Exhibit 10.30

 

 

CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT, MARKED BY BRACKETED
ASTERISKS [***], HAS BEEN OMITTED AND FILED SEPARATELY WITH THE SECURITIES AND
EXCHANGE COMMISSION PURSUANT TO RULE 24B-2 OF THE SECURITIES EXCHANGE ACT OF
1934, AS AMENDED.

 

 

SCHEDULES TO THE CREDIT AGREEMENT, DATED NOVEMBER 18, 2015, AMONG THE INVENTURE
FOODS, INC., BSP AGENCY, LLC, AND THE OTHER LENDERS AND BORROWERS PARTY THERETO

 

Schedule A-1

Agent’s Account

 

U.S. Bank National Association
Inventure Foods, Inc.
Administration Details

 

Contacts:

Administrative

[***]

Phone: [***]

[***]

[***]

Phone: [***]

[***]

Account Management

[***]

Phone: [***]

[***]

[***]

Phone: [***]

[***]

 

Wire/ACH Instructions:

 

 

Bank:

 

US Bank NA

ABA:

 

[***]

Account Name:

 

Corporate Trust Agency Services

DDA:

 

[***]

Reference:

 

See below

F/F/C:

 

Inventure Foods, Inc. Agency

 

 

[***]

 

--------------------------------------------------------------------------------

[***] Certain information on this page has been omitted and filed separately
with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions.

 

--------------------------------------------------------------------------------

 

Schedule A-2

 

Authorized Persons

 

1.              Terry McDaniel

2.              Steve Weinberger

3.              Tara Kreizenbeck

 

--------------------------------------------------------------------------------

 

Schedule C-1

 

Commitments

 

Lender

 

Term Commitment

 

Providence Debt Fund III L.P.

 

$

55,587,000

 

PECM Strategic Funding LP

 

$

19,121,000

 

Benefit Street Partners Capital Opportunity Fund SPV LLC

 

$

4,632,000

 

Benefit Street Partners SMA-C LP

 

$

4,660,000

 

Griffin-Benefit Street Partners BDC Corp.

 

$

1,000,000

 

TOTAL:

 

$

85,000,000

 

 

--------------------------------------------------------------------------------

 

Schedule D-1

 

Designated Account

 

Account Name:  Inventure Foods Inc

Email Contact:  [***]

Account #:  [***]

Routing - ABA #:  [***]

SWIFT:  [***]

 

Bank Name:  U.S. Bank National Association

Bank Address:  101 N First Avenue, Phoenix AZ  85003

 

--------------------------------------------------------------------------------

[***] Certain information on this page has been omitted and filed separately
with the Securities and Exchange Commission. Confidential treatment has been
requested with respect to the omitted portions.

 

--------------------------------------------------------------------------------

 

Schedule E-1

 

Location of Inventory

 

(a)           Owned properties containing inventory

 

 

 

Entity of Record

 

Address

1.

 

La Cometa Properties, Inc.

 

3500 S. La Cometa Drive
Goodyear, AZ 85338

2.

 

Fresh Frozen Foods, Inc.

 

1814 Washington Street
Jefferson, GA 30549

3.

 

Fresh Frozen Foods, Inc.

 

600 Cassidy Road
Thomasville, GA 31792

4.

 

La Cometa Properties, Inc.

 

705 W. Dustman Road
Bluffton, IN 46714

 

(b)           Leased properties containing inventory

 

 

 

Tenant

 

Address

1.

 

Inventure Foods, Inc.

 

5415 E. High Street, Suite 350
Phoenix, AZ 85054

2.

 

Inventure Foods, Inc.

 

2994 82nd Avenue NE
Salem, OR 97305

3.

 

Inventure Foods Inc.

 

Leased Agricultural Property - Approximately 42 acres of land situated in
Whatcom County, WA

4.

 

Rader Farms, Inc.

 

Leased Agricultural Property - Approximately 102.6 acres of land situated at
6757 Nooksack Road, Everson, Whatcom County, WA

5.

 

Rader Farms, Inc.

 

Leased Agricultural Property - Approximately 696 acres of land situated in
Whatcom County, WA

6.

 

Inventure Foods, Inc.

 

1955 W. Lancaster Street I
Bluffton, IN 46714

7.

 

Inventure Foods, Inc.

 

101 N. 104th Avenue
Tolleson, AZ 85353

8.

 

Inventure Foods, Inc.

 

3001 N. 9th Avenue
Pensacola, FL 32503

9.

 

Rader Farms, Inc.

 

500 Orchard Drive
Bellingham, WA 98226

10.

 

Willamette Valley Fruit Company

 

1440 Salem Industrial Drive NE
Salem, OR 97301

 

--------------------------------------------------------------------------------

 

(c)           Inventory stored pursuant to bailment, etc.

 

 

 

Inventure Foods Entity

 

Address of Storage Facility

1.

 

Inventure Foods, Inc.

 

2120 E Washington Boulevard Suite B
Fort Wayne, IN 46803

2.

 

Inventure Foods, Inc.

