Document:

<PAGE>

                                                                 Exhibit 10.17.1

                           AMENDMENT AGREEMENT NO. 9

                                to that certain

                    REVOLVING CREDIT AND TERM LOAN AGREEMENT

     This AMENDMENT AGREEMENT NO. 9 (this "Amendment") dated as of December 24,
                                           ---------
2000, is among (a) CHART HOUSE ENTERPRISES, INC. (the "Parent"), (b) CHART
                                                       ------
HOUSE, INC. (the "Borrower"), (c) FLEET NATIONAL BANK (formerly known as
                  --------
BankBoston, N.A.) and the other lending institutions listed on Schedule 1 to the
                                                               -------- -
Credit Agreement (collectively, the "Banks"), and (d) FLEET NATIONAL BANK
                                     -----
(formerly known as BankBoston, N.A.) as agent (the " Agent") for itself and the
                                                     -----
other Banks.

     WHEREAS, the Parent, the Borrower, the Banks and the Agent are parties to
that certain Revolving Credit Agreement and Term Loan Agreement, dated as of
April 26, 1999 (as amended and in effect from time to time, the "Credit
                                                                 ------
Agreement"), pursuant to which the Banks, upon certain terms and conditions,
---------
have agreed to make loans to, and to issue letters of credit for the benefit of,
the Borrower; and

     WHEREAS, the Borrower has requested that the Agent and the Banks agree, and
the Agent and the Banks have agreed, on the terms and subject to the conditions
set forth herein, to amend certain of the terms and provisions of the Credit
Agreement;

     NOW, THEREFORE, the parties hereto hereby agree as follows:

     (S)1.  Defined Terms.  Capitalized terms which are used herein without
            -------------
definition and which are defined in the Credit Agreement shall have the same
meanings herein as in the Credit Agreement.

     (S)2.  Amendments to Section 1 of the Credit Agreement.
            -----------------------------------------------

          Section 1.1 of the Credit Agreement is hereby amended by

          (a)  deleting the definition of "Additional Samstock Subordinated
                                           --------------------------------
     Debt" in its entirety and replacing it with the following:

               "Additional Samstock Subordinated Debt.  Unsecured subordinated
                -------------------------------------
          Indebtedness of the Borrower in an amount not more than $11,000,000 in
          the aggregate and the guaranty of such indebtedness by the Parent
          incurred pursuant to the Amended and Restated Subordinated Promissory
          Note and Guaranty dated as of February 20, 2001 (the "Additional
          Subordinated Note") made by the Borrower and the Parent in favor of
          EGI-Fund (01) Investors, L.L.C. and unsecured subordinated
          Indebtedness of the Subsidiaries of the Borrower evidenced by an
          amended and restated guaranty dated as of February 20, 2001 (the
          "Additional Subsidiary Guaranty"), made by
<PAGE>

          each subsidiary of the Borrower in favor of EGI-Fund (01) Investors,
          L.L.C., provided that, (a) each of the Additional Subordinated Note
                  --------
          and the Additional Subsidiary Guaranty will be expressly subordinated
          and made junior to the payment and performance in full of all of the
          Obligations pursuant to the provisions of the Amended and Restated
          Subordination Agreement, dated as of February 20, 2001 (the
          "Additional Subordination Agreement"), among the Parent, the Borrower,
          each of the Subsidiaries of the Borrower, the Agent and EGI-Fund (01)
          Investors, L.L.C., (b) the proceeds of the Additional Samstock
          Subordinated Debt shall be used for the purpose of making payments in
          respect of the Contractor Liabilities, the 2001 Pre-Opening Costs and
          for working capital purposes, and (c) the terms of the Additional
          Subordinated Note, the Additional Subordinated Guaranty and any
          subordination agreement relating thereto shall not be amended or
          otherwise modified without the written consent of the Agent and the
          Banks."

          (b)  deleting the definition of "Adjusted Leverage Ratio" in its
                                           -----------------------
     entirety and replacing it with the following:

               "Adjusted Leverage Ratio.  As at any date of determination, the
                -----------------------
          ratio of (a) the sum of (i) Consolidated Rental Expense of the Parent
          and its Subsidiaries for the Reference Period ending on such date
          multiplied by eight (8) plus (ii) Consolidated Senior Funded
                                  ----
          Indebtedness of the Parent and its Subsidiaries outstanding on such
          date, over (b) Consolidated EBITDAR of the Parent and its Subsidiaries
          for such Reference Period."

          (c)  deleting the definition of "Consolidated EBITDA" in its entirety
                                           -------------------
     and replacing it with the following:

               "Consolidated EBITDA.  With respect to the Parent and its
                -------------------
          Subsidiaries for any fiscal period, an amount equal to Consolidated
          Net Income for such period, plus, to the extent deducted in the
                                      ----
          calculation of Consolidated Net Income and without duplication, (a)
          depreciation and amortization for such period, (b) other noncash
          charges for such period, (c) income tax expense for such period, (d)
          Consolidated Interest Charges paid or accrued during such period, (e)
          the non-recurring charges for such period relating to the sale of each
          of the properties set forth on Schedule 1A attached hereto in an
                                         -----------
          amount not to exceed $5,000,000 in the aggregate, (f) Minority
          Interest for such period, (g) restaurant pre-opening costs for such
          period, (h) severance expenses in an amount not to exceed $400,000 in
          respect of fiscal year 2000, and (i) expenses associated with the
          Rights Offering in an amount not to exceed $750,000 in the aggregate,
          minus, without duplication, all Pro Forma Rents for such period."
          -----

                                       2
<PAGE>

          (d)  deleting the definition of "Consolidated Financial Obligations"
                                           ----------------------------------
     in its entirety and replacing it with the following:

               "Consolidated Financial Obligations.  For any period, the sum of
                ----------------------------------
          all scheduled payments of principal on Consolidated Senior Funded
          Indebtedness of the Parent and its Subsidiaries made or required to be
          made in such period, plus Consolidated Interest Charges of the Parent
          and its Subsidiaries for such Period."

          (e)  deleting the definition of "Initial Samstock Subordinated Debt"
                                           ----------------------------------
     in its entirety and replacing it with the following:

               "Initial Samstock Subordinated Debt.  Unsecured subordinated
                ----------------------------------
          Indebtedness of the Borrower and the guaranty of such indebtedness by
          the Parent incurred pursuant to the Amended and Restated Subordinated
          Promissory Note and Guaranty dated as of February 20, 2001 (the
          "Initial Subordinated Note") made by the Borrower and the Parent in
          favor of Samstock, L.L.C. and subsequently assigned to EGI-Fund (00)
          Investors, L.L.C. and unsecured subordinated Indebtedness of the
          Subsidiaries of the Borrower evidenced by the amended and restated
          guaranty dated as of February 20, 2001 (the "Initial Subsidiary
          Guaranty"), made by each subsidiary of the Borrower in favor of
          Samstock, L.L.C. and subsequently assigned to EGI-Fund (00) Investors,
          L.L.C., such Indebtedness being expressly subordinated and made junior
          to the payment and performance in full of all of the Obligations
          pursuant to the provisions of the Second Amended and Restated
          Subordination Agreement, dated as of February 20, 2001 (the "Initial
          Subordination Agreement"), among the Parent, the Borrower, each of the
          Subsidiaries of the Borrower, the Agent and EGI-Fund (00) Investors,
          L.L.C., provided that, the terms of the Initial Subordinated Note, the
                  -------- ----
          Initial Subordinated Guaranty and the Initial Subordination Agreement
          shall not be amended or otherwise modified without the written consent
          of the Agent and the Banks.

          (f)  deleting the definition of "Leverage Ratio" in its entirety and
                                           --------------
     replacing it with the following:

               "Leverage Ratio.  As at any date of determination, the ratio of
               ---------------
          (a) Consolidated Senior Funded Indebtedness of the Parent and its
          Subsidiaries outstanding on such date, over (b) Consolidated EBITDA of
          the Parent and its Subsidiaries for such Reference Period."

          (g) inserting the following new definitions in the appropriate
     alphabetical order:

                                       3
<PAGE>

               "2001 Pre-Opening Costs.  The pre-opening costs associated with
                ----------------------
          the new units located in West Palm Beach, Florida and Reston,
          Virginia, in an amount not to exceed $600,000 in the aggregate."

