Document:

EXHIBIT 10.33

 

SIXTH AMENDMENT TO

REVOLVING CREDIT AND TERM
LOAN AGREEMENT

 

THIS SIXTH AMENDMENT TO REVOLVING CREDIT AND TERM LOAN
AGREEMENT dated as of August 13, 2004 (the “Amendment”), is entered
into by and between CAPITALSOURCE FINANCE LLC, a Delaware limited liability
company, in its capacity as administrative agent and collateral agent for the
Lenders under the Agreement referenced below (“Agent”), the Lenders
party thereto, and GARDENBURGER, INC., an Oregon corporation (“Borrower”).  Capitalized terms used and not otherwise
defined herein are used as defined in the Agreement (as defined below).

 

WHEREAS, the Agent, Lenders and Borrower have entered
into that certain Revolving Credit and Term Loan Agreement dated as of
January 10, 2002 (as amended, supplemented, modified and/or restated from
time to time, the “Agreement”), together with a First Amendment to the
Agreement dated as of September 30, 2002, a Second Amendment to the
Agreement dated as of December 31, 2002, a Third Amendment to the
Agreement dated as of March 31, 2003, a Fourth Amendment to the Agreement
dated as of December 29, 2003 and a Fifth Amendment to the Agreement dated
as of April 8, 2004;

 

WHEREAS, Borrower has requested that Agent and Lenders
amend certain provisions of the Agreement and waive certain Events of Default,
all as provided herein; and

 

WHEREAS, subject to satisfaction of the conditions set
forth herein, Agent and the Lenders are willing to amend the Agreement as
provided herein.

 

NOW, THEREFORE, in consideration of the premises and
the other mutual covenants contained herein, the receipt and sufficiency of
which are hereby acknowledged, the parties hereto agree as follows:

 

SECTION 1.  Amendments.  As of the Effective Date, the Agreement is
amended as follows:

 

(a)           Section 3.4
of the Agreement shall be and hereby is amended and restated and replaced in
its entirety to read in full as follows:

 

“3.4        Termination Fee; Exit Fee

 

Upon the earlier of (i) the payment in full of the
Term Loan and (ii) the last day of the Term Loan Term, Borrower shall pay Agent
for the ratable benefit of Lenders, an exit fee of $750,000 (the “Exit Fee”).  Borrower
may permanently repay the Loans and terminate Lender’s future lending
commitments hereunder, provided, that if such repayment or termination
occur on or before August 13, 2005, Borrower shall also pay a termination
fee (“Termination Fee”) of 1% of
the sum of (A) the Facility Cap and (B) the outstanding balance of
the Term Loan on August 13, 2004, minus the amount of scheduled principal
payments made between August 13, 2004, and the date of such repayment or
termination, and further  provided, that Borrower shall not be
obligated to pay the Termination Fee if CapitalSource is a lender in the credit
facility which replaces or refinances this Agreement.”

 

(b)           Section 6.1(g)
of the Agreement shall be and hereby is amended and restated and replaced in
its entirety to read in full as follows:

 

“(g)         Recipes
and Procedures.  Borrower shall
furnish to Agent by July 20 and January 20 of each year, a copy of each recipe
and procedures (which has not previously been delivered to Agent) for making
each product of Borrower, which shall be held by Agent in a safe deposit box
until such time as an Event of Default exists. 
Prior to an Event of Default, Agent will not disclose or distribute the
recipes or procedures to any Person, unless in connection with pursuing
and enforcing Agent’s and Lender’s remedies under the Loan Documents.  Notwithstanding anything contained in this
Agreement to the contrary, CapitalSource and its affiliates, as Agent and/or
Lender, may disclose to their lenders such recipes and procedures, provided
such lenders agree with CapitalSource (orally or in writing) to be subject to
the restrictions set forth in this Section 6.1(g).”

