Document:

SECOND CONSENT AND AGREEMENT

                         OF HOLDERS OF SERIES B NOTES

                             OF DENAMERICA CORP.

                         Dated as of March ___, 1998

     WHEREAS, the undersigned are holders ("Holders") of Series B 13%

Subordinated Notes due 2003 (the "Series B Notes") of DenAmerica Corp., a

Georgia corporation ("DenAmerica"), copies of which are attached as Exhibit

A hereto, issued pursuant to that certain Indenture (Series B Notes) dated

March 29, 1996 (the "Indenture") as amended by the Supplemental Indenture

dated as of July 3, 1996 (the "Supplemental Indenture"), attached hereto as

Exhibit B (together, the Indenture and the Supplemental Indenture are

referred to herein as the "Indenture"), between DenAmerica and State Street

Bank and Trust Company, as Trustee ("Trustee");

     WHEREAS, the Holders previously entered into a Consent and Agreement of

Holders of Series B Notes of DenAmerica Corp., dated as of September 30, 1997

(the "First Consent"), with respect to the matters set forth therein;

     WHEREAS, DenAmerica is entering into or consummating (i) an Asset

Purchase Agreement, dated January 27, 1998, among DenAmerica, Olajuwon

Holdings, Inc., and Akinola Olajuwon, as amended by the First Amendment to

Asset Purchase Agreement dazed March 16, 1998, substantially in the form

attached as Exhibit C  hereto (together, the "Asset Purchase Agreement");

(ii) the exercise of the special repurchase option with respect to the

Senior

Subordinated Promissory Note originally issued July 3, 1996, and transferred

in favor of' Donaldson, Lufkin & Jenrette Securities Corporation on February

12, 1998, as described in the documents attached as Exhibit D hereto (the

"Note Repurchase"); (iii) an Amendment and Limited Waiver dated March ___,

1998 among DenAmerica, the Banks set forth therein, and Banque Paribas, as

Agent, substantially in the form attached as Exhibit E hereto (the "Paribas

Consent"); and (iv) the Consent of CNL Entities dated as of March ___, 1998,

substantially in the form attached as Exhibit F hereto (the "CNL Consent").

     WHEREAS, the Holders are officers and/or directors of DenAmerica, or

affiliates of such officers and/or directors, and as such will benefit from

the transactions described in and contemplated by the Asset Purchase

Agreement, the Note Repurchase, the Paribas Consent, and the CNL Consent.

     WHEREAS, the Holders are familiar with the terms and conditions of the

Asset Purchase Agreement, the Note Repurchase, the Paribas Consent, the CNL

Consent, the Indenture, and the Series B Notes.

     NOW THEREFORE, for good and valuable consideration, the sufficiency and

receipt of which is hereby acknowledged by the undersigned Holders, the

undersigned Holders agree for the benefit DenAmerica and its affiliates as

follows:

     1.  CONSENT AND APPROVAL.  Notwithstanding any provision of the Series

B Notes, or the Indenture, the undersigned Holders do hereby consent to and

approve (i) the deferral of any

payments to the undersigned Holders due on March 29, 1998, under the terms of

the Series B Notes, or the First Consent, including, without limitation, the

deferral of any deferred interest which previously has been deferred under

the First Consent, all until September 29, 1998 (the "Deferral"); (ii) the

execution and delivery of the Asset Purchase Agreement, the Note Repurchase,

the Paribas Consent, the CNL Consent, and all transactions in connection with

or relating to any such agreements; (iii) the waiver of (a) any "Default" or

"Event of Default", as those terms are defined in the Indenture, by

DenAmerica (b) any currently existing violations by DenAmerica of any of the

provisions of the Indenture, including, without limitation, (A) the Article

IV Covenants of the Indenture, including, without limitation, the Limitation

on Additional Indebtedness of Section 4.9 of the Indenture, the Limitation on

Investments of Section 4.10 of the Indenture, the Limitation on Mergers,

Sales, etc. of Section 4.11 of the Indenture, the Issuance of Equity

Securities of Section 4.13 of the Indenture, and the Financial Covenants of

Section 4.15 of the Indenture, and (B) the Article VIII Subordination

Provisions of the Indentures, as a result of the First Consent, the Deferral,

the Asset Purchase Agreement, the Note Repurchase, the Paribas Consent, the

CNL Consent, or any transactions in connection with or relating to such

agreements, or any prior transactions of DenAmerica or its affiliates

inconsistent with the provisions of the Indenture.