 

1025 Osage Street
Fort Wayne, IN 46808

3.

 

Inventure Foods, Inc.

 

1150 North Main Street
Bluffton, IN 46714

4.

 

Inventure Foods, Inc.

 

1126 Raymond Bland Road
Glennville, GA 30427

5.

 

Willamette Valley Fruit Company

 

4735 Brooklake Road NE
Salem, OR 97305

6.

 

Willamette Valley Fruit Company

 

4095 Portland Road NE
Salem, OR 97301

7.

 

Willamette Valley Fruit Company

 

1440 Silverton Road
Woodburn, OR 97071

8.

 

Willamette Valley Fruit Company

 

1440 Salem Industrial Drive NE
Salem, OR 97301

9.

 

Willamette Valley Fruit Company

 

17400 NE Sacramento Street
Portland, OR 97230

10.

 

Willamette Valley Fruit Company

 

4124 24th Avenue
Forest Grove, OR 97116

11.

 

Willamette Valley Fruit Company

 

19450 NE San Rafael Street
Portland, OR 97230

12.

 

Willamette Valley Fruit Company

 

3815 Marion Street SE
Albany, OR 97322

13.

 

Willamette Valley Fruit Company

 

310 S Seneca Road
Eugene, OR 97402

14.

 

Inventure Foods, Inc.

 

690 Heinberg Street
Pensacola, FL 32502

15.

 

Rader Farms, Inc.

 

2201 North Wind Parkway
Hobart, IN 46342

16.

 

Rader Farms, Inc.

 

600 Orchard Drive
Bellingham, WA 98225

17.

 

Rader Farms, Inc.

 

3001 Athens Highway,
Gainesville, GA 30507

18.

 

Rader Farms, Inc.

 

4735 Brooklake Road NE
Salem, OR 97305

19.

 

Rader Farms, Inc.

 

31785 Marshall Road, R R #5
Abbotsford, BC V2T 5Z8

20.

 

Rader Farms, Inc.

 

406 2nd Street, P.O. Box 709
Lynden, WA 98264

21.

 

Rader Farms, Inc.

 

11850 Center Road
San Antonio, TX 78223

22.

 

Fresh Frozen Foods, Inc.

 

3001 Athens Highway,
Gainesville, GA 30507

23.

 

Fresh Frozen Foods, Inc.

 

4231 Profit Drive
San Antonio, TX 78219

24.

 

Fresh Frozen Foods, Inc.

 

121 Roseway Drive
Thomasville, GA 31792

 

--------------------------------------------------------------------------------

 

 

 

Inventure Foods Entity

 

Address of Storage Facility

25.

 

Fresh Frozen Foods, Inc.

 

1161 Candler Road
Gainesville, GA 30507
and
3801 Cornelia Highway
Lula, GA 30554

26.

 

Fresh Frozen Foods, Inc.

 

200 North FM 509
Harlingen, TX 78550

27.

 

Rader Farms, Inc.

 

279 Marquette Drive
Bolingbrook, Il 60440

28.

 

Rader Farms, Inc.

 

Farmland owned by Ebe Farms located in Whatcom County, Washington, pursuant to
that certain Crop Rotation Agreement between Rader Farms, Inc. and Ebe Farms
dated February 6, 2013.

 

--------------------------------------------------------------------------------

 

Schedule P-1

 

Permitted Investments

 

None.

 

--------------------------------------------------------------------------------

 

Schedule P-2

 

Permitted Liens

 

 

 

Debtor

 

Jurisdiction

 

Secured Party

 

Lien Type

 

Filing Info

 

Collateral Description

1.

 

Inventure Foods, Inc.

 

Arizona Secretary of State

 

H&E Equipment Services Inc.
11100 Mead Road, Suite 200
Baton Rouge, LA 70816

 

Standard

 

2012-169-0621-0
Filed April 27, 2012

 

One 2007 Genie GS1930 Scissorlift s/n GS3007B-87906

2.

 

Inventure Foods, Inc.

 

Arizona Secretary of State

 

H&E Equipment Services Inc.
11100 Mead Road, Suite 200
Baton Rouge, LA 70816

 

Standard

 

2013-172-5515-8
Filed January 14, 2013

 

One 2007 Genie GS1930 Scissorlift (GS3007A-91794)

3.

 

Fresh Frozen Foods, Inc.

 

Delaware Secretary of State

 

Wells Fargo Bank, NA
300 Tri-State International, Suite 400
Lincolnshire, IL 60069

 

Standard

 

201252823358
Filed June 30, 2015

 

Nissan forklift SCX30N (1S1-9X0446-449)

4.

 

Inventure Foods, Inc.

 

Delaware Secretary of State

 

Toyota Motor Credit Corporation
PO Box 3457
Torrance, CA 90510

 

Standard

 

20131214049
Filed March 21, 2013

 

Toyota forklift model #7FBCU15 (62830), as equipped

5.

 

Inventure Foods, Inc.

