Document:

Exhibit 10.21

EXECUTION VERSION

MD BEAUTY, INC.

FIRST AMENDMENT TO CREDIT AGREEMENT

This FIRST AMENDMENT TO CREDIT
AGREEMENT (this “Amendment”) is
dated as of July 21, 2005 and entered into by and among STB
BEAUTY, INC., a Delaware corporation (“Holdings”), MD BEAUTY, INC.,
a Delaware corporation (the “Company”), THE FINANCIAL INSTITUTIONS LISTED ON THE SIGNATURE PAGES HEREOF
(each individually referred to herein as a “Lender” and collectively as “Lenders”),
and BNP PARIBAS (“BNP Paribas”), as administrative agent for Lenders (in such
capacity, “Administrative
Agent”), and solely
for purposes of Section 3 hereof, the Credit Support Parties (as defined in
Section 3 hereof).  Reference is made to
that certain Credit Agreement dated as of February 18, 2005, by and among
Holdings, Company, the Lenders referenced therein and BNP Paribas, as
Administrative Agent (the “Credit Agreement”).
Capitalized terms used herein without definition shall have the same meanings
as set forth in the Credit Agreement.

RECITALS

WHEREAS, Company desires to amend the Credit
Agreement on, and subject to, the terms, conditions and agreements set forth
herein, to (i) permit the Company to make voluntary prepayments of the Holdings
Notes, (ii) provide the Company a credit in respect of prepayments of the
Holdings Notes against the prepayments and/or reductions required under
subsection 2.4B(iii)(e) of the Credit Agreement, (iii) postpone the date on
which Company has to comply with hedging requirements under subsection 6.10 of
the Credit Agreement, and (iv) make certain other amendments as set forth
below;

NOW, THEREFORE, in consideration of the premises and the agreements,
provisions and covenants herein contained, the parties hereto agree as follows:

Section 1.              AMENDMENTS TO THE CREDIT AGREEMENT

1.1          Amendment to Subsection 2.4:
Repayments and Prepayments; General Provisions Regarding Payments; Application
of Proceeds of Collateral and Payments Under Guaranties.

Subsection 2.4B(iii)(e)
of the Credit Agreement is hereby amended by deleting such subsection in its
entirety and substituting the following therefor:

“(e)         Prepayments and Reductions from
Consolidated Excess Cash Flow.  In
the event that there shall be Consolidated Excess Cash Flow for any Fiscal Year
(commencing with the Fiscal Year ending on January 1, 2006), Company shall, no
later than 120 days after the end of such Fiscal Year, prepay the Loans and/or
the Revolving Loan Commitment Amount shall be permanently reduced in an
aggregate amount equal to 75% (the “Consolidated Excess Cash
Flow Percentage”) of such Consolidated Excess Cash Flow; provided
that if the Applicable Consolidated Leverage Ratio as of the end of such Fiscal
Year is 2.00:1.00 or less, Consolidated Excess Cash Flow Percentage shall be
50%,

provided, further, that (A) Company shall
receive a credit against any prepayments and/or reductions required under this
subsection (e) for any voluntary prepayment or redemption of the Holdings Notes
made in accordance with this Agreement and (B) if the calculation of such
Consolidated Excess Cash Flow includes a deduction for voluntary prepayment of
the Term Loans (the “Prepaid Amount”),
then (i) Consolidated Excess Cash Flow shall be deemed increased by the Prepaid
Amount for the purposes of determining prepayments and/or reductions required
under this subsection (e), and (ii) Company shall receive a credit equal to the
amount of the Prepaid Amount against any prepayments and/or reductions required
under this subsection (e) with respect to the Fiscal Year in which such
voluntary prepayment was made (such credit may not be carried forward to
subsequent years).”.

1.2          Amendment to Subsection 6.10:  Interest Rate Protection.

Subsection 6.10 of the Credit Agreement is hereby
amended by deleting such subsection in its entirety and substituting the
following therefor:

“6.10        Interest
Rate Protection.

At all times after
December 31, 2005, Company shall maintain in effect for three years after the
Closing Date one or more Interest Rate Agreements in an aggregate notional
principal amount of not less than 40% of the aggregate principal amount of the
Term Loans and the Second Lien Term Loans outstanding, each such Interest Rate
Agreement to be in form and substance satisfactory to Administrative Agent;
provided that Company shall not be obligated to maintain in effect any such
Interest Rate Agreements at any time that the Applicable Consolidated Leverage
Ratio is less than or equal to 2.00:1:00. 
For purposes of clarification, while the above described Interest Rate
Agreements are required to be maintained during the above described periods,
each individual Interest Rate Agreement is not required to be of such duration.”.

1.3          Amendment to Subsection 7.5:
Restricted Junior Payments.

Subsection 7.5 of the Credit
Agreement is hereby amended by inserting the following at the end thereof:

“,
and (vii) so long as no Event of Default or Potential Event of Default
shall have occurred and be continuing or shall be caused thereby, at any time
on or before July 31, 2005, Holdings may prepay or redeem the Holdings Notes
and Company may make Restricted Junior Payments to Holdings for purposes of
making such prepayment or redemption not to exceed $16,250,000.”.

Section 2.              LIMITED WAIVERS

A.            Waiver of Restriction in Holdings
Subordination Agreement.  Requisite Lenders hereby waive
compliance with Section 3(a) of the Holdings Subordination Agreement to the
extent required to permit Holdings to prepay or redeem the Holdings Notes.

2

B.            Waiver of Restriction against
Amendment or Waiver of Second Lien Term Loan Agreement. 
Requisite Lenders hereby waive compliance with clause subsection 7.12B
of the Credit Agreement to the extent required to permit the amendment of the
Second Lien Term Loan Agreement referenced in Section 4C below.

C.            Limitation of Waiver. 
The waivers set forth herein shall be limited precisely as written and
relate solely to the prepayment of the Holdings Notes in the manner and to the
extent described above, and nothing in this Amendment shall be deemed to (i)
constitute a waiver of compliance by Company or Holdings with respect to any
other term, provision or condition of the Credit Agreement or any other
instrument or agreement referred to therein or (ii) prejudice any right or
remedy that Administrative Agent or any Lender may now have or may have in the
future under or in connection with the Credit Agreement or any other instrument
or agreement referred to therein.

Section 3.              ACKNOWLEDGEMENT AND CONSENT

Each of Company, Holdings and each Subsidiary
Guarantor (each individually a “Credit Support Party”
and collectively, the “Credit Support Parties”) has read this Amendment and
consents to the terms hereof and further hereby confirms and agrees that,
notwithstanding the effectiveness of this Amendment, the obligations of such
Credit Support Party under, and the Liens granted by such Credit Support Party
as collateral security for the indebtedness, obligations and liabilities
evidenced by the Credit Agreement and the other Loan Documents pursuant to,
each of the Loan Documents to
which such Credit Support Party is a party shall not be impaired and each of
the Loan Documents to which such
Credit Support Party is a party is, and shall continue to be, in full force and
effect and are hereby confirmed and ratified in all respects.

Each Subsidiary Guarantor acknowledges and agrees that
(i) notwithstanding the conditions to effectiveness set forth in this
Amendment, such Credit Support Party is not required by the terms of the Credit
Agreement or any other Loan Document to consent to the amendments to the Credit
Agreement effected pursuant to this Amendment and (ii) nothing in the
Credit Agreement, this Amendment or any other Loan Document shall be deemed to
require the consent of such Credit Support Party to any future amendments to
the Credit Agreement.

Section 4.              CONDITIONS TO EFFECTIVENESS

Section 1 of this Amendment shall become effective
only upon the satisfaction of all of the conditions precedent (the date of
satisfaction of all such conditions precedent being referred to herein as the “First Amendment Effective Date”) set forth
in this Section 4.

A.            Corporate Documents. 
On or before the First Amendment Effective Date, Company shall and shall
cause each other Credit Support Party to deliver to Lenders (or to
Administrative Agent for Lenders with sufficient originally executed copies,
where appropriate, for each Lender and its counsel), with respect to Company or
such other Credit Party, as the case may be, a Secretary’s Certificate, in form
and substance reasonably satisfactory to Administrative Agent and dated the
First Amendment Effective Date, certifying that (1) the

3

Organizational Documents
of Company, (2) the resolutions of the Board of Directors of Company and each
other Credit Support Party and (3) the signature and incumbency certificate of
Company and each other Credit Support Party, in each case, as delivered to
Administrative Agent on the Closing Date, are in full force and effect and have
not been amended or modified in any respect since the Closing Date.

B.            Fees. 
Administrative Agent shall have received all of Administrative Agent’s
reasonable costs and expenses as described in subsection 10.2 of the Credit
Agreement incurred by Administrative Agent (including, without limitation, the
reasonable fees and disbursements of O’Melveny & Myers LLP) in connection
with this Amendment and the documents and transactions related hereto, and any
fees separately agreed upon between Company and Administrative Agent.

C.            Amendment of Term Loan Agreement. 
Administrative Agent shall have received a First Amendment to Term Loan
Agreement executed by Holdings, Company, Requisite Lenders under the Term Loan
Agreement and BNP Paribas, as administrative agent, in form and substance
satisfactory to Administrative Agent, which amendment shall be in form
substantially similar to this Amendment.

Section 5.              REPRESENTATIONS AND WARRANTIES

In order to induce Lenders and Administrative Agent to
enter into this Amendment and to amend the Credit Agreement in the manner
provided herein, Company represents and warrants to Administrative Agent and
each Lender that the following statements are true, correct and complete:

A.            Authorization; Binding
Obligations.  Company has all requisite corporate power and
authority to enter into this Amendment. 
The execution, delivery and performance of this Amendment have been duly
authorized by all necessary corporate action by Company.  This Amendment has been duly executed and
delivered by Company and is the legally valid and binding obligation of
Company, enforceable against Company in accordance with its terms, except as
enforceability may be limited by bankruptcy, insolvency, reorganization,
moratorium or similar laws relating to or limiting creditors’ rights generally
and by equitable principles relating to enforceability.

B.            No Conflict. 
The execution and delivery by Company of this Amendment do not and will
not (i) violate any provision of any law or any governmental rule or
regulation applicable to Company, the Organizational Documents of Company or
any order, judgment or decree of any court or other Government Authority
binding on Company, (ii) conflict with, result in a breach of or
constitute (with due notice or lapse of time or both) a default under any
Contractual Obligation of Company, (iii) result in or require the creation
or imposition of any Lien upon any of the properties or assets of Company
(other than any Liens created under any of the Loan Documents in favor of
Administrative Agent on behalf of Lenders), and (iv) require any approval
of any holder of equity or any approval or consent of any Person under any
Contractual Obligation of Company, except for such approvals or consents which
will be obtained on or before the First Amendment Effective Date and disclosed
in writing to Lenders

4

and except to the extent
such violation, conflict, Lien or failure to obtain such approval or consent
could not reasonably be expected to result in a Material Adverse Effect.

C.            Governmental Consents. 
The execution and delivery by Company of this Amendment do not and will
not require any Governmental Authorization except as have been obtained.

D.            Incorporation of Representations. 
Each representation and warranty of Company contained in each of the
Loan Documents is true and correct in all material respects on and as of the
First Amendment Effective Date to the same extent as though made on and as of
the First Amendment Effective Date except to the extent such representations
and warranties relate to an earlier date, in which case they were true and
correct in all material respects as of such earlier date.

