Exhibit 10.1
FIRST AMENDMENT TO CREDIT
AGREEMENT
THIS
FIRST AMENDMENT TO CREDIT AGREEMENT (this “ Amendment
”) is dated as of July 29, 2009 (the “ Effective
Date ”) between JPMORGAN CHASE BANK, N.A. (“
Agent ”), the Lenders signatory hereto and ESCALADE,
INCORPORATED (“ Borrower ”).
Recitals
The
Borrower, the Lenders party thereto and the Agent, as
Administrative Agent, Issuing Bank and a Lender, are parties to
that certain Credit Agreement, dated as of April 30, 2009 (the
“ Credit Agreement ”). As of the Effective Date,
JPMorgan Chase Bank, N.A. is the sole Lender under the Credit
Agreement.
The
Credit Agreement requires that the Borrower satisfy certain
post-closing conditions not later than July 31, 2009. The Borrower,
the Agent and JPMorgan Chase Bank, N.A., as the sole Lender, have
agreed that the deadline for the completion of such post-closing
conditions be extended to September 30, 2009.
Agreement
NOW,
THEREFORE, in consideration of the premises, the mutual covenants
and agreements herein, and each act performed and to be performed
hereunder, the Agent, JPMorgan Chase Bank, N.A., as the sole
Lender, and the Borrower agree as follows:
Amendment to the Credit Agreement . As of the Effective
Date, the first sentence in Section 4.03 of the Credit Agreement is
amended by deleting the date “July 31, 2009” and
replacing it with the date “September 30,
2009”.
Binding on Successors and Assigns . All of the terms and
provisions of this Amendment shall be binding upon and inure to the
benefit of the parties hereto, their respective successors, assigns
and legal representatives.
Governing Law . This Amendment is a contract made under, and
shall be governed by and construed in accordance with the laws of
the State of Indiana.
Amendment of Other Loan Documents . All references to the
Credit Agreement in the other L