     2.  NOTICES.  All notices, requests, demands, and other communications

required or permitted under this Agreement shall be in writing and shall be

deemed to have been duly given, made and received when delivered against

receipt or upon actual receipt of registered or certified mail, postage

prepaid, return receipt requested, addressed as set forth below:

          (a)  If to Holders:

               The address of Holders on the books
               and records of DenAmerica

          (b)  If to DenAmerica:

               DenAmerica Corp.
               7373 N. Scottsdale Road, Suite D-120
               Scottsdale, Arizona 85253
               Attention:  Jack M. Lloyd
               Phone:      (602) 483-7055
               Fax:        (602) 483-9592

               with a copy to:

               O'Connor, Cavanagh, Anderson,
               Killingsworth & Beshears, P.A.
               One East Camelback, Suite 1100
               Phoenix, Arizona 85012
               Attention: Robert S. Kant, Esq.
               Phone:     (602) 263-2606
               Fax:       (602) 263-2900

Any party may alter the address to which communications or copies are to be

sent by giving notice of such change of address in conformity with the

provisions of this paragraph for the giving of notice.

     3.  EXECUTION IN COUNTERPARTS.  This Agreement may be executed in any

number of counterparts, each of which shall be deemed to be an original as

against any party whose signature appears thereon, and all of which shall

together constitute one and the same instrument.

This Agreement shall become binding when one or more counterparts hereof,

individually or taken together, shall bear the signatures of all of the

parties reflected hereon as the signatories. Any photographic or xerographic

copy of this Agreement, with all signatures reproduced on one or more sets of

signature pages, shall be considered for all purposes as if it were an

executed counterpart of this Agreement.

     4.  PROVISIONS SEPARABLE.  The provisions of this Agreement are

independent and separable from each other, and no provision shall be affected

or rendered invalid or unenforceable by virtue of the fact that for any

reason any other or others of them may be invalid or unenforceable in whole

or in part.

     5.  NUMBER OF DAYS.  In computing the number of days for purposes of

this Agreement, all days shall be counted, including, but not limited to,

Saturdays, Sundays, and bank holidays; provided, however, that if the final

day of any time period falls on a Saturday, Sunday, or bank holiday, then the

final day shall be deemed to be the next day which is not a Saturday, Sunday,

or bank holiday.

     6.  BINDING NATURE OF AGREEMENT; ASSIGNMENT.  This Agreement shall be

binding upon and inure to the benefit of the parties hereto and their

respective heirs, personal representatives, successors, and assigns, except

that no party may assign or transfer its or his rights or obligations under

this Agreement without the prior written consent of the other parties hereto.

Nothing in this Agreement is intended to confer any rights or benefits to any

third party.

     7.  ENTIRE AGREEMENT.  This Agreement together with the exhibits and

schedules hereto contains the entire agreement and understanding among the

parties hereto with respect to the subject matter hereof, and supersedes all

prior and contemporaneous agreements, understandings, inducements and

conditions, express or implied, oral or written, of any nature whatsoever

with respect to the subject matter hereof.  The express terms hereof control

and supersede any course of performance and/or usage of the trade

inconsistent with any of the terms hereof. This Agreement may not be modified

or amended other than by an agreement in writing.

     8.  CONTROLLING LAW; VENUE.  This Agreement and all questions relating

to its validity, interpretation, performance and enforcement, shall be

governed by and construed, interpreted and enforced in accordance with the

laws of the state of Arizona, notwithstanding any Arizona or other conflict-

of-law provisions to the contrary. In the event there is any dispute arising

under any provisions of this Agreement, whether in a court of law or

otherwise, the parties agree that the venue for such dispute shall be in

Maricopa County, Arizona.

     9.  SCHEDULES AND EXHIBITS.  All Schedules and Exhibits referred to

herein or attached hereto are hereby incorporated by reference into, and made

a part of, this Agreement. The form of any such Schedule or Exhibit may be

delivered by the parties after the execution of this Agreement and shall be

as mutually agreed by the parties.

