation resulting
from or arising out of a breach of any of Sections 7(a), (b) or (d) hereof,
which shall not be subject to such limitation. 
The indemnification obligations of the Company set forth herein shall
also be for the benefit of and may be enforced by the Investor as a third-party
beneficiary of this provision.

The
Indemnitee agrees to give the Party from whom indemnification is sought prompt
written notice of any claim, assertion, event or proceeding by or in respect of
a third party of which the Indemnitee has knowledge concerning any liability or
damage as to which it may request indemnification hereunder.

(l)            Severability.  If any of
the provisions of this Agreement are held to be invalid or unenforceable under
the applicable law of any jurisdiction, the remaining provisions shall not be
affected, so long as the economic or legal substance of the transactions
contemplated by this Agreement is not affected in any manner materially adverse
to any Party.

(m)          Counterparts.  This
Agreement may be executed in one or more counterparts, each of which shall be
deemed to be an original, but all of which shall be considered one and the same
instrument.

(Remainder of page
intentionally left blank.)

 12

 

 

IN WITNESS WHEREOF, the parties hereto have executed the
Agreement as of the day and year first set forth above.

	
   

  	
  BIOVERDA LIMITED

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ Dave Geary

  	
   

  
	
   

  	
   

  	
  Name:

  	
  DAVE GEARY

  
	
   

  	
   

  	
  Title:

  	
  FINANCE DIRECTOR

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  VIRGIN GROUP HOLDINGS LIMITED

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ Frank Dearie

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Frank Dearie

  
	
   

  	
   

  	
  Title:

  	
  Alternate director to Niall M
  Ritchie

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  ETHANOL GRAIN PROCESSORS, LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ James K. Patterson

  	
   

  
	
   

  	
   

  	
  Name:

  	
  James K. Patterson

  
	
   

  	
   

  	
  Title:

  	
  Chief Executive OfficerExhibit
10.22

RATE SCHEDULE EFT

ENHACED
FIRM TRASPORTATION SERVICE

FORM OF SERVICE AGREEMENT

CONTRACT NO. 20061

THIS AGREEMENT is made effective as of the 1st May 2008, by and between:

TRUNKLINE
GAS COMPANY, LLC, (hereinafter called “Trunkline”), a Delaware Limited Liability Company

and

ETHANOL
GRAIN PROCESSORS, LLC 

(hereinafter called “Shipper”)

Shipper represents and warrants that Shipper conforms
to the requirements 0f 18
C. F. R.

Section 284.102     (284B - Intrastate Pipelines or Local Distribution Companies)

Section 284.221     (284G - Interstate Pipelines and Others)                                                                  
x

In consideration of the mutual covenants and
agreements as herein set forth, both Trunkline and Shipper covenant and agree as
follows:

ARTICLE 1
- SERVICE

Trunkline agrees to
receive at the Points of Receipt and deliver at the Points of Delivery, on a
firm basis, Quantities of Natural Gas up to the daily Quantity (Dt), which
shall constitute the Maximum Daily Quantity, stated on Exhibit A.

The Maximum Daily
Quantity is stated in delivered Quantities, for which received Quantities must
be adjusted for fuel usage and lost or unaccounted for Gas as set out in the
then-effective, applicable rates and charges under Trunkline’s Rate Schedule EFT.

 

Exhibit A hereto states
the Points of Receipt and Points of Delivery. Exhibit A may be revised from
time to time by written agreement between Trunkline and Shipper and, as may be
revised, is by this reference incorporated in its entirety into this Agreement
and made an integral part hereof. Shipper’s Maximum Daily Quantity shall be
assigned among the primary Points of Receipt set out on Exhibit A, as well as
among the primary Points of Delivery set out on Exhibit A. Such assignment may
be changed, subject to the availability of capacity, in accordance wi th the General Terms and
Conditions.

ARTICLE 2
- TERM

Trunkline shall provide
firm Transportation service for Shipper pursuant to this Agreement for the term
stated on Exhibit A.

