Exhibit 10.7

 

THIRD AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT 

 

THIRD AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (this “Amendment”),
dated as of April 30, 2019, among ALLIANCE DATA SYSTEMS CORPORATION, a Delaware
corporation (the “Borrower”), the Guarantors (as defined in the Credit Agreement
referred to below) party hereto, the Banks party hereto (the “Consenting
Banks”), and WELLS FARGO BANK, NATIONAL ASSOCIATION, as administrative agent
(the “Administrative Agent”). Unless otherwise indicated, all capitalized terms
used herein and not otherwise defined herein shall have the respective meanings
provided such terms in the Credit Agreement referred to below.

 

W I T N E S S E T H:

 

WHEREAS, the Borrower, the Guarantors party thereto, the lenders party
thereto from time to time (the “Banks”) and the Administrative Agent have
entered into that certain Amended and Restated Credit Agreement, dated as of
June 14, 2017  (as amended, supplemented or otherwise modified prior to the date
hereof, the “Existing Credit Agreement”; the Existing Credit Agreement, as
amended by this Amendment, the “Credit Agreement”);

 

WHEREAS, the Borrower has requested, and subject to the terms and conditions set
forth herein, the Administrative Agent and the Consenting Banks have agreed, to
certain amendments to the Existing Credit Agreement as more specifically set
forth herein;

 

NOW, THEREFORE, in consideration of the foregoing and for other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, it is agreed as follows:

 

SECTION 1.     Consent.  Effective as of the Consent Effective Date (as defined
below) and subject to the terms and conditions set forth herein and in reliance
upon the representations and warranties set forth herein, notwithstanding
anything to the contrary contained in the Existing Credit Agreement or any other
Credit Document, the Consenting Banks hereby consent to the sale by the Credit
Parties and their Subsidiaries of the Epsilon business pursuant to the
transaction described in the Borrower’s SEC Form 8-K dated April 12, 2019 (filed
April 15, 2019), with such deviations from such description as may be acceptable
to the Administrative Agent in its reasonable discretion and not materially
adverse to the Banks (the “Epsilon Transaction”); provided that (a) within three
(3) Business Days after the consummation of the Epsilon Transaction, the
Borrower shall prepay outstanding Revolving Loans and Term Loans in a principal
amount of at least $500,000,000 (for the avoidance of doubt, measured against
the outstanding Revolving Loan principal amount immediately prior to the
consummation of the Epsilon Transaction), to be applied first to repay
outstanding Revolving Loans and then to repay outstanding Term Loans and (b)
within thirty-five (35) days after the consummation of the Epsilon Transaction,
the Borrower shall redeem, repurchase or otherwise retire or discharge
outstanding senior notes of the Borrower in an aggregate principal amount of at
least the lesser of (i) $1,890,000,000 and (ii) the total outstanding principal
amount of the Borrower’s senior notes, it being agreed that any failure to make
any such payment, redemption, repurchase, retirement or discharge required under
clause (a) or (b) shall constitute an immediate Event of Default.    In
addition, notwithstanding anything to the contrary contained in the Existing
Credit Agreement, the Epsilon Transaction shall be deemed to be a transaction
within the scope of Section 9.1(d) of the Existing Credit Agreement, and each
Bank party hereto authorizes the Administrative Agent to release as a Guarantor
any Subsidiary that ceases to be a Subsidiary in connection with the Epsilon
Transaction upon the Borrower’s satisfaction with respect to such Guarantor of
the release requirements set forth in Section 5.20 of the Existing Credit
Agreement.

 

SECTION 2.     Amendments to Existing Credit Agreement.  Effective as of the
Third Amendment Effective Date (as defined in Section 5 below) and subject to
the terms and conditions set forth herein and in

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reliance upon the representations and warranties set forth herein, the Existing
Credit Agreement is hereby amended as follows:

 

(a)     Article 1 of the Existing Credit Agreement is hereby amended by adding
the following defined terms in appropriate alphabetical order:

 

“Beneficial Ownership Certification” means a certification regarding beneficial
ownership as required by the Beneficial Ownership Regulation.

 

“Beneficial Ownership Regulation” means 31 CFR § 1010.230.

 

“Benefit Plan” means any of (a) an “employee benefit plan” (as defined in ERISA)
that is subject to Title I of ERISA, (b) a “plan” as defined in and subject to
Section 4975 of the Code or (c) any Person whose assets include (for purposes of
ERISA Section 3(42) or otherwise for purposes of Title I of ERISA or Section
4975 of the Code) the assets of any such “employee benefit plan” or “plan”.

 

“Epsilon Transaction” has the meaning set forth in Section 5.7(d).

 

