Document:

EX-4.1

 Exhibit 4.1 

SECOND SUPPLEMENTAL INDENTURE 

THIS SECOND SUPPLEMENTAL INDENTURE (this “Second Supplemental Indenture”), is dated as of March 23, 2016, among
Carmike Cinemas, Inc., a Delaware corporation (the “Company”), the Guarantors (as defined in the Indenture referred to herein), and Wells Fargo Bank, National Association, a national banking association, as trustee (the
“Trustee”). 
 W I T N E S S E T H: 

WHEREAS, the Company and the Guarantors have heretofore executed and delivered to the Trustee an Indenture, dated as of June 17,
2015 (the “Indenture”), providing for the issuance of the Company’s 6.00% Senior Secured Notes due 2023 (the “Notes”); 

WHEREAS, $230,000,000 in aggregate principal amount of the Notes is currently outstanding; 

WHEREAS, Section 9.02 of the Indenture provides that, with the consent of the Holders of at least a majority in aggregate
principal amount of the then outstanding Notes, the Company, the Guarantors and the Trustee may enter into an indenture supplemental to the Indenture for the purpose of amending or supplementing the Indenture or the Notes (subject to certain
exceptions); 
 WHEREAS, the Company desires to enter into, and has requested the Trustee to join with it and the Guarantors in
entering into, this Second Supplemental Indenture for the purpose of amending the Indenture and the Notes in certain respects as permitted by Section 9.02 of the Indenture; 

WHEREAS, the consents have been solicited to this Second Supplemental Indenture upon the terms and subject to the conditions set forth
in the Company’s Consent Solicitation Statement, dated March 15, 2016, and the related Letter of Consent; 
 WHEREAS,
(a) the Company has received, and has delivered to the Trustee evidence of, the consent of the Holders of at least a majority in aggregate principal amount of the Notes and (b) the Company has delivered to the Trustee simultaneously with
the execution and delivery of this Second Supplemental Indenture an Officers’ Certificate and an Opinion of Counsel relating to this Second Supplemental Indenture; 

WHEREAS, all requirements necessary to make this Second Supplemental Indenture a valid, binding and enforceable instrument in
accordance with its terms have been met and performed, and the execution and delivery of this Second Supplemental Indenture has been duly authorized in all respects. 

NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby
acknowledged, the Company, the Guarantors and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows: 

 ARTICLE I 

AMENDMENTS TO INDENTURE AND NOTES 

Section 1.1 CHANGE OF CONTROL OFFER. 

Notwithstanding any other provision of the Indenture, the Company shall not be required to comply with any requirements and obligations
pursuant to Section 4.15 of the Indenture as a result of any Change of Control resulting from the acquisition (the “Acquisition”) by AMC Entertainment Holdings, Inc. or its Subsidiaries of all of the outstanding capital
stock or assets of the Company, including, but not limited to, the requirement for the Company to make a “Change of Control Offer” in connection with the Acquisition. 

Except as provided in the preceding paragraph, Section 4.15 (Offer to Repurchase Upon Change of Control) of the Indenture will continue
to be operative. 
 Section 1.2 AMENDMENT TO SECTION 4.03 

Section 4.03 of the Indenture is hereby amended by adding the following as clause (f) of Section 4.03: 

(f) In addition, if at any time any direct or indirect parent company of the Company becomes a Guarantor of the Notes, the reports, information
and other documents required to be filed and furnished to Holders of the Notes pursuant to this Section 4.03 may, at the option of the Company, be filed by and be those of such direct or indirect parent company rather than the Company. 

 ARTICLE II 

MISCELLANEOUS PROVISIONS 

Section 2.1 CAPITALIZED TERMS. Capitalized terms used herein without definition shall have the meanings assigned to them in the
Indenture. 
 Section 2.2 NO RECOURSE AGAINST OTHERS. No director, officer, employee, incorporator or stockholder of the Company or any
Guarantor, as such, will have any liability for any obligations of the Company or the Guarantors under the Notes, this Second Supplemental Indenture, the Note Guarantees, the security documents or for any claim based on, in respect of, or by reason
of, such obligations or their creation. Each Holder of Notes by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes. The waiver may not be effective to waive
liabilities under the federal securities laws. 
 Section 2.3 NEW YORK LAW TO GOVERN. THE INTERNAL LAW OF THE STATE OF NEW YORK SHALL
GOVERN AND BE USED TO CONSTRUE THIS SECOND SUPPLEMENTAL INDENTURE WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY. 

Section 2.4 COUNTERPARTS. This Second Supplemental Indenture may be executed in two or more counterparts, each of which shall be deemed
to be an original and all of which together shall constitute one and the same agreement. The exchange of copies of this Second Supplemental Indenture and of signature pages by facsimile or PDF transmission shall constitute effective execution and
delivery of this Second Supplemental Indenture as to the parties hereto and may be used in lieu of the original Indenture and signature pages for all purposes. 