 

 

(c)           A
new Section 6.1(i) shall be added to the Agreement to read in full as
follows:

 

“(i)          Intellectual
Property.  Borrower shall furnish to
Agent by July 20 and January 20 of each year, a report specifying any material
Intellectual Property interests acquired by, obtained by, or licensed to
Borrower (which has not been previously disclosed to Agent), and shall deliver
to Agent, within ten (10) calendar days after Agent’s request, documentation to
perfect Agent’s, for its benefit and the benefit of the Lenders, Lien in such
Intellectual Property, in each case in form and substance acceptable to Agent
in its Permitted Discretion.”

 

(d)           Paragraphs 4
and 5 of Annex I of the Agreement shall be and hereby are amended and
restated and replaced in their entirety to read in full as follows:

 

“4)          Capital
Expenditures

 

Borrower shall not permit
its Capital Expenditures in the aggregate to exceed $1,550,000 for the fiscal
year ending on September 30, 2004, and $1,100,000 for each fiscal year
ending on or after September 30, 2005.

 

5)            Senior Fixed Charge Coverage Ratio.

 

The Senior Fixed Charge
Coverage Ratio for each Quarterly Test Period set forth below shall not be less
than the ratios specified below:

 

	
  Quarterly
  Test Period

  	
   

  	
  Ratio

  	
   

  
	
  September 30, 2004

  	
   

  	
  1.35:1.00

  	
   

  
	
  December 31, 2004

  	
   

  	
  1.25:1.00

  	
   

  
	
  March 31, 2005

  	
   

  	
  1.48:1.00

  	
   

  
	
  June 30, 2005

  	
   

  	
  1.57:1.00

  	
   

  

 

SECTION 2.  Conditions.  This Amendment shall be effective upon the
satisfaction of the following conditions precedent (the “Effective Date”):  (a) the representations and warranties
contained herein and in all other Loan Documents shall be true and correct in
all material respects as of the date hereof, except for such representations
and warranties limited by their terms to a specific date; (b) except as
specifically waived in Section 4 of this Amendment, no Default or Event of
Default shall be in existence as of the date hereof; (c) Borrower shall have
delivered to the Agent an executed original copy of this Amendment and each
other agreement, document or instrument reasonably requested by the Agent in
connection with this Amendment; (d) (i) the holders of the Subordinated Debt
and Borrower shall have executed a Sixth Amendment to Note Purchase Agreement
(the “Note Purchase Agreement Amendment”) in the form attached hereto as
Exhibit A and (ii) the holders of the Subordinated Debt shall have
consented in writing to this Amendment, in form and substance satisfactory to
Agent, and none of the provisions of this Amendment shall be a breach or event
of default under the Note Purchase Agreement or with respect to the
Subordinated Debt; (e) Borrower shall have paid to Agent all fees, costs
and expenses owed to and/or incurred by the Agent and Lenders arising in
connection with the Loan Documents and/or this Amendment; and (f) all
proceedings taken in connection with the transactions contemplated by this
Amendment and all documentation and other legal matters incident thereto shall
be satisfactory to the Agent.

 

SECTION 3.  Consent to Modifications of Agreements
with Subordinated Lender.  As of the
Effective Date, Agent and Lenders hereby consent to Borrower’s execution and
delivery of the Note Purchase Agreement Amendment.

 

SECTION 4.  Waivers.  Agent and Lenders (a) hereby acknowledge that
Events of Default exist because of Borrower’s failure to comply with the (i)
Senior Fixed Charge Coverage Ratio for the Quarterly Test Period ending
June 30, 2004 and (ii) the $1,200,000 limit on Capital Expenditures for
the fiscal year ending September 30, 2004; and (b) as of the Effective
Date waive all such Events of Default (provided, that this shall not constitute
a waiver of the increased limit of $1,550,000 for the fiscal year ending
September 30, 2004 as provided in this Amendment).  Borrower has represented to Agent that its
Senior Fixed Charge Coverage Ratio for the Quarterly Test Period ending June
30, 2004 was 0.81:1.00.