E.             Absence of Default. 
No event has occurred and is continuing or would result from the
execution, delivery or performance of this Amendment that constitutes or would
constitute an Event of Default or a Potential Event of Default after giving
effect to this Amendment.

Section 6.              MISCELLANEOUS

A.            Reference to and Effect on the
Credit Agreement and the Other Loan Documents.

(i)            On and after the First Amendment
Effective Date, each reference in the Credit Agreement to “this Agreement”, “hereunder”,
“hereof”, “herein” or words of like import referring to the Credit Agreement,
and each reference in the other Loan Documents to the “Credit Agreement”, “thereunder”,
“thereof” or words of like import referring to the Credit Agreement shall mean
and be a reference to the Credit Agreement, as amended by this Amendment.

(ii)           Except as specifically amended by
this Amendment, the Credit Agreement and the other Loan Documents shall remain
in full force and effect and are hereby ratified and confirmed.

(iii)          The execution, delivery and
performance of this Amendment shall not, except as expressly provided herein,
constitute a waiver of any provision of, or operate as a waiver of any right,
power or remedy of Administrative Agent, or any Lender under, the Credit
Agreement or any of the other Loan Documents.

(iv)          Headings.  Section and subsection headings in this
Amendment are included herein for convenience of reference only and shall not
constitute a part of this Amendment for any other purpose or be given any
substantive effect.

(v)           Applicable
Law.  THIS
AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE
GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE
INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING

5

WITHOUT
LIMITATION SECTION 5-1401 AND SECTION 5-1402 OF THE GENERAL OBLIGATIONS LAW OF
THE STATE OF NEW YORK), WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES.

(vi)          Counterparts.  This Amendment may be executed in any
number of counterparts and by different parties hereto in separate
counterparts, each of which when so executed and delivered shall be deemed an
original, but all such counterparts together shall constitute but one and the
same instrument; signature pages may be detached from multiple separate
counterparts and attached to a single counterpart so that all signature pages
are physically attached to the same document.

[Remainder
of page intentionally left blank]

6

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

	
  COMPANY:

  	
   

  	
   

  
	
   

  	
  MD
  BEAUTY, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Leslie A. Blodgett

  
	
   

  	
  Name:

  	
  Leslie A. Blodgett

  
	
   

  	
  Title:

  	
  President, Chief Executive
  Officer and Secretary

  
	
   

  	
   

  	
   

  
	
  HOLDINGS:

  	
   

  	
   

  
	
   

  	
  STB
  BEAUTY, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Leslie A. Blodgett

  
	
   

  	
  Name:

  	
  Leslie A. Blodgett

  
	
   

  	
  Title:

  	
  President and Chief
  Executive Officer

  
	
   

  	
   

  	
   

  

 

S-1

 

	
  CREDIT SUPPORT PARTIES:

  (for purposes of Section 3)

  	
   

  	
   

  
	
   

  	
  STB
  BEAUTY, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Leslie A. Blodgett

  
	
   

  	
  Name:

  	
  Leslie A. Blodgett

  
	
   

  	
  Title:

  	
  President and Chief
  Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  BARE
  ESCENTUALS, INC.

  BIOCEUTIX INC.

  ID DIRECT, INC.

  MD BEAUTY SALES, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Leslie A. Blodgett

  
	
   

  	
  Name:

  	
  Leslie A. Blodgett

  
	
   

  	
  Title:

  	
  President, Chief Executive
  Officer and Secretary

  
	
   

  	
   

  	
   

  

 

S-2

 

	
  LENDERS:

  	
   

  	
   

  
	
   

  	
  BNP
  PARIBAS,

  individually and as Administrative Agent

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Cecile Sherer

  
	
   

  	
  Name:

  	
  Cecile Sherer

  
	
   

  	
  Title:

  	
  Director, Merchant Banking
  Group

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Amy Kirschner

  
	
   

  	
  Name:

  	
  Amy Kirschner

  
	
   

  	
  Title:

  	
  Director

  
	
   

  	
   

  	
   

  

 

S-3

	
   

  	
   

  	
   

  
	
   

  	
  NAVIGATOR
  CDO 2003, LTD

  By: Antares Asset Management, Inc., as
  Collateral Manager

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Steven J. Robinson

  
	
   

  	
  Name:

  	
  Steven J. Robinson

  
	
   

  	
  Title:

  	
  Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  NAVIGATOR
  CDO 2004 LTD

  By: Antares Asset Management, Inc., as Agent

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Steven J. Robinson

  
	
   

  	
  Name:

  	
  Steven J. Robinson

  
	
   

  	
  Title:

  	
  Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  CITIGROUP
  FINANCIAL PRODUCTS INC.

  By: Antares Asset Management, Inc., as Agent

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Steven J. Robinson

  
	
   

  	
  Name:

  	
  Steven J. Robinson

  
	
   

  	
  Title:

  	
  Vice President

  

 

S-4

 

	
   

  	
   

  	
   

  
	
   

  	
  The
  Lincoln National Life Insurance Company

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Delaware
  Investment Advisers, a series of Delaware Management Business, Trust,
  Attorney-in-Fact

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Thomas H. Chow

  
	
   

  	
  Name:

  	
  Thomas H. Chow

  
	
   

  	
  Title:

  	
  Vice President

  

 

S-5

	
   

  	
   

  	
   

  
	
   

  	
  Denali
  Capital LLC, managing member of DC Funding Partners, portfolio manager for
  DENALI CAPITAL CLO 1, LTD., or an affiliate

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ John P. Thacker

  
	
   

  	
  Name:

  	
  John P. Thacker

  
	
   

  	
  Title:

  	
  Chief Credit Officer

  

 

S-6

Denali Capital LLC, managing member of DC Funding Partners, portfolio
manager for DENALI CAPITAL CLO II, LTD., or an affiliate

 

 

By:          /s/ John P. Thacker      

Name:     John P. Thacker

Title:       Chief Credit Officer

 

 

S-7

Denali Capital LLC, managing member of DC Funding Partners, portfolio
manager for DENALI CAPITAL CLO III, LTD., or an affiliate

 

 

By:          /s/ John P. Thacker      

Name:     John P. Thacker

Title:       Chief Credit Officer

 

 

S-8

Denali Capital LLC, managing member of DC Funding Partners, portfolio
manager for DENALI CAPITAL CLO IV, LTD., or an affiliate

 

 

By:          /s/ John P. Thacker      

Name:     John P. Thacker

Title:       Chief Credit Officer

 

 

S-9

GSC PARTNERS CDO FUND IV, LIMITED

By: GSCP (NJ) L.P., as Collateral Manager

 

 

By:          /s/ Harvey E. Siegel      

Name:     Harvey E. Siegel

Title:       Authorized Signatory

 

 

S-10

GSC PARTNERS CDO FUND V, LIMITED

 

By: GSCP (NJ) L.P., as Collateral Manager

 

 

By:          /s/ Harvey E. Siegel      

Name:     Harvey E. Siegel

Title:       Authorized Signatory

 

 

S-11

GSC PARTNERS GEMINI FUND, LIMITED

 

By: GSCP (NJ) L.P., as Collateral Monitor

By: GSCP (NJ), INC., its General Partner

 

 

By:          /s/ Harvey E. Siegel      

Name:     Harvey E. Siegel

Title:       Authorized Signatory

 

 

S-12

CIT LENDING SERVICES CORPORATION

 

 

By:          /s/ John P. Sirico, II      

Name:     John P. Sirico, II

Title:       Vice President

 

 

S-13

Whitney Private Debt Fund, L.P.

 

 

By:          /s/ Kevin J. Curley      

Name:     Kevin J. Curley

Title:       Authorized Signatory

 

 

S-14

WhiteHorse II, Ltd.

By:             WhiteHorse Capital
Partners,                                                L.P.  As
Collateral Manager

 

 

By:          /s/ Ethan Underwood      

Name:     Ethan Underwood

Title:       PM

 

 

S-15

CREDIT SUISSE FIRST BOSTON INTERNATIONAL

 

 

By:          /s/ Irina Borisova      

Name:     Irina Borisova

Title:       Assistant Vice
President

 

By:          /s/ Lincoln Burkitt      

Name:     Lincoln Burkitt

Title:       Vice President, OTC
Derivative Support

 

 

S-16

Atrium II

 

 

By:          /s/ Andrew H. Marshak      

Name:     Andrew H. Marshak

Title:       Authorized Signatory

 

 

S-17

Atrium IV

 

 

By:          /s/ Andrew H. Marshak      

Name:     Andrew H. Marshak

Title:       Authorized Signatory

 

 

S-18

	
   

  	
   

  	
  Madison Park Funding I, Ltd.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Andrew H. Marshak

  
	
   

  	
   

  	
  Name:

  	
  Andrew H. Marshak

  
	
   

  	
   

  	
  Title:

  	
  Authorized Signatory

  
	
   

  	
   

  	
   

  	
   

  

 

S-19

 

	
   

  	
   

  	
  The
  Governor and Company of the Bank of Ireland

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Niamh Murphy

  
	
   

  	
   

  	
  Name:

  	
  Niamh Murphy

  
	
   

  	
   

  	
  Title:

  	
  Authorized Signatory

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Olivia Barriere

  
	
   

  	
   

  	
  Name:

  	
  Olivia Barriere

  
	
   

  	
   

  	
  Title:

  	
  Authorized Signatory

  
	
   

  	
   

  	
   

  	
   

  

 

S-20

 

	
   

  	
   

  	
  AIB
  Debt Management Ltd

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Margaret Brennan

  
	
   

  	
   

  	
  Name:

  	
  Margaret Brennan

  
	
   

  	
   

  	
  Title:

  	
  Vice President, Investment
  Advisor to AIB Debt Management, Limited

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Joseph Augustini

  
	
   

  	
   

  	
  Name:

  	
  Joseph Augustini

  
	
   

  	
   

  	
  Title:

  	
  Vice President, Investment
  Advisor to AIB Debt Management, Limited

  
	
   

  	
   

  	
   

  	
   

  

 

S-21

 

	
   

  	
   

  	
  LightPoint
  CLO III, Ltd.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Timothy S. Van Kirk

  
	
   

  	
   

  	
  Name:

  	
  Timothy S. Van Kirk

  
	
   

  	
   

  	
  Title:

  	
  Managing Director

  
	
   

  	
   

  	
   

  	
   

  

 

S-22

 

	
   

  	
   

  	
  CIBC
  Inc.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Gerald Girardi

  
	
   

  	
   

  	
  Name:

  	
  Gerald Girardi

  
	
   

  	
   

  	
  Title:

  	
  Executive Director, CIBC
  World Markets Corp., as Agent

  
	
   

  	
   

  	
   

  	
   

  

 

S-23

 

	
   

  	
   

  	
  CYPRESSTREE
  CLAIF FUNDING LLC

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ M. Cristina Higgins

  
	
   

  	
   

  	
  Name:

  	
  M. Cristina Higgins

  
	
   

  	
   

  	
  Title:

  	
  Assistant Vice President

  
	
   

  	
   

  	
   

  	
   

  

 

S-24

 

	
   

  	
   

  	
  HUDSON
  STRAITS CLO 2004, LTD.

  
	
   

  	
   

  	
  By
  Royal Bank Canada as Collateral Manager

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Melissa Marano

  
	
   

  	
   

  	
  Name:

  	
  Melissa Marano

  
	
   

  	
   

  	
  Title:

  	
  Authorized Signatory

  
	
   

  	
   

  	
   

  	
   

  

 

S-25

 

	
   

  	
   

  	
  CLT,
  L.P.

