FIRST AMENDMENT TO LOAN AGREEMENT

Exhibit 10.1

Portions of this Exhibit marked by [***] have been omitted pursuant to a Confidential Treatment Request and filed separately with the Securities and Exchange Commission

FIRST AMENDMENT TO LOAN AGREEMENT

THIS FIRST AMENDMENT TO LOAN AGREEMENT (“Amendment”) is made and entered into as of the 27th day of July, 2016, between NEW PRIVATE RESTAURANT PROPERTIES, LLC, a Delaware limited liability company (“Borrower”), and XXXXX FARGO BANK, NATIONAL ASSOCIATION, a national banking association (together with its successors and assigns, “Lender”).

R E C I T A L S:

WHEREAS, Borrower and Lender entered into that certain Loan Agreement dated as of February 11, 2016 (the “Loan Agreement”) in connection with that certain loan in the original principal amount of $300,000,000.00 made by Lender to Borrower;

WHEREAS, Borrower has requested that Lender make an additional advance of the Loan (as defined in the Loan Agreement) in the amount of $69,511,522.46 (the “Additional Advance”) to Borrower on the date of this Amendment;

WHEREAS, the Outstanding Loan Balance (as defined in the Loan Agreement) is $189,244,477.54 as of the date of this Amendment prior to making the Additional Advance; and

WHEREAS, Lender and Borrower desire to amend the Loan Agreement as set forth herein.

NOW THEREFORE, Borrower and Lender hereby agree as follows:

1.    Lender agrees to make the Additional Advance to Borrower on the date of this Amendment.  The Note (as defined in the Loan Agreement) shall evidence Borrower’s obligation to pay the Additional Advance.

2.    The first recital of the Loan Agreement is hereby amended in its entirety to read as follows:

“A.    Borrower desires to finance the one hundred five (105) properties described on Exhibit A attached hereto (all such properties, together with all Improvements and personal property owned by Borrower thereon, collectively, the “Properties”).”

3.    Exhibit A to the Loan Agreement is replaced with Exhibit A attached hereto.

4.    Section 9.5(d) of the Loan Agreement is hereby amended in its entirety to read as follows:

“(d) if after the end of the twelfth (12th) full calendar month of the Initial Term beginning with the first (1st) day of the thirteenth (13th) full calendar month thereof the then Outstanding Loan Balance exceeds the following maximum thresholds (“Maximum Threshold”); provided, however, if the Extension Option is not exercised, the then Outstanding Loan Balance and all other amounts then due and payable hereunder and under the other Loan Documents shall be payable

FIRST AMENDMENT TO LOAN AGREEMENT
New Private Restaurant Properties, LLC

Obligor No.: 7829920036

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on the Initial Maturity Date. If the Extension Option is exercised, the then Outstanding Loan Balance and all other amounts then due and payable hereunder and under the other Loan Documents shall be payable on the Extension Maturity Date:

Months 13-18:	$219,942,600.00
Months 19-24:	$160,000,000.00
Months 25-30:	$110,000,000.00
Months 31-35:	$60,000,000.00
Maturity	$0.00

(and the Blocked Condition shall continue until such time as the Outstanding Loan Balance is reduced below the applicable Maximum Threshold).

The existence or continuation of a Blocked Condition shall be a Cash Trap Event under the Cash Management Agreement.”

5.    Borrower shall deliver to Lender, prior to the Additional Advance, (i) opinions of legal counsel in form and content reasonably satisfactory to Lender with respect to this Amendment, (ii) executed amendments to the Mortgages (as defined in the Loan Agreement) reasonably satisfactory to Lender to reflect the Additional Advance, (iii) commitments for endorsements to the mortgage loan title insurance policies issued to Lender in connection with the Loan reasonably satisfactory to Lender to reflect the Additional Advance and (iv) such additional items as are reasonably requested by Lender in connection with the Additional Advance.

6.    Borrower shall pay to Lender an advance fee in the amount of $521,336.42 on the date of this Amendment.

7.    Borrower shall pay all of Lender’s fees and expenses incurred in connection with the execution and delivery of this Amendment including, without limitation, reasonable attorneys fees and expenses.

8.    Except as hereby modified, the terms and conditions of the Loan Agreement remain in full force and effect.

9.    This Amendment shall be deemed to be a contract made under, and for all purposes shall be construed in accordance with, the laws of the State of New York.

10.    This Amendment may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument.

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FIRST AMENDMENT TO LOAN AGREEMENT
New Private Restaurant Properties, LLC

Obligor No.: 7829920036

CHAR1\1473962v4

IN WITNESS WHEREOF, Borrower and Lender have executed this Amendment as of the date first written above.

