Document:

Exhibit 10.1_No. 5 Amendment to SVB Second Amended and Restated Agreement

EXECUTION VERSION

AMENDMENT NO. 5
TO 
SECOND AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT
THIS AMENDMENT NO. 5 TO SECOND AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT (this “Amendment”) is entered into this 30th day of March, 2016 (the “Fifth Amendment Effective Date”) by and among AVIAT NETWORKS, INC., a Delaware corporation (“Parent”), AVIAT US., INC. (“Opco,” together with Parent, the “US Borrowers”) and AVIAT NETWORKS (S) PTE. LTD., a private company limited by shares formed under the laws of the Republic of Singapore (“Aviat Singapore” or “Singapore Borrower,” and together with the US Borrowers, the “Borrowers”), and SILICON VALLEY BANK (“Bank”).  Capitalized terms used herein without definition shall have the same meanings given them in the Loan Agreement (as defined below).
RECITALS
A.Borrowers and Bank have entered into that certain Second Amended and Restated Loan and Security Agreement dated as of March 28, 2014 (as amended, restated, modified and/or supplemented from time to time, the “Loan Agreement”), pursuant to which Bank agreed to extend and make available to Borrowers certain advances of money.
B.Bank has extended credit to Borrowers for the purposes permitted in the Loan Agreement.  
C.Borrowers have requested that Bank amend the Loan Agreement to make certain revisions to the Loan Agreement as more fully set forth herein.
D.Bank has agreed to so amend certain provisions of the Loan Agreement, but only to the extent, in accordance with the terms, subject to the conditions and in reliance upon the representations and warranties set forth below.
AGREEMENT
NOW, THEREFORE, in consideration of the foregoing Recitals and intending to be legally bound, the parties hereto agree as follows:
1.AMENDMENT TO LOAN AGREEMENT.
1.1.      Section 13.1 (Definitions).  The definition of “Revolving Line” in Section 13.1 of the Loan Agreement is hereby amended and restated in its entirety as follows:
““Revolving Line” is an aggregate principal amount equal to Thirty Million Dollars ($30,000,000).”

1.2.      Section 6.9(b) (EBITDA). Subsection (b) of Section 6.9 (Financial Covenants) of the Loan Agreement is hereby amended by replacing the chart therein with the following:

	
		
	Period
	Minimum EBITDA

	Fiscal quarter ending March 28, 2014
	($17,000,000)

	Fiscal quarter ending June 27, 2014*
	($27,000,000)

	Fiscal quarter ending September 26, 2014*
	($12,000,000)

	Fiscal quarter ending December 26, 2014*
	($8,000,000)

	Fiscal quarter ending April 3, 2015
	($10,000,000)

	Fiscal quarter ending July 3, 2015
	($1,500,000)

	Fiscal quarter ending October 2, 2015
	$1.00

	Fiscal quarter ending January 1, 2016*
	$1.00

	Fiscal quarter ending April 1, 2016 *
	($5,500,000)

	Each quarter following the quarter ending April 1, 2016*
	$1.00

	*Measured on a trailing two fiscal quarter basis
	 

2.BORROWERS’ REPRESENTATIONS AND WARRANTIES.  Each Borrower hereby represents and warrants that:
(a)    immediately upon giving effect to this Amendment (i) the representations and warranties contained in the Loan Documents are true, accurate and complete in all material respects as of the date hereof (except to the extent such representations and warranties relate to an earlier date, in which case they are true and correct as of such date), and (ii) no Event of Default has occurred and is continuing;
(b)    such Borrower has the corporate power and authority to execute and deliver this Amendment and to perform its obligations under the Loan Agreement, as amended by this Amendment;
(c)    the certificate of incorporation, bylaws and other organizational documents of such Borrower delivered to Bank in connection with the Loan Agreement remain true, accurate and complete and have not been amended, supplemented or restated and are and continue to be in full force and effect;
(d)    the execution and delivery by such Borrower of this Amendment and the performance by such Borrower of its obligations under the Loan Agreement, as amended by this Amendment, have been duly authorized by all necessary corporate action on the part of such Borrower; and
(e)    this Amendment has been duly executed and delivered by such Borrower and is the binding obligation of such Borrower, enforceable against it in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, liquidation, moratorium or other similar laws of general application and equitable principles relating to or affecting creditors’ rights.
3.LIMITATION.  The amendments set forth in this Amendment shall be limited precisely as written and shall not be deemed (a) to be a waiver or modification of any other term or condition of the Loan Agreement or of any other instrument or agreement referred to therein or to prejudice any right or remedy which Bank may now have or may have in the future under or in connection with the Loan Agreement or any instrument or agreement referred to therein; or (b) to be a consent to any future amendment or modification or waiver to any instrument or agreement the execution and delivery of which is consented to hereby, or to 

