Document:

Exhibit 10.4

PARENT GUARANTY

Aventine Renewable Energy
- Aurora West, LLC, a Delaware company (“Owner”), and Kiewit Energy Company, a
Delaware corporation (“Contractor”) entered into an EPC Fixed Price Contract
dated May 31, 2007 (the “Agreement”).

WHEREAS,
Owner is an indirect wholly-owned subsidiary of Aventine
Renewable Energy Holdings, Inc., a Delaware corporation (the “Guarantor”); and

WHEREAS,
Guarantor will derive direct and indirect benefit from Owner
entering into the Agreement; and

WHEREAS,
as a condition to Contractor’s entering into the Agreement
Contractor requires that Guarantor execute this Parent Guaranty

NOW
THEREFORE, Guarantor agrees as follows:

1.                          Guarantor
irrevocably guarantees the full and timely performance by Owner of all its
obligations, terms, provisions, conditions, and stipulations under the
Agreement, as now or hereafter amended (the “Obligations”), and hereby
undertakes that if Owner shall in any respect fail to pay, perform and observe
all of the Obligations of the Agreement, Guarantor shall (i) pay or perform or
have paid or performed all Obligations as required by the Agreement, without
any requirement that Contractor first proceed against Owner, and (ii) reimburse
Contractor for any expenses incurred in enforcing its rights under this Parent
Guaranty against Guarantor, in each case upon five (5) business days following
Guarantor’s receipt of written notice of Owner’s failure to pay or perform an
Obligation, or an itemization of such expenses incurred. This Parent Guaranty
constitutes a guarantee of payment when due and not of collection.

2.                          The
obligations of Guarantor under this Parent Guaranty shall be primary, absolute
and unconditional obligations of Guarantor, independent of the obligations of
Owner, shall not be subject to any counterclaim, set-off, deduction,
diminution, abatement, recoupment, suspension, deferment, reduction or defense
based upon any claim Guarantor may have against Owner. To the fullest extent
permitted by applicable law this Parent Guaranty shall remain in full force and
effect without regard to, and shall not be released, discharged or in any way
affected by:

(a)                     any
termination, amendment or modification of or deletion from or addition to or
other change in the Agreement or any other instrument or agreement applicable
to any of the parties to the Agreement;

(b)                    any
voluntary or involuntary bankruptcy, insolvency, reorganization, arrangement,
readjustment, assignment for the benefit of creditors, composition,
receivership, conservatorship, custodianship, liquidation, marshaling of assets
and liabilities or similar proceedings with respect to Owner, Guarantor,
Contractor or any other person or any of their respective properties or
creditors, or any action taken by any trustee or receiver or by any court in
any such proceeding;

 1
 

(c)                     any
merger or consolidation of Owner or Guarantor into or with any other
corporation, or any sale, lease or transfer of any of the assets of Owner or
Guarantor to any other person;

(d)                    any
change in the ownership of any interests of Owner or any change in the
relationship between Owner and Guarantor, or any termination of such
relationship;

(e)                     any
failure of Owner to conform with any provision of the Agreement or any other
agreement; or

(f)                       any
failure or delay on the part of Contractor to enforce any right under the
Agreement.

3.                          The
Guarantor unconditionally waives, to the extent permitted by applicable law,

(a)                     notice
of any of the matters referred to in Section 2;

(b)                    notice
to Guarantor of any breach or default with respect to the Agreement or any
other notice that may be required, by statute, rule of law or otherwise, to
preserve any rights of Contractor against the Guarantor;

(c)                     any
requirement to exhaust any remedies;

(d)                    any
other circumstance whatsoever which might otherwise constitute a legal or
equitable discharge, release or defense of a guarantor or surety or which might
otherwise limit recourse against Guarantor.

4.                          This
Parent Guaranty shall continue to be effective or be reinstated, as the case
may be, if at any time payment, or any part thereof, to Contractor is
rescinded, invalidated, declared to be fraudulent or preferential, or must
otherwise be returned, refunded, repaid or restored by Contractor upon the
insolvency, bankruptcy, dissolution, liquidation or reorganization of Owner or
Guarantor or upon or as a result of the appointment of a receiver, intervenor
or conservator of, or trustee or similar officer for, Owner or any substantial
part of its property, or otherwise, all as though such payments had not been
made.

5.                          Guarantor
agrees that any and all present and future debts or obligations of any nature
whether arising in connection herewith or otherwise of Owner to Guarantor are
subordinated to the claims of Contractor with respect to the Agreement. Guarantor
agrees to be bound by any findings of fact or final award or judgment (rendered
under arbitration or otherwise) made against Owner under the Agreement, or any
settlement reached by Contractor and Owner.