 

Delaware Secretary of State

 

Toyota Motor Credit Corporation
PO Box 3457
Torrance, CA 90510

 

Standard

 

20134385838
Filed November 7, 2013

 

Toyota forklifts model #7FBEU18 (26111, 26090, 26095, 26098, 26104, 26111,
261180), as equipped

6.

 

Inventure Foods, Inc.

 

Delaware Secretary of State

 

Banc of America Leasing & Capital, LLC
2059 Northlake Parkway, 3rd Floor North
Tucker, GA 30084

 

Standard

 

20153654067
Filed August 20, 2015

 

New kettle equipment

7.

 

Poore Brothers — Bluffton, Inc.

 

Delaware Secretary of State

 

Toyota Motor Credit Corporation
PO Box 3457
Torrance, CA 90510

 

Standard

 

20113598185
Filed September 20, 2011

 

Toyota lift truck model #SBRU18 (36474), as equipped

 

--------------------------------------------------------------------------------

 

8.

 

Rader Farms, Inc.

 

Delaware Secretary of State

 

Farm Credit Leasing Services Corporation
600 Highway 169 South, Suite 300
Minneapolis, MN 55426

 

Standard

 

20104258111
Filed on December 3, 2010

 

New Holland T4050F Tractor 80 PTO (XAJD00519)

9.

 

Rader Farms, Inc.

 

Delaware Secretary of State

 

Farm Credit Leasing Services Corporation
600 Highway 169 South, Suite 300
Minneapolis, MN 55426

 

Standard

 

20114266188
Filed on November 4, 2011

 

2011 Korvan 7420 Blueberry Harvester (542860600075)

10.

 

Rader Farms, Inc.

 

Delaware Secretary of State

 

Farm Credit Leasing Services Corporation
600 Highway 169 South, Suite 300
Minneapolis, MN 55426

 

Standard

 

20114284207
Filed on November 7, 2011

 

2001 John Deere 7930 Tractor Row Crop (1RW7930DH6D036080)

11.

 

Rader Farms, Inc.

 

Delaware Secretary of State

 

Farm Credit Leasing Services Corporation
600 Highway 169 South, Suite 300
Minneapolis, MN 55426

 

Standard

 

20114285121
Filed on November 7, 2011

 

2911 Yanmar T80B Tractor Row Crop (010181)

12.

 

Rader Farms, Inc.

 

Delaware Secretary of State

 

Farm Credit Leasing Services Corporation
600 Highway 169 South, Suite 300
Minneapolis, MN 55426

 

Standard

 

20130359977
Filed on January 28, 2013

 

2012 Oxbo 7420 Blueberry Harvester (542870600111)

13.

 

Rader Farms, Inc., Willamette Valley Fruit Company

 

Delaware Secretary of State

 

Banc of America Leasing & Capital, LLC
2059 Northlake Parkway, 3rd Floor North
Tucker, GA 30084

 

Standard

 

20143450095
Filed on August 27, 2014

 

Octofrost, Model 9/2 Tunnel Expansion Project, including all listed equipment,
components, and accessories

14.

 

Rader Farms, Inc., Willamette Valley Fruit Company

 

Delaware Secretary of State

 

Banc of America Leasing & Capital, LLC
2059 Northlake Parkway, 3rd Floor North
Tucker, GA 30084

 

Standard

 

20143450160
Filed on August 27, 2014

 

Octofrost, Model 9/2 Tunnel Expansion Project, including all listed equipment,
components, and accessories

 

--------------------------------------------------------------------------------

 

15.

 

The Inventure Group, Inc.

 

Delaware Secretary of State

 

Air Liquide Industrial U.S. LP
1230 W Washington, Suite 212
Tempe, AZ 85281

 

Standard

 

20141895390
Filed on May 14, 2014

 

Floxal membrane unit, membrane skid, sullair compressor, dryer, vaporizer

16.

 

Inventure Foods, Inc.

 

Delaware Secretary of State

 

Tamco Capital Corporation
800 Walnut Street, MAC N0005-044
Des Moines, IA 50309

 

Standard

 

20155075212
Filed on November 2, 2015

 

Telephone equipment and licenses located in Goodyear, AZ and in Phoenix, AZ

 

--------------------------------------------------------------------------------

 

Schedule R-1

 

Real Property Collateral

 

 

 

Entity of Record

 

Address

 

Legal Description

1.

 

La Cometa Properties, Inc.

 

3500 S. La Cometa Drive
Goodyear, AZ 85338

 

See Exhibit R-1

2.

 

Fresh Frozen Foods, Inc.

 

1814 Washington Street
Jefferson, GA 30549

 

See Exhibit R-2

3.

 

Fresh Frozen Foods, Inc.

 

600 Cassidy Road
Thomasville, GA 31792

 

See Exhibit R-3

4.

 

La Cometa Properties, Inc.