Section 2.5 EFFECT OF HEADINGS. The Section headings herein are for convenience only and shall not affect the construction hereof. 

Section 2.6 THE TRUSTEE. The Trustee accepts the amendments of the Indenture effected by this Second Supplemental Indenture, but on the
terms and conditions set forth in the Indenture, including the terms and provisions defining and limiting the liabilities and responsibilities of the Trustee. Without limiting the generality of the foregoing, the Trustee shall not be responsible in
any manner whatsoever for or with respect to any of the recitals or statements contained herein, all of which recitals or statements are made solely by the Company, or for or with respect to (i) the validity or sufficiency of this Second
Supplemental Indenture or any of the terms or provisions hereof, (ii) the proper authorization hereof by the Company by action or otherwise, (iii) the due execution hereof by the Company or (iv) the consequences of any amendment
herein provided for, and the Trustee makes no representation with respect to any such matters. 
 Section 2.7 SEVERABILITY. In
case any provisions in this Second Supplemental Indenture shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

Section 2.8 EFFECTIVENESS. The provisions of this Second Supplemental Indenture shall be effective only upon execution and delivery of
this instrument by the parties hereto and the satisfaction of all conditions to such effectiveness set forth in the Indenture. Notwithstanding the foregoing sentence, the provisions of this Second Supplemental Indenture shall become operative only
upon the satisfaction or waiver of all conditions to the Consent Solicitation, with the result that the amendments to the Indenture effected by this Second Supplemental Indenture shall be deemed to be revoked retroactive to the date hereof if all
such conditions to the Consent Solicitation are not satisfied or waived. The Company shall notify the Trustee promptly after the satisfaction or waiver of all conditions to the Consent Solicitation or after the Company shall determine that the
conditions will not be satisfied or waived. 
 [Signature Pages Follow] 

 IN WITNESS WHEREOF, the parties hereto have caused this Second Supplemental Indenture to be duly
executed and attested, all as of the date first written above. 
  

			
	COMPANY:
	
	CARMIKE CINEMAS, INC.
		
	By:	 	/s/ Daniel E. Ellis
	Name:	 	Daniel E. Ellis
	Title:	 	Senior Vice President, General Counsel and Secretary

  

 
			
	GUARANTORS:
	
	 EASTWYNN THEATRES, INC.
 GEORGE G.
KERASOTES CORPORATION
 GKC INDIANA THEATRES, INC.
 GKC MICHIGAN
THEATRES, INC.
 GKC THEATRES, INC.
 MILITARY SERVICES, INC.

DIGITAL CINEMA DESTINATIONS CORP.

		
	By:	 	/s/ Daniel E. Ellis
	Name:	 	Daniel E. Ellis
	Title:	 	Senior Vice President, General Counsel and Secretary
	
	CARMIKE GIFTCO, INC.
		
	By:	 	/s/ Greg Wiggins
	Name:	 	Greg Wiggins
	Title:	 	President and Chief Executive Officer
	
	OCM SD CINEMA HOLDINGS, INC.
		
	By:	 	/s/ Daniel E. Ellis
	Name:	 	Daniel E. Ellis
	Title:	 	President

 
			
	 SETH CHILDS 12 OF KANSAS L.L.C.

CARMIKE CONCESSIONS, LLC
 CARMIKE CONCESSIONS II, LLC

DC APPLE VALLEY CINEMA, LLC
 DC BLOOMFIELD CINEMA, LLC

DC CHURCHVILLE CINEMA, LLC
 DC CINEMA CENTERS, LLC

DC CRANFORD CINEMA, LLC
 DC LANSING CINEMA, LLC

DC LISBON CINEMA, LLC
 DC LONDONDERRY CINEMA, LLC

DC MECHANICSBURG CINEMA, LLC
 DC MISSION MARKETPLACE CINEMA,
LLC
 DC NEW SMYRNA BEACH CINEMA, LLC
 DC PIGEON FORGE, LLC

DC POWAY CINEMA, LLC
 DC RIVER VILLAGE CINEMA, LLC

DC SARVER CINEMA, LLC
 DC SOLON CINEMA, LLC

DC SPARTA CINEMA, LLC
 DC SURPRISE CINEMA, LLC

DC TEMECULA CINEMA, LLC
 DC TORRINGTON CINEMA, LLC

DC WESTFIELD CINEMA, LLC
 START MEDIA/DIGIPLEX, LLC

OCM SD CINEMA HOLDINGS, LLC
 SUNDANCE CINEMAS, LLC

		
	By:	 	/s/ Daniel E. Ellis
	Name:	 	Daniel E. Ellis
	Title:	 	Manager
	
	CARMIKE REVIEWS HOLDINGS, LLC
		
	By:	 	 CARMIKE CINEMAS, INC.
 its sole
member

		
	By:	 	/s/ Daniel E. Ellis
	Name:	 	Daniel E. Ellis
	Title:	 	Senior Vice President, General Counsel and Secretary

