Document:

EX-4.7

 Exhibit 4.7 

First Amendment to Securities Purchase Agreement 

This First Amendment (this “Amendment”), dated as of November 19, 2021 to the Securities Purchase Agreement, dated as of
December 16, 2019 (as amended, restated, supplemented or modified, the “Agreement”), is entered into among KLDiscovery Inc. (f/k/s Pivotal Acquisition Corp.), a Delaware corporation (the “Company”), and the Purchasers
identified on the signature pages hereto. Capitalized terms used and not defined in this Amendment shall have the meanings assigned to such terms in the Agreement. 

WHEREAS, Section 4.6(a) of the Agreement requires the Company to call and hold a meeting of its stockholders to vote on the Stockholder
Proposal to approve the issuance of shares of Common Stock in connection with the conversion of the Debentures into shares of Common Stock and the right of each Purchaser to purchase shares of Common Stock pursuant to Section 4.3 of the
Agreement (the “Stockholder Approval Requirement”); 
 WHEREAS, the Stockholder Approval Requirement is based on certain stock
exchange rules that require an issuer whose securities are listed on such exchange to obtain stockholder approval of certain issuances of the listed issuer’s securities; 

WHEREAS, the Common Stock of the Company is no longer listed on a stock exchange with such rules; 

WHEREAS, subject to Section 5.5. of the Agreement, the Agreement may be amended in a written instrument signed by the Company and the
Required Purchasers; and 
 WHEREAS, the undersigned Purchasers, which constitute the Required Purchasers, and the Company, desire to amend
the Agreement to amend the timing of which the Stock Approval Requirement is to be satisfied by the Company. 
 NOW, THEREFORE, IN
CONSIDERATION of the mutual covenants contained in this Agreement, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the Company and each of the undersigned Purchasers agree as follows: 

1.    The undersigned Purchasers waive any non-compliance by the Company prior to
the date of this Amendment with the requirement in Section 4.6(a) of the Agreement to call and hold a special meeting of the Company’s stockholders to vote on the Stockholder Proposal prior to the Meeting End Date. 

2.     Section 4.6(a) of the Agreement is amended in its entirety as follows (text is marked to show changes): 

 

	 	(a)	 Proxy Statement. If the Closing occurs, the Company shall call and hold a special meeting of its
stockholders, as promptly as reasonably practicable after the Closing, but no later than six months following the Closing Date (the “Meeting End Date”) At the earlier of: (i) the Company’s 2022 Annual
Meeting of Stockholders (to be held no later than June 30, 2022); or (ii) the first meeting of the Company’s stockholders called and held by the Company after the Common Stock is listed on the New York
Stock Exchange or the Nasdaq Stock Market, the Company shall ask its stockholders to vote on proposals (collectively, the 

	 	
“Stockholder Proposal”) to approve the issuance of shares of Common Stock in connection with the conversion of the Debentures into shares of Common Stock pursuant to Section 4 of
the Debentures and the right of each Purchaser to purchase shares of Common Stock pursuant to Section 4.3 hereof (“Stockholder Approval,” and the date on which such approval is obtained, the “Stockholder Approval Date”). The
board of directors shall recommend to the Company’s stockholders that such stockholders approve the Stockholder Proposal, and shall not modify or withdraw such resolution. In connection with such meeting, the Company shall promptly prepare (and
the Purchasers will reasonably cooperate with the Company to prepare) and file (but in no event more than 90 days following the Closing) with the SEC a preliminary proxy statement, shall use its reasonable best efforts to solicit
proxies for such stockholder approval and shall use its reasonable best efforts to respond to any comments of the SEC or its staff and to cause a definitive proxy statement related to such stockholders’ meeting to be mailed to the
Company’s stockholders as promptly as practicable after clearance by the SEC. If at any time prior to such stockholders’ meeting there shall occur any event that is required to be set forth in an amendment or supplement to the proxy
statement, the Company shall as promptly as practicable prepare and mail to its stockholders such an amendment or supplement. The Company agrees that each proxy statement referred to in this Section 4.6 shall comply as to form in all material
respects with the requirements of the Exchange Act and the rules and regulations promulgated thereunder and that none of the information included or incorporated by reference in any such proxy statement will, at the date it is filed with the SEC or
mailed to the stockholders of the Company or at the time of the stockholders’ meeting, or at the time of any amendment or supplement thereof, contain any untrue statement of a material fact or omit to state any material fact required to be
stated therein or necessary in order to make the statements therein, in light of the circumstances under which they are made, not misleading, except for statements made in such proxy statement based exclusively on information supplied in writing by
or on behalf of the Purchasers specifically and explicitly for inclusion or incorporation by reference therein. Each of the Purchasers and the Company agrees promptly to correct any information provided by it or on its behalf for use in the proxy
statement if and to the extent that such information shall have become false or misleading in any material respect, and the Company shall as promptly as practicable prepare and mail to its stockholders an amendment or supplement to correct such
information to the extent required by applicable laws and regulations. The Company shall consult with the Purchasers prior to mailing any proxy statement, or any amendment or supplement thereto, and provide the Purchasers with a reasonable
opportunity to comment thereon. The Company shall promptly notify the Purchasers upon the receipt of any comments from the SEC or its staff or any request from the SEC or its staff for amendments or supplements to any proxy statement and shall
provide the Purchasers with copies of all correspondence between it and its representatives, on the one hand, and the SEC, on the other hand. The directors’ recommendation described in this Section 4.6 shall be included in the proxy
statement filed in connection with obtaining such stockholder approval. In the event that the approval of the Stockholder Proposal is not obtained at such special stockholders’ meeting, the Company shall include a proposal to
approve (and, the board of directors shall recommend 

