Document:

Eighth Amendment to Financing Agreement

 Exhibit 10.1 
 EXECUTION COPY 
 EIGHTH AMENDMENT TO FINANCING AGREEMENT 
 THIS EIGHTH AMENDMENT TO FINANCING AGREEMENT (this “Amendment”), dated as of August 18, 2006 by and among EAGLE FAMILY FOODS HOLDINGS,
INC., a Delaware corporation (the “Parent”), EAGLE FAMILY FOODS, INC., a Delaware corporation (the “Borrower”), each subsidiary of the Parent listed as a “Guarantor” on the signature pages thereto
(together with the Parent, each a “Guarantor” and collectively, the “Guarantors”), the financial institutions from time to time party thereto (each a “Lender” and collectively, the
“Lenders”), FORTRESS CREDIT OPPORTUNITIES I LP, a Delaware limited partnership (“Fortress”), as collateral agent for the Lenders (in such capacity, the “Collateral Agent”), and WACHOVIA BANK,
NATIONAL ASSOCIATION formerly known as Congress Financial Corporation (Central) (“Wachovia”), as administrative agent for the Lenders (in such capacity, the “Administrative Agent” and together with the Collateral
Agent, each an “Agent” and collectively, the “Agents”). 
 WITNESSETH 
 WHEREAS, the Borrower, the Guarantors, the Lenders and the Agents are parties to a Financing Agreement, dated as of March 23, 2004 (as amended, modified
or supplemented from time to time, the “Financing Agreement”), pursuant to which the Lenders have extended credit to the Borrower consisting of a (a) Revolving A Credit Commitment in an aggregate principal amount not to exceed
$35,000,000 outstanding at any time, and (b) Revolving B Credit Commitment in an aggregate principal amount not to exceed $53,000,000 outstanding at any time (subject to certain temporary increases as set forth therein); and 
 WHEREAS, the Borrower has requested and the Lenders and Agents have agreed to amend the Financing Agreement to, among other things, (i) increase the
Revolving A Credit Commitment to $40,000,000 for the period August 15, 2006 through November 15, 2006, and (ii) to amend certain financial covenants as set forth herein. 
 NOW, THEREFORE, in consideration of the premises and of the mutual covenants, agreements and conditions hereinafter set forth, and for other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto hereby agree as follows: 
 1. Capitalized Terms. All capitalized terms used in this Amendment
and not otherwise defined shall have their respective meanings set forth in the Financing Agreement. 
 2. Amendments to Financing
Agreement. 
 (a) Definitions. Section 1.01 of the Financing Agreement is hereby amended by inserting the following new definition
in its proper alphabetical order: 
 “ ‘Specified Amount’ means, from the period August 15, 2006 through November 15,
2006, $40,000,000 and during all other times, $35,000,000.” 

 (b) Definitions. Section 1.01 of the Financing Agreement is hereby amended by amending the
definition of the term “Borrowing Base” by deleting the reference therein to “$35,000,000” and replacing it with “the Specified Amount”. 
 (c) Financial Covenants. Clauses (a), (b) and (c) of Section 7.03 are hereby amended by deleting the ratios for the period August, 2006 through December, 2006 only and replacing them with the following:

 (a) in the case of the Senior Leverage Ratio, 
  

			
	 Fiscal Month End
	  	Senior Leverage Ratio
	 August 2006
	  	7.08:1:00
	 September 2006
	  	7.06:1:00
	 October 2006
	  	6.06:1:00
	 November 2006
	  	4.37:1:00
	 December 2006
	  	2.47:1:00

 (b) in the case of the Fixed Charge Coverage Ratio: 
  

			
	 Fiscal Month End
	  	Fixed Charge Coverage Ratio
	 August 2006
	  	0.53:1:00
	 September 2006
	  	0.56:1:00
	 October 2006
	  	0.59:1:00
	 November 2006
	  	0.66:1:00
	 December 2006
	  	0.76:1:00

 (c) in the case of Consolidated Trailing EBITDA: 
  

				
	 Fiscal Month End
	  	Consolidated EBITDA
	 August 2006
	  	$	13,829,000
	 September 2006
	  	$	14,547,000
	 October 2006
	  	$	15,477,000
	 November 2006
	  	$	17,249,000
	 December 2006
	  	$	19,759,000

 (d) Lender’s Commitment Schedule. Schedule 1.01(A) of the Financing Agreement is
hereby amended in its entirety to read as set forth on Annex I hereto. 
 3. Conditions to Effectiveness. This Amendment shall
become effective on the later of (i) the date hereof and (ii) satisfaction in full, in a manner satisfactory to the Collateral Agent, of the following conditions precedent (other than the conditions set forth in clause (b)) (such date, the
“Amendment Effective Date”): 
  

