Document:

llpp_ex102.htm

EXHIBIT 10.2
 
June 13, 2016
 
CONFIDENTIAL
 
8198381 CANADA INC.
480 Fernand Poitras,
Terrebonne, Québec
Canada J6Y 1W1
 
LOOP INDUSTRIES, INC.
1999 Avenue of the Stars #2520
Los Angeles, CA 90067
 
Dear Sirs:
 
Proposed Acquisition of certain Assets and liabilities of 8198381 Canada Inc. (the "Transferor") by 9449507 Canada Inc. (the "Transferee") and subsequent transfer to LOOP
 
This letter of intent will serve as an expression of the Transferee's intent to acquire certain of the assets and liabilities of the transferorrelated to the business of depolymerizing waste plastics and converting into valuable chemicals (the "Business"), as a going concern, and the subsequent transfer to LOOP, on the basis substantially as outlined below (the "Proposed Transaction"). 
 
The following sets out the principal terms of the Proposed Transaction:
 
1. Proposed Transaction
 
Subject to the terms and conditions set out below and in the definitive agreement, certain of the assets, tangible and intangible, as well as certain of the liabilities of the Transferor used in the operation of the Business (the "Business Assets") will be transferred to the Transferee as part of a series of operations.
 
Subsequent to the transactions, the Business Assets will be transferred to LOOP.
 
	 
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2. Liabilities
 
The Transferee (and subsequently, LOOP) will not assume any liabilities of the Transferor other than those specifically identified by the Transferee, if any.
 
The Transferor shall remain responsible and indemnify the Transferee and LOOP for and in respect of all other liabilities, debts or obligations of the Business of every nature and kind. 
 
3. Definitive Agreement
 
The parties will enter into a definitive agreement containing terms, conditions and indemnities customary for transactions of this nature including, without limitation, the following:
 
		(a) 	Representations and Warranties – The definitive agreement will contain representations and warranties which are typical of transactions of this nature including as to the title to the assets of the Business and as to the assets, operations, financial condition and tax position of the Business, which will fully protect the Transferee and LOOP in respect of any undisclosed liabilities or contingencies associated with the past operations of the Business.

			
		(b) 	Indemnities – The definitive agreement will provide that the Transferor will indemnify the Transferee and LOOP for any breach of any covenant, any breach of any representation or warranty.

 
4. Closing
 
Closing of the Proposed Transaction is anticipated for as soon as possible following execution of this letter of intent.
 
5. Business in the Ordinary Course
 
From the date of this letter of intent to the completion of the Proposed Transaction or termination of negotiations, the Transferor shall conduct the Business in the usual and ordinary manner and use all reasonable efforts to maintain good relations with its employees, customers and suppliers.
 
6. Confidentiality
 
The parties shall treat as confidential, the existence and terms of this letter of intent including the fact that the parties are discussing a Proposed Transaction. All information provided to a party by the other or its representatives shall be kept in the strictest confidence and not disclosed to a third party or used by the party receiving such information save and except for the consideration and completion of the Proposed Transaction or except as required by a Court of competent authority or any applicable securities legislation. The foregoing restriction does not apply to any information which is or becomes generally available to the public, or which was known to such party prior to its receipt of information from the other party or which such party obtained from an independent third party who obtained the information lawfully and was under no obligation of confidentiality with respect to the information.
 
	 
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7. Costs 
 
Each of the parties will be responsible for and bear all of its own costs and expenses (including any broker's or finder's fees and the expenses of its representatives) incurred at any time in connection with negotiating, pursuing or completing the Proposed Transaction.
 
8. Status of this Letter of Intent
 
It is understood that this letter of intent is a binding statement of our intention to proceed as outlined above.
 
9. Entire Agreement 
 
This letter of intent constitutes the entire agreement between the parties, and supersede all prior agreements, understandings, representations and warranties, negotiations and discussions, whether oral or written, and course of conduct and dealing between the parties relating to the subject matter of this letter of intent. 
 
10. Governing Law
 
This letter of intent will be governed by and construed in accordance with the laws of the Province of Quebec and the federal laws of Canada applicable in the Province of Quebec.
 
Upon your execution of this letter of intent the Transferee will instruct its solicitors to commence preparation of the definitive agreement for review by the parties.
    	 
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Yours very truly,
 
	9449507 CANADA INC.

	
	By:
	/s/ Daniel Solomita
	 

 
Acknowledged and agreed to this 13th day of June 2016.
 
