Exhibit 4(a)
SEVENTH AMENDMENT TO CONSTRUCTION
AND TERM
LOAN AGREEMENT
THIS SEVENTH AMENDMENT TO
CONSTRUCTION AND TERM LOAN AGREEMENT (this " Amendment "),
dated as of September 4, 2009, is executed by and among
LEVELLAND/HOCKLEY COUNTY ETHANOL, LLC, a Texas limited liability
company (the " Borrower "), each of the Lenders or other
lending institutions which is a signatory hereto or any successor
or assignee thereof, and GE BUSINESS FINANCIAL SERVICES INC. (in
its capacity as administrative agent for the Lenders, together with
its successors in such capacity, the " Administrative Agent
").
R E C I T A L S:
A. The
Borrower, the Lenders, and the Administrative Agent are parties to
that certain Construction and Term Loan Agreement, dated as of
September 27, 2006, as amended by (a) that certain First
Amendment to Construction and Term Loan Agreement and other Loan
Documents dated as of August 10, 2007, (b) that certain
Second Amendment to Construction and Term Loan Agreement dated as
of February 15, 2008, (c) that certain Third Amendment to
Construction and Term Loan Agreement dated as of February 19,
2008, (d) that certain Fourth Amendment to Construction and
Term Loan Agreement dated as of May 31, 2008, (e) that
certain Fifth Amendment to Construction and Term Loan Agreement
dated as of May 31, 2008, and (f) that certain Sixth
Amendment to Construction and Term Loan Agreement dated as of
January 29, 2009 (as has been and may be amended, modified,
supplemented or restated from time to time, the " Loan
Agreement ").
B. The
Borrower, the Administrative Agent and the Required Lenders desire
to amend the Loan Agreement and agree to the other matters as
described herein, subject to the terms and conditions contained
herein.
NOW, THEREFORE, in consideration of
the premises herein contained and other good and valuable
consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows intending to be
legally bound:
ARTICLE I
Definitions
Section
1.1
Definitions . Capitalized terms used in this Amendment, to
the extent not otherwise defined herein, shall have the same
meanings as in the Loan Agreement, as amended hereby.
ARTICLE II
Amendments and
Agreements
Section
2.1 Amendment to
"Calculation Start Date" Definition . The definition of
"Calculation Start Date" found in Section 1.1 of the Loan
Agreement is amended and restated in its entirety to read as
follows:
" Calculation Start Date "
means July 1, 2009.
Section
2.2 EBITDAR Coverage
Ratio . Section 6.10(a) of the Loan Agreement is amended by
adding the following sentence thereto:
For clarity and avoidance of doubt,
prior to the end of the Borrower's second quarter in fiscal year
2010, the term "annualized" means for the third quarter of fiscal
year 2009, the applicable financial information for such quarter
times four; for the fourth quarter of fiscal year 2009, the
applicable financial information for such quarter and for the prior
quarter times two; and for the first quarter of fiscal year 2010,
the applicable financial information for such quarter and the two
prior quarters times 1.33.
Section
2.3 Leverage Ratio
. Section 6.10(b) of the Loan Agreement is hereby amended and
restated in its entirety to read as follows:
"(b)
Leverage Ratio . Beginning April 1, 2010,