Document:

EX-10.9

 Exhibit 10.9 

FORWARD PURCHASE AGREEMENT 

This Forward Purchase Agreement (this “Agreement”) is entered into as of [●], 2021 between EG Acquisition Corp.,
a Delaware corporation (the “Company”) and the purchaser that is a signatory hereto (the “Purchaser”). 

WHEREAS, the Company was incorporated for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase,
reorganization or similar business combination with one or more businesses (a “Business Combination”); 
 WHEREAS,
the Company has filed with the U.S. Securities and Exchange Commission (the “SEC”) a draft registration statement on Form S-1 (File
No. 333-255046) (the “Registration Statement”) for its initial public offering (“IPO”) of units (the “Public Units”)
at a price of $10.00 per Public Unit (the “IPO Unit Price”), each comprised of one share of common stock of the Company, par value $0.0001 per share (the “Common Stock,” and the shares of Common Stock
included in the Public Units, the “Public Shares”), and one-third of one redeemable warrant, where each whole redeemable warrant is exercisable to purchase one share of Common Stock at
an exercise price of $11.50 per share (the “Warrants,” and the Warrants included in the Public Units, the “Public Warrants”); 

WHEREAS, following the closing of the IPO (the “IPO Closing”), the Company will seek to identify and consummate a
Business Combination, and the Company may seek to raise funds through an issuance and private placement of equity securities of the Company to be issued in connection with the consummation of such Business Combination; and 

WHEREAS, the parties wish to enter into this Agreement, pursuant to which, to the extent that the Company seeks to issue and sell equity
securities through a PIPE Transaction (as defined herein) in connection with the Company’s initial Business Combination, the Company shall first irrevocably offer to the Purchaser the opportunity to purchase, on a private placement basis
pursuant to this Agreement, Forward Purchase Securities (as defined herein) in an amount equal to no less than (a) the percentage of Public Units purchased by the Purchaser in the IPO out of the total number of Public Units sold in the IPO
(excluding any Public Units sold pursuant to the exercise of the underwriters’ over-allotment option) multiplied by (b) the total number of shares of Common Stock sold in the PIPE Transaction (including the Forward Purchase Securities
being sold pursuant to this Agreement and any other similar forward purchase agreements) (the “FPA Offering Amount”), in each case on the terms and subject to the conditions set forth herein. 

NOW, THEREFORE, in consideration of the premises, representations, warranties and the mutual covenants contained in this Agreement, and for
other good and valuable consideration, the receipt, sufficiency and adequacy of which are hereby acknowledged, the parties hereto agree as follows: 

1.    Commitment. 

1.1.    Expression of Interest. The Purchaser hereby expresses an interest to purchase up to 9.9% of the Public
Units sold in the IPO (excluding units sold pursuant to the underwriters’ over-allotment option) (the “Required Public Units”) at the IPO Unit Price (such amount referred to as the “IPO
Participation”). 

 1.2.    Priority. The Company hereby agrees that, if the
Purchaser purchases at least 4.95% of the Required Public Units in the IPO, prior to the issuance and sale of any equity securities of the Company pursuant to a PIPE Transaction in connection with its initial Business Combination, the Company shall
first irrevocably offer to issue and sell to the Purchaser on a private placement basis pursuant to this Agreement, Forward Purchase Securities (as defined herein) in an amount equal to the FPA Offering Amount. As used herein, “PIPE
Transaction” means a private placement of equity securities of the Company in connection with the Company’s initial Business Combination to institutional accredited investors solely in their capacity as such, and not due to the
unique status of an investor (or any affiliate thereof) in relation to the Business Combination or in relation to a party thereto other than the Company, such status including but not limited to (a) an existing ownership interest in any party
to the Business Combination other than the Company, (b) an intended cornerstone interest in the post-transaction company, as evidenced by governance rights, transfer restrictions, or other terms and conditions (other than registration rights)
not generally applicable to the holders of securities of the post-transaction company, (c) an existing or intended material or strategic commercial relationship with the post-transaction company, or (d) the role of such investor (or any
affiliate thereof) in the origination of such Business Combination. 
 1.3.    Offer to Sell. If the Company
desires to issue and sell equity securities pursuant to a PIPE Transaction in connection with the closing of the Company’s initial Business Combination, then no later than fifteen (15) days prior to entering into any definitive agreement
binding the Company to effect (subject to any conditions and qualifications set forth in such agreement) a Business Combination (a “Business Combination Agreement”), the Company shall give written notice to the Purchaser (an
“FPA Offering Notice”), which shall state the Company’s bona fide intention to enter into a Business Combination Agreement, and specify all relevant details of the proposed issuance of Forward Purchase Securities,
including (a) the FPA Offering Amount, (b) any conditions to the Closing of the sale and purchase of such Forward Purchase Securities not specified herein, and (c) the proposed form of any Subscription Agreement that may be required
to be executed by the Purchaser as a condition to such sale and purchase. 
 1.4.    Terms of the Forward Purchase
Securities. 
 1.4.1.    As used herein, “Forward Purchase Securities” means shares of
Common Stock (each, a “Forward Purchase Share”) at a price of $10.00 per Forward Purchase Share. 

  
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 1.4.2.    Except as provided in Section 3
below, following the Closing, each Forward Purchase Share shall have the same terms as a Public Share. For the avoidance of doubt, the Forward Purchase Shares do not constitute “Offering Shares” as defined in the Amended and Restated
Certificate of Incorporation of the Company (the “Certificate of Incorporation”) and, as such, do not have any rights of redemption, rights to conversion into cash, or rights to any liquidating distributions from any funds
held in the trust account established by the Company for the benefit of the Company’s public stockholders upon the IPO Closing (the “Trust Account”). 

1.5.    Confirmation by Purchaser. 

1.5.1.    Following delivery of an FPA Offering Notice, the Company will provide the Purchaser with applicable materials
and information to evaluate whether to elect to purchase Forward Purchase Securities, including the material terms of the proposed Business Combination and any other information reasonably requested by the Purchaser with respect to the proposed
Business Combination. All such materials and information will be subject to the terms of a non-disclosure agreement to be entered between the Company and the Purchaser in accordance with applicable law
(including Regulation FD under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) and the Company’s contractual obligations; provided, that the Company shall have the right to refuse to provide any
such materials or information if, in the opinion of the Company, acting reasonably and in good faith having received the advice of counsel, the provision of such materials or information could violate applicable laws or regulations or result in any
waiver of legal privilege of the Company; and provided, further, that if the target entity’s equity or debt securities are traded on a securities exchange or
over-the-counter market, prior to providing such materials and information, the Company will first provide only the name of the potential target to a legal or compliance
person designated by the Purchaser in writing as authorized to receive such information so that the recipient can determine if it has an internal restriction on the receipt of such materials or information. 

1.5.2.    The right and obligation of the Purchaser to purchase the Forward Purchase Securities at the Closing (defined
below) is subject to, among other conditions specified below, the Purchaser delivering to the Company, no later than fifteen (15) days after receipt of an FPA Offering Notice from the Company (or such later date as the Company may specify or
agree) written notice (each, a “Confirmation”) setting forth whether it elects, in its sole discretion, to accept such offer, and specifying the amount (the “Specified Amount”) of Forward Purchase
Securities that the Purchaser is willing to subscribe for and purchase at the Closing (as defined herein); provided, that the Specified Amount shall not exceed the FPA Offering Amount, without the prior written agreement of the Company. 

2.    Closing and Closing Conditions. 

2.1.    Closing of the Sale and Purchase of Securities. The consummation and settlement of the purchase and sale of
Forward Purchase Securities hereunder (the “Closing”) shall be held on and effective as of the date and time specified by the Company in the FPA 

  
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Offering Notice or pursuant to the terms of a Subscription Agreement, as applicable (the “Closing Date”). At the Closing, the Company will issue Forward Purchase
Securities to the Purchaser and in the amounts set forth in the applicable Confirmation, registered in the name of the Purchaser, against delivery of the applicable portion of the Purchase Price in cash via wire transfer to an account specified in
writing by the Company no later than three (3) business days prior to the Closing (or as otherwise provided in a Subscription Agreement). 