 

705 W. Dustman Road
Bluffton, IN 46714

 

See Exhibit R-4

 

--------------------------------------------------------------------------------

 

Schedule 4.1(b)

 

Capitalization of Borrowers

 

(i) Parent Borrower

 

Type of Equity Interest

 

Issued & Outstanding
(as of November 17, 2015

 

Preferred Stock, par value $100 per share

 

None

 

Common Stock, par value $0.01 per share

 

19,609,788

 

Options

 

645,652

 

Restricted Stock Units

 

302,113

 

Restricted Stock Awards

 

88,166

 

 

(ii) Other Borrowers

 

Borrower

 

Type of Equity Interest

 

Issued &
Outstanding

 

La Cometa Properties, Inc.

 

Common Stock, no par value

 

1,000

 

Poore Brothers – Bluffton, LLC

 

LLC Interest

 

N/A

 

Tejas PB Distributing, Inc.

 

Common Stock, no par value

 

1,000

 

Boulder Natural Foods, Inc.

 

Common Stock, par value $0.01 per share

 

1,000

 

BN Foods, Inc.

 

Common Stock, no par value

 

1,000

 

Rader Farms, Inc.

 

Common Stock, par value $0.001 per share

 

1,000

 

Willamette Valley Fruit Company

 

Common Stock, par value $0.001 per share

 

1,000

 

Fresh Frozen Foods, Inc.

 

Common Stock, par value $0.001 per share

 

1,000

 

 

--------------------------------------------------------------------------------

 

Schedule 4.1(c)

 

Capitalization of Borrowers’ Subsidiaries

 

Subsidiary

 

Type of Equity
Interest

 

Authorized

 

Issued &
Outstanding

 

Interest

 

La Cometa Properties, Inc.

 

Common Stock

 

100,000

 

1,000

 

100

%

Poore Brothers – Bluffton, LLC

 

LLC Interest

 

N/A

 

N/A

 

100

%

Tejas PB Distributing, Inc.

 

Common Stock

 

100,000

 

1,000

 

100

%

Boulder Natural Foods, Inc.

 

Common Stock

 

100,000

 

1,000

 

100

%

BN Foods, Inc.

 

Common Stock

 

1,000

 

1,000

 

100

%

Rader Farms, Inc.

 

Common Stock

 

1,000

 

1,000

 

100

%

Willamette Valley Fruit Company

 

Common Stock

 

1,000

 

1,000

 

100

%

Fresh Frozen Foods, Inc.

 

Common Stock

 

1,000

 

1,000

 

100

%

 

--------------------------------------------------------------------------------

 

Schedule 4.1(d)

 

Subscriptions, Options, Warrants, Calls

 

Entity

 

Type of Security

 

Issued & Outstanding
(as of November 17, 2015)

 

Inventure Foods, Inc.

 

Options

 

645,652

 

Inventure Foods, Inc.

 

Restricted Stock Units

 

302,113

 

 

--------------------------------------------------------------------------------

 

Schedule 4.6

 

Litigation

 

None.

 

--------------------------------------------------------------------------------

 

Schedule 4.10

 

Employee Benefits

 

None

 

--------------------------------------------------------------------------------

 

Schedule 4.11

 

Environmental Matters

 

None.

 

--------------------------------------------------------------------------------

 

Schedule 4.14

 

Permitted Indebtedness

 

 

 

Entity

 

Issuer

 

Type

 

Amount
Owed

 

Maturity Date

 

1.

 

Inventure Foods, Inc.

 

Bank of America

 

Equipment term loan

 

$

1,924,735

 

December 2020

 

2.

 

Rader Farms, Inc.

 

Bank of America

 

Equipment term loan

 

$

2,013,436

 

August 2019

 

3.

 

Willamette Valley Fruit Company

 

Bank of America

 

Equipment term loan

 

$

1,494,636

 

August 2019

 

4.

 

Rader Farms, Inc.

 

Great America

 

Equipment term loan

 

$

13,536

 

May 2020

 

5.

 

Inventure Foods, Inc.

 

Toyotalift of Arizona

 

Equipment term loan

 

$

7,824

 

February 2018

 

6.

 

Inventure Foods, Inc.

 

ShoreTel

 

Capital lease

 

$

7,360

 

March 2016

 

 

--------------------------------------------------------------------------------

 

Schedule 4.23

 

Location of Inventory

 

(a)           Owned properties containing inventory

 

 

 

Entity of Record

 

Address

1.

 

La Cometa Properties, Inc.

 

3500 S. La Cometa Drive
Goodyear, AZ 85338

2.

 

Fresh Frozen Foods, Inc.

 

1814 Washington Street
Jefferson, GA 30549

3.

 

Fresh Frozen Foods, Inc.

 

600 Cassidy Road
Thomasville, GA 31792

4.

 

La Cometa Properties, Inc.

 

705 W. Dustman Road
Bluffton, IN 46714

 

(b)           Leased properties containing inventory

 

 

 

Tenant

 

Address

1.

 

Inventure Foods, Inc.

 

5415 E. High Street, Suite 350
Phoenix, AZ 85054

2.

 

Inventure Foods, Inc.

 

2994 82nd Avenue NE
Salem, OR 97305

3.

 

Inventure Foods Inc.

