Document:

exv4w23

EXHIBIT 4.23

IMAX CORPORATION

SIXTEENTH SUPPLEMENTAL INDENTURE

          Sixteenth Supplemental Indenture (this “Sixteenth Supplemental Indenture”), dated as of August
10, 2009 among IMAX Corporation, a corporation incorporated under the federal laws of Canada (the
“Company”), the Guarantors named in the Indenture referred to below (the “Existing Guarantors”),
the First Supplemental Guarantors named in the Supplemental Indenture referred to below, the Second
Supplemental Guarantor named in the Second Supplemental Indenture referred to below, the Fifth
Supplemental Guarantor named in the Fifth Supplemental Indenture referred to below, the Sixth
Supplemental Guarantor named in the Sixth Supplemental Indenture referred to below, the Seventh
Supplemental Guarantor named in the Seventh Supplemental Indenture referred to below, the Eighth
Supplemental Guarantor named in the Eighth Supplemental Indenture referred to below, the Tenth
Supplemental Guarantor named in the Tenth Supplemental Indenture referred to below, the Eleventh
Supplemental Guarantors named in the Eleventh Supplemental Indenture referred to below, the
Fourteenth Supplemental Guarantor named in the Fourteenth Supplemental Indenture referred to below,
the Fifteenth Supplemental Guarantors named in the Fifteenth Supplemental Indenture referred to
below, 7214316 Canada Ltd. (the “Guaranteeing Subsidiary”) and U.S. Bank National Association, as
trustee under the Indenture referred to below (the “Trustee”).

W I T N E S S E T H

          WHEREAS, the Company and the Existing Guarantors have heretofore executed and delivered to the
Trustee an indenture (the “Indenture”), dated as of December 4, 2003, as amended by the First
Supplemental Indenture dated as of April 1, 2004 among the Company, the Existing Guarantors, 3D Sea
II Ltd. and Taurus-Littrow Productions Inc. (the “First Supplemental Guarantors”) and the Trustee
(the “First Supplemental Indenture”), as further amended by the Second Supplemental Indenture dated
as of July 14, 2004 among the Company, the Existing Guarantors, the First Supplemental Guarantors
and Big Engine Films Inc. (the “Second Supplemental Guarantor”) and the Trustee (the “Second
Supplemental Indenture”), as further amended by the Third Supplemental Indenture dated as of
February 2, 2005 among the Company, the Existing Guarantors, the First Supplemental Guarantors, the
Second Supplemental Guarantor and Automation Productions Ltd. (the “Third Supplemental Guarantor”)
and the Trustee (the “Third Supplemental Indenture”), as further amended by the Fourth Supplemental
Indenture dated as of April 10, 2006 among the Company, the Existing Guarantors, the First
Supplemental Guarantors, the Second Supplemental Guarantor, Conversion Films Ltd., Feathered Films
Ltd. and Great Ant Productions Ltd. (the “Fourth Supplemental Guarantors”) and the Trustee (the
“Fourth Supplemental Indenture”), as further amended by the Fifth Supplemental Indenture dated as
of June 19, 2006 among the Company, the Existing Guarantors, the First Supplemental Guarantors, the
Second Supplemental Guarantor, the Fourth Supplemental Guarantors, Acorn Rain Productions Ltd. (the
“Fifth Supplemental Guarantor”) and the Trustee (the “Fifth Supplemental Indenture”), as further
amended by the Sixth Supplemental Indenture dated as of November 9, 2006 among the Company, the
Existing Guarantors, the First Supplemental Guarantors, the Second Supplemental Guarantor, the
Fourth Supplemental Guarantors, the Fifth Supplemental Guarantor, Walking Bones Pictures Ltd. (the
“Sixth Supplemental Guarantor”) and the Trustee (the “Sixth Supplemental Indenture”), as further
amended by the Seventh Supplemental Indenture dated as of January 29, 2007 among the Company, the
Existing Guarantors, the First Supplemental Guarantors, the Second Supplemental Guarantor, the
Fourth Supplemental Guarantors, the Fifth Supplemental Guarantor, the Sixth Supplemental Guarantor,
Raining Arrows Productions Ltd. (the “Seventh Supplemental Guarantor”) and the Trustee (the
“Seventh Supplemental Indenture”), as further amended by the Eighth Supplemental Indenture dated as
of March 26, 2007 among the Company, the Existing Guarantors, the First Supplemental Guarantors,
the Second Supplemental Guarantor, the Fourth Supplemental Guarantors, the Fifth Supplemental
Guarantor, the Sixth