2.2.    Conditions to the Company’s Closing Obligations. The obligation of the Company to issue and sell the
Forward Purchase Securities to the Purchaser at the Closing under this Agreement shall be subject to the fulfillment, at or prior to the Closing, of each of the following conditions, any of which, to the extent permitted by applicable law, may be
waived by the Company: 
 2.2.1.    Offering Notice and Confirmation. The Company shall have delivered to the
Purchaser an FPA Offering Notice, and the Purchaser shall have delivered to the Company, the Confirmation, duly executed by the Purchaser. 

2.2.2.    Subscription Agreement. To the extent required by the Company, the Purchaser shall have executed and
delivered to the Company a subscription agreement in form and substance identical to (a) that executed and delivered by the Purchaser hereunder and (b) that executed and delivered by any other persons concurrently subscribing for equity
securities in the Company on a private placement basis, subject to such changes as may be required thereto so as to reflect, and not be inconsistent with, the terms and conditions of this Agreement (a “Subscription
Agreement”). Subject to this Section 2.2, the Subscription Agreement between the Company and the Purchaser shall be on terms no less favorable to the Purchaser than those terms offered to any Other PIPE
Investor (as defined below) who purchases a number of shares in the PIPE Transaction equal to or less than the number of Forward Purchase Securities purchased by the Purchaser hereunder, and the terms in the Subscription Agreement, when, as and if
executed, shall supersede the terms set forth in this Agreement. 
 2.2.3.    Business Combination Closing. The
Business Combination shall be consummated substantially concurrently with the purchase of the Forward Purchase Securities. 

2.2.4.    Representations and Warranties Correct. The representations and warranties made by the Purchaser in
Section 6.1 hereof shall be true and correct in all material respects when made and shall be true and correct in all material respects on and as of the Closing Date (unless they specifically speak as of another date in
which case they shall be true and correct in all material respects as of such date) with the same force and effect as if they had been made on and as of said date. 

2.2.5.    Performance of Covenants. All covenants, agreements and conditions contained in this Agreement to be
performed by the Purchaser on or prior to the Closing Date shall have been performed or complied with in all material respects. 

  
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 2.2.6.    No Injunction. No order, writ, judgment, injunction,
decree, determination, or award shall have been entered by or with any governmental, regulatory, or administrative authority or any court, tribunal, or judicial, or arbitral body, and no other legal restraint or prohibition shall be in effect,
preventing the purchase by the Purchaser of the Forward Purchase Securities. 
 2.2.7.    Additional Conditions.
All other conditions to the issuance and sale of the Forward Purchase Securities under this Agreement as may be specified by the Company in the FPA Offering Notice or pursuant to the terms of a Subscription Agreement, as applicable, shall have been
satisfied. 
 2.3.    Conditions to the Purchasers’s Closing Obligations. The obligation of the Purchaser to
purchase Forward Purchase Securities at the Closing under this Agreement shall be subject to the fulfillment, at or prior to the Closing, of each of the following conditions, any of which, to the extent permitted by applicable law, may be waived by
the Purchaser: 
 2.3.1.    Confirmation and Purchaser Joinders. The Purchaser shall have delivered to the
Company the Confirmation, duly executed by the Purchaser. 
 2.3.2.    Board Approval of Business Combination.
The Business Combination shall have been approved by a majority of the members, and a majority of the independent directors, of the board of directors of the Company (the “Board”). 

2.3.3.    Business Combination Closing. The Business Combination shall be consummated substantially concurrently
with the purchase of the Forward Purchase Securities. 
 2.3.4.    Blue Sky. The Company shall have obtained all
necessary “blue sky” law permits and qualifications, or secured an exemption therefrom, required by any state for the offer and sale of the Forward Purchase Securities. 

2.3.5.    Representations and Warranties Correct. The representations and warranties made by the Company in
Section 6.2 hereof shall be true and correct in all material respects when made and shall be true and correct in all material respects on and as of the Closing Date (unless they specifically speak as of another date in
which case they shall be true and correct in all material respects as of such date) with the same force and effect as if they had been made on and as of said date. 

2.3.6.    Covenants. All covenants, agreements and conditions contained in this Agreement to be performed by the
Company on or prior to the Closing Date shall have been performed or complied with in all material respects. 

2.3.7.    No Injunction. No order, writ, judgment, injunction, decree, determination, or award shall have been
entered by or with any governmental, regulatory, or administrative authority or any court, tribunal, or judicial, or arbitral body, and no other legal restraint or prohibition shall be in effect, preventing the purchase by the Purchaser of the
Forward Purchase Securities. 

  
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 2.3.8.    Additional Conditions. All other conditions to the
purchase of the Forward Purchase Securities under this Agreement as may be specified by the Company in the FPA Offering Notice or pursuant to the terms of a Subscription Agreement, as applicable, shall have been satisfied. 

3.    Restrictions on Transfer; Registration Rights. 

3.1.    Securities Law Restrictions. The Forward Purchase Securities are being offered and sold pursuant to an
exemption from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), will be “restricted securities” within the meaning of Rule 144(a)(3) under the Securities Act, and can
be offered, sold or transferred only pursuant to registration under the Securities Act or an available exemption from registration under the Securities Act. The Purchaser hereby agrees not to offer, sell, or transfer all or any part of the Forward
Purchase Securities unless, prior thereto (a) a registration statement on the appropriate form under the Securities Act and applicable state securities laws with respect to such Forward Purchase Securities proposed to be transferred shall then
be effective or (b) the Company has received an opinion of counsel for the Company that such registration is not required because such transaction is exempt from registration under the Securities Act and the rules promulgated by the SEC
thereunder and under all applicable state securities laws. All certificates representing Forward Purchase Securities shall have endorsed thereon a legend substantially as follows: 

“THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS AND
NEITHER THE SECURITIES NOR ANY INTEREST THEREIN MAY BE OFFERED, SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT OR SUCH LAWS OR AN AVAILABLE EXEMPTION FROM REGISTRATION UNDER
SUCH ACT AND SUCH LAWS.” 
 3.2.    Registration Rights. The Company hereby confirms and agrees that the
Purchaser and any subsequent holder of any Forward Purchase Securities sold and purchased hereunder will be entitled to registration rights with respect to such Forward Purchase Securities on substantially the same terms, if any, offered to any
purchaser in the PIPE Transaction (an “Other PIPE Investor”) who purchases a number of shares in the PIPE Transaction equal to or less than the number of Forward Purchase Securities purchased by the Purchaser hereunder (the
“Registration Rights Agreement”), provided that the Purchaser enters into any transfer or lock-up agreement executed by any Other PIPE Investor who purchases a number of shares in the
PIPE Transaction equal to or less than the number of Forward Purchase Securities purchased by the Purchaser hereunder. 

3.3.    No Short Sales. The Purchaser hereby agrees that neither it, nor any person or entity acting on its behalf
or pursuant to any understanding with it, will engage in any Short Sales with respect to securities of the Company prior to the Business Combination closing. For purposes of this Section 3.3, “Short
Sales” shall include, without limitation, all “short sales” as defined in Rule 200 promulgated under Regulation SHO under the Exchange Act, and all 

  
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types of direct and indirect stock pledges (other than pledges in the ordinary course of business as part of prime brokerage arrangements), forward sale contracts, options, puts, calls, swaps and
similar arrangements (including on a total return basis), and sales and other transactions through non-U.S. broker dealers or foreign regulated brokers. Notwithstanding the foregoing
Section 3.3, nothing shall restrict the Purchaser or its affiliates from engaging in any Short Sales with respect to securities of the Company in the ordinary course of its public markets investment and trading activities,
provided that such activities are conducted by employees, officers, directors, agents or consultants of the Purchaser or its affiliates that: (a) are effectively walled off by appropriate “ethical wall” information barriers in
accordance with the Purchaser’s internal policies, procedures and guidelines, or (b) are not on the deal team of the Purchaser involved with this Agreement and (i) have not had and will not have access to any non-public information concerning the Company, and (ii) have not been and will not be given advice with respect to transacting in securities of the Company by any person on the deal team of the Purchaser
involved with this Agreement. 
 4.    Additional Agreements and Acknowledgements. 