	8198381 CANADA INC.

	
	By:
	/s/ Daniel Solomita
	 

 
	LOOP INDUSTRIES, INC.

	
	By:
	/s/ Daniel Solomita
	 

 
 
4Exhibit

FIRST AMENDMENT TO FINANCING AGREEMENT

THIS FIRST AMENDMENT TO FINANCING AGREEMENT (this “Amendment”), is entered into as of June 10, 2016, by and among Angie’s List, Inc., a Delaware corporation (“Company”) and other entities that become borrowers from time to time party hereto (collectively with the Company, the “Borrowers” and, individually, a “Borrower”), AL BV Investment, Inc., a Delaware corporation (“AL BV”), AL Campus Kids, LLC, an Indiana limited liability company (“AL Campus”), AL Real Estate Holdings, LLC, an Indiana limited liability company (“AL RE”, and together with AL BV, AL Campus and each other Guarantor from time to time party hereto, the “Guarantors”, and collectively with the Borrower, the “Loan Parties”), TCW Asset Management Company, a California corporation (“TCW”), as administrative agent for the Lenders (in such capacity, together with its successors and assigns in such capacity, the “Administrative Agent”) and TCW, as collateral agent for the Secured Parties (in such capacity, together with its successors and assigns in such capacity, the “Collateral Agent”, and together with the Administrative Agent, collectively, the “Agents” and each an “Agent”), and the Required Lenders (as defined in the Financing Agreement) identified below.

WITNESSETH:

WHEREAS, Borrower, Guarantors, Lenders and Agents are parties to that certain Financing Agreement dated as of September 26, 2014 (as may be amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Financing Agreement”);

WHEREAS, Borrower have notified the Lenders and the Agents of its desire to amend certain terms and provisions of the Financing Agreement as set forth herein;

WHEREAS, the Agents and Lenders have agreed to such amendments subject to the terms and conditions hereof;

NOW, THEREFORE, in consideration of the foregoing and for other good and valid consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:

		
	1.
	Defined Terms.  Capitalized terms used but not defined herein shall have the respective meanings ascribed to such terms in the Financing Agreement.

		
	2.
	Amendments to Financing Agreement.  Upon satisfaction of the conditions to effectiveness set forth in Section 3 below, the Financing Agreement is hereby amended as follows:

		
	(a)
	Section 1.01 of the Financing Agreement is hereby amended by adding the following definitions in the correct alphabetical order as follows: 

 “Applicable Margin” means the following:
	
			
	Applicable Interest Rate
	Tier 1 Applicable Margin
	Tier 2 Applicable Margin

	LIBOR Rate
	7.25%
	6.75%

	Reference Rate
	6.25%
	5.75%

The Applicable Margin shall be based upon the most recent Consolidated EBITDA calculation delivered to each Agent and each Lender pursuant to Section 7.01(a)(iv)(B) concurrently with the delivery of the quarterly financial statements delivered pursuant to Section 7.01(a)(ii), and the Applicable Margin shall be re-determined quarterly and such redetermined Applicable Margin shall be effective on the one (1) Business Day following the date of delivery to each Agent and each Lender of the Company’s and its Subsidiaries’ most recent quarterly financial statements and related 

1

Authorized Officer certificate pursuant to Sections 7.01(a)(ii) and (iv); provided that, on and after the First Amendment Effective Date and at any subsequent time thereafter the Company delivers such quarterly financial statements and certificates showing the calculation of Consolidated EBITDA of the Company and its Subsidiaries is less than or equal to $30,000,000, the Applicable Margin, in each case of a Reference Rate Loan and LIBOR Rate Loan, shall be set at the spread corresponding to “Tier 1” in the table above pursuant to the terms set forth above; provided, however, that, on and after the delivery of such financial statements and Authorized Officer’s certificate attaching a schedule showing the calculation of Consolidated EBITDA of the Company and its Subsidiaries is greater than $30,000,000, then the Applicable Margin shall be set at the spread corresponding to “Tier 2” in the table above pursuant to the terms set forth above.