6.                          The
obligations of Guarantor set forth herein constitute the full recourse
obligations of Guarantor enforceable against it to the full extent of all its
assets and properties.

7.                          This
Parent Guaranty shall be binding upon Guarantor and its successors and assigns.

 2
 

8.                          This
Parent Guaranty shall be governed by, and construed and interpreted in
accordance with the law of the State of New York. Venue for any action to
enforce this Parent Guaranty shall be in a court of competent jurisdiction in
New York. Both parties to this Parent Guaranty waive all rights to a trial by
jury in any action arising out of or relating to the Parent Guaranty.

9.                          This
Parent Guaranty and the terms, covenants and conditions hereof shall be binding
upon Guarantor and its successors and shall inure to the benefit of Contractor
and its successors and assigns. Guarantor shall not be permitted to assign or
transfer any of its rights or obligations under this Parent Guaranty, except
pursuant to a merger or consolidation in which (i) Guarantor is the survivor,
or (ii) the surviving entity, if not Guarantor, is organized under the laws of
the United States or a state thereof and explicitly assumes all obligations of
Guarantor under this Parent Guaranty.

10.                    Notwithstanding
any other provision of this Parent Guaranty, Guarantor’s undertakings and
obligations hereunder with respect to the Agreement are derivative of and not
in excess of the Owner’s obligations under the Agreement and the Guarantor
retains all rights, claims, defenses, and limitations of liability possessed by
Owner under the terms of the Agreement or arising from the parties’ performance
or failure to perform thereunder and shall be entitled to assert any
contractual defenses that would have been available to the Owner under the
Agreement, except that no defense previously raised by Owner which has been
fully adjudicated, determined or settled in accordance with the terms of the
Agreement may be raised by Guarantor, and no cure period previously used by
Owner may be used or relied upon by Guarantor.

IN
WITNESS WHEREOF, Guarantor has caused this Parent Guaranty to
be signed in the name and on behalf of Guarantor by its authorized
representative as of this      day of                 
2007.

 

	
  

  	
   

  	
   

  	
  Aventine Renewable Energy Holdings. Inc.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Ronald H. Miller

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Ronald H. Miller

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Title:

  	
  President & CEO

  

 

 3Exhibit 10.5

PARENT GUARANTY

Aventine Renewable Energy
- Mt. Vernon, LLC, a Delaware company (“Owner”), and Kiewit Energy Company, a
Delaware corporation (“Contractor”) entered into an EPC Fixed Price Contract
dated May 31, 2007 (the “Agreement”).

WHEREAS,
Owner is an indirect wholly-owned subsidiary of Aventine
Renewable Energy Holdings, Inc., a Delaware corporation (the “Guarantor”); and

WHEREAS,
Guarantor will derive direct and indirect benefit from Owner
entering into the Agreement; and

WHEREAS,
as a condition to Contractor’s entering into the Agreement Contractor requires
that Guarantor execute this Parent Guaranty

NOW
THEREFORE, Guarantor agrees as follows:

1.                          Guarantor
irrevocably guarantees the full and timely performance by Owner of all its
obligations, terms, provisions, conditions, and stipulations under the
Agreement, as now or hereafter amended (the “Obligations”), and hereby
undertakes that if Owner shall in any respect fail to pay, perform and observe
all of the Obligations of the Agreement, Guarantor shall (i) pay or perform or
have paid or performed all Obligations as required by the Agreement, without
any requirement that Contractor first proceed against Owner, and (ii) reimburse
Contractor for any expenses incurred in enforcing its rights under this Parent
Guaranty against Guarantor, in each case upon five (5) business days following
Guarantor’s receipt of written notice of Owner’s failure to pay or perform an
Obligation, or an itemization of such expenses incurred. This Parent Guaranty
constitutes a guarantee of payment when due and not of collection.

2.                          The
obligations of Guarantor under this Parent Guaranty shall be primary, absolute
and unconditional obligations of Guarantor, independent of the obligations of
Owner, shall not be subject to any counterclaim, set-off, deduction,
diminution, abatement, recoupment, suspension, deferment, reduction or defense
based upon any claim Guarantor may have against Owner. To the fullest extent
permitted by applicable law this Parent Guaranty shall remain in full force and
effect without regard to, and shall not be released, discharged or in any way
affected by:

(a)                     any
termination, amendment or modification of or deletion from or addition to or
other change in the Agreement or any other instrument or agreement applicable
to any of the parties to the Agreement;

