Exhibit 10.1
Execution Version
SECOND AMENDMENT
     THIS SECOND AMENDMENT (this “Agreement”), is made and entered into as of
February 4, 2008, with an effective date set forth in Section 3 hereof, by and
among O’CHARLEY’S INC., a Tennessee corporation (the “Borrower”), the Lenders
party to the Credit Agreement referred to below (the “ Lenders “), and WACHOVIA
BANK, NATIONAL ASSOCIATION, as Administrative Agent (the “Administrative
Agent”).
Statement of Purpose
     The Borrower, the Lenders and the Administrative Agent are parties to that
certain Second Amended and Restated Credit Agreement dated as of October 18,
2006 (as amended, restated, supplemented or otherwise modified from time to
time, the “Credit Agreement”), pursuant to which the Lenders have extended
certain credit facilities to the Borrower.
     The Borrower has requested, and the Lenders and the Administrative Agent
have agreed, subject to the terms and conditions set forth herein, to amend the
Credit Agreement as specifically set forth herein.
     NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the parties hereto agree as
follows:
     1. Capitalized Terms. All capitalized undefined terms used in this
Agreement (including, without limitation, in the Statement of Purpose hereto)
shall have the meanings assigned thereto in the Credit Agreement.
     2. Amendment to Section 11.6 of the Credit Agreement. Subject to and in
accordance with the terms and conditions set forth herein, the Administrative
Agent and the Lenders hereby agree that Section 11.6(c) of the Credit Agreement
is hereby amended by replacing the amount “Fifty Million Dollars ($50,000,000)”
with “Sixty-Two Million Six Hundred Thousand Dollars ($62,600,000)”.
     3. Effectiveness. This Agreement shall become effective when, and only
when:
     (a) the Administrative Agent shall have received counterparts of this
Agreement executed by the Borrower, the Subsidiary Guarantors, the
Administrative Agent and the Required Lenders;
     (b) the Administrative Agent shall have been reimbursed by the Borrower for
all reasonable fees and out-of-pocket charges and other expenses incurred in
connection with this Agreement, the Credit Agreement, the other Loan Documents
and the transactions contemplated hereby and thereby, including, without
limitation, the fees and expenses set forth in Section 7 and the reasonable fees
and expenses of counsel to the Administrative Agent; and
     (c) the Administrative Agent shall have received any other documents or
instruments reasonably requested by the Administrative Agent in connection with
the execution of this Agreement.

 

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     4. Limited Effect. Except as expressly provided herein, the Credit
Agreement and the other Loan Documents shall remain unmodified and in full force
and effect. This Agreement 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 Credit
Agreement or any other Loan Document, (b) to prejudice any right or rights which
the Administrative Agent or the Lenders may now have or may have in the future
under or in connection with the Credit Agreement or the other Loan 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, (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 waiver, amendment, modification or any other
change to the Credit Agreement or the Loan Documents or any rights or remedies
arising in favor of the Lenders or the Administrative Agent, or any of them,
under or with respect to any such documents or (d) to be a waiver of, or consent
to or a modification or amendment of, any other term or condition of any other
agreement by and among the Borrower or any of its Subsidiaries, on the one hand,
and the Administrative Agent or any other Lender, on the other hand. References
in the Credit Agreement to “this Agreement” (and indirect references such as
“hereunder”, “hereby”, “herein”, “hereof” or other words of like import) and in
any Loan Document to the “Credit Agreement” shall be deemed to be references to
the Credit Agreement as modified hereby.
     5. Representations and Warranties/No Default. The Borrower represents and
warrants as follows:
     (a) The Borrower is a corporation duly organized, validly existing and in
good standing under the laws of the jurisdiction indicated at the beginning of
this Agreement.
     (b) The execution, delivery and performance by the Borrower of this
Agreement are within the Borrower’s corporate powers, have been duly authorized
by all necessary corporate action and do not contravene (i) the Borrower’s
charter or by-laws, (ii) any law or contractual restriction binding on or
affecting the Borrower, or result in, or require, the creation or imposition of
any mortgage, deed of trust, pledge, lien, security interest or other charge,
encumbrance or preferential arrangement of any nature upon or with respect to
any of the properties now owned or hereafter acquired by the Borrower (other
than as contemplated hereby).
     (c) No authorization, approval or other action by, and no notice to or
filing with, any governmental authority or regulatory body is required for the
due execution, delivery and performance by the Borrower of this Agreement.
     (d) This Agreement constitutes the legal, valid and binding obligation of
the Borrower and its Subsidiaries, as the case may be, enforceable against the
Borrower and its Subsidiaries, as the case may be, in accordance with its terms.
     (e) There is no pending or overtly threatened action or proceeding
affecting the Borrower or any of its Subsidiaries before any court, governmental
agency or arbitrator, which could reasonably be expected to materially adversely
affect the financial condition or operations

 