ARTICLE 3 - RATES AND CHARGES

For the Services provided or contracted for hereunder,
Shipper agrees to pay Trunkline the then-effective, applicable rates and
charges under Trunkline’s
Rate Schedule EFT filed with the Commission, as such rates and charges
and Rate Schedule EFT may hereafter be modified, supplemented, superseded, or
replaced generally or as to the service hereunder.
Trunkline reserves the right from time to time to unilaterally file and
to make effective any such changes in the terms or rate levels under Rate
Schedule EFT and the applicability thereof, the General Terms and Conditions or any other provisions of Trunkline’s
Tariff, subject to the applicable provisions of the Natural Gas Act and the Commission’s Regulations thereunder.

From time to time Shipper
and Trunkline may agree in writing on a level of discount of the otherwise
applicable rates and charges hereunder pursuant to the effective applicable
provisions of Rate Schedule EFT and subject to the Regulations and Orders of
the Commission. For example,
Shipper and Trunkline may agree that a specified discounted rate shall
apply: (a) only to certain Quantities under this Agreement; (b) only if
specified Quantity levels are actually achieved
or only with respect to Quantities below a specified level; (c) only during specified time periods; (d) only
to specified Points of Receipt, Points of Delivery, mainline segments,
transportation paths or

 

defined geographical areas; (e) in a specified
relationship to the Quantities
actually transported (i. e., that the rates shall be adjusted in a specified
relationship to Quantities actually transported); or (f) based on
published index prices for specific receipt or delivery points or other agreed
upon pricing reference points for price determination (Such discounted rate may
be based on the published index price point differential or arrived at by
formula. Any Service Agreement containing an index based discount will identify
what rate component is discounted. To the extent the firm reservation charge is
discounted, the index price differential rate formula shall be calculated to
state a rate per unit of Maximum Daily Quantity.); provided, however, that any
such discounted rate set forth above shall be between the Maximum Rate and
Minimum Rate applicable to the service
provided under this Agreement. In addition, the discount agreement may
include a provision that if one rate component which was at or below the
applicable Maximum Rate at the time the discount agreement was executed
subsequently exceeds the applicable Maximum
Rate due to a change in Trunkline’s Maximum Rates so that such rate
component must be adjusted downward to equal the new applicable Maximum Rate,
then other rate components may be adjusted upward to achieve the agreed overall
rate, so long as none of the resulting rate components exceed the Maximum Rate
applicable to that rate component. Such changes to rate components shall be
applied prospectively, commencing with the date a Commission order accepts
revised tariff sheets. However, nothing contained herein shall be construed to
alter a refund obligation under applicable law for any period during which
rates which had been charged under a discount agreement exceeded rates which ul
timately are found to be just and reasonable. Any discount shall be effective
only on a prospective basis and as specified in the written agreement between Trunkline and Shipper.

From time to time Shipper
and Trunkline may agree to a Negotiated Rate for a specified term for service
hereunder. Provisions governing such Negotiated Rate and term shall be set
forth on Exhibit C to this Service
Agreement.

 

ARTICLE 4 - FUEL REIMBURSEMENT

In addition to collection
of the rates and charges provided for in Article 3, Trunkline shall retain, as
Fuel Reimvursement, the percentage of the Quantities received from Shipper
hereunder, as provided pursuant to Rate Schedule EFT.

ARTICLE 5 - GENERAL TERMS AND CONDITIONS

This Agreement and all
terms for service hereunder are subject to the further provisions of Rate
Schedule EFT and the General Terms and Conditions of Trunkline’s Tariff, as such may be modified, supplemented,
superseded or replaced generally or as to the service hereunder.

Trunkline reserves the
right from time to time to unilaterally file and to make effective any such
changes in the provisions of Rate Schedule EFT and the General Terms and
Conditions, subj ect to the applicable provisions of the Natural Gas Act and
the Commission’s Regulations thereunder. Such Rate Schedule and General Terms
and Conditions, as may be changed from time to time, are by this reference
incorporated in their entirety into this Agreement and made an integral part
hereof.

