Termination Agreement Between First National Bank of Omaha and Cardinal Ethanol, LLC (Interest Rate Swap)

Contract Categories: Business Operations › Termination Agreements
Summary

First National Bank of Omaha and Cardinal Ethanol, LLC have agreed to terminate their interest rate swap transaction, originally established in 2006. Cardinal Ethanol will pay a termination fee of $662,597 to First National Bank of Omaha by October 10, 2013. This agreement only ends the specified swap transaction; any other transactions under their existing master agreement remain active.

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EX-10.39 2 a1039-terminationagreement.htm AGREEMENT 10.39 - Termination Agreement with FNBO


First National Bank
Omaha



TERMINATION AGREEMENT
BETWEEN FIRST NATIONAL BANK OF OMAHA
AND CARDINAL ETHANOL, LLC
dated as of October 8,2013




The parties hereby terminate the interest rate swap transaction ("Swap Transaction"), evidenced by the Confirmation dated as of December 19, 2006, Reference Number 21265, with an initial Notional Amount of $41,500,000.00, executed by the parties, together with their obligations with respect to such Swap Transaction under the ISDA Master Agreement dated as of December 19, 2006 (the "Master Agreement") between them. In consideration of such termination, the following Termination Fee shall be payable.


Termination Fee:        $662,597.00
Payable by:        Cardinal Ethanol, LLC
Due Date:        October 10, 2013
Payable to:        First National Bank of Omaha



Any other Transactions currently outstanding under the Master Agreement shall remain in full force and effect. IN WITNESS WHEREOF, the parties have executed this Termination Agreement effective as of the date hereof.


 
First National Bank of Omaha
 
 
 
By: /s/ Jeremy Reineke
 
Name: Jeremy Reineke
 
Title: Vice President
 
 
 
Cardinal Ethanol, LLC
 
 
 
By: /s/ William Dartt
 
Name: William Dartt
 
Title: CFO