 
			
	 CARMIKE MOTION PICTURES BIRMINGHAM II, LLC

CARMIKE MOTION PICTURES BIRMINGHAM III, LLC
 CARMIKE MOTION
PICTURES CHATTANOOGA, LLC
 CARMIKE MOTION PICTURES DAPHNE, LLC

CARMIKE MOTION PICTURES PENSACOLA, LLC
 CARMIKE MOTION PICTURES
PENSACOLA II, LLC
 CARMIKE MOTION PICTURES INDIANAPOLIS, LLC

CARMIKE MOTION PICTURES HUNTSVILLE, LLC
 CARMIKE MOTION PICTURES
FT. WAYNE, LLC
 CARMIKE MOTION PICTURES MELBOURNE, LLC
 CARMIKE
MOTION PICTURES PORT ST. LUCIE, LLC
 CARMIKE MOTION PICTURES ORANGE BEACH, LLC

CARMIKE MOTION PICTURES ALLENTOWN, LLC

		
	By:	 	 EASTWYNN THEATRES, INC.
 its sole
member

		
	By:	 	/s/ Daniel E. Ellis
	Name:	 	Daniel E. Ellis
	Title:	 	Senior Vice President, General Counsel and Secretary
	
	 CARMIKE MOTION PICTURES BIRMINGHAM, LLC

CARMIKE MOTION PICTURES PEORIA, LLC

		
	By:	 	 CARMIKE REVIEWS HOLDINGS, LLC
 its sole
member

		
	By:	 	/s/ Daniel E. Ellis
	Name:	 	Daniel E. Ellis
	Title:	 	Senior Vice President, General Counsel and Secretary

 
			
	TRUSTEE:
	
	WELLS FARGO BANK, NATIONAL ASSOCIATION
		
	By:	 	/s/ Stefan Victory
	Name:	 	Stefan Victory
	Title:	 	Vice PresidentFiled by Avantafile.com - The Pulse Beverage Corporation - Exhibit 10.12

 

 

 

AMENDMENT
  NO. 1

TO

SENIOR
SECURED REVOLVING CREDIT FACILITY AGREEMENT

IN THE AMOUNT OF US$3,500,000

BY
AND AMONG

THE
PULSE BEVERAGE CORPORATION,

as Borrower,

AND

TCA
GLOBAL CREDIT MASTER FUND, LP,

as Lender

March [●], 2016

 

 

 

AMENDMENT NO. 1 TO
SENIOR SECURED
REVOLVING CREDIT FACILITY AGREEMENT

THIS AMENDMENT NO. 1 TO SENIOR SECURED REVOLVING CREDIT
FACILITY AGREEMENT (this “Amendment”) is dated and effective as
of March [●], 2016 (the “Effective Date”), by and among (i) THE
PULSE BEVERAGE CORPORATION, a corporation incorporated under the laws of
the State of Nevada (the “Borrower”), (ii) any Person to
hereafter become a Subsidiary of the Borrower pursuant to Section 10.18 of
the Credit Agreement, and any Person that from time to time may hereafter
become liable for the Obligations, or any part thereof, as joint and several
guarantors (together, jointly and severally, the “Guarantors” and
together with the Borrower, the “Credit Parties”) and (iii) TCA
GLOBAL CREDIT MASTER FUND, LP, a limited partnership organized and existing
under the laws of the Cayman Islands, as lender (the “Lender”).

W I T N E S S
E T H 

WHEREAS, the Borrower and Lender have entered into that
certain Senior Secured Revolving Credit Facility Agreement, dated as of July
31, 2015 and made effective as of November 6, 2015 (the “Credit Agreement”),
pursuant to which the Lender agreed to make available to the Borrower a secured
revolving loan in the amount of up to Three Million Five Hundred Thousand
United States Dollars (US$3,500,000), subject to the terms and conditions
therein contained, and of this amount, the Lender made an initial principal
advance of Nine Hundred Thousand and No/100 United States Dollars (US$900,000)
to the Borrower;

WHEREAS,
as of the date hereof, a total aggregate principal amount of Nine Hundred
Thousand and No/100 United States Dollars (US$900,000) of principal plus
applicable interest and fees are outstanding; 

WHEREAS, in connection with this Amendment, the Borrower
has requested and the Lender has agreed to advance an additional principal
amount of One Million and No/100 United States Dollars (US$1,000,000) to the
Borrower for working capital financing for Borrower and for any other purposes
permitted under the Credit Agreement, as amended hereby, and of such additional
principal amount, Five Hundred Thousand and No/100 United States Dollars (US$500,000)
shall be reserved by the Lender until such time as Lender shall determine in
its sole and absolute discretion;

WHEREAS, the parties to this Amendment desire to amend the
Credit Agreement (as amended hereby, the “Amended Credit Agreement”),
as set forth herein.

