SEC Contract Filing

Filing Date: 2021-03-25

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>4
<FILENAME>hlb-20210324xex10d2.htm
<DESCRIPTION>EX-10.2
<TEXT>
<!--Enhanced HTML document created with Toppan Merrill Bridge 9.9.1.77--><!--Created on: 3/25/2021 07:58:39 PM (UTC)--><!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head><meta charset="UTF-8"><title></title></head><body><div style="margin-top:30pt;"></div><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="margin-top:30pt;width:100%;"><p style="font-family:'Calibri','Helvetica','sans-serif';font-size:11pt;line-height:1.28;text-align:right;margin:0pt 0pt 8pt 0pt;"><font style="font-family:'Times New Roman','Times','serif';font-size:10pt;visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;font-weight:bold;text-align:center;margin:5pt 0pt 5pt 0pt;"><b style="font-size:16pt;font-weight:bold;"><a name="a120704"></a></b>VOTING AGREEMENT</p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;text-indent:36pt;margin:5pt 0pt 5pt 0pt;">This Voting Agreement (this &quot;<b style="font-weight:bold;">Agreement</b>&quot;), dated as of March 24, 2021, is entered into by and between Granite Falls Energy, LLC, a Minnesota limited liability company (&quot;<b style="font-weight:bold;">Member</b>&quot;), and Heron Lake BioEnergy, LLC, a Minnesota limited liability company (the &quot;<b style="font-weight:bold;">Company</b>&quot;). Member and the Company are each sometimes referred to herein individually as a &quot;<b style="font-weight:bold;">Party</b>&quot; and collectively as the &quot;<b style="font-weight:bold;">Parties.</b>&quot;</p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;text-indent:36pt;margin:5pt 0pt 5pt 0pt;">WHEREAS, concurrently with the execution of this Agreement, the Company and Member have entered into a merger agreement providing for Member&#8217;s acquisition of the Company by merger (the &quot;<b style="font-weight:bold;">Merger Agreement</b>&quot;), providing for, among other things, the merger of Member&#8217;s wholly-owned subsidiary (&#8220;<b style="font-weight:bold;">Merger Sub</b>&#8221;) with and into the Company (the &quot;<b style="font-weight:bold;">Merger</b>&quot;) pursuant to the terms and conditions of the Merger Agreement;</p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;text-indent:36pt;margin:5pt 0pt 5pt 0pt;">WHEREAS, in order to induce the Company to enter into the Merger Agreement, Member is willing to make certain representations, warranties, covenants, and agreements as set forth in this Agreement with respect to the units of membership interest of the Company (&quot;<b style="font-weight:bold;">Company Interest</b>&quot;) Beneficially Owned by Member and set forth below Member&#39;s signature on the signature page hereto (the &quot;<b style="font-weight:bold;">Original Units</b>&quot; and, together with any additional units of Company Interest pursuant to Section 6 hereof, the &quot;<b style="font-weight:bold;">Units</b>&quot;); and</p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;text-indent:36pt;margin:5pt 0pt 5pt 0pt;">WHEREAS, as a condition to its willingness to enter into the Merger Agreement, the Company has required that Member, and Member has agreed to, execute and deliver this Agreement.</p><p style="font-family:'Times New Roman','Times','serif';font-size:11pt;text-align:justify;text-indent:36pt;margin:5pt 0pt 5pt 0pt;">NOW, THEREFORE, in consideration of the foregoing and the respective representations, warranties, covenants, and agreements set forth below and for other good and valuable consideration, the receipt, sufficiency, and adequacy of which are hereby acknowledged, the Parties hereto, intending to be legally bound, do hereby agree as follows:</p><div style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:5pt;margin-left:0pt;margin-top:5pt;text-align:justify;text-indent:36pt;"><font style="display:inline-block;font-family:'Times New Roman';font-weight:bold;min-width:36pt;text-indent:0pt;white-space:nowrap;">1.</font><a name="a394067"></a><b style="background-color:#ffffff;font-size:11pt;font-weight:bold;text-decoration:underline;text-decoration-color:#000000;">Definitions</b><b style="font-size:11pt;font-weight:bold;">.</b><a name="a547705"></a><b style="font-size:11pt;font-weight:bold;"> </b><font style="font-size:11pt;">When used in this Agreement, the following terms in all of their tenses, cases, and correlative forms shall have the meanings assigned to them in this </font><font style="font-size:11pt;">Section </font><font style="font-size:11pt;">1</font><font style="font-size:11pt;">.</font></div><div style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin-bottom:5pt;margin-left:36pt;margin-top:5pt;text-align:justify;text-indent:36pt;"><font style="display:inline-block;font-family:'Times New Roman';min-width:36pt;text-indent:0pt;white-space:nowrap;">(a)</font><a name="a341356"></a><font style="font-size:11pt;">&#8220;</font><b style="font-size:11pt;font-weight:bold;">Beneficially Own</b><font style="font-size:11pt;">&#8221; or &#8220;</font><b style="font-size:11pt;font-weight:bold;">Beneficial Ownership</b><font style="font-size:11pt;">&#8221; has the meaning assigned to such term in Rule 13d-3 under the Exchange Act of 1934, and a person&#8217;s beneficial ownership of securities shall be calculated in accordance with the provisions of such rule (in each case, irrespective of whether or not such rule is actually applicable in such circumstance). &#160;For the avoidance of doubt, &quot;Beneficially Own&quot; and &quot;Beneficial Ownership&quot; shall also include record ownership of securities.</fon