SFX ENTERTAINMENT, INC. New York, New York 10022
Exhibit 10.1
000 Xxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
April 2, 2014
React Presents, Inc.
Clubtix, Inc.
Xxxxxxx Xxxxxxxx
Xxxxx Xxxx
000 Xxxxx Xxx Xxxxxx, Xxxxx 000
Xxxxxxx, Xxxxxxxx 00000
Gentlemen:
Re: Amendment to Asset and Membership Interest Contribution Agreement regarding Letter of Credit
Reference is made to that certain Asset and Membership Interest Contribution Agreement dated as of February 18, 2014 as amended as of March 14, 2014 (the “Contribution Agreement”), by and among SFX Entertainment, Inc., a Delaware corporation (“Parent”), SFX- React Operating LLC, a Delaware limited liability company wholly owned by Parent (“Acquiror”, and together with Parent, the “Acquiring Parties”), React Presents, Inc., an Illinois corporation (“React”), Clubtix, Inc., an Illinois corporation (“Clubtix”, and together with React, the “Transferors”), XXXXX XXXX, an individual resident of Illinois and a stockholder of React and Clubtix (“King”), and XXXXXXX XXXXXXXX, an individual resident of Indiana and a stockholder of React and Clubtix (“Xxxxxxxx”, and together with King the “Stockholders”). All capitalized terms not otherwise defined herein shall have the meanings given to such terms in the Contribution Agreement.
In consideration of the mutual covenants and agreements herein contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:
1. Amendment to Contribution Agreement Regarding Letter of Credit. Section 5.16 of the Contribution Agreement is hereby deleted; it being understood and agreed by the parties that the Letter of Credit shall not be required and that all references in the Contribution Agreement to the Letter of Credit, including the posting and delivery thereof at Closing, shall be deleted or disregarded as appropriate to effectuate the purpose and intent of this paragraph.
2. Full Force and Effect. Except as set forth above, the Contribution Agreement remains in full force and effect.
3. Miscellaneous. This letter agreement is subject to all of the terms, conditions and limitations set forth in Article 11 of the Contribution Agreement, which sections are hereby incorporated into this letter agreement, mutatis mutandis, as if they were set forth in their entirety herein.
[Signature Page Follows]
IN WITNESS WHEREOF, the Parties hereto caused this Agreement to be duly executed by their respective authorized officers as of the date first written above.
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a Delaware corporation | |
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By: |
/s/ Xxxxxxx Xxxxxx |
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Name: |
Xxxxxxx Xxxxxx |
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Title: |
Vice Chairman |
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SFX-REACT OPERATING LLC | |
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a Delaware limited liability company | |
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By: |
/s/ Xxxxxxx Xxxxxx |
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Name: |
Xxxxxxx Xxxxxx |
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Title: |
Vice President |
[Signatures continue on following page.]
[Signature Page to SFX-React Letter Agreement re Letter of Credit]
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REACT PRESENTS, INC. | |
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an Illinois corporation | |
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By: |
/s/ Xxxxx Xxxx |
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Name: |
Xxxxx Xxxx |
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Title: |
Authorized Signatory |
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CLUBTIX INC. | |
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an Illinois corporation | |
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By: |
/s/ Xxxxx Xxxx |
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Name: |
Xxxxx Xxxx |
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Title: |
Authorized Signatory |
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[Signatures continue on following page.]
[Signature Page to SFX-React Letter Agreement re Letter of Credit]
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XXXXX XXXX |
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an individual resident of Illinois |
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/s/ Xxxxx Xxxx |
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XXXXXXX XXXXXXXX |
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an individual resident of Indiana |
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/s/ Xxxxxxx Xxxxxxxx |
[Signature Page to SFX-React Letter Agreement re Letter of Credit]