“Net Cash Proceeds”  means, with respect to any sale, lease or other transfer of
assets, the gross proceeds received by the Credit Parties and their Subsidiaries
therefrom (including any cash, Eligible Cash Equivalents, deferred payment
pursuant to, or by monetization of, a note receivable or otherwise, as and when
received) less the sum of (a) the fees, costs and expenses relating to such sale
or other transfer, including legal, accounting and investment banking fees, and
brokerage and sales commissions, survey costs, title insurance premiums, and
related search and recording charges, transfer taxes, deed or mortgage recording
taxes, other customary expenses and consultant and other customary fees, and any
relocation expenses incurred as a result thereof, (b) taxes paid or reasonably
estimated to be payable as a result thereof (including, in respect of any
proceeds received in connection with any sale or other transfer of or by any
Foreign Subsidiary or of any asset located or deemed located outside of the
United States, deductions in respect of withholding taxes and similar taxes,
fees, charges and penalties payable in connection with repatriation of such
funds to the United States), provided that if any such estimated taxes exceed
the amount of actual taxes required to be paid in cash in respect of such
transaction, the amount of such excess shall constitute Net Cash Proceeds, (c)
distributions and other payments required to be made to holders of minority
interests, royalty interests, stock appreciation rights or similar rights or
interests in Subsidiaries or the assets or properties thereof as a result of
such transaction, (d) amounts required to be applied to the payment of
principal, premium, if any, and interest on Debt (other than Debt under the
Credit Documents) secured by a Lien on such sold or otherwise transferred assets
(or a portion thereof), which Debt is required to be paid as a result of such
transaction, and (e) deduction of appropriate amounts to be provided by the
Credit Parties or any of their Subsidiaries as a reserve in accordance with GAAP
against any liabilities associated with the sold or otherwise transferred asset
and retained by the Credit Parties or any of their Subsidiaries after such sale
or other transfer thereof, including pension and other post-employment benefit
liabilities, liabilities related to environmental matters, indemnification
obligations associated with such transaction and purchase price adjustments,
 provided that, to the extent and at the time any such amounts are released from
such reserve, such amounts shall constitute Net Cash Proceeds.

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“PTE” means a prohibited transaction class exemption issued by the U.S.
Department of Labor, as any such exemption may be amended from time to time.

 

“Senior Note Redemption” has the meaning set forth in Section 5.7(d).

 

“Third Amendment Effective Date” has the meaning set forth in the Third
Amendment to Amended and Restated Credit Agreement, dated as of April 30, 2019.

 

(b)     The definition of “Consolidated Operating EBITDA” set forth in Section
1.1 of the Existing Credit Agreement is hereby amended by replacing the “.” at
the end of such definition and replacing it with the following proviso:

 

“; provided that, notwithstanding anything herein to the contrary, if (i) the
Epsilon Transaction is consummated on or prior to June 30, 2019 and (ii) the
Senior Note Redemption has not occurred on or prior to June 30, 2019, then the
Epsilon Transaction shall be deemed to have occurred on July 1, 2019 for the
purpose of calculating Consolidated Operating EBITDA on a pro forma basis.”

 

(c)     The definition of “Maturity Date” set forth in Section 1.1 of the
Existing Credit Agreement is hereby amended by replacing  “June 14, 2022” with
“June 14, 2021”.

 

(d)     Article 1 of the Existing Credit Agreement is hereby amended by adding
the following new Section 1.4 thereto and in connection therewith the table of
contents shall be amended to include a reference to “SECTION 1.4 Divisions”:

 

“SECTION 1.4   Divisions.  For all purposes under the Credit Documents, in
connection with any division or plan of division under Delaware law (or any
comparable event under a different jurisdiction’s laws) (a “Statutory
Division”): (a) if any asset, right, obligation or liability of any Person
becomes the asset, right, obligation or liability of a different Person, then it
shall be deemed to have been transferred from the original Person to the
subsequent Person, and (b) if any new Person comes into existence, such new
Person shall be deemed to have been organized on the first date of its existence
by the holders of its Capital Stock at such time.  The term “merge” set forth in
Section 5.7 shall include any Statutory Division and Section 5.20 shall include
any Material Domestic Subsidiary resulting from a Statutory Division.”

 

(e)     Section 2.11 of the Existing Credit Agreement is hereby amended by
adding a new clause (d) at the end of such Section as follows:

 

“(d)     Mandatory Prepayment of Term Loans.  The Borrower shall make mandatory
principal prepayments of the Term Loans in amounts equal to 100% of the
aggregate Net Cash Proceeds from any sale or other transfer of assets made
pursuant to Section 5.7(d)(i) after the Third Amendment Effective Date if
required by Section 5.7(d)(i)(C).  Such prepayments shall be made within three
(3) Business Days after the date of receipt of the applicable Net Cash
Proceeds.  Each prepayment of the Term Loans under this clause (d) shall be
applied to reduce the scheduled quarterly installments of the Term Loans under
Section 2.5(b) in direct order of maturity.  The Borrower may elect to utilize
the option set forth in Section 2.11(c) in connection with any mandatory
prepayment pursuant this clause (d).

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(f)     Section 5.1 of the Existing Credit Agreement is hereby amended by adding
a new clause (q) at the end of such Section as follows:

 

“(q)     prompt notice to the Administrative Agent and each Bank that previously
received a Beneficial Ownership Certification (or a certification that the
Borrower qualifies for an express exclusion to the “legal entity customer”
definition under the Beneficial Ownership Regulation) of any change in the
information provided in the Beneficial Ownership Certification that would result
in a change to the list of beneficial owners identified therein (or, if
applicable, the Borrower ceasing to fall within an express exclusion to the
definition of “legal entity customer” under the Beneficial Ownership Regulation)
and promptly upon the reasonable request of the Administrative Agent or any
Bank, provide the Administrative Agent or directly to such Bank, as the case may
be, any information or documentation requested by it for purposes of complying
with the Beneficial Ownership Regulation.”