  
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approval of) such Stockholder Proposal at a meeting of its stockholders (which may be an annual meeting) no less than once in each six-month period
beginning on the Meeting End Date date of such stockholders’ meeting until such approval is obtained or made, and the other applicable provisions of this Section 4.6 shall apply with respect to seeking such
Stockholder Proposal. 

 3.    All other terms of the Agreement remain unchanged. 

4.    The Company hereby represents and warrants to the Purchasers: 

(a) Immediately prior to giving effect to this Amendment, no Event of Default has occurred and is continuing. After giving effect to this
Amendment, no Event of Default and no event which, with the passage of time or the giving of notice, or both, would become an Event of Default, has occurred and is continuing. 

(b) The execution and delivery of this Amendment, and the performance by the Company of the terms and provisions of this Amendment and the
Agreement, as amended by this Amendment, have been duly authorized by all requisite corporate action and will not violate any provision of law, any order of any court or other agency of government, the corporate charter, articles of incorporation or
by-laws of the Company or any indenture, agreement or other instrument to which it is a party, or by which it is bound, or be in conflict with, result in a breach of, or constitute (with due notice or lapse of
time or both) a default under any such indenture, agreement or other instrument. 
 (c) This Amendment has been duly executed, delivered and
enforced by the Company and constitutes a legal, valid and binding obligation of the Company, enforceable in accordance with its terms, subject to bankruptcy, insolvency, reorganization and other similar laws of general application affecting the
rights of creditors generally. 
 5.    Except as expressly herein amended, the terms and conditions of the Agreement
and the other Transaction Documents shall remain in full force and effect. The Company acknowledges and agrees that, except as expressly set forth herein, the Purchasers shall not waive or shall be deemed to have waived any of their respective
rights or remedies under the Agreement or any of the other Transaction Documents which documents shall remain in full force and effect in accordance with their terms. 

6.    All questions concerning the construction, validity, enforcement and interpretation of this Amendment shall be
governed by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles of conflict of laws thereof. 

7.    This Amendment may be executed in two or more counterparts, all of which when taken together shall be considered one
and the same agreement and shall become effective when counterparts have been signed by each party and delivered to each other party, it being understood that the parties need not sign the same counterpart. In the event that any signature is
delivered by facsimile transmission or by e-mail delivery of a “.pdf” format data file, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such
signature is executed) with the same force and effect as if such facsimile or “.pdf” signature page were an original thereof. 

  
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 8.    If any provision of this Amendment is invalid, illegal or
unenforceable, the balance of this Agreement shall remain in effect, and if any provision is inapplicable to any Person or circumstance, it shall nevertheless remain applicable to all other Persons and circumstances. 

