Document:

First Amendment to Credit Agreement by and among Green Plains Central City LLC

 Exhibit 10.23(f) 

FIRST AMENDMENT TO 
 CREDIT AGREEMENT 
 THIS FIRST AMENDMENT TO CREDIT AGREEMENT (this
“Amendment”) is entered into to be effective as of December 31, 2010 (the “Effective Date”), among GREEN PLAINS CENTRAL CITY LLC, a Delaware limited liability company (“GPCC”), GREEN PLAINS
HOLDINGS LLC, a Delaware limited liability company (“Holdings” and together with GPCC the “Borrower”), AGSTAR FINANCIAL SERVICES, PCA (“AgStar”) and the other commercial, banking or financial
institutions whose signatures appear on the signature pages hereof or which hereafter become parties to the Credit Agreement (collectively, the “Banks”), and AGSTAR FINANCIAL SERVICES, PCA, and its successors and assigns, as
Administrative Agent for itself and the other Banks (“Agent”). 
 RECITALS 

A.     Borrower, Agent, and the Banks entered into a Credit Agreement dated as of July 2, 2009 (as amended,
restated or otherwise modified from time to time, the “Credit Agreement”) under which the Banks agreed to extend certain financial accommodations to Borrower. 
 B.     At the request of Borrower, the Banks have agreed to make certain modifications to the Credit Agreement, all in accordance with the terms and conditions of this Amendment.

 C.     All terms used and not otherwise defined herein shall have the meanings assigned to them in
the Credit Agreement. 
 AGREEMENT 
 NOW THEREFORE, in consideration of the premises herein contained, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as
follows: 
 1.     Amendment to Defined Term. The following defined term as used in the
Credit Agreement and other Loan Documents shall be amended and restated as follows: 
 “Maintenance Capital
Expenditures” means all Capital Expenditures made in the ordinary course of business to maintain existing business operations of the GPCC in any fiscal year, determined in accordance with GAAP, consistently applied; provided however that
for purposes of the Fixed Coverage Ratio if any such expenditure is separately funded by GPCC’s parent or an Affiliate of GPCC, through an equity investment in GPCC or under approved subordinated indebtedness consistent with the terms of this
Agreement, it shall not be included as a Maintenance Capital Expenditure. 
 2.     Other
Amendments. Subsection 5.02(c) of the Credit Agreement is hereby amended and restated to read as follows: 

(c)     Capital Expenditures. Make any investment in fixed assets, other than Maintenance Capital
Expenditures, in excess of the aggregate amount of One Million and No/100 Dollars ($1,000,000.00) during any fiscal year during the term of this Agreement; or 
 3.     Effect on Credit Agreement. Except as expressly amended by this Amendment, all of the terms of the Credit Agreement shall be unaffected by this
Amendment and shall remain in full force and effect. Nothing contained in this Amendment shall be deemed to constitute a waiver of any rights of the Banks or to affect, modify, or impair any of the rights of the Banks as provided in the Credit
Agreement. 

  
 1 

 4.     Conditions Precedent to Effectiveness of this
Amendment. The obligations of the Banks hereunder are subject to the conditions precedent that Agent shall have received the following, in form and substance satisfactory to Agent: 

a.     this Amendment duly executed by Borrower, Agent, and the Banks; and 

b.     all other documents, instruments, or agreements required to be delivered to Agent under the Credit
Agreement and not previously delivered to Agent. 
 5.     Representations and Warranties of
Borrower. Borrower hereby agrees with, reaffirms, and acknowledges as follows: 
 a.     The
execution, delivery and performance by Borrower of this Amendment is within Borrower’s power, has been duly authorized by all necessary action, and does not contravene: (i) the certificate of formation or operating agreement of Borrower;
or (ii) any law or any contractual restriction binding on or affecting Borrower; and does not result in or require the creation of any lien, security interest or other charge or encumbrance upon or with respect to any of its properties;

 b.     This Amendment is, and each other Loan Document to which Borrower is a party when delivered
will be, legal, valid and binding obligations of Borrower enforceable against Borrower in accordance with their respective terms, except as may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, or similar laws affecting
the enforcement of creditor’s rights generally and by general principles of equity; and 

c.     All other representations, warranties and covenants contained in the Credit Agreement and the other Loan
Documents are true and correct and in full force and effect. 
 6.     Counterparts. It
is understood and agreed that this Amendment may be executed in several counterparts each of which shall, for all purposes, be deemed an original and all of which, taken together, shall constitute one and the same agreement even though all of the
parties hereto may not have executed the same counterpart of this Amendment. Electronic delivery of an executed counterpart of a signature page to this Amendment shall be effective as delivery of an original executed counterpart to this Amendment.

