Exhibit 10.1

EXECUTION VERSION

MASTER EXTENSION, NEW COMMITMENT AND AMENDMENT AGREEMENT

Dated as of December 4, 2013

among

AUTOZONE, INC.,

as Borrower,

THE SEVERAL LENDERS

FROM TIME TO TIME PARTY HERETO

AND

BANK OF AMERICA, N.A.,

as Administrative Agent and Swingline Lender

and

JPMORGAN CHASE BANK, N.A.,

as Syndication Agent

 

 

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED

and

J.P. MORGAN SECURITIES LLC,

as Joint Lead Arrangers

and

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED,

J.P. MORGAN SECURITIES LLC,

SUNTRUST ROBINSON HUMPHREY, INC.,

U.S. BANK NATIONAL ASSOCIATION,

WELLS FARGO SECURITIES, LLC

and

BARCLAYS CAPITAL,

as Joint Book Runners

and

SUNTRUST BANK,

U.S. BANK NATIONAL ASSOCIATION,

WELLS FARGO BANK, NATIONAL ASSOCIATION

and

BARCLAYS BANK PLC,

as Documentation Agents

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MASTER EXTENSION, NEW COMMITMENT AND AMENDMENT AGREEMENT

Reference is made to the Amended and Restated Credit Agreement dated as of
September 13, 2011, as amended, modified, extended or restated from time to time
(the “Credit Agreement”) among AutoZone, Inc., the Lenders party thereto, Bank
of America, N.A., as Administrative Agent and JPMorgan Chase Bank, N.A., as
Syndication Agent. Terms defined in the Credit Agreement are used herein with
the same meanings.

1. Each undersigned Lender hereby confirms its Revolving Commitment, effective
as of the Effective Date set forth below, to make Loans under the Credit
Agreement up to the principal amount of such Revolving Commitment as set forth
on Schedule 2.1(a) attached hereto and, if applicable, agrees that its existing
Revolving Commitment is hereby replaced. If the undersigned Lender is not
already a Lender under the Credit Agreement, such Lender hereby acknowledges,
agrees and confirms that, by its execution of this Agreement, such Lender will,
as of the Effective Date, be a party to the Credit Agreement and be bound by the
provisions of the Credit Agreement and, to the extent of its Revolving
Commitment, have the rights and obligations of a Lender thereunder. Furthermore,
each undersigned Lender (together constituting Required Lenders under the Credit
Agreement), the Borrower and the Administrative Agent agree that (a) the
$250,000,000 increase option pursuant to Section 3.4(b) of the Credit Agreement
is hereby “refreshed” as of the Effective Date, (b) to that end, the references
to “$250,000,000” and “$1,250,000,000” set forth in Section 3.4(b)(i) of the
Credit Agreement are hereby amended to read “$500,000,000” and “$1,500,000,000,”
respectively, and (c) in Section 3.4(d) of the Credit Agreement, the words “make
a single written request of the Lenders to extend the Termination Date hereunder
for an additional period of one (1) year” are hereby replaced with the following
“(i) prior to December 4, 2013, make one written request of the Lenders to
extend the Termination Date and (ii) after December 4, 2013, make one additional
written request of the Lenders to extend the Termination Date then in effect, in
each case, for an additional period of one (1) year.”

2. Each undersigned Lender hereby agrees that, pursuant to Section 3.4(d) of the
Credit Agreement and effective as of the Effective Date, the Termination Date
relating to its Commitment is extended by one (1) year to September 13, 2017,
unless otherwise indicated on Schedule 2.1(a) attached hereto.

3. The parties hereto agree that, effective as of the Effective Date, Schedule
2.1(a) to the Credit Agreement is restated in its entirety to read as set forth
on Schedule 2.1(a) attached hereto. The Borrower hereby ratifies and reaffirms
the Credit Agreement, as amended hereby, and the other Credit Documents and
acknowledges and reaffirms that, after giving effect to the increase in the
Revolving Commitments pursuant to this Agreement and the other amendments
contained herein, it is bound by all terms of this Credit Agreement and the
other Credit Documents

4. The Borrower agrees to pay on the Effective Date all fees and expenses
relating to this Agreement which are due and payable on such date, including all
reasonable out-of-pocket costs and expenses of the Administrative Agent in
connection with the preparation, execution and delivery of this Amendment
(including, without limitation, the reasonable fees and expenses of Moore & Van
Allen PLLC, special counsel to the Administrative Agent).