 

Leased Agricultural Property - Approximately 42 acres of land situated in
Whatcom County, WA

4.

 

Rader Farms, Inc.

 

Leased Agricultural Property - Approximately 102.6 acres of land situated at
6757 Nooksack Road, Everson, Whatcom County, WA

5.

 

Rader Farms, Inc.

 

Leased Agricultural Property - Approximately 696 acres of land situated in
Whatcom County, WA

6.

 

Inventure Foods, Inc.

 

1955 W. Lancaster Street I
Bluffton, IN 46714

7.

 

Inventure Foods, Inc.

 

101 N. 104th Avenue
Tolleson, AZ 85353

8.

 

Inventure Foods, Inc.

 

3001 N. 9th Avenue
Pensacola, FL 32503

9.

 

Rader Farms, Inc.

 

500 Orchard Drive
Bellingham, WA 98226

10.

 

Willamette Valley Fruit Company

 

1440 Salem Industrial Drive NE
Salem, OR 97301

 

--------------------------------------------------------------------------------

 

(c)           Inventory stored pursuant to bailment, etc.

 

 

 

Inventure Foods Entity

 

Address of Storage Facility

1.

 

Inventure Foods, Inc.

 

2120 E Washington Boulevard Suite B
Fort Wayne, IN 46803

2.

 

Inventure Foods, Inc.

 

1025 Osage Street
Fort Wayne, IN 46808

3.

 

Inventure Foods, Inc.

 

1150 North Main Street
Bluffton, IN 46714

4.

 

Inventure Foods, Inc.

 

1126 Raymond Bland Road
Glennville, GA 30427

5.

 

Willamette Valley Fruit Company

 

4735 Brooklake Road NE
Salem, OR 97305

6.

 

Willamette Valley Fruit Company

 

4095 Portland Road NE
Salem, OR 97301

7.

 

Willamette Valley Fruit Company

 

1440 Silverton Road
Woodburn, OR 97071

8.

 

Willamette Valley Fruit Company

 

1440 Salem Industrial Drive NE
Salem, OR 97301

9.

 

Willamette Valley Fruit Company

 

17400 NE Sacramento Street
Portland, OR 97230

10.

 

Willamette Valley Fruit Company

 

4124 24th Avenue
Forest Grove, OR 97116

11.

 

Willamette Valley Fruit Company

 

19450 NE San Rafael Street
Portland, OR 97230

12.

 

Willamette Valley Fruit Company

 

3815 Marion Street SE
Albany, OR 97322

13.

 

Willamette Valley Fruit Company

 

310 S Seneca Road
Eugene, OR 97402

14.

 

Inventure Foods, Inc.

 

690 Heinberg Street
Pensacola, FL 32502

15.

 

Rader Farms, Inc.

 

2201 North Wind Parkway
Hobart, IN 46342

16.

 

Rader Farms, Inc.

 

600 Orchard Drive
Bellingham, WA 98225

17.

 

Rader Farms, Inc.

 

3001 Athens Highway,
Gainesville, GA 30507

18.

 

Rader Farms, Inc.

 

4735 Brooklake Road NE
Salem, OR 97305

19.

 

Rader Farms, Inc.

 

31785 Marshall Road, R R #5
Abbotsford, BC V2T 5Z8

20.

 

Rader Farms, Inc.

 

406 2nd Street, P.O. Box 709
Lynden, WA 98264

21.

 

Rader Farms, Inc.

 

11850 Center Road
San Antonio, TX 78223

22.

 

Fresh Frozen Foods, Inc.

 

3001 Athens Highway,
Gainesville, GA 30507

23.

 

Fresh Frozen Foods, Inc.

 

4231 Profit Drive
San Antonio, TX 78219

24.

 

Fresh Frozen Foods, Inc.

 

121 Roseway Drive
Thomasville, GA 31792

 

--------------------------------------------------------------------------------

 

 

 

Inventure Foods Entity

 

Address of Storage Facility

25.

 

Fresh Frozen Foods, Inc.

 

1161 Candler Road
Gainesville, GA 30507
and
3801 Cornelia Highway
Lula, GA 30554

26.

 

Fresh Frozen Foods, Inc.

 

200 North FM 509
Harlingen, TX 78550

27.

 

Rader Farms, Inc.

 

279 Marquette Drive
Bolingbrook, Il 60440

28.

 

Rader Farms, Inc.

 

Farmland owned by Ebe Farms located in Whatcom County, Washington, pursuant to
that certain Crop Rotation Agreement between Rader Farms, Inc. and Ebe Farms
dated February 6, 2013.

 

--------------------------------------------------------------------------------

 

Schedule 4.26

 

Material Contracts

 

(a)                                 Agreements over $10,000,000

 

1.                                       None.

 

(b)                                 Food product grower arrangements

 

1.                                      None.

 

(c)                                  License agreements

 

1.                                      License Agreement, effective March 31,
2014, between the Parent Borrower and TGI Friday’s of Minnesota, Inc.

2.                                      License Agreement, effective January 5,
2011, by and between the Parent Borrower and Nathan’s Famous Systems, Inc.

