SEC Contract Filing

Filing Date: 2021-07-01

Document Content:
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<TYPE>EX-10.6
<SEQUENCE>7
<FILENAME>d149423dex106.htm
<DESCRIPTION>EX-10.6
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<TITLE>EX-10.6</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 10.6 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">CONSENT AND SEVENTH AMENDMENT TO CREDIT AGREEMENT </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">THIS CONSENT AND SEVENTH AMENDMENT TO CREDIT AGREEMENT (this &#147;<U>Amendment</U>&#148;), dated as of June&nbsp;23, 2021, is by and among
BEACHBODY, LLC, a Delaware limited liability company (the &#147;<U>Borrower</U>&#148;), the Guarantors party hereto, the Lenders party hereto, and BANK OF AMERICA, N.A., as administrative agent (in such capacity, the &#147;<U>Administrative
Agent</U>&#148;) and L/C Issuer. Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed thereto in the Credit Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">W I T N E S S E T H </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS,
the Borrower, the Guarantors, certain banks and financial institutions from time to time party thereto (the &#147;<U>Lenders</U>&#148;) and the Administrative Agent are parties to that certain Credit Agreement dated as of December&nbsp;14, 2018 (as
amended, modified, extended, restated, replaced, or supplemented from time to time, the &#147;<U>Credit Agreement</U>&#148;); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS,
the Loan Parties have informed the Administrative Agent and the Lenders that pursuant to that certain Agreement and Plan of Merger dated as of February&nbsp;9, 2021 (as in effect as of the Amendment Effective Date (as defined below) except for such
amendments as are specifically and separately disclosed in writing to Administrative Agent and consented to in writing by the Administrative Agent, the &#147;<U>Merger Agreement</U>&#148;), by and among Forest Road Acquisition Corp., a Delaware
corporation (&#147;<U>Acquiror</U>&#148;), BB Merger Sub, LLC, a Delaware limited liability company and wholly-owned Subsidiary of Acquiror (&#147;<U>BB Merger Sub</U>&#148;), MFH Merger Sub, LLC, a Delaware limited liability company and
wholly-owned Subsidiary of Acquiror (&#147;<U>Myx Merger Sub</U>&#148;), The Beachbody Company Group, LLC, a Delaware limited liability company (&#147;<U>Existing Parent</U>&#148;), and Myx Fitness Holdings, LLC, a Delaware limited liability company
(&#147;<U>Myx</U>&#148;), the following transactions are anticipated to occur substantially concurrently with one another at a future date to be determined on the terms and conditions set forth in the Merger Agreement (the &#147;<U>Merger Effective
Date</U>&#148;): (i)&nbsp;Myx Merger Sub shall be merged with and into Myx (the &#147;<U>Myx Merger</U>&#148;), with Myx being the surviving entity in the Myx Merger and continuing (immediately following the Myx Merger) as a wholly-owned (directly
or indirectly) Subsidiary of Acquiror, (ii)&nbsp;BB Merger Sub shall be merged with and into Existing Parent (the &#147;<U>BB Merger</U>&#148;), with Existing Parent being the surviving entity in the BB Merger and continuing (immediately following
the BB Merger) as a wholly-owned Subsidiary of Acquiror (the &#147;<U>Surviving BB Entity</U>&#148;), and (iii)&nbsp;immediately following the BB Merger, the Surviving BB Entity shall be merged with and into Acquiror and shall cease to exist, and
Acquiror shall continue as the surviving entity and change its name to The Beachbody Company, Inc. (the &#147;<U>Acquiror Merger</U>,&#148; and, together with the Myx Merger and the BB Merger, the &#147;<U>Mergers</U>&#148;; the Mergers, together
with the other Transactions (as defined in the Merger Agreement) anticipated to occur substantially concurrently with the Mergers on the Merger Effective Date, the &#147;<U>DeSPAC Transactions</U>&#148;); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Loan Parties have informed the Administrative Agent and the Lenders that in connection with the DeSPAC Transactions, following
the Mergers and on or about the Merger Effective Date, Acquiror shall cause the interests that it holds in Myx to be contributed to Borrower such that Myx will become a direct, wholly-owned Subsidiary of the Borrower, (the foregoing transactions,
together with the DeSPAC Transactions, are referred to herein collectively as the &#147;<U>Restructuring and Merger Transactions</U>&#148;); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Loan Parties have requested that the Administrative Agent and the Lenders (a)&nbsp;consent to the Restructuring and Merger
Transactions, (b)&nbsp;amend certain provisions of the Credit Agreement to reflect the Restructuring and Merger Transactions, (c)&nbsp;permit The Beachbody Company, Inc., a Delaware corporation (&#147;<U>New Parent</U>&#148;) to assume Existing
Parent&#146;s obligations as a Guarantor and Loan Party under the Credit Agreement and the other Loan Documents following the consummation of the </P>
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