               "Consolidated Senior Funded Indebtedness.  With respect to the
                ---------------------------------------
          Parent and its Subsidiaries for any fiscal period, Consolidated Funded
          Indebtedness minus the aggregate amount of Samstock Subordinated
                       -----
          Debt."

               "Contractor Liabilities.  Collectively, (i) the principal amount
                ----------------------
          of $5,543,523.60 (together with all interest and fees thereon) owed to
          Shawmut and described in the Shawmut Payment Agreement, (ii)
          $1,900,000 in the aggregate on account of Capital Expenditures or New
          Restaurant Capital Expenditures contracted to be made at the
          Borrower's Jacksonville, West 52nd Street, Atlanta, Washington,
          Phoenix, West Palm Beach and Reston locations, (iii) $670,000 owed to
          Clark Construction, and (iv) $50,000 of development expenses,
          including preliminary design and site investigation expenses, related
          to the Chicago, Illinois and the Lincolnshire, Illinois locations."

               "Rights Offering.  That certain offering of nontransferable
                ---------------
          rights to stockholders of the Parent to purchase an aggregate of up to
          $8,000,000 newly issued shares of Series A senior convertible
          redeemable preferred stock of the Parent, par value $1.00 per share
          (the "Preferred Stock")."

               "Shawmut. Shawmut Woodworking & Supply Co., Inc. (d/b/a Shawmut
                -------
          Design and Construction)."

               "Shawmut Payment Agreement.  The Agreement dated as of February
                -------------------------
          2, 2001 between the Parent and Shawmut pursuant to which the Parent
          agreed to a payment schedule for all outstanding amounts owed to
          Shawmut."

               "Subordinated Debt Documents.  Collectively, the Initial
                ---------------------------
          Subordinated Note, the Initial Subsidiary Guaranty, the Initial
          Subordination Agreement, the Additional Subordinated Note, the
          Additional Subsidiary Guaranty and the Additional Subordination
          Agreement."

     (S)3.  Amendment to Section 2 of the Credit Agreement.  Section 2.1 of the
            ----------------------------------------------
Credit Agreement is hereby amended by deleting the last two sentences thereof in
their entirety.

     (S)4.  Amendments to Section 4 of the Credit Agreement.
            -----------------------------------------------

     (a) Section 4.3.2 of the Credit Agreement is hereby amended by deleting it
in its entirety and replacing it with the following:

                                       4
<PAGE>

               "4.3.2.  Annual Excess Operating Cash Flow Recapture.
                        -------------------------------------------

               For each fiscal year of the Parent ending on or after December
          31, 2001, the Borrower shall make a prepayment of principal on the
          Term Loan in an amount equal to seventy-five percent (75%) of Excess
          Operating Cash Flow for such fiscal year, such mandatory prepayment to
          be due one hundred five (105) days after the end of each applicable
          fiscal year and to be applied against the remaining scheduled
          installments of principal due on the Term Loan pro rata, with any
                                                         --------
          remaining amounts to be applied against the outstanding amount of the
          Revolving Credit Loans."

     (b) Section 4.3.3 of the Credit Agreement is hereby amended by inserting
the following new sentence at the end thereof:

          "Notwithstanding the foregoing, and whether or not a Default or Event
          of Default then exists or would result therefrom, the gross cash
          proceeds from the Rights Offering (together with the $5,000,000 of
          Samstock Subordinated Debt to remain outstanding following the
          consummation of the Rights Offering) shall be used to repay the
          Contractor Liabilities, the 2001 Pre-Opening Costs, the Samstock
          Subordinated Debt, accrued interest and fees in respect of the
          Samstock Subordinated Debt and expenses relating to the Rights
          Offering."

     (S)5.  Amendment to Section 10 of the Credit Agreement.  Section 10.4(i) of
            -----------------------------------------------
the Credit Agreement is hereby amended by (a) inserting after the words "each
fiscal month of the Parent," the words "(a)", and (b) inserting after the words
"satisfactory to the Banks" the words ", and (b) the monthly management report
of the Parent and its Subsidiaries for the next fiscal month, such monthly
management report to be substantially in the form of the monthly management
report previously delivered to the Banks and otherwise in form satisfactory to
the Banks."

     (S)6.  Amendments to Section 11 of the Credit Agreement.
            ------------------------------------------------

     (a) Section 11.5.2 of the Credit Agreement is hereby amended by inserting
the following new sentence at the end thereof:

     "Notwithstanding the foregoing and the provisions of (S)4.3.3, the Borrower
     shall be permitted to assign the ground lease for its Inner Harbor,
     Baltimore, Maryland location for an aggregate gross amount of not less than
     $900,000, such proceeds to be applied against the outstanding amount of the
     Revolving Credit Loans."

     (b) Section 11.11 of the Credit Agreement is hereby amended by deleting the
words "Other than the Samstock Subordinated Debt and, except" and replacing them
with the words "Other than the Samstock Subordinated Debt and the Rights
Offering (including the standby purchase arrangement contemplated thereunder),
and except".

                                       5
<PAGE>

     (c) Section 11 of the Credit Agreement is hereby amended by inserting the
following new Section 11.16 at the end thereof:

          "11.16.  Subordinated Debt.  The Borrower will not, and will not
                   -----------------
     permit any of its Subsidiaries to, prepay, redeem or repurchase any of the
     Samstock Subordinated Debt, provided that:

(a)  The Borrower may pay regularly scheduled accrued and unpaid interest
     pursuant to the terms of the Samstock Subordinated Debt, so long as (i) no
     Default or Event of Default then exists and none would exist after giving
     effect to any such payment of interest, (ii) the outstanding principal
     amount of the Samstock Subordinated Debt is (x) less than or equal to
     $5,000,000 and the Leverage Ratio is less than 2.50:1.00 as at the end of
     the most recently ended fiscal quarter of the Borrower ,or (y) greater than
     $5,000,000 and the Leverage Ratio is less than 2.00:1.00, and (iii) the
     Borrower has provided to the Agent a pro forma compliance certificate
                                          ---------
     evidencing compliance (after giving effect to the payment of such interest)
     with the financial covenants set forth in (S)12 hereof and with clause (ii)
     of this paragraph (a); and

(b)  Whether or not a Default or Event of Default then exists or would result
     therefrom, the Samstock Subordinated Debt (including accrued interest and
     fees thereon) may be prepaid with the proceeds of the Rights Offering, so
     long as (i) the Rights Offering yields gross cash proceeds to the Borrower
     of not less than $8,000,000, and (ii) such payment is made prior to July
     31, 2001.

     (S)7.  Amendments to Section 12 of the Credit Agreement.  Section 12 of the
            ------------------------------------------------
Credit Agreement is hereby amended by deleting it in its entirety and replacing
it with the following:

                   "12.  FINANCIAL COVENANTS OF THE BORROWER.
                         -----------------------------------

          The Borrower covenants and agrees that, so long as any Loan, Unpaid
     Reimbursement Obligation, Letter of Credit or Note is outstanding or any
     Bank has any obligation to make any Loans or the Agent has any obligation
     to issue, extend or renew any Letters of Credit:

          12.1.  Leverage.
                 --------

          The Borrower will not, as of the end of any Reference Period ending on
     a date at any time during any period described in the table set forth
     below, permit the Leverage Ratio for such Reference Period to exceed the
     ratio set forth opposite such period in such table:

                    Period                        Ratio
                    ------                        -----

                                       6
<PAGE>

       December 25, 2000 through March 26, 2001         4.20:1.00
         March 27, 2001 through June 25, 2001           3.70:1.00
       June 26, 2001 through September 24, 2001         3.30:1.00
     September 25, 2001 through December 31, 2001       3.30:1.00
         January 1, 2002 through April 1, 2002          3.25:1.00
          April 2, 2002 through July 1, 2002            3.00:1.00
       July 2, 2002 through September 30, 2002          2.75:1.00
      October 1, 2002 through December 30, 2002         2.50:1.00
                     Thereafter                         2.00:1.00

          12.2.  Intentionally omitted.
                 ---------------------

          12.3.  Debt Service. The Borrower will not, as of the end of any
                 ------------
     Reference Period ending on any date at any time during any period described
     in the table set forth below, permit the Debt Service Coverage Ratio for
     such Reference Period to be less than the ratio set forth opposite such
     period in such table.