5. Subject to (a) receipt by the Administrative Agent of (i) executed signature
pages to this Agreement from the Borrower, each Lender party hereto (which, for
the avoidance of doubt, must constitute Required Lenders) and the Administrative
Agent and (ii) the items required to be delivered by the Borrower pursuant to
clauses (A), (C) and (D) of Section 3.4(b)(ii) of the Credit Agreement (to the
extent applicable), and (b) payment by the Borrower of the fees set forth in
Section 4 above, the Effective Date of the extensions and new Revolving
Commitments pursuant to this Agreement shall be December 4, 2013.

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6. Nothing contained in this Agreement shall be deemed to constitute a waiver of
any rights or remedies the Administrative Agent or any Lender may have under the
Credit Agreement or any other Credit Documents or under applicable law.

7. This Agreement shall be governed by and construed in accordance with the laws
of the State of New York.

8. This Agreement shall constitute a Credit Document.

9. This Agreement may be executed in any number of counterparts, each of which
where so executed and delivered shall be an original, but all of which shall
constitute one and the same instrument. It shall not be necessary in making
proof of this Agreement to produce or account for more than one such
counterpart.

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IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
executed as of the December 4, 2013.

 

BORROWER:     AUTOZONE, INC.     By:  

/s/ William T. Giles

    Name:   William T. Giles     Title:   Executive Vice President and      
Chief Financial Officer

    By:  

/s/ Brian L. Campbell

    Name:   Brian L. Campbell     Title:   Vice President and Treasurer

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ADMINISTRATIVE AGENT:    

BANK OF AMERICA, N.A.,

as Administrative Agent

    By:  

/s/ Don B. Pinson

    Name:   Don B. Pinson     Title:   Vice President

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LENDERS:    

BANK OF AMERICA, N.A.,

as a Lender

    By:  

/s/ Sabrina Hassan

    Name:   Sabrina Hassan     Title:   Vice President

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JPMORGAN CHASE BANK, N.A.,

as a Lender

    By:  

/s/ Sarah L. Freedman

    Name:   Sarah L. Freedman     Title:   Executive Director

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SUNTRUST BANK,

as a Lender

    By:  

/s/ Tesha Winslow

    Name:   Tesha Winslow     Title:   Vice President

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US BANK NATIONAL ASSOCIATION,

as a Lender

    By:  

/s/ Frances W. Josephic

    Name:   Frances W. Josephic     Title:   Vice President

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WELLS FARGO BANK, N.A.,

as a Lender

    By:  

/s/ Nathan R. Rantala

    Name:   Nathan R. Rantala     Title:   Director

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BARCLAYS BANK PLC,

as a Lender

    By:  

/s/ Ritam Bhalla

    Name:   Ritam Bhalla     Title:   Director

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KEYBANK NATIONAL ASSOCIATION,

as a Lender

    By:  

/s/ Marianne T. Meil

    Name:   Marianne T. Meil     Title:   Senior Vice President

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MIZUHO BANK, LTD.,

as a Lender

    By:  

/s/ Tenya Mitsuboshi

    Name:   Tenya Mitsuboshi     Title:   Deputy General Manager

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FIFTH THIRD BANK,

as a Lender

    By:  

/s/ Lisa R. Cook

    Name:   Lisa R. Cook     Title:   Vice President

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PNC BANK, NATIONAL ASSOCIATION,

as a Lender

    By:  

/s/ John Thurman

    Name:   JOHN THURMAN     Title:   SENIOR VICE PRESIDENT

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The Bank of Tokyo Mitsubishi, UFJ Ltd.,

as a Lender

    By:  

/s/ Thomas Danielson

    Name:   Thomas Danielson     Title:   Authorized Signatory

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REGIONS BANK,

as a Lender

    By:  

/s/ Bryan W. Ford

    Name:   Bryan W. Ford     Title:   Senior Vice President

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DEUTSCHE BANK AG NEW YORK BRANCH,

as a Lender

    By:  