     10.  INDULGENCES, NOT WAIVERS.  Neither the failure nor any delay on the

part of a party to exercise any right, remedy, power, or privilege under this

Agreement shall operate as a waiver thereof, nor shall any single or partial

exercise of any right, remedy, power, or privilege

preclude any other or further exercise of the same or of any other right,

remedy, power, or privilege, nor shall any waiver of any right, remedy,

power, or privilege with respect to any occurrence be construed as a waiver

of such right, remedy, power, or privilege with respect to any other

occurrence. No waiver shall be effective unless it is in writing and is

signed by the party asserted to have granted such waiver.

     IN WITNESS WHEREOF, DenAmerica and the Holders have executed and

delivered this Agreement as of the date first above written.

DENAMERICA:
----------

DENAMERICA CORP., a Georgia corporation

By: /s/ Todd S. Brown
    -----------------------------------

Name: Todd Brown
     ----------------------------------

Its: Vice President
     ----------------------------------

HOLDERS:
-------

/s/ Jack M. Lloyd
--------------------------------------
Jack M. Lloyd

/s/ Cathy L. Lloyd
--------------------------------------
Cathy L. Lloyd

/s/ William J. Howard
--------------------------------------
William J. Howard

/s/ Aileen W. Howard
--------------------------------------
Aileen W. HowardJune 30, 1999

CNL APF Partners, LP
400 East South Street, Suite 500
Orlando, FL 32801
attn:  Brent Heaton

     Re:  Credit Assignment, the Waivers Agreement, and the execution
          of the Interim Note, the Consolidated Note, the Equipment
          Commitment, the Debt Commitment, and any and all documents
          necessary to effectuate the terms of the Equipment
          Commitment and the Debt Commitment, all as defined herein.

To Whom It May Concern:

     We are aware that DenAmerica Corp., Inc. ("DenAmerica"), entered into
financing arrangements under (i) that certain Amended and Restated Credit
Agreement dated as of July 3, 1996 (the "BP Agreement") with certain "Banks"
named therein, including Banque Paribas (now known as Paribas, ("Paribas")),
also as "Agent" under such BP Agreement (as amended, restated, supplemented
or otherwise modified to the date hereof), and (ii) all the related Loan
Documents (as such term is defined in the BP Agreement) (the BP Agreement and
the Loan Documents herein collectively, the "Credit Agreement"). It is our
understanding that in connection with an interim refinancing the parties to
the Credit Agreement shall on or about June 30, 1999, assign certain rights
and obligations of the "Agent" and the "Banks" under the Credit Agreement to
APF and APF shall as of such date, accept such assignment, in accordance with
the terms and conditions of that certain Omnibus Agreement dated as of June
30, 1999, by and among the parties to the Credit Agreement and APF, which
assignment of the Credit Agreement shall after giving effect thereto, is
herein sometimes referred to as the "Credit Assignment". Further, APF will
concurrently therewith fund certain additional monies to DenAmerica as
evidenced by that certain Interim Balloon Promissory Note dated June 30, 1999
from DenAmerica to APF in the original principal amount of $5,439,155.97 (the
"Interim Note"), which Interim Note will be consolidated with the notes
evidencing the indebtedness outstanding under the Credit Agreement and that
certain Promissory Note dated effective as of June 30, 1998 in the original
principal amount of $2,200,000.00 by DenAmerica to APF, all of which notes
shall be consolidated into that certain Consolidated Interim Balloon
Promissory Note dated June 30, 1999 from DenAmerica to APF in the original
principal amount of $22,300,000.00 (the "Consolidated Note") in accordance
with the terms and conditions of that certain Waivers and Agreement to Amend
and Restate dated as of the date hereof by and between DenAmerica, DenAm,
Inc. ("DenAm"), and Black-Eyed Pea, U.S.A., Inc. ("BEP") and APF ("Waivers
Agreement").