                       Period                             Ratio
                       ------                             -----
     December 25, 2000 through September 24, 2001      1.075:1.00
     September 25, 2001 through December 31, 2001       1.10:1.00
        January 1, 2002 through July 1, 2002            1.20:1.00
         July 2, 2002 through June 30, 2003             1.25:1.00
                     Thereafter                         1.30:1.00

          12.4.  Interest Coverage. The Borrower will not, as of the end of any
                 -----------------
     Reference Period ending on any date at any time during any period described
     in the table set forth below, permit the Interest Coverage Ratio for such
     Reference Period to be less than the ratio set forth opposite such period
     in such table:

                       Period                             Ratio
                       ------                             -----

     December 25, 2000 through March 26, 2001           1.25:1.00
     March 27, 2001 through September 24, 2001          1.30:1.00
      September 25, 2001 through July 1, 2002           1.35:1.00
      July 2, 2002 through December 30, 2002            1.50:1.00
      December 31, 2002 through June 30, 2003           1.60:1.00
                     Thereafter                         1.80:1.00

                                       7
<PAGE>

          12.5.  Capital Expenditures.
                 --------------------

          (a)  The Borrower will not make, or permit any Subsidiary of the
     Borrower to make, Capital Expenditures in any fiscal year that exceed
     $35,000,000 in the aggregate in fiscal year 2000, $11,750,000 (of which
     $8,863,523.60 constitutes Contractor Liabilities) in the aggregate in
     fiscal year 2001, $3,500,000 in the aggregate in fiscal year 2002,
     $4,000,000 in the aggregate in fiscal year 2003 and $5,000,000 in the
     aggregate in fiscal year 2004; provided, however, that, if during any
                                    --------  -------
     fiscal year the amount of Capital Expenditures permitted for such fiscal
     year is not so utilized, fifty percent (50%) of such unutilized amount may
     be utilized in the next succeeding fiscal year but not in any subsequent
     fiscal year.  Notwithstanding the foregoing, any Capital Expenditures made
     in connection with the Acquisition shall not be Capital Expenditures for
     purposes of this (S)12.5(a).

          (b)  The Borrower will not enter into, or permit any Subsidiary of the
     Borrower to enter into, any agreement to fund any New Restaurant Capital
     Expenditures.  Notwithstanding the foregoing, the Borrower shall be
     permitted to make payments in respect of the Contractor Liabilities and the
     2001 Pre-Opening Costs provided, that such payments shall be made solely
                            --------
     with the proceeds from the Samstock Subordinated Debt, and that the
     Borrower provides the Agent with invoices and such other supporting
     documentation as the Agent may reasonably request in connection with such
     payments.

          12.6.  Adjusted Leverage Ratio. The Borrower will not, as of the end
                 -----------------------
     of any Reference Period ending on a date at any time during any period
     described in the table set forth below, permit the Adjusted Leverage Ratio
     for such Reference Period to exceed the ratio set forth opposite such
     period in such table:

                        Period                                    Ratio
                        ------                                    -----

       December 25, 2000 through March 26, 2001                 6.50:1.00
         March 27, 2001 through June 25, 2001                   6.20:1.00
        June 26, 2001 through December 31, 2001                 6.00:1.00
         January 1, 2001 through July 1, 2002                   5.50:1.00
          July 2, 2002 through March 31, 2003                   5.25:1.00
          April 1, 2003 through June 30, 2003                   5.00:1.00
        July 1, 2003 through September 29, 2003                 4.75:1.00
                      Thereafter                                4.50:1.00

          12.7.  Minimum EBITDA.
                 --------------

                                       8
<PAGE>

          (a) The Borrower will not, as of the end of any quarter ending during
     any period described in the table set forth below, permit Consolidated
     EBITDA for such fiscal quarter to be less than the amount set forth
     opposite such period in such table:

                    Period                                        Amount
                    ------                                        ------

       December 25, 2000 through March 26, 2001                 $2,000,000
         March 27, 2001 through June 25, 2001                   $2,500,000
       June 26, 2001 through September 24, 2001                 $2,200,000
     September 25, 2001 through December 31, 2001               $1,800,000
        January 1, 2002 through April 1, 2002                   $2,000,000
          April 2, 2002 through July 1, 2002                    $3,100,000
       July 2, 2002 through September 30, 2002                  $2,500,000
      October 1, 2002 through December 30, 2002                 $1,800,000

          (b) The Borrower will not, as of the end of any Reference Period
     ending on a date at any time during any period described in the table set
     forth below, permit Consolidated EBITDA for such Reference Period to exceed
     the ratio set forth opposite such period in such table:

       December 31, 2002 through March 31, 2003                $10,450,000
         April 1, 2003 through June 30, 2003                   $10,700,000
       July 1, 2003 through September 29, 2003                 $10,800,000
     September 30, 2003 through December 29, 2003              $10,900,000

     (S)8.   Amendment to Section 15 of the Credit Agreement. Section 15.1(r) of
             -----------------------------------------------
the Credit Agreement is hereby amended by inserting the words "(other than by
virtue of operation of the Third Amended and Restated Standstill Agreement,
dated as of February __, 2001, among the Parent, EGI-Chart House Investors, LLC,
Samstock, L.L.C. and the other parties named therein or the exercise of voting
rights of the holders of the Preferred Stock)" at the end thereof.

     (S)9.   Amendment to Schedules to Credit Agreement.  Schedule 1 to the
             ------------------------------------------   -------- -
Credit Agreement is hereby deleted in its entirety and replaced with the new
Schedule 1 attached hereto.
-------- -

     (S)10.  Affirmation and Acknowledgement of the Banks.  The Agent and the
             --------------------------------------------
Banks hereby affirm and acknowledge to the Parent, the Borrower and the
Subsidiary Guarantors that, on the Effective Date, the Events of Default in
respect of the financial covenants set forth in (S)12 of the Credit Agreement
for the fiscal quarter ended December 25, 2000 have been cured or waived.

     (S)11.  Affirmation and Acknowledgment of the Parent and the Borrower.
             -------------------------------------------------------------
Each of the Parent and the Borrower hereby affirm and acknowledge to the Banks
as follows:

     (a) The Borrower hereby ratifies and confirms all of its Obligations to the
Banks, including, without limitation, the Loans, and the Borrower hereby affirms
its absolute and

                                       9
<PAGE>

unconditional promise to pay to the Banks all indebtedness, obligations and
liabilities in respect of the Loans, the Letters of Credit, and all other
amounts due under the Credit Agreement as amended hereby. The Borrower hereby
confirms that the Obligations are and remain secured pursuant to the Security
Documents and pursuant to all other instruments and documents executed and
delivered by the Borrower as security for the Obligations.

     (b) The Parent hereby acknowledges the provisions of this Amendment and
hereby reaffirms its absolute and unconditional guaranty of the Borrower's
payment and performance of the Obligations as more fully described in the Parent
Guaranty.  The Parent hereby confirms that its obligations under the Parent
Guaranty are and remain secured pursuant to the Security Documents to which it
is a party.

     (S)12.  Representations and Warranties.  The Parent and the Borrower hereby
             ------------------------------
represent and warrant to the Banks as follows:

     (a) The execution and delivery by the Parent, the Borrower and each
Subsidiary Guarantor of this Amendment, and the performance by the Parent, the
Borrower and each Subsidiary Guarantor of its obligations and agreements under
this Amendment and the Credit Agreement as amended hereby, are within the
corporate authority of the Parent, the Borrower, and each Subsidiary Guarantor,
have been duly authorized by all necessary corporate proceedings on behalf of
the Parent, the Borrower and each Subsidiary Guarantor and do not and will not
contravene any provision of law, statute, rule or regulation to which the
Parent, the Borrower or any Subsidiary Guarantor is subject or any of the
Parent's, the Borrower's, or any Subsidiary Guarantor's charter, other
incorporation papers, by-laws or any stock provision or any amendment thereof or
of any agreement or other instrument binding upon the Parent, the Borrower or
any Subsidiary Guarantor, the contravention of which would materially adversely
affect the business, assets or financial condition of the Borrower and its
Subsidiaries, considered as a whole, or of the Borrower, considered
individually.

    (b) This Amendment and the Credit Agreement as amended hereby constitute
legal, valid and binding obligations of the Parent, the Borrower and each
Subsidiary Guarantor, enforceable in accordance with their respective terms,
except as limited by bankruptcy, insolvency, reorganization, moratorium or other
laws relating to or affecting generally the enforcement of creditors' rights in
general, and by general principles of equity (regardless of whether such
enforceability is considered in a proceeding in equity or at law).

