Exhibit 10.1

MASTER EXTENSION, NEW COMMITMENT AND AMENDMENT AGREEMENT

Dated as of November 18, 2017

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 CHASE BANK, N.A.,

as Joint Lead Arrangers

and

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED,

J.P. CHASE BANK, N.A.,

SUNTRUST ROBINSON HUMPHREY, INC.,

U.S. BANK NATIONAL ASSOCIATION,

WELLS FARGO SECURITIES, LLC

and

BARCLAYS BANK PLC,

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 Third Amended and Restated Credit Agreement dated as of
November 18, 2016, 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 in this Master
Extension, New Commitment and Amendment Agreement (this “Agreement”) 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. In order to effect the modified
Revolving Commitments of the Lenders as of the Effective Date, assignments of
Revolving Commitments shall be deemed to be made among the applicable Lenders in
such amounts as may be necessary, and with the same force and effect as if such
assignments of Revolving Commitments were evidenced by Assignment and
Assumptions (but without the payment of any related assignment fee), and no
other notices, consents, or documents shall be required in connection with such
assignments (all of which, to the extent otherwise required are hereby waived).
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. The parties hereto acknowledge and agree that this Agreement
constitutes (x) a New Commitment Agreement substantially in the form of Schedule
3.4(b) to the Credit Agreement and (y) an Assignment and Assumption
substantially in the form of Schedule 10.3(a) to the Credit Agreement. For the
avoidance of doubt, with respect to any Lender whose Revolving Commitment as of
the Effective Date is zero, such Lender shall, as of the Effective Date, be
released from its obligations under the Credit Agreement (and cease to be a
party thereto), except for those obligations of Lenders in respect of expense
reimbursement and indemnification which by their express terms survive
termination of the Commitments, but shall continue to be entitled to the
benefits of Sections 3.9, 3.10 and 3.11 of the Credit Agreement with respect to
facts and circumstances occurring prior to the Effective Date.

2. Furthermore, each undersigned Lender (together constituting Required Lenders
under the Credit Agreement), the Borrower and the Administrative Agent agree
that (a) the $400,000,000 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 “$400,000,000” and “$2,000,000,000” set forth in
Section 3.4(b)(i) of the Credit Agreement are hereby amended to read
“$800,000,000 (inclusive of the $400,000,000 increase to the Revolving Committed
Amount effective as of November 18, 2017)” and “$2,400,000,000,” respectively,
(c) in Section 3.4(d) of the Credit Agreement, the words “up to two (2) written
requests” are hereby replaced with the following “make one written request” and
(d) in Section 3.4(d) of the Credit Agreement, the words “(x) in the case of the
first such request, no earlier than 60 days prior to the first anniversary of
the Closing Date, but no later than 45 days prior to the first anniversary of
the Closing Date and (y) in the case of the second such request,” are hereby
deleted.

3. Each undersigned Lender hereby agrees that (a) 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 November 18, 2022
and (b) the definition of “Termination Date” in Section 1.1 of the Credit
Agreement is amended to replace the reference to “November 18, 2021” with a
reference to “November 18, 2022.”

4. 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.

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5. 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).

6. 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 5 above, the Effective Date of the extensions and new Revolving
Commitments pursuant to this Agreement shall be November 18, 2017 (the
“Effective Date”).

7. 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.

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

9. This Agreement shall constitute a Credit Document.

10. 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. Delivery of an executed counterpart of a signature page by
telecopy, “pdf” or other electronic imaging means shall be effective as delivery
of a manually executed counterpart.

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IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
executed as of the date first written above.

 

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

 

  

AUTOZONE, INC.

MASTER EXTENSION AND

NEW COMMITMENT AGREEMENT (2017)

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ADMINISTRATIVE AGENT:    

BANK OF AMERICA, N.A.,

as Administrative Agent

      By:   /s/ Don B. Pinzon       Name:   Don B. Pinzon       Title:   Vice
President

 

  

AUTOZONE, INC.

MASTER EXTENSION AND

NEW COMMITMENT AGREEMENT (2017)

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LENDERS:    

BANK OF AMERICA, N.A.,

as a Lender

      By:   /s/ Aron Frey       Name:   Aron Frey       Title:   Vice President

 

  

AUTOZONE, INC.

MASTER EXTENSION AND

NEW COMMITMENT AGREEMENT (2017)

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JPMORGAN CHASE BANK, N.A.,

as a Lender

      By:   /s/ Tony Yung       Name:   Tony Yung       Title:   Executive
Director

 

  

AUTOZONE, INC.

MASTER EXTENSION AND

NEW COMMITMENT AGREEMENT (2017)

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BARCLAYS BANK PLC,

as a Lender

      By:   /s/ Ritam Bhalla       Name:   Ritam Bhalla       Title:   Director

 

  

AUTOZONE, INC.