3.                                      License Agreement, effective June 28,
2012, by and between the Parent Borrower and Vidalia Brands, Inc.

4.                                      Trademark Licensing, Supply and
Distribution Agreement, effective November 30, 2013, by and between the Parent
Borrower and Seattle’s Best Coffee, LLC.

5.                                      Product License Agreement, effective
July 23, 2009, between Parent Borrower and Jamba Juice Company.

6.                                      Intellectual Property Agreement, dated
August 24, 2006, between Parent Borrower and Miles Willard Technologies, LLP.

 

(d)                                 All other agreements

 

1.                                      Agricultural Ground Lease, dated as of
May 17, 2007, by and among Lyle Rader, Sue Rader, Brad Rader, Julie Newell and
Rader Farms Acquisition Corp., as amended by that certain Lease Extension
Agreement, dated as of October 12, 2012, by and between the Parent Borrower’s
subsidiary Rader Farms, Inc. as lessee, and Uptrail Group I, LLC, Uptrail Group
II, LLC and Uptrail Group III, LLC, collectively as lessor.

 

--------------------------------------------------------------------------------

 

Schedule 5.1

 

Financial Statements, Reports, Certificates

 

Deliver to Agent (and if so requested by Agent, with copies for each Lender)
each of the financial statements, reports, or other items set forth below at the
following times in form satisfactory to Agent:

 

if an Event of Default has occurred and is continuing, as soon as available, but
in any event within 30 days (45 days in the case of a month that is the end of
one of Parent Borrower’s fiscal quarters) after the end of each month during
each of Borrower’s fiscal years,

 

(a)           an unaudited consolidated and consolidating balance sheet, income
statement, statement of cash flow and statement of shareholder’s equity covering
Parent Borrower’s and its Subsidiaries’ operations during such period and
compared to the prior period and plan, together with a corresponding discussion
and analysis of results from management,

 

(b)           a Compliance Certificate along with the underlying calculations,
including the calculations to arrive at EBITDA to the extent applicable,

 

(c)           a calculation of the Fixed Charge Coverage Ratio and the Total
Leverage Ratio that is required to be delivered under the Agreement, and

 

(d)           any compliance certificate delivered under the ABL Credit
Agreement.

 

 

 

as soon as available, but in any event within 45 days after the end of each
quarter during each of Borrower’s fiscal years,

 

(e)           an unaudited consolidated and consolidating balance sheet, income
statement, statement of cash flow and statement of shareholder’s equity covering
Parent Borrower’s and its Subsidiaries’ operations during such period and
compared to the prior period and plan, prepared in accordance with GAAP as well
as on an internally-determined “mark-to-market” basis, together with a
corresponding discussion and analysis of results from management,

 

(f)            a Compliance Certificate along with the underlying calculations,
including the calculations to arrive at EBITDA to the extent applicable,

 

(g)           a calculation of the Fixed Charge Coverage Ratio and Total
Leverage Ratio that is required to be delivered under the Agreement,

 

(h)           a certification of compliance with all applicable United States
Department of Agriculture and the Food and Drug Administration rules and
policies and rules and policies of any other Governmental Authority relating to
Food Security Laws, including, if requested by Agent, a third-party expert
certification audit or Food and Drug Administration inspection of the Loan
Parties quality system, and

 

(i)            any compliance certificate delivered under the ABL Credit
Agreement.

 

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as soon as available, but in any event within 90 days after the end of each of
Parent Borrower’s fiscal years,

 

(j)            consolidated and consolidating financial statements of Parent
Borrower and its Subsidiaries for each such fiscal year, audited by independent
certified public accountants reasonably acceptable to Agent and certified,
without any qualifications (including any (A) “going concern” or like
qualification or exception, (B) qualification or exception as to the scope of
such audit, or (C) qualification which relates to the treatment or
classification of any item and which, as a condition to the removal of such
qualification, would require an adjustment to such item, the effect of which
would be to cause any noncompliance with Article 7 of the Agreement (other than
any qualification or exception attributable solely to the occurrence of the
stated maturity of any Revolving Loans within 12 months after the date of such
opinion)), by such accountants to have been prepared in accordance with GAAP
(such audited financial statements to include a balance sheet, income statement,
statement of cash flow, and statement of shareholder’s equity, and, if prepared,
such accountants’ letter to management), as well as on an internally-determined
“mark-to-market” basis,

 

(k)           a Compliance Certificate along with the underlying calculations,
including the calculations to arrive at EBITDA to the extent applicable,

 

(l)            a calculation of the Fixed Charge Coverage Ratio and Total
Leverage

Ratio that is required to be delivered under the Agreement, and

 

(m)          any compliance certificate delivered under the ABL Credit
Agreement.

 

 

 

as soon as available, but in any event within 15 days after the start of each of
Parent Borrower’s fiscal years,

 

(n)           copies of Parent Borrower’s Projections, in form and substance
(including as to scope and underlying assumptions) satisfactory to Agent,
exercising reasonable (from the perspective of a secured term-based lender)
business judgment, for the forthcoming 3 years, certified by the chief financial
officer of Parent Borrower as being such officer’s good faith estimate of the
financial performance of Parent Borrower during the period covered thereby.