 

(g)     Section 5.7 of the Existing Credit Agreement is hereby amended by
amending and restating clause (d) thereof in its entirety as follows:

 

“(d) (i) sales, leases and other transfers of assets; provided that, in the case
(and only the case) of any sale, lease or other transfer made in reliance on
this Section 5.7(d)(i) for total consideration in excess of $50,000,000 (A)
 such sale, lease or other transfer shall be made for fair market value (as
determined by the Borrower in good faith) at the time of such sale, lease or
other transfer (or if such sale, lease or other transfer is made pursuant to a
legally binding commitment, at the time such commitment is entered into), (B) no
less than 75% of the total consideration received with respect to such sale,
lease or other transfer shall be cash, Eligible Cash Equivalents and the
assumption of liabilities, and (C) the Net Cash Proceeds therefrom are applied
as required by Section 2.11(d) and (ii) the sale by the Credit Parties and their
Subsidiaries of the Epsilon business pursuant to the transaction described in
the Borrower’s SEC Form 8-K dated April 12, 2019 (filed April 15, 2019), with
such deviations from such description as may be acceptable to the Administrative
Agent in its reasonable discretion and not materially adverse to the Banks (the
“Epsilon Transaction”); provided that (x) within three (3) Business Days after
the consummation of the Epsilon Transaction, the Borrower shall prepay
outstanding Revolving Loans and Term Loans in a principal amount of at least
$500,000,000 (for the avoidance of doubt, measured against the outstanding
Revolving Loan principal amount immediately prior to the consummation of the
Epsilon Transaction), to be applied first to repay outstanding Revolving Loans
and then to repay outstanding Term Loans and (y) within thirty-five (35) days
after the consummation of the Epsilon Transaction, the Borrower shall redeem,
repurchase or otherwise retire or discharge outstanding senior notes of the
Borrower in an aggregate principal amount of at least the lesser of (i)
$1,890,000,000 and (ii) the total outstanding principal amount of the Borrower’s
senior notes (such redemption, repurchase, retirement or other discharge, the
“Senior Note Redemption”), it being agreed that any failure to make any such
payment, redemption, retirement or discharge required under clause (x) or (y)
shall constitute an immediate Event of Default, and”

 

(h)     Article 10 of the Existing Credit Agreement is hereby amended by adding
the following new Section 10.18 thereto and in connection therewith the table of
contents shall be amended to include a reference to “SECTION 10.18 Certain ERISA
Matters”:

4

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“SECTION 10.18     Certain ERISA Matters.

 

(a)     Each Bank (x) represents and warrants, as of the date such Person became
a Bank party hereto, to, and (y) covenants, from the date such Person became a
Bank party hereto to the date such Person ceases being a Bank party hereto, for
the benefit of, the Administrative Agent, each Arranger and their respective
Affiliates, and not, for the avoidance of doubt, to or for the benefit of the
Borrower or any other Credit Party, that at least one of the following is and
will be true:

 

(i)     such Bank is not using “plan assets” (within the meaning of Section
3(42) of ERISA or otherwise) of one or more Benefit Plans with respect to such
Bank’s entrance into, participation in, administration of and performance of the
Loans, the Letters of Credit or the Commitments;

 

(ii)     the transaction exemption set forth in one or more PTEs, such as PTE
84-14 (a class exemption for certain transactions determined by independent
qualified professional asset managers), PTE 95-60 (a class exemption for certain
transactions involving insurance company general accounts), PTE 90-1 (a class
exemption for certain transactions involving insurance company pooled separate
accounts), PTE 91-38 (a class exemption for certain transactions involving bank
collective investment funds) or PTE 96-23 (a class exemption for certain
transactions determined by in-house asset managers), is applicable with respect
to such Bank’s entrance into, participation in, administration of and
performance of the Loans, the Letters of Credit, the Commitments and this
Agreement;

 

(iii)     (A) such Bank is an investment fund managed by a “Qualified
Professional Asset Manager” (within the meaning of Part VI of PTE 84-14), (B)
such Qualified Professional Asset Manager made the investment decision on behalf
of such Bank to enter into, participate in, administer and perform the Loans,
the Letters of Credit, the Commitments and this Agreement, (C) the entrance
into, participation in, administration of and performance of the Loans, the
Letters of Credit, the Commitments and this Agreement satisfies the requirements
of sub-sections (b) through (g) of Part I of PTE 84-14 and (D) to the best
knowledge of such Bank, the requirements of subsection (a) of Part I of PTE
84-14 are satisfied with respect to such Bank’s entrance into, participation in,
administration of and performance of the Loans, the Letters of Credit, the
Commitments and this Agreement; or

 

(iv)     such other representation, warranty and covenant as may be agreed in
writing between the Administrative Agent, in its sole discretion, and such Bank.

 

(b)     In addition, unless either (1) sub-clause (i) in the immediately
preceding clause (a) is true with respect to a Bank or (2) a Bank has provided
another representation, warranty and covenant in accordance with sub-clause (iv)
in the immediately preceding clause (a), such Bank further (x) represents and
warrants, as of the date such Person became a Bank party hereto, to, and (y)
covenants, from the date such Person became a Bank party hereto to the date such
Person ceases being a Bank party hereto, for the benefit of, the Administrative
Agent, each Arranger and their respective Affiliates, and not, for the avoidance
of doubt, to or for the benefit of the Borrower or any other Credit Party, that
none of the Administrative Agent, any Arranger and their respective Affiliates
is a fiduciary with respect to the assets of such Bank

5

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involved in such Bank’s entrance into, participation in, administration of and
performance of the Loans, the Letters of Credit, the Commitments and this
Agreement (including in connection with the reservation or exercise of any
rights by the Administrative Agent under this Agreement, any Credit Document or
any documents related hereto or thereto).”