4.1.    No Vote on Business Combination. The Purchaser acknowledges and agrees that if the Company seeks stockholder
approval of a proposed Business Combination, the Forward Purchase Securities shall not be issued and outstanding as of the record date for any stockholder meeting at which such vote shall be held and, as such, none of the Forward Purchase Securities
shall be entitled to vote at any such meeting on the Business Combination or any other matter on which a vote is held thereat. 

4.2.    No Rights to Redemption or Liquidating Distributions. The Purchaser acknowledges and agrees that the
issuance and sale of the Forward Purchase Securities to the Purchaser, if any, is pursuant to a private placement of such securities and not pursuant to the IPO (and as such, no Forward Purchase Securities constitute “Offering Shares” as
defined in the Certificate of Incorporation), and is conditioned upon the substantially concurrent closing of a Business Combination. As such, the Purchaser further acknowledges and agrees that (a) neither the Purchaser nor any other holder of
any Forward Purchase Securities is entitled to participate with respect to any Forward Purchase Securities in any tender offer conducted by the Company in connection with any Business Combination, (b) neither the Purchaser nor any other holder
of any Forward Purchase Securities is entitled to elect to have any such Forward Purchase Securities converted into or redeemed for cash in connection with any Business Combination or any amendment of the Certificate of Incorporation, and
(c) neither the Purchaser nor any other holder of any Forward Purchase Securities is entitled to participate with respect to any Forward Purchase Securities in any liquidating distributions from the Trust Account. 

4.3.    Waiver of Claims Against Trust. The Purchaser hereby acknowledges that it is aware that the Company has
established the Trust Account for the benefit of the Company’s public stockholders upon the IPO Closing. The Purchaser hereby agrees that it has no right, title, interest or claim of any kind in or to any monies held in the Trust Account,
except for redemption and liquidation rights, if any, that the Purchaser may have in respect of any Public Shares that may be held by the Purchaser from time to time. The Purchaser hereby agrees that it shall have no right of set-off or any right, title, interest or claim of any kind (“Claim”) to, or to any monies in the Trust Account, and hereby irrevocably waives any Claim

  
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to, or to any monies in, the Trust Account that it may have now or in the future, except for redemption and liquidation rights, if any, that the Purchaser may have in respect of any Public Shares
held by the Purchaser from time to time. In the event the Purchaser has any Claim against the Company under this Agreement, the Purchaser shall pursue such Claim solely against the Company and its assets outside the Trust Account and not against the
property or any monies in the Trust Account. 
 4.4.    Disclosure. The Purchaser hereby acknowledges and
consents to the disclosure by the Company of the existence and terms of this Agreement, including without limitation in any confidential or public filing made with the SEC, and the inclusion of a copy of this Agreement as an exhibit to any such
filing. The Company shall (a) within four (4) business days following the IPO Closing, file with the SEC a Current Report on Form 8-K, disclosing the entry into this Agreement and attaching a copy of
this Agreement as an Exhibit thereto, unless previously filed with the SEC, and (b) within one (1) business day following the later of the execution and delivery of a Confirmation hereunder, or the entry into one or more Subscription
Agreements as may be required by the Company pursuant hereto, issue one or more press releases or file with the SEC a Current Report on Form 8-K disclosing all material terms of the transactions contemplated
hereby, the Business Combination and any other material, nonpublic information that the Company has provided to the Purchaser at any time prior to such filing. 

5.    Termination. 

5.1.    This Agreement may be terminated between the Company and the Purchaser at any time prior to the Closing by mutual
written consent of the Company and the Purchaser, and shall terminate automatically without further action by any party if, prior to the Closing: 

5.1.1.    A Business Combination is consummated by the Company without the issuance and sale by the Company of equity
securities through a PIPE Transaction in connection with such Business Combination; 
 5.1.2.    The Purchaser does not
deliver to the Company a Confirmation within the time specified hereby following delivery of an FPA Offering Notice by the Company to the Purchaser; 

5.1.3.    The Company does not consummate a Business Combination on or prior to the date that is 24 months following the
IPO Closing, or the Purchaser is otherwise liquidated or dissolved; 
 5.1.4.    The Purchaser or the Company becomes
subject to any voluntary or involuntary petition under the United States federal bankruptcy laws or any state insolvency law, in each case which is not withdrawn within sixty (60) days after being filed, or a receiver, fiscal agent or similar
officer is appointed by a court for business or property of such party, in each case which is not removed, withdrawn or terminated within sixty (60) days after such appointment. 

5.2.    In the event of any termination of this Agreement pursuant to this Section 5, any amount
of the Purchase Price paid by the Purchaser prior to such termination shall be 

  
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promptly returned to the Purchaser (without interest), and thereafter this Agreement shall forthwith become null and void and have no effect, without any liability on the part of any party and
all rights and obligations of each party shall cease; provided, however, that nothing contained in this Section 5 shall relieve any party from liabilities or damages arising out of any fraud or willful breach by such party
prior to such termination of any of its representations, warranties, covenants or agreements contained in this Agreement. 

6.    Representations and Warranties. 

6.1.    Representations and Warranties of Purchaser. Except for the specific representations and warranties
contained in this Section 6.1 and in any Subscription Agreement, if any, as may be delivered pursuant hereto, none of the Purchaser or any person acting on behalf of the Purchaser or any affiliate of the Purchaser (the
“Purchaser Parties”) has made, makes or shall be deemed to make any other express or implied representation or warranty with respect to the Purchaser or this offering, and the Purchaser Parties disclaim any such
representation or warranty. The Purchaser hereby represents and warrants to the Company as follows: 

6.1.1.    Organization and Authority. The Purchaser is duly organized, validly existing and in good standing under
the laws of the jurisdiction of its organization and has all requisite power and authority necessary to carry out the transactions contemplated by this Agreement. All entity action on the part of the Purchaser necessary for the authorization,
execution, delivery, and performance of this Agreement by the Purchaser and the consummation by the Purchaser of the transactions contemplated hereby has been taken. This Agreement constitutes the valid and legally binding obligation of the
Purchaser, enforceable against the Purchaser in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent conveyance or similar laws affecting the enforcement of creditors’ rights
generally and subject to general principles of equity (regardless of whether enforcement is sought in a proceeding at law or in equity). 

6.1.2.    No Conflicts or Consents. The execution and delivery of this Agreement by the Purchaser, and the
performance of this Agreement and the consummation by the Purchaser of the transactions contemplated hereby do not violate, conflict with or constitute a default under (a) the organizational documents of the Purchaser, (b) any agreement,
indenture or instrument to which the Purchaser is a party, (c) any law, statute, rule or regulation to which the Purchaser is subject, or (d) any agreement, order, judgment or decree to which the Purchaser is subject. No governmental,
administrative or other third-party consents or approvals are required, necessary or appropriate on the part of the Purchaser in connection with the transactions contemplated by this Agreement. 

6.1.3.    No Adverse Actions. There are no actions, suits, investigations or proceedings pending, threatened
against or affecting the Purchaser which (a) seek to restrain, enjoin, prevent the consummation of or otherwise affect the transactions contemplated by this Agreement or (b) question the validity or legality of any of such transactions or
seek to recover damages or to obtain other relief in connection with any such transactions. 

  
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 6.1.4.    Adequacy of Funds. At the time of the Closing, the
Purchaser will have available to it sufficient funds to satisfy its obligations under this Agreement. 

