SEC Contract Filing

Filing Date: 2024-03-20

Document Content:
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<TYPE>EX-10.30
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<DESCRIPTION>EX-10.30
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<DIV><FONT size="1" style="font-size:1pt;color:white">EXECUTION VERSION ACTIVE 266434706v.6 FIRST AMENDMENT TO CREDIT AGREEMENT This FIRST AMENDMENT TO CREDIT AGREEMENT, dated as of April 19, 2021 (this &#8220;Amendment&#8221;), is entered into by and among LANDEC CORPORATION, a Delaware corporation (&#8220;Landec&#8221;), CURATION FOODS, INC., a Delaware corporation (&#8220;Curation&#8221;), LIFECORE BIOMEDICAL, INC., a Delaware corporation (collectively with Landec and Curation, the &#8220;Borrowers&#8221; and each a &#8220;Borrower&#8221;), each Guarantor party hereto, BMO HARRIS BANK N.A., as Administrative Agent, the Lenders party hereto, and GLAS AMERICAS LLC, a limited liability company organized and existing under the laws of the State of New York, as MXN Collateral Agent. RECITALS: WHEREAS, reference is hereby made to that certain Credit Agreement, dated as of December 31, 2020 (as amended, restated, supplemented or otherwise modified prior to the date hereof, the &#8220;Existing Credit Agreement&#8221;, and as further amended by this Amendment, the &#8220;Credit Agreement&#8221;; capitalized terms used herein (including the preamble and recitals hereto) and not otherwise defined herein shall have the meanings ascribed thereto in the Credit Agreement, as amended herein), by and among the Borrowers, the other Loan Parties party thereto from time to time, the Lenders party thereto from time to time, and BMO Harris Bank N.A., as Administrative Agent; WHEREAS, in connection with the joinder of Tanok and Tanokatan to the Credit Agreement, the Lenders and Administrative Agent desires to appoint Glas Americas LLC as collateral agent for the Lenders pursuant to Section 10.05 of the Credit Agreement in respect of any Mexican Collateral (as defined in the Term Loan Intercreditor Agreement) (the &#8220;Appointment&#8221;); and WHEREAS, in connection with the Appointment, the Loan Parties, the Administrative Agent and the Lenders wish to amend the Existing Credit Agreement, subject to the terms and conditions set forth herein. NOW, THEREFORE, in consideration of the premises and the agreements, provisions and covenants herein contained, the parties hereto hereby agree as follows: 1. Amendments. Subject to the terms and conditions set forth herein, including satisfaction of each condition set forth in Section 3 below, and in reliance on the representations, warranties, covenants and agreements of the Loan Parties set forth herein, the Credit Agreement is amended as follows as of the date hereof: (a) The preamble of the Existing Credit Agreement is hereby amended and restated in its entirety to read as follows: This CREDIT AGREEMENT (this &#8220;Agreement&#8221;) is entered into as of December 31, 2020, by and among LANDEC CORPORATION, a Delaware corporation (&#8220;Landec&#8221;), CURATION FOODS, INC., a Delaware corporation (&#8220;Curation&#8221;), LIFECORE BIOMEDICAL, INC., a Delaware corporation (&#8220;Lifecore Inc.&#8221; and collectively with Landec, Curation and each other party that executes a joinder to the Credit Agreement as a borrower, whether pursuant to Section 7.12, the &#8220;Borrowers&#8221; and each a &#8220;Borrower&#8221;), EACH GUARANTOR FROM TIME TO TIME PARTY HERETO, EACH LENDER FROM TIME TO TIME PARTY HERETO (collectively, the &#8220;Lenders&#8221; and individually, a &#8220;Lender&#8221;), GLAS AMERICAS LLC, a limited liability company organized and existing under the laws of the State of New York, as MXN Collateral Agent, and BMO HARRIS BANK N.A., as Administrative Agent, Swing Line Lender and a Letter of Credit Issuer. </FONT></DIV>
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<DIV><FONT size="1" style="font-size:1pt;color:white">2 (b) Section 1.01 of the Existing Credit Agreement is hereby further amended by inserting the following new defined terms in alphabetical order: &#8220;GLAS&#8221; means GLAS Americas LLC, a limited liability company organized and existing under the laws of the State of New York, together with any successor thereto from time to time. &#8220;Mexican Collateral Documents&#8221; means (i) the Mexican Subsidiary Security Agreement, (ii) each counterpart agreement pursuant to which each Mexican Subsidiary becomes a &#8220;Guarantor&#8221; under the Credit Agreement, and (iii) any other collateral or security documents executed in connection herewith from time to time and governed by the laws of Mexico, in each case, as amended, restated, supplemented or otherwise modified from time to time in accordance therewith and with this Agreement. &#8220;Mexico&#8221; means the United Mexican States. &#8220;MXN Collateral Agent&#8221; means GLAS, not in its individual capacity, but solely in its capacity as collateral agent for the Lenders pursuant to Section 10.5 in respect of the Mexican Collateral (as defined in the Term Loan Intercreditor Agreement), and any successor collateral agent appointed in accordance with Section 10.05. (c) Section 6.03 of the Existing Credit Agreement is hereby amended to delete each reference to &#8220;Collateral Documents&#8221; now appearing therein and insert in lieu thereof, in each case, a reference to &#8220;Loan Documents&#8221;. (d) Section 10.05 of the Existing Credit Agreement is hereby amended to add the following paragraphs at the end thereof: The Administrative Agent and the Le