 

(i)     Schedule I to the Existing Credit Agreement is hereby amended by
replacing the “Revolving Credit Commitment” column with the amounts set forth on
Schedule I attached hereto with respect to each applicable Bank, and the heading
of such column is hereby amended by adding at the end thereof the following
parenthetical: “(as of the Third Amendment Effective Date)”.

 

SECTION 3.     Reduction in Revolving Credit Commitments.  Effective as of the
Third Amendment Effective Date, the aggregate amount of the Revolving Credit
Commitments of the Banks is hereby reduced to $1,072,420,036.25, which such
reduction shall be applied on a pro rata basis to reduce the Revolving Credit
Commitment of each applicable Bank holding a Revolving Credit Commitment as of
the Third Amendment Effective Date such that the Revolving Credit Commitment of
each Bank on the Third Amendment Effective Date shall be as set forth on
Schedule I attached hereto.

 

SECTION 4.      Consent Effective Date Conditions.   The consent set forth in
Section 1 shall become effective on the date when the following conditions shall
have been satisfied or waived (such date, the “Consent Effective Date”):

 

(a)      The Administrative Agent’s receipt of this Amendment, duly executed by
an authorized officer of each signing Credit Party, the Consenting Banks
constituting Required Banks and the Administrative Agent.

 

(b)      The fact that immediately prior to and after giving effect to this
Amendment, no Default has occurred and is continuing.

 

(c)      The fact that the representations and warranties of the Credit Parties
contained in the Credit Agreement are true and correct in all material respects
(where not already qualified by materiality, otherwise in all respects) on and
as of the Consent Effective Date immediately prior to and after giving effect to
this Amendment (other than representations and warranties that relate to a
specific date, which shall be true and correct in all material respects (where
not already qualified by materiality, otherwise in all respects) as of such
date).

 

(d)      Payment of all fees to Wells Fargo Bank, National Association required
to be paid in connection with this Amendment.

 

SECTION 5.      Third Amendment Effective Date Conditions.  The amendments to
the Existing Credit Agreement set forth in Section 2 and the reduction in the
Revolving Credit Commitments set forth in Section 3 shall become effective on
the date the Epsilon Transaction is consummated in accordance with Section 1 and
the Credit Parties receive the cash consideration required thereunder (such
date, the “Third Amendment Effective Date”).  For the avoidance of doubt, if the
Third Amendment Effective Date does not occur, the amendments and reductions set
forth in Section 2 and Section 3 shall not occur and such provisions shall have
no force or effect.    

 

SECTION 6.      Acknowledgement and Confirmation.  Each of the Credit Parties
party hereto hereby agrees that with respect to each Credit Document to which it
is a party, after giving effect to this Amendment and the transactions
contemplated hereunder, all of its obligations, liabilities and indebtedness
under such Credit

6

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Document, including guarantee obligations, shall, except as set forth herein or
in the Credit Agreement, remain in full force and effect on a continuous basis.

 

SECTION 7.      Limited Effect.  Except as provided herein, the Existing Credit
Agreement and the other Credit Documents shall remain unmodified and in full
force and effect.  This Amendment shall not be deemed (a) to be a waiver of, or
consent to, or a modification or amendment of, any other term or condition of
the Existing Credit Agreement or any other Credit Document other than as set
forth herein, (b) to prejudice any right or rights that the Administrative Agent
or the Banks may now have or may have in the future under or in connection with
the Existing Credit Agreement or the other Credit Documents or any of the
instruments or agreements referred to therein, as the same may be amended,
restated, supplemented or modified from time to time, other than as set forth
herein, or (c) to be a commitment or any other undertaking or expression of any
willingness to engage in any further discussion with the Borrower, any of its
Subsidiaries or any other Person with respect to any other waiver, amendment,
modification or any other change to the Existing Credit Agreement or the Credit
Documents or any rights or remedies arising in favor of the Banks or the
Administrative Agent, or any of them, under or with respect to any such
documents.    

 

SECTION 8.     Amendment Fee; Costs and Expenses.  

 

(a)     On the Third Amendment Effective Date, the Borrower shall pay to the
Administrative Agent for the account of each Consenting Bank that executes and
delivers its signature page to this Amendment to the Administrative Agent (or
its counsel) on or prior to the deadline communicated by the Administrative
Agent, an amendment fee previously agreed to between the Borrower and the
Administrative Agent.

 

(b)     The Borrower hereby reconfirms its obligations pursuant to Section
10.3(a) of the Credit Agreement to pay and reimburse the Administrative Agent in
accordance with the terms thereof.

 