Notwithstanding the forgoing, if the Company fails to provide such financial statements and Authorized Officer’s certificate when such financial statements and Authorized Officer’s certificate are due pursuant to Sections 7.01(a)(ii) and (iv), as the case may be, the Applicable Margin shall be set at the spread corresponding to “Tier 1” in the table above as of the next Business Day following the date such financial statements and Authorized Officer’s certificate were required to be delivered until one (1) Business Day following the date on which such financial statements and Authorized Officer’s certificate are actually delivered the Administrative Agent (on which date (but not retroactively), without constituting a waiver of any Default or Event of Default occasioned by the failure to timely deliver such financial statements and certificate, the Applicable Margin shall be set at the spread based upon the calculations disclosed by such financial statements and certificates and as set forth above).

In the event the information regarding Consolidated EBITDA contained in any quarterly Authorized Officer’s certificate is shown to be inaccurate, and such inaccuracy, if corrected, would have led to the application of a higher Applicable Margin or a lower Applicable Margin for any period (an “Applicable Margin Period”) than the Applicable Margin actually applied for such Applicable Margin Period, then (i) Borrower shall immediately upon becoming aware thereof deliver to each Agent and each Lender a correct quarterly Authorized Officer’s certificate for such Applicable Margin Period,(ii) the Applicable Margin shall be re-determined as if the correct Applicable Margin (based upon the table above) had been applied applicable for such Applicable Margin Period, (iii) the Borrower shall promptly (but, in any event, within two (2) Business Days) deliver to each Agent and each Lender the full payment, if any, in respect of the accrued additional interest on the Loan as a result of such increased Applicable Margin for such Applicable Margin Period, and (iv) the Borrower shall immediately promptly (but, in any event, within ten (10) Business Days) be credited for the amount, if any, in respect of additional interest, if any, paid by Borrower as a result of such increased Applicable Margin for such Applicable Margin Period (and any Default or Event of Default consisting of failure to make payment of such additional interest shall be deemed cured thereby); provided that, any Default or Event of Default that may or could have been caused by such failure to deliver an accurate Authorized Officer’s certificate shall not be deemed waived pursuant to the forgoing unless otherwise separately waived in writing or cured pursuant to the terms hereof. For the avoidance of doubt, any increase in Applicable Margin shall not be deemed to be a waiver of any financial covenant violation or other default hereunder.

“First Amendment” means that certain First Amendment to Financing Agreement, dated as of the First Amendment Effective Date, among the Borrower, the Guarantors, the Lenders party thereto and the Agent.

“First Amendment Effective Date” means June 10, 2016.

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	(b)
	The definition of “Applicable Prepayment Premium” in Section 1.01 of the Financing Agreement is hereby amended and restated in its entirety as follows: 

“Applicable Prepayment Premium” means, on any date of determination, with respect to any prepayment made pursuant to (x) Section 2.05(b), (y) Sections 2.05(c)(ii), (c)(iii) and (c)(vi), and (z) the proceeds of any Extraordinary Event in connection with Section 2.05(c)(iv) or Net Cash Proceeds of any Casualty Event in connection with 2.05(c)(v) to the extent such proceeds are in excess of twenty percent (20%) of the aggregate outstanding principal amount of the Loans at such time of prepayment, in each case of the foregoing clauses (x), (y) and (z) including, without limitation, any prepayment made after either (x) an Event of Default has occurred and is continuing, or (y) the acceleration of the Term Loans for any reason, in each case, including, without limitation, as the result of the commencement of any Insolvency Proceeding, an amount equal to (a) during the period of time from and after the Effective Date up to and including the date that is the first anniversary of the First Amendment Effective Date, an amount equal to one percent (1.0%) multiplied by the principal amount of any optional prepayment of the Loans on such date or mandatory prepayment, as applicable, and (b) after the first anniversary of the First Amendment Effective Date, zero. 

		
	(c)
	Section 2.03(a) of the Financing Agreement is hereby amended by replacing “2016” where it is used therein and replacing such language with “2017”.

		
	(d)
	Section 2.04(a) of the Financing Agreement is hereby amended and restated in its entirety as follows:

		
	(a)
	Term Loans. Subject to the terms of this Agreement, at the option of the Administrative Borrower, each Loan or any portion thereof shall be either a Reference Rate Loan or a LIBOR Rate Loan. Each portion of a Loan that is a Reference Rate Loan shall bear interest on the principal amount thereof from time to time outstanding, from the date of the Loan until repaid, at a rate per annum equal to the Reference Rate plus the applicable Applicable Margin. Each portion of a Loan that is a LIBOR Rate Loan shall bear interest on the principal amount thereof from time to time outstanding, from the date of the Loan until repaid, at a rate per annum equal to the LIBOR Rate for the Interest Period in effect for such Loan (or such portion thereof) plus the applicable Applicable Margin.