[Signature Pages Follow.] 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by their respective
authorized signatories as of the date first indicated above. 
 Company: 

KLDISCOVERY INC. 
 By:_/s/ Andrew Southam 

Name:     Andrew Southam 

Title:       General Counsel 

Purchasers: 
 1397225 ONTARIO LIMITED 

By:_ /s/ Christopher Witkowski 

Name:     Christopher Witkowski 

Title:       Authorized Signatory 

MGG SPECIALTY FINANCE FUND II LP 
 MGG SF EVERGREEN FUND LP 

MGG SF DRAWDOWN UNLEVERED FUND II LP 
 MGG SF EVERGREEN UNLEVERED
FUND LP 
 MGG INSURANCE FUND SERIES OF INTERESTS IN SALI MULTI-SERIES FUND, LP 

MGG SF EVERGREEN MASTER FUND (CAYMAN) LP 
 MGG SF EVERGREEN
UNLEVERED MASTER FUND II (CAYMAN) LP 
 MGG SF DRAWDOWN MASTER FUND 

(CAYMAN) LP 
 MGG SF DRAWDOWN UNLEVERED MASTER FUND II (CAYMAN) LP

 MGG CANADA FUND LP 
 MGG SF DRAWDOWN UNLEVERED FUND II
(LUXEMBOURG) SCSp 
 By:    MGG Investment Group LP, on behalf of each of the above, as Authorized Signatory 

By: /s/ Kevin Griffin 

Name:     Kevin Griffin 

Title:       Chief Executive Officer and Chief Investment Officer 

MANULIFE INVESTMENT MANAGEMENT LIMITED, as investment advisor on behalf of: 

TCDIVMTE: MANULIFE DIVIDEND INCOME FUND 
 TUMHIMTE: MANULIFE U.S.
MONTHLY HIGH INCOME FUND 
 TUDIVMTE: MANULIFE U.S. DIVIDEND INCOME FUND 

TCDIVPIE: MANULIFE DIVIDEND INCOME CLASS 
 TCDIVRSB: MANULIFE
DIVIDEND INCOME SEG FUND 
 By: /s/ Jonathan Popper  

Name:     Jonathan Popper 

Title:       Authorized Signatoryex_309576.htm

Exhibit 4.6

 

FIFTH AMENDMENT AND MODIFICATION 

TO AMENDED AND RESTATED LOAN AGREEMENT

 

THIS FIFTH AMENDMENT AND MODIFICATION TO AMENDED AND RESTATED LOAN AGREEMENT (the “Amendment”) is made effective as of the 16th day of November, 2021, by and among J & J SNACK FOODS CORP. (“Parent”), the subsidiaries of Parent party hereto and listed on the signature page to this Amendment (the “Subsidiary Borrowers”; together with Parent, each, a “Borrower” and, collectively, the “Borrowers”), the banks party hereto and listed on the signature page to this Amendment (the “Banks”) and CITIZENS BANK, N.A. (as successor by merger to Citizens Bank of Pennsylvania), as sole administrative agent and arranger for the Banks (the “Agent”).

 

BACKGROUND

 

A.    Pursuant to that certain Amended and Restated Loan Agreement dated December 1, 2006, by and among Borrowers, Banks and Agent (as amended by that certain First Amendment and Modification to Amended and Restated Loan Agreement dated as of November 22, 2011, that certain Waiver and Second Amendment and Modification to Amended and Restated Loan Agreement dated as of April 6, 2014, that certain Third Amendment and Modification to Amended and Restated Loan Agreement dated as of October 22, 2015, that certain Fourth Amendment and Modification to Amended and Restated Loan Agreement dated as of November 16, 2016, and as the same may hereafter be further amended, modified, supplemented or restated from time to time, being referred to herein as the “Loan Agreement”), Banks agreed, inter alia, to extend to Borrowers a revolving credit facility in the maximum amount of up to Fifty Million Dollars ($50,000,000.00).

 

B.    Borrowers have requested and Banks and Agent have agreed to amend the Loan Agreement to extend the Commitment Termination Date until December 16, 2021.

 

C.    All capitalized terms contained herein and not otherwise defined herein shall have the meanings set forth in the Loan Agreement.

 

NOW, THEREFORE, intending to be legally bound hereby, the parties hereto agree as follows:

 

1.    Amended Defined Term. The defined term “Commitment Termination Date”, set forth in Article I of the Loan Agreement is hereby deleted in its entirety and replaced with the following:

 

“Commitment Termination Date: December 16, 2021, subject to earlier termination as provided in this Agreement.”

