SUPPLEMENTAL CREDIT FACILITY AGREEMENT/
ADDENDUM NO. 2
March 8, 1999
Avado Brands, Inc.
Corporate Headquarters
Xxxxxxx at Washington
Xxxxxxx, Xxxxxxx 00000
Attn: Xxxxx X. Xxxxx,
Chief Financial Officer
Gentlemen:
We refer to our Supplemental Credit Facility Agreement, dated as of
December 24, 1998, with you, as amended by a Supplemental Credit Facility
Agreement/Addendum dated as of February 26, 1999 ("Supplemental Credit Facility
Agreement"). Capitalized terms used herein and not defined herein shall have the
meanings assigned to them in the Supplemental Credit Facility Agreement.
This Addendum will confirm our agreements with you as follows:
(a) On the date hereof we will make a single disbursement to you under the
Credit Facility in such amount as will cause the outstanding Debt under the
Credit Facility to equal $23,675,017. Such disbursement will be used by you for
the purposes specified on Exhibit A attached hereto.
(b) The Credit Facility will continue to be a non-revolving facility and
you shall have no right to obtain any further disbursements thereunder.
(c) The disbursement under the Credit Facility made pursuant hereto shall
bear interest, payable at maturity, at an interest rate equal to the Base Rate
plus one percent (1%) per annum.
(d) Your Debt under the Credit Facility, as increased hereby, will continue
to be evidenced by the Supplemental Credit Facility Note.
(e) The Maturity Date of the Credit Facility shall be extended from March
15, 1999 to March 31, 1999, on which date the Credit Facility shall terminate
and the entire Borrowing thereunder, together with all accrued and unpaid
interest thereon, shall be due and payable in full.
(f) In consideration of our making to you of the disbursement contemplated
hereby, you shall pay to us on the date hereof, a fee in the amount of $75,000.
By your execution of this Addendum below, you hereby (i) represent and
warrant that no Credit Line Event of Default, or event which with notice or the
passage of time, or both, would constitute a Credit Line Event of Default, has
occurred and is continuing and (ii) ratify and reaffirm all provisions of the
Supplemental Credit Facility Agreement, the Supplemental Credit Facility Note
and all related documents, instruments and agreements (collectively,
"Supplemental Credit Facility Documents").
As amended hereby, all provisions of the Supplemental Credit Facility
Documents shall continue in full force and effect.
Sincerely yours,
WACHOVIA CAPITAL INVESTMENTS, INC.
By:____________________________________
Authorized Officer
Acknowledged and agreed:
AVADO BRANDS, INC.
By:___________________________
Authorized Officer
