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Credit Agreement

Loan Agreement

Credit Agreement | Document Parties: Bank of America, N.A | Sassy Doo!, Inc | Claire?s Netherlands B.V You are currently viewing:
This Loan Agreement involves

Bank of America, N.A | Sassy Doo!, Inc | Claire?s Netherlands B.V

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Title: Credit Agreement
Date: 9/11/2009
Industry: Apparel/Accessories     Law Firm: Morgan Lewis;Lord Bissell     Sector: Consumer Cyclical

Credit Agreement, Parties: bank of america  n.a , sassy doo!  inc , claire?s netherlands b.v
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Exhibit 10.1

Disclosure Schedules to Credit Agreement, dated as of May 29, 2007

1


 

SCHEDULE 1.01 A

Certain U.S. Subsidiaries

None

2


 

SCHEDULE 1.01B

Mortgaged Properties

Hoffman Estates, 2400 West Central Road, 60195 IL

3


 

SCHEDULE 1.01C

Existing Letters of Credit

That certain standby letter of credit (No. 186412845) dated as of April 2, 2004, issued by Bank of America, N.A. in favor of The Travelers Indemnity Company.

4


 

SCHEDULE 1.01D

Immaterial Subsidiaries

Sassy Doo!, Inc.
Claire’s Puerto Rico Corp.
Claire’s Canada Corp.
Afterthoughts Merchandising Corp.
Claire’s Holding GMBH
WhiteClaire’s Accessorros Portugal Unipessol LDA
Claire’s Netherlands B.V.
Claire’s Distribution B.V.
Claire’s International Europe, Ltd
CSI Luxembourg S.a.r.l.
BMS Fashion Corp
Claire’s China Services Trust
Claire’s Austria Gmbh
Claire’s Switzerland Gmbh
Claire’s Germany Gmbh
Claire’s Belgium B.V.B.A.
Claire’s Accessories Spain, S.L.
Femina Hgmbh Co Kg
Femina Hgmbh
RSI International Ltd.

5


 

SCHEDULE 1.01E

Refinanced Indebtedness

That certain Loan and Security Agreement dated as of March 31, 2004 among Fleet Retail Group, Inc., Fleet National Bank and Claire’s Stores, Inc., as lead borrower for BMS Distributing Corp., Claire’s Boutiques, Inc., CBI Distributing Corp. and Claire’s Puerto Rico Group.

6


 

SCHEDULE 1.01F

Unrestricted Subsidiaries

None

7


 

SCHEDULE 1.01G

Certain EBITDA Addbacks

1. any non-recurring costs, expenses or charges incurred in connection with reports and other services provided by consultants to the Borrower;

2. amortization and lease expense relating to Borrower’s Synthetic Lease Obligations;

3. settlement amounts paid and legal expenses incurred in connection with:

(a) Wyakie Coleman vs. Claire’s Stores, Inc., Claire’s Boutiques, Inc., d/b/a Afterthoughts, Claire’s, Claire’s Accessories, Icing and/or Icing by Claire’s; and Does 1 to 100, inclusive (the “Coleman Case”). This wage class action is in a very preliminary state, and no class has been certified at this time. Accordingly, the Borrower is not able to make an assessment of the materiality of the litigation at this time; and

(b) Debra Gring and Raajna Naidu vs. Claire’s Boutiques, Inc. and Does 1 to 100, inclusive (the “Gring Case”). The Borrower is in the process of negotiating a settlement of this wage class action litigation for a one-time payment.

8


 

SCHEDULE 1.01H

Cost Savings

1.

 

insurance cost savings and

 

2.

 

changes in executive travel policies

9


 

SCHEDULE 2.01

Commitments

 

 

 

 

 

 

 

 

 

Lender Name

 

Revolving Commitment

 

Term B Loan Commitment

Credit Suisse

 

$

44,000,000

 

 

$

556,000,000

 

Bear, Stearns & Co. Inc.

 

$

33,000,000

 

 

$

417,000,000

 

Lehman Commercial Paper Inc.

 

$

33,000,000

 

 

$

417,000,000

 

LaSalle Bank

 

$

20,000,000

 

 

$

15,000,000

 

Sumitomo Mitsui Banking Corporation

 

$

20,000,000

 

 

$

15,000,000

 

Mizuho Corporate Bank Ltd.

 

$

20,000,000

 

 

$

5,000,000

 

SunTrust Bank

 

$

15,000,000

 

 

$

5,000,000

 

Natixis

 

$

15,000,000

 

 

$

20,000,000

 

Total

 

$

200,000,000

 

 

$

1,450,000,000

 

10


 

SCHEDULE 3.01

Organization and Good Standing

None

11


 

SCHEDULE 3.04

Government Approvals

None

12


 

SCHEDULE 3.07(b)

Possession under Leases

None

13


 

SCHEDULE 3.07(c)

Intellectual Property

None

14


 

SCHEDULE 1.01C

Subsidiaries

 

 

 

 

 

Name

 

Jurisdiction

 

Owner of Equity Interests

Claire’s Stores, Inc.

 

Florida

 

100% Holdings

Sassy Doo! Inc.

 

Delaware

 

100% Claire’s Stores, Inc.

Claire’s Puerto Rico Corp.

 

Delaware

 

100% Claire’s Stores, Inc.

CBI Distributing Corp

 

Delaware

 

56% Claire’s Stores, Inc.
44% Claire’s Boutiques, Inc.

Claire’s Boutiques, Inc.

 

Colorado

 

100% Claire’s Stores, Inc.

Claire’s Canada Corp.

 

Delaware

 

100% Claire’s Stores, Inc.

Afterthoughts Merchandising Corp.

 

Delaware

 

100% Claire’s Stores, Inc.

Claire’s Holding GMBH

 

Switzerland

 

100% Claire’s Stores, Inc.

CSC Limited Partnership

 

Canada

 

90% Claire’s Stores, Inc.
10% Claire’s Canada Corp.

Claire’s Stores Canada Corp.

 

Canada

 

100% Claire’s Canada Corp.

BMS Distributing Corp.

 

Delaware

 

100% CBI Distributing Corp.

Claire’s Accessories UK, Ltd.

 

United Kingdom

 

100% Claire’s Holding GMBH

WhiteClaire’s Accessories Portugal Unipessoal LSA

 

Portugal

 

100% Claire’s Holding GMBH

Claire’s Netherlands B.V.

 

Netherlands

 

100% Claire’s Holding GMBH

Claire’s Distribution B.V.

 

Netherlands

 

100% Claire’s Holding GMBH

Clarie’s International Europe, Ltd

 

Switzerland

 

100% Claire’s Holding GMBH

CSI Luxembourg S.a.r.l.

 

Luxembourg

 

100% Claire’s Holding GMBH

BMS Fashion Corp.

 

Cayman

 

100% Claire’s Holding GMBH

Claire’s China Services Trust

 

China

 

100% BMS Fashion Corp.

Claire’s Austria Gmbh

 

Austria

 

100% Claire’s International Europe Ltd.

Claire’s Switzerland Gmbh

 

Switzerland

 

100% Claire’s International Europe Ltd.

Claire’s Germany Gmbh

 

Germany

 

100% Claire’s International Europe Ltd.

Claire’s Belgium B.V.B.A.

 

Beligum

 

100% Claire’s Accessories UK, Ltd.

Claire’s Accessories Spain, S.L.

 

Spain

 

100% Claire’s A


 
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