6.1.5.    No Brokers. No broker, finder or similar intermediary has acted for or on behalf of the Purchaser or any
of its respective affiliates in connection with this Agreement or the transactions contemplated hereby and no broker, finder, agent or similar intermediary is entitled to any broker’s, finder’s or similar fee or other commission in
connection therewith. 
 6.1.6.    Experience, Financial Capability and Suitability. The Purchaser is:
(a) sophisticated in financial and tax matters and is able to evaluate the risks and benefits of the investment in the Forward Purchase Securities and (b) able to bear the economic and tax risk of its investment in the Forward Purchase
Securities for an indefinite period of time because the Forward Purchase Securities have not been registered under the Securities Act and therefore cannot be sold unless subsequently registered under the Securities Act or an exemption from such
registration is available. The Purchaser is capable of evaluating the merits and risks of its investment in the Company and has the capacity to protect its own interests. The Purchaser must bear the economic and tax risk of this investment until the
Forward Purchase Securities are sold pursuant to an effective registration statement under the Securities Act or an exemption from such registration available with respect to such sale. The Purchaser is able to bear the economic and tax risks of an
investment in the Forward Purchase Securities and to afford a complete loss of the Purchaser’s investment in the Forward Purchase Securities. 

6.1.7.    Access to Information; Independent Investigation. Prior to the execution of this Agreement by the
Purchaser, the Purchaser has had the opportunity to ask questions of and receive answers from representatives of the Company concerning an investment in the Company, as well as the finances, operations, business and prospects of the Company, and the
opportunity to obtain additional information to verify the accuracy of all information so obtained. In determining whether to make this investment, the Purchaser has relied solely on the Purchaser’s own knowledge and understanding of the
Company and its business based upon the Purchaser’s own due diligence investigation and the information furnished pursuant to this paragraph. 

6.1.8.    Accredited Investor. The Purchaser is an “accredited investor” as such term is defined in Rule
501(a) of Regulation D under the Securities Act and acknowledges the sale contemplated hereby is being made in reliance on a private placement exemption applicable to “accredited investors” or similar exemptions under federal and state
law. 
 6.1.9.    Investment Purposes. The Purchaser is purchasing the Forward Purchase Securities solely for
investment purposes and not with a view towards the further distribution or dissemination thereof. The Purchaser did not decide to enter into this Agreement as a result of any general solicitation or general advertising within the meaning of Rule
502 under the Securities Act. 
 6.1.10.    Certain Acknowledgments. The Purchaser understands that (a) no
federal or state agency has passed upon or made any recommendation or endorsement of the offering of the Forward Purchase Securities; (b) no public market now exists for the Forward 

  
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Purchase Securities, and the Company has made no assurances that a public market will ever exist for the Forward Purchase Securities; and (c) its agreement to purchase the Forward Purchase
Securities involves a high degree of risk which could cause the Purchaser to lose all or part of its investment. 

6.1.11.    Restrictions on Transfer; Shell Company. The Purchaser understands that (A) the Forward Purchase
Securities are being offered in a transaction not involving a public offering within the meaning of the Securities Act, (B) the Forward Purchase Securities will be “restricted securities” within the meaning of Rule 144(a)(3) under the
Securities Act and any certificates representing the Forward Purchase Securities will contain a legend in respect of such restrictions, (C) the Forward Purchase Securities can be offered, sold or transferred only pursuant to registration under
the Securities Act or an available exemption from such registration, and as a condition precedent to any such transfer, the Purchaser may be required to deliver to the Company an opinion of counsel satisfactory to the Company, and (D) because
the Company is a shell company, Rule 144 may not be available to the Purchaser for the resale of the Forward Purchase Securities until one (1) year following the filing of a Form 8-K announcing the
consummation of the Business Combination. 
 6.1.12.    Residence. The Purchaser’s principal place of
business is the office or offices located at the address of the Purchaser set forth on the signature page to this Agreement executed by the Purchaser. 

6.1.13.    Affiliation of Certain FINRA Members. The Purchaser is neither a person associated nor affiliated with
any underwriter of the IPO or, to its actual knowledge, any other member of the Financial Industry Regulatory Authority (“FINRA”) that participated in the IPO. 

6.1.14.    Non-Reliance. Except for the specific representations and
warranties expressly made by the Company in Section 6.2 of this Agreement and in any Subscription Agreement, if any, as may be delivered pursuant hereto, the Purchaser has not relied and is not relying upon any other
representations or warranties that may have been made by any of the Company Parties (defined below) in connection with the transactions contemplated by this Agreement. 

6.2.    Representations and Warranties of the Company. Except for the specific representations and warranties
contained in this Section 6.2 and in any Subscription Agreement, if any, as may be delivered pursuant hereto, none of the Company, any person on behalf of the Company or any of the Company’s other affiliates
(collectively, the “Company Parties”) has made, makes or shall be deemed to make any other express or implied representation or warranty with respect to the Company, this offering, the IPO or a potential Business Combination,
and the Company Parties disclaim any such representation or warranty. The Company hereby represents and warrants to the Purchaser and agrees with the Purchaser as follows: 

6.2.1.    Organization and Authority. The Company is duly organized, validly existing and in good standing under
the laws of the state of Delaware and has all requisite power and authority necessary to carry out the transactions contemplated by this Agreement. All entity action on the part of the Company necessary for the authorization, execution, delivery,
and 

  
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performance of this Agreement by the Company and the consummation by the Company of the transactions contemplated hereby has been taken. This Agreement constitutes the valid and legally binding
obligation of the Company, enforceable against the Company in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency, fraudulent conveyance or similar laws affecting the enforcement of
creditors’ rights generally and subject to general principles of equity (regardless of whether enforcement is sought in a proceeding at law or in equity). 

6.2.2.    No Conflicts or Consents. The execution, delivery and performance of this Agreement and the consummation
by the Company of the transactions contemplated hereby do not violate, conflict with or constitute a default under (a) the organizational documents of the Company, (b) any agreement, indenture or instrument to which the Company is a party,
(c) any law, statute, rule or regulation to which the Company is subject, or (d) any agreement, order, judgment or decree to which the Company is subject. Assuming the accuracy of the representations and warranties made by the Purchaser in
this Agreement, no governmental, administrative or other third-party consents or approvals are required, necessary or appropriate on the part of the Company in connection with the transactions contemplated by this Agreement, other than such state
“blue sky,” FINRA and New York Stock Exchange consents and approvals as may be required. 
 6.2.3.    No
Adverse Actions. There are no actions, suits, investigations or proceedings pending, threatened against or affecting the Company which (a) seek to restrain, enjoin, prevent the consummation of or otherwise affect the transactions
contemplated by this Agreement or (b) question the validity or legality of any such transactions or seek to recover damages or to obtain other relief in connection with any such transactions. 

6.2.4.    Title to Securities. Upon issuance in accordance with, and payment pursuant to, the terms hereof, the
Forward Purchase Securities will be duly and validly issued, fully paid and non-assessable, as applicable. Upon issuance in accordance with, and payment by or on behalf of the Purchaser pursuant to, the terms
hereof, the Purchaser will have or receive good title to such Forward Purchase Securities, free and clear of all liens, claims and encumbrances of any kind, other than (a) transfer restrictions under federal and state securities laws, and
(b) liens, claims or encumbrances imposed due to the actions of the Purchaser. 
 6.2.5.    No General
Solicitation. No form of general solicitation or general advertising within the meaning of Regulation D of the Securities Act was used by the Company or any of its representatives in connection with the offer and sale of the Forward Purchase
Securities. 
 6.2.6.    No Disqualifying Event. No “bad actor” disqualifying event described in Rule
506(d)(1)(i)-(viii) of the Securities Act (a “Disqualification Event”) is applicable to the Company or, to the Company’s knowledge, any Company Covered Person (as defined below), except for a Disqualification Event as to
which Rule 506(d)(2)(ii-iv) or (d)(3), is applicable. “Company Covered Person” means, with respect to the Company as an “issuer” for purposes of Rule 506 promulgated under the
Securities Act, any Person listed in the first paragraph of Rule 506(d)(1). 