 2 

 (a) Delivery of Documents. The Collateral Agent shall have received on or before the Amendment
Effective Date, (i) counterparts to this Amendment signed by each of the Loan Parties, the Lenders and the Agents, and, unless indicated otherwise, dated the Amendment Effective Date in form and substance satisfactory to the Collateral Agent, and
(ii) such other agreements, instruments, approvals, opinions and other documents as any Agent may reasonably request from the Loan Parties. 
 (b) Representations and Warranties. The representations and warranties contained in Article VI of the Financing Agreement and in each other Loan Document, certificate or other writing delivered on or on behalf of any Loan Party to
any Agent or any Lender pursuant to the Financing Agreement or any other Loan Document on or prior to the Amendment Effective Date are true and correct in all material respects on and as of such date as though made on and as of such date (except
that any representation and warranty expressly made as of a specific date shall be true and correct only as of such specific date), and no Default or Event of Default shall have occurred, assuming effectiveness of this Amendment, and be continuing
on the Amendment Effective Date or would result from this Amendment becoming effective in accordance with its terms. 
 (c) Legal
Matters. All legal matters incident to this Amendment shall be satisfactory to the Collateral Agent and its counsel. 
 (d) Payment
of Expenses. The Borrower will pay on demand all reasonable fees, costs and expenses of the Collateral Agent in connection with the preparation, execution and delivery of this Amendment and all documents incidental hereto, including, without
limitation, the reasonable fees, disbursements and other charges of counsel to the Collateral Agent. 
 (e) Amendment Fee. (i) The
Borrower shall have paid to the Administrative Agent, for the benefit of the Revolving A Lenders, an amendment fee equal to $6,250, in immediately available funds, which shall be deemed fully earned on the Amendment Effective Date and which may, at
the Administrative Agent’s discretion, be paid by the Administrative Agent charging such fee to the Borrowers’ Loan Account. 
 (ii) The Borrower shall have paid to the Administrative Agent, for the benefit of the Revolving B Lenders, an amendment fee equal to $39,375, in immediately available funds, which shall be deemed fully earned on the Amendment Effective Date
and which may, at the Administrative Agent’s discretion, be paid by the Administrative Agent charging such fee to the Borrowers’ Loan Account 
 4. Representations and Warranties. Each Loan Party that is a party to the Financing Agreement hereby represents and warrants to the Agents and the Lenders as follows: 
 (a) Representations and Warranties; No Event of Default. The representations and warranties herein, in Article VI of the Financing Agreement and
in each other Loan Document, certificate or other writing delivered on or on behalf of any Loan Party to any Agent or any Lender pursuant to the Financing Agreement or any other Loan Document on or prior to the Amendment Effective Date are true and
correct in all material respects on and as 
  

 3 

 of such date as though made on and as of such date (except that any representation and warranty made as of a specific
date shall be true and correct only as of such specific date), and no Default or Event of Default has occurred and is continuing as of the Amendment Effective Date or would result from this Amendment becoming effective in accordance with its terms.

 (b) Organization, Good Standing, Etc. Each Loan Party (i) is a corporation, limited liability company or limited partnership duly
organized, validly existing and in good standing under the laws of the state or jurisdiction of its organization, (ii) has all requisite power and authority to conduct its business as now conducted and as presently contemplated and, in the case of
the Borrower, to make the borrowings under the Financing Agreement, as amended hereby, and to execute and deliver this Amendment, and to consummate the transactions contemplated hereby, and (iii) is duly qualified to do business and is in good
standing in each jurisdiction in which the character of the properties owned or leased by it or in which the transaction of its business makes such qualification necessary, other than in such jurisdictions where the failure to be so qualified and in
good standing could not reasonably be expected to have a Material Adverse Effect. 
 (c) Authorization, Etc. The execution, delivery
and performance by each Loan Party of this Amendment, the Financing Agreement, as amended hereby and each Loan Document to which it is or will be a party, (i) have been duly authorized by all necessary action on the part of each Loan Party that is a
party thereto, (ii) do not and will not contravene its charter or by-laws, its limited liability company or operating agreement or its certificate of partnership or partnership agreement, as applicable, or any applicable law or any other Loan
Document, any Material Contract or any other contractual restriction binding on or otherwise affecting it or any of its properties, (iii) do not and will not result in or require the creation of any Lien (other than pursuant to any Loan Document)
upon or with respect to any of its properties, and (iv) do not and will not result in any default, noncompliance, suspension, revocation, impairment, forfeiture or nonrenewal of any permit, license, authorization or approval applicable to its
operation or any of its properties, which, in the case of this clause (iv), could reasonably be expected to have a Material Adverse Effect. 
 (d) Governmental Approvals. No authorization or approval or other action by, and no notice to or filing with, any Governmental Authority is required in connection with the due execution, delivery and performance by any Loan Party of
this Amendment, the Financing Agreement, as amended hereby or any Loan Document to which it is or will be a party except for such of the foregoing that will have been made or obtained on or before the Amendment Effective Date and filings necessary
to perfect security interests under the Loan Documents. 
 (e) Enforceability of Loan Documents. This Amendment, the Financing
Agreement, as amended hereby and each other Loan Document to which any Loan Party is or will be a party, when delivered hereunder, will be, a legal, valid and binding obligation of such Person, enforceable against such Person in accordance with its
terms, except as may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting creditors’ rights generally or by general equitable principles relating to enforceability. 
  