BORROWER:
NEW PRIVATE RESTAURANT PROPERTIES, LLC, a Delaware limited liability company
By:	/s/ Xxxxxxx A’Xxxxx
Name:	Xxxxxxx A’Xxxxx
Title:	Vice President and Treasurer

LENDER:
XXXXX FARGO BANK, NATIONAL ASSOCIATION
By:	/s/ Xxxxxxx Xxxx
Name:			Xxxxxxx Xxxx
Title:		Managing Director

FIRST AMENDMENT TO LOAN AGREEMENT
New Private Restaurant Properties, LLC

Obligor No.: 7829920036

CHAR1\1473962v1

The undersigned Guarantor (as defined in the Loan Agreement) acknowledges and consents to all of the terms and conditions of this Amendment and agrees that this Amendment and any documents executed in connection herewith do not operate to reduce or discharge such Guarantor’s obligations under the Loan Documents, including any guaranty or indemnity agreements executed by such Guarantor.

GUARANTOR:
OSI HOLDCO I, INC., a Delaware corporation
By:	/s/ Xxxxx X. Xxxxxxxx
Name:			Xxxxx X. Xxxxxxxx
Title:		Assistant Secretary

FIRST AMENDMENT TO LOAN AGREEMENT
New Private Restaurant Properties, LLC

Obligor No.: 7829920036

CHAR1\1473962v1

EXHIBIT A LIST OF PROPERTIES AND ALLOCATED LOAN AMOUNTS

Unit #	Brand	Address	City	ST	Allocated Loan Amount
1264	OBS	0000 Xxxx Xxxxx Xxxxx	Xxxxxx	XX	[***]
0314	OBS	0000 Xxxxx Xxxxxxxxx	Xxxx	XX	[***]
0325	OBS	00 Xxxxx Xxxxxxx 00	Xxxxxx Xxxxx	XX	[***]
0326	OBS	0000 X. XxXxxxxxx Xxxx	Xxxx	XX	[***]
5301	CIG	0000 Xxxxx Xxxxxxxxx	Xxxx	XX	[***]
1001	CIG	00000 X. Xxxxxxxxx Xxxxxx	Xxxx Xxxxx	XX	[***]
1002	CIG	0000 X. Xxxxxxx Xxxxx	Xxxxxx	XX	[***]
1008	CIG	0000 XX Xxxxxxx Xxxxxxx	Xxxxxx	XX	[***]
1022	OBS	0000 XX Xxxxxxx Xxxx	Xxxxx	XX	[***]
1023	OBS	00000 X. 00xx Xxxxxx	Xxxxxx Xxxxxxx	XX	[***]
1025	OBS	000 Xxxxxxx Xxxxxxx Xxxx.	Xxxxxx Xxxxx	XX	[***]
1028	OBS	0000 Xxxxxxxxxx Xxx	Xxxxxx Xxxx	XX	[***]
1029	OBS	0000 Xxxxxx Xxxxxxxxx	Xxxxxx Xxxxxx	XX	[***]
1030	OBS	0000 Xxx Xxxx Xxxxxxxxx	Xxxxxxxxxxxx	XX	[***]
1033	OBS	0000 Xxxxx Xxxx	Xxxxxx Xxxx	XX	[***]
1036	OBS	000 X. 00xx Xxxxxx	Xxxxxx Xxxx	XX	[***]
1061	OBS	000 Xxxxxxx Xxxxx	Xxxxxxx	XX	[***]
1063	OBS	0000 X.X. Xxxxxxx 000	Xxxxxxxx	XX	[***]
2001	FPS	0000 X. Xxx Xxxxx Xxxx.	Xxxxx	XX	[***]
2015	OBS	0000 Xxxxxxx 00 Xxxx	Xxxxxxxxx	XX	[***]
6006	CIG	0000 Xxxxxxxxxx Xxxxx	Xxxxx Xxxxxxx	XX	[***]
6007	CIG	00 Xxxxxxxx Xxxxxx	Xxxxxxx Xxxxxx	XX	[***]
6013	CIG	0000 X. Xxxxxxx Xxxxxx	Xxxxxxxx	XX	[***]
6020	CIG	0000 Xxxxxx Xxxxxxxxx	Xxxxx Xxxxxxxxxx	XX	[***]

Portions of this Exhibit marked by [***] have been omitted pursuant to a Confidential Treatment Request and filed separately with the Securities and Exchange Commission

