Exhibit 99.1
THIRD EXTENSION TO
MANAGEMENT AND OPERATIONAL SERVICES AGREEMENT
This Third Extension to Management and Operational Services Agreement (“Third Extension”) is entered into this 28th day of May, 2010, by and between Western Iowa Energy, LLC (“Western Iowa Energy”), Renewable Energy Group, Inc. (“REG Group”), REG Services Group, LLC (“REG Services”), and REG Marketing & Logistics Group, LLC (“REG Logistics”) (REG Group, REG Services, and REG Logistics are hereinafter referred to as “REG”).
WHEREAS, on or about May 9, 2005, Western Iowa Energy and West Central Cooperative (“WCC”) entered into a Management and Operational Services Agreement;
WHEREAS, WCC assigned its rights and obligations under the Management and Operational Services Agreement to REG Group on September 21, 2006;
WHEREAS, on or about November 22, 2006, REG Group and Western Iowa Energy entered into a “First Amendment to Management and Operational Services Agreement” (the agreement as revised herein the “MOSA”);
WHEREAS, REG Group has utilized REG Services and REG Logistics in meeting the obligations of REG Group in providing certain sales, marketing and logistical services to Western Iowa Energy under the MOSA;
WHEREAS, on or about April 3, 2009, REG provided written notification to Western Iowa Energy under paragraph 5 of the MOSA of the termination of the MOSA to be effective on April 3, 2010;
WHEREAS, on or about March 16, 2010, REG and Western Iowa Energy entered into an “Extension and Second Amendment to Management and Operational Services Agreement” (the MOSA as further amended herein the “Amended MOSA”), and extended the term through May 3, 2010;
WHEREAS, on or about May 2, 2010, REG and Western Iowa Energy entered into an “Second Extension to Management and Operational Services Agreement” (the MOSA as further amended herein the “Amended MOSA”), and extended the term through May 31, 2010;
WHEREAS, the parties wish to extend the term of the Amended MOSA; and
NOW, THEREFORE, in consideration of the following covenants, promises and undertakings, and for good and valuation consideration, the receipt and sufficiency of which is hereby acknowledged, the parties mutually agree to extend the Amended MOSA as follows:
| | 1. | | Extension. The parties hereto agree to extend the term of the Amended MOSA so as to provide that the Amended MOSA continue through and terminate after June 11th, 2010. |
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