SEC Contract Filing

Filing Date: 2019-10-21

Document Content:
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<TYPE>EX-10.8
<SEQUENCE>11
<FILENAME>d812149dex108.htm
<DESCRIPTION>EX-10.8
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<TITLE>EX-10.8</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.8 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>BORROWER ASSIGNMENT AND ASSUMPTION AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Assignment and Assumption Agreement (the &#147;<U>Agreement</U>&#148;), dated as of October&nbsp;21, 2019, is among Post Holdings, Inc.,
a Missouri corporation, as assignor (&#147;<U>Assignor</U>&#148;), BellRing Brands, LLC, a Delaware limited liability company, as assignee (&#147;<U>Assignee</U>&#148;) and Morgan Stanley Senior Funding, Inc., as administrative agent (in such
capacity and together with its successors and assigns, the &#147;<U>Administrative Agent</U>&#148;). </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">RECITAL </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Assignor, the Lenders and the Administrative Agent are parties to that certain Bridge Facility Agreement, dated as of October&nbsp;11, 2019,
(as amended, restated, supplemented or otherwise modified through the date hereof, the &#147;<U>Bridge Facility Agreement</U>&#148;), under which the Lenders have provided bridge loans to the Assignor. In connection with the contribution to the
Assignee of certain assets of Assignor, Assignee will become the Borrower under the Bridge Facility Agreement upon the execution and delivery of this Agreement (and satisfaction of the conditions set forth in <U>Section</U>&nbsp;4.02 (Conditions
Precedent to the Debt Assumption) of the Bridge Facility Agreement) to the Administrative Agent. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">AGREEMENT </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In consideration of the mutual promises and covenants contained in this Agreement and for other valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties agree as follows. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 1. <U>Definitions</U>. Capitalized terms defined in
the Bridge Facility Agreement and not defined herein are used herein (including in the Recital hereto) with the meanings so defined. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">SECTION 2. <U>Assignment and Assumption</U>. Subject to the satisfaction of the conditions precedent to the Debt Assumption set forth in
<U>Section</U>&nbsp;4.02 (Conditions Precedent to the Debt Assumption) of the Bridge Facility Agreement, including (without limitation) the execution and delivery of this Agreement by the Assignor and the Assignee, effective as of the date hereof
(the &#147;<U>Assumption Date</U>&#148;) immediately upon the execution and delivery of this Agreement: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">2.1 <U>Assignment and
Assumption</U>. Except as otherwise provided in <U>Section</U>&nbsp;2.5 below, Assignor hereby irrevocably assigns and transfers to Assignee all of Assignor&#146;s rights, title and interests and duties, liabilities and obligations under the Bridge
Facility Agreement and the other Loan Documents and Assignee hereby irrevocably and unconditionally accepts such rights, title and interests and assumes such duties, liabilities and obligations from Assignor on the Assumption Date on the terms
contained herein, excluding any claims, liabilities or obligations arising from any failure of Assignor to perform any of its covenants, agreements, commitments and/or obligations to be performed by Assignor on or prior to the Closing Date under the
Bridge Facility Agreement or any other Loan Document; provided, for the avoidance of doubt, that interest accrued under the Bridge Facility Agreement or any other Loan Document, whether prior to, on, or after the date hereof, shall be the sole
obligation of the Assignee. For the avoidance of doubt, fees, costs and expenses (including any indemnification obligations) accruing up to and including the Closing Date shall be paid by the Assignor, and fees, costs and expenses (including any
indemnification obligations) accruing after the Closing Date shall be assumed and paid by the Assignee. The Assignee hereby confirms and agrees that the Bridge Facility Agreement and the other Loan Documents are, and shall continue on and after the
Assumption Date to be, in full force and effect in accordance with their respective terms and are hereby ratified and confirmed by the Assignee in all respects. If the Assignor makes a payment of principal, interest or fees to a Lender under the
Loans on or after the Assumption Date, </P>
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Assignee shall become liable to the Assignor for reimbursement of such payment on the same terms under which the Assignee would be liable to the Lenders under the Bridge Facility Agreement;
provided that, notwithstanding the foregoing, all rights of the Assignor against the Assignee in respect of such liability and reimbursement shall in all respects be subordinated and junior in right of payment to the prior indefeasible paym