 

 

Supplemental Guarantor, the Seventh Supplemental Guarantor, Coral Sea Films Ltd. (the “Eighth
Supplemental Guarantor”) and the Trustee (the “Eighth Supplemental Indenture”), as further amended
by the Ninth Supplemental Indenture dated as of April 16, 2007 among the Company, the Existing
Guarantors, the First Supplemental Guarantors, the Second Supplemental Guarantor, the Fourth
Supplemental Guarantors, the Fifth Supplemental Guarantor, the Sixth Supplemental Guarantor, the
Seventh Supplemental Guarantor, the Eighth Supplemental Guarantor and the Trustee (the “Ninth
Supplemental Indenture”), as further amended by the Tenth Supplemental Indenture dated as of May
30, 2007 among the Company, the Existing Guarantors, the First Supplemental Guarantors, the Second
Supplemental Guarantor, the Fourth Supplemental Guarantors, the Fifth Supplemental Guarantor, the
Sixth Supplemental Guarantor, the Seventh Supplemental Guarantor, the Eighth Supplemental
Guarantor, IMAX International Sales Corporation (the “Tenth Supplemental Guarantor”) and the
Trustee (the “Tenth Supplemental Indenture”), as further amended by the Eleventh Supplemental
Indenture dated as of September 20, 2007 among the Company, the Existing Guarantors, the First
Supplemental Guarantors, the Second Supplemental Guarantor, the Fourth Supplemental Guarantors, the
Fifth Supplemental Guarantor, the Sixth Supplemental Guarantor, the Seventh Supplemental Guarantor,
the Eighth Supplemental Guarantor, the Tenth Supplemental Guarantor, IMAX Space Productions Ltd.,
6822967 Canada Ltd. and 3183 Films Ltd. (the “Eleventh Supplemental Guarantors”) and the Trustee
(the “Eleventh Supplemental Indenture”), as further amended by the Twelfth Supplemental Indenture
dated as of November 20, 2007 among the Company, the Existing Guarantors, the First Supplemental
Guarantors, the Second Supplemental Guarantor, the Fourth Supplemental Guarantors, the Fifth
Supplemental Guarantor, the Sixth Supplemental Guarantor, the Seventh Supplemental Guarantor, the
Eighth Supplemental Guarantor, the Tenth Supplemental Guarantor, the Eleventh Supplemental
Guarantors and 6861806 Canada Ltd. (the “Twelfth Supplemental Guarantor”) and the Trustee (the
“Twelfth Supplemental Indenture”), as further amended by the Thirteenth Supplemental Indenture
dated as of February 25, 2008 among the Company, the Existing Guarantors, the First Supplemental
Guarantors, the Second Supplemental Guarantor, the Fourth Supplemental Guarantors, the Fifth
Supplemental Guarantor, the Sixth Supplemental Guarantor, the Seventh Supplemental Guarantor, the
Eighth Supplemental Guarantor, the Tenth Supplemental Guarantor, the Eleventh Supplemental
Guarantors, the Twelfth Supplemental Guarantor and Nellcote Pictures Ltd. (the “Thirteenth
Supplemental Guarantor”) and the Trustee (the “Thirteenth Supplemental Indenture”), as further
amended by the Fourteenth Supplemental Indenture dated as of June 11, 2008 among the Company, the
Existing Guarantors, the First Supplemental Guarantors, the Second Supplemental Guarantor, the
Fourth Supplemental Guarantors, the Fifth Supplemental Guarantor, the Sixth Supplemental Guarantor,
the Seventh Supplemental Guarantor, the Eighth Supplemental Guarantor, the Tenth Supplemental
Guarantor, the Eleventh Supplemental Guarantors, the Twelfth Supplemental Guarantor, the Thirteenth
Supplemental Guarantor and The Deep Magic Company Ltd. (the “Fourteenth Supplemental Guarantor”)
and the Trustee (the “Fourteenth Supplemental Indenture”), and as further amended by the Fifteenth
Supplemental Indenture dated as of February 9, 2009 among the Company, the Existing Guarantors, the
First Supplemental Guarantors, the Second Supplemental Guarantor, the Fifth Supplemental Guarantor,
the Sixth Supplemental Guarantor, the Seventh Supplemental Guarantor, the Eighth Supplemental
Guarantor, the Tenth Supplemental Guarantor, the Eleventh Supplemental Guarantors, the Fourteenth
Supplemental Guarantor, 71
03077 Canada Ltd., 7109857 Canada Ltd. and Arizona Big Frame Theatres,
L.L.C. (the “Fifteenth Supplemental Guarantors”) and the Trustee (the “Fifteenth Supplemental
Indenture”) providing for the issuance of
95/8% Senior Notes due 2010 (the “Securities”);

