<SEC-DOCUMENT>0001654954-18-013728.txt : 20181207
<SEC-HEADER>0001654954-18-013728.hdr.sgml : 20181207
<ACCEPTANCE-DATETIME>20181207164049
ACCESSION NUMBER:		0001654954-18-013728
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		8
CONFORMED PERIOD OF REPORT:	20181203
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20181207
DATE AS OF CHANGE:		20181207

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AEMETIS, INC
		CENTRAL INDEX KEY:			0000738214
		STANDARD INDUSTRIAL CLASSIFICATION:	INDUSTRIAL ORGANIC CHEMICALS [2860]
		IRS NUMBER:				261407544
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36475
		FILM NUMBER:		181223994

	BUSINESS ADDRESS:	
		STREET 1:		20400 STEVENS CREEK BLVD
		STREET 2:		SUITE 700
		CITY:			CUPERTINO
		STATE:			CA
		ZIP:			95014
		BUSINESS PHONE:		408-517-3304

	MAIL ADDRESS:	
		STREET 1:		20400 STEVENS CREEK BLVD
		STREET 2:		SUITE 700
		CITY:			CUPERTINO
		STATE:			CA
		ZIP:			95014

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AE BIOFUELS, INC.
		DATE OF NAME CHANGE:	20110714

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AE Biofuels, Inc.
		DATE OF NAME CHANGE:	20071212

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MARWICH II LTD
		DATE OF NAME CHANGE:	19840123
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>amtx_8k.htm
<DESCRIPTION>CURRENT REPORT
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UNITED STATES</font></div>
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SECURITIES AND EXCHANGE COMMISSION</font></div>
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FORM&#xA0;8-K</font></div>
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CURRENT REPORT</font></div>
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Pursuant to Section&#xA0;13 OR 15(d)&#xA0;of the Securities
Exchange Act of 1934</font></div>
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Date of Report (Date of earliest event
reported):&#xA0;</font><font style="font-weight: bold; color: #000000">December 3,
2018</font></font></div>
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Aemetis, Inc.</font></div>
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(Exact name of registrant as specified in its charter)</font></div>
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Nevada</font></div>
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000-51354</font></div>
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26-1407544</font></div>
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incorporation)</font></div>
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No.)</font></div>
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20400 Stevens Creek Blvd., Suite 700</font></div>
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Cupertino, CA 95014</font></div>
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(408) 213-0940</font></div>
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<font style="color: #000000">Item 1.01</font> <font style="font-style: italic; color: #000000">Entry into a Material
Definitive Agreement.</font></font></div>
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<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
On December 3, 2018, Aemetis Property Keyes, Inc.
(&#x201C;APKI&#x201D;), a wholly owned subsidiary of Aemetis, Inc.
(the &#x201C;Registrant&#x201D;), borrowed funds for the purchase of
approximately 5.4 acres of land adjoining its ethanol plant in
Keyes, CA to be used for the construction of a facility to convert
gaseous CO</font><font style="font-size: 70%; vertical-align: bottom; color: #000000">2</font>
<font style="color: #000000">produced at the Keyes ethanol plant to
liquid CO</font><font style="font-size: 70%; vertical-align: bottom; color: #000000">2</font><font style="color: #000000">.
In connection with such land purchase, Goodland Advanced Fuels,
Inc. (the &#x201C;Borrower&#x201D;) entered into Amendment No. 2
(&#x201C;Amendment No. 2&#x201D;) to the Note Purchase Agreement,
dated July 10, 2017 (the &#x201C;Original Note Purchase
Agreement&#x201D;, as amended by Amendment No. 1 to Note Purchase
Agreement dated June 28, 2018 (&#x201C;Amendment No. 1&#x201D;), and,
as further amended by Amendment No. 2, the &#x201C;NPA&#x201D;) by
and among Borrower, Third Eye Capital Corporation
(&#x201C;Agent&#x201D;), the noteholders party thereto (the
&#x201C;Noteholders&#x201D;), with the Registrant and its wholly
owned subsidiaries Aemetis Advanced Product Keyes, Inc.
(&#x201C;AAPK&#x201D; and together with the Registrant, the
&#x201C;Existing Guarantors&#x201D;), APKI and Aemetis Advanced Fuels
Keyes, Inc. (&#x201C;AEFK&#x201D; and together with APKI, the
&#x201C;New Guarantors&#x201D;) as guarantors, in order to (i)
provide funding for APKI to purchase such land and to undertake
certain related commercial arrangements with third parties and (ii)
fund other capital expenditures and approved working capital
expenditures related to the construction of the
CO</font><font style="font-size: 70%; vertical-align: bottom; color: #000000">2</font>
<font style="color: #000000">conversion facility at the Keyes
ethanol plant.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Pursuant to Amendment No. 2, the NPA was amended to provide for an
additional term loan in the amount of $3,500,000 (the
&#x201C;Additional Term Loan&#x201D;) and accruing interest at an
interest rate per annum of ten percent. Amendment No. 2 also
included, among other terms, amendments relating to certain
financial covenants, interest payment calculations and mandatory
repayment of the Additional Term Loan.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
In consideration of the direct and indirect benefits derived by the
Existing Guarantors and the New Guarantors from the transactions
contemplated by Amendment No. 2, the Existing Guarantors entered
into the Second Amended and Restated Limited Guaranty, dated as of
December 3, 2018 (the &#x201C;Second A&amp;R Limited
Guaranty&#x201D;), and each of APKI and AEFK entered into a limited
guaranty in favor of the Agent (such limited guaranty made by APKI,
the &#x201C;APKI Guaranty&#x201D; and such limited guaranty made by
AEFK, the &#x201C;AEFK Guaranty&#x201D;) to&#xA0;guarantee all
obligations and liabilities of the Borrower under the NPA,
including the Additional Term Loan. Such obligations are secured by
a first priority lien over all assets of the Registrant, AAPK and
APKI pursuant to separate general security agreements entered into
by the Registrant, AAPK and APKI (such general security agreement
entered into by the Registrant, the &#x201C;Registrant Security
Agreement&#x201D;, such general security agreement entered into by
AAPK, the &#x201C;AAPK Security Agreement&#x201D; and such security
agreement entered into by APKI, the &#x201C;APKI Security
Agreement&#x201D;).</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
The Borrower and APKI also entered into a separate Intercompany
Revolving Promissory Note, dated December 3, 2018 (the &#x201C;APKI
Intercompany Revolving Note&#x201D;), pursuant to which the Borrower
may, from time to time, lend substantially all of the Additional
Term Loan to APKI.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
On December 3, 2018, AE Advanced Fuels, Inc. (&#x201C;AEFI&#x201D;),
a wholly owned subsidiary of the Registrant, also entered into a
Pledge Agreement (the &#x201C;AEFI Pledge Agreement&#x201D;) with
Agent in connection with Amendment No. 2, pursuant to which AEFI
pledged and granted a security interest in all of the shares of
stock of APKI held by AEFI to Agent.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
As consideration for the extension of the Additional Term Loan by
Agent and the Noteholders, Borrower agreed to pay Agent an
amendment fee in the amount of $175,000.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; background-color: #FFFFFF; font-family: Times New Roman; font-size: 13px">
The foregoing descriptions of the Original Note Purchase Agreement,
Amendment No. 1, Amendment No. 2, the Second A&amp;R Limited
Guaranty, the Registrant Security Agreement, the AAPK Security
Agreement, the APKI Guaranty, the AEFK Guaranty, the APKI Security
Agreement, the APKI Intercompany Revolving Note and the AEFI Pledge
Agreement are qualified in their entirety by reference to the
Original Note Purchase Agreement, Amendment No. 1, Amendment No. 2,
the Second A&amp;R Limited Guaranty, the Registrant Security
Agreement, the AAPK Security Agreement, the APKI Guaranty, the AEFK
Guaranty, the APKI Security Agreement, the APKI Intercompany
Revolving Note and the AEFI Pledge Agreement attached hereto as
Exhibit 10.1, Exhibit 10.2, Exhibit 10.3, Exhibit 10.4, Exhibit
10.5, Exhibit 10.6, Exhibit 10.7, Exhibit 10.8, Exhibit 10.9,
Exhibit 10.10 and Exhibit 10.11 respectively, which are
incorporated herein by reference.</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
<font style="color: #000000">Item 2.03</font> <font style="font-style: italic; color: #000000">Creation of a Direct Financial
Obligation.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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<font style="color: #000000; background-color: #FFFFFF; font-family: Times New Roman; font-size: 13px">
The disclosure contained in Item 1.01 is incorporated herein by
reference.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
<font style="color: #000000">Item 9.01.</font> <font style="font-style: italic; color: #000000">Financial Statements and
Exhibits.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 36px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">(d)
Exhibits.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div>
<table cellpadding="0" cellspacing="0" style="width: 100%; font-family: Times New Roman; font-size: 13px">
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<td style="vertical-align: bottom; width: 25%">
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<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
EXHIBIT&#xA0;NUMBER</font></div>
</td>
<td style="vertical-align: bottom; width: 1%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 74%">
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<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
DESCRIPTION</font></div>
</td>
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<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 1%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 74%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 25%">
<div style="text-align: center; margin-left: 0px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Exhibit <a href="http://www.sec.gov/Archives/edgar/data/738214/000165495417006445/amtx_ex102.htm">
10.1</a></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 1%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 74%">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Note
Purchase Agreement, by and among Goodland Advanced Fuels, Inc.,
Third Eye Capital Corporation and the noteholders made a party
thereto from time to time, dated July 10, 2017. (Filed as an
exhibit to Form 8-K on July 14, 2017 and incorporated by reference
herein.)</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 25%">
<div style="text-align: center; margin-left: 0px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Exhibit <a href="http://www.sec.gov/Archives/edgar/data/738214/000165495418009661/amtx_ex102.htm">
10.2</a></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 1%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 74%">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Amendment
No. 1 to Note Purchase Agreement by and among Goodland Advanced
Fuels, Inc., Third Eye Capital Corporation and the noteholders made
a party thereto from time to time, dated June 28, 2018. (Filed as
an exhibit to Form 8-K on August 29, 2018 and incorporated by
reference herein.)</font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 25%">
<div style="text-align: center; margin-left: 0px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Exhibit <a href="amtx_ex103.htm">10.3</a></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><br></font></div>
</td>
<td style="vertical-align: bottom; width: 1%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 74%">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Amendment
No. 2 to Note Purchase Agreement by and among Goodland Advanced
Fuels, Inc., Third Eye Capital Corporation and the noteholders made
a party thereto from time to time, dated December 3,
2018.</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 25%">
<div style="text-align: center; margin-left: 0px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Exhibit <a href="amtx_ex104.htm">10.4</a></font></div>
</td>
<td style="vertical-align: bottom; width: 1%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 74%">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Second
Amended and Restated Limited Guaranty, by and among Aemetis, Inc.,
Aemetis Advanced Products Keyes, Inc. and Third Eye Capital
Corporation, dated December 3, 2018.</font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 25%">
<div style="text-align: center; margin-left: 0px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Exhibit <a href="http://www.sec.gov/Archives/edgar/data/738214/000165495417006445/amtx_ex103.htm">
10.5</a></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 1%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 74%">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">General
Security Agreement, by and between Aemetis, Inc., the other
grantors from time to time party thereto and Third Eye Capital
Corporation, dated July 10, 2017. (Filed as an exhibit to Form 8-K
on July 14, 2017 and incorporated by reference
herein.)</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 25%">
<div style="text-align: center; margin-left: 0px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Exhibit <a href="http://www.sec.gov/Archives/edgar/data/738214/000165495417006445/amtx_ex104.htm">
10.6</a></font></div>
</td>
<td style="vertical-align: bottom; width: 1%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 74%">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">General
Security Agreement by and between Aemetis Advanced Products Keyes,
Inc., the other grantors from time to time party thereto and Third
Eye Capital Corporation, dated July 10, 2017. (Filed as an exhibit
to Form 8-K on July 14, 2017 and incorporated by reference
herein.)</font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 25%">
<div style="text-align: center; margin-left: 0px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Exhibit <a href="amtx_ex107.htm">10.7</a></font></div>
</td>
<td style="vertical-align: bottom; width: 1%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 74%">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Limited
Guaranty, by and between Aemetis Property Keyes, Inc. and Third Eye
Capital Corporation, dated December 3, 2018.</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 25%">
<div style="text-align: center; margin-left: 0px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Exhibit <a href="amtx_ex108.htm">10.8</a></font></div>
</td>
<td style="vertical-align: bottom; width: 1%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 74%">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Limited
Guaranty, by and between Aemetis Advanced Fuels Keyes, Inc. and
Third Eye Capital Corporation, dated December 3, 2018.</font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 25%">
<div style="text-align: center; margin-left: 0px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Exhibit <a href="amtx_ex109.htm">10.9</a></font></div>
</td>
<td style="vertical-align: bottom; width: 1%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 74%">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">General
Security Agreement, by and between Aemetis Property Keyes, Inc. and
Third Eye Capital Corporation, dated December 3, 2018.</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 25%">
<div style="text-align: center; margin-left: 0px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Exhibit <a href="amtx_ex1010.htm">10.10</a></font></div>
</td>
<td style="vertical-align: bottom; width: 1%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 74%">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Intercompany
Revolving Promissory Note, by and between Aemetis Property Keyes,
Inc. and Goodland Advanced Fuels, Inc., dated December 3,
2018.</font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: top; width: 25%">
<div style="text-align: center; margin-left: 0px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Exhibit <a href="amtx_ex1011.htm">10.11</a></font></div>
</td>
<td style="vertical-align: bottom; width: 1%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 74%">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Pledge
Agreement, by and between AE Advanced Fuels, Inc. and Third Eye
Capital Corporation, dated December 3, 2018.</font></div>
</td>
</tr></table>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
SIGNATURES</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 60px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
&#xA0;</font></div>
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<tr>
<td colspan="4" style="vertical-align: middle; width: 100%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr><tr>
<td style="vertical-align: middle; width: 35%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: middle; width: 8%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: middle; width: 44%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: middle; width: 13%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr><tr>
<td style="vertical-align: bottom; width: 35%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td colspan="3" style="vertical-align: bottom; width: 65%">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
AEMETIS, INC.</font></div>
</td>
</tr><tr>
<td style="vertical-align: bottom; width: 35%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td colspan="3" style="vertical-align: bottom; width: 65%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr><tr>
<td style="vertical-align: bottom; width: 35%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 8%">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">By:</font></div>
</td>
<td style="vertical-align: bottom; width: 44%; border-bottom: 2px solid #000000">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">/s/
Eric A. McAfee</font></div>
</td>
<td style="vertical-align: bottom; width: 13%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr><tr>
<td style="vertical-align: bottom; width: 35%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 8%">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Name:</font></div>
</td>
<td colspan="2" style="vertical-align: bottom; width: 57%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Eric
A. McAfee</font></div>
</td>
</tr><tr>
<td style="vertical-align: bottom; width: 35%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 8%">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Title:</font></div>
</td>
<td colspan="2" style="vertical-align: bottom; width: 57%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Chief
Executive Officer</font></div>
</td>
</tr><tr>
<td style="vertical-align: bottom; width: 35%">
<div style="text-align: left; margin-left: 12px; margin-right: 1px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">December
7, 2018</font></div>
</td>
<td style="vertical-align: bottom; width: 8%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td colspan="2" style="vertical-align: bottom; width: 57%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 1px">&#xA0;</font><font style="color: #000000">(Principal Executive Officer)</font></font></div>
</td>
</tr></table>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>2
<FILENAME>amtx_ex103.htm
<DESCRIPTION>MATERIAL CONTRACTS
<TEXT>
<html>
<head>
<!-- Document created using Blueprint(R) - powered by Issuer Direct - www.issuerdirect.com -->
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<title>Blueprint</title>
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<font style="font-family: Times New Roman; font-size: 13px">Exhibit
10.3</font></div>
</div>
</div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
</font></div>
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<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
AMENDMENT NO. 2 TO</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
NOTE PURCHASE AGREEMENT</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">This
Amendment No. 2 to Note Purchase Agreement (this
&#x201C;<font style="font-weight: bold">Amendment</font>&#x201D;), is
dated as of November 30, 2018, by and among (i) <font style="font-weight: bold">GOODLAND ADVANCED FUELS, INC.</font>, a
Delaware corporation (the &#x201C;<font style="font-weight: bold">Borrower</font>&#x201D;)<font style="font-weight: bold">&#xA0;</font>and (ii) <font style="font-weight: bold">THIRD EYE CAPITAL CORPORATION</font>, an
Ontario corporation, as agent for the Noteholders (the
&#x201C;<font style="font-weight: bold">Agent</font>&#x201D;),
<font style="font-weight: bold">THIRD EYE CAPITAL CREDIT
OPPORTUNITIES FUND &#x2013; INSIGHT FUND</font>, <font style="font-weight: bold">THIRD EYE CAPITAL ALTERNATIVE CREDIT
TRUST</font>, and <font style="font-weight: bold">MBI/TEC PRIVATE
DEBT OPPORTUNITIES FUND I, L.P.</font> (collectively, the
&#x201C;<font style="font-weight: bold">Noteholders</font>&#x201D;),
and is acknowledged and agreed by the current Guarantors,
<font style="font-weight: bold">AEMETIS, INC.</font>, a Nevada
corporation (&#x201C;<font style="font-weight: bold">Parent</font>&#x201D;) and <font style="font-weight: bold">AEMETIS ADVANCED PRODUCTS KEYES, INC.</font>, a
Delaware corporation (&#x201C;<font style="font-weight: bold">AAPK</font>&#x201D;) and new Guarantors,
<font style="font-weight: bold">AEMETIS PROPERTY KEYES, INC.</font>
(formerly Aemetis Advanced Fuels Goodland, Inc.)
(&#x201C;<font style="font-weight: bold">APKI</font>&#x201D;) and
<font style="font-weight: bold">AEMETIS ADVANCED FUELS KEYES,
INC.</font> (&#x201C;<font style="font-weight: bold">AEFK</font>&#x201D;, and together with the
Parent, AAPK, APKI and the Borrower, the &#x201C;<font style="font-weight: bold">Obligors</font>&#x201D;).</font></div>
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RECITALS</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">A.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;The
Borrower, Agent and Noteholders entered into the Note Purchase
Agreement dated as of June 30, 2017, as amended June 28, 2018 (as
the same may be amended, restated, supplemented, revised or
replaced from time to time, the &#x201C;<font style="font-weight: bold">Agreement</font>&#x201D;). Capitalized terms
used but not defined in this Amendment shall have the meaning given
to them in the Agreement.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">B.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;The
Borrower has requested, and the Agent and Noteholders have agreed,
to amend the Agreement on the terms and conditions contained herein
in order to provide funding for APKI to undertake a proposed real
estate transaction with A.L. Gilbert Company (&#x201C;<font style="font-weight: bold">Gilbert</font>&#x201D;) and certain related
commercial arrangements with Linde LLC and to fund other capital
expenditures and approved working capital expenditures related to
the construction of interconnecting equipment to furnish CO2 from
AEFK&#x2019;s ethanol plant in Keyes, CA (collectively, the
&#x201C;<font style="font-weight: bold">CO2
Transaction</font>&#x201D;).</font></div>
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AGREEMENT</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">SECTION
1.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="font-weight: bold; text-decoration: underline">Amendments</font>.
The following sections of the Agreement shall be and hereby are
amended as follows:</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">(A)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="font-weight: bold; text-decoration: underline">Section
1.1 (Definitions)</font>.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Section
1.1 of the Agreement is hereby amended by substituting the
following definitions or adding the following definitions, as
applicable, in the appropriate alphabetical order:</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="font-weight: bold">AEFK</font>&#x201D; means Aemetis Advanced Fuels
Keyes, Inc., a Guarantor.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="font-weight: bold">Amended Intercreditor Agreement</font>&#x201D;
means the Amended and Restated Intercreditor Agreement dated the
date of the Second Amendment by and between (i) Third Eye Capital
Corporation, in its capacity as agent for the Noteholders under the
terms of that certain Amended and Restated Note Purchase Agreement
dated as of July 6, 2012 by and among Aemetis Advanced Fuels Keyes,
Inc., Keyes Facility Acquisition Corp., the Parent and the other
parties thereto, and (ii) the Agent (in its capacity as agent for
the Noteholders under the terms of this Agreement).</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;&#x201C;<font style="font-weight: bold">APKI</font>&#x201D;
means Aemetis Property Keyes, Inc., a Guarantor.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="font-weight: bold">APKI Appraisal</font>&#x201D; means an appraisal
of the APKI Mortgaged Property addressed to the Agent, in form and
content acceptable to the Agent, in its sole discretion, and
conducted and prepared by an appraiser acceptable to the Agent.
Each such Appraisal shall comply with all appraisal requirements of
the Agent and any Governmental Authority and shall reflect a fair
market value for the APKI Mortgaged Property.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="font-weight: bold">APKI Deed of Trust</font>&#x201D; means the Deed
of Trust, dated the date of the Second Amendment, executed by APKI
with respect to the APKI Mortgaged Property pursuant to which APKI
grants a first and prior mortgage to the Agent for the benefit of
the Noteholders, as beneficiary to secure APKI&#x2019;s obligations
pursuant to the Guaranty.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#x201C;<a name="_Hlk526954954"><!--anchor--></a><font style="font-weight: bold">APKI Mortgaged Property</font>&#x201D; means the
Mortgaged Property as set out in the APKI Deed of Trust, being that
real property purchased by APKI from A.L. Gilbert Company or its
affiliates pursuant to the CO2 Transaction.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="font-weight: bold">APKI Mortgaged Property Market
Value</font>&#x201D; means the &#x201C;as is&#x201D; fair market value
of the APKI Mortgaged Property as determined semi-annually by
Edwards, Lien &amp; Toso, Inc. or such other independent valuation
expert acceptable to the Agent.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="font-weight: bold">APKI Pledge Agreement</font>&#x201D; means that
certain Pledge Agreement, dated as of the Second Amendment, between
AE Advanced Fuels, Inc. as Pledgor and the Agent, relating to a
pledge of 100% of the Capital Stock of APKI.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="font-weight: bold">CO2 Term Loan</font>&#x201D; has the meaning set
forth in Section 2.1 hereof.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="font-weight: bold">CO2 Transaction</font>&#x201D; has the meaning
set forth in the recitals to the Second Amendment.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="font-weight: bold">Guaranty</font>&#x201D; means collectively or
individually, as applicable: (i) that Second Amended &amp; Restated
Limited Guaranty by the Parent and AAPK in favor of the Agent, (ii)
that Limited Guaranty by APKI in favor of the Agent, and (iii) that
Limited Recourse Guaranty by AEFK in favor of the Agent, in each
case dated as of the date of the Second Amendment and which
guarantees the Note Indebtedness in accordance with its
terms.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="font-weight: bold">Linde Contract</font>&#x201D; means that
Agreement for the Sale of CO2 between AEFK and Linde LLC dated
August 25, 2017 as the same may be amended, restated, supplemented,
revised or replaced from time to time.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="font-weight: bold">Second Amendment</font>&#x201D; means that
Amendment No. 2 to the Note Purchase Agreement dated November 30,
2018 as between the Borrower, the Agent and the Noteholders and
acknowledged and agreed to by the Guarantors.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">(B)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="font-weight: bold; text-decoration: underline">Section
2.1 (Term Loan)</font>.</font></div>
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<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">Section
2.1 of the Agreement is hereby deleted in its entirety and replaced
with the following:</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="font-weight: bold">Term Loan.</font> Subject to the terms and
conditions of this Agreement, and relying on each of the
representations and warranties set forth in each of the Note
Purchase Documents, the Noteholders agree, individually as joint
obligors, and not as joint and several obligors, to make a term
loan to the Borrower:</font></div>
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<div style="display: table-cell; width: 24px"><font style="font-family: Times New Roman; font-size: 13px">(a)&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">on the Closing Date
in an aggregate amount of Fifteen Million Dollars ($15,000,000)
(the &#x201C;<font style="font-weight: bold">Initial Term
Loan</font>&#x201D;); and</font></div>
</div>
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<div style="display: table-row">
<div style="display: table-cell; width: 24px"><font style="font-family: Times New Roman; font-size: 13px">(b)&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">on the date of the
First Amendment in an aggregate amount of One Million Five Hundred
Seventy Five Thousand Dollars ($1,575,000) (the &#x201C;<font style="font-weight: bold">Subsequent Term
Loan</font>&#x201D;),</font></div>
</div>
</div>
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<div style="display: table-cell; width: 24px"><font style="font-family: Times New Roman; font-size: 13px">(c)&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">on the date of the
Second Amendment in an aggregate amount of Three Million Five
Hundred Thousand Dollars ($3,500,000); provided that the Obligors
acknowledge that certain amounts of such principal may be advanced
to the Borrower upon the satisfaction of certain conditions, as
more specifically indicated in Schedule 5.1(i) &#x201C;Use of
Proceeds&#x201D; (the &#x201C;<font style="font-weight: bold">CO2
Term Loan</font>&#x201D; and together with the Initial Term Loan and
the Subsequent Term Loan, the &#x201C;<font style="font-weight: bold">Term Loan</font>&#x201D;),</font></div>
</div>
</div>
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<font style="font-family: Times New Roman; font-size: 13px">in each
case according to each Noteholder&#x2019;s Term Loan Commitment and
such Indebtedness shall be evidenced by secured promissory notes
issued to each Noteholder (each, a &#x201C;<font style="font-weight: bold">Term Note</font>&#x201D;). After repayment, the
Term Loan may not be re-borrowed.&#x201D;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">(C)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="font-weight: bold; text-decoration: underline">Section
2.4 (Repayment).</font></font></div>
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<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">Subsection 2.4(b)
of the Agreement is hereby deleted in its entirety and replaced
with the following:</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#x201C;The Borrower
shall also be required to, and hereby agrees to, make the following
mandatory prepayments on the Term Loan and any Revolving Advances:
100% of the net cash proceeds received by the Borrower or other
Obligor or their Affiliates (excluding Aemetis Biogas LLP), as
applicable from (i) the EB-5 Program Issuance, (ii) any USDA
Financing, (iii) any sales of the Obligors&#x2019; Capital Stock,
(iv) any Indebtedness incurred or issued (that is not permitted by
this Agreement), (v) repayments made to the Borrower under any of
the Term Loans or under a Revolving Intercompany Note to the extent
such amounts are not immediately reborrowed in accordance with the
terms of the Revolving Intercompany Note, (vi) the occurrence of a
Change of Control (unless such Change of Control is caused by the
exercise of the Aemetis Option or the exercise of the Warrant),
(vii) the receipt of any tax refund, reimbursement or other payment
from any Governmental Authority, and (viii) any sale, royalty
agreement or other disposition of assets outside of the ordinary
course of business or pursuant to a transaction that is not
permitted pursuant to this Agreement (including as a result of any
condemnation, casualty or similar event) (other than dispositions
to another Obligor, to the extent permitted hereby); provided that,
in the case of this subclause (viii), the Agent (at the
Borrower&#x2019;s request) may in its sole discretion authorize the
Obligors to reinvest all or a portion of such proceeds, and any
such reinvestment shall be permitted on the terms and conditions
set forth by the Agent so long as no Default or Event of Default
occurs.&#x201D;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">A new
subsection 2.4(d) is hereby added to the Agreement as
follows:</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#x201C;The Obligors
shall also be required to, and hereby agree to, make the following
mandatory repayments of the CO2 Term Loan:</font></div>
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<div style="text-align: left; margin-left: 48px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 13px">i)&#xA0; on a
monthly basis, an amount equal to 75% of any payments received by
any Obligor pursuant to Section 5.1 and 5.2 of the Linde Contract
which are related to Product or Gas or CO2 (each as defined
therein) produced by Linde LLC without giving effect to any setoff
or counterclaim or other credit or repayments pursuant to Section
5.3 or Article 6 of the Linde Contract;</font></div>
<div style="text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 48px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 13px">ii)&#xA0; an amount
equal to 100% of each monthly &#x201C;Linde&#x2019;s Plant Site
Charge&#x201D; payment received by any Obligor pursuant to Section
5.1 of the Linde Contract, which for clarity is anticipated to be
equal to $10,000 per month, without giving effect to any setoff or
counterclaim; and</font></div>
<div style="text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 48px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 13px">iii)&#xA0; on a
monthly basis, an amount equal to the product of: (A) $0.01
multiplied by (B) the number of bushels of Grain (as defined in the
Procurement Agreement) procured or purchased by any Obligor from
J.D. Heiskell Holdings, LLC or its affiliates or nominee
(&#x201C;<font style="font-weight: bold">Heiskell</font>&#x201D;)
pursuant to that Amended and Restated Grain Procurement and Working
Capital Agreement dated May 7, 2013 (as may be amended, restated,
supplemented, revised or replaced from time to time, the
&#x201C;<font style="font-weight: bold">Procurement
Agreement</font>&#x201D;); it being acknowledged that such amount
shall not constitute a reduction or set off or otherwise derogate
or replace any Obligor&#x2019;s obligation to make any payment under
the Procurement Agreement to Heiskell and such repayment obligation
contemplated herein shall be in addition to such payment
obligations included in the Procurement Agreement and shall be made
irrespective of the price of such Grain indicated in or paid
pursuant to the Procurement Agreement as between Heiskell and any
Obligor,</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">and
with respect to (i) and (ii) above, AEFK covenants and agrees to
direct Linde LLC to make all payments, credits, reimbursements or
other payments of any sums whatsoever pursuant to or related to the
Linde Contract to a bank account identified by the Agent in its
sole discretion, over which the Agent shall have direction and
control, and from which the Agent shall be entitled to withhold,
extract and obtain the payment amounts indicated
above.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px">
<font style="font-family: Times New Roman; font-size: 13px">(D)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="font-weight: bold; text-decoration: underline">Section
2.5 (Interest)</font>.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">Subsection 2.5(c)
of the Agreement is hereby deleted in its entirety and replaced
with the following:</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">4</font></div>
</div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#x201C;Commencing
on August 1, 2017 and on the first Business Day of each calendar
month thereafter (each such date, an &#x201C;<font style="font-weight: bold">Interest Payment Date</font>&#x201D;), Borrower
shall make monthly payments of interest, in arrears for the
preceding calendar month (or from the Closing Date in the case of
the interest payment due on August 1, 2017); provided, however,
that interest accruing on the Initial Term Loan for the first
eighteen (18) Interest Payment Dates following the Closing Date
shall have been paid in advance in accordance with Section
3.1(p).</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">In
addition, interest accruing on the CO2 Term Loan shall be
calculated from the date upon which such portions of the CO2 Term
Loan are advanced to the Borrower, as contemplated in Schedule
5.1(i) &#x201C;Use of Proceeds&#x201D; and it is acknowledged that
$200,000 of the CO2 Term Loan shall be withheld by the Agent at
closing and used to pay such interest as it becomes due and
payable, or interest on the Term Loan or Revolving Line, at the
Agent&#x2019;s discretion, as such interest becomes due and
payable.&#x201D;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">In
addition, the phrase &#x201C;Term Loan&#x201D;, where it appears in
Subsection 3.1(p) of the Agreement, is hereby deleted and replaced
with the phrase &#x201C;Initial Term Loan&#x201D;.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px">
<font style="font-family: Times New Roman; font-size: 13px">(E)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="font-weight: bold; text-decoration: underline">Section
2.13 (Fee Letter)</font>.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">Section
2.13 of the Agreement is hereby deleted in its entirety and
replaced with the following:</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="font-weight: bold">Fee Letter.</font> The Borrower agrees to pay
to the Agent, for itself or for and on behalf of the Noteholders,
as applicable: (i) the fees described in the Fee Letter, (ii) at
the date of the First Amendment, the amount of $75,000, and (iii)
at the date of the Second Amendment, the amount of $175,000. All
such fees may be withheld from, and payable from, the proceeds of
the Loans in connection with those fees then
due.&#x201D;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px">
<font style="font-family: Times New Roman; font-size: 13px">(F)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="font-weight: bold; text-decoration: underline">Section
5.1(p) (Post-Closing Matters)</font>.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">Section
5.1(p) of the Agreement is amended by adding the following new
paragraphs (iii) to (vi):</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 13px">&#x201C;(iii)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
Each Obligor covenants that it will use reasonable commercial
efforts to terminate, remove or release the right of way and
easement created by that certain deed from Herbert M. Hatch, Laura
M. Hatch and Cora H. Johnston to O.L. Jessup and M.S. Jessup
recorded in the Stanislaus Records on February 9th, 1920, at Book
304 of Deeds, Page 412 of Official Records on the APKI Mortgaged
Property (the &#x201C;<font style="font-weight: bold">1920
Easement</font>&#x201D;) within twelve 12 months of the date of the
Second Amendment.</font></div>
<div style="text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 13px">(iv)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
Within one week of the date of the Second Amendment, each Obligor
covenants to provide the Agent with applicable permits or
certificates of occupancy with respect to the APKI Mortgaged
Property.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(v)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Within
30 days of the date of the Second Amendment, the Obligors covenant
to provide the Agent with each of: (A) an amendment and restatement
of the Linde Contract, and (B) an assignment from APKI to Linde of
APKI&#x2019;s obligations under each of the Purchase agreements
(easement) and (rail spur) between Gilbert and APKI, each in form
and substance satisfactory to the Agent.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">5</font></div>
</div>
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px">
<font style="font-family: Times New Roman; font-size: 13px">(vi)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Within
30 days of the date of the Second Amendment, the Obligors covenant
to provide the Agent with an amended APKI Title Policy in form and
substance satisfactory to the Agent which shall be in the form of a
2006 ALTA extended coverage loan policy without showing a general
exception for survey matters, and shall include such endorsements
as requested by the Agent (including, without limitation ALTA
3.0-06 (Zoning), ALTA 18-06 (Single Tax Parcel), and ALTA 25-06
(Same as Survey)). For greater clarity, the Obligors acknowledge
that, in order to obtain such amended APKI Title Policy they will
likely need to provide the Title Company with an updated ALTA Land
Title Survey with respect to the APKI Mortgaged Property and a
third party zoning report with respect to the APKI Mortgaged
Property, or such other evidence or documentation as may be
required by the Title Company.&#x201D;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px">
<font style="font-family: Times New Roman; font-size: 13px">(G)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="font-weight: bold; text-decoration: underline">Section
5.2(k) (Financial Covenants)</font>.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">Section
5.1(k)(i) of the Agreement is hereby deleted in its entirety and
replaced with the following:</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 13px">&#x201C;(i)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
Permit the ratio of: (a) the sum of (i) the most recent Mortgaged
Property Market Value, (ii) the most recent APKI Mortgaged Property
Market Value, and (iii) the most recent Riverbank Project Value to
(b) the Note Indebtedness, to be less than 2.00:1.00, tested as of
the last day of each fiscal quarter.&#x201D;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">In
addition, corresponding changes are hereby made to Section 3 of
Schedule 5.1(c) (Form of Compliance Certificate).</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px">
<font style="font-family: Times New Roman; font-size: 13px">(H)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="font-weight: bold; text-decoration: underline">Section
5.2(k) (Financial Covenants)</font>.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">Section
5.1(k)(ii) of the Agreement is hereby deleted in its entirety and
replaced with the following:</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 13px">&#x201C;(ii)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
Permit the amount of trade payables (other than amounts due to
management) due to exceed the sum of the amount of the
Borrower&#x2019;s Cash Equivalents plus the Revolving Advances
available to be advanced under the Revolving Line, tested as of the
last day of each month other than the months from June to November,
2018.&#x201D;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px">
<font style="font-family: Times New Roman; font-size: 13px">(I)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="font-weight: bold; text-decoration: underline">Schedule
1.1(a) (Commitments Schedule)</font>.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">Schedule 1.1(a) of
the Agreement is hereby deleted in its entirety and replaced with
Schedule 1.1(a) attached hereto.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px">
<font style="font-family: Times New Roman; font-size: 13px">(J)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="font-weight: bold; text-decoration: underline">Schedule
5.1(i) (Use of Proceeds)</font>.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">Schedule 5.1(i) of
the Agreement is hereby deleted in its entirety and replaced with
Schedule 5.1(i) attached hereto.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">6</font></div>
</div>
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 0px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 13px">SECTION
2.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="font-weight: bold; text-decoration: underline">Conditions to
Effectiveness</font>. This Amendment shall be effective on the date
first written above and subject to satisfaction of the following
conditions precedent:</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table; margin-left: 44px">
<div style="display: table-row">
<div style="display: table-cell; width: 60px"><font style="font-family: Times New Roman; font-size: 13px">(A)&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">The Agent shall
have completed its due diligence investigation to its satisfaction
with respect to the proposed CO2 Transaction;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table; margin-left: 44px">
<div style="display: table-row">
<div style="display: table-cell; width: 60px"><font style="font-family: Times New Roman; font-size: 13px">(B)&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">The Agent shall
have received the following, each in form and substance
satisfactory to the Agent in its sole discretion:</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table; margin-left: 104px">
<div style="display: table-row">
<div style="display: table-cell; width: 24px"><font style="font-family: Times New Roman; font-size: 13px">i.&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">this Amendment duly
executed by the parties hereto;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table; margin-left: 104px">
<div style="display: table-row">
<div style="display: table-cell; width: 24px"><font style="font-family: Times New Roman; font-size: 13px">ii.&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Term Notes
evidencing the CO2 Term Loan, in favor of each Noteholder in
accordance with their respective Term Loan Commitment Percentage,
duly executed by the Borrower;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table; margin-left: 104px">
<div style="display: table-row">
<div style="display: table-cell; width: 24px"><font style="font-family: Times New Roman; font-size: 13px">iii.&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">an intercompany
note between APKI and the Borrower evidencing the advance of the
amount of the CO2 Term Loan received by the Borrower from time to
time to APKI, endorsed to the Agent;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table; margin-left: 104px">
<div style="display: table-row">
<div style="display: table-cell; width: 24px"><font style="font-family: Times New Roman; font-size: 13px">iv.&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">each Guaranty,
dated the date hereof, from each Guarantor other than
AEFK;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table; margin-left: 104px">
<div style="display: table-row">
<div style="display: table-cell; width: 24px"><font style="font-family: Times New Roman; font-size: 13px">v.&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">a limited recourse
Guaranty, from AEFK, dated the date hereof;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table; margin-left: 104px">
<div style="display: table-row">
<div style="display: table-cell; width: 24px"><font style="font-family: Times New Roman; font-size: 13px">vi.&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">the APKI Pledge
Agreement;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table; margin-left: 104px">
<div style="display: table-row">
<div style="display: table-cell; width: 24px"><font style="font-family: Times New Roman; font-size: 13px">vii.&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">the original stock
certificate of APKI issued to AE Advanced Fuels, Inc. evidencing
100% of the issued and outstanding shares of capital stock of APKI
pledged to the Agent, and the applicable original stock power with
respect thereto;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table; margin-left: 104px">
<div style="display: table-row">
<div style="display: table-cell; width: 24px"><font style="font-family: Times New Roman; font-size: 13px">viii.&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">a General Security
Agreement executed by APKI;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table; margin-left: 104px">
<div style="display: table-row">
<div style="display: table-cell; width: 24px"><font style="font-family: Times New Roman; font-size: 13px">ix.&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">the APKI Deed of
Trust and related assignments of leases, rents agreements,
licenses, permits and contracts and environmental indemnity from
APKI;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table; margin-left: 104px">
<div style="display: table-row">
<div style="display: table-cell; width: 24px"><font style="font-family: Times New Roman; font-size: 13px">x.&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">the APKI
Appraisal;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table; margin-left: 104px">
<div style="display: table-row">
<div style="display: table-cell; width: 24px"><font style="font-family: Times New Roman; font-size: 13px">xi.&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">a Title Policy (or
the applicable title company&#x2019;s unconditional commitment to
issue a Title Policy upon recordation of the APKI Deed of Trust)
(the &#x201C;<font style="font-weight: bold">APKI Title
Policy</font>&#x201D;) with respect to the APKI Mortgaged
Property;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table; margin-left: 104px">
<div style="display: table-row">
<div style="display: table-cell; width: 24px"><font style="font-family: Times New Roman; font-size: 13px">xii.&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Phase I report with
respect to the APKI Mortgaged Property;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table; margin-left: 104px">
<div style="display: table-row">
<div style="display: table-cell; width: 24px"><font style="font-family: Times New Roman; font-size: 13px">xiii.&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">evidence that the
APKI Mortgaged Property is not located within any designated flood
plain or special flood hazard area or, in lieu thereof, evidence
that APKI has applied for and received flood insurance covering the
APKI Mortgaged Property in an amount acceptable to the
Agent;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">7</font></div>
</div>
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table; margin-left: 104px">
<div style="display: table-row">
<div style="display: table-cell; width: 24px"><font style="font-family: Times New Roman; font-size: 13px">xiv.&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">evidence of the
rezoning of the APKI Mortgaged Property from agricultural to
commercial and evidence that all applicable zoning ordinances and
restrictive covenants affecting the APKI Mortgaged Property permit
the use for which such property is intended and have been or will
be complied with in all respects;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table; margin-left: 104px">
<div style="display: table-row">
<div style="display: table-cell; width: 24px"><font style="font-family: Times New Roman; font-size: 13px">xv.&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">evidence that
applicable insurance policies with respect to the APKI Mortgaged
Property are in full force and effect (whether via a new policy or
an amendment to existing policies), together with appropriate
evidence showing loss payable and/or additional insured clauses or
endorsements in favor of the Agent;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table; margin-left: 104px">
<div style="display: table-row">
<div style="display: table-cell; width: 24px"><font style="font-family: Times New Roman; font-size: 13px">xvi.&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Purchase agreement
(easement) between Gilbert and APKI;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table; margin-left: 104px">
<div style="display: table-row">
<div style="display: table-cell; width: 24px"><font style="font-family: Times New Roman; font-size: 13px">xvii.&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Purchase or lease
agreement (rail spur) between Gilbert and APKI;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table; margin-left: 104px">
<div style="display: table-row">
<div style="display: table-cell; width: 24px"><font style="font-family: Times New Roman; font-size: 13px">xviii.&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Quitclaim deed
regarding 1920 Easement signed and recorded by
Gilbert;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table; margin-left: 104px">
<div style="display: table-row">
<div style="display: table-cell; width: 24px"><font style="font-family: Times New Roman; font-size: 13px">xix.&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">a duly executed
collateral pledge and assignment of the Linde Contract by AEFK,
including therewith a payment direction from AEFK to Linde LLC with
respect to the payment of amounts owed pursuant to the Linde
Contract to the applicable segregated account indicated by the
Agent;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table; margin-left: 104px">
<div style="display: table-row">
<div style="display: table-cell; width: 24px"><font style="font-family: Times New Roman; font-size: 13px">xx.&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">UCC financing
statement reflecting APKI, as debtor, and Agent, as a secured
party, and accompanying financing statement searches;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table; margin-left: 104px">
<div style="display: table-row">
<div style="display: table-cell; width: 24px"><font style="font-family: Times New Roman; font-size: 13px">xxi.&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">a Perfection
Certificate, executed by APKI and AEFK;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table; margin-left: 104px">
<div style="display: table-row">
<div style="display: table-cell; width: 24px"><font style="font-family: Times New Roman; font-size: 13px">xxii.&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">duly executed legal
opinions of counsel to APKI and AEFK;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table; margin-left: 104px">
<div style="display: table-row">
<div style="display: table-cell; width: 24px"><font style="font-family: Times New Roman; font-size: 13px">xxiii.&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Officer&#x2019;s
Certificate certifying all material transaction documents with
respect to the CO2 Transaction as may be required by the Agent
(including without limitation with Gilbert and Linde) and
confirming that all conditions precedent to the consummation of the
CO2 Transaction have been satisfied or waived and confirming those
aspects of the CO2 Transaction which will close simultaneously with
the funding of the CO2 Term Loan on the date hereof;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table; margin-left: 104px">
<div style="display: table-row">
<div style="display: table-cell; width: 24px"><font style="font-family: Times New Roman; font-size: 13px">xxiv.&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Officer&#x2019;s
Certificate attaching: (i) Organic Documents; and (ii) true and
complete copies of resolutions duly adopted by the board of
directors of APKI and AEFK in each case authorizing the execution,
delivery and performance of this Amendment and the matters and
documents included herein;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table; margin-left: 104px">
<div style="display: table-row">
<div style="display: table-cell; width: 24px"><font style="font-family: Times New Roman; font-size: 13px">xxv.&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">good standing
certificates of APKI and AEFK from Delaware and
California.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table; margin-left: 44px">
<div style="display: table-row">
<div style="display: table-cell; width: 60px"><font style="font-family: Times New Roman; font-size: 13px">(C)&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Each Obligor shall
have paid all fees and expenses of the Agent and Noteholders then
due as specified by the Fee Letter or as otherwise
required.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">8</font></div>
</div>
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="display: table; margin-left: 44px">
<div style="display: table-row">
<div style="display: table-cell; width: 60px"><font style="font-family: Times New Roman; font-size: 13px">(D)&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Each Obligor shall
have performed and complied with all of the covenants and
conditions required by this Amendment and the Note Purchase
Documents to be performed and complied with by it upon the
effective date of this Amendment.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table; margin-left: 44px">
<div style="display: table-row">
<div style="display: table-cell; width: 60px"><font style="font-family: Times New Roman; font-size: 13px">(E)&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">The Agent shall
have entered into the Amended Intercreditor Agreement on terms
acceptable to it.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table; margin-left: 44px">
<div style="display: table-row">
<div style="display: table-cell; width: 60px"><font style="font-family: Times New Roman; font-size: 13px">(F)&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">The Agent shall
have received all other approvals, opinions, documents, agreements,
instruments, certificates, schedules and materials as the Agent may
reasonably request.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">Each
Obligor acknowledges and agrees that the failure to perform, or to
cause the performance of, the covenants and agreements in this
Amendment will constitute an Event of Default under the Agreement
and Agent and Noteholders shall have the right to demand the
immediate repayment in full in cash of all outstanding Note
Indebtedness owing to Agent and Noteholders under the Agreement,
the Notes and the other Note Purchase Documents. In consideration
of the foregoing and the transactions contemplated by this
Amendment, each Obligor hereby: (i)&#xA0;ratifies and confirms all
of the obligations and liabilities of it owing pursuant to the
Agreement and the other Note Purchase Documents, and (ii) agrees to
pay all costs, fees and expenses of Agent and the Noteholders in
connection with this Amendment.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">SECTION
3.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0; <font style="font-weight: bold; text-decoration: underline">Agreement in Full
Force and Effect as Amended</font>. Except as specifically amended
or waived hereby, the Agreement and other Note Purchase Documents
shall remain in full force and effect and are hereby ratified and
confirmed as so amended. Except as expressly set forth herein, this
Amendment shall not be deemed to be a waiver, amendment or
modification of, or consent to or departure from, any provisions of
the Agreement or any other Note Purchase Document or any right,
power or remedy of Agent or Noteholders thereunder, nor constitute
a waiver of any provision of the Agreement or any other Note
Purchase Document, or any other document, instrument or agreement
executed or delivered in connection therewith or of any Default or
Event of Default under any of the foregoing, in each case whether
arising before or after the execution date of this Amendment or as
a result of performance hereunder or thereunder. This Amendment
shall not preclude the future exercise of any right, remedy, power,
or privilege available to Agent or Noteholders whether under the
Agreement, the other Note Purchase Documents, at law or otherwise.
