SEC Contract Filing

Filing Date: 2022-07-26

Document Content:
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<TYPE>EX-10.1
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<FILENAME>d370073dex101.htm
<DESCRIPTION>EX-10.1
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>EXECUTION VERSION </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>WAIVER
UNDER CREDIT AGREEMENT </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">THIS WAIVER UNDER CREDIT AGREEMENT (this &#147;<U>Agreement</U>&#148;) is made and entered into as of
July&nbsp;25, 2022, by and among F45 TRAINING HOLDINGS INC., a Delaware corporation (the &#147;<U>Borrower</U>&#148;), the other Loan Parties party hereto, the Lenders party hereto, and JPMORGAN CHASE BANK, N.A., as Administrative Agent and
Australian Security Trustee (the &#147;<U>Administrative Agent</U>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>W</U> <U>I</U> <U>T</U> <U>N</U> <U>E</U> <U>S</U> <U>S</U>
<U>E</U> <U>T</U> <U>H</U> : </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Borrower, the other Loan Parties party thereto, the Lenders, and Administrative Agent have
executed and delivered that certain Amended and Restated Credit Agreement dated as of August&nbsp;13, 2021, as amended by that certain First Amendment to Amended and Restated Credit Agreement dated as of December&nbsp;20, 2021, as amended by that
certain Second Amendment to Amended and Restated Credit Agreement dated as of May&nbsp;13, 2022 (as the same may be amended, restated, supplemented, or otherwise modified from time to time, the &#147;<U>Credit Agreement</U>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Borrower has requested that the Required Lenders waive certain defaults, and Required Lenders have agreed to waive certain
defaults, subject to the terms and conditions hereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, for and in consideration of the above premises and other good and
valuable consideration, the receipt and sufficiency of which is hereby acknowledged by the parties hereto, Borrower, the Administrative Agent, and the Lenders party hereto hereby covenant and agree as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 1. <U>Definitions</U>. Unless otherwise specifically defined herein, each term used herein (and in the recitals above) which is
defined in the Credit Agreement shall have the meaning assigned to such term in the Credit Agreement. Each reference to &#147;hereof,&#148; &#147;hereunder,&#148; &#147;herein,&#148; and &#147;hereby&#148; and each other similar reference and each
reference to &#147;this Agreement&#148; and each other similar reference contained in the Credit Agreement from and after the date hereof refer to the Credit Agreement as amended hereby. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 2. <U>Waiver</U>. The Lenders party hereto hereby waive any Event of Default that may have occurred or that may occur pursuant to
clause (r)&nbsp;of Article VII of the Credit Agreement as a result of a violation of Section&nbsp;7.1(u) of the Specified Securitization Credit Agreement only so long as the outstanding balance under the Specified Securitization Credit Agreement
remains unfunded. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 3. <U>Conditions Precedent</U>. This Agreement shall become effective only upon satisfaction of the following
conditions precedent on or before the date hereof: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) execution and delivery of this Agreement by the Borrower,
Administrative Agent and the Required Lenders; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) execution and delivery by the Guarantors of the Consent, Reaffirmation,
and Agreement of Guarantors attached hereto; and </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Lender shall have received all other fees, costs and expenses due and
payable pursuant to the Credit Agreement (including without limitation the reasonable fees and expenses of Holland&nbsp;&amp; Knight, counsel to Administrative Agent). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 4. <U>Miscellaneous Terms.</U> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a) <U>Loan Document</U>. For avoidance of doubt, the Borrower, the Administrative Agent, and the Lenders party hereto hereby
acknowledge and agree that this Agreement is a Loan Document. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) <U>Effect of Agreement</U>. Except as set forth
expressly hereinabove, all terms of the Credit Agreement and the oth