Exhibit 10.1

 

Bank of America, N.A.,

as Administrative Agent

100 Federal Street, 9th Floor

Boston, Massachusetts  02110

 

June 14, 2019

 

At Home Holding III Inc.

At Home Stores LLC

1600 E. Plano Pkwy

Plano, TX 75074

Attention: Jeffrey R. Knudson

 

Re:  Increase in Aggregate Commitments

 

Ladies and Gentlemen:

 

Reference is hereby made to that certain Credit Agreement, dated as of
October 5, 2011 (as amended, restated, supplemented or otherwise modified and in
effect from time to time, the “Credit Agreement”) by and among At Home Holding
III Inc. (formerly known as GRD Holding III Corporation), a Delaware
corporation, At Home Stores LLC (as successor in interest to Garden Ridge L.P.),
a Delaware limited liability company (collectively, the “Borrowers” and each
individually, a “Borrower”), At Home Holding II Inc., a Delaware corporation
(“Holdings”), each Guarantor from time to time party thereto, each Lender from
time to time party thereto, Bank of America, N.A. (“Bank of America”), as
administrative agent for the Lenders (in such capacity, the “Administrative
Agent”), Swing Line Lender and L/C Issuer, and the other agents and arrangers
from time to time party thereto.  Capitalized terms used but not defined herein
shall have the respective meanings set forth in the Credit Agreement.

 

Pursuant to Section 2.14 of the Credit Agreement, the Borrowers have requested
that the Aggregate Commitments be increased by $75,000,000 (the “Commitment
Increase”) from and after June 14, 2019 (the “Commitment Increase Effective
Date”).

 

Bank of America, Wells Fargo Bank, National Association, U.S. Bank National
Association and BBVA USA (collectively, the “Incremental Commitment Lenders”),
each an existing Lender under the Credit Agreement, have agreed to increase
their respective Commitments by an incremental amount equal to (a) $32,142,857,
in the case of Bank of America, (b) $21,428,571, in the case of Wells Fargo
Bank, National Association, (c) $10,714,286, in the case of U.S. Bank National
Association and (d) $10,714,286, in the case of BBVA USA.

 

The Borrowers, each of the Guarantors, the Incremental Commitment Lenders and
the Administrative Agent hereby acknowledge and agree that as of the Commitment
Increase Effective Date (a) (i) Bank of America shall increase its Commitment by
an incremental amount equal to $32,142,857, such that Bank of America’s total
Commitment under the Credit Agreement is $132,142,857, (ii) Wells Fargo Bank,
National Association shall increase its Commitment by an incremental amount
equal to $21,428,571, such that Wells Fargo Bank,

 

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National Association’s total Commitment under the Credit Agreement is
$121,428,571, (iii) U.S. Bank National Association shall increase its Commitment
by an incremental amount equal to $10,714,286, such that U.S. Bank National
Association’s total Commitment under the Credit Agreement is $60,714,286 and
(iv) BBVA USA shall increase its Commitment by an incremental amount equal to
$10,714,286, such that BBVA USA’s total Commitment under the Credit Agreement is
$60,714,286, (b) as of the Commitment Increase Effective Date, Schedule 2.01
(Commitments and Pro Rata Shares) to the Credit Agreement shall be replaced by
Schedule 2.01 (Commitments and Pro Rata Shares) attached hereto as Exhibit A,
and (c) the Commitment Increase Effective Date shall be deemed to be a Revolving
Credit Increase Effective Date referred to in the Credit Agreement.

 

Pursuant to Section 2.14(d) of the Credit Agreement, by their signature below
the Borrowers hereby certify that (i) no Default has occurred and is continuing
or would result from the Commitment Increase, (ii) before and after giving
effect to the Commitment Increase, the representations and warranties contained
in Article 5 of the Credit Agreement and the representations and warranties in
the other Loan Documents are (and shall be) true and correct in all material
respects (and in all respects if any such representation or warranty is already
qualified by materiality) on and as of the Commitment Increase Effective Date,
except to the extent that such representations and warranties specifically refer
to an earlier date, in which case they are true and correct in all material
respects (and in all respects if any such representation or warranty is already
qualified by materiality) as of such earlier date and except that for purposes
of this subclause (ii), the representations and warranties contained in
Section 5.05(a) and (b) of the Credit Agreement shall be deemed to refer to the
most recent statements furnished pursuant to Section 6.01(a) and (b) of the
Credit Agreement, respectively, and (iii) after giving effect to the Commitment
Increase, the Borrowers are in Pro Forma Compliance with the financial covenant
set out in Section 7.11 of the Credit Agreement for the four (4) quarter period
to which the most recent Compliance Certificate received by the Administrative
Agent pursuant to Section 6.02(b) of the Credit Agreement relates.