All references to the Agreement shall be deemed to mean the
Agreement as modified hereby. This Amendment shall not constitute a
novation or satisfaction and accord of the Agreement or any other
Note Purchase Documents, but rather shall constitute an amendment
thereof. The parties hereto agree to be bound by the terms and
conditions of the Agreement and Note Purchase Documents as amended
by this Amendment, as though such terms and conditions were set
forth herein. Each reference in the Agreement to &#x201C;this
Agreement,&#x201D; &#x201C;hereunder,&#x201D; &#x201C;hereof,&#x201D;
&#x201C;herein&#x201D; or words of similar import shall mean and be a
reference to the Agreement as amended by this Amendment, and each
reference herein or in any other Note Purchase Documents to
&#x201C;the Agreement&#x201D; shall mean and be a reference to the
Agreement as amended and modified by this Amendment.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">9</font></div>
</div>
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">SECTION
4.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="font-weight: bold; text-decoration: underline">Representations of
Obligors</font>. Each Obligor hereby represents and warrants to
Agent and Noteholders as of the execution date of this Amendment as
follows: (A)&#xA0;it is duly incorporated, validly existing and in
good standing under the laws of its jurisdiction of incorporation;
(B)&#xA0;the execution, delivery and performance by it of this
Amendment and all other Note Purchase Documents executed and
delivered in connection herewith are within its powers, have been
duly authorized, and do not contravene (i)&#xA0;its articles of
incorporation, bylaws or other organizational documents, or
(ii)&#xA0;any applicable law; (C)&#xA0;no consent, license, permit,
approval or authorization of, or registration, filing or
declaration with any Governmental Authority or other Person, is
required in connection with the execution, delivery, performance,
validity or enforceability of this Amendment or any other Note
Purchase Documents executed and delivered in connection herewith by
or against it; (D)&#xA0;this Amendment and all other Note Purchase
Documents executed and delivered in connection herewith have been
duly executed and delivered by it; (E)&#xA0;this Amendment and all
other Note Purchase Documents executed and delivered in connection
herewith constitute its legal, valid and binding obligation
enforceable against it in accordance with their terms, except as
enforceability may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium or similar laws affecting the
enforcement of creditors&#x2019; rights generally or by general
principles of equity; (F)&#xA0;it is not in default under the
Agreement or any other Note Purchase Documents and no Event of
Default exists, has occurred and is continuing or would result by
the execution, delivery or performance of this Amendment; and
(G)&#xA0;the representations and warranties contained in the
Agreement and the other Note Purchase Documents are true and
correct in all material respects as of the execution date of this
Amendment as if then made, except for such representations and
warranties limited by their terms to a specific date.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">SECTION
5. &#xA0; &#xA0; &#xA0; &#xA0;&#xA0; <font style="font-weight: bold; text-decoration: underline">Miscellaneous</font>.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(A)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;This
Amendment may be executed in any number of counterparts (including
by facsimile or email), and by the different parties hereto on the
same or separate counterparts, each of which shall be deemed to be
an original instrument but all of which together shall constitute
one and the same agreement. Whenever the context and construction
so require, all words herein in the singular number herein shall be
deemed to have been used in the plural, and vice versa. The use of
the word &#x201C;including&#x201D; in this Amendment shall be by way
of example rather than by limitation. The use of the words
&#x201C;and&#x201D; or &#x201C;or&#x201D; shall not be inclusive or
exclusive.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(B)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;This
Amendment may not be changed, amended, restated, waived,
supplemented, discharged, canceled, terminated or otherwise
modified without the written consent of the Borrower and Agent.
This Amendment shall be considered part of the Agreement and shall
be a Note Purchase Document for all purposes under the Agreement
and other Note Purchase Documents.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(C)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;This
Amendment, the Agreement and the Note Purchase Documents constitute
the final, entire agreement and understanding between the parties
with respect to the subject matter hereof and thereof and may not
be contradicted by evidence of prior, contemporaneous or subsequent
oral agreements between the parties, and shall be binding upon and
inure to the benefit of the successors and assigns of the parties
hereto and thereto. There are no unwritten oral agreements between
the parties with respect to the subject matter hereof and
thereof.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(D)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;THIS
AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS
AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED IN
ACCORDANCE WITH THE CHOICE OF LAW PROVISIONS SET FORTH IN THE
AGREEMENT AND SHALL BE SUBJECT TO ANY WAIVER OF JURY TRIAL AND
NOTICE PROVISIONS OF THE AGREEMENT.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">10</font></div>
</div>
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(E)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;No
Obligor may assign, delegate or transfer this Amendment or any of
their rights or obligations hereunder. No rights are intended to be
created under this Amendment for the benefit of any third party
donee, creditor or incidental beneficiary of the Obligors. Nothing
contained in this Amendment shall be construed as a delegation to
Agent or Noteholders of the Obligors&#x2019; duty of performance,
including any duties under any account or contract in which Agent
or Noteholders have a security interest or lien. This Amendment
shall be binding upon the parties hereto and their respective
successors and assigns.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(F)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;All
representations and warranties made in this Amendment shall survive
the execution and delivery of this Amendment and no investigation
by Agent or Noteholders shall affect such representations or
warranties or the right of Agent or Noteholders to rely upon
them.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(G)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;THE
OBLIGORS ACKNOWLEDGE THAT SUCH PERSON&#x2019;S PAYMENT OBLIGATIONS
ARE ABSOLUTE AND UNCONDITIONAL WITHOUT ANY RIGHT OF RECISSION,
SETOFF, COUNTERCLAIM, DEFENSE, OFFSET, CROSS-COMPLAINT, CLAIM OR
DEMAND OF ANY KIND OR NATURE WHATSOEVER THAT CAN BE ASSERTED TO
REDUCE OR ELIMINATE ALL OR ANY PART OF ITS LIABILITY TO REPAY THE
NOTE INDEBTEDNESS OR TO SEEK AFFIRMATIVE RELIEF OR DAMAGES OF ANY
KIND OR NATURE FROM AGENT OR ANY NOTEHOLDER. THE OBLIGORS HEREBY
VOLUNTARILY AND KNOWINGLY RELEASE AND FOREVER DISCHARGE AGENT AND
EACH NOTEHOLDER AND THEIR RESPECTIVE PREDECESSORS, AGENTS,
EMPLOYEES, SUCCESSORS AND ASSIGNS (COLLECTIVELY, THE
&#x201C;RELEASED PARTIES&#x201D;), FROM ALL POSSIBLE CLAIMS, DEMANDS,
ACTIONS, CAUSES OF ACTION, DAMAGES, COSTS, EXPENSES, AND
LIABILITIES WHATSOEVER, KNOWN OR UNKNOWN, ANTICIPATED OR
UNANTICIPATED, SUSPECTED OR UNSUSPECTED, FIXED, CONTINGENT, OR
CONDITIONAL, AT LAW OR IN EQUITY, ORIGINATING IN WHOLE OR IN PART
ON OR BEFORE THE DATE THIS AMENDMENT IS EXECUTED, WHICH SUCH PERSON
MAY NOW OR HEREAFTER HAVE AGAINST THE RELEASED PARTIES, IF ANY, AND
IRRESPECTIVE OF WHETHER ANY SUCH CLAIMS ARISE OUT OF CONTRACT,
TORT, VIOLATION OF LAW OR REGULATIONS, OR OTHERWISE, AND ARISING
FROM ANY &#x201C;LOANS&#x201D;, INCLUDING ANY CONTRACTING FOR,
CHARGING, TAKING, RESERVING, COLLECTING OR RECEIVING INTEREST IN
EXCESS OF THE HIGHEST LAWFUL RATE APPLICABLE, THE EXERCISE OF ANY
RIGHTS AND REMEDIES UNDER THE AGREEMENT OR OTHER NOTE PURCHASE
DOCUMENTS, AND NEGOTIATION FOR AND EXECUTION OF THIS
AMENDMENT.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
{Signatures appear on following pages.}</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">11</font></div>
</div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">IN
WITNESS WHEREOF, the parties hereto have executed this Amendment
effective as of the date first noted above.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 288px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold; text-decoration: underline">BORROWER</font>:</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">GOODLAND
ADVANCED FUELS, INC.</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;"><font style="font-family: Times New Roman; font-size: 13px">By: <font style="text-decoration: underline">/s/ Michael
Peterson&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br>
</font></font></font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;"><font style="font-family: Times New Roman; font-size: 13px">Name: Michael
Peterson</font> &#xA0;</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;"><font style="font-family: Times New Roman; font-size: 13px">Title: Chief
Executive Officer</font>&#xA0;<br></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
Signature Page to Amendment No. 2</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Acknowledged
and agreed by the Guarantors:</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">AEMETIS
ADVANCED PRODUCTS KEYES, INC.</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;"><font style="font-family: Times New Roman; font-size: 13px">By: <font style="text-decoration: underline">/s/ Eric A.
McAfee&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br>
</font></font></font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Name:
Eric A. McAfee</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Title:
Chief Executive Officer</font></div>
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">AEMETIS,
INC.</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px;">

<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;"><font style="font-family: Times New Roman; font-size: 13px">By: <font style="text-decoration: underline">/s/ Eric A.
McAfee&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br>
</font></font></font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Name:
Eric A. McAfee</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Title:
Chief Executive Officer</font></div>
</div>
&#xA0; <font style="font-family: Times New Roman; font-size: 13px;"><br>
</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">AEMETIS
PROPERTY KEYES, INC.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">

<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;"><font style="font-family: Times New Roman; font-size: 13px">By: <font style="text-decoration: underline">/s/ Eric A.
McAfee&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br>
</font></font></font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Name:
Eric A. McAfee</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Title:
Chief Executive Officer</font></div>
</div>
&#xA0; <font style="font-family: Times New Roman; font-size: 13px;"><br>
</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">AEMETIS
ADVANCED FUELS KEYES, INC.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">

<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;"><font style="font-family: Times New Roman; font-size: 13px">By: <font style="text-decoration: underline">/s/ Eric A.
McAfee&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br>
</font></font></font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">

<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Name:
Eric A. McAfee</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Title:
Chief Executive Officer</font></div>
</div>
&#xA0; <font style="font-family: Times New Roman; font-size: 13px;"><br>
</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
Signature Page to Amendment No. 2</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 288px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">AGENT:</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">THIRD
EYE CAPITAL CORPORATION</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;"><font style="font-family: Times New Roman; font-size: 13px">By: <font style="text-decoration: underline">/s/ Arif N.
Bhalwani&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br>
</font></font></font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;"></font>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Name:
Arif N. Bhalwani</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Title:
Managing Director</font></div>
<font style="font-family: Times New Roman; font-size: 13px;"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font>&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<br>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div>
<table cellpadding="0" cellspacing="0" style="width: 100%; font-family: Times New Roman; font-size: 13px">
<tr>
<td style="vertical-align: top; width: 44%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td colspan="3" style="vertical-align: top; width: 56%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
NOTEHOLDERS:</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr><tr>
<td style="vertical-align: bottom; width: 44%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td colspan="3" style="vertical-align: top; width: 56%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold; color: #000000">
MBI/TEC PRIVATE DEBT OPPORTUNITIES</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold; color: #000000">
FUND I, L.P.,</font> <font style="color: #000000">herein acting by
its general partner</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold; color: #000000">
MBI/TEC PRIVATE DEBT GP L.P.,</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
itself acting by its general partner</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
MBI/TEC PRIVATE DEBT GP INC.</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 44%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td colspan="2" style="vertical-align: top; width: 54%; border-bottom: 2px solid #000000">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Per:
/s/ Arif N.
Bhalwani&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 2%; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 44%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 11%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td colspan="2" style="vertical-align: top; width: 45%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Name:&#xA0;&#xA0;
Arif N. Bhalwani</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 44%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 11%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td colspan="2" style="vertical-align: top; width: 45%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Title:&#xA0;&#xA0;&#xA0;&#xA0;
President and CEO</font></div>
</td>
</tr></table>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
Signature Page to Amendment No. 2</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div>
<table cellpadding="0" cellspacing="0" style="width: 100%; font-family: Times New Roman; font-size: 13px">
<tr>
<td style="vertical-align: bottom; width: 44%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td colspan="3" style="vertical-align: top; width: 56%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold; color: #000000">
THIRD EYE CAPITAL CREDIT</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold; color: #000000">
OPPORTUNITIES FUND &#x2013; INSIGHT FUND</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
by its Managing General Partner</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold; color: #000000">
THIRD EYE CAPITAL CREDIT OPPORTUNITIES S.AR.L.</font></font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 44%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 11%">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Per:</font></div>
</td>
<td colspan="2" style="vertical-align: top; width: 45%; border-bottom: 2px solid #000000">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">/s/
Richard Goddard</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 44%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 11%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td colspan="2" style="vertical-align: top; width: 45%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Name:&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
Richard Goddard</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 44%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 11%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td colspan="2" style="vertical-align: top; width: 45%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Title:&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
Manager</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 44%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 11%">
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Per:</font></div>
</td>
<td colspan="2" style="vertical-align: top; width: 45%; border-bottom: 2px solid #000000">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">/s/
Paul de Quant</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 44%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 11%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td colspan="2" style="vertical-align: top; width: 45%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Name:&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
Paul de Quant</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Title:&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
Manager</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 44%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 11%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td colspan="2" style="vertical-align: top; width: 45%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr><tr>
<td style="vertical-align: bottom; width: 44%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td colspan="3" style="vertical-align: top; width: 56%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold; color: #000000">
THIRD EYE CAPITAL ALTERNATIVE CREDIT TRUST</font><font style="color: #000000">by its Manager</font> <font style="font-weight: bold; color: #000000">THIRD EYE CAPITAL MANAGEMENT
INC.</font></font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 44%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td colspan="2" style="vertical-align: top; width: 53%; border-bottom: 2px solid #000000">
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Per:
/s/ Arif N.
Bhalwani&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 3%; border-bottom: 2px solid #000000">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 44%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 11%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td colspan="2" style="vertical-align: top; width: 45%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Name:&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
Arif N. Bhalwani</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 44%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 11%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td colspan="2" style="vertical-align: top; width: 45%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Title:&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
Portfolio Manager</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 44%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 11%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td colspan="2" style="vertical-align: top; width: 45%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 44%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 11%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td colspan="2" style="vertical-align: top; width: 45%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 44%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 11%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td colspan="2" style="vertical-align: top; width: 45%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 44%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 11%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td colspan="2" style="vertical-align: top; width: 45%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr></table>
</div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-style: italic; font-family: Times New Roman; font-size: 13px">
Signature Page to Amendment No. 2</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.4
<SEQUENCE>3
<FILENAME>amtx_ex104.htm
<DESCRIPTION>SECOND AMENDED AND RESTATED LIMITED GUARANTY
<TEXT>
<html>
<head>
<!-- Document created using Blueprint(R) - powered by Issuer Direct - www.issuerdirect.com -->
<!-- Copyright 2018 Issuer Direct Corporation -->
<title>Blueprint</title>
</head>
<body style="font-family: Times New Roman; font-size: 13px;">
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<font style="font-family: Times New Roman; font-size: 13px">Exhibit
10.4</font></div>
</div>
</div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-variant: small-caps; font-family: Times New Roman; font-size: 13px">
</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-variant: small-caps; font-family: Times New Roman; font-size: 13px">
SECOND AMENDED &amp; RESTATED LIMITED GUARANTY</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px">
<font style="font-family: Times New Roman; font-size: 13px">This
SECOND AMENDED &amp; RESTATED LIMITED GUARANTY (this
&#x201C;<font style="text-decoration: underline">Limited
Guaranty</font>&#x201D;), dated as of December 3, 2018, is made by
AEMETIS, INC. (the &#x201C;<font style="text-decoration: underline">Parent Guarantor</font>&#x201D;) and
Aemetis Advanced Products Keyes, Inc. (&#x201C;<font style="text-decoration: underline">AAPK</font>&#x201D; and collectively
with the Parent Guarantor, the &#x201C;<font style="text-decoration: underline">Guarantors</font>&#x201D;), in favor of
THIRD EYE CAPITAL CORPORATION, as administrative agent and
collateral agent for and on behalf of the Noteholders (as defined
in the Note Purchase Agreement referred to below) (in such
aforesaid capacities, or any successor or assign in such
capacities, the &#x201C;<font style="text-decoration: underline">Agent</font>&#x201D;).</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
PRELIMINARY STATEMENTS:</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(1)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Goodland
Advanced Fuels, Inc., a Delaware corporation (the
&#x201C;<font style="text-decoration: underline">Borrower</font>&#x201D;), the
Noteholders from time to time party thereto, and the Agent have
entered into that certain Note Purchase Agreement dated as of June
30, 2017 (as amended by the Amendment No. 1 to Note Purchase
Agreement dated June 28, 2018 (the &#x201C;<font style="text-decoration: underline">First Amendment</font>&#x201D;), the
Amendment No. 2 to Note Purchase Agreement dated as of December 3,
2018 (the &#x201C;<font style="text-decoration: underline">Second
Amendment</font>&#x201D;) and as may be further amended, varied,
supplemented, restated, renewed or replaced at any time and from
time to time, the &#x201C;<font style="text-decoration: underline">Note Purchase
Agreement</font>&#x201D;).</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(2)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">Pursuant
to the Note Purchase Agreement, the Noteholders have agreed to make
Loans from time to time to the Borrower, upon the terms and subject
to the conditions set forth therein.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(3)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">The
Borrower and each Guarantor</font> have entered into separate
Intercompany Revolving Promissory Notes dated as of June 30, 2017
(as amended, varied, supplemented, restated, renewed or replaced at
any time and from time to time, the &#x201C;<font style="text-decoration: underline">Intercompany Revolving
Notes</font>&#x201D;) pursuant to which the Borrower may, from time
to time, lend a portion of the proceeds of Revolving Advances
incurred under the Note Purchase Agreement to each
Guarantor.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(4)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">This
Limited Guaranty is secured by a first priority lien, subject to
liens existing in connection with the Existing Agreement, pursuant
to separate General Security Agreements entered into by each
Guarantor.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(5)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">Pursuant
to the First Amendment, the Noteholders and the Agent agreed to
increase the Term Loan Commitment by an amount equal to $1,575,000,
being the Subsequent Term Loan amount, and the Borrower agreed to
issue Term Notes evidencing such Subsequent Term Loan amount to the
Noteholders in order to provide working capital to the Parent
Guarantor and its subsidiaries in order to satisfy and pay certain
outstanding property tax arrears.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(6)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">Pursuant
to the Second Amendment, the Noteholders and the Agent agreed to
increase the Term Loan Com</font><font style="color: #000000">mitment by an amount equal to $3,500,000, being
the CO2 Term Loan amount, and the Borrower agreed to issue Term
Notes evidencing such CO2 Term Loan amount to the Noteholders in
order to advance funds to Aemetis Property Keyes, Inc., an
indirect, wholly-owned subsidiary of Parent Guarantor
(&#x201C;</font><font style="text-decoration: underline; color: #000000">APKI</font><font style="color: #000000">&#x201D;)
in order to permit APKI to complete the CO2 Transaction (as defined
in the Second Amendment) in accordance with the terms and
conditions set forth in the Second Amendment. In connection
therewith, each Guarantor agreed to enter into this Limited
Guaranty, thereby guaranteeing the obligations of the Borrower with
respect to the Guaranteed Obligations (as defined below), in
addition to and not in derogation of, their other obligations
herein and in the Note Purchase Documents.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(7)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">Prior
to the Aemetis Option Exercise Date, this Limited Guaranty
guarantees the Guaranteed Obligations in an amount not to exceed
the Guaranty Limit. On and after the Aemetis Option Exercise Date,
this Limited Guaranty shall guarantee the Guaranteed Obligations
without giving effect to the Guaranty Limit.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div id="ftr">
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(8)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;It
is a condition precedent to the obligation of the Noteholders to
make Loans under the Note Purchase Agreement that the Guarantors
shall have executed and delivered this Limited Guaranty to the
Agent, for the benefit of the Agent, the Noteholders from time to
time party to the Note Purchase Agreement and any other holder of
any Note Indebtedness (collectively with the Agent and the
Noteholders, the &#x201C;<font style="text-decoration: underline">Secured
Parties</font>&#x201D;).</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(9)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">The
Guarantors will derive substantial direct and indirect benefit from
the transactions contemplated by the Note Purchase Agreement,
including without limiting the generality of the foregoing, with
respect to the transactions contemplated by the Second
Amendment.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(10)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">Effective
on the date hereof, the Amended and Restated Limited Guaranty dated
June 28, 2018 (the &#x201C;</font><font style="font-weight: bold; color: #000000">Original
Guaranty</font><font style="color: #000000">&#x201D;) has been
amended and restated in its entirety hereby pursuant to the terms
and conditions hereof. Such amendment and restatement of the
Original Guaranty shall not be construed to discharge or otherwise
affect any obligations of the Guarantors accrued or otherwise owing
under the Original Guaranty that have not been paid or otherwise
satisfied, it being understood that such obligations shall continue
as obligations under this Limited Guaranty. Without limiting the
generality of the foregoing, this Limited Guaranty is not intended
to and shall not constitute a novation of the Original
Guaranty.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table">
<div style="display: table-row">
<div style="display: table-cell; width: 48px"><font style="font-family: Times New Roman; font-size: 13px"><font style="font-size: 13px">1.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px"><font style="text-decoration: underline">DEFINITIONS</font>. Capitalized terms
used but not otherwise defined herein shall have the meanings
assigned to them in the Note Purchase Agreement. In addition, when
used herein:</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="text-decoration: underline">Aemetis Option Exercise
Date</font>&#x201D; shall mean the date upon which the Aemetis
Option is exercised in accordance with its terms;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="text-decoration: underline">Existing Agreement</font>&#x201D; shall
mean that certain Amended and Restated Note Purchase Agreement
dated as of July 6, 2012, as amended, restated, supplemented,
revised or replaced from time to time, among the borrowers party
thereto, Parent Guarantor, the noteholders party thereto and Third
Eye Capital Corporation, an Ontario corporation, in its capacity as
agent for and on behalf of the noteholders party thereto and each
document or agreement entered into in connection therewith;
and</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 48px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="text-decoration: underline">Guaranty Limit</font>&#x201D; shall
mean an amount equal to the sum of: (a) the aggregate amount of
Note Indebtedness advanced by the Borrower to each Guarantor under
and in accordance with the Intercompany Revolving Notes
(irrespective of which Guarantor is the obligor under any
particular Intercompany Revolving Note); (b) the aggregate amount
of Note Indebtedness with respect to the Subsequent Term Loan; (c)
the aggregate amount of Note Indebtedness with respect to the CO2
Term Loan; and (d) the obligations of the Guarantors under
<font style="text-decoration: underline">Section 4.12</font>
hereof.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table">
<div style="display: table-row">
<div style="display: table-cell; width: 48px"><font style="font-family: Times New Roman; font-size: 13px"><font style="font-size: 13px">2.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px"><font style="text-decoration: underline">THE GUARANTY</font>.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">2.1&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline">Limited Guaranty of
Guaranteed Obligations</font>. The Guarantors unconditionally,
jointly and severally, guarantee to the Agent, on behalf of the
Secured Parties, and their respective successors, endorsees,
transferees and assigns, the prompt payment and performance of all
Note Indebtedness, whether such obligations constitute principal,
interest, expenses, indemnification expenses or other obligations
(collectively, the &#x201C;<font style="text-decoration: underline">Guaranteed Obligations</font>&#x201D;);
<font style="text-decoration: underline">provided</font> that prior
to the Aemetis Option Exercise Date, the aggregate obligations and
liabilities of the Guarantor hereunder shall not at any time or in
any event or circumstance exceed the Guaranty Limit and
<font style="text-decoration: underline">provided</font>,
<font style="text-decoration: underline">further</font>, that on
and after the Aemetis Option Exercise Date, this Limited Guaranty
will no longer give effect to and shall be construed as excluding
the term &#x201C;Guaranty Limit&#x201D;. All payments under this
Limited Guaranty shall be made in United States Dollars in
immediately available funds within five (5) Business Days after the
Agent&#x2019;s demand therefor.<a name="_Toc103054020"><!--anchor--></a></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">2</font></div>
</div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">2.2&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline; color: #000000">Guarantee
Absolute</font><font style="color: #000000">. The Guarantors
guarantee that the Guaranteed Obligations will be paid strictly in
accordance with their terms regardless of any law, regulation or
order now or hereafter in effect in any jurisdiction affecting any
of such terms or the rights of the Agent and/or Secured Parties
with respect thereto. The liability of the Guarantors hereunder
shall be primary, absolute and unconditional irrespective
of:</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(a)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">any
lack of validity or enforceability of the</font> Note Indebtedness
<font style="color: #000000">or the Guaranteed Obligations or any
agreement or instrument relating thereto;</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(b)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">any
change in the time, manner or place of the payment of, or in any
other term of, all or any of the</font> Note Indebtedness
<font style="color: #000000">or the Guaranteed Obligations, or any
amendment or modification of or any consent to departure from this
Limited Guaranty or any other Note Purchase
Document;</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(c)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">any
exchange, release, unopposability or nonperfection of any
Collateral or any release or amendment to, waiver of, or consent to
departure from, or any guarantee for, all or any part of the Note
Indebtedness or the Guaranteed Obligations;</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(d)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">any
whole or partial termination of this Limited Guaranty;
or</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(e)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">any
other circumstance which might otherwise constitute a defense
available to, or a discharge of, any Obligor in respect of
the</font> Note Indebtedness<font style="color: #000000">.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">2.3&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Consents,
Waivers and Renewals</font>. The Guarantors hereby renounce the
benefits of division and discussion. The Guarantors hereby waive
promptness, diligence, notice of the acceptance hereof, notice of
intent to accelerate and notice of acceleration and any other
notice with respect to any of the Note Indebtedness or the
Guaranteed Obligations, this <font style="color: #000000">Limited
Guaranty</font> or the other Note Purchase Documents and any
requirement that the Agent and/or Secured Parties protect, secure,
perfect, render opposable or insure any Agent&#x2019;s Lien or Lien
on any Property subject thereto or exhaust any right or take any
action against any other Person or any Collateral before proceeding
hereunder. The Guarantors agree that the Agent and/or Secured
Parties may at any time and from time to time, either before or
after the maturity of the Note Indebtedness, without notice to or
further consent of any Guarantor or any other Person extend the
time of payment of, exchange or surrender any Collateral for, or
renew any of the Note Indebtedness or the Guaranteed Obligations,
and may also make any agreements with any other party to or Person
liable on any of the Note Indebtedness, or interested therein, for
the extension, renewal, payment, compromise, discharge, or release
thereof, in whole or in part, or for any modification of the terms
thereof or of any agreement between the Agent and/or any
Noteholders and the Borrower or any such other party or Person,
without in any way impairing or affecting this Limited Guaranty.
The Guarantors agree to make payment to the Agent, for the ratable
benefit of the Secured Parties, of any of the Note Indebtedness and
the Guaranteed Obligations whether or not the Agent and/or any
Secured Parties shall have resorted to any collateral security, or
shall have proceeded against any other obligor principally or
secondarily obligated with respect to any of the Note Indebtedness
or the Guaranteed Obligations. Each Guarantor hereby irrevocably
renounces every right it may acquire to be released from its
guarantee pursuant to applicable law. At the request of the Agent
or any Secured Party, made at any time, the Guarantors shall renew
the Limited Guaranty hereunder by executing such documents for this
purpose as may be reasonably requested by the Agent.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">2.4&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Reinstatement</font>.
If at any time any payment in respect of any of the Guaranteed
Obligations is rescinded or must otherwise be returned for any
reason whatsoever, in whole or in part, the Guarantors&#x2019;
obligations hereunder shall (x) revive and remain in full force and
effect or (y) be reinstated (as the case may be) with respect to
such Guaranteed Obligations, in any case, subject to the Guaranty
Limit.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">3</font></div>
</div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">2.5&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Payments</font>.
All payments made by, or on behalf of, the Guarantors hereunder
will be made without setoff, counterclaim or other
defense.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">2.6&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Subrogation</font>.
The Guarantors shall not exercise any rights which it may acquire
by way of subrogation under this Limited Guaranty or the other Note
Purchase Documents, by any payment made hereunder or otherwise,
until all the Note Indebtedness and the Guaranteed Obligations
shall have been paid in full. If any amount shall be paid to the
Borrower on account of such subrogation rights in violation of the
foregoing restriction, such amount shall be held in trust and as
mandatary for the benefit of the Agent (for itself and the other
Secured Parties) and shall forthwith be paid to the Agent (for
itself and the other Secured Parties) to be credited and applied to
the Note Indebtedness, whether matured or unmatured.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">2.7&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Postponement
and Subordination</font>. Guarantors hereby postpone any right of
enforcement, remedy and action and subordinate any claims,
including any right of payment, subrogation, contribution and
indemnity that they may have at any time against any Obligor or any
other guarantor, howsoever arising, to irrevocable payment in full
of the Note Indebtedness. Any such claims (whether secured or
unsecured) and any such remedial rights are hereby assigned or
hypothecated to Agent and the Secured Parties (and shall be
assigned or hypothecated pursuant to documentation satisfactory to
Agent), and any such claims owing and paid to the Guarantors in
contravention of the terms of this <font style="color: #000000">Limited Guaranty</font> shall be received and held
by such Guarantor in trust and as agent and mandatary for the
benefit of Agent and the Secured Parties and the proceeds thereof
shall forthwith be paid over to Agent to be credited and applied to
the Note Indebtedness, whether matured or unmatured, in accordance
with the terms of this <font style="color: #000000">Limited
Guaranty</font>. In furtherance of the foregoing, any and all Liens
held by the Guarantors shall for all purposes be, and at all times
remain, inferior, junior and subordinate to the Liens from time to
time held by the Agent under the Security Documents; without
limiting the generality of the foregoing, the foregoing priority
shall prevail in all circumstances and irrespective of: (i) the
priorities otherwise accorded to any such Liens by any applicable
law; (ii) the time or order of the creation, granting, execution or
delivery of the Note Indebtedness, the Note Purchase Documents or
any other deed, document, instrument, act or notice; (iii) the time
or order of the attachment or perfection or setting-up of the
security interests and hypothecs constituted by any such Liens;
(iv) the time or order of registration, notification or publication
of any such Liens or the filing of financing statements or other
instruments and documents with respect thereto; (v) the time of the
making of advances and other credits under the Note Indebtedness;
or (vi) the giving of, or the failure to give, any notice to the
Guarantors or the time of giving of any such notice; in addition,
the Guarantors hereby cede priority of rank and payment to the
Agent and the Secured Parties in all respects to the extent
necessary to give full effect to the foregoing.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">2.8&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Waivers</font>.
In addition to the waivers contained in <font style="text-decoration: underline">Section 2.3</font> hereof, the
Guarantors waive, and agree to the fullest extent permitted by law
that they shall not at any time insist upon, plead or in any manner
whatever claim or take the benefit or advantage of, any appraisal,
valuation, stay, extension, marshaling of assets or redemption
laws, or exemption, whether now or at any time hereafter in force,
which may delay, prevent or otherwise affect the performance by the
Guarantors of the Guaranteed Obligations hereunder (subject to the
Guaranty Limit) or the enforcement by the Agent of, this Limited
Guaranty. The Guarantors hereby waive, to the fullest extent
permitted by law, diligence, presentment and demand (whether for
the benefit of any statute of limitations affecting each
Guarantor&#x2019;s liability hereunder or the enforcement hereof,
non-payment or protest or of acceptance, extension of time, change
in nature or form of the Guaranteed Obligations, acceptance of
further security, release of further security, composition or
agreement arrived at as to the amount of, or the terms of, the
Guaranteed Obligations, notice of adverse change in the
Borrower&#x2019;s financial condition or any other fact which might
increase the risk to the Guarantors) with respect to any of the
Guaranteed Obligations or all other demands whatsoever and waives,
to the fullest extent permitted by law, the benefit of all
provisions of law which are or might be in conflict with the terms
of this Limited Guaranty.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">4</font></div>
</div>
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="display: table">
<div style="display: table-row">
<div style="display: table-cell; width: 48px"><font style="font-family: Times New Roman; font-size: 13px"><font style="font-size: 13px">3.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px"><font style="text-decoration: underline">REPRESENTATIONS AND
WARRANTIES</font>.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">3.1&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;To
induce the Agent and the other Secured Parties to enter into the
transactions contemplated by the Note Purchase Documents, each
Guarantor makes the following representations and warranties to the
Agent and each Secured Party, each and all of which shall survive
the execution and delivery of this Limited Guaranty: Each Guarantor
(i) has relied exclusively on such Guarantor&#x2019;s own
independent investigation of the Borrower for such
Guarantor&#x2019;s decision to guarantee the Guaranteed Obligations
now existing or thereafter arising (subject to the Guaranty Limit),
(ii) has sufficient knowledge of the Borrower to make an informed
decision about this Limited Guaranty, and neither the Agent nor any
other Secured Party has any duty or obligation to disclose any
information in its possession or control about the Borrower to any
Guarantor, and (iii) has adequate means to obtain from the Borrower
on a continuing basis information concerning the financial
condition of the Borrower and is not relying on the Agent or any
other Secured Party to provide such information either now or in
the future.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">3.2&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;In
addition, each Guarantor represents and warrants to the Agent and
the Secured Parties as follows:</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 96px">
<font style="font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Each
Guarantor has had the opportunity to discuss the terms and
conditions of the Note Purchase Documents and the Aemetis Option
with its own counsel and has relied on such counsel&#x2019;s advice
with respect to the Note Purchase Documents and the Aemetis Option
in conjunction with the execution of this Limited
Guaranty.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 96px">
<font style="font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
Each Guarantor makes the additional representations and warranties
set forth on <font style="text-decoration: underline">Exhibit
A</font> hereto.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table">
<div style="display: table-row">
<div style="display: table-cell; width: 48px"><font style="font-family: Times New Roman; font-size: 13px"><font style="font-size: 13px">4.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px"><font style="text-decoration: underline">OTHER TERMS</font>.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">4.1&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Covenants</font>.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Each
Guarantor makes the covenants set forth on <font style="text-decoration: underline">Exhibit B</font> hereto.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-size: 13px">(b</font>)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Subject
to the terms of the Existing Agreement, e<font style="font-size: 13px">ach Guarantor shall be required to, and hereby
agrees to, contribute (i) 100% of the net cash proceeds received by
such Guarantor from (i) the EB-5 Program Issuance to the Borrower
and thereafter cause the Borrower to use 100% of such proceeds to
make a mandatory prepayment on the Term Loan under and in
accordance with Section 2.4(b)(ii) of the Note Purchase Agreement
and (ii) certain of the net cash proceeds received by such
Guarantor from the Linde Contract (as defined in the Second
Amendment) in accordance with Section 2.4(d) of the Note Purchase
Agreement.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">4.2&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Amendments</font>.
This Limited Guaranty may not be amended or modified except by the
written agreement of the Guarantors and the Agent.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">4.3&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Waiver</font>.
No waiver of any provision of this Limited Guaranty, and no consent
to any departure by the Guarantors herefrom, shall in any event be
effective unless the same shall be in writing and signed by the
Agent, and then such waiver or consent shall be effective only in
the specific instance and for the specific purpose for which given.
No failure on the part of the Agent or any other Secured Party to
exercise, and no delay in exercising any right hereunder, shall
operate as a waiver thereof; nor shall any single or partial
exercise of any such right preclude any other or further exercise
thereof or the exercise of any other right.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">5</font></div>
</div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">4.4&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Notices</font>.
All notices, requests and demands and other communications to or
upon the Agent or any Obligor hereunder shall be effected in the
manner provided for in <font style="text-decoration: underline">Section 8.2</font> of the Note
Purchase Agreement; provided that any notice, request, demand or
other communication to the Guarantors shall be addressed to each
Guarantor at its address on the signature page to this <font style="color: #000000">Limited Guaranty.</font> Notices sent by hand or
overnight courier service, or mailed by certified or registered
mail, shall be deemed to have been given when received; notices
sent by facsimile shall be deemed to have been given when sent
(except that, if not given during normal business hours for the
recipient, shall be deemed to have been given at the opening of
business on the next Business Day for the recipient).</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">4.5&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline; color: #000000">Severability</font><font style="color: #000000">.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">Any
provision of this Limited Guaranty which is prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction,
be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions
hereof, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such
provision in any other jurisdiction.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">4.6&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline; color: #000000">Section
Headings</font><font style="color: #000000">. The Section headings
used in this Limited Guaranty are for convenience of reference only
and are not to affect the construction hereof or be taken into
consideration in the interpretation hereof.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">4.7&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Counterparts</font>.
This Limited Guaranty may be executed in any number of counterparts
and by different parties hereto in separate counterparts, each of
which when so executed shall be deemed to be an original and all of
which taken together shall constitute one and the same agreement.
Delivery of an executed counterpart of a signature page of this
document by facsimile or other electronic means shall be effective
as delivery of a manually executed counterpart of this Limited
Guaranty.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">4.8&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline; color: #000000">Submission
to Jurisdiction; Waivers</font><font style="color: #000000">.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 3px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 13px">(a)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="font-style: italic; color: #000000">Jurisdiction</font><font style="color: #000000">.
EACH GUARANTOR IRREVOCABLY AND UNCONDITIONALLY AGREES THAT IT WILL
NOT COMMENCE ANY ACTION, LITIGATION OR PROCEEDING OF ANY KIND OR
DESCRIPTION, WHETHER IN LAW OR EQUITY, WHETHER IN CONTRACT OR IN
TORT OR OTHERWISE, AGAINST ANY SECURED PARTY OR ANY RELATED PARTY
OF ANY SECURED PARTY IN ANY WAY RELATING TO THIS LIMITED GUARANTY
OR ANY OTHER NOTE PURCHASE DOCUMENT OR THE TRANSACTIONS RELATING
HERETO OR THERETO, IN ANY FORUM OTHER THAN THE COURTS OF THE STATE
OF NEW YORK SITTING IN NEW YORK COUNTY AND OF THE UNITED STATES
DISTRICT COURT OF THE SOUTHERN DISTRICT OF NEW YORK, AND ANY
APPELLATE COURT FROM ANY THEREOF, AND EACH OF THE PARTIES HERETO
IRREVOCABLY AND UNCONDITIONALLY SUBMITS TO THE JURISDICTION OF SUCH
COURTS AND AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION,
LITIGATION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW
YORK STATE COURT OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE
LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES HERETO AGREES THAT
A FINAL JUDGMENT IN ANY SUCH ACTION, LITIGATION OR PROCEEDING SHALL
BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON
THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. NOTHING IN
THIS LIMITED GUARANTY OR IN ANY OTHER NOTE PURCHASE DOCUMENT SHALL
AFFECT ANY RIGHT THAT ANY SECURED PARTY MAY OTHERWISE HAVE TO BRING
ANY ACTION OR PROCEEDING RELATING TO THIS LIMITED GUARANTY OR ANY
OTHER NOTE PURCHASE DOCUMENT AGAINST THE PLEDGOR OR ANY OTHER
OBLIGOR OR ITS PROPERTIES IN THE COURTS OF ANY
JURISDICTION.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">6</font></div>
</div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 3px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 13px">(b)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="font-style: italic; color: #000000">Waiver
of Venue</font><font style="color: #000000">. Each Guarantor
irrevocably and unconditionally waives, to the fullest extent
permitted by applicable law, any objection that it may now or
hereafter have to the laying of venue of any action or proceeding
arising out of or relating to this Limited Guaranty in any court
referred to in paragraph (a) of this Section. Each of the parties
hereto hereby irrevocably waives, to the fullest extent permitted
by applicable law, the defense of an inconvenient forum to the
maintenance of such action or proceeding in any such
court.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 3px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 13px">(c)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="font-style: italic; color: #000000">Service
of Process</font><font style="color: #000000">. Each party
irrevocably consents to service of process in the manner provided
for notices in</font> <font style="text-decoration: underline; color: #000000">Section
4.4</font><font style="color: #000000">. Nothing in this Limited
Guaranty will affect the right of any party hereto to serve process
in any other manner permitted by applicable
law.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 3px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 13px">(d)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="font-style: italic; color: #000000">Waiver</font><font style="color: #000000">.
Each Guarantor hereby waives, to the maximum extent not prohibited
by law, any right it may have to claim or recover in any legal
action or proceeding referred to in this Section any special,
exemplary punitive or consequential damages.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">4.9&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline; color: #000000; font-size: 13px">Governing
Law</font><font style="color: #000000; font-size: 13px">. THIS
LIMITED GUARANTY AND THE RIGHTS AND OBLIGATIONS HEREUNDER OF THE
GUARANTORS, THE BORROWER AND THE SECURED PARTIES AND ANY CLAIMS,
CONTROVERSY, DISPUTE OR CAUSE OF ACTION (WHETHER IN CONTRACT OR
TORT OR OTHERWISE) BASED UPON, ARISING OUT OF OR RELATING TO THIS
LIMITED GUARANTY AND THE TRANSACTIONS CONTEMPLATED HEREBY SHALL BE
GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE
OF NEW YORK.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">4.10&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="font-weight: bold; text-decoration: underline; color: #000000; font-size: 13px">WAIVER
OF JURY TRIAL</font><font style="font-weight: bold; color: #000000; font-size: 13px">. EACH PARTY
WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY
RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING
DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS</font>
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
LIMITED GUARANTY</font> <font style="font-weight: bold; color: #000000; font-size: 13px">OR ANY
TRANSACTION CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR
ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO
REPRESENTATIVE, AGENT OR ATTORNEY OF ANY SECURED PARTY HAS
REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH SECURED PARTY WOULD
NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING
WAIVER AND (B) ACKNOWLEDGES THAT THE SECURED PARTIES HERETO HAVE
BEEN INDUCED TO ENTER INTO THIS</font> <font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
LIMITED GUARANTY</font> <font style="font-weight: bold; color: #000000; font-size: 13px">BY, AMONG
OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS</font>
<font style="font-weight: bold; color: #000000">SECTION.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">4.11&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Assignment</font>.
This Limited Guaranty shall be binding on, and shall inure to the
benefit of the Guarantors, the Agent, each Secured Party and their
respective successors and assigns; <font style="text-decoration: underline">provided</font> that no Guarantor may
assign or transfer its rights or obligations under this Limited
Guaranty without the written consent of the Agent.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">7</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">4.12&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline; color: #000000">Indemnity
and Expenses</font><font style="color: #000000">. (a) The
Guarantors, jointly and severally, agree to indemnify the Agent,
each Noteholder and each Related Party of any of the foregoing
Persons (each such Person being called an
&#x201C;</font><font style="font-weight: bold; color: #000000">Indemnitee</font><font style="color: #000000">&#x201D;)
against, and hold each Indemnitee harmless from, any and all
losses, claims, damages, liabilities and related costs and expenses
(including the fees, charges and disbursements of any counsel for
any Indemnitee), incurred by any Indemnitee or asserted against any
Indemnitee by any Person (including an Obligor) arising out of, in
connection with, or as a result of (i) the execution or delivery of
this Limited Guaranty, any other Note Purchase Document or any
agreement or instrument contemplated hereby or thereby, the
performance by the parties hereto of their respective obligations
hereunder or thereunder or the consummation of the transactions
contemplated hereby or thereby, (ii) the use or proposed use of the
proceeds therefrom, or (iii) any actual or prospective claim,
litigation, investigation or proceeding relating to any of the
foregoing, whether based on contract, tort or any other theory,
whether brought by a third party or by any Obligor; provided that
such indemnity shall not, as to any Indemnitee, be available to the
extent that such losses, claims, damages, liabilities or related
expenses (x) are determined by a court of competent jurisdiction by
final and nonappealable judgment to have resulted from the gross
negligence or willful misconduct of such Indemnitee or (y) result
from a claim brought by any Obligor against an Indemnitee for a
material breach in bad faith of such Indemnitee&#x2019;s obligations
hereunder or under any other Note Purchase Document, if any such
Obligor has obtained a final and nonappealable judgment in its
favor on such claim as determined by a court of competent
jurisdiction.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(b)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">The
Guarantors shall not, without the prior written consent of the
applicable Indemnitee(s), effect any settlement of any pending or
threatened claim, litigation, investigation or proceeding in
respect of which such Indemnitee is a party and indemnity could
have been sought hereunder by such Indemnitee, unless such
settlement (i) includes an unconditional release of such Indemnitee
from all liability or claims that are the subject matter of such
proceeding and (ii) does not include a statement as to or an
admission of fault, culpability, or a failure to act by or on
behalf of such Indemnitee.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(c)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">The
Guarantors will upon demand, jointly and severally, pay to the
Agent the amount of any and all expenses, including, without
limitation, the fees and expenses of its counsel and of any experts
and agents, that the Agent or any Secured Party may incur in
connection with (i) the exercise or enforcement of any of the
rights of the Agent or the other Secured Parties hereunder or (ii)
the failure by any Guarantor to perform or observe any of the
provisions hereof.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(d)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;The
agreements in this <font style="text-decoration: underline">Section
4.12</font> shall survive repayment of the Note Indebtedness and
all other amounts payable under the Note Purchase Agreement and the
other Note Purchase Documents.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Times New Roman; font-size: 13px">[SIGNATURE PAGE
FOLLOWS<font style="font-variant: small-caps">]</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">8</font></div>
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</div>
</div>
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<font style="font-family: Times New Roman; font-size: 13px">IN
WITNESS WHEREOF, the parties hereto have executed and delivered
this Limited Guaranty as of the date first above
written.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">AEMETIS, INC., as a
Guarantor</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">By:
<font style="text-decoration: underline; font-size: 13px">s/ Eric
A.