any waiver of any of the provisions thereof.  Except as expressly amended hereby, the Loan Agreement shall continue in full force and effect.
4.EFFECTIVENESS.  This Amendment shall become effective upon (a) delivery of this Amendment, duly executed by each Borrower and Bank, and (b) payment of all fees and expenses, as described in Section 5 of this Amendment.
5.FEES AND EXPENSES.  Borrowers agree to pay (a) Bank Expenses (including the fees and expenses of Bank’s counsel, advisors and consultants) accrued and incurred in connection with the transactions contemplated by this Amendment and all other Bank Expenses (including the fees and expenses of Bank’s counsel, advisors and consultants) payable in accordance with the Loan Agreement; and (b) a $10,000.00 amendment fee.
6.COUNTERPARTS.  This Amendment may be signed in any number of counterparts, and by different parties hereto in separate counterparts, with the same effect as if the signatures to each such counterpart were upon a single instrument.  All counterparts shall be deemed an original of this Amendment.
7.INTEGRATION.  This Amendment and any documents executed in connection herewith or pursuant hereto contain the entire agreement between the parties with respect to the subject matter hereof and supersede all prior agreements, understandings, offers and negotiations, oral or written, with respect thereto and no extrinsic evidence whatsoever may be introduced in any judicial or arbitration proceeding, if any, involving this Amendment; except that any financing statements or other agreements or instruments filed by Bank with respect to Borrowers and the Collateral shall remain in full force and effect.  This Amendment is a Loan Document.
8.CHOICE OF LAW, VENUE, JURY TRIAL WAIVER, AND JUDICIAL REFERENCE.  THIS AMENDMENT SHALL BE SUBJECT TO THE PROVISIONS REGARDING CHOICE OF LAW AND VENUE, JURY TRIAL WAIVER, REFERENCE PROCEEDINGS AND ARBITRATION SET FORTH IN SECTION 11 OF THE LOAN AGREEMENT, AND SUCH PROVISIONS ARE INCORPORATED HEREIN BY REFERENCE, MUTATIS MUTANDIS.
[Signature Pages Follow]

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

BORROWERS:
AVIAT NETWORKS, INC. 

By    /s/ Ralph Marimon              
Name: Ralph Marimon
Title:   CFO

 
AVIAT U.S., INC. 

By    /s/ Kevin Holwell                    
Name: Kevin Holwell
Title:   VP Finance

 
AVIAT NETWORKS (S) PTE. LTD. 

By    /s/ Kevin Holwell                    
Name: Kevin Holwell
Title:   Director

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

BANK:
SILICON VALLEY BANK 

By    /s/ Austin Badger                 
Name: Austin Badger
Title:   Vice President

Exhibit B 

EXHIBIT B

FORM OF COMPLIANCE CERTIFICATE

TO:    SILICON VALLEY BANK                        Date:  
FROM:  AVIAT NETWORKS, INC.

