EX-10.82 4 calbeach_ex10-82.txt Exhibit 10.82 AMENDMENT NO. 1 TO NOTE PURCHASE AGREEMENT DATED MARCH 30, 1999 This Amendment No. 1 to Note Purchase Agreement (the "Amendment") is entered into as of this 6 day of March, 2002, and is intended to amend (1) that certain Note Purchase Agreement, dated as of March 30, 1999 (the "Agreement") between California Beach Restaurants, Inc., a California corporation (the "Company"), and certain purchasers listed on Schedule 1.1 thereto, and (2) the 5% Convertible Subordinated Notes due March 25, 2003, in the principal amount of $1,800,000, issue pursuant to the Agreement, plus $90,000 in principal amount of PIK Notes issued effective March 30, 2001 ("Notes"). Capitalized terms in this Amendment shall have the same meaning as set forth in the Agreement. In consideration of the agreements herein, the Company and the Purchasers/Noteholders set forth on the signature page hereof agree as follows 1. AMENDMENT TO AGREEMENT. In accordance with Section 12.1 of the Agreement, Purchasers holding in excess of 51% of the Notes, as indicated on the signature page hereof, have agreed to this Amendment, which shall become effective upon the signature of the Company and the signatures of Purchasers/Noteholders holding in excess of 51% of the Notes, whereupon the Agreement shall be amended as herein provided, and the Notes (including the PIK Notes Issued effective March 30, 2001) shall be amended as hereinafter provided, If less than all Purchasers/ Noteholders execute this Amendment, the non-executing Purchasers/Noteholders shall be provided with a copy of this Amendment as executed, and this Amendment shall be effect ye as of the date last written on the signature page hereof. 2. AMENDMENT TO NOTES. Section 2 of the Notes is hereby amended to eliminate the Early Maturity Date, to extend the Maturity Date and to increase the interest rate on a portion of the principal outstanding under the Notes from 5% to 7.5% per annum, commencing April 1, 2002 and 2003, as follows "2. Maturity. This Note may not be voluntarily prepaid by the Company as to principal and interest without the consent of Noteholder and will mature as to principal and accrued interest on October 1, 2003 (the "Maturity Date"). Notwithstanding Section 1.1 hereof, the interest shall be increased to Seven and "One-Half Percent (7.5%) per annum (1) with respect to fifty percent (50%) of the principal amount of this Note, for the period commencing April 1, 2002 until March 31, 2003; and (2) with respect to one hundred percent (100%) of the principal amount of this Note for the period commencing April 1, 2003 until the Maturity Date, but in no event shall such interest rate exceed the maximum lawful interest rate permitted by the laws of the State of California, subject to the provisions of Section 1.1 hereof. IN WITNESS WHEREOF, the parties have caused this Amendment to be duly executed as of the day and year last below written. CALIFORNIA BEACH RESTAURANTS, INC. By: /s/ Alan Redhead -------------------------------------- Alan Redhead, President Address: 17383 Sunset Boulevard, Suite 140 Pacific Palisades, CA 90272 Attn: President
PRINCIPAL AMOUNT NAME OF NOTEHOLDER SIGNATURE OF NOTEHOLDER OF NOTES DATE Jefferson W. Asher, Trustee of Trust A under the Asher Family Trust dated 8-5-82 By: /s/ Jefferson W. Asher Jr. $26,250.00 Dated: _____ Its: ________________________ Eli Broad _____________________________ $525,000.00 Dated: _____ John C. Cushman III, Trustee of the Cushman Family Trust By: _________________________ $157,500.00 Dated: _____ Its: ________________________ Howard W. Higholt, M.D. _____________________________ $105,000.00 Dated: _____ PRINCIPAL AMOUNT NAME OF NOTEHOLDER SIGNATURE OF NOTEHOLDER OF NOTES DATE Arnold Phillip Lieberman and Corinne M. Lieberman, Trustees of the Marital Trust under Declaration of the Lieberman Family Trust, dated August 2, 1989 By: /s/ signature $105,000.00 Dated: _____ Its: ________________________ Charles W. Luther and Joan B. Luther, Trustees of the Luther Trust By: _________________________ $52,500.00 Dated: _____ Its: ________________________ Alan Redhead /s/ Alan Redhead $105,000.00 Dated: _____ Sand and Sea Partners By: /s/ signature $813,750.00 Dated: _____ Its: GP Total $1,890,000.00 =============