		
	(e)
	The table set forth in Section 7.03(a) of the Financing Agreement is hereby amended and restated in its entirety as follows:

	
		
	Fiscal Period End
	Consolidated EBITDA

	1 fiscal quarter ending December 31, 2014
	$13,600,000

	2 consecutive fiscal quarters ending March 31, 2015
	$15,000,000

	3 consecutive fiscal quarters ending June 30, 2015
	$6,600,000

	4 consecutive fiscal quarters ending September 30, 2015
	$7,900,000

	4 consecutive fiscal quarters ending December 31, 2015
	$12,300,000

	4 consecutive fiscal quarters ending March 31, 2016
	$17,700,000

	4 consecutive fiscal quarters ending June 30, 2016
	$21,900,000

	4 consecutive fiscal quarters ending September 30, 2016
	$22,500,000

	4 consecutive fiscal quarters ending December 31, 2016
	$22,500,000

	4 consecutive fiscal quarters ending March 31, 2017
	$25,000,000

	4 consecutive fiscal quarters ending June 30, 2017
	$25,000,000

	4 consecutive fiscal quarters ending September 30, 2017
	$27,500,000

	4 consecutive fiscal quarters ending December 31, 2017 and
each period of 4 consecutive fiscal quarters ending each March
31, June 30, September 30 and December 31 thereafter
	$32,500,000

3

		
	(f)
	Section 7.03(b) of the Financing Agreement is hereby amended by deleting “$10,000,000” where it is used therein and replacing such language with “$30,000,000”.

		
	(g)
	Section 7.03(c) of the Financing Agreement is hereby amended and restated in its entirety as follows:

Membership Revenue. Commencing with the 4 consecutive fiscal quarter period ending December 31, 2014 and testing through and including the 4 consecutive fiscal quarter period ending March 31, 2016 (and, for the avoidance of doubt, not tested in any period thereafter), permit Membership Revenue of the Company and its Subsidiaries for any of the applicable fiscal period set forth below to be less than the amount set forth opposite such period:  
	
		
	Fiscal Period End
	Membership Revenue

	4 consecutive fiscal quarter ending December 31, 2014
	$54,600,000

	4 consecutive fiscal quarters ending March 31, 2015
	$54,100,000

	4 consecutive fiscal quarters ending June 30, 2015
	$53,500,000

	4 consecutive fiscal quarters ending September 30, 2015
	$53,200,000

	4 consecutive fiscal quarters ending December 31, 2015
	$53,000,000

	4 consecutive fiscal quarters ending March 31, 2016
	$52,700,000

	4 consecutive fiscal quarters ending June 30, 2016 and each
period of 4 consecutive fiscal quarters ending each September
30, December 31, March 31 and June 30 thereafter
	N/A

provided that, notwithstanding anything to the contrary herein, (A) for the fiscal quarter ended March 31, 2014, Membership Revenue shall be deemed to be $18,566,085; provided, further, that this Membership Revenue financial covenant shall not be tested in any applicable fiscal period so long as the EBITDA Total Leverage Ratio of the Company and its Subsidiaries for such period calculated on the applicable test date is less than 1.00:1.00.

		
	(h)
	Schedule 6.01(f) of the Financing Agreement is hereby amended and restated in its entirety with the information set forth on Schedule I hereto and making a part of such Schedule 6.01(f) of the Financing Agreement in all respects.

		
	(i)
	Schedule 6.01(ee) of the Financing Agreement is hereby amended and restated in its entirety with the information set forth on Schedule II hereto and making a part of such Schedule 6.01(ee) of the Financing Agreement in all respects.

		
	3.
	Conditions.  The effectiveness of this Amendment is subject to the following conditions:

		
	(a)
	the execution and delivery of this Amendment by the Borrower, Guarantors, Agents, and the Required Lenders;

		
	(b)
	after giving effect to this Amendment the representations and warranties set forth herein shall be true and correct and no Default or Event of Default shall exist and be continuing; and

		
	(c)
	the Borrower shall have paid all fees, costs and expenses of the Agents and Lenders in connection with this Amendment, including, without limitation, reasonable fees, costs and expenses of Agents’ and Lenders’ counsel.