 

2

 

SECTION 5.  Agreement in Full Force and Effect as
Amended.  Except as specifically
amended hereby, the Agreement and other Loan Documents shall remain in full
force and effect and are hereby ratified and confirmed as so amended.  Except as expressly set forth herein, this
Amendment shall not be deemed to be a waiver, amendment or modification of any
provisions of the Agreement or any other Loan Document or any right, power or
remedy of Agent or Lenders, or constitute a waiver of any provision of the
Agreement or any other Loan Document, or any other document, instrument and/or
agreement executed or delivered in connection therewith or of any Default or
Event of Default under any of the foregoing, in each case whether arising
before or after the date hereof or as a result of performance hereunder or
thereunder.  This Amendment also shall
not preclude the future exercise of any right, remedy, power, or privilege
available to Agent and/or Lenders whether under the Agreement, the other Loan
Documents, at law or otherwise.  All
references to the Agreement shall be deemed to mean the Agreement as modified
hereby.  This Amendment shall not
constitute a novation or satisfaction and accord of the Agreement and/or other
Loan Documents, but shall constitute an amendment thereof.  The parties hereto agree to be bound by the
terms and conditions of the Agreement and Loan Documents as amended by this
Amendment, as though such terms and conditions were set forth herein.  Each reference in the Agreement to “this
Agreement,” “hereunder,” “hereof,” “herein” or words of similar import shall
mean and be a reference to the Agreement as amended by this Amendment, and each
reference herein or in any other Loan Documents to the “Loan Agreement” or “Credit
Agreement” shall mean and be a reference to the Agreement as amended and
modified by this Amendment.

 

SECTION 6.  Representations.  Borrower hereby represents and warrants to
Agent and Lenders as follows:  (i) it is
duly incorporated or organized, validly existing and in good standing under the
laws of its jurisdiction of organization; (ii) the execution, delivery and
performance by it of this Amendment and all other Loan Documents executed
and/or delivered in connection herewith are within its powers, have been duly
authorized, and do not contravene (A) its articles of organization, operating
agreement, or other organizational documents, or (B) any applicable law; (iii)
no consent, license, permit, approval or authorization of, or registration,
filing or declaration with any Governmental Authority or other Person, is
required in connection with the execution, delivery, performance, validity or enforceability
of this Amendment or any other Loan Documents executed and/or delivered in
connection herewith by or against it; (iv) this Amendment and all other Loan
Documents executed and/or delivered in connection herewith has been duly
executed and delivered by it; (v) this Amendment and all other Loan Documents
executed and/or delivered in connection herewith constitute its legal, valid
and binding obligation enforceable against it in accordance with its terms,
except as enforceability may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium or similar laws affecting the enforcement of
creditors’ rights generally or by general principles of equity; (vi) after
giving effect to this Amendment, it is not in default under the Loan Documents
and no Default or Event of Default exists, has occurred and is continuing or
would result by the execution, delivery or performance of this Amendment; and
(vii) the representations and warranties contained in the Loan Documents are
true and correct in all material respects as of the date hereof as if made on
the date hereof, except for such representations and warranties limited by
their terms to a specific date.

 

SECTION 7.  Miscellaneous.

 

(a)           This
Amendment may be executed in any number of counterparts (including by
facsimile), and by the different parties hereto on the same or separate
counterparts, each of which shall be deemed to be an original instrument but
all of which together shall constitute one and the same agreement.  Each party agrees that it will be bound by
its own facsimile signature and that it accepts the facsimile signature of each
other party.  The descriptive headings of
the various sections of this Amendment are inserted for convenience of reference
only and shall not be deemed to affect the meaning or construction of any of
the provisions hereof or thereof. 
Whenever the context and construction so require, all words herein in
the singular number herein shall be deemed to have been used in the plural, and
vice versa, and the masculine gender shall include the feminine and neuter and
the neuter shall include the masculine and feminine.

 

(b)           This
Amendment may not be changed, amended, restated, waived, supplemented,
discharged, canceled, terminated or otherwise modified orally or by any course
of dealing or in any manner other than as provided in the Agreement.  This Amendment shall be considered part of
the Agreement and shall be a Loan Document for all purposes under the Agreement
and other Loan Documents.