The undersigned authorized officer of Aviat Networks, Inc. (“Administrative Borrower”) certifies that under the terms and conditions of the Second Amended and Restated Loan and Security Agreement dated as of March 28, 2014 (as amended, modified, supplemented or restated from time to time, the “Loan Agreement”), by and among Administrative Borrower, Aviat U.S., Inc. (“Opco”), Aviat Networks (S) Pte. Ltd. (“Singapore Borrower” and together with the Administrative Borrower and Opco, each a “Borrower” and collectively, “Borrowers”) and Silicon Valley Bank (“Bank”): 
(1) Each Borrower is in complete compliance for the period ending _______________ with all required covenants except as noted below; (2) there are no Events of Default in existence; (3) all representations and warranties in the Loan Agreement are true and correct in all material respects on this date except as noted below; provided, however, that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof; and provided, further that those representations and warranties expressly referring to a specific date shall be true, accurate and complete in all material respects as of such date; (4) each Borrower, and each of its Subsidiaries, has timely filed all material tax returns and reports that are required to be filed, and each Borrower has timely paid all material foreign, federal, state and local taxes, assessments, deposits and contributions owed by each Borrower except as otherwise permitted pursuant to the terms of Section 5.9 of the Loan Agreement; (5) (a)there are no collective bargaining agreements covering the employees of any Borrower or any of their domestic Subsidiaries, (b) there is not pending, nor (to the knowledge of any Borrower) is there threatened, any strike, walkout, slowdown or work stoppage, or any unfair labor practice complaint or grievance or arbitration proceeding arising out of or under any collective bargaining agreement covering the employees of any Borrower or any of their Subsidiaries that, individually or in the aggregate, could reasonably be expected to result in a Material Adverse Change, and (c) the hours worked and payments made to employees of Borrowers and their domestic Subsidiaries have not been in violation in any material respect of the Fair Labor Standards Act or any other applicable law dealing with such matters; and (6) Borrowers are in compliance with Sections 6.1(b) and 6.8 and of the Loan Agreement.  

Attached are the required documents supporting the certification.  The undersigned certifies that the attached financial statements are prepared in accordance with GAAP consistently applied from one period to the next except as explained in an accompanying letter or footnotes and except, in the case of unaudited financial statements, for the absence of footnotes and subject to year-end adjustments.  The undersigned acknowledges that no borrowings may be requested at any time or date of determination that Borrower is not in compliance with any of the terms of the Loan Agreement, and that compliance is determined not just at the date this certificate is delivered.  Capitalized terms used but not otherwise defined herein shall have the meanings given them in the Loan Agreement.

	
			
	Please indicate compliance status by circling Yes/No under “Complies” column.

	 

	Reporting Covenant
	Required
	Complies

	Transaction Report (in connection with Advance)
	With each request for an Advance
	Yes   No

	Monthly Transaction Report
	Within 30 days of month end when Streamline Period is in effect for 6 months after the Effective Date and each month thereafter, within 20 days of month end when Streamline Period is in effect
	Yes   No

	Weekly Transaction Report
	No later than Friday each week when Streamline Period is not in effect
	Yes   No

	Cash holdings report
	Within 30 days of month end
	Yes   No

	Quarterly financial statements with Compliance Certificate
	Within 5 days of filing with the SEC, but no later than 45 days after fiscal quarter end
	Yes   No

	Monthly financial statements with Compliance Certificate
	Within 30 days of month end
	Yes   No

	Monthly Borrowing Base Reports
	Within 30 days of month end when Streamline Period is in effect
	Yes   No

	Weekly Borrowing Base Reports
	No later than Friday each week when Streamline Period is not in effect
	Yes   No

	Annual financial statement (CPA Audited) + Compliance Certificate
	Within 5 days of filings with the SEC but no later than 90 days after FYE 
	Yes   No

	10‐Q, 10‐K and 8-K
	Within 5 days after filing with SEC
	Yes   No

	Annual operating budgets for upcoming fiscal year and board approval of such annual operating budgets
	Within 45 days prior to the FYE but evidence of board approval to be delivered by September 15 of such fiscal year
	Yes   No

	Report of any legal actions pending or threatened in writing against Borrower or any of its Subsidiaries that could result in damages or costs to Borrower or any of its Subsidiaries of, individually or in the aggregate, $1,000,000 or more
	Promptly
	Yes   No

	
					
	Financial Covenant
	Required
	Actual
	Complies

	Adjusted Quick Ratio
	1.05:1.00
	____:1.00
	Yes   No

	Maintain on a Quarterly Basis:
	 
	 
	 

	EBITDA
	Fiscal Quarter End
	EBITDA
	 
	Yes   No

	March 28, 2014
	($17,000,000)

	June 27, 2014*
	($27,000,000)

	September 26, 2014*
	($12,000,000)

	December 26, 2014*
	($8,000,000)

	April 3, 2015
	($10,000,000)

	July 3, 2015
	($1,500,000)

	October 2, 2015
	$1.00

	January 1, 2016*
	$1.00
	 
	 

	April 1, 2016
	($5,500,000)
	 
	 

	Each quarter following the quarter ending April 1, 2016 *
	$1.00
	 
	 

*measured on a trailing two fiscal quarter basis

The following financial covenant analys[is][es] and information set forth in Schedule 1 attached hereto are true and accurate as of the date this Certificate is delivered to Bank as set forth in the first line of this Certificate.

