Document:

fred-ex101_77.htm

 

Exhibit 10.1

 

6042667_5

 
THIRD AMENDMENT TO  FORBEARANCE 
AGREEMENT AND ELEVENTH AMENDMENT TO CREDIT AGREEMENT

THIS THIRD AMENDMENT TO  FORBEARANCE AGREEMENT AND ELEVENTH AMENDMENT TO CREDIT AGREEMENT (this "Amendment") is dated as of July 12, 2019, by and among (A) Fred's, Inc., a Tennessee corporation ("Parent"); (B) the Subsidiaries of Parent identified on the signature pages hereto as Borrowers (each of such Subsidiaries, together with Parent, jointly and severally, "Borrowers" and, each, a "Borrower"); (C) the Subsidiaries of Parent identified as Guarantors on the signature pages hereto (each of such Subsidiaries, jointly and severally, "Guarantors" and, each, a "Guarantor"; Guarantors, together with Borrowers, jointly and severally, "Loan Parties" and, each, a "Loan Party"); (D) the Lenders party to the Credit Agreement (as defined below); (E) the Co-Collateral Agents party to the Credit Agreement (as defined below); and (F) Regions Bank, an Alabama bank, in its capacity as administrative agent for Lenders, LC Issuers and other Secured Parties (as defined in the Credit Agreement) (in such capacity, "Administrative Agent").

 

Recitals:

Loan Parties, Lenders, Swingline Lender, LC Issuers, Co-Collateral Agents and Administrative Agent have entered into that certain Credit Agreement dated as of April 9, 2015 (as amended, restated, supplemented, or otherwise modified from time to time, the "Credit Agreement").

Loan Parties, Lenders, Co-Collateral Agents, Administrative Agent and certain other parties have entered into that certain Forbearance Agreement, Eighth Amendment to Credit Agreement and Fourth Amendment to Amended and Restated Addendum to Credit Agreement dated May 15, 2019 (as  amended, restated, supplemented, or otherwise modified from time to time, the "Forbearance Agreement").

Loan Parties have requested that Administrative Agent, Co-Collateral Agents and Lenders amend certain provisions of the Forbearance Agreement to add the 129 "front stores" listed on Exhibit E to this Amendment to the Store Closure and Closed Store Property Liquidation.

Loan Parties also have requested that Administrative Agent, Co-Collateral Agents and Lenders amend certain provisions of the Credit Agreement to permit Loan Parties to sell the Pharmacy Scripts for, and certain related assets located at, Loan Parties' pharmacy locations in Albany, Kentucky (pharmacy number 1664) and Iuka, Mississippi (pharmacy number 1911) (such assets, the "Pharmacy Script Assets"; such sales, the "Pharmacy Script Sales").

Administrative Agent, Co-Collateral Agents and Lenders have agreed to such amendments, subject to the terms and conditions hereof.

Statement of Agreement:

NOW, THEREFORE, for and in consideration of the above premises and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged by the parties hereto, Loan Parties, Administrative Agent, Co-Collateral Agents and Lenders hereby covenant and agree as follows:

SECTION 1.Definitions; Rules of Construction.  Unless otherwise specifically defined herein, each capitalized term used herein (and in the recitals above) that is defined in the Credit 

 

 

Agreement shall have the meaning assigned to such term in the Credit Agreement, including capitalized terms that pursuant to Section 1.3 of the Credit Agreement are defined by reference to their definitions in the UCC.  Each reference to "hereof," "hereunder," "herein," and "hereby" and each other similar reference and each reference to "this Agreement" and each other similar reference contained in the Forbearance Agreement and the Credit Agreement shall from and after the date hereof refer to the Forbearance Agreement and the Credit Agreement, respectively, as amended hereby.

SECTION 2.Amendments to Forbearance Agreement. 

(a)Amendments to Existing Definitions.  Section 1(a) of the Forbearance Agreement is hereby amended by deleting the definitions of "Closed Stores" and "Continuing Stores" set forth therein and by substituting in lieu thereof the following, respectively:

"Closed Stores" shall mean (a) the 159 retail stores listed on Exhibit A attached to this Agreement, (b) the 104 retail stores listed on Exhibit B attached to this Agreement, (c) the 49 "front stores" listed on Exhibit D attached to this Agreement, and (d) the 129 "front stores" listed on Exhibit E attached to this Agreement.  For the avoidance of doubt, as of June 20, 2019, the Closed Stores shall not include any pharmacy located at a location listed on Exhibit D attached hereto, and, as of July 12, 2019, the Closed Stores shall not include any pharmacy located at a location listed on Exhibit E attached hereto.

"Continuing Stores" shall mean the retail stores listed on Exhibit C attached to this Agreement, which stores do not include the Closed Stores.  For the avoidance of doubt, as of June 20, 2019, the Continuing Stores shall include the pharmacies (but not any "front stores") located at the 49 locations listed on Exhibit D attached hereto, and, as of July 12, 2019, the Continuing Stores shall include the pharmacies (but not any "front stores") located at the 129 locations listed on Exhibit E attached hereto.

(b)Amendment to Section 1(b). Section 1(b) of the Forbearance Agreement is hereby amended by adding the following new sentence to the end of such section:

Until the commencement of the Store Closure and Closed Store Property Liquidation, in each case with respect to the 129 "front stores" listed on Exhibit E attached to this Agreement, references to the "Store Closure," "Store Closure Plan," "Closed Store Property Liquidation" and "Liquidation Transactions" shall not be deemed to include the closure of such 129 "front stores" and the sale or other disposition outside the Ordinary Course of Business of the property located at such 129 "front stores."

(c)Amendment to Section 2. Section 2(c) of the Forbearance Agreement is hereby amended by deleting the parenthetical set forth therein and by adding the following new parenthetical in lieu thereof:

(other than with respect to the 104 retail stores listed on Exhibit B attached to this Agreement, for which the Store Closure commenced after the Eighth Amendment Effective Date but prior to June 20, 2019, the 49 "front stores" listed on Exhibit D attached to this Agreement, for which the Store Closure commenced after June 20, 2019 but prior to July 12, 2019, and the 129 "front stores" listed on Exhibit E attached to this Agreement, for which the Store Closure is intended to commence after July 12, 2019)

(d)Amendments to Section 4. 

 

(i)Section 4(h) of the Forbearance Agreement is hereby amended by deleting such section and by substituting in lieu thereof the following new section:

(h)(i) Borrowers' total collections for any week do not vary unfavorably by more than fifteen percent (15%) from the amount of "Total Collections" shown on line 6 of the Cash Flow Forecast for such week, (ii) the sum of Borrowers' total operating disbursements and total non-operating disbursements for any week does not vary unfavorably by more than ten percent (10%) from the sum of "Total Operating Disbursements" and "Total Non-Operating Disbursements" shown on lines 15 and 23, respectively, of the Cash Flow Forecast for such week, and (iii) Inventory Receipts for any week shall not be less than eighty-five percent (85%) of the forecasted Inventory Receipts shown on the Cash Flow Forecast for such week;

(ii)Section 4 of the Forbearance Agreement is hereby amended by deleting the word "and" set forth at the end of Section 4(q), by deleting the "." set forth at the end of Section 4(r) and by substituting in lieu thereof a reference to ";" and by adding the following new clauses (s) and (t) to such section:

(s)Loan Parties shall make only the disbursements set forth in the then-current Cash Flow Forecast approved by Co-Collateral Agents, including timely making all payments to Secured Parties set forth therein, subject to compliance with the variances set forth in Section 4(h); and

(t)Loan Parties shall provide immediate (and, in any event, on the same calendar day) written notice to Co-Collateral Agents of (i) the termination of any agreement with respect to a proposed Asset Disposition (either by the applicable  Loan Party or the Person proposing to acquire such Property), (ii) the decision by the applicable Loan Party to cease pursuing any proposed Asset Disposition, (iii) the applicable Loan Party becoming aware that the Person proposing to acquire such Property will not acquire, or has ceased pursuing the acquisition of, such Property; or (iv) the applicable Loan Party becoming aware that any condition precedent to a proposed Asset Disposition not in the control of such Loan Party cannot be satisfied, in each case in respect to any proposed Asset Disposition with gross proceeds that are reasonably expected to be in excess of $100,000.

(e)Amendments to Exhibits. The Exhibits to the Forbearance Agreement are hereby amended by (i) deleting Exhibit C to the Forbearance Agreement (Continuing Stores) and substituting in lieu thereof Exhibit C to this Amendment, and (ii) adding a new Exhibit E to the Forbearance Agreement (Closed Stores (Wave IV)) in the form of Exhibit E to this Amendment.

SECTION 3.Amendments to Credit Agreement.  

(a)Addition of New Definitions.  Section 1.1 of the Credit Agreement is hereby amended by adding the following new definitions in appropriate alphabetical order, respectively:

"Eleventh Amendment" shall mean that certain Third Amendment to Forbearance Agreement and Eleventh Amendment to Credit Agreement dated as of the Eleventh Amendment Effective Date, by and among Loan Parties, Administrative Agent, Co-Collateral Agents, and Lenders.

 

"Eighth Amendment Effective Date" shall mean July 12, 2019.

"Pharmacy Script Assets" shall have the meaning given such term in the Eleventh Amendment.

"Pharmacy Script Sales" shall have the meaning given such term in the Eleventh Amendment.

(b)Amendments to Section 7.6.  Section 7.6 of the Credit Agreement is hereby amended by deleting the word "and" set forth at the end of Section 7.6(n), by deleting the "." set forth at the end of Section 7.6(o) and by substituting in lieu thereof a reference to "; and" and by adding the following new clause (p) to such section:

(p)the Pharmacy Script Sales, so long as (a) the gross proceeds thereof in an aggregate amount of not less than $362,500 are remitted by the applicable purchasers directly to Administrative Agent pursuant to wiring instructions provided by Administrative Agent, and earmarked for application to the Obligations, (b) no Default or Event of Default exists before or after giving pro forma effect to the Pharmacy Script Sales other than the Stipulated Defaults (as defined in the Eighth Amendment), (c) the documentation evidencing the Pharmacy Script Sales is in form and substance acceptable to Co-Collateral Agents in their respective discretion, (d) the Pharmacy Script Sales are consummated on or before July 12, 2019, and (e) the composition of the Pharmacy Script Assets is acceptable to Co-Collateral Agents in their respective discretion. 

