SEC Contract Filing

Filing Date: 2024-09-26

Document Content:
<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>d855258dex102.htm
<DESCRIPTION>EX-10.2
<TEXT>
<HTML><HEAD>
<TITLE>EX-10.2</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE" STYLE="line-height:Normal">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.2 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">THE DEBT OBLIGATIONS GOVERNED BY THIS AGREEMENT HAVE BEEN ISSUED WITH ORIGINAL ISSUE DISCOUNT (&#147;OID&#148;) FOR UNITED STATES FEDERAL INCOME TAX PURPOSES.
THE ISSUE PRICE, THE AMOUNT OF OID, THE ISSUE DATE AND THE YIELD TO MATURITY OF THESE DEBT OBLIGATIONS MAY BE OBTAINED BY CONTACTING THE BORROWER PURSUANT TO SECTION 9.6 OF THIS AGREEMENT. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PMC Financial Services Group, LLC </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Amended and Restated Super-Priority Loan and Security Agreement </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">

<TR>

<TD WIDTH="11%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="88%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Borrower:</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><B>Real Good Foods, LLC</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Holdings:</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><B>The Real Good Food Company, Inc.</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Address:</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><B>3 Executive Campus, Suite 155 Cherry Hill, New Jersey 08002</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"><B>Date:</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><B>September&nbsp;20, 2024</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, PMC Financial Services Group, LLC (the &#147;<U>Lender</U>&#148;) and Real Good Foods, LLC (f.k.a. The Real
Good Food Company LLC), a Delaware limited liability company (the &#147;<U>Borrower</U>&#148;), whose chief executive office is located at the above address, are party to that certain Loan and Security Agreement, dated as of June&nbsp;30, 2016 (as
amended, supplemented, or otherwise modified prior to the Restatement Date, the &#147;<U>Existing Loan Agreement</U>&#148;), pursuant to which Lender made (a)&nbsp;Revolving Loans (as defined in the Existing Loan Agreement) in a principal amount as
of the Restatement Date equal to $49,995,514.17 and unpaid interest and expenses in the amount of $1,654,120.87 (the&nbsp;&#147;<U>Existing Revolving Loan</U>&#148;), (b) the COI Equipment Term Loan (as defined in the Existing Loan Agreement) in a
principal amount as of the Restatement Date equal to $9,194,249.20 and unpaid interest and expenses in the amount of $137,783.17&nbsp;(the &#147;<U>Existing COI Equipment Term Loan</U>&#148;) and (c)&nbsp;the Term Loan B (as defined in the Existing
Loan Agreement) in a principal amount as of the Restatement Date equal to $96,206,741.20 and unpaid interest and expenses in the amount of $4,336,833.75 (which amount is reflective of treating the accrued but unpaid 9.00% cash pay interest during
the period from April&nbsp;1, 2024 through September&nbsp;20, 2024 as paid in kind) (the &#147;<U>Existing Term Loan B</U>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, the
Borrower and Lender desire to amend and restate the Existing Loan Agreement with respect to (a)&nbsp;the Existing Revolving Loans and the Existing COI Equipment Loan with this Amended and Restated Super-Priority Loan and Security Agreement (as
amended, restated, amended and restated, supplemented or otherwise modified from time to time, this &#147;<U>Agreement</U>&#148;) and (b)&nbsp;the Existing Term Loan B with that certain Amended and Restated Loan and Security Agreement, dated as of
the Restatement Date, between Borrower and Lender (as amended, supplemented, or otherwise modified, the &#147;<U>Amended and Restated Term Loan B Agreement</U>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>WHEREAS</B>, the Borrower and the Lender desire to consolidate the Existing Revolving Loan and the Existing COI Equipment Loan into one term loan (the
&#147;<U>Loan</U>&#148;). </P>
</DIV></Center>

<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">

<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>THIS AGREEMENT</B> is entered into on the above date between Lender, whose address is 3816 E. La Palma
Avenue, Anaheim, CA 92807, and the Borrower. The Schedule to this Agreement (the &#147;<U>Schedule</U>&#148;) referred herein shall for all purposes be deemed to be a part of this Agreement, and the same is an integral part of this Agreement.
(Definitions of certain terms used in this Agreement are set forth in Section&nbsp;8 below.)