SEC Contract Filing

Filing Date: 2018-03-21

Document Content:
<DOCUMENT>
<TYPE>EX-10.9
<SEQUENCE>3
<FILENAME>sdspexhibit10920171231.htm
<DESCRIPTION>EXHIBIT 10.9
<TEXT>
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<div><a name="s28d6862f40664d10ac010c34c5793df8"></a></div><div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Exhibit 10.9</font></div></div><div><br></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Loan No. 18462590S01-B</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">AMENDED AND RESTATED MONITORED REVOLVING CREDIT PROMISSORY NOTE</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">THIS AMENDED AND RESTATED MONITORED REVOLVING CREDIT PROMISSORY NOTE </font><font style="font-family:Arial;font-size:10pt;">(this &#8220;</font><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Promissory Note</font><font style="font-family:Arial;font-size:10pt;">&#8221;) to the Credit Agreement dated December 28, 2016 (such agreement, as may be amended, hereinafter referred to as the &#8220;</font><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Credit Agreement</font><font style="font-family:Arial;font-size:10pt;">&#8221;), is entered into as of February 27, 2018 between </font><font style="font-family:Arial;font-size:10pt;font-weight:bold;">COBANK, ACB, </font><font style="font-family:Arial;font-size:10pt;">a federally-chartered instrumentality of the United States (&#8220;</font><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Lender</font><font style="font-family:Arial;font-size:10pt;">&#8221;) and </font><font style="font-family:Arial;font-size:10pt;font-weight:bold;">SOUTH DAKOTA SOYBEAN PROCESSORS, LLC</font><font style="font-family:Arial;font-size:10pt;">, Volga, South Dakota, a limited liability company (together with its permitted successors and assigns, the &#8220;</font><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Borrower</font><font style="font-family:Arial;font-size:10pt;">&#8221;). Capitalized terms not otherwise defined in this Promissory Note will have the meanings set forth in the Credit Agreement.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">RECITALS</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-left:0px;text-align:justify;text-indent:48px;"><font style="text-align:justify;font-family:Arial;font-size:10pt;font-weight:bold;padding-right:48px;">(A)</font><font style="font-family:Arial;font-size:10pt;">This Promissory Note amends, restates, replaces and supersedes, but does not constitute payment of the indebtedness evidenced by, the promissory note set forth in the Amended and Restated Monitored Revolving Credit Promissory Note numbered 18462590S01-A, dated as of September 21, 2017 between Lender and the Borrower.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">SECTION 1.</font><font style="font-family:Arial;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:Arial;font-size:10pt;font-weight:bold;">MONITORED REVOLVING CREDIT COMMITMENT. </font><font style="font-family:Arial;font-size:10pt;">On the terms and conditions set forth in the Credit Agreement and this Promissory Note, Lender agrees to make loans to the Borrower in an aggregate principal amount not to exceed, at any one time outstanding, the following amounts during each commitment period (the &#8220;</font><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Commitment</font><font style="font-family:Arial;font-size:10pt;">&#8221;); provided, however that the amount available under the Commitment will not exceed the &#8220;</font><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Borrowing Base</font><font style="font-family:Arial;font-size:10pt;">&#8221; (as calculated pursuant to the Borrowing Base Report attached hereto as Exhibit A) on the date for which Borrowing Base Reports are required as set forth below. Within the limits of the Commitment, the Borrower may borrow, repay and re-borrow.</font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br></font></div><div style="line-height:120%;text-align:justify;padding-left:0px;text-indent:0px;font-size:10pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;p