FIRST AMENDMENT TO LOAN AGREEMENT
New Private Restaurant Properties, LLC

Obligor No.: 7829920036

CHAR1\1473962v4

Unit #	Brand	Address	City	ST	Allocated Loan Amount
6029	CIG	0000 XX Xxxxxxx 0	Xxxx Xxxxx	XX	[***]
6035	CIG	000 0xx Xxxxxx XX	Xxxxxx Xxxxx	XX	[***]
2014/6052	OBS/CIG	0000-0000 Xxxxxxxxx Xxxxx	Xxxxx Xxxx	XX	[***]
2017/6048	OBS/CIG	00000-00000 Xxxxxxx Xxxx	Xxxxx	XX	[***]
1101	CIG	0000 Xxxxx Xxxxx Xxxxx	Xxxxx	XX	[***]
1102	CIG	0000 Xxxxxx Xxxxxxx Xxxx.	Xxxxxxxx	XX	[***]
1108	CIG	0000 Xxxxx Xxxx Xxxx	Xxxxxx	XX	[***]
1119	OBS	000 Xxxxxx Xxxxxxx Xxxx.	Xxxxxxxx	XX	[***]
1125	OBS	0 Xxxxxxxxx Xxxxxxx Xxxx.	Xxxxxx	XX	[***]
1134	OBS	000 X. Xxxxxxxx Xxxxxxxxx	Xxxxxx	XX	[***]
1135	OBS	0000 Xxxx Xxxxx Xxxxx	Xxxxxxxx	XX	[***]
1611	OBS	0000 0xx Xxxxxx XX	Xxxxx Xxxxxx	XX	[***]
1414	OBS	0000 X. Xxxxx Xxxxxx	Xxxxxxxxxx	XX	[***]
1416	OBS	00000 X. Xxxxxx Xxxxxx	Xxxxxx Xxxx	XX	[***]
1418	OBS	0000 X. Xxxxx Xxxxxx	Xxxxxxxx	XX	[***]
1516	OBS	0000 X. 0xx Xxxxxx	Xxxxxxxxxxx	XX	[***]
1520	OBS	0000 Xxxx Xxxxx	Xxxxxxxxxxxx	XX	[***]
1521	OBS	0000 X. Xxxx Xxxx	Kokomo	IN	[***]
1813	OBS	0000 Xxxxxxxxx Xxxxx	Xxxxxxxxxx	XX	[***]
1851	OBS	0000 Xxxxxxxxxxx Xxxx	Xxxxxxx Xxxxx	XX	[***]
1961	OBS	0000 Xxxxxxx Xxxx	Xxxxxxx Xxxx	XX	[***]
6903	CIG	0000 Xxxxxxx Xxxxxx Xxxx	Xxxxxxxxx	XX	[***]
2139	OBS	0000 Xxxx Xxxx Xxxxxxx	Xxxxxxxx Xxxx	XX	[***]
7101	CIG	0000 Xxxx Xxxx Xxxxxxx	Xxxxxxxx Xxxx	XX	[***]
2315	OBS	0000 00xx Xxxxxx XX	Xxxxxxxx	XX	[***]
2320	OBS	0000 X. 00 Xxxx Xxxx	Xxxxxxx Xxxxxxx	XX	[***]
2321	OBS	0000 Xxxxxxxx Xxxx	Xxxxxxx	XX	[***]

Portions of this Exhibit marked by [***] have been omitted pursuant to a Confidential Treatment Request and filed separately with the Securities and Exchange Commission

CHAR1\1473962v4

Unit #	Brand	Address	City	ST	Allocated Loan Amount
2325	OBS	0000 Xxxxx Xxxxxxx	Xxxxxxxxx	XX	[***]
2326	OBS	0000 Xxxxxxxxxx Xxxxxx Xx	Xxxxxxxx	XX	[***]
2411	OBS	0000 Xxxxxxxxxxx Xxxxx XX	Xxxx Xxxxxx	XX	[***]
2619	OBS	0000 X. 00xx Xxxxxx	Xxxxxx	XX	[***]
3402	CIG	00000 X Xxxxxxxxxxxx Xxxx	Xxxxxxxx	XX	[***]
3420	CIG	0000 Xxxxxxx Xxxxxxxxx	Xxxxxxx	XX	[***]
3448	OBS	000 X. Xxx Xxxx Xxxx	Xxxxxxxx	XX	[***]
3458	OBS	0000 Xxxxxx Xxxxxxxxx	Xxxxxxx Xxxx	XX	[***]
3460	OBS	000 Xxxxxxxxx Xxxxx	Xxxxxxxxxxxxxx	XX	[***]
3102	CIG	000 Xxxxx 00 Xxxx	Xxxxx Xxxxx	XX	[***]
3110	OBS	000 Xxxx Xxxxx Xxxx	Xxxxxx Xxxx	XX	[***]
3114	OBS	0000 X.X. Xxxxx 0 Xxxxx	Xxx Xxxxxx	XX	[***]
3214	OBS	0000 X. Xxxxxx Xxxxxx	Xxx Xxxxx	XX	[***]
3217	OBS	0000 X. Xxxxx Xxxx	Xxxxx Xxx Xxxxx	XX	[***]
3220	OBS	0000 X. Xxx Xxxxx Xxxx.	Xxx Xxxxx	XX	[***]
3633	OBS	0000 Xxxxx Xxxx	Xxxxx	XX	[***]
3662	OBS	000 Xxxxxxxxxx Xxxxx	Xxxxxxx	XX	[***]
3915	OBS	0000 X. Xxxxx Xxxxxxx Xx.	Xxxxxxxxxx	XX	[***]
3951	OBS	0000 XxXxxxxx Xxxx	Xxxxxxxxxx	XX	[***]
3952	OBS	000 Xxxxxxxx Xxxxx	Xxxxxxx	XX	[***]
3917/8908	OBS/CIG	000 Xxxxx Xxxxxx Xxxx.	Xxxxxxxxx	XX	[***]
4117	OBS	000 Xxxxxxxxxx Xxxxxxxxx	Xxxxxxxx	XX	[***]
4318	OBS	0000 Xxxxxxxxxx Xxxxx	Xxxxxxxxxx	XX	[***]
4319	OBS	0000 Xxxxx Xxxxxxx Xxxx.	Xxxxxxxxxxx	XX	[***]
4324	OBS	0000 Xxxxxxxx Xxxx	Xxxxxxx	XX	[***]
4350	OBS	000 Xxxx Xxxx Xxxxxxx	Xxxxxxxxx	XX	[***]
9301	CIG	000 X. Xxxxx'x Xxxx	Xxxxxxxxx	XX	[***]