 4 

 5. Continued Effectiveness of Financing Agreement. Each Loan Party hereby (i) confirms and agrees
that each Loan Document to which it is a party is, and shall continue to be, in full force and effect and is hereby ratified and confirmed in all respects except that on and after the Amendment Effective Date all references in any such Loan Document
to “the Financing Agreement”, “thereto”, “thereof”, “thereunder” or words of like import referring to the Financing Agreement shall mean the Financing Agreement as amended by this Amendment, and (ii) confirms
and agrees that to the extent that any such Loan Document purports to assign or pledge to the Collateral Agent, or to grant to the Collateral Agent, a Lien on any collateral as security for the Obligations of the Borrower from time to time existing
in respect of the Financing Agreement and the Loan Documents, such pledge, assignment and/or grant of a Lien is hereby ratified and confirmed in all respects. 
 6. Miscellaneous. 
 (a) This Amendment may be executed in any number of counterparts and by different
parties hereto in separate counterparts, each of which shall be deemed to be an original, but all of which taken together shall constitute one and the same agreement. Delivery of an executed counterpart of this Amendment by facsimile or electronic
mail shall be equally effective as delivery of an original executed counterpart of this Amendment. 
 (b) Section and paragraph headings
herein are included for convenience of reference only and shall not constitute a part of this Amendment for any other purpose. 
 (c) This
Amendment shall be governed by, and construed in accordance with, the laws of the State of New York. 
 (d) Each Loan Party hereby
acknowledges and agrees that this Amendment constitutes a “Loan Document” under the Financing Agreement. Accordingly, it shall be an Event of Default under the Financing Agreement if (i) any representation or warranty made by a Loan Party
under or in connection with this Amendment shall have been untrue, false or misleading in any material respect when made, or (ii) a Loan Party shall fail to perform or observe any term, covenant or agreement contained in this Amendment. 

(e) This Amendment is not, and shall not be deemed to be, a waiver of, or a consent to any Event of Default, event with which the giving of notice or
lapse of time or both may result in an Event of Default, or other noncompliance now existing or hereafter arising under the Financing Agreement and the other Loan Documents. 
 7. The Borrower will pay on demand all reasonable out-of-pocket costs and expenses of the Collateral Agent and the Lenders in connection with the
preparation, execution and delivery of this Amendment, including, without limitation, the reasonable fees, disbursements and other charges of legal counsel to the Collateral Agent. 
 8. THE LOAN PARTIES, THE AGENTS AND THE LENDERS EACH HEREBY IRREVOCABLY WAIVE ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM
(WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THIS AMENDMENT OR THE ACTIONS OF THE AGENTS OR THE LENDERS IN THE NEGOTIATION, ADMINISTRATION, PERFORMANCE OR ENFORCEMENT HEREOF. 
 [Remainder of this page intentionally left blank] 
  

 5 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their respective
officers thereunto duly authorized, as of the date first above written. 
  

			
	BORROWER:
	
	EAGLE FAMILY FOODS, INC.
		
	By:	 	 /s/ Michael P. Conti

	Name:	 	Michael P. Conti
	Title:	 	VP Finance
	
	GUARANTORS:
	
	EAGLE FAMILY FOODS HOLDINGS, INC.
		
	By:	 	 /s/ Michael P. Conti

	Name:	 	Michael P. Conti
	Title:	 	VP Finance
	
	MILNOT COMPANY
		
	By:	 	 /s/ Michael P. Conti

	Name:	 	Michael P. Conti
	Title:	 	VP Finance

  

 - i - 

			
	COLLATERAL AGENT AND LENDER:
	
	FORTRESS CREDIT OPPORTUNITIES I LP
		
	By:	 	 Fortress Credit Opportunities I GP LLC,
 its general
partner

		
	By:	 	 /s/ Constantine Dakolias

	Name:	 	Constantine Dakolias
	Title:	 	Chief Credit Officer
	
	FORTRESS CREDIT FUNDING I LP
		
	By:	 	 Fortress Credit Funding I GP LLC,
 its general
partner

		
	By:	 	 /s/ Constantine Dakolias

	Name:	 	Constantine Dakolias
	Title:	 	Chief Credit Officer
	
	ADMINISTRATIVE AGENT AND LENDER:
	
	 WACHOVIA BANK, NATIONAL ASSOCIATION formerly known as Congress Financial Corporation (Central)

		
	By:	 	 /s/ M. Galovic Jr.

	Name:	 	M. Galovic Jr.
	Title:	 	VP

  

 - ii - 

			
	LENDERS:
	
	ABLECO FINANCE LLC, on behalf
of itself and its affiliate assigns
		
	By:	 	 /s/ Dan Wolf

	Name:	 	Dan Wolf
	Title:	 	SVP

  

 - iii - 

			
	 OAK HILL SECURITIES FUND, L.P.

		
	By:	 	 Oak Hill Securities GenPar, L.P.
 its General
Partner

		
	By:	 	 Oak Hill Securities MGP, Inc.,
 its General
Partner

		
	By:	 	 /s/ S. Krase

	Name:	 	S. Krase
	Title:	 	Vice President
	
	OAK HILL SECURITIES FUND II, L.P.
		
	By:	 	 Oak Hill Securities GenPar II, L.P.
 its General
Partner

		
	By:	 	 Oak Hill Securities MGP II, Inc.,
 its General
Partner

		
	By:	 	 /s/ S. Krase

	Name:	 	S. Krase
	Title:	 	Vice President
	
	OAK HILL CREDIT ALPHA FUND, LP
		
	By:	 	 Oak Hill Credit Alpha GenPar, L.P.,
 Its General
Partner

		
	By:	 	 Oak Hill Credit Alpha MGP, LLC,
 Its General
Partner

		
	By:	 	 /s/ S. Krase

	Name:	 	S. Krase
	Title:	 	Vice President
	
	 OAK HILL CREDIT ALPHA FUND
 (OFFSHORE),
LTD.

		
	By:	 	 /s/ S. Krase

	Name:	 	S. Krase
	Title:	 	Vice President

  

 - iv - 

			
	 OAK HILL CREDIT ALPHA FINANCE I (OFFSHORE), LTD.