ARTICLE 6
- CANCELLATION OF PREVIOUS CONTRACTS

This Agreement
supersedes, cancels, and terminates, as of the date (s) stated below, the following Agreement
(s) (if any) with respect to the Transportation of Natural Gas between
Trunkline and Shipper:

 

ARTICLE 7
- NOTICES

The Post Office addresses
of both Trunkline and Shipper are as follows:

TRUNKLlNE

	
  Payment:

  	
  Trunkline Gas Company, LLC

  P. O. Box 201203
Houston, Texas 77216-1203

  	
   

  
	
   

  	
   

  	
   

  
	
  Nomination and Scheduling:

  	
  Trunkline Gas Company, LLC

  Attn: Marketing Operations 

  P. O. Box 4967 
Houston, Texas 77210-4967

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  BUSINESS DAY, OR SATURDAY AND

  SUNDAY 10 a.m. - 2 p.m. CT

  	
   

  
	
   

  	
  Phone:

  	
  (713) 989-7590

  	
   

  
	
   

  	
  Fax:

  	
  (713) 989-1121

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  ALL OTHER HOURS 

  Phone: 

  	
  

  (713) 962-9862

  	
   

  
	
   

  	
   

  	
   

  
	
  Pipeline Emergencies:

  	
  Trunkline Gas Company, LLC

  	
   

  
	
  (Not to be used for

  	
  Attn: Gas Control

  	
   

  
	
  any other purpose)

  	
  P. O. Box 4967

  	
   

  	
   

  
	
   

  	
  Houston, Texas 

  	
  77210-4967

  	
   

  
	
   

  	
  Phone: 

  	
  (713) 627-5621

  	
   

  
	
   

  	
  Toll Free: 

  	
  1-800-225-3913
  

  	
   

  
	
   

  	
  Texas only: 

  	
  1-800-221-1084

  	
   

  
	
   

  	
   

  	
   

  
	
  Al1 Other:

  	
  Trunkline Gas Company, LLC 

  Attn: Customer Services
  
P. O. Box 4967

  	
   

  
	
   

  	
  Houston, Texas 

  	
  77210-4967

  	
   

  
	
   

  	
  Phone: 

  	
  (713) 627-4272

  	
  or

  
	
   

  	
   

  	
  1-800-275-7375

  	
   

  
	
   

  	
  Fax: 

  	
  (713) 989-1178

  	
   

  
					

 

 

SHIPPER

 

	
  Billing:

  	
  Ethanol Grain Processors, LLC

  
	
   

  	
  c/o U.S. Energy Services, Inc.

  
	
   

  	
  Street:

  	
  1000 Superior Blvd STE 201 Wayzata, MN 55391-1873

  
	
   

  	
  Mailing:

  	
   

  
	
   

  	
  Attn:

  	
  Accounts Payable 

  
	
   

  	
  Phone: 

  	
  (952) 745-4301

  
	
   

  	
   

  	
   

  
	
   

  	
  Ethanol Grain Processors, LLC

  
	
   

  	
  c/o u.s. Energy Services, Inc.

  
	
   

  	
  Street:

  	
  1000 Superior Blvd STE 201 Wayzata, MN 55391-1873

  
	
   

  	
  Mailing:

  	
  (10)00 Superior Blvd STE 201 Wayzata, MN 55391-1873

  
	
   

  	
  Attn:

  	
  Bill Anderson 

  
	
   

  	
  Phone: 

  	
  (952) 745-4301

  
	
   

  	
   

  	
   

  
	
  Nomination and Scheduling: (1)

  	
  U.S. Energy Services, Inc.

