SEC Contract Filing

Filing Date: 2021-03-15

Document Content:
<DOCUMENT>
<TYPE>EX-10.9
<SEQUENCE>10
<FILENAME>exh_109.htm
<DESCRIPTION>EXHIBIT 10.9
<TEXT>
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<P STYLE="text-align: right; margin: 0"><B>Exhibit 10.9</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Notwithstanding anything herein to the
contrary, the lien and security interest granted to Agent (as hereinafter defined) pursuant to this Third Amended and Restated
Pledge Agreement and the exercise of any right or remedy by Agent hereunder are subject to the provisions of the Intercreditor
Agreement (as defined in the Loan Agreement (as hereinafter defined)). In the event of any express conflict between the terms of
the Intercreditor Agreement and this Third Amended and Restated Pledge Agreement, the terms of the Intercreditor Agreement shall
control to the extent set forth therein.</I></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">THIRD AMENDED AND RESTATED PLEDGE AGREEMENT<BR>
<BR>
dated as of<BR>
<BR>
March 10, 2021,<BR>
<BR>
among<BR>
<BR>
<FONT STYLE="text-transform: uppercase">franchise group, inc.,</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase">Valor
Acquisition, LLC</FONT>,</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase">Franchise
Group Newco Intermediate AF, LLC</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FRANCHISE GROUP NEWCO PSP, LLC,<BR>
<BR>
THE OTHER PLEDGORS PARTY HERETO</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">JPMORGAN CHASE BANK, N.A.,</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>TABLE OF CONTENTS</U></B></P>

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<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; text-transform: uppercase">
 <TD STYLE="width: 90%; text-align: left; text-indent: -1.2in; padding-top: 14pt; padding-bottom: 6pt; padding-left: 1.2in">Article I. Definitions</TD>
 <TD STYLE="width: 10%; text-align: right; padding-top: 14pt; padding-bottom: 6pt">2</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
 <TD STYLE="text-align: left; text-indent: -1.2in; padding-top: 0in; padding-bottom: 0in; padding-left: 113.4pt">Section 1.01. Defined Terms.</TD>
 <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">2</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
 <TD STYLE="text-align: left; text-indent: -1.2in; padding-top: 0in; padding-bottom: 0in; padding-left: 113.4pt">Section 1.02. Other Defined Terms.</TD>
 <TD STYLE="text-align: right; padding-top: 0in; padding-bottom: 0in">2</TD></TR>
<TR STYLE="text-align: left; vertical-align: bottom; font: 10pt Times New Roman, Times, Serif; text-transform: uppercase">
 <TD STYLE="text-align: left; text-indent: -1.2in; padding-top: 14pt; padding-bottom: 6pt; padding-left: 1.2in">Article II. Pledge