Ethanol Grain Processors, LLC Watch

from POS AM 6 pages The Loan Documentation Process Will Include Execution of an Agreement Between Farm Credit Services of Mid-America and Cobank, Whereby All Rights and Obligations Associated With the Administration and Servicing of the Loan Commitments Are Documented as Being the Responsibility of Cobank. the Process of Preparing and Seeking Execution of This Agreement, as Well as the Participation Agreements Between Cobank and All Lenders Will Be Completed Simultaneously With the Process of Preparing and Negotiating the Lending Agreements Borrower: Ethanol Grain Processors, LLC, a Tennessee Limited Liability Company (Borrower or Company) Purpose: To Finance Construction of a 100 Million Gallon (Minimum) Annual Capacity Dry-Mill Ethanol Production Facility Near Obion, Tennessee and to Provide Funding for Working Capital Purposes. Production Facility Is to Be in Production by No Later Than October 31, 2008. Project Cost: Not to Exceed an Aggregate $144,000,000 for All Direct Construction-Related Costs, Contingencies, Capitalized Interest, Costs to Organize, Financing Costs, and Pre-Production Period Expenses. This Amount Specifically Excludes Funding for Working Capital Purposes. Proposed Term Financing: Aggregate Term Financing of $90,000,000 in Senior Secured Debt Is Proposed. to Provide Cash Management Flexibility, This Amount Will Include a $60,000,000 Term Loan and a $30,000,000 Revolving Term Loan