          WHEREAS, IMAX Sandde Animation Inc., one of the Existing Guarantors, was dissolved on February
8, 2005, the Third Supplemental Guarantor was dissolved on December 31, 2005, Miami Theatre LLC,
one of the Existing Guarantors, was dissolved on June 29, 2007, and IMAX Theatre Management
(Scottsdale), Inc., one of the Existing Guarantors, was dissolved on December 28, 2007, and each is
therefore no longer a Guarantor;

          WHEREAS, the name of the Fifth Supplemental Guarantor was changed from Acorn Rain Productions
Ltd. to Ruth Quentin Films Ltd. on January 29, 2008;

 

 

          WHEREAS, the name of 924689 Ontario Inc., one of the Existing Guarantors, was changed to
7096291 Canada Ltd. on December 18, 2008, the name of IMAX (Titanica) Ltd., one of the Existing
Guarantors, was changed to 7096194 Canada Ltd. on December 18, 2008, and the name of 3D Sea II
Ltd., one of the First Supplemental Guarantors, was changed to 7096267 Canada Ltd. on December 18,
2008.

          WHEREAS, 7096216 Canada Ltd. (formerly Parker Pictures Ltd.), one of the Existing Guarantors,
Tantus Films Ltd., one of the Existing Guarantors, 7096259 Canada Ltd. (formerly Tantus II Films
Ltd.), one of the Existing Guarantors, 7096224 Canada Ltd. (formerly RPM Pictures Ltd.), one of the
Existing Guarantors, the Fourth Supplemental Guarantors, 3183 Films Ltd., one of the Eleventh
Supplemental Guarantors, the Twelfth Supplemental Guarantor and the Thirteenth Supplemental
Guarantor were amalgamated into 3183 Films Ltd., one of the Eleventh Supplemental Guarantors, on
January 1, 2009;

          WHEREAS, the Indenture provides that under certain circumstances each Guaranteeing Subsidiary
shall execute and deliver to the Trustee a supplemental indenture pursuant to which any
newly-acquired or created Guarantor shall unconditionally guarantee all of the Company’s
obligations under the Securities and the Indenture on the terms and conditions set forth herein
(the “Subsidiary Guarantee”); and

          WHEREAS, pursuant to Section 901 of the Indenture, the Trustee is authorized to execute and
deliver this Sixteenth Supplemental Indenture;

          NOW THEREFORE, in consideration of the foregoing and for other good and valuable
consideration, the receipt of which is hereby acknowledged, the Guaranteeing Subsidiary and the
Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the
Securities as follows:

          1. Capitalized Terms. Capitalized terms used herein without definition shall have the
meanings assigned to them in the Indenture.