		
	By:	 	 /s/ S. Krase

	Name:	 	S. Krase
	Title:	 	Vice President
	
	 OAK HILL CREDIT ALPHA FINANCE I, LLC

		
	By:	 	 /s/ S. Krase

	Name:	 	S. Krase
	Title:	 	Vice President
	
	 OAK HILL CREDIT OPPORTUNITIES FINANCING, LTD.

		
	By:	 	 /s/ S. Krase

	Name:	 	S. Krase
	Title:	 	Vice President

  

 - v - 

 ANNEX I 
 SCHEDULE 1.01(A) – LENDERS AND LENDERS’ COMMITMENTS 
 Revolving A Credit Commitments

  

								
	 Lender
	  	 Revolving A Credit
 Commitment
	  	 Percentage of
 Revolving A Credit
 Commitment
	 
	  	 Prior to
 August 15,
 2006 and
 after
 November 15,
 2006
	  	 August 15,
 2006 -
 November 15,
2006
	  
	 Wachovia Bank, National Association formerly known as Congress Financial Corporation (Central)
	  	$35,000,000	  	$40,000,000	  	100	%
		  	 	  	 	  	 	 
	Total	  	$35,000,000	  	$40,000,000	  	100	%
		  	 	  	 	  	 	 

 Revolving B Credit Commitments 
  

										
	 Lender
	  	Revolving B Credit Commitment	  	Percentage
of Revolving
B Credit
Commitment	 
	  	January 1, 2006 –
December 31,
2006	  	January 1, 2007 –
Final Maturity
Date	  
	 Fortress Credit Opportunities I LP (together with its affiliate assigns)
	  	$	25,772,727	  	$	21,681,817.80	  	40.9091	%
	 Ableco Finance LLC (together with its affiliate assigns)
	  	$	25,772,727	  	$	21,681,817.80	  	40.9091	%
	 Oak Hill Securities Fund, L.P.
	  	$	1,339,204.18	  	$	1,126,632.08	  	2.1257	%
	 Oak Hill Securities Fund II, L.P.
	  	$	3,116,321.34	  	$	2,621,667.14	  	4.9465	%
	 Oak Hill Credit Alpha Fund
	  	$	423,818.18	  	$	356,545.45	  	0.6727	%
	 Oak Hill Credit Alpha Fund (Offshore), Ltd.
	  	$	721,636.36	  	$	607,090.90	  	1.1455	%
	 Oak Hill Credit Opportunities Financing, Ltd.
	  	$	2,386,520.00	  	$	2,007,707.29	  	3.7881	%
	 Oak Hill Credit Alpha Finance I, LLC
	  	$	921,862.00	  	$	775,534.69	  	1.4633	%
	 Oak Hill Credit Alpha Finance I (Offshore), Ltd.
	  	 	2,545,184.37	  	$	2,141,186.84	  	4.0400	%
		  	 	 	  	 	 	  	 	 
	 TOTAL
	  	$	63,000,000	  	$	53,000,000	  	100	%Amended and Restated Wholesale Security Agreement

 Exhibit 10.2 
 

 
 Textron Financial Corporation, Subsidiary of Textron Inc. 
 AMENDED AND RESTATED WHOLESALE SECURITY AGREEMENT 
 This Amended and Restated
Wholesale Security Agreement (this “Agreement”) is entered into, as of August 17, 2006, by All Homes Corp., a Delaware corporation (“Debtor”) and Textron Financial Corporation, a Delaware corporation (“Secured
Party”). For purposes of this Agreement, any party which controls, is controlled by, or is under common control with Debtor or Secured Party, shall be deemed an affiliate of Debtor or Secured Party, as appropriate. This Agreement amends and
restates in its entirety that certain Wholesale Security Agreement dated as of March 22, 2002, as amended to date, by Debtor and Secured Party (the “Existing Agreement”). Debtor desires to amend and restate the Existing Agreement as
set forth in this Agreement to reflect and confirm, and this Agreement does hereby so amend and restate the Existing Agreement to reflect and confirm, that all of the loans outstanding under the Existing Agreement are hereby consolidated as loans
outstanding hereunder and all principal, interest, fees and other amounts outstanding under the Existing Agreement shall continue to be outstanding hereunder and shall be payable in accordance with the terms and conditions hereof. Debtor warrants
and confirms to Secured Party that the liens and security interest in favor of Secured Party in and to the “Collateral” as described under the Existing Agreement are perfected and are subject to no other liens and/or security interests
and, immediately after their entering into this Agreement, the liens and security interest in favor of Secured Party in and to the Collateral (as defined herein) under this Agreement are perfected and are subject to no other liens and/or security
interests. Debtor further ratifies and confirms each Finance Plan and other loan documentation with or in favor of Secured Party outstanding as of the date hereof. This Agreement shall not constitute a satisfaction or novation of any obligations
owed by Debtor to Secured Party. 
  

