EX-10.3



 Exhibit 10.3 
 THIRD AMENDMENT TO CREDIT AGREEMENT 
 THIS THIRD AMENDMENT TO CREDIT
AGREEMENT (this “Amendment”), dated as of August 2, 2013, is entered into by and among U.S. AUTO PARTS NETWORK, INC., a Delaware corporation (“Company”), PARTSBIN, INC., a Delaware corporation
(“PartsBin”), LOCAL BODY SHOPS, INC., a Delaware corporation (“Local Body Shops”), PRIVATE LABEL PARTS, INC., a Delaware corporation (“Private Label Parts”), WHITNEY AUTOMOTIVE GROUP, INC., a
Delaware corporation (“Whitney Auto”, and together with the Company, PartsBin, Local Body Shops and Private Label Parts, collectively, “Borrowers” and each individually a “Borrower”), the other Loan
Parties party hereto, the Lenders (as defined below) party hereto, and JPMORGAN CHASE BANK, N.A., as administrative agent for the Lenders (in such capacity, “Administrative Agent”). 

RECITALS 
  

	A.	Borrowers, the other parties signatory thereto as “Loan Parties” (each individually, a “Loan Party” and collectively, the “Loan
Parties”), Administrative Agent, and the financial institutions party thereto as lenders (each individually, a “Lender” and collectively, the “Lenders”) have previously entered into that certain Credit
Agreement, dated as of April 26, 2012 (as amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), pursuant to which the Lenders have made certain loans and financial accommodations
available to Borrowers. Terms used herein without definition shall have the meanings ascribed to them in the Credit Agreement. 

  

	B.	Borrowers and the other Loan Parties have requested that Administrative Agent and the Lenders amend the Credit Agreement, and Administrative Agent and the Lenders are
willing to amend the Credit Agreement pursuant to the terms and conditions set forth herein. 

  

	C.	Each Borrower and each other Loan Party is entering into this Amendment with the understanding and agreement that, except as specifically provided herein, none of
Administrative Agent’s or any Lender’s rights or remedies as set forth in the Credit Agreement and the other Loan Documents are being waived or modified by the terms of this Amendment. 


AGREEMENT 

NOW, THEREFORE, in consideration of the foregoing and the mutual covenants herein contained, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows: 
 1.
Amendments to Credit Agreement. 
  

	 	a.	The following definition is hereby added to Section 1.01 of the Credit Agreement in its proper alphabetical order: 


“ ‘Third Amendment Effective Date’ means August 2, 2013.” 

 

	 	b.	The last sentence of the definition of “Revolving Commitment” set forth in Section 1.01 of the Credit Agreement is hereby amended and restated to read in
its entirety as follows: 








 “The initial aggregate amount of the Lenders’ Revolving Commitments as of the
Third Amendment Effective Date is $20,000,000.” 
  

	 	c.	The first sentence of Section 2.09(e) of the Credit Agreement is hereby amended and restated to read in its entirety as follows: 


“Any amendment hereto for such an increase or addition shall be in form and substance satisfactory to the Administrative Agent and
shall only require the written signatures of the Administrative Agent, the Borrowers and each Lender being added or increasing its Commitment, subject only to the approval of all Lenders if any such increase would cause the Revolving Commitments to
exceed $40,000,000.” 
  

	 	d.	The Commitment Schedule attached to the Credit Agreement is hereby amended and restated in its entirety with the Commitment Schedule attached hereto identified as such.


 2. Conditions Precedent to Effectiveness of this Amendment. The following shall have occurred before
this Amendment is effective: 
  

	 	a.	Amendment. Administrative Agent shall have received this Amendment fully executed in a sufficient number of counterparts for distribution to all parties.


  

	 	b.	Representations and Warranties. The representations and warranties set forth herein, and in the Credit Agreement (other than any such representations or
warranties that, by their terms, are specifically made as of a date other than the date hereof), must be true and correct in all material respects without duplication of any materiality qualifier contained therein. 


3. Representations and Warranties. Each Borrower and each other Loan Party represents and warrants as follows: 

 

	 	a.	Authority. Each Borrower and each other Loan Party has the requisite corporate power and authority to execute and deliver this Amendment, and to perform its
obligations hereunder and under the Loan Documents (as amended or modified hereby) to which it is a party. The execution, delivery, and performance by each Borrower and each other Loan Party of this Amendment have been duly approved by all necessary
corporate action, have received all necessary governmental approval, if any, and do not contravene any law or any contractual restriction binding on such Borrower or such Loan Party. 


 

	 	b.	Enforceability. This Amendment has been duly executed and delivered by each Borrower and each other Loan Party. This Amendment and each Loan Document (as amended
or modified hereby) is the legal, valid, and binding obligation of each Borrower and each other Loan Party, enforceable against each Borrower and each other Loan Party in accordance with its terms, and is in full force and effect.


  

	 	c.	Representations and Warranties. The representations and warranties contained in the Credit Agreement (other than any such representations or warranties that, by
their terms, are specifically made as of a date other than the date hereof) are correct on and as of the date hereof in all material respects without duplication of any materiality qualifier contained therein as though made on and as of the date
hereof. 


  
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	 	d.	No Default. No event has occurred and is continuing that constitutes a Default or Event of Default. 


4. Choice of Law. The validity of this Amendment, its construction, interpretation and enforcement, the rights of the parties
hereunder, shall be determined under, governed by, and construed in accordance with the laws of the State of New York, but without giving effect to any federal laws applicable to national banks. 