  
	
   

  	
  Street:

  	
  1000 Superior Blvd STE 201 Wayzata, MN 55391-1873

  
	
   

  	
  Mailing:

  	
  1000 Superior Blvd STE 201 Wayzata, MN 55391-1873

  
	
   

  	
  Attn:

  	
  Bill Anderson 

  
	
   

  	
  Phone: 

  	
  (952) 745-4301

  
	
   

  	
   

  	
   

  
	
  All Other:

  	
  Ethanol Grain Processors, LLC

  
	
   

  	
  c/o U.S. Energy Services, Inc.

  
	
   

  	
  Street:

  	
  1000 Superior Blvd STE 201 Wayzata, MN 55391-1873

  
	
   

  	
  Mailing:

  	
  1000 Superior Blvd STE 201 Wayzata, MN 55391-1873

  
	
   

  	
  Attn:

  	
  Bill Anderson 

  
	
   

  	
  Phone: 

  	
  (952) 745-4301

  
				

 

(1) Please provide street address in addition to
mailing address.

 

CONTRACT NO. 20061

IN WITNESS WHEREOF, both
Trunkline and Shipper have caused this Agreement to be executed in several
counterparts by their respective officers or other persons duly authorized to
do so.

	
  SHIPPER: ETHANOL GRAIN PROCESSORS,
  LLC

  
	
   

  
	
  By:

  	
  /s/ James K. Patterson

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  JAMES K. PATTERSON

  	
   

  
	
   

  	
  (Please type or print name)

  	
   

  
	
   

  	
   

  	
   

  
	
  Title:

  	
  CHIEF EXECUTIVE
  OFFICER

  	
   

  
	
   

  	
   

  	
   

  
	
  EXECUTED

  	
  AUGUST 24, 2006

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  TRUNKLINE GAS
  COMPANY, LLC

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Mark S. Wilke

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  MARK S. WILKE

  	
   

  
	
   

  	
  (Please type or print name)

  	
   

  
	
   

  	
   

  	
   

  
	
  Ti tle:

  	
  MANAGER

  	
   

  
	
   

  	
   

  	
   

  
	
  EXECUTED

  	
  8-31-08

  	
   

  

 

 

RATE
SCHEDULE EFT (Continued)

ENHACED
FIRM TRANSPORTATION SERVICE

FORM OF SERVICE AGREEMENT

EXHIBIT A

Transportation Agreement

For

Enhanced
Firm Service

Under Rate Schedule EFT

Between

TRUNKLINE GAS
COMPANY, LLC 

and ETHANOL GRAIN PROCESSORS, LLC

Contract No. 20061

	
  Effective Date:

  	
  May 1, 2008 

  

 

Supersedes Exhibit A dated:

Maximum Daily Quantity for each specified period of
the Agreement:

	
  Effective from 05/01/2008
  through 03/31/2018:

  	
   

  	
  9,400 Dt.

  	
   

  

 

 

RATE SCHEDULE EFT (Continued)

ENHANCED FIRM TRANSPORTATION SERVICE

FORM OF SERVICE AGREEMENT

EXHIBIT A

Transportation
Agreement

For

Enhanced Firm Service

Under Rate Schedule EFT

Between
TRUNKLINE GAS COMPANY, LLC

and ETHANOL GRAIN PROCESSORS, LLC

Contract No. 20061

	
   

  	
  TRUNKLINE GAS COMPANY LLC

  
	
   

  	
   

  
	
   

  	
  BY:

  	
  /s/ Mark S. Wilke

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Mark S. Wilke

  	
   

  
	
   

  	
   

  	
  (Please type or print name)

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
  MANAGER

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Executed:

  	
  9-6-06

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  
	
  SHIPPER: ETHANOL
  GRAIN PROCESSORS, LLC

  
	
   

  	
   

  
	
  BY:

  	
  /s/ James K.
  Patterson

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  JAMES K.
  PATTERSON

  	
   

  
	
   

  	
  (Please type or
  print name)

  	
   

  
	
   

  	
   

  	
   

  
	
  Title:

  	
  CHIEF EXECUTIVE
  OFFICER

  	
   