	1.	Grant of Security Interest; Description of Collateral. 

 Debtor grants to Secured Party and its affiliates a security interest in the following property (collectively, the “Collateral”): 
 See Attached Exhibit A 
  

	2.	Promise to Pay. 

 Debtor promises to pay to Secured
Party the original invoice cost (“Invoice Cost”) of each item of Collateral financed or refinanced for Debtor which includes all related construction and set-up costs advanced by Secured Party pursuant to terms letters, finance plans or
otherwise (in all cases, a “Finance Plan”), together with interest and charges on the Invoice Cost as specified in the applicable Finance Plan and this Agreement (collectively, the “Total Debt”). All payments hereunder and under
each Finance Plan shall be made payable to Secured Party and delivered to the address specified by Secured Party from time to time. Each payment received from Debtor by Secured Party shall be applied: first, to the portion of the Total Debt
attributable to items of Collateral which have been disposed of by Debtor, in the order in which such items of Collateral were invoiced to Debtor(the “Order of Invoicing”); second, to the portion of the Total Debt then due and owing
attributable to other items of Collateral in their Order of Invoicing; and, third, the excess, if any, shall be held by Secured Party as security for the payment of all other obligations of Debtor and/or its affiliates secured by the
Collateral. With respect to any particular item of Collateral, payments received by Secured Party from Debtor which are allocable thereto shall be applied: first, to accrued and unpaid late charges and interest owing hereunder and under any
applicable Finance Plan with respect to such item of Collateral; and, second, to the then outstanding Invoice Cost of such item of Collateral. 
  

	3.	Obligations Secured by the Collateral. 

 Each item
of Collateral shall secure the payment and performance by Debtor and/or its affiliates of all present and future indebtedness and obligations of Debtor and/or its affiliates, of every kind and nature whatsoever, owing to Secured Party and/or its
affiliates. Debtor acknowledges that Secured Party shall be entitled to a purchase money security interest in the items of Collateral financed by Secured Party for Debtor and agrees that the extent of Secured Party’s purchase money priority in
any such item of Collateral shall be determined, at any time, by reference to the unpaid Total Debt attributable to such item of Collateral. 
  

	4.	Collateral to Remain Personal Property; Location of Collateral. 

 Debtor agrees that the Collateral shall at all times remain personal property, shall not become affixed to or form a part of any real estate, and shall be located at Debtor’s place(s) of business as Secured Party
may approve in writing from time to time. Debtor shall not remove any of the Collateral from such location(s) (including moving any of the Collateral between or among such locations) or change its principal place of business without the prior
written consent of Secured Party. 
  

	5.	Disclaimer of Warranties; Unconditional Nature of Obligations. 

 DEBTOR HEREBY ACKNOWLEDGES AND AGREES THAT: (a) SECURED PARTY IS NOT THE MANUFACTURER OR THE SELLER OF THE COLLATERAL; AND (b) SECURED PARTY HAS NOT MADE ANY WARRANTY OR REPRESENTATION WITH RESPECT TO THE
COLLATERAL OF ANY NATURE OR KIND WHATSOEVER, EITHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, THE MERCHANTABILITY OF THE COLLATERAL, ITS FITNESS FOR A PARTICULAR PURPOSE, ITS COMPLIANCE WITH APPLICABLE LAWS AND REGULATIONS OR ITS
NON-INFRINGEMENT OF THE RIGHTS OF OTHERS. Debtor agrees that it shall give notice to Secured Party of any defect or non-conformity in any shipment of the Collateral financed by Secured Party, or any claim of a right to reject or revoke
acceptance of such Collateral for any reason, no later than five (5) days after delivery of such Collateral. NOTWITHSTANDING SUCH NOTICE, DEBTOR AGREES THAT ITS OBLIGATIONS TO SECURED PARTY WITH RESPECT TO SUCH COLLATERAL SHALL BE ABSOLUTE
AND UNCONDITIONAL AT ALL TIMES AFTER SECURED PARTY HAS ADVANCED OR COMMITTED TO ADVANCE ALL OR ANY PART OF THE INVOICE COST OF SUCH COLLATERAL TO THE SELLER THEREOF. 
  

	6.	Debtor’s Representations, Warranties and Agreements. 

 Debtor represents and warrants to Secured Party that: Debtor lawfully possesses and owns each item of Collateral financed or refinanced by Secured Party for Debtor; except for the security interest granted hereby, the Collateral is free
from, and will remain free from, all liens, claims, security interests or other encumbrances; no financing statement covering the Collateral or its proceeds is on file in favor of any party other than Secured Party; all information supplied and
statements made by Debtor in any financial or accounting statement or application for credit delivered to Secured Party at any time is, or shall be, true, correct, complete and genuine when delivered and there has been no material adverse change in
the Debtor’s credit worthiness, financial position or in the information provided by Debtor to Secured Party in the credit application or otherwise from 
  

 Page 1 of 6 

 the date of submission of such information through the date of Debtor’s signing of this Agreement.
Debtor agrees: to defend, at Debtor’s own expense, any action, proceeding or claim affecting the Collateral; to pay attorneys’ fees and all other expenses incurred by Secured Party in enforcing its rights after Debtor’s default
hereunder; to pay promptly all taxes, assessments, license fees and other public or private charges when levied or assessed against the Collateral, this Agreement, any Finance Plan or payments to be made in connection therewith (such obligation
shall survive the termination of this Agreement); that if a certificate of title is required by law with respect to any item of Collateral, Debtor shall obtain such certificate and shall note the security interest of Secured Party thereon and, in
any event, shall do everything necessary or expedient to preserve or perfect the security interest of Secured Party therein; that Debtor will not misuse, fail to keep in good repair, secrete or, except as herein expressly permitted, rent, lend,
encumber or otherwise transfer any of the Collateral, or use the Collateral for any purpose other than for display or demonstration on Debtor’s premises without the prior written consent of Secured Party; and that Secured Party may enter upon
Debtor’s premises at any reasonable time to inspect the Collateral and Debtor’s books and records pertaining to the Collateral with the full cooperation and assistance of Debtor. 
  