  
 12 

 6.2.7.    No Brokers. No broker, finder or similar intermediary
has acted for or on behalf of the Company or any of its respective affiliates in connection with this Agreement or the transactions contemplated hereby and no broker, finder, agent or similar intermediary is entitled to any broker’s,
finder’s or similar fee or other commission in connection therewith. 
 6.2.8.    Non-Reliance. Except for the specific representations and warranties expressly made by the Purchaser in Section 6.1 and in any Subscription Agreement, if any, as may be delivered
pursuant hereto, the Company has not relied and is not relying upon any other representations or warranties that may have been made by any of the Purchaser Parties in connection with the transactions contemplated by this Agreement. 

7.    General. 

7.1.    Further Assurances. Each party agrees to execute such further instruments and to take such further action as
may reasonably be necessary to carry out the intent of this Agreement. 
 7.2.    Notices. All notices and other
communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively given upon the earlier of actual receipt, or (a) personal delivery to the party to be notified, (b) when sent, if sent by
electronic mail during normal business hours of the recipient, and if not sent during normal business hours, then on the recipient’s next business day, (c) five (5) business days after having been sent by registered or certified mail,
return receipt requested, postage prepaid, or (d) one (1) business day after deposit with a nationally recognized overnight courier, freight prepaid, specifying next business day delivery, with written verification of receipt. All
communications to the Purchaser shall be sent to the Purchaser at the address set forth on the signature page to this Agreement or to such other address as the Purchaser may specify by written notice to the Company; and all communications to the
Company shall be sent to the following address or to such other address as the Company may specify by written notice to the Purchaser: 
 EG
Acquisition Corp. 
 375 Park Avenue, 24th Floor 

New York, NY 10152 
 Attn: Gregg
S. Hymowitz 
 with a copy to the Company’s counsel at: 

Willkie Farr & Gallagher LLP 

787 Seventh Avenue 
 New York, NY
10019 
 Attn: Steven A. Seidman; William H. Gump; Sean M. Ewen 

7.3.    Entire Agreement. This Agreement, together with the Registration Rights Agreement (if any) and any other
agreements that are delivered pursuant hereto or referenced 

  
 13 

 
herein, constitute the entire agreement and understanding of the parties hereto in respect of its subject matter and supersedes all prior understandings, agreements or representations by or among
the parties hereto, written or oral, to the extent they relate in any way to the subject matter hereof or the transactions contemplated hereby. 

7.4.    Amendments; Waivers. The terms and provisions of this Agreement as to the Purchaser may be modified or
amended only by written agreement by the Company and the Purchaser. The terms and provisions of this Agreement may be waived only by written document executed by the party entitled to the benefits of such terms or provisions. No such waiver shall be
deemed to be or shall constitute a waiver or consent with respect to any other terms or provisions of this Agreement, and any such waiver shall be effective only in the specific instance and for the purpose for which it was given and shall not
constitute a continuing waiver. 
 7.5.    Assignment. The rights and obligations under this Agreement may not be
assigned by any of the parties hereto without the prior written consent of the other party, except as expressly provided herein. 

7.6.    No Third-Party Beneficiaries. Nothing in this Agreement shall be construed to create any rights or
obligations except among the parties hereto, and no person or entity shall be regarded as a third-party beneficiary of this Agreement. 

7.7.    Governing Law; Jurisdiction. This Agreement and the rights and obligations of the parties hereunder shall
be construed in accordance with and governed by the laws of the State of New York applicable to contracts wholly performed within the borders of such state, without giving effect to the conflict of law principles thereof. Each party hereby agrees
that any action, proceeding or claim against it arising out of or relating in any way to this Agreement shall be brought and enforced in the courts of the State of New York or the United States District Court for the Southern District of New York,
irrevocably submits to such jurisdiction, and waives any objection that such courts represent an inconvenient forum. 

7.8.    Severability. In the event that any court of competent jurisdiction shall determine that any provision, or
any portion thereof, contained in this Agreement shall be unreasonable or unenforceable in any respect, then such provision shall be deemed limited to the extent that such court deems it reasonable and enforceable, and as so limited shall remain in
full force and effect. In the event that such court shall deem any such provision, or portion thereof, wholly unenforceable, the remaining provisions of this Agreement shall nevertheless remain in full force and effect. 

7.9.    No Waiver of Rights, Powers and Remedies. No failure or delay by a party hereto in exercising any right,
power or remedy under this Agreement, and no course of dealing between any parties hereto, shall operate as a waiver of any such right, power or remedy of such party. No single or partial exercise of any right, power or remedy under this Agreement
by a party hereto, nor any abandonment or discontinuance of steps to enforce any such right, power or remedy, shall preclude such party from any other or further exercise thereof or the exercise of any other right, power or remedy hereunder. The
election of any remedy by a party hereto shall not constitute a waiver of the right of such party to pursue other available remedies. No notice to or demand on a party not expressly required under this Agreement shall entitle the

  
 14 

 
party receiving such notice or demand to any other or further notice or demand in similar or other circumstances or constitute a waiver of the rights of the party giving such notice or demand to
any other or further action in any circumstances without such notice or demand. 
 7.10.    Survival of
Representations and Warranties. All representations and warranties made by the parties hereto in this Agreement or in any other agreement, certificate or instrument provided for or contemplated hereby, shall survive the execution and delivery
hereof and any investigations made by or on behalf of any of the parties. 
 7.11.    Headings and Captions. The
headings and captions of the various subdivisions of this Agreement are for convenience of reference only and shall in no way modify or affect the meaning or construction of any of the terms or provisions hereof. 

7.12.    Counterparts. This Agreement may be executed in one or more counterparts, all of which when taken together
shall be considered one and the same agreement. In the event that any signature is delivered by facsimile transmission or any other form of electronic delivery, such signature shall create a valid and binding obligation of the party executing (or on
whose behalf such signature is executed) with the same force and effect as if such signature page were an original thereof. 
 [Signature
Page Follows] 

  
 15 

 IN WITNESS WHEREOF, the undersigned have executed this Agreement effective as of the
date first set forth above. 
  

					
	COMPANY:
	
	EG ACQUISITION CORP.
		
	By:	 	  

		 	Name:	  	Gregg Hymowitz
		 	Title:	  	Chief Executive Officer

 [Signature Page to Forward Purchase Agreement] 

 
			
	PURCHASER:
	
	[PURCHASER NAME]
		
	By:	 	  

		 	Name:
		 	 Title:
 Address for Notices:

  
 [Signature Page
to Forward Purchase Agreement]ex_248440.htm

EXHIBIT 10.18

 

FIRST AMENDMENT TO CREDIT AGREEMENT

 

THIS FIRST AMENDMENT TO SECOND AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”), dated as of April 21, 2021, is by and among USANA HEALTH SCIENCES, INC., a Utah corporation (the “Borrower”), the Guarantors party hereto, the Lenders party hereto and BANK OF AMERICA, N.A., as administrative agent (in such capacity, the “Administrative Agent”).

 

 

W I T N E S S E T H

 

WHEREAS, the Borrower, certain Domestic Subsidiaries of the Borrower party from time to time party thereto (the “Guarantors”), certain banks and financial institutions from time to time party thereto (the “Lenders”) and the Administrative Agent are parties to that certain Second Amended and Restated Credit Agreement dated as of August 25, 2020 (as amended, modified, extended, restated, replaced, or supplemented from time to time, the “Credit Agreement”). Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed thereto in the Credit Agreement;

 

WHEREAS, the Loan Parties have requested that the Required Lenders amend certain provisions of the Credit Agreement; and

 

WHEREAS, the Required Lenders are willing to make such amendments to the Credit Agreement, in accordance with and subject to the terms and conditions set forth herein.

 

NOW, THEREFORE, in consideration of the agreements hereinafter set forth, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows:

 

ARTICLE I 

AMENDMENTS TO CREDIT AGREEMENT

 

1.1    New Definitions. The following definitions are hereby added to Section 1.1 of the Credit Agreement in the appropriate alphabetical order:

 

“ISDA Definitions” means the 2006 ISDA Definitions published by the International Swaps and Derivatives Association, Inc. or any successor thereto, as amended or supplemented from time to time, or any successor definitional booklet for interest rate derivatives published from time to time by the International Swaps and Derivatives Association, Inc. or such successor thereto.