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

[SIGNATURE PAGE TO IMMEDIATELY FOLLOW THIS PAGE] 

  
 2 

 SIGNATURE PAGE TO 
 FIRST AMENDMENT TO CREDIT AGREEMENT 
 BY AND AMONG 

GREEN PLAINS CENTRAL CITY LLC (as Borrower), 
 GREEN PLAINS HOLDINGS LLC (as Borrower), 
 AGSTAR FINANCIAL SERVICES, PCA (AS
AGENT), AND 
 THE BANKS 
 Dated to be effective as of December 31, 2010 
 BORROWER: 

GREEN PLAINS CENTRAL CITY LLC, 
 a
Delaware limited liability company 
  
 By: /s/ Ron B. Gillis

 Name: Ron B. Gillis 
 Title: EVP Finance and Treasurer 
 and 
 GREEN PLAINS HOLDINGS LLC, 
 a Delaware limited liability company 

 
 By: /s/ Ron B. Gillis 

Name: Ron B. Gillis 
 Title: EVP Finance and Treasurer 

  
 3 

 SIGNATURE PAGE TO 
 FIRST AMENDMENT TO CREDIT AGREEMENT 
 BY AND AMONG 

GREEN PLAINS CENTRAL CITY LLC (as Borrower), 
 GREEN PLAINS HOLDINGS LLC (as Borrower), 
 AGSTAR FINANCIAL SERVICES, PCA (AS
AGENT), AND 
 THE BANKS 
 Dated to be effective as of December 31, 2010 
  
 AGENT: 
 AGSTAR FINANCIAL SERVICES, PCA, 

as Administrative Agent 
 /s/ Mark Schmidt

 By: Mark Schmidt 
 Its: Vice
President 
  
 AGSTAR, as a Bank 

AGSTAR FINANCIAL SERVICES, PCA, 
  

/s/ Mark Schmidt 
 By: Mark Schmidt

 Its: Vice President 

  
 4 

 SIGNATURE PAGE TO 
 FIRST AMENDMENT TO CREDIT AGREEMENT 
 BY AND AMONG 

GREEN PLAINS CENTRAL CITY LLC (as Borrower), 
 GREEN PLAINS HOLDINGS LLC (as Borrower), 
 AGSTAR FINANCIAL SERVICES, PCA (AS
AGENT), AND 
 THE BANKS 
 Dated to be effective as of December 31, 2010 
  
 1st FARM CREDIT SERVICES, PCA/FLCA, as a Bank 
  

 
 By: Dale A. Richardson 

Its: VP Illinois Capital Markets Group 

  
 5 

 SIGNATURE PAGE TO 
 FIRST AMENDMENT TO CREDIT AGREEMENT 
 BY AND AMONG 

GREEN PLAINS CENTRAL CITY LLC (as Borrower), 
 GREEN PLAINS HOLDINGS LLC (as Borrower), 
 AGSTAR FINANCIAL SERVICES, PCA (AS
AGENT), AND 
 THE BANKS 
 Dated to be effective as of December 31, 2010 
  
 AGCOUNTRY FARM CREDIT SERVICES, FLCA, as a Bank 
 /s/ James F. Baltezore

 By: James F. Baltezore 
 Its:
Vice President 

  
 6 

 SIGNATURE PAGE TO 
 FIRST AMENDMENT TO CREDIT AGREEMENT 
 BY AND AMONG 

GREEN PLAINS CENTRAL CITY LLC (as Borrower), 
 GREEN PLAINS HOLDINGS LLC (as Borrower), 
 AGSTAR FINANCIAL SERVICES, PCA (AS
AGENT), AND 
 THE BANKS 
 Dated to be effective as of December 31, 2010 
  