  	
   

  
	
   

  	
   

  	
  By
  Royal Bank Canada as Collateral Manager

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Melissa Marano

  
	
   

  	
   

  	
  Name:

  	
  Melissa Marano

  
	
   

  	
   

  	
  Title:

  	
  Authorized Signatory

  
					

 

S-26

 

	
   

  	
   

  	
  INVESTORS
  BANK & TRUST COMPANY AS SUB-CUSTODIAN AGENT OF CYPRESSTREE INTERNATIONAL LOAN HOLDING COMPANY LIMITED

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ John Frabotta

  
	
   

  	
   

  	
  Name:

  	
  John Frabotta

  
	
   

  	
   

  	
  Title:

  	
  Chief Investment Officer

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ Martha Hadeler

  
	
   

  	
   

  	
  Name:

  	
  Martha Hadeler

  
	
   

  	
   

  	
  Title:

  	
  Managing Director

  
	
   

  	
   

  	
   

  	
   

  

 

S-27

 

	
   

  	
   

  	
  HEWETT’S
  ISLAND CLO II, LTD.

  
	
   

  	
   

  	
  By: CypressTree
  Investment Management Company, Inc., as Portfolio Manager

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ John Frabotta

  
	
   

  	
   

  	
  Name:

  	
  John Frabotta

  
	
   

  	
   

  	
  Title:

  	
  Chief Investment Officer

  
	
   

  	
   

  	
   

  	
   

  

 

S-28Exhibit 10.22

MD
BEAUTY, INC.

SECOND
AMENDMENT TO CREDIT AGREEMENT

This SECOND AMENDMENT TO CREDIT AGREEMENT (this “Amendment”) is dated as of October 7, 2005 and entered into
by and among STB  BEAUTY, INC.,
a Delaware corporation (“Holdings”), MD BEAUTY, INC., a Delaware corporation (the “Company”), THE FINANCIAL INSTITUTIONS
LISTED ON THE SIGNATURE PAGES HEREOF (each individually referred to
herein as a “Lender” and
collectively as “Lenders”),
and BNP PARIBAS (“BNP Paribas”), as administrative agent for Lenders (in such
capacity, “Administrative
Agent”), and solely
for purposes of Section 3 hereof, the Credit Support Parties (as defined
in Section 3 hereof).  Reference
is made to that certain Credit Agreement dated as of February 18, 2005, as
amended by the First Amendment to Credit Agreement dated as of July 21, 2005,
by and among Holdings, Company, the Lenders referenced therein and BNP Paribas,
as Administrative Agent (the “Credit Agreement”).
Capitalized terms used herein without definition shall have the same meanings
as set forth in the Credit Agreement, as amended hereby.

RECITALS

WHEREAS, Company and Lenders desire to amend the
Credit Agreement to (i) enable Company to incur additional Term Loans in
an aggregate principal amount of up to $96,000,000, the proceeds of which will
be used to make a dividend to the shareholders of Holdings, (ii) permit Company
to incur additional Second Lien Term Loans in the aggregate principal amount of
up to $91,500,000, the proceeds of which will be used to make a dividend to the
shareholders of Holdings, (iii) postpone the date on which Company has to
comply with hedging requirements under subsection 6.10 of the Credit Agreement,
and (iv) make certain other amendments as set forth below.

NOW, THEREFORE, in consideration of the premises and the
agreements, provisions and covenants herein contained, the parties hereto agree
as follows:

SECTION 1.                                                    AMENDMENTS TO CREDIT AGREEMENT

1.1          Amendments to Section 1.1:  Certain Defined Terms.

A.            Subsection 1.1 of the Credit Agreement is
hereby amended by adding thereto the following definitions, which shall be
inserted in proper alphabetical order:

“Additional Term Loan Commitment” means the commitment of a
Lender to make or maintain Additional Term Loans pursuant to the second sentence
of subsection 2.1A(i) and “Additional Term Loan
Commitments” means such commitments of all Lenders in the aggregate.

“Additional Term Loans” means the Term Loans made by certain
Lenders to Company on or about the Second Amendment Effective Date pursuant to
the second sentence of subsection 2.1A(i).

 

“Original Term Loan Commitment” means a Term Loan Commitment
existing on the Closing Date.

“Second Amendment” means that certain Second Amendment to
this Agreement, dated as of October 7, 2005.

“Second Amendment Effective Date” means the date the
conditions to funding the Additional Term Loans are satisfied in accordance
with the Second Amendment to this Agreement.

“Second Lien Second Amendment” means the Second Amendment to
Term Loan Agreement dated as of October 7, 2005 by and among Holdings, Company,
the financial institutions party thereto, and BNP Paribas, as administrative
agent for Lenders.

“Special Dividend Payment” means the application by the
Company of the proceeds of the Additional Term Loans and the additional Second
Lien Term Loans contemplated by the Second Lien Second Amendment on or about
the Second Amendment Effective Date towards a dividend by the Company to
Holdings in an aggregate amount not to exceed $187,500,000, which Holdings in
turn shall dividend to its shareholders.

B.            Subsection 1.1 of the Credit Agreement is
hereby further amended by deleting the definition of the term set forth in
quotation marks below and substituting therefor the following definition:

“Consolidated Cash Interest Expense”
means, for any period, Consolidated Interest Expense for such period excluding,
however, any interest expense not payable in Cash.

“Consolidated EBITDA” means, for any period, the sum, without
duplication, of the amounts for such period of (i) Consolidated Net Income,
(ii) Consolidated Interest Expense, (iii) taxes paid or provisions for taxes
based on income, (iv) total depreciation expense, (v) total amortization
expense, (vi) other non-cash items (including, without limitation, non-cash
effect of any purchase accounting, write-down of intangibles and marking hedges
to market), (vii) non-cash employee compensation expenses, (viii) the CEO
Payment Amount, (ix) Management Fees during such period, (x) any charges
associated with the one-time write offs related to the Emeryville Lease and the
Corporate Office Lease, provided that the aggregate amount of such charges
included in this clause (x) shall not exceed $2,000,000, (xi) Transaction Costs
and any other non-recurring or extraordinary Cash costs incurred in such
period, provided that the aggregate amount of such other non-recurring or
extraordinary Cash costs included in this clause (xi) shall not exceed
$3,000,000 in any one Fiscal Year or $6,000,000 in the aggregate from and after
the Closing Date, but only, in the case of clauses (ii)-(xi), to the extent
deducted in the calculation of Consolidated Net Income, less other non-cash
items added in the calculation of Consolidated Net Income (other than any such
non-cash item to the extent it will result in the receipt of cash payments in
any future period), all of the foregoing as determined on a consolidated basis
for Company and its Subsidiaries in conformity with GAAP.  Notwithstanding anything contained herein to
the contrary, the creation and 

 

2

reversal of
reserves in the ordinary course of business shall not constitute non-cash items
for purposes of calculating Consolidated EBITDA.

“Second Lien Term Loan Agreement” means the Term Loan
Agreement dated as of February 18, 2005, by and among Holdings, Company, the
financial institutions party thereto and BNP Paribas, as administrative agent,
as amended by the First Amendment to Term Loan Agreement dated as of July 21,
2005, the Second Lien Second Amendment, and any replacement agreement or
facility existing at any time and permitted pursuant to the terms hereof; provided
that the lenders party to such replacement agreement or facility expressly
agree to be bound by the Intercreditor Agreement or enter into an intercreditor
agreement in form and substance satisfactory to Administrative Agent and the
Requisite Lenders.

1.2          Amendment to Subsection 2.1A: Commitments. 

Subsection 2.1A(i)
of the Credit Agreement is hereby amended by deleting such subsection in its
entirety and substituting the following therefor:

“(i)  Term Loans.  Each Lender that has an Original Term Loan
Commitment severally agrees to lend to Company on the Closing Date an amount
not exceeding its Original Term Loan Commitment to be used for the purposes
identified in subsection 2.5A.  Each
Lender that has an Additional Term Loan Commitment severally agrees to lend to
Company on or about the Second Amendment Effective Date an amount not exceeding
its Additional Term Loan Commitment to be used for the purposes identified in
subsection 2.5A.  The amount of each
Lender’s Term Loan Commitment shall be set forth in the Register and the
aggregate amount of the Term Loan Commitments is $251,000,000 (consisting of
Original Term Loan Commitments in the aggregate amount of $155,000,000, plus
Additional Term Loan Commitments in the aggregate amount of $96,000,000); provided
that the Term Loan Commitments of each Lender shall be adjusted to give effect
to any assignments of such Term Loan Commitments pursuant to subsection
10.1B.  Company may make only one
borrowing under the Original Term Loan Commitments on the Closing Date, and
only one borrowing under the Additional Term Loan Commitments on or about the
Second Amendment Effective Date.  Amounts
borrowed under this subsection 2.1A(i) and subsequently repaid or prepaid may
not be reborrowed.”.

1.3          Amendment to Subsection 2.2A: Rate of
Interest.

Subsection 2.2A(i) of the Credit
Agreement is hereby amended by deleting the table contained therein in its
entirety and substituting the following therefor:

	
  Consolidated Leverage Ratio

  	
   

  	
  LIBOR Margin

  	
   

  	
  Base Rate Margin

  	
   

  
	
  Greater than or equal to
  3.50:1.00

  	
   

  	
  3.00

  	
  %

  	
  2.00

  	
  %

  
	
  Greater than or equal to
  2.75:1:00 but less than 3.50:1.00

  	
   

  	
  2.75

  	
  %

  	
  1.75

  	
  %

  
	
  Less than 2.75:1.00

  	
   

  	
  2.50

  	
  %

  	
  1.50

  	
  %

  

 

3

1.4                               Amendment to Subsection 2.4A: Scheduled
Payments of Term Loans.

Subsection 2.4A of
the Credit Agreement is hereby amended by deleting the table contained therein
in its entirety and substituting the following therefor:

	
  Date

  	
   

  	
  Scheduled Repayment

  	
   

  
	
  June 30, 2005

  	
   

  	
  $2,000,000

  	
   

  
	
  September 30, 2005

  	
   

  	
  $2,000,000

  	
   

  
	
  December 31, 2005

  	
   

  	
  $3,166,667

  	
   

  
	
  March 31, 2006

  	
   

  	
  $3,166,667

  	
   

  
	
  June 30, 2006

  	
   

  	
  $3,166,667

  	
   

  
	
  September 30, 2006

  	
   

  	
  $3,166,667

  	
   

  
	
  December 31, 2006

  	
   

  	
  $3,166,667

  	
   

  
	
  March 31, 2007

  	
   

  	
  $3,166,667

  	
   

  
	
  June 30, 2007

  	
   

  	
  $3,166,667

  	
   

  
	
  September 30, 2007

  	
   

  	
  $3,166,667

  	
   

  
	
  December 31, 2007

  	
   

  	
  $3,166,667

  	
   

  
	
  March 31, 2008

  	
   

  	
  $3,166,667

  	
   

  
	
  June 30, 2008

  	
   

  	
  $3,166,667

  	
   

  
	
  September 30, 2008

  	
   

  	
  $3,166,667

  	
   

  
	
  December 31, 2008

  	
   

  	
  $3,166,667

  	
   

  
	
  March 31, 2009

  	
   

  	
  $3,166,667

  	
   

  
	
  June 30, 2009

  	
   

  	
  $3,166,667

  	
   

  
	
  September 30, 2009

  	
   

  	
  $3,166,667

  	
   

  
	
  December 31, 2009

  	
   

  	
  $3,166,667

  	
   

  
	
  March 31, 2010

  	
   

  	
  $3,166,667

  	
   

  
	
  June 30, 2010

  	
   

  	
  $3,166,667

  	
   

  
	
  September 30, 2010

  	
   

  	
  $3,166,667

  	
   

  
	
  December 31, 2010

  	
   

  	
  $3,166,667

  	
   

  
	
  March 31, 2011

  	
   

  	
  $3,166,667

  	
   

  
	
  June 30, 2011

  	
   

  	
  $44,333,333

  	
   

  
	
  September 30, 2011

  	
   

  	
  $44,333,333

  	
   

  
	
  December 31, 2011

  	
   

  	
  $44,333,333

  	
   

  
	
  Stated Maturity Date

  	
   

  	
  $44,333,327

  	
   

  
	
  TOTAL:

  	
   

  	
  $251,000,000

  	
   

  

 

4

 

1.5                               Amendment to Subsection 2.5: Use of
Proceeds. 

Subsection 2.5A of
the Credit Agreement is hereby amended by inserting the following at the end
thereof:

“The proceeds of the Additional Term Loans, together with $91,500,000
in proceeds of the additional Second Lien Term Loans funded pursuant to the
Second Lien Second Amendment, shall be applied by Company (i) to make the
Special Dividend Payment and (ii) to pay for fees and expenses incurred in
connection with the Second Amendment and the Second Lien Second Amendment.”.