	6.1	Covenants. 

 Definitions. As used in this
Agreement, the following terms shall have the following respective meanings: 
 “Debt Service” means at any date of
determination, the sum of all mandatory payments of principal and interest due during the 12 months from the date of determination, excluding any balloon maturities. For purposes of determining Debt Service, principal and interest payments on the
loans under this Agreement shall be excluded. 
 “Free Cash Flow” means Funds From Operations plus non-cash expenses
recognized in conjunction with equity-based compensation plus Interest Expense. 
 Debtor further agrees that Debtor receives good and
valuable benefit and consideration from its relationship with American Land Lease, Inc., and as such Debtor agrees that the failure of American Land Lease, Inc., to maintain the following financial covenants as of the last day of each fiscal
quarter, based on the publicly released consolidated financial statements of American Land Lease, Inc., may, in Secured Party’s sole discretion, cause an immediate suspension of any additional financing under this Agreement: 
 TNW and Ratio to Debt. Debtor covenants and agrees with Secured Party that American Land Lease, Inc: (i) shall not permit its tangible net
worth (“TNW”) to be less than Ninety Million Dollars ($90,000,000.00); and (ii) shall not permit its total debt to TNW ratio to exceed 2.0:1. The amounts and ratio referred to in the preceding sentence shall be calculated in
accordance with generally accepted accounting principles. Debtor shall provide to TFC such financial information and with such frequency as TFC may request from time to time, and TFC’s calculations of the foregoing amounts and ratios shall be
conclusive absent manifest error. 
 Debt Service Coverage Ratio. Debtor covenants, warrants and agrees with Secured Party that
American Land Lease, Inc., shall at all times maintain a Debt Service Coverage Ratio of not less than 1.25 to 1.0 on the aggregate of all its debt. Debt Service Coverage Ratio will be calculated based upon dividing Free Cash Flow by Debt Service for
the applicable measurement date. 
  

	7.	Disposition of Collateral by Debtor; Release of Lien. 

 Debtor is a merchant engaged in the business of selling the Collateral and other personal property of a kind similar to the Collateral. Both Debtor and Secured Party intend for Debtor to sell the Collateral, but only in the ordinary course
of its business as Debtor normally sells such Collateral. Therefore, Debtor may sell any item of Collateral provided that: (a) Debtor is not in default hereunder, (b) the price obtained for such item of Collateral is not less than
the unpaid Total Debt attributable thereto, and (c) Debtor holds all of the proceeds of any such sale in trust for, and promptly remits the unpaid Invoice Cost of such item of Collateral to, Secured Party. Debtor acknowledges that Secured Party
may extend financial accommodations, in an amount equal to all or a portion of the Debtor’s sales price, to the purchaser or lessee of an item of Collateral from Debtor. In such a case, the unpaid Invoice Cost of such item of Collateral and the
amount to be financed by Secured Party may be offset against one another to determine the amount payable by or to Debtor. 
  

	8.	Insurance and Risk of Loss. 

 At all times during
the term of this Agreement, Debtor shall bear the entire risk of loss or destruction of, or damage to, the Collateral. Debtor will procure and continuously maintain “all risk” property insurance covering each item of Collateral for the
full replacement value thereof, plus such other insurance as Secured Party may specify from time to time. Each policy of insurance shall contain a standard Lender’s Loss Payable Endorsement in favor of Secured Party, providing for, among other
things, thirty (30) days prior written notice to Secured Party of any cancellation, non-renewal or modification of such coverage. Secured Party’s acceptance of policies in lesser amounts in one instance shall not be a waiver of
Debtor’s obligations hereunder in any other instances. In the event of Debtor’s failure to secure and maintain insurance as herein required, Secured Party may to protect and insure the Collateral, at its sole option, secure such insurance
on behalf of Debtor and Debtor hereby promises to pay to Secured Party on demand any amounts expended by Secured Party in securing such insurance as part of the obligations payment of which is secured by the Collateral pursuant to this Agreement.
Insurance purchased by Secured Party may include coverage beyond those required by this Section. The cost of such insurance may include: (i) premium expense; (ii) premium finance charges; and (iii) fees for billing and other
administrative services. Secured Party’s affiliates may act as insurance carrier, premium finance company and/or insurance administrator, and may be compensated through premium charges, commissions, premium rebates and fees. Debtor acknowledges
that any insurance obtained by Secured Party is solely for the benefit of Secured Party and may be more expensive than insurance obtained by Debtor. Secured Party will promptly discontinue any insurance purchased by Secured Party upon Debtor’s
presentation of proper evidence of valid insurance meeting the requirements of this Section. Debtor hereby agrees that Secured Party may act as Debtor’s representative in making, adjusting and settling claims under or canceling any such
insurance policies covering the Collateral, and endorsing Debtor’s name on any drafts, checks or other instruments drawn by an insurer of the Collateral. 
  