4

		
	4.
	Representations and Warranties.  The Loan Parties hereby represent and warrant to each Lender as follows:  

		
	(a)
	each Loan Party is a corporation or limited liability company, as applicable, duly organized, validly existing and in good standing or in existence, as applicable, under the laws of the jurisdiction of its formation;

		
	(b)
	each Loan Party has the power and authority to execute, deliver and perform its obligations under this Amendment;

		
	(c)
	the execution, delivery and performance by the Loan Parties of this Amendment, has been duly authorized by all necessary action and does not and will not require any registration with, consent or approval of, notice to or action by, any Person (including any Governmental Authority);

		
	(d)
	this Amendment constitutes the legal, valid and binding obligation of the Loan Parties, enforceable against each Loan Party in accordance with its terms;

		
	(e)
	immediately before and after giving effect to this Amendment, no Default or Event of Default exists or shall exist immediately following the consummation of the changes contemplated hereby;

		
	(f)
	after giving effect to this Amendment and the supplements to the Financing Agreement set forth on Schedules I and II hereto, all representations and warranties contained in the Financing Agreement are true and correct as of the date hereof, except to the extent made as of a specific date, in which case each such representation and warranty are true and correct as of such date; and

		
	(g)
	by its signature below, each Loan Party agrees that it shall constitute an Event of Default if any representation or warranty made herein is untrue or incorrect in as of the date when made or deemed made.

		
	5.
	Agreement in Full Force and Effect As Amended.  Except as specifically amended hereby, the Financing Agreement and the other Loan Documents shall remain in full force and effect and are hereby ratified and confirmed as so amended. Except as expressly set forth herein, this Amendment shall not be deemed to be a waiver, amendment or modification of any provisions of the Financing Agreement or any other Loan Document or any right, power or remedy of the Lenders, nor constitute a waiver of any provision of the Financing Agreement, any other Loan Document, or any other document, instrument and/or agreement executed or delivered in connection therewith or of any Default or Event of Default under any of the foregoing, in each case, whether arising before or after the date hereof or as a result of performance hereunder or thereunder. This Amendment also shall not preclude the future exercise of any right, remedy, power, or privilege available to the Lenders whether under the Financing Agreement, the other Loan Documents, at law or otherwise and nothing contained herein shall constitute a course of conduct or dealing among the parties hereto. All references to the Financing Agreement shall be deemed to mean the Financing Agreement as modified hereby. This Amendment shall not constitute a novation or satisfaction and accord of the Financing Agreement or the other Loan Documents, but shall constitute an amendment thereof. The parties hereto agree to be bound by the terms and conditions of the Financing Agreement and the Loan Documents as amended by this Amendment, as though such terms and conditions were set forth herein. Each reference in the Financing Agreement to “this Amendment,” “hereunder,” “hereof,” “herein” or words of similar import shall mean and be a reference to the Financing Agreement as amended by this Amendment, and each reference herein or in any other Loan Document to the “Financing Agreement” shall mean and be a reference to the Financing Agreement as amended and modified by this Amendment.

		
	6.
	Counterparts.  This Amendment may be executed by one or more of the parties to this Amendment and any number of separate counterparts, each of which when so executed, shall be deemed an original and all said counterparts when taken together shall be deemed to constitute but one and the same instrument.

5

		
	7.
	Successors and Assigns.  This Amendment shall be binding upon and inure to the benefit of each Loan Party and its successors and assigns and Lenders and their successors and assigns.

		
	8.
	Further Assurance.  Each Loan Party hereby agrees from time to time, as and when requested by any Lender, to execute and deliver or cause to be executed and delivered, all such documents, instruments and agreements and to take or cause to be taken such further or other action as such Lender may reasonably deem necessary or desirable in order to carry out the intent and purposes of this Amendment, the Financing Agreement, and the Loan Documents. 

		
	9.
	GOVERNING LAW.  THIS AMENDMENT, AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE AND TO BE PERFORMED IN THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES (BUT INCLUDING AND GIVING EFFECT TO SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW).

		
	10.
	Severability.  Wherever possible, each provision of this Amendment shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Amendment shall be prohibited by or invalid under such law, such provision shall be ineffective to the extent of such prohibition or invalidity without invalidating the remainder of such provision or the remaining provisions of this Amendment.

		
	11.
	Reaffirmation.  Each Loan Party as debtor, grantor, pledgor, or in other any other similar capacity hereby ratifies and reaffirms all of its payment and performance obligations, contingent or otherwise, under each of the Loan Documents to which it is a party. Each Loan Party hereby consents to this Amendment and acknowledges that each of the Loan Documents remains in full force and effect and is hereby ratified and reaffirmed. Except as expressly set forth herein, the execution of this Amendment shall not operate as a waiver of any right, power or remedy of the Lenders, constitute a waiver of any provision of any of the Loan Documents or serve to effect a novation of the Obligations.