          2. Agreement to Guarantee. The Guaranteeing Subsidiary irrevocably and unconditionally
guarantees the Guarantee Obligations, which include (i) the due and punctual payment of the
principal of, premium, if any, and interest and Special Interest, if any, on the Securities,
whether at maturity, by acceleration, redemption, upon a Change of Control Offer, upon an Asset
Sale Offer or otherwise, the due and punctual payment of interest on the overdue principal and
premium, if any, and (to the extent permitted by law) interest on any interest on the Securities,
and payment of expenses, and the due and punctual performance of all other obligations of the
Company, to the Holders or the Trustee all in accordance with the terms set forth in Article XIII
of the Indenture, and (ii) in case of any extension of time of payment or renewal of any Securities
or any such other obligations, that the same will be promptly paid in full when due or performed in
accordance with the terms of the extension or renewal, whether at stated maturity, by acceleration,
redemption, upon a Change of Control Offer, upon an Asset Sale Offer or otherwise.

          The obligations of the Guaranteeing Subsidiary to the Holders and to the Trustee pursuant to
this Subsidiary Guarantee and the Indenture are expressly set forth in Article XIII of the
Indenture and reference is hereby made to such Indenture for the precise terms of this Subsidiary
Guarantee.

          No past, present or future director, officer, partner, manager, employee, incorporator or
stockholder (direct or indirect) of the Guaranteeing Subsidiary (or any such successor entity), as
such, shall have any liability for any obligations of such Guaranteeing Subsidiary under this
Subsidiary Guarantee or the Indenture or for any claim based on, in respect of, or by reason of,
such obligations or their creation, except in their capacity as an obligor or Guarantor of the
Securities in accordance with the Indenture.

 

 

          This is a continuing Guarantee and shall remain in full force and effect and shall be binding
upon the Guaranteeing Subsidiary and its successors and assigns until full and final payment of all
of the Company’s obligations under the Securities and Indenture or until released in accordance
with the Indenture and shall inure to the benefit of the successors and assigns of the Trustee and
the Holders, and, in the event of any transfer or assignment of rights by any Holder or the
Trustee, the rights and privileges herein conferred upon that party shall automatically extend to
and be vested in such transferee or assignee, all subject to the terms and conditions hereof. This
is a Guarantee of payment and not of collectibility.

          The obligations of the Guaranteeing Subsidiary under its Subsidiary Guarantee shall be limited
to the extent necessary to insure that it does not constitute a fraudulent conveyance under
applicable law.

          THE TERMS OF ARTICLE XIII OF THE INDENTURE ARE INCORPORATED HEREIN BY REFERENCE.

          3. NEW YORK LAW TO GOVERN. THE LAWS OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO
CONSTRUE THIS SIXTEENTH SUPPLEMENTAL INDENTURE.

          4. Counterparts. The parties may sign any number of copies of this Sixteenth Supplemental
Indenture. Each signed copy shall be an original, but all of them together represent the same
agreement.

          5. Effect of Headings. The Section headings herein are for convenience only and shall not
affect the construction hereof.

          IN WITNESS WHEREOF, the parties hereto have caused this Sixteenth Supplemental Indenture to be
duly executed and attested, all as of the date first above written.

	 	 	 	 	 
	 	IMAX Corporation

 	 
	 	By  	/s/ G. Mary Ruby
 	 
	 	Name:  	G. Mary Ruby 	 
	 	Title:  	Executive Vice President, Corporate Services
and Corporate Secretary 	 
	 
	 	 	 
	 	By  	           /s/ Edward MacNeil
 	 
	 	Name:  	Edward MacNeil 	 
	 	Title:  	Sr. Vice President, Finance 	 
	 
	 	 Existing Guarantors:

David Keighley Productions 70MM Inc.

IMAX II U.S.A. Inc.

IMAX Chicago Theatre LLC

          By its Managing Member

          IMAX Theatre Holding (California I) Co.

IMAX Minnesota Holding Co.

IMAX Rhode Island Limited Partnership

 	 
	 	 	 
	 	 	 
	 	 	 
	 

 

 

	 	 	 	 	 
	 	          By its General Partner

          IMAX Providence General Partner Co.