McAfee&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</font><br>
</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Name:
Eric McAfee</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Title:
CEO</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">AEMETIS
ADVANCED PRODUCTS KEYES, INC., as a Guarantor</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">By:
<font style="text-decoration: underline; font-size: 13px">s/ Eric
A.
McAfee&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</font><br>
</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Name:
Eric McAfee</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Title:
CEO</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="text-decoration: underline">Address for Notices to each
Guarantor</font>:</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">20400
Stevens Creek Blvd, Suite 700</font></div>
<div style="text-align: left; margin-left: 240px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">Cupertino, CA
95014</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Attention:&#xA0;
Chief Executive Officer</font></div>
<div style="text-align: left; margin-left: 240px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">Telephone:&#xA0;408-390-3275</font></div>
<div style="text-align: left; margin-left: 240px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">Facsimile:&#xA0;408-252-8044</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">THIRD
EYE CAPITAL CORPORATION, as the Agent</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;"><font style="font-family: Times New Roman; font-size: 13px">By: <font style="text-decoration: underline; font-size: 13px">/s/ Arif N. Bhalwani
&#xA0; &#xA0; &#xA0; &#xA0; &#xA0; &#xA0; &#xA0; &#xA0; &#xA0;
&#xA0; &#xA0;&#xA0;</font></font>&#xA0;<br></font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Name:
Arif N. Bhalwani</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Title:
Managing Director</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Signature
Page to Second A&amp;R Limited Guaranty</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: -288px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="text-decoration: underline">Acknowledged and
Agreed</font>:</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">GOODLAND
ADVANCED FUELS, INC.,</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">as the
Borrower</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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<div style="display: table-row">
<div style="display: table-cell; width: 336px"><font style="font-family: Times New Roman; font-size: 13px">By: <font style="text-decoration: underline; font-size: 13px">/s/ Michael Peterson
&#xA0; &#xA0; &#xA0; &#xA0; &#xA0; &#xA0; &#xA0; &#xA0; &#xA0;
&#xA0; &#xA0; &#xA0; &#xA0;</font> &#xA0;<br></font></div>
</div>
</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Name:
Michael Peterson</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Title:
CEO</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
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<DOCUMENT>
<TYPE>EX-10.7
<SEQUENCE>4
<FILENAME>amtx_ex107.htm
<DESCRIPTION>LIMITED GUARANTY, BY AND BETWEEN AEMETIS PROPERTY KEYES, INC. AND THIRD EYE CAPITAL CORPORATION
<TEXT>
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<font style="font-family: Times New Roman; font-size: 13px">Exhibit
10.7</font></div>
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<font style="font-weight: bold; font-variant: small-caps; font-family: Times New Roman; font-size: 13px">
LIMITED GUARANTY</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px">
<font style="font-family: Times New Roman; font-size: 13px">This
LIMITED GUARANTY (this &#x201C;<font style="text-decoration: underline">Limited Guaranty</font>&#x201D;), dated
as of December 3, 2018, is made by AEMETIS PROPERTY KEYES, INC.
(the &#x201C;<font style="text-decoration: underline">Guarantor</font>&#x201D;), in favor of
THIRD EYE CAPITAL CORPORATION, as administrative agent and
collateral agent for and on behalf of the Noteholders (as defined
in the Note Purchase Agreement referred to below) (in such
aforesaid capacities, or any successor or assign in such
capacities, the &#x201C;<font style="text-decoration: underline">Agent</font>&#x201D;).</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
PRELIMINARY STATEMENTS:</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(1)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Goodland
Advanced Fuels, Inc., a Delaware corporation (the
&#x201C;<font style="text-decoration: underline">Borrower</font>&#x201D;), the
Noteholders from time to time party thereto, and the Agent have
entered into that certain Note Purchase Agreement dated as of June
30, 2017 (as amended by the Amendment No. 1 to Note Purchase
Agreement dated June 28, 2018, the Amendment No. 2 to Note Purchase
Agreement dated as of December 3, 2018 (&#x201C;<font style="text-decoration: underline">Second Amendment</font>&#x201D;) and as
may be further amended, varied, supplemented, restated, renewed or
replaced at any time and from time to time, the &#x201C;<font style="text-decoration: underline">Note Purchase
Agreement</font>&#x201D;).</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(2)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">Pursuant
to the Note Purchase Agreement, the Noteholders have agreed to make
Loans from time to time to the Borrower, upon the terms and subject
to the conditions set forth therein.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(3)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">The
Borrower and Guarantor have entered into a separate Intercompany
Revolving Promissory Note dated as of the date hereof (as amended,
varied, supplemented, restated, renewed or replaced at any time and
from time to time, the &#x201C;</font><font style="text-decoration: underline; color: #000000">Buyer Intercompany
Revolving Note</font><font style="color: #000000">&#x201D;, together
with the AAPK Intercompany Note and the Parent Intercompany Note,
the &#x201C;</font><font style="text-decoration: underline; color: #000000">Intercompany Revolving
Notes</font><font style="color: #000000">&#x201D;) pursuant to which
the Borrower may, from time to time, lend a portion of the proceeds
of the CO2 Term Loan incurred under the Note Purchase Agreement to
Guarantor.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(4)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">This
Limited Guaranty is secured by a first priority lien pursuant to
(i) that certain Deed of Trust, Security Agreement and Fixture
Filing with Assignment of Leases and Rents to Secure Guaranty dated
as of the date hereof by the Borrower for the benefit of the Agent
with respect to certain real property located in the County of
Stanislaus, State of California (as amended, varied, supplemented,
restated, renewed or replaced at any time and from time to time,
the &#x201C;</font><font style="text-decoration: underline; color: #000000">Deed of
Trust</font><font style="color: #000000">&#x201D;), and (ii) that
certain General Security Agreement entered into by
Guarantor.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(5)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">Pursuant
to the Second Amendment, the Noteholders and the Agent agreed to
increase the Term Loan Commitment by an amount equal to $3,500,000,
being the CO2 Term Loan amount, and the Borrower agreed to issue
Term Notes evidencing such CO2 Term Loan amount to the Noteholders
in order to advance funds to the Borrower in order to permit the
Borrower to complete the CO2 Transaction (as defined in the Second
Amendment) in accordance with the terms and conditions set forth in
the Second Amendment. In connection therewith, Guarantor agreed to
enter into this Limited Guaranty, thereby guaranteeing the
obligations of the Borrower with respect to the Guaranteed
Obligations (as defined below), in addition to and not in
derogation of, their other obligations herein and in the Note
Purchase Documents.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(6)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">Prior
to the Aemetis Option Exercise Date, this Limited Guaranty
guarantees the Guaranteed Obligations in an amount not to exceed
the Guaranty Limit. On and after the Aemetis Option Exercise Date,
this Limited Guaranty shall guarantee the Guaranteed Obligations
without giving effect to the Guaranty Limit.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(7)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;It
is a condition precedent to the obligation of the Noteholders to
make Loans under the Note Purchase Agreement that the Guarantor
shall have executed and delivered this Limited Guaranty to the
Agent, for the benefit of the Agent, the Noteholders from time to
time party to the Note Purchase Agreement and any other holder of
any Note Indebtedness (collectively with the Agent and the
Noteholders, the &#x201C;<font style="text-decoration: underline">Secured
Parties</font>&#x201D;).</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(8)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">The
Guarantor will derive substantial direct and indirect benefit from
the transactions contemplated by the Note Purchase Agreement,
including without limiting the generality of the foregoing, with
respect to the transactions contemplated by the Second
Amendment.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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<div style="display: table-row">
<div style="display: table-cell; width: 48px"><font style="font-family: Times New Roman; font-size: 13px"><font style="font-size: 13px">1.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px"><font style="text-decoration: underline">DEFINITIONS</font>. Capitalized terms
used but not otherwise defined herein shall have the meanings
assigned to them in the Note Purchase Agreement. In addition, when
used herein:</font></div>
</div>
</div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="text-decoration: underline">Aemetis Option Exercise
Date</font>&#x201D; shall mean the date upon which the Aemetis
Option is exercised in accordance with its terms.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="text-decoration: underline">Guaranty Limit</font>&#x201D; shall
mean an amount equal to the sum of: (a) the aggregate amount of
Note Indebtedness advanced by the Borrower to each Guarantor under
and in accordance with the Intercompany Revolving Notes
(irrespective of which Guarantor is the obligor under any
particular Intercompany Revolving Note); (b) the aggregate amount
of Note Indebtedness with respect to the Subsequent Term Loan; (c)
the aggregate amount of Note Indebtedness with respect to the CO2
Term Loan; and (d) the obligations of the Guarantor under
<font style="text-decoration: underline">Section 4.12</font>
hereof.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div style="display: table-row">
<div style="display: table-cell; width: 48px"><font style="font-family: Times New Roman; font-size: 13px"><font style="font-size: 13px">2.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px"><font style="text-decoration: underline">THE GUARANTY</font>.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">2.1&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline">Limited Guaranty of
Guaranteed Obligations</font>. The Guarantor unconditionally
guarantees to the Agent, on behalf of the Secured Parties, and
their respective successors, endorsees, transferees and assigns,
the prompt payment and performance of all Note Indebtedness,
whether such obligations constitute principal, interest, expenses,
indemnification expenses or other obligations (collectively, the
&#x201C;<font style="text-decoration: underline">Guaranteed
Obligations</font>&#x201D;); <font style="text-decoration: underline">provided</font> that prior to the
Aemetis Option Exercise Date, the aggregate obligations and
liabilities of the Guarantor hereunder shall not at any time or in
any event or circumstance exceed the Guaranty Limit and,
<font style="text-decoration: underline">provided</font>,
<font style="text-decoration: underline">further</font>, that on
and after the Aemetis Option Exercise Date, this Limited Guaranty
will no longer give effect to and shall be construed as excluding
the term &#x201C;Guaranty Limit&#x201D;. All payments under this
Limited Guaranty shall be made in United States Dollars in
immediately available funds within five (5) Business Days after the
Agent&#x2019;s demand therefor.<a name="_Toc103054197"><!--anchor--></a></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">2.2&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline; color: #000000">Guarantee
Absolute</font><font style="color: #000000">. The Guarantor
guarantees that the Guaranteed Obligations will be paid strictly in
accordance with their terms regardless of any law, regulation or
order now or hereafter in effect in any jurisdiction affecting any
of such terms or the rights of the Agent and/or Secured Parties
with respect thereto. The liability of the Guarantor hereunder
shall be primary, absolute and unconditional irrespective
of:</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(a)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">any
lack of validity or enforceability of the</font> Note Indebtedness
<font style="color: #000000">or the Guaranteed Obligations or any
agreement or instrument relating thereto;</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(b)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">any
change in the time, manner or place of the payment of, or in any
other term of, all or any of the</font> Note Indebtedness
<font style="color: #000000">or the Guaranteed Obligations, or any
amendment or modification of or any consent to departure from this
Limited Guaranty or any other Note Purchase
Document;</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(c)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">any
exchange, release, unopposability or nonperfection of any
Collateral or any release or amendment to, waiver of, or consent to
departure from, or any guarantee for, all or any part of the Note
Indebtedness or the Guaranteed Obligations;</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
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<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(d)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">any
whole or partial termination of this Limited Guaranty;
or</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(e)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">any
other circumstance which might otherwise constitute a defense
available to, or a discharge of, any Obligor in respect of
the</font> Note Indebtedness<font style="color: #000000">.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">2.3&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Consents,
Waivers and Renewals</font>. The Guarantor hereby renounces the
benefits of division and discussion. The Guarantor hereby waives
promptness, diligence, notice of the acceptance hereof, notice of
intent to accelerate and notice of acceleration and any other
notice with respect to any of the Note Indebtedness or the
Guaranteed Obligations, this <font style="color: #000000">Limited
Guaranty</font> or the other Note Purchase Documents and any
requirement that the Agent and/or Secured Parties protect, secure,
perfect, render opposable or insure any Agent&#x2019;s Lien or Lien
on any Property subject thereto or exhaust any right or take any
action against any other Person or any Collateral before proceeding
hereunder. The Guarantor agrees that the Agent and/or Secured
Parties may at any time and from time to time, either before or
after the maturity of the Note Indebtedness, without notice to or
further consent of the Guarantor or any other Person extend the
time of payment of, exchange or surrender any Collateral for, or
renew any of the Note Indebtedness or the Guaranteed Obligations,
and may also make any agreements with any other party to or Person
liable on any of the Note Indebtedness, or interested therein, for
the extension, renewal, payment, compromise, discharge, or release
thereof, in whole or in part, or for any modification of the terms
thereof or of any agreement between the Agent and/or any
Noteholders and the Borrower or any such other party or Person,
without in any way impairing or affecting this Limited Guaranty.
The Guarantor agrees to make payment to the Agent, for the ratable
benefit of the Secured Parties, of any of the Note Indebtedness and
the Guaranteed Obligations whether or not the Agent and/or any
Secured Parties shall have resorted to any collateral security, or
shall have proceeded against any other obligor principally or
secondarily obligated with respect to any of the Note Indebtedness
or the Guaranteed Obligations. Guarantor hereby irrevocably
renounces every right it may acquire to be released from its
guarantee pursuant to applicable law. At the request of the Agent
or any Secured Party, made at any time, the Guarantor shall renew
the Limited Guaranty hereunder by executing such documents for this
purpose as may be reasonably requested by the Agent.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">2.4&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Reinstatement</font>.
If at any time any payment in respect of any of the Guaranteed
Obligations is rescinded or must otherwise be returned for any
reason whatsoever, in whole or in part, the Guarantor&#x2019;s
obligations hereunder shall (x) revive and remain in full force and
effect or (y) be reinstated (as the case may be) with respect to
such Guaranteed Obligations, in any case, subject to the Guaranty
Limit.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">2.5&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Payments</font>.
All payments made by, or on behalf of, the Guarantor hereunder will
be made without setoff, counterclaim or other defense.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">2.6&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Subrogation</font>.
The Guarantor shall not exercise any rights which it may acquire by
way of subrogation under this Limited Guaranty or the other Note
Purchase Documents, by any payment made hereunder or otherwise,
until all the Note Indebtedness and the Guaranteed Obligations
shall have been paid in full. If any amount shall be paid to the
Borrower on account of such subrogation rights in violation of the
foregoing restriction, such amount shall be held in trust and as
mandatary for the benefit of the Agent (for itself and the other
Secured Parties) and shall forthwith be paid to the Agent (for
itself and the other Secured Parties) to be credited and applied to
the Note Indebtedness, whether matured or unmatured.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">3</font></div>
</div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">2.7&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Postponement
and Subordination</font>. Guarantor hereby postpones any right of
enforcement, remedy and action and subordinate any claims,
including any right of payment, subrogation, contribution and
indemnity that they may have at any time against any Obligor or any
other guarantor, howsoever arising, to irrevocable payment in full
of the Note Indebtedness. Any such claims (whether secured or
unsecured) and any such remedial rights are hereby assigned or
hypothecated to Agent and the Secured Parties (and shall be
assigned or hypothecated pursuant to documentation satisfactory to
Agent), and any such claims owing and paid to the Guarantor in
contravention of the terms of this <font style="color: #000000">Limited Guaranty</font> shall be received and held
by the Guarantor in trust and as agent and mandatary for the
benefit of Agent and the Secured Parties and the proceeds thereof
shall forthwith be paid over to Agent to be credited and applied to
the Note Indebtedness, whether matured or unmatured, in accordance
with the terms of this <font style="color: #000000">Limited
Guaranty</font>. In furtherance of the foregoing, any and all Liens
held by the Guarantor shall for all purposes be, and at all times
remain, inferior, junior and subordinate to the Liens from time to
time held by the Agent under the Security Documents; without
limiting the generality of the foregoing, the foregoing priority
shall prevail in all circumstances and irrespective of: (i) the
priorities otherwise accorded to any such Liens by any applicable
law; (ii) the time or order of the creation, granting, execution or
delivery of the Note Indebtedness, the Note Purchase Documents or
any other deed, document, instrument, act or notice; (iii) the time
or order of the attachment or perfection or setting-up of the
security interests and hypothecs constituted by any such Liens;
(iv) the time or order of registration, notification or publication
of any such Liens or the filing of financing statements or other
instruments and documents with respect thereto; (v) the time of the
making of advances and other credits under the Note Indebtedness;
or (vi) the giving of, or the failure to give, any notice to the
Guarantor or the time of giving of any such notice; in addition,
the Guarantor hereby cedes priority of rank and payment to the
Agent and the Secured Parties in all respects to the extent
necessary to give full effect to the foregoing.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">2.8&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Waivers</font>.
In addition to the waivers contained in <font style="text-decoration: underline">Section 2.3</font> hereof, the
Guarantor waives, and agree to the fullest extent permitted by law
that they shall not at any time insist upon, plead or in any manner
whatever claim or take the benefit or advantage of, any appraisal,
valuation, stay, extension, marshaling of assets or redemption
laws, or exemption, whether now or at any time hereafter in force,
which may delay, prevent or otherwise affect the performance by the
Guarantor of the Guaranteed Obligations hereunder (subject to the
Guaranty Limit) or the enforcement by the Agent of, this Limited
Guaranty. The Guarantor hereby waives, to the fullest extent
permitted by law, diligence, presentment and demand (whether for
the benefit of any statute of limitations affecting
Guarantor&#x2019;s liability hereunder or the enforcement hereof,
non-payment or protest or of acceptance, extension of time, change
in nature or form of the Guaranteed Obligations, acceptance of
further security, release of further security, composition or
agreement arrived at as to the amount of, or the terms of, the
Guaranteed Obligations, notice of adverse change in the
Borrower&#x2019;s financial condition or any other fact which might
increase the risk to the Guarantor) with respect to any of the
Guaranteed Obligations or all other demands whatsoever and waives,
to the fullest extent permitted by law, the benefit of all
provisions of law which are or might be in conflict with the terms
of this Limited Guaranty.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">2.9&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Limited
Guaranty Secured by Real Property</font>. This Limited Guaranty is
secured by real property.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table">
<div style="display: table-row">
<div style="display: table-cell; width: 48px"><font style="font-family: Times New Roman; font-size: 13px"><font style="font-size: 13px">3.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px"><font style="text-decoration: underline">REPRESENTATIONS AND
WARRANTIES</font>.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">3.1&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;To
induce the Agent and the other Secured Parties to enter into the
transactions contemplated by the Note Purchase Documents, Guarantor
makes the following representations and warranties to the Agent and
each Secured Party, each and all of which shall survive the
execution and delivery of this Limited Guaranty: Guarantor (i) has
relied exclusively on Guarantor&#x2019;s own independent
investigation of the Borrower for Guarantor&#x2019;s decision to
guarantee the Guaranteed Obligations now existing or thereafter
arising (subject to the Guaranty Limit), (ii) has sufficient
knowledge of the Borrower to make an informed decision about this
Limited Guaranty, and neither the Agent nor any other Secured Party
has any duty or obligation to disclose any information in its
possession or control about the Borrower to Guarantor, and (iii)
has adequate means to obtain from the Borrower on a continuing
basis information concerning the financial condition of the
Borrower and is not relying on the Agent or any other Secured Party
to provide such information either now or in the
future.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">4</font></div>
</div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">3.2&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;In
addition, Guarantor represents and warrants to the Agent and the
Secured Parties as follows:</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 96px">
<font style="font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Guarantor
has had the opportunity to discuss the terms and conditions of the
Note Purchase Documents and the Aemetis Option with its own counsel
and has relied on such counsel&#x2019;s advice with respect to the
Note Purchase Documents and the Aemetis Option in conjunction with
the execution of this Limited Guaranty.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 96px">
<font style="font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
Guarantor makes the additional representations and warranties set
forth on <font style="text-decoration: underline">Exhibit A</font>
hereto.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table">
<div style="display: table-row">
<div style="display: table-cell; width: 48px"><font style="font-family: Times New Roman; font-size: 13px"><font style="font-size: 13px">4.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px"><font style="text-decoration: underline">OTHER TERMS</font>.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">4.1&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Covenants</font>.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Guarantor
makes the covenants set forth on <font style="text-decoration: underline">Exhibit B</font> hereto.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-size: 13px">(b</font>)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;[Reserved]<font style="font-size: 13px">.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">4.2&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Amendments</font>.
This Limited Guaranty may not be amended or modified except by the
written agreement of the Guarantor and the Agent.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">4.3&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Waiver</font>.
No waiver of any provision of this Limited Guaranty, and no consent
to any departure by the Guarantor herefrom, shall in any event be
effective unless the same shall be in writing and signed by the
Agent, and then such waiver or consent shall be effective only in
the specific instance and for the specific purpose for which given.
No failure on the part of the Agent or any other Secured Party to
exercise, and no delay in exercising any right hereunder, shall
operate as a waiver thereof; nor shall any single or partial
exercise of any such right preclude any other or further exercise
thereof or the exercise of any other right.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">4.4&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Notices</font>.
All notices, requests and demands and other communications to or
upon the Agent or any Obligor hereunder shall be effected in the
manner provided for in <font style="text-decoration: underline">Section 8.2</font> of the Note
Purchase Agreement; provided that any notice, request, demand or
other communication to the Guarantor shall be addressed to the
Guarantor at its address on the signature page to this <font style="color: #000000">Limited Guaranty.</font> Notices sent by hand or
overnight courier service, or mailed by certified or registered
mail, shall be deemed to have been given when received; notices
sent by facsimile shall be deemed to have been given when sent
(except that, if not given during normal business hours for the
recipient, shall be deemed to have been given at the opening of
business on the next Business Day for the recipient).</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">4.5&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline; color: #000000">Severability</font><font style="color: #000000">.</font>&#xA0;
<font style="color: #000000">Any provision of this Limited Guaranty
which is prohibited or unenforceable in any jurisdiction shall, as
to such jurisdiction, be ineffective to the extent of such
prohibition or unenforceability without invalidating the remaining
provisions hereof, and any such prohibition or unenforceability in
any jurisdiction shall not invalidate or render unenforceable such
provision in any other jurisdiction.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">4.6&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline; color: #000000">Section
Headings</font><font style="color: #000000">. The Section headings
used in this Limited Guaranty are for convenience of reference only
and are not to affect the construction hereof or be taken into
consideration in the interpretation hereof.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">5</font></div>
</div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">4.7&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Counterparts</font>.
This Limited Guaranty may be executed in any number of counterparts
and by different parties hereto in separate counterparts, each of
which when so executed shall be deemed to be an original and all of
which taken together shall constitute one and the same agreement.
Delivery of an executed counterpart of a signature page of this
document by facsimile or other electronic means shall be effective
as delivery of a manually executed counterpart of this Limited
Guaranty.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">4.8&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline; color: #000000">Submission
to Jurisdiction; Waivers</font><font style="color: #000000">.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 3px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 13px">(a)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="font-style: italic; color: #000000">Jurisdiction</font><font style="color: #000000">.
GUARANTOR IRREVOCABLY AND UNCONDITIONALLY AGREES THAT IT WILL NOT
COMMENCE ANY ACTION, LITIGATION OR PROCEEDING OF ANY KIND OR
DESCRIPTION, WHETHER IN LAW OR EQUITY, WHETHER IN CONTRACT OR IN
TORT OR OTHERWISE, AGAINST ANY SECURED PARTY OR ANY RELATED PARTY
OF ANY SECURED PARTY IN ANY WAY RELATING TO THIS LIMITED GUARANTY
OR ANY OTHER NOTE PURCHASE DOCUMENT OR THE TRANSACTIONS RELATING
HERETO OR THERETO, IN ANY FORUM OTHER THAN THE COURTS OF THE STATE
OF NEW YORK SITTING IN NEW YORK COUNTY AND OF THE UNITED STATES
DISTRICT COURT OF THE SOUTHERN DISTRICT OF NEW YORK, AND ANY
APPELLATE COURT FROM ANY THEREOF, AND EACH OF THE PARTIES HERETO
IRREVOCABLY AND UNCONDITIONALLY SUBMITS TO THE JURISDICTION OF SUCH
COURTS AND AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION,
LITIGATION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW
YORK STATE COURT OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE
LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES HERETO AGREES THAT
A FINAL JUDGMENT IN ANY SUCH ACTION, LITIGATION OR PROCEEDING SHALL
BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON
THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. NOTHING IN
THIS LIMITED GUARANTY OR IN ANY OTHER NOTE PURCHASE DOCUMENT SHALL
AFFECT ANY RIGHT THAT ANY SECURED PARTY MAY OTHERWISE HAVE TO BRING
ANY ACTION OR PROCEEDING RELATING TO THIS LIMITED GUARANTY OR ANY
OTHER NOTE PURCHASE DOCUMENT AGAINST THE PLEDGOR OR ANY OTHER
OBLIGOR OR ITS PROPERTIES IN THE COURTS OF ANY
JURISDICTION.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 3px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 13px">(b)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="font-style: italic; color: #000000">Waiver
of Venue</font><font style="color: #000000">. Guarantor irrevocably
and unconditionally waives, to the fullest extent permitted by
applicable law, any objection that it may now or hereafter have to
the laying of venue of any action or proceeding arising out of or
relating to this Limited Guaranty in any court referred to in
paragraph (a) of this Section. Each of the parties hereto hereby
irrevocably waives, to the fullest extent permitted by applicable
law, the defense of an inconvenient forum to the maintenance of
such action or proceeding in any such court.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 3px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 13px">(c)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="font-style: italic; color: #000000">Service
of Process</font><font style="color: #000000">. Each party
irrevocably consents to service of process in the manner provided
for notices in</font> <font style="text-decoration: underline; color: #000000">Section
4.4</font><font style="color: #000000">. Nothing in this Limited
Guaranty will affect the right of any party hereto to serve process
in any other manner permitted by applicable
law.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 3px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 13px">(d)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="font-style: italic; color: #000000">Waiver</font><font style="color: #000000">.
Guarantor hereby waives, to the maximum extent not prohibited by
law, any right it may have to claim or recover in any legal action
or proceeding referred to in this Section any special, exemplary
punitive or consequential damages.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-size: 13px">4.9</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline; color: #000000">Governing
Law</font><font style="color: #000000">. THIS LIMITED GUARANTY AND
THE RIGHTS AND OBLIGATIONS HEREUNDER OF THE GUARANTOR, THE BORROWER
AND THE SECURED PARTIES AND ANY CLAIMS, CONTROVERSY, DISPUTE OR
CAUSE OF ACTION (WHETHER IN CONTRACT OR TORT OR OTHERWISE) BASED
UPON, ARISING OUT OF OR RELATING TO THIS LIMITED GUARANTY AND THE
TRANSACTIONS CONTEMPLATED HEREBY SHALL BE GOVERNED BY, AND
CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW
YORK.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">6</font></div>
</div>
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">4.10&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="font-weight: bold; text-decoration: underline; color: #000000; font-size: 13px">WAIVER
OF JURY TRIAL</font><font style="font-weight: bold; color: #000000; font-size: 13px">. EACH PARTY
WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY
RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING
DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS</font>
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
LIMITED GUARANTY</font> <font style="font-weight: bold; color: #000000; font-size: 13px">OR ANY
TRANSACTION CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR
ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO
REPRESENTATIVE, AGENT OR ATTORNEY OF ANY SECURED PARTY HAS
REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH SECURED PARTY WOULD
NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING
WAIVER AND (B) ACKNOWLEDGES THAT THE SECURED PARTIES HERETO HAVE
BEEN INDUCED TO ENTER INTO THIS</font> <font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
LIMITED GUARANTY</font> <font style="font-weight: bold; color: #000000; font-size: 13px">BY, AMONG
OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS</font>
<font style="font-weight: bold; color: #000000">SECTION.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">4.11&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Assignment</font>.
This Limited Guaranty shall be binding on, and shall inure to the
benefit of the Guarantor, the Agent, each Secured Party and their
respective successors and assigns; <font style="text-decoration: underline">provided</font> that the Guarantor may
not assign or transfer its rights or obligations under this Limited
Guaranty without the written consent of the Agent.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">4.12&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline; color: #000000">Indemnity
and Expenses</font><font style="color: #000000">. (a) The Guarantor
agrees to indemnify the Agent, each Noteholder and each Related
Party of any of the foregoing Persons (each such Person being
called an &#x201C;</font><font style="font-weight: bold; color: #000000">Indemnitee</font><font style="color: #000000">&#x201D;) against, and hold each Indemnitee
harmless from, any and all losses, claims, damages, liabilities and
related costs and expenses (including the fees, charges and
disbursements of any counsel for any Indemnitee), incurred by any
Indemnitee or asserted against any Indemnitee by any Person
(including an Obligor) arising out of, in connection with, or as a
result of (i) the execution or delivery of this Limited Guaranty,
any other Note Purchase Document or any agreement or instrument
contemplated hereby or thereby, the performance by the parties
hereto of their respective obligations hereunder or thereunder or
the consummation of the transactions contemplated hereby or
thereby, (ii) the use or proposed use of the proceeds therefrom, or
(iii) any actual or prospective claim, litigation, investigation or
proceeding relating to any of the foregoing, whether based on
contract, tort or any other theory, whether brought by a third
party or by any Obligor; provided that such indemnity shall not, as
to any Indemnitee, be available to the extent that such losses,
claims, damages, liabilities or related expenses (x) are determined
by a court of competent jurisdiction by final and nonappealable
judgment to have resulted from the gross negligence or willful
misconduct of such Indemnitee or (y) result from a claim brought by
any Obligor against an Indemnitee for a material breach in bad
faith of such Indemnitee&#x2019;s obligations hereunder or under any
other Note Purchase Document, if any such Obligor has obtained a
final and nonappealable judgment in its favor on such claim as
determined by a court of competent
jurisdiction.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(b)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">The
Guarantor shall not, without the prior written consent of the
applicable Indemnitee(s), effect any settlement of any pending or
threatened claim, litigation, investigation or proceeding in
respect of which such Indemnitee is a party and indemnity could
have been sought hereunder by such Indemnitee, unless such
settlement (i) includes an unconditional release of such Indemnitee
from all liability or claims that are the subject matter of such
proceeding and (ii) does not include a statement as to or an
admission of fault, culpability, or a failure to act by or on
behalf of such Indemnitee.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(c)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">The
Guarantor will upon demand pay to the Agent the amount of any and
all expenses, including, without limitation, the fees and expenses
of its counsel and of any experts and agents, that the Agent or any
Secured Party may incur in connection with (i) the exercise or
enforcement of any of the rights of the Agent or the other Secured
Parties hereunder or (ii) the failure by the Guarantor to perform
or observe any of the provisions hereof.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(d)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;The
agreements in this <font style="text-decoration: underline">Section
4.12</font> shall survive repayment of the Note Indebtedness and
all other amounts payable under the Note Purchase Agreement and the
other Note Purchase Documents.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Times New Roman; font-size: 13px">[SIGNATURE PAGE
FOLLOWS<font style="font-variant: small-caps">]</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">7</font></div>
</div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">IN
WITNESS WHEREOF, the parties hereto have executed and delivered
this Limited Guaranty as of the date first above
written.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">AEMETIS
PROPERTY KEYES, INC., as a Guarantor</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">By:
<font style="text-decoration: underline; font-size: 13px">s/ Eric
A.
McAfee&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</font><br>
</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Name:
Eric McAfee</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Title:
CEO</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="text-decoration: underline">Address for Notices to
Guarantor</font>:</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">20400
Stevens Creek Blvd, Suite 700</font></div>
<div style="text-align: left; margin-left: 240px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">Cupertino, CA
95014</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Attention:&#xA0;
Chief Executive Officer</font></div>
<div style="text-align: left; margin-left: 240px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">Telephone:&#xA0;408-390-3275</font></div>
<div style="text-align: left; margin-left: 240px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">Facsimile:&#xA0;408-252-8044</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">THIRD
EYE CAPITAL CORPORATION, as the Agent</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;"><font style="font-family: Times New Roman; font-size: 13px">By: <font style="text-decoration: underline; font-size: 13px">/s/ Arif N. Bhalwani
&#xA0; &#xA0; &#xA0; &#xA0; &#xA0; &#xA0; &#xA0; &#xA0; &#xA0;
&#xA0; &#xA0; &#xA0; &#xA0; &#xA0; &#xA0; &#xA0;</font></font>
&#xA0;<br></font> <font style="font-family: Times New Roman; font-size: 13px">Name: Arif N.
Bhalwani</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Title:
Managing Director</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Signature
Page to Limited Guaranty</font></div>
</div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: -288px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="text-decoration: underline">Acknowledged and
Agreed</font>:</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">GOODLAND
ADVANCED FUELS, INC.,</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">as the
Borrower</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table">
<div style="display: table-row">
<div style="display: table-cell; width: 336px"><font style="font-family: Times New Roman; font-size: 13px">By: <font style="text-decoration: underline; font-size: 13px">/s/ Michael Peterson
&#xA0; &#xA0; &#xA0; &#xA0; &#xA0; &#xA0; &#xA0; &#xA0; &#xA0;
&#xA0; &#xA0; &#xA0; &#xA0; &#xA0;
&#xA0;&#xA0;</font><br></font></div>
</div>
</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Name:
Michael Peterson</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Title:
CEO</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<br>
</div>
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<DOCUMENT>
<TYPE>EX-10.8
<SEQUENCE>5
<FILENAME>amtx_ex108.htm
<DESCRIPTION>LIMITED GUARANTY, BY AND BETWEEN AEMETIS ADVANCED FUELS KEYES, INC. AND THIRD EYE CAPITAL CORPORATION
<TEXT>
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<font style="font-family: Times New Roman; font-size: 13px">Exhibit
10.8</font></div>
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LIMITED GUARANTY</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px">
<font style="font-family: Times New Roman; font-size: 13px">This
LIMITED GUARANTY (this &#x201C;<font style="text-decoration: underline">Limited Guaranty</font>&#x201D;), dated
as of December 3, 2018, is made by AEMETIS ADVANCED FUELS KEYES,
INC. (the &#x201C;<font style="text-decoration: underline">Guarantor</font>&#x201D;), in favor of
THIRD EYE CAPITAL CORPORATION, as administrative agent and
collateral agent for and on behalf of the Noteholders (as defined
in the Note Purchase Agreement referred to below) (in such
aforesaid capacities, or any successor or assign in such
capacities, the &#x201C;<font style="text-decoration: underline">Agent</font>&#x201D;).</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
PRELIMINARY STATEMENTS:</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(1)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Goodland
Advanced Fuels, Inc., a Delaware corporation (the
&#x201C;<font style="text-decoration: underline">Borrower</font>&#x201D;), the
Noteholders from time to time party thereto, and the Agent have
entered into that certain Note Purchase Agreement dated as of June
30, 2017 (as amended by the Amendment No. 1 to Note Purchase
Agreement dated June 28, 2018, the Amendment No. 2 to Note Purchase
Agreement dated as of December 3, 2018 (the &#x201C;<font style="text-decoration: underline">Second Amendment</font>&#x201D;) and as
may be further amended, varied, supplemented, restated, renewed or
replaced at any time and from time to time, the &#x201C;<font style="text-decoration: underline">Note Purchase
Agreement</font>&#x201D;).</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(2)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">Pursuant
to the Note Purchase Agreement, the Noteholders have agreed to make
Loans from time to time to the Borrower, upon the terms and subject
to the conditions set forth therein.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(3)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">This
Limited Guaranty is secured by a first priority lien pursuant to
that certain Collateral Assignment of Contract (the
&#x201C;</font><font style="text-decoration: underline; color: #000000">Collateral
Assignment</font><font style="color: #000000">&#x201D;), dated as of
the date hereof, between Guarantor and Agent, and acknowledged by
Linde LLC.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(4)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">Pursuant
to the Second Amendment, the Noteholders and the Agent agreed to
increase the Term Loan Commitment by an amount equal to $3,500,000,
being the CO2 Term Loan amount, and the Borrower agreed to issue
Term Notes evidencing such CO2 Term Loan amount to the Noteholders
in order to advance funds to Aemetis Property Keyes, Inc., a
Delaware corporation (&#x201C;</font><font style="text-decoration: underline; color: #000000">APKI</font><font style="color: #000000">&#x201D;)
in order to permit APKI to complete the CO2 Transaction (as defined
in the Second Amendment) in accordance with the terms and
conditions set forth in the Second Amendment. In connection
therewith, Guarantor agreed to enter into this Limited Guaranty,
thereby guaranteeing the obligations of the Borrower with respect
to such CO2 Term Loan amount, in addition to and not in derogation
of, their other obligations herein and in the Note Purchase
Documents.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(5)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;It
is a condition precedent to the obligation of the Noteholders to
make Loans under the Note Purchase Agreement that the Guarantor
shall have executed and delivered this Limited Guaranty to the
Agent, for the benefit of the Agent, the Noteholders from time to
time party to the Note Purchase Agreement and any other holder of
any Note Indebtedness (collectively with the Agent and the
Noteholders, the &#x201C;<font style="text-decoration: underline">Secured
Parties</font>&#x201D;).</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(6)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">The
Guarantor will derive substantial direct and indirect benefit from
the transactions contemplated by the Note Purchase Agreement,
including without limiting the generality of the foregoing, with
respect to the transactions contemplated by the Second
Amendment.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 0px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 13px"><font style="font-size: 13px">1.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline">DEFINITIONS</font>.
Capitalized terms used but not otherwise defined herein shall have
the meanings assigned to them in the Note Purchase Agreement. In
addition, when used herein, the term &#x201C;<font style="text-decoration: underline">Guaranty Limit</font>&#x201D; shall
mean an amount equal to the sum of: (a) the aggregate amount of all
proceeds derived from or any other amounts received by (or on
behalf of) the Guarantor in connection with the Collateral
Assignment or from or with respect to or in connection with the
Contract (as defined in the Collateral Assignment) and (b) the
obligations of the Guarantor under <font style="text-decoration: underline">Section 4.12</font>
hereof.</font></div>
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<div style="display: table-cell; width: 48px"><font style="font-family: Times New Roman; font-size: 13px"><font style="font-size: 13px">2.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px"><font style="text-decoration: underline">THE GUARANTY</font>.</font></div>
</div>
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<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">2.1&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline">Limited Guaranty of
Guaranteed Obligations</font>. The Guarantor unconditionally
guarantees to the Agent, on behalf of the Secured Parties, and
their respective successors, endorsees, transferees and assigns,
the prompt payment and performance of all Note Indebtedness,
whether such obligations constitute principal, interest, expenses,
indemnification expenses or other obligations (collectively, the
&#x201C;<font style="text-decoration: underline">Guaranteed
Obligations</font>&#x201D;); <font style="text-decoration: underline">provided</font> that the aggregate
obligations and liabilities of the Guarantor hereunder shall not at
any time or in any event or circumstance exceed the Guaranty Limit.
All payments under this Limited Guaranty shall be made in United
States Dollars in immediately available funds within five (5)
Business Days after the Agent&#x2019;s demand therefor.<a name="_Toc103054197"><!--anchor--></a></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">2.2&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline; color: #000000">Guarantee
Absolute</font><font style="color: #000000">. The Guarantor
guarantees that the Guaranteed Obligations will be paid strictly in
accordance with their terms regardless of any law, regulation or
order now or hereafter in effect in any jurisdiction affecting any
of such terms or the rights of the Agent and/or Secured Parties
with respect thereto. The liability of the Guarantor hereunder
shall be primary, absolute and unconditional irrespective
of:</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(a)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">any
lack of validity or enforceability of the</font> Note Indebtedness
<font style="color: #000000">or the Guaranteed Obligations or any
agreement or instrument relating thereto;</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(b)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">any
change in the time, manner or place of the payment of, or in any
other term of, all or any of the</font> Note Indebtedness
<font style="color: #000000">or the Guaranteed Obligations, or any
amendment or modification of or any consent to departure from this
Limited Guaranty or any other Note Purchase
Document;</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(c)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">any
exchange, release, unopposability or nonperfection of any
Collateral or any release or amendment to, waiver of, or consent to
departure from, or any guarantee for, all or any part of the Note
Indebtedness or the Guaranteed Obligations;</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(d)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">any
whole or partial termination of this Limited Guaranty;
or</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(e)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">any
other circumstance which might otherwise constitute a defense
available to, or a discharge of, any Obligor in respect of
the</font> Note Indebtedness<font style="color: #000000">.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">2.3&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Consents,
Waivers and Renewals</font>. The Guarantor hereby renounces the
benefits of division and discussion. The Guarantor hereby waives
promptness, diligence, notice of the acceptance hereof, notice of
intent to accelerate and notice of acceleration and any other
notice with respect to any of the Note Indebtedness or the
Guaranteed Obligations, this <font style="color: #000000">Limited
Guaranty</font> or the other Note Purchase Documents and any
requirement that the Agent and/or Secured Parties protect, secure,
perfect, render opposable or insure any Agent&#x2019;s Lien or Lien
on any Property subject thereto or exhaust any right or take any
action against any other Person or any Collateral before proceeding
hereunder. The Guarantor agrees that the Agent and/or Secured
Parties may at any time and from time to time, either before or
after the maturity of the Note Indebtedness, without notice to or
further consent of the Guarantor or any other Person extend the
time of payment of, exchange or surrender any Collateral for, or
renew any of the Note Indebtedness or the Guaranteed Obligations,
and may also make any agreements with any other party to or Person
liable on any of the Note Indebtedness, or interested therein, for
the extension, renewal, payment, compromise, discharge, or release
thereof, in whole or in part, or for any modification of the terms
thereof or of any agreement between the Agent and/or any
Noteholders and the Borrower or any such other party or Person,
without in any way impairing or affecting this Limited Guaranty.
The Guarantor agrees to make payment to the Agent, for the ratable
benefit of the Secured Parties, of any of the Note Indebtedness and
the Guaranteed Obligations whether or not the Agent and/or any
Secured Parties shall have resorted to any collateral security, or
shall have proceeded against any other obligor principally or
secondarily obligated with respect to any of the Note Indebtedness
or the Guaranteed Obligations. Guarantor hereby irrevocably
renounces every right it may acquire to be released from its
guarantee pursuant to applicable law. At the request of the Agent
or any Secured Party, made at any time, the Guarantor shall renew
the Limited Guaranty hereunder by executing such documents for this
purpose as may be reasonably requested by the Agent.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">2.4&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Reinstatement</font>.
If at any time any payment in respect of any of the Guaranteed
Obligations is rescinded or must otherwise be returned for any
reason whatsoever, in whole or in part, the Guarantor&#x2019;s
obligations hereunder shall (x) revive and remain in full force and
effect or (y) be reinstated (as the case may be) with respect to
such Guaranteed Obligations, in any case, subject to the Guaranty
Limit.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">2.5&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Payments</font>.
All payments made by, or on behalf of, the Guarantor hereunder will
be made without setoff, counterclaim or other defense.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">2.6&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Subrogation</font>.
The Guarantor shall not exercise any rights which it may acquire by
way of subrogation under this Limited Guaranty or the other Note
Purchase Documents, by any payment made hereunder or otherwise,
until all the Note Indebtedness and the Guaranteed Obligations
shall have been paid in full. If any amount shall be paid to the
Borrower on account of such subrogation rights in violation of the
foregoing restriction, such amount shall be held in trust and as
mandatary for the benefit of the Agent (for itself and the other
Secured Parties) and shall forthwith be paid to the Agent (for
itself and the other Secured Parties) to be credited and applied to
the Note Indebtedness, whether matured or unmatured.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">2.7&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Postponement
and Subordination</font>. Guarantor hereby postpones any right of
enforcement, remedy and action and subordinate any claims,
including any right of payment, subrogation, contribution and
indemnity that they may have at any time against any Obligor or any
other guarantor, howsoever arising, to irrevocable payment in full
of the Note Indebtedness. Any such claims (whether secured or
unsecured) and any such remedial rights are hereby assigned or
hypothecated to Agent and the Secured Parties (and shall be
assigned or hypothecated pursuant to documentation satisfactory to
Agent), and any such claims owing and paid to the Guarantor in
contravention of the terms of this <font style="color: #000000">Limited Guaranty</font> shall be received and held
by Guarantor in trust and as agent and mandatary for the benefit of
Agent and the Secured Parties and the proceeds thereof shall
forthwith be paid over to Agent to be credited and applied to the
Note Indebtedness, whether matured or unmatured, in accordance with
the terms of this <font style="color: #000000">Limited
Guaranty</font>. In furtherance of the foregoing, any and all Liens
held by the Guarantor shall for all purposes be, and at all times
remain, inferior, junior and subordinate to the Liens from time to
time held by the Agent under the Collateral Assignment; without
limiting the generality of the foregoing, the foregoing priority
shall prevail in all circumstances and irrespective of: (i) the
priorities otherwise accorded to any such Liens by any applicable
law; (ii) the time or order of the creation, granting, execution or
delivery of the Note Indebtedness, the Note Purchase Documents or
any other deed, document, instrument, act or notice; (iii) the time
or order of the attachment or perfection or setting-up of the
security interests and hypothecs constituted by any such Liens;
(iv) the time or order of registration, notification or publication
of any such Liens or the filing of financing statements or other
instruments and documents with respect thereto; (v) the time of the
making of advances and other credits under the Note Indebtedness;
or (vi) the giving of, or the failure to give, any notice to the
Guarantor or the time of giving of any such notice; in addition,
the Guarantor hereby cedes priority of rank and payment to the
Agent and the Secured Parties in all respects to the extent
necessary to give full effect to the foregoing.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">3</font></div>
</div>
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">2.8&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Waivers</font>.
