Cardinal ethanol, llc private company information – bloomberg gas in back trapped

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Cardinal Ethanol, LLC produces and sells fuel-grade ethanol, distillers grains, corn oil, and carbon dioxide in the continental United States. The company’s ethanol is used as an octane enhancer in fuels; an oxygenated fuel additive for reducing ozone and carbon monoxide emissions; and a non-petroleum-based gasoline substitute. Its distillers grains are used as animal feed supplement for dairy, beef, poultry, and swine industries; corn oil is used as a feedstock to produce biodiesel, as a feed ingredient, and for other industrial uses; and carbon dioxide is used for the production of carbon dioxide gas. The company sells its products directly, as well as through third party brokers. The comp…

Cardinal Ethanol, LLC produces and sells fuel-grade ethanol, distillers grains, corn oil, and carbon dioxide in the continental United States. The company’s ethanol is used as an octane enhancer in fuels; an oxygenated fuel additive for reducing ozone and carbon monoxide emissions; and a non-petroleum-based gasoline substitute. Its distillers grains are used as animal feed supplement for dairy, beef, poultry, and swine industries; corn oil is used as a feedstock to produce biodiesel, as a feed ingredient, and for other industrial uses; and carbon dioxide is used for the production of carbon dioxide gas. The company sells its products directly, as well as through third party brokers. The company was formerly known as Indiana Ethanol, LLC and changed its name to Cardinal Ethanol, LLC in September 2005. Cardinal Ethanol, LLC was founded in 2005 and is based in Union City, Indiana.

Cardinal Ethanol, LLC and its primary lender, First National Bank of Omaha, executed a Thirteenth Amendment of First Amended and Restated Construction Loan Agreement to be effective as of February 28, 2018, which amends the First Amended and Restated Construction Loan Agreement dated June 10, 2013. The primary purposes of the Amendment were to extend the termination date of the Revolving Credit Loan from February 28, 2018 to February 28, 2019 and to modify the definition of "Borrowing Base" to include soybean inventory. In consideration of the amendments of the Loan Agreement set out below, the mutual covenants herein and other good and valuable consideration, the sufficiency and receipt of which is hereby acknowledged, the parties agree to amend the Loan Agreement as follows: Capitalized terms used in this Amendment which are defined in the Loan Agreement shall have the meanings given to them in the Loan Agreement, as such definitions may be amended by this Amendment. The defined term "Termination Date" in Section 1.01 of the Loan Agreement is hereby amended by deleting the reference to February 28, 2018 as the Termination Date of the Revolving Credit Loan and inserting in lieu thereof February 28, 2019. The defined term "Borrowing Base" in Section 1.01 of the Loan Agreement is hereby deleted in its entirety and the following is inserted in lieu thereof: "Borrowing Base" means, at any time, an amount equal to the sum of (without duplication). Except as modified in this Amendment, all other terms, provisions, conditions and obligations imposed under the terms of the Loan Agreement and the other Loan Documents shall remain in full force and effect and are hereby ratified, affirmed, and certified by Borrower and Lender. Borrower hereby ratifies and affirms the accuracy and completeness of all representations and warranties contained in the Loan Documents. Borrower represents and warrants to the Lender that the representations and warranties set forth in the Loan Agreement, and each of the other Loan Documents, are true and complete on the date hereof as if made on and as of the date hereof, and as if each reference in the Loan Agreement to "this Agreement" included references to this Amendment. Borrower represents, warrants, and confirms to the Lender that no Default or Events of Default is now existing under the Loan Documents and that no event or condition exists which would constitute a Default or an Event of Default under the Loan Agreement or any other Loan Document. Nothing contained in this Amendment either before or after giving effect thereto, will cause’or trigger a Default or an Event of Default under any Loan Document. To the extent necessary, the Loan Documents are hereby amended consistent with the amendments provided for in this Amendment. This Amendment may be executed in any number of counterparts, each of which when so executed and delivered shall be deemed to be an original and all of which counterparts, taken together, shall constitute but one and the same instrument. This Amendment shall be governed by and construed in accordance with the laws of the State of Nebraska, exclusive of its choice of laws rules. The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided in this Amendment, operate as a waiver of any right, power or remedy of the Lender under any of the Loan Documents, nor, except as expressly provided in this Amendment, constitute a waiver or amendment of any provision of any of the Loan Documents.