SECTION 9.      Representations and Warranties.  To induce the Administrative
Agent and the Consenting Banks to enter into this Amendment, the Borrower
represents and warrants to the Administrative Agent and the Consenting Banks
that:  (a) the representations and warranties contained in the Credit Agreement
are true and correct in all material respects (where not already qualified by
materiality, otherwise in all respects) on and as of the date hereof immediately
after giving effect to this Amendment with the same effect as though made on the
date hereof (it being understood and agreed that any representation or warranty
which by its terms is made as of a specified date shall be required to be true
and correct in all material respects (where not already qualified by
materiality, otherwise in all respects) only as of such specified date);
(b) immediately after giving effect to this Amendment, no Default or Event of
Default exists; (c) this Amendment has been duly authorized by all necessary
corporate proceedings and duly executed and delivered by the Borrower and each
other Credit Party, and the Credit Agreement, as amended by this Amendment, is
the legal, valid and binding obligation of the Borrower and each other Credit
Party, enforceable against the Borrower and each other Credit Party in
accordance with its terms; and (d) no consent, approval, authorization, order,
registration or qualification with any Governmental Authority is required for,
the absence of which would materially adversely affect, the legal and valid
execution and delivery or performance by the Borrower or any other Credit Party
of this Amendment or the performance by the Borrower or any other Credit Party
of the Credit Agreement, as amended by this Amendment.  Each Guarantor hereby
ratifies and reaffirms:  (i) the validity, legality and enforceability of its
obligations under Article 9 of the Credit Agreement; (ii) that its reaffirmation
of such obligations is a material inducement to the Administrative Agent and the
Consenting Banks to enter into this Amendment; and (iii) that its obligations
under Article 9 of the Credit Agreement shall remain in full force and effect in
accordance with its terms until all the Guaranteed Obligations have been paid in
full.

7

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SECTION 10.      Reference to and Effect on the Credit Agreement and the Credit
Documents.  

 

(a)      On and after the Third Amendment Effective Date, each reference in the
Credit Agreement to “this Agreement,” “herein,” “hereto”, “hereof” and
“hereunder” or words of like import referring to the Credit Agreement, and each
reference in the Notes and each of the other Credit Documents to “the Credit
Agreement”, “thereunder”, “thereof” or words of like import referring to the
Credit Agreement, shall mean and be a reference to the Credit Agreement, as
amended by this Amendment.

 

(b)      Except as specifically provided above, the Credit Documents shall
remain in full force and effect and are hereby ratified and confirmed in all
respects.  The execution, delivery, and effectiveness of this Amendment shall
not, except as provided herein, operate as a waiver of any right, power, or
remedy of the Administrative Agent or any Bank under the Credit Agreement or any
other Credit Document, nor constitute a waiver or modification of any provision
of the Credit Agreement or any other Credit Document. This Amendment is a Credit
Document and is subject to the terms and conditions of the Credit Agreement.

 

SECTION 11.      Governing Law. THIS AMENDMENT SHALL BE GOVERNED BY  AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

 

SECTION 12.      Counterparts. This Amendment may be signed in any number of
counterparts, each of which shall be an original, with the same effect as if the
signatures thereto and hereto were upon the same instrument. Delivery of an
executed counterpart to this Amendment by facsimile transmission or by
electronic mail in pdf format shall be as effective as delivery of a manually
executed counterpart hereto.

 

[The remainder of this page is intentionally left blank.]

 

 

8

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IN WITNESS WHEREOF, the parties hereto have caused their duly authorized
officers to execute and deliver this Amendment as of the date first above
written.

 

 

 

 

 

ALLIANCE DATA SYSTEMS CORPORATION, as

Borrower

 

ADS ALLIANCE DATA SYSTEMS, INC., as

Guarantor

 

 

 

By:  /s/ Edward J. Heffernan

 

Name:   Edward J. Heffernan

 

Title:     President and Chief Executive Officer

 

 

 

 

 

EPSILON DATA MANAGEMENT, LLC, as Guarantor

 

 

 

By: /s/ J. Jeffrey Chesnut

 

Name:  J. Jeffrey Chesnut

 

Title:    Vice President, Assistant Treasurer

 

 

 

 

 

ALLIANCE DATA FOREIGN HOLDINGS, INC., as

Guarantor

 

ADS foreign holdings, INC., as Guarantor

 

comMISSION JUNCTION llc, as Guarantor

 

coNVERSANT llc, as Guarantor

 

 

 

By:  /s/ J. Jeffrey Chesnut

 

Name:  J. Jeffrey Chesnut

 

Title:    Treasurer

 

 

 

 

 

Aspen marketing services, llc, as Guarantor

 

comenity llc, as Guarantor

 

comenity servicing llc, as Guarantor

 

 

 

By:  /s/ Jeffrey L. Fair

 

Name:  Jeffrey L. Fair

 

Title:    Vice President, Tax

 

 

 

 

 

ALLIANCE DATA INTERNATIONAL LLC, as Guarantor

 

By: ALLIANCE DATA FOREIGN HOLDINGS, INC.,

its sole member

 

 

 

By:  /s/ J. Jeffrey Chesnut

 

Name:  J. Jeffrey Chesnut

 

Title:    Vice President and Assistant Treasurer

 

Alliance Data Systems Corporation

Third Amendment to Amended and Restated Credit Agreement

Signature Page

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wells fargo bank, national association,

 

as Administrative Agent and a Bank

 

 

 

By:  /s/ Spencer Ferry

 

Name:  Spencer Ferry

 

Title:    Vice President

 

Alliance Data Systems Corporation

Third Amendment to Amended and Restated Credit Agreement

Signature Page

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Bank OF AMERICA, N.A., as a Bank

 

 

 

By:  /s/ Molly Daniello

 

Name:  Molly Daniello

 

Title:    Vice President

 

Alliance Data Systems Corporation

Third Amendment to Amended and Restated Credit Agreement

Signature Page

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MUFG Bank, LTD. (formerly known as The Bank of

 

Tokyo-Mitsubishi UFG, Ltd.),  as a Bank

 

 

 

By:  /s/ Matthew Antioco 

 

Name:  Matthew Antioco

 

Title:    Director

 

 

Alliance Data Systems Corporation

Third Amendment to Amended and Restated Credit Agreement

Signature Page

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MIZUHO BANK LTD., as a Bank

 