NOW, THEREFORE, in consideration of the premises set forth
above, the covenants and agreements hereinafter set forth, and other good and
valuable consideration, the receipt and adequacy of which are hereby
acknowledged, the parties hereto agree as follows:

1.                 
Defined Terms.  Unless otherwise defined herein, the
capitalized terms used herein shall have the meanings assigned to such terms in
the Credit Agreement.

2.                 
Amendment of the Credit Agreement.  Subject to the terms
and conditions of this Amendment, the Credit Agreement is hereby amended and
supplemented as follows:

2

(a)               
all references to the “Senior Secured Revolving Credit Facility
Agreement” or the “Agreement” contained in the Credit Agreement shall be deemed
to refer to the Credit Agreement as further amended hereby;

(b)              
all reference to “Loan Documents” contained in the Credit Agreement
shall be deemed to include, without limitation, the Amended and Restated
Promissory Note (as defined herein);

(c)               
The definition of “Revolving Loan Commitment” shall be deleted in its
entirety and shall be replaced with the following:

	 	“Revolving Loan Commitment” shall mean One Million Nine Hundred Thousand and No/100 United States Dollars (US$1,900,000), and in the event Borrower requests and Lender agrees to increase the Revolving Loan Commitment pursuant to Section 2.1(b), such aggregate additional amount up to Three Million Five Hundred Thousand and No/100 United States Dollars (US$3,500,000).

3.                 
Issuance of Amended and Restated Promissory Note.  Subject
to the terms and conditions of this Amendment, the Borrower shall and does
hereby agree to issue to the Lender, simultaneously with the execution of this
Amendment, an original amended and restated senior secured revolving
convertible promissory note in the principal amount of One Million Nine Hundred
Thousand and No/100 United States Dollars (US$1,900,000), dated as of the
Effective Date, in the form attached hereto as Exhibit A (the “Amended
and Restated Promissory Note”).  The Lender shall advance Five Hundred
Thousand and No/100 United States Dollars (US$500,000) to the Borrower on the
closing date contemplated in connection herewith and the Lender shall reserve
Five Hundred Thousand and No/100 United States Dollars (US$500,000) until such
later time as Lender shall determine in its sole and absolute discretion.

4.                 
Cancellation of Existing Promissory Note.  By the Credit
Parties’ execution and delivery to the Lender of the Amended and Restated
Promissory Note, that certain Senior Secured Revolving Convertible Promissory
Note originally issued by the Borrower in favor of the Lender, dated as of July
31, 2015 and made effective as of November 6, 2015, in the original principal
amount of Nine Hundred Thousand and No/100 United States Dollars (US$900,000)
shall be hereby immediately and irrevocably cancelled without further action on
the part of the Lender or the Borrower.  It is the intention
of the parties that while the
Amended and Restated Promissory Note
amends, restates, replaces
and supersedes the existing
promissory note, in its entirety, the
issuance of the Amended and Restated Promissory Note is not in payment or satisfaction of the existing promissory note, but rather is the substitute
of one evidence of debt for
another without any intent to extinguish the existing debt.

5.                 
Representations and Warranties of the Credit Parties.  The
Credit Parties represent and warrant to the Lender that immediately after
giving effect to this Amendment, the representations and warranties of the Credit
Parties a set forth in the Credit Agreement, as amended hereby, are true and
correct in all material respects and no Default or Event of Default shall have
occurred and be continuing.  

6.                 
Security Interest Confirmation.  The Credit Parties each hereby
represent, warrant and covenant that (i)
the Lender’s security interests in all of the “Collateral” (as such

3

term is defined in each Security Agreement
executed by each
of the Credit Parties in connection with the Credit Agreement) are and remain valid,
perfected, security interests
in such Collateral, (ii) the additional principal amount advanced
by the Lender in connection with this Amendment and any and all additional
obligations incurred by the Credit Parties in connection therewith constitute
Obligations (as defined in the Credit Agreement) and such additional principal
amount and additional obligations are each secured by Lender’s security interests in all of the Collateral, and (iii) the Credit Parties have
not granted any other encumbrances
or security interests
of any nature or kind in
favor of any other Person affecting any of such Collateral,
other than Permitted Liens.