/s/ Ming K. Chu

    Name:   Ming K. Chu     Title:   Vice President

    By:  

/s/ Virginia Cosenza

    Name:   Virginia Cosenza     Title:   Vice President

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TD BANK, N.A.,

as a Lender

    By:  

/s/ Bernadette Collins

    Name:   Bernadette Collins     Title:   Senior Vice President

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COMERICA BANK,

as a Lender

    By:  

/s/ Heather A. Whiting

    Name:   Heather A. Whiting     Title:   Vice President

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THE NORTHERN TRUST COMPANY,

as a Lender

    By:  

/s/ Michael Fornal

    Name:   Michael Fornal     Title:   Vice President

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HSBC BANK USA, NA,

as a Lender

    By:  

/s/ Santiago Riviere

    Name:   Santiago Riviere     Title:   Senior Vice President

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SANTANDER BANK, N.A.,

as a Lender

    By:  

/s/ Pedro Bell Astorza

    Name:   PEDRO BELL ASTORZA     Title:   SVP – CORPORATE BANKING

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THE HUNTINGTON NATIONAL BANK,

as a Lender

    By  

/s/ Joshua D. Elsea

    Name:   Joshua D. Elsea     Title:   Vice President

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BANK OF THE WEST,

as a Lender

    By:  

/s/ Camille Farnsworth-Schrader

    Name:   Camille Farnsworth-Schrader     Title:   Vice President

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CAPITAL ONE, NATIONAL ASSOCIATION,

as a Lender

    By:  

/s/ [illegible] for JV

    Name:   Jacob Villere     Title:   Relationship Manager

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COMPASS BANK,

as a Lender

    By:  

/s/ Michael Dixon

    Name:   Michael Dixon     Title:   Senior Vice President

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BRANCH BANKING AND TRUST COMPANY,

as a Lender

    By:  

/s/ R. Andrew Beam

    Name:   R. Andrew Beam     Title:   Senior Vice President

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UNION BANK N.A.,

as a Lender

    By:  

/s/ Katie Cunningham

    Name:   Katie Cunningham     Title:   Vice President

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Schedule 2.1(a)

LENDERS

 

Lender

   Commitment
Percentage     Revolving
Commitment  

Bank of America, N.A.

     11.200000000 %    $ 140,000,000.00   

JPMorgan Chase Bank, N.A.

     11.200000000 %    $ 140,000,000.00   

SunTrust Bank

     10.880000000 %    $ 136,000,000.00   

Wells Fargo Bank, National Association

     10.880000000 %    $ 136,000,000.00   

U.S. Bank National Association

     10.880000000 %    $ 136,000,000.00   

Barclays Bank PLC

     10.880000000 %    $ 136,000,000.00   

KeyBank National Association

     2.800000000 %    $ 35,000,000.00   

Mizuho Corporate Bank, Ltd.

     2.800000000 %    $ 35,000,000.00   

Fifth Third Bank

     2.800000000 %    $ 35,000,000.00   

PNC Bank, National Association

     2.800000000 %    $ 35,000,000.00   

The Bank of Tokyo-Mitsubishi UFJ, Ltd.

     2.800000000 %    $ 35,000,000.00   

Regions Bank

     2.800000000 %    $ 35,000,000.00   

Deutsche Bank AG New York Branch

     2.800000000 %    $ 35,000,000.00   

TD Bank, N.A.

     2.400000000 %    $ 30,000,000.00   

Comerica Bank

     1.440000000 %    $ 18,000,000.00   

The Northern Trust Company

     1.440000000 %    $ 18,000,000.00   

HSBC Bank USA, NA

     1.440000000 %    $ 18,000,000.00   

Santander Bank, N.A.

     1.440000000 %    $ 18,000,000.00   

The Huntington National Bank

     1.440000000 %    $ 18,000,000.00   

Bank of the West

     1.440000000 %    $ 18,000,000.00   

Capital One, National Association

     1.440000000 %    $ 18,000,000.00   

Compass Bank

     1.000000000 %    $ 12,500,000.00   

Branch Banking and Trust Company

     1.000000000 %    $ 12,500,000.00   

Union Bank N.A.

     0.000000000 %    $ 0.00   

Total:

     100.000000000 %    $ 1,250,000,000.00