IMAX Scribe Inc.

IMAX Space Ltd.

IMAX Theatre Holding Co.

IMAX Theatre Holdings (OEI) Inc.

IMAX Theatre Management Company

IMAX Theatre Services Ltd.

IMAX U.S.A. Inc.

Nyack Theatre LLC

          By its Managing Member

          IMAX Theatre Holding (Nyack I) Co.

Ridefilm Corporation

Sacramento Theatre LLC

          By its Managing Member

          IMAX Theatre Holding (California I) Co.

Sonics Associates, Inc.

Starboard Theatres Ltd.

1329507 Ontario Inc.

7096291 Canada Ltd.

7096194 Canada Ltd.

IMAX (Titanic) Inc.

IMAX Music Ltd.

IMAX Film Holding Co.

IMAX Indianapolis LLC

IMAX Providence General Partner Co.

IMAX Providence Limited Partner Co.

IMAX Theatre Holding (California I) Co.

IMAX Theatre Holding (California II) Co.

IMAX Theatre Holding (Nyack I) Co.

IMAX Theatre Holding (Nyack II) Co.

Strategic Sponsorship Corporation

 	 
	 	By  	/s/ G. Mary Ruby
 	 
	 	Name:  	G. Mary Ruby 	 
	 	Title:  	Secretary 	 
	 
	 	 	 
	 	By  	       /s/ Edward MacNeil
 	 
	 	Name:  	Edward MacNeil 	 
	 	Title:  	Vice President 	 
	 
	 	First Supplemental Guarantors:

Taurus-Littrow Productions Inc.

7096267 Canada Ltd.

 	 
	 	 	 
	 	 	 
	 	 	 
	 

 

 

	 	 	 	 	 
	 	 	 
	 	By  	                        /s/ G. Mary Ruby
 	 
	 	Name:  	G. Mary Ruby 	 
	 	Title:  	Secretary 	 
	 
	 	 	 
	 	By  	                        /s/ Edward MacNeil
 	 
	 	Name:  	Edward MacNeil 	 
	 	Title:  	Vice President 	 
	 

 

 

	 	 	 	 	 
	 	Second Supplemental Guarantor:

Big Engine Films Inc.

 	 
	 	By  	/s/ G. Mary Ruby
 	 
	 	Name:  	G. Mary Ruby 	 
	 	Title:  	Secretary 	 
	 
	 	 	 
	 	By  	                    /s/ Edward MacNeil
 	 
	 	Name:  	Edward MacNeil 	 
	 	Title:  	Vice President 	 
	 
	 	Fifth Supplemental Guarantor:

Ruth Quentin Films Ltd.

 	 
	 	By  	/s/ G. Mary Ruby
 	 
	 	Name:  	G. Mary Ruby 	 
	 	Title:  	Secretary 	 
	 
	 	 	 
	 	By  	                    /s/ Edward MacNeil
 	 
	 	Name:  	Edward MacNeil 	 
	 	Title:  	Vice President 	 
	 

 

 

	 	 	 	 	 
	 	Sixth Supplemental Guarantor:

Walking Bones Pictures Ltd.

 	 
	 	By  	/s/ G. Mary Ruby
 	 
	 	Name:  	G. Mary Ruby 	 
	 	Title:  	Secretary 	 
	 
	 	 	 
	 	By  	                    /s/ Edward MacNeil
 	 
	 	Name:  	Edward MacNeil 	 
	 	Title:  	Vice President 	 
	 
	 	Seventh Supplemental Guarantor:

Raining Arrows Productions Ltd.

 	 
	 	By  	/s/ G. Mary Ruby
 	 
	 	Name:  	G. Mary Ruby 	 
	 	Title:  	Secretary 	 
	 
	 	 	 
	 	By  	                   /s/ Edward MacNeil
 	 
	 	Name:  	Edward MacNeil 	 
	 	Title:  	Vice President 	 
	 
	 	Eighth Supplemental Guarantor:

Coral Sea Films Ltd.