In addition to the waivers contained in <font style="text-decoration: underline">Section 2.3</font> hereof, the
Guarantor waives, and agree to the fullest extent permitted by law
that they shall not at any time insist upon, plead or in any manner
whatever claim or take the benefit or advantage of, any appraisal,
valuation, stay, extension, marshaling of assets or redemption
laws, or exemption, whether now or at any time hereafter in force,
which may delay, prevent or otherwise affect the performance by the
Guarantor of the Guaranteed Obligations hereunder (subject to the
Guaranty Limit) or the enforcement by the Agent of, this Limited
Guaranty. The Guarantor hereby waives, to the fullest extent
permitted by law, diligence, presentment and demand (whether for
the benefit of any statute of limitations affecting
Guarantor&#x2019;s liability hereunder or the enforcement hereof,
non-payment or protest or of acceptance, extension of time, change
in nature or form of the Guaranteed Obligations, acceptance of
further security, release of further security, composition or
agreement arrived at as to the amount of, or the terms of, the
Guaranteed Obligations, notice of adverse change in the
Borrower&#x2019;s financial condition or any other fact which might
increase the risk to the Guarantor) with respect to any of the
Guaranteed Obligations or all other demands whatsoever and waives,
to the fullest extent permitted by law, the benefit of all
provisions of law which are or might be in conflict with the terms
of this Limited Guaranty.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table">
<div style="display: table-row">
<div style="display: table-cell; width: 48px"><font style="font-family: Times New Roman; font-size: 13px"><font style="font-size: 13px">3.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px"><font style="text-decoration: underline">REPRESENTATIONS AND
WARRANTIES</font>.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">3.1&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;To
induce the Agent and the other Secured Parties to enter into the
transactions contemplated by the Note Purchase Documents, Guarantor
makes the following representations and warranties to the Agent and
each Secured Party, each and all of which shall survive the
execution and delivery of this Limited Guaranty: Guarantor (i) has
relied exclusively on Guarantor&#x2019;s own independent
investigation of the Borrower for Guarantor&#x2019;s decision to
guarantee the Guaranteed Obligations now existing or thereafter
arising (subject to the Guaranty Limit), (ii) has sufficient
knowledge of the Borrower to make an informed decision about this
Limited Guaranty, and neither the Agent nor any other Secured Party
has any duty or obligation to disclose any information in its
possession or control about the Borrower to Guarantor, and (iii)
has adequate means to obtain from the Borrower on a continuing
basis information concerning the financial condition of the
Borrower and is not relying on the Agent or any other Secured Party
to provide such information either now or in the
future.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">3.2&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;In
addition, Guarantor represents and warrants to the Agent and the
Secured Parties as follows:</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 96px">
<font style="font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Guarantor
has had the opportunity to discuss the terms and conditions of the
Note Purchase Documents with its own counsel and has relied on such
counsel&#x2019;s advice with respect to the Note Purchase Documents
in conjunction with the execution of this Limited
Guaranty.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 96px">
<font style="font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
Guarantor makes the additional representations and warranties set
forth on <font style="text-decoration: underline">Exhibit A</font>
hereto.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table">
<div style="display: table-row">
<div style="display: table-cell; width: 48px"><font style="font-family: Times New Roman; font-size: 13px"><font style="font-size: 13px">4.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px"><font style="text-decoration: underline">OTHER TERMS</font>.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">4.1&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Covenants</font>.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Guarantor
makes the covenants set forth on <font style="text-decoration: underline">Exhibit B</font> hereto.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-size: 13px">(b</font>)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="font-size: 13px">Guarantor
shall be required to, and hereby agrees to, contribute certain of
the net cash proceeds received by Guarantor from the Linde Contract
(as defined in the Second Amendment) in accordance with Section
2.4(d) of the Note Purchase Agreement.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">4.2&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Amendments</font>.
This Limited Guaranty may not be amended or modified except by the
written agreement of the Guarantor and the Agent.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">4</font></div>
</div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">4.3&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Waiver</font>.
No waiver of any provision of this Limited Guaranty, and no consent
to any departure by the Guarantor herefrom, shall in any event be
effective unless the same shall be in writing and signed by the
Agent, and then such waiver or consent shall be effective only in
the specific instance and for the specific purpose for which given.
No failure on the part of the Agent or any other Secured Party to
exercise, and no delay in exercising any right hereunder, shall
operate as a waiver thereof; nor shall any single or partial
exercise of any such right preclude any other or further exercise
thereof or the exercise of any other right.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">4.4&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Notices</font>.
All notices, requests and demands and other communications to or
upon the Agent or any Obligor hereunder shall be effected in the
manner provided for in <font style="text-decoration: underline">Section 8.2</font> of the Note
Purchase Agreement; provided that any notice, request, demand or
other communication to the Guarantor shall be addressed to the
Guarantor at its address on the signature page to this <font style="color: #000000">Limited Guaranty.</font> Notices sent by hand or
overnight courier service, or mailed by certified or registered
mail, shall be deemed to have been given when received; notices
sent by facsimile shall be deemed to have been given when sent
(except that, if not given during normal business hours for the
recipient, shall be deemed to have been given at the opening of
business on the next Business Day for the recipient).</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">4.5&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline; color: #000000">Severability</font><font style="color: #000000">.</font>&#xA0;
<font style="color: #000000">Any provision of this Limited Guaranty
which is prohibited or unenforceable in any jurisdiction shall, as
to such jurisdiction, be ineffective to the extent of such
prohibition or unenforceability without invalidating the remaining
provisions hereof, and any such prohibition or unenforceability in
any jurisdiction shall not invalidate or render unenforceable such
provision in any other jurisdiction.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">4.6&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline; color: #000000">Section
Headings</font><font style="color: #000000">. The Section headings
used in this Limited Guaranty are for convenience of reference only
and are not to affect the construction hereof or be taken into
consideration in the interpretation hereof.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">4.7&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Counterparts</font>.
This Limited Guaranty may be executed in any number of counterparts
and by different parties hereto in separate counterparts, each of
which when so executed shall be deemed to be an original and all of
which taken together shall constitute one and the same agreement.
Delivery of an executed counterpart of a signature page of this
document by facsimile or other electronic means shall be effective
as delivery of a manually executed counterpart of this Limited
Guaranty.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">4.8&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline; color: #000000">Submission
to Jurisdiction; Waivers</font><font style="color: #000000">.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 3px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 13px">(a)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="font-style: italic; color: #000000">Jurisdiction</font><font style="color: #000000">.
GUARANTOR IRREVOCABLY AND UNCONDITIONALLY AGREES THAT IT WILL NOT
COMMENCE ANY ACTION, LITIGATION OR PROCEEDING OF ANY KIND OR
DESCRIPTION, WHETHER IN LAW OR EQUITY, WHETHER IN CONTRACT OR IN
TORT OR OTHERWISE, AGAINST ANY SECURED PARTY OR ANY RELATED PARTY
OF ANY SECURED PARTY IN ANY WAY RELATING TO THIS LIMITED GUARANTY
OR ANY OTHER NOTE PURCHASE DOCUMENT OR THE TRANSACTIONS RELATING
HERETO OR THERETO, IN ANY FORUM OTHER THAN THE COURTS OF THE STATE
OF NEW YORK SITTING IN NEW YORK COUNTY AND OF THE UNITED STATES
DISTRICT COURT OF THE SOUTHERN DISTRICT OF NEW YORK, AND ANY
APPELLATE COURT FROM ANY THEREOF, AND EACH OF THE PARTIES HERETO
IRREVOCABLY AND UNCONDITIONALLY SUBMITS TO THE JURISDICTION OF SUCH
COURTS AND AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION,
LITIGATION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW
YORK STATE COURT OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE
LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES HERETO AGREES THAT
A FINAL JUDGMENT IN ANY SUCH ACTION, LITIGATION OR PROCEEDING SHALL
BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON
THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. NOTHING IN
THIS LIMITED GUARANTY OR IN ANY OTHER NOTE PURCHASE DOCUMENT SHALL
AFFECT ANY RIGHT THAT ANY SECURED PARTY MAY OTHERWISE HAVE TO BRING
ANY ACTION OR PROCEEDING RELATING TO THIS LIMITED GUARANTY OR ANY
OTHER NOTE PURCHASE DOCUMENT AGAINST THE PLEDGOR OR ANY OTHER
OBLIGOR OR ITS PROPERTIES IN THE COURTS OF ANY
JURISDICTION.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">5</font></div>
</div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 3px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 13px">(b)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="font-style: italic; color: #000000">Waiver
of Venue</font><font style="color: #000000">. Guarantor irrevocably
and unconditionally waives, to the fullest extent permitted by
applicable law, any objection that it may now or hereafter have to
the laying of venue of any action or proceeding arising out of or
relating to this Limited Guaranty in any court referred to in
paragraph (a) of this Section. Each of the parties hereto hereby
irrevocably waives, to the fullest extent permitted by applicable
law, the defense of an inconvenient forum to the maintenance of
such action or proceeding in any such court.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 3px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 13px">(c)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="font-style: italic; color: #000000">Service
of Process</font><font style="color: #000000">. Each party
irrevocably consents to service of process in the manner provided
for notices in</font> <font style="text-decoration: underline; color: #000000">Section
4.4</font><font style="color: #000000">. Nothing in this Limited
Guaranty will affect the right of any party hereto to serve process
in any other manner permitted by applicable
law.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 3px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 13px">(d)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="font-style: italic; color: #000000">Waiver</font><font style="color: #000000">.
Guarantor hereby waives, to the maximum extent not prohibited by
law, any right it may have to claim or recover in any legal action
or proceeding referred to in this Section any special, exemplary
punitive or consequential damages.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">4.9&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline; color: #000000; font-size: 13px">Governing
Law</font><font style="color: #000000; font-size: 13px">. THIS
LIMITED GUARANTY AND THE RIGHTS AND OBLIGATIONS HEREUNDER OF THE
GUARANTOR, THE BORROWER AND THE SECURED PARTIES AND ANY CLAIMS,
CONTROVERSY, DISPUTE OR CAUSE OF ACTION (WHETHER IN CONTRACT OR
TORT OR OTHERWISE) BASED UPON, ARISING OUT OF OR RELATING TO THIS
LIMITED GUARANTY AND THE TRANSACTIONS CONTEMPLATED HEREBY SHALL BE
GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE
OF NEW YORK.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">4.10&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="font-weight: bold; text-decoration: underline; color: #000000; font-size: 13px">WAIVER
OF JURY TRIAL</font><font style="font-weight: bold; color: #000000; font-size: 13px">. EACH PARTY
WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY
RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING
DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS</font>
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
LIMITED GUARANTY</font> <font style="font-weight: bold; color: #000000; font-size: 13px">OR ANY
TRANSACTION CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR
ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO
REPRESENTATIVE, AGENT OR ATTORNEY OF ANY SECURED PARTY HAS
REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH SECURED PARTY WOULD
NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING
WAIVER AND (B) ACKNOWLEDGES THAT THE SECURED PARTIES HERETO HAVE
BEEN INDUCED TO ENTER INTO THIS</font> <font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
LIMITED GUARANTY</font> <font style="font-weight: bold; color: #000000; font-size: 13px">BY, AMONG
OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS</font>
<font style="font-weight: bold; color: #000000">SECTION.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">4.11&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Assignment</font>.
This Limited Guaranty shall be binding on, and shall inure to the
benefit of the Guarantor, the Agent, each Secured Party and their
respective successors and assigns; <font style="text-decoration: underline">provided</font> that the Guarantor may
not assign or transfer its rights or obligations under this Limited
Guaranty without the written consent of the Agent.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">6</font></div>
</div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">4.12&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline; color: #000000">Indemnity
and Expenses</font><font style="color: #000000">. (a) The Guarantor
agrees to indemnify the Agent, each Noteholder and each Related
Party of any of the foregoing Persons (each such Person being
called an &#x201C;</font><font style="font-weight: bold; color: #000000">Indemnitee</font><font style="color: #000000">&#x201D;) against, and hold each Indemnitee
harmless from, any and all losses, claims, damages, liabilities and
related costs and expenses (including the fees, charges and
disbursements of any counsel for any Indemnitee), incurred by any
Indemnitee or asserted against any Indemnitee by any Person
(including an Obligor) arising out of, in connection with, or as a
result of (i) the execution or delivery of this Limited Guaranty,
any other Note Purchase Document or any agreement or instrument
contemplated hereby or thereby, the performance by the parties
hereto of their respective obligations hereunder or thereunder or
the consummation of the transactions contemplated hereby or
thereby, (ii) the use or proposed use of the proceeds therefrom, or
(iii) any actual or prospective claim, litigation, investigation or
proceeding relating to any of the foregoing, whether based on
contract, tort or any other theory, whether brought by a third
party or by any Obligor; provided that such indemnity shall not, as
to any Indemnitee, be available to the extent that such losses,
claims, damages, liabilities or related expenses (x) are determined
by a court of competent jurisdiction by final and nonappealable
judgment to have resulted from the gross negligence or willful
misconduct of such Indemnitee or (y) result from a claim brought by
any Obligor against an Indemnitee for a material breach in bad
faith of such Indemnitee&#x2019;s obligations hereunder or under any
other Note Purchase Document, if any such Obligor has obtained a
final and nonappealable judgment in its favor on such claim as
determined by a court of competent
jurisdiction.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(b)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">The
Guarantor shall not, without the prior written consent of the
applicable Indemnitee(s), effect any settlement of any pending or
threatened claim, litigation, investigation or proceeding in
respect of which such Indemnitee is a party and indemnity could
have been sought hereunder by such Indemnitee, unless such
settlement (i) includes an unconditional release of such Indemnitee
from all liability or claims that are the subject matter of such
proceeding and (ii) does not include a statement as to or an
admission of fault, culpability, or a failure to act by or on
behalf of such Indemnitee.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(c)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">The
Guarantor will upon demand pay to the Agent the amount of any and
all expenses, including, without limitation, the fees and expenses
of its counsel and of any experts and agents, that the Agent or any
Secured Party may incur in connection with (i) the exercise or
enforcement of any of the rights of the Agent or the other Secured
Parties hereunder or (ii) the failure by the Guarantor to perform
or observe any of the provisions hereof.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(d)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;The
agreements in this <font style="text-decoration: underline">Section
4.12</font> shall survive repayment of the Note Indebtedness and
all other amounts payable under the Note Purchase Agreement and the
other Note Purchase Documents.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Times New Roman; font-size: 13px">[SIGNATURE PAGE
FOLLOWS<font style="font-variant: small-caps">]</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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<div id="ftr">
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">7</font></div>
</div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: left; margin-left: 96px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">IN
WITNESS WHEREOF, the parties hereto have executed and delivered
this Limited Guaranty as of the date first above
written.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">AEMETIS
ADVANCED FUELS KEYES, INC., as a Guarantor</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">By:
<font style="text-decoration: underline; font-size: 13px">/s/ Eric
A.
McAfee&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</font><br>
</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Name:
Eric McAfee</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Title:
CEO</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="text-decoration: underline">Address for Notices to
Guarantor</font>:</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">20400
Stevens Creek Blvd, Suite 700</font></div>
<div style="text-align: left; margin-left: 240px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">Cupertino, CA
95014</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Attention:&#xA0;
Chief Executive Officer</font></div>
<div style="text-align: left; margin-left: 240px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">Telephone:&#xA0;408-390-3275</font></div>
<div style="text-align: left; margin-left: 240px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">Facsimile:&#xA0;408-252-8044</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">THIRD
EYE CAPITAL CORPORATION, as the Agent</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">By:
<font style="text-decoration: underline; font-size: 13px">/s/ Arif
N. Bhalwani &#xA0; &#xA0; &#xA0; &#xA0; &#xA0; &#xA0; &#xA0; &#xA0;
&#xA0; &#xA0; &#xA0; &#xA0; &#xA0; &#xA0; &#xA0;
&#xA0;</font>&#xA0;<br></font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Name:
Arif N. Bhalwani</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Title:
Managing Director</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
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<div id="ftr">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Signature
Page to Limited Guaranty</font></div>
</div>
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</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: -288px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="text-decoration: underline">Acknowledged and
Agreed</font>:</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">GOODLAND
ADVANCED FUELS, INC.,</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">as the
Borrower</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table">
<div style="display: table-row">
<div style="display: table-cell; width: 336px"><font style="font-family: Times New Roman; font-size: 13px">By: <font style="text-decoration: underline; font-size: 13px">/s/ Michael Peterson
&#xA0; &#xA0; &#xA0; &#xA0; &#xA0; &#xA0; &#xA0; &#xA0; &#xA0;
&#xA0; &#xA0; &#xA0; &#xA0; &#xA0; &#xA0; &#xA0; &#xA0; &#xA0;
&#xA0; &#xA0;</font><br></font></div>
</div>
</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Name:
Michael Peterson</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Title:
CEO</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<br>
</div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Signature
Page to Limited Guaranty</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.9
<SEQUENCE>6
<FILENAME>amtx_ex109.htm
<DESCRIPTION>GENERAL SECURITY AGREEMENT, BY AND BETWEEN AEMETIS PROPERTY KEYES, INC. AND THIRD EYE CAPITAL CORPORATION
<TEXT>
<html>
<head>
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<font style="font-family: Times New Roman; font-size: 13px">Exhibit
10.9</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
</div>
</div>
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<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
GENERAL SECURITY AGREEMENT</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">made
by</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">AEMETIS
PROPERTY KEYES, INC.,</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">as a
Grantor</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">THE
OTHER GRANTORS FROM TIME TO TIME PARTY HERETO</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">in
favor of</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">THIRD
EYE CAPITAL CORPORATION,</font></div>
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Agent</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Dated
as of&#xA0;December 3, 2018</font></div>
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TABLE OF CONTENTS</font></div>
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Page</font></div>
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ARTICLE I DEFINED TERMS</font></div>
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1</font></div>
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Section 1.01.</font></div>
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Definitions</font></div>
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1</font></div>
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Section 1.02.</font></div>
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Other Definitional Provisions</font></div>
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6</font></div>
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ARTICLE II [RESERVED]</font></div>
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6</font></div>
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ARTICLE III GRANT OF SECURITY INTEREST</font></div>
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6</font></div>
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Section 3.01.</font></div>
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Grant of Security</font></div>
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6</font></div>
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ARTICLE IV REPRESENTATIONS AND WARRANTIES</font></div>
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7</font></div>
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Section 4.01.</font></div>
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Title; No Other Liens</font></div>
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8</font></div>
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Section 4.02.</font></div>
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Perfected First Priority Liens</font></div>
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8</font></div>
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Section 4.03.</font></div>
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Chief Executive Office; Etc</font></div>
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8</font></div>
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Section 4.04.</font></div>
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Inventory and Equipment</font></div>
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9</font></div>
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Section 4.05.</font></div>
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Farm Products</font></div>
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9</font></div>
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Section 4.06.</font></div>
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Investment Property</font></div>
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9</font></div>
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Section 4.07.</font></div>
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Receivables</font></div>
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10</font></div>
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Section 4.08.</font></div>
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Intellectual Property</font></div>
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10</font></div>
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Section 4.09.</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Securities Accounts, Commodities Accounts and Deposit
Accounts</font></div>
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12</font></div>
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Section 4.10.</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Commercial Tort Claims</font></div>
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12</font></div>
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Section 4.11.</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Letters of Credit</font></div>
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<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
12</font></div>
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<td style="vertical-align: bottom; width: 15%;">
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Section 4.12.</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Independent Investigation; Etc</font></div>
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<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
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12</font></div>
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<td style="vertical-align: bottom; width: 15%;">
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Section 4.13.</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Assigned Agreements</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
12</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
ARTICLE V COVENANTS</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
13</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Section 5.01.</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Delivery and Control of Instruments, Investment Property,
Negotiable Documents, Chattel Paper, Letter-of-Credit Rights, and
Transferable Records</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
13</font></div>
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<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Section 5.02.</font></div>
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<td style="vertical-align: bottom; width: 75%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Maintenance of Insurance</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
15</font></div>
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<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Section 5.03.</font></div>
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<td style="vertical-align: bottom; width: 75%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Payment of Guaranteed Obligations</font></div>
</td>
<td style="vertical-align: bottom; width: 10%">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
15</font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: bottom; width: 15%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Section 5.04.</font></div>
</td>
<td style="vertical-align: bottom; width: 75%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Maintenance of Perfected Security Interest; Limitation on
Dispositions; Further Documentation; Inspection; Etc</font></div>
</td>
<td style="vertical-align: bottom; width: 10%">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
15</font></div>
</td>
</tr><tr>
<td style="vertical-align: bottom; width: 15%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Section 5.05.</font></div>
</td>
<td style="vertical-align: bottom; width: 75%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Changes in Locations; Name; Jurisdiction of Incorporation;
Etc</font></div>
</td>
<td style="vertical-align: bottom; width: 10%">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
16</font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: bottom; width: 15%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Section 5.06.</font></div>
</td>
<td style="vertical-align: bottom; width: 75%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Notices</font></div>
</td>
<td style="vertical-align: bottom; width: 10%">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
17</font></div>
</td>
</tr><tr>
<td style="vertical-align: bottom; width: 15%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Section 5.07.</font></div>
</td>
<td style="vertical-align: bottom; width: 75%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Investment Property</font></div>
</td>
<td style="vertical-align: bottom; width: 10%">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
17</font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: bottom; width: 15%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Section 5.08.</font></div>
</td>
<td style="vertical-align: bottom; width: 75%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Inventory and Equipment</font></div>
</td>
<td style="vertical-align: bottom; width: 10%">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
18</font></div>
</td>
</tr><tr>
<td style="vertical-align: bottom; width: 15%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Section 5.09.</font></div>
</td>
<td style="vertical-align: bottom; width: 75%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Receivables</font></div>
</td>
<td style="vertical-align: bottom; width: 10%">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
18</font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: bottom; width: 15%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Section 5.10.</font></div>
</td>
<td style="vertical-align: bottom; width: 75%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Intellectual Property</font></div>
</td>
<td style="vertical-align: bottom; width: 10%">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
19</font></div>
</td>
</tr><tr>
<td style="vertical-align: bottom; width: 15%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Section 5.11.</font></div>
</td>
<td style="vertical-align: bottom; width: 75%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Commercial Tort Claims</font></div>
</td>
<td style="vertical-align: bottom; width: 10%">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
20</font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: bottom; width: 15%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Section 5.12.</font></div>
</td>
<td style="vertical-align: bottom; width: 75%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Assigned Agreements</font></div>
</td>
<td style="vertical-align: bottom; width: 10%">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
20</font></div>
</td>
</tr><tr>
<td style="vertical-align: bottom; width: 15%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Section 5.13.</font></div>
</td>
<td style="vertical-align: bottom; width: 75%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Covenants in Note Purchase Agreement.</font></div>
</td>
<td style="vertical-align: bottom; width: 10%">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
21</font></div>
</td>
</tr></table>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font>&#xA0;i</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="pb" style="text-align: center; page-break-after: always; margin-left: 0px; margin-right: 0px; margin-bottom: 6px; width: 100%; height: 1px; background-color: #000000">
<!--page break--></div>
<div id="hdr">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
<font style="text-decoration: underline">TABLE OF
CONTENTS</font>(continued)</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="text-decoration: underline; font-weight: bold; font-family: Times New Roman; font-size: 13px">
Page</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
</div>
</div>
<div style="text-align: left">
<table cellpadding="0" cellspacing="0" style="text-align: left; width: 100%; font-family: Times New Roman; font-size: 13px; margin: 0px auto 0px 0px;">
<tr style="background-color: rgb(204, 238, 255);">
<td colspan="2" style="vertical-align: bottom; width: 90%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
ARTICLE VI REMEDIAL PROVISIONS</font></div>
</td>
<td style="vertical-align: bottom; width: 10%">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
21</font></div>
</td>
</tr><tr>
<td style="vertical-align: bottom; width: 15%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Section 6.01.</font></div>
</td>
<td style="vertical-align: bottom; width: 75%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Certain Matters Relating to Receivables</font></div>
</td>
<td style="vertical-align: bottom; width: 10%">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
21</font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: bottom; width: 15%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Section 6.02.</font></div>
</td>
<td style="vertical-align: bottom; width: 75%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Communications with Obligors; Grantors Remain Liable</font></div>
</td>
<td style="vertical-align: bottom; width: 10%">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
22</font></div>
</td>
</tr><tr>
<td style="vertical-align: bottom; width: 15%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Section 6.03.</font></div>
</td>
<td style="vertical-align: bottom; width: 75%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Voting Rights; Dividends; Etc</font></div>
</td>
<td style="vertical-align: bottom; width: 10%">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
22</font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: bottom; width: 15%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Section 6.04.</font></div>
</td>
<td style="vertical-align: bottom; width: 75%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Proceeds to be Turned Over To Agent</font></div>
</td>
<td style="vertical-align: bottom; width: 10%">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
24</font></div>
</td>
</tr><tr>
<td style="vertical-align: bottom; width: 15%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Section 6.05.</font></div>
</td>
<td style="vertical-align: bottom; width: 75%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Application of Proceeds</font></div>
</td>
<td style="vertical-align: bottom; width: 10%">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
24</font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: bottom; width: 15%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Section 6.06.</font></div>
</td>
<td style="vertical-align: bottom; width: 75%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Remedies</font></div>
</td>
<td style="vertical-align: bottom; width: 10%">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
25</font></div>
</td>
</tr><tr>
<td style="vertical-align: bottom; width: 15%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Section 6.07.</font></div>
</td>
<td style="vertical-align: bottom; width: 75%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Registration Rights</font></div>
</td>
<td style="vertical-align: bottom; width: 10%">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
26</font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: bottom; width: 15%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Section 6.08.</font></div>
</td>
<td style="vertical-align: bottom; width: 75%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Deficiency</font></div>
</td>
<td style="vertical-align: bottom; width: 10%">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
26</font></div>
</td>
</tr><tr>
<td style="vertical-align: bottom; width: 15%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Section 6.09.</font></div>
</td>
<td style="vertical-align: bottom; width: 75%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Sales on Credit</font></div>
</td>
<td style="vertical-align: bottom; width: 10%">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
26</font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: bottom; width: 15%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
ARTICLE VII THE AGENT</font></div>
</td>
<td style="vertical-align: bottom; width: 75%;">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 10%">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
27</font></div>
</td>
</tr><tr>
<td style="vertical-align: bottom; width: 15%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Section 7.01.</font></div>
</td>
<td style="vertical-align: bottom; width: 75%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Agent&#x2019;s Appointment as Attorney-in-Fact; Etc</font></div>
</td>
<td style="vertical-align: bottom; width: 10%">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
27</font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: bottom; width: 15%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Section 7.02.</font></div>
</td>
<td style="vertical-align: bottom; width: 75%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Duty of Agent</font></div>
</td>
<td style="vertical-align: bottom; width: 10%">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
28</font></div>
</td>
</tr><tr>
<td style="vertical-align: bottom; width: 15%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Section 7.03.</font></div>
</td>
<td style="vertical-align: bottom; width: 75%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Financing Statements</font></div>
</td>
<td style="vertical-align: bottom; width: 10%">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
28</font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: bottom; width: 15%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Section 7.04.</font></div>
</td>
<td style="vertical-align: bottom; width: 75%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Authority of Agent</font></div>
</td>
<td style="vertical-align: bottom; width: 10%">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
29</font></div>
</td>
</tr><tr>
<td style="vertical-align: bottom; width: 15%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
ARTICLE VIII MISCELLANEOUS</font></div>
</td>
<td style="vertical-align: bottom; width: 75%;">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: bottom; width: 10%">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
29</font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: bottom; width: 15%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Section 8.01.</font></div>
</td>
<td style="vertical-align: bottom; width: 75%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Amendments in Writing</font></div>
</td>
<td style="vertical-align: bottom; width: 10%">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
29</font></div>
</td>
</tr><tr>
<td style="vertical-align: bottom; width: 15%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Section 8.02.</font></div>
</td>
<td style="vertical-align: bottom; width: 75%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Notices</font></div>
</td>
<td style="vertical-align: bottom; width: 10%">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
29</font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: bottom; width: 15%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Section 8.03.</font></div>
</td>
<td style="vertical-align: bottom; width: 75%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Security Interest Absolute</font></div>
</td>
<td style="vertical-align: bottom; width: 10%">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
29</font></div>
</td>
</tr><tr>
<td style="vertical-align: bottom; width: 15%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Section 8.04.</font></div>
</td>
<td style="vertical-align: bottom; width: 75%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
No Waiver by Course of Conduct; Cumulative Remedies</font></div>
</td>
<td style="vertical-align: bottom; width: 10%">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
29</font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: bottom; width: 15%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Section 8.05.</font></div>
</td>
<td style="vertical-align: bottom; width: 75%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Indemnity and Expenses</font></div>
</td>
<td style="vertical-align: bottom; width: 10%">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
30</font></div>
</td>
</tr><tr>
<td style="vertical-align: bottom; width: 15%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Section 8.06.</font></div>
</td>
<td style="vertical-align: bottom; width: 75%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Successors and Assigns</font></div>
</td>
<td style="vertical-align: bottom; width: 10%">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
30</font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: bottom; width: 15%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Section 8.07.</font></div>
</td>
<td style="vertical-align: bottom; width: 75%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Set-Off</font></div>
</td>
<td style="vertical-align: bottom; width: 10%">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
30</font></div>
</td>
</tr><tr>
<td style="vertical-align: bottom; width: 15%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Section 8.08.</font></div>
</td>
<td style="vertical-align: bottom; width: 75%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Counterparts</font></div>
</td>
<td style="vertical-align: bottom; width: 10%">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
31</font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: bottom; width: 15%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Section 8.09.</font></div>
</td>
<td style="vertical-align: bottom; width: 75%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Severability</font></div>
</td>
<td style="vertical-align: bottom; width: 10%">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
31</font></div>
</td>
</tr><tr>
<td style="vertical-align: bottom; width: 15%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Section 8.10.</font></div>
</td>
<td style="vertical-align: bottom; width: 75%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Headings</font></div>
</td>
<td style="vertical-align: bottom; width: 10%">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
31</font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: bottom; width: 15%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Section 8.11.</font></div>
</td>
<td style="vertical-align: bottom; width: 75%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Governing Law</font></div>
</td>
<td style="vertical-align: bottom; width: 10%">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
31</font></div>
</td>
</tr><tr>
<td style="vertical-align: bottom; width: 15%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Section 8.12.</font></div>
</td>
<td style="vertical-align: bottom; width: 75%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Submission To Jurisdiction</font></div>
</td>
<td style="vertical-align: bottom; width: 10%">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
31</font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: bottom; width: 15%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Section 8.13.</font></div>
</td>
<td style="vertical-align: bottom; width: 75%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Acknowledgements</font></div>
</td>
<td style="vertical-align: bottom; width: 10%">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
32</font></div>
</td>
</tr><tr>
<td style="vertical-align: bottom; width: 15%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Section 8.14.</font></div>
</td>
<td style="vertical-align: bottom; width: 75%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Additional Grantors</font></div>
</td>
<td style="vertical-align: bottom; width: 10%">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
32</font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: bottom; width: 15%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Section 8.15.</font></div>
</td>
<td style="vertical-align: bottom; width: 75%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Release</font></div>
</td>
<td style="vertical-align: bottom; width: 10%">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
32</font></div>
</td>
</tr><tr>
<td style="vertical-align: bottom; width: 15%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Section 8.16.</font></div>
</td>
<td style="vertical-align: bottom; width: 75%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
WAIVER OF JURY TRIAL</font></div>
</td>
<td style="vertical-align: bottom; width: 10%">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
33</font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: bottom; width: 15%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Section 8.17.</font></div>
</td>
<td style="vertical-align: bottom; width: 75%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
INTEGRATION</font></div>
</td>
<td style="vertical-align: bottom; width: 10%">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
33</font></div>
</td>
</tr><tr>
<td style="vertical-align: bottom; width: 15%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Section 8.18.</font></div>
</td>
<td style="vertical-align: bottom; width: 75%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Time is of the Essence</font></div>
</td>
<td style="vertical-align: bottom; width: 10%">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
33</font></div>
</td>
</tr><tr style="background-color: rgb(204, 238, 255);">
<td style="vertical-align: bottom; width: 15%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Section 8.19.</font></div>
</td>
<td style="vertical-align: bottom; width: 75%;">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Survival</font></div>
</td>
<td style="vertical-align: bottom; width: 10%">
<div style="text-align: right; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
33</font></div>
</td>
</tr></table>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">ii<br>
</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="pb" style="text-align: center; page-break-after: always; margin-left: 0px; margin-right: 0px; margin-bottom: 6px; width: 100%; height: 1px; background-color: #000000">
<!--page break--></div>
<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="text-decoration: underline; font-family: Times New Roman; font-size: 13px">
SCHEDULES</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table">
<div style="display: table-row">
<div style="display: table-cell; width: 144px"><font style="font-family: Times New Roman; font-size: 13px">Schedule
4.01&#xA0;&#xA0;<br></font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Title; No Other
Liens</font></div>
</div>
</div>
<div style="display: table">
<div style="display: table-row">
<div style="display: table-cell; width: 144px"><font style="font-family: Times New Roman; font-size: 13px">Schedule
4.02<br></font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Perfected Priority
Liens</font></div>
</div>
</div>
<div style="display: table">
<div style="display: table-row">
<div style="display: table-cell; width: 144px"><font style="font-family: Times New Roman; font-size: 13px">Schedule
4.03&#xA0;&#xA0;&#xA0;&#xA0;<br></font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Chief Executive
Office; Etc.</font></div>
</div>
</div>
<div style="display: table">
<div style="display: table-row">
<div style="display: table-cell; width: 144px"><font style="font-family: Times New Roman; font-size: 13px">Schedule
4.04&#xA0;&#xA0;<br></font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Inventory and
Equipment</font></div>
</div>
</div>
<div style="display: table">
<div style="display: table-row">
<div style="display: table-cell; width: 144px"><font style="font-family: Times New Roman; font-size: 13px">Schedule
4.06&#xA0;<br></font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Investment
Property</font></div>
</div>
</div>
<div style="display: table">
<div style="display: table-row">
<div style="display: table-cell; width: 144px"><font style="font-family: Times New Roman; font-size: 13px">Schedule
4.08<br></font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Intellectual
Property</font></div>
</div>
</div>
<div style="display: table">
<div style="display: table-row">
<div style="display: table-cell; width: 144px"><font style="font-family: Times New Roman; font-size: 13px">Schedule
4.09&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br></font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Securities
Accounts; Commodities Accounts and Deposit Accounts</font></div>
</div>
</div>
<div style="display: table">
<div style="display: table-row">
<div style="display: table-cell; width: 144px"><font style="font-family: Times New Roman; font-size: 13px">Schedule
4.10&#xA0;<br></font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Commercial Tort
Claims</font></div>
</div>
</div>
<div style="display: table">
<div style="display: table-row">
<div style="display: table-cell; width: 144px"><font style="font-family: Times New Roman; font-size: 13px">Schedule
4.11<br></font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Letters of
Credit</font></div>
</div>
</div>
<div style="display: table">
<div style="display: table-row">
<div style="display: table-cell; width: 144px"><font style="font-family: Times New Roman; font-size: 13px">Schedule
4.13</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Assigned
Agreements</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="text-decoration: underline; font-family: Times New Roman; font-size: 13px">
ANNEXES</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table">
<div style="display: table-row">
<div style="display: table-cell; width: 96px"><font style="font-family: Times New Roman; font-size: 13px">Annex
1&#xA0;&#xA0;&#xA0;<br></font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Form of Assumption
Agreement</font></div>
</div>
</div>
<div style="display: table">
<div style="display: table-row">
<div style="display: table-cell; width: 96px"><font style="font-family: Times New Roman; font-size: 13px">Annex
2&#xA0;&#xA0;&#xA0;<br></font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Form of
Intellectual Property Security Agreement</font></div>
</div>
</div>
<div style="display: table">
<div style="display: table-row">
<div style="display: table-cell; width: 96px"><font style="font-family: Times New Roman; font-size: 13px">Annex
3<br></font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Form of
Intellectual Property Security Agreement Supplement</font></div>
</div>
</div>
<div style="display: table">
<div style="display: table-row">
<div style="display: table-cell; width: 96px"><font style="font-family: Times New Roman; font-size: 13px">Annex
4&#xA0;<br></font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px">Form of Consent and
Agreement</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">&#xA0;
<font style="font-family: Times New Roman; font-size: 13px">iii</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="pb" style="text-align: center; page-break-after: always; margin-left: 0px; margin-right: 0px; margin-bottom: 6px; width: 100%; height: 1px; background-color: #000000">
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GENERAL SECURITY AGREEMENT</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">This
GENERAL SECURITY AGREEMENT, (the &#x201C;<font style="text-decoration: underline">Agreement</font>&#x201D;) dated as of
December 3, 2018, is made by Aemetis Property Keyes, Inc., a
Delaware corporation (the &#x201C;<font style="text-decoration: underline">Company</font>&#x201D;), as a grantor,
and any subsidiary of the Company that may from time to time become
party hereto (in accordance with Section 8.14 hereof) as a grantor
(collectively with the Company, the &#x201C;<font style="text-decoration: underline">Grantors</font>&#x201D;), in favor of
THIRD EYE CAPITAL CORPORATION, as administrative agent and
collateral agent for and on behalf of the Noteholders (as defined
in the Note Purchase Agreement referred to below) (in such
aforesaid capacities, or any successor or assign in such
capacities, the &#x201C;<font style="text-decoration: underline">Agent</font>&#x201D;).</font></div>
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RECITALS</font></div>
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<font style="font-family: Times New Roman; font-size: 13px"><font style="font-size: 13px">A.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Goodland
Advanced Fuels, Inc., the Noteholders from time to time party
thereto, and the Agent have entered into that certain Note Purchase
Agreement dated as of June 30, 2017 (as amended by the Amendment
No. 1 to Note Purchase Agreement dated June 28, 2018, the Amendment
No. 2 to Note Purchase Agreement dated December 3, 2018 and as
amended, varied, supplemented, restated, renewed or replaced at any
time and from time to time, the "<font style="text-decoration: underline">Note Purchase
Agreement</font>");</font></div>
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<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-size: 13px">B.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Each
Grantor has entered into a guaranty (as amended, varied,
supplemented, restated, renewed or replaced at any time and from
time to time, the "<font style="text-decoration: underline">Limited
Guaranty</font>") to guarantee the Guaranteed Obligations (as
defined in the Limited Guaranty);</font></div>
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<font style="font-family: Times New Roman; font-size: 13px"><font style="font-size: 13px">C.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Each
Grantor will derive substantial direct and indirect benefit from
the making of the Loans under the Note Purchase Agreement;
and</font></div>
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<font style="font-family: Times New Roman; font-size: 13px"><font style="font-size: 13px">D.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;It
is a condition precedent to the obligation of the Noteholders to
make Loans under the Note Purchase Agreement that each Grantor
shall have executed and delivered this Agreement to the Agent, for
the benefit of the Agent, the Noteholders from time to time party
to the Note Purchase Agreement and any other holder of any Note
Indebtedness (collectively with the Agent and the Noteholders, the
&#x201C;<font style="text-decoration: underline">Secured
Parties</font>&#x201D;).</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">NOW,
THEREFORE, in consideration of the premises and to induce the
Noteholders to make the Loans pursuant to the Note Purchase
Agreement and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, each
Grantor hereby agrees with the Agent, for the benefit of the
Secured Parties, as follows:</font></div>
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<a name="_Toc333926140"><!--anchor--></a>ARTICLE
I</font></div>
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DEFINED TERMS</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Section
1.01.&#xA0;&#xA0;&#xA0; <font style="text-decoration: underline">Definitions</font></font><font style="font-family: Times New Roman; font-size: 13px">. Unless otherwise
defined herein, terms defined in the Note Purchase Agreement and
used herein shall have the meanings given to them in the Note
Purchase Agreement. Furthermore, unless otherwise defined in this
Agreement or in the Note Purchase Agreement, terms defined in
Article 8 or 9 of the UCC (as defined below) are used in this
Agreement as such terms are defined in such Article 8 or
9.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;The
following terms shall have the following meanings:</font></div>
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<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">"<font style="text-decoration: underline">Accounts</font>" means all "accounts"
as such term is defined in Article 9 of the UCC.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">"<font style="text-decoration: underline">Agreement</font>" means this General
Security Agreement, as amended, varied, supplemented, restated,
renewed or replaced at any time and from time to time.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">"<font style="text-decoration: underline">Assigned Agreements</font>" means the
contracts and agreements listed in <font style="text-decoration: underline">Schedule 4.13</font>, as the same may
be amended, restated, supplemented or otherwise modified from time
to time, including, without limitation, (i) all rights of any
Grantor to receive moneys due and to become due to it thereunder or
in connection therewith, (ii) all rights of any Grantor to receive
proceeds of any insurance, indemnity, warranty, or guaranty
thereunder or in connection therewith, (iii) all rights of any
Grantor to damages arising thereunder or in connection therewith
and (iv) all rights of any Grantor to perform thereunder and to
compel performance and otherwise exercise rights and remedies
thereunder.</font></div>
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<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">"<font style="text-decoration: underline">Assumption Agreement</font>" means an
Assumption Agreement in substantially the form of <font style="text-decoration: underline">Annex&#xA0;1</font> to this
Agreement.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="text-decoration: underline">Capital Stock</font>&#x201D; means,
with respect to any Person, (a) any and all of the shares,
interests, rights, participations or other equivalents (however
designated) of capital stock of (or other ownership or profit
interests in) such Person, (b) any and all of the warrants, options
or other rights for the purchase or acquisition from such Person of
shares of capital stock of (or other ownership or profit interests
in) such Person, and (c) all of the securities convertible into or
exchangeable for shares of capital stock of (or other ownership or
profit interests in) such Person or warrants, rights or options for
the purchase or acquisition from such Person of such shares (or
such other interests), and all of the other ownership or profit
interests in such Person (including partnership, member or trust
interests therein), in the case of clauses (a) through (c) above,
whether voting or nonvoting, and whether or not such shares,
participations, warrants, options, rights or other interests are
outstanding on any date of determination.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">"<font style="text-decoration: underline">Collateral</font>" has the meaning
specified in Section 3.01.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">"<font style="text-decoration: underline">Collateral Accounts</font>" means any
collateral account established by the Agent pursuant to this
Agreement or the Note Purchase Agreement. Each Collateral Account
shall be in the name of the Agent and shall be under the sole
dominion and control of the Agent.</font></div>
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<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">"<font style="text-decoration: underline">Commodity Account Control
Agreement</font>" has the meaning specified in Section
5.01(e).</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">"<font style="text-decoration: underline">Company</font>" has the meaning
specified in the opening paragraph of this Agreement.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">"<font style="text-decoration: underline">Computer Software</font>" means all
computer software, programs and databases (including, without
limitation, source code, object code and all related applications
and data files), firmware and documentation and materials relating
thereto, together with any and all maintenance rights, service
rights, programming rights, hosting rights, test rights,
improvement rights, renewal rights and indemnification rights and
any substitutions, replacements, improvements, error corrections,
updates and new versions of any of the foregoing.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">"<font style="text-decoration: underline">Consent to Assignment of Letter of
Credit Rights</font>" has the meaning specified in Section
5.01(g).</font></div>
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<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">"<font style="text-decoration: underline">Control Agreement</font>" means a
Deposit Account Control Agreement, Securities Account Control
Agreement, Commodity Account Control Agreement or Uncertificated
Security Control Agreement.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">"<font style="text-decoration: underline">Copyright Licenses</font>" means any
written agreement naming any Grantor as licensor or licensee
(including, without limitation, those listed in <font style="text-decoration: underline">Schedule 4.08</font>), granting any
right under any Copyright, including, without limitation, the grant
of rights to manufacture, distribute, exploit and sell materials
derived from any Copyright.</font></div>
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<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">"<font style="text-decoration: underline">Copyrights</font>" means (i) all
copyrights arising under the laws of the United States, any other
country or any political subdivision thereof, whether registered or
unregistered and whether published or unpublished (including,
without limitation, those listed in <font style="text-decoration: underline">Schedule 4.08</font>), all
registrations and recordings thereof, and all applications in
connection therewith, including, without limitation, all
registrations, recordings and applications in the United States
Copyright Office, and (ii) the right to obtain all renewals
thereof.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">"<font style="text-decoration: underline">Deposit Account Control
Agreement</font>" has the meaning specified in Section
5.01(f).</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">"<font style="text-decoration: underline">Equipment</font>" means all
"equipment" as such term is defined in Article 9 of the UCC and, in
any event, includes, without limitation, all machinery, tools,
office equipment, furniture, furnishings, and fixtures (including
trade fixtures and business fixtures) and all parts thereof and all
accessions thereto and all software related thereto.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">"<font style="text-decoration: underline">General Intangibles</font>" means all
"general intangibles" as such term is defined in Article 9 of the
UCC and, in any event, includes, without limitation, with respect
to each Grantor, (i)&#xA0;all tax refunds, claims for tax refunds,
and tax credits, (ii)&#xA0;all permits, licenses, approvals,
authorizations, consents, variances, and certifications of any
Governmental Authority, (iii)&#xA0;all judgments, claims, tort
claims, and causes of action, (iv)&#xA0;all property, casualty,
liability, business interruption, and other insurance of any kind
or character, and all insurance claims and insurance refund claims,
(v)&#xA0;all letters of credit and letter-of-credit rights,
(vi)&#xA0;all payment intangibles, (vii)&#xA0;all lists, customer
lists, books, records, recorded knowledge, goodwill, ledgers, files
(whether in printed form or stored electronically), designs,
blueprints, data, specifications, engineering reports, and manuals,
computer programs and software, and (viii)&#xA0;all contracts,
agreements, instruments and indentures in any form, and portions
thereof, to which such Grantor is a party or under which such
Grantor has any right, title or interest or to which such Grantor
or any property of such Grantor is subject, as the same may from
time to time be amended, supplemented, replaced or otherwise
modified, including, without limitation, (A) all rights of such
Grantor to receive moneys due and to become due to it thereunder or
in connection therewith, (B) all rights of such Grantor to damages
arising thereunder and (C) all rights of such Grantor to perform
and to exercise all remedies thereunder.</font></div>
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<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">"<font style="text-decoration: underline">Indemnified Party</font>" has the
meaning specified in Section 8.05(a).</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">"<font style="text-decoration: underline">Intellectual Property</font>" means
the collective reference to all rights, priorities and privileges
relating to intellectual property, whether arising under United
States, multinational or foreign laws or otherwise, including,
without limitation, all Copyrights, Patents, Trademarks, IP
Agreements, Trade Secrets, Computer Software, and internet domain
names, and all rights to sue at law or in equity for any
infringement or other impairment thereof, including the right to
receive all proceeds and damages therefrom.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">"<font style="text-decoration: underline">Intellectual Property Security
Agreement</font>" has the meaning specified in Section
5.10(f).</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">"<font style="text-decoration: underline">Intercompany Note</font>" means each
promissory note evidencing loans, advances or other extensions of
credit made by any Grantor to any other Obligor or any of such
Grantor&#x2019;s Subsidiaries.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">"<font style="text-decoration: underline">Inventory</font>" means all
"inventory" as such term is defined in Article 9 of the UCC and, in
any event, includes, without limitation, (i)&#xA0;all goods held
for sale or lease or to be furnished under contracts of service or
so leased or furnished, all raw materials, component materials,
work in process, finished goods, supplies and other materials used
or consumed in the manufacture, packing, shipping, advertising,
selling, leasing, furnishing or production of such inventory or
otherwise used or consumed in any Grantor&#x2019;s business,
(ii)&#xA0;all goods in which any Grantor has an interest in mass or
a joint or other interest or right of any kind, (iii) all goods
that are returned to or repossessed by or on behalf of any Grantor,
(iv)&#xA0;all computer programs embedded in any goods and all
accessions thereto and products thereof and (v)&#xA0;all documents
therefor and all software relating to any of the
foregoing.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">"<font style="text-decoration: underline">Investment Property</font>" means the
collective reference to (i) all "investment property" as such term
is defined in Section 9-102(a)(49) of the UCC, and (ii) whether or
not constituting "investment property" as so defined, all Pledged
Securities.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">"<font style="text-decoration: underline">IP Agreements</font>" means all
Copyright Licenses, Patent Licenses, Trademark Licenses and all
other agreements, permits, consents, orders, and franchises
relating to the license, development or use of any Copyright,
Patent, Trademark, Computer Software or Trade Secret.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">"<font style="text-decoration: underline">Issuers</font>" means the collective
reference to each issuer of any Investment Property.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">"<font style="text-decoration: underline">Patent Licenses</font>" means all
agreements, whether written or oral, providing for the grant by or
to any Grantor of any right to manufacture, use or sell any
invention covered in whole or in part by a Patent, including,
without limitation, any of the foregoing referred to in
<font style="text-decoration: underline">Schedule
4.08</font>.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">"<font style="text-decoration: underline">Patents</font>" means (i) all letters
patent of the United States, any other country or any political
subdivision thereof, all reissues and extensions thereof and all
goodwill associated therewith, including, without limitation, any
of the foregoing referred to in <font style="text-decoration: underline">Schedule 4.08</font>, (ii) all
applications for letters patent of the United States or any other
country and all divisions, continuations and continuations-in-part
thereof, including, without limitation, any of the foregoing
referred to in <font style="text-decoration: underline">Schedule
4.08</font>, and (iii) all rights to obtain any reissues or
extensions of the foregoing.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">"<font style="text-decoration: underline">Pledged Commodity Contracts</font>"
means all commodity contracts listed on <font style="text-decoration: underline">Schedule 4.06</font> and all other
commodity contracts to which any Grantor is party from time to
time.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">"<font style="text-decoration: underline">Pledged Debt Securities</font>" means
all debt securities now owned or hereafter acquired by any Grantor,
including, without limitation, the debt securities listed on
<font style="text-decoration: underline">Schedule 4.06</font>,
together with any certificates, options, rights or security
entitlements of any nature whatsoever in respect of the debt
securities of any Person that may at any time be issued or granted
to, or held by, any Grantor.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">"<font style="text-decoration: underline">Pledged Equity Interests</font>" shall
mean all Pledged Stock, Pledged LLC Interests, Pledged Partnership
Interests and Pledged Trust Interests.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">"<font style="text-decoration: underline">Pledged LLC Interests</font>" means
all interests of any Grantor now owned or hereafter acquired in any
limited liability company including, without limitation, all
limited liability company interests listed on <font style="text-decoration: underline">Schedule 4.06</font> hereto under the
heading "Pledged LLC Interests" and the certificates, if any,
representing such limited liability company interests and any
interest of such Grantor on the books and records of such limited
liability company and all dividends, distributions, cash, warrants,
rights, options, instruments, securities and other property or
proceeds from time to time received, receivable or otherwise
distributed in respect of or in exchange for any or all of such
limited liability company interests and any other warrant, right or
option to acquire any of the foregoing.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">"<font style="text-decoration: underline">Pledged Notes</font>" means all
Intercompany Notes at any time issued to any Grantor and all other
promissory notes issued to or held by any Grantor, including,
without limitation, the Pledged Notes described on <font style="text-decoration: underline">Schedule 4.06</font>.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">4</font></div>
</div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">"<font style="text-decoration: underline">Pledged Partnership Interests</font>"