	9.	Events of Default; Acceleration. 

 Debtor and
Secured Party acknowledge that time is of the essence in this Agreement. The following are events of default under this Agreement permitting Secured Party to take such action under Paragraph 10 of this Agreement, as Secured Party deems necessary:

  

	 	(a)	any of Debtor’s obligations to Secured Party and/or any affiliate of Secured Party under this Agreement, any Finance Plan or any other agreement are not paid or performed as
required; 

  

 Page 2 of 6 

	 	(b)	there occurs a default by any affiliate of Debtor under any agreement with Secured Party and/or any affiliate of Secured Party; 

  

	 	(c)	any sale or other disposition of the Collateral is made by Debtor other than in compliance with Paragraph 7 hereof; 

  

	 	(d)	Debtor breaches any representation, warranty or covenant contained herein or in any other instrument or agreement delivered by Debtor to Secured Party or any affiliate of Secured
Party in connection with this Agreement or any other transaction; 

  

	 	(e)	Debtor dies, ceases to do business as a going concern or there occurs a material change in the ownership or management of Debtor’s business; 

  

	 	(f)	any of the Collateral is lost, damaged or destroyed and Debtor fails to pay to Secured Party, within five (5) days thereafter, the unpaid Invoice Cost of such Collateral;

  

	 	(g)	Debtor becomes insolvent or bankrupt; makes an assignment for the benefit of creditors or consents to the appointment of a trustee or receiver; a trustee or a receiver is appointed
for Debtor or for a substantial part of its property without its consent and such trustee or receiver is not removed within a period of thirty (30) days; bankruptcy, reorganization or insolvency proceedings are instituted by or against Debtor
and, if instituted against Debtor, are not dismissed within a period of thirty (30) days; or if any of the foregoing occurs with respect to any guarantor or other party liable for any of Debtor’s and/or its affiliates obligations to
Secured Party and/or its affiliates; 

  

	 	(h)	all or any part of the Collateral is attached, levied or seized upon in any proceeding and such process is not discharged within ten (10) days; 

  

	 	(i)	Secured Party believes that the prospect of payment or performance of Debtor’s and/or its affiliates obligations to Secured Party and/or its affiliates is impaired, whether by
reason of a material adverse change in the business prospects or financial condition of Debtor or otherwise, or, in good faith, believes that the Collateral is insufficient security for Debtor’s obligations to Secured Party; or

  

	 	(j)	any guarantor, surety or endorser for any of Debtor’s and/or its affiliates obligations to Secured Party and/or its affiliates dies, defaults in any obligation or liability
owing to Secured Party or any affiliate of Secured Party, or any guaranty of the obligations secured hereby is terminated. 

 If Debtor is in default hereunder, the indebtedness herein described and all other debts then owing by Debtor to Secured Party and/or its affiliates under this Agreement or any other present or future agreement shall, if Secured Party or
any such affiliate shall so elect, become immediately due and payable. 
  

	10.	Secured Party’s Remedies After Default; Consent to Enter Premises. 

 Upon a default hereunder, and at any time thereafter, Secured Party shall have all of the rights and remedies of a secured party under the Uniform Commercial Code and any other applicable laws, including the right to
collect from Debtor any deficiency remaining after disposition of the Collateral. Debtor agrees that Secured Party may, by itself or through an agent, without notice to any person and without judicial process of any kind, enter into any premises or
upon any land owned, leased or otherwise under the apparent control of Debtor where Secured Party believes the Collateral may be, and disassemble, render unusable and/or repossess all or any items of the Collateral. Debtor expressly waive all rights
to possession of the Collateral after default and all claims for injuries suffered through or loss caused by such entering and/or repossession by Secured Party. Debtor shall, upon demand by Secured Party, assemble the Collateral and return it to
Secured Party at a place designated by Secured Party. Secured Party will give Debtor reasonable notice of the time and place of any public sale of the Collateral or of the time after which any private sale of the Collateral or any other intended
disposition thereof is to be made. The requirement of reasonable notice shall be met if such notice is mailed to the notice address of Debtor shown herein at least ten (10) days before the time of the sale or other disposition of the
Collateral. Debtor agrees that the repurchase of any item of Collateral by the manufacturer or any distributor thereof shall constitute a commercially reasonable private sale of the Collateral by Secured Party, if the price obtained is equal to:
(a) the then outstanding Invoice Cost of such item of Collateral, minus (b) amounts incurred, if any, to restore such item of Collateral to the equivalent of unused condition. Expenses of retaking, holding, preparing for sale, selling and
the like shall include attorney’s fees and other legal expenses. Debtor understands that Secured Party’s rights are cumulative and not alternative. 
  

	11.	Waiver of Defaults; Agreement Inclusive. 

 Secured
Party may, in its sole discretion, waive a default or cure a default at Debtor’s expense. Any such waiver in any particular instance or any waiver of a particular default shall not be a waiver of any other defaults at the same time or at any
other time. No modification or change in this Agreement, or supplement hereto, shall bind Secured Party unless in writing and signed by an authorized officer of Secured Party. 
  

	12.	Financing Statements; Financial Information. 

 Debtor shall execute all financing statements or other instruments which Secured Party reasonably deems to be necessary or appropriate to protect and perfect its security interest in the Collateral. Debtor authorizes Secured Party to file a
financing statement with respect to the Collateral. Debtor will deliver to Secured Party, within ninety (90) days after the close of each fiscal year of Debtor, Debtor’s balance sheet and statement of income (“Financial
Statements”), certified by a recognized firm of certified public accountants as having been prepared in accordance with generally accepted accounting principles and as presenting fairly the financial condition of Debtor as of the date thereof
and for the period then ended. Upon request, Debtor will deliver to Secured Party, within ninety (90) days after the close of each fiscal quarter of the Debtor, copies of Debtor’s quarterly Financial Statements certified by the chief
financial officer of Debtor as presenting fairly the financial condition of Debtor as of the date thereof and for the period then ended. 
  