 

(c)           This
Amendment, the Agreement and the Loan Documents constitute the final, entire
agreement and understanding between the parties with respect to the subject
matter hereof and thereof and may not 

 

3

 

be contradicted by
evidence of prior, contemporaneous or subsequent oral agreements between the
parties, and shall be binding upon and inure to the benefit of the successors
and assigns of the parties hereto and thereto. 
There are no unwritten oral agreements between the parties with respect
to the subject matter hereof and thereof.

 

(d)           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
CHOICE OF LAW PROVISIONS SET FORTH IN THE AGREEMENT AND SHALL BE SUBJECT TO THE
WAIVER OF JURY TRIAL AND NOTICE PROVISIONS OF THE AGREEMENT.

 

(e)           Borrower
may not assign, delegate or transfer this Amendment or any of its rights or
obligations hereunder.  No rights are
intended to be created under this Amendment for the benefit of any third party
donee, creditor or incidental beneficiary of Borrower or any Guarantor.  Nothing contained in this Amendment shall be
construed as a delegation to Agent or Lenders of Borrower’s or any Guarantor’s
duty of performance, including, without limitation, any duties under any
account or contract in which Agent has or Lenders have a security interest or
Lien.  This Amendment shall be binding
upon the Borrower and its respective successors and assigns.

 

(f)            The
Borrower shall pay all costs and expenses incurred by Agent and Lenders or any
of their affiliates, including, without limitation, documentation and diligence
fees and expenses, all search, audit, appraisal, recording, and filing fees and
expenses and all other out-of-pocket charges and expenses (including, without
limitation, UCC and judgment and tax lien searches and UCC filings and fees for
post-Closing UCC and judgment and tax lien searches) and reasonable fees and
expenses of outside counsel, in connection with entering into, negotiating,
preparing, reviewing and executing this Amendment and the documents, agreements
and instruments contemplated hereby and all related agreements, documents and
instruments, and all of the same shall be part of the Obligations.

 

(g)           Borrower
hereby (i) agrees that this Amendment shall not limit or diminish the
obligations of Borrower under the Loan Documents, (ii) reaffirms its
obligations under each of the Loan Documents to which it is a party, and (iii)
agrees that each of such Loan Documents remains in full force and effect and is
hereby ratified and confirmed.

 

(h)           All
representations and warranties made in this Amendment shall survive the
execution and delivery of this Amendment and no investigation by Agent or
Lenders shall affect such representations or warranties or the right of Agent
or Lenders to rely upon them.

 