     (c) No approval or consent of, or filing with, any governmental agency or
authority is required to make valid and legally binding the execution, delivery
or performance by the Parent, the Borrower or any Subsidiary Guarantor of this
Amendment or the Credit Agreement as amended hereby.

     (d) The representations and warranties contained in (S)9 of the Credit
Agreement are true and correct at and as of the date made and as of the date
hereof, except to the extent of changes resulting from transactions contemplated
or permitted by this Amendment and the other Loan Documents, changes which have
been disclosed to the Agent and the Banks prior to the date hereof and changes
occurring in the ordinary course of business that singly or in the

                                       10
<PAGE>

aggregate are not materially adverse, and to the extent that such
representations and warranties relate expressly to an earlier date.

     (e)       Each of the Parent, the Borrower and each Subsidiary Guarantor
has performed and complied in all material respects with all terms and
conditions herein required to be performed or complied with by it prior to or at
the time hereof, and as of the date hereof, after giving effect to the
provisions hereof, there exists no Event of Default or Default.

     (f)       Except for the Contractor Liabilities, none of the Parent, the
Borrower or any Subsidiary Guarantor has any liability for, or on account of,
New Restaurant Capital Expenditures as of the Effective Date.

     (S)13.    Effectiveness.  This Amendment shall become effective as of
               -------------
December 24, 2000 upon the date (the "Effective Date") on which the Agent
                                      --------------
receives each of the following:

     (a)       a fully executed counterpart hereof signed by each of the Parent,
the Borrower, the Subsidiary Guarantors and the Banks;

     (b)       a guaranty granted by Samstock, L.L.C. in favor of the Agent, for
the benefit of the Banks, of the obligations incurred pursuant to the Additional
Subordinated Note;

     (c)       an amendment fee in the amount of $77,500 for the pro rata
accounts of the Banks;

     (d)       evidence that the Subordinated Debt Documents have been duly
executed and delivered by the respective parties thereto and shall be in full
force and effect; and

     (e)       board resolutions authorizing the Parent and the Borrower to
enter into and carry out the terms of the Subordinated Debt Documents, all in
form and substance satisfactory to the Agent and the Banks.

     (S)14.    Miscellaneous Provisions.
               ------------------------

     (a)       Except as otherwise expressly provided by this Amendment, all of
the terms, conditions and provisions of the Credit Agreement shall remain the
same. It is declared and agreed by each of the parties hereto that the Credit
Agreement, as amended hereby, shall continue in full force and effect, and that
this Amendment and the Credit Agreement shall be read and construed as one
instrument.

     (b)       This Amendment is intended to take effect as an agreement under
seal and shall be construed according to and governed by the laws of The
Commonwealth of Massachusetts.

     (c)       This Amendment may be executed in any number of counterparts, but
all such counterparts shall together constitute but one instrument. In making
proof of this Amendment it shall not be necessary to produce or account for more
than one counterpart signed by each party hereto by and against which
enforcement hereof is sought.

                                       11
<PAGE>

     (d)       The Borrower hereby agrees to pay to the Agent, on demand by the
Agent, all reasonable out-of-pocket costs and expenses incurred or sustained by
the Agent in connection with the preparation of this Amendment (including
reasonable legal fees).

                                       12
<PAGE>

     IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of
the date first written above.

                              CHART HOUSE ENTERPRISES, INC.

                              By:______________________________
                              Title:  President & Chief Executive Officer

                              CHART HOUSE, INC.

                              By:______________________________
                              Title:  President & Chief Executive Officer

                              FLEET NATIONAL BANK (f/k/a BankBoston, N.A.),
                              individually and as Agent

                              By:______________________________
                              Title:

                              BNP PARIBAS

                              By:______________________________
                              Title:

                              By:______________________________
                              Title:

                              ING (U.S.) CAPITAL LLC

                              By:______________________________
                                  Name:
                                  Title:
<PAGE>

                           RATIFICATION OF GUARANTY

          Each of the undersigned guarantors (each, a "Subsidiary Guarantor")
hereby acknowledges and consents to the foregoing Amendment as of December __,
2000, and agrees that the Subsidiary Guaranty (as defined in the Credit
Agreement, and each other guaranty executed by a Subsidiary Guarantor after the
Closing Date pursuant to the terms of the Credit Agreement) from each Subsidiary
Guarantor in favor of the Agent and each of the Banks remains in full force and
effect, and each of the Subsidiary Guarantors confirms and ratifies all of its
obligations thereunder.

                              CHART HOUSE ENTERPRISES OF IDAHO, INC., as
                              Subsidiary Guarantor

                              By:______________________________
                              Title:  Assistant Secretary

                              CHART HOUSE ENTERPRISES OF PUERTO RICO, INC., as
                              Subsidiary Guarantor

                              By:______________________________
                              Title:  President & Chief Executive Officer

                              CHART HOUSE OF ANNAPOLIS, INC., as Subsidiary
                              Guarantor

                              By:______________________________
                              Title:  President & Chief Executive Officer

                              CHART HOUSE OF MARYLAND, INC., as Subsidiary
                              Guarantor

                              By:______________________________
                              Title:  President & Chief Executive Officer
<PAGE>

                              CHART HOUSE ACQUISITION, INC., as Subsidiary
                              Guarantor

                              By:______________________________
                              Title:  President & Chief Executive Officer

                              BIG WAVE, INC., as Subsidiary Guarantor

                              By:______________________________
                              Title:  President & Chief Executive Officer

                              CORK 'N CLEAVER, INC., as Subsidiary Guarantor

                              By:______________________________
                              Title:  President & Chief Executive Officer

                              ANALOS COMPANY, as Subsidiary Guarantor

                              By:______________________________
                              Title:  President & Chief Executive Officer

                              WEST 52/nd/ STREET, INC., as Subsidiary Guarantor

                              By:______________________________
                              Title:  President & Chief Executive Officer

                              CHART HOUSE ACQUISITION OF NEVADA, INC., as
                              Subsidiary Guarantor

                              By:______________________________
                              Title:  President & Chief Executive Officer
<PAGE>

                              CHART HOUSE ACQUISITION OF MARYLAND, INC., as
                              Subsidiary Guarantor

                              By:______________________________
                              Title:  President & Chief Executive Officer
<PAGE>

                                  Schedule 1
                                  ----------
                           (as of December 24, 2000)
                           --- -- -------- --- -----

<TABLE>
<CAPTION>
--------------------------------------------------------------------------------------------------------------
                                      Revolving
                                       Credit             Commitment              Term             Commitment
           Banks                     Commitment           Percentage           Commitment          Percentage
--------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------
 <S>                                  <C>                  <C>                  <C>                 <C>
 Fleet National Bank (f/k/a
 BankBoston, N.A.)                    $ 8,750,000              50%              $ 6,750,000             50%
 Domestic and Eurodollar
 Lending Office
 100 Federal Street
 Boston, MA  02110
 Attn: Thomas P. Tansi
 Vice President
--------------------------------------------------------------------------------------------------------------
 Paribas
 Domestic and Eurodollar              $ 4,375,000              25%              $ 3,375,000             25%
 Lending Office
 227 West Monroe
 Suite 3300
 Chicago, IL  60606
 Attn: Steve Heinen
--------------------------------------------------------------------------------------------------------------
 ING (US) LLC
 Domestic and Eurodollar              $ 4,375,000              25%              $ 3,375,000             25%
 Lending Office:
 233 South Wacker Drive,
 Suite 5200
 Chicago, IL  60606
 Attn:  Gil Kirkpatrick

--------------------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------------------
   Totals:                            $17,500,000             100%              $13,500,000            100%

--------------------------------------------------------------------------------------------------------------
</TABLE><PAGE>

                                                                   EXHIBIT 10.20

 THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,
 AS AMENDED (THE "ACT"), AND MAY NOT BE SOLD, ASSIGNED OR TRANSFERRED EXCEPT
   (i) PURSUANT TO A REGISTRATION STATEMENT UNDER THE ACT WHICH HAS BECOME
 EFFECTIVE AND IS CURRENT WITH RESPECT TO THESE SECURITIES, OR (ii) PURSUANT
 TO A SPECIFIC EXEMPTION FROM REGISTRATION UNDER THE ACT CONSISTENT WITH ALL
APPLICABLE PROVISIONS OF THE ACT AS WELL AS ANY APPLICABLE "BLUE SKY" OR SIMILAR
                             STATE SECURITIES LAWS