 

“LIBOR Replacement Date” has the meaning specified in Section 3.03(c).

 

 

“LIBOR Successor Rate” has the meaning specified in Section 3.03(c).

 

 

“LIBOR Successor Rate Conforming Changes” means, with respect to any proposed LIBOR Successor Rate, any conforming changes to the definition of Base Rate, Interest Period, timing and frequency of determining rates and making payments of interest and other technical, administrative or operational matters (including, for the avoidance of doubt, the definition of Business Day, timing of borrowing requests or prepayment, conversion or continuation notices and length of lookback periods) as may be appropriate, in the discretion of the Administrative Agent, to reflect the adoption and implementation of such LIBOR Successor Rate and to permit the administration thereof by the Administrative Agent in a manner substantially consistent with

 

 

 

 

 

market practice (or, if the Administrative Agent determines that adoption of any portion of such market practice is not administratively feasible or that no market practice for the administration of such LIBOR Successor Rate exists, in such other manner of administration as the Administrative Agent determines is reasonably necessary in connection with the administration of this Agreement and any other Loan Document).

 

“Pre-Adjustment Successor Rate” has the meaning specified in Section 3.03(c).

 

 

“Related Adjustment” means, in determining any LIBOR Successor Rate, the first relevant available alternative set forth in the order below that can be determined by the Administrative Agent applicable to such LIBOR Successor Rate:

 

(A)    the spread adjustment, or method for calculating or determining such spread adjustment, that has been selected or recommended by the Relevant Governmental Body for the relevant Pre-Adjustment Successor Rate (taking into account the interest period, interest payment date or payment period for interest calculated and/or tenor thereto) and which adjustment or method (x) is published on an information service as selected by the Administrative Agent from time to time in its reasonable discretion or (y) solely with respect to Term SOFR, if not currently published, which was previously so recommended for Term SOFR and published on an information service acceptable to the Administrative Agent; or

 

(B)    the spread adjustment that would apply (or has previously been applied) to the fallback rate for a derivative transaction referencing the ISDA Definitions (taking into account the interest period, interest payment date or payment period for interest calculated and/or tenor thereto).

 

“Relevant Governmental Body” means the Federal Reserve Board and/or the Federal Reserve Bank of New York, or a committee officially endorsed or convened by the Federal Reserve Board and/or the Federal Reserve Bank of New York.

 

“SOFR” with respect to any Business Day means the secured overnight financing rate published for such day by the Federal Reserve Bank of New York, as the administrator of the benchmark (or a successor administrator) on the Federal Reserve Bank of New York’s website (or any successor source) at approximately 8:00 a.m. (New York City time) on the immediately succeeding Business Day and, in each case, that has been selected or recommended by the Relevant Governmental Body.

 

“Term SOFR” means the forward-looking term rate for any period that is approximately (as determined by the Administrative Agent) as long as any of the Interest Period options set forth in the definition of “Interest Period” and that is based on SOFR and that has been selected or recommended by the Relevant Governmental Body, in each case as published on an information service as selected by the Administrative Agent from time to time in its reasonable discretion.

 

1.2    Amendment to Definition of Eurodollar Rate. The definition of Eurodollar Rate set forth in Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

 

“Eurodollar Rate” means:

 

(a)    for any Interest Period with respect to a Eurodollar Fixed Rate Loan, the rate per annum equal to the London Interbank Offered Rate as administered by ICE Benchmark Administration (or any other Person that takes over the administration of such rate for U.S. Dollars (“LIBOR”), as published on the applicable Bloomberg screen page (or such other

 

2

 

 

commercially available source providing such quotations as may be designated by the Administrative Agent from time to time) for a period equal in length to such Interest Period (in such case, the “LIBOR Rate”) at or about 11:00 a.m., London time, two (2) Business Days prior to the commencement of such Interest Period, for Dollar deposits (for delivery on the first day of such Interest Period) with a term equivalent to such Interest Period; and

 

(b)    for any interest calculation with respect to a Eurodollar Floating Rate Loan on any date, the rate per annum equal to the fluctuating rate of interest which can change on each banking day. The rate will be adjusted on each banking day to equal LIBOR (or a comparable or successor rate which is approved by the Administrative Agent) for U.S. Dollar deposits for delivery on the date in question for a one month term beginning on that date. The Administrative Agent will use LIBOR as published by Bloomberg (or other commercially available source providing quotations of such rate as selected by the Administrative Agent from time to time) as determined at approximately 11:00 a.m. London time two (2) London Banking Days prior to the date in question, as adjusted from time to time in the Administrative Agent’s sole discretion pursuant to Section 3.04 for reserve requirements, deposit insurance assessment rates and other regulatory costs. If such rate is not available at such time for any reason, then the rate will be determined by such alternate method as reasonably selected by the Administrative Agent.

 

Notwithstanding the foregoing, for purposes of this Agreement, the Eurodollar Rate shall in no event be less than 0.00% at any time.

 

1.3    Amendment to Definition of Interest Period. The definition of Interest Period set forth in Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

 

“Interest Period” means, as to each Eurodollar Fixed Rate Loan, the period commencing on the date such Eurodollar Rate Loan is disbursed or converted to or continued as a Eurodollar Rate Loan and ending on the date one (1), three (3) or six (6) months thereafter (in each case, subject to availability), as selected by the Borrower in its Loan Notice; provided that:

 

(a)    any Interest Period that would otherwise end on a day that is not a Business Day shall be extended to the next succeeding Business Day unless such Business Day falls in another calendar month, in which case such Interest Period shall end on the next preceding Business Day;

 

(b)    any Interest Period that begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period) shall end on the last Business Day of the calendar month at the end of such Interest Period; and

 

(c)    no Interest Period shall extend beyond the Maturity Date of the Facility under which such Loan was made.

 

1.4    Amendment to Section 3.03. Section 3.03 of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

 

3.03  Inability to Determine Rates

 

(a)    If in connection with any request for a Eurodollar Rate Loan or a conversion to or continuation thereof, (i) the Administrative Agent determines that (A) Dollar deposits are not being offered to banks in the London interbank market for the applicable amount and Interest Period of such Eurodollar Rate Loan, or (B) (1) adequate and reasonable means do not exist for

 

3

 

 

determining the Eurodollar Rate for any requested Interest Period with respect to a proposed Eurodollar Fixed Rate Loan or in connection with an existing or proposed Eurodollar Floating Rate Loan and (2) the circumstances described in Section 3.03(c)(i) do not apply (in each case with respect to this clause (i), “Impacted Loans”), or (ii) the Administrative Agent or the Required Lenders determine that for any reason Eurodollar Rate for any requested Interest Period with respect to a proposed Eurodollar Rate Loan does not adequately and fairly reflect the cost to such Lenders of funding such Loan, the Administrative Agent will promptly so notify the Borrower and each Lender. Thereafter, the obligation of the Lenders to make or maintain Eurodollar Rate Loans shall be suspended (to the extent of the affected Eurodollar Rate Loans or Interest Periods) until the Administrative Agent (or, in the case of a determination by the Required Lenders described in clause (ii) of this Section 3.03(a), until the Administrative Agent upon instruction of the Required Lenders) revokes such notice. Upon receipt of such notice, the Borrower may revoke any pending request for a Borrowing of, conversion to or continuation of Eurodollar Rate Loans (to the extent of the affected Eurodollar Rate Loans or Interest Periods) or, failing that, will be deemed to have converted such request into a request for a Borrowing of Base Rate Loans in the amount specified therein.

