Exhibit 10.1
 
 
 
July 25, 2013

Administrative Agent and Lenders under
that certain Credit Agreement described below
c/o: Bank of America, N.A.,
as Administrative Agent
100 Federal Street
Boston, Massachusetts 02110

 
Re:
Extension of Time for Delivery of 2012 Audited Financial Statements

Ladies and Gentlemen:

Reference is made to that certain Amended and Restated Credit Agreement, dated
as of April 29, 2011 (as amended, restated, supplemented or otherwise modified
from time to time, the “Credit Agreement”; capitalized terms used herein but not
defined herein shall have the meanings specified in the Credit Agreement) among
Barnes & Noble Inc., a Delaware corporation (the “Lead Borrower”), the other
Persons party thereto as borrowers (collectively, together with the Lead
Borrower, the “Borrowers”), Bank of America, N.A., as administrative agent (the
“Administrative Agent”) and Collateral Agent (the “Collateral Agent”), and each
of the financial institutions party thereto from time to time as Lenders
(collectively, the “Lenders”) and/or agents.

The Lead Borrower has notified the Administrative Agent and the Lenders that it
may need, and hereby requests that the Required Lenders consent to, an extension
of no more than sixty (60) days after the date specified in the Credit Agreement
for the delivery of annual financial statements for the fiscal year ending April
27, 2013 in accordance with Section 6.01(a) of the Credit Agreement and the
related Compliance Certificate in accordance with Section 6.02(a) of the Credit
Agreement (collectively, the “2013 Annual Reporting Deliverables”).

By executing and delivering this consent letter, the Administrative Agent and
each undersigned Lender hereby agrees that, effective upon the Consent Effective
Date (as defined below), the undersigned Required Lenders hereby (a) consent to
delay of the delivery of the 2013 Annual Reporting Deliverables until the
earlier of (i) September 24, 2013 and (ii) the date on which such financials are
filed with the SEC (such earlier date, the “Extended Delivery Deadline”), and
(b) agree that any delivery of the 2013 Annual Reporting Deliverables after the
date specified in the Credit Agreement but on or before the Extended Delivery
Deadline shall not result in, or be deemed to give rise to, an Event of
Default.  The Lenders (x) further acknowledge and agree that the Company will
not be able to deliver (or file with the SEC) the quarterly financial statements
for the period ending July 27, 2013, until it has first delivered the 2013
Annual Reporting Deliverables and filed the 2013 annual financial statements
included therein with the SEC, and (y) hereby waive any Default arising
therefrom solely to the extent any such delayed filing of such quarterly
financials results from the permitted delay in filing the annual financials.
 
 
 
 
 

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Please acknowledge your consent to the matters set forth herein upon the terms
and conditions set forth herein and otherwise in accordance with the Credit
Agreement by executing and returning this consent letter at your earliest
convenience.  The forgoing consent shall become effective, so long as no Default
or Event of Default has occurred and is continuing (other than as a result of
the failure to timely deliver the 2013 Annual Reporting Deliverables), on the
date (the “Consent Effective Date”) that the following conditions have been
satisfied: (a) the Administrative Agent shall have received executed signature
pages hereto from the Loan Parties, the Agents and the Required Lenders, and (b)
the Borrowers have paid to the Administrative Agent, for the ratable benefit of
the Lenders party hereto (the “Consenting Lenders”), a consent fee equal to
0.025% of the aggregate Commitments of the Consenting Lenders (the “Initial
Consent Fee”); provided, that the Initial Consent Fee shall be fully earned upon
the delivery by the Administrative Agent to the Borrower of the executed
signature pages of at least the Required Lenders, and thereafter shall be
immediately due and payable regardless of whether any other conditions to the
effectiveness of this consent letter are satisfied.

The Lead Borrower further agrees, on behalf of the Borrowers and for the benefit
of the Consenting Lenders, that if the 2013 Annual Reporting Deliverables are
not delivered on or before August 25, 2013, the Borrowers immediately shall pay
to the Administrative Agent, for the ratable benefit of the Consenting Lenders,
an additional consent fee equal to 0.050% of the aggregate Commitments of the
Consenting Lenders.

Except as expressly provided with respect to the consent requested in this
consent letter, the Credit Agreement and each of the Schedules and Exhibits and
other Loan Documents related thereto shall remain in full force and effect and
the Credit Agreement and each of the other Loan Documents are hereby ratified
and confirmed in all respects.  No delay or omission by the Administrative Agent
or Lenders in exercising any power, right or remedy shall impair such power,
right or remedy or be construed as a waiver thereof or any acquiescence therein,
and no single, periodic or partial exercise of any such power, right or remedy
shall preclude other or further exercise thereof or the exercise of any other
power, right or remedy under the Credit Agreement, the other Loan Documents or
otherwise.  This consent letter is a Loan Document.  It may be executed in
counterparts which, taken together, shall constitute an original.  Delivery of
an executed counterpart of this consent letter by telecopier, PDF copy,
facsimile or other electronic means shall be effective as delivery of a manually
executed counterpart thereof.

THIS CONSENT LETTER SHALL BE GOVERNED BY, AND CONSTRUCTED IN ACCORDANCE WITH,
THE LAWS OF THE STATE OF NEW YORK.

[Signature pages follow]
 
 
 
 
 
 
 
 
 
2

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  BORROWERS:     BARNES & NOBLE, INC.     BARNES & NOBLE BOOKSELLERS, INC.    
BARNES & NOBLE INTERNATIONAL LLC     BARNES & NOBLE MARKETING SERVICES     CORP.
    BARNES & NOBLE MARKETING SERVICES LLC     BARNES & NOBLE PURCHASING, INC.  
 