 AGFIRST FARM CREDIT BANK, as a Bank 
 /s/ Bruce B. Fortner 

By: Bruce B. Fortner 
 Its: Vice President

  
 7 

 SIGNATURE PAGE TO 
 FIRST AMENDMENT TO CREDIT AGREEMENT 
 BY AND AMONG 

GREEN PLAINS CENTRAL CITY LLC (as Borrower), 
 GREEN PLAINS HOLDINGS LLC (as Borrower), 
 AGSTAR FINANCIAL SERVICES, PCA (AS
AGENT), AND 
 THE BANKS 
 Dated to be effective as of December 31, 2010 
  
 BADGERLAND FINANCIAL, ACA, as a Bank 
 /s/ Larry Coulthard 

By: Larry Coulthard 
 Its: VP Loan
Participations & Capital Markets 

  
 8 

 SIGNATURE PAGE TO 
 FIRST AMENDMENT TO CREDIT AGREEMENT 
 BY AND AMONG 

GREEN PLAINS CENTRAL CITY LLC (as Borrower), 
 GREEN PLAINS HOLDINGS LLC (as Borrower), 
 AGSTAR FINANCIAL SERVICES, PCA (AS
AGENT), AND 
 THE BANKS 
 Dated to be effective as of December 31, 2010 
  
 COFINA FINANCIAL, LLC, as a Bank 
  

 
 By: Brian Legried 

Its: President 

  
 9 

 SIGNATURE PAGE TO 
 FIRST AMENDMENT TO CREDIT AGREEMENT 
 BY AND AMONG 

GREEN PLAINS CENTRAL CITY LLC (as Borrower), 
 GREEN PLAINS HOLDINGS LLC (as Borrower), 
 AGSTAR FINANCIAL SERVICES, PCA (AS
AGENT), AND 
 THE BANKS 
 Dated to be effective as of December 31, 2010 
  
 FEDERAL AGRICULTURAL MORTGAGE CORPORATION, as a Bank 
 /s/ David D. Burman

 By: David D. Burman 
 Its:
Director Credit Operations 

  
 10 

 SIGNATURE PAGE TO 
 FIRST AMENDMENT TO CREDIT AGREEMENT 
 BY AND AMONG 

GREEN PLAINS CENTRAL CITY LLC (as Borrower), 
 GREEN PLAINS HOLDINGS LLC (as Borrower), 
 AGSTAR FINANCIAL SERVICES, PCA (AS
AGENT), AND 
 THE BANKS 
 Dated to be effective as of December 31, 2010 
  
 FARM CREDIT SERVICES OF MID-AMERICA, PCA, as a Bank 
 /s/ Mark Strebel

 By: Mark Strebel 
 Its: Credit
Officer 

  
 11 

 SIGNATURE PAGE TO 
 FIRST AMENDMENT TO CREDIT AGREEMENT 
 BY AND AMONG 

GREEN PLAINS CENTRAL CITY LLC (as Borrower), 
 GREEN PLAINS HOLDINGS LLC (as Borrower), 
 AGSTAR FINANCIAL SERVICES, PCA (AS
AGENT), AND 
 THE BANKS 
 Dated to be effective as of December 31, 2010 
  
 FIRST NATIONAL BANK OF OMAHA, as a Bank 
 /s/ Jeremy Reineke 

By: Jeremy Reineke 
 Its: Vice President

  
 12 

 SIGNATURE PAGE TO 
 FIRST AMENDMENT TO CREDIT AGREEMENT 
 BY AND AMONG 

GREEN PLAINS CENTRAL CITY LLC (as Borrower), 
 GREEN PLAINS HOLDINGS LLC (as Borrower), 
 AGSTAR FINANCIAL SERVICES, PCA (AS
AGENT), AND 
 THE BANKS 
 Dated to be effective as of December 31, 2010 
  
 MLIC ASSET HOLDINGS LLC, as a Bank, a Delaware limited liability company 
 By:
TRANSMOUNTAIN LAND & LIVESTOCK COMPANY, a Montana corporation 
 ITS: MANAGER 