 

 

By: /s/ Tracy Rahn

 

Name:  Tracy Rahn

 

Title:    Authorized Signatory

 

Alliance Data Systems Corporation

Third Amendment to Amended and Restated Credit Agreement

Signature Page

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JPMORGAN CHASE Bank, NATIONAL

 

ASSOCIATION, as a Bank

 

 

 

By:  /s/ Christine Lathrop 

 

Name:  Christine Lathrop

 

Title:    Vice President

 

 

Alliance Data Systems Corporation

Third Amendment to Amended and Restated Credit Agreement

Signature Page

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SUNTRUST Bank, as a Bank

 

 

 

By:  /s/ Justin Lien 

 

Name:  Justin Lien

 

Title:    Director

 

Alliance Data Systems Corporation

Third Amendment to Amended and Restated Credit Agreement

Signature Page

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BNP PARIBAS, as a Bank

 

 

 

By:  /s/ Gregory Paul 

 

Name:  Gregory Paul

 

Title:    Managing Director

 

 

 

By:  /s/ Yudesh Sohan 

 

Name:  Yudesh Sohan

 

Title:    Director

 

Alliance Data Systems Corporation

Third Amendment to Amended and Restated Credit Agreement

Signature Page

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FIFTH THIRD Bank, as a Bank

 

 

 

By:  /s/ Matthew Lewis 

 

Name:  Matthew Lewis

 

Title:    Director

 

 

Alliance Data Systems Corporation

Third Amendment to Amended and Restated Credit Agreement

Signature Page

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ROYAL Bank OF CANADA, as a Bank

 

 

 

By:  /s/ Kamran Khan 

 

Name:  Kamran Khan

 

Title:    Authorized Signatory

 

Alliance Data Systems Corporation

Third Amendment to Amended and Restated Credit Agreement

Signature Page

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SUMITOMO MITSUI BankING CORPORATION, as

 

a Bank

 

 

 

By:  /s/ Katsuyuki Kubo 

 

Name:  Katsuyuki Kubo

 

Title:    Managing Director

 

 

Alliance Data Systems Corporation

Third Amendment to Amended and Restated Credit Agreement

Signature Page

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THE Bank OF NOVA SCOTIA, as a Bank

 

 

 

By:  /s/ Kevin Chan 

 

Name:  Kevin Chan

 

Title:    Director

 

 

Alliance Data Systems Corporation

Third Amendment to Amended and Restated Credit Agreement

Signature Page

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CANADIAN IMPERIAL Bank OF COMMERCE,

 

NEW YORK BRANCH, as a Bank

 

 

 

By:  /s/ Robert Robin 

 

Name:  Robert Robin

 

Title:    Authorized Signatory

 

 

 

By:  /s/ Melissa E. Brown 

 

Name:  Melissa E. Brown

 

Title:    Authorized Signatory

 

 

Alliance Data Systems Corporation

Third Amendment to Amended and Restated Credit Agreement

Signature Page

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CITIZENS Bank, N.A., as a Bank

 

 

 

By:  /s/ Tyler Stephens 

 

Name:  Tyler Stephens

 

Title:    Vice President

 

 

Alliance Data Systems Corporation

Third Amendment to Amended and Restated Credit Agreement

Signature Page

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banco bilbao vizcaya argentaria, S.A.

 

New york branch, as a Bank

 

 

 

By:  /s/ Brian Crowley 

 

Name:  Brian Crowley

 

Title:    Managing Director

 

 

 

By:  /s/ Nurys Maleki 

 

Name:  Nurys Maleki

 

Title:    Executive Director

 

 

Alliance Data Systems Corporation

Third Amendment to Amended and Restated Credit Agreement

Signature Page

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KEYBank NATIONAL ASSOCIATION, as a Bank

 

 

 

By:  /s/ Geoff Smith 

 

Name:  Geoff Smith

 

Title:    Senior Vice President

 

 

Alliance Data Systems Corporation

Third Amendment to Amended and Restated Credit Agreement

Signature Page

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REGIONS Bank, as a Bank

 

 

 

By:  /s/ Stephanie Herndon 

 

Name:  Stephanie Herndon

 

Title:    Assistant Vice President

 

 

Alliance Data Systems Corporation

Third Amendment to Amended and Restated Credit Agreement

Signature Page

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U.S. Bank NATIONAL ASSOCIATION, as a Bank

 

 

 

By:  /s/ Michael D. Smith 

 

Name:  Michael D. Smith

 

Title:    Senior Vice President

 

 

Alliance Data Systems Corporation

Third Amendment to Amended and Restated Credit Agreement

Signature Page

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DEUTSCHE BANK AG NEW YORK BRANCH, as a

 

Bank

 

 

 

By:  /s/ Yumi Okabe 

 

Name:  Yumi Okabe

 

Title:    Vice President

 

 

 

By:  /s/ Marguerite Sutton 

 

Name:  Marguerite Sutton

 

Title:    Vice President

 

 

Alliance Data Systems Corporation

Third Amendment to Amended and Restated Credit Agreement

Signature Page

--------------------------------------------------------------------------------

 

 

 

 

 

 

MORGAN STANLEY SENIOR FUNDING, INC., as a

 

Bank

 

 

 

By:  /s/ Cindy Tse 

 

Name:  Cindy Tse

 

Title:    Authorized Signatory

 

 

 