7.                 
Ratification. The Credit Parties hereby acknowledge,
represent, warrant and confirm to Lender that: (i) each of the Loan Documents executed
by the Credit Parties are valid and binding obligations of the Credit Parties,
enforceable thereagainst in accordance with their respective terms; (ii) all
obligations of the Credit Parties under all the Loan Documents are, shall be
and continue to be secured by and under the Security Agreements, the Guaranty
Agreements, the UCC Financing Statements, and all other Loan Documents;
(iii) there are no defenses, setoffs, counterclaims, cross-actions or equities
in favor of the Credit Parties to or against the enforcement of any of the Loan
Documents, and to the extent the Credit Parties have any defenses, setoffs,
counterclaims, cross-actions or equities against the Lender and/or against the
enforceability of any of the Loan Documents, the Credit Parties acknowledge and
agree that same are hereby fully and unconditionally waived by the Credit
Parties; and (iv) no oral representations, statements, or inducements have been
made by Lender or any agents or representatives of the Lender with respect to
any of the Loan Documents.

8.                 
No Defaults.  Each Credit Party hereby represents and
warrants that as of the date hereof there exists no Event of Default or any
condition which, with the giving of notice or passage of time, or both, would
constitute an Event of Default.  The Lender hereby acknowledges and agrees
that, to its knowledge, as of the date hereof there exists no Event of Default.

9.                 
Covenants.  Each Credit Party hereby reaffirms that it has
duly performed and observed the covenants and undertakings set forth in the
Credit Agreement and each Loan Document, and covenants and undertakes to
continue to duly perform and observe such covenants and undertakings, as
amended hereby, so long as the Credit Agreement, as amended hereby, shall
remain in effect.

10.             
No Other Amendment.  All other terms and conditions of the
Credit Agreement shall remain in full force and effect and the Credit Agreement
shall be read and construed as if the terms of this Amendment were included
therein by way of addition or substitution, as the case may be.

11.             
Second Tranche Advisory Fee Shares.  

(a)               
The Borrower hereby agrees to pay to the Lender, on the date hereof, a
fee for advisory services provided by the Lender to the Borrower prior to the
Effective Date by issuing to the Lender two hundred percent (200%) of that
number of shares of the Borrower’s Common Stock equal to a dollar amount of
Three Hundred Fifty Thousand and No/100 United States Dollars (US$350,000) (the
“Second Tranche Advisory Fee”).  It is agreed that the number of
shares of Common Stock issuable to Lender under this section shall be [●] (the 

4

“Second Tranche Advisory Fee Shares”).  The Borrower shall issue
certificates representing the Second Tranche Advisory Fee Shares immediately
upon the Borrower’s execution of this Amendment.  In the event such
certificates representing the Second Tranche Advisory Fee Shares issuable
hereunder shall not be delivered to the Lender within five (5) Business Days of
the Effective Date, the Borrower shall be in immediate default under this
Amendment, the Credit Agreement and the Loan Documents.  The Second Tranche
Advisory Fee Shares, when issued, shall be deemed to be validly issued, fully
paid, and non-assessable shares of the Borrower’s Common Stock.  The Second
Tranche Advisory Fee Shares are and shall be deemed fully earned in connection
with the advisory services provided by the Lender to the Borrower as of the
date hereof.  

(b)              
Adjustment to Second Tranche Advisory Fee Shares.  It is the
intention of the Borrower and Lender that the Lender shall generate net
proceeds from the sale of the Second Tranche Advisory Fee Shares equal to the Second
Tranche Advisory Fee. The Lender shall have the right (but not an obligation)
to sell the Second Tranche Advisory Fee Shares in the Principal Trading Market
or otherwise, at any time in accordance with applicable securities laws,
subject to the limitation that its weekly sales of the Second Tranche Advisory
Fee Shares shall not exceed twenty-five percent (25%) of the average weekly
volume for the Borrower’s Common Stock.  At any time the Lender may elect, the
Lender may deliver to the Borrower a reconciliation statement showing the net
proceeds actually received by the Lender from the sale of the Second Tranche
Advisory Fee Shares (the “Sale Reconciliation”).  If, as of the
date of the delivery by Lender of the Sale Reconciliation, the Lender has not
realized net proceeds from the sale of such Second Tranche Advisory Fee Shares equal
to at least the Second Tranche Advisory Fee, as shown on the Sale
Reconciliation, then the Borrower shall immediately take all required action
necessary or required in order to cause the issuance of additional shares of
Common Stock, in the Lender’s sole discretion, to the Lender in an amount
sufficient such that, when sold and the net proceeds thereof are added to the
net proceeds from the sale of any of the previously issued and sold Second
Tranche Advisory Fee Shares, the Lender shall have received total net funds
equal to the Second Tranche Advisory Fee.  If additional shares of Common Stock
are issued pursuant to the immediately preceding sentence, and after the sale
of such additional issued shares of Common Stock, the Lender still has not
received net proceeds equal to at least the Second Tranche Advisory Fee, then
the Borrower shall again be required to immediately take all required action
necessary or required in order to cause the issuance of additional shares of
Common Stock, in the Lender’s sole discretion, to the Lender as contemplated
above, and such additional issuances shall continue until the Lender has
received net proceeds from the sale of such Common Stock equal to the Second
Tranche Advisory Fee.  In the event the Lender receives net proceeds from the
sale of Second Tranche Advisory Fee Shares equal to the Second Tranche Advisory
Fee, and the Lender still has Second Tranche Advisory Fee Shares remaining to
be sold, the Lender shall return all such remaining Second Tranche Advisory Fee
Shares to the Borrower.  In the event additional Common Stock is required to be
issued as outlined above, the Borrower shall instruct its Transfer Agent to
issue certificates representing such additional shares of Common Stock to the
Lender immediately subsequent to the Lender’s notification to the Borrower that
additional shares of Common Stock are issuable hereunder, and the Borrower shall
in any event cause its Transfer Agent to deliver such certificates to Lender
within three (3) Business Days following the date Lender notifies the Borrower
that additional shares of Common Stock are to be issued hereunder.  In the
event such certificates representing such additional shares of Common Stock
issuable hereunder shall not be delivered to the Lender within said three (3)
Business Day period, same shall be an immediate default under this Agreement
and the Loan Documents.  Notwithstanding anything contained in this Section to
the 