 

The Administrative Agent shall have received a certificate of each Loan Party
dated the date hereof signed by a Responsible Officer of such Loan Party,
certifying and attaching the resolutions adopted by such Loan Party authorizing,
among other things, the Commitment Increase under the Credit Agreement and the
other Loan Documents.

 

This letter agreement may be executed in counterparts (and by different parties
hereto in different counterparts), each of which shall constitute an original,
but all of which when taken together shall constitute a single contract.  This
letter agreement shall become effective when (a) it shall have been executed by
the Administrative Agent and when the Administrative Agent shall have received
counterparts hereof that, when taken together, bear the signatures of each of
the other parties hereto and (b) the Borrowers shall have paid all fees required
to be paid pursuant to that certain fee letter agreement dated as of June 14,
2019 (the “Commitment Increase Fee Letter”), between the Borrowers and the
Administrative Agent. Delivery of an executed counterpart of a signature page of
this letter agreement by telecopy or other electronic imaging means shall be
effective as delivery of a manually executed counterpart of this letter
agreement.  This letter agreement shall constitute a Loan Document.

 

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This letter agreement and the rights and obligations of the parties hereunder
shall be governed by, and construed and interpreted in accordance with, the law
of the state of New York without giving effect to the conflicts of laws
principles thereof, but including Section 5-1401 of the New York general
obligations law and the provisions of Section 10.16 of the Credit Agreement are
herein incorporated by reference.

 

If the foregoing is in accordance with your understanding, please sign and
return this letter agreement to us.

 

[Remainder of Page Left Intentionally Blank]

 

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Very truly yours,

 

 

 

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

 

 

 

By:

/s/ Brian Lindblom

 

Name:

Brian Lindblom

 

Title:

Senior Vice President

 

[At Home — Increase to Aggregate Commitments]

 

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ACCEPTED AND AGREED TO

 

 

 

AS OF THE DATE FIRST ABOVE WRITTEN:

 

 

 

BANK OF AMERICA, N.A., as an Incremental Commitment Lender

 

 

 

By:

/s/ Brian Lindblom

 

Name:

Brian Lindblom

 

Title:

Senior Vice President

 

[At Home — Increase to Aggregate Commitments]

 

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ACCEPTED AND AGREED TO

 

 

 

AS OF THE DATE FIRST ABOVE WRITTEN:

 

 

 

WELLS FARGO BANK, NATIONAL ASSOCIATION, as an Incremental Commitment Lender

 

 

 

By:

/s/Brendan Hogan

 

Name:

Brendan Hogan

 

Title:

Assistant Vice President

 

[At Home — Increase to Aggregate Commitments]

 

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ACCEPTED AND AGREED TO

 

 

 

AS OF THE DATE FIRST ABOVE WRITTEN:

 

 

 

U.S. BANK NATIONAL ASSOCIATION, as an Incremental Commitment Lender

 

 

 

By:

/s/ John R. LePage

 

Name:

John R. LePage

 

Title:

Vice President

 

[At Home — Increase to Aggregate Commitments]

 

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ACCEPTED AND AGREED TO

 

 

 

AS OF THE DATE FIRST ABOVE WRITTEN:

 

 

 

BBVA USA, as an Incremental Commitment Lender

 

 

 

 

By:

/s/ Jason Nichols

 

Name:

Jason Nichols

 

Title:

Senior Vice President

 

[At Home — Increase to Aggregate Commitments]

 

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ACCEPTED AND AGREED TO

 

AS OF THE DATE FIRST ABOVE WRITTEN:

 

 

 

BORROWERS:

 

 

 

AT HOME HOLDING III INC.

 

 

 

 

By:

/s/ Lewis L. Bird III

 

Name:

Lewis L. Bird III

 

Title:

Chairman, Chief Executive Officer and President

 

 

 

AT HOME STORES LLC

 

 

 

 

By:

/s/ Lewis L. Bird III

 

Name:

Lewis L. Bird III

 

Title:

Chairman, Chief Executive Officer and President

 

[At Home — Increase to Aggregate Commitments]

 

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GUARANTORS:

 

 

 

AT HOME COMPANIES LLC

 

AT HOME HOLDING II INC.

