PACIFIC ETHANOL, INC. (NASDAQ:PEIX) Files An 8-K Entry into a Material Definitive AgreementItem 1.01.
On September 15, 2017, ICP entered into a Security Agreement dated September 15, 2017 in favor of the Agent. The Security Agreement grants the Agent a security interest in all of ICP’s personal property. The security interest secures all of ICP’s obligations to the Lender and Agent, including under the Credit Agreement, Term Note and Revolving Term Note.
The Security Agreement also contains numerous customary representations, warranties, covenants and other customary terms and conditions.
The description of the Security Agreement does not purport to be complete and is qualified in its entirety by reference to the Security Agreement, which is filed as Exhibit 10.5 to this report and is incorporated herein by this reference.
| Item 2.03 | Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
(a)On September 15, 2017, ICP, Lender and Agent entered into a Credit Agreement; ICP executed a Term Note and Revolving Term Note in favor of the Lender; ICP entered into an Illinois Future Advance Real Estate Mortgage in favor of the Agent; and ICP entered into a Security Agreement in favor of the Agent, all dated September 15, 2017, and all as described under Item 1.01. The disclosures contained above under Item 1.01 are incorporated herein by reference.
(b)Not applicable.
| Item 9.01. | Financial Statements and Exhibits. |
(d)Exhibits.
| (*) | Filed herewith. All of the agreements filed as exhibits to this report contain representations and warranties made by the parties thereto. The assertions embodied in such representations and warranties are not necessarily assertions of fact, but a mechanism for the parties to allocate risk. Accordingly, investors should not rely on the representations and warranties as characterizations of the actual state of facts or for any other purpose at the time they were made or otherwise. |
Pacific Ethanol, Inc. ExhibitEX-10.1 2 paceth_ex1001.htm CREDIT AGREEMENT Exhibit 10.1 CREDIT AGREEMENT by and between ILLINOIS CORN PROCESSING,…To view the full exhibit click here