Portions of this Exhibit marked by [***] have been omitted pursuant to a Confidential Treatment Request and filed separately with the Securities and Exchange Commission

CHAR1\1473962v4

Unit #	Brand	Address	City	ST	Allocated Loan Amount
4401	CIG	00000 Xxxx Xxxxxxx	Xxxxxxx	XX	[***]
4403	CIG	00000 Xxxxxxxx Xxxxxxxxx	Xxxxxx	XX	[***]
4404	CIG	0000 Xxxxxxx 0	Xxxxx Xxxx	XX	[***]
4405	CIG	00000 X. Xxxxxxxxxx 00	Xxx Xxxxxxx	XX	[***]
4406	CIG	00000 Xxxxxxxxxx 00 Xxxxx	Xxx Xxxxxxxxx	XX	[***]
4418	OBS	0000 Xxxxx Xxxxx Xxxxxx	Xxxxxxx Xxxxxxx	XX	[***]
4422	OBS	00000 Xxxxxxxx Xxxxxxxxx	Xxxxxx	XX	[***]
4424	OBS	0000 X-00 Xxxxx	Xxxxxxxx	XX	[***]
4429	OBS	0000 Xxxxx XX 00	Xxx Xxxxxx	XX	[***]
4454	OBS	0000 Xxxxx Xxxxxxxx Xxxx.	Xxxxxxxx	XX	[***]
4461	OBS	0000 X. Xxxxxxxx Xxxxxxx	Xxxxxxxxxx	XX	[***]
4462	OBS	0000 X. Xxxx 000 Xxxxx	Xxxxxxx	XX	[***]
4463	OBS	0000 X. Xxxxxxxxxx Xxx 00	Xxxxxxxx	XX	[***]
4464	OBS	0000 Xxxxx Xxxx 000	Xxxxxxx	XX	[***]
4466	OBS	000 Xxxxx X-00 Xxxx	Xxxxxx	XX	[***]
4467	OBS	000 Xxxx Xxxx 000	Xxxxxxxx	XX	[***]
4469	OBS	0000 X. Xxxxxxx Xxxxx Xxxxx	Xxxxxxx	XX	[***]
4470	OBS	00000 Xxxxxxx Xxxx	Xx Xxxx	XX	[***]
4473	OBS	0000 Xxxxxxxx Xxx	Xxx Xxxxxx	XX	[***]
4474	OBS	0000 Xxxxxxxxx Xxxxx	Xxxxxxx	XX	[***]
4478	OBS	00000 Xxxxx Xxxxxxx	Xxxx Xxxxx	XX	[***]
4716	OBS	0000 X. Xxxxx Xxxxxx	Xxxxxxxx	XX	[***]
4717	OBS	0000 Xxxxxxxx Xxxxx	Xxxxxxxxxxxxxxx	XX	[***]
4724	OBS	000 Xxxxxxxxxx Xxxxxxxxx	Xxxxxxxxxxxx	XX	[***]
4762	OBS	0000 Xxxxxx Xxxxxxxx Xx.	Xxxxxxxxx	XX	[***]
4813	OBS	000 Xxxxxxx Xxxxx	Xxxxxxxx	XX	[***]
4961	OBS	000 Xxxxxx Xxxx	Xxxxxxx	XX	[***]

Portions of this Exhibit marked by [***] have been omitted pursuant to a Confidential Treatment Request and filed separately with the Securities and Exchange Commission

CHAR1\1473962v4