(c)New Section.  The Credit Agreement is hereby amended by adding a new Section 9.15 as follows:

9.15Lien Releases.  Each Secured Party authorizes Administrative Agent to release any Lien with respect to any Collateral (a) upon Payment in Full of the Obligations or (b) that is the subject of an Asset Disposition which Borrower Agent certifies in writing to Administrative Agent and Co-Collateral Agents is an Asset Disposition that is permitted by Section 7.6 (and Administrative Agent may rely conclusively on any such certificate without further inquiry).

SECTION 4.No Waiver of Forbearance Condition Breach.  The entry of Administrative Agent, Co-Collateral Agents, and Lenders into this Amendment shall not constitute a waiver of the Forbearance Condition Breach (as defined in the Second Amendment), and, as a result of the Forbearance Condition Breach (as defined in the Second Amendment), the Forbearance Termination Date (as defined in the Forbearance Agreement) has occurred and the Forbearance Period (as defined in the Forbearance Agreement) has ended; as a result thereof, each of Administrative Agent, each Co-Collateral Agent and each Lender may elect, at any time and without further notice to or demand upon any Loan Party, terminate Administrative Agent's, each Co-Collateral Agent's and each Lender's agreement to forbear as set forth in Section 3 of the Forbearance Agreement, and Administrative Agent, each Co-Collateral Agent and each Lender shall thereupon have and may exercise from time to time all of the remedies available to such Secured Party under the Loan Documents and Applicable Law as a consequence of an Event of Default, without further notice to or demand upon any Loan Party or any other Person, and any such continued forbearance is optional and revocable in Administrative Agent's, any Co-Collateral Agent's or any Lender's respective discretion at any time. 

 

SECTION 5.Conditions Precedent.  This Amendment shall become effective only upon satisfaction of the following conditions precedent, as determined by Administrative Agent in its discretion:

(a)Administrative Agent shall have received this Amendment, duly executed and delivered by Loan Parties, Co-Collateral Agents and Lenders:

(b)Administrative Agent shall have received an updated Cash Flow Forecast for the thirteen (13) week period beginning on July 7, 2019 in form and substance satisfactory to Co-Collateral Agents;

(c)Administrative Agent shall have received payment of (i) any fees due and payable to Administrative Agent, any Co-Collateral Agent or any Lender pursuant to the Credit Agreement, this Amendment or any fee letter executed and delivered in connection therewith or herewith, and (ii) all costs and expenses incurred by Administrative Agent, any Co-Collateral Agent or any Lender in connection with this Amendment, including the preparation, negotiation and execution of this Amendment and all accrued costs and expenses of consultants and financial advisors employed or retained by Administrative Agent, any Co-Collateral Agent or any Lender in connection with the negotiation of this Amendment;

(d)Administrative Agent shall have received a certificate of a duly authorized officer of each Loan Party, certifying that an attached copy of resolutions authorizing execution and delivery of this Amendment and the Loan Documents contemplated hereby is true and complete, and that such resolutions are in full force and effect, were duly adopted by the appropriate governing body, have not been amended, modified, or revoked, and constitute all resolutions adopted with respect to this Amendment and the transactions contemplated hereby; 

(e)Loan Parties engage (and thereafter shall retain the services of) a nationally recognized third-party appraisal and liquidation advisor who has expertise in conducting store closure and liquidation sales similar to the Store Closure and Closed Store Property Liquidation and who is otherwise satisfactory to Co-Collateral Agents, pursuant to an engagement letter containing a scope of services that is satisfactory to Co-Collateral Agents but in any event to include conducting the Store Closure and Closed Store Property Liquidation, in each case with respect to the 129 "front stores" listed on Exhibit E attached to this Agreement; and

(f)Administrative Agent shall have received all other documents, instruments, certificates and agreements (if any) as Administrative Agent shall have reasonably requested in connection with the foregoing, each in form and substance reasonably satisfactory to Administrative Agent.

SECTION 6.Acknowledgement and Stipulations by Loan Parties.  Each Loan Party acknowledges, stipulates and agrees that (a) as of the close of business on July 10, 2019, the aggregate principal balance of Revolving Loans totaled $44,240,466.32, exclusive of costs and attorneys' fees chargeable to Borrowers under the Loan Documents, and the LC Obligations totaled $8,432,225.00; (b) all of the Obligations are absolutely due and owing by Loan Parties to Administrative Agent, each Co-Collateral Agent, each Lender and each other Secured Party without any defense, deduction, offset or counterclaim (and, to the extent any Loan Party had any defense, deduction, offset or counterclaim on the date hereof, the same is hereby waived); (c) the Loan Documents executed by such Loan Party are legal, valid and binding obligations of such Loan Party enforceable against such Loan Party in accordance with their terms; (d) the security interests and other Liens granted by such Loan Party to Administrative Agent (for the benefit of the Secured Parties) in the Collateral are duly perfected, first priority security interests and Liens; (e) each of the recitals contained at the beginning of this Amendment is true and correct; and (f) prior to executing this Amendment, such Loan Party consulted with and had the benefit of advice of legal counsel of its own selection and such Loan Party has relied upon the advice of such counsel and in 

 

no part upon any representation of Administrative Agent, any Co-Collateral Agent, any Lender or any other Secured Party concerning the legal effects of this Amendment or any provision hereof.  Further, each Loan Party represents and warrants that no breach of the Forbearance Conditions (as such term is defined in the Forbearance Agreement) has occurred prior to the date hereof other than the Forbearance Condition Breach (as defined in the Second Amendment).

SECTION 7.Miscellaneous Terms.

(a)Loan Document.  For avoidance of doubt, the parties hereto hereby acknowledge and agree that this Amendment is a Loan Document.

(b)Effect of Amendment.  All amendments set forth herein shall become effective as of the date on which all of the conditions precedent set forth in Section 5 hereof are satisfied (the "Effective Date").  Except as otherwise may be set forth expressly hereinabove, all terms of the Credit Agreement, the Forbearance Agreement, and the other Loan Documents shall be and remain in full force and effect, and shall constitute the legal, valid, binding, and enforceable obligations of Loan Parties.  Except to the extent otherwise expressly set forth herein, the amendments set forth herein shall have prospective application only from and after the Effective Date.

(c)No Novation or Mutual Departure.  Loan Parties expressly acknowledge and agree that (i) there has not been, and this Amendment does not constitute or establish, a novation with respect to the Credit Agreement, the Forbearance Agreement or any of the other Loan Documents, or a mutual departure from the strict terms, provisions, and conditions thereof, other than with respect to the limited amendments contained in Sections 2 and 3 hereof, and (ii) nothing in this Amendment shall affect or limit Administrative Agent's, Co-Collateral Agents' or Lenders' right to demand payment of liabilities owing from Loan Parties to Administrative Agent, Co-Collateral Agents or Lenders under, or to demand strict performance of the terms, provisions and conditions of, the Credit Agreement, the Forbearance Agreement,  and the other Loan Documents, to exercise any and all rights, powers, and remedies under the Forbearance Agreement or the other Loan Documents or at law or in equity, or to do any and all of the foregoing, immediately at any time after the breach of a Forbearance Condition (as such term is defined in the Forbearance Agreement).

(d)Counterparts.  This Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed to be an original and all of which counterparts, taken together, shall constitute but one and the same instrument.  This Amendment may be executed by each party on separate copies, which copies, when combined so as to include the signatures of all parties, shall constitute a single counterpart of this Amendment.

(e)Fax or Other Transmission.  Delivery by one or more parties hereto of an executed counterpart of this Amendment via facsimile, telecopy, or other electronic method of transmission pursuant to which the signature of such party can be seen (including, without limitation, Adobe Corporation's Portable Document Format) shall have the same force and effect as the delivery of an original executed counterpart of this Amendment.  Any party delivering an executed counterpart of this Amendment by facsimile, telecopy, or other electronic method of transmission shall also deliver an original executed counterpart, but the failure to do so shall not affect the validity, enforceability, or binding effect of this Amendment.

(f)Recitals Incorporated Herein.  The preamble and the recitals to this Amendment are hereby incorporated herein by this reference.

 

(g)Section References.  Section titles and references used in this Amendment shall be without substantive meaning or content of any kind whatsoever and are not a part of the amendments and other agreements among the parties hereto evidenced hereby.

(h)Further Assurances.  Each Loan Party agrees to take, at such Loan Party's expense, such further actions as Administrative Agent shall request from time to time to evidence the amendments and other agreements set forth herein and the transactions contemplated hereby.

(i)Governing Law.  This Amendment shall be governed by and construed and interpreted in accordance with the laws of the State of Georgia, without giving effect to any conflict of law principles or other rule of law which would cause the application of the law of any jurisdiction other than the laws of the State of Georgia (but giving effect to federal laws relating to national banks).

(j)Severability.  Any provision of this Amendment which is prohibited or unenforceable shall be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof in that jurisdiction or affecting the validity or enforceability of such provision in any other jurisdiction.

(k)Breach of Amendment.  This Amendment shall be part of the Forbearance Agreement and a breach of any representation, warranty or covenant herein shall constitute a breach of the Forbearance Condition set forth in Section 4(a) of the Forbearance Agreement.