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of the Borrower or any of its Subsidiaries or which purports to affect the
legality, validity or enforceability of this Agreement.
     (f) After giving effect to this Agreement, (i) the representations and
warranties made by the Borrower pursuant to Article VII of the Credit Agreement
are true and correct with the same effect as if made on and as of the date
hereof, except for any representation and warranty made as of an earlier date,
which such representation and warranty shall remain true and correct as of such
earlier date and (ii) no Default or Event of Default has occurred and is
continuing.
     6. Acknowledgement and Reaffirmation. By their execution hereof:
     (a) Each of the Borrower and each Subsidiary Guarantor hereby expressly
(i) consents to the amendment set forth in this Agreement, (ii) reaffirms all of
its respective covenants, representations, warranties and other obligations set
forth in the Credit Agreement, the Collateral Agreement, the Subsidiary Guaranty
Agreement and the other Loan Documents to which it is a party and
(iii) acknowledges, represents and agrees that its respective covenants,
representations, warranties and other obligations set forth in the Credit
Agreement, the Collateral Agreement, the Subsidiary Guaranty Agreement and the
other Loan Documents to which it is a party remain in full force and effect; and
     (b) Each of the Borrower and each Subsidiary Guarantor hereby confirms that
each of the Security Documents to which it is a party shall continue to be in
full force and effect and is hereby ratified and reaffirmed in all respects as
if fully restated as of the date hereof by this Agreement. In furtherance of the
reaffirmations set forth in this Section 6, each of the Borrower and each
Subsidiary Guarantor hereby grants and assigns a security interest in all
Collateral identified in any Security Document as collateral security for the
Obligations and the Guaranteed Obligations (as defined in the Subsidiary
Guaranty Agreement).
     7. Costs, Expenses and Taxes. The Borrower agrees to pay on demand all
reasonable costs and expenses of the Administrative Agent in connection with the
preparation, execution, delivery, administration, modification and amendment of
this Agreement and the other instruments and documents to be delivered
hereunder, including, without limitation, the reasonable fees and out-of-pocket
expenses of counsel for the Administrative Agent with respect thereto and with
respect to advising the Administrative Agent as to its rights and
responsibilities hereunder and thereunder. The Borrower further agrees to pay on
demand all reasonable costs and expenses, if any (including, without limitation,
reasonable counsel fees and expenses), in connection with the enforcement
(whether through negotiations, legal proceedings or otherwise) of this Agreement
and any other instruments and documents to be delivered hereunder, including,
without limitation, reasonable counsel fees and expenses in connection with the
enforcement of rights under this Section 7. In addition, the Borrower shall pay
any and all stamp and other taxes payable or determined to be payable in
connection with the execution and delivery of this Agreement and any other
instruments and documents to be delivered hereunder, and agrees to save the
Administrative Agent and each Lender harmless from and against any and all
liabilities with respect to or resulting from any delay or omission to pay such
taxes.
     8. Execution in Counterparts. This Agreement may be executed in any number
of counterparts and by different parties hereto in separate counterparts, each
of which when so

 

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executed shall be deemed to be an original and all of which taken together shall
constitute one and the same agreement.
     9. Governing Law. This Agreement shall be governed by, construed and
enforced in accordance with and all issues related to the legality, validity or
enforceability hereof shall be determined under the laws of the State of New
York (including Section 5-1401 and Section 5-1402 of the General Obligations Law
of the State of New York), without regard to the other conflicts of law
principles thereof.
     10. Fax Transmission. A facsimile, telecopy or other reproduction of this
Agreement may be executed by one or more parties hereto, and an executed copy of
this Agreement may be delivered by one or more parties hereto by facsimile or
similar instantaneous electronic transmission device pursuant to which the
signature of or on behalf of such party can be seen, and such execution and
delivery shall be considered valid, binding and effective for all purposes. At
the request of any party hereto, all parties hereto agree to execute an original
of this Agreement as well as any facsimile, telecopy or other reproduction
hereof.
     11. Entire Agreement. This Agreement is the entire agreement, and
supersedes any prior agreements and contemporaneous oral agreements, of the
parties concerning its subject matter.
     12. Successors and Assigns. This Agreement shall be binding on and insure
to the benefit of the parties and their heirs, beneficiaries, successors and
assigns.
[Signature Pages Follow]

 

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     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be
executed under seal by their duly authorized officers, all as of the day and
year first written above.