 

 

 

if and when filed by Parent Borrower,

 

(o)           Form 10-Q quarterly reports, Form 10-K annual reports, and
Form 8-K current reports (if any when requested by Agent),

 

(p)           any other filings made by Parent Borrower with the SEC, and

 

(q)           any other information that is provided by Parent Borrower to its
shareholders generally.

 

 

 

promptly, but in any event within 5 days after Borrower has knowledge of any
event or condition that constitutes a Default or an Event of Default,

 

(r)            notice of such event or condition and a statement of the curative
action that Borrower proposes to take with respect thereto.

 

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promptly after the commencement thereof, but in any event within 5 days after
the service of process with respect thereto on Parent Borrower or any of its
Subsidiaries,

 

(s)            notice of all actions, suits, or proceedings brought by or
against Parent Borrower or any of its Subsidiaries before any Governmental
Authority which reasonably could be expected to result in a Material Adverse
Effect.

 

 

 

upon the request of Agent,

 

(t)            any other information reasonably requested relating to the
financial condition of Parent Borrower or its Subsidiaries.

 

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Schedule 5.2

 

Collateral Reporting

 

Provide Agent (and if so requested by Agent, with copies for each Lender) with
copies of all documents provided to the ABL Agent under Schedule 5.2 of the ABL
Credit Agreement at the times as set forth in the ABL Credit Agreement.

 

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Schedule 5.12

 

With respect to each Mortgage required to be delivered pursuant to Section 5.12
, Schedule 3.1 or Schedule 3.6 of the Agreement, the Agent shall be entitled to
receive:

 

(i)         Title Insurance.  The Agent shall have received a marked-up
commitment for an ALTA mortgagee title insurance policy, insuring the first
priority Lien of the Agent, for the benefit of the Secured Parties, and showing
no Liens prior to such Liens other than for ad valorem taxes not yet due and
payable, with title insurance companies acceptable to the Agent, on each
property subject to a Mortgage. In connection with the foregoing,  Borrowers
shall provide or obtain any customary affidavits and indemnities as may be
required or necessary to obtain title insurance satisfactory to the Agent.

 

(ii)        Title  Exceptions.    The  Agent  shall  have  received  copies  of 
all  recorded documents creating exceptions to the title policy referred to in
clause (i) above.

 

(iii)       Matters Relating to Flood Hazard Properties.  With respect to each
parcel of real property subject to a Mortgage, the Agent shall have received
(A) a “life of loan” flood hazard certification from the National Research
Center, or any successor agency thereto and, (B) if such parcel of real property
is located in a special flood hazard area:

 

(I)         notices to (and confirmation of receipt by) the Borrower as to the
existence of a special flood hazard and, if applicable, the unavailability of
flood hazard insurance under the National Flood Insurance Program because the
community does not participate in the National Flood Insurance Program; and

 

(II)       to the extent flood hazard insurance is available in the community in
which the real property is located, a copy of one of the following: (w) the
flood hazard insurance policy, (x) the Borrower’s application for a flood hazard
insurance policy, together with proof of payment of the premium associated
therewith, (y) a declaration page confirming that flood hazard insurance has
been issued to the Borrower or (z) such other evidence of flood hazard insurance
satisfactory to the Agent.

 

(iv)       Surveys.  The Agent shall have received copies of current as-built
ALTA/ACSM Land Title surveys certified to the Agent of each parcel of real
property subject to a Mortgage certified as of a recent date by a registered
engineer or land surveyor; provided the Agent may accept an older survey or
other documentation so long as it is sufficient to remove the survey exception
in the title policy and to receive a same as survey title endorsement.  Each
such survey shall be accompanied by an affidavit of an authorized signatory of
the owner of such property stating that there have been no improvements or
encroachments to the property since the date of the respective survey such that
the existing survey is no longer accurate.  Such survey shall show the area of 
such property, all boundaries of  the  land with courses and distances
indicated, including chord bearings and arc and chord distances for all curves,
and shall show dimensions and locations of all easements, private drives,
roadways, and other facts materially affecting such property, and shall show
such other details as the Agent may reasonably request, including, without
limitation, any encroachment (and the extent thereof in feet and inches) onto
the property or by any of the improvements on the property upon adjoining land
or upon any easement burdening the property; any improvements, to the extent
constructed, and the relation of the improvements by distances to the boundaries
of the property, to any easements burdening the property, and to the established
building lines and the street lines; and if improvements are

 

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existing, (A) a statement of the number of each type of parking space required
by Applicable Laws, ordinances, orders, rules, regulations, restrictive
covenants and easements affecting the improvement, and the number of each such
type of parking space provided, and (B) the locations of all utilities serving
the improvement.

