SEC Contract Filing

Filing Date: 2017-08-11

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>paceth_8k-ex1001.htm
<DESCRIPTION>AMENDMENT NO. 2 TO CREDIT AGREEMENT
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<P STYLE="margin: 0 0 0pt">Exhibit 10.1</P>

<P STYLE="margin: 0 0 0pt"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-transform: uppercase; text-align: center">AMENDMENT
NO. 2<BR>
<BR>
TO<BR>
<BR>
CREDIT AGREEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0.5in">THIS AMENDMENT NO.
2 TO CREDIT AGREEMENT, dated as of August 7, 2017 (this &ldquo;<B>Agreement</B>&rdquo;), is entered into by and between <FONT STYLE="text-transform: uppercase">PACIFIC
ETHANOL PEKIN, llc</FONT>, a limited liability company organized and existing under the laws of Delaware (&ldquo;<B>Company</B>&rdquo;),
<FONT STYLE="text-transform: uppercase">COMPEER FINANCIAL, PCA</FONT>, a federally-chartered instrumentality of the United States,
successor by merger to 1<SUP>st</SUP> Farm Credit Services, PCA (&ldquo;<B>Lender</B>&rdquo;), and <FONT STYLE="text-transform: uppercase">CoBank,
ACB</FONT>, a federally-chartered instrumentality of the United States (&ldquo;<B>CoBank</B>&rdquo; or &ldquo;<B>Agent</B>&rdquo;).
Capitalized terms not defined herein shall have the meanings set forth in the Existing Credit Agreement.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-transform: uppercase; text-align: center">BACKGROUND:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>,
the Company, Lender and CoBank have entered into that certain Credit Agreement dated as of December 15, 2016 (as amended, restated,
modified or otherwise supplemented from time to time, collectively the &ldquo;<B>Existing Credit Agreement</B>&rdquo;), and the
other Loan Documents;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>,
the Company has requested that, as of the Effective Date, the Existing Credit Agreement be amended as herein provided; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>,
CoBank is willing, subject to the terms and conditions hereinafter set forth, to make such amendments;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0.5in"><B>NOW, THEREFORE</B>,
in consideration of the agreements herein contained, the parties hereby agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"> <FONT STYLE="font-family: Times New Roman, Times, Serif">ARTICLE</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif">1<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT></FONT>Definitions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify; text-indent: 0.5in">1.1<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B>Certain Definitions</B>. The following terms when used in the Agreement shall have the following meanings:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&ldquo;<B>Agreement</B>&rdquo; is defined
in the preamble to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&ldquo;<B>CoBank</B>&rdquo; is defined
in the preamble to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&ldquo;<B>Company</B>&rdquo; is defined
in the preamble to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&ldquo;<B>Effective Date</B>&rdquo;
is defined in Article 4.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&ldquo;<B>Existing Credit Agreement</B>&rdquo;
is defined in the first recital to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">&ldquo;<B>First Amended and Restated
Revolving Term Note</B>&rdquo