(i)            BORROWER
HEREBY ACKNOWLEDGES AND AGREES THAT IT KNOWS OF NO DEFENSE, COUNTERCLAIM,
OFFSET, CROSS-COMPLAINT, CLAIM OR DEMAND OF ANY KIND OR NATURE WHATSOEVER ORIGINATING
ON OR BEFORE THE DATE THIS AMENDMENT IS EXECUTED THAT CAN BE ASSERTED TO REDUCE
OR ELIMINATE ALL OR ANY PART OF ITS LIABILITY TO REPAY THE OBLIGATIONS OR TO
SEEK AFFIRMATIVE RELIEF OR DAMAGES OF ANY KIND OR NATURE FROM AGENT AND THE
LENDERS.  BORROWER HEREBY VOLUNTARILY AND
KNOWINGLY RELEASES AND FOREVER DISCHARGES AGENT, THE LENDERS AND EACH OF THEIR
RESPECTIVE PREDECESSORS, AGENTS, EMPLOYEES, AFFILIATES, SUCCESSORS AND ASSIGNS
(COLLECTIVELY, THE “RELEASED PARTIES”) FROM ALL POSSIBLE KNOWN CLAIMS,
DEMANDS, ACTIONS, CAUSES OF ACTION, DAMAGES, COSTS, EXPENSES AND LIABILITIES
WHATSOEVER, FIXED, CONTINGENT OR CONDITIONAL, OR AT LAW OR IN EQUITY, IN ANY
CASE ORIGINATING ON OR BEFORE THE DATE THIS AMENDMENT IS EXECUTED THAT BORROWER
MAY NOW OR HEREAFTER HAVE AGAINST THE RELEASED PARTIES, IF ANY, IRRESPECTIVE OF
WHETHER ANY SUCH CLAIMS ARISE OUT OF CONTRACT, TORT, VIOLATION OF LAW OR
REGULATIONS, OR OTHERWISE, AND THAT ARISE FROM ANY OF THE LOANS, THE EXERCISE
OF ANY RIGHTS AND REMEDIES UNDER THE AGREEMENT OR ANY OF THE OTHER LOAN
DOCUMENTS, AND/OR THE NEGOTIATION FOR AND EXECUTION OF THIS AMENDMENT,
INCLUDING, WITHOUT LIMITATION, ANY CONTRACTING FOR, CHARGING, TAKING,
RESERVING, COLLECTING OR RECEIVING INTEREST IN EXCESS OF THE HIGHEST LAWFUL
RATE APPLICABLE.  NOTWITHSTANDING THE
FOREGOING, NOTHING CONTAINED IN THIS SECTION 7(i) SHALL APPLY WITH RESPECT TO
ANY WILLFUL MISCONDUCT OR BAD FAITH BY THE RELEASED PARTIES.

 

[Signature
Page Follows]

 

4

 

IN WITNESS WHEREOF, the parties have caused this Sixth
Amendment to Revolving Credit and Term Loan Agreement to be executed by their
respective officers thereunto duly authorized, as of the date first above
written.

 

 

	
   

  	
  LENDER/AGENT:

  
	
   

  	
   

  
	
   

  	
  CAPITALSOURCE
  FINANCE LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Joseph Turitz

  
	
   

  	
  Name:

  	
  Joseph
  Turitz

  
	
   

  	
  Title:

  	
  General
  Counsel, Corporate Finance Group

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  BORROWER:

  
	
   

  	
   

  
	
   

  	
  GARDENBURGER,
  INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Scott C. Wallace

  
	
   

  	
  Name:

  	
  Scott
  C. Wallace

  
	
   

  	
  Title:

  	
  President
  and Chief Executive Officer

  
							

 

5EXHIBIT 10.34

 

SEVENTH AMENDMENT TO

REVOLVING CREDIT AND TERM
LOAN AGREEMENT

 

THIS SEVENTH AMENDMENT TO REVOLVING CREDIT AND TERM
LOAN AGREEMENT dated as of November 29, 2004 (the “Amendment”), is
entered into by and between CAPITALSOURCE FINANCE LLC, a Delaware limited
liability company, in its capacity as administrative agent and collateral agent
for the Lenders under the Agreement referenced below (“Agent”), the
Lenders party thereto, and GARDENBURGER, INC., an Oregon corporation (“Borrower”).  Capitalized terms used and not otherwise
defined herein are used as defined in the Agreement (as defined below).

 

WHEREAS, the Agent, Lenders and Borrower have entered
into that certain Revolving Credit and Term Loan Agreement dated as of
January 10, 2002, as amended by a First Amendment to Revolving Credit and
Term Loan Agreement dated as of September 30, 2002, a Second Amendment to
Revolving Credit and Term Loan Agreement dated as of December 31, 2002, a
Third Amendment to Revolving Credit and Term Loan Agreement dated as of
March 31, 2003, a Fourth Amendment to Revolving Credit and Term Loan
Agreement dated as of December 29, 2003, a Fifth Amendment to Revolving
Credit and Term Loan Agreement dated as of April 8, 2004 and the Sixth
Amendment to Revolving Credit and Term Loan Agreement dated as of August 13,
2004 (as amended, supplemented, modified and/or restated from time to time, the
“Agreement”);

 

WHEREAS, Borrower has requested that Agent and Lenders
amend the Agreement as provided herein; and

 

WHEREAS, subject to
satisfaction of the conditions set forth herein, Agent and the Lenders are
willing to amend the Agreement as provided herein.

