CONFORMED COPY THROUGH FOURTH AMENDMENT,
AS OF DECEMBER 19, 2007
(Revolving Line of Credit)
THIS SECURED LOAN AGREEMENT (“Agreement”) is entered into as of December 27, 1999,
by and between BIBP COMMODITIES, INC. , a Delaware corporation (the “Borrower”) , and CAPITAL
DELIVERY, LTD. , a Kentucky corporation (the “Lender”).
Borrower desires to establish a line of credit with Lender to finance its working capital needs in operating
its business of purchasing cheese in accordance with product specifications for Papa John’s Pizza restaurants and
selling cheese to PJ Food Service, Inc., the wholly owned distribution subsidiary of Papa John’s
International, Inc. (“PJI”), and Lender is willing to make such loan on the terms and conditions set forth herein.
NOW, THEREFORE, Borrower and Lender have agreed as follows:
1 . Loan .
(a) Loan; Promissory Note . Lender agrees to make “Advances” to Borrower
from time to time during the period commencing on the date hereof and ending on the day immediately prior to
the Maturity Date, as defined below, in an aggregate principal amount not to exceed the Maximum Amount, as
defined below (the “Loan”). The Loan shall be evidenced by a Promissory Note (the “Note”) of even date
(b) Extension of Term . Effective December 31, 2000, and continuing effective
each December 31 thereafter, the Maturity Date shall be extended for a period of one (1) year, provided that on
the effective of each such extension there exists then no Event of Default, as defined below, and provided further
that Lender has not given notice to Borrower of nonextension prior to such effective date.
(c) Maximum Principal Balance . The aggregate outstanding principal bala