(k)Release of Claims.  To induce Administrative Agent, each Co-Collateral Agent and each Lender to enter into this Amendment, each Loan Party, for itself and on behalf of such Loan Party's officers, directors, subsidiaries, successors and assigns (collectively with each Loan Party, collectively, "Releasors" and, each individually, a "Releasor"), hereby (i) RELEASES, ACQUITS AND FOREVER DISCHARGES Administrative Agent, each Lender, each Co-Collateral Agent and each other Secured Party, and all officers, directors, agents, employees, successors and assigns of Administrative Agent, each Lender, each Co-Collateral Agent and each other Secured Party, from any and all liabilities, claims, demands, actions or causes of action of any kind or nature (if there be any), whether absolute or contingent, disputed or undisputed, at law or in equity, or known or unknown, that any Releasor now has or ever had against Administrative Agent, any Lender, any Co-Collateral Agent or any other Secured Party arising under or in connection with any of the Loan Documents or otherwise and (ii) covenants and agrees not to institute or cause to be instituted or continue prosecution of any suit or other form of action or proceeding of any kind or nature whatsoever against Administrative Agent, any Lender, any Co-Collateral Agent or any other Secured Party, or any officer, director, agent, employee, successor or assign of Administrative Agent, any Lender, any Co-Collateral Agent or any other Secured Party, by reason of or in connection with any of the foregoing liabilities, claims, demands, actions or causes of action.  Each Loan Party represents and warrants to Administrative Agent and each Lender that such Loan Party has not transferred or assigned to any Person any claim that such Loan Party ever had or claimed to have against Administrative Agent, any Lender, any Co-Collateral Agent or any other Secured Party.

[Remainder of page intentionally left blank; signatures appear on the following pages]

1)

 

IN WITNESS WHEREOF, each party hereto has caused this Amendment to be duly executed and delivered under seal by its duly authorized officer or other representative as of the day and year first above written. 

 

BORROWERS:

FRED'S, INC., a Tennessee corporation, 

as "Borrower Agent" and a "Borrower"

 

By: ___________________________________

Name:_________________________________

Title:__________________________________

[CORPORATE SEAL]

 

FRED'S STORES OF TENNESSEE, INC., 
a Delaware corporation, as a "Borrower"

 

 

By: ___________________________________

Name:_________________________________

Title:__________________________________

[CORPORATE SEAL]

NATIONAL PHARMACEUTICAL NETWORK, INC., a Florida corporation, as a "Borrower"

 

By: ___________________________________

Name:_________________________________

Title:__________________________________

[CORPORATE SEAL]

REEVES-SAIN DRUG STORE, INC., 
a Tennessee corporation, as a "Borrower"

 

By: ___________________________________

Name:_________________________________

Title:__________________________________

[CORPORATE SEAL]

[Signatures continue on following pages.]

Section 1.1.

Third Amendment to Forbearance Agreement and Eleventh Amendment to Credit Agreement (Fred's)

 

GUARANTOR:

505 N. MAIN OPP, LLC,
a Delaware limited liability company, as a "Guarantor"

 

By: ___________________________________

Name:_________________________________

Title:__________________________________

[SEAL]

[Signatures continue on following pages.]

Section 1.1.

Third Amendment to Forbearance Agreement and Eleventh Amendment to Credit Agreement (Fred's)

 

ADMINISTRATIVE AGENT:

 

REGIONS BANK, as "Administrative Agent"

 

 

By: ___________________________________

Name:_________________________________

Title:__________________________________

 

CO-COLLATERAL AGENTS:

 

REGIONS BANK, as a "Co-Collateral Agent"

 

 

By: ___________________________________

Name:_________________________________

Title:__________________________________

 

[Signatures continue on following page.]

Section 1.1.

Third Amendment to Forbearance Agreement and Eleventh Amendment to Credit Agreement (Fred's)

 

BANK OF AMERICA, N.A., as a "Co-Collateral Agent"

 

 

By: ___________________________________

Name:_________________________________

Title:__________________________________

 

[Signatures continue on following page.]

 

Third Amendment to Forbearance Agreement and Eleventh Amendment to Credit Agreement (Fred's)

 

LENDERS:

 

REGIONS BANK 

 

 

By: ___________________________________

Name:_________________________________

Title:__________________________________

 

[Signatures continue on following page.]

Section 1.1.

Third Amendment to Forbearance Agreement and Eleventh Amendment to Credit Agreement (Fred's)

 

BANK OF AMERICA, N.A.

 

 

By: ___________________________________

Name:_________________________________

Title:__________________________________

 

Third Amendment to Forbearance Agreement and Eleventh Amendment to Credit Agreement (Fred's)

 

EXHIBIT C

 

Continuing Stores

 

							
	
Store #
	
Location
	
Address
	
City
	
State
	
Xpress location
	
Front stores only to be closed

	
3240
	
WINONA, MS
	
603 MIDDLETON RD
	
WINONA
	
MS
	
 
	
Yes

	
1178
	
BRYSON CITY, NC
	
250 HIGHWAY 19 S
	
BRYSON CITY
	
NC
	
 
	
 

	
2500
	
OLIVE BRANCH, MS
	
7105 HIGHWAY 305 N
	
OLIVE BRANCH
	
MS
	
 
	
 

	
1758
	
GLENNVILLE, GA
	
726 N VETERANS BLVD.
	
GLENNVILLE
	
GA
	
 
	
 

	
1300
	
CLARKSDALE, MS
	
236 DESOTO AVE
	
CLARKSDALE
	
MS
	
 
	
Yes

	
2711
	
PARSONS, TN
	
501 TENNESSEE AVE N
	
PARSONS
	
TN
	
 
	
Yes

	
1135
	
BATESVILLE, MS
	
475 HIGHWAY 6 E
	
BATESVILLE
	
MS
	
 
	
 

	
1923
	
GRAY, GA
	
106 BARKER RD
	
GRAY
	
GA
	
 
	
 

	
1163
	
BONIFAY, FL
	
1718 S WAUKESHA ST
	
BONIFAY
	
FL
	
 
	
Yes

	
3310
	
WARREN, AR
	
507 W PINE ST
	
WARREN
	
AR
	
 
	
Yes

	
1665
	
FRANKLINTON, LA
	
708 WASHINGTON ST
	
FRANKLINTON
	
LA
	
 
	
 

	
1765
	
HENDERSON, TN
	
535 W MAIN ST
	
HENDERSON
	
TN
	
 
	
Yes

	
2308
	
METTER, GA
	
978 S.E. BROAD ST.
	
METTER
	
GA
	
 
	
 

	
2388
	
MOUNTAIN CITY, TN
	
100 PIONEER VILLAGE DR
	
MOUNTAIN CITY
	
TN
	
 
	
 

	
1035
	
ARCADIA, LA
	
1311 HAZEL ST
	
ARCADIA
	
LA
	
 
	
Yes

	
2993
	
SYLVANIA, GA
	
518 W OGEECHEE ST
	
SYLVANIA
	
GA
	
 
	
 

	
1608
	
DUMAS, AR
	
611 HIGHWAY 65 S
	
DUMAS
	
AR
	
 
	
Yes

	
1520
	
EUPORA, MS
	
1960 VETERANS MEMORIAL BLVD
	
EUPORA
	
MS
	
 
	
Yes

	
2615
	
PIGGOTT, AR
	
303 E MAIN ST
	
PIGGOTT
	
AR
	
 
	
Yes

	
3210
	
WATER VALLEY, MS
	
109 DUNCAN ST
	
WATER VALLEY
	
MS
	
 
	
Yes

 

 

							
	
1295
	
COLUMBIA, LA
	
8155 HIGHWAY 165
	
COLUMBIA
	
LA
	
 
	
Yes

	
2405
	
MORTON, MS
	
5186 HIGHWAY 80
	
MORTON
	
MS
	
 
	
 

	
1403
	
DADEVILLE, AL
	
17916 HIGHWAY 280
	
DADEVILLE
	
AL
	
 
	
 

	
3225
	
WAYNESBORO, TN
	
307 HIGHWAY 64 E
	
WAYNESBORO
	
TN
	
 
	
Yes

	
1950
	
LINEVILLE, AL
	
50 TALLADEGA ST
	
LINEVILLE
	
AL
	
 
	
 

	
1218
	
CADIZ, KY
	
1938 MAIN ST
	
CADIZ
	
KY
	
 
	
Yes

	
1408
	
DAINGERFIELD, TX
	
218 WATSON BLVD
	
DAINGERFIELD
	
TX
	
 
	
Yes

	
2203
	
LUVERNE, AL
	
821 S FOREST AVE
	
LUVERNE
	
AL
	
 
	
 

	
1145
	
BRUCE, MS
	
403 W CALHOUN ST
	
BRUCE
	
MS
	
 
	
Yes

	
1763
	
HEADLAND, AL
	
804 CLEVELAND ST
	
HEADLAND
	
AL
	
 
	
 

	
1440
	
DOVER, TN
	
1560 DONELSON PKWY
	
DOVER
	
TN
	
 
	
Yes

	
1550
	
ERIN, TN
	
885 E MAIN ST
	
ERIN
	
TN
	
 
	
Yes

	
2373
	
MONTEVALLO, AL
	
4559 HIGHWAY 25
	
MONTEVALLO
	
AL
	
 
	
 

	
2395
	
MENDENHALL, MS
	
3050 SIMPSON HIGHWAY 13
	
MENDENHALL
	
MS
	
 
	
Yes

	
2990
	
ST FRANCISVILLE, LA
	
7139 U S HIGHWAY 61
	
SAINT FRANCISVILLE
	
LA
	
 
	
Yes

	
1400
	
COUNCE, TN
	
9810 HIGHWAY 57
	
COUNCE
	
TN
	
 
	
 

	
2745
	
REIDSVILLE, GA
	
139 W BRAZELL ST
	
REIDSVILLE
	
GA
	
 
	
 

	
1405
	
DARIEN, GA
	
1038 RIVER DR SW
	
DARIEN
	
GA
	
 
	
