Exhibit 10.17

THIRD AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

THIRD AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”)
dated as of April 28, 2009 by and among

BRODER BROS., CO., a Michigan corporation, as Lead Borrower for the Borrowers
named herein (in such capacity, the “Lead Borrower”);

The BORROWERS party hereto;

The GUARANTORS party hereto;

The LENDERS party hereto;

BANK OF AMERICA, N.A., as administrative agent (in such capacity, the
“Administrative Agent”) for the Lenders;

BANK OF AMERICA, N.A., as collateral agent (in such capacity, the “Collateral
Agent”) for the Lenders; and

BANK OF AMERICA, N.A., as Issuing Bank and Swingline Lender;

in consideration of the mutual covenants herein contained and benefits to be
derived herefrom.

W I T N E S S E T H:

WHEREAS, the Borrowers, the Guarantors, the Lenders, the Administrative Agent,
and the Collateral Agent, among others, have entered into that certain Amended
and Restated Credit Agreement dated as of August 31, 2006 (as amended, restated,
modified or supplemented and in effect, the “Credit Agreement”); and

WHEREAS, the Borrowers, the Guarantors, the Agents and the Required Lenders have
agreed to amend the Credit Agreement as set forth herein.

NOW THEREFORE, in consideration of the mutual promises and agreements herein
contained, the parties hereto hereby agree as follows:

 

1. Capitalized Terms. All capitalized terms not otherwise defined herein shall
have the same meaning as in the Credit Agreement, as applicable.

 

2.

Representations and Warranties. Each Loan Party hereby represents and warrants
that, after giving effect to this Amendment, (i) no Default or Event of Default
by the Loan Parties exists under the Loan Documents, and (ii) all
representations and warranties contained in the Credit Agreement and the other
Loan Documents are true and correct in

 

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all material respects (without duplication of any materiality standard set forth
in any such representation or warranty) as of the date hereof with the same
effect as though made on and as of such date, except to the extent such
representations and warranties expressly relate to an earlier date, in which
case such representations and warranties shall be true and correct in all
material respects (without duplication of any materiality standard set forth in
any such representation or warranty) as of such date.

 

3. Amendments to Credit Agreement. The Credit Agreement is hereby amended by
deleting Section 6.06(c) thereof in its entirety and by substituting the
following in its stead:

“(c) Redeem, repurchase or otherwise prepay, or make any payments, directly or
indirectly, of any principal amounts or interest under the Exchange Notes (other
than payment in kind interest) or pay any consent fee in cash other than the
consent fee payable in cash upon the closing of the Exchange Offer as described
in the Exchange Notes Term Sheet, provided that, on or after October 1, 2009,
the Loan Parties may make payments in cash (after the closing of the Exchange
Offer) in respect of any consent fees which are required under the terms of the
Exchange Debt Documents so long as either (i) such payments are funded solely
with the proceeds of a Designated Equity Issuance or (ii) after giving effect to
such payment, Excess Availability is equal to or greater than $10,000,000; and
provided further that, after December 31, 2009, the Loan Parties may make cash
interest payments which are required under the terms of the Exchange Debt
Documents so long as either (i) such payments are funded solely with the
proceeds of a Designated Equity Issuance or (ii) (x) average daily Excess
Availability for the 45 day period immediately preceding such payment,
calculated on a pro forma basis after giving effect to such payment, is equal to
or greater than $20,000,000, and (y) after giving effect to such payment, Excess
Availability is equal to or greater than $20,000,000. For purposes of this
Section 6.06(c), there shall be deducted from Excess Availability (i) the
aggregate amount of all the outstanding and unpaid trade payables and other
obligations of the Loan Parties which are not paid within 30 days past the due
date according to their original terms of sale, in each case as of such date of
determination, and (ii) without duplication of clause (i) above, the amount of
checks issued by any Loan Party to pay trade payables and other obligations
which are not paid within 30 days past the due date according to the original
terms of sale, in each case as of such date of determination, but which either
have not yet been sent or are subject to other arrangements which are expected
to delay the prompt presentation of such checks for payment. For the avoidance
of doubt, in no event shall any refinancing permitted by Section 6.01(b)
constitute a redemption, repurchase, prepayment or payment in respect of the
Senior Notes for any purpose under Sections 6.06 or 6.09.”

 

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4. Conditions to Effectiveness. This Amendment shall not be effective until each
of the following conditions precedent have been fulfilled or waived to the
satisfaction of the Agents:

 

  a. This Amendment shall have been duly executed and delivered by the Loan
Parties and the Required Lenders, and the Administrative Agent shall have
received a fully executed copy hereof.

 

  b. All action on the part of the Loan Parties necessary for the valid
execution, delivery and performance by the Loan Parties of this Amendment shall
have been duly and effectively taken.

 

  c. After giving effect to this Amendment, no Default or Event of Default shall
have occurred and be continuing.

 

5. Binding Effect. The terms and provisions hereof shall be binding upon and
inure to the benefit of the parties hereto and their heirs, representatives,
successors and permitted assigns.

 

6. Expenses. The Loan Parties shall reimburse the Agents for all reasonable
out-of-pocket expenses incurred in connection herewith, including, without
limitation, reasonable attorneys’ fees, in each case to the extent provided in
the Credit Agreement.

 

7. Multiple Counterparts. This Amendment may be executed in multiple
counterparts, each of which shall constitute an original and together which
shall constitute but one and the same instrument. Delivery of a counterpart via
facsimile or electronic transmission shall constitute delivery of an original
counterpart.

 

8. Governing Law. This Amendment shall be construed, governed, and enforced
pursuant to the laws of the State of New York (without giving effect to
conflicts of law principles).

 

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IN WITNESS WHEREOF, this Amendment has been duly executed and delivered by each
of the parties hereto as a sealed instrument as of the date first above written.

 

BRODER BROS., CO., as Lead Borrower and as a Borrower By:  

/s/ Martin J. Matthews

Name:  

Martin J. Matthews

Title:  

Chief Financial Officer

 

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BANK OF AMERICA, N.A., as Administrative Agent, Collateral Agent, Issuing Bank,
a Lender and Swingline Lender By:  

/s/ Gregory Kress

Name:   Gregory Kress Title:   Senior Vice President

 

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JPMORGAN CHASE BANK, N.A., as Syndication Agent and a Lender By:  

/s/ David J. Waugh

Name:  

David J. Waugh

Title:  

Vice President

 

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COMERICA BANK, as a Co-Documentation Agent and a Lender By:  

 

Name:  

 

Title:  

 

 

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GENERAL ELECTRIC CAPITAL CORPORATION, as a Co-Documentation Agent and a Lender
By:  

 

Name:  

 

Title:  

 

 

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WELLS FARGO FOOTHILL, LLC, as a Lender By:  

 

Name:  

 

Title:  

 

 

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