 

(v)        Environmental Assessments.   The Agent shall have received, from a
national firm acceptable to Agent, a current Phase I environmental assessment
prepared in accordance with ASTM Standard No. 1527-13 certified to the Agent and
such other environmental reports reasonably requested by the Agent regarding
each parcel of real property subject to a Mortgage by an environmental
engineering firm acceptable to the Agent showing no material environmental
conditions in violation of Environmental Laws or liabilities under Environmental
Laws; provided that any “Recognized Environmental Concerns” (as defined in
American Society for Testing and Materials Standard E 1527-05, to include “the
presence or likely presence of any hazardous substances or petroleum products on
a property under conditions that indicate an existing release, a past release,
or a material threat of a release of hazardous substances or petroleum products
into structures on the property or into the ground, ground water, or surface
water of the property, excluding de minimis conditions”) identified in such
reports and all other compliance issues will be addressed promptly to the
satisfaction of Agent.

 

(vi)       Opinions. The Agent shall have received opinions of (i) DLA Piper LLP
(US) or other counsel reasonably acceptable to the Agent as to certain corporate
formalities of the Mortgages and (ii) local counsel for the Loan Parties in each
state in which each parcel of real property subject to a Mortgage is located
with respect to the enforceability of the Mortgage to be recorded in such State
in form and substance and from counsel reasonably satisfactory to the Agent.

 

(vii)     Other Real Property Information.  The Agent shall have received such
other certificates, documents and information as are reasonably requested by the
Lenders, including, without limitation, landlord agreements/waivers, engineering
and structural reports, permanent certificates of occupancy and evidence of
zoning compliance, each in form and substance satisfactory to the Agent.

 

(viii)     Payment of Title Premiums, Taxes, Etc.. The Agent shall have received
evidence that the Borrowers have paid in full all title premiums, survey costs,
environmental report costs, recording taxes, intangibles taxes, document stamp
fees and other costs and expenses associated with the Mortgages and the other
documentation required to be executed or delivered pursuant to this Schedule
5.12.

 

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Schedule 6.5

 

Nature of Business

 

Parent Borrower is a leading marketer and manufacturer of healthy/natural and
indulgent specialty snack food brands. We operate in two segments: (1) frozen
products and (2) snack products. The frozen products segment includes frozen
fruits, vegetables, beverages, blends, and frozen desserts for sale primarily to
groceries, club stores and mass merchandisers. All products sold under our
frozen products segment are considered part of the healthy/natural food
category. The snack products segment includes potato chips, kettle chips, potato
crisps, potato skins, pellet snacks, sheeted dough products, cereal, popcorn,
and extruded products for sale primarily to snack food distributors and
retailers. The products sold under our snack products segment includes products
considered part of the indulgent specialty snack food category, as well as
products considered part of the healthy/natural food category. We also
manufacture private label snacks for certain grocery retail chains and co-pack
products for other snack and cereal manufacturers.

 

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Schedule 8.13

 

The Borrowers shall satisfy each of the following requirements on or prior to
the date set forth herein, in each case in form an substance satisfactory to the
Lender Group:

 

(a)         Within 60 days after the Closing Date (or such longer period as the
Agent may determine in its sole discretion), Agent shall have received a first
priority Mortgage (subject to the Permitted Liens) and all items required by
Schedule 5.12 with respect to each leasehold interest in Real Property leased by
the Borrowers as of the Closing Date;

 

(b)         Within 60 days after the Closing Date (or such longer period as the
Agent may determine in its sole discretion), Agent shall have received all items
required by Schedule 5.12 with respect to all fee interests in Real Property
owned by Borrowers as of the Closing Date;

 

(c)         Within 60 days after the Closing Date (or such longer period as the
Agent may determine in its sole discretion), Agent shall have received all
amendments, as necessary, to those Mortgages delivered pursuant to Schedule
3.1(d)(xv), to record any changes resulting from the items delivered pursuant to
clause (b) above;

 

(d)        Within 10 days of the Closing Date (or such longer period as the
Agent may determine in its sole discretion), Agent shall have received all
Mortgages that were not delivered as required pursuant to Schedule 3.1(d)(xv);

 

(e)         Within 45 days after the Closing Date (or such longer period as the
Agent may determine in its sole discretion), Agent shall have received original
certificates of title for all motor vehicles set forth on Schedule 12 to the
Guaranty and Security Agreement;

 

(f)              Within 90 days after the Closing Date (or such longer period as
the Agent may determine in its sole discretion), with respect to any Material
Contract, Borrowers shall use best efforts to deliver to Agent all consents and
approvals necessary in order to give effect to the terms and conditions of the
Agreement and Loan Documents including the granting to the Lenders of a security
interest therein; and

 

(g)              Within 90 days after the Closing Date (or such longer period as
the Agent may determine in its sole discretion), the Loan Parties shall use
commercially reasonable efforts to deliver to Agent (i) Collateral Access
Agreements for each of the properties identified under the heading (b) on
Schedule 4.23 of the Agreement and (ii) bailee waivers for each of the
properties identified under the heading (c) on Schedule 4.23 of the Agreement,
in each case, duly executed and delivered by each party thereto.

 

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