Yes

	
2350
	
MIDFIELD, AL
	
165 BESSEMER SUPER HWY
	
MIDFIELD
	
AL
	
 
	
 

	
2318
	
MILLEN, GA, GA
	
506 US HIGHWAY 25 N
	
MILLEN
	
GA
	
 
	
 

	
1460
	
DONALSONVILLE, GA
	
421 W 3RD ST
	
DONALSONVILLE
	
GA
	
 
	
 

	
1540
	
ELBA, AL
	
996 HIGHWAY 203
	
ELBA
	
AL
	
 
	
Yes

	
1108
	
BAMBERG, SC
	
3606 MAIN HWY
	
BAMBERG
	
SC
	
 
	
 

 

							
	
1913
	
HONEA PATH, SC
	
518 E GREER ST
	
HONEA PATH
	
SC
	
 
	
 

	
2168
	
LAKELAND, GA
	
512 S VALDOSTA RD
	
LAKELAND
	
GA
	
 
	
 

	
3170
	
VARNVILLE, SC
	
181 W CAROLINA AVE
	
VARNVILLE
	
SC
	
 
	
 

	
3200
	
WARRIOR, AL
	
204 KEMP DR
	
WARRIOR
	
AL
	
 
	
 

	
1803
	
HAWKINSVILLE, GA
	
521 BROAD ST
	
HAWKINSVILLE
	
GA
	
 
	
 

	
2173
	
LENOIR, NC
	
1346 NORWOOD ST SW
	
LENOIR
	
NC
	
 
	
 

	
1015
	
ASHBURN, GA
	
316 E WASHINGTON AVE
	
ASHBURN
	
GA
	
 
	
 

	
2078
	
JOHNSONVILLE, SC
	
198 STUCKEY ST
	
JOHNSONVILLE
	
SC
	
 
	
 

	
2695
	
PURVIS, MS
	
509 HIGHWAY 589
	
PURVIS
	
MS
	
 
	
Yes

	
1278
	
COLLINS, MS
	
1211 S FIR AVE
	
COLLINS
	
MS
	
 
	
Yes

	
2868
	
SALUDA, SC
	
437 N MAIN ST
	
SALUDA
	
SC
	
 
	
 

	
2740
	
RAINSVILLE, AL
	
584 MCCURDY AVE S
	
RAINSVILLE
	
AL
	
 
	
 

	
1153
	
BLACKSHEAR, GA
	
3764 HWY 84 EAST
	
BLACKSHEAR
	
GA
	
 
	
 

	
2215
	
LINDEN, TN
	
308 SQUIRREL HOLLOW DR
	
LINDEN
	
TN
	
 
	
Yes

	
2758
	
ROGERSVILLE, AL
	
16100 HIGHWAY 72
	
ROGERSVILLE
	
AL
	
 
	
Yes

	
2365
	
MONTICELLO, MS
	
1509 W BROAD ST
	
MONTICELLO
	
MS
	
 
	
Yes

	
2575
	
POPLARVILLE, MS
	
1388 SOUTH MAIN STREET
	
POPLARVILLE
	
MS
	
 
	
Yes

	
1433
	
CHESEE, SC
	
401 S ALABAMA AVE
	
CHESNEE
	
SC
	
 
	
 

	
2133
	
ALBANY, GA
	
1705 PHILEMA RD S
	
ALBANY
	
GA
	
 
	
 

	
1193
	
BURNSVILLE, NC
	
BURNSVILLE PLAZA
	
BURNSVILLE
	
NC
	
 
	
 

	
1325
	
CLAXTON, GA
	
413 N DUVAL ST
	
CLAXTON
	
GA
	
 
	
 

	
2980
	
STAR CITY, AR
	
1309 N LINCOLN AVE
	
STAR CITY
	
AR
	
 
	
Yes

	
2385
	
HELENA, GA
	
124 8TH STREET
	
HELENA
	
GA
	
 
	
Yes

	
2540
	
OPP, AL
	
505 N MAIN ST
	
OPP
	
AL
	
 
	
 

	
2715
	
CHARLESTON, MS
	
304 W MAIN ST
	
CHARLESTON
	
MS
	
 
	
Yes

 

							
	
1258
	
CITRONELLE, AL
	
19580 N 3RD ST
	
CITRONELLE
	
AL
	
 
	
 

	
2063
	
HOMERVILLE, GA
	
369 S CHURCH ST
	
HOMERVILLE
	
GA
	
 
	
 

	
1358
	
CUTHBERT, GA
	
101 N WEBSTER ST
	
CUTHBERT
	
GA
	
 
	
 

	
1538
	
EAST DUBLIN, GA
	
705 CENTRAL DR
	
EAST DUBLIN
	
GA
	
 
	
 

	
1865
	
HARRISBURG, AR
	
1301 N ILLINOIS ST
	
HARRISBURG
	
AR
	
 
	
Yes

	
2178
	
PHENIX CITY, AL
	
3920 US HIGHWAY 80 W
	
PHENIX CITY
	
AL
	
 
	
 

	
2750
	
RED BAY, AL
	
525 4TH AVE SE
	
RED BAY
	
AL
	
 
	
Yes

	
1415
	
DAWSON, GA
	
839 FORRESTER DR SE
	
DAWSON
	
GA
	
 
	
 

	
1125
	
BAY SPRINGS, MS
	
2675 HIGHWAY 15
	
BAY SPRINGS
	
MS
	
 
	
Yes

	
2255
	
MONTEAGLE, TN
	
750 W MAIN ST
	
MONTEAGLE
	
TN
	
 
	
 

	
1113
	
ANDREWS, SC
	
311 E MAIN ST
	
ANDREWS
	
SC
	
 
	
Yes

	
2743
	
RAINBOW CITY, AL
	
110 SUTTON SQ
	
RAINBOW CITY
	
AL
	
 
	
 

	
1873
	
GREENSBORO, GA
	
203 N MAIN ST
	
GREENSBORO
	
GA
	
 
	
Yes

	
2148
	
LAKE PARK, GA
	
365 LAKES BLVD
	
LAKE PARK
	
GA
	
 
	
 

	
3078
	
STERLINGTON, LA
	
1320 HIGHWAY 2
	
STERLINGTON
	
LA
	
 
	
Yes

	
2590
	
PIKEVILLE, TN
	
327 MAIN ST
	
PIKEVILLE
	
TN
	
 
	
Yes

	
2098
	
BYHALIA, MS
	
15 STONEWALL RD
	
BYHALIA
	
MS
	
 
	
 

	
2895
	
SUMRALL, MS
	
4233 ROCKY BRANCH RD
	
SUMRALL
	
MS
	
 
	
Yes

	
1210
	
CANTON, MS
	
229 N UNION ST
	
CANTON
	
MS
	
 
	
Yes

	
1700
	
FLORA, MS
	
101 MANSKER DR
	
FLORA
	
MS
	
 
	
Yes

	
2185
	
LIVINGSTON, TN
	
890 OVERTON PLZ
	
LIVINGSTON
	
TN
	
 
	
Yes

	
2640
	
PONTOTOC, MS
	
170 HIGHWAY 15 N
	
PONTOTOC
	
MS
	
 
	
 

	
1160
	
BELZONI, MS
	
520 N HAYDEN ST
	
BELZONI
	
MS
	
 
	
Yes

	
3010
	
TIPTONVILLE, TN
	
730 EVERETT ST
	
TIPTONVILLE
	
TN
	
 
	
Yes

	
1328
	
COMMERCE, GA
	
185 S ELM ST
	
COMMERCE
	
GA
	
 
	
 

	
1273
	
COLUMBUS, GA
	
1900 AUBURN AVE
	
COLUMBUS
	
GA
	
 
	
 

	
3370
	
WRENS, GA
	
605 N MAIN ST
	
WRENS
	
GA
	
 
	
Yes

 

							
	
2105
	
KINGSTREE, SC
	
480 NELSON BLVD
	
KINGSTREE
	
SC
	
 
	
 

	
3250
	
WESTMORELAND, TN
	
5634 AUSTIN PEAY HWY
	
WESTMORELAND
	
TN
	
 
	
Yes

	
1503
	
ALAMO, TN
	
1200 W CHURCH ST
	
ALAMO
	
TN
	
 
	
Yes

	
1915
	
HEFLIN, AL
	
731 ROSS ST
	
HEFLIN
	
AL
	
 
	
 

	
3073
	
STATESBORO, GA
	
2974 NORTHSIDE DR WEST
	
STATESBORO
	
GA
	
 
	
 

	
2717
	
MARKS, MS
	
1098 MARTIN LUTHER KING DR
	
Marks
	
MS
	
 
	
Yes

	
1588
	
BALDWYN, MS
	
441 N 4TH ST
	
BALDWYN
	
MS
	
 
	
Yes

	
1233
	
ADAIRSVILLE, GA
	
5132 JOE FRANK HARRIS PKWY NW
	
ADAIRSVILLE
	
GA
	
 
	
 

	
2513
	
MOODY, AL
	
1001 CROSSROADS PLAZA DR
	
MOODY
	
AL
	
 
	
 

	
1703
	
GREENWOOD, SC
	
2544 HIGHWAY 25 S
	
GREENWOOD
	
SC
	
 
	
 

	
2485
	
LEAKESVILLE, MS
	
951 MAIN STREET
	
LEAKESVILLE
	
MS
	
 
	
Yes

	
2213
	
LOUISVILLE, GA
	
119 US 1 BY-PASS
	
LOUISVILLE
	
GA
	
 
	
Yes

	
2440
	
NASHVILLE, AR
	
614 S MAIN ST
	
NASHVILLE
	
AR
	
 
	
Yes

	
3040
	
TRENTON, GA
	
11858 S. MAIN ST.
	
TRENTON
	
GA
	
 
	
 

	
2123
	
KINDER, LA
	
715 1ST AVE
	
KINDER
	
LA
	
 
	