The following are the exceptions with respect to the certification above:  (If no exceptions exist, state “No exceptions to note.”)

------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

	
		
	ADMINISTRATIVE BORROWER:

AVIAT NETWORKS, INC.

By:  ______________________________
        Name:  ________________________
        Title:    ________________________

	BANK USE ONLY

Received by: _________________________
AUTHORIZED SIGNER
Date: _______________________________

Verified: ____________________________
AUTHORIZED SIGNER
Date: _______________________________

Compliance Status:        Yes     No

Schedule 1 to Compliance Certificate

Financial Covenants of Borrower

In the event of a conflict between this Schedule and the Loan Agreement, the terms of the Loan Agreement shall govern.

Dated:    ____________________

I.    Adjusted Quick Ratio (Section 6.9(a))

Required:    1.05:1.00

Actual:    

	
			
	A.1.
	Unrestricted cash and Cash Equivalents of Borrowers, net billed accounts receivable  and investments with Bank with maturities of fewer than 12 months determined according to GAAP
	$____________

	B.1.
	All obligation and liabilities of Borrowers to Bank
	$____________

	B.2.
	Aggregate amount of Borrowers’ Total Liabilities maturing within 1 year (without duplication)
	$____________

	B.3.
	 Current Liabilities (B.1. plus B.2.)
	$____________

	C.1.
	Deferred Revenue
	$____________

	D.1.
	Consolidated Funded Indebtedness (without duplication)
	$____________

	E.1.
	Current Liabilities (less Deferred Revenue) plus, without duplication, Consolidated Funded Indebtedness (B.3. minus C.1. plus D.1)
	$____________

	F.
	Adjusted Quick Ratio (ratio of A.1. to E.1)
	1.____:1.00

Is line F at least 1.05? 

________  No, not in compliance                _______      Yes, in compliance

II.    EBITDA (Section 6.9(b))
Required:
	
		
	Fiscal Quarter End
	EBITDA

	March 28, 2014
	($17,000,000)

	June 27, 2014*
	($27,000,000)

	September 26, 2014*
	($12,000,000)

	December 26, 2014*
	($8,000,000)

	April 3, 2015
	($10,000,000)

	July 3, 2015
	($1,500,000)

	October 2, 2015 
	$1.00

	January 1, 2016*
	$1.00

	April 1, 2016
	($5,500,000)

	Each quarter following the quarter ending April 1, 2016*
	$1.00

*measured on a trailing two fiscal quarter basis

Actual:
	
			
	A.
	Consolidated Net Income
	$ _____________

	 
	To the extent deducted in the calculation of Net Income (Line A):
	 

	 
	(i)Consolidated Interest Charges
	$_____________

	 
	(ii)Income tax expense 
	$_____________

	 
	(iii)Depreciation and amortization expense 
	$_____________

	 
	(iv)Restructuring charges incurred in connection with impairment of real estate (to the extent agreed to by Bank in writing)
	$_____________

	 
	(v)Non-cash stock-based compensation expense
	$______________

	 
	(vi)Non-cash charges for customer inventory due to downward revaluation
	$_____________

	 
	(vii)Non-cash charges related to discontinued operations occurring prior to the
Effective Date
	$_____________

	 
	(viii)Other non-recurring non-cash expenses 
	$_____________

	B.
	Sum of (i) through (viii)
	$_____________

	 
	To the extent included in calculating Consolidated Net Income (Line A):
	 

	 
	(i)Income tax credits 
	$_____________

	 
	(ii)Other non-cash items increasing Consolidated Net Income 
	$_____________

	C.
	Sum of Line (i) through (ii)
	$_____________

	D.
	EBITDA (A. plus B. minus C.)
	$_____________

Is Line D at least the amount required (see chart above)? 
 ______    No, not in compliance    _____  Yes, in complianceExhibit