	13.	Miscellaneous. 

 Secured Party may correct patent
errors herein and fill in blanks. Any provisions hereof contrary to, prohibited by, or invalid under applicable law, shall be inapplicable hereto, deemed omitted herefrom, and shall not invalidate the remaining provisions hereof. Secured Party may
establish a 
  

 Page 3 of 6 

 credit limit for Debtor and may adjust such credit limit from time to time. Such credit limit will not
constitute a committed line of credit. It is the intention of Secured Party not to charge interest pursuant to the Finance Plans at a rate in excess of the highest rate permitted by applicable law. In making such determination, interest on any
outstanding loan amount shall be spread over the entire period that such loan amount is outstanding. Any such excess charges paid by Debtor to Secured Party shall be applied to reduce the applicable loan amount outstanding or refunded to Debtor, as
appropriate. Debtor acknowledge receipt of a true copy hereof and waives notice of Secured Party’s acceptance hereof. Debtor represents that this Agreement is executed pursuant to authority of its Board of Directors and constitutes the valid
and binding obligation of Debtor. Debtor may not assign its rights or delegate its obligations hereunder without the prior written consent of Secured Party. All notices hereunder shall be in writing and delivered or sent to the respective addresses
set forth herein, or such other address as either Secured Party or Debtor may hereafter designate to the other. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF RHODE ISLAND, WITHOUT REFERENCE TO
APPLICABLE CONFLICT OF LAW PRINCIPLES. EACH OF THE PARTIES HERETO CONSENTS TO THE NON-EXCLUSIVE JURISDICTION OF RHODE ISLAND COURTS IN CONNECTION WITH THE RESOLUTION OF ANY DISPUTES CONCERNING THE MATTERS CONTEMPLATED HEREIN. 
 The parties hereto have executed this Agreement as of the date set forth above. 
  

									
	SECURED PARTY:	 	DEBTOR:
		
	 TEXTRON FINANCIAL CORPORATION,
 for itself
and as agent for its affiliates
	 	ALL HOMES CORP.
				
	By:	 	 /s/ Nick Bryant
	 	By:	 	 /s/ Robert G. Blatz

	Print Name:	 	Nick Bryant	 	Print Name:	 	ROBERT G. BLATZ
	Print Title:	 	Documentation Manager	 	Print Title:	 	President
		 	Secured Party’s address for notices:	 	P.O. Box 3090	 		 	
		 		 	    Alpharetta, GA 30023	 		 	
		 		 		 	WITNESS FOR DEBTORS SIGNATURE:
				
		 		 		 	  

					
		 		 		 	Name:	 	  

					
		 		 		 	Home Address:	 	  

				
		 		 		 	  

		 		 		 	Debtor’s principal place of business and address for notices:

									
					
		 		 		 	Street:	 	29399 US 19 N, SUITE 320
		 		 		 	City:	 	CLEARWATER        State: FL
		 		 		 		 	                                    Zip:
33761
		 		 		 	Name (s) of Debtor’s other partner(s) (if applicable):
		 		 		 	  

  

 Page 4 of 6 

 EXHIBIT A 
 All equipment and inventory, wherever located, in which Debtor now or hereafter has rights, including, but not limited to, manufactured homes and installed or related appliances or products; all present and future attachments, accessories
and accessions thereto; all spare parts, replacements, substitutions and exchanges therefore; all trade-ins relating thereto; all instruments, accounts and chattel paper arising therefrom (including leases and conditional sales contracts); and the
proceeds of all of the foregoing, including proceeds in the form of goods, accounts, chattel paper, documents, instruments and/or general intangibles. 
  

			
	ACCEPTED:
	
	 /s/ Robert G. Blatz

	Name:	 	Robert G. Blatz
	Title:	 	President

  

 Page 5 of 6 

 

 
 Textron Financial Corporation, Subsidiary of Textron Inc. 
 SECRETARY’S CERTIFICATE 
 The undersigned Shannon E. Smith Secretary
of All Homes Corp. (the “Company”), in order to induce Textron Financial Corporation (“TFC”) to enter into the Agreement(s) (as hereinafter defined), certifies to TFC that: 
 1. The Company is duly organized, validly existing and in good standing under the laws of the State or Commonwealth of Delaware; the Company has
full corporate power and authority to execute, enter into and deliver the Amended and Restated Wholesale Security Agreement dated August 17, 2006 between the Company and TFC and any and all other documents related thereto, whether
now or hereafter executed (the “Agreement(s)”); and all corporate action necessary to authorize the execution, delivery and performance of the Agreement(s) has been taken and such action has not been modified or rescinded in any respect.

 2. Each of the following persons is a duly elected (or appointed), qualified and acting officer of the Company, having full power and
authority to act alone on behalf of the Company with respect to the Agreement(s), including any future modification(s) thereof, and to execute and deliver such other instruments and agreements in connection therewith as he or she may deem necessary
or proper; Said power and authority is being relied upon by TFC and shall remain in force and effect unless TFC shall receive in writing notice of the revocation of the following person(s) power to so act on behalf of the Company. The signature
appearing opposite his or her name below is his or her genuine signature: 
  

					
	Name	  	Office	 	Signature
	Robert G. Blatz	  	President	 	 /s/ Robert G. Blatz

 IN WITNESS WHEREOF, the undersigned has hereunto signed his or her name and imprinted the seal of
the Company as of the date set forth below. 
  

	
	 /s/ Shannon Smith

	 Secretary            Shannon Smith

 Date: August 17, 2006  
 1044P (Gen.) (11/89) 
 Secretary’s Certificate 
  

 Page 6 of 6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00109-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00109-of-00352.parquet"}]]