1.6                               Amendment to Subsection 6.10: Interest
Rate Protection.

Subsection 6.10 of
the Credit Agreement is hereby amended by deleting such subsection in its
entirety and substituting the following therefor:

“6.10        Interest Rate Protection.

At all times after March 31, 2006, Company shall maintain in effect for
three years after the Closing Date one or more Interest Rate Agreements in an
aggregate notional principal amount of not less than 40% of the aggregate
principal amount of the Term Loans and the Second Lien Term Loans outstanding,
each such Interest Rate Agreement to be in form and substance satisfactory to
Administrative Agent; provided that Company shall not be obligated to maintain
in effect any such Interest Rate Agreements at any time that the Applicable
Consolidated Leverage Ratio is less than or equal to 2.00:1:00.  For purposes of clarification, while the
above described Interest Rate Agreements are required to be maintained during
the above described periods, each individual Interest Rate Agreement is not
required to be of such duration.”.

1.7                               Amendment to Subsection 7.1: Indebtedness.

A.            Subsection 7.1(vi) of the Credit
Agreement is hereby amended by deleting such subsection in its entirety and
substituting the following therefor:

“(vi)  Company and its
Subsidiaries may become liable with respect to the Second Lien Term Loans made
pursuant to the Second Lien Term Loan Agreement in an aggregate principal
amount not to exceed $146,000,000;”.

B.            Subsection 7.1(viii) of the Credit
Agreement is hereby amended by deleting such subsection in its entirety and
substituting the following therefor:

 

5

“(viii)      Foreign Subsidiaries
of Company may become and remain liable with respect to additional Indebtedness
to finance working capital and otherwise in an aggregate principal amount not
to exceed $10,000,000 at any time outstanding;”

1.8                               Amendment to Subsection 7.3:  Investments; Acquisitions.

Subsection
7.3(xii) of the Credit Agreement is hereby amended by deleting such subsection
in its entirety and substituting the following therefor:

“(xii)        Company and the
Subsidiary Guarantors may make and own Investments in Foreign Subsidiaries,
provided that the amount of all such Investments made from and after the
Closing Date minus the amount of all cash dividends, distributions and other
payments received by Company or any of the Subsidiary Guarantors in respect of
such Investments after the Closing Date shall not at any time exceed
$10,000,000;”

1.9                               Amendment to Subsection 7.5:  Restricted Junior Payments.

A.            Subsection 7.5 of the Credit Agreement is
hereby amended by deleting clause (v) in its entirety and substituting the
following therefor:

“(v) so long as no Event of Default or Potential Event of Default shall
have occurred and be continuing or shall be caused thereby, Company may make
Restricted Junior Payments to Holdings to the extent necessary to permit
Holdings to repurchase Holdings Capital Stock (or any options rights to acquire
such Capital Stock) from any former or current employee of Holdings or its
Subsidiaries so long as the aggregate amount of all such repurchases shall not
exceed $5,000,000 in any Fiscal Year and shall not exceed $10,000,000 in the
aggregate, and Holdings may repurchase such Capital Stock using the proceeds of
such Restricted Junior Payments by Company or, if such Restricted Payments are
not made by Company in sufficient amounts to effect such repurchase, Holdings
may issue promissory notes in exchange for such Capital Stock and may
subsequently redeem such promissory notes,”.

B.            Subsection 7.5 of the Credit Agreement is
hereby further amended by adding the following at the end thereof:

“, and (viii) Company may, on the Second Amendment Effective Date or
within three (3) Business Days thereafter, make a dividend to Holdings in the
amount of the Special Dividend Payment, and Holdings may make a dividend in the
amount of the Special Dividend Payment to its shareholders (it being understood
that Restricted Junior Payments permitted under this subsection 7.5 are not in
any way restricted by the provisions of subsection 7.7 or subsection 7.9).”.

1.10                        Amendments to Subsection 7.6: Financial
Covenants.

A.            Subsection 7.6A of the Credit Agreement
is hereby amended by deleting such subsection in its entirety and substituting
the following therefor:

 

6

“A.          Minimum
Cash Interest Coverage Ratio. 
Company shall not permit the ratio of (i) Consolidated EBITDA to (ii)
Consolidated Cash Interest Expense for any four-Fiscal Quarter period ending
during any of the periods set forth below to be less than the correlative ratio
indicated:

	
  Period ending

  	
   

  	
  Minimum Cash Interest Ratio

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Second Fiscal Quarter 2005

  	
   

  	
  2.70:1.00

  	
   

  
	
  Third Fiscal Quarter 2005

  	
   

  	
  2.70:1.00

  	
   

  
	
  Fourth Fiscal Quarter 2005

  	
   

  	
  1.75:1.00

  	
   

  
	
  First Fiscal Quarter 2006

  	
   

  	
  2.00:1.00

  	
   

  
	
  Second Fiscal Quarter 2006

  	
   

  	
  2.00:1.00

  	
   

  
	
  Third Fiscal Quarter 2006

  	
   

  	
  2.00:1.00

  	
   

  
	
  Fourth Fiscal Quarter 2006

  	
   

  	
  2.00:1.00

  	
   

  
	
  First Fiscal Quarter 2007

  	
   

  	
  2.00:1.00

  	
   

  
	
  Second Fiscal Quarter 2007

  	
   

  	
  2.15:1.00

  	
   

  
	
  Third Fiscal Quarter 2007

  	
   

  	
  2.25:1.00

  	
   

  
	
  Fourth Fiscal Quarter 2007

  	
   

  	
  2.25:1.00

  	
   

  
	
  First Fiscal Quarter 2008

  	
   

  	
  2.30:1.00

  	
   

  
	
  Second Fiscal Quarter 2008

  	
   

  	
  2.50:1.00

  	
   

  
	
  Third Fiscal Quarter 2008

  	
   

  	
  2.50:1.00

  	
   

  
	
  Fourth Fiscal Quarter 2008

  	
   

  	
  2.50:1.00

  	
   

  
	
  First Fiscal Quarter 2009 and each Fiscal Quarter thereafter

  	
   

  	
  2.75:1.00

  	
   

  

For purposes of calculating compliance with the Minimum Cash Interest Coverage
Ratio covenant set forth in this subsection 7.6A for the period from the Second
Amendment Effective Date though the first anniversary of the Second Amendment
Effective Date, Consolidated Cash Interest Expense shall be calculated as of
any date of determination by multiplying Consolidated Cash Interest Expense
from the Second Amendment Effective Date through such date of determination by
a fraction the numerator of which is 365 and the denominator of which is the
number of days elapsed since the Second Amendment Effective Date as of such
date of determination.”

B.            Subsection 7.6B of the Credit Agreement
is hereby amended by deleting such subsection in its entirety and substituting
the following therefor:

“B.          Minimum
Fixed Charge Coverage Ratio. 
Company shall not permit the ratio of (i) the sum of (a) Consolidated
EBITDA minus (b) cash Consolidated Capital Expenditures (other than Permitted
Equity Contribution Capex) to (ii) Consolidated Fixed Charges, for any
four-Fiscal Quarter period ending during any of the periods set forth below to
be less than the correlative ratio indicated:

 

7

	
  Period ending

  	
   

  	
  Minimum Fixed Charge Coverage Ratio

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Second Fiscal Quarter 2005

  	
   

  	
  1.05:1.00

  	
   

  
	
  Third Fiscal Quarter 2005

  	
   

  	
  1.05:1.00

  	
   

  
	
  Fourth Fiscal Quarter 2005

  	
   

  	
  1.00:1.00

  	
   

  
	
  First Fiscal Quarter 2006

  	
   

  	
  1.00:1.00

  	
   

  
	
  Second Fiscal Quarter 2006

  	
   

  	
  1.00:1.00

  	
   

  
	
  Third Fiscal Quarter 2006

  	
   

  	
  1.00:1.00

  	
   

  
	
  Fourth Fiscal Quarter 2006

  	
   

  	
  1.00:1.00

  	
   

  
	
  First Fiscal Quarter 2007

  	
   

  	
  1.00:1.00

  	
   

  
	
  Second Fiscal Quarter 2007

  	
   

  	
  1.05:1.00

  	
   

  
	
  Third Fiscal Quarter 2007

  	
   

  	
  1.05:1.00

  	
   

  
	
  Fourth Fiscal Quarter 2007

  	
   

  	
  1.05:1.00

  	
   

  
	
  First Fiscal Quarter 2008 and each Fiscal Quarter thereafter

  	
   

  	
  1.10:1.00

  	
   

  

For purposes of calculating compliance with the Minimum Fixed Charge Coverage
Ratio covenant set forth in this subsection 7.6B for the period from the Closing
Date though the day immediately preceding the Second Amendment Effective Date,
the component of such calculation consisting of or including (i) (1) scheduled
principal payments in respect of Consolidated Total Debt and (2) Consolidated
Cash Interest Expense, shall be calculated as of any date of determination
occurring prior to the Second Amendment Effective Date by multiplying such
component from the Closing Date through such date of determination by a
fraction the numerator of which is 365 and the denominator of which is the
number of days elapsed since the Closing Date as of such date of determination
and (ii) “provisions for taxes based on income” shall be deemed to be
$2,461,000 for the second Fiscal Quarter of 2004, $2,444,000 for the third
Fiscal Quarter of 2004, and  $5,028,000
for the fourth Fiscal Quarter of 2004. 
For purposes of calculating compliance with the Minimum Fixed Charge
Coverage Ratio covenant set forth in this subsection 7.6B for the period from
the Second Amendment Effective Date though the first anniversary of the Second
Amendment Effective Date, the component of such calculation consisting of or
including (1) scheduled principal payments in respect of Consolidated Total
Debt, (2) Consolidated Cash Interest Expense and (3) taxes based on income and
payable in cash, shall be calculated as of any date of determination occurring
on or after the Second Amendment Effective Date by multiplying such component
from the Second Amendment Effective Date through such date of determination by
a fraction the numerator of which is 365 and the denominator of which is the
number of days elapsed since the Second Amendment Effective Date as of such
date of determination.”

