Exhibit 10.6
TENTH AMENDMENT
     TENTH AMENDMENT (this “Amendment”), dated as of March 6, 2009, to the
Amended and Restated Credit Agreement dated as of June 3, 2005 (the “Credit
Agreement”), among Quiksilver, Inc., a Delaware corporation, Quiksilver
Americas, Inc., a California corporation, the several banks and other
institutions from time to time parties thereto (the “Lenders”), Bank of America,
N.A., as documentation agent, Union Bank of California, N.A., as syndication
agent, JPMorgan Chase Bank, N.A., as US administrative agent for the US Lenders
thereunder (in such capacity, the “US Administrative Agent”), JPMorgan Chase
Bank, N.A., London Branch, as an alternate currency fronting lender, J.P. Morgan
Europe Limited, as alternate currency fronting agent (in such capacity, the
“Alternate Currency Fronting Agent”), and JPMorgan Chase Bank, N.A., Toronto
Branch, as Canadian administrative agent for the Canadian Lenders (in such
capacity, the “Canadian Administrative Agent”).
WITNESSETH:
     WHEREAS, the Borrowers have requested that certain provisions of the Credit
Agreement be amended as set forth herein; and
     WHEREAS, the Lenders are willing to agree to such amendment on the terms
set forth herein;
     NOW THEREFORE, in consideration of the premises and mutual covenants
contained herein, the undersigned hereby agree as follows:
     I. Defined Terms. Terms defined in the Credit Agreement and used herein
shall have the meanings given to them in the Credit Agreement.
     (a) Amendment to Section 1.1. The definition of “Pilot SAS Facility” is
hereby amended and restated in its entirety as follows:
“Pilot SAS Facility”: that certain unsecured credit agreement dated as of
March 14, 2008 among Pilot SAS, Crédit Lyonnais SA, BNP Paribas SA and Société
Générale SA, as amended from time to time, with a maturity date of not later
than June 30, 2009; provided, that the aggregate principal amount of
Indebtedness permitted under such credit agreement shall in no event exceed the
US Dollar Equivalent of €55,000,000.
          Amendment to Section 6.2(o). Section 6.2(o) is hereby amended and
restated in its entirety to read as follows:
"(o) Guarantee Obligations of Quiksilver in connection with the Pilot SAS
Facility so long as (x) the aggregate principal amount of such Guarantee
Obligations does not exceed the US Dollar Equivalent of €55,000,000, (y) the
terms and conditions of the related Guarantee dated March 17, 2008 made by
Quiksilver in favor of BNP Paribas, as agent, as in effect on March 17, 2008 are
not amended or otherwise modified (it being understood that an acknowledgment of
such terms and conditions will not be deemed to be an amendment or

 

--------------------------------------------------------------------------------

 

modification thereof) and (z) copies of all amendments or other modifications to
the Pilot SAS Facility are delivered to the US Administrative Agent promptly
after the execution thereof.”
          Amendment to Section 6.7. Section 6.7 is hereby amended by
(i) deleting the word “and” at the end of clause (o) thereof, (ii) replacing the
period at the end of clause (p) thereof with “; and” and (iii) adding the
following new clause (q) at the end thereof:
"(q) investments consisting of the Guarantee Obligations permitted by Section
6.2(o)”.
     II. Effective Date. This Amendment shall become effective on the date (the
“Effective Date”) on which the Borrowers and the Majority Lenders shall have
duly executed and delivered to the US Administrative Agent this Amendment.
     III. Trademark License Agreement. The US Administrative Agent shall have
received on or before March 20, 2009, a duly authorized and fully executed copy
of a Trademark License Agreement, in form and substance satisfactory to the US
Administrative Agent, by and among QS Holdings SARL, Quiksilver International
Pty Ltd. (collectively, the “Licensors”) and Quiksilver, Inc., as licensee, with
respect to certain trademarks owned by the Licensors, including “Quiksilver” and
all related trademarks, trade names and trade designs.
     IV. Representations and Warranties. The Borrowers hereby represent and
warrant that (a) each of the representations and warranties in Article III of
the Credit Agreement shall be, after giving effect to this Amendment, true and
correct in all material respects as if made on and as of the Effective Date
(unless such representations and warranties are stated to relate to a specific
earlier date, in which case such representations and warranties shall be true
and correct in all material respects as of such earlier date) and (b) after
giving effect to this Amendment, no Default or Event of Default shall have
occurred and be continuing.
     V. No Other Amendments; Confirmation. Except as expressly amended hereby,
the provisions of the Credit Agreement, as amended and restated, are and shall
remain in full force and effect.
     VI. Governing Law. This Amendment and the rights and obligations of the
parties hereto shall be governed by, and construed and interpreted in accordance
with, the laws of the State of New York.
     VII. Counterparts. This Amendment may be executed by one or more of the
parties hereto on any number of separate counterparts, and all of said
counterparts taken together shall be deemed to constitute one and the same
instrument. This Amendment may be delivered by facsimile transmission of the
relevant signature pages hereof.
[signature pages follow]