 	 
	 	By  	/s/ G. Mary Ruby
 	 
	 	Name:  	G. Mary Ruby 	 
	 	Title:  	Secretary 	 
	 
	 	 	 
	 	By  	                    /s/ Edward MacNeil
 	 
	 	Name:  	Edward MacNeil 	 
	 	Title:  	Vice President 	 
	 

 

 

	 	 	 	 	 
	 	Tenth Supplemental Guarantor:

IMAX International Sales Corporation

 	 
	 	By  	/s/ G. Mary Ruby
 	 
	 	Name:  	G. Mary Ruby 	 
	 	Title:  	Secretary 	 
	 
	 	 	 
	 	By  	                  /s/ Edward MacNeil
 	 
	 	Name:  	Edward MacNeil 	 
	 	Title:  	Vice President 	 
	 
	 	Eleventh Supplemental Guarantors:

IMAX Space Productions Ltd.

6822967 Canada Ltd.

3183 Films Ltd.

 	 
	 	By  	/s/ G. Mary Ruby
 	 
	 	Name:  	G. Mary Ruby 	 
	 	Title:  	Secretary 	 
	 
	 	 	 
	 	By  	                   /s/ Edward MacNeil
 	 
	 	Name:  	Edward MacNeil 	 
	 	Title:  	Vice President 	 
	 

 

 

	 	 	 	 	 
	 	Fourteenth Supplemental Guarantor:

The Deep Magic Company Ltd.

 	 
	 	By  	/s/ G. Mary Ruby
 	 
	 	Name:  	G. Mary Ruby 	 
	 	Title:  	Secretary 	 
	 
	 	 	 
	 	By  	                   /s/ Edward MacNeil
 	 
	 	Name:  	Edward MacNeil 	 
	 	Title:  	Vice President 	 
	 
	 	Fifteenth Supplemental Guarantors:

7103077 Canada Ltd.

7109857 Canada Ltd.

Arizona Big Frame Theatres, L.L.C.

 	 
	 	By  	/s/ G. Mary Ruby
 	 
	 	Name:  	G. Mary Ruby 	 
	 	Title:  	Secretary 	 
	 
	 	 	 
	 	By  	                   /s/ Edward MacNeil
 	 
	 	Name:  	Edward MacNeil 	 
	 	Title:  	Vice President 	 
	 

 

 

	 	 	 	 	 
	 	Guaranteeing Subsidiary:

7214316 Canada Ltd.

 	 
	 	By  	/s/ G. Mary Ruby
 	 
	 	Name:  	G. Mary Ruby 	 
	 	Title:  	Secretary 	 
	 
	 	 	 
	 	By  	                     /s/ Edward MacNeil
 	 
	 	Name:  	Edward MacNeil 	 
	 	Title:  	Vice President 	 
	 

 

 

	 	 	 	 	 
	 	Trustee:

U.S. Bank National Association,

          As Trustee

 	 
	 	By:  	/s/ Lawrence J. Bell
 	 
	 	Name:  	Lawrence J. Bell 	 
	 	Title:  	Vice Presidentexv10w1

Exhibit 10.1

EXECUTION COPY

AMENDMENT NO. 3

TO

RECEIVABLES PURCHASE AGREEMENT

          THIS AMENDMENT NO. 3 TO RECEIVABLES PURCHASE AGREEMENT (this “Amendment”), dated as of
August 17, 2009, is entered into among HBI RECEIVABLES LLC, as seller (“Seller”),
HANESBRANDS INC., in its capacity as servicer (in such capacity, the “Servicer”), the
Committed Purchasers party hereto, the Conduit Purchasers party hereto, the Managing Agents party
hereto, and HSBC SECURITIES (USA) INC. (“HSBC”), as assignee of JPMORGAN CHASE BANK, N.A.,
as agent (in such capacity, the “Agent”). Capitalized terms used herein without definition
shall have the meanings ascribed thereto in the “Purchase Agreement” referred to below.