 

NOW, THEREFORE, in consideration of the premises and
the other mutual covenants contained herein, the receipt and sufficiency of
which are hereby acknowledged, the parties hereto agree as follows:

 

SECTION
1.  Amendments.  As of the Effective Date, the Agreement is
amended as follows:

 

(a)           Payroll
Accounts.  Notwithstanding anything
in the Agreement to the contrary, Borrower shall not be required to deliver to
Agent control agreements with respect to payroll bank accounts for Borrower as
long as such payroll bank accounts do not have a balance in excess of the
current payroll related obligations of Borrower.

 

SECTION
2.  Conditions.  This Amendment shall be effective upon the
satisfaction of the following conditions precedent (the “Effective Date”):  (a) the representations and warranties
contained herein and in all other Loan Documents shall be true and correct in
all material respects as of the date hereof, except for such representations
and warranties limited by their terms to a specific date; (b) no Default or
Event of Default shall be in existence as of the date hereof; (c) Borrower
shall have delivered to the Agent an executed original copy of this 

 

 

Amendment and each other agreement, document or
instrument reasonably requested by the Agent in connection with this Amendment;
and (d) none of the provisions of this Amendment shall be a breach or event of
default under the Note Purchase Agreement or with respect to the Subordinated
Debt.

 

SECTION
3.  Agreement in Full Force
and Effect as Amended.  Except
as specifically amended hereby, the Agreement and other Loan Documents shall
remain in full force and effect and are hereby ratified and confirmed as so
amended.  Except as expressly set forth
herein, this Amendment shall not be deemed to be a waiver, amendment or
modification of any provisions of the Agreement or any other Loan Document or
any right, power or remedy of Agent or Lenders, or constitute a waiver of any
provision of the Agreement or any other Loan Document, or any other document,
instrument and/or agreement executed or delivered in connection therewith or of
any Default or Event of Default under any of the foregoing, in each case
whether arising before or after the date hereof or as a result of performance
hereunder or thereunder.  This Amendment
also shall not preclude the future exercise of any right, remedy, power, or
privilege available to Agent and/or Lenders whether under the Agreement, the
other Loan Documents, at law or otherwise. 
All references to the Agreement shall be deemed to mean the Agreement as
modified hereby.  This Amendment shall
not constitute a novation or satisfaction and accord of the Agreement and/or
other Loan Documents, but shall constitute an amendment thereof.  The parties hereto agree to be bound by the
terms and conditions of the Agreement and Loan Documents as amended by this
Amendment, as though such terms and conditions were set forth herein.  Each reference in the Agreement to “this
Agreement,” “hereunder,” “hereof,” “herein” or words of similar import shall
mean and be a reference to the Agreement as amended by this Amendment, and each
reference herein or in any other Loan Documents to the “Loan Agreement” or “Credit
Agreement” shall mean and be a reference to the Agreement as amended and
modified by this Amendment.

 

SECTION
4.  Representations.  Borrower hereby represents and warrants to
Agent and Lenders as follows:  (i) it is
duly incorporated or organized, validly existing and in good standing under the
laws of its jurisdiction of organization; (ii) the execution, delivery and
performance by it of this Amendment and all other Loan Documents executed
and/or delivered in connection herewith are within its powers, have been duly
authorized, and do not contravene (A) its articles of organization, operating
agreement, or other organizational documents, or (B) any applicable law; (iii)
no consent, license, permit, approval or authorization of, or registration,
filing or declaration with any Governmental Authority or other Person, is
required in connection with the execution, delivery, performance, validity or
enforceability of this Amendment or any other Loan Documents executed and/or delivered
in connection herewith by or against it; (iv) this Amendment and all other Loan
Documents executed and/or delivered in connection herewith has been duly
executed and delivered by it; (v) this Amendment and all other Loan Documents
executed and/or delivered in connection herewith constitute its legal, valid
and binding obligation enforceable against it in accordance with its terms,
except as enforceability may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium or similar laws affecting the enforcement of
creditors’ rights generally or by general principles of equity; (vi) after
giving effect to this Amendment, it is not in default under the Loan Documents
and no Default or Event of Default exists, has occurred and is continuing or
would result by the execution, delivery or performance of this Amendment; and
(vii) the representations and warranties contained in the Loan Documents are
true and correct in all material respects as of the 

