EX-10.20
from 10-K
30 pages
The Purpose of This Letter Agreement (The “Letter Agreement”) Is to Set Forth the Terms and Conditions Pursuant to Which Tndk, LLC, a Delaware Limited Liability Company (“Tndk”), Will Make an Equity Investment of Five Million Dollars ($5,000,000.00) (The “Tndk Investment”) in Nedak Ethanol, LLC (“Nedak”) in Exchange for Five Hundred (500) of the Class B Preferred Membership Units in Nedak (The “Class B Units”) as Described in That Certain Private Placement Memorandum Dated April 7, 2011, as Supplemented July 20, 2011 and December 23, 2011 (Collectively, the “Ppm”), and to Set Forth Certain Other Agreements Between Nedak and Tndk Related to the Potential Tndk Investment
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EX-10
from 8-K
1 page
Promissory Note $ 5,000,000 Atkinson, Nebraska April 8, 2008 for Value Received, the Undersigned, Nedak Ethanol, LLC ("Nedak" or "Maker") Hereby Promises to Pay to the Order of Delta-T Corporation (Together With Its Successors and Assigns, "Delta-T"), the Sum of Five Million Dollars and 00/100 ($5,000,000), Six Months After the Date of Final Completion of the Ethanol Production Facility as Determined by the Engineering, Procurement and Construction Services Fixed Price Contract, Dated August 9, 2006 ("Epc Contract") Between Nedak and Delta-T. 1. Prepayment. Maker Reserves the Right to Prepay All or Any Portion of This Promissory Note at Any Time and From Time to Time Without Premium or Penalty of Any Kind. 2. Payment. Payment Shall Be Made in Lawful Currency of the United States of America to Delta-T. Payments Shall Be Made in Accordance With Amendment No. 3 to the Epc Contract; $2 Million Within Three (3) Business Days of Performance Test Acceptance and the Remaining $3 Million on or Before Six (6) Months After Performance Test Acceptance. 3. Reference to Other Agreements. This Promissory Note Is Made Pursuant to Amendment No. 3 to Epc Contract. 4. Assignment. the Rights and Obligations of Maker Shall Be Binding Upon and Benefit the Successors, Assigns, Heirs, Administrators and Transferees of the Delta-T; Provided, However, That the Maker May Not Assign Their Obligations or Otherwise Encumber This Promissory Note Without the Prior Written Consent of Delta-T. 5. Governing Law. This Promissory Note Shall Be Governed by and Construed and Enforced in Accordance With the Laws of the State of Nebraska. Any Suit to Enforce This Promissory Note Shall Be Brought in Nebraska. in Witness Whereof, the Undersigned Has Duly Caused This Promissory Note to Be Executed and Delivered at the Place Specified Above and as of the 8th Day of April, 2008. Nedak Ethanol, LLC By: /S/ Jerome Fagerland Name: Jerome Fagerland Title: Pres. - Gen. Mngr. Date: 4/10/08
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