 

2.    Amendment/References. The Loan Agreement and the Loan Documents are hereby amended to be consistent with the terms of this Amendment. All references in the Loan Agreement and the Loan Documents to (a) the “Loan Agreement” shall mean the Loan Agreement as amended hereby; and (b) the “Loan Documents” shall include this Amendment and all other instruments or agreements executed pursuant to or in connection with the terms hereof.

 

 

 

 

3.    Release. Each Borrower acknowledges and agrees that it has no claims, suits or causes of action against Agent or any Bank and hereby revises, releases and forever discharges Agent, each Bank, and their respective officers, directors, shareholders, employees, agents, successors and assigns, and any of them, from any claims, suits or causes of action whatsoever, in law or at equity, which such Borrower has or may have arising from any act, omission or otherwise, at any time up to and including the date of this Amendment.

 

4.    Additional Documents; Further Assurances. Each Borrower covenants and agrees to execute and deliver to Agent, or to cause to be executed and delivered to Agent contemporaneously herewith, at the sole cost and expense of Borrowers, the Amendment and any and all documents, agreements, statements, resolutions, searches, insurance policies, consents, certificates, legal opinions and information as Agent may require in connection with the execution and delivery of this Amendment or any documents in connection herewith, or to further evidence, effect, enforce or protect any of the terms hereof or the rights or remedies granted or intended to be granted to Agent herein or in any of the Loan Documents, or to enforce or to protect Agent’s interest in the Collateral. All such documents, agreements, statements, etc., shall be in form and content acceptable to Agent in its sole discretion. Each Borrower hereby authorizes Agent to file, at Borrowers’ cost and expense, financing statements, amendments thereto and other items as Agent may require to evidence or perfect Agent’s continuing security interest and liens in and against the Collateral. Each Borrower agrees to join with Agent in notifying any third party with possession of any Collateral of Agent’s security interest therein and in obtaining an acknowledgment from the third party that it is holding the Collateral for the benefit of Agent. Borrowers will cooperate with Agent in obtaining control with respect to Collateral consisting of deposit accounts, investment property, letter-of-credit rights and electronic chattel paper.

 

5.    Further Agreements and Representations. Each Borrower does hereby:

 

(a)    ratify, confirm and acknowledge that the statements contained in the foregoing Background are true and complete and that, as amended hereby, the Loan Agreement and the other Loan Documents are in full force and effect and are valid, binding and enforceable against such Borrower and its assets and properties, all in accordance with the terms thereof, as amended;

 

(b)    covenant and agree to perform all of such Borrower’s obligations under the Loan Agreement and the other Loan Documents, as amended;

 

(c)    acknowledge and agree that as of the date hereof, such Borrower has no defense, set-off, counterclaim or challenge against the payment of any Obligations or the enforcement of any of the terms of the Loan Agreement or of the other Loan Documents, as amended;

 

(d)    acknowledge and agree that all representations and warranties of such Borrower contained in the Loan Agreement and/or the other Loan Documents, as amended, are true, accurate and correct on and as of the date hereof as if made on and as of the date hereof;

 

(e)    represent and warrant that no Default or Event of Default exists;

 

2

 

 

(f)    covenant and agree that such Borrower’s failure to comply with any of the terms of this Amendment or any other instrument or agreement executed or delivered in connection herewith, shall constitute an Event of Default under the Loan Agreement and each of the other Loan Documents; and

 

(g)    acknowledge and agree that nothing contained herein, and no actions taken pursuant to the terms hereof, are intended to constitute a novation of any of the Notes, the Loan Agreement or of any of the other Loan Documents and does not constitute a release, termination or waiver of any existing Event of Default or of any of the liens, security interests, rights or remedies granted to the Agent in any of the Loan Documents, which liens, security interests, rights and remedies are hereby expressly ratified, confirmed, extended and continued as security for all Obligations.

 

Each Borrower acknowledges and agrees that Agent and the Banks are relying on the foregoing agreements, confirmations, representations and warranties of such Borrower and the other agreements, representations and warranties of such Borrower contained herein in agreeing to the amendments contained in this Amendment.

 

6.    Fees Cost, Expenses and Expenditures. Borrowers will pay all of Agent’s expenses in connection with the review, preparation, negotiation, documentation and closing of this Amendment and the consummation of the transactions contemplated hereunder, including without limitation, fees, disbursements, expenses and disbursements of counsel retained by Agent and all fees related to filings, recording of documents, searches, environmental assessments and appraisal reports, whether or not the transactions contemplated hereunder are consummated.