Yes

	
2438
	
LINCOLN, AL
	
47950 US HIGHWAY 78
	
LINCOLN
	
AL
	
 
	
 

	
1928
	
DEKALB, MS
	
14916 HIGHWAY 16 W
	
DE KALB
	
MS
	
 
	
Yes

	
3175
	
VERNON, AL
	
9574 HWY-18
	
VERNON
	
AL
	
 
	
Yes

	
2073
	
HAUGHTON, LA
	
400 W MCKINLEY AVE
	
HAUGHTON
	
LA
	
 
	
 

	
1998
	
HOMER, LA
	
902 W MAIN ST
	
HOMER
	
LA
	
 
	
Yes

	
1363
	
COLUMBIANA, AL
	
21665 HIGHWAY 25
	
COLUMBIANA
	
AL
	
 
	
 

	
1560
	
EVERGREEN, AL
	
450 WEST FRONT ST.
	
EVERGREEN
	
AL
	
 
	
 

	
1248
	
CLARKESVILLE, GA
	
200 E LOUISE ST
	
CLARKESVILLE
	
GA
	
 
	
 

	
2670
	
PRENTISS, MS
	
105 S COLUMBIA AVE
	
PRENTISS
	
MS
	
 
	
Yes

 

							
	
1953
	
LIVINGSTON, AL
	
720 N WASHINGTON ST
	
LIVINGSTON
	
AL
	
 
	
 

	
2468
	
NETTLETON, MS
	
7122 WILL ROBBINS HWY
	
NETTLETON
	
MS
	
 
	
 

	
2130
	
LAVONIA, GA
	
11747 AUGUSTA RD
	
LAVONIA
	
GA
	
 
	
 

	
1355
	
CAMDEN, AL
	
24 CAMDEN BYP
	
CAMDEN
	
AL
	
 
	
 

	
1640
	
FULTON, MS
	
1409 S ADAMS ST
	
FULTON
	
MS
	
 
	
Yes

	
1343
	
CANTON, NC
	
70 NEW CLYDE HWY
	
CANTON
	
NC
	
 
	
 

	
2128
	
LEXINGTON, GA
	
718 ATHENS RD
	
LEXINGTON
	
GA
	
 
	
Yes

	
1920
	
INDIANOLA, MS
	
210 HIGHWAY 82 W
	
INDIANOLA
	
MS
	
 
	
Yes

	
2572
	
SOPERTON, GA
	
4269 W MAIN ST
	
SOPERTON
	
GA
	
 
	
Yes

	
3410
	
YELLVILLE, AR
	
320 HIGHWAY 14 S
	
YELLVILLE
	
AR
	
 
	
Yes

	
1930
	
HEPHZIBAH, GA
	
2872 TOBACCO RD
	
HEPHZIBAH
	
GA
	
 
	
 

	
6025
	
EUTAW, AL (GD&D)
	
206 GREENSBORO AVE
	
EUTAW
	
AL
	
 
	
 

	
1235
	
CENTREVILLE, MS
	
456 HIGHWAY 24 E
	
CENTREVILLE
	
MS
	
 
	
Yes

	
3053
	
TAYLORSVILLE, MS
	
402 PINE ST
	
TAYLORSVILLE
	
MS
	
 
	
Yes

	
2320
	
MONTEZUMA, GA
	
201 WALNUT STREET
	
MONTEZUMA
	
GA
	
 
	
 

	
2280
	
MARIANNA, AR
	
438 S ALABAMA ST
	
MARIANNA
	
AR
	
 
	
Yes

	
1420
	
DEQUEEN, AR
	
808 W COLLIN RAYE DR
	
DE QUEEN
	
AR
	
 
	
Yes

	
1323
	
BUNKIE, LA
	
109 CHEVY LN
	
BUNKIE
	
LA
	
 
	
Yes

	
2753
	
REFORM, AL
	
609 1ST AVE W
	
REFORM
	
AL
	
 
	
Yes

	
3178
	
VILONIA, AR
	
10 EAGLE ST
	
VILONIA
	
AR
	
 
	
Yes

	
2613
	
PELAHATCHIE, MS
	
404 SECOND STREET
	
PELAHATCHIE
	
MS
	
 
	
Yes

	
2165
	
LAFAYETTE, GA
	
303 W PATTON ST
	
LA FAYETTE
	
GA
	
 
	
 

	
1713
	
GEORGIANA, AL
	
685 HWY 106 WEST
	
GEORGIANA
	
AL
	
 
	
Yes

	
2780
	
ROLLING FORK, MS
	
901 US 61
	
ROLLING FORK
	
MS
	
 
	
Yes

	
2175
	
LEXINGTON, MS
	
301 YAZOO ST
	
LEXINGTON
	
MS
	
 
	
Yes

 

							
	
3070
	
TYLERTOWN, MS
	
3000 PIKE 93 N
	
TYLERTOWN
	
MS
	
 
	
Yes

	
1880
	
HOLIDAY ISLAND, AR
	
2 FOREST PARK DR
	
HOLIDAY ISLAND
	
AR
	
 
	
Yes

	
1660
	
BRINKLEY, AR
	
1131 NORTH CHARLYNE
	
BRINKLEY
	
AR
	
 
	
Yes

	
1385
	
CLARKSVILLE, AR
	
409 W MAIN ST
	
CLARKSVILLE
	
AR
	
 
	
Yes

	
2925
	
SHERIDAN, AR
	
624 S ROCK ST
	
SHERIDAN
	
AR
	
 
	
Yes

	
2850
	
RIPLEY, MS
	
706 CITY AVE N
	
RIPLEY
	
MS
	
 
	
 

	
1510
	
EASTMAN, GA
	
103 FOURTH AVE
	
EASTMAN
	
GA
	
 
	
 

	
3220
	
WHITE BLUFF, TN
	
4928 HIGHWAY 70 E
	
WHITE BLUFF
	
TN
	
 
	
Yes

	
6021
	
SULLIGENT, AL (GD&D)
	
5705 HWY 278
	
SULLIGENT
	
AL
	
 
	
Yes

	
6015
	
MIDDLETON, TN (GD&D)
	
700 S. MAIN STREET
	
MIDDLETON
	
TN
	
 
	
Yes

	
2150
	
LORETTO, TN
	
534 N MILITARY ST
	
LORETTO
	
TN
	
 
	
Yes

	
2550
	
OAKLAND CITY, IN
	
1310 W MORTON ST
	
OAKLAND CITY
	
IN
	
 
	
 

	
1663
	
ALBANY, KY
	
800 N CROSS ST
	
ALBANY
	
KY
	
 
	
Yes

	
2533
	
OKOLONA, MS
	
511 W MONROE AVENUE
	
OKOLONA
	
MS
	
 
	
Yes

	
3245
	
WEST HELENA, AR
	
826 N SEBASTIAN
	
WEST HELENA
	
AR
	
 
	
Yes

	
1060
	
ACKERMAN, MS
	
318 N ALFORD
	
ACKERMAN
	
MS
	
 
	
Yes

	
2788
	
RINGGOLD, LA
	
2866 BIENVILLE RD
	
RINGGOLD
	
LA
	
 
	
 

	
2430
	
NEWTON, MS
	
304 NORTHSIDE DR
	
NEWTON
	
MS
	
 
	
Yes

	
3368
	
WOODVILLE, MS
	
211 U.S. HWY 61 SOUTH
	
WOODVILLE
	
MS
	
 
	
Yes

	
1723
	
GREENFIELD, TN
	
1207 S MERIDIAN ST
	
GREENFIELD
	
TN
	
 
	
Yes

	
1155
	
BOONEVILLE, MS
	
504 N 2ND ST
	
BOONEVILLE
	
MS
	
 
	
 

	
2460
	
NORTH CROSSETT, AR
	
1164 HIGHWAY 133 N
	
CROSSETT
	
AR
	
 
	
Yes

	
1910
	
IUKA, MS
	
615 BATTLEGROUND DR
	
IUKA
	
MS
	
 
	
Yes

	
1320
	
CAMDEN, TN
	
195 HIGHWAY 641 N
	
CAMDEN
	
TN
	
 
	
Yes

 

							
	
1935
	
FERRIDAY, LA
	
2094 EE WALLACE BLVD N
	
FERRIDAY
	
LA
	
 
	
Yes

	
1490
	
DRESDEN, TN
	
8487 HIGHWAY 22
	
DRESDEN
	
TN
	
 
	
 

	
1893
	
HOUSTON, MS
	
905 N PONTOTOC ST
	
HOUSTON
	
MS
	
 
	
Yes

	
2748
	
RICHTON, MS
	
403 FRONT ST
	
RICHTON
	
MS
	
 
	
Yes

	
1165
	
BOLIVAR, TN
	
105 TENNESSEE ST
	
BOLIVAR
	
TN
	
 
	
Yes

	
2490
	
MT. VERNON, GA
	
601 MASON ST
	
MOUNT VERNON
	
GA
	
 
	
 

	
1760
	
HAYNESVILLE, LA
	
9270 HIGHWAY 79
	
HAYNESVILLE
	
LA
	
 
	
Yes

	
1805
	
HEBER SPRINGS, AR
	
308 S 7TH ST
	
HEBER SPRINGS
	
AR
	
 
	
Yes

	
2260
	
MORRILTON, AR
	
601 N ST JOSEPH
	
MORRILTON
	
AR
	
 
	
Yes

	
2243
	
MACON, MS
	
59 FRONTAGE RD
	
MACON
	
MS
	
 
	
Yes

	
3235
	
WIGGINS, MS
	
116 2ND STREET SOUTH
	
WIGGINS
	
MS
	
 
	
Yes

	
1095
	
BALD KNOB, AR
	
170 HIGHWAY 167 N
	
BALD KNOB
	
AR
	
 
	