5. Counterparts. This Amendment may be executed in any number of counterparts and by different parties and separate counterparts,
each of which when so executed and delivered, shall be deemed an original, and all of which, when taken together, shall constitute one and the same instrument. Delivery of an executed counterpart of a signature page to this Amendment by
telefacsimile shall be effective as delivery of a manually executed counterpart of the Amendment. 
 6. Reference to and
Effect on the Loan Documents. 
  

	 	a.	Upon and after the effectiveness of this Amendment, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof” or
words of like import referring to the Credit Agreement, and each reference in the other Loan Documents to “the Credit Agreement”, “thereof” or words of like import referring to the Credit Agreement, shall mean and be a reference
to the Credit Agreement as modified and amended hereby. 

  

	 	b.	Except as specifically set forth in this Amendment, the Credit Agreement and all other Loan Documents, are and shall continue to be in full force and effect and are
hereby in all respects ratified, and confirmed and shall constitute the legal, valid, binding, and enforceable obligations of each Borrower and the other Loan Parties to Administrative Agent and the Lenders without defense, offset, claim, or
contribution. 

  

	 	c.	The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power, or remedy of
Administrative Agent or any Lender under any of the Loan Documents, nor constitute a waiver of any provision of any of the Loan Documents. 

 7. Ratification. Each Borrower and each other Loan Party hereby restates, ratifies and reaffirms each and every term and condition set forth in the Credit Agreement, as amended hereby, and the Loan
Documents effective as of the date hereof. 
 8. Estoppel. To induce Administrative Agent and Lenders to enter into this
Amendment and to induce Administrative Agent and the Lenders to continue to make advances to Borrowers under the Credit Agreement, each Borrower and each other Loan Party hereby acknowledges and agrees that, after giving effect to this Amendment, as
of the date hereof, there exists no Default or Event of Default and no right of offset, defense, counterclaim, or objection in favor of any Borrower or any other Loan Party as against Administrative Agent or any Lender with respect to the
Obligations. 
 9. Integration. This Amendment, together with the other Loan Documents, incorporates all negotiations of
the parties hereto with respect to the subject matter hereof and is the final expression and agreement of the parties hereto with respect to the subject matter hereof. 
 10. Severability. In case any provision in this Amendment shall be invalid, illegal, or unenforceable, such provision shall be severable from the remainder of this Amendment and the validity,
legality , and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

  
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 11. Submission of Amendment. The submission of this Amendment to the parties or their
agents or attorneys for review or signature does not constitute a commitment by Administrative Agent or any Lender to waive any of their respective rights and remedies under the Loan Documents, and this Amendment shall have no binding force or
effect until all of the conditions to the effectiveness of this Amendment have been satisfied as set forth herein. 
 [REMAINDER
OF PAGE LEFT INTENTIONALLY BLANK] 

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

			
	BORROWERS:
	
	U.S. AUTO PARTS NETWORK, INC.,
	a Delaware corporation
		
	By	 	               /s/ Shane
Evangelist

		 	    Name: Shane Evangelist
		 	    Title: Chief Executive Officer
	
	PARTSBIN, INC.,
	a Delaware corporation
		
	By	 	               /s/ Shane
Evangelist

		 	    Name: Shane Evangelist
		 	    Title: President
	
	LOCAL BODY SHOPS, INC.,
	a Delaware corporation
		
	By	 	               /s/ David
Hernandez

		 	    Name: David Hernandez
		 	    Title: President
	
	PRIVATE LABEL PARTS, INC.,
	a Delaware corporation
		
	By	 	               /s/ Arthur
Simitian

		 	    Name: Arthur Simitian
		 	    Title: President
	
	WHITNEY AUTOMOTIVE GROUP, INC.,
	a Delaware corporation
		
	By	 	               /s/ Jim
Nelson

		 	    Name: Jim Nelson
		 	    Title: President



  
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	OTHER LOAN PARTIES:
	
	LOBO MARKETING, INC.,
	a Texas corporation
		
	By	 	               /s/ Brian
Hafer

		 	    Name: Brian Hafer
		 	    Title: President
	
	AUTOMD, INC.,
	a Delaware corporation
		
	By	 	               /s/ Yashar
Saberi

		 	    Name: Yashar Saberi
		 	    Title: Secretary
	
	PACIFIC 3PL, INC.,
	a Delaware corporation
		
	By	 	               /s/ Rick
Ellis

		 	    Name: Rick Ellis
		 	    Title: President
	
	GO FIDO, INC.,
	a Delaware corporation
		
	By	 	               /s/ Thomas M.
Mattey

		 	    Name: Thomas M. Mattey
		 	    Title: Secretary
	
	AUTOMOTIVE SPECIALTY ACCESSORIES AND PARTS, INC.,
	a Delaware corporation
		
	By	 	               /s/ David L.
Spangler

		 	    Name: David L. Spangler
		 	    Title: President



  
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	ADMINISTRATIVE AGENT AND LENDER
	
	JPMORGAN CHASE BANK, N.A.,
	individually as a Lender and as Administrative Agent
		
	By	 	             /s/ Jolinda N.
Walden

		 	    Name: Jolinda N. Walden
		 	    Title: Authorized Officer



  
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 COMMITMENT SCHEDULE 

 

									
	 Lender
	  	Revolving Commitment	 	  	Commitment	 
	 JPMorgan Chase Bank, N.A.
	  	$	20,000,000	  	  	$	20,000,000	  
		  				  			
		  				  			
		  				  			
		  				  			
		  				  			
		  				  			
		  				  			
		  				  			
		  	  
	  
	 	  	  
	  
	 
	 Total
	  	$	20,000,000	  	  	$	20,000,000	  
		  	  
	  
	 	  	  
	  
	 


  
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