 

(b)    Notwithstanding the foregoing, if the Administrative Agent has made the determination described in clause (a)(i) of this Section 3.03, the Administrative Agent in consultation with the Borrower, may establish an alternative interest rate for the Impacted Loans, in which case, such alternative rate of interest shall apply with respect to the Impacted Loans until (i) the Administrative Agent revokes the notice delivered with respect to the Impacted Loans under clause (a)(i) of this Section 3.03, (ii) the Administrative Agent or the Required Lenders notify the Administrative Agent and the Borrower that such alternative interest rate does not adequately and fairly reflect the cost to the Lenders of funding the Impacted Loans, or (iii) any Lender determines that any Law has made it unlawful, or that any Governmental Authority has asserted that it is unlawful, for such Lender or its applicable Lending Office to make, maintain or fund Loans whose interest is determined by reference to such alternative rate of interest or to determine or charge interest rates based upon such rate or any Governmental Authority has imposed material restrictions on the authority of such Lender to do any of the foregoing and provides the Administrative Agent and the Borrower written notice thereof.

 

(c)    Notwithstanding anything to the contrary in this Agreement or any other Loan Documents, if the Administrative Agent determines (which determination shall be conclusive absent manifest error), or the Borrower or Required Lenders notify the Administrative Agent (with, in the case of the Required Lenders, a copy to the Borrower) that the Borrower or Required Lenders (as applicable) have determined, that:

 

(ii)    adequate and reasonable means do not exist for ascertaining LIBOR for any Interest Period hereunder or any other tenors of LIBOR, including, without limitation, because the LIBOR Screen Rate is not available or published on a current basis and such circumstances are unlikely to be temporary; or

 

(iii)    the administrator of the LIBOR Screen Rate or a Governmental Authority having jurisdiction over the Administrative Agent or such administrator has made a public statement identifying a specific date after which LIBOR or the LIBOR Screen Rate shall no longer be made available, or used for determining the interest rate of loans, provided that, at the time of such statement, there is no successor administrator that is satisfactory to the Administrative Agent, that will continue to provide LIBOR after such specific date (such specific date, the “Scheduled Unavailability Date”); or

 

4

 

 

(iv)    the administrator of the LIBOR Screen Rate or a Governmental Authority having jurisdiction over such administrator has made a public statement announcing that all Interest Periods and other tenors of LIBOR are no longer representative; or

 

(v)    syndicated loans currently being executed, or that include language similar to that contained in this Section 3.03, are being executed or amended (as applicable) to incorporate or adopt a new benchmark interest rate to replace LIBOR;,

 

then, in the case of clauses (i)-(iii) above, on a date and time determined by the Administrative Agent (any such date, the “LIBOR Replacement Date”), which date shall be at the end of an Interest Period or on the relevant interest payment date, as applicable, for interest calculated and shall occur reasonably promptly upon the occurrence of any of the events or circumstances under clauses (i), (ii) or (iii) above and, solely with respect to clause (ii) above, no later than the Scheduled Unavailability Date, LIBOR will be replaced hereunder and under any Loan Document with, subject to the proviso below, the first available alternative set forth in the order below for any payment period for interest calculated that can be determined by the Administrative Agent, in each case, without any amendment to, or further action or consent of any other party to, this Agreement or any other Loan Document (the “LIBOR Successor Rate”; and any such rate before giving effect to the Related Adjustment, the “Pre-Adjustment Successor Rate”):

 

(x)    Term SOFR plus the Related Adjustement; and

 

(y)    SOFR plus the Related Adjustment;

 

and in the case of clause (iv) above, the Borrower and Administrative Agent may amend this Agreement solely for the purpose of replacing LIBOR under this Agreement and under any other Loan Document in accordance with the definition of “LIBOR Successor Rate” and such amendment will become effective at 5:00 p.m., on the fifth Business Day after the Administrative Agent shall have notified all Lenders and the Borrower of the occurrence of the circumstances described in clause (iv) above unless, prior to such time, Lenders comprising the Required Lenders have delivered to the Administrative Agent written notice that such Required Lenders object to the implementation of a LIBOR Successor Rate pursuant to such clause;

 

provided that, if the Administrative Agent determines that Term SOFR has become available, is administratively feasible for the Administrative Agent and would have been identified as the Pre-Adjustment Successor Rate in accordance with the foregoing if it had been so available at the time that the LIBOR Successor Rate then in effect was so identified, and the Administrative Agent notifies the Borrower and each Lender of such availability, then from and after the beginning of the Interest Period, relevant interest payment date or payment period for interest calculated, in each case, commencing no less than thirty (30) days after the date of such notice, the Pre-Adjustment Successor Rate shall be Term SOFR and the LIBOR Successor Rate shall be Term SOFR plus the relevant Related Adjustment.

 

The Administrative Agent will promptly (in one or more notices) notify the Borrower and each Lender of (x) any occurrence of any of the events, periods or circumstances under clauses (i) through (iii) above, (y) a LIBOR Replacement Date and (z) the LIBOR Successor Rate.

 

Any LIBOR Successor Rate shall be applied in a manner consistent with market practice; provided that to the extent such market practice is not administratively feasible for the Administrative Agent, such LIBOR Successor Rate shall be applied in a manner as otherwise reasonably determined by the Administrative Agent.

 

5

 

 

Notwithstanding anything else herein, if at any time any LIBOR Successor Rate as so determined would otherwise be less than 0.00%, the LIBOR Successor Rate will be deemed to be 0.00% for the purposes of this Agreement and the other Loan Documents.

 

In connection with the implementation of a LIBOR Successor Rate, the Administrative Agent will have the right to make LIBOR Successor Rate Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other Loan Document, any amendments implementing such LIBOR Successor Rate Conforming Changes will become effective without any further action or consent of any other party to this Agreement; provided that, with respect to any such amendment effected, the Administrative Agent shall post each such amendment implementing such LIBOR Successor Rate Conforming Changes to the Borrower and the Lenders reasonably promptly after such amendment becomes effective.

 

If the events or circumstances of the type described in 3.03(c)(i)-(iii) have occurred with respect to the LIBOR Successor Rate then in effect, then the successor rate thereto shall be determined in accordance with the definition of “LIBOR Successor Rate.”

 

(d)    Notwithstanding anything to the contrary herein, (i) after any such determination by the Administrative Agent or receipt by the Administrative Agent of any such notice described under Section 3.03(c)(i)-(iii), as applicable, if the Administrative Agent determines that none of the LIBOR Successor Rates is available on or prior to the LIBOR Replacement Date, (ii) if the events or circumstances described in Section 3.03(c)(iv) have occurred but none of the LIBOR Successor Rates is available, or (iii) if the events or circumstances of the type described in Section 3.03(c)(i)-(iii) have occurred with respect to the LIBOR Successor Rate then in effect and the Administrative Agent determines that none of the LIBOR Successor Rates is available, then in each case, the Administrative Agent and the Borrower may amend this Agreement solely for the purpose of replacing LIBOR or any then current LIBOR Successor Rate in accordance with this Section 3.03 at the end of any Interest Period, relevant interest payment date or payment period for interest calculated, as applicable, with another alternate benchmark rate giving due consideration to any evolving or then existing convention for similar U.S. dollar denominated syndicated credit facilities for such alternative benchmarks and, in each case, including any Related Adjustments and any other mathematical or other adjustments to such benchmark giving due consideration to any evolving or then existing convention for similar U.S. dollar denominated syndicated credit facilities for such benchmarks, which adjustment or method for calculating such adjustment shall be published on an information service as selected by the Administrative Agent from time to time in its reasonable discretion and may be periodically updated. For the avoidance of doubt, any such proposed rate and adjustments shall constitute a LIBOR Successor Rate. Any such amendment shall become effective at 5:00 p.m. on the fifth Business Day after the Administrative Agent shall have posted such proposed amendment to all Lenders and the Borrower unless, prior to such time, Lenders comprising the Required Lenders have delivered to the Administrative Agent written notice that such Required Lenders object to such amendment.