Yes

	
1638
	
DEMOPOLIS, AL
	
505 HWY 80 W
	
DEMOPOLIS
	
AL
	
 
	
 

	
1683
	
CHURCH POINT, LA
	
821 S MAIN ST
	
CHURCH POINT
	
LA
	
 
	
Yes

	
1907
	
HAMBURG, AR
	
700 N MAIN ST
	
HAMBURG
	
AR
	
 
	
Yes

	
1570
	
FAIRVIEW, TN
	
2415 FAIRVIEW BLVD
	
FAIRVIEW
	
TN
	
 
	
Yes

	
1305
	
CALHOUN CITY, MS
	
71 HIGHWAY 8 E
	
CALHOUN CITY
	
MS
	
 
	
Yes

	
2687
	
DEQUINCY, LA
	
702 WEST 4TH STREET
	
DEQUINCY
	
LA
	
 
	
Yes

	
2110
	
KOSCIUSKO, MS
	
340 HIGHWAY 12 W
	
KOSCIUSKO
	
MS
	
 
	
 

	
2083
	
CHEROKEE VILLAGE, AR
	
200 HOSPITAL DRIVE
	
CHEROKEE VILLAGE
	
AR
	
 
	
Yes

	
2473
	
MANTACHIE, MS
	
67 WATSON DR
	
MANTACHIE
	
MS
	
 
	
Yes

	
1525
	
EUNICE, LA
	
2200 W LAUREL AVE
	
EUNICE
	
LA
	
 
	
Yes

	
6027
	
TOMPKINSVILLE, KY (GD&D)
	
509 NORTH MAIN STREET
	
TOMPKINSVILLE
	
KY
	
 
	
Yes

	
1470
	
DURANT, MS
	
33674 HIGHWAY 12
	
DURANT
	
MS
	
 
	
Yes

 

							
	
2890
	
SPRINGHILL, LA
	
1190 S ARKANSAS ST. 
	
SPRINGHILL
	
LA
	
 
	
Yes

	
2723
	
KERSHAW, SC
	
405 SOUTH HAMPTON STREET
	
KERSHAW
	
SC
	
 
	
Yes

	
1085
	
BEEBE, AR
	
901 W DEWITT HENRY DR
	
BEEBE
	
AR
	
 
	
Yes

	
2697
	
MANSFIELD, LA
	
400 WASHINGTON AVE
	
MANSFIELD
	
LA
	
 
	
Yes

	
2727
	
KENTWOOD, LA
	
717 AVE G
	
KENTWOOD
	
LA
	
 
	
Yes

	
2725
	
MONTEREY, TN
	
101 WEST COMMERCIAL AVE.
	
MONTEREY
	
TN
	
 
	
Yes

	
3568
	
FAYETTE, AL
	
1128 SECOND AVE. NE
	
FAYETTE
	
AL
	
Yes
	
 

	
3578
	
BOLIVAR, TN
	
600 NUCKOLLS RD.
	
BOLIVAR
	
TN
	
Yes
	
 

	
3601
	
VINTON, LA
	
1301 HORRIDGE STREET
	
VINTON
	
LA
	
Yes
	
 

	
3603
	
TUNICA, MS
	
1068 HWY 61 N.
	
TUNICA
	
MS
	
Yes
	
 

	
3637
	
HALEYVILLE, AL
	
814 20TH ST
	
HALEYVILLE
	
AL
	
Yes
	
 

	
3650
	
HEIDELBERG, MS
	
100 MAIN ST
	
HEIDELBERG
	
MS
	
Yes
	
 

	
3700
	
HAMILTON, AL
	
1360 MILITARY STREET S
	
HAMILTON
	
AL
	
Yes
	
 

	
3723
	
IOWA, LA
	
510 N. THOMSON AVE.
	
IOWA
	
LA
	
Yes
	
 

	
3725
	
MORGANTOWN, KY
	
211 SOUTH MAIN STREET
	
MORGANTOWN
	
KY
	
Yes
	
 

	
3737
	
LEWISPORT, KY
	
1590 4TH STREET
	
LEWISPORT
	
KY
	
Yes
	
 

	
3811
	
SYLVESTER, GA
	
620 E. FRANKLIN STREET #A
	
SYLVESTER
	
GA
	
Yes
	
 

	
3815
	
MCRAE, GA
	
112 W. OAK STREET
	
MCRAE
	
GA
	
Yes
	
 

	
3860
	
SAINT JOSEPH, LA
	
320 PLANK RD
	
SAINT JOSEPH
	
LA
	
Yes
	
 

	
3885
	
RIPLEY, TN
	
251 S WASHINGTON ST
	
RIPLEY
	
TN
	
Yes
	
 

	
3903
	
SUMMERVILLE, GA
	
103 HWY 48
	
SUMMERVILLE
	
GA
	
Yes
	
 

	
3917
	
SCOTTS HILL, TN
	
640 HWY 114 SOUTH
	
SCOTTS HILL
	
TN
	
Yes
	
 

	
3920
	
UNION, MS
	
801 E JACKSON RD
	
UNION
	
MS
	
Yes
	
 

	
3923
	
GREENSBURG, LA
	
6216 HIGHWAY 10
	
GREENSBURG
	
LA
	
Yes
	
 

 

							
	
3925
	
VARDAMAN, MS
	
101 W SWEET POTATO ST
	
VARDAMAN
	
MS
	
Yes
	
 

	
3937
	
WARE SHOALS, SC
	
743 N GREENWOOD AVE
	
WARE SHOALS
	
SC
	
Yes
	
 

	
3957
	
LAKE PROVIDENCE, LA
	
303 N. HOOD STREET
	
LAKE PROVIDENCE
	
LA
	
Yes
	
 

	
3963
	
TRYON, NC
	
38 N. TRADE STREET
	
TRYON
	
NC
	
Yes
	
 

	
3230
	
WINNFIELD, LA
	
2001 W COURT ST
	
WINNFIELD
	
LA
	
Yes
	
 

	
3965
	
IDABEL, OK
	
810 SE WASHINGTON ST.
	
IDABEL
	
OK
	
Yes
	
 

 

 

 

 

 

EXHIBIT E

 

Closed Stores (Wave IV)1

 

					
	
Store
	
City
	
State
	
Address
	
ZIP

	
1027
	
Abbeville
	
SC
	
763 SR-28
	
29620

	
1035
	
Arcadia
	
LA
	
1311 NORTH HAZEL STREET
	
71001

	
1043
	
Alma
	
GA
	
WILLIAMS ST
	
31510

	
1055
	
Andrews
	
NC
	
118 MAIN STREET
	
28901

	
1070
	
Arlington
	
TN
	
11888 HWY 70
	
38002

	
1080
	
Butler 
	
AL
	
307 NORTH MULBERRY AVE
	
36904

	
1083
	
Alexandria 
	
AL
	
120 SPRING BRANCH DR
	
36250

	
1093
	
Belton
	
SC
	
116 RIVER STREET
	
29627

	
1113
	
Andrews
	
SC
	
311 EAST MAIN ST
	
29510

	
1125
	
Bay Springs
	
MS
	
2675 HWY 15
	
39422

	
1145
	
Bruce
	
MS
	
403 W. CALHOUN ST.
	
38915

	
1158
	
Bayou La Batre
	
AL
	
13210 NORTH WINTZELL AVE
	
36509

	
1160
	
Belzoni
	
MS
	
520 NORTH HAYDEN ST
	
39038

	
1163
	
Bonifay 
	
FL
	
1718 SOUTH WAUKESHA ST
	
32425

	
1188
	
Burkesville
	
KY
	
260 KEEN STREET
	
42717

	
1198
	
Byron 
	
GA
	
214 HWY 49
	
31008

	
1210
	
Canton
	
MS
	
229 NORTH UNION
	
39046

	
1218
	
Cadiz
	
KY
	
1938 MAIN STREET
	
42211

	
1220
	
Carthage
	
MS
	
300 SOUTH PEARLE STREET
	
39051

	
1235
	
Centreville
	
MS
	
456 HWY 24
	
39631

	
1278
	
Collins
	
MS
	
1211 SOUTH FIR AVE
	
39428

	
1280
	
Chatsworth
	
GA
	
1009 NORTH 3RD AVE
	
30705

	
1295
	
Columbia
	
LA
	
8155 US 165
	
71418

	
1300
	
Clarksdale
	
MS
	
236 DESOTO AVE
	
38614

	
1323
	
Bunkie
	
LA
	
109 CHEVY LN
	
71322

	
1348
	
Carthage
	
NC
	
102 MCREYNOLDS ST
	
28327

	
1375
	
Clanton
	
AL
	
300 PARK DR
	
35046

	
1405
	
Darien
	
GA
	
HWY 17 NORTH
	
31305

	
1408
	
Daingerfield
	
TX
	
218 WATSON BLVD
	
75638

	
1420
	
Dequeen
	
AR
	
808 WEST COLLIN RAYE DR.
	
71832

	
1430
	
Daleville
	
AL
	
340 VIRGINIA AVE
	
36322

	
1440
	
Dover
	
TN
	
1560 DONELSON PKWY
	
37058

	
1495
	
Chickamauga
	
GA
	
93 BUSHROD JOHNSON AVE
	
30707

	
1500
	
Edgefield
	
SC
	
227 APPLE SQUARE PLAZA
	
29824

	
1503
	
Alamo
	
TN
	
1200 WEST CHURCH ST
	
38001

	
	 

	
1
	
 Highlighted stores reflect "front store" closures only.