AMENDMENT NO. 7, dated as of March 28, 2016 (this “Amendment”), among LOGAN’S ROADHOUSE, INC., a Tennessee corporation (the “Borrower”), LRI HOLDINGS, INC., a Delaware corporation (“Holdings”), the Subsidiary Guarantors listed on the signature pages hereto, JPMORGAN CHASE BANK, N.A., as Administrative Agent, and the Lenders listed on the signature pages hereto, to the CREDIT AGREEMENT, dated as of October 4, 2010, as amended, supplemented, amended and restated or otherwise modified from time to time (the “Credit Agreement”) among the Borrower, Holdings, each lender from time to time party thereto (collectively, the “Lenders” and, individually, a “Lender”), JPMORGAN CHASE BANK, N.A., as Administrative Agent, and the other financial institutions party thereto.  Capitalized terms used and not otherwise defined herein shall have the meanings assigned to them in the Credit Agreement.
WHEREAS, Section 10.1 of the Credit Agreement permits certain amendments to the Credit Agreement to be effected from time to time with the written consent of the Required Lenders, the Administrative Agent and each Loan Party party thereto;
NOW, THEREFORE, in consideration of the premises and covenants contained herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows:
		
	Section 1.
	Amendments.

As of the Amendment No. 7 Effective Date (as defined below), the Credit Agreement shall be amended as follows:
(a)Section 1.1 of the Credit Agreement is hereby amended by adding the following definitions:
“Bail-In Action”:  the exercise of any Write-Down and Conversion Powers by the applicable EEA Resolution Authority in respect of any liability of an EEA Financial Institution.

“Bail-In Legislation”:  with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to time which is described in the EU Bail-In Legislation Schedule.

“EEA Financial Institution”:  (a) any credit institution or investment firm established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in clause (a) of this definition and is subject to the supervision of an EEA Resolution Authority, or (c) any financial institution established in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision of an EEA Resolution Authority with its parent.

“EEA Member Country”:  any of the member states of the European Union, Iceland, Liechtenstein, and Norway.

“EEA Resolution Authority”:  any public administrative authority or any Person entrusted with public administrative authority of any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution.

“EU Bail-In Legislation Schedule”:  the EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor Person), as in effect from time to time.

“Unrestricted Cash”: at any date of determination, the aggregate amount of cash and Cash Equivalents of the Loan Parties not subject to any contractual restriction (other than a contractual 

restriction imposed by the Loan Documents) on the application thereof and not subject to any Lien (other than (i) Liens created by the Loan Documents, (ii) subject to the Intercreditor Agreement, Liens securing the Senior Secured Notes, the New Senior Secured Notes and any Permitted Refinancing Debt in respect thereof and (iii) Liens permitted by Section 7.1(i)).  

“Write-Down and Conversion Powers”:  with respect to any EEA Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule.
(b)The definition of “Consolidated First Lien Leverage Ratio” in Section 1.1 of the Credit Agreement is hereby deleted in its entirety.
(c)The definition of “Consolidated Total First Lien Debt” in Section 1.1 of the Credit Agreement is hereby deleted in its entirety.
(d)The definition of “Covenant Compliance Period” in Section 1.1 of the Credit Agreement is hereby deleted in its entirety.
(e)The definition of “Defaulting Lender” in Section 1.1 of the Credit Agreement is hereby amended by (i) removing the word “or” before clause (d) thereof, (ii) removing the “.” from the end of clause (d) thereof and substituting in lieu thereof the text “, or ” and (iii) inserting the following new clause (e):
“(e) has, or has a direct or indirect parent company that has, become the subject of a Bail-In Action.”
(f)The definition of “Permitted Refinancing Debt” in Section 1.1 of the Credit Agreement is hereby amended by (i) replacing the text “7.17” with “7.17(b)” in clause (h) thereof and (ii) deleting the text “(whether or not a Covenant Compliance Period is in effect), as of the most recently ended fiscal period for which financial statements were delivered pursuant to Sections 6.1(a)or 6.1(b),” from clause (h) thereof.
(g)Section 2.16 of the Credit Agreement is hereby amended by: 
(i) inserting the text “Form W-8BEN-E,” immediately after the text “Form W-8BEN,” in clause (e) thereof; 
(ii) inserting the following sentence as a new sentence after the end of clause (iii) of clause (e) thereof:
“If a payment made to a Lender under any Loan Document would be subject to U.S. federal withholding Tax imposed by FATCA if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to the Borrower and the Administrative Agent at the time or times prescribed by law and at such time or times reasonably requested by the Borrower or the Administrative Agent such documentation prescribed by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the Borrower or the Administrative Agent as may be necessary for the Borrower and the Administrative Agent to comply with their obligations under FATCA and to determine that such Lender has complied with such Lender’s obligations under FATCA or to determine the amount to deduct and withhold from such payment.  Solely for purposes of foregoing sentence, “FATCA” shall include any amendments made to FATCA after the date of this Agreement.”
(iii) redesignating clause (f) thereof as clause (g), redesignating clause (g) thereof as clause (h) and inserting the following new clause (f):
“(f)    For purposes of determining withholding Taxes imposed under FATCA, from and after the Amendment No. 4 Effective Date, the Borrower and the Administrative Agent shall treat 

