SEC Contract Filing

Filing Date: 2022-06-06

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>exh_101.htm
<DESCRIPTION>EXHIBIT 10.1
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.1</B></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SECOND AMENDMENT TO<BR>
THIRD AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This <B>SECOND AMENDMENT TO
THIRD AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT</B>, dated as of June 3, 2022 (this &ldquo;<B>Amendment</B>&rdquo;), among FRANCHISE
GROUP, INC., a Delaware corporation (&ldquo;<B>FRG</B>&rdquo;), VALOR ACQUISITION, LLC, a Delaware limited liability company, FRANCHISE
GROUP NEWCO INTERMEDIATE AF, LLC, a Delaware limited liability company, FRANCHISE GROUP NEWCO PSP, LLC, a Delaware limited liability company,
each as a Borrower (as defined in the ABL Loan Agreement (as defined below)), the other Borrowers party to the ABL Loan Agreement, the
Guarantors (as defined in the ABL Loan Agreement) party to the ABL Loan Agreement, each of the Lenders party to the ABL Loan Agreement
on the date hereof and JPMORGAN CHASE BANK, N.A., in its capacities as administrative agent and collateral agent (in such capacities,
the &ldquo;<B>Agent</B>&rdquo;), which amends that certain Third Amended and Restated Loan and Security Agreement, dated as of March 10,
2021 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time prior to the date hereof, the &ldquo;<B>ABL
Loan Agreement</B>&rdquo;), by and among FRG, the other Borrowers from time to time party thereto, the Guarantors from time to time party
thereto, the Lenders from time to time party thereto and the Agent. Capitalized terms used and not otherwise defined herein shall have
the meanings assigned to them in the Amended ABL Loan Agreement (as defined below).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, Section 11.4
of the ABL Loan Agreement permits certain amendments to the ABL Loan Agreement with the consent of the Borrowers, the Agent and each of
the Lenders, including the amendments contemplated herein; and</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>WHEREAS</B>, each Borrower,
the Agent and each of the Lenders desire to enter into this Amendment in order to effect the amendments to the ABL Loan Agreement contemplated
herein, in each case, on the terms and subject to the conditions set forth in <U>Section 2</U>.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>NOW, THEREFORE</B>, in
consideration of the mutual agreements herein contained and other good and valuable consideration, the sufficiency and receipt of which
are hereby acknowledged, the parties hereto agree as follows:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: windowtext">Section
1.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Amendments to the ABL Loan Agreement</U>. Subject to the satisfaction (or waiver by the Lenders) of the conditions set
forth in <U>Section 2</U>, the ABL Loan Agreement (including Schedule 1A thereto, but excluding all other Schedules and Exhibits thereto,
which shall remain as in effect immediately prior to the Second Amendment Effective Date), shall be amended by inserting the language
indicated in double underlined text (indicated textually in the same manner as the following example: <FONT STYLE="font-family: Times New Roman, Times, Serif; text-underline-style: double; color: blue"><B><U>underlined
text</U></B></FONT>) in <U>Exhibit A</U> hereto and by deleting the language indicated by strikethrough text (indicated textually in the
same manner as the following example: <FONT STYLE="color: red"><STRIKE>stricken text</STRIKE></FONT>) in <U>Exhibit A</U> hereto (the
ABL Loan Agreement, as so amended, the &ldquo;<B>Amended ABL Loan Agreement</B>&rdquo;).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="color: windowtext">Section
2.<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT></FONT><U>Conditions to Effectiveness</U>. The effectiveness of this Amendment is subject only to the satisfaction (or waiver by
the Lenders) of the following conditions precedent (the date on which such conditions have been satisfied (or waived by the Lenders),
the &ldquo;<B>Second Amendment Effective Date</B>&rdquo;):</P>

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