BARNES & NOBLE SERVICES, INC.
    BARNESANDNOBLE.COM LLC     STERLING PUBLISHING CO., INC.     BARNES & NOBLE
COLLEGE BOOKSELLERS,     LLC     NOOK MEDIA INC.     NOOK MEDIA LLC            
   
 
By:
/s/ Thomas D. Donohue     Name:  Thomas D. Donohue      Title:  Vice President,
Treasurer          

 
 
 
 
 
 
 
 
 
 
Consent Letter
Signature Page
 

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ACKNOWLEDGED AND AGREED:

BANK OF AMERICA, N.A.,
as Administrative Agent and as Collateral Agent

By:
/s/ Andrew Cerussi 
Name:
Andrew Cerussi
Title:
Senior Vice President  

 
 
 
 
 
 
 
 
Consent Letter
Signature Page
 

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ACKNOWLEDGED AND AGREED:

BANK OF AMERICA, N.A.,
as a Lender, LC Issuer and Swing Line Lender

By:
/s/ Andrew Cerussi
Name:
Andrew Cerussi
Title:
Senior Vice President

 
 
 
 
 
 
 
 
 
 
Consent Letter
Signature Page
 

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ACKNOWLEDGED AND AGREED:
 
Institution:  CAPITALSOURCE BANK
 
By:
/s/ Robert Dailey 
Name:
Robert Dailey
Title:
Senior Vice President

 

 
 
 
 
 
 
 
 
Consent Letter
Signature Page
 

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ACKNOWLEDGED AND AGREED:
 
Institution:  CIT BANK
 
By:
/s/ Renee M. Singer 
Name:
Renee M. Singer
Title:
Managing Director

 
 
 
 
 
 
 

 
 
Consent Letter
Signature Page
 

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ACKNOWLEDGED AND AGREED:
 
Institution:  COLE TAYLOR BANK
 
By:
/s/ Richard A. Simons 
Name:
Richard A. Simons
Title:
Vice President

 
 
 

 
 
 
 
 
 
Consent Letter
Signature Page
 

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ACKNOWLEDGED AND AGREED:
 
Institution:  CAPITAL ONE LEVERAGE FINANCE CORP.
 
By:
/s/ Julianne Low 
Name:
Julianne Low
Title:
Vice President

 
 
 
 
 

 
 
 
 
Consent Letter
Signature Page
 

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ACKNOWLEDGED AND AGREED:
 
Institution:  COMPASS BANK
 
By:
/s/ Michael Sheff 
Name:
Michael Sheff
Title:
Senior Vice President

 
 
 
 
 
 
 
 

 
Consent Letter
Signature Page
 

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ACKNOWLEDGED AND AGREED:
 
Institution:  GENERAL ELECTRIC CAPITAL CORPORATION
 
By:
/s/ Peter F. Crispino
Name:
Peter F. Crispino
Title:
Duly Authorized Signatory

 
 
 
 
 
 

 
 
 
Consent Letter
Signature Page
 

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ACKNOWLEDGED AND AGREED:
 
Institution:  JPMORGAN CHASE BANK, N.A.
 
By:
/s/ Jennifer Heard
Name:
Jennifer Heard
Title:
Authorized Officer

 
 
 
 
 
 
 
 

 
Consent Letter
Signature Page
 

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ACKNOWLEDGED AND AGREED:
 
Institution:  PNC BANK, N.A.
 
By:
/s/ Thanwantie Somar
Name:
Thanwantie Somar
Title:
AVP

 
 
 
 
 
 
 
 

 
Consent Letter
Signature Page
 

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ACKNOWLEDGED AND AGREED:
 
Institution:  RBS BUSINESS CAPITAL, a division of RBS ASSET FINANCE, INC.
 
By:
/s/ Francis Garvin
Name:
Francis Garvin
Title:
Senior Vice President

 
 
 
 
 
 
 
 

 
Consent Letter
Signature Page
 

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ACKNOWLEDGED AND AGREED:
 
Institution:  REGIONS BANK
 
By:
/s/ Louis Alexander
Name:
Louis Alexander
Title:
Attorney in Fact

 
 
 
 
 
 
 
 

 
Consent Letter
Signature Page
 

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ACKNOWLEDGED AND AGREED:
 
Institution:  Siemens Financial Services, Inc.
 
By:
/s/ Sharon Prusakempli
Name:
Sharon Prusakempli
Title:
Vice President

 
 
Institution:  Siemens Financial Services, Inc.
 
By:
/s/ John Finoize
Name:
John Finoize
Title:
Vice President

 
 
 
 
 

 
 
 
Consent Letter
Signature Page
 

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ACKNOWLEDGED AND AGREED:
 
Institution:  SunTrust Bank
 
By:
/s/ Nigel Fabien
Name:
Nigel Fabien
Title:
Vice President

 
 
 
 
 
 
 
 

 
Consent Letter
Signature Page
 

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ACKNOWLEDGED AND AGREED:
 
Institution:  TD BANK, N.A.
As Lender
 
By:
/s/ Edmundo Kahn
Name:
Edmundo Kahn
Title:
Vice President

 
 
 
 
 
 
 
 

 
Consent Letter
Signature Page
 

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ACKNOWLEDGED AND AGREED:
 
Institution:  U.S. Bank National Association, as Lender
 
By:
/s/ Matthew Kasper
Name:
Matthew Kasper
Title:
Vice President

 
 
 
 
 
 
 
 
 
 
Consent Letter
Signature Page
 

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ACKNOWLEDGED AND AGREED:
 
Institution:  Wells Fargo Bank, N.A.
 
By:
/s/ Adam B. Davis
Name:
Adam B. Davis
Title:
Director

 
 
 
 
 
 
 
 
Consent Letter
Signature Page

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