(and the Lenders hereby authorize the Administrative Agent to treat) the Obligations as not qualifying as a “grandfathered obligation” within the meaning of Treasury Regulation Section 1.1471-2(b)(2)(i).”
(h)Section 4 of the Credit Agreement is hereby amended by adding the following new Section 4.25:
“4.25    EEA Financial Institutions.  No Loan Party is an EEA Financial Institution.”
(i)Section 5.2 of the Credit Agreement is hereby amended by deleting clause (c) thereof in its entirety and substituting in lieu thereof the text “[Reserved]”.
(j)Section 6.1 of the Credit Agreement is hereby amended by deleting the following text from clause (a) thereof: ““going concern” or like qualification or exception, or”.
(k)Section 6.2 of the Credit Agreement is hereby amended by:
(i) deleting the word “and” at the end of clause (h) thereof;
(ii) deleting the text “as well as the Borrower’s 13-week liquidity forecast” from clause (i) thereof;
(iii) deleting the “.” at the end of clause (i) thereof and substituting in lieu thereof the text “;”; 
(iv) inserting the following new clause (j):
“as soon as available, but in any event not later than three Business Days after the end of every second fiscal week of the Borrower, the Borrower’s 26-week liquidity forecast, as customarily prepared by the Borrower for its internal use; and”
(v) inserting the following new clause (k):
“as soon as available, but in any event not later than three Business Days after the end of each fiscal week of the Borrower, documentation reasonably satisfactory to the Administrative Agent evidencing compliance with the financial covenant set forth in Section 7.17(b).”
(l)Section 7.6 of the Credit Agreement is hereby amended by replacing clause (v)(2)(x) of clause (g) thereof in its entirety with the text “(x) the Borrower shall be in compliance with the financial covenant set forth in Section 7.17(b) as of the most recently ended fiscal week and”.
(m)Section 7.16 of the Credit Agreement is hereby amended by replacing the second to last row of the chart therein in full with the following:
	
		
	December 28, 2016
	$15,000,000

(n)Section 7.17 of the Credit Agreement is hereby amended and restated in its entirety as follows:
“7.17    Financial Covenants.
(a)    Minimum EBITDA.  Permit Consolidated EBITDA as of the last day of any period of twelve consecutive fiscal months of the Borrower ending with any fiscal month set forth below to be less than the amount set forth below opposite such fiscal month:

	
		
	Each Fiscal Month Ending
	Minimum Consolidated EBITDA

	February 24, 2016
	$17,500,000

	March 30, 2016
	$17,500,000

	April 27, 2016
	$17,500,000

	May 25, 2016
	$19,000,000

	June 29, 2016
	$22,000,000

	July 27, 2016
	$24,000,000

	August 24, 2016
	$26,000,000

	September 28, 2016
	$26,500,000

	October 26, 2016
	$30,000,000

	November 23, 2016
	$31,000,000

	December 28, 2016
	$32,000,000

	December 29, 2016 through the 
Revolving Termination Date
	$32,000,000

For purposes of determining Consolidated EBITDA under this Section 7.17(a), pro forma effect shall be given to each component as set forth in the last sentence of the definition of “Consolidated EBITDA,” including the 10% limitation set forth in the proviso thereto, and the pro forma calculations will be determined in good faith by a responsible financial or accounting officer of the Borrower (including pro forma expense and cost reductions calculated on a basis consistent with Regulation S-X under the Securities Act) and evidenced by an Officer’s Certificate setting forth the basis of such calculations.