MASTER EXTENSION AND

NEW COMMITMENT AGREEMENT (2017)

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SUNTRUST BANK,

as a Lender

      By:   /s/ David Ernst       Name:   David Ernst       Title:   Vice
President

 

  

AUTOZONE, INC.

MASTER EXTENSION AND

NEW COMMITMENT AGREEMENT (2017)

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U.S. BANK NATIONAL ASSOCIATION,

as a Lender

      By:   /s/ Conan Schleicher       Name:   Conan Schleicher       Title:  
Senior Vice President

 

  

AUTOZONE, INC.

MASTER EXTENSION AND

NEW COMMITMENT AGREEMENT (2017)

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WELLS FARGO BANK, N.A.,

as a Lender

      By:   /s/ Irena Stavreska       Name:   Irena Stavreska       Title:  
Director

 

  

AUTOZONE, INC.

MASTER EXTENSION AND

NEW COMMITMENT AGREEMENT (2017)

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BANK OF THE WEST,

as a Lender

      By:   /s/ Brad Conley       Name:   Brad Conley       Title:   Director

 

  

AUTOZONE, INC.

MASTER EXTENSION AND

NEW COMMITMENT AGREEMENT (2017)

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BRANCH BANKING AND TRUST COMPANY,

as a Lender

      By:   /s/ Sean Miller       Name:   Sean Miller       Title:   Vice
President

 

  

AUTOZONE, INC.

MASTER EXTENSION AND

NEW COMMITMENT AGREEMENT (2017)

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CAPITAL ONE, NATIONAL ASSOCIATION,

as a Lender

      By:   /s/ Jeremy Mipro       Name:   Jeremy Mipro       Title:   Vice
President

 

  

AUTOZONE, INC.

MASTER EXTENSION AND

NEW COMMITMENT AGREEMENT (2017)

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CITIBANK, N.A.,

as a Lender

      By:   /s/ Anita Philip       Name:   Anita Philip       Title:   Vice
President

 

  

AUTOZONE, INC.

MASTER EXTENSION AND

NEW COMMITMENT AGREEMENT (2017)

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CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK,

as a Lender

      By:   /s/ Gordon Yip       Name:   Gordon Yip       Title:   Director

 

      By:   /s/ Gary Herzog       Name:   Gary Herzog       Title:   Managing
Director

 

  

AUTOZONE, INC.

MASTER EXTENSION AND

NEW COMMITMENT AGREEMENT (2017)

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DEUTSCHE BANK AG NEW YORK BRANCH,

as a Lender

      By:   /s/ Ming K. Chu       Name:   Ming K. Chu       Title:   Director

 

      By:   /s/ Virginia Cosenza       Name:   Virginia Cosenza       Title:  
Vice President

 

  

AUTOZONE, INC.

MASTER EXTENSION AND

NEW COMMITMENT AGREEMENT (2017)

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FIFTH THIRD BANK,

as a Lender

      By:   /s/ Mary Ramsey       Name:   Mary Ramsey       Title:   Senior Vice
President

 

  

AUTOZONE, INC.

MASTER EXTENSION AND

NEW COMMITMENT AGREEMENT (2017)

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KEYBANK NATIONAL ASSOCIATION,

as a Lender

      By:   /s/ Marianne T. Meil       Name:   Marianne T. Meil       Title:  
Senior Vice President

 

  

AUTOZONE, INC.

MASTER EXTENSION AND

NEW COMMITMENT AGREEMENT (2017)

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MIZUHO BANK, LTD.,

as a Lender

      By:   /s/ Tracy Rahn       Name:   Tracy Rahn       Title:   Authorized
Signatory

 

  

AUTOZONE, INC.

MASTER EXTENSION AND

NEW COMMITMENT AGREEMENT (2017)

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PNC BANK, NATIONAL ASSOCIATION,

as a Lender

      By:   /s/ Creighton Reiss       Name:   Creighton Reiss       Title:  
Vice President

 

  

AUTOZONE, INC.

MASTER EXTENSION AND

NEW COMMITMENT AGREEMENT (2017)

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REGIONS BANK,

as a Lender

      By:   /s/ Jon-Paul Hickey       Name:   Jon-Paul Hickey       Title:  
Director

 

  

AUTOZONE, INC.

MASTER EXTENSION AND

NEW COMMITMENT AGREEMENT (2017)

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SANTANDER BANK, N.A.,

as a Lender

      By:   /s/ Andres Barbosa       Name:   Andres Barbosa       Title:  
Executive Director

 

  

AUTOZONE, INC.

MASTER EXTENSION AND

NEW COMMITMENT AGREEMENT (2017)

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TD BANK, N.A.,

as a Lender

      By:   /s/ Bernadette Collins       Name:   Bernadette Collins       Title:
  Senior Vice President

 

  

AUTOZONE, INC.