 
 /s/ Daniel A. O Neill 

By: Daniel A O Neill 
 Its: Vice President

  
 13 

 SIGNATURE PAGE TO 
 FIRST AMENDMENT TO CREDIT AGREEMENT 
 BY AND AMONG 

GREEN PLAINS CENTRAL CITY LLC (as Borrower), 
 GREEN PLAINS HOLDINGS LLC (as Borrower), 
 AGSTAR FINANCIAL SERVICES, PCA (AS
AGENT), AND 
 THE BANKS 
 Dated to be effective as of December 31, 2010 
  
 UNITED FCS, PCA, as a Bank 
  
 /s/ Jeffrey A. Schmidt 
 By: Jeffrey A. Schmidt 

Its: CCO 

  
 14Third Amendment to the Second Amended and Restated Credit Agreement

 Exhibit 10.36(c) 

THIRD AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT 

This Third Amendment to Second Amended and Restated Credit Agreement (as the same may from time to time be amended,
restated, modified or otherwise supplemented, this “Third Amendment”) is dated this 28th day of February, 2011 by and among Green Plains Grain Company LLC, a Delaware limited liability company (“IA Borrower”), Green Plains Grain Company TN LLC, a Delaware limited liability
company (“TN Borrower”, together with IA Borrower and their successors and assigns, each a “Borrower” and collectively, the “Borrowers”), and First National Bank of Omaha, a national banking
association (together with its successors and assigns, the “Lender”). Capitalized terms used herein and not otherwise defined have the meanings ascribed to them in the Credit Agreement (as defined below). 

RECITALS 

WHEREAS, Borrowers and Lender entered into that certain Second Amended and Restated Credit Agreement dated April 19, 2010, First
Amendment to Second Amended and Restated Credit Agreement dated June 18, 2010 and Second Amendment to Second Amended and Restated Credit Agreement dated November 18, 2010 (as the same may from time to time be amended, restated, modified or
otherwise supplemented, the “Credit Agreement”), pursuant to which Lender agreed to make loans to Borrowers; and 
 WHEREAS, Borrowers and Lender desire to amend and modify certain terms and conditions of the Credit Agreement. 
 NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows: 

AGREEMENT 

1.     Section 1.1 of the Credit Agreement is hereby amended by deleting the definition of
“EBITDAR” in its entirety and substituting the following definition in its place: 
 “EBITDAR” means,
with respect to any date, for the most recently ended four fiscal quarters of Borrowers, the sum of Borrowers’: (a) Net Income for such period; plus (b) any amount which, in the determination of Net Income for such period, has been
deducted for (i) Interest Expense, (ii) provisions for federal, state, local and foreign income taxes, (iii) depreciation, amortization (including, without limitation, amortization of goodwill and other intangible assets), impairment
of goodwill and other non-recurring non-cash charges (excluding any such non-cash charge to the extent that it represents amortization of a prepaid cash expense that was paid in a prior period or an accrual of, or a reserve for, cash charges or
expenses in any future period), (iv) rent and lease expense and (v) unrealized losses on mark-to-market accounting for hedging activities; minus (c) any amount which, in the determination of Net Income for such period, has been added
for (i) interest income, (ii) any non-cash income or non-cash gains, (iii) any extraordinary, unusual or non-recurring income and (iv) unrealized gains on mark-to-market accounting for hedging activities; all as determined in
accordance with GAAP. Solely for purposes of determining compliance with the financial covenant set forth in Section 5.9(e) hereof, EBITDAR shall take into account the TN Acquisitions by including a pro forma addition of one million three
hundred seventeen thousand dollars ($1,317,000) for each of the fiscal quarters of Borrowers ended on September 30, 2009, December 31, 2009, March 31, 2010 and June 30, 2010, to the extent applicable. For the avoidance
of doubt, September 30, 