(b)                    any
voluntary or involuntary bankruptcy, insolvency, reorganization, arrangement,
readjustment, assignment for the benefit of creditors, composition,
receivership, conservatorship, custodianship, liquidation, marshaling of assets
and liabilities or similar proceedings with respect to Owner, Guarantor,
Contractor or any other person or any of their respective properties or
creditors, or any action taken by any trustee or receiver or by any court in
any such proceeding;

 1
 

(c)                     any
merger or consolidation of Owner or Guarantor into or with any other
corporation, or any sale, lease or transfer of any of the assets of Owner or
Guarantor to any other person;

(d)                    any
change in the ownership of any interests of Owner or any change in the
relationship between Owner and Guarantor, or any termination of such
relationship;

(e)                     any
failure of Owner to conform with any provision of the Agreement or any other
agreement; or

(f)                       any
failure or delay on the part of Contractor to enforce any right under the
Agreement.

3.                          The
Guarantor unconditionally waives, to the extent permitted by applicable law,

(a)                     notice
of any of the matters referred to in Section 2;

(b)                    notice
to Guarantor of any breach or default with respect to the Agreement or any
other notice that may be required, by statute, rule of law or otherwise, to
preserve any rights of Contractor against the Guarantor;

(c)                     any
requirement to exhaust any remedies;

(d)                    any
other circumstance whatsoever which might otherwise constitute a legal or
equitable discharge, release or defense of a guarantor or surety or which might
otherwise limit recourse against Guarantor.

4.                          This
Parent Guaranty shall continue to be effective or be reinstated, as the case
may be, if at any time payment, or any part thereof, to Contractor is
rescinded, invalidated, declared to be fraudulent or preferential, or must
otherwise be returned, refunded, repaid or restored by Contractor upon the
insolvency, bankruptcy, dissolution, liquidation or reorganization of Owner or
Guarantor or upon or as a result of the appointment of a receiver, intervenor
or conservator of, or trustee or similar officer for, Owner or any substantial
part of its property, or otherwise, all as though such payments had not been
made.

5.                          Guarantor
agrees that any and all present and future debts or obligations of any nature
whether arising in connection herewith or otherwise of Owner to Guarantor are
subordinated to the claims of Contractor with respect to the Agreement.
Guarantor agrees to be bound by any findings of fact or final award or judgment
(rendered under arbitration or otherwise) made against Owner under the
Agreement, or any settlement reached by Contractor and Owner.

6.                          The
obligations of Guarantor set forth herein constitute the full recourse
obligations of Guarantor enforceable against it to the full extent of all its
assets and properties.

7.                          This
Parent Guaranty shall be binding upon Guarantor and its successors and assigns.

 2
 

8.                          This
Parent Guaranty shall be governed by, and construed and interpreted in
accordance with the law of the State of New York. Venue for any action to
enforce this Parent Guaranty shall be in a court of competent jurisdiction in
New York. Both parties to this Parent Guaranty waive all rights to a trial by
jury in any action arising out of or relating to the Parent Guaranty.

9.                          This
Parent Guaranty and the terms, covenants and conditions hereof shall be binding
upon Guarantor and its successors and shall inure to the benefit of Contractor
and its successors and assigns. Guarantor shall not be permitted to assign or
transfer any of its rights or obligations under this Parent Guaranty, except
pursuant to a merger or consolidation in which (i) Guarantor is the survivor,
or (ii) the surviving entity, if not Guarantor, is organized under the laws of
the United States or a state thereof and explicitly assumes all obligations of
Guarantor under this Parent Guaranty.

10.                    Notwithstanding
any other provision of this Parent Guaranty, Guarantor’s undertakings and
obligations hereunder with respect to the Agreement are derivative of and not
in excess of the Owner’s obligations under the Agreement and the Guarantor
retains all rights, claims, defenses, and limitations of liability possessed by
Owner under the terms of the Agreement or arising from the parties’ performance
or failure to perform thereunder and shall be entitled to assert any
contractual defenses that would have been available to the Owner under the
Agreement, except that no defense previously raised by Owner which has been
fully adjudicated, determined or settled in accordance with the terms of the
Agreement may be raised by Guarantor, and no cure period previously used by
Owner may be used or relied upon by Guarantor.

IN
WITNESS WHEREOF, Guarantor has caused this Parent Guaranty to
be signed in the name and on behalf of Guarantor by its authorized
representative as of this            
day of                
2007.

 

	
  

  	
   

  	
   

  	
  Aventine Renewable Energy Holdings. Inc.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Ronald H. Miller

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  	
  Ronald H. Miller

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Title:

  	
  President & CEO

  

 

 3

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