2

--------------------------------------------------------------------------------

 

     IN WITNESS WHEREOF, the undersigned have caused this Amendment to be
executed and delivered by their duly authorized officers as of the date first
above written.

            QUIKSILVER, INC.
      By:                   Name:                   Title:           QUIKSILVER
AMERICAS, INC.
      By:                   Name:                   Title:        

Tenth Amendment Signature Page

 

--------------------------------------------------------------------------------

 

            JPMORGAN CHASE BANK, NA, as US
Administrative Agent and as a Lender
      By:                   Name:                   Title:        

Tenth Amendment Signature Page

 

--------------------------------------------------------------------------------

 

            BANK OF AMERICA, NA., as
Documentation Agent and as a Lender
      By:                   Name:                   Title:        

Tenth Amendment Signature Page

 

--------------------------------------------------------------------------------

 

            UNION BANK OF CALIFORNIA, NA., as
Syndication Agent and as a Lender
      By:                   Name:                   Title:        

Tenth Amendment Signature Page

 

--------------------------------------------------------------------------------

 

            NATIXIS (F/K/A NATEXIS BANQUES
POPULAIRES)
      By:                   Name:                   Title:                 By:  
                Name:                   Title:        

Tenth Amendment Signature Page

 

--------------------------------------------------------------------------------

 

            ALLIED IRISH BANK
      By:                   Name:                   Title:                 By:  
                Name:                   Title:        

Tenth Amendment Signature Page

 

--------------------------------------------------------------------------------

 

            GENERAL ELECTRIC CAPITAL CORP.
      By:                   Name:                   Title:        

Tenth Amendment Signature Page

 

--------------------------------------------------------------------------------

 

            HSBC BANK USA, NATIONAL
ASSOCIATION
      By:                   Name:                   Title:        

Tenth Amendment Signature Page

 

--------------------------------------------------------------------------------

 

            ISRAEL DISCOUNT BANK OF NEW
YORK
      By:                   Name:                   Title:                 By:  
                Name:                   Title:        

Tenth Amendment Signature Page

 

--------------------------------------------------------------------------------

 

            BNP PARIBAS
      By:                   Name:                   Title:                 By:  
                Name:                   Title:      

Tenth Amendment Signature Page

 

--------------------------------------------------------------------------------

 

            SUMITOMO MITSUI BANKING
CORPORATION
      By:                   Name:                   Title:        

Tenth Amendment Signature Page

 

--------------------------------------------------------------------------------

 

            SOCIÉTÉ GÉNÉRALE
      By:                   Name:                   Title:        

Tenth Amendment Signature Page

 

--------------------------------------------------------------------------------

 

     The US Guarantors hereby consent and agree to this Amendment as of the date
hereof and reaffirm their obligations under the US Security Agreement, the US
Guarantee and the other Loan Documents to which they are party.

            QS RETAIL, INC.
      By:                   Name:                   Title:           QS
WHOLESALE, INC.
      By:                   Name:                   Title:           DC SHOES,
INC.
      By:                   Name:                   Title:           HAWK
DESIGNS, INC.
      By:                   Name:                   Title:           MERVIN
MANUFACTURING, INC.
      By:                   Name:                   Title:           FIDRA, INC.
      By:                   Name:                   Title:           ROSSIGNOL
SKI COMPANY
INCORPORATED
      By:                   Name:                   Title:        

Tenth Amendment Signature Page

 

--------------------------------------------------------------------------------

 

            SKIS DYNASTAR, INC.
      By:                   Name:                   Title:        

Tenth Amendment Signature Page