LOAN AGREEMENT WITH PRESLEY AND STACEY REED AND RAYMOND AND JOAN BONANNO DATED DECEMBER 5, 2011Loan Agreement • December 9th, 2011 • Spicy Pickle Franchising Inc • Retail-eating places • Colorado
This Loan Agreement (the “Agreement”) is entered into as of December 5, 2011 (the “Effective Date”) by and between Spicy Pickle Franchising, Inc., a Colorado corporation (the “Borrower”), Presley Reed and Patricia Stacey Reed (collectively, the “Reeds”), and Raymond BonAnno and Joan BonAnno (collectively, the “BonAnnos”, and together with the Reeds, the “Lenders”). Each of the Borrower, the Reeds, and the BonAnnos are sometimes individually referred to herein as a “Party” and sometimes collectively as the “Parties.”
REVENUE PARTICIPATION AGREEMENT WITH PRESLEY AND PATRICIA STACEY REED AND RAYMOND AND JOAN BONANNO DATED DECEMBER 5, 2011Revenue Participation Agreement • December 9th, 2011 • Spicy Pickle Franchising Inc • Retail-eating places • Colorado
This Revenue Participation Agreement (the “Agreement”) is made as of December 5, 2011 (the “Effective Date”), by and between Spicy Pickle Franchising, Inc., a Colorado corporation (the “Company”), Presley Reed and Patricia Stacey Reed (collectively, the “Reeds”), and Raymond BonAnno and Joan BonAnno (collectively, the “BonAnnos”, and together with the Reeds, the “Lenders”). Each of the Company, the Reeds, and the BonAnnos are sometimes individually referred to herein as a “Party” and sometimes collectively as the “Parties.”
ALT GROUP AND SPICY PICKLE FRANCHISING, INC. MODIFICATION TO SECURED INTEREST AND PROMISSORY NOTES DATED DECEMBER 8, 2011Spicy Pickle Franchising Inc • December 9th, 2011 • Retail-eating places • Colorado
This Agreement (the “Agreement”) is entered into this 8th day of December 2011 by and between ALT, LLC, ALT II, LLC, and ALT III, LLC, all Colorado limited liability companies of common ownership (the “ALT Group”) and Spicy Pickle Franchising, Inc. (the “Company”). This Agreement is intended to modify, amend and otherwise revise the respective secured promissory notes dated March 1, 2008 between the parties, as amended, (the “ALT Notes”) and the ALT Group’s rights and interests in the Security Agreement of February 1, 2011 (the “February Security Agreement”).
SECURITY AGREEMENT WITH PRESLEY AND PATRICIA STACEY REED AND RAYMOND AND JOAN BONANNO DATED DECEMBER 5, 2011Security Agreement • December 9th, 2011 • Spicy Pickle Franchising Inc • Retail-eating places • Colorado
This SECURITY AGREEMENT (the “Agreement”), dated as of December 5, 2011, is by and between Spicy Pickle Franchising, Inc., a Colorado corporation (the “Grantor”), Presley Reed and Patricia Stacey Reed (collectively, the “Reeds”), and Raymond BonAnno and Joan BonAnno (collectively, the “BonAnnos”, and together with the Reeds, the “Secured Parties”). Each of the Grantor, the Reeds, and the BonAnnos are sometimes individually referred to herein as a “Party” and sometimes collectively as the “Parties.” Capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Loan Agreement.