		
	12.
	Acknowledgment of Rights; Release of Claims.  Each Loan Party hereby acknowledges that: (a) it has no defenses, claims or set-offs to the enforcement by any Lender or Agent of Loan Parties’ liabilities, obligations and agreements on the date hereof; (b) to its knowledge, each Lender and Agent have fully performed all undertakings and obligations owed to it as of the date hereof; and (c) except to the limited extent expressly set forth in this Amendment, each Lender and Agent do not waive, diminish or limit any term or condition contained in the Financing Agreement or any of the other Loan Documents. Each Loan Party hereby remises, releases, acquits, satisfies and forever discharges the Lenders and Agents, their agents, employees, officers, directors, predecessors, attorneys and all others acting or purporting to act on behalf of or at the direction of the Lenders and Agents (“Releasees”), of and from any and all manner of actions, causes of action, suit, debts, accounts, covenants, contracts, controversies, agreements, variances, damages, judgments, claims and demands whatsoever, in law or in equity, which any of such parties ever had, now has or, to the extent arising from or in connection with any act, omission or state of facts taken or existing on or prior to the date hereof, may have after the date hereof against the Releasees, for, upon or by reason of any matter, cause or thing whatsoever through the date hereof. Without limiting the generality of the foregoing, each Loan Party waives and affirmatively agrees not to allege or otherwise pursue any defenses, affirmative defenses, counterclaims, claims, causes of action, setoffs or other rights they do, shall or may have as of the date hereof, including, but not limited to, the rights to contest: (a) the right of each Agent and each Lender to exercise its rights and remedies described in this Amendment; (b) any provision of this Amendment or the Loan Documents; or (c) any conduct of the Lenders or other Releasees relating to or arising out of the Financing Agreement or the other Loan Documents on or prior to the date hereof.

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	13.
	Miscellaneous.  This Amendment is a Loan Document.

[Remainder of Page Intentionally Left Blank; Signature Pages Follow]

7

IN WITNESS WHEREOF, each of the undersigned has executed this Amendment as of the date set forth above.

	
		
	BORROWER:

	 
	 

	ANGIE'S LIST, INC.,

	a Delaware corporation

	 
	 

	By:
	/s/ THOMAS R. FOX

	Name:
	Thomas R. Fox

	Title:
	Chief Financial Officer

	
		
	GUARANTORS:

	 
	 

	AL BV INVESTMENT, INC.,

	a Delaware corporation

	 
	 

	By:
	/s/ THOMAS R. FOX

	Name:
	Thomas R. Fox

	Title:
	Chief Financial Officer

	
		
	AL CAMPUS KIDS, LLC,

	an Indiana limited liability company

	 
	 

	By:
	/s/ CHUCK HUNDT

	Name:
	Chuck Hundt

	Title:
	President

	
		
	AL REAL ESTATE HOLDINGS, LLC,

	an Indiana limited liability company

	 
	 

	By:
	/s/ J. MARK HOWELL

	Name:
	J. Mark Howell

	Title:
	Manager

[Signature Page to First Amendment to Financing Agreement]

	
		
	ADMINISTRATIVE AGENT AND COLLATERAL AGENT:

	 
	 

	TCW ASSET MANAGEMENT COMPANY

	 
	 

	By:
	/s/ SUZANNE GROSSO

	Name:
	Suzanne Grosso

	Title:
	Managing Director

[Signature Page to First Amendment to Financing Agreement]

	
		
	REQUIRED LENDERS:

	 
	 

	TCW DIRECT LENDING STRATEGIC VENTURES LLC

	 
	 

	By:
	/s/ SUZANNE GROSSO

	Name:
	Suzanne Grosso

	Title:
	Managing Director

[Signature Page to First Amendment to Financing Agreement]

	
		
	KAYNE SENIOR CREDIT FUND II, L.P.

	 
	 

	By: Kayne Senior Credit II Manager, L.P., its Investment Manager

	 
	 

	By:
	/s/ DOUG GOODWILLIE

	Name:
	Doug Goodwillie

	Title:
	Managing Director

	
		
	KAYNE SENIOR CREDIT FUNDING II LLC

	 
	 

	By:
	/s/ DOUG GOODWILLIE

	Name:
	Doug Goodwillie

	Title:
	Vice President

	
		
	KAYNE SENIOR CREDIT II MINI-MASTER FUND, L.P.