5

contrary, at the time at which the Second Tranche Advisory Fee Shares become
unrestricted pursuant to applicable securities laws, the Borrower shall have
the right, at any time during such period, to redeem any Second Tranche
Advisory Fee Shares then in the Lender’s possession for an amount payable by
the Borrower to Lender in cash equal to the Second Tranche Advisory Fee, less
any net cash proceeds received by the Lender from any previous sales of Second
Tranche Advisory Fee Shares.  Upon Lender’s receipt of such cash payment in
accordance with the immediately preceding sentence, the Lender shall return any
then remaining Second Tranche Advisory Fee Shares in its possession back to the
Borrower and otherwise undertake any required actions reasonably requested by
Borrower to have such then remaining Second Tranche Advisory Fee Shares
returned to Borrower.  The Borrower’s obligation to pay the Second Tranche
Advisory Fee contemplated by this Section, whether in cash or thru the sale of
Second Tranche Advisory Fee Shares, shall be an Obligation hereunder, secured
by all Loan Documents, and failure by the Borrower to pay such Second Tranche
Advisory Fee in full as required by Section shall be an immediate Event of
Default hereunder and under the other Loan Documents.  

(c)               
Mandatory Redemption.  Notwithstanding anything contained herein
to the contrary, in the event that the Lender has not realized net proceeds
from the sale of Second Tranche Advisory Fee Shares equal to at least the Second
Tranche Advisory Fee by the earlier to occur of: (A) the twelve (12) month
anniversary of the Effective Date; (B) the occurrence of an Event of Default;
or (C) the Revolving Loan Maturity Date, then at any time thereafter, the
Lender shall have the right, upon written notice to the Borrower, to require
the Borrower to redeem all Second Tranche Advisory Fee Shares then in Lender’s
possession for cash equal to the Second Tranche Advisory Fee, less any cash
proceeds received by the Lender from any previous sales of Second Tranche
Advisory Fee Shares, if any.  In the event such redemption notice is given by
the Lender, the Borrower shall redeem the then remaining Second Tranche
Advisory Fee Shares in Lender’s possession for an amount of Dollars equal to
the Second Tranche Advisory Fee, less any cash proceeds received by the Lender
from any previous sales of Second Tranche Advisory Fee Shares, if any, payable
by wire transfer to an account designated by Lender within five (5) Business
Days from the date the Lender delivers such redemption notice to the Borrower.

(d)              
Piggyback Registration Rights.  In the event that the Borrower
files a registration statement with respect to its Common Stock with the SEC
(other than a registration statement on Form S-4 or S-8 or any successor form
thereto) after the Effective Date but before the Lender sells the Second
Tranche Advisory Fee Shares, the Second Tranche Advisory Fee Shares shall be
registered pursuant to such registration statement.  

12.             
Fees and Expenses.  The Borrower agrees to pay to the
Lender, upon the execution hereof, (i) a transaction advisory fee equal to Twenty
Thousand United States Dollars (US$20,000), (ii) a legal fee equal to Seven
Thousand Five Hundred United States Dollars (US$7,500), (iii) a due diligence
fee equal to Five Thousand United States Dollars (US$5,000), (iv) an asset
monitoring fee equal to Two Thousand United States Dollars ($2,000), and (v) all
costs and expenses of the Lender and Lender's counsel in connection with the
preparation and execution of this Amendment and the Fee Notes and the review of
all other documentation in connection herewith and therewith, which such amount
shall be offset against the Escrow Release Amount and paid on the Effective
Date.

