THIRD AMENDMENT AND WAIVER TO
SECOND AMENDED AND
RESTATED CREDIT AGREEMENT
THIRD
AMENDMENT AND WAIVER, dated as of February 28, 2007, to the
Second Amended and Restated Credit Agreement referred to below
(this “ Amendment ”), by and among DICK’S
SPORTING GOODS, INC., a Delaware corporation (“
Borrower ”), GENERAL ELECTRIC CAPITAL CORPORATION, a
Delaware corporation, as Agent for the Lenders (in such capacity
“ Agent ”), and the Lenders signatory
hereto.
WHEREAS,
Borrower, the other Loan Parties signatory thereto, Agent and
Lenders are parties to that certain Second Amended and Restated
Credit Agreement, dated as of July 28, 2004 (as amended,
restated, supplemented or otherwise modified from time to time, the
“ Credit Agreement ”); and
WHEREAS,
Borrower, Agent and Required Lenders have agreed, among other
things, to amend and waive certain provisions of the Credit
Agreement, in the manner, and on the terms and conditions, provided
for herein;
NOW
THEREFORE, in consideration of the premises and for other good and
valuable consideration, the receipt, adequacy and sufficiency of
which are hereby acknowledged, Borrower, Agent and Required Lenders
hereby agree as follows:
1.
Definitions . Capitalized terms not otherwise defined herein
(including in the Recitals hereto) shall have the meanings ascribed
to them in the Credit Agreement as amended hereby (the “
Amended Credit Agreement ”).
2.
Waiver . Required Lenders hereby waive, as of the Third
Amendment Effective Date (as hereinafter defined) any Default or
Event of Default under Section 6.2(c) of the Credit
Agreement solely resulting from Borrower’s failure to grant a
first priority perfected Lien to Agent in the Wells Fargo Cash
Management – Money Market Account (account number 12704219);
provided , that Borrower shall cause such Lien to be so
perfected no later than May 13, 2007, and, in connection
therewith, deliver to Agent no later than such date a duly executed
control agreement covering such account, which agreement shall be
in form and substance satisfactory to Agent and its
counsel.
3.
Amendment to Section 6.3 of the Credit Agreement .
Section 6.3 of the Credit Agreement is hereby amended
as of the Third Amendment Effective Date by deleting clause
(c) thereof in its entirety and inserting a new clause
(c) to read as follows:
“(c)
Capital Lease Obligations and Indebtedness secured by purchase
money Liens permitted under clause (c) of
Section 6. 7 (including any such Capital Lease
Obligations and Indebtedness set forth in Schedule 6. 3
or any extensions, renewals, replacements or modifications thereof)
in a maximum outstanding aggregate amount not to exceed $15,000,000
plus the outstanding amount of the Progress Payment Promissory
Note;”
4.
Amendment to Section 6.7 of the Credit Agreement .
Section 6.7 of the Credit Agreement is hereby amended
as of the Third Amendment Effective Date by deleting clause
(c) thereof in its entirety and inserting in lieu thereof a
new clause (c) to read as follows:
“(c)
purchase money Liens or purchase money security interests upon or
in Equipment acquired by any Loan Party in the ordinary course of
business to secure the purchase price of such Equipment or to
secure Capital Lease Obligations, in each case, permitted under
clause (c) of Section 6.3 incurred solely for the
purpose of financing the acquisition of such Equipment, and Liens
granted pursuant to the Bank of America Lease and the Collateral
Assignment of Purchase Agreement, in each case as in effect on
February 28, 2007, to secure, among other things, the
obligations evidenced by the Progress Payment Promissory
Note;”
5.
Amendments to Annex A of the Credit Agreement . Annex
A of the Credit Agreement is hereby amended as of the Third
Amendment Effective Date by:
(a) adding
the following new definitions in appropriate alphabetical order
therein:
“‘
Bank of America Lease ’ shall mean that certain Lease
Agreement dated as of February 28, 2007 between Bank of
America, N.A. as Lessor and Borrower as Lessee.
‘
Collateral Assignment of Purchase Agreement ’ shall
mean that certain Collateral Assignment of Purchase Agreement,
dated as of February 28, 2007, by and among the parties
thereto entered into in connection with the Bank of America
Lease.
‘
Progress Payment Promissory Note ’ shall mean that
certain Progress Payment Promissory Note dated February 28,
2007 in the original principal amount of $14,385,500.00 made by
Borrower in favor of Bank of America, N.A. in connection with the
transactions contemplated by the Bank of America
Lease.”
6.
Representations and Warranties . To induce Required Lenders
and Agent to enter into this Amendment, Borrower hereby represents
and warrants that, after giving effect to this
Amendment:
|
|
(a)
|
|
Each of the execution, delivery and
performance by Borrower and each other Loan Party which is party to
the Guaranty of this Amendment and the performance of the Amended
Credit Agreement are (i) within Borrower’s and each such
Loan Party’s corporate power and have been duly authorized by
all necessary corporate and shareholder action; (ii) do not
contravene any provision of any Loan Party’s charter or
bylaws or equivalent organizational or charter or other constituent
documents; (iii) do not violate any law or regulation, or any
order or decree of any court or Governmental Authority;
(iv) do not conflict with or result in the breach or
termination of, constitute a default under or accelerate or permit
the acceleration of any performance required by, any indenture,
mortgage, deed of trust, lease, agreement or o
|
|