  
	
   

  	
   

  	
   

  
	
  Executed: 

  	
  AUGUST 24, 2006

  	
   

  
						

 

 

July 14, 2006

James K. Patterson

Ethanol Grain Processors, LLC

308 Windemere Woods Drive

Nashvile, TN 37215

	
  Re:

  	
  Discounted Rate for Enhanced Firm Transportation

  
	
   

  	
  Trunkline Gas
  Company, LLC

  
	
   

  	
  Rate Schedule EFT

  
	
   

  	
  Agreement No.
  20061

  

 

Dear Mr. Patterson:

Trunkline Gas Company, LLC
(“Pipeline”) and Ethanol Grain Processors, LLC (“Shipper”) (sometimes referred to herein individually as
a “Party” and jointly as the “Parties”) agree that rate(s) payable by Shipper
under Pipeline’s firm transportation service agreement referenced above (“Service
Agreement”) and described in
this Letter Agreement shall be discounted as set forth below.

1.               Pipeline is providing Shipper a transportation
rate discount pursuant to the provisions of Article 3 of the Service Agreement.
This Letter Agreement and the Service Agreement constitute the entire agreement
of the Parties and supersede all prior understandings and agreements, oral or
written, related to the firm transportation capacity provided pursuant to such
Service Agreement No. 20061.

2.               Subject to the provisions of this Letter
Agreement, the term of the discount shall begin on May 1, 2008 and end on March 31, 2018 (“Discount
Period”). After the Discount Period, Shipper shall pay Pipeline the maximum rates for the service as set forth in
the Pipeline’s FERC Gas Tariff
from time to time.

3.               During the Discount Period, Shipper shall pay
Pipeline a discounted reservation rate component for the service and
entitlement described in the Service Agreement and in this Letter Agreement. Shipper shall pay Pipeline the
minimum usage rate(s) in effect from time to time for service under Rate Schedule EFT. The
reservation rate shall be discounted so that the 100 percent load factor
rate during the entire Discount Period shall be equal to 20.00 cents per Dekathenn (“DC’). For purposes of this Letter
Agreement, the 100 percent load factor rate is the average rate per Dt that
Shipper would pay if it were to take its full contract entitlement on each
day that it is entitled to do so in any annual period. The 100% load factor
rate and the rate components described in this Paragraph shall sometimes be
referred to in this Letter Agreement as
(the) “Discounted Rate(s).”

4.               Shipper
shall be responsible for paying Pipeline the charges for the following items in
accordance with Pipeline’s FERC
Gas Tariff and, if appropriate, Paragraph 6, below.

Rates or surcharges included in Discounted Rate(s):
Reservation Charge, Usage Charge, and ACA.

	
  5444 Westheimer Rd

  	
  Houston, Texas 77056-5306

  	
  (713) 989-7000

  

 

 

Rates or surcharges, in addition to the above
Discounted Rate(s), shall also be the responsibility  of the Shipper in accordance with Pipeline’s
tariff: Fuel Reimbursement, gathering, penalty charges, overrun charges,
scheduling charges, cash-out charges, and charges for receipts and deliveries other than at discounted points
specified below.

5.               The
Discounted Rate(s) shall apply only to the service and entitiement provided
under the Service Agreement and
described below:

EFT Aereement 20061

	
  

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Discounted

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Avg Monthlv

  	
   

  
	
   

  	
   

  	
  Primary Receipt

  	
   

  	
  Primary Delivery

  	
   

  	
  Quantity

  	
   

  	
  Reservation

  	
   

  
	
  Effective Period

  	
   

  	
  Points

  	
   

  	
  Points

  	
   

  	
  (Dt/day) 

  	
   

  	
  Rate ($/Dt)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  May 1, 2008 -

  March 31, 2018

  	
   

  	
  East Louisiana (ELA)

  	
   

  	
  Proposed EGP Meter Station
  in Zone IB

  	
   

  	
  9,400

  	
   

  	
  $

  	
  5.6332

  	
   

  
											

 

Total Quantity for EFT Agreement 20061 is 9,400
Dt/day.