means all interests of any Grantor now owned or hereafter acquired
in any general partnership, limited partnership, limited liability
partnership or other partnership including, without limitation, all
partnership interests listed on <font style="text-decoration: underline">Schedule 4.06</font> hereto under the
heading "Pledged Partnership Interests" and the certificates, if
any, representing such partnership interests and any interest of
such Grantor on the books and records of such partnership and all
dividends, distributions, cash, warrants, rights, options,
instruments, securities and other property or proceeds from time to
time received, receivable or otherwise distributed in respect of or
in exchange for any or all of such partnership interests and any
other warrant, right or option to acquire any of the
foregoing.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">"<font style="text-decoration: underline">Pledged Securities</font>" means the
collective reference to the Pledged Debt Securities, the Pledged
Notes and the Pledged Equity Interests.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">"<font style="text-decoration: underline">Pledged Security Entitlements</font>"
means all security entitlements with respect to the financial
assets listed on <font style="text-decoration: underline">Schedule
4.06</font> and all other security entitles of any
Grantor.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">"<font style="text-decoration: underline">Pledged Stock</font>" means all shares
of Capital Stock now owned or hereafter acquired by any Grantor,
including, without limitation, all shares of Capital Stock
described on <font style="text-decoration: underline">Schedule
4.06</font> hereto under the heading "Pledged Stock", and the
certificates, if any, representing such shares and any interest of
such Grantor in the entries on the books of the issuer of such
shares and all dividends, distributions, cash, warrants, rights,
options, instruments, securities and other property or proceeds
from time to time received, receivable or otherwise distributed in
respect of or in exchange for any or all of such shares and any
other warrant, right or option to acquire any of the
foregoing.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">"<font style="text-decoration: underline">Pledged Trust Interests</font>" means
all interests of any Grantor now owned or hereafter acquired in a
Delaware business trust or other trust including, without
limitation, all trust interests listed on <font style="text-decoration: underline">Schedule 4.06</font> hereto under the
heading "Pledged Trust Interests" and the certificates, if any,
representing such trust interests and any securities intermediary
pertaining to such interests and all dividends, distributions,
cash, warrants, rights, options, instruments, securities and other
property or proceeds from time to time received, receivable or
otherwise distributed in respect of or in exchange for any or all
of such trust interests and any other warrant, right or option to
acquire any of the foregoing.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">"<font style="text-decoration: underline">Proceeds</font>" shall mean all
"proceeds" as defined in Article 9 of the UCC and, in any event,
includes, without limitation, (i)&#xA0;all payments, dividends or
distributions made with respect to any Investment Property,
(ii)&#xA0;whatever is receivable or received when Collateral or
proceeds are sold, exchanged, collected or otherwise disposed of,
whether such disposition is voluntary or involuntary, and (iii) all
insurance proceeds.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">"<font style="text-decoration: underline">Receivable</font>" means any right to
payment for goods sold or leased or for services rendered, whether
or not such right is evidenced by an instrument or chattel paper
and whether or not it has been earned by performance (including,
without limitation, any Account).</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">"<font style="text-decoration: underline">Secured Parties</font>" has the
meaning specified in the recitals hereto.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">"<font style="text-decoration: underline">Securities Account Control
Agreement</font>" has the meaning specified in Section
5.01(d).</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">"<font style="text-decoration: underline">Securities Act</font>" means the
Securities Act of 1933, as amended.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">"<font style="text-decoration: underline">Trademark Licenses</font>" means any
agreement, whether written or oral, providing for the grant by or
to any Grantor of any right to use any Trademark, including,
without limitation, any of the foregoing referred to in
<font style="text-decoration: underline">Schedule
4.08</font>.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">5</font></div>
</div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">"<font style="text-decoration: underline">Trademarks</font>" means (i) all
trademarks, trade names, corporate names, company names, business
names, fictitious business names, trade styles, service marks,
logos and other source or business identifiers, and all goodwill
associated therewith, now existing or hereafter adopted or
acquired, all registrations and recordings thereof, and all
applications in connection therewith, whether in the United States
Patent and Trademark Office or in any similar office or agency of
the United States, any State thereof or any other country or any
political subdivision thereof, or otherwise, and all common-law
rights related thereto, including, without limitation, any of the
foregoing referred to in <font style="text-decoration: underline">Schedule 4.08</font>, and (ii) the
right to obtain all renewals thereof.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">"<font style="text-decoration: underline">Trade Secrets</font>" means all
confidential and proprietary information, including, without
limitation, know-how, trade secrets, manufacturing and production
processes and techniques, inventions, research and development
information, databases and data, including, without limitation,
technical data, financial, marketing and business data, pricing and
cost information, business and marketing plans and customer and
supplier lists and information.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">"<font style="text-decoration: underline">UETA</font>" means the Uniform
Electronic Transactions Act, as in effect in any applicable
jurisdiction.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">"<font style="text-decoration: underline">UCC</font>" means the Uniform
Commercial Code as in effect from time to time in the State of New
York; provided, that if perfection or the effect of perfection or
non-perfection or the priority of any security interest in any
Collateral is governed by the Uniform Commercial Code as in effect
in a jurisdiction other than the State of New York,
&#x201C;UCC&#x201D; means the Uniform Commercial Code as in effect
from time to time in such other jurisdiction for purposes of the
provisions hereof relating to such perfection, effect of perfection
or non-perfection or priority.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">"<font style="text-decoration: underline">Uncertificated Security Control
Agreement</font>" has the meaning specified in Section
5.01(c).</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
1.02.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline">Other Definitional
Provisions</font></font><font style="font-family: Times New Roman; font-size: 13px">. The rules of
construction specified in Sections 1.2, 1.3 and 1.4 of the Note
Purchase Agreement shall apply to this Agreement, <font style="font-style: italic">mutatis mutandis</font>.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;The
expressions "payment in full," "paid in full" and any other similar
terms or phrases when used herein with respect to the Guaranteed
Obligations shall mean the unconditional, final, indefeasible and
irrevocable payment in full, in immediately available funds, of all
of the Guaranteed Obligations.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Where
the context requires, terms relating to the Collateral or any part
thereof, when used in relation to a Grantor, shall refer to such
Grantor&#x2019;s Collateral or the relevant part
thereof.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
ARTICLE II</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
[RESERVED]</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
ARTICLE II</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
GRANT OF SECURITY INTEREST</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
3.01.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0; <font style="text-decoration: underline">Grant of
Security</font></font><font style="font-family: Times New Roman; font-size: 13px">. Each Grantor
hereby assigns and transfers to the Agent, and hereby grants to the
Agent, for the benefit of the Secured Parties, a security interest
in, all of the following property now owned or at any time
hereafter acquired by such Grantor or in which such Grantor now has
or at any time in the future may acquire any right, title or
interest (collectively, the "<font style="text-decoration: underline">Collateral</font>"), as collateral
security for the prompt and complete payment and performance when
due (whether at the stated maturity, by acceleration or otherwise)
of the Guaranteed Obligations (as defined in the Limited
Guaranty):</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">6</font></div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;all
Accounts;</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;all
as-extracted collateral;</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(c)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;all
chattel paper;</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(d)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;all
commercial tort claims, including those described on <font style="text-decoration: underline">Schedule&#xA0;4.10</font>;</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(e)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;all
deposit accounts;</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(f)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;all
documents;</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(g)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;all
Equipment;</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(h)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;all
fixtures;</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(i)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
&#xA0; all General Intangibles;</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(j)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
&#xA0;&#xA0; all goods;</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(k)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;all
instruments;</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(l)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
&#xA0;&#xA0; all Intellectual Property;</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(m)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
all Inventory;</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(n)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;all
Investment Property;</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(o)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;all
money;</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(p)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;all
supporting obligations;</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(q)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;all
real property and all other personal property of any kind or
character, whether tangible or intangible;</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(r)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;all
books and records pertaining to the Collateral; and</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(s)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;to
the extent not otherwise included, all Proceeds and products of any
and all of the foregoing and all collateral security and guarantees
given by any Person with respect to any of the
foregoing.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
ARTICLE IV</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
REPRESENTATIONS AND WARRANTIES</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">To
induce the Noteholders to make the Loans under the Note Purchase
Agreement, each Grantor hereby represents and warrants, to the
Agent and each other Secured Party that as of the date of this
Agreement (and such other times that Grantors are required to make
these representations and warranties under this Agreement or
another Note Purchase Document):</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">7</font></div>
</div>
<div id="pb" style="text-align: center; page-break-after: always; margin-left: 0px; margin-right: 0px; margin-bottom: 6px; width: 100%; height: 1px; background-color: #000000">
<!--page break--></div>
<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px;">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
4.01.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline">Title; No Other
Liens</font></font><font style="font-family: Times New Roman; font-size: 13px">. Except for the
security interest granted to the Agent, for the benefit of the
Secured Parties, pursuant to this Agreement or any other Note
Purchase Document and the other Liens expressly permitted to exist
on the Collateral pursuant to the Note Purchase Agreement, such
Grantor is the legal and beneficial owner of each item of the
Collateral free and clear of any and all Liens, claims, or other
encumbrances. No financing statement, fixture filing or other
public notice with respect to all or any part of the Collateral is
on file or of record in any filing or recording office, except such
as have been filed in favor of the Agent, for the benefit of the
Secured Parties, pursuant to this Agreement or any other Note
Purchase Document or as are otherwise expressly permitted under the
Note Purchase Agreement.</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
4.02.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline">Perfected Priority
Liens.</font></font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;The
security interests granted pursuant to this Agreement (i) upon
completion of the filings and other actions specified on
<font style="text-decoration: underline">Schedule 4.01</font>
(which, in the case of all filings and other documents referred to
on said Schedule, have been delivered to the Agent in completed and
duly executed form and may be filed by the Agent at any time) will
constitute valid perfected security interests in all of the
Collateral in favor of the Agent, for the benefit of the Secured
Parties, as collateral security for the Guaranteed Obligations,
enforceable in accordance with the terms hereof against all
creditors of such Grantor and any Persons purporting to purchase
any Collateral from such Grantor and (ii) are prior to all other
Liens on the Collateral except for (A) unrecorded Liens expressly
permitted by the Note Purchase Agreement which have priority over
the Liens on the Collateral by operation of law and (B) Liens
described on <font style="text-decoration: underline">Schedule
4.02</font>.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Without
limiting Section 4.02(a), each Grantor has taken all actions
necessary or desirable, to the extent required by the Note Purchase
Documents or requested by the Agent, including without limitation
those specified in Section 5.01 of this Agreement to: (i) establish
the Agent&#x2019;s "control" (within the meanings of Sections 8-106
and 9-106 of the UCC) over any portion of the Investment Property
of such Grantor constituting certificated securities,
uncertificated securities, securities accounts, security
entitlements, or commodity accounts or commodity contracts, (ii)
establish the Agent&#x2019;s "control" (within the meaning of
Section 9-104 of the UCC) over all deposit accounts of such
Grantor, (iii) establish the Agent&#x2019;s "control" (within the
meaning of Section 9-107 of the UCC) over all letter-of-credit
rights of such Grantor, (iv) establish the Agent&#x2019;s "control"
(within the meaning of Section 9-105 of the UCC) over all
electronic chattel paper of such Grantor and (v) establish the
Agent&#x2019;s "control" within the meaning of Section 16 of the
UETA over all "transferable records" (as defined in UETA) of such
Grantor.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(c)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;All
tangible chattel paper, instruments and negotiable documents of
each Grantor has been delivered to the Agent.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
4.03.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline">Chief Executive Office;
Etc.</font></font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
&#xA0;&#xA0; &#xA0; Each Grantor&#x2019;s type of organization,
jurisdiction of organization, organizational identification number,
taxpayer identification number and the location of each
Grantor&#x2019;s chief executive office or sole place of business,
as the case may be, are specified on <font style="text-decoration: underline">Schedule 4.03</font>.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Such
Grantor&#x2019;s exact legal name is set forth on <font style="text-decoration: underline">Schedule 4.03</font> and such Grantor
has not conducted business in the last five (5) years, and does not
conduct business, under any other name (including any trade-name or
fictitious business name) except for those names listed on
<font style="text-decoration: underline">Schedule
4.03</font>.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(c)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Except
as provided in <font style="text-decoration: underline">Schedule
4.03</font>, such Grantor has not changed its name, jurisdiction of
organization, organizational identification number, type of
organization, taxpayer identification number, chief executive
office or sole place of business or its organizational structure in
any way (e.g., by merger, consolidation, change in organizational
form or otherwise) within the past five (5) years.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">8</font></div>
</div>
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<!--page break--></div>
<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(d)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Such
Grantor has not within the last five (5) years become bound
(whether by merger or otherwise) as a debtor under a security
agreement entered into by another Person, which has not been
terminated other than security agreements identified on
<font style="text-decoration: underline">Schedule
4.03</font>.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(e)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;With
respect to each security agreement identified on <font style="text-decoration: underline">Schedule 4.03</font> pursuant to
Section 4.04(d), such Grantor has set forth on <font style="text-decoration: underline">Schedule 4.03</font> the information
required pursuant to clauses (a), (b) and (c) of this Section for
the debtor under each such security agreement.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(f)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;All
actions and consents, filings, notices, registrations, and
recordings necessary or desirable for the exercise by the Agent of
the voting or other rights provided for in this Agreement or the
exercise of remedies in respect of the Collateral have been taken,
made or obtained or, in the case of filings or recordings,
authorized.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(g)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;The
information on <font style="text-decoration: underline; font-size: 13px">Schedule 4.03</font>
with respect to such Grantor is true and correct in all
respects.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(h)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;All
information supplied by such Grantor to the Agent with respect to
the Collateral is accurate and complete.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
4.04.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline">Inventory and
Equipment.</font></font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;All
of the Inventory and the Equipment of such Grantor is kept at the
locations listed on <font style="text-decoration: underline">Schedule 4.04</font>.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;None
of the Inventory or Equipment of such Grantor is in the possession
of an issuer of a negotiable document (as defined in Section 7-104
of the UCC) therefor or otherwise in the possession of a bailee or
warehouseman.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(c)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;All
Equipment of such Grantor that is subject to a certificate of title
statute is described on <font style="text-decoration: underline">Schedule 4.04</font>.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
4.05.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
&#xA0; <font style="text-decoration: underline">Farm
Products</font></font><font style="font-family: Times New Roman; font-size: 13px">. None of the
Collateral constitutes, or is the Proceeds of, farm
products.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
4.06.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline">Investment
Property</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px"><br></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Schedule
4.06</font> hereto sets forth under the headings "Pledged Stock,"
"Pledged LLC Interests," "Pledged Partnership Interests" and
"Pledged Trust Interests," respectively, all of the Pledged Stock,
Pledged LLC Interests, Pledged Partnership Interests and Pledged
Trust Interests owned by each Grantor and such Pledged Equity
Interests constitute the percentage of issued and outstanding
shares of stock, percentage of membership interests, percentage of
partnership interests or percentage of beneficial or ownership
interests of the respective Issuers thereof indicated on such
Schedule.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Schedule
4.06</font> hereto sets forth under the heading "Pledged Debt
Securities" or "Pledged Notes" all of the Pledged Debt Securities
and Pledged Notes owned by each Grantor and (i) each such Pledged
Debt Security and Pledged Note has been duly authorized,
authenticated or issued, and delivered and is the legal, valid and
binding obligation of the Issuer thereof enforceable against such
Issuer in accordance with its terms, and (ii) the Issuer of each
such Pledged Debt Security is not in default of any of its
obligations thereunder.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">9</font></div>
</div>
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(c)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Each
of the Pledged Equity Interests owned by such Grantor has been duly
authorized and validly issued and is fully paid and
nonassessable.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(d)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Such
Grantor is the record and beneficial owner of, and has good and
marketable title to, the Pledged Equity Interests pledged by it
hereunder, free and clear of any and all Liens or options in favor
of, or claims of, any other Person, except the security interest
created by this Agreement, and there are no outstanding preemptive
rights, warrants, options or other rights to purchase, or
shareholder, voting trust or similar agreements outstanding with
respect to, or property that is convertible into, or that requires
the issuance or sale of, Pledged Equity Interests.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(e)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;No
consent of any Person, including any other general or limited
partner, any other member of a limited liability company, any other
shareholder or any other trust beneficiary is necessary or
desirable in connection with the creation, perfection or first
priority status of the security interest of the Agent hereunder in
any Pledged Equity Interests or the exercise by the Agent of the
voting or other rights provided for in this Agreement or the
exercise of remedies in respect thereof.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(f)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;All
certificated securities owned by such Grantor have been delivered
to the Agent.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(g)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;The
terms of each Pledged Partnership Interest and Pledged LLC Interest
expressly provide that they are securities governed by Article 8 of
the Uniform Commercial Code.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
4.07.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline">Receivables.</font></font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Each
Receivable (i) is and will be the legal, valid and binding
obligation of the account debtor in respect thereof, (ii) is and
will be enforceable in accordance with its terms, (iii) is and will
not be subject to any setoffs, defenses, taxes or counterclaims
(except with respect to disputes, refunds, returns, discounts and
allowances in the ordinary course of business) and (iv) is and will
be in compliance with all Requirements of Law.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;No
amount payable to such Grantor under or in connection with any
Receivable is evidenced by any certificated security, instrument or
tangible chattel paper that has not been delivered to the Agent or
constitutes electronic chattel paper that has not been subjected to
the control (within the meaning of Section 9-105 of the UCC) of the
Agent.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(c)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;None
of the obligors on any of the Receivables is a Governmental
Authority.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(d)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;The
amounts represented by such Grantor to the Agent from time to time
as owing to such Grantor in respect of the Receivables will at such
times be accurate.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
4.08.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline">Intellectual
Property.</font></font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
&#xA0; &#xA0; &#xA0; The operation of such Grantor&#x2019;s business
as currently conducted or as contemplated to be conducted and the
use of the Intellectual Property in connection therewith do not
conflict with, infringe, misappropriate, dilute, misuse or
otherwise violate the intellectual property rights of any third
party.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
Except as set forth on Schedule 4.08, such Grantor is the exclusive
owner of all right, title and interest in and to the Intellectual
Property, and is entitled to use all Intellectual Property subject
only to the terms of the IP Agreements.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">10</font></div>
</div>
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(c)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;The
Intellectual Property set forth on <font style="text-decoration: underline">Schedule 4.06</font> hereto includes
all of the patents, patent applications, domain names, trademark
registrations and applications, copyright registrations and
applications and IP Agreements owned by such Grantor.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(d)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;The
Intellectual Property is subsisting and has not been adjudged
invalid or unenforceable in whole or part, and to the best of such
Grantor&#x2019;s knowledge, is valid and enforceable. Such Grantor
is not aware of any uses of any item of Intellectual Property that
could be expected to lead to such item becoming invalid or
unenforceable.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(e)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Such
Grantor has made or performed all filings, recordings and other
acts and has paid all required fees and taxes to maintain and
protect its interest in each and every item of Intellectual
Property in full force and effect throughout the world, and to
protect and maintain its interest therein including, without
limitation, recordations of any of its interests in the Patents and
Trademarks with the United States Patent and Trademark Office and
in corresponding national and international patent offices, and
recordation of any of its interests in the Copyrights with the
United States Copyright Office and in corresponding national and
international copyright offices. Such Grantor has used proper
statutory notice in connection with its use of each patent,
trademark and copyright in the Intellectual Property.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(f)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;No
claim, action, suit, investigation, litigation or proceeding has
been asserted or is pending or threatened against such Grantor (i)
based upon or challenging or seeking to deny or restrict the
Grantor&#x2019;s rights in or use of any of the Intellectual
Property, (ii) alleging that the Grantor&#x2019;s rights in or use
of the Intellectual Property or that any services provided by,
processes used by, or products manufactured or sold by, such
Grantor infringe, misappropriate, dilute, misuse or otherwise
violate any patent, trademark, copyright or any other proprietary
right of any third party, or (iii) alleging that the Intellectual
Property is being licensed or sublicensed in violation or
contravention of the terms of any license or other agreement. To
the best of Grantor&#x2019;s knowledge, no Person is engaging in any
activity that infringes, misappropriates, dilutes, misuses or
otherwise violates the Intellectual Property or the Grantor&#x2019;s
rights in or use thereof. Except as set forth on <font style="text-decoration: underline">Schedule 4.06</font> hereto, such
Grantor has not granted any license, release, covenant not to sue,
non-assertion assurance, or other right to any Person with respect
to any part of the Intellectual Property. The consummation of the
transactions contemplated by the Note Purchase Documents will not
result in the termination or impairment of any of the Intellectual
Property.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(g)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;To
the best of Grantor&#x2019;s knowledge, with respect to each IP
Agreement: (i) such IP Agreement is valid and binding and in full
force and effect and represents the entire agreement between the
respective parties thereto with respect to the subject matter
thereof; (ii) such IP Agreement will not cease to be valid and
binding and in full force and effect on terms identical to those
currently in effect as a result of the rights and interest granted
herein, nor will the grant of such rights and interest constitute a
breach or default under such IP Agreement or otherwise give any
party thereto a right to terminate such IP Agreement; (iii) such
Grantor has not received any notice of termination or cancellation
under such IP Agreement; (iv) such Grantor has not received any
notice of a breach or default under such IP Agreement, which breach
or default has not been cured; (v) such Grantor has not granted to
any other third party any rights, adverse or otherwise, under such
IP Agreement; and (vi) neither such Grantor nor any other party to
such IP Agreement is in breach or default thereof in any material
respect, and no event has occurred that, with notice or lapse of
time or both, would constitute such a breach or default or permit
termination, modification or acceleration under such IP
Agreement.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(h)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;To
the best of such Grantor&#x2019;s knowledge, (A) none of the Trade
Secrets of such Grantor has been used, divulged, disclosed or
appropriated to the detriment of such Grantor for the benefit of
any other Person other than such Grantor; (B) no employee,
independent contractor or agent of such Grantor has misappropriated
any trade secrets of any other Person in the course of the
performance of his or her duties as an employee, independent
contractor or agent of such Grantor; and (C) no employee,
independent contractor or agent of such Grantor is in default or
breach of any term of any employment agreement, non-disclosure
agreement, assignment of inventions agreement or similar agreement
or contract relating in any way to the protection, ownership,
development, use or transfer of such Grantor&#x2019;s Intellectual
Property.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">11</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(i)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;No
Grantor or Intellectual Property is subject to any outstanding
consent, settlement, decree, order, injunction, judgment or ruling
restricting the use of any Intellectual Property or that would
impair the validity or enforceability of such Intellectual
Property.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
4.09.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline">Securities Accounts,
Commodities Accounts and Deposit Accounts.</font></font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Schedule
4.09</font> sets forth under the headings "Securities Accounts" and
"Commodities Accounts," respectively, all of the securities
accounts and commodities accounts in which each Grantor has an
interest. Each Grantor is the sole entitlement holder of each such
securities account and commodity account shown opposite its name on
<font style="text-decoration: underline">Schedule 4.09</font>, and
such Grantor has not consented, to, and is not otherwise aware of,
any Person (other than the Agent pursuant hereto) having "control"
(within the meanings of Sections 8-106 and 9-106 of the UCC) over,
or any other interest in or claim against, any such securities
account or commodity account or any securities, commodities or
other property credited thereto.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Schedule
4.09</font> sets forth under the heading "Deposit Accounts" all of
the deposit accounts in which each Grantor has an interest. Each
Grantor is the sole account holder of each such deposit account
shown opposite its name on <font style="text-decoration: underline">Schedule 4.09</font> and such Grantor
has not consented to, and is not otherwise aware of, any Person
(other than the Agent pursuant hereto) having "control" (within the
meaning of Section 9-104 of the UCC) over, or any other interest in
or claim against, any such deposit account or any money or other
property deposited therein.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
4.10.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline">Commercial Tort
Claims</font></font><font style="font-family: Times New Roman; font-size: 13px">. Such Grantor has
no commercial tort claims other than (a) those listed on
<font style="text-decoration: underline">Schedule 4.10</font>, or
(b) as to which the actions required by Section 5.11 have been
taken.</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
4.11.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline">Letters of
Credit</font></font><font style="font-family: Times New Roman; font-size: 13px">. Such Grantor is
not a beneficiary or assignee under any letter of credit, other
than the letters of credit described in <font style="text-decoration: underline">Schedule&#xA0;4.11</font>, and legal,
binding and enforceable consents, in substantially the form of the
Consent to Assignment of Letter of Credit Rights, are in effect for
each letter of credit in which such Grantor has rights. Such
Grantor has instructed all issuers and nominated Persons under
letters of credit in which such Grantor is the beneficiary or
assignee to make all payments thereunder to a Collateral
Account.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
4.12.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline">Independent Investigation;
Etc</font></font><font style="font-family: Times New Roman; font-size: 13px">. Such Grantor has,
independently and without reliance upon any Secured Party and based
on such documents and information as it has deemed appropriate,
made its own credit analysis and decision to enter into this
Agreement. Such Grantor will benefit directly and indirectly from
its execution and delivery of this Agreement and from the making of
the Loans by the Noteholders under the Note Purchase Agreement.
There are no conditions precedent to the effectiveness of this
Agreement that have not been satisfied or waived.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
4.13.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline">Assigned
Agreements.</font></font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;No
consent of any party (other than such Grantor) to any Assigned
Agreement is required, or purports to be required, in connection
with the execution, delivery and performance of this
Agreement.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">12</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Each
Assigned Agreement has been duly authorized, executed and delivered
by each of the parties thereto, is in full force and effect, and
constitutes a valid and legally enforceable obligation of the
parties thereto, subject to the effects of bankruptcy, insolvency,
reorganization, moratorium and other similar laws relating to or
affecting creditors&#x2019; rights generally and general equitable
principles (whether considered in a proceeding in equity or at
law).</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(c)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;No
consent or authorization of, filing with or other act by or in
respect of any Governmental Authority is required in connection
with the execution, delivery, performance, validity or
enforceability of any of the Assigned Agreements by any party
thereto other than those which have been duly obtained, made or
performed, are in full force and effect and do not subject the
scope of any such Assigned Agreement to any limitation, either
specific or general in nature.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(d)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Neither
such Grantor nor (to the best of such Grantor&#x2019;s knowledge)
any of the other parties to the Assigned Agreements is in default
in the performance or observance of any of the terms thereof in any
manner that, in the aggregate, could reasonably be expected to have
a Material Adverse Effect.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(e)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;The
right, title and interest of such Grantor in, to and under the
Assigned Agreements are not subject to any defenses, offsets,
recoupments, counterclaims or claims that, in the aggregate, could
reasonably be expected to have a Material Adverse
Effect.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(f)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Such
Grantor has delivered to the Agent a complete and correct copy of
each Assigned Agreement, including all amendments, supplements and
other modifications thereto.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(g)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;No
amount payable to such Grantor under or in connection with any
Assigned Agreement is evidenced by any instrument or chattel paper
that has not been delivered to the Agent.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(h)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;None
of the parties to any Assigned Agreement is a Governmental
Authority.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(i)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;If
requested by the Agent, each party to the Assigned Agreements
(other than a Grantor) has executed and delivered to the Agent a
consent in substantially the form of <font style="text-decoration: underline">Annex 4</font> hereto, to the
assignment of the Assigned Agreements to the Agent, for the benefit
of the Secured Parties, pursuant to this Agreement.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
ARTICLE V</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
COVENANTS</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Each
Grantor covenants and agrees with the Secured Parties that, from
and after the date of this Agreement until the Guaranteed
Obligations shall have been paid and performed in
full:</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
5.01.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0; <font style="text-decoration: underline">Delivery and Control of Instruments,
Investment Property, Negotiable Documents, Chattel Paper,
Letter-of-Credit Rights, and Transferable
Records.</font></font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;If
any of the Collateral is or shall become evidenced by any
instrument, certificated security, negotiable document or tangible
chattel paper, such Grantor shall immediately deliver such
instrument, certificated security, negotiable document or tangible
chattel paper to the Agent, duly indorsed in a manner satisfactory
to the Agent, to be held as Collateral pursuant to this
Agreement.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">13</font></div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;If
any of the Collateral is or shall become electronic chattel paper,
such Grantor shall ensure that (i) a single authoritative copy
exists which is unique, identifiable, and unalterable (except as
provided in clauses (iii), (iv) and (v) of this Section 5.01(b)),
(ii) such authoritative copy identifies the Agent as the assignee
and is communicated to and maintained by the Agent or its designee,
(iii) copies or revisions that add or change the assignee of the
authoritative copy can only be made with the participation of the
Agent, (iv) each copy of the authoritative copy and any copy of a
copy is readily identifiable as a copy and not the authoritative
copy and (v) any revision of the authoritative copy is readily
identifiable as an authorized or unauthorized
revision.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(c)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;If
any of the Collateral is or shall become evidenced or represented
by an uncertificated security, such Grantor shall immediately cause
the Issuer thereof either (i) to register the Agent as the
registered owner of such uncertificated security, upon original
issue or registration of transfer or (ii) to agree in writing with
such Grantor and the Agent that such Issuer will comply with
instructions with respect to such uncertificated security
originated by the Agent without further consent of such Grantor,
such agreement to be in form and substance satisfactory to the
Agent (each such agreement being an "<font style="text-decoration: underline">Uncertificated Security Control
Agreement</font>").</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(d)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;With
respect to any Investment Property of such Grantor consisting of a
securities account or security entitlement, such Grantor shall, at
the request of the Agent, enter into, and shall cause the
securities intermediary maintaining such securities account or
security entitlement to enter into, a control agreement with the
Agent in form and substance satisfactory to the Agent pursuant to
which such securities intermediary shall agree to comply with the
entitlement orders and other instructions originated by the Agent
without further consent of such Grantor (each such agreement being
a "<font style="text-decoration: underline">Securities Account
Control Agreement</font>").</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(e)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;With
respect to any Investment Property of such Grantor consisting of a
commodity account or commodity contract, such Grantor shall, at the
request of the Agent, enter into, and shall cause the commodity
intermediary maintaining such commodity account or commodity
contract to enter into, a control agreement with the Agent in form
and substance satisfactory to the Agent, pursuant to which such
commodity intermediary shall agree to comply with the Agent&#x2019;s
instructions to apply any value distributed on account of any
commodity contract carried in the commodity account or other
directions concerning the commodity account originated by the
Agent, in each case without further consent by such Grantor (each
such agreement being a "<font style="text-decoration: underline">Commodity Account Control
Agreement</font>").</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(f)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;With
respect to each deposit account of such Grantor, such Grantor
shall, at the request of the Agent, enter into, and shall cause the
bank maintaining such deposit account to enter into, a control
agreement with the Agent in form and substance satisfactory to the
Agent pursuant to which such bank shall agree to comply with
instructions originated by the Agent directing the disposition of
funds in such deposit account without further consent by such
Grantor (such agreement being a "<font style="text-decoration: underline">Deposit Account Control
Agreement</font>").</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(g)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;With
respect to any letter-of-credit rights of such Grantor, such
Grantor shall, at the request of the Agent, obtain the consent of
the issuer thereof and any nominated Person thereon to the
assignment of the proceeds of the related letter of credit to the
Agent in accordance with Section 5-114(c) of the UCC, such consent
to be in form and substance satisfactory to the Agent (each such
consent being a "<font style="text-decoration: underline">Consent
to Assignment of Letter of Credit Rights</font>").</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(h)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Each
Grantor shall, at the request of the Agent, enter into Control
Agreements with respect to any securities accounts, security
entitlements, commodity contracts, commodity accounts, and deposit
accounts that are created or acquired after the Closing Date, as of
or prior to the deposit or transfer of any such security
entitlements, commodity contracts or funds into such securities
accounts, commodity accounts or deposit accounts.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">14</font></div>
</div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(i)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Such
Grantor will maintain all transferable records (as such term is
defined in the UETA) so that the Agent has control of the
transferable records in the manner specified in Section&#xA0;16 of
the UETA.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(j)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
&#xA0;&#xA0; &#xA0; Upon the request of the Agent, such Grantor
will notify each Issuer of Investment Property that such Investment
Property is subject to the security interest granted
hereunder.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;&#xA0;<br></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(k)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
&#xA0;&#xA0; &#xA0; In addition to and not in lieu of the
foregoing, if any Issuer of any Investment Property is organized
under the law of, or has its chief executive office in, a
jurisdiction outside of the United States, each Grantor shall take
such additional actions, including, without limitation, causing the
Issuer to register the pledge on its books and records, as may be
necessary or as may be requested by the Agent, under the laws of
such jurisdiction to ensure the validity, perfection and priority
of the security interest of the Agent.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
5.02.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0; &#xA0;&#xA0; &#xA0;
<font style="text-decoration: underline">Maintenance of
Insurance.</font></font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
&#xA0;&#xA0; &#xA0; Each Grantor will maintain (or cause to be
maintained), with financially sound and reputable companies,
insurance policies (i) insuring its Inventory and Equipment against
loss by fire, explosion, theft and such other casualties as may be
reasonably satisfactory to the Agent and (ii) insuring such
Grantor, the Agent and the other Secured Parties against liability
for personal injury and property damage relating to such Inventory
and Equipment, such policies to be in such form and amounts and
having such coverage as may be reasonably satisfactory to the
Agent. Such Grantor shall, if so requested by the Agent, deliver to
the Agent original or duplicate copies of such policies of
insurance.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
&#xA0;&#xA0; &#xA0;&#xA0;&#xA0; Each such policy of insurance shall
(i) provide that no cancellation, lapse, expiration, reduction in
amount or change in coverage thereof shall be effective until at
least 30 days after receipt by the Agent of written notice thereof;
provided that the foregoing shall be satisfied if such Grantor uses
commercially reasonable efforts to obtain such terms, (ii) in the
case of liability insurance, provide for all losses to be paid to
such Grantor and the Secured Parties as their interests may appear,
and (iii) be reasonably satisfactory in all other respects to the
Agent.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(c)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
&#xA0;&#xA0; &#xA0;&#xA0;&#xA0;&#xA0; If an Event of Default shall
have occurred and be continuing, the Agent shall have the sole
right, in the name of the Grantor or in its own name, to file
claims under any insurance policies, to receive, receipt and give
acquittance for any payments that may be payable thereunder, and to
execute any and all endorsements, receipts, releases, assignments,
reassignments or other documents may be necessary to effect the
collection, compromise or settlement of any claims under any such
insurance policies.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
5.03.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0; &#xA0;&#xA0;
&#xA0;&#xA0;&#xA0; <font style="text-decoration: underline">Payment
of Indebtedness</font></font><font style="font-family: Times New Roman; font-size: 13px">. Each Grantor will
pay and discharge or otherwise satisfy at or before maturity or
before they become delinquent, as the case may be, all taxes,
assessments and governmental charges or levies imposed upon the
Collateral or in respect of income or profits therefrom, as well as
all claims of any kind (including, without limitation, claims for
labor, materials and supplies) against or with respect to the
Collateral, except that no such charge need be paid if the amount
or validity thereof is currently being contested in good faith by
appropriate proceedings, reserves in conformity with GAAP with
respect thereto have been provided on the books of such Grantor and
such proceedings could not reasonably be expected to result in the
sale, forfeiture or loss of any portion of the Collateral or any
interest therein.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
5.04.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0; &#xA0;&#xA0;
&#xA0;&#xA0; <font style="text-decoration: underline">Maintenance
of Perfected Security Interest; Limitation on Dispositions; Further
Documentation; Inspection; Etc.</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">15</font></div>
</div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Such
Grantor shall, at its sole cost and expense, maintain the security
interest created under this Agreement as a perfected security
interest having at least the priority described in <font style="text-decoration: underline">Section 4.02</font> and shall defend
such security interest against the claims and demands of all
Persons whomsoever.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Such
Grantor shall not sell, assign, transfer, lease, or otherwise
dispose of, or abandon or permit a lapse of, or grant or permit any
Lien on, any of the Collateral or any interest therein, except as
expressly permitted by the Note Purchase Agreement.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(c)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Such
Grantor will furnish to the Agent from time to time statements and
schedules further identifying and describing the Collateral and
other assets and property of such Grantor and such other reports in
connection therewith as the Agent may reasonably request, all in
such detail as the Agent may specify.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(d)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;At
any time and from time to time, upon the written request of the
Agent, and at the sole cost and expense of such Grantor, such
Grantor will promptly and duly authorize, execute and deliver, and
have recorded, all further instruments and documents and take all
further actions as may be necessary or desirable or that the Agent
may request for the purpose of perfecting or protecting the
assignments and security interests granted hereunder and obtaining
or preserving the full benefits of this Agreement and of the rights
and powers herein granted, including, without limitation,
(i)&#xA0;executing and filing any financing or continuation
statements under the Uniform Commercial Code (or other similar
laws) in effect in any jurisdiction with respect to the security
interests created hereby, (ii) delivering and pledging to the Agent
for the benefit of the Secured Parties certificates representing
the Pledged Equity Interests that constitute certificated
securities, accompanied by undated stock powers executed in blank,
(iii)&#xA0;complying with any Requirement of Law (including the
Federal Assignment of Claims Act) as to any Collateral if such
compliance is deemed necessary or advisable by the Agent for the
attachment, perfection or priority of, or the ability of the Agent
to enforce, the Agent&#x2019;s security interest in such Collateral,
(iv)&#xA0;obtaining consents and approvals from any Governmental
Authority or other Person, including without limitation any consent
of any licensor, lessor or other Person obligated on Collateral,
and (v)&#xA0;obtaining waivers from mortgagees, lessors, landlords,
warehousemen, and repairmen in form and substance satisfactory to
the Agent.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(e)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Such
Grantor shall permit the Agent, or its designee, to inspect and
audit the Collateral at any reasonable time or times, wherever
located; provided, however, that unless an Event of Default has
occurred and is continuing, Agent shall provide at least three (3)
business days&#x2019; notice. Such Grantor shall reimburse the Agent
on demand for all reasonable and necessary costs and expenses
incurred by the Agent in connection with inspections and audits of
Collateral; provided, however, that Grantor shall not be obligated
to reimburse the Agent for such costs and expenses for more than
two (2) such inspections and audits during each fiscal year unless
an Event of Default has occurred and is continuing.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(f)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Such
Grantor shall not take or permit any action that could impair the
Agent&#x2019;s rights in the Collateral or the perfection or
priority of the security interests created hereunder.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
5.05.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline">Changes in Locations;
Name; Jurisdiction of Incorporation; Etc</font></font><font style="font-family: Times New Roman; font-size: 13px">. Such Grantor will
not, except upon thirty (30) days&#x2019; prior written notice to
the Agent and (a) taking all action required by the Agent to
maintain the validity, perfection and priority of the security
interests provided for herein and (b) if applicable, delivery to
the Agent of a written supplement to <font style="text-decoration: underline">Schedule 4.03</font> showing any
additional location at which Inventory or Equipment shall be kept
(which supplement may be attached to <font style="text-decoration: underline">Schedule 4.03</font> by the
Agent):</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">16</font></div>
</div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(i)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;permit
any of the Inventory or Equipment to be kept at a location other
than those listed on <font style="text-decoration: underline">Schedule 4.04</font>; or</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(ii)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;change
its name, type of organization, jurisdiction of organization,
organizational identification number, federal taxpayer
identification number, or the location of its chief executive
office or sole place of business from that referred to in
<font style="text-decoration: underline">Schedule
4.03</font>.</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
5.06.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline">Notices</font></font><font style="font-family: Times New Roman; font-size: 13px">. Such Grantor will
advise the Agent immediately, in reasonable detail,
of:</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;any
Lien (other than security interests created hereby or Liens
permitted under the Note Purchase Agreement) on any of the
Collateral which would adversely affect the ability of the Agent to
exercise any of its remedies hereunder; and</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;the
occurrence of any other event which could reasonably be expected to
have a material adverse effect on the aggregate value of the
Collateral or on the security interests created
hereunder.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
5.07.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline">Investment
Property.</font></font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Without
the prior written consent of the Agent, such Grantor will not (i)
vote to enable, or take any other action to permit, any Issuer to
issue any Capital Stock of any nature or to issue any other
securities, obligations, rights, or other interests convertible
into or granting the right to purchase or exchange for any Capital
Stock of any nature of any Issuer, (ii) sell, assign, transfer,
exchange, or otherwise dispose of, or grant any option with respect
to, any of the Investment Property or Proceeds thereof (except, in
each case, pursuant to a transaction expressly permitted by the
Note Purchase Agreement), (iii) create, incur or permit to exist
any Lien or option in favor of, or any claim of any Person with
respect to, any of the Investment Property or Proceeds thereof, or
any interest therein, except for the security interests created by
this Agreement or (iv) enter into any agreement or undertaking
restricting the right or ability of such Grantor or the Agent to
sell, assign or transfer any of the Investment Property or Proceeds
thereof.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;In
the case of each Grantor which is an Issuer, such Issuer agrees
that (i) it will be bound by the terms of this Agreement relating
to the Investment Property issued by it and will comply with such
terms insofar as such terms are applicable to it, (ii) it will
notify the Agent promptly in writing of the occurrence of any of
the events described in clause (A), (B) or (C) of Section
6.03(a)(ii) with respect to the Investment Property issued by it
and (iii) the terms of Sections 6.03(d) and 6.06 shall apply to it,
<font style="font-style: italic">mutatis mutandis</font>, with
respect to all actions that may be required of it pursuant to
Section 6.03(d) or 6.06 with respect to the Investment Property
issued by it. In addition, each Grantor which is either an Issuer
or an owner of any Investment Property consents to the grant by
each other Grantor of the security interest hereunder in favor of
the Agent and to the transfer of any Investment Property to the
Agent or its nominee upon the occurrence or during the continuation
of an Event of Default and to the substitution of the Agent or its
nominee as a partner, member or shareholder of the Issuer of the
related Investment Property.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(c)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Such
Grantor shall comply with all of its obligations under each Organic
Document governing or relating to Pledged Securities and shall
enforce all of its rights with respect to any Investment
Property.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">17</font></div>
</div>
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
5.08.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline">Inventory and
Equipment.</font></font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;In
producing its Inventory, such Grantor will comply with all
Requirements of Law, including, without limitation, the Fair Labor
Standards Act. Such Grantor shall maintain all of its Inventory in
good saleable and usable condition.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Such
Grantor will cause the Equipment of such Grantor to be maintained
and preserved in the same condition, repair and working order as
when new, ordinary wear and tear excepted, and in accordance with
any manufacturer&#x2019;s manual relating thereto, and will
forthwith, or in the case of any loss or damage to any of such
Equipment as soon as practicable after the occurrence thereof, make
or cause to be made all repairs, replacements and other
improvements in connection therewith that are necessary or
desirable to such end.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(c)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Such
Grantor shall not deliver any document evidencing any Equipment or
Inventory to any Person other than the issuer of such document to
claim the goods evidenced thereby or the Agent.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(d)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;If
any Equipment or Inventory having a value in excess of $25,000
individually or $100,000 in the aggregate is in the possession or
control of a third party, including, without limitation, any
warehouseman, bailee or agent, such Grantor shall immediately
notify the Agent thereof and shall join with the Agent in promptly
notifying the third party of the Agent&#x2019;s security interest
and obtaining a written acknowledgment from the third party that it
is holding the Equipment or Inventory for the benefit, and subject
to the security interest, of the Agent. Such acknowledgment must be
satisfactory in form and substance to the Agent.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(e)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;With
respect to any item of Equipment that is covered by a certificate
of title or ownership under a statute of any jurisdiction under the
law of which indication of a security interest on such certificate
is required as a condition of perfection thereof, such Grantor
shall, at the request of the Agent, promptly (i) provide to the
Agent information with respect to any such Equipment, (ii) execute
and file with the registrar of motor vehicles or other appropriate
authority in such jurisdiction an application or other document
requesting the notation or other indication of the security
interest created hereunder on each such certificate of title, and
(iii) deliver to the Agent copies of all such applications or other
documents so filed and copies of all such certificates of title
issued indicating the security interests created hereunder in the
items of Equipment covered thereby.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
5.09.&#xA0;&#xA0;&#xA0;&#xA0; &#xA0; &#xA0; &#xA0;&#xA0;
<font style="text-decoration: underline">Receivables.</font></font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Other
than in the ordinary course of business consistent with its past
practice, such Grantor will not (i) grant any extension of the time
of payment of any Receivable, (ii) adjust, compromise or settle any
Receivable for less than the full amount thereof, (iii) release,
wholly or partially, any Person liable for the payment of any
Receivable, (iv) allow any credit or discount whatsoever on any
Receivable or (v) amend, supplement or modify any Receivable in any
manner that could adversely affect the value thereof.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Such
Grantor shall keep and maintain at its own cost and expense
satisfactory and complete records of the Receivables, including,
but not limited to, the originals of all documentation with respect
to all Receivables and records of all payments received and all
credits granted on the Receivables, all merchandise returned and
all other dealings therewith.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(c)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Such
Grantor shall perform in all material respects all of its
obligations with respect to the Receivables.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">18</font></div>
</div>
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(d)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Such
Grantor shall use its best efforts to keep in full force and effect
any supporting obligation relating to any Receivable.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(e)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Such
Grantor will deliver to the Agent a copy of each demand, notice or
document received by it that questions or calls into doubt the
validity or enforceability of more than 5% of the aggregate amount
of the then outstanding Receivables.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
5.10.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline">Intellectual
Property.</font></font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
&#xA0;&#xA0; With respect to each item of its Intellectual
Property, each Grantor agrees to take, at its expense, all
necessary steps, including, without limitation, in the United
States Patent and Trademark Office, the United States Copyright
Office and any other Governmental Authority, to (i) maintain the
validity and enforceability of such Intellectual Property and
maintain such Intellectual Property in full force and effect, and
(ii) pursue the registration and maintenance of each patent,
trademark, or copyright registration or application, now or
hereafter included in such Intellectual Property of such Grantor,
including, without limitation, the payment of required fees and
taxes, the filing of responses to office actions issued by the
United States Patent and Trademark Office, the United States
Copyright Office or other Governmental Authorities, the filing of
applications for renewal or extension, the filing of affidavits
under Sections 8 and 15 of the United States Trademark Act, the
filing of divisional, continuation, continuation-in-part, reissue
and renewal applications or extensions, the payment of maintenance
fees and the participation in interference, reexamination,
opposition, cancellation, infringement and misappropriation
proceedings. No Grantor shall, without the written consent of the
Agent, discontinue use of or otherwise abandon any Intellectual
Property, or abandon any right to file an application for patent,
trademark, or copyright, unless such Grantor shall have previously
determined that such use or the pursuit or maintenance of such
Intellectual Property is no longer desirable in the conduct of such
Grantor&#x2019;s business and that the loss thereof would not be
reasonably likely to have a Material Adverse Effect, in which case,
such Grantor will give prompt notice of any such abandonment to the
Agent.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
&#xA0; &#xA0;&#xA0; Each Grantor agrees promptly to notify the
Agent if such Grantor becomes aware (i) that any item of the
Intellectual Property may have become abandoned, placed in the
public domain, invalid or unenforceable, or of any adverse
determination or development regarding such Grantor&#x2019;s
ownership of any of the Intellectual Property or its right to
register the same or to keep and maintain and enforce the same, or
(ii) of any adverse determination or the institution of any
proceeding (including, without limitation, the institution of any
proceeding in the United States Patent and Trademark Office or any
court) regarding any item of the Intellectual
Property.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(c)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
&#xA0; &#xA0;&#xA0; In the event that any Grantor becomes aware
that any item of the Intellectual Property is being infringed or
misappropriated by a third party, such Grantor shall promptly
notify the Agent and shall take such actions, at its expense, as
such Grantor or the Agent deems reasonable and appropriate under
the circumstances to protect or enforce such Intellectual Property,
including, without limitation, suing for infringement or
misappropriation and for an injunction against such infringement or
misappropriation.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(d)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
&#xA0; &#xA0;&#xA0;&#xA0;&#xA0; Each Grantor shall use proper
statutory notice in connection with its use of each item of its
Intellectual Property. No Grantor shall do or permit any act or
knowingly omit to do any act whereby any of its Intellectual
Property may lapse or become invalid or unenforceable or placed in
the public domain.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(e)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
&#xA0; &#xA0;&#xA0;&#xA0; Each Grantor shall take all steps which
it or the Agent deems reasonable and appropriate under the
circumstances to preserve and protect each item of its Intellectual
Property, including, without limitation, maintaining the quality of
any and all products or services used or provided in connection
with any of the Trademarks, consistent with the quality of the
products and services as of the date hereof, and taking all steps
necessary to ensure that all licensed users of any of the
Trademarks use such consistent standards of quality.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">19</font></div>
</div>
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(f)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;With
respect to its Intellectual Property, to the extent requested by
the Agent on the date hereof or, if applicable, at such later date
on which a Grantor becomes party hereto, such Grantor agrees to
execute and deliver to the Agent an agreement, in substantially the
form set forth in <font style="text-decoration: underline">Annex
2</font> hereto or otherwise in form and substance satisfactory to
the Agent (an "<font style="text-decoration: underline">Intellectual Property Security
Agreement</font>"), for recording the security interest granted
hereunder to the Agent in such Intellectual Property with the
United States Patent and Trademark Office, the United States
Copyright Office and any other domestic or foreign Governmental
Authorities requested by the Agent to perfect the security interest
hereunder in such Intellectual Property.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(g)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Such
Grantor agrees that should it obtain an ownership interest in any
new or acquired item of Intellectual Property that is not on the
date hereof listed on <font style="text-decoration: underline">Schedule 4.08</font> ("<font style="text-decoration: underline">After-Acquired Intellectual
Property</font>") (i) the provisions of this Agreement shall
automatically apply thereto, and (ii) any such After-Acquired
Intellectual Property and, in the case of Trademarks, the goodwill
symbolized thereby, shall automatically become part of the
Collateral subject to the terms and conditions of this Agreement
with respect thereto. Within thirty (30) days after the end of each
fiscal quarter of such Grantor, each Grantor shall give written
notice to the Agent identifying all After-Acquired Intellectual
Property acquired during such Fiscal Quarter, if any, and such
Grantor shall execute and deliver to the Agent with such written
notice, an Intellectual Property Security Agreement, or if such
Grantor has already executed an Intellectual Property Security
Agreement, <font style="text-decoration: underline">Annex 3</font>
hereto or otherwise in form and substance satisfactory to the Agent
(an "<font style="text-decoration: underline">IP Security Agreement
Supplement</font>"), covering such After-Acquired Intellectual
Property which Intellectual Property Security Agreement or IP
Security Agreement Supplement, as applicable, shall be recorded
with the United States Patent and Trademark Office, the United
States Copyright Office and any other Governmental Authorities as
may be requested by the Agent to evidence and perfect the security
interest hereunder in such After-Acquired Intellectual Property.