C.            Subsection 7.6C of the Credit Agreement
is hereby amended by deleting the table contained therein in its entirety and
substituting the following therefor:

 

8

	
  Period ending

  	
   

  	
  Maximum Leverage Ratio

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Second Fiscal Quarter 2005

  	
   

  	
  4.75:1.00

  	
   

  
	
  Third Fiscal Quarter 2005

  	
   

  	
  4.75:1.00

  	
   

  
	
  Fourth Fiscal Quarter 2005

  	
   

  	
  5.90:1.00

  	
   

  
	
  First Fiscal Quarter 2006

  	
   

  	
  5.75:1.00

  	
   

  
	
  Second Fiscal Quarter 2006

  	
   

  	
  5.50:1.00

  	
   

  
	
  Third Fiscal Quarter 2006

  	
   

  	
  5.50:1.00

  	
   

  
	
  Fourth Fiscal Quarter 2006

  	
   

  	
  5.25:1.00

  	
   

  
	
  First Fiscal Quarter 2007

  	
   

  	
  5.00:1.00

  	
   

  
	
  Second Fiscal Quarter 2007

  	
   

  	
  5.00:1.00

  	
   

  
	
  Third Fiscal Quarter 2007

  	
   

  	
  4.75:1.00

  	
   

  
	
  Fourth Fiscal Quarter 2007

  	
   

  	
  4.50:1.00

  	
   

  
	
  First Fiscal Quarter 2008

  	
   

  	
  4.25:1.00

  	
   

  
	
  Second Fiscal Quarter 2008

  	
   

  	
  4.10:1.00

  	
   

  
	
  Third Fiscal Quarter 2008

  	
   

  	
  4.00:1.00

  	
   

  
	
  Fourth Fiscal Quarter 2008

  	
   

  	
  4.00:1.00

  	
   

  
	
  First Fiscal Quarter 2009

  	
   

  	
  3.50:1.00

  	
   

  
	
  Second Fiscal Quarter 2009

  	
   

  	
  3.50:1.00

  	
   

  
	
  Third Fiscal Quarter 2009

  	
   

  	
  3.50:1.00

  	
   

  
	
  Fourth Fiscal Quarter 2009

  	
   

  	
  3.50:1.00

  	
   

  
	
  First Fiscal Quarter 2010

  	
   

  	
  3.00:1.00

  	
   

  
	
  Second Fiscal Quarter 2010

  	
   

  	
  3.00:1.00

  	
   

  
	
  Third Fiscal Quarter 2010

  	
   

  	
  3.00:1.00

  	
   

  
	
  Fourth Fiscal Quarter 2010

  	
   

  	
  3.00:1.00

  	
   

  
	
  First Fiscal Quarter 2011
  and each Fiscal Quarter thereafter

  	
   

  	
  2.75:1.00

  	
   

  

 

1.11                        Amendments to Subsection 7.8:
Consolidated Capital Expenditures.

A.            Subsection 7.8 of the Credit Agreement is
hereby amended by deleting such subsection in its entirety and substituting the
following therefor:

“7.8        Consolidated Capital
Expenditures.

Company shall not, and shall not permit its Subsidiaries to, make or
incur Consolidated Capital Expenditures (other than a Permitted Equity Contribution
Capex) in any Fiscal Year indicated below, in an aggregate amount in excess of
the corresponding amount (the “Maximum Consolidated
Capital Expenditures Amount”) set forth below opposite such Fiscal
Year; provided that the Maximum Consolidated Capital Expenditures Amount
for any Fiscal Year shall be increased by an amount equal to the excess, if
any, (but in no event more than $6,000,000) of the Maximum Consolidated Capital
Expenditures Amount for the previous Fiscal Year (as adjusted in accordance
with this proviso) over the actual amount of Consolidated Capital Expenditures
for such previous Fiscal Year; provided, further that in no event shall the
amount of such increase exceed 50% of the Maximum Consolidated Capital
Expenditures Amount for such previous Fiscal Year:

	
  Fiscal Year

  	
   

  	
  Maximum Consolidated

  Capital Expenditures

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  2005

  	
   

  	
  $10,000,000

  	
   

  
	
  2006

  	
   

  	
  $12,000,000

  	
   

  
	
  2007

  	
   

  	
  $12,000,000

  	
   

  
	
  2008

  	
   

  	
  $12,000,000

  	
   

  
	
  2009

  	
   

  	
  $12,000,000

  	
   

  
	
  2010

  	
   

  	
  $15,000,000

  	
   

  
	
  2011

  	
   

  	
  $16,000,000”

  	
   

  

 

9

SECTION 2.                                                    REPRESENTATIONS AND WARRANTIES

In order to induce
Lenders and Administrative Agent to enter into this Amendment, Company and
Holdings each represents and warrants to each Lender and Administrative Agent
that the following statements are true, correct and complete:

(i)            each of Company and
Holdings has all requisite corporate power and authority to enter into this
Amendment and to carry out the transactions contemplated by, and perform its
obligations under, the Credit Agreement as amended by this Amendment (the “Amended Agreement”);

(ii)           the execution and
delivery of this Amendment and the performance of the Amended Agreement have
been duly authorized by all necessary corporate action on the part of Company
and Holdings;

(iii)          the execution and
delivery by Company and Holdings of this Amendment and the performance by
Company and Holdings of the Amended Agreement do not and will not (i) violate
any provision of any law or any governmental rule or regulation applicable to
Holdings, Company or any of its Subsidiaries, the Certificate or Articles of
Incorporation or Bylaws of Holdings, Company or any of its Subsidiaries or any
order, judgment or decree of any court or other agency of government binding on
Holdings, Company or any of its Subsidiaries, (ii) conflict with, result in a
breach of or constitute (with due notice or lapse of time or both) a default
under any Contractual Obligation of Holdings, Company or any of its
Subsidiaries, (iii) result in or require the creation or imposition of any Lien
upon any of the properties or assets of Holdings, Company or any of its
Subsidiaries (other than Liens created under any of the Loan Documents in favor
of Administrative Agent on behalf of Lenders and other Liens permitted under
the Amended Agreement), or (iv) require any approval of stockholders or any
approval or consent of any Person under any Contractual Obligation of Holdings,
Company or any of its Subsidiaries, except for with respect to the foregoing
clauses (i) , (ii) and (iv)  above, such violations, conflicts,
breaches, defaults or failures to obtain approvals or consents which could not
reasonably be expected to have, individually or in the aggregate, a Material
Adverse Effect;

(iv)          the execution and
delivery by Company of this Amendment and the performance by Holdings and
Company of the Amended Agreement do not and will not require any registration
with, consent or approval of, or notice to, or other action to, with or by, any
federal, state or other governmental authority or regulatory body, except for
registrations, consents, approvals, notices and other actions the failure to
obtain or take have not and could not reasonably be expected to have,
individually or in the aggregate, a Material Adverse Effect;

(v)           this Amendment and
the Amended Agreement have been duly executed and delivered by Company and
Holdings and are the legally valid and binding obligations of Company and
Holdings, enforceable against Company and Holdings in accordance with their

 

10

 

respective terms,
except as may be limited by bankruptcy, insolvency, reorganization, moratorium
or similar laws relating to or limiting creditors’ rights generally or by
equitable principles relating to enforceability;

(vi)          the representations
and warranties contained in Section 5 of the Credit Agreement are and will be
true, correct and complete in all material respects on and as of the date
hereof and the Second Amendment Effective Date to the same extent as though
made on and as of such dates, except to the extent such representations and
warranties specifically relate to an earlier date, in which case they were
true, correct and complete in all material respects on and as of such earlier
date; and

(vii)         no event has
occurred and is continuing or will result from the consummation of the
transactions contemplated by this Amendment that would constitute an Event of
Default or a Potential Event of Default.

 

SECTION 3.                 ACKNOWLEDGEMENT AND CONSENT

Each of Company,
Holdings and each Subsidiary Guarantor (each individually a “Credit Support Party” and collectively, the “Credit Support Parties”) has read this Amendment and consents to the terms hereof and
further hereby confirms and agrees that, notwithstanding the effectiveness of
this Amendment, the obligations of such Credit Support Party under, and the
Liens granted by such Credit Support Party as collateral security for the
indebtedness, obligations and liabilities evidenced by the Credit Agreement and
the other Loan Documents pursuant to, each of the Loan Documents to which such Credit Support Party is a party shall
not be impaired and each of the Loan
Documents to which such Credit Support Party is a party is, and shall
continue to be, in full force and effect and is hereby confirmed and ratified
in all respects.

Each Subsidiary
Guarantor acknowledges and agrees that (i) notwithstanding the conditions
to effectiveness set forth in this Amendment, such Credit Support Party is not
required by the terms of the Credit Agreement or any other Loan Document to
consent to the amendments to the Credit Agreement effected pursuant to this
Amendment and (ii) nothing in the Credit Agreement, this Amendment or any
other Loan Document shall be deemed to require the consent of such Credit
Support Party to any future amendments to the Credit Agreement.

SECTION 4.                                                    CONDITIONS TO EFFECTIVENESS

Except as set forth
below, this Amendment shall become effective only upon the satisfaction of the
following conditions precedent (the “Closing Conditions”):

A.            Corporate
Documents.  On or before the Second Amendment Effective
Date, Company shall and shall cause each other Credit Support Party to deliver
to Lenders (or to Administrative Agent for Lenders with sufficient executed
copies, where appropriate, for each Lender and its counsel), with respect to
Company or such other Credit Party, as the case may be, a Secretary’s
Certificate, in form and substance reasonably satisfactory to Administrative
Agent and dated the Second Amendment Effective Date, certifying that (1) the
Organizational

 

11

 

Documents of
Company, (2) the resolutions of the Board of Directors of Company and each
other Credit Support Party and (3) the signature and incumbency certificate of
Company and each other Credit Support Party, in each case, as delivered to
Administrative Agent on the Closing Date, are in full force and effect and have
not been amended or modified in any respect since the Closing Date.

B.            Opinion
of Counsel.  Lenders and their respective counsel (or
Administrative Agent on behalf of Lenders and their respective counsel) shall
have received executed copies of one or more favorable written opinions of
Latham & Watkins LLP, counsel for Loan Parties in form and substance
reasonably satisfactory to Administrative Agent and its counsel and dated as of
the Second Amendment Effective Date.

C.            Amendment
of Second Lien Term Loan Agreement. 
Administrative Agent shall have received a written amendment of the
Second Lien Term Loan Agreement executed by Holdings, Company, Requisite
Lenders under the Second Lien Term Loan Agreement and BNP Paribas, as
administrative agent, in form and substance satisfactory to Administrative
Agent, which amendment shall be in form substantially similar to this
Amendment.

D.            Litigation. 
No action, suit, investigation, litigation or proceeding by any entity
(private or governmental) before any court, arbitration or governmental
authority shall be pending or, to the knowledge of Holdings, Company or their
respective Subsidiaries, threatened with respect to this Amendment, any other
Loan Document, any other Related Agreement or any other documentation executed
in connection herewith or with respect to the transactions contemplated hereby,
or which could reasonably be expected to have a Material Adverse Effect.

E.             Certificate Regarding Financial
Conditions.  On the Second Amendment Effective Date,
Company shall have delivered to Administrative Agent an Officer’s Certificate
executed by the chief financial officer of Company certifying that (i) for the
twelve-month period ending August 31, 2005, the ratio of (A) Consolidated Total
Debt (minus all Cash and Cash Equivalents held by any Loan Party on the last
day of such period subject to a First Priority Lien) as at such date to (B)
Consolidated EBITDA for such period, calculated on a pro forma basis to give
effect to this Amendment, the Additional Term Loans, the Second Lien Second
Amendment and the additional Second Lien Term Loans contemplated by the Second
Lien Second Amendment does not exceed 5.25:1.00, together with calculations
demonstrating the foregoing in form and substance reasonably satisfactory to
Administrative Agent, and (ii) no Potential Event of Default or Event of
Default has occurred and is continuing.