 
2010 shall be the first fiscal quarter of Borrowers incorporating actual EBITDAR attributable to the TN Acquisitions for purposes of compliance with Section 5.9(e) hereof. Solely for
purposes of determining compliance with the financial covenants set forth in Sections 5.9(c) and (e) hereof, EBITDAR shall include, with respect to any date on or before December 31, 2011, for the most recently ended four fiscal quarters
of Borrowers, any equity capital contributed to Borrowers during such period. For the avoidance of doubt, (a) on and after January 1, 2012, equity capital contributions shall no longer be included in EBITDAR for purposes of determining
compliance with the financial covenants set forth in Sections 5.9(c) and (e) hereof and (b) equity capital contributions shall never be included in EBITDAR for purposes of determining compliance with the financial covenant set forth in
Section 5.9(f) hereof. 
 2.     Section 1.1 of the Credit Agreement is hereby amended by
adding the following definitions in alphabetical order: 
 “Parent Sub Debt – Tranche 1” means unsecured
and subordinated obligations owing to Parent not in excess of eight million four hundred thousand dollars ($8,400,000) in the aggregate at any one time outstanding, evidenced by that certain Loan Agreement dated November 18, 2010 between
Borrowers and Parent and that certain Promissory Note dated November 18, 2010 by Borrowers to the order of Parent. 

“Parent Sub Debt – Tranche 2” means unsecured and subordinated obligations owing to Parent not in excess of ten
million dollars ($10,000,000) in the aggregate at any one time outstanding, evidenced by that certain Loan Agreement dated February 28, 2011 between Borrowers and Parent and that certain Promissory Note dated February 28, 2011 by Borrowers
to the order of Parent. 
 “Parent Sub Debt – Tranche 3” means unsecured and subordinated obligations
owing to Parent not in excess of seventy-five million dollars ($75,000,000) in the aggregate at any one time outstanding, evidenced by that certain Loan Agreement dated February 28, 2011 between Borrowers and Parent and that certain Promissory
Note dated February 28, 2011 by Borrowers to the order of Parent. 
 3.     Section 1.1 of
the Credit Agreement is hereby amended by deleting the definition of “Working Capital” in its entirety and substituting the following definition in its place: 
 “Working Capital” means, with respect to any date, the sum of Borrowers’: (a) current assets; minus (b) current liabilities, all as determined in accordance with GAAP.
Notwithstanding the foregoing, current liabilities shall (a) include the principal amount of any Revolving Credit Loans outstanding, current maturities under the Term Loan Facility and the principal amount of the Parent Sub Debt – Tranche
3 outstanding and (b) exclude the principal amount of the Parent Sub Debt – Tranche 1 and Parent Sub Debt – Tranche 2 outstanding, in each case, in connection with the computation of Working Capital. 

4.     Section 5.9 of the Credit Agreement is hereby amended by adding the following paragraph (f):

 (f)     Borrowers shall maintain EBITDAR equal to or more than: (i) negative six hundred
thousand dollars (-$600,000), determined as of March 31, 2011, for the period from January 1, 2011 through March 31, 2011; and (ii) one million two hundred thousand dollars ($1,200,000), determined as of May 31, 2011, for
the period from January 1, 2011 through May 31, 2011. Notwithstanding the definition of EBITDAR, which contemplates the measurement of EBITDAR on a rolling four quarter basis, solely for purposes of determining compliance with the

 
financial covenant set forth in this Section 5.9(f), EBITDAR shall be measured over the periods set forth in this Section 5.9(f). 