Upon the execution and delivery to the Agent of an Intellectual
Property Security Agreement or IP Security Agreement Supplement in
accordance with this Section, <font style="text-decoration: underline">Schedule&#xA0;4.08</font> shall
automatically be deemed amended to include the After-Acquired
Intellectual Property covered by such IP Security Agreement
Supplement.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(h)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Such
Grantor shall take all steps reasonably necessary to protect the
secrecy of all Trade Secrets, including, without limitation,
entering into confidentiality agreements with employees and
labeling and restricting access to secret information and
documents.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
5.11.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
&#xA0; <font style="text-decoration: underline">Commercial Tort
Claims</font></font><font style="font-family: Times New Roman; font-size: 13px">. If such Grantor
shall at any time hold or acquire an interest in any commercial
tort claim, then such Grantor shall within fifteen (15) days of
obtaining such interest sign and deliver documentation acceptable
to the Agent granting a security interest to the Agent in and to
such commercial tort claim under the terms and provisions of this
Agreement.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
5.12.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0; &#xA0; &#xA0;
<font style="text-decoration: underline">Assigned
Agreements.</font></font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="font-size: 13px">Such
Grantor shall at its expense</font>:</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 156px;">
<font style="font-family: Times New Roman; font-size: 13px">(i)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;perform
and observe all the terms and provisions of the Assigned Agreements
to be performed or observed by it, maintain Assigned Agreements to
which it is a party in full force and effect, enforce Assigned
Agreements to which it is a party in accordance with their
respective terms, and take all such action to such end as may be
from time to time reasonably requested by the Agent;
and</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">20</font></div>
</div>
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 156px;">
<font style="font-family: Times New Roman; font-size: 13px">(ii)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;furnish
to the Agent promptly upon receipt thereof copies of all notices,
requests and other documents received by such Grantor under or
pursuant to the Assigned Agreements to which it is a party, and
from time to time (A) furnish to the Agent such information and
reports regarding the Assigned Agreements and the other Collateral
of such Grantor as the Agent may reasonably request and (B) upon
reasonable request of the Agent make to each other party to any
Assigned Agreement to which it is a party such demands and requests
for information and reports or for action as such Grantor is
entitled to make thereunder.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Such
Grantor shall not, except to the extent otherwise expressly
permitted under the Note Purchase Agreement:</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 156px;">
<font style="font-family: Times New Roman; font-size: 13px">(i)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
&#xA0;&#xA0; cancel or terminate any Assigned Agreement to which it
is a party or consent to or accept any cancellation or termination
thereof;</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 156px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 156px;">
<font style="font-family: Times New Roman; font-size: 13px">(ii)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;amend,
restate, supplement or otherwise modify any such Assigned Agreement
or give any consent, waiver or approval thereunder;</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 156px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 156px;">
<font style="font-family: Times New Roman; font-size: 13px">(iii)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
waive any default under or breach of any such Assigned
Agreement;</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 156px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 156px;">
<font style="font-family: Times New Roman; font-size: 13px">(iv)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
consent to or permit or accept any prepayment of amounts to become
due under or in connection with any such Assigned Agreement, except
as expressly provided therein; or</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 108px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 156px;">
<font style="font-family: Times New Roman; font-size: 13px">(v)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;take
any other action in connection with any such Assigned Agreement
that would impair the value of the interest or rights of such
Grantor thereunder or which would impair the interest or rights of
the Agent.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
5.13.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0; &#xA0; &#xA0; &#xA0;
<font style="text-decoration: underline">Covenants in Note Purchase
Agreement</font>.</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
&#xA0;</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">In the
case of each Grantor, such Grantor shall take, or shall refrain
from taking, as the case may be, each action that is necessary to
be taken or not taken, as the case may be, so that no Default or
Event of Default is caused by the failure to take such action or to
refrain from taking such action by such Grantor or any of its
Subsidiaries.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
ARTICLE VI</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
REMEDIAL PROVISIONS</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
6.01.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0; &#xA0; &#xA0;&#xA0;
<font style="text-decoration: underline">Certain Matters Relating
to Receivables.</font></font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;The
Agent shall have the right to verify the Receivables at any time
and from time to time in any manner and through any medium that it
considers advisable, and each Grantor shall furnish all such
assistance and information as the Agent may require in connection
with such test verifications. At any time and from time to time,
upon the Agent&#x2019;s request and at the expense of the relevant
Grantor, such Grantor shall furnish to the Agent reports showing
reconciliations, aging and test verifications of, and trial
balances for, the Receivables. Each Grantor shall provide such
information as the Agent may from time to time request regarding
the Receivables, including agings and trial balances.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">21</font></div>
</div>
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;The
Agent hereby authorizes each Grantor to collect such
Grantor&#x2019;s Receivables, subject to the Agent&#x2019;s direction
and control, and the Agent may curtail or terminate said authority
at any time after the occurrence and during the continuance of an
Event of Default. If required by the Agent at any time after the
occurrence and during the continuance of an Event of Default, any
payments of Receivables, when collected by any Grantor, (i) shall
be forthwith (and, in any event, within two Business Days)
deposited by such Grantor in the exact form received, duly indorsed
by such Grantor to the Agent if required, in a Collateral Account
maintained under the sole dominion and control of the Agent,
subject to withdrawal by the Agent for the account of the Secured
Parties in accordance with this Agreement and the other Note
Purchase Documents, and (ii) until so turned over, shall be held by
such Grantor in trust for the Agent and the Secured Parties,
segregated from other funds of such Grantor. Each such deposit of
Proceeds of Receivables shall be accompanied by a report
identifying in reasonable detail the nature and source of the
payments included in the deposit.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(c)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;At
the Agent&#x2019;s request, each Grantor shall deliver to the Agent
all original and other documents evidencing, and relating to, the
agreements and transactions which gave rise to the Receivables,
including, without limitation, all original orders, invoices and
shipping receipts.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
6.02.&#xA0;&#xA0;&#xA0;&#xA0; &#xA0;&#xA0; &#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline">Communications with
Obligors; Grantors Remain Liable.</font></font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
&#xA0; &#xA0; &#xA0;&#xA0;&#xA0; The Agent in its own name or in
the name of others may at any time communicate with obligors under
the Receivables to verify with them to the Agent&#x2019;s
satisfaction the existence, amount and terms of any
Receivables.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
Upon the request of the Agent at any time after the occurrence and
during the continuance of an Event of Default, each Grantor shall
notify obligors on the Receivables and parties to the Assigned
Agreements that the Receivables and the Assigned Agreements have
been assigned to the Agent for the benefit of the Secured Parties
and that payments in respect thereof shall be made directly to the
Agent.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(c)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
&#xA0; &#xA0; Anything herein to the contrary notwithstanding, each
Grantor shall remain liable under each of the Receivables and the
Assigned Agreements to observe and perform all the conditions and
obligations to be observed and performed by it thereunder, all in
accordance with the terms of any agreement giving rise thereto.
Neither the Agent nor any other Secured Party shall have any
obligation or liability under any Receivable (or any agreement
giving rise thereto) or Assigned Agreement by reason of or arising
out of this Agreement or the receipt by the Agent or any other
Secured Party of any payment relating thereto, nor shall the Agent
or any other Secured Party be obligated in any manner to perform
any of the obligations of any Grantor under or pursuant to any
Receivable (or any agreement giving rise thereto) or Assigned
Agreement, to make any payment, to make any inquiry as to the
nature or the sufficiency of any payment received by it or as to
the sufficiency of any performance by any party thereunder, to
present or file any claim, to take any action to enforce any
performance or to collect the payment of any amounts which may have
been assigned to it or to which it may be entitled at any time or
times.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
6.03.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline">Voting Rights; Dividends;
Etc.</font></font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;So
long as no Event of Default shall have occurred and be
continuing:</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 156px;">
<font style="font-family: Times New Roman; font-size: 13px">(i)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Each
Grantor shall be entitled to exercise or refrain from exercising
any and all voting and other consensual rights pertaining to the
Investment Property of such Grantor or any part thereof for any
purpose not inconsistent with terms of this Agreement or any other
Note Purchase Document.; <font style="text-decoration: underline">provided</font>, <font style="text-decoration: underline">however</font>, that such Grantor
shall not exercise or refrain from exercising any such right, if
such action would have a material adverse effect on the value of
the Investment Property or any part thereof.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">22</font></div>
</div>
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 108px;">
<font style="font-family: Times New Roman; font-size: 13px">(ii)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Each
Grantor shall be entitled to receive and retain any and all
dividends, interest and other distributions paid in respect of the
Investment Property of such Grantor if and to the extent that the
payment thereof is not otherwise prohibited by the terms of this
Agreement or any of the other Note Purchase Documents; <font style="text-decoration: underline">provided</font>, <font style="text-decoration: underline">however</font>, that any and
all</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">(A)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;dividends,
interest and other distributions paid or payable other than in cash
in respect of, and instruments and other property received,
receivable or otherwise distributed in respect of, or in exchange
for, any Investment Property,</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">(B)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;dividends
and other distributions paid or payable in cash in respect of any
Investment Property in connection with a partial or total
liquidation or dissolution or in connection with a reduction of
capital, capital surplus or paid-in-surplus, and</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">(C)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;cash
paid, payable or otherwise distributed in respect of principal of,
or in redemption of, or in exchange for, any Investment Property
shall be, and shall be forthwith delivered to the Agent to hold as,
Collateral and shall, if received by such Grantor, be received in
trust for the benefit of the Agent and the other Secured Parties,
be segregated from the other property or funds of such Grantor, and
be forthwith delivered to the Agent as Collateral in the same form
as so received (with any necessary endorsement or
assignment).</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 108px;">
<font style="font-family: Times New Roman; font-size: 13px">(iii)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;The
Agent will execute and deliver (or cause to be executed and
delivered) to each Grantor all such proxies and other instruments
as such Grantor may reasonably request for the purpose of enabling
such Grantor to exercise the voting and other rights that it is
entitled to exercise pursuant to Section 6.03(a)(i) above and to
receive the dividends or interest payments that it is authorized to
receive and retain pursuant to Section 6.03(a)(ii)
above.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;If
an Event of Default shall have occurred and be
continuing:</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 108px;">
<font style="font-family: Times New Roman; font-size: 13px">(i)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;All
rights of each Grantor (x) to exercise or refrain from exercising
the voting and other consensual rights that it would otherwise be
entitled to exercise pursuant to Section 6.03(a)(i) shall, upon
notice to such Grantor by the Agent, cease and (y) to receive the
dividends, interest and other distributions that it would otherwise
be authorized to receive and retain pursuant to Section 6.03(a)(ii)
shall automatically cease, and all such rights shall thereupon
become vested in the Agent, which shall thereupon have the sole
right to exercise or refrain from exercising such voting and other
consensual rights and to receive and hold as Collateral such
dividends, interest and other distributions.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 108px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 108px;">
<font style="font-family: Times New Roman; font-size: 13px">(ii)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;All
dividends, interest and other distributions that are received by
any Grantor contrary to the provisions of Section 6.03(b)(i) shall
be received in trust for the benefit of the Agent and the other
Secured Parties, shall be segregated from other funds of such
Grantor and shall be forthwith paid over to the Agent as Collateral
in the same form as so received (with any necessary endorsement or
assignment).</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">23</font></div>
</div>
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(c)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
&#xA0; &#xA0; The Agent shall have the right at any time to
exchange any certificates or instruments representing any
Investment Property for certificates or instruments of smaller or
larger denominations. In order to permit the Agent to exercise the
voting and other consensual rights which it may be entitled to
exercise pursuant hereto and to receive all dividends, interest and
other distributions which it may be entitled to receive hereunder,
each Grantor shall promptly execute and deliver (or cause to be
executed and delivered) to the Agent all proxies, dividend payment
orders and other instruments as the Agent may from time to time
reasonably request and each Grantor acknowledges that the Agent may
utilize the power of attorney set forth herein.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(d)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
&#xA0;&#xA0; &#xA0; Each Grantor hereby authorizes and instructs
each Issuer of any Investment Property pledged by such Grantor
hereunder to (i) comply with any instruction received by it from
the Agent in writing that (x) states that an Event of Default or
Default has occurred and is continuing and (y) is otherwise in
accordance with the terms of this Agreement, without any other or
further instructions from such Grantor, and each Grantor agrees
that each Issuer shall be fully protected in so complying, and (ii)
unless otherwise expressly permitted hereby, pay any dividends,
distributions or other payments with respect to the Investment
Property directly to the Agent.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(e)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
&#xA0;&#xA0; &#xA0; If an Event of Default shall have occurred and
be continuing, the Agent shall be authorized to send to each
securities intermediary, commodity intermediary, bank or Issuer of
an uncertificated security that is party to a Control Agreement, a
notice that the Agent has exclusive control and dominion under such
Control Agreement (or any comparable notice permitted under such
Control Agreement).</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
6.04.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0; &#xA0;
&#xA0; <font style="text-decoration: underline">Proceeds to be
Turned Over To Agen</font></font><font style="font-family: Times New Roman; font-size: 13px">. In addition to
the rights of the Agent specified in Section 6.01 with respect to
payments of Receivables, if an Event of Default shall occur and be
continuing, all Proceeds received by any Grantor consisting of
cash, checks and other near-cash items shall be held by such
Grantor in trust for the Agent, segregated from other funds of such
Grantor, and shall, immediately upon receipt by such Grantor, be
turned over to the Agent in the exact form received by such Grantor
(duly indorsed by such Grantor to the Agent, if required). All
Proceeds received by the Agent hereunder shall be held by the Agent
in a Collateral Account and shall not constitute payment thereof
until applied as provided in Section 6.05.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
6.05.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0; &#xA0;
&#xA0; <font style="text-decoration: underline">Application of
Proceeds</font></font><font style="font-family: Times New Roman; font-size: 13px">. If an Event of
Default shall have occurred and be continuing, at any time at the
Agent&#x2019;s election, the Agent may apply all or any part of
Proceeds constituting Collateral, whether or not held in any
Collateral Account, in payment of the Guaranteed Obligations in
such order and manner as required pursuant to the Limited Guaranty
or as the Agent may elect in its sole discretion.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">24</font></div>
</div>
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
6.06.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline">Remedies</font></font><font style="font-family: Times New Roman; font-size: 13px">. If any Event of
Default shall have occurred and be continuing:</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;The
Agent, on behalf of the Secured Parties, may exercise, in addition
to all other rights and remedies granted to them in this Agreement
and in any other instrument or agreement securing, evidencing or
relating to the Guaranteed Obligations, all rights and remedies of
a secured party under the UCC (whether or not the UCC applies to
the affected Collateral) or any other applicable law or in equity.
Without limiting the generality of the foregoing, the Agent,
without demand of performance or other demand, presentment,
protest, advertisement or notice of any kind (except any notice
required by law referred to below) to or upon any Grantor or any
other Person (all and each of which demands, defenses,
advertisements and notices are hereby waived), may in such
circumstances forthwith collect, receive, appropriate and realize
upon the Collateral, or any part thereof, and/or may forthwith
sell, lease, license, assign, give an option or options to
purchase, or otherwise dispose of and deliver the Collateral or any
part thereof (or contract to do any of the foregoing), in one or
more parcels at public or private sale or sales, at any exchange,
broker&#x2019;s board or office of the Agent or any other Secured
Party or elsewhere upon such terms and conditions as it may deem
advisable and at such prices as it may deem best, for cash or on
credit or for future delivery without assumption of any credit
risk. Each Secured Party shall have the right upon any such public
sale or sales, and, to the extent permitted by law, upon any such
private sale or sales, to purchase the whole or any part of the
Collateral so sold, free of any right or equity of redemption in
any Grantor, which right or equity is hereby waived and released.
Each Grantor further agrees, at the Agent&#x2019;s request, to
assemble the Collateral and make it available to the Agent at
places which the Agent shall reasonably select, whether at such
Grantor&#x2019;s premises or elsewhere. The Agent shall have no
obligation to clean-up or otherwise prepare the Collateral for
sale. The Agent shall not be obligated to make any sale of
Collateral regardless of notice of sale having been given. The
Agent may adjourn any public or private sale from time to time by
announcement at the time and place fixed therefore, and any such
sale may, without further notice, be made at the time and place to
which it was adjourned. Each Grantor agrees that it would not be
commercially unreasonable for the Agent to dispose of the
Collateral or any portion thereof by using Internet sites that
provide for the auction of assets of the types included in the
Collateral or that have the reasonable capability of doing so, or
that match buyers and sellers of assets. Each Grantor hereby waives
any claims against the Agent arising by reason of the fact that the
price at which any Collateral may have been sold at a private sale
was less than the price which might have been obtained at a public
sale, even if the Agent accepts the first offer received and does
not offer such Collateral to more than one offeree. To the extent
permitted by applicable law, each Grantor waives all claims,
damages and demands it may acquire against the Agent or any other
Secured Party arising out of the exercise by them of any rights or
remedies hereunder. If any notice of a proposed sale or other
disposition of Collateral shall be required by law, such notice
shall be deemed reasonable and proper if given at least ten (10)
days before any public sale of Collateral or of the time after
which any private sale or other disposition of Collateral is
intended to be made.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;The
Agent may sell the Collateral without giving any warranties as to
the Collateral. The Agent may disclaim or modify any warranties of
title or the like. This procedure will not be considered to
adversely affect the commercial reasonableness of any sale of the
Collateral.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(c)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;The
Agent and its agents may enter upon and occupy any real property
owned or leased by any Grantor in order to exercise any of the
Agent&#x2019;s rights and remedies under this Agreement, without any
obligation to such Grantor in respect of such entry or
occupation.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(d)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;For
the purpose of enabling the Agent to exercise its rights and
remedies hereunder, each Grantor hereby grants to the Agent an
irrevocable, non-exclusive worldwide license (exercisable without
payment of royalty or other compensation to such Grantor) to use,
operate under, assign, license or sublicense any of the
Intellectual Property now owned or hereafter acquired by such
Grantor, and wherever the same may be located, and including in
such license reasonable access to all media in which any of the
licensed items may be recorded or stored and to all computer
programs used for the compilation or printout thereof.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(e)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;The
Agent may comply with any applicable Requirement of Law in
connection with a disposition of the Collateral or any part thereof
and such compliance will not be considered adversely to affect any
sale of the Collateral or any part thereof.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(f)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;In
the event of any sale or other disposition of any of the
Intellectual Property of any Grantor, the goodwill symbolized by
any Trademarks subject to such sale or other disposition shall be
included therein, and such Grantor shall supply to the Agent or its
designee such Grantor&#x2019;s know-how and expertise, and documents
and things relating to any Intellectual Property subject to such
sale or other disposition, and such Grantor&#x2019;s customer lists
and other records and documents relating to such Intellectual
Property and to the manufacture, distribution, advertising and sale
of products and services of such Grantor.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(g)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;The
Agent may apply the balance from any deposit account or instruct
the bank at which any deposit account is maintained to pay the
balance of any deposit account to or for the benefit of the Agent
and the other Secured Parties.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(h)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;The
Agent shall have no duty to marshal any of the
Collateral.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">25</font></div>
</div>
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
6.07.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline">Registration
Rights</font></font><font style="font-family: Times New Roman; font-size: 13px">. If the Agent
shall determine to exercise its right to sell any or all of the
Pledged Equity Interests or Pledged Debt Securities pursuant to
Section 6.06, and if in the opinion of the Agent it is necessary or
advisable to have the Pledged Equity Interests or Pledged Debt
Securities, or that portion thereof to be sold, registered under
the provisions of the Securities Act, the relevant Grantor will
cause the Issuer thereof to (i) execute and deliver, and cause the
directors and officers (or equivalent managers) of such Issuer to
execute and deliver, all such instruments and documents, and do or
cause to be done all such other acts as may be, in the opinion of
the Agent, necessary or advisable to register the Pledged Equity
Interests or Pledged Debt Securities, or that portion thereof to be
sold, under the provisions of the Securities Act, (ii) use its best
efforts to cause the registration statement relating thereto to
become effective and to remain effective for a period of one year
from the date of the first public offering of the Pledged Equity
Interests or Pledged Debt Securities, or that portion thereof to be
sold, and (iii)&#xA0;make all amendments thereto and/or to the
related prospectus which, in the opinion of the Agent, are
necessary or advisable, all in conformity with the requirements of
the Securities Act and the rules and regulations of the Securities
and Exchange Commission applicable thereto. Each Grantor agrees to
cause such Issuer to comply with the provisions of the securities
or "Blue Sky" laws of any and all jurisdictions which the Agent
shall designate and to make available to its security holders, as
soon as practicable, an earnings statement (which need not be
audited) which will satisfy the provisions of Section 11(a) of the
Securities Act.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Each
Grantor recognizes that the Agent may be unable to effect a public
sale of any or all the Pledged Equity Interests or Pledged Debt
Securities, by reason of certain prohibitions contained in the
Securities Act and applicable state securities laws or otherwise,
and may be compelled to resort to one or more private sales thereof
to a restricted group of purchasers which will be obliged to agree,
among other things, to acquire such securities for their own
account for investment and not with a view to the distribution or
resale thereof. Each Grantor acknowledges and agrees that any such
private sale may result in prices and other terms less favorable
than if such sale were a public sale and, notwithstanding such
circumstances, agrees that any such private sale shall be deemed to
have been made in a commercially reasonable manner. The Agent shall
be under no obligation to delay a sale of any of the Pledged Equity
Interests or Pledged Debt Securities for the period of time
necessary to permit the Issuer thereof to register such securities
for public sale under the Securities Act, or under applicable state
securities laws, even if such Issuer would agree to do
so.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Each
Grantor agrees to use its best efforts to do or cause to be done
all such other acts as may be necessary to make such sale or sales
of all or any portion of the Pledged Equity Interests or Pledged
Debt Securities pursuant to this Section valid and binding and in
compliance with any and all other applicable Requirements of Law.
Each Grantor further agrees that a breach of any of the covenants
contained in this Section will cause irreparable injury to the
Agent and the other Secured Parties, that the Agent and the other
Secured Parties have no adequate remedy at law in respect of such
breach and, as a consequence, that each and every covenant
contained in this Section shall be specifically enforceable against
such Grantor, and such Grantor hereby waives and agrees not to
assert any defenses against an action for specific performance of
such covenants except for a defense that no Event of Default has
occurred under the Note Purchase Agreement.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
6.08.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0; <font style="text-decoration: underline">Deficiency</font></font><font style="font-family: Times New Roman; font-size: 13px">. Each Grantor
shall remain liable for any deficiency if the proceeds of any sale
or other disposition of the Collateral are insufficient to pay in
full its Guaranteed Obligations and the fees and disbursements of
any attorneys employed by any Secured Party to collect such
deficiency.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
6.09.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline">Sales on
Credit</font></font><font style="font-family: Times New Roman; font-size: 13px">. If the Agent
sells any of the Collateral on credit, the applicable Grantor will
be credited only with cash payments actually made by the purchaser
and received by the Agent and applied to the indebtedness of the
purchaser. In the event the purchaser fails to pay for the
Collateral, the Agent may resell the Collateral and the applicable
Grantor shall be credited with the proceeds of the
sale.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">26</font></div>
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</div>
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<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
ARTICLE VII</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
THE AGENT</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
7.01.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0; &#xA0; &#xA0;
<font style="text-decoration: underline">Agent&#x2019;s Appointment
as Attorney-in-Fact; Etc.</font></font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Each
Grantor hereby irrevocably constitutes and appoints the Agent and
any officer or agent thereof, with full power of substitution, as
its true and lawful attorney-in-fact with full irrevocable power
and authority in the place and stead of such Grantor and in the
name of such Grantor or in its own name, from time to time during
the existence of an Event of Default, for the purpose of carrying
out the terms of this Agreement, to take any and all appropriate
action and to execute any and all documents and instruments which
the Agent may deem necessary or desirable to accomplish the
purposes of this Agreement, and, without limiting the generality of
the foregoing, each Grantor hereby gives the Agent the power and
right, on behalf of such Grantor, without notice to or assent by
such Grantor, to do any or all of the following:</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 156px;">
<font style="font-family: Times New Roman; font-size: 13px">(i)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;in
the name of such Grantor or its own name, or otherwise, take
possession of and indorse and collect any checks, drafts, notes,
acceptances or other instruments or chattel paper for the payment
of moneys due under any Receivable or Assigned Agreement or with
respect to any other Collateral and file any claim or take any
other action or proceeding in any court of law or equity or
otherwise deemed appropriate by the Agent for the purpose of
collecting any and all such moneys due under any Receivable or
Assigned Agreement or with respect to any other Collateral whenever
payable;</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 156px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 156px;">
<font style="font-family: Times New Roman; font-size: 13px">(ii)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;in
the case of any Intellectual Property, prepare, sign, deliver, and
file for recordation in any Intellectual Property registry any and
all agreements, instruments, documents and papers as the Agent may
request to evidence and perfect the Agent&#x2019;s security interest
in such Intellectual Property and the goodwill and general
intangibles of such Grantor relating thereto or represented
thereby;</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 156px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 156px;">
<font style="font-family: Times New Roman; font-size: 13px">(iii)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;pay
or discharge taxes and Liens levied or placed on or threatened
against the Collateral, effect any repairs or obtain any insurance
called for by the terms of this Agreement and pay all or any part
of the premiums therefore and the costs thereof;</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 156px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 156px;">
<font style="font-family: Times New Roman; font-size: 13px">(iv)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;execute,
in connection with any sale provided for in Section&#xA0;6.06 or
6.07, any endorsements, assignments or other instruments of
conveyance or transfer with respect to the Collateral;
and</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">27</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 156px;">
<font style="font-family: Times New Roman; font-size: 13px">(v)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;(1)
direct any party liable for any payment under any of the Collateral
to make payment of any and all moneys due or to become due
thereunder directly to the Agent or as the Agent shall direct; (2)
ask or demand for, collect, recover and receive payment of and
receipt for, any and all moneys, claims and other amounts due or to
become due at any time in respect of or arising out of any
Collateral; (3) sign and indorse any invoices, freight or express
bills, bills of lading, storage or warehouse receipts, drafts
against debtors, assignments, verifications, notices and other
documents in connection with any of the Collateral; (4) commence
and prosecute any suits, actions or proceedings at law or in equity
in any court of competent jurisdiction to collect the Collateral or
any portion thereof and to enforce any other right in respect of
any Collateral; (5) defend any suit, action or proceeding brought
against such Grantor with respect to any Collateral; (6) settle,
compromise or adjust any such suit, action or proceeding and, in
connection therewith, give such discharges or releases as the Agent
may deem appropriate; (7) assign any Intellectual Property (along
with the goodwill of the business to which any such Intellectual
Property pertains), throughout the world for such term or terms, on
such conditions, and in such manner, as the Agent shall in its sole
discretion determine; (8) exercise any and all rights, powers,
privileges and remedies of such Grantor under or with respect to
the Assigned Agreements or any other Collateral (including all
rights of performance, termination, and enforcement); (9) operate,
maintain, and repair the Collateral; (10)&#xA0;receive, open and
dispose of any and all mail addressed to any Grantor and notify
postal authorities to change the address for delivery thereof to
such address as the Agent may designate; and (11) generally, sell,
transfer, pledge and make any agreement with respect to or
otherwise deal with any of the Collateral as fully and completely
as though the Agent were the absolute owner thereof for all
purposes, and do, at the Agent&#x2019;s option and such
Grantor&#x2019;s expense, at any time, or from time to time, all
acts and things which the Agent deems necessary to protect,
preserve or realize upon the Collateral and the Agent&#x2019;s
security interests therein and to effect the intent of this
Agreement, all as fully and effectively as such Grantor might
do.</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Anything in this
Section 7.01(a) to the contrary notwithstanding, the Agent agrees
that it will not exercise any rights under the power of attorney
provided for in this Section 7.01(a) unless an Event of Default
shall have occurred and be continuing.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;If
any Grantor fails to perform or comply with any of its agreements
contained herein or in any other Note Purchase Document, the Agent
may, but without any obligation so to do, perform or comply, or
otherwise cause performance or compliance, with such
agreement.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(c)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;The
expenses of the Agent incurred in connection with actions
undertaken as provided in this Section 7.01, together with interest
thereon at a rate per annum equal to the Default Rate (which rate
shall not exceed the maximum non-usurious rate permitted by
applicable law), from the date of payment by the Agent to the date
reimbursed by the relevant Grantor, shall be payable on demand by
such Grantor to the Agent.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(d)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Each
Grantor hereby ratifies all that said attorneys shall lawfully do
or cause to be done by virtue hereof. All powers, authorizations
and agencies contained in this Agreement are coupled with an
interest and are irrevocable until this Agreement is terminated and
the security interests created hereby are released.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
7.02.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline">Duty of
Agent</font></font><font style="font-family: Times New Roman; font-size: 13px">. The Agent&#x2019;s
sole duty with respect to the custody, safekeeping and physical
preservation of the Collateral in its possession (if any), under
Section 9-207 of the UCC or otherwise, shall be to deal with such
Collateral in a manner substantially similar to that which the
Agent deals with similar property for its own account. Neither the
Agent, any other Secured Party nor any of their respective
officers, directors, partners, employees, agents, advisors,
attorneys, attorneys-in-fact or affiliates shall be liable for
failure to demand, collect or realize upon any of the Collateral or
for any delay in doing so or shall be under any obligation to sell
or otherwise dispose of any Collateral upon the request of any
Grantor or any other Person or to take any other action whatsoever
with regard to the Collateral or any part thereof. The powers
conferred on the Agent pursuant to this Agreement are solely to
protect the Secured Parties&#x2019; interests in the Collateral and
shall not impose any duty upon the Agent to exercise any such
powers. The Agent shall be accountable only for amounts that it
actually receives as a result of the exercise of such powers, and
neither the Agent nor any of its officers, directors, employees,
agents, advisors, attorneys, attorneys-in-fact or affiliates shall
be responsible to any Grantor for any act or failure to act
hereunder, except for its or their own gross negligence or willful
misconduct.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
7.03.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline">Financing
Statements</font></font><font style="font-family: Times New Roman; font-size: 13px">. Each Grantor
hereby authorizes the Agent to file or record financing statements,
continuation statements, and assignments and amendments thereto,
and other filing or recording documents or instruments with respect
to the Collateral without the signature of such Grantor in such
form and in such offices as the Agent determines appropriate to
perfect or maintain the perfection of the security interests of the
Agent under this Agreement. Each Grantor agrees that such financing
statements may describe the Collateral in the same manner as
described in the Security Documents or as all assets or all
personal property whether now owned or hereafter acquired and
wherever located (or use words of similar effect) of such Grantor,
or contain such other description as the Agent, in its sole
judgment, determines is necessary or advisable, including any real
property or fixtures description. Each Grantor hereby ratifies each
such financing statement and any and all other financing statements
filed prior to the date hereof by the Agent.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
7.04.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline">Authority of
Agent</font></font><font style="font-family: Times New Roman; font-size: 13px">. Each Grantor
acknowledges that the rights and responsibilities of the Agent
under this Agreement with respect to any action taken by the Agent
or the exercise or non-exercise by the Agent of any option, voting
right, request, judgment or other right or remedy provided for
herein or resulting or arising out of this Agreement shall, as
between the Agent and the other Secured Parties, be governed by the
Note Purchase Agreement and by such other agreements with respect
thereto as may exist from time to time among them, but, as between
the Agent and the Grantors, the Agent shall be conclusively
presumed to be acting as agent for the Secured Parties with full
and valid authority so to act or refrain from acting, and no
Grantor shall be under any obligation, or entitlement, to make any
inquiry respecting such authority.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
ARTICLE VIII</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
MISCELLANEOUS</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
8.01.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
&#xA0;&#xA0; <font style="text-decoration: underline">Amendments in
Writing</font></font><font style="font-family: Times New Roman; font-size: 13px">. None of the terms
or provisions of this Agreement may be waived, amended,
supplemented or otherwise modified except pursuant to a written
instrument signed by the Agent and each Grantor.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
8.02.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0; &#xA0;
&#xA0;&#xA0;&#xA0; <font style="text-decoration: underline">Notices</font></font><font style="font-family: Times New Roman; font-size: 13px">. All notices,
requests and demands and other communications to or upon the Agent
or any Grantor hereunder shall be effected in the manner provided
for in Section 8.2 of the Note Purchase Agreement.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
8.03.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline">Security Interest
Absolute</font></font><font style="font-family: Times New Roman; font-size: 13px">. All rights of the
Agent and each other Secured Party hereunder, each grant of a
security interest in the Collateral and all obligations of each
Grantor hereunder shall be absolute and unconditional irrespective
of (a) any lack of validity or enforceability of the Note Purchase
Agreement, the Limited Guaranty or any other Note Purchase
Document, any agreement with respect to any of the Guaranteed
Obligations or any other agreement or instrument relating to any of
the foregoing, (b) any change in the time, manner or place of
payment of, or in any other term of, all or any of the Guaranteed
Obligations, or any other amendment or waiver of or any consent to
any departure from the Note Purchase Agreement, the Limited
Guaranty or any other Note Purchase Document or any other agreement
or instrument, (c) any exchange, release or non-perfection of any
Lien on other collateral, or any release or amendment or waiver of
or consent under or departure from any guarantee, securing or
guaranteeing all or any of the Guaranteed Obligations, or (d) any
other circumstance that might otherwise constitute a defense
available to, or a discharge of, any Grantor in respect of the
Guaranteed Obligations or this Agreement.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
8.04.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline">No Waiver by Course of
Conduct; Cumulative Remedies</font></font><font style="font-family: Times New Roman; font-size: 13px">. Neither the Agent
nor any other Secured Party shall by any act (except by a written
instrument pursuant to Section 8.01), delay, indulgence, omission
or otherwise be deemed to have waived any right or remedy hereunder
or to have acquiesced in any Default or Event of Default. No
failure to exercise, nor any delay in exercising, on the part of
the Agent or any other Secured Party, any right, power or privilege
hereunder shall operate as a waiver thereof. No single or partial
exercise of any right, power or privilege hereunder shall preclude
any other or further exercise thereof or the exercise of any other
right, power or privilege. A waiver by the Agent or any other
Secured Party of any right or remedy hereunder on any one occasion
shall not be construed as a bar to any right or remedy which the
Agent or such other Secured Party would otherwise have on any
future occasion. The rights and remedies herein provided are
cumulative, may be exercised singly or concurrently and are not
exclusive of any other rights or remedies provided by
law.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">29</font></div>
</div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
8.05.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline">Indemnity and
Expenses.</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Each
Grantor agrees to indemnify, defend and save and hold harmless each
Secured Party and each of their Affiliates and their respective
officers, directors, employees, agents and advisors (each, an
"<font style="text-decoration: underline">Indemnified
Party</font>") from and against, and shall pay on demand, any and
all claims, damages, losses, liabilities and expenses (including,
without limitation, reasonable fees and expenses of counsel) that
may be incurred by or asserted or awarded against any Indemnified
Party, in each case arising out of or in connection with or
resulting from this Agreement (including, without limitation,
enforcement of this Agreement), except to the extent such claim,
damage, loss, liability or expense is found in a final,
non-appealable judgment by a court of competent jurisdiction to
have resulted from such Indemnified Party&#x2019;s gross negligence
or willful misconduct.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Each
Grantor will upon demand pay to the Agent the amount of any and all
costs and expenses, including, without limitation, the reasonable
fees and expenses of its counsel and of any experts and agents,
that the Agent may incur in connection with (i) the custody,
preservation, use or operation of, or the sale of, collection from
or other realization upon, any of the Collateral of such Grantor,
(ii) the exercise or enforcement of any of the rights of the Agent
or the other Secured Parties hereunder or (iii) the failure by such
Grantor to perform or observe any of the provisions
hereof.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(c)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;The
agreements in this Section 8.05 shall survive repayment of the
Guaranteed Obligations and all other amounts payable under the Note
Purchase Agreement, the Limited Guaranty and the other Note
Purchase Documents.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
8.06.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline">Successors and
Assigns</font></font><font style="font-family: Times New Roman; font-size: 13px">. This Agreement
shall be binding upon the successors and assigns of each Grantor
and shall inure to the benefit of the Agent and the other Secured
Parties and their successors and assigns; <font style="text-decoration: underline">provided</font> that no Grantor may
assign, transfer or delegate any of its rights or obligations under
this Agreement without the prior written consent of the
Agent.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
8.07.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline">Set-Off</font></font><font style="font-family: Times New Roman; font-size: 13px">. Each Grantor
hereby irrevocably authorizes each Secured Party at any time and
from time to time while an Event of Default shall have occurred and
be continuing, without notice to such Grantor or any other Grantor,
any such notice being expressly waived by each Grantor, to set-off
and appropriate and apply any and all deposits (general or special,
time or demand, provisional or final), in any currency, and any
other credits, indebtedness or claims, in any currency, in each
case whether direct or indirect, absolute or contingent, matured or
unmatured, at any time held or owing by such Secured Party to or
for the credit or the account of such Grantor, or any part thereof
in such amounts as such Secured Party may elect, against and on
account of the obligations and liabilities of such Grantor to such
Secured Party hereunder and claims of every nature and description
of such Secured Party against such Grantor, in any currency,
whether arising hereunder, under the Note Purchase Agreement, any
other Note Purchase Document or otherwise, as such Secured Party
may elect, whether or not such Secured Party has made any demand
for payment and although such obligations, liabilities and claims
may be contingent or unmatured. Each Secured Party shall notify
such Grantor promptly of any such set-off and the application made
by such Secured Party of the proceeds thereof, <font style="text-decoration: underline">provided</font> that the failure to
give such notice shall not affect the validity of such set-off and
application. The rights of the Secured Parties under this Section
are in addition to other rights and remedies (including, without
limitation, other rights of set-off) which such Secured Party may
have.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">30</font></div>
</div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
8.08.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline">Counterparts</font></font><font style="font-family: Times New Roman; font-size: 13px">. This Agreement
may be executed by one or more of the parties to this Agreement on
any number of separate counterparts, each of which when so executed
shall be deemed to be an original and all of which taken together
shall be deemed to constitute one and the same instrument. Delivery
of an executed counterpart of a signature page to this Agreement by
facsimile shall be effective as delivery of an original executed
counterpart of this Agreement.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
8.09.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline">Severability</font></font><font style="font-family: Times New Roman; font-size: 13px">. Any provision of
this Agreement which is prohibited or unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the
extent of such prohibition or unenforceability without invalidating
the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other
jurisdiction.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
8.10.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline">Headings</font></font><font style="font-family: Times New Roman; font-size: 13px">. The Article and
Section headings used in this Agreement are for convenience of
reference only and are not to affect the construction hereof or be
taken into consideration in the interpretation hereof.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
8.11.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline">Governing
Law</font></font><font style="font-family: Times New Roman; font-size: 13px">. THIS AGREEMENT
AND THE RIGHTS AND OBLIGATIONS OF THE GRANTORS AND SECURED PARTIES
HEREUNDER AND ANY CLAIMS, CONTROVERSY, DISPUTE OR CAUSE OF ACTION
(WHETHER IN CONTRACT OR TORT OR OTHERWISE) BASED UPON, ARISING OUT
OF OR RELATING TO THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED
HEREBY AND THEREBY SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
8.12.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline">Submission To
Jurisdiction.</font></font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
&#xA0;&#xA0; &#xA0; EACH GRANTOR IRREVOCABLY AND UNCONDITIONALLY
AGREES THAT IT WILL NOT COMMENCE ANY ACTION, LITIGATION OR
PROCEEDING OF ANY KIND OR DESCRIPTION, WHETHER IN LAW OR EQUITY,
WHETHER IN CONTRACT OR IN TORT OR OTHERWISE, AGAINST THE AGENT, ANY
NOTEHOLDER, ANY OTHER SECURED PARTY OR ANY RELATED PARTY OF THE
FOREGOING IN ANY WAY RELATING TO THIS AGREEMENT OR ANY OTHER NOTE
PURCHASE DOCUMENT OR THE TRANSACTIONS RELATING HERETO OR THERETO,
IN ANY FORUM OTHER THAN THE COURTS OF THE STATE OF NEW YORK SITTING
IN NEW YORK COUNTY AND OF THE UNITED STATES DISTRICT COURT OF THE
SOUTHERN DISTRICT OF NEW YORK, AND ANY APPELLATE COURT FROM ANY
THEREOF, AND EACH OF THE PARTIES HERETO IRREVOCABLY AND
UNCONDITIONALLY SUBMITS TO THE JURISDICTION OF SUCH COURTS AND
AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION, LITIGATION OR
PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE COURT
OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH
FEDERAL COURT. EACH OF THE PARTIES HERETO AGREES THAT A FINAL
JUDGMENT IN ANY SUCH ACTION, LITIGATION OR PROCEEDING SHALL BE
CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON
THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. NOTHING IN
THIS AGREEMENT OR IN ANY OTHER NOTE PURCHASE DOCUMENT SHALL AFFECT
ANY RIGHT THAT THE AGENT MAY OTHERWISE HAVE TO BRING ANY ACTION OR
PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER NOTE PURCHASE
DOCUMENT AGAINST THE COMPANY OR ANY OTHER GRANTOR OR OBLIGOR OR ITS
PROPERTIES IN THE COURTS OF ANY JURISDICTION.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">31</font></div>
</div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Each
Grantor irrevocably and unconditionally waives, to the fullest
extent permitted by applicable law, any objection that it may now
or hereafter have to the laying of venue of any action or
proceeding arising out of or relating to this Agreement or any
other Note Purchase Document in any court referred to in Section
8.12(a). Each of the parties hereto hereby irrevocably waives, to
the fullest extent permitted by applicable law, the defense of an
inconvenient forum to the maintenance of such action or proceeding
in any such court.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(c)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Each
party hereto irrevocably consents to service of process in the
manner provided for notices in Section 8.02. Nothing in this
Agreement will affect the right of any party hereto to serve
process in any other manner permitted by applicable
law</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(d)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Each
Grantor agrees (i) to not assert any claim against the Agent, any
Noteholder or any of their Related Parties, for special, indirect,
consequential or punitive damages arising out of or otherwise
relating to or alleged in connection with this Agreement or any of
the other Note Purchase Documents or any of the transactions
contemplated herein and (ii) that the Agent, the Noteholders or
their respective Related Parties shall have no responsibility or
liability to any other party or any of its Related Parties for any
such damages.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
8.13.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline">Acknowledgements</font></font><font style="font-family: Times New Roman; font-size: 13px">.