F.             Completion of
Proceedings.  All corporate and other proceedings taken or
to be taken in connection with the transactions contemplated hereby and all
documents incidental thereto not previously found acceptable by Administrative
Agent, acting on behalf of Lenders, and its counsel shall be satisfactory in
form and substance to Administrative Agent and such counsel, and Administrative
Agent and such counsel shall have received all such counterpart originals or
certified copies of such documents as Administrative Agent may reasonably request.

G.            Fees
and Expenses.  Administrative Agent shall have received all
of Administrative Agent’s reasonable costs and expenses as described in
subsection 10.2 of the Credit Agreement incurred by Administrative Agent
(including, without limitation, the

 

12

 

reasonable fees
and disbursements of O’Melveny & Myers LLP) in connection with this
Amendment and the documents and transactions related hereto, and any fees
separately agreed upon between Company and Administrative Agent.

H.            No Material Adverse
Effect.  Since December 31, 2004, there shall not have
occurred (i) a material adverse effect upon the business, operations,
properties, assets, liabilities, condition (financial or otherwise) or
prospects of Holdings, Company and its subsidiaries, taken as a whole or (ii) a
material adverse effect on the ability of Holdings, Company or any of its
subsidiaries executing a Loan Document to perform, or of Administrative Agent
or any Lender to enforce, the obligations under the Loan Documents.

I.              Notification
of Execution.  Receipt by Administrative Agent and Company
of written or telephonic notice that Company, Holdings, the Lenders and each of
the Credit Support Parties has executed this Amendment and authorized its
delivery.

Notwithstanding
anything herein to the contrary, the amendments to the Credit Agreement set
forth in subsections 1.4, 1.7, 1.8, 1.9, 1.10 and 1.11 of this Amendment shall
become effective only upon the satisfaction of all the Closing Conditions and
the Funding Condition (as defined below) and the funding of the Additional Term
Loans.

SECTION 5.                                                    CONDITION TO FUNDING

The obligation of any
Lender to make Additional Term Loans shall be conditioned on the satisfaction
of all funding conditions set forth in Section 4.2 of the Credit Agreement with
respect to the Additional Term Loans and the receipt by Administrative Agent
and Company of written or telephonic notice that Company, Holdings, the
Lenders, Lenders providing Additional Term Loan Commitments aggregating
$96,000,000, and each of the Credit Support Parties has executed this Amendment
and authorized its delivery (the “Funding Condition”).

SECTION 6.                                                    MISCELLANEOUS

A.            Reference
to and Effect on the Credit Agreement and the Other Loan Documents.

(i)            On
and after the effective date of this Amendment, each reference in the Credit
Agreement to “this Agreement”, “hereunder”, “hereof”, “herein” or words of like
import referring to the Credit Agreement and each reference in the other Loan
Documents to the “Credit Agreement”, “thereunder”, “thereof” or words of like
import referring to the Credit Agreement shall mean and be a reference to the
Credit Agreement as amended hereby.

(ii)           Except
as specifically amended by this Amendment, the Credit Agreement and the other
Loan Documents shall remain in full force and effect and are hereby ratified
and confirmed.

(iii)          The
execution, delivery and performance of this Amendment shall not, except as
expressly provided herein, constitute a waiver of any provision of, or operate
as

 

13

 

a waiver of any right, power or remedy of Administrative Agent or any
Lender under the Credit Agreement or any of the other Loan Documents.

B.            Headings. 
Section and subsection headings in this Amendment are included herein
for convenience of reference only and shall not constitute a part of this
Amendment for any other purpose or be given any substantive effect.

C.            Applicable
Law.  THIS AMENDMENT AND THE RIGHTS AND
OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND SHALL BE
CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF
NEW YORK (INCLUDING WITHOUT LIMITATION SECTION 5-1401 OF THE GENERAL
OBLIGATIONS LAW OF THE STATE OF NEW YORK).

D.            Counterparts. 
This Amendment may be executed in any number of counterparts and by
different parties hereto in separate counterparts, each of which when so
executed and delivered shall be deemed an original, but all such counterparts
together shall constitute but one and the same instrument; signature pages may
be detached from multiple separate counterparts and attached to a single
counterpart so that all signature pages are physically attached to the same
document.

[Remainder
of this page intentionally left blank]

 

14

 

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

COMPANY:

	
   

  	
  MD
  BEAUTY, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ LESLIE A. BLODGETT

  
	
   

  	
  Name:

  	
  Leslie A Blodgett

  
	
   

  	
  Title:

  	
  President, Chief Executive
  Officer and Secretary

  

 

 

HOLDINGS:

	
   

  	
  STB
  BEAUTY, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ LESLIE A. BLODGETT

  
	
   

  	
  Name:

  	
  Leslie A Blodgett

  
	
   

  	
  Title:

  	
  President and Chief
  Executive Officer

  

 

 

 

 

S-1

 

CREDIT
SUPPORT PARTIES:

(for purposes of Section 3)                                                                                                       

	
   

  	
  STB
  BEAUTY, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ LESLIE A. BLODGETT

  
	
   

  	
  Name:

  	
  Leslie A Blodgett

  
	
   

  	
  Title:

  	
  President and Chief
  Executive Officer

  

 

 

 

	
   

  	
  BARE
  ESCENTUALS, INC.

  
	
   

  	
  BIOCEUTIX
  INC.

  
	
   

  	
  ID
  DIRECT, INC.

  
	
   

  	
  MD
  BEAUTY SALES, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ LESLIE A. BLODGETT

  
	
   

  	
  Name:

  	
  Leslie A Blodgett

  
	
   

  	
  Title:

  	
  President, Chief Executive
  Officer and Secretary

  

 

 

 

S-2

 

LENDERS:

 

	
   

  	
  BNP
  PARIBAS,

  
	
   

  	
  individually
  and as Administrative Agent

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ CECILE SCHERER

  
	
   

  	
  Name:

  	
  Cecile Shcerer

  
	
   

  	
  Title:

  	
  Director, Merchant Banking
  Group

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ AMY KIRCHNER

  
	
   

  	
  Name:

  	
  Amy Kirschner

  
	
   

  	
  Title:

  	
  Director

  

 

 

 

S-3

 

	
   

  	
  VAN KAMPEN

  
	
   

  	
  SENIOR INCOME TRUST

  
	
   

  	
  By: Van Kampen Asset Management

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ CHRISTINA JAMIESON

  
	
   

  	
  Name:

  	
  Christina Jamieson

  
	
   

  	
  Title:

  	
  Executive Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  The Lender’s execution of
  this Amendment signifies only the Lender’s consent to this Amendment, and
  does not constitute a commitment to provide any portion of the Additional
  Term Loans. Any such commitment would be expressed in a separate commitment
  letter or other written agreement.

  

 

 

 

S-4

 

	
   

  	
  VAN KAMPEN

  
	
   

  	
  SENIOR LOAN FUND

  
	
   

  	
  By: Van Kampen Asset Management

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ CHRISTINA JAMIESON

  
	
   

  	
  Name: 

  	
  Christina Jamieson

  
	
   

  	
  Title: 

  	
  Executive Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  The Lender’s execution of
  this Amendment signifies only the Lender’s consent to this Amendment, and
  does not constitute a commitment to provide any portion of the Additional
  Term Loans. Any such commitment would be expressed in a separate commitment
  letter or other written agreement. 

  

 

 

 

S-5

 

	
   

  	
  Stanfield Carrera CLO, Ltd.

  
	
   

  	
  By: Stanfield Capital Partners
  LLC

  
	
   

  	
  as its Asset Manager

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ CHRISTOPHER E. JANSEN

  
	
   

  	
  Name:

  	
  Christopher E. Jansen

  
	
   

  	
  Title: 

  	
  Managing Partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  The Lender’s execution of
  this Amendment signifies only the Lender’s consent to this Amendment, and
  does not constitute a commitment to provide any portion of the Additional
  Term Loans. Any such commitment would be expressed in a separate commitment
  letter or other written agreement. 

  

 

 

 

S-6

 

	
   

  	
  Stanfield Arbitrage CDO, Ltd.

  
	
   

  	
  By: Stanfield Capital Partners
  LLC

  
	
   

  	
  as its Collateral Manager

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ CHRISTOPHER E. JANSEN

  
	
   

  	
  Name: 

  	
  Christopher E. Jansen

  
	
   

  	
  Title: 

  	
  Managing Partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  The Lender’s execution of
  this Amendment signifies only the Lender’s consent to this Amendment, and
  does not constitute a commitment to provide any portion of the Additional
  Term Loans. Any such commitment would be expressed in a separate commitment
  letter or other written agreement. 

  

 

 

 

S-7

 

	
   

  	
  Stanfield Vantage CLO, Ltd

  
	
   

  	
  By: Stanfield Capital Partners,
  LLC

  
	
   

  	
  as its Asset Manager

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ CHRISTOPHER E. JANSEN

  
	
   

  	
  Name:

  	
  Christopher E. Jansen

  
	
   

  	
  Title: 

  	
  Managing Partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  The Lender’s execution of
  this Amendment signifies only the Lender’s consent to this Amendment, and
  does not constitute a commitment to provide any portion of the Additional
  Term Loans. Any such commitment would be expressed in a separate commitment letter
  or other written agreement. 

  

 

 

 

S-8

 

	
   

  	
  Stanfield Bristol CLO, Ltd.

  
	
   

  	
  By: Stanfield Capital Partners
  LLC

  
	
   

  	
  as it Collateral Manager

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ CHRISTOPHER E. JANSEN

  
	
   

  	
  Name:

  	
  Christopher E. Jansen

  
	
   

  	
  Title: 

  	
  Managing Partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  The Lender’s execution of
  this Amendment signifies only the Lender’s consent to this Amendment, and
  does not constitute a commitment to provide any portion of the Additional
  Term Loans. Any such commitment would be expressed in a separate commitment
  letter or other written agreement. 

  

 

 

 

S-9

 

	
   

  	
  CIT LENDING SERVICES

  
	
   

  	
  CORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ MICHAEL L. LAMANES

  
	
   

  	
  Name:  

  	
  Michael L. LaManes

  
	
   

  	
  Title: 

  	
  Authorized Signatory

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  The Lender’s execution of
  this Amendment signifies only the Lender’s consent to this Amendment, and
  does not constitute a commitment to provide any portion of the Additional
  Term Loans. Any such commitment would be expressed in a separate commitment
  letter or other written agreement. 

  

 

 

 

S-10

 

	
   

  	
  CIBC Inc.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ GERALD GIRARDI

  
	
   

  	
  Name: 

  	
  Gerald Girardi

  
	
   

  	
  Title: 

  	
  Authorized Signatory

  
	
   

  	
   

  	
  CIBC Inc.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  The Lender’s execution of
  this Amendment signifies only the Lender’s consent to this Amendment, and
  does not constitute a commitment to provide any portion of the Additional
  Term Loans. Any such commitment would be expressed in a separate commitment
  letter or other written agreement. 