 

2

 

date hereof as if made on the date hereof, except for such representations and
warranties limited by their terms to a specific date.

 

SECTION
5.  Miscellaneous.

 

(a)           This
Amendment may be executed in any number of counterparts (including by facsimile),
and by the different parties hereto on the same or separate counterparts, each
of which shall be deemed to be an original instrument but all of which together
shall constitute one and the same agreement. 
Each party agrees that it will be bound by its own facsimile signature
and that it accepts the facsimile signature of each other party.  The descriptive headings of the various
sections of this Amendment are inserted for convenience of reference only and
shall not be deemed to affect the meaning or construction of any of the
provisions hereof or thereof.  Whenever
the context and construction so require, all words herein in the singular
number herein shall be deemed to have been used in the plural, and vice versa,
and the masculine gender shall include the feminine and neuter and the neuter
shall include the masculine and feminine.

 

(b)           This
Amendment may not be changed, amended, restated, waived, supplemented,
discharged, canceled, terminated or otherwise modified orally or by any course
of dealing or in any manner other than as provided in the Agreement.  This Amendment shall be considered part of
the Agreement and shall be a Loan Document for all purposes under the Agreement
and other Loan Documents.

 

(c)           This
Amendment, the Agreement and the Loan Documents constitute the final, entire
agreement and understanding between the parties with respect to the subject
matter hereof and thereof and may not be contradicted by evidence of prior,
contemporaneous or subsequent oral agreements between the parties, and shall be
binding upon and inure to the benefit of the successors and assigns of the
parties hereto and thereto.  There are no
unwritten oral agreements between the parties with respect to the subject
matter hereof and thereof.

 

(d)           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
CHOICE OF LAW PROVISIONS SET FORTH IN THE AGREEMENT AND SHALL BE SUBJECT TO THE
WAIVER OF JURY TRIAL AND NOTICE PROVISIONS OF THE AGREEMENT.

 

(e)           Borrower
may not assign, delegate or transfer this Amendment or any of its rights or
obligations hereunder.  No rights are
intended to be created under this Amendment for the benefit of any third party
donee, creditor or incidental beneficiary of Borrower or any Guarantor.  Nothing contained in this Amendment shall be
construed as a delegation to Agent or Lenders of Borrower’s or any Guarantor’s
duty of performance, including, without limitation, any duties under any
account or contract in which Agent has or Lenders have a security interest or
Lien.  This Amendment shall be binding
upon the Borrower and its respective successors and assigns.

 

(f)            The
Borrower shall pay all costs and expenses incurred by Agent and Lenders or any
of their affiliates, including, without limitation, documentation and diligence
fees 

 

3

 

and expenses, all
search, audit, appraisal, recording, and filing fees and expenses and all other
out-of-pocket charges and expenses (including, without limitation, UCC and
judgment and tax lien searches and UCC filings and fees for post-Closing UCC
and judgment and tax lien searches) and reasonable fees and expenses of outside
counsel, in connection with entering into, negotiating, preparing, reviewing
and executing this Amendment and the documents, agreements and instruments
contemplated hereby and all related agreements, documents and instruments, and
all of the same shall be part of the Obligations.

 

(g)           Borrower
hereby (i) agrees that this Amendment shall not limit or diminish the
obligations of Borrower under the Loan Documents, (ii) reaffirms its
obligations under each of the Loan Documents to which it is a party, and (iii)
agrees that each of such Loan Documents remains in full force and effect and is
hereby ratified and confirmed.