MASTER EXTENSION AND

NEW COMMITMENT AGREEMENT (2017)

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THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.,

as a Lender

      By:   /s/ Katie Cunningham       Name:   Katie Cunningham       Title:  
Vice President

 

  

AUTOZONE, INC.

MASTER EXTENSION AND

NEW COMMITMENT AGREEMENT (2017)

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COMERICA BANK,

as a Lender

      By:   /s/ Robert Wilson       Name:   Robert Wilson       Title:   Vice
President

 

  

AUTOZONE, INC.

MASTER EXTENSION AND

NEW COMMITMENT AGREEMENT (2017)

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COMPASS BANK,

as a Lender

      By:   /s/ Khoa Duong       Name:   Khoa Duong       Title:   Senior Vice
President

 

  

AUTOZONE, INC.

MASTER EXTENSION AND

NEW COMMITMENT AGREEMENT (2017)

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HSBC BANK USA, NA.

as a Lender

      By:   /s/ Jaime Eng Mariano       Name:   Jaime Eng Mariano       Title:  
Senior Vice President #21440

 

  

AUTOZONE, INC.

MASTER EXTENSION AND

NEW COMMITMENT AGREEMENT (2017)

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SUMITOMO MITSUI BANKING CORPORATION,

as a Lender

      By:   /s/ Katsuyuki Kubo       Name:   Katsuyuki Kubo       Title:  
Managing Director

 

  

AUTOZONE, INC.

MASTER EXTENSION AND

NEW COMMITMENT AGREEMENT (2017)

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THE HUNTINGTON NATIONAL BANK,

as a Lender

      By:   /s/ Joshua D. Elsea       Name:   Joshua D. Elsea       Title:  
Senior Vice President

 

  

AUTOZONE, INC.

MASTER EXTENSION AND

NEW COMMITMENT AGREEMENT (2017)

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THE NORTHERN TRUST COMPANY,

as a Lender

      By:   /s/ John C. Canty       Name:   John C. Canty       Title:   Senior
Vice President

 

  

AUTOZONE, INC.

MASTER EXTENSION AND

NEW COMMITMENT AGREEMENT (2017)

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BANCO SANTANDER S.A.,

as a Lender

      By:   /s/ Isabel Pastor       Name:   Isabel Pastor       Title:   VP    
  By:   /s/ Paloma Garcia       Name:   Paloma Garcia       Title:   VP

 

  

AUTOZONE, INC.

MASTER EXTENSION AND

NEW COMMITMENT AGREEMENT (2017)

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Schedule 2.1(a)

LENDERS

 

Lender

   Commitment
Percentage     Revolving
Commitment  

Bank of America, N.A.

     8.312500000 %    $ 166,250,000.00  

JPMorgan Chase Bank, N.A.

     8.312500000 %    $ 166,250,000.00  

Barclays Bank PLC

     8.000000000 %    $ 160,000,000.00  

SunTrust Bank

     8.000000000 %    $ 160,000,000.00  

U.S. Bank National Association

     8.000000000 %    $ 160,000,000.00  

Wells Fargo Bank, National Association

     8.000000000 %    $ 160,000,000.00  

Bank of the West

     3.000000000 %    $ 60,000,000.00  

Branch Banking and Trust Company

     3.000000000 %    $ 60,000,000.00  

Capital One, National Association

     3.000000000 %    $ 60,000,000.00  

Citibank, N.A.

     3.000000000 %    $ 60,000,000.00  

Credit Agricole Corporate and Investment Bank

     3.000000000 %    $ 60,000,000.00  

Deutsche Bank AG New York Branch

     3.000000000 %    $ 60,000,000.00  

Fifth Third Bank

     3.000000000 %    $ 60,000,000.00  

KeyBank National Association

     3.000000000 %    $ 60,000,000.00  

Mizuho Bank, Ltd.

     3.000000000 %    $ 60,000,000.00  

PNC Bank, National Association

     3.000000000 %    $ 60,000,000.00  

Regions Bank

     3.000000000 %    $ 60,000,000.00  

Santander Bank, N.A.

     3.000000000 %    $ 60,000,000.00  

TD Bank, N.A.

     3.000000000 %    $ 60,000,000.00  

The Bank of Tokyo-Mitsubishi UFJ, Ltd.

     3.000000000 %    $ 60,000,000.00  

Comerica Bank

     1.562500000 %    $ 31,250,000.00  

Compass Bank

     1.562500000 %    $ 31,250,000.00  

HSBC Bank USA, NA

     1.562500000 %    $ 31,250,000.00  

Sumitomo Mitsui Banking Corporation

     1.562500000 %    $ 31,250,000.00  

The Huntington National Bank

     1.562500000 %    $ 31,250,000.00  

The Northern Trust Company

     1.562500000 %    $ 31,250,000.00  

Banco Santander, S.A.

     0.000000000 %    $ 0.00  

Total:

     100.000000000 %    $ 2,000,000,000.00