Each party hereby acknowledges and agrees that:</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;it
has been advised by counsel in the negotiation, execution and
delivery of this Agreement and the other Note Purchase Documents to
which it is a party, and this Agreement shall be construed as if
jointly drafted by the parties hereto;</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;no
Secured Party has any fiduciary relationship with or duty to any
Grantor arising out of or in connection with this Agreement or any
of the other Note Purchase Documents, and the relationship between
the Grantors, on the one hand, and the Secured Parties, on the
other hand, in connection herewith or therewith is solely that of
debtor and creditor; and</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(c)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;no
joint venture is created hereby or by the other Note Purchase
Documents or otherwise exists by virtue of the transactions
contemplated hereby among the Secured Parties or among the Grantors
and the Secured Parties.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
8.14.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline">Additional
Grantors</font></font><font style="font-family: Times New Roman; font-size: 13px">. If the Company
shall create or acquire any direct or indirect Subsidiary after the
date hereof, the Company shall immediately cause such Subsidiary to
become a party to this Agreement and to be a Grantor for all
purposes of this Agreement by execution and delivery by such
Subsidiary of an Assumption Agreement in the form of <font style="text-decoration: underline">Annex&#xA0;1</font>
hereto.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px;">
<font style="font-family: Times New Roman; font-size: 13px">Section
8.15.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0; &#xA0; &#xA0;
<font style="text-decoration: underline">Release.</font></font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 48px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
&#xA0; &#xA0; At such time as the Guaranteed Obligations shall have
been paid in full, the Collateral shall be released from the Liens
created hereby, and this Agreement and all obligations (other than
those expressly stated to survive such termination) of the Agent
and each Grantor hereunder shall terminate, all without delivery of
any instrument or performance of any act by any party, and all
rights to the Collateral shall revert to the Grantors. At the
request and sole expense of any Grantor following any such
termination, the Agent shall deliver to such Grantor any Collateral
held by the Agent hereunder, and execute and deliver to such
Grantor such documents as such Grantor shall reasonably request to
evidence such termination.</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 96px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 96px;">
<font style="font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Each
Grantor acknowledges that it is not authorized to file any
financing statement or amendment or termination statement with
respect to any financing statement originally filed in connection
herewith without the prior written consent of the Agent subject to
such Grantor&#x2019;s rights under Section 9-509(d)(2) of the
UCC.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">32</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 276px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">Section
8.16.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="font-weight: bold; text-decoration: underline">WAIVER
OF JURY TRIAL</font></font><font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">.
EACH GRANTOR WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE
LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL
PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO
THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY (WHETHER
BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A)
CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY SECURED
PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH SECURED
PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE
FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT THE SECURED PARTIES
HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG
OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS
SECTION.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 276px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">Section
8.17.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline">INTEGRATION</font></font><font style="font-family: Times New Roman; font-size: 13px">. THIS WRITTEN
AGREEMENT REPRESENTS THE FINAL AGREEMENT OF THE GRANTORS AND THE
SECURED PARTIES WITH RESPECT TO THE SUBJECT MATTER HEREOF, AND MAY
NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR
SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO PROMISES,
UNDERTAKINGS, REPRESENTATIONS OR WARRANTIES BY THE ADMNISTRATIVE
AGENT OR ANY OTHER SECURED PARTY RELATIVE TO THE SUBJECT MATTER
HEREOF NOT EXPRESSLY SET FORTH OR REFERRED TO HEREIN. THERE ARE NO
UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 276px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">Section
8.18.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline">Time is of the
Essence</font></font><font style="font-family: Times New Roman; font-size: 13px">. Time is of the
essence of this Agreement.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 276px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">Section
8.19.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline">Survival</font></font><font style="font-family: Times New Roman; font-size: 13px">. All covenants,
agreements, representations and warranties made by the Grantors
herein and in the certificates or other instruments delivered in
connection with or pursuant to this Agreement shall be considered
to have been relied upon by the Secured Parties and shall survive
the execution and delivery of this Agreement and the making of the
Loans, regardless of any investigation made by any Secured Party or
on its behalf and notwithstanding that any Secured Party may have
had notice or knowledge of any Default or incorrect representation
or warranty at the time any credit is extended hereunder, and shall
continue in full force and effect as long as the principal of or
any accrued interest on the Loans or any other Guaranteed
Obligations are outstanding and unpaid.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">[Signature
Page Follows]</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">33</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">IN
WITNESS WHEREOF, each of the undersigned has caused this Agreement
to be duly executed and delivered as of the date first above
written.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="text-decoration: underline">GRANTOR</font>:</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px;">&#xA0;</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">AEMETIS
PROPERTY KEYES, INC.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table; margin-left: 285px">
<div style="display: table-row">
<div style="display: table-cell; width: 339px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;By:&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline; font-size: 13px">/s/ Eric
A. McAfee</font></font></div>
</div>
</div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 36px">
<font style="font-family: Times New Roman; font-size: 13px">Name:
Eric McAfee</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 36px">
<font style="font-family: Times New Roman; font-size: 13px">Title:
CEO</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="text-decoration: underline">AGENT</font>:</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">THIRD
EYE CAPITAL CORPORATION</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table; margin-left: 285px">
<div style="display: table-row">
<div style="display: table-cell; width: 339px"><font style="font-family: Times New Roman; font-size: 13px">&#xA0;By:&#xA0;&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline; font-size: 13px">/s/ Arif
N. Bhalwani</font></font></div>
</div>
</div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 36px">
<font style="font-family: Times New Roman; font-size: 13px">Name:
Arif N. Bhalwani</font></div>
<div style="text-align: left; margin-left: 288px; margin-right: 0px; text-indent: 36px">
<font style="font-family: Times New Roman; font-size: 13px">Title:
Managing Director</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font><font style="font-family: Times New Roman; font-size: 13px">[Signature
Page &#x2013; General Security Agreement]</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="text-decoration: underline; font-weight: bold; font-family: Times New Roman; font-size: 13px">
</font></div>
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<font style="text-decoration: underline; font-weight: bold; font-family: Times New Roman; font-size: 13px">
</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<br>
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&#xA0; <font style="font-family: Times New Roman; font-size: 13px">34</font></div>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.10
<SEQUENCE>7
<FILENAME>amtx_ex1010.htm
<DESCRIPTION>INTERCOMPANY REVOLVING PROMISSORY NOTE
<TEXT>
<html>
<head>
<!-- Document created using Blueprint(R) - powered by Issuer Direct - www.issuerdirect.com -->
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<title>Blueprint</title>
</head>
<body style="font-family: Times New Roman; font-size: 13px;">
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<div id="hdr">
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">Exhibit
10.10</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px">
INTERCOMPANY REVOLVING PROMISSORY NOTE</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div>
<table cellpadding="0" cellspacing="0" style="width: 100%; font-family: Times New Roman; font-size: 13px">
<tr>
<td style="vertical-align: top; width: 46%">
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">December
3, 2018</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 54%">
<div style="text-align: right; margin-left: 156px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">$3,500,000.00</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr></table>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">FOR
VALUE RECEIVED, and subject to the terms and conditions set forth
herein, Aemetis Property Keyes, Inc., a Delaware corporation (the
&#x201C;<font style="text-decoration: underline; color: #000000">Borrower</font>&#x201D;),
hereby unconditionally promises to pay to the order of Goodland
Advanced Fuels, Inc., a Delaware corporation, or its assigns (the
&#x201C;<font style="text-decoration: underline; color: #000000">Holder</font>&#x201D;,
and together with the Borrower, the &#x201C;<font style="text-decoration: underline; color: #000000">Parties</font>&#x201D;),
the principal amount of <font style="font-weight: bold">Three
Million Five Hundred Thousand Dollars ($3,500,000)</font> (the
&#x201C;<font style="text-decoration: underline; color: #000000">Loan</font>&#x201D;)
or, if less, then the aggregate of such amounts the Holder has
disbursed to the Borrower pursuant to <font style="text-decoration: underline">Section</font><font style="font-weight: bold; text-decoration: underline">&#xA0;</font><font style="text-decoration: underline">2.2</font>,
together with all accrued interest thereon, as provided in this
Intercompany Revolving Promissory Note (the &#x201C;<font style="text-decoration: underline; color: #000000">Note</font>&#x201D;).</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table">
<div style="display: table-row">
<div style="display: table-cell; width: 24px"><font style="font-family: Times New Roman; font-size: 13px">1.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px"><font style="text-decoration: underline">Definitions</font>. Capitalized terms
used herein shall have the meanings set forth in this <font style="text-decoration: underline">Section 1</font>.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="text-decoration: underline; color: #000000">Advance</font>&#x201D;&#xA0;means
each disbursement made by the Holder to the Borrower pursuant to
<font style="text-decoration: underline">Section
2.2</font>.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="text-decoration: underline; color: #000000">Borrowing
Notice</font>&#x201D;&#xA0;has the meaning set forth in <font style="text-decoration: underline">Section 2.2</font>.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="text-decoration: underline; color: #000000">Business
Day</font>&#x201D;&#xA0;means a day other than a Saturday, Sunday or
other day on which commercial banks in New York, New York are
authorized or required by law to close.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="text-decoration: underline; color: #000000">Commitment
Period</font>&#x201D;&#xA0;means the period from the date hereof to
the earlier of (a) the Maturity Date, or (b) the date, if any, on
which the Noteholders have no further obligation to make loans
under the Note Purchase Agreement.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="text-decoration: underline; color: #000000">Debt</font>&#x201D;&#xA0;of
the Borrower, means all (a) indebtedness for borrowed money; (b)
obligations secured by a Lien on property (to the extent of the
fair market value of the related property), whether or not the
obligation secured thereby shall have been assumed and whether or
not the obligation secured is the obligation of the owner or
another party, except trade accounts payable arising in the
ordinary course of business secured by a purchase money security
interest (c) any obligation on account of deposits or advances, (d)
obligations for the deferred purchase price of property or
services, except trade payables arising in the ordinary course of
business; (e) obligations evidenced by notes, bonds, debentures or
other similar instruments; (f) obligations as lessee under capital
leases; (g) obligations in respect of any interest rate swaps,
currency exchange agreements, commodity swaps, caps, collar
agreements or similar arrangements entered into by the Borrower
providing for protection against fluctuations in interest rates,
currency exchange rates or commodity prices or the exchange of
nominal interest obligations, either generally or under specific
contingencies; (h) obligations under acceptance facilities and
letters of credit; (i) guaranties, endorsements (other than for
collection or deposit in the ordinary course of business), and
other contingent obligations to purchase, to provide funds for
payment, to supply funds to invest in any Person, or otherwise to
assure a creditor against loss, in each case, in respect of
indebtedness set out in clauses (a) through (h) of a Person other
than the Borrower; and (j) indebtedness set out in clauses (a)
through (i) of any Person other than Borrower secured by any lien
on any asset of the Borrower, whether or not such indebtedness has
been assumed by the Borrower.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">1</font></div>
</div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="text-decoration: underline; color: #000000">Default</font>&#x201D;&#xA0;means
any of the events specified in <font style="text-decoration: underline">Section 8</font> which constitutes an
Event of Default or which, upon the giving of notice, the lapse of
time, or both pursuant to <font style="text-decoration: underline">Section 8</font> would, unless cured
or waived, become an Event of Default.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="text-decoration: underline">Default Rate</font>&#x201D; means a
rate of interest per annum equal to the Interest Rate plus six
percent (6%) per annum.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="text-decoration: underline; color: #000000">Event of
Default</font>&#x201D;&#xA0;has the meaning set forth in
<font style="text-decoration: underline">Section
8</font>.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="text-decoration: underline; color: #000000">GAAP</font>&#x201D;&#xA0;means
generally accepted accounting principles in the United States of
America as in effect from time to time.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="text-decoration: underline">Interest Rate</font>&#x201D; for each
Advance shall be equal to the interest rate payable as of the date
of such Advance to the Noteholders pursuant to the Note Purchase
Agreement or, if the Note Purchase Agreement shall not be in
effect, a rate of interest per annum equal to twelve percent
(12%).</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="text-decoration: underline; color: #000000">Lien</font>&#x201D;&#xA0;means
any mortgage, pledge, hypothecation, encumbrance, lien (statutory
or other), charge or other security interest.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="text-decoration: underline; color: #000000">Loan</font>&#x201D;&#xA0;has
the meaning set forth in the introductory paragraph.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="text-decoration: underline; color: #000000">Material Adverse
Effect</font>&#x201D;&#xA0;means any condition or circumstance which
has had, or could reasonably be expected to have, a material
adverse effect on (i) the property, nature of assets, business,
results of operations, prospects, performance, liabilities or
condition (financial or otherwise) of the Borrower; (ii) the rights
or remedies of the Holder hereunder, (iii) the ability of the
Borrower to perform its obligations hereunder or otherwise in
connection with the Loan, or (v) the validity or enforceability of
any of this Note.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="text-decoration: underline; color: #000000">Maturity
Date</font>&#x201D;&#xA0;means the Maturity Date (as such term is
defined in the Note Purchase Agreement).</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="text-decoration: underline">Note Purchase Agreement</font>&#x201D;
means that certain Note Purchase Agreement entered into as of June
30, 2017 (including all exhibits and schedules hereto, as amended
by the Amendment No. 1 to Note Purchase Agreement dated as of June
28, 2018, the Amendment No. 2 to Note Purchase Agreement dated as
of December 3, 2018, and as the same may be amended, supplemented,
modified and/or restated from time to time, by and among the
Holder, as borrower, the noteholders party thereto or which
thereafter become parties thereto by means of assignment and
assumption as described therein (the &#x201C;<font style="text-decoration: underline">Noteholders</font>&#x201D;), and Third
Eye Capital Corporation, as administrative agent and collateral
agent for the Noteholders (the &#x201C;<font style="text-decoration: underline">Agent</font>&#x201D;).</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="text-decoration: underline">Outstanding Amount</font>&#x201D; means
the sum of the outstanding principal amount of the Revolving
Advances,<font style="font-size: 13px">&#xA0;</font>the unpaid
interest thereon, and all other Note Indebtedness relating to the
Revolving Line under the Note Purchase Agreement. All defined terms
used in this definition of &#x201C;Outstanding Amounts&#x201D; shall
have the meaning ascribed thereto under the Note Purchase
Agreement.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">2</font></div>
</div>
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="text-decoration: underline; color: #000000">Parties</font>&#x201D;&#xA0;has
the meaning set forth in the introductory paragraph.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="text-decoration: underline; color: #000000">Person</font>&#x201D;&#xA0;means
any individual, corporation, limited liability company, trust,
joint venture, association, company, limited or general
partnership, unincorporated organization, governmental authority or
other entity.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table">
<div style="display: table-row">
<div style="display: table-cell; width: 24px"><font style="font-family: Times New Roman; font-size: 13px">2.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px"><font style="text-decoration: underline">Loan Disbursement
Mechanics</font>.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">2.1&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Commitment</font>.
Subject to <font style="text-decoration: underline">Section
2.2</font>, the Holder shall make available to the Borrower one or
more Advances during the Commitment Period in an aggregate amount
not to exceed the Loan less the Outstanding Amount. During the
Commitment Period the Borrower may repay and reborrow in accordance
with the provisions hereof.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">2.2&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Advances</font>.
As a condition to the disbursement of any Advance, the Borrower
shall, at least seven (7) Business Days prior to the requested
disbursement date, deliver to the Holder and to Agent a written
notice (the &#x201C;<font style="text-decoration: underline; color: #000000">Borrowing
Notice</font>&#x201D;) in substantially in the form set out in
<font style="text-decoration: underline">Schedule A</font> hereto
setting out (a) that no Default has occurred and is continuing; (b)
the amount of the Advance and a description of how the Advance will
be used by the Borrower; and (c) the date on which the Advance is
to be disbursed. Each Borrowing Notice shall be deemed to repeat
the Borrower's representations and warranties in <font style="text-decoration: underline">Section 6</font> as of the date of
such Borrowing Notice. Upon receipt of the Borrowing Notice, the
Holder may, but is under no obligation to, make available to the
Borrower on the disbursement date the amount set out in the notice
in immediately available funds.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table">
<div style="display: table-row">
<div style="display: table-cell; width: 24px"><font style="font-family: Times New Roman; font-size: 13px">3.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px"><font style="text-decoration: underline">Final Payment Date; Optional
Prepayments</font>.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">3.1&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Final
Payment Date</font>. The aggregate unpaid principal amount of the
Loan, all accrued unpaid interest and all other amounts payable
under this Note shall be due and payable on the Maturity Date,
unless otherwise provided in <font style="text-decoration: underline">Section 9</font>.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">3.2&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Optional
Prepayment</font>. The Borrower may prepay the Loan in whole or in
part at any time or from time to time without penalty or premium by
paying the principal amount to be prepaid together with accrued
interest thereon to the date of prepayment. Subject to the other
terms and conditions hereof, amounts borrowed may be repaid and
reborrowed from time to time.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table">
<div style="display: table-row">
<div style="display: table-cell; width: 24px"><font style="font-family: Times New Roman; font-size: 13px">4.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px"><font style="text-decoration: underline">Interest</font>.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">4.1&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Interest
Rate</font>. The outstanding principal of the Advances made
hereunder (including, to the extent permitted by law, on interest
thereon not paid when due) shall from the date made or incurred
until indefeasibly paid in full in cash shall bear interest at a
per annum rate equal to the Interest Rate, but not to exceed the
maximum rate described in <font style="text-decoration: underline">Section 4.4</font>
hereof.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">3</font></div>
</div>
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">4.2&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline; color: #000000">Default
Rate</font><font style="color: #000000">. If an Event of Default
shall have occurred and be continuing, all outstanding principal of
and, to the fullest extent permitted by law, all past due interest
on the Advances shall bear interest at a rate per annum equal to
the Default Rate. Interest payable at the Default Rate shall be
payable from time to time on demand.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">4.3&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline; color: #000000">Interest
Payment Dates</font><font style="color: #000000">. Interest on
the</font> Advances <font style="color: #000000">shall be payable
on the outstanding principal of the Advances in arrears for the
preceding calendar month on the first Business Day of each calendar
month, commencing on first Business Day of the calendar month
following the disbursement of an Advance under</font> <font style="text-decoration: underline; color: #000000">Section 2.2</font>
<font style="color: #000000">hereunder.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">4.4&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Interest
Rate Limitation</font>. If at any time and for any reason
whatsoever, the interest rate payable on any Advance shall exceed
the maximum rate of interest permitted to be charged by the Holder
to the Borrower under applicable law, such interest rate shall be
reduced automatically to the maximum rate of interest permitted to
be charged under applicable law.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table">
<div style="display: table-row">
<div style="display: table-cell; width: 24px"><font style="font-family: Times New Roman; font-size: 13px">5.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px"><font style="text-decoration: underline">Payment Mechanics</font>.</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">5.1&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Manner
of Payments</font>. All payments of interest and principal shall be
made in lawful money of the United States of America no later than
3:00 PM Pacific Time on the date on which such payment is due by
wire transfer of immediately available funds to the Holder's
account at a bank specified by the Holder in writing to the
Borrower from time to time.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">5.2&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Application
of Payments</font>. All payments made hereunder shall be applied
first to the payment of any fees or charges outstanding hereunder,
second to accrued interest, and third to the payment of the
principal amount outstanding under the Note.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">5.3&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Business
Day Convention</font>. Whenever any payment to be made hereunder
shall be due on a day that is not a Business Day, such payment
shall be made on the next succeeding Business Day and such
extension will be taken into account in calculating the amount of
interest payable under this Note.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">5.4&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Evidence
of Debt</font>. The Holder is authorized to record on its books and
records each Advance made to the Borrower and each payment or
prepayment thereof. The entries made by the Holder shall, to the
extent permitted by applicable law, be prima facie evidence of the
existence and amounts of the obligations of the Borrower therein
recorded; <font style="font-style: italic">provided, however,
that</font> the failure of the Holder to record such payments or
prepayments, or any inaccuracy therein, shall not in any manner
affect the obligation of the Borrower to repay (with applicable
interest) the Advances in accordance with the terms of this
Note.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">5.5&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Rescission
of Payments</font>. If at any time any payment made by the Borrower
under this Note is rescinded or must otherwise be restored or
returned upon the insolvency, bankruptcy or reorganization of the
Borrower or otherwise, the Borrower's obligation to make such
payment shall be reinstated as though such payment had not been
made.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table">
<div style="display: table-row">
<div style="display: table-cell; width: 24px"><font style="font-family: Times New Roman; font-size: 13px">6.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px"><font style="text-decoration: underline">Representations and Warranties</font>.
The Borrower hereby represents and warrants to the Holder on the
date hereof as follows:</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">4</font></div>
</div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">6.1&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Existence;
Compliance With Laws</font>. The Borrower is (a) a company duly
formed, validly existing and in good standing under the laws of the
State of Delaware and has the requisite power and authority, and
the legal right, to own, lease and operate its properties and
assets and to conduct its business as it is now being conducted and
(b) in compliance with all laws.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">6.2&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Power
and Authority</font>. The Borrower has the power and authority, and
the legal right, to execute and deliver this Note and to perform
its obligations hereunder.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">6.3&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Authorization;
Execution and Delivery</font>. The execution and delivery of this
Note by the Borrower and the performance of its obligations
hereunder have been duly authorized by all necessary corporate
action in accordance with all applicable laws. The Borrower has
duly executed and delivered this Note.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">6.4&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">No
Approvals</font>. No consent or authorization of, filing with,
notice to or other act by, or in respect of, any governmental
authority or any other Person is required in order for the Borrower
to execute, deliver, or perform any of its obligations under this
Note.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">6.5&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">No
Violations</font>. The execution and delivery of this Note and the
consummation by the Borrower of the transactions contemplated
hereby do not and will not (a) violate any provision of the
Borrower's organizational documents; (b) violate any law applicable
to the Borrower or by which any of its properties or assets may be
bound; or (c) constitute a default under any material agreement or
contract by which the Borrower may be bound.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">6.6&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Enforceability</font>.
The Note is a valid, legal and binding obligation of the Borrower,
enforceable against the Borrower in accordance with its
terms.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">6.7&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">No
Litigation</font>. No action, suit, litigation, investigation or
proceeding of, or before, any arbitrator or governmental authority
is pending or threatened by or against the Borrower or any of its
property or assets (a) with respect to the Note or any of the
transactions contemplated hereby or (b) that would be expected to
materially adversely affect the Borrower's financial condition or
the ability of the Borrower to perform its obligations under the
Note.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="display: table">
<div style="display: table-row">
<div style="display: table-cell; width: 24px"><font style="font-family: Times New Roman; font-size: 13px">7.&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</font></div>
<div style="text-align: left; display: table-cell"><font style="font-family: Times New Roman; font-size: 13px"><font style="text-decoration: underline">Affirmative Covenants</font>. Until
all amounts outstanding in this Note have been paid in full, the
Borrower shall:</font></div>
</div>
</div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">7.1&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Maintenance
of Existence</font>. (a) Preserve, renew and maintain in full force
and effect its corporate or organizational existence and (b) take
all reasonable action to maintain all rights, privileges and
franchises necessary or desirable in the normal conduct of its
business, except, in each case, where the failure to do so would
not reasonably be expected to have a Material Adverse
Effect.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">7.2&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Compliance</font>.
Comply with (a) all of the terms and provisions of its
organizational documents; (b) its obligations under its material
contracts and agreements; and (c) all laws applicable to it and its
business, in each case, except where the failure to do so would not
reasonably be expected to have a Material Adverse
Effect.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">5</font></div>
</div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">7.3&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Payment
Obligations</font>. Pay, discharge or otherwise satisfy at or
before maturity or before they become delinquent, as the case may
be, all its material obligations of whatever nature, except where
the amount or validity thereof is currently being contested in good
faith by appropriate proceedings, and reserves in conformity with
GAAP with respect thereto have been provided on its
books.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">7.4&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Notice
of Events of Default</font>. As soon as possible and in any event
within two (2) Business Days after it becomes aware that a Default
or an Event of Default has occurred, notify the Holder in writing
of the nature and extent of such Default or Event of Default and
the action, if any, it has taken or proposes to take with respect
to such Default or Event of Default.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">7.5&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Further
Assurances</font>. Upon the request of the Holder, promptly execute
and deliver such further instruments and do or cause to be done
such further acts as may be necessary or advisable to carry out the
intent and purposes of this Note.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 0px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 13px">8.&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline">Events of Default</font>.
The occurrence and continuance of any of the following shall
constitute an Event of Default hereunder:</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">8.1&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Failure
to Pay</font>. The Borrower fails to pay any principal amount of
the Loan when due or interest or any other amount when
due.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">8.2&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Breach
of Representations and Warranties</font>. Any representation or
warranty made or deemed made by the Borrower to the Holder herein
is incorrect in any material respect on the date as of which such
representation or warranty was made or deemed made.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">8.3&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Breach
of Covenants</font>. The Borrower fails to observe or perform any
covenant, condition or agreement contained in this Note other than
those specified in <font style="text-decoration: underline">Section
8.1</font> and such failure continues for 10 days.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">8.4&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Cross-Defaults</font>.
The Borrower fails to pay when due any of its Debt in excess of
$100,000 at any time outstanding (other than Debt arising under
this Note) or any interest or premium thereon when due (whether by
scheduled maturity, acceleration, demand or otherwise) and such
failure continues after the applicable grace period, if any,
specified in the agreement or instrument relating to such
Debt.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">8.5&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Bankruptcy</font>.
&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 60px">
<font style="font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;the
Borrower commences any case, proceeding or other action (i) under
any existing or future law relating to bankruptcy, insolvency,
reorganization, or other relief of debtors, seeking to have an
order for relief entered with respect to it, or seeking to
adjudicate it as bankrupt or insolvent, or seeking reorganization,
arrangement, adjustment, winding-up, liquidation, dissolution,
composition or other relief with respect to it or its debts or (ii)
seeking appointment of a receiver, trustee, custodian, conservator
or other similar official for it or for all or any substantial part
of its assets, or the Borrower makes a general assignment for the
benefit of its creditors;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">6</font></div>
</div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 60px">
<font style="font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;there
is commenced against the Borrower any case, proceeding or other
action of a nature referred to in <font style="text-decoration: underline">Section 8.5(a)</font> above which (i)
results in the entry of an order for relief or any such
adjudication or appointment or (ii) remains undismissed,
undischarged or unbonded for a period of 90 days;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 60px">
<font style="font-family: Times New Roman; font-size: 13px">(c)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;there
is commenced against the Borrower any case, proceeding or other
action seeking issuance of a warrant of attachment, execution or
similar process against all or any substantial part of its assets
which results in the entry of an order for any such relief which
has not been vacated, discharged, or stayed or bonded pending
appeal within 90 days from the entry thereof;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 60px">
<font style="font-family: Times New Roman; font-size: 13px">(d)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;the
Borrower takes any action in furtherance of, or indicating its
consent to, approval of, or acquiescence in, any of the acts set
forth in <font style="text-decoration: underline">Section
8.5(a)</font>, <font style="text-decoration: underline">Section
8.5(b)</font> or <font style="text-decoration: underline">Section
8.5(c)</font> above; or</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 60px">
<font style="font-family: Times New Roman; font-size: 13px">(e)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;the
Borrower is generally not, or shall be unable to, or admits in
writing its inability to, pay its debts as they become
due.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">8.6&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Judgments</font>.
One or more judgments for an amount in excess of $100,000 at any
time or decrees shall be entered against the Borrower and all of
such judgments or decrees shall not have been vacated, discharged,
stayed or bonded pending appeal within ninety (90) days from the
entry thereof. Notwithstanding the foregoing, the outstanding
judgment against Borrower resulting from the case by Cordillera
Fund and The Industrial Company shall not result in an Event of
Default.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 0px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 13px">9.&#xA0;&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline">Remedies</font>. Upon the
occurrence of any Event of Default and at any time thereafter
during the continuance of such Event of Default, the Holder may at
its option, by written notice to the Borrower (a) terminate its
commitment to make any Advances hereunder; (b) declare the entire
principal amount of this Note, together with all accrued interest
thereon and all other amounts payable hereunder, immediately due
and payable; and/or (c) exercise any or all of its rights, powers
or remedies under applicable law; <font style="font-style: italic">provided, however</font> that, if an Event of
Default described in <font style="text-decoration: underline">Section 8.5</font> shall occur, the
principal of and accrued interest on the Loan shall become
immediately due and payable without any notice, declaration or
other act on the part of the Holder.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; text-indent: 0px; margin-right: 0px;"><font style="font-family: Times New Roman; font-size: 13px">10.&#xA0;&#xA0;
<font style="text-decoration: underline">Miscellaneous</font>.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">10.1&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Governing
Law</font>. This Note and any claim, controversy, dispute or cause
of action (whether in contract or tort or otherwise) based upon,
arising out of or relating to this Note, and the transactions
contemplated hereby shall be governed by the laws of the State of
New York.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">10.2&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Submission
to Jurisdiction</font>.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 60px">
<font style="font-family: Times New Roman; font-size: 13px">(a)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;The
Borrower hereby irrevocably and unconditionally (i) agrees that any
legal action, suit or proceeding arising out of or relating to this
Note may be brought in the courts of the State of New York or of
the United States of America for the Southern District of New York
and (ii) submits to the jurisdiction of any such court in any such
action, suit or proceeding. Final judgment against the Borrower in
any action, suit or proceeding shall be conclusive and may be
enforced in any other jurisdiction by suit on the
judgment.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">7</font></div>
</div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 60px">
<font style="font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Nothing
in this <font style="text-decoration: underline">Section
10.2</font><font style="font-weight: bold">&#xA0;</font>shall
affect the right of the Holder to (i) commence legal proceedings or
otherwise sue the Borrower in any other court having jurisdiction
over the Borrower or (ii) serve process upon the Borrower in any
manner authorized by the laws of any such
jurisdiction.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">10.3&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Venue</font>.
The Borrower irrevocably and unconditionally waives, to the fullest
extent permitted by applicable law, any objection that it may now
or hereafter have to the laying of venue of any action or
proceeding arising out of or relating to this Note in any court
referred to in <font style="text-decoration: underline">Section
10.2(a)</font> and the defense of an inconvenient forum to the
maintenance of such action or proceeding in any such
court.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">10.4&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Waiver
of Jury Trial</font>. THE BORROWER HEREBY IRREVOCABLY WAIVES, TO
THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY
HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR
INDIRECTLY RELATING TO THIS NOTE OR THE TRANSACTIONS CONTEMPLATED
HEREBY WHETHER BASED ON CONTRACT, TORT OR ANY OTHER
THEORY.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">10.5&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Counterparts;
Integration; Effectiveness</font>. This Note and any amendments,
waivers, consents or supplements hereto may be executed in
counterparts, each of which shall constitute an original, but all
taken together shall constitute a single contract. This Note
constitutes the entire contract between the Parties with respect to
the subject matter hereof and supersede all previous agreements and
understandings, oral or written, with respect thereto. Delivery of
an executed counterpart of a signature page to this Note by
facsimile or in electronic (i.e., &#x201C;pdf&#x201D; or
&#x201C;tif&#x201D;) format shall be effective as delivery of a
manually executed counterpart of this Note.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">10.6&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Successors
and Assigns</font>. This Note may be assigned or transferred by the
Holder to any Person. The Borrower may not assign or transfer this
Note or any of its rights hereunder without the prior written
consent of the Holder. This Note shall inure to the benefit of, and
be binding upon, the Parties and their permitted
assigns.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">10.7&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Waiver
of Notice</font>. The Borrower hereby waives demand for payment,
presentment for payment, protest, notice of payment, notice of
dishonor, notice of nonpayment, notice of acceleration of maturity
and diligence in taking any action to collect sums owing
hereunder.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">10.8&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Amendments
and Waivers</font>. No term of this Note may be waived, modified or
amended except by an instrument in writing signed by both of the
parties hereto. Any waiver of the terms hereof shall be effective
only in the specific instance and for the specific purpose
given.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">10.9&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Headings</font>.
The headings of the various Sections and subsections herein are for
reference only and shall not define, modify, expand or limit any of
the terms or provisions hereof.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">10.10&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">No
Waiver; Cumulative Remedies</font>. No failure to exercise and no
delay in exercising on the part of the Holder, of any right,
remedy, power or privilege hereunder shall operate as a waiver
thereof; nor shall any single or partial exercise of any right,
remedy, power or privilege hereunder preclude any other or further
exercise thereof or the exercise of any other right, remedy, power
or privilege. The rights, remedies, powers and privileges herein
provided are cumulative and not exclusive of any rights, remedies,
powers and privileges provided by law.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">10.11&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Severability</font>.
If any term or provision of this Note is invalid, illegal or
unenforceable in any jurisdiction, such invalidity, illegality or
unenforceability shall not affect any other term or provision of
this Note or invalidate or render unenforceable such term or
provision in any other jurisdiction.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 24px">
<font style="font-family: Times New Roman; font-size: 13px">10.12&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Agent
Rights</font>. This Note is a Revolving Intercompany Note referred
to in the Note Purchase Agreement, and, constitutes a Pledged Note
(as defined in the General Security Agreement) of the Holder. The
Holder and the Borrower hereunder hereby acknowledge and agree that
the Agent, for the benefit of the Noteholders, may exercise all
rights provided in the Note Purchase Agreement and the General
Security Agreement with respect to this Note.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">[SIGNATURE
PAGE FOLLOWS]</font></div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
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<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">8</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">IN
WITNESS WHEREOF, the Parties have executed this Note as of the date
first set forth above.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div>
<table cellpadding="0" cellspacing="0" style="width: 100%; font-family: Times New Roman; font-size: 13px">
<tr>
<td style="vertical-align: top; width: 49%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 51%">
<div style="text-align: left; margin-left: 0px; margin-right: 22px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold; color: #000000">BORROWER</font><font style="color: #000000">:</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 22px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">AEMETIS
PROPERTY KEYES, INC.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 49%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 51%;">
<div style="text-align: left; margin-left: 0px; margin-right: 22px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">By:</font></font> <font style="text-decoration: underline"><font style="font-family: Times New Roman; font-size: 13px"><font style="color: rgb(0, 0, 0); text-decoration: underline;">/s/ Eric A.
McAfee</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<br>
</font></font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 22px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Name:
Eric McAfee</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 22px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Title:
CEO</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr></table>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div>
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<tr>
<td style="vertical-align: top; width: 49%">
<div style="text-align: left; margin-left: 0px; margin-right: 22px; text-indent: 0px">
<font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">
HOLDER:</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 22px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">GOODLAND
ADVANCED FUELS, INC.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
<td style="vertical-align: top; width: 51%">
<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
</tr><tr>
<td style="vertical-align: top; width: 49%;">
<div style="text-align: left; margin-left: 0px; margin-right: 22px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">By:</font></font> <font style="text-decoration: underline"><font style="font-family: Times New Roman; font-size: 13px"><font style="color: rgb(0, 0, 0); text-decoration: underline;">/s/ Michael
Peterson</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</font>&#xA0;&#xA0;<br>
</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 22px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Name:
Michael Peterson</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 22px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">Title:</font></div>
</td>
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<div><font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</td>
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<DOCUMENT>
<TYPE>EX-10.11
<SEQUENCE>8
<FILENAME>amtx_ex1011.htm
<DESCRIPTION>PLEDGE AGREEMENT
<TEXT>
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<font style="font-family: Times New Roman; font-size: 13px">Exhibit
10.11</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
PLEDGE AGREEMENT</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
made by</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
AE ADVANCED FUELS. INC.,</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
as Pledgor</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
in favor of</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
THIRD EYE CAPITAL CORPORATION,</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
as Agent</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
Dated as of&#xA0;December 3, 2018</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold; color: #000000">PLEDGE
AGREEMENT</font><font style="color: #000000">, dated as of December
3, 2018, by AE ADVANCED FUELS, INC. (the &#x201C;</font><font style="text-decoration: underline; color: #000000">Pledgor</font><font style="color: #000000">&#x201D;),
in favor of THIRD EYE CAPITAL CORPORATION, as administrative agent
and collateral agent for and on behalf of the Noteholders (as
defined in the Note Purchase Agreement referred to below) (in such
aforesaid capacities, or any successor or assign in such
capacities, the &#x201C;</font><font style="text-decoration: underline; color: #000000">Agent</font><font style="color: #000000">&#x201D;).</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
PRELIMINARY STATEMENTS:</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(1)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Goodland
Advanced Fuels, Inc., a Delaware corporation (the
&#x201C;<font style="text-decoration: underline">Borrower</font>&#x201D;), the
Noteholders from time to time party thereto, and the Agent have
entered into that certain Note Purchase Agreement dated June 30,
2017 (as amended by the Amendment No. 1 to Note Purchase Agreement,
dated June 28, 2018, the Amendment No. 2 to Note Purchase
Agreement, dated December 3<font style="color: #000000">,
2018</font>, and as amended, varied, supplemented, restated,
renewed or replaced at any time and from time to time, the
&#x201C;<font style="text-decoration: underline">Note Purchase
Agreement</font>&#x201D;).</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(2)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">Pursuant
to the Note Purchase Agreement, the Noteholders have agreed to make
Loans from time to time to the Borrower, upon the terms and subject
to the conditions set forth therein.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(3)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;It
is a condition precedent to the obligation of the Noteholders to
make Loans under the Note Purchase Agreement that the Pledgor shall
have executed and delivered this Agreement to the Agent, for the
benefit of the Agent, the Noteholders from time to time party to
the Note Purchase Agreement and any other holder of any Note
Indebtedness (collectively with the Agent and the Noteholders, the
&#x201C;<font style="text-decoration: underline">Secured
Parties</font>&#x201D;).</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(4)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">The
Pledgor, a wholly-owned subsidiary of Aemetis, Inc., will derive
substantial direct and indirect benefit from the transactions
contemplated by the Note Purchase Agreement.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">NOW,
THEREFORE, in consideration of the premises and to induce the
Noteholders to make Loans pursuant to the Note Purchase Agreement
and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Pledgor hereby
agrees with the Agent, for the benefit of the Secured Parties, as
follows:</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">1.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline; color: #000000">Definitions</font><font style="color: #000000">.