5.     Section 6.1 of the Credit Agreement is hereby amended by deleting Section 6.1 in its entirety
and substituting the following Section 6.1 in its place: 
 6.1   Debt. Borrowers shall not
create, incur, assume or suffer to exist, voluntarily or involuntarily, any Debt, except (a) the Obligations, (b) purchase money obligations, obligations under Capitalized Leases and obligations under operating leases for rolling stock and
equipment in an aggregate amount not to exceed three million dollars ($3,000,000) outstanding at any one time, (c) the Parent Sub Debt – Tranche 1 and Parent Sub Debt – Tranche 2, (d) the Parent Sub Debt – Tranche 3
outstanding on or before August 1, 2011; provided, that the proceeds of the Parent Sub Debt – Tranche 3 shall only be used by Borrowers for financing of inventory, hedging transactions and other working capital matters and
(e) unsecured and subordinated obligations owing to TN Sellers for the purchase price of the TN Acquisitions not in excess of three million three hundred thousand dollars ($3,300,000) in the aggregate at any one time outstanding. No payment of
principal or interest shall be made by Borrowers with respect to the Parent Sub Debt – Tranche 1, Parent Sub Debt – Tranche 2 or Parent Sub Debt – Tranche 3 if an Unmatured Event of Default or Event of Default would occur as a result
of such payment. 
 6.     The form of Compliance Certificate attached to the Credit Agreement as
Exhibit E is hereby amended by deleting such form in its entirety and substituting the form attached hereto as Exhibit A in its place. In addition to its obligations under Section 5.1 of the Credit Agreement, Borrowers shall deliver to
Lender, as soon as available, but in any event within thirty (30) days after the measurement dates set forth in Section 5.9(f) hereof, a Compliance Certificate. 
 7.     Lender hereby agrees to waive compliance with the following provisions of the Credit Agreement for the periods indicated: (a) Section 5.9(c) from October 1,
2010 through December 31, 2010; (b) Section 5.9(e) from October 1, 2010 through December 31, 2010; and (c) Section 6.1 through the date hereof, but only to the extent any such failure to comply with
Section 6.1 on or before the date hereof would not result in a failure to comply with Section 6.1 after the date hereof (due to the amendment of Section 6.1 set forth herein). 

8.     In connection with the execution of this Third Amendment, and as a condition precedent hereto, Borrowers
shall execute and / or deliver to Lender the following on the date hereof: 
  

	 	(a)	A copy of documentation evidencing the Parent Sub Debt – Tranche 1, Parent Sub Debt – Tranche 2 and Parent Sub Debt – Tranche 3, together with a master
subordination agreement related thereto, in form and substance reasonably satisfactory to Lender. 

  

	 	(b)	Such resolutions, certificates, written opinions of Borrowers’ independent counsel and other instruments, documents, agreements, information and reports as may be
reasonably requested by Lender, in form and substance reasonably satisfactory to Lender. 

  

	 	(c)	A modification fee in the amount of fifty three thousand five hundred dollars ($53,500). 

9.     Borrowers shall be responsible for paying all Expenses incurred by Lender in connection with this Third
Amendment pursuant to Section 8.5 of the Credit Agreement. 

 10.     Borrowers hereby represent and warrant that no Event of
Default or Unmatured Event of Default has occurred and continues to exist under the Credit Agreement and the other Loan Documents and that all representations and warranties in the Credit Agreement and the other Loan Documents are reaffirmed to be
true and correct as of the date hereof, which representations and warranties shall survive execution of this Third Amendment. 

11.     Borrowers have previously delivered to Lender all of the relevant organizational and governing documents
and agreements of Borrowers and all such documents and agreements remain in full force and effect and have not been amended or modified since they were delivered to Lender. 
 12.     Except as specifically amended herein, the Credit Agreement shall remain in full force and effect as originally executed. Except for any specific waiver set forth in this
Third Amendment, nothing herein shall be deemed to be a consent to a waiver or amendment of any covenant or agreement contained in the Credit Agreement or the other Loan Documents and all such other covenants and agreements contained in the Credit
Agreement and the other Loan Documents are hereby confirmed and ratified in all respects and shall remain in full force and effect in accordance with their respective terms. 
 13.     This Third Amendment shall be binding on the successors and assigns of the parties hereto. 
 14.     This Third Amendment may be executed in any number of counterparts, each of which when so executed shall be deemed to be an original and all of which when taken together
shall constitute but one and the same agreement. 
 [Signature Page Follows] 

 IN WITNESS WHEREOF, the parties have executed this Third Amendment as of the day and year
first set forth above. 
  

			
	BORROWERS:
	
	Green Plains Grain Company LLC
		
	By:	 	/s/  Todd Becker
		 	Name: Todd Becker
		 	Title:   President and Chief Executive
		 	            Officer
	
	Green Plains Grain Company TN LLC
		
	By:	 	/s/  Todd Becker
		 	Name: Todd Becker
		 	Title:   President and Chief Executive
		 	            Officer
	
	LENDER:
	
	First National Bank of Omaha
		
	By:	 	/s/  Kenneth Feaster
		 	Name: Kenneth Feaster
		 	Title:   Vice President

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