Document:

ex10-45.htm

Exhibit 10.45

 

 

 

 

 

 

April 12, 2011

Via Email:                Jeffrey Miles, attorney for Global Renaissance Entertainment Group (jsm1001@aol.com)

Arthur Wylie (arthurwylie@gmail.com); Dale Godboldo (dalegodboldo@gmail.com)

Dear Jeffrey, Arthur & Dale,

Following my discussion last Sunday evening with Dale Godboldo, it appears unlikely that Global Renaissance Entertainment Group, Inc. ("GREG") will be able to deliver the Closing documents to Global Entertainment Holdings, Inc. ("GBHL") required under the terms of our Share Exchange Agreement, dated July 1, 2010 (the "Share Agreement") by this Thursday, April 14, 2011, in time for filing our annual report with the Securities and Exchange Commission (“SEC”).

As of this date, GBHL has not received the certificate representing GBHL's equity interest in GREG, nor any of the additional Closing documents listed under Section 6.1(a) of the Share Agreement. As discussed, these Closing documents have been outstanding for over six months and GBHL's audit team needs copies of these Closing documents, as well as properly prepared financial statements (in compliance with GAAP), in order for our auditor to book the underlying transaction of the Share Agreement for our audited financial statements that must be filed on April 15, 2011.  If our auditor doesn’t receive these items, it could hold up our audit, which could result in us losing our status as a Bulletin Board trading company. However, if you can comply with our auditor’s request and deliver all of the foregoing items, the balance of this letter will become moot.

Accordingly, GBHL and GREG hereby mutually agree to render the Share Agreement void, ab initio, and of no force or effect whatsoever, thereby returning the parties to their respective positions immediately prior to executing the Share Agreement. Please return the GBHL share certificate issued to GREG last July, 2010, as it must be canceled and disclosed as such in our upcoming SEC filings.  Furthermore, although it pains us, we must ask that you refrain from discussing the former association represented in the Share Agreement and the related Joint Venture Agreement.

Please acknowledge your receipt of this letter and indicated your agreement with the foregoing terms by signing and returning a copy of this letter to the undersigned by this Thursday, April 14, 2011. We look forward to discussing to continuation of our relationship in the near future at a time when GREG has completed its financial statements.

Regards,

Global Entertainment Holdings, Inc.

By:  /s/ Gary Rasmussen            

        Gary Rasmussen, CEO

cc: Stanley Weiner, CFO

Agreed to this 14th day of April, 2011, and effective as of July 1, 2010:

Global Renaissance Entertainment Group, Inc.

By:  /s/ Arthur Wylie                   

       Arthur Wylie, CEOex10-46.htm

Exhibit 10.46

 

“Mr. Pink”

 

OPTION AGREEMENT

 

For valuable consideration, receipt of which is hereby acknowledged, the undersigned, Allen Brothers Publishing, LLC, whose address is c/o Julie McGill, Esq., 250 W. Main Street, Suite 3010, Lexington, Kentucky 40507, hereby sells, grants and assigns to Global Universal Entertainment, Inc. (“Purchaser”), whose address is c/o Raleigh Studios, 650 N. Bronson Avenue, Suite B-116, Los Angeles, CA 90004-1404, the exclusive option, for an initial option period commencing as of the date hereof and continuing for a period of 18months following the Execution Date specified below, which may be extended for an additional period of 12 months and other automatic extensions, to acquire in perpetuity and throughout the universe, among other things, the exclusive right to produce and distribute for and in all media now known or hereafter devised all types of audiovisual works of any kind and allied rights therein (including by way of illustration all soundtrack, music publishing and merchandising rights) based on that certain work of authorship described as follows:

 

Title:  “Mr. Pink”

 

Written By:  Charles T. Allen, II

Publisher: Allen Brothers Publishing, LLC.

Date and Place of Initial Publication:  November 10, 2010/State of Minnesota

Copyright Registration No.:  TXu 1-718-243

 

The undersigned and Purchaser have entered into an Option Purchase Agreement dated as of May 11, 2011, relating to the transfer and assignment of the foregoing rights in and to said work, which rights are more fully described in said agreement, including without limitation, the Reserved Rights described therein, and this option agreement is expressly made subject to all of the terms, conditions and provisions contained in said agreement.