  THE INDEBTEDNESS EVIDENCED BY THIS INSTRUMENT IS SUBORDINATED TO THE PRIOR
PAYMENT IN FULL OF ALL INDEBTEDNESS OF THE ISSUER (THE "SENIOR DEBT") INCURRED
 PURSUANT TO THAT CERTAIN REVOLVING CREDIT AND TERM LOAN AGREEMENT DATED AS OF
APRIL 26, 1999 (AS AMENDED FROM TIME TO TIME, THE "SENIOR CREDIT AGREEMENT") BY
AND AMONG CHART HOUSE ENTERPRISES, INC., A DELAWARE CORPORATION ("PARENT"), THE
 COMPANY (AS DEFINED BELOW), BANK BOSTON, N.A. (n/k/a FLEET NATIONAL BANK), AS
AGENT ("AGENT") AND THE FINANCIAL INSTITUTIONS SIGNATORIES THERETO, PURSUANT TO
 THAT CERTAIN SECOND AMENDED AND RESTATED SUBORDINATION AGREEMENT OF EVEN DATE
HEREWITH (AS AMENDED FROM TIME TO TIME, THE "SUBORDINATION AGREEMENT") EXECUTED
BY AGENT, PARENT, THE COMPANY, THE SUBSIDIARY GUARANTORS PARTY THERETO, AND EGI
                          FUND (00) INVESTORS, L.L.C.

                             Amended and Restated
                   Subordinated Promissory Note and Guaranty
                   -----------------------------------------

Chicago, Illinois
February 20, 2001                                                  $2,000,000.00

     FOR VALUE RECEIVED, CHART HOUSE, INC., a Delaware corporation (the
"Company"), promises to pay to the order of EGI Fund (00) Investors, L.L.C., a
Delaware limited liability company, or its assigns ("Holder", which term shall
include the holder, from time to time, of this Note) the sum of Two Million and
No/100ths Dollars ($2,000,000.00), in legal tender of the United States,
together with interest (computed on the basis of a 360-day year of twelve 30-day
months for actual days elapsed) on the principal amount outstanding from time to
time as provided in Section 1 hereof.

     1.   Payments of Principal and Interest.
          ----------------------------------

          (a) (i) Interest shall accrue on the unpaid principal of this Note and
     shall be computed at a rate per annum from time to time equal to the Then
     Applicable Eurodollar Rate (as defined below) plus sixteen percent (16%),
                                                   ----
     with such rate to change when and as such Then Applicable Eurodollar Rate
     changes.  Subject to the foregoing, interest hereunder shall be applicable,
     and otherwise computed, for Interest Periods and in a manner identical to
     the Interest Periods and manner applicable to the Loans under the Senior
     Credit Agreement (including Revolving Credit Loans and Term Loans).  As
     used in this Note, "Then Applicable Eurodollar Rate" shall mean, at any
     time, and from time to time, the Eurodollar Rate then applicable to the
     Loans under the Senior Credit Agreement (including Revolving Credit Loans
     and Term Loans), or any portion thereof, for the Eurodollar Rate Loan with
     the Interest Period with the then shortest remaining duration.  If at the
     time the Then Applicable Eurodollar Rate is to be calculated there is
<PAGE>

     no outstanding Eurodollar Rate Loan applicable to the Loans under the
     Senior Credit Agreement (including Revolving Credit Loans and Term Loans),
     the Then Applicable Eurodollar Rate shall equal the Eurodollar Rate which
     would be applicable to a Loan for a one month Interest Period under the
     terms of the Senior Credit Agreement. Except as provided below, to the
     extent permitted by applicable law, accrued but unpaid interest owing on
     this Note shall be added to the principal balance of this Note as of each
     Interest Payment Date applicable to the Eurodollar Rate Loan used in
     calculating the Then Applicable Eurodollar Rate, and shall accrue interest
     as if it were additional principal hereunder.

          (ii)  Notwithstanding the foregoing, at such time that either (A) the
     Senior Debt has been paid in full in cash or the Senior Credit Agreement
     shall otherwise be terminated or no longer in full force and effect (the
     "Senior Payment Date"), or (B) each of the following shall be true:  (I) no
     Default or Event of Default shall exist under the Senior Credit Agreement
     (and none would exist after giving effect to the payment of such interest),
     (II) if the outstanding principal amount of the Samstock Subordinated Debt
     (as defined in the Senior Credit Agreement) is (x) less than or equal to
     $5,000,000 and the Leverage Ratio (under the Senior Credit Agreement) is
     less than 2.50:1.00 as at the end of the most recently ended fiscal quarter
     of the Company, or (y) greater than $5,000,000 and the Leverage Ratio is
     less than 2.00:1.00 as at the end of the most recently ended fiscal quarter
     of the Company, and (III) the Company has delivered to Agent a pro forma
     compliance certificate evidencing compliance (after giving effect to the
     payment of such interest) with the financial covenants set forth in Section
     12 of the Senior Credit Agreement and with clause (II) above, then in
     either such case of (A) or (B) above, the Company may make, and Holder may
     receive, payment of accrued interest on the unpaid principal of this Note
     on each Interest Payment Date applicable to the Eurodollar Rate Loan used
     in calculating the Then Applicable Eurodollar Rate.

          (iii) The calculation of the Then Applicable Eurodollar Rate and the
     interest rate hereunder, and the determination of advances and payments
     made hereunder shall be made and determined by Holder and shall be binding
     upon the Company absent manifest error.  If not sooner paid, the total
     unpaid principal balance, all accrued but unpaid interest, and all other
     amounts owing hereunder, shall be due and payable on the Maturity Date (as
     hereinafter defined).  All payments of principal and interest shall be made
     to the holder of this Note not later than 1:00 p.m. (Chicago time) on the
     date and at the place of payment designated by the holder hereof as
     aforesaid, and any payment received on such date but after such hour shall
     be deemed to have been paid to and received by the holder hereof on the
     next succeeding business day.  If the date on which any payment is required
     to be made pursuant to this Note is not a business day, then such payment
     shall be due and payable on the next succeeding date which is not a
     Saturday, Sunday or legal holiday, and such extension of time shall be
     included in computing interest.  All payments of principal and interest
     made hereunder shall be applied first to accrued interest and then to
     principal.

          (b)   As used in this Note, the term "Maturity Date" shall mean the
date which is the first to occur of (i) March 31, 2005, and (ii) the date on
which the right to accelerate payment of this Note accrues to the holder hereof
as provided in this Note.

          (c)   All payments hereunder shall be made without reduction, and
shall not be subject to any claim or offset of any kind or nature whatsoever.
Without limiting the foregoing, all payments made by the Company or Parent under
this Note shall be made free and clear of,

                                      -2-
<PAGE>

and without deduction or withholding for or on account of, any future income,
stamp or other taxes, levies, imposts, deductions, charges, or withholdings,
excluding taxes imposed on net income of Holder (all such non-excluded taxes,
levies, imposts, deductions, charges or withholdings being hereinafter called
"Taxes"). If any Taxes are required to be withheld from any amounts so payable
to Holder hereunder, the amounts so payable to Holder shall be increased to the
extent necessary to yield to Holder (after payment of all Taxes) interest or any
such other amounts payable hereunder at the rates or in the amounts specified in
this Note.

          (d)   The terms and provisions of Sections 6.5 - 6.7 of the Senior
Credit Agreement shall be applicable to the indebtedness owing under this Note,
to the extent applicable, and with the necessary conforming modifications.

          (e)   After all principal, accrued interest, and all other amounts at
any time owed on this Note have been paid in full in cash, this Note shall be
surrendered to the Company for cancellation.

     2.   Prepayment by the Company.
          -------------------------

          (a)  Optional Prepayment.  This Note may be prepaid in whole or in
               -------------------
part without penalty or premium, together with all accrued interest on the
amount prepaid, and all other obligations then due and owing hereunder. Any
prepayment amount shall be first applied to collection costs and other amounts
(excluding principal and interest) due hereunder, then to accrued interest
hereunder, and then to principal.