Alliance Data Systems Corporation

Third Amendment to Amended and Restated Credit Agreement

Signature Page

--------------------------------------------------------------------------------

 

 

 

 

 

 

Raymond James Bank, N.A., as a Bank

 

 

 

By:  /s/ Joseph A. Ciccolini 

 

Name:  Joseph A. Ciccolini

 

Title:    Senior Vice President – Corporate Banking

 

 

Alliance Data Systems Corporation

Third Amendment to Amended and Restated Credit Agreement

Signature Page

--------------------------------------------------------------------------------

 

 

 

 

 

 

THE NORTHERN TRUST COMPANY, as a Bank

 

 

 

By:  /s/ Wicks Barkhausen 

 

Name:  Wicks Barkhausen

 

Title:    Senior Vice President

 

 

Alliance Data Systems Corporation

Third Amendment to Amended and Restated Credit Agreement

Signature Page

--------------------------------------------------------------------------------

 

 

 

 

 

 

CITIBANK, N.A., as a Bank

 

 

 

By:  /s/ Marina Donskaya 

 

Name:  Marina Donskaya

 

Title:    Vice President

 

 

Alliance Data Systems Corporation

Third Amendment to Amended and Restated Credit Agreement

Signature Page

--------------------------------------------------------------------------------

 

 

 

 

 

 

THE HUNTINGTON NATIONAL BANK, as a Bank

 

 

 

By:  /s/ Dan Swanson 

 

Name:  Dan Swanson

 

Title:    Vice President

 

 

Alliance Data Systems Corporation

Third Amendment to Amended and Restated Credit Agreement

Signature Page

--------------------------------------------------------------------------------

 

 

 

 

 

 

ING Bank N.V., Dublin Branch, as a Bank

 

 

 

By:  /s/ Sean Hassett 

 

Name:  Sean Hassett

 

Title:    Director

 

 

 

By:  /s/ Padraig Matthews 

 

Name:  Padraig Matthews

 

Title:    Director

 

 

Alliance Data Systems Corporation

Third Amendment to Amended and Restated Credit Agreement

Signature Page

--------------------------------------------------------------------------------

 

 

 

 

 

 

SYNOVUS Bank, as a Bank

 

 

 

By:  /s/ Chandra Cockrell 

 

Name:  Chandra Cockrell

 

Title:    Corporate Banker

 

 

Alliance Data Systems Corporation

Third Amendment to Amended and Restated Credit Agreement

Signature Page

--------------------------------------------------------------------------------

 

 

 

 

 

 

CADENCE Bank, N.A., as a Bank

 

 

 

By:  /s/ Ronald K. Baker 

 

Name:  Ronald K. Baker

 

Title:    Executive Vice President

 

 

Alliance Data Systems Corporation

Third Amendment to Amended and Restated Credit Agreement

Signature Page

--------------------------------------------------------------------------------

 

 

 

 

 

 

Associated Bank, N.A., as a Bank

 

 

 

By:  /s/ Dean H. Rosencrans 

 

Name:  Dean H. Rosencrans

 

Title:    Senior Vice President

 

 

Alliance Data Systems Corporation

Third Amendment to Amended and Restated Credit Agreement

Signature Page

--------------------------------------------------------------------------------

 

 

 

 

 

 

The Bank of East Asia, Limited, Los

 

Angeles Branch, as a Bank

 

 

 

By:  /s/ David Loh 

 

Name:  David Loh

 

Title:    EVP & Chief Lending Officer

 

 

 

By:  /s/ Simon Keung 

 

Name:  Simon Keung

 

Title:    General Manager

 

 

Alliance Data Systems Corporation

Third Amendment to Amended and Restated Credit Agreement

Signature Page

--------------------------------------------------------------------------------

 

 

 

 

 

 

Land Bank of Taiwan Los Angeles

 

Branch, as a Bank

 

 

 

By:  /s/ Kuang Wei Chang 

 

Name:  Kuang Wei Chang

 

Title:    V.P. & General Manager

 

 

 

Alliance Data Systems Corporation

Third Amendment to Amended and Restated Credit Agreement

Signature Page

--------------------------------------------------------------------------------

 

 

 

 

 

 

Taiwan Cooperative Bank Ltd., Acting

 

Through Its New York Branch, as a Bank

 

 

 

By:  /s/ Li Hua Huang 

 

Name:  Li Hua Huang

 

Title:    SVP & General Manager

 

 

Alliance Data Systems Corporation

Third Amendment to Amended and Restated Credit Agreement

Signature Page

--------------------------------------------------------------------------------

 

 

 

 

 

 

Mega International Commercial Bank

 

Co., Ltd., Silicon Valley Branch, as a Bank

 

 

 

By:  /s/ Nian Tzy Yeh 

 

Name:  Nian Tzy Yeh

 

Title:    SVP & General Manager

 

 

Alliance Data Systems Corporation

Third Amendment to Amended and Restated Credit Agreement

Signature Page

--------------------------------------------------------------------------------

 

 

 

 

 

 

TAIWAN BUSINESS Bank, LTD., NEW YORK

 

Branch, as a Bank

 

 

 

By:  /s/ Melissa Cheng 

 

Name:  Melissa Cheng

 

Title:    Deputy General Manager

 

 

Alliance Data Systems Corporation

Third Amendment to Amended and Restated Credit Agreement

Signature Page

--------------------------------------------------------------------------------

 

 

 

 

 

 

FIRST HAWAIIAN Bank, as a Bank

 

 

 