 

Execution Date of the Option Purchase Agreement:  5 - 17 - 2011.

 

	  	
Allen Brothers Publishing, LLC

By:  /s/ Blake Allen                       

Its: Directing Manager

 

 

  

  

  

 

 

ALL-PURPOSE ACKNOWLEDGMENT

 

State of Kentucky )

 

 )

 

County of Fayette )

 

On            5/17/11                  before me, Patrick A. Minind, personally appeared James Blake Allen, personally known to me (or proved to me on the basis of  satisfactory evidence) to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument.

 

Witness my hand and official seal.

 

/s/ Patrick A. Minind________________________________

Signature of Notary

 

Notary Commission

Expires 11/3/13

Notary ID 407947Supplemental Indenture

 Exhibit 4.1 
 SUPPLEMENTAL INDENTURE 
 This SUPPLEMENTAL INDENTURE, dated as of
May 20, 2011 (the “Supplemental Indenture”), is by and among Norcraft Companies, L.P., a Delaware limited partnership (the “Issuer”), Norcraft Finance Corp., a Delaware corporation (the
“Co-Issuer” and, together with the Issuer, the “Issuers”), Norcraft Canada Corporation, a Nova Scotia unlimited liability company (the “Guarantor” and, collectively with the
Issuers, the “Norcraft Parties”), and U.S. Bank National Association, a national banking association, as trustee (the “Trustee”) and as collateral agent (the “Collateral Agent”)
under the Indenture referred to below. 
 RECITALS 

WHEREAS, the Norcraft Parties, the Trustee and the Collateral Agent have previously become parties to an Indenture, dated as of
December 9, 2009 (as amended, supplemented or otherwise modified from time to time, the “Indenture”), providing for the issuance of the Issuers’ 10-1/2% Senior Secured Second Lien Notes due 2015 (the
“Notes”); 
 WHEREAS, the Norcraft Parties propose to amend the Indenture as contemplated by this
Supplemental Indenture (such amendments, collectively, the “Amendments”); 
 WHEREAS, pursuant to
Section 9.02 of the Indenture, the Norcraft Parties, the Trustee and the Collateral Agent may amend or supplement the Indenture as contemplated by this Supplemental Indenture with the consent of Holders of at least a majority in aggregate
principal amount of the outstanding Notes; 
 WHEREAS, the Norcraft Parties have obtained the consent of Holders of at least a
majority in aggregate principal amount of the outstanding Notes, pursuant to the Consent Solicitation Statement, dated May 16, 2011 (as amended, supplemented or otherwise modified from time to time, the “Consent Solicitation
Statement”), to the Amendments upon the terms and subject to the conditions set forth therein; 
 WHEREAS, the
Norcraft Parties have done all things necessary to make this Supplemental Indenture a valid agreement of the Norcraft Parties in accordance with the terms of the Indenture and have satisfied all other conditions required under Article Nine of the
Indenture; and 
 WHEREAS, pursuant to Section 9.07, the Trustee and the Collateral Agent are authorized to execute and
deliver this Supplemental Indenture. 
 NOW, THEREFORE, in consideration of the foregoing and for other good and valuable
consideration, the receipt of which is hereby acknowledged, in order to effect the Amendments, the Norcraft Parties agree with the Trustee and the Collateral Agent as follows: 
 ARTICLE I 
 DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION 

1.1 Definitions. Except as otherwise expressly provided herein or unless the context otherwise requires, capitalized terms used
but not defined in this Supplemental Indenture shall have the meanings assigned to them in the Indenture. 
 1.2 Effect of
Headings. The Article and Section headings in this Supplemental Indenture are for convenience only and shall not affect the construction of the Indenture or this Supplemental Indenture. 