            O’CHARLEY’S INC., as Borrower
      By:   /s/ Lawrence E. Hyatt         Name:   Lawrence E. Hyatt       
Title:   CFO / Secretary / Treasurer     

            SUBSIDIARY GUARANTORS:

O’CHARLEY’S MANAGEMENT COMPANY, INC.
      By:   /s/ Lawrence E. Hyatt         Name:   Lawrence E. Hyatt       
Title:   Secretary / Treasurer     

            STONEY RIVER MANAGEMENT COMPANY, INC.
      By:   /s/ Lawrence E. Hyatt         Name:   Lawrence E. Hyatt       
Title:   Secretary / Treasurer     

            STONEY RIVER, LLC
      By:   /s/ Lawrence E. Hyatt         Name:   Lawrence E. Hyatt       
Title:   Secretary / Treasurer     

[Signature Pages Continue]

 

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            O’CHARLEY’S RESTAURANT PROPERTIES, LLC
      By:   /s/ Lawrence E. Hyatt         Name:   Lawrence E. Hyatt       
Title:   Secretary / Treasurer     

            STONEY RIVER LEGENDARY MANAGEMENT, L.P.
      By:   Stoney River, LLC, its General Partner                      

                  By:   /s/ Lawrence E. Hyatt         Name:   Lawrence E. Hyatt 
      Title:   Secretary / Treasurer     

            AIR TRAVEL SERVICES, INC.
      By:   /s/ Lawrence E. Hyatt         Name:   Lawrence E. Hyatt       
Title:   Secretary / Treasurer     

            OCI, INC.
      By:   /s/ Lawrence E. Hyatt         Name:   Lawrence E. Hyatt       
Title:   Secretary / Treasurer     

            DFI, INC.
      By:   /s/ Lawrence E. Hyatt         Name:   Lawrence E. Hyatt       
Title:   Secretary / Treasurer     

[Signature Pages Continue]

 

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            O’CHARLEY’S SERVICE COMPANY, INC.
      By:   /s/ Lawrence E. Hyatt         Name:   Lawrence E. Hyatt       
Title:   Secretary / Treasurer     

            O’CHARLEY’S SPORTS BAR, INC.
      By:   /s/ Lawrence E. Hyatt         Name:   Lawrence E. Hyatt       
Title:   Secretary / Treasurer     

            O’CHARLEY’S FINANCE COMPANY, INC.
      By:   /s/ Lawrence E. Hyatt         Name:   Lawrence E. Hyatt       
Title:   Secretary / Treasurer     

            OPI, INC.
      By:   /s/ Lawrence E. Hyatt         Name:   Lawrence E. Hyatt       
Title:   Secretary / Treasurer     

            99 RESTAURANTS, LLC
      By:   /s/ Lawrence E. Hyatt         Name:   Lawrence E. Hyatt       
Title:   Secretary / Treasurer     

[Signature Pages Continue]

 

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            99 WEST, INC.
      By:   /s/ Lawrence E. Hyatt         Name:   Lawrence E. Hyatt       
Title:   Clerk / Treasurer     

            99 RESTAURANTS OF VERMONT, LLC
      By:   99 West, Inc., its Sole Member    

                  By:   /s/ Lawrence E. Hyatt         Name:   Lawrence E. Hyatt 
      Title:   Clerk / Treasurer     

            99 RESTAURANTS OF MASSACHUSETTS, a
Massachusetts business trust
      By:   /s/ Lawrence E. Hyatt         Name:   Lawrence E. Hyatt       
Title:   Secretary / Treasurer     

            99 COMMISSARY, LLC
      By:   /s/ Lawrence E. Hyatt         Name:   Lawrence E. Hyatt       
Title:   Secretary / Treasurer     

            99 RESTAURANTS OF BOSTON, LLC
      By:   /s/ Lawrence E. Hyatt         Name:   Lawrence E. Hyatt       
Title:   Secretary / Treasurer     

[Signature Pages Continue]

 

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            WACHOVIA BANK, NATIONAL ASSOCIATION,
as Administrative Agent and Lender
      By:   /s/ Martha M. Winters         Name:   Martha M. Winters       
Title:   Director     

[Signature Pages Continue]

 

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            U.S. Bank N.A.,
as Lender
      By:   /s/ Michael P. Dickman         Name:   Michael P. Dickman       
Title:   Vice President U.S. Bank, N.A.     

 

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            SunTrust Bank,
as Lender
      By:   /s/ Jean-Paul Purdy         Name:   Jean-Paul Purdy        Title:  
Director     

 

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            FIRST TENNESSEE BANK, N.A., as Lender
      By:   /s/ Ned Spitzer         Name:   Ned Spitzer        Title:   Vice
President     

 

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            BANK OF AMERICA, N.A.,
as Lender
      By:   /s/ John H. Schmidt         Name:   John H. Schmidt        Title:  
Vice President     

 

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            KeyBank National Association,
as Lender
      By:   /s/ Marianne T. Meil         Name:   Marianne T. Meil       
Title:   Senior Vice President     

 

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            REGIONS BANK
as Lender
      By:   /s/ Scott Corley         Name:   Scott Corley        Title:   Senior
Vice President     

 

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            JPMORGAN CHASE BANK, N.A.,
as Lender
      By:   /s/ John B Middelberg         Name:   John B Middelberg       
Title:   Senior Vice President     

 

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            Fifth Third Bank,
as Lender
      By:   /s/ John K. Perez         Name:   John K. Perez        Title:   Vice
President