(a) Unless otherwise defined herein, terms defined in the Note
Purchase Agreement and used herein shall have the meanings given to
them in the Note Purchase Agreement. Furthermore, unless otherwise
defined in this Agreement or the Note Purchase Agreement, terms
defined in Articles 8 or 9 of the UCC (as defined below) are used
in this Agreement as such terms are defined in such Articles 8 or
9.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(b)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">The
following terms shall have the following
meanings:</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">&#x201C;</font><font style="text-decoration: underline; color: #000000">Agreement</font><font style="color: #000000">&#x201D;
means this Pledge Agreement,</font> as amended, varied,
supplemented, restated, renewed or replaced at any time and from
time to time.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="text-decoration: underline">Capital Stock</font>&#x201D; means,
with respect to any Person, (a) any and all of the shares,
interests, rights, participations or other equivalents (however
designated) of capital stock of (or other ownership or profit
interests in) such Person, (b) any and all of the warrants, options
or other rights for the purchase or acquisition from such Person of
shares of capital stock of (or other ownership or profit interests
in) such Person, and (c) all of the securities convertible into or
exchangeable for shares of capital stock of (or other ownership or
profit interests in) such Person or warrants, rights or options for
the purchase or acquisition from such Person of such shares (or
such other interests), and all of the other ownership or profit
interests in such Person (including partnership, member or trust
interests therein), in the case of clauses (a) through (c) above,
whether voting or nonvoting, and whether or not such shares,
participations, warrants, options, rights or other interests are
outstanding on any date of determination.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">2</font></div>
</div>
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">&#x201C;</font><font style="text-decoration: underline; color: #000000">Collateral</font><font style="color: #000000">&#x201D;
has the meaning specified in Section 2.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 3px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">&#x201C;</font><font style="text-decoration: underline; color: #000000">Collateral
Account</font><font style="color: #000000">&#x201D; means any
account established to hold money proceeds, maintained under the
sole dominion and control of the Agent, subject to withdrawal by
the Agent for the account of the Secured Parties only as provided
in Section 12(b).</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 3px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">&#x201C;</font><font style="text-decoration: underline; color: #000000">Issuer</font><font style="color: #000000">&#x201D;
means Aemetis Property Keyes, Inc., a Delaware
corporation.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 3px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">&#x201C;</font><font style="text-decoration: underline; color: #000000">Pledged
Equity</font><font style="color: #000000">&#x201D; means the shares
of Capital Stock described in</font> <font style="text-decoration: underline; color: #000000">Schedule I</font>
<font style="color: #000000">hereto and issued by the
Issuer.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">&#x201C;</font><font style="text-decoration: underline; color: #000000">Pledgor</font><font style="color: #000000">&#x201D;
has the meaning specified in the recitals
hereto.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="text-decoration: underline">Proceeds</font>&#x201D; shall mean all
&#x201C;proceeds&#x201D; as defined in Article 9 of the UCC and, in
any event, includes, without limitation, (i)&#xA0;all payments,
dividends or distributions made with respect to any Pledged Equity
or other Capital Stock of the Issuer constituting Collateral, and
(ii)&#xA0;whatever is receivable or received when Collateral or
proceeds are sold, exchanged, collected or otherwise disposed of,
whether such disposition is voluntary or involuntary.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 61px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">&#x201C;</font><font style="text-decoration: underline; color: #000000">Secured
Parties</font><font style="color: #000000">&#x201D; has the meaning
specified in the recitals hereto.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 61px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">&#x201C;</font><font style="text-decoration: underline; color: #000000">Securities
Act</font><font style="color: #000000">&#x201D; has the meaning
specified in Section 13(a)(i).</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">&#x201C;</font><font style="text-decoration: underline; color: #000000">Solvent</font><font style="color: #000000">&#x201D;
when used with respect to any Person, means that, as of any date of
determination, (a) the amount of the &#x201C;present fair saleable
value&#x201D; of the assets of such Person will, as of such date,
exceed the amount of all &#x201C;liabilities of such Person,
contingent or otherwise&#x201D;, as of such date, as such quoted
terms are determined in accordance with applicable federal and
state laws governing determinations of the insolvency of debtors,
(b) the present fair saleable value of the assets of such Person
will, as of such date, be greater than the amount that will be
required to pay the liability of such Person on its debts as such
debts become absolute and matured, (c) such Person will not have,
as of such date, an unreasonably small amount of capital with which
to conduct its business, and (d) such Person will be able to pay
its debts as they mature. For purposes of this definition, (i)
&#x201C;debt&#x201D; means liability on a &#x201C;claim&#x201D;, and
(ii) &#x201C;claim&#x201D; means any (x) right to payment, whether or
not such a right is reduced to judgment, liquidated, unliquidated,
fixed, contingent, matured, unmatured, disputed, undisputed, legal,
equitable, secured or unsecured or (y) right to an equitable remedy
for breach of performance if such breach gives rise to a right to
payment, whether or not such right to an equitable remedy is
reduced to judgment, fixed, contingent, matured or unmatured,
disputed, undisputed, secured or unsecured.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">&#x201C;<font style="text-decoration: underline">UCC</font>&#x201D; means the Uniform
Commercial Code as in effect from time to time in the State of New
York; provided, that if perfection or the effect of perfection or
non-perfection or the priority of any security interest in any
Collateral is governed by the Uniform Commercial Code as in effect
in a jurisdiction other than the State of New York,
&#x201C;UCC&#x201D; means the Uniform Commercial Code as in effect
from time to time in such other jurisdiction for purposes of the
provisions hereof relating to such perfection, effect of perfection
or non-perfection or priority.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 3px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 13px">(c)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;The
rules of construction specified in Sections 1.2, 1.3 and 1.4 of the
Note Purchase Agreement shall apply to this Agreement, <font style="font-style: italic">mutatis mutandis</font>.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">3</font></div>
</div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 3px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 13px">(d)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;The
expressions &#x201C;payment in full,&#x201D; &#x201C;paid in
full&#x201D; and any other similar terms or phrases when used herein
with respect to the Note Indebtedness shall mean the unconditional,
final, indefeasible and irrevocable payment in full, in immediately
available funds, of all of the Note Indebtedness.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 3px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 13px">(e)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">No
inference in favor of, or against, any party to this Agreement
shall be drawn from the fact that such party has drafted any
portion of this Agreement.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">2.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline; color: #000000">Pledge;
Grant of Security Interest</font><font style="color: #000000">. The
Pledgor hereby pledges to the Agent for the benefit of the Secured
Parties, and grants to the Agent for the benefit of the Secured
Parties a security interest in, all of the following property,
whether now owned or existing or hereafter arising or
acquired</font> by the Pledgor or in which the Pledgor now has or
at any time in the future may acquire any right, title or interest
(collectively, the &#x201C;<font style="text-decoration: underline">Collateral</font>&#x201D;)<font style="color: #000000">:</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(i)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">the
Pledged Equity and the certificates, if any, representing the
Pledged Equity, and all dividends, distributions, return of
capital, cash, warrants, rights, options, instruments, securities
and other property or proceeds from time to time received,
receivable or otherwise distributed in respect of or in exchange
for any or all of the Pledged Equity and all subscription warrants,
rights, options or warrants issued thereon or with respect
thereto;</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(ii)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="color: #000000">all additional Capital Stock issued by
the Issuer and from time to time acquired by the Pledgor in any
manner, and the certificates, if any, representing such additional
Capital Stock, and all dividends, distributions, return of capital,
warrants, rights, options, instruments, securities and other
property or proceeds from time to time received, receivable or
otherwise distributed in respect of or in exchange for any or all
of such Capital Stock and all subscription warrants, rights or
options issued thereon or with respect thereto;</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(iii)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="color: #000000">any interest of the Pledgor in the
entries on the books of the Issuer with respect to any of the
foregoing; and</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(iv)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="color: #000000">all Proceeds of any and all of the
foregoing Collateral (including, without limitation, Proceeds that
constitute property of the types described
above).</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 13px">3.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline; color: #000000">Security
for</font> <font style="text-decoration: underline">Note
Indebtedness</font><font style="color: #000000">. This Agreement
secures the payment and performance</font> when due (whether at the
stated maturity, by acceleration or otherwise) for the Note
Indebtedness (as defined in the Note Purchase
Agreement)<font style="color: #000000">.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 13px">4.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline; color: #000000">Delivery
of Collateral</font><font style="color: #000000">.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(a)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">All
certificates or instruments representing or evidencing the
Collateral shall be delivered to and held by or on behalf of the
Agent pursuant hereto and shall be in suitable form for transfer by
delivery, or shall be accompanied by duly executed instruments of
transfer or assignment in blank, all in form and substance
satisfactory to the Agent. The Agent shall have the right, at any
time in its discretion and without notice to the Pledgor, to
transfer to or to register in the name of the Agent or any of its
nominees any or all of the Collateral, subject only to the
revocable rights specified in Section 7(a). For the better
perfection of the Agent&#x2019;s rights in and to the Collateral,
upon the request of the Agent, the Pledgor shall forthwith, upon
the pledge of any Collateral hereunder, cause such Collateral to be
registered in the name of such nominee or nominees of the Agent as
the Agent shall direct, subject only to the revocable rights
specified in Section 7(a). In addition, the Agent shall have the
right at any time to exchange certificates or instruments
representing or evidencing Collateral for certificates or
instruments of smaller or larger denominations.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">4</font></div>
</div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(b)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">With
respect to any Collateral in which the Pledgor has any right, title
or interest and that constitutes an uncertified security, the
Pledgor will cause the issuer thereof either (i) to register the
Agent as the registered owner of such security or (ii) to agree in
an authenticated record with the Pledgor and the Agent that such
issuer will comply with instructions with respect to such security
originated by the Agent without further consent of the Pledgor,
such authenticated record to be in form and substance satisfactory
to the Agent.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 3px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 13px">5.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
&#xA0; &#xA0; <font style="text-decoration: underline; color: #000000">Representations and
Warranties</font><font style="color: #000000">. The Pledgor
represents and warrants to the Agent and the other Secured Parties
as follows:</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(a)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">The
Pledgor is duly organized, validly existing and in good standing
under the laws of the jurisdiction of its organization and has the
organizational power and authority and the legal right to own and
operate its property, to lease the property it operates and to
conduct the business in which it is currently
engaged.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(b)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">The
Pledgor has the organizational power and authority and the legal
right to execute and deliver, and to perform its obligations under
this Agreement, and has taken all necessary organizational action
to duly authorize its execution, delivery and performance of this
Agreement.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(c)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">The
Pledgor will be the full legal and beneficial owner of the
Collateral free and clear of any Lien, claim, option or other
charge or encumbrance (including any restriction on assignment or
transfer), except for the security interest created by this
Agreement.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(d)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">This
Agreement and the pledge of the Pledged Equity pursuant to this
Agreement creates a valid and perfected first priority security
interest in the Collateral, securing the payment and performance of
the Note Indebtedness, and all filings and other actions necessary
or desirable to perfect and protect such security interest have
been duly taken, and there are no outstanding preemptive rights,
warrants, options or other rights to purchase, or shareholder,
voting trust or similar agreements outstanding with respect to, or
property that is convertible into, or that requires the issuance or
sale of, the Pledged Equity.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(e)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">No
consent of any other Person and no authorization, approval, or
other action by, and no notice to or filing with, any Governmental
Authority is required (i) for the pledge by the Pledgor of the
Collateral pursuant to this Agreement or for the execution,
delivery or performance of this Agreement by the Pledgor, (ii) for
the attachment, perfection or maintenance of the security interest
created hereby (including the first priority nature of such
security interest) or (iii) for the exercise by the Agent of the
voting or other rights provided for in this Agreement or the
remedies in respect of the Collateral pursuant to this Agreement
(except as may be required in connection with any disposition of
any portion of the Collateral by laws affecting the offering and
sale of securities generally).</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(f)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">The
execution, delivery and performance of this Agreement will not
violate any provision of any Requirement of Law or contractual
obligation of the Pledgor and will not result in or require the
creation or imposition of any Lien on any of the properties or
revenues of the Pledgor pursuant to any Requirement of Law or
contractual obligation of the Pledgor (except for the Liens created
pursuant to this Agreement).</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(g)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">This
Agreement constitutes a legal, valid and binding obligation of the
Pledgor enforceable in accordance with its terms, except as
affected by bankruptcy, insolvency, fraudulent conveyance,
reorganization, moratorium and other similar laws relating to or
affecting the enforcement of creditors&#x2019; rights generally and
general equitable principles.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">5</font></div>
</div>
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 13px">(j)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
&#xA0; <font style="color: #000000">No litigation, investigation or
proceeding of or before any arbitrator or Governmental Authority is
pending or, to the knowledge of the Pledgor, threatened by or
against the Pledgor or against any of its properties or revenues
with respect to this Agreement or any of the transactions
contemplated hereby. The Pledged Equity constitutes the percentage
of the issued and outstanding Capital Stock of the Issuer indicated
on</font> <font style="text-decoration: underline; color: #000000">Schedule I</font>
<font style="color: #000000">hereto.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 13px">(k)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">All
Collateral consisting of certificated securities and instruments
will have been delivered to the Agent.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(l)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
&#xA0; &#xA0; <font style="color: #000000">There are no conditions
precedent to the effectiveness of this Agreement that have not been
satisfied or waived.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 13px">(m)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="color: #000000">The Pledgor has, independently and
without reliance upon the Agent or any other Secured Party and
based on such documents and information as it has deemed
appropriate, made its own credit analysis and decision to enter
into this Agreement.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 3px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 13px">(n)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">The
Pledgor is and, after giving effect to this Agreement, the
obligations being incurred in connection herewith and the other
transactions contemplated hereby, will be and will continue to be
Solvent.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 3px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">6.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
&#xA0;&#xA0; &#xA0;&#xA0; <font style="text-decoration: underline; color: #000000">Further
Assurances</font><font style="color: #000000">. (a) The Pledgor
agrees that at any time and from time to time, at the expense of
the Pledgor, the Pledgor will promptly execute and deliver all
further instruments and documents, and take all further action,
that may be necessary or desirable, or that the Agent may request,
in order to perfect and protect any security interest granted or
purported to be granted hereby or to enable the Agent to exercise
and enforce its rights and remedies hereunder with respect to any
Collateral. Without limiting the generality of the foregoing, the
Pledgor will promptly, (i) mark conspicuously each of its records
pertaining to the Collateral with a legend, in form and substance
satisfactory to the Agent, indicating that such Collateral is
subject to the security interest granted hereby; (ii) if any such
Collateral shall be evidenced by a promissory note or other
instrument, deliver and pledge to the Agent hereunder such
promissory note or instrument duly indorsed and accompanied by duly
executed instruments of transfer or assignment, all in form and
substance satisfactory to the Agent; (iii) execute and authenticate
and file such financing or continuation statements, or amendments
thereto and such other instruments or notices, as may be necessary
or desirable, or as the Agent may request, in order to perfect and
preserve the security interest granted or purported to be granted
by the Pledgor hereunder; (iv) deliver and pledge to the Agent, for
the benefit of the Secured Parties, all certificates representing
Collateral that constitutes certificated securities, accompanied by
undated stock or bond powers executed in blank; (v) take all action
necessary to ensure that the Agent has control of the Collateral
consisting of investment property as provided in Section 9-106 of
the UCC; and (vi) deliver to the Agent evidence that all other
action that the Agent may deem reasonably necessary or desirable to
perfect and protect the security interest created by the Pledgor
under this Agreement has been taken.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 3px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(b)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
&#xA0;&#xA0; <font style="color: #000000">The Pledgor hereby
authorizes the Agent to file one or more financing statements,
continuation statements, and assignments and amendments
thereto</font> in such form and in such offices as the Agent
determines appropriate to perfect or maintain the perfection of the
security interests of the Agent under this Agreement<font style="color: #000000">, including, without limitation, one or more
financing statements indicating that such financing statements
cover the Collateral, in each case without the signature of the
Pledgor. A photocopy or other reproduction of this Agreement or any
financing statement covering the Collateral or any part thereof
shall be sufficient as a financing statement where permitted by
law.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 3px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">7.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
&#xA0; &#xA0; &#xA0;&#xA0; <font style="text-decoration: underline; color: #000000">Voting Rights;
Dividends, Etc</font><font style="color: #000000">. (a) So long as
no Event of Default shall have occurred and be
continuing:</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">6</font></div>
</div>
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 3px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(i)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">The
Pledgor shall be entitled to exercise or refrain from exercising
any and all voting and other consensual rights pertaining to the
Collateral or any part thereof for any purpose not inconsistent
with the terms of this Agreement or the Note Purchase Agreement;
provided, however, that the Pledgor shall not exercise or refrain
from exercising any such right if such action would have a material
adverse effect on the value of the Collateral or any part
thereof.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 3px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(ii)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">The
Pledgor shall be entitled to receive and retain any and all
dividends and other distributions paid in respect of the Collateral
if and to the extent that the payment thereof is not otherwise
prohibited by the terms of this Agreement or any of the other Note
Purchase Documents, provided, however, that any and
all:</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 3px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 13px">(A)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">dividends
and other distributions paid or payable other than in cash in
respect of, and instruments and other property received, receivable
or otherwise distributed in respect of, or in exchange for, any
Collateral,</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 3px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 13px">(B)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">dividends
and other distributions paid or payable in cash in respect of any
Collateral in connection with a partial or total liquidation or
dissolution or in connection with a reduction of capital, capital
surplus or paid-in-surplus, and</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 3px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 13px">(C)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">cash
paid, payable or otherwise distributed in respect of principal of,
or in redemption of, or in exchange for, any Collateral, shall be,
and shall be forthwith delivered to the Agent to hold as,
Collateral and shall, if received by Pledgor, be received in trust
for the benefit of the Agent and the other Secured Parties, be
segregated from the other property or funds of Pledgor, and be
forthwith delivered to the Agent as Collateral in the same form as
so received (with any necessary endorsement or
assignment).</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 3px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(iii)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">The
Agent shall execute and deliver (or cause to be executed and
delivered) to the Pledgor all such proxies and other instruments as
the Pledgor may reasonably request for the purpose of enabling the
Pledgor to exercise the voting and other rights which it is
entitled to exercise pursuant to paragraph (i) above and to receive
the dividends and other distributions which it is authorized to
receive and retain pursuant to paragraph (ii)
above.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 3px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(b)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">If
an Event of Default shall have occurred and be
continuing:</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 3px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 13px">(i)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">All
rights of the Pledgor (x) to exercise or refrain from exercising
the voting and other consensual rights which it would otherwise be
entitled to exercise pursuant to Section 7(a)(i) shall, upon notice
to the Pledgor by the Agent, cease and (y) to receive the dividends
and other distributions that it would otherwise be authorized to
receive and retain pursuant to Section 7(a)(ii) shall automatically
cease, and all such rights shall thereupon become vested in the
Agent who shall thereupon have the sole right to exercise or
refrain from exercising such voting and other consensual rights and
to receive and hold as Collateral such dividends and other
distributions.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 3px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 13px">(ii)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">All
dividends and other distributions that are received by the Pledgor
contrary to the provisions of Section 7(b)(i) shall be received in
trust for the benefit of the Agent, shall be segregated from other
funds of the Pledgor and shall be forthwith paid over to the Agent
as Collateral in the same form as so received (with any necessary
indorsement or assignment).</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 3px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 13px">8.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline; color: #000000">Transfers
and Other Liens; Additional Shares; Etc</font><font style="color: #000000">. (a) The Pledgor agrees that it will not (i)
sell, transfer, assign (by operation of law or otherwise), exchange
or otherwise dispose of, or grant any option with respect to, any
of the Collateral, (ii) create or permit to exist any Lien, claim,
option or other charge or encumbrance upon or with respect to any
of the Collateral, except for the security interest under this
Agreement, or (iii) agree or consent to any amendment, modification
or waiver with respect to any of the
Collateral.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">7</font></div>
</div>
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<div id="hdr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 3px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(b)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">The
Pledgor agrees that it will (i) not, without the prior written
consent of the Agent, permit the Issuer to issue any Capital Stock
or other securities in addition to or in substitution for the
Pledged Equity, except to the Pledgor or Agent and (ii) pledge
hereunder, immediately upon its acquisition (directly or
indirectly) thereof, any and all additional shares of Capital Stock
or other securities of the Issuer.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 3px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 13px">9.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
&#xA0; &#xA0;&#xA0; <font style="text-decoration: underline; color: #000000">Agent Appointed
Attorney-in-Fact</font><font style="color: #000000">. The Pledgor
hereby appoints the Agent as the Pledgor&#x2019;s attorney-in-fact,
with full authority in the place and stead of the Pledgor and in
the name of the Pledgor or otherwise, from time to time in the
Agent&#x2019;s discretion to take any action and to execute any
instrument which the Agent may deem necessary or advisable to
accomplish the purposes of this Agreement (subject to the rights of
the Pledgor under Section 7), including, without limitation, to
receive, indorse and collect all instruments made payable to the
Pledgor representing any dividend or other distribution in respect
of the Collateral or any part thereof and to give full discharge
for the same.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 3px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 13px">10.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline; color: #000000">Agent
May Perform</font><font style="color: #000000">. If the Pledgor
fails to perform any agreement contained herein, the Agent may
itself perform, or cause performance of, such agreement, and the
expenses of the Agent incurred in connection therewith shall be
payable by the Pledgor under Section 14.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">11.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline; color: #000000">The
Agent&#x2019;s Duties</font><font style="color: #000000">. The
powers conferred on the Agent hereunder are solely to protect its
interest in the Collateral and shall not impose any duty upon it to
exercise any such powers. Except for the safe custody of any
Collateral in its possession and the accounting for moneys actually
received by it hereunder, the Agent shall have no duty as to any
Collateral, as to ascertaining or taking action with respect to
calls, conversions, exchanges, maturities, tenders or other matters
relative to any Collateral, whether or not the Agent or any Secured
Party has or is deemed to have knowledge of such matters, or as to
the taking of any necessary steps to preserve rights against any
parties or any other rights pertaining to any Collateral. The Agent
shall be deemed to have exercised reasonable care in the custody
and preservation of any Collateral in its possession if such
Collateral is accorded treatment substantially equal to that which
it accords its own property.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">12.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline; color: #000000">Remedies
upon Default</font><font style="color: #000000">. If any Event of
Default shall have occurred and be continuing:</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 13px">(a)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">The
Agent may exercise in respect of the Collateral, in addition to
other rights and remedies provided for herein or otherwise
available to it, all the rights and remedies of a secured party on
default under the UCC (whether or not the UCC applies to the
affected Collateral), and may also, without notice except as
specified below, sell the Collateral or any part thereof in one or
more parcels at public or private sale, at any exchange,
broker&#x2019;s board or at any of the Agent&#x2019;s offices or
elsewhere, for cash, on credit or for future delivery, and upon
such other terms as the Agent may deem commercially reasonable. The
Pledgor agrees that, to the extent notice of sale shall be required
by law, at least ten (10) days&#x2019; notice to the Pledgor of the
time and place of any public sale or the time after which any
private sale is to be made shall constitute reasonable
notification. The Agent shall not be obligated to make any sale of
Collateral regardless of notice of sale having been given. The
Agent may adjourn any public or private sale from time to time by
announcement at the time and place fixed therefor, and such sale
may, without further notice, be made at the time and place to which
it was so adjourned. To the extent permitted by applicable law, the
Pledgor waives all claims, damages and demands it may acquire
against the Agent or any other Secured Party arising out of the
exercise by them of any rights or remedies
hereunder.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">8</font></div>
</div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px">(b)&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;Any
cash held by the Agent as Collateral and all cash proceeds received
by the Agent in respect of any sale of, collection from, or other
realization upon all or any part of the Collateral may, in the
discretion of the Agent, be held by the Agent in a Collateral
Account as collateral for, and/or then or at any time thereafter be
applied (after payment of any amounts payable to the Agent pursuant
to Section 14) in whole or in part by the Agent for the benefit of
the Secured Parties against, all or any part of the Note
Indebtedness in such order and manner as the Agent may elect in its
sole discretion or as otherwise required under the Note Purchase
Agreement. Any surplus of such cash or cash proceeds held by the
Agent and remaining after payment in full of all Note Indebtedness
shall be paid over to the Pledgor or to whomsoever may be lawfully
entitled to receive such surplus.</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(c)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">The
Pledgor shall remain liable for any deficiency if the proceeds of
any sale or other disposition of Collateral are insufficient to pay
the</font> Note Indebtedness <font style="color: #000000">and the
fees and disbursements of any attorneys employed by the Agent or
any other Secured Party to collect such
deficiency.</font></font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">13.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline; color: #000000">Registration
Rights; Private Sales</font><font style="color: #000000">. (a) If
the Agent shall determine to exercise its right to sell all or any
of the Collateral pursuant to Section 12 the Pledgor agrees that,
upon request of the Agent, the Pledgor will, at its own
expense:</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 13px">(i)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
&#xA0; &#xA0; <font style="color: #000000">execute and deliver, and
cause the issuer of the Collateral contemplated to be sold and the
directors and officers thereof to execute and deliver, all such
instruments and documents, and do or cause to be done all such
other acts and things, as may be necessary or, in the opinion of
the Agent, advisable to register such Collateral under the
provisions of the Securities Act of 1933, as from time to time
amended (the &#x201C;</font><font style="text-decoration: underline; color: #000000">Securities
Act</font><font style="color: #000000">&#x201D;), and to cause the
registration statement relating thereto to become effective and to
remain effective for such period as prospectuses are required by
law to be furnished, and to make all amendments and supplements
thereto and to the related prospectus which, in the opinion of the
Agent, are necessary or advisable, all in conformity with the
requirements of the Securities Act and the rules and regulations of
the Securities and Exchange Commission applicable thereto</font>
<font style="font-family: Times New Roman">and</font> <font style="color: #000000">Pledgor agrees to cause Issuer to comply with the
provisions of the securities or &#x201C;Blue Sky&#x201D; laws of any
and all jurisdictions which the Agent shall designate and to make
available to its security holders, as soon as practicable, an
earnings statement (which need not be audited) which will satisfy
the provisions of Section 11(a) of the Securities Act;
and</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 13px">(ii)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">do
or cause to be done all such other acts and things as may be
necessary to make such sale of the Collateral or any part thereof
valid and binding and in compliance with applicable Requirements of
Law.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(b)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">The
Pledgor recognizes that the Agent may be unable to effect a public
sale of any or all the Collateral, by reason of certain
prohibitions contained in the Securities Act and applicable state
securities laws or otherwise, and may be compelled to resort to one
or more private sales thereof to a restricted group of purchasers
which will be obliged to agree, among other things, to acquire such
securities for their own account for investment and not with a view
to the distribution or resale thereof. The Pledgor acknowledges and
agrees that any such private sale may result in prices and other
terms less favorable than if such sale were a public sale and,
notwithstanding such circumstances, agrees that any such private
sale shall be deemed to have been made in a commercially reasonable
manner. The Agent shall be under no obligation to delay a sale of
any of the Collateral for the period of time necessary to permit
the issuer thereof to register such securities for public sale
under the Securities Act, or under applicable state securities
laws, even if such issuer would agree to do so.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">9</font></div>
</div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(c)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">The
Pledgor further agrees to use its best efforts to do or cause to be
done all such other acts as may be necessary to make such sale or
sales of all or any portion of the Collateral pursuant to this
Section valid and binding and in compliance with any and all other
applicable Requirements of Law. The Pledgor further agrees that a
breach of any of the covenants contained in this Section will cause
irreparable injury to the Agent and the Secured Parties, that the
Agent and the Secured Parties have no adequate remedy at law in
respect of such breach and, as a consequence, that each and every
covenant contained in this Section shall be specifically
enforceable against the Pledgor, and the Pledgor hereby waives and
agrees not to assert any defenses against an action for specific
performance of such covenants except for a defense that no Event of
Default has occurred under the Note Purchase
Agreement.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">14.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline; color: #000000">Indemnity
and Expenses</font><font style="color: #000000">. (a) The Pledgor
agrees to indemnify, defend and save and hold harmless each Secured
Party and each of their Related Parties (each, an
&#x201C;</font><font style="text-decoration: underline; color: #000000">Indemnified
Party</font><font style="color: #000000">&#x201D;) from and against,
and shall pay on demand, any and all claims, damages, losses,
liabilities and expenses (including, without limitation, the fees
and expenses of counsel) that may be incurred by or asserted or
awarded against any Indemnified Party, in each case arising out of
or in connection with or resulting from this Agreement (including,
without limitation, enforcement of this Agreement), except to the
extent such claim, damage, loss, liability or expense is found in a
final, non-appealable judgment by a court of competent jurisdiction
to have resulted from such Indemnified Party&#x2019;s gross
negligence or willful misconduct.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 3px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 13px">(b)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">The
Pledgor shall pay and save the Agent and the other Secured Parties
from any and all liabilities with respect to, or resulting from any
delay by Pledgor in paying, any and all stamp, excise, sales or
other taxes that may be payable or determined to be payable with
respect to any of the Collateral or in connection with any of the
transactions contemplated by this Agreement.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 3px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 13px">(c)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">The
Pledgor will upon demand pay to the Agent the amount of any and all
expenses, including, without limitation, the fees and expenses of
its counsel and of any experts and agents, that the Agent may incur
in connection with (i) the administration of this Agreement, (ii)
the custody or preservation of, or the sale of, collection from or
other realization upon, any of the Collateral, (iii) the exercise
or enforcement of any of the rights of the Agent or the other
Secured Parties hereunder or (iv) the failure by the Pledgor to
perform or observe any of the provisions
hereof.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 3px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 13px">(d)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;The
agreements in this Section 14 shall survive repayment of the Note
Indebtedness.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">15.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline; color: #000000">Security
Interest Absolute</font><font style="color: #000000">. The
obligations of the Pledgor under this Agreement are independent of
the</font> Note Indebtedness <font style="color: #000000">of the
other Obligors, and a separate action or actions may be brought and
prosecuted against the Pledgor to enforce this Agreement,
irrespective of whether any action is brought against any other
Obligor or whether any other Obligor is joined in any such action
or actions. All rights of the Agent and the security interests
hereunder, and all obligations of the Pledgor hereunder, shall be
absolute and unconditional irrespective of:</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(a)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">any
lack of validity or enforceability of any Note Purchase Document or
any other agreement or instrument relating thereto, any change in
the time, manner or place of payment of, or in any other term of,
all or any of the</font> Note Indebtedness<font style="color: #000000">, or any other amendment or waiver of or any
consent to any departure from the Note Purchase Agreement or any
other Note Purchase Document, including, without limitation, any
increase in the</font> Note Indebtedness <font style="color: #000000">resulting from the extension of additional credit
to the Company or otherwise;</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 13px">(b)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">any
taking, exchange, release or non-perfection of any other
collateral, or any taking, release or amendment or waiver of or
consent to departure from any guaranty, for all or any of
the</font> Note Indebtedness<font style="color: #000000">;</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">10</font></div>
</div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 13px">(c)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">any
manner of application of collateral, or proceeds thereof, to all or
any of the</font> Note Indebtedness<font style="color: #000000">,
or any manner of sale or other disposition of any collateral for
all or any part of the</font> Note Indebtedness <font style="color: #000000">or any other assets of any
Obligor;</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 13px">(d)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">any
change, restructuring or termination of the corporate or
organizational structure or existence any Obligor;
or</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 13px">(e)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">any
other circumstance which might otherwise constitute a defense
available to, or a discharge of, any Obligor or a third party
pledgor.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">16.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline; color: #000000">Amendments</font><font style="color: #000000">.
No amendment of any provision of this Agreement shall be effective
unless the same shall be in writing and signed by the Agent and the
Pledgor.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">17.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline; color: #000000">Waiver</font><font style="color: #000000">.
No waiver of any provision of this Agreement, and no consent to any
departure by the Pledgor herefrom, shall be effective unless the
same shall be in writing and signed by the Agent, and then such
waiver or consent shall be effective only in the specific instance
and for the specific purpose for which given. No failure on the
part of the Agent or any other Secured Party to exercise, and no
delay in exercising any right hereunder, shall operate as a waiver
thereof; nor shall any single or partial exercise of any such right
preclude any other or further exercise thereof or the exercise of
any other right.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">18.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline; color: #000000">Notices</font><font style="color: #000000">.
All notices, requests and demands and other communications to or
upon the Agent or any Pledgor hereunder shall be effected in the
manner provided for in Section 8.2 of the Note Purchase Agreement;
provided that any notice, request, demand or other communication to
the Pledgor shall be addressed to the Pledgor at its address on the
signature page to this Agreement. Notices sent by hand or overnight
courier service, or mailed by certified or registered mail, shall
be deemed to have been given when received; notices sent by
facsimile shall be deemed to have been given when sent (except
that, if not given during normal business hours for the recipient,
shall be deemed to have been given at the opening of business on
the next Business Day for the recipient).</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">19.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline; color: #000000">Continuing
Security Interest; Assignments</font><font style="color: #000000">.
This Agreement shall create a continuing security interest in the
Collateral and shall (i) remain in full force and effect until the
payment in full of the</font> Note Indebtedness<font style="color: #000000">, (ii) be binding upon the Pledgor, its successors
and assigns, and (iii) inure, together with the rights and remedies
of the Agent hereunder, to the benefit of, and be enforceable by,
the Agent, the Secured Parties and their respective successors,
transferees and assigns. Without limiting the generality of the
foregoing, any Noteholder may assign or otherwise transfer all or
any portion of its interest in the Note Purchase Agreement and the
other Note Purchase Documents (including, without limitation, all
or any portion of the obligations under the Note Purchase Agreement
held by it) to any other Person, and such other Person shall
thereupon become vested with all the benefits in respect thereof
granted to such Noteholder herein or otherwise, in each case as
provided in Section 8.7 of the Note Purchase Agreement. Upon the
indefeasible payment in full in cash of the</font> Note
Indebtedness<font style="color: #000000">, the security interest
granted hereby shall terminate and all rights to the Collateral
shall revert to the Pledgor. Upon any such termination, the Agent
will, at the Pledgor&#x2019;s expense, return to the Pledgor such of
the Collateral as shall not have been sold or otherwise applied
pursuant to the terms hereof and execute and deliver to the Pledgor
such documents as the Pledgor shall reasonably request to evidence
such termination.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">20.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline; color: #000000">Authority
of Agent</font><font style="color: #000000">. The Pledgor
acknowledges that the rights and responsibilities of the Agent
under this Agreement with respect to any action taken by the Agent
or the exercise or non-exercise by the Agent of any option, voting
right, request, judgment or other right or remedy provided for
herein or resulting or arising out of this Agreement shall, as
between the Agent and the other Secured Parties, be governed by the
Note Purchase Agreement and by such other agreements with respect
thereto as may exist from time to time among them, but, as between
the Agent and the Pledgor, the Agent shall be conclusively presumed
to be acting as agent for Secured Parties with full and valid
authority so to act or refrain from acting, and neither the Pledgor
nor the Issuer shall be under any obligation, or entitlement, to
make any inquiry respect such authority.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">11</font></div>
</div>
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<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">21.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline; color: #000000">Execution
in Counterparts</font><font style="color: #000000">. This Agreement
may be executed in any number of counterparts, each of which when
so executed shall be deemed to be an original and all of which
taken together shall constitute one and the same agreement.
Delivery of an executed counterpart of a signature page to this
Agreement by facsimile or other electronic means shall be effective
as delivery of an original executed counterpart of this
Agreement.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">22.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline; color: #000000">Severability</font><font style="color: #000000">.</font>&#xA0;&#xA0;
<font style="color: #000000">Any provision of this Agreement which
is prohibited or unenforceable in any jurisdiction shall, as to
such jurisdiction, be ineffective to the extent of such prohibition
or unenforceability without invalidating the remaining provisions
hereof, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such
provision in any other jurisdiction.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">23.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline; color: #000000">Section
Headings</font><font style="color: #000000">. The Section headings
used in this Agreement are for convenience of reference only and
are not to affect the construction hereof or be taken into
consideration in the interpretation hereof.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">24.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline; color: #000000">Irrevocable
Authorization and Instruction to Issuer</font><font style="color: #000000">. The Pledgor hereby authorizes and instructs the
Issuer to comply with any instruction received by it from the Agent
in writing that (a) states that an Event of Default or Default has
occurred and (b) is in accordance with the terms of this Agreement,
without any other or further instructions from the Pledgor, and the
Pledgor agrees that the Issuer shall be fully protected in so
complying. The Pledgor shall cause the Issuer to execute and
deliver to the Agent an Acknowledgment and Consent in the form
attached as Exhibit A to this Agreement.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">25.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline; color: #000000">Submission
to Jurisdiction; Waivers</font><font style="color: #000000">.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 3px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 13px">(a)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="font-style: italic; color: #000000">Jurisdiction</font><font style="color: #000000">.
THE PLEDGOR IRREVOCABLY AND UNCONDITIONALLY AGREES THAT IT WILL NOT
COMMENCE ANY ACTION, LITIGATION OR PROCEEDING OF ANY KIND OR
DESCRIPTION, WHETHER IN LAW OR EQUITY, WHETHER IN CONTRACT OR IN
TORT OR OTHERWISE, AGAINST ANY SECURED PARTY OR ANY RELATED PARTY
OF ANY SECURED PARTY IN ANY WAY RELATING TO THIS AGREEMENT OR ANY
OTHER NOTE PURCHASE DOCUMENT OR THE TRANSACTIONS RELATING HERETO OR
THERETO, IN ANY FORUM OTHER THAN THE COURTS OF THE STATE OF NEW
YORK SITTING IN NEW YORK COUNTY AND OF THE UNITED STATES DISTRICT
COURT OF THE SOUTHERN DISTRICT OF NEW YORK, AND ANY APPELLATE COURT
FROM ANY THEREOF, AND EACH OF THE PARTIES HERETO IRREVOCABLY AND
UNCONDITIONALLY SUBMITS TO THE JURISDICTION OF SUCH COURTS AND
AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION, LITIGATION OR
PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE COURT
OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH
FEDERAL COURT. EACH OF THE PARTIES HERETO AGREES THAT A FINAL
JUDGMENT IN ANY SUCH ACTION, LITIGATION OR PROCEEDING SHALL BE
CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON
THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. NOTHING IN
THIS AGREEMENT OR IN ANY OTHER NOTE PURCHASE DOCUMENT SHALL AFFECT
ANY RIGHT THAT ANY SECURED PARTY MAY OTHERWISE HAVE TO BRING ANY
ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER NOTE
PURCHASE DOCUMENT AGAINST THE PLEDGOR OR ANY OTHER OBLIGOR OR ITS
PROPERTIES IN THE COURTS OF ANY JURISDICTION.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">12</font></div>
</div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 3px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 13px">(b)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="font-style: italic; color: #000000">Waiver
of Venue</font><font style="color: #000000">. The Pledgor
irrevocably and unconditionally waives, to the fullest extent
permitted by applicable law, any objection that it may now or
hereafter have to the laying of venue of any action or proceeding
arising out of or relating to this Agreement in any court referred
to in paragraph (a) of this Section. Each of the parties hereto
hereby irrevocably waives, to the fullest extent permitted by
applicable law, the defense of an inconvenient forum to the
maintenance of such action or proceeding in any such
court.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 3px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 13px">(c)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="font-style: italic; color: #000000">Service
of Process</font><font style="color: #000000">. The parties
irrevocably consent to service of process in the manner provided
for notices in Section 18. Nothing in this Agreement will affect
the right of any party hereto to serve process in any other manner
permitted by applicable law.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 3px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 13px">(d)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="font-style: italic; color: #000000">Waiver</font><font style="color: #000000">.
The Pledgor waives, to the maximum extent not prohibited by law,
any right it may have to claim or recover in any legal action or
proceeding referred to in this Section any special, exemplary
punitive or consequential damages.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">26.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline; color: #000000">Acknowledgments</font><font style="color: #000000">.
The Pledgor acknowledges that:</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 3px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 13px">(a)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">it
has been advised by counsel in the negotiation, execution and
delivery of this Agreement;</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 3px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000; font-size: 13px">(b)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">neither
the Agent nor any other Secured Party has any fiduciary
relationship with or duty to the Pledgor arising out of or in
connection with this Agreement or any of the other Note Purchase
Documents, and the relationship between Agent and other Secured
Parties, on one hand, and the Pledgor, on the other hand, in
connection herewith or therewith is solely that of debtor and
creditor; and</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">(c)</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="color: #000000">no
joint venture is created hereby or by the other Note Purchase
Documents or otherwise exists by virtue of the transactions
contemplated hereby among Secured Parties or among Pledgor and the
Secured Parties.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">27.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline; color: #000000">Governing
Law</font><font style="color: #000000">. THIS AGREEMENT AND THE
RIGHTS AND OBLIGATIONS HEREUNDER OF THE PLEDGOR, THE ISSUER AND THE
SECURED PARTIES AND ANY CLAIMS, CONTROVERSY, DISPUTE OR CAUSE OF
ACTION (WHETHER IN CONTRACT OR TORT OR OTHERWISE) BASED UPON,
ARISING OUT OF OR RELATING TO THIS AGREEMENT AND THE TRANSACTIONS
CONTEMPLATED HEREBY SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAW OF THE STATE OF NEW
YORK.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-weight: bold; font-family: Times New Roman; font-size: 13px"><font style="color: #000000">
28.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline; color: #000000">WAIVER
OF JURY TRIAL</font><font style="color: #000000">. PLEDGOR WAIVES,
TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY
HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR
INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY
TRANSACTION CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR
ANY OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO
REPRESENTATIVE, AGENT OR ATTORNEY OF ANY SECURED PARTY HAS
REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH SECURED PARTY WOULD
NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING
WAIVER AND (B) ACKNOWLEDGES THAT THE SECURED PARTIES HERETO HAVE
BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS,
THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS
SECTION.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
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<div id="ftr">
<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div id="pn" style="text-align: center"><font style="font-family: Times New Roman; font-size: 13px">13</font></div>
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<div style="text-align: left; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
</div>
</div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">29.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline; color: #000000">INTEGRATION</font><font style="color: #000000">.
THIS WRITTEN AGREEMENT REPRESENTS THE FINAL AGREEMENT OF THE
PARTIES WITH RESPECT TO THE SUBJECT MATTER HEREOF, AND MAY NOT BE
CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR SUBSEQUENT
ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO PROMISES,
UNDERTAKINGS, REPRESENTATIONS OR WARRANTIES BY THE AGENT OR ANY
OTHER SECURED PARTY RELATIVE TO THE SUBJECT MATTER HEREOF NOT
EXPRESSLY SET FORTH OR REFERRED TO HEREIN. THERE ARE NO UNWRITTEN
ORAL AGREEMENTS AMONG THE PARTIES.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">30.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline">Time
is of the Essence</font>. Time is of the essence of this
Agreement.</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: left; margin-left: 0px; margin-right: 0px; text-indent: 48px">
<font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">31.</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;<font style="text-decoration: underline; color: #000000">Survival</font><font style="color: #000000">.
All covenants, agreements, representations and warranties made by
the Pledgor herein and in the certificates or other instruments
delivered in connection with or pursuant to this Agreement shall be
considered to have been relied upon by the Secured Parties and
shall survive the execution and delivery of this Agreement and the
making of the Loans, regardless of any investigation made by any
Secured Party or on its behalf and notwithstanding that any Secured
Party may have had notice or knowledge of any Default or incorrect
representation or warranty at the time any credit is extended
hereunder, and shall continue in full force and effect as long as
the principal of or any accrued interest on the Loans or any
other</font> Note Indebtedness is <font style="color: #000000">outstanding and unpaid.</font></font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="color: #000000; font-family: Times New Roman; font-size: 13px">
[Signature Page Follows]</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 0px">
<font style="font-family: Times New Roman; font-size: 13px">&#xA0;</font></div>
<div><font style="font-family: Times New Roman; font-size: 10">&#xA0;</font></div>
<div id="pgbrk" style="width: 100%; margin-left: 0px; text-indent: 0px; margin-right: 0px">
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<font style="font-family: Times New Roman; font-size: 13px">IN
WITNESS WHEREOF, each of the undersigned has caused this Agreement
to be duly executed and delivered as of the date first above
written.</font></div>
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ADDRESS FOR NOTICES TO</font></font></font></div>
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<font style="font-family: Times New Roman; font-size: 13px">AE
ADVANCED FUELS, INC.</font></div>
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PLEDGOR:</font></font></font></div>
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<font style="font-family: Times New Roman; font-size: 13px">c/o
Aemetis, Inc.</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">20400
Stevens Creek Blvd, Suite 700</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Cupertino,
CA 95014</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">By:&#xA0;&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline"><font style="font-size: 13px; text-decoration: underline;">/s/ Eric A.
McAfee</font>&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;</font></font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Attn:
Chief Executive Officer</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Name:
Eric McAfee</font></div>
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<font style="font-family: Times New Roman; font-size: 13px">Title:
CEO</font></div>
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<font style="font-family: Times New Roman; font-size: 13px"><font style="font-family: Times New Roman; font-size: 13px"><font style="text-decoration: underline">AGENT</font>:</font>
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<font style="font-family: Times New Roman; font-size: 13px"><font style="font-family: Times New Roman; font-size: 13px">THIRD EYE CAPITAL
CORPORATION</font> &#xA0;</font></div>
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<font style="font-family: Times New Roman; font-size: 13px"><font style="font-family: Times New Roman; font-size: 13px">By:&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;&#xA0;
<font style="text-decoration: underline; font-size: 13px">/s/ Arif
N. Bhalwani</font></font> &#xA0;</font></div>
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&#xA0; &#xA0; &#xA0; &#xA0; &#xA0;&#xA0; <font style="font-family: Times New Roman; font-size: 13px">Name: Arif N.
Bhalwani</font></font></div>
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&#xA0; &#xA0; &#xA0; &#xA0; &#xA0;&#xA0; <font style="font-family: Times New Roman; font-size: 13px">Title: Managing
Director</font></font></div>
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<font style="font-family: Times New Roman; font-size: 13px">[Acknowledgement
and Consent &#x2013; Pledge Agreement]</font></div>
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