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EX-10.1 - EXHIBIT 10.1 - Lincolnway Energy, LLCex10_1.htm

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
 Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (date of earliest event reported): July 3, 2018 (June 28, 2018)

LINCOLNWAY ENERGY, LLC
(Exact Name of registrant as specified in its charter)
 
IOWA
 
000-51764
 
20-1118105
(State or Other Jurisdiction of Incorporation)
 
(Commission File Number)
 
(IRS Employer Identification No.)
 
 59511 W. Lincoln Highway, Nevada, Iowa  
 
50201
(Address of Principal Executive Offices)
 
(Zip Code)

 (515) 232-1010
(Registrant’s Telephone Number, Including Area Code)
 
(Former Name or Former Address, if Changed Since Last Report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
 


Item 1.01
Entry into a Material Definitive Agreement.

Effective June 28, 2018, Lincolnway Energy, LLC (“Lincolnway”) entered into an amendment (the “Amendment”) to its Ethanol Marketing Agreement (the “Ethanol Agreement”) with Eco-Energy, LLC (“Eco-Energy”) dated October 2, 2015.  Lincolnway has agreed to continue to sell Eco-Energy all of the ethanol produced by Lincolnway, and Eco-Energy has agreed to continue to purchase the same, provided, however, Lincolnway continues to reserve the right to sell up to 5 million gallons per year, or any gallons over 60 million gallons per year, as E85 sales direct marketed product.  The Amendment modifies the Ethanol Agreement to amend the definition of “Marketing Fee,” to extend the initial term until September 30, 2020, to amend the contact information for Eco-Energy, and to add a termination provision whereby Lincolnway shall be entitled to terminate the Ethanol Agreement upon sixty (60) days advance written notice if Eco-Energy fails to represent a minimum of nine (9) ethanol production facilities in its ethanol marketing program.

The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.

Item 9.01.
Financial Statements and Exhibits

(d)
Exhibits

Exhibit
Number
 
Description
     
 
Amendment No. 1 Ethanol Marketing Agreement Between Lincolnway Energy, LLC and Eco-Energy, LLC
 

*
Material has been omitted pursuant to a request for confidential treatment and such material has been filed separately with the Securities and Exchange Commission
 

SIGNATURES

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.

  LINCOLNWAY ENERGY, LLC
     
  By: /s/ Eric Hakmiller
Date: July 3, 2018
  Eric Hakmiller
    President and Chief Executive Officer