1.3 Successors. All agreements of the Norcraft Parties in this Supplemental Indenture shall bind their respective successors. All
agreements of the Trustee in this Supplemental Indenture shall bind its successor. 
 1.4. Severability. In case any one
or more of the provisions in this Supplemental Indenture shall be held invalid, illegal or unenforceable, in any respect for any reason, the validity, legality and enforceability of any such provision in every other respect and of the remaining
provisions shall not in any way be affected or impaired thereby, it being intended that all of the provisions hereof shall be enforceable to the full extent permitted by law. 
 1.5 Trust Indenture Act Controls. If any provision of this Supplemental Indenture limits, qualifies or conflicts with another provision which is required or deemed to be included in this
Supplemental Indenture by the Trust Indenture Act of 1939, as amended (the “Act”), as in force at the date this Supplemental Indenture is executed, such required or deemed provision shall control. 

 1.6 Benefits of Supplemental Indenture. Nothing in this Supplemental Indenture,
express or implied, shall give to any person, other than the parties to this Supplemental Indenture and their successors hereunder and the Holders of the Notes, any benefit of any legal or equitable right, remedy or claim under this Supplemental
Indenture. 
 1.7 Governing Law. This Supplemental Indenture will be governed by, and construed in
accordance with, the laws of the State of New York, as applied to contracts made and performed within the State of New York, without regard to principles of conflicts of law. 

1.8 Reference to and Effect on the Indenture. 

(a) On and after the Operative Date (as defined in Section 2.1 below), each reference in the Indenture to “this
Indenture,” “hereunder,” “hereof,” or “herein” shall mean and be a reference to the Indenture as supplemented by this Supplemental Indenture, unless the context otherwise requires. 

(b) Except as specifically amended by this Supplemental Indenture on the Operative Date, the Indenture and the Notes are
hereby ratified and confirmed and all of the terms, conditions and provisions thereof shall remain in full force and effect. This Supplemental Indenture shall form a part of the Indenture for all purposes, and every Holder of the Notes heretofore
and hereafter authenticated and delivered under the Indenture shall be bound hereby. 
 ARTICLE II 

AMENDMENTS OF THE INDENTURE 
 2.1 Amendment to Indenture. Following the execution and delivery by the Norcraft Parties, the Trustee and the Collateral Agent of this Supplemental Indenture, the terms hereof shall become
operative on the date (the “Operative Date”) the Issuer has paid the Consent Fees (as defined in the Consent Solicitation Statement) in accordance with and as contemplated by the Consent Solicitation Statement. 

2.2 Amendment of Section 1.01. 
 (a) As of the Operative Date, Section 1.01 is amended by adding the following definition: 
 “Add-On Notes” has the meaning set forth in Section 4.10(b)(2). 
 (b) As of the Operative Date, Section 1.01 is amended by deleting the definition of “Intercreditor Agreement” in its entirety and replacing it with the following: 

“Intercreditor Agreement” means the Intercreditor Agreement, dated as of the Issue Date, by and among UBS
AG, Stamford Branch, in its capacity as administrative agent and collateral agent pursuant to the Credit Agreement, the holders of any Other Pari Passu Secured Indebtedness from time to time (or any agent or representative on their behalf), the
Trustee, the Collateral Agent, the Issuer and the Guarantors, as amended, amended and restated, supplemented, modified or replaced from time to time. 
 (c) As of the Operative Date, Section 1.01 is amended by deleting the last sentence of the definition of “Other Pari Passu Secured Indebtedness and replacing it with the following: 

“Other Pari Passu Secured Indebtedness” does not include the Notes and the Note Guarantees issued on the Issue
Date, any Additional Notes and the related Note Guarantees and any Exchange Notes and the related Note Guarantees issued in exchange for the Notes and the Note Guarantees issued on the Issue Date and any Additional Notes and the related Note
Guarantees, as the case may be. 
 (d) As of the Operative Date, Section 1.01 is amended by deleting clause
(12) of the definition of “Permitted Liens” and replacing it with the following: 
 (12) Liens
securing the Notes (including the Add-On Notes, but excluding any other Additional Notes) and the related Note Guarantees and Liens securing any Exchange Notes and the related Note Guarantees issued or to be issued in exchange therefor pursuant to
the Registration Rights Agreement. 
 2.3 Amendment of Section 4.10(b)(2). As of the Operative Date,
Section 4.10(b)(2) is hereby deleted in its entirety and replaced with the following: 
 (2) (i) the
Notes and the related Note Guarantees issued on the Issue Date, (ii) Additional Notes in an aggregate principal amount of up to $60 million (collectively, the “Add-On Notes”) and the related Note

 
Guarantees and (iii) any Exchange Notes and the related Note Guarantees issued or to be issued in exchange for the Notes and the related Note Guarantees issued on the Issue Date and any
Add-On Notes and the related Note Guarantees, as the case may be, pursuant to the Registration Rights Agreement; provided that the proceeds of the Add-On Notes shall be used first to Retire Parent Debt (including the payment of premium,
accrued and unpaid interest and fees and expenses in connection therewith) and, if the Parent Debt is fully Retired, any excess proceeds may be used for any other purpose not prohibited hereunder. 