 

(e)    If, at the end of any Interest Period, relevant interest payment date or payment period for interest calculated, no LIBOR Successor Rate has been determined in accordance with clauses (c) or (d) of this Section 3.03 and the circumstances under clauses (c)(i) or (c)(iii) above exist or the Scheduled Unavailability Date has occurred (as applicable), the Administrative Agent will promptly so notify the Borrower and each Lender. Thereafter, (x) the obligation of the Lenders to make or maintain Eurodollar Rate Loans shall be suspended, (to the extent of the affected Eurodollar Rate Loans, Interest Periods, interest payment dates or payment periods), and (y) the Eurodollar Rate component shall no longer be utilized in determining the Base Rate, until the LIBOR Successor Rate has been determined in accordance with clauses (c) or (d). Upon

 

6

 

 

receipt of such notice, the Borrower may revoke any pending request for a Borrowing of, conversion to or continuation of Eurodollar Rate Loans (to the extent of the affected Eurodollar Rate Loans, Interest Periods, interest payment dates or payment periods) or, failing that, will be deemed to have converted such request into a request for a Committed Borrowing of Base Rate Loans (subject to the foregoing clause (y)) in the amount specified therein.

 

ARTICLE II 

CONDITIONS TO EFFECTIVENESS

 

2.1    Closing Conditions. This Amendment shall become effective as of the day and year set forth above (the “Amendment Effective Date”) upon satisfaction of the following conditions (in each case, in form and substance reasonably acceptable to the Administrative Agent) on or prior to April 30, 2021:

 

(a)    Executed Amendment. The Administrative Agent shall have received a copy of this Amendment duly executed by each of the Loan Parties, the Required Lenders and the Administrative Agent.

 

(b)    Default. After giving effect to this Amendment, no Default or Event of Default shall exist.

 

(c)    Miscellaneous. All other documents and legal matters in connection with the transactions contemplated by this Amendment shall be reasonably satisfactory in form and substance to the Administrative Agent and its counsel.

 

 

ARTICLE III MISCELLANEOUS

 

3.1    Amended Terms. On and after the Amendment Effective Date, all references to the Credit Agreement in each of the Loan Documents shall hereafter mean the Credit Agreement as amended by this Amendment. Except as specifically amended hereby or otherwise agreed, the Credit Agreement is hereby ratified and confirmed and shall remain in full force and effect according to its terms.

 

3.2    Representations and Warranties of Loan Parties. Each of the Loan Parties represents and warrants as follows:

 

(a)    It has taken all necessary action to authorize the execution, delivery and performance of this Amendment.

 

(b)    This Amendment has been duly executed and delivered by such Person and constitutes such Person’s legal, valid and binding obligation, enforceable in accordance with its terms, except as such enforceability may be subject to (i) bankruptcy, insolvency, reorganization, fraudulent conveyance or transfer, moratorium or similar laws affecting creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding at law or in equity).

 

(c)    No consent, approval, authorization or order of, or filing, registration or qualification with, any court or governmental authority or third party is required in connection with the execution, delivery or performance by such Person of this Amendment.

 

7

 

 

 

(d)    The representations and warranties set forth in Article V of the Credit Agreement are true and correct as of the date hereof (except for those which expressly relate to an earlier date).

 

(e)    After giving effect to this Amendment, no event has occurred and is continuing which constitutes a Default or an Event of Default.

 

(f)    The Obligations are not reduced or modified by this Amendment and are not subject to any offsets, defenses or counterclaims.

 

3.3    Reaffirmation of Obligations. Each Loan Party hereby ratifies the Credit Agreement and acknowledges and reaffirms (a) that it is bound by all terms of the Credit Agreement applicable to it and (b) that it is responsible for the observance and full performance of its respective Obligations.

 

3.4    Loan Document. This Amendment shall constitute a Loan Document under the terms of the Credit Agreement.

 

3.5    Expenses. The Borrower agrees to pay all reasonable costs and expenses of the Administrative Agent in connection with the preparation, execution and delivery of this Amendment, including without limitation the reasonable fees and expenses of the Administrative Agent’s legal counsel.

 

3.6    Further Assurances. The Loan Parties agree to promptly take such action, upon the request of the Administrative Agent, as is necessary to carry out the intent of this Amendment.

 

3.7    Entirety. This Amendment and the other Loan Documents embody the entire agreement among the parties hereto and supersede all prior agreements and understandings, oral or written, if any, relating to the subject matter hereof.

 

3.8    Counterparts; Telecopy. This Amendment may be executed in any number of counterparts, each of which when so executed and delivered shall be an original, but all of which shall constitute one and the same instrument. Delivery of an executed counterpart of a signature page of this Amendment or any other document required to be delivered hereunder, by fax transmission or e-mail transmission (e.g. “pdf” or “tif”) shall be effective as delivery of a manually executed counterpart of this Agreement. Without limiting the foregoing, upon the request of any party, such fax transmission or e- mail transmission shall be promptly followed by such manually executed counterpart.

 

3.9    No Actions, Claims, Etc. As of the date hereof, each of the Loan Parties hereby acknowledges and confirms that it has no knowledge of any actions, causes of action, claims, demands, damages and liabilities of whatever kind or nature, in law or in equity, against the Administrative Agent, the Lenders, or the Administrative Agent’s or the Lenders’ respective officers, employees, representatives, agents, counsel or directors arising from any action by such Persons, or failure of such Persons to act under the Credit Agreement on or prior to the date hereof.

 

3.10    GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

 

3.11    Successors and Assigns. This Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.

 

8

 

 

 

3.12    Consent to Jurisdiction; Service of Process; Waiver of Jury Trial. The jurisdiction, service of process and waiver of jury trial provisions set forth in Sections 11.14 and 11.15 of the Credit Agreement are hereby incorporated by reference, mutatis mutandis.

 

 

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9

 

 

 

IN WITNESS WHEREOF the parties hereto have caused this Amendment to be duly executed on the date first above written.

 

	BORROWER:    	USANA HEALTH SCIENCES, INC., a Utah corporation
	 	By:                                                                                          
	 	Name: Jim H. Brown
	 	Title: President
	 	 
	GUARANTORS: 	USANA ACQUISITION CORP., a Utah corporation
	 	By:                                                                                        
	 	Name: Jim H. Brown
	 	Title: President
	 	 
	 	USANA SENSÉ COMPANY, INC., a Utah corporation
	 	By:                                                                                       
	 	Name: Jim H. Brown
	 	Title: President
	 	 
	 	USANA HEALTH SCIENCES NEW ZEALAND, INC. a Delaware corporation
	 	By:                                                                                       
	 	Name: Jim H. Brown
	 	Title: President
	 	 
	 	USANA CANADA HOLDING, INC. a Delaware corporation
	 	By:                                                                                       
	 	Name: Jim H. Brown
	 	Title: President

 

 

 

 

	 	FMG PRODUCTIONS, INC., a Utah corporation
	 	By:                                                                                      
	 	Name: Jim H. Brown
	 	Title: President
	 	 
	 	INTERNATIONAL HOLDINGS, INC., a Delaware corporation
	 	By:                                                                                       
	 	Name: Jim H. Brown
	 	Title: President
	 	 
	 	USANA HEALTH SCIENCES CHINA, INC., a Delaware corporation
	 	By:                                                                                      
	 	Name: Jim H. Brown
	 	Title: President
	 	 
	 	PET LANE, INC., a Delaware corporation
	 	By:                                                                                                        
	 	Name: Jim H. Brown
	 	Title: President
	 	 
	 	UHS ESSENTIAL HEALTH PHILIPPINES, INC., a Utah corporation
	 	By:                                                                                     
	 	Name: Jim H. Brown
	 	Title: President

        

 

 

 

	ADMINISTRATIVE AGENT:	BANK OF AMERICA, N.A., in its capacity as Administrative Agent
	 	By:                                                                                     
	 	Name: Donald Schulke
	 	Title: Senior Vice President
	 	 
	LENDERS:	BANK OF AMERICA, N.A., in its capacity as Lender
	 	By:                                                                                     
	 	Name: Donald Schulke
	 	Title: Senior Vice President

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