     Furthermore, it is the express intent of APF, DenAmerica, BEP, and
DenAm, to enter into certain further transactions in order to amend and
restate the Consolidated Note and the financing of DenAmerica's (and certain
of its affiliates) outstanding obligations under the Credit Agreement and
other financing arrangements by and among DenAmerica (or certain of its
affiliates) and APF

(and certain of its affiliates) in accordance with the terms and provisions
of that certain commitment letter by CNL Fund Advisors, Inc. to DenAmerica
dated April 14, 1999, as assigned to APF and amended by that certain
amendment dated as of June 30, 1999 (the "Equipment Commitment") and that
certain commitment letter by CNL Financial Services, Inc. to DenAmerica dated
April 14, 1999, as assigned to APF and amended by that certain amendment
dated as of June 30, 1999 (the "Debt Commitment") (which further
transactions, herein are sometimes collectively referred to as "Phase Two").

     In order to allow DenAmerica to proceed with the execution of the
Omnibus Agreement, the Credit Assignment, the Consolidated Note, the Interim
Note, the Equipment Commitment, the Debt Commitment, and any and all
documents necessary to effectuate the terms of the Equipment Commitment and
the Debt Commitment, we do hereby:

     (a) acknowledge and to the extent required, if any, approve and consent
to the Credit Assignment, the Waivers Agreement, and the execution of the
Interim Note, the Consolidated Note, the Equipment Commitment, the Debt
Commitment, and any and all documents necessary to effectuate the terms of
the Equipment Commitment and the Debt Commitment and confirm that we have no
set-off rights or claims against DenAmerica, BEP, DenAm, or APF in connection
therewith, and to the extent any such rights exist we hereby waive the same;

     (b) acknowledge and waive all outstanding defaults under (i) the Series
B 13% Subordinated Note due March 29, 2003 in the original principal amount
of $11,196,000.00, executed by DenAmerica in favor of Jack M. Lloyd and Cathy
L. Lloyd, and (ii) Series B 13% Subordinated Note due March 29, 2003 in the
original principal amount of $5,598,000.00 executed by DenAmerica in favor of
William J. Howard and Aileen W. Howard (together the "Series B Notes"); and

     (c) acknowledge and conditionally agree (to the extent required, if any)
that any and all rights, remedies and restrictions set forth in the Series B
Notes, including without limitation the restriction against transfer of the
Series B Notes and the restrictions against the change in control of
DenAmerica, upon closing of Phase Two will be made available to CNL Growth
Corp., a Florida corporation, on a pari passu basis with us, under that
certain (i) Promissory Note (Subordinated) dated September 30, 1997 from
DenAmerica to and in favor of CNL Growth Corp. in the original principal
amount of $7,700,000.00, and (ii) 5-Year 5% Convertible Redeemable Debenture
from DenAmerica to and in favor of CNL Growth Corp. in the original principal
amount of $4,400,000.00. This agreement set forth in this paragraph (c) is
conditioned on the closing of Phase Two, which includes among other things
the assignment to us and CNL Growth Corp. of the excess collateral held by
APF as a result of the Credit Assignment which is not a part of the property
to serve as collateral for the Equipment Commitment and the Debt Commitment.

     We are aware that the execution of this letter is a condition to (i) the
Credit Assignment, (ii) the lending of the monies evidenced by the Interim
Note, (iii) the Waivers Agreement, and (v) the execution of the Consolidated
Note, the Equipment Commitment, the Debt Commitment, and

any and all documents necessary to effectuate the terms of the Equipment
Commitment and the Debt Commitment. We also agree that the provisions of this
letter shall inure to the benefit of DenAmerica, BEP and DenAm and each of
their affiliates.

                                        Sincerely,

                                        /s/ Jack M. Lloyd
                                        ---------------------------------
                                        JACK M. LLOYD

                                        /s/ Cathy L. Lloyd
                                        ---------------------------------
                                        CATHY L. LLOYD

                                        /s/ William J. Howard
                                        ---------------------------------
                                        WILLIAM J. HOWARD

                                        /s/ Aileen W. Howard
                                        ---------------------------------
                                        AILEEN W. HOWARD

Agreed to and acknowledged this 30th
day of June, 1999 by:

CNL APF PARTNERS, LP, a Delaware limited partnership

BY:  CNL APF GP Corp., a Delaware
     corporation, as general partner

     By: /s/ John T. Walker
         -------------------------------------------
         John T. Walker, Executive Vice President

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