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RE: WAIVER REGARDING DELIVERY OF FINANCIAL STATEMENTS

Forbearance Agreement

RE: WAIVER REGARDING DELIVERY OF FINANCIAL STATEMENTS | Document Parties: FOOTSTAR INC | FLEET RETAIL GROUP INC. You are currently viewing:
This Forbearance Agreement involves

FOOTSTAR INC | FLEET RETAIL GROUP INC.

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Title: RE: WAIVER REGARDING DELIVERY OF FINANCIAL STATEMENTS
Date: 4/8/2005
Industry: Retail (Apparel)     Sector: Services

RE: WAIVER REGARDING DELIVERY OF FINANCIAL STATEMENTS, Parties: footstar inc , fleet retail group inc.
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                                                                EXHIBIT 10.13(d)

 

                             FLEET RETAIL GROUP INC.

                                 40 Broad Street

                                Boston, MA 02109

 

                           dated as of January 24, 2005

 

      RE: WAIVER REGARDING DELIVERY OF FINANCIAL STATEMENTS

 

      Reference is hereby made to the AMENDED AND RESTATED DEBTOR-IN-POSSESSION

AND EXIT CREDIT AGREEMENT dated as of June 25, 2004 (as amended and in effect

from time to time, the "Credit Agreement"), among FOOTSTAR, INC., a debtor and

debtor-in-possession, a Delaware corporation, having its chief executive office

at 933 MacArthur Boulevard, Mahwah, NJ 07430, as Lead Borrower for the

Borrowers, being said FOOTSTAR, INC. and FOOTSTAR CORPORATION, a debtor and

debtor-in-possession, a Texas corporation, having its principal place of

business at 933 MacArthur Boulevard, Mahwah, NJ 07430; FLEET NATIONAL BANK and

the other financial institutions party to the Credit Agreement as hereinafter

defined (collectively, the "Lenders"); FLEET NATIONAL BANK, as Administrative

Agent and Swingline Lender, a national banking association having a place of

business at 100 Federal Street, Boston, Massachusetts 02110; FLEET RETAIL GROUP,

INC. (formerly known as Fleet Retail Finance Inc.), as Collateral Agent for the

Lenders, a Delaware corporation having its principal place of business at 40

Broad Street, Boston, Massachusetts 02109; GENERAL ELECTRIC CAPITAL CORPORATION,

as syndication agent; and WELLS FARGO FOOTHILL, LLC, as documentation agent. All

capitalized terms not otherwise defined herein which are defined in the Credit

Agreement shall have the same meanings herein as specified in the Credit

Agreement.

 

      SECTION 1. DELIVERY OF FINANCIAL STATEMENTS. Pursuant to Section 6.1(a) of

the Credit Agreement, the Borrowers are required to deliver to the Agents, no

later than the earlier to occur of (i) January 31, 2005 and (ii) the Exit

Facility Date with respect to the 2002 and 2003 fiscal years of the Lead

Borrower and within 90 days after the end of each fiscal year thereafter, its

consolidated balance sheet and related statements of operations, stockholders'

equity and cash flows as of the end of and for such year. The Borrowers have

informed the Agents that they will be unable to comply with the provisions of

Section 6.1(a) of the Credit Agreement with respect to the 2003 and 2004 fiscal

years of the Lead Borrower. Such noncompliance will constitute an Event of

Default under Section 8.1(1)(d) of the Credit Agreement. In anticipation of such

Event of Default, the Borrowers have requested that the Agents and the Lenders

(i) grant an extension of time in which


 
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