          (b)  Mandatory Prepayment.
               --------------------

               (i)  On the Rights Offering Closing Date (as hereinafter
     defined), the Company shall apply the proceeds of the Rights Offering (as
     hereinafter defined) to pay to Holder in full in cash the entire
     outstanding principal (including capitalized interest) of, accrued but
     unpaid interest on, and all other amounts owing under this Note. The
     "Rights Offering Closing Date" shall mean the date on which Series A senior
     convertible redeemable preferred stock of Parent, par value $1.00 per share
     (the "Preferred Stock") is issued and sold by Parent to stockholders of
     Parent as have elected to purchase the Preferred Stock pursuant to that
     certain offering (the "Rights Offering") of nontransferable rights to the
     stockholders of Parent to purchase an aggregate of up to $8,000,000 newly
     issued Preferred Stock (the "Rights Offering Closing").

               (ii) From and after the Senior Payment Date, the Company shall
     make to Holder payment of all principal outstanding hereunder (including
     without limitation capitalized interest and fees) in equal quarterly
     installments on the last day of each March, June, September and December
     thereafter, and on the Maturity Date, commencing on the first of such dates
     to occur after the Senior Payment Date.

     3.   Events of Default.  Each of the following shall constitute an "Event
          -----------------
of Default," whatever the reason for such event and whether it shall be
voluntary or involuntary, or within or without the control of the Company, or be
effected by operation of law or pursuant to any judgment or order of any court
or any order, rule or regulation of any governmental or nongovernmental body:

                                      -3-
<PAGE>

          (a) The Company or Parent defaults in payment of the outstanding
principal, any accrued and unpaid interest on this Note or any other payments
due hereunder when the same become due and payable in accordance with the terms
of this Note; or

          (b) The Company or Parent fails to observe, perform or comply with any
covenant, condition or agreement to be observed, performed or complied with
under this Note, and if such failure can be cured, such failure continues
unwaived and uncured for thirty (30) days following the date the Company and
Parent receives written notice from Holder of such nonperformance (it being
acknowledged that such 30-day cure and notice period shall not apply to Section
6(e)(ii)); or

          (c) Any representation or warranty made by the Company or Parent
herein shall prove to have been untrue or incorrect in any material respect on
or as of the date made; or

          (d) The Company or any Guarantor shall (i) commence a voluntary case
under the Federal bankruptcy laws (as now or hereafter in effect), (ii) file a
petition seeking to take advantage of any other laws, domestic or foreign,
relating to bankruptcy, insolvency, reorganization, winding up or composition or
adjustment of debts, (iii) consent to or fail to contest in a timely and
appropriate manner any petition filed against it in an involuntary case under
such bankruptcy laws or other laws, (iv) apply for, or consent to, or fail to
contest in a timely and appropriate manner, the appointment of, or the taking of
possession by, a receiver, custodian, trustee or liquidator of itself or of a
substantial part of its assets domestic or foreign, (v) admit in writing its
inability to pay its debts as they become due, (vi) make a general assignment
for the benefit of creditors, or (vii) take any corporate action for the purpose
of effecting any of the foregoing; or

          (e) A case or other proceeding shall be commenced against the Company
or any Guarantor in any court of competent jurisdiction seeking (i) relief under
the Federal bankruptcy laws (as now or hereafter in effect) or under any other
laws, domestic or foreign, relating to bankruptcy, insolvency, reorganization,
winding up or adjustment of debts, or (ii) the appointment of a trustee,
receiver, custodian, liquidator or the like, of the Company or any Guarantor, or
of all or any substantial part of the assets, domestic or foreign, of the
Company or any Guarantor and such case or proceeding shall continue undismissed
or unstayed for a period of sixty (60) calendar days, or an order granting the
relief requested in such case or proceeding against the Company or any Guarantor
(including, but not limited to, an order for relief under such Federal
bankruptcy laws) shall be entered; or

          (f) The holders of the Senior Debt shall accelerate the Senior Debt or
there shall occur an Event of Default under the Senior Credit Agreement; or

          (g) The Amended and Restated Guaranty of even date herewith (the
"Guaranty") executed by the Company's Subsidiaries, or the guaranty set forth in
Section 4 hereof, in each case executed or given by the Guarantors, shall cease,
for any reason, to be in full force and effect, or any Guarantor shall so assert
or shall disavow liability thereunder; or

          (h) There shall occur an Event of Default or default under any
promissory note, guaranty, subordination agreement, reimbursement agreement,
standby purchase agreement, or other document or agreement, in any such case
relating to financing provided to the Company or the Rights Offering (as defined
in the Senior Credit Agreement), executed by

                                      -4-
<PAGE>

the Company, Parent and/or any of their respective subsidiaries made payable to,
in favor of, for the benefit of or together with Holder or any affiliate of
Holder.

          Upon the occurrence of an Event of Default hereunder, Holder may, upon
written notice to the Company, (i) declare all obligations owing hereunder
immediately due and payable, provided however that upon an Event of Default
described in Sections 3(d) or (e) above, all such obligations shall
automatically become immediately due and payable without notice or demand of any
kind, and (ii) pursue its other rights and remedies under this Note, the
Guaranty and applicable law.

          All powers and remedies given by this Section 3 to Holder shall, to
the extent permitted by law, be deemed cumulative and not exclusive of any
thereof or of any other powers and remedies available to Holder by judicial
proceedings or otherwise, to enforce the performance or observance of the
covenants and agreements contained in this Note, and no delay or omission of
Holder to exercise any right or power accruing upon any default occurring and
continuing as aforesaid shall impair any such right or an acquiescence therein
and every power and remedy given by this Section 3 or by law to Holder may be
exercised from time to time, and as often as shall be deemed expedient, by
Holder.

          In addition to those remedies set forth in this Section 3, if any
amount owing under this Note is not paid when due, whether at maturity or by
acceleration, interest shall accrue on such amount from the date due until the
date paid at the interest rate provided for in Section 1 of this Note.
Additionally, the Company promises to pay all costs of collection and
enforcement of this Note and the Guaranty, including, without limitation,
reasonable attorneys' fees and costs, whether or not suit is filed hereon.  Such
costs and expenses shall include without limitation all costs, reasonable
attorneys' fees and expenses incurred by Holder in connection with any
insolvency, bankruptcy, reorganization, arrangement or other similar proceedings
involving the Company or any Guarantor.

     4.   Guaranty.
          --------

          (a) Guaranty of Payment and Performance. The Parent hereby guarantees
              -----------------------------------
to Holder the full and punctual payment when due (whether at stated maturity, by
required pre-payment, by acceleration or otherwise), as well as the performance,
of all of the indebtedness and other amounts owing under this Note
(collectively, the "Obligations"), including all such Obligations which would
become due but for the operation of the automatic stay pursuant to (S)362(a) of
the Federal Bankruptcy Code and the operation of (S)(S)502(b) and 506(b) of the
Federal Bankruptcy Code. This guaranty is an absolute, unconditional and
continuing guaranty of the full and punctual payment and performance of all of
the Obligations and not of their collectability only and is in no way
conditioned upon any requirement that Holder first attempt to collect any of the
Obligations from the Company or resort to any collateral security or other means
of obtaining payment. Should the Company default in the payment or performance
of any of the Obligations, the obligations of the Parent hereunder with respect
to such Obligations in default shall, upon demand by Holder, become immediately
due and payable to Holder, without demand or notice of any nature, all of which
are expressly waived by the Parent.  Payments by the Parent hereunder may be
required by Holder on any number of occasions. All payments by the Parent
hereunder shall be made to the Holder, in the manner and at the place of payment
specified therefor for payments hereunder to be made by the Company.

                                      -5-
<PAGE>

          (b) Parent's Agreement to Pay Enforcement Costs, etc.  The Parent
              ------------------------------------------------
further agrees, as the principal obligor and not as a guarantor only, to pay to
Holder, on demand, all reasonable costs and expenses (including court costs and
reasonable legal expenses, including the allocated cost of staff counsel)
incurred or expended by Holder in connection with the Obligations, this guaranty
and the enforcement thereof, together with interest on amounts recoverable
hereunder from the time when such amounts become due until payment, whether
before or after judgment, at the rate of interest set forth in (S)1 hereof,
provided that if such interest exceeds the maximum amount permitted to be paid
---------
under applicable law, then such interest shall be reduced to such maximum
permitted amount.

