SEC Contract Filing

Filing Date: 2022-03-11

Document Content:
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<DESCRIPTION>EX-10.16
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<DIV><FONT size="1" style="font-size:1pt;color:white">Execution Version 746154515.7 AMENDED AND RESTATED CREDIT AGREEMENT dated as of February 28, 2022 among DUTCH BROS., LLC, DB MANAGEMENT CO., DB FRANCHISING USA, LLC and BOERSMA BROS. LLC, as Borrowers, The Other Loan Parties Party Hereto, The Lenders Party Hereto and JPMORGAN CHASE BANK, N.A., as Administrative Agent ___________________________ JPMORGAN CHASE BANK, N.A. and BOFA SECURITIES, INC., as Joint Bookrunners and Joint Lead Arrangers BOFA SECURITIES, INC., as Syndication Agent MUFG BANK, LTD and CAPITAL ONE, NATIONAL ASSOCIATION, as Co-Documentation Agents </FONT></DIV>
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<DIV><FONT size="1" style="font-size:1pt;color:white">TABLE OF CONTENTS Page 746154515.7 i ARTICLE I DEFINITIONS .......................................................................................................... 1 SECTION 1.01 Defined Terms. ......................................................................................... 1 SECTION 1.02 Classification of Loans and Borrowings. ............................................... 35 SECTION 1.03 Terms Generally. .................................................................................... 35 SECTION 1.04 Accounting Terms; GAAP. .................................................................... 36 SECTION 1.05 Interest Rates; Benchmark Notifications. .............................................. 36 SECTION 1.06 Pro Forma Adjustments for Acquisitions and Dispositions. .................. 37 SECTION 1.07 Status of Obligations. ............................................................................. 37 SECTION 1.08 Letters of Credit. .................................................................................... 37 SECTION 1.09 Divisions. ............................................................................................... 38 SECTION 1.10 Rounding. ............................................................................................... 38 ARTICLE II THE CREDITS....................................................................................................... 38 SECTION 2.01 Commitments. ........................................................................................ 38 SECTION 2.02 Loans and Borrowings. .......................................................................... 38 SECTION 2.03 Requests for Borrowings. ....................................................................... 39 SECTION 2.04 [Reserved]. ............................................................................................. 40 SECTION 2.05 Swingline Loans. .................................................................................... 40 SECTION 2.06 Letters of Credit. .................................................................................... 41 SECTION 2.07 Funding of Borrowings. ......................................................................... 46 SECTION 2.08 Interest Elections. ................................................................................... 46 SECTION 2.09 Termination and Reduction of Commitments; Increase in Revolving Commitments. ........................................................................ 47 SECTION 2.10 Repayment and Amortization of Loans; Evidence of Debt. .................. 50 SECTION 2.11 Prepayment of Loans. ............................................................................ 52 SECTION 2.12 Fees. ....................................................................................................... 53 SECTION 2.13 Interest. ................................................................................................... 54 SECTION 2.14 Alternate Rate of Interest; Illegality. ...................................................... 55 SECTION 2.15 Increased Costs. ..................................................................................... 57 SECTION 2.16 Break Funding Payments. ...................................................................... 58 SECTION 2.17 Withholding of Taxes; Gross-Up. .......................................................... 59 SECTION 2.18 Payments Generally; Allocation of Proceeds; Sharing of Setoffs. ........ 62 SECTION 2.19 Mitigation Obligations; Replacement of Lenders. ................................. 64 SECTION 2.20 Defaulting Lenders. ................................................................................ 65 SECTION 2.21 Returned Payments. ............................................................................... 67 SECTION 2.22 Banking Services and Swap Agreements. .............................................. 68 ARTICLE III REPRESENTATIONS AND WARRANTIES ..................................................... 68 SECTION 3.01 Organization; Powers. ............................................................................ 68 SECTION 3.02 Authorization; Enforceability. ............................................................... 68 SECTION 3.03 Governmental Approvals; No Conflicts. ............................................... 68 SECTION 3.04 Financial Condition; No Material Adverse Change. .............................. 68 SECTION 3.05 Properties. .............................................................................................. 69 SECTION 3.06 Litig