 

(h)           All
representations and warranties made in this Amendment shall survive the
execution and delivery of this Amendment and no investigation by Agent or
Lenders shall affect such representations or warranties or the right of Agent
or Lenders to rely upon them.

 

(i)            BORROWER
HEREBY ACKNOWLEDGES AND AGREES THAT IT KNOWS OF NO DEFENSE, COUNTERCLAIM,
OFFSET, CROSS-COMPLAINT, CLAIM OR DEMAND OF ANY KIND OR NATURE WHATSOEVER
ORIGINATING ON OR BEFORE THE DATE THIS AMENDMENT IS EXECUTED THAT CAN BE
ASSERTED TO REDUCE OR ELIMINATE ALL OR ANY PART OF ITS LIABILITY TO REPAY THE
OBLIGATIONS OR TO SEEK AFFIRMATIVE RELIEF OR DAMAGES OF ANY KIND OR NATURE FROM
AGENT AND THE LENDERS.  BORROWER HEREBY
VOLUNTARILY AND KNOWINGLY RELEASES AND FOREVER DISCHARGES AGENT, THE LENDERS
AND EACH OF THEIR RESPECTIVE PREDECESSORS, AGENTS, EMPLOYEES, AFFILIATES,
SUCCESSORS AND ASSIGNS (COLLECTIVELY, THE “RELEASED PARTIES”) FROM ALL
POSSIBLE KNOWN CLAIMS, DEMANDS, ACTIONS, CAUSES OF ACTION, DAMAGES, COSTS,
EXPENSES AND LIABILITIES WHATSOEVER, FIXED, CONTINGENT OR CONDITIONAL, OR AT
LAW OR IN EQUITY, IN ANY CASE ORIGINATING ON OR BEFORE THE DATE THIS AMENDMENT
IS EXECUTED THAT BORROWER MAY NOW OR HEREAFTER HAVE AGAINST THE RELEASED
PARTIES, IF ANY, IRRESPECTIVE OF WHETHER ANY SUCH CLAIMS ARISE OUT OF CONTRACT,
TORT, VIOLATION OF LAW OR REGULATIONS, OR OTHERWISE, AND THAT ARISE FROM ANY OF
THE LOANS, THE EXERCISE OF ANY RIGHTS AND REMEDIES UNDER THE AGREEMENT OR ANY
OF THE OTHER LOAN DOCUMENTS, AND/OR THE NEGOTIATION FOR AND EXECUTION OF THIS
AMENDMENT, INCLUDING, WITHOUT LIMITATION, ANY CONTRACTING FOR, CHARGING,
TAKING, RESERVING, COLLECTING OR RECEIVING INTEREST IN EXCESS OF THE HIGHEST
LAWFUL RATE APPLICABLE.  NOTWITHSTANDING
THE FOREGOING, NOTHING CONTAINED IN THIS SECTION 7(i) SHALL APPLY WITH RESPECT
TO ANY WILLFUL MISCONDUCT OR BAD FAITH BY THE RELEASED PARTIES.

 

[Signature Page
Follows]

 

4

 

IN WITNESS WHEREOF, the parties have caused this
Seventh Amendment to Revolving Credit and Term Loan Agreement to be executed by
their respective officers thereunto duly authorized, as of the date first above
written.

 

 

	
   

  	
  LENDER/AGENT:

  
	
   

  	
   

  
	
   

  	
  CAPITALSOURCE
  FINANCE LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Joseph Turitz

  
	
   

  	
  Name:

  	
  Joseph
  Turitz

  
	
   

  	
  Title:

  	
  General
  Counsel

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  BORROWER:

  
	
   

  	
   

  
	
   

  	
  GARDENBURGER,
  INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Robert T. Trebing, Jr.

  
	
   

  	
  Name:

  	
  Robert
  T. Trebing, Jr.

  
	
   

  	
  Title:

  	
  Senior
  Vice President and Chief Financial Officer

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00078-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00078-of-00352.parquet"}]]