Overall Rate under EFT Agreement 2006 i is 20.00 cents per Dekatherm (“Dt”).

6.               If
from time to time during the Discount Period the Discounted Rate(s) are lower
than the then effective
applicable minimum rate set forth in Trunkline’s tariff, then the Discounted
Rate(s) will be increased to
equal the respective minimum tarff rate. If from time to time the Discounted Rate(s) exceed the applicable
maximum tariff, Shipper and Trunkline hereby agree Shipper shall pay the
Discounted Rate(s) as a Negotiated Rate pursuant to Section 3.10 of Rate Schedule EFT. TrunkJine reserves the right to
adjust the rates charged Shipper between reservation and commodity components so long as it does not exceed the
Discounted Rate(s) on a 100%
load factor basis.

7.               If
at any time during the Discount Period, Pipeline collects rates subject to
refund, Pipeline’s maximum refund
obligation as to the Discounted Rate(s) shall be the excess, if any, of the Discounted Rate(s) over and above 100 percent
of the maximum tariff rates for the service, as finally approved. For that portion of the Discount Period that refunds
are payable, Pipeline shall offset any under-collections against
over-collections under the Service Agreement to determine the net refund amount due Shipper.

8.               This
Letter Agreement shall terminate with respect to any capacity that Shipper
permanently releases under the Service
Agreement. This Letter Agreement shall continue to define Shipper’s rate
obligation to Pipeline if Shipper temporarly releases capacity under the
Service Agreement.

9.               This Letter Agreement shall be binding upon
and inure to the benefit of any successor to either Party by merger,
consolidation or acquisition; otherwise, neither Party shall assign this Letter
Agreement or any of its rights or obligations hereunder unless it shall first
have obtained the

 2
 

 

written consent of the other Party. Such consent
shall not be unreasonably withheld. No consent shall be required for the pledging or mortgaging by either Pary
of its rights hereunder as
security for its indebtedness.

10.         The parties and their respective employees, agents and attorneys shall
not disclose or communicate the substance or terms of this Letter
Agreement to any other person unless (a) required
by law, regulation or order of government authority, including such disclosure
of the terms hereof as may be
required in proceedings before the Federal Energy Regulatory Commission or other regulatory agency having jurisdiction,
or (b) the Party wishing to make the disclosure first obtains the express
written consent of the other Party or (c) the Party makng the disclosure enters into a protective
agreement with such other person or persons to provide that the substance
and terms of this Letter Agreement remain confidential.

If
you are in agreement with the foregoing, please have a duly authorized
representative sign both originals of this Letter Agreement in the appropriate
space provided below, and return one executed original to the letterhead address.

	
   

  	
  Sincerely,

  
	
   

  	
  TRUNKLlNE GAS
  COMPANY. LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  /s/ Greg A.
  Myers 7/24/06

  	
   

  
	
   

  	
  [Representative]

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  TRUNKLINE GAS
  COMPANY, LLC .

  
	
   

  	
   

  
	
   

  	
  BY:

  	
  /s/ MJM 8/28/06

  	
   

  
	
   

  	
   

  	
  [Name]

  	
   

  
	
   

  	
   

  
	
   

  	
  Agent and Attorney-In-Fact

  	
   

  
	
   

  	
  [Title]

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  Accepted and
  Agreed to this

  	
   

  
	
  24TH day of August, 2006:

  	
   

  
	
   

  	
   

  
	
  ETHANOL GRAIN
  PROCESSORS, LLC

  	
   

  
	
   

  	
   

  
	
  BY:

  	
  /s/ James K.
  Patterson

  	
   

  	
   

  
	
   

  	
  [Name]

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  CHIEF EXECUTIVE
  OFFICER

  	
   

  	
   

  
	
   

  	
  [Title]

  	
   

  	
   

  
									

 

 3

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