PRELIMINARY STATEMENTS

          A. Reference is made to that certain Receivables Purchase Agreement dated as of November 27,
2007 among Seller, Servicer, the Committed Purchasers, the Conduit Purchasers and the Agent (as
amended prior to the date hereof and as the same may be further amended, restated, supplemented or
modified from time to time, the “Purchase Agreement”).

          B. For good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto have agreed to amend certain provisions of the Purchase Agreement
upon the terms and conditions set forth herein.

     SECTION 1. Amendment. Subject to the satisfaction of the conditions precedent set
forth in Section 3 hereof, the parties hereto hereby agree to amend the Purchase Agreement
as follows:

     (a) Exhibit I to the Purchase Agreement is hereby amended to delete the
definitions of “Default Ratio” and “Loss-to-Liquidation Ratio” and replace
them with the following:

     "Default Ratio” means, at any time, a percentage equal to (i) the
sum of (a) the aggregate Outstanding Balance of all Receivables that became
Charged-Off Receivables (other than the Charged-Off Receivables as described in
clause (i) of the definition thereof) during the most recently ended Calendar
Month that were less than 61 days past the original due date and (b) the
aggregate Outstanding Balance of all Receivables as to which (A) any payment, or
part thereof, remains unpaid for 61 days to 90 days past the original due date
as of the last day of such Calendar Month and (B) did not become Charged-Off
Receivables (other than the Charged-Off Receivables as described in clause (i)
of the definition thereof) prior to the day that was 61 days past the original
due date, divided by (ii) the aggregate Original Balance of all Receivables
generated by Originator during the Calendar Month ending three (3) Calendar
Months prior to such Calendar Month.

 

 

     "Loss-to-Liquidation Ratio” means, at any time, a percentage equal
to (i) the sum of (A) the aggregate Outstanding Balance of all Receivables that
became Charged-Off Receivables (other than the Charged-Off Receivables as
described in clause (i) of the definition thereof) during the most recently
ended Calendar Month that were not also Delinquent Receivables as of the date
that such Receivables became Charged-Off Receivables (other than the Charged-Off
Receivables as described in clause (i) of the definition thereof) and (B) the
aggregate Outstanding Balance of all Delinquent Receivables that were not also
Defaulted Receivables as of the last day of such Calendar Month divided by (ii)
the aggregate amount of Collections during such Calendar Month.

     SECTION 2. Representations and Warranties. Each of the Seller and the Servicer
hereby represents and warrants to each of the other parties hereto, as to itself that:

     (a) It has all necessary corporate or company power and authority to execute and
deliver this Amendment and to perform its obligations under the Purchase Agreement as
amended hereby, the execution and delivery of this Amendment and the performance of its
obligations under the Purchase Agreement as amended hereby has been duly authorized by all
necessary corporate or company action on its part and this Amendment constitutes its legal,
valid and binding obligation, enforceable against it in accordance with its terms, except as
such enforcement may be limited by applicable bankruptcy, insolvency, reorganization or
other similar laws relating to or limiting creditors’ rights generally and by general
principles of equity (regardless of whether enforcement is sought in a proceeding in equity
or at law).

     (b) On the date hereof, before and after giving effect to this Amendment, (i) no
Amortization Event or Potential Amortization Event has occurred and is continuing and (ii)
the aggregate Purchaser Interests do not exceed 100%.

     SECTION 3. Conditions Precedent; Retroactive Effect. This Amendment shall become
effective on the first Business Day (the “Effective Date”) on which the Agent or its
counsel has received five (5) counterpart signature pages to each of this Amendment executed by
each of the parties hereto. Notwithstanding anything to the contrary herein or in the Purchase
Agreement, once this Amendment becomes effective, it shall be deemed effective as of November 27,
2007, and, for all purposes and for all periods from and after November 27, 2007, the terms
“Default Ratio” and “Loss-to-Liquidation Ratio” shall be deemed to have been accurately calculated
to the extent calculated as set forth herein.

     SECTION 4. Reference to and Effect on the Transaction Documents.