          (c) Waivers by the Parent; Holder's Freedom to Act.  The Parent agrees
              ----------------------------------------------
that the Obligations will be paid and performed strictly in accordance with
their respective terms, regardless of any law, regulation or order now or
hereafter in effect in any jurisdiction affecting any of such terms or the
rights of Holder with respect thereto. The Parent waives promptness, diligence,
presentment, demand, protest, notice of acceptance, notice of any Obligations
incurred and all other notices of any kind, all defenses which may be available
by virtue of any valuation, stay, moratorium law or other similar law now or
hereafter in effect, any right to require the marshalling of assets of the
Company or any other entity or other Person primarily or secondarily liable with
respect to any of the Obligations, and all suretyship defenses generally.
Without limiting the generality of the foregoing, the Parent agrees to the
provisions of any instrument evidencing, securing or otherwise executed in
connection with any Obligation and agrees that the obligations of the Parent
hereunder shall not be released or discharged, in whole or in part, or otherwise
affected by (i) the failure of Holder to assert any claim or demand or to
enforce any right or remedy against the Company or any other entity or other
Person primarily or secondarily liable with respect to any of the Obligations;
(ii) any extensions, compromise, refinancing, consolidation or renewals of any
Obligation; (iii) any change in the time, place or manner of payment of any of
the Obligations or any rescissions, waivers, compromise, refinancing,
consolidation or other amendments or modifications of any of the terms or
provisions of this Note or any other agreement evidencing, securing or otherwise
executed in connection with any of the Obligations made in accordance with the
terms hereof; (iv) the addition, substitution or release of any entity or other
person primarily or secondarily liable for any Obligation; or (v) any other act
or omission which might in any manner or to any extent vary the risk of the
Parent or otherwise operate as a release or discharge of the Parent (other than
the indefeasible payment in full, in cash, of all of the Obligations), all of
which may be done without notice to the Parent.

          (d) Unenforceability of Obligations Against the Company.  If for any
              ---------------------------------------------------
reason the Company has no legal existence or is under no legal obligation to
discharge any of the Obligations, or if any of the Obligations have become
irrecoverable from the Company by reason of the Company's insolvency, bankruptcy
or reorganization or by other operation of law or for any other reason (other
than the indefeasible payment in full, in cash, of all of the Obligations), to
the extent permitted by law, this guaranty shall nevertheless be binding on the
Parent to the same extent as if the Parent at all times had been the principal
obligor on all such Obligations. In the event that acceleration of the time for
payment of any of the Obligations is stayed upon the insolvency, bankruptcy or
reorganization of the Company, or for any other reason, all such amounts
otherwise subject to acceleration under the terms of this Note or any other
agreement evidencing, securing or otherwise executed in connection with any
Obligation shall be immediately due and payable by the Parent.

                                      -6-
<PAGE>

          (e)  Subrogation; Subordination.
               --------------------------

               (i)   Postponement of Rights Against the Company. Until the final
                     ------------------------------------------
payment and performance in full in cash of all of the Obligations, the Parent
shall not exercise any rights against the Company arising as a result of payment
by the Parent hereunder, by way of subrogation, reimbursement, restitution,
contribution or otherwise, and will not prove any claim in competition with
Holder in respect of any payment hereunder in any bankruptcy, insolvency or
reorganization case or proceedings of any nature; the Parent will not claim any
setoff, recoupment or counterclaim against the Company in respect of any
liability of the Parent to the Company.

               (ii)  Subordination.  The payment of any amounts due with respect
                     -------------
to any indebtedness of the Company for money borrowed or credit received now or
hereafter owed to the Parent is hereby subordinated to the prior payment in full
in cash of all of the Obligations. The Parent agrees that, after the occurrence
of any default in the payment or performance of any of the Obligations, the
Parent will not demand, sue for or otherwise attempt to collect any such
indebtedness of the Company to such Parent until all of the Obligations shall
have been paid in full. If, notwithstanding the foregoing sentence, the Parent
shall collect, enforce or receive any amounts in respect of such indebtedness
while any Obligations are still outstanding, such amounts shall be collected,
enforced and received by the Parent as trustee for the Holder and be paid over
to Holder, on account of the Obligations without affecting in any manner the
liability of the Parent under the other provisions of this guaranty.

               (iii) Provisions Supplemental.  The provisions of this (S)4(e)
                     -----------------------
shall be supplemental to and not in derogation of any rights and remedies of
Holder under any separate subordination agreement which Holder may at any time
and from time to time enter into with the Parent.

          (f)  Setoff.  Upon the occurrence and during the continuation of an
               ------
Event of Default, Holder is hereby authorized at any time and from time to time,
without notice to the Parent (any such notice being expressly waived by the
Parent) and to the fullest extent permitted by law, to set off and apply any and
all sums credited by or due from Holder to the Parent against the obligations of
the Parent under this guaranty, whether or not Holder shall have made any demand
under this guaranty and although such obligations may be contingent or
unmatured.

          (g)  Further Assurances.  The Parent agrees that it will from time to
               ------------------
time, at the request of Holder, do all such things and execute all such
documents as Holder may reasonably consider necessary or desirable to give full
effect to this guaranty and to perfect and preserve the rights and powers of
Holder hereunder. The Parent acknowledges and confirms that it has established
its own adequate means of obtaining from the Company on a continuing basis all
information desired by it concerning the financial condition of the Company and
that it will look to the Company and not to Holder in order for it to keep
adequately informed of changes in any of the Company's financial condition.

          (h)  Termination; Reinstatement.  This guaranty shall terminate upon
               --------------------------
the final and indefeasible payment in full, in cash, of the Obligations.
Notwithstanding any termination of this guaranty upon the final and indefeasible
payment in full, in cash, of the Obligations, this guaranty shall continue to be
effective or be reinstated, if at any time any payment made or value received
with respect to any Obligation is rescinded or must otherwise be returned by

                                      -7-
<PAGE>

Holder upon the insolvency, bankruptcy or reorganization of the Company, or
otherwise, all as though such payment had not been made or value received.

          (i)  Successors and Assigns.  This guaranty shall be binding upon the
               ----------------------
Parent, its successors and assigns, and shall inure to the benefit of Holder and
its respective successors, transferees and assigns.  The Parent may not assign
any of its obligations hereunder.

     5.   Priority.  The indebtedness evidenced by this Note is subordinate to
          --------
the prior payment in full of the Senior Debt pursuant to the terms of the
Subordination Agreement.

     6.   Representations, Warranties and Covenants.  Each of Parent and the
          -----------------------------------------
Company represents and warrants to Holder as follows:

          (a)  Authorization.  It has the corporate power and authority to
               -------------
execute, deliver and perform this Note and to incur the Obligations, and it has
taken all necessary corporate action to authorize the execution, delivery and
performance of this Note.

          (b)  No Consents Required.  Except for any filings under applicable
               --------------------
federal or state securities laws, no consent, approval or authorization of, or
declaration or filing with, any federal, state or local governmental authority
and no consent of any other person, company, partnership or other organization
or entity is required in connection with its execution, delivery and performance
of this Note.

          (c)  No Conflict.  Its execution, delivery and performance of this
               -----------
Note and payment of the Obligations does not and will not conflict with, or
constitute a violation or breach of, constitute a default under (i) any material
contract, mortgage, lien, lease, agreement or other instrument to which it is a
party or which is binding upon it, (ii) any requirement of law or regulation
applicable to it or (iii) its certificate of incorporation or bylaws.

          (d)  Enforceability.  This Note has been duly executed and delivered
               --------------
by it and constitutes its legal, valid and binding obligations, enforceable
against it in accordance with its terms.

          (e)  Covenants.
               ---------

               (i)  From the time that (and for so long as) the Senior Debt
     shall be paid in full in cash, or the Senior Credit Agreement shall
     otherwise be terminated or no longer in full force and effect, each and
     every covenant contained in Sections 10-12 of the Senior Credit Agreement
     (as in effect as of the date of such payment or termination) shall be
     deemed incorporated in and a part of this Note as if they were set forth
     herein, with all necessary conforming modifications, and the Company and
     Parent shall comply with each and every such covenant.

               (ii) The Company and Parent shall cause the Rights Offering
     Closing to occur on or before June 30, 2001.

     7.   Miscellaneous.
          -------------

          (a)  This section headings contained in this Note are inserted for
convenience only and shall not affect, in any way, the meaning or
interpretations of this Note.

                                      -8-
<PAGE>

          (b)  This Note shall be governed by and construed in accordance with
the internal laws (and not the laws of conflicts) of the State of Illinois.