 

 

					
	
1505
	
East Prarie
	
MO
	
125 E MAIN ST
	
63845

	
1520
	
Eupora
	
MS
	
300 SR-9
	
39744

	
1533
	
Benton
	
LA
	
5604 HWY 3
	
71006

	
1540
	
Elba
	
AL
	
996 HIGHWAY 203
	
36323

	
1550
	
Erin 
	
TN
	
5897 EAST MAIN ST.
	
37061

	
1585
	
Fairfield
	
TX
	
375 W HWY 84
	
75840

	
1588
	
Baldwyn
	
MS
	
441 N FOURTH ST
	
38824

	
1608
	
Dumas
	
AR
	
611 US 65 S
	
71639

	
1640
	
Fulton
	
MS
	
1409 ADAMS STREET
	
38843

	
1700
	
Flora
	
MS
	
101 MANSKER DRIVE
	
39071

	
1715
	
Guin
	
AL
	
7250 US-43
	
35563

	
1753
	
Greenwood
	
MS
	
2616 HWY 82 EAST
	
38930

	
1765
	
Henderson
	
TN
	
535 WEST MAIN
	
38340

	
1825
	
Haughton
	
LA
	
1075 HWY 80 EAST
	
71037

	
1830
	
Hiawassee
	
GA
	
534 BELL CREEK RD
	
30546

	
1865
	
Harrisburg
	
AR
	
1301 NORTH ILLINOIS AVE
	
72432

	
1873
	
Greensboro
	
GA
	
203 N MAIN ST
	
30642

	
1880
	
Holiday Island
	
AR
	
#2 FOREST PARK AVE
	
72631

	
1883
	
Hawkins
	
TX
	
850 N BEAULAH ST
	
75765

	
1900
	
Haleyville
	
AL
	
916 21ST STREET
	
35565

	
1910
	
Iuka
	
MS
	
615 HWY 25 SOUTH
	
38852

	
1918
	
Hogansville
	
GA
	
2001 BILLY TUCKER CL
	
30230

	
1928
	
Dekalb
	
MS
	
14916 SR-16
	
39328

	
1998
	
Homer
	
LA
	
902 WEST MAIN ST
	
71040

	
2035
	
Jasper
	
AL
	
280 HIGHWAY 78 WEST
	
35501

	
2053
	
Jackson Old Canton
	
MS
	
6230 OLD CANTON RD
	
39211

	
2090
	
Bossier City
	
LA
	
5590 BARKSDALE BLVD
	
71112

	
2123
	
Kinder
	
LA
	
715 1ST AVE
	
70648

	
2160
	
Lake Village
	
AR
	
1218 US-82
	
71653

	
2185
	
Livingston
	
TN
	
890 E MAIN ST
	
38570

	
2210
	
Louisvillle
	
MS
	
502 SOUTH CHURCH
	
39339

	
2215
	
Linden 
	
TN
	
88 LOVELVILLE HWY
	
37096

	
2253
	
Madison
	
FL
	
935 EAST HIGHWAY 90
	
32340

	
2265
	
Manila
	
AR
	
801 SOUTH HIGHWAY 77
	
72442

	
2280
	
Marianna
	
AR
	
438 SOUTH ALABAMA ST
	
72360

	
2330
	
Marked Tree
	
AR
	
103 DAWSON ST
	
72365

	
2335
	
East Monroe
	
LA
	
522 LINCOLN RD
	
71203

	
2348
	
Mcleansboro
	
IL
	
213 West Randolph Street
	
62859

	
2360
	
Mckenzie
	
TN
	
87 SOUTH MAIN ST.
	
38201

	
2365
	
Monticello
	
MS
	
1509 BROAD STREET WEST
	
39654

	
2378
	
Monticello
	
FL
	
1150 N JEFFERSON ST
	
32344

 

					
	
2385
	
Helena (Mcrae)
	
GA
	
124 8TH STREET
	
31037

	
2395
	
Mendenhall
	
MS
	
3050 SIMPSON, HWY 13
	
39114

	
2410
	
New Albany
	
MS
	
126 WEST MAIN STREET
	
38652

	
2425
	
Nashville
	
GA
	
719 SOUTH DAVIS ST
	
31639

	
2440
	
Nashville
	
AR
	
614 SOUTH MAIN ST
	
71852

	
2445
	
Natchez
	
MS
	
31 SGT PRENTISS DRIVE
	
39120

	
2475
	
Maynardville
	
TN
	
3561 MAYNARDVILLE HWY
	
37807

	
2485
	
Leakesville
	
MS
	
951 MAIN ST
	
39451

	
2488
	
McComb
	
MS
	
1618 DELAWARE AVE
	
39648

	
2575
	
Poplarville
	
MS
	
1388 SOUTH MAIN ST
	
39470

	
2590
	
Pikeville
	
TN
	
327 N. MAIN ST.
	
37367

	
2598
	
Memphis Lamar
	
TN
	
1290 LAMAR AVE
	
38104

	
2615
	
Piggott
	
AR
	
303 EAST MAIN ST
	
72454

	
2650
	
Pine Bluff
	
AR
	
2809 SOUTH CAMDEN RD
	
71603

	
2655
	
Portageville
	
MO
	
499 West Hwy 162
	
63873

	
2665
	
Pittsburg
	
TX
	
113 NORTH GREER BLVD
	
75686

	
2670
	
Prentiss
	
MS
	
1635 COLUMBIA AVE
	
39474

	
2695
	
Purvis
	
MS
	
509 HWY 589
	
39475

	
2711
	
Parsons
	
TN
	
501 TENNESSEE AVE NORTH
	
38363

	
2715
	
Charleston
	
MS
	
304 W MAIN ST
	
38921

	
2717
	
Marks
	
MS
	
1039 MARTIN LUTHER KING DRIVE
	
38646

	
2725
	
Monterey
	
TN
	
250 E. STRATTON AVE
	
38574

	
2750
	
Red Bay
	
AL
	
525 4TH AVENUE NE
	
35582

	
2758
	
Rogersville
	
AL
	
16100 HWY 72
	
35652

	
2798
	
Ruston
	
LA
	
2019 FARMERVILLE HWY
	
71270

	
2870
	
Saltillo
	
MS
	
111 WILLOW BROOK DRIVE
	
38866

	
2873
	
Shelby 
	
NC
	
1528 SOUTH LAFAYETTE ST
	
28152

	
2895
	
Sumrall
	
MS
	
4233 Rocky Branch Road
	
39482

	
2953
	
Southaven
	
MS
	
710 CHURCH ROAD
	
38671

	
2958
	
Social Circle
	
GA
	
1567 N CHEROKEE RD
	
30025

	
2970
	
Somerville
	
TN
	
16280 US-64
	
38068

	
2980
	
Star City
	
AR
	
1309 S Lincoln St
	
71667

	
2990
	
St Francisville
	
LA
	
7139 U.S HWY 61
	
70775

	
2995
	
Sylvester
	
GA
	
204 EAST KELLY ST.
	
31791

	
3010
	
Tiptonville
	
TN
	
730 EVERETT STREET
	
38079

	
3020
	
Tunica
	
MS
	
1038 US 61
	
38676

	
3050
	
Trenton
	
TN
	
2045 US 45 
	
38382

	
3078
	
Sterlington
	
LA
	
1320 SR-2
	
71280

	
3083
	
Southaven
	
MS
	
2110 GOODMAN ROAD EAST
	
38671

	
3175
	
Vernon
	
AL
	
9574 HWY-18
	
35592

	
3178
	
Vilonia
	
AR
	
10 EAGLE ST
	
72173

 

					
	
3205
	
Washington
	
GA
	
923 N BYPASS EAST
	
30673

	
3210
	
Water Valley
	
MS
	
409 DUNCAN STREET
	
38965

	
3220
	
White Bluff
	
TN
	
4928 HWY 70
	
37187

	
3225
	
Waynesboro
	
TN
	
307 HWY 64  EAST
	
38485

	
3240
	
Winona
	
MS
	
603 MIDDLETON RD
	
38967

	
3245
	
West Helena
	
AR
	
HWY 49 TWIN CITY S/C
	
72390

	
3250
	
Westmoreland
	
TN
	
5305 NEW HIGHWAY 31 E
	
37186

	
3280
	
Williamston
	
SC
	
297 SOUTH HWY 20
	
29669

	
3310
	
Warren
	
AR
	
507 WEST PINE
	
71671

	
3370
	
Wrens
	
GA
	
605 N MAIN ST
	
30833

	
3410
	
Yellville
	
AR
	
320 HWY 14 SOUTH
	
72687

	
6027
	
Tompkinsville 
	
KY
	
509 NORTH MAIN ST
	
42167AGREEMENT

 

WHEREAS, this Agreement (the “Agreement”) is made and entered into effective as of February 22, 2018, by and between GB SCIENCES, INC. (“GBS”), and any and all of its subsidiaries including, but not limited to, GB SCIENCES NEVADA, LLC, and GROWBLOX SCIENCES, INC., and PACIFIC LEAF VENTURES, LP (“Pacific Leaf”), and any and all of its subsidiaries.

 

WHEREAS, this Agreement along with any and all duly-authorized exhibits, appendices, addenda, schedules, and amendments hereto, encompasses the entire agreement of the parties and any and all of their subsidiaries, and supersedes and replaces any and all previous understandings and agreements between the parties and any and all of their subsidiaries, whether oral or written, including, but not limited to, superseding and replacing the following understandings and agreements:

 

A.“6% Senior Secured Convertible Promissory Note” dated June 8, 2015, by and between GrowBlox Sciences, Inc., and Pacific Leaf Ventures, LP;  

 

B.“Amended and Restated 6% Senior Secured Convertible Promissory Note” dated February 8, 2016, by and between GrowBlox Sciences, Inc., and Pacific Leaf Ventures, LP; 

 

C.“Note Purchase Agreement” dated May 12, 2015, by and between GrowBlox Sciences, Inc., and Pacific Leaf Ventures, LP; 

 

D.“Royalty Agreement” dated June 8, 2015, by and between GrowBlox Sciences, Inc., and Pacific Leaf Ventures, LP (as amended to date, the “Royalty Agreement”);  

 

E.“Security Agreement” dated June 8, 2015, by and between GrowBlox Sciences, Inc., GB Sciences Nevada, LLC, and Pacific Leaf Ventures, LP; and 

 

F.“Second Omnibus Amendment” dated August 4, 2016, by and between GrowBlox Sciences, Inc., GB Sciences Nevada, LLC, and Pacific Leaf Ventures, LP. 