2.4 Amendment of Section 4.11(b)(12). As of the Operative Date, clause of Section 4.11(b)(12) is hereby deleted in its
entirety and replaced with the following: 
 (12) Restricted Payments for the purpose of enabling (A) Parent
to Retire Parent Debt (including the payment of premium, accrued and unpaid interest and fees and expenses in connection therewith), (B) the Issuer or its Restricted Subsidiaries to Retire Parent Debt (including the payment of premium, accrued
and unpaid interest and fees and expenses in connection therewith), if, in the case of the preceding subclauses (A) and (B), (x) such Restricted Payment is made solely with the proceeds of Indebtedness of the Issuer and its Subsidiaries
incurred in compliance with Section 4.10(b)(15) and Parent Debt is Retired contemporaneously with the incurrence of such Indebtedness, or (y) the Consolidated Net Leverage Ratio as of the date of such Restricted Payment, after giving
effect to such Restricted Payment is less than or equal to 4.00 to 1.00 and as of the date of such Restricted Payment, after giving effect to such Restricted Payment, the Issuer has in excess of $20.0 million of unrestricted cash and cash
equivalents (as determined in accordance with GAAP) on its consolidated balance sheet and no amounts (other than undrawn letters of credit) shall be outstanding under the revolving portion of any Credit Facility, or (C) Parent, the Issuer or
its Restricted Subsidiaries to Retire Parent Debt (including the payment of premium, accrued and unpaid interest and fees and expenses in connection therewith) to the extent that such Restricted Payment is made with proceeds from the issuance of any
Add-On Notes and Parent Debt is Retired contemporaneously with any such issuance; or 
 ARTICLE III 

ADDITIONAL SUPPLEMENTAL INDENTURE 
 3.1 Additional Supplemental Indenture. Simultaneously and in connection with the consummation of the Notes Offering (as defined in the Consent Solicitation Statement), the Norcraft Parties, the
Trustee and the Collateral Agent agree to execute and deliver an additional supplemental indenture, pursuant to which the Add-On Notes (as defined in the Indenture, as amended hereby) shall be issued. 

*** 
 This Supplemental
Indenture may be executed in several counterparts, all of which together shall constitute one agreement binding on all parties hereto, notwithstanding that all the parties have not signed the same counterpart. 

[Remainder of page intentionally left blank] 

 SIGNATURES 
 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed all as of the date first written above. 

 

			
	NORCRAFT COMPANIES, L.P.,
	  as Issuer
		
	By:	 	Norcraft GP, L.L.C.,
		 	its General Partner
		
	By:	 	 /s/ LEIGH GINTER

	Name: Leigh Ginter
	Title: Chief Financial Officer
	
	NORCRAFT FINANCE CORP.,
	  as Co-Issuer
		
	By:	 	 /s/ LEIGH GINTER

	Name: Leigh Ginter
	Title: Vice President
	
	NORCRAFT CANADA CORPORATION,
	  as Guarantor
		
	By:	 	 /s/ LEIGH GINTER

	Name: Leigh Ginter
	Title: Vice President
	
	U.S. BANK NATIONAL ASSOCIATION,
	  as Trustee
		
	By:	 	 /s/ JOSHUA A. HAHN

	Name: Joshua A. Hahn
	Title: Assistant Vice President
	
	U.S. BANK NATIONAL ASSOCIATION,
	  as Collateral Agent
		
	By:	 	 /s/ JOSHUA A. HAHN

	Name: Joshua A. Hahn
	Title: Assistant Vice President

 Supplemental Indenture (10-1/2% Senior Secured Second Lien Notes due 2015)

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