EXHIBIT (10)a. FIRST AMENDMENT TO CREDIT
AGREEMENT AND WAIVER THIS FIRST AMENDMENT TO CREDIT AGREEMENT AND
WAIVER (this "Amendment") is entered into as of April 12, 2005
among (i) GENESCO INC., a Tennessee corporation (the "Borrower"),
(ii) the subsidiaries of the Borrower identified as Guarantors on
the signature pages hereto, (iii) the Lenders identified on the
signature pages hereto and (iv) BANK OF AMERICA, N.A., as
Administrative Agent (the "Administrative Agent"). All capitalized
terms used herein and not otherwise defined shall have the meanings
ascribed to such terms in the Credit Agreement referred to below.
RECITALS A. A Credit Agreement dated as of April 1, 2004 (as
amended or modified, the "Credit Agreement") has been entered into
by and among the Borrower, the Guarantors party thereto (the
"Guarantors"), the financial institutions party thereto (the
"Lenders") and the Administrative Agent. B. The Borrower, the
Guarantors and the Required Lenders have agreed to an amendment and
waiver of the terms of the Credit Agreement as set forth below.
AGREEMENT NOW, THEREFORE, for good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the
parties hereto agree as follows: 1. Amendment to Section 8.12 of
the Credit Agreement. Section 8.12 of the Credit Agreement is
hereby amended by replacing such section in its entirety with the
following: "8.12 CAPITAL EXPENDITURES. Make or become legally
obligated to make any expenditure in respect of the purchase or
other acquisition of any fixed or capital asset (excluding normal
replacements and maintenance which are properly charged to current
operations and net of any tenant allowances or other payments,
credits or reimbursements related to capital expenditures for
leasehold improvements), except for capital expenditures in the
ordinary course of business not exceeding, in the aggregate for the
Borrower and it Subsidiaries during each fiscal year period set
forth below, the amount set forth opposite such fiscal year
period:
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FISCAL YEAR PERIOD AMOUNT ---------------------------- -----------
2005 through 2006 (combined) $91,000,000 2007 $45,000,000 2008
$50,000,000 2009 $50,000,000
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; provided, however, that so long as no
Default has occurred and is continuing or would result from such
expenditure, any portion of any amount set forth above not to
exceed $3,000,000 per fiscal year period, if not expended in the
fiscal year period for which it is permitted above, may be carried
over for expenditure in the immediately succeeding fiscal year
period." 2. Waiver. The Borrower has informed the Administrative
Agent that due to a change in the interpretation of the GAAP
requirements for lease accounting it intends to restate certain of
its prior period financial statements (including, without
limitation, the Audited Financial Statements for the fiscal year
ending as of January 31, 2004 which have previously been delivered
to the Administrative Agent and the Lenders in connection with the
Credit Agreement) (collectively, the "Prior Financial Statements").
The Borrower has asked the Required Lenders to waive any Default or
Event of Default that exists or would otherwise result from a
misrepresentation with respect to Sections 6.05(a)(i), (ii) and
6.05(d) arising from such restatement of the Prior Financial
Statements. The Required Lenders hereby grant a waiver of any
Default or Event of Default that exists or would otherwise result
from a misrepresentation with respect to Sections 6.05(a)(i), (ii)
or 6.05(d) as a result of the restatement of the Prior Financial
Statements in connection with the changes in lease accounting or
circumstances leading to such restatement to address such changes
in lease accounting. 3. Condition Precedent to Effectiveness. The
amendment to and waiver of the Credit Agreement set forth herein
shall be deemed effective as of the date hereof once the
Administrative Agent has received from the Loan Parties and the
Required Lenders duly executed counterparts of this Amendment. 4.
Representations and Warranties. Each Loan Party hereby represents
and warrants to the Administrative Agent and the Lenders that, upon
giving effect to this Amendment (a) no Default or Event of Default
exists and (b) all of the representations and warranties set forth
in the Loan Documents are true and correct in all material respects
as of the date hereof (except for those that expressly state that
they are made as of an earli