(b)    Minimum Liquidity.  Permit the sum of Unrestricted Cash and the aggregate amount of the unused Revolving Commitments to be less than $8,000,000 as at the end of each fiscal week.”
(o)Section 10 of the Credit Agreement is hereby amended by adding the following new Section 10.19:
“10.19.         Acknowledgement and Consent to Bail-In of EEA Financial Institutions.  Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such parties, each party hereto acknowledges that any liability of any EEA Financial Institution arising under any Loan Document, to the extent such liability is unsecured, may be subject to Write-Down and Conversion Powers and agrees and consents to, and acknowledges and agrees to be bound by:
(a)     the application of any Write-Down and Conversion Powers to any such liabilities arising hereunder which may be payable to it by any party hereto that is an EEA Financial Institution; and
(b)     the effects of any Bail-In Action on any such liability, including, if applicable:
(i)     a reduction in full or in part or cancellation of any such liability;
(ii)     a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such EEA Financial Institution, its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any such liability under this Agreement or any other Loan Document; or

(iii)     the variation of the terms of such liability in connection with the exercise of Write-Down and Conversion Powers.”
		
	Section 2.
	Representations and Warranties.

Each of Holdings and the Borrower represents and warrants to the Lenders as of the Amendment No. 7 Effective Date (as defined below) that:
(a)Each of the representations and warranties made by any Loan Party in or pursuant to the Loan Documents are true and correct in all material respects on and as of the Amendment No. 7 Effective Date, except to the extent such representations and warranties expressly relate to an earlier date (in which case such representations and warranties shall be true and correct as of such earlier date).
(b)No Default or Event of Default has occurred and is continuing.
		
	Section 3.
	Conditions to Effectiveness.

This Amendment shall become effective as of the date first written above (the “Amendment No. 7 Effective Date”) only upon satisfaction in full of the following conditions precedent:
(a)the Administrative Agent (or its counsel) shall have received from (i) each Lender and (ii) each of the other parties hereto, a counterpart of this Amendment signed on their behalf;
(b)the Lenders and the Administrative Agent shall have received all fees required to be paid, and all expenses for which invoices have been presented (including the reasonable fees and expenses of legal counsel);
(c)each of the representations and warranties made by any Loan Party in or pursuant to the Loan Documents shall be true and correct in all material respects on and as of the Amendment No. 7 Effective Date, except to the extent such representations and warranties expressly relate to an earlier date (in which case such representations and warranties shall be true and correct as of such earlier date); and
(d)no Default or Event of Default has occurred and is continuing.
The Administrative Agent will confirm to the Borrower the completion of the condition set forth in clause (a)(i) of this Section 3.
		
	Section 4.
	Counterparts.

This Amendment may be executed by one or more of the parties to this Amendment on any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument.  Delivery of an executed signature page of this Amendment by email or facsimile transmission shall be effective as delivery of a manually executed counterpart hereof.  A set of the copies of this Amendment signed by all the parties shall be lodged with the Borrower and the Administrative Agent.
		
	Section 5.
	Applicable Law.

THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.
		
	Section 6.
	Effect of Amendment.

Except as expressly set forth herein, this Amendment shall not by implication or otherwise limit, impair, constitute a waiver of or otherwise affect the rights and remedies of the Lenders or the Agents under the Credit Agreement or any other Loan Document, and shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other provision of the Credit Agreement or any other Loan Document, all of which are ratified and affirmed in all respects and shall continue in full force and effect.
 [Signature pages follow]

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of the date first above written.
LOGAN’S ROADHOUSE, INC.
By:      /s/ Samuel N. Borgese               
Name:  Samuel N. Borgese    
Title:  President and Chief Executive Officer    

LRI HOLDINGS, INC.
		
	By:
	     /s/ Samuel N. Borgese               

Name:  Samuel N. Borgese        
Title: President and Chief Executive Officer
LOGAN’S ROADHOUSE OF KANSAS, INC.
		
	By:
	     /s/ Samuel N. Borgese               

Name:  Samuel N. Borgese    
Title: President and Chief Executive Officer
LOGAN’S ROADHOUSE OF TEXAS, INC.
		
	By:
	     /s/ Samuel N. Borgese               

Name:  Samuel N. Borgese        
Title: President
    

JPMORGAN CHASE BANK, N.A., as Administrative Agent, as Swingline Lender and as a Lender
		
	By:
	     /s/ Douglas A. Kravitz              

Name: Douglas A. Kravitz    
Title: Executive Director
    

CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as a Lender
		
	By:
	     /s/ Didier Siffer               

Name: Didier Siffer    
Title: Authorized Signatory
		
	By:
	     /s/ Laura Katherine Schembri               

Name: Laura Katherine Schembri    
Title: Authorized Signatory

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