6

13.             
Conditions Precedent.  The effectiveness of this Amendment
and the obligation that the Lender to advance the additional principal amounts
provided herein shall be expressly subject to the following conditions
precedent:

(a)               
Amendment.  Each Credit Party shall have executed and delivered
to the Lender two original copies of this Amendment; 

(b)              
Amended and Restated Promissory Note.  Each Credit Party shall
have executed and delivered to the Lender an original copy of the Amended and
Restated Promissory Note in the principal amount of One Million Nine Hundred
Thousand and No/100 United States Dollars (US$1,900,000), dated as of the Effective
Date;

(c)               
Use of Proceeds Confirmation.  The Borrower shall have executed
and delivered to the Lender an original copy of a Use of Proceeds Confirmation,
including a copy of the Borrower’s twelve (12) month financial projections
attached as an exhibit thereto, dated as of the Effective Date, in the form
attached hereto as Exhibit B.

(d)              
Closing Statement.  The Borrower shall have executed and
delivered to the Lender a closing statement in form and substance satisfactory
to the Lender;

(e)               
Corporate Documents.  The Lender shall have received such
evidence as it may require as to the authority of the officers or
attorneys-in-fact executing this Amendment and such other corporate documents
it may request, including, but not limited to, approval of the board of directors
of each of the Credit Parties, resolutions of the shareholders of each Credit
Party, an officer’s certificate of each Credit Party, each in form and
substance satisfactory to the Lender in its sole discretion;

(f)               
Opinion of Counsel.  The Lender shall have received a customary
opinion of the Credit Parties’, in form and substance satisfactory to the
Lender in its sole discretion;

(g)              
Search Results.  The Lender shall have received copies of UCC
search reports, issued by the Secretary of State of the state of incorporation
of each Credit Party, dated such a date as is reasonably acceptable to Lender,
listing all effective financing statements which name the Credit Parties, under
their present name and any previous names, as debtors, together with copies of such
financing statements;

(h)              
Certificate of Good Standing.  The Lender shall have received
copies of certificates of good standing with respect to each Credit Party,
issued by the Secretary of State of the state of incorporation of each Credit
Party, dated such a date as is reasonably acceptable to Lender, evidencing the
good standing thereof;

(i)                
Fees Paid.  The Lender or its counsel shall have received payment
in full of all fees and expenses due under this Amendment; and

(j)                
No Event of Default; Representations and Warranties.  The Lender
shall be satisfied, and shall have received a certificate signed by a duly
authorized officer of each Credit Party, dated such a date as is reasonably
acceptable to Lender, that (i) no Event of Default or event which, with
the passage of time, giving of notice or both would become an Event of Default
have occurred and be continuing; and (ii) the representations and warranties of
the Borrower contained in the Credit Agreement, as amended and supplemented
hereby, shall be true

7

on and as of the Effective Date (except to the extent
such representation or warranty expressly relates to an earlier date).

14.             
Execution in Counterparts.  This Amendment may be executed in one or more counterparts, all of which taken together shall
be deemed and considered one and the same Amendment, and same shall become effective when counterparts have been signed by each party and each party has delivered its signed counterpart to the other party. In the event
that any signature is delivered by facsimile
transmission or by e-mail delivery of a “.pdf” format file or other similar format file, such signature shall be deemed an original for all purposes
and shall create a valid and binding obligation of the party executing same with the
same force and effect
as if such facsimile or “.pdf”
signature page was an original
thereof.

15.             
Authority and Approval of Agreement; Binding Effect.  The
execution and delivery by the Credit Parties of this Amendment, and the
documents executed and delivered in connection herewith,
and the performance by Credit Parties of all of its obligations
hereunder and thereunder, have been duly and validly authorized and approved by
the Credit Parties and its boards of directors pursuant to all applicable laws, and other than the corporate action or
resolutions delivered by the Credit Parties in connection with this Amendment, no other corporate action or consent on the part
of the Credit Parties, its board of
directors, stockholders or any other Person
is necessary or required by the Credit Parties to execute
this Amendment, and the documents executed
and delivered in connection herewith and therewith,
to consummate the transactions contemplated herein and therein, or
perform all of the Credit Parties’ obligations
hereunder and thereunder.  This Amendment, and each of the documents executed and delivered in
connection herewith and therewith, have been duly and validly executed by the
Credit Parties (and the officer executing this Amendment and all such other
documents is duly authorized to act and execute same on behalf of the Credit
Parties) and constitute the valid and legally binding agreements of the Credit
Parties, enforceable
against the Credit Parties in accordance with their respective terms.

16.             
Indemnification. The Credit Parties hereby indemnifies and holds the Lender
harmless from and against any and all claims payable by the Lender to any
Person, including reasonable attorneys' and paralegals' fees and expenses,
court costs, settlement amounts, costs of investigation and interest thereon
from the time such amounts are due at the highest non-usurious rate of interest
permitted by applicable law, through all negotiations, mediations,
arbitrations, trial and appellate levels, as a result of, or arising out of, or
relating to any matters relating to this Amendment, or any of the Loan
Documents. The foregoing indemnification obligations shall survive the
termination of any of the Loan Documents and repayment of the Revolving Note.

