Third Amendment to the Second Amended and Restated Loan and Security Agreement



 EXHIBIT 10.01 
  

			
	 THIRD AMENDMENT TO
 SECOND AMENDED AND
RESTATED
 LOAN AND SECURITY AGREEMENT
	  	WELLS FARGO RETAIL FINANCE II, LLC

  
 May 15, 2009 
 THIS THIRD AMENDMENT TO SECOND AMENDED AND RESTATED LOAN
AND SECURITY AGREEMENT (this “Third Amendment”) is made in consideration of the mutual covenants contained herein and benefits to be derived herefrom to the Second Amended and Restated Loan and Security Agreement dated May 17,
2006 (as amended and in effect, the “Loan Agreement”) among dELiA*s, Inc., a Delaware corporation with its principal executive offices at 50 West 23rd Street, New York, New York 10010, for itself and as agent (in such capacity, the “Lead Borrower”) for the other Borrowers party thereto (individually, a “Borrower” and, collectively
with the Lead Borrower, the “Borrowers”), and the Borrowers, on the one hand, and Wells Fargo Retail Finance II, LLC, a Delaware limited liability company with offices at One Boston Place - 19th Floor, Boston, Massachusetts 02108
(the “Lender”), on the other hand. 
 Background: 
 The Borrowers and the Lender desire to amend and modify certain terms and provisions of the Loan Agreement. 
 NOW THEREFORE, in consideration of the mutual promises and agreements herein contained, the parties hereto hereby agree that subject to the satisfaction
of the conditions precedent set forth in Section 3 hereof, the Loan Agreement is hereby amended as follows: 
  

	1.	Incorporation of Terms and Conditions of Loan Agreement. All of the terms and conditions of the Loan Agreement (including, without limitation, all definitions set forth
therein) are specifically incorporated herein by reference. All capitalized terms not otherwise defined herein shall have the same meaning as in the Loan Agreement. 

  

	2.	Representations and Warranties. Each of the Borrowers hereby represents and warrants that (i) there is no Default or Event of Default under the Loan Agreement or under
any other Loan Document, and (ii) except with respect to those representations and warranties which relate solely to an earlier date, all representations and warranties contained in the Loan Agreement and the other Loan Documents are true and
correct as of the date hereof. 

  

	3.	Conditions Precedent. It shall be a condition to the effectiveness of this Third Amendment that the following shall be satisfied to the satisfaction of the Lender:


  

	 	a.	The Lender shall have received counterparts of this Third Amendment duly executed by each of the parties hereto; 

  

	 	b.	All action on the part of the Borrowers necessary for the valid execution, delivery and performance by the Borrowers of this Third Amendment and all other documentation,
instruments, and agreements to be executed in connection herewith shall have been duly and effectively taken and evidence thereof satisfactory to the Lender shall have been provided to the Lender; 









	 	c.	After giving effect to this Third Amendment, the representations and warranties in the Loan Agreement and the other Loan Documents shall be true and correct in all material respects
on and as of the date hereof as though made on such date (except to the extent that such representations and warranties relate solely to an earlier date); 

  


	 	d.	After giving effect to this Third Amendment, no Default or Event of Default shall have occurred and be continuing on the date hereof, nor shall result from the consummation of the
transaction contemplated herein; 

  

	 	e.	The Borrowers shall have paid all fees due to the Lender. The Borrowers shall have paid to the Lender all costs and expenses of the Lender, including, without limitation, reasonable
attorneys’ fees, in connection with the preparation, negotiation, execution and delivery of this Third Amendment. 

  

	 	f.	The Lender shall have received such other documents and instruments as reasonably requested by the Lender. 

  

	4.	Amendment to Article 1 of the Loan Agreement. The definition of “Maturity Date” contained in Article 1 of the Loan Agreement is hereby deleted in its entirety, and
the following is inserted in its place: 

 “Maturity Date”: June 2, 2009. 
  

	5.	No Further Modification. Except as expressly modified in the manner set forth above, the Loan Agreement and the other Loan Documents shall remain unmodified and in full force
and effect. 

  

	6.	No Claims; Waiver. Each of the Borrowers acknowledges, confirms and agrees that, as of the date hereof, such Borrower has no knowledge of any offsets, defenses, claims or
counterclaims against the Lender with respect to, under or relating to the Revolving Credit Loans, the Loan Documents, or the transactions contemplated therein, and, to the extent that such Borrower has or has ever had any such offsets, defenses,
claims or counterclaims arising on or before the date hereof, such Borrower hereby specifically WAIVES and RELEASES any and all rights to such offsets, defenses, claims or counterclaims. 

  

	7.	Binding Agreement. The terms and provisions hereof shall be binding upon and inure to the benefit of the parties hereto and their heirs, representatives, successors and
assigns. 

  

	8.	Multiple Counterparts. This Third Amendment may be executed in multiple counterparts, each of which shall constitute an original and together which shall constitute but one
and the same instrument. 

  

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	9.	Governing Law; Sealed Instrument. This Third Amendment shall be construed, governed, and enforced pursuant to the law of The Commonwealth of Massachusetts, and shall take
effect as a sealed instrument. 

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 IN WITNESS WHEREOF, this Third Amendment has been duly executed and delivered by each of the parties
hereto as of the date first above written. 
  

			
	 BORROWERS:

	
	 dELiA*s, INC.
 ALLOY MERCHANDISE,
LLC
 dELiA*s ASSETS CORP.
 SKATE DIRECT, LLC

 dELiA*s GROUP INC.
 dELiA*s OPERATING COMPANY

 dELiA*s RETAIL COMPANY

	DACCS, INC.
		
	By:	 	 /s/    David J. Dick

	Name:	 	David J. Dick
	Title:	 	Chief Financial Officer and Treasurer
	
	LENDER:
	
	WELLS FARGO RETAIL FINANCE II, LLC
		
	By:	 	 /s/    Michele L. Ayou

	Name:	 	 Michele L. Ayou

	Title:	 	 Vice President



  

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