  

 

 

 

S-11

 

	
   

  	
  OWS CLO I Ltd.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ DEAN STEPHAN

  
	
   

  	
  Name: 

  	
  Dean Stephan

  
	
   

  	
  Title: 

  	
  Managing Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  The Lender’s execution of
  this Amendment signifies only the Lender’s consent to this Amendment, and
  does not constitute a commitment to provide any portion of the Additional
  Term Loans. Any such commitment would be expressed in a separate commitment
  letter or other written agreement.

  

 

 

 

S-12

 

	
  ACA CLO 2005-1, Limited

  	
  [NAME OF LENDER]

  
	
   

  	
   

  	
   

  
	
  ACA Management, LLC as

  	
   

  	
   

  
	
  Investment Advisor

  	
  By:

  	
  /s/ VINCENT INGATO

  
	
   

  	
  Name: 

  	
  Vincent Ingato

  
	
   

  	
  Title: 

  	
  Managing Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  The Lender’s execution of
  this Amendment signifies only the Lender’s consent to this Amendment, and
  does not constitute a commitment to provide any portion of the Additional
  Term Loans. Any such commitment would be expressed in a separate commitment
  letter or other written agreement.

  

 

 

 

S-13

 

	
   

  	
  CYPRESSTREE CLAIF FUNDING LLC

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ M. CRISTINA HIGGINS

  
	
   

  	
  Name:  

  	
  M. Cristina Higgins

  
	
   

  	
  Title: 

  	
  Assistant Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  The Lender’s execution of
  this Amendment signifies only the Lender’s consent to this Amendment, and
  does not constitute a commitment to provide any portion of the Additional
  Term Loans. Any such commitment would be expressed in a separate commitment
  letter or other written agreement.

  

 

 

 

S-14

 

	
   

  	
  Mountain Capital CLO II Ltd.

  
	
   

  	
  [NAME OF LENDER]

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ JONATHAN DIETZ

  
	
   

  	
  Name: 

  	
  Jonathan Dietz

  
	
   

  	
  Title: 

  	
  Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  The Lender’s execution of
  this Amendment signifies only the Lender’s consent to this Amendment, and
  does not constitute a commitment to provide any portion of the Additional
  Term Loans. Any such commitment would be expressed in a separate commitment
  letter or other written agreement.

  

 

 

 

S-15

 

 

	
   

  	
  GSC PARTNERS CDO FUND V,
  LIMITED

  
	
   

  	
   

  	
   

  
	
   

  	
  By: GSCP (NJ), L,P., as
  Collateral Manager

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ ALEXANDER B. WRIGHT

  
	
   

  	
  Name:

  	
  Alexander B. Wright

  
	
   

  	
  Title:

  	
  Authorized Signatory

  
	
   

  	
   

  	
   

  
	
   

  	
  The Lender’s execution of
  this Amendment signifies only the Lender’s consent to this Amendment, and
  does not constitute a commitment to provide any portion of the Additional
  Term Loans, Any such commitment would be expressed in a separate commitment
  letter or other written agreement.

  
				

 

 

 

S-16

 

 

	
   

  	
  GSC PARTNERS CDO FUND IV,
  LIMITED

  
	
   

  	
   

  	
   

  
	
   

  	
  By: GSCP (NJ), L,P., as
  Collateral Manager

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ ALEXANDER B. WRIGHT

  
	
   

  	
  Name:

  	
  Alexander B. Wright

  
	
   

  	
  Title:

  	
  Authorized Signatory

  
	
   

  	
   

  	
   

  
	
   

  	
  The Lender’s execution of
  this Amendment signifies only the Lender’s consent to this Amendment, and
  does not constitute a commitment to provide any portion of the Additional
  Term Loans, Any such commitment would be expressed in a separate commitment
  letter or other written agreement.

  
				

 

 

 

S-17

 

	
   

  	
  GSC PARTNERS GEMINI FUND
  LIMITED

  
	
   

  	
   

  	
   

  
	
   

  	
  By: GSCP (NJ). L.P., as
  Collateral Monitor

  
	
   

  	
  By. GSCP (NJ), INC., its
  General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ ALEXANDER B. WRIGHT

  
	
   

  	
  Name:

  	
  Alexander B. Wright

  
	
   

  	
  Title:

  	
  Authorized Signatory

  
	
   

  	
   

  	
   

  
	
   

  	
  The Lender’s execution of
  this Amendment signifies only the Lender’s consent to this Amendment, and
  does not constitute a commitment to provide any portion of the Additional
  Term Loans. Any such commitment would be expressed in a separate commitment
  letter or other written agreement.

  
				

 

 

 

S-18

 

	
   

  	
  The Governor and Company of the
  Bank of Ireland

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ JOHN O’CONNOR

  
	
   

  	
  Name:

  	
  John O’Connor

  
	
   

  	
  Title:

  	
  Authorised Signatory

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ NIAMH MURPHY

  
	
   

  	
  Name:

  	
  Niamh Murphy

  
	
   

  	
  Title:

  	
  Authorised Signatory

  
	
   

  	
   

  	
   

  
	
   

  	
  The Lender’s execution of
  this Amendment signifies only the Lender’s consent to this Amendment, and
  does not constitute a commitment to provide any portion of the Additional
  Term Loans. Any such commitment would be expressed in a separate commitment
  letter or other written agreement.

  
	
   

  	
   

  	
   

  
				

 

 

 

S-19

 

	
   

  	
  NAVIGATOR CDO 2003, LTD.

  
	
   

  	
  By Antares Asset Management
  Inc. as Collateral Manager

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ JOHN G. MARTIN

  
	
   

  	
  Name: 

  	
  John G. Martin

  
	
   

  	
  Title: 

  	
  Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
  NAVIGATOR CDO 2004, LTD.

  
	
   

  	
  By Antares Asset Management
  Inc. as Collateral Manager

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ JOHN G. MARTIN

  
	
   

  	
  Name:

  	
  John G. Martin

  
	
   

  	
  Title: 

  	
  Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
  NAVIGATOR CDO 2005, LTD.

  
	
   

  	
  By Antares Asset Management
  Inc. as Collateral Manager

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ JOHN G. MARTIN

  
	
   

  	
  Name: 

  	
  John G. Martin

  
	
   

  	
  Title: 

  	
  Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
  The Lender’s execution of
  this Amendment signifies : only the Lender’s consent to this Amendment, and
  does not constitute a commitment to provide any portion of the Additional
  Term Loans. Any such commitment would be expressed in a separate commitment
  letter or other written agreement.

  

 

 

 

S-20

 

	
   

  	
  HUDSON STRAITS CLO 2004,
  LTD.

  
	
   

  	
   

  	
   

  
	
   

  	
  By: GSO Capital Partners
  LP as Collateral Manager

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ MELISSA MARANO

  
	
   

  	
  Name: 

  	
  Melissa Marano

  
	
   

  	
  Title: 

  	
  Authorized Signatory

  
	
   

  	
   

  	
   

  
	
   

  	
  The Lender’s execution of
  this Amendment signifies only the Lender’s consent to this Amendment, and
  does not constitute a commitment to provide any portion of the Additional
  Term Loans. Any such commitment would be expressed in a separate commitment
  letter or other written agreement.

  

 

 

 

S-21

 

	
   

  	
  Gale Force I CLO, Ltd.

  
	
   

  	
  By: CSO Capital Partners
  LP as Collateral Manager

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ MELISSA MARANO

  
	
   

  	
  Name:

  	
  Melissa Marano

  
	
   

  	
  Title:

  	
  Authorized Signatory

  
	
   

  	
   

  	
   

  
	
   

  	
  The Lender’s execution of
  this Amendment signifies only the Lender’s consent to this Amendment, and
  does not constitute a commitment to provide any portion of the Additional
  Term Loans, Any such commitment would be expressed in a separate commitment
  letter or other written agreement.

  

 

 

 

S-22

 

	
   

  	
  Denali Capital LLC,
  managing member of DC Funding Partners, portfolio manager for DENALI CAPITAL
  CLO I, LTD., or an affiliate

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ KELLI C. MARTI

  
	
   

  	
  Name:

  	
  KELLI C. MARTI

  
	
   

  	
  Title:

  	
  VICE PRESIDENT

  
	
   

  	
   

  	
   

  
	
   

  	
  The Lender’s execution of
  this Amendment signifies only the Lender’s consent to this Amendment, and
  does not constitute a commitment to provide any portion of the Additional
  Term Loans. Any such commitment would be expressed in a separate commitment
  letter or other written agreement.

  

 

 

 

S-23

 

	
   

  	
  Denali Capital LLC,
  managing member of DC Funding Partners, portfolio manager for DENALI CAPITAL
  CLO II, LTD., or an affiliate

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ KELLI C. MARTI

  
	
   

  	
  Name:

  	
  KELLI C. MARTI

  
	
   

  	
  Title:

  	
  VICE PRESIDENT

  
	
   

  	
   

  	
   

  
	
   

  	
  The Lender’s execution of
  this Amendment signifies only the Lender’s consent to this Amendment, and
  does not constitute a commitment to provide any portion of the Additional
  Term Loans. Any such commitment would be expressed in a separate commitment
  letter or other written agreement.

  

 

 

 

S-24

 

	
   

  	
   

  	
   

  
	
   

  	
  Denali Capital LLC,
  managing member of DC Funding Partners, portfolio manager for DENALI CAPITAL
  CLO III, LTD., or an affiliate

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ KELLI C. MARTI

  
	
   

  	
  Name:

  	
  KELLI C. MARTI

  
	
   

  	
  Title

  	
  VICE PRESIDENT

  
	
   

  	
   

  	
   

  
	
   

  	
  The Lender’s execution of
  this Amendment signifies only the Lender’s consent to this Amendment, and
  does not constitute a commitment to provide any portion of the Additional
  Term Loans, Any such commitment would be expressed in a separate commitment
  letter or other written agreement.

  
				

 

 

 

S-25

 

	
   

  	
  Denali Capital LLC,
  managing member of DC Funding Partners LLC, portfolio manager for DENALI
  CAPITAL CLO IV, LTD., or an affiliate

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ KELLI C. MARTI

  
	
   

  	
  Name:

  	
  KELLI C. MARTI

  
	
   

  	
  Title:

  	
  VICE PRESIDENT

  
	
   

  	
   

  	
   

  
	
   

  	
  The Lender’s execution of
  this Amendment signifies only the Lender’s consent to this Amendment, and
  does not constitute a commitment to provide any portion of the Additional
  Term Loans. Any such commitment would be expressed in a separate commitment
  letter or other written agreement.

  

 

 

 

S-26

 

	
   

  	
  CREDIT SUISSE FIRST BOSTON
  INTERNATIONAL

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ [ILLEGIBLE]

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  The Lender’s execution of
  this Amendment signifies only the Lender’s consent to this Amendment, and
  does not constitute a commitment to provide any portion of the Additional
  Term Loans, Any such commitment would be expressed in a separate commitment
  letter or other written agreement.

  

 

 

 

S-27

 

	
   

  	
  Whitney Private Debt Fund, L.P.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ KEVIN J. CURLEY

  
	
   

  	
  Name 

  	
  Kevin J. Curley

  
	
   

  	
  Title: 

  	
  Authorized Signatory

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  The Lender’s execution of
  this Amendment signifies only the Lender’s consent to this Amendment, and
  does not constitute a commitment to provide any portion of the Additional
  Term Loans. Any such commitment would be expressed in a separate commitment
  letter or other written agreement.