 

7.    No Waiver. Nothing contained herein constitutes an agreement or obligation by Agent to grant any further amendments to the Loan Agreement or any of the other Loan Documents. Nothing contained herein constitutes a waiver or release by Agent of any Event of Default or of any rights or remedies available to Agent under the Loan Documents or at law or in equity.

 

8.    Inconsistencies. To the extent of any inconsistencies between the terms and conditions of this Amendment and the terms and conditions of the Loan Agreement or the other Loan Documents, the terms and conditions of this Amendment shall prevail. All terms and conditions of the Loan Agreement and other Loan Documents not inconsistent herewith shall remain in full force and effect and are hereby ratified and confirmed by Borrowers.

 

9.    Binding Effect. This Amendment, upon due execution hereof, shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.

 

10.    Governing Law. This Amendment shall be governed and construed in accordance with the laws of the Commonwealth of Pennsylvania without regard to conflict of law principles.

 

11.    Severability. The provisions of this Amendment and all other Loan Documents are deemed to be severable, and the invalidity or unenforceability of any provision shall not affect or impair the remaining provisions which shall continue in full force and effect.

 

3

 

 

12.    Modifications. No modification of this Amendment or any of the Loan Documents shall be binding or enforceable unless in writing and signed by or on behalf of the party against whom enforcement is sought.

 

13.    Headings. The headings of the Articles, Sections, paragraphs and clauses of this Amendment are inserted for convenience only and shall not be deemed to constitute a part of this Amendment.

 

14.    Counterparts. This Amendment may be executed in multiple counterparts, each of which shall constitute an original and all of which together shall constitute the same agreement.

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 

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IN WITNESS WHEREOF, the parties hereto, intending to be legally bound hereby, have caused this Amendment to be executed the day and year first above written.

 

PARENT:

 

J & J SNACK FOODS CORP.

 

By:                 /s/ Ken A. Plunk                                                       

Name:         Ken A. Plunk

Title:           Chief Financial Officer

 

SUBSIDIARY BORROWERS:

 

BAKERS BEST SNACK FOODS CORP.

THE ICEE COMPANY

J & J RESTAURANT GROUP, L.L.C.

J & J SNACK FOODS SALES CORP.

J & J SNACK FOODS CORP. OF PENNSYLVANIA

J & J SNACK FOODS TRANSPORT CORP.

J & J SNACK FOODS CORP. OF CALIFORNIA

J & J SNACK FOODS INVESTMENT CORP.

J & J SNACK FOODS CORP./MIA

COUNTRY HOME BAKERS, INC.

PRETZELS, INC.

FEDERAL PRETZEL BAKING COMPANY, L.L.C.

ICEE OF HAWAII, INC.

DADDY RAY’S, INC.

HOM/ADE FOODS, INC.

J & J SNACK FOODS HANDHELDS CORP.

NEW YORK PRETZEL, LLC

SWIRL HOLDINGS CORPORATION

PHILLY’S FAMOUS WATER ICE, INC.

J & J SNACK FOODS ONLINE SALES CORP.

PACHYDERM INSURANCE COMPANY

 

 

 

 

[SIGNATURES CONTINUE ON FOLLOWING PAGE]

 

[Signature Page to Fifth Amendment and Modification to A&R Loan Agreement]

 

 

By:                 /s/ Ken A. Plunk                                                       

Name:         Ken A. Plunk

Title:           Chief Financial Officer of each of 

                    the above Subsidiary Borrowers

 

 

AGENT:

 

CITIZENS BANK, N.A., as successor by merger to

Citizens Bank of Pennsylvania

 

By:                 /s/ Pamela L. Hansen                                                 

Pamela L. Hansen

Senior Vice President

 

LENDERS:

 

CITIZENS BANK, N.A., as successor by merger to

Citizens Bank of Pennsylvania

 

By:                /s/ Pamela L. Hansen                                                  

Pamela L. Hansen

Senior Vice President

 

Commitment: $25,000,000.00

 

 

WELLS FARGO BANK, NATIONAL

ASSOCIATION.

 

By:                 /s/ Barbara L. Martinelli                                             

Barbara L. Martinelli

Senior Vice President

 

Commitment: $25,000,000.00

 

 

[Signature Page to Fifth Amendment and Modification to A&R Loan Agreement]

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