17.             
Release.  As a material inducement for Lender to enter into this
Amendment, the Credit Parties do hereby release, waive, discharge, covenants
not to sue, acquits, satisfies and forever discharges the Lender and its
respective successors and assigns, from any and all claims whatsoever in law or
in equity which the Credit Parties ever had, now has, or which any successor or
assign of the Credit Parties hereafter can, shall or may have against the
Lender, for, upon or by reason of any matter, cause or thing whatsoever related
to the this Amendment or any other Loan Documents, through the date hereof. The
Credit Parties further expressly agree that the foregoing release and waiver is
intended to be as broad and inclusive as permitted by the laws of the
jurisdiction governing the Loan Documents. In addition to, and without limiting
the generality of foregoing, the Credit Parties further covenant with and 

8

warrant unto the Lender, that there exist no claims, counterclaims, defenses,
objections, offsets or other claims against the Lender, or the obligation of
the Credit Parties to comply with the terms
and provisions of the Loan Documents. The foregoing release shall survive the
termination of any of the Loan Documents and repayment of the Revolving Note.

18.             
Lender’s Conduct. As of the date of this Amendment, the Credit
Parties hereby acknowledge and admit that: (i) the
Lender has acted in good faith and has fulfilled and fully performed all of its
obligations under or in connection with any of the Loan Documents; and (ii)
that there are no other promises, obligations, understandings or agreements
with respect to the Loan Documents, except as expressly set forth herein and
the other Loan Documents.

19.             
GOVERNING LAW.  EXCEPT IN THE CASE OF THE MANDATORY FORUM
SELECTION CLAUSE SET FORTH HEREIN, THIS AMENDMENT, THE CREDIT AGREEMENT, AS
AMENDED HEREBY, THE LOAN DOCUMENTS AND THE REVOLVING NOTE SHALL BE SHALL BE
CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEVADA
WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS OF LAWS.

20.             
MANDATORY FORUM SELECTION.  ANY DISPUTE ARISING UNDER,
RELATING TO, OR IN CONNECTION WITH THE AMENDMENT OR RELATED TO ANY MATTER WHICH
IS THE SUBJECT OF OR INCIDENTAL TO THE AMENDMENT (WHETHER OR NOT SUCH CLAIM IS
BASED UPON BREACH OF CONTRACT OR TORT) SHALL BE SUBJECT TO THE EXCLUSIVE
JURISDICTION AND VENUE OF THE STATE AND/OR FEDERAL COURTS LOCATED IN BROWARD
COUNTY, FLORIDA OR THE STATE AND/OR FEDERAL COURTS LOCATED IN CLARK COUNTY,
NEVADA (AS DETERMINED BY LENDER).  THIS PROVISION IS INTENDED TO BE A
“MANDATORY” FORUM SELECTION CLAUSE AND GOVERNED BY AND INTERPRETED CONSISTENT
WITH FLORIDA LAW OR NEVADA LAW, AS APPLICABLE.

21.             
Amendment Effective Date.  All references in any Loan
Document to the Credit Agreement on and after the date hereof shall be deemed
to refer to the Credit Agreement as amended hereby, and the parties hereto
agree that on and after the Effective Date, the Credit Agreement, as amended
hereby, is in full force and effect.

[signatures pages
follow]

9

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

BORROWER: 

THE PULSE BEVERAGE CORPORATION

By:      _____________________________
Name:  Robert E. Yates
Title:    Chief Executive Officer

	STATE OF ________________  	 )
	 	 ) 
      SS.
	COUNTY OF ______________ 	 )

The undersigned, a Notary Public in and for the
said County, in the State aforesaid, DO HEREBY CERTIFY that Robert E. Yates, Chief
Executive Officer of The Pulse Beverage Corporation, a Nevada corporation, who
is personally known to me to be the same person whose name is subscribed to the
foregoing, appeared before me this day in person and acknowledged that he/she
signed and delivered the said instrument as his/her own free and voluntary act
and as the free and voluntary act of said corporation, for the uses and
purposes therein set forth.

            GIVEN under my hand and notarial seal this _____
day of ________________, 20____.

	 	 ______________________________________

                                                       Notary
      Public

                              My
          Commission Expires:

      ______________________________________

10

LENDER:

TCA GLOBAL CREDIT MASTER FUND, LP

By:      TCA Global Credit Fund GP, Ltd.

Its:       General Partner

By:      ___________________________

Name:  Robert Press

Title:    Director

11

EXHIBIT
A

FORM
OF AMENDED AND RESTATED PROMISSORY NOTE

12

EXHIBIT
B

FORM
OF USE OF PROCEEDS CONFIRMATION

13

4836-7968-6703, v.  1-1588-6359, v.  1

14

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