 

WHEREAS, any and all other understandings and agreements between the parties and any and all of their subsidiaries, whether oral or written, are fully and completely terminated and rendered null and void, subject to the terms and conditions in this Agreement.

 

NOW THEREFORE, in consideration of the promises and the mutual covenants and agreements hereinafter set forth and for other good and valuable consideration, the parties and any and all of their subsidiaries hereto covenant and agree as follows:

1

1.In consideration for the full and complete termination of any and all other understandings and agreements between the parties and any and all of their subsidiaries, whether oral or written, GBS agrees to pay and Pacific Leaf agrees to accept (A) the sum of $2,500,000.00 cash in installments by wire transfer to the account designated by Pacific Leaf as follows: (1) $1,000,000.00 cash payable upon complete execution of this Agreement; and (2) $1,500,000.00 cash payable on or before July 31, 2018; (B) $269,818.05 cash by wire transfer to the account designated by Pacific Leaf upon complete execution of this Agreement for royalties due to Pacific Leaf through December 31, 2017; and (C) the shares of Common Stock to be issued pursuant to Section 2 below. 

 

2.Further, in consideration for the full and complete termination of any and all other understandings and agreements between the parties and any and all of their subsidiaries, whether oral or written, GBS agrees to pay and Pacific Leaf agrees to accept a payment of 1,600,000 shares (the “Shares”) of GBS’s Common Stock (“Common Stock”) issued on or before July 31, 2018, which shall be restricted under Rule 144 under the Securities Act of 1933, as amended (the “Act”). The number of Shares shall be equitably adjusted in the event GBS effects a stock split or stock dividend after the date hereof and prior to issuance of the Shares.  In addition, GBS shall in no event issue the Shares later than immediately prior to (i) any reclassification or capital reorganization, including any consolidation or merger of GBS with or into another corporation, or (ii) any sale, lease or conveyance to another corporation of all or substantially all of the assets of GBS. For the purpose of clarity, the parties acknowledge and agree that an increase in the number of shares of Common Stock that GBS is authorized to issue, the potential issuance of said shares, or the use of said shares by GBS in the acquisition of other assets or companies shall not result in any change in the number of Shares issuable hereunder or accelerate the timing for the issuance of such Shares. The Shares, when issued and delivered to Pacific Leaf, shall be fully paid and non-assessable. The Shares, together with the payments under Section 1 above, constitute payment for Pacific Leaf’s agreement to fully and completely terminate any and all other understandings and agreements between the parties and any and all of their subsidiaries, whether oral or written, and are nonrefundable, non-apportionable, and non-ratable. Such Shares are not a prepayment for future services. 

 

a.The Shares issued pursuant to this Agreement shall be issued in the name of Pacific Leaf Ventures, LP, Tax ID No. 47-3988708. 

 

b.With the transfer of Shares, if required by applicable law or reasonably requested by Pacific Leaf, GBS shall cause to be issued a certificate representing the Shares and a written opinion of counsel for GBS stating that said shares are validly issued, fully paid and non-assessable and that the issuance and eventual transfer of them to Pacific Leaf has been duly authorized by GBS. 

2

c.Pacific Leaf acknowledges that the Shares to be issued pursuant to this Agreement have not been registered under the Act, and accordingly are “restricted securities” within the meaning of Rule 144 of the Act. As such, the Shares may not be resold or transferred unless GBS has received an opinion of counsel reasonably satisfactory to GBS that such resale or transfer is exempt from the registration requirements of that Act. GBS agrees to take any and all action(s) necessary to clear the subject securities of restriction upon presentation of any Rule 144(d) application by Pacific Leaf or its broker, including, but not limited to: (1) Authorizing GBS’s transfer agent to remove the restrictive legend on the subject securities; (2) Expediting either the acquisition of a legal opinion from GBS’s counsel authorizing the removal of the restrictive legend, or accepting a third party legal opinion acknowledging same; and (3) Cooperating and communicating with Pacific Leaf and its broker in order to use GBS’s best efforts to clear the subject securities of restriction as soon as possible after presentation of a Rule 144(d) application by Pacific Leaf (or its broker) to either GBS and/or GBS’s transfer agent. Further, GBS agrees to not unreasonably withhold or delay approval of any application filed by Pacific Leaf under Rule 144(d) of the Act to clear the subject securities of restriction. 

 

d.In connection with the acquisition of the Shares hereunder, Pacific Leaf represents and warrants to GBS, to the best of its knowledge, as follows: 

 

i.Pacific Leaf acknowledges that it has been afforded the opportunity to ask questions of and receive answers from duly authorized officers or other representatives of GBS concerning an investment in the Shares, and any additional information which Pacific Leaf has requested. 

 

ii.Pacific Leaf’s investment in the Shares is reasonable in relation to Pacific Leaf’s net worth. Pacific Leaf has had experience in investments in restricted and publicly traded securities, and Pacific Leaf has had experience in investments in speculative securities and other investments that involve the risk of loss of investment. Pacific Leaf acknowledges that an investment in the Shares is speculative and involves the risk of loss. Pacific Leaf has the requisite knowledge to assess the relative merits and risks of this investment without the necessity of relying upon other advisors, and Pacific Leaf can afford the risk of loss of his entire investment in the Shares. 

 

iii.Pacific Leaf is acquiring the Shares for its own account for long-term investment and not with a view toward resale or distribution thereof except in accordance with applicable securities laws. 

3

3.Termination of Agreement and Dispute Resolution 

 

a.In the event GBS does not satisfy the agreement to pay Pacific Leaf (1) the sum of $1,269,818.05 cash payable upon complete execution of this Agreement, (2) the sum of $1,500,000.00 cash payable on or before July 31, 2018, or (3) the Shares on or before July 31, 2018:  

 

i.The Royalty Agreement shall continue in full force and effect as if this Agreement had not been entered into; 

 

ii.Any and all other understandings and agreements between the parties and any and all of their subsidiaries, whether oral or written, in effect at the time of the effective date of this Agreement that would have otherwise been terminated pursuant to this Agreement shall not be terminated and rendered null and void, and instead shall continue in full force and effect; and 

 

iii.In the event of the foregoing, 75% (seventy-five percent)  of any and all cash payments made by GBS to Pacific Life pursuant to this Agreement shall be credited against any royalties accrued or payable to Pacific Leaf.  

 

b.Notwithstanding anything to the contrary, if either party materially breaches this Agreement, the non-breaching party may, at his or its election, immediately terminate the Agreement thereby relieving the non-breaching party of any obligation there under. Alternatively, the non-breaching party may proceed with performance without waiving any rights under the Agreement. A material breach will mean and refer to a party’s failure to comply with any covenants or obligations specified in this Agreement. 

 

c.In the event of a dispute arising between parties, the dispute shall be submitted to mediation. The parties shall bear the costs of mediation equally. In the event that either party refuses to participate in mediation said party shall be prohibited from recovering attorney fees notwithstanding anything to the contrary in this agreement. 

 

d.If mediation should fail to resolve the dispute between the parties, the matter shall be submitted to binding arbitration. The costs of arbitration shall be equally shared by the parties until the dispute is either settled or adjudicated, at which time the arbitration may award said fees and costs to the prevailing party. 

 

4.Waiver. The waiver by either party of a breach of any provision of this Agreement by the other party shall not operate or be construed as a waiver of any subsequent breach by such other party. 

4

5.Attorney’s Fee. Subject to the Dispute Resolution terms contained in this Agreement, if any action is brought for the enforcement or interpretation of this Agreement, or because of an alleged dispute, breach, default or misrepresentation in connection with or related to this Agreement, the successful or prevailing party shall be entitled to recover reasonable attorneys’ fees and other costs in connection with that action, in addition to any other relief to which it or they may be entitled as determined through the required mediation or arbitration. 

 

6.Notices. All notices, requests, and other communications hereunder shall be deemed to be duly given if sent by U.S. mail, postage prepaid, addressed to the other party at the address as set forth herein below: 

 

GB Sciences, Inc.

ATTN:  John C. Poss

3550 West Teco Avenue

Las Vegas, Nevada  89118

 

PACIFIC LEAF VENTURES, LP

ATTN: David Weiner

12400 Ventura, #327

Studio City, California 91604

 

7.Complete Agreement. This Agreement contains the entire agreement of the parties relating to the subject matter hereof. This Agreement and its terms may not be changed orally but only by an agreement in writing signed by the party against whom enforcement of any waiver, change, modification, extension or discharge is sought. 

 

8.Severable Provisions.  The provisions of this Agreement are severable, and if any one or more provisions may be determined to be illegal or otherwise unenforceable, in whole or in part, the remaining provisions and any partially unenforceable provisions to the extent enforceable shall nevertheless be binding and enforceable. 

 

9.Counterparts. This Agreement may be executed in two (2) or more counterparts, each and all of which shall be deemed an original and all of which together shall constitute but one and the same instrument. Faxed or emailed signatures on this Agreement or electronic signatures on this Agreement shall be as effective as original signatures on this Agreement. 

By your signature below you acknowledge that you have read and understand the foregoing Agreement, have had the opportunity to consult legal and financial counsel, that you agree to comply with all of the terms of the Agreement, and that you have received a copy of the Agreement.

5

This Agreement has been duly signed by the parties and any and all of their subsidiaries hereto:

AGREED TO:

 

GB SCIENCES, INC.

By:

Name:John C. Poss 

Title:CEO and President 

 

GB SCIENCES NEVADA LLC

By:

Name:

Title:

 

PACIFIC LEAF VENTURES, LP

By:

Name:David Weiner 

Title:Manager of General Partner 

6

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