By:  /s/ Todd T. Nitta 

 

Name:  Todd T. Nitta

 

Title:    Senior Vice President

 

 

Alliance Data Systems Corporation

Third Amendment to Amended and Restated Credit Agreement

Signature Page

--------------------------------------------------------------------------------

 

 

 

 

 

 

Banco de Sabadell, S.A. – Miami Branch, as

 

a Bank

 

 

 

By:  /s/ Ignacio Alcaraz 

 

Name:  Ignacio Alcaraz

 

Title:    Head of Structured Finance Americas

 

 

Alliance Data Systems Corporation

Third Amendment to Amended and Restated Credit Agreement

Signature Page

--------------------------------------------------------------------------------

 

 

 

 

 

 

Chang Hwa Commercial Bank, Ltd., Los

 

Angeles Branch, as a Bank

 

 

 

By:  /s/ Wan-Chin Chang 

 

Name:  Wan-Chin Chang

 

Title:    VP & General Manager

 

 

Alliance Data Systems Corporation

Third Amendment to Amended and Restated Credit Agreement

Signature Page

--------------------------------------------------------------------------------

 

 

 

 

 

 

THE KOREA DEVELOPMENT BANK, New YORK

 

Branch, as a Bank

 

 

 

By:  /s/ Young Eun Ban 

 

Name:  Young Eun Ban

 

Title:    General Manager

 

 

Alliance Data Systems Corporation

Third Amendment to Amended and Restated Credit Agreement

Signature Page

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VIRTUS SEIX FLOATING RATE HIGH INCOME

 

FUND, as a Lender

 

By: Seix Investment Advisors LLC, as Subadviser

 

 

 

By:  /s/ Deirdre A. Dillon, Esq. 

 

Name:  Deirdre A. Dillon, Esq.

 

Title:    Chief Compliance Officer

 

 

Alliance Data Systems Corporation

Third Amendment to Amended and Restated Credit Agreement

Signature Page

--------------------------------------------------------------------------------

 

 

 

 

 

 

MIDFIRST Bank, as a Bank

 

 

 

By:  /s/ Tim Daniels 

 

Name:  Tim Daniels

 

Title:    Managing Director

 

 

Alliance Data Systems Corporation

Third Amendment to Amended and Restated Credit Agreement

Signature Page

--------------------------------------------------------------------------------

 

 

 

 

 

 

FIRST NATIONAL Bank of OMAHA, as a Bank

 

 

 

By:  /s/ Dale Ervin 

 

Name:  Dale Ervin

 

Title:    Senior Advisor

 

 

Alliance Data Systems Corporation

Third Amendment to Amended and Restated Credit Agreement

Signature Page

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SEIX MULTI-SECTOR ABSOLUTE RETURN FUND

 

L.P., as a Lender

 

By: Seix Multi-Sector Absolute Return Fund GP LLC,

 

in its capacity as sole general partner

 

By: Seix Investment Advisors LLC, its sole member

 

 

 

By:  /s/ Deirdre A. Dillon, Esq. 

 

Name:  Deirdre A. Dillon, Esq.

 

Title:    Chief Compliance Officer

 

 

Alliance Data Systems Corporation

Third Amendment to Amended and Restated Credit Agreement

Signature Page

--------------------------------------------------------------------------------

 

 

 

 

 

 

BLUE CROSS OF IDAHO HEALTH SERVICE, INC.,

 

as a Lender

 

By: Seix Investment Advisors LLC, as Investment

 

Manager

 

 

 

By:  /s/ Deirdre A. Dillon, Esq. 

 

Name:  Deirdre A. Dillon, Esq.

 

Title:    Chief Compliance Officer

 

 

 

 

Alliance Data Systems Corporation

Third Amendment to Amended and Restated Credit Agreement

Signature Page

--------------------------------------------------------------------------------

 

 

SCHEDULE I

 

REVOLVING CREDIT COMMITMENTS

(as of the Third Amendment Effective Date)

 

 

 

 

BANK

REVOLVING CREDIT COMMITMENT

Wells Fargo Bank, National Association

$69,100,537.49

Bank of America, N.A.

$69,100,537.49

MUFG Bank, Ltd.

$69,100,537.49

JPMorgan Chase Bank, National Association.

$62,974,578.99

Mizuho Bank Ltd.

$62,974,578.99

SunTrust Bank

$62,974,578.99

BNP Paribas

$58,035,396.32

Fifth Third Bank

$58,035,396.32

Royal Bank of Canada

$58,035,396.32

Sumitomo Mitsui Banking Corporation

$58,035,396.32

The Bank of Nova Scotia

$58,035,396.32

Canadian Imperial Bank of Commerce, New York Branch

$49,391,826.65

Citibank, N.A.

$49,391,826.65

Citizens Bank, N.A.

$37,043,869.99

Banco Bilbao Vizcaya Argentaria, S.A., New York Branch

$37,043,869.99

Key Bank National Association

$37,043,869.99

Regions Bank

$30,869,891.66

U.S. Bank National Association

$30,869,891.66

Deutsche Bank AG New York Branch

$34,100,940.32

Morgan Stanley Senior Funding, Inc.

$24,695,913.33

The Northern Trust Company

$18,521,935.00

The Huntington National Bank

$14,817,547.99

ING Bank N.V., Dublin Branch

$12,347,956.66

Cadence Bank, N.A.

$7,408,774.00

First National Bank of Omaha

$2,469,591.32

Total

$1,072,420,036.25 

 

 

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