 

AT HOME PROPERTIES LLC

 

1600 EAST PLANO PARKWAY LLC

 

2650 WEST INTERSTATE 20, LLC

 

11501 BLUEGRASS PARKWAY LLC

 

12990 WEST CENTER ROAD LLC

 

1944 SOUTH GREENFIELD ROAD LLC

 

4700 GREEN ROAD LLC

 

4304 WEST LOOP 289 LLC

 

642 SOUTH WALNUT AVENUE LLC

 

15065 CREOSOTE ROAD LLC

 

355 N. ACADEMY BOULEVARD (1031), LLC

 

1660 W. MIDWAY BOULEVARD (1031), LLC

 

3003 WEST VINE, LLC

 

7613 NORTH EAST LOOP 1604, LLC

 

334 CHICAGO DRIVE, LLC

 

4949 GREENWOOD DRIVE, LLC

 

2251 SOUTHWYCK BLVD, LLC

 

1605 BUFORD HWY, LLC

 

1267 CENTRAL PARK DR, LLC

 

4801 183A TOLL ROAD, LLC

 

19000 LIMESTONE COMMERCIAL DR, LLC

 

5501 GROVE BLVD, LLC

 

1600 W. KELLY AVENUE, LLC

 

1919 WELLS RD, LLC

 

7697 WINCHESTER RD, LLC

 

1000 TURTLE CREEK DRIVE LLC

 

2201 PORTER CREEK DR LLC

 

2000 E. SANTA FE LLC

 

301 S TOWN EAST MALL DR LLC

 

621 SW 19TH STREET LLC

 

4200 AMBASSADOR CAFFERY PKWY LLC

 

4405 PHEASANT RIDGE DR LLC

 

6360 RIDGEWOOD COURT DR LLC

 

AT HOME RMS INC.

 

AT HOME PROCUREMENT INC.

 

AT HOME GIFT CARD LLC

 

 

 

 

By:

/s/ Lewis L. Bird III

 

Name:

Lewis L. Bird III

 

Title:

Chairman, Chief Executive Officer and President

 

[At Home — Increase to Aggregate Commitments]

 

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1376 E. 70TH STREET LLC

 

25 PLACE BLVD LLC

 

2780 WIMA RUDOLPH BOULEVARD LLC

 

E. WILLIAMS FIELD RD LLC

 

3000 KIRBY DRIVE LLC

 

3551 S 27TH STREET LLC

 

4833 WATERVIEW MEADOW DR LLC

 

10800 ASSEMBLY PARK DR LLC

 

1050 W. ELLIOTT RD LLC

 

15255 N NORTHSIGHT BLVD LLC

 

1811 MONOCACY BLVD LLC

 

2016 GRAND CYPRESS DR LLC

 

2301 EARL RUDDER FRWY S LLC

 

24340 NORTHWEST FREEWAY LLC

 

2520 MACARTHUR RD LLC

 

300 TANGER OUTLET BLVD LLC

 

3002 FIREWHEEL PARKWAY LLC

 

3015 W 86TH ST LLC

 

361 NEWNAN CROSSING BYPASS LLC

 

4825 MARBURG AVENUE LLC

 

535 PLEASANT GROVE RD LLC

 

5540 STATE HIGHWAY 121 LLC

 

602 US HWY 287 LLC

 

7050 WATTS RD LLC

 

8651 AIRPORT FREEWAY LLC

 

9570 FIELDS ERTEL ROAD LLC

 

 

 

 

By:

/s/ Lewis L. Bird III

 

Name:

Lewis L. Bird III

 

Title:

Chairman, Chief Executive Officer and President

 

[At Home — Increase to Aggregate Commitments]

 

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EXHIBIT A

 

Updated Schedule 2.01 to the Credit Agreement

 

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Schedule 2.01 to

the Credit Agreement

 

COMMITMENTS AND PRO RATA SHARES

 

Lender Name

 

Commitment

 

Pro Rata Share of
Commitments

 

Bank of America, N.A.

 

$

132,142,857

 

31.092436941

%

Wells Fargo Bank, National Association

 

$

121,428,571

 

28.571428471

%

U.S. Bank National Association

 

$

60,714,286

 

14.285714353

%

Regions Bank

 

$

50,000,000

 

11.764705882

%

BBVA USA

 

$

60,714,286

 

14.285714353

%

Total

 

$

425,000,000

 

100.000000000

%

 

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