  

 

 

 

S-28

 

	
   

  	
  LightPoint CLO III, Ltd.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ TIMOTHY S. VAN KIRK

  
	
   

  	
  Name:

  	
  Timothy S. Van Kirk

  
	
   

  	
  Title: 

  	
  Managing Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  The Lender’s execution of
  this Amendment signifies only the Lender’s consent to this Amendment, and
  does not constitute a commitment to provide any portion of the Additional
  Term Loans. Any such commitment would be expressed in a separate commitment
  letter or other written agreement.

  

 

 

 

S-29

 

	
   

  	
  Vista Leveraged Income Fund

  
	
   

  	
   

  	
   

  
	
   

  	
  By its investment advisor, MJX
  Asset

  
	
   

  	
  Management LLC

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ MARTIN DAVEY

  
	
   

  	
  Name:

  	
  Martin Davey

  
	
   

  	
  Title: 

  	
  Managing Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  The Lender’s execution of
  this Amendment signifies only the Lender’s consent to this Amendment, and
  does not constitute a commitment to provide any portion of the Additional
  Term Loans. Any such commitment would be expressed in a separate commitment
  letter or other written agreement.

  
				

 

 

 

S-30

 

	
   

  	
  Venture IV CDO Limited

  
	
   

  	
   

  	
   

  
	
   

  	
  By its investment advisor, MJX Asset

  
	
   

  	
  Management LLC

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ MARTIN DAVEY

  
	
   

  	
  Name:

  	
  Martin Davey

  
	
   

  	
  Title: 

  	
  Managing Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  The Lender’s execution of
  this Amendment signifies only the Lender’s consent to this Amendment, and
  does not constitute a commitment to provide any portion of the Additional
  Term Loans. Any such commitment would be expressed in a separate commitment
  letter or other written agreement.

  
				

 

 

 

S-31

 

	
   

  	
  Venture III CDO Limited

  
	
   

  	
   

  	
   

  
	
   

  	
  By its investment advisor, MJX
  Asset 

  
	
   

  	
  Management LLC

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ MARTIN DAVEY

  
	
   

  	
  Name:

  	
  Martin Davey

  
	
   

  	
  Title: 

  	
  Managing Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  The Lender’s execution of
  this Amendment signifies only the Lender’s consent to this Amendment, and
  does not constitute a commitment to provide any portion of the Additional
  Term Loans. Any such commitment would be expressed in a separate commitment
  letter or other written agreement.

  
				

 

 

 

S-32

 

	
   

  	
  Venture II CDO 2002 Limited

  
	
   

  	
   

  	
   

  
	
   

  	
  By its investment advisor, MJX
  Asset 

  
	
   

  	
  Management LLC

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ MARTIN DAVEY

  
	
   

  	
  Name:

  	
  Martin Davey

  
	
   

  	
  Title: 

  	
  Managing Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  The Lender’s execution of
  this Amendment signifies only the Lender’s consent to this Amendment, and
  does not constitute a commitment to provide any portion of the Additional
  Term Loans. Any such commitment would be expressed in a separate commitment
  letter or other written agreement.

  
				

 

 

 

S-33

 

	
   

  	
  Venture CDO 2002 Limited

  
	
   

  	
   

  	
   

  
	
   

  	
  By its investment advisor, MJX
  Asset 

  
	
   

  	
  Management LLC

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ MARTIN DAVEY

  
	
   

  	
  Name:

  	
  Martin Davey

  
	
   

  	
  Title: 

  	
  Managing Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  The Lender’s execution of
  this Amendment signifies only the Lender’s consent to this Amendment, and
  does not constitute a commitment to provide any portion of the Additional
  Term Loans. Any such commitment would be expressed in a separate commitment
  letter or other written agreement.

  
				

 

 

 

S-34

 

	
   

  	
  Atrium IV

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ DAVID H. LERNER

  
	
   

  	
  Name:

  	
  DAVID H. LERNER

  
	
   

  	
  Title: 

  	
  AUTHORIZED SIGNATORY

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  The Lender’s execution of
  this Amendment signifies only the Lender’s consent to this Amendment, and
  does not constitute a commitment to provide any portion of the Additional
  Term Loans. Any such commitment would be expressed in a separate commitment
  letter or other written agreement.

  

 

 

 

S-35

 

	
   

  	
  Madison Park Funding I, Ltd.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ DAVID H. LERNER

  
	
   

  	
  Name:

  	
  DAVID H. LERNER

  
	
   

  	
  Title: 

  	
  AUTHORIZED SIGNATORY

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  The Lender’s execution of
  this Amendment signifies only the Lender’s consent to this Amendment, and
  does not constitute a commitment to provide any portion of the Additional
  Term Loans. Any such commitment would be expressed in a separate commitment
  letter or other written agreement.

  

 

 

 

S-36

 

	
   

  	
  Atrium II

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ DAVID H. LERNER

  
	
   

  	
  Name:

  	
  DAVID H. LERNER

  
	
   

  	
  Title: 

  	
  AUTHORIZED SIGNATORY

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  The Lender’s execution of
  this Amendment signifies only the Lender’s consent to this Amendment, and
  does not constitute a commitment to provide any portion of the Additional
  Term Loans. Any such commitment would be expressed in a separate commitment
  letter or other written agreement.

  

 

 

 

S-37

 

	
   

  	
  Oppenheimer Senior Floating
  Rate Fund

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ SUSANNA EVANS

  
	
   

  	
  Name:

  	
  Susanna Evans

  
	
   

  	
  Title: 

  	
  Manager

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  The Lender’s execution of
  this Amendment signifies only the Lender’s consent to this Amendment, and
  does not constitute a commitment to provide any portion of the Additional
  Term Loans. Any such commitment would be expressed in a separate commitment
  letter or other written agreement.

  

 

 

 

S-38

 

	
   

  	
  ING PRIME RATE TRUST

  
	
   

  	
  By: ING Investment Management
  Co.

  
	
   

  	
        as its investment manager

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ BRIAN S. HORTON

  
	
   

  	
  Name:

  	
  Brian S. Horton

  
	
   

  	
  Title: 

  	
  Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
  The Lender’s execution of
  this Amendment signifies only the Lender’s consent to this Amendment, and
  does not constitute a commitment to provide any portion of the Additional
  Term Loans. Any such commitment would be expressed in a separate commitment
  letter or other written agreement.

  

 

 

 

S-39

 

	
   

  	
  Investors Bank & Trust
  Company as Sub-Custodian Agent of CypressTree International Loan Holding
  Company Limited 

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ PRESTON I. CARNES, JR.

  
	
   

  	
  Name:

  	
  Preston I. Carnes, Jr.

  
	
   

  	
  Title: 

  	
  Managing Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ MARTHA HADELER

  
	
   

  	
  Name: 

  	
  Martha Hadeler

  
	
   

  	
  Title: 

  	
  Managing Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  The Lender’s execution of
  this Amendment signifies only the Lender’s consent to this Amendment, and
  does not constitute a commitment to provide any portion of the Additional
  Term Loans. Any such commitment would be expressed in a separate commitment
  letter or other written agreement.

  

 

 

 

S-40

 

	
   

  	
  Hewett’s Island CLO II, Ltd.

  
	
   

  	
  By: CypressTree Investment
  Management Company, Inc.,

  
	
   

  	
  as Portfolio Manager

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ PRESTON I CARNES, JR.

  
	
   

  	
  Name:

  	
  Preston I Carnes, Jr.

  
	
   

  	
  Title: 

  	
  Managing Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  The Lender’s execution of
  this Amendment signifies only the Lender’s consent to this Amendment, and
  does not constitute a commitment to provide any portion of the Additional
  Term Loans. Any such commitment would be expressed in a separate commitment
  letter or other written agreement.

  

 

 

 

S-41

 

	
   

  	
  MORGAN STANLEY PRIME INCOME
  TRUST

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By: 

  	
  /s/ [ILLEGIBLE]

  
	
   

  	
  Name:

  	
  [ILLEGIBLE]

  
	
   

  	
  Title: 

  	
  VICE PRESIDENT

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  The Lender’s execution of
  this Amendment signifies only the Lender’s consent to this Amendment, and
  does not constitute a commitment to provide any portion of the Additional
  Term Loans. Any such commitment would be expressed in a separate commitment
  letter or other written agreement.

  

 

 

 

S-42

 

	
   

  	
  AIB Debt Management Limited

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ MARGARET BRENNAN

  
	
   

  	
  Name:

  	
  Margaret Brennan

  
	
   

  	
  Title: 

  	
  Senior Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/ GREGORY J. WISKE

  
	
   

  	
   

  	
  Gregory J. Wiske

  
	
   

  	
   

  	
  Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  The Lender’s execution of
  this Amendment signifies only the Lender’s consent to this Amendment, and
  does not constitute a commitment to provide any portion of the Additional
  Term Loans. Any such commitment would be expressed in a separate commitment
  letter or other written agreement.

  

 

 

 

S-43

 

	
   

  	
  ING SENIOR INCOME FUND

  
	
   

  	
  By:

  	
  ING Investment Management Co.

  as its investment manager

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ BRIAN S. HORTON

  
	
   

  	
  Narne:

  	
  Brian S. Horton

  
	
   

  	
  Title:

  	
  Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  The Lender’s execution of
  this Amendment signifies only the Lender’s consent to this Amendment, and
  does not constitute a commitment to provide any portion of the Additional
  Term Loans. Any such commitment would be expressed in a separate commitment
  letter or other written agreement.

  
	
   

  	
   

  	
   

  
				

 

 

 

S-44

 

	
   

  	
  ULT CBNA Loan Fauding LLC, for
  itself or

  
	
   

  	
  as agent for ULT CFPI Loan
  Funding LLC.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ BEATA KONOPKO

  
	
   

  	
  Name:

  	
  BEATA KONOPKO

  
	
   

  	
  Title:

  	
  AS ATTORNEY-IN-FACT

  
	
   

  	
   

  	
   

  
	
   

  	
  The Tender’s execution of
  this Amendment signifies only the Lender’s consent to this Amendment, and
  does not constitute a commitment to provide any portion of the Additional
  Term Loans. Any such commitment would be expressed in a separate commitment
  letter or other written agreement.

  
	
   

  	
   

  	
   

  
				

 

 

 

S-45

 

	
   

  	
  [NAME OF LENDER]

  
	
   

  	
  Whitehorse II Ltd.

  
	
   

  	
   

  
	
   

  	
  By:

  	
  Whitehorse Capital
  Partners LP

  
	
   

  	
   

  	
  as Collateral manager.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ ETHAN UNDERWOOD

  
	
   

  	
  Name:

  	
  Ethan Underwood

  
	
   

  	
  Title:

  	
  Portfolio Manager

  
	
   

  	
   

  	
   

  
	
   

  	
  The Lender’s execution of
  this Amendment signifies only the Lender’s consent to this Amendment, and
  does not constitute a commitment to provide any portion of the Additional
  Term Loans. Any such commitment would be expressed in a separate commitment
  letter or other written agreement.

  

 

 

 

S-46

 

	
   

  	
  [NAME OF LENDER]

  
	
   

  	
  Lincoln National Life Insurance
  Company

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ ROSANNE KROPP

  
	
   

  	
  Name:

  	
  Rosanne Kropp

  
	
   

  	
  Title:

  	
  Vice President, Portfolio
  Manager

  
	
   

  	
   

  	
   

  
	
   

  	
  The Lender’s execution of
  this Amendment signifies only the Lender’s consent to this Amendment, and
  does not constitute a commitment to provide any portion of the Additional
  Term Loans. Any such commitment would be expressed in a separate commitment
  letter or other written agreement.

  

 

 

 

S-47

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00106-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00106-of-00352.parquet"}]]