          (c)  To the maximum extent permitted by applicable law, the Company,
Parent and all endorsers and all persons liable or to become liable hereunder
hereby waive presentment, demand, protest, diligence of collection, notice of
protest, dishonor and nonpayment and all notices of every kind, and, the defense
of the statute of limitations.

          (d)  BY ACCEPTANCE OF THIS NOTE, HOLDER REPRESENTS THAT IT IS AN
ACCREDITED INVESTOR, WITHIN THE MEANING OF RULE 501 OF REGULATION D UNDER THE
ACT, AND THAT IT IS PURCHASING THIS NOTE FOR ITS OWN ACCOUNT FOR INVESTMENT, AND
NOT WITH A VIEW TO, OR FOR RESALE IN CONNECTION WITH, ANY PUBLIC DISTRIBUTION OF
SUCH NOTE.

          (e)  It is the intention of the parties to conform strictly to the
usury laws, whether state or federal, that are applicable to this Note. All
agreements between the Company and Holder, whether now existing or hereafter
arising and whether oral or written, are hereby expressly limited so that in no
contingency or event whatsoever, shall the amount paid or agreed to be paid to
Holder, or collected by Holder, for the use, forbearance or detention of the
money loaned or to be loaned hereunder or otherwise, or for the payment or
performance of any covenant or obligation contained herein or in any other
document evidencing, securing or pertaining to the indebtedness evidenced
hereby, exceed the maximum amount permissible under applicable federal or state
usury laws. If under any circumstances whatsoever fulfillment of any provision
hereof, at the time performance of such provision shall be due, shall involve
exceeding the limit of validity prescribed by law, then the obligation to be
fulfilled shall be reduced to the limit of such validity; and if under any
circumstances Holder shall ever receive an amount deemed interest by applicable
law, which would exceed the highest lawful rate, such amount that would be
excessive interest under applicable usury laws shall be applied to the reduction
of the principal amount owing hereunder and not to the payment of interest, or
if such excessive interest exceeds the unpaid balance of principal, the excess
shall be deemed to have been a payment made by mistake and shall be refunded to
the Company or to any other person making such payment on the Company's behalf.
All sums paid or agreed to be paid to the holder hereof for the use, forbearance
or detention of the indebtedness of the Company evidenced hereby outstanding
from time to time shall, to the extent permitted by applicable law, and to the
extent necessary to preclude exceeding the limit of validity prescribed by law,
be amortized, prorated, allocated and spread from the date of disbursement of
the proceeds of this Note until payment in full of the loan evidenced hereby so
that the actual rate of interest on account of such indebtedness is uniform
throughout the term hereof.

          (f)  Time is of the essence with respect to the performance of the
obligations of the Company and Parent under this Note.

          (g)  Any notice required or permitted to be given hereunder shall be
in writing, and shall be given in the manner set forth in the Senior Credit
Agreement and to the addresses set forth below.

                                      -9-
<PAGE>

          (h)  No modification, waiver, amendment, discharge or change of this
Note shall be valid unless the same is in writing and signed by the party
against which the enforcement of such modification, waiver, amendment, discharge
or change is sought.

          (i)  In the event any one or more of the provisions contained in this
Note should be held invalid, illegal or unenforceable in any respect, the
validity, legality and enforceability of the remaining provisions contained
herein or therein shall not in any way be affected or impaired thereby.

          (j)  This Note represents the agreement of the Company, Parent and
Holder with respect to the subject matter hereof, and there are no promises,
undertakings, representations or warranties by Holder relative to the subject
matter hereof not expressly set forth or referred to herein.

          (k)  This Note shall inure to the benefit of and shall be binding on
the parties hereto and their respective successors and assigns, provided that
neither the Company nor Parent may transfer its obligations under, or interest
in, this Note, or any portion hereof, without the prior written consent of
Holder.

          (l)  This Note is unsecured.

          (m)  The Company agrees to pay all costs and out-of-pocket expenses
(including, but not limited to, reasonable attorneys' fees) incurred by Holder
in connection with the negotiation, documentation and consummation of this Note,
but not in excess of $7,500 in the aggregate.

          (n)  Capitalized terms used but not defined herein shall have the
meanings ascribed thereto in the Senior Credit Agreement; provided that it is
hereby agreed that all references to the Senior Credit Agreement, including
defined terms, procedures, and particular terms and provisions, shall be
references to the Senior Credit Agreement, as amended from time to time;
provided further that if the Senior Debt shall be paid in full in cash, or the
Senior Credit Agreement shall otherwise be terminated or no longer in full force
and effect, such references to the Senior Credit Agreement shall be references
to the Senior Credit Agreement as in effect as of the date hereof.

          (o)  Each of the Company and Parent agrees that any suit for the
enforcement of this Note may be brought in the courts of the State of Illinois
or any federal court sitting therein and consents to the nonexclusive
jurisdiction of such court and to service of process in any such suit being made
upon the Company or Parent by mail at the address specified by reference in
Section 7(g).  Each of the Company and Parent hereby waives any objection that
it may now or hereafter have to the venue of any such suit or any such court or
that such suit was brought in an inconvenient court.

          (p)  EACH OF THE COMPANY AND PARENT HEREBY WAIVES ITS RIGHT TO A JURY
TRIAL WITH RESPECT TO ANY ACTION OR CLAIM ARISING OUT OF ANY DISPUTE IN
CONNECTION WITH THIS NOTE, ANY RIGHTS OR OBLIGATIONS HEREUNDER OR THE
PERFORMANCE OF ANY OF SUCH RIGHTS OR OBLIGATIONS.  Except as prohibited by law,
each of the Company and Parent hereby waives any right which it may have to
claim or recover in any litigation referred to in the preceding sentence any
special, exemplary, punitive or consequential damages or any damages other than,
or in addition to, actual damages.  Each of the Company and Parent (i) certifies
that neither Holder nor any

                                      -10-
<PAGE>

representative, agent or attorney of Holder has represented, expressly or
otherwise, that Holder would not, in the event of litigation, seek to enforce
the foregoing waivers, and (ii) acknowledges that, in making the loan evidenced
by this Note, Holder is relying upon, among other things, the waivers and
certifications contained in this Section 7(p).

          (q)  This Note may be executed (i) in counterparts, each of which
counterparts shall be an original, and all of which together shall constitute
one instrument, and (ii) by facsimile signature, and such facsimile signature
shall be deemed to be an original instrument.

          (r)  The Company shall pay, indemnify and hold Holder and its
officers, directors, members, employees, agents and affiliates (the "Indemnified
Parties") harmless from and against any and all liabilities, obligations,
losses, damages, penalties, actions, judgments, suits, costs, expenses or
disbursements of any kind or nature whatsoever (including reasonable attorneys'
fees and disbursements) which may be incurred by the Indemnified Parties or any
of them, including in connection with any claims (whether or not they result in
an investigative, administrative or judicial proceeding) that may at any time be
asserted against any Indemnified Party, as a result of the execution, delivery,
enforcement and performance of, or the transactions contemplated by, this Note,
provided, that the Company shall have no obligation hereunder to any Indemnified
Party with respect to indemnified liabilities arising from the gross negligence
or willful misconduct of such Indemnified Party.

          (s)  This Note amends and restates in its entirety, but shall not
constitute payment of amounts outstanding under, that certain Subordinated
Promissory Note and Guaranty dated November 21, 2000 (the "Original Note"), in
the principal amount of $2,000,000.00, executed by the Company and Parent made
payable to Holder.  Advances and loans made under the Original Note shall be
treated as if made under this Note.

                                      -11-
<PAGE>

          IN WITNESS WHEREOF, the Company and Parent have caused this Note to be
executed as of this 20/th/ day of February, 2001.

                         CHART HOUSE, INC., a Delaware corporation

                         By:  __________________________________________________
                         Name:__________________________________________________
                         Its: __________________________________________________

                         CHART HOUSE ENTERPRISES, INC., a Delaware corporation
                         (solely for purpose of Sections 4 and 6 above)

                         By:  __________________________________________________
                         Name:__________________________________________________
                         Its: __________________________________________________

Address for notices to the Company and Parent:

640 North LaSalle Street
Suite 295
Chicago, IL 60610
Fax No.: 312-202-1938
Attn: General Counsel

Address for notices to Holder:

EGI Fund (00) Investors, L.L.C.
c/o Equity Group Investments, L.L.C.
Two North Riverside Plaza
Suite 600
Chicago, IL 60606
Fax No.: 312-454-0610
Attn: General Counsel

                                      -12-

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