     (a) Upon the effectiveness of this Amendment, (i) each reference in the Purchase
Agreement to “this Receivables Purchase Agreement”, “this Agreement”, “hereunder”, “hereof”,
“herein” or words of like import shall mean and be a reference to the Purchase Agreement as
amended or otherwise modified hereby, and (ii) each reference to the Purchase Agreement in
any other Transaction Document or any other document, instrument or agreement executed
and/or delivered in connection therewith,

2

 

shall mean and be a reference to the Purchase Agreement as amended or otherwise
modified hereby.

     (b) Except as specifically amended, terminated or otherwise modified above, the terms
and conditions of the Purchase Agreement, of all other Transaction Documents and any other
documents, instruments and agreements executed and/or delivered in connection therewith,
shall remain in full force and effect and are hereby ratified and confirmed.

     (c) The execution, delivery and effectiveness of this Amendment shall not operate as a
waiver of any right, power or remedy of the Agent or any Purchaser under the Purchase
Agreement or any other Transaction Document or any other document, instrument or agreement
executed in connection therewith, nor constitute a waiver of any provision contained
therein.

     SECTION 5. Execution in 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 to be an original and all of which taken together shall
constitute but one and the same instrument. Delivery of an executed counterpart of a signature
page to this Amendment by facsimile or other electronic format shall be effective as delivery of a
manually executed counterpart of this Amendment.

     SECTION 6. Governing Law. THIS AMENDMENT SHALL BE GOVERNED AND CONSTRUED IN
ACCORDANCE WITH THE INTERNAL LAWS (AND NOT THE LAW OF CONFLICTS) OF THE STATE OF NEW YORK.

     SECTION 7. Headings. Section 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.

     SECTION 8. Fees and Expenses. Seller hereby confirms its agreement to pay on demand
all reasonable costs and expenses of the Agent, the Managing Agents or Purchasers in connection
with the preparation, execution and delivery of this Amendment and any of the other instruments,
documents and agreements to be executed and/or delivered in connection herewith, including, without
limitation, the reasonable fees and out-of-pocket expenses of counsel to the Agent or Purchasers
with respect thereto.

[Remainder of Page Deliberately Left Blank]

3

 

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

	 	 	 	 	 
	 

	 	HBI RECEIVABLES LLC
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Richard D. Moss
	 

	 	 	 	 
	 

	 	 	 	Name: Richard D. Moss

Title: President and Chief Executive Officer
	 
	 	 	 	 
	 

	 	HANESBRANDS INC., as Servicer
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Richard D. Moss
	 

	 	 	 	 
	 

	 	 	 	Name: Richard D. Moss

Title:   Senior Vice President and Treasurer

Signature Page

to

Amendment No. 3 to RPA

 

	 	 	 	 	 
	 

	 	BRYANT PARK FUNDING LLC, as a Conduit Purchaser
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Damian A. Perez
	 

	 	 	 	 
	 

	 	 	 	Name: Damian A. Perez

Title:   Vice President
	 
	 	 	 	 
	 

	 	HSBC SECURITIES
(USA) Inc., as a Managing Agent
and Agent
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Suzanna Baird
	 

	 	 	 	 
	 

	 	 	 	Name: Suzanna Baird

Title:   Vice President
	 
	 	 	 	 
	 

	 	HSBC BANK USA, NATIONAL
ASSOCIATION, as a
Committed Purchaser
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Catherine Dong
	 

	 	 	 	 
	 

	 	 	 	Name: Catherine Dong

Title:   ID #15811

Signature Page

to

Amendment No. 3 to RPA

 

	 	 	 	 	 
	 

	 	MARKET STREET FUNDING LLC, as a Conduit Purchaser
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Doris J. Hearn
	 

	 	 	 	 
	 

	 	 	 	Name: Doris J. Hearn

Title:   Vice President
	 
	 	 	 	 
	 

	 	PNC BANK, N.A., as a
Committed Purchaser and as a
Managing Agent
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Robyn A. Reeher
	 

	 	 	 	 
	 

	 	 	 	Name: Robyn A. Reeher

Title:   Vice President

Signature Page

to

Amendment No. 3 to RPA

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00164-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00164-of-00352.parquet"}]]