	 
	 

	By:
	/s/ DOUG GOODWILLIE

	Name:
	Doug Goodwillie

	Title:
	Vice President

	
		
	SOUTHERN FARM BUREAU LIFE INSURANCE COMPANY

	 
	 

	By: Kayne Senior Credit II Manager, L.P., its Investment Manager

	 
	 

	By:
	/s/ DOUG GOODWILLIE

	Name:
	Doug Goodwillie

	Title:
	Managing Director

	
		
	KAYNE SENIOR CREDIT FUNDING II OFFSHORE LLC

	 
	 

	By:
	/s/ DOUG GOODWILLIE

	Name:
	Doug Goodwillie

	Title:
	Vice President

  

[Signature Page to First Amendment to Financing Agreement]

	
		
	BLUE CROSS OF CALIFORNIA

	 
	 

	By: Kayne Senior Credit II Manager, L.P., its Investment Manager

	 
	 

	By:
	/s/ DOUG GOODWILLIE

	Name:
	Doug Goodwillie

	Title:
	Managing Director

	
		
	THE KOCH COMPANIES PENSION INVESTMENT COMMITTEE, AS NAMED FIDUCIARY FOR THE KOCH COMPANIES DEFINED BENEFIT MASTER TRUST

	 
	 

	By: Kayne Anderson Capital Advisors, L.P., its Investment Manager

	 
	 

	By:
	/s/ MICHAEL O'NEIL

	Name:
	Michael O'Neil

	Title:
	Chief Compliance Officer

[Signature Page to First Amendment to Financing Agreement]

Schedule I

Schedule 6.01(f)
Litigation; Commercial Tort Claims

		
	1.
	The following litigation matters have been filed:

		
	a.
	Moore v. Angie's List, Inc., filed on March 11, 2015 in the U.S. District Court for the Eastern District of Pennsylvania.

		
	b.
	Zygelman v Angie’s List, Inc., filed on January 15, 2016 in the United States District Court for the Northern District of California.

		
	c.
	Glick v. Angie’s List, Inc., filed on February 1, 2016 the United States District Court for the District of New Jersey.

		
	d.
	Location Services IP v. Angie’s List, Inc. filed on April 8, 2016 in the United States District Court for the Eastern District of Texas.

		
	e.
	Crabtree v. Angie’s List, Inc., filed on April 19, 2016 in the United States District Court for the Southern District of Indiana.

		
	f.
	Williams v. Angie’s List, Inc., filed on April 19, 2016 in the United States District Court for the Southern District of Indiana.

		
	g.
	HomeAdvisor v. Angie’s List, Inc. filed on May 4, 2016, in the United States District Court for the District of Colorado.

		
	2.
	The following litigation matter has been threatened:

		
	a.
	Warner/Chappell Music, Inc. (“WB Music”) sent the Company letter alleging that the Company’s commercials were using a musical composition owned by WB Music.

Schedule II

Schedule 6.01(ee)
Collateral Locations

		
	1.
	5696 Rolling Bluff Lane, Indianapolis, IN 46221

		
	2.
	731 (Suite 200) and 650 Henry Street, Indianapolis, IN 46225

		
	3.
	111 West Jackson Blvd. Suite 1600, Chicago, IL 60604 USA

		
	4.
	See Schedule 6.01(o), as amended in January 2016 (adding 40. 1050 E. Washington, Indianapolis, IN 46202 and 41. 1122 E. Washington Indianapolis, IN 46202), as supplemented as follows:

		
	•
	Add 42. 114 Dickson Street, Indianapolis, IN 46202 (real property acquired on October 6, 2015)

		
	•
	Add 43. 118 Dickson Street, Indianapolis, IN 46202 (real property acquired on October 6, 2015)

		
	•
	Add 44. 122 Dickson Street, Indianapolis, IN 46202 (real property acquired on October 6, 2015)

		
	•
	Add 45. 126 Dickson Street, Indianapolis, IN 46202 (real property acquired on October 6, 2015)

		
	•
	Add 46. 1142 Southeastern Ave. , Indianapolis, IN 46202 (real property acquired on Dec. 29, 2014)

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00259-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00259-of-00352.parquet"}]]