Document:

Exhibit 10.1

Exhibit 10.1

AMENDMENT NO. 4

TO

AMENDED & RESTATED FINANCING AGREEMENT

This Amendment No. 4 to Amended & Restated Financing Agreement (this “Amendment No.
4”) is entered into as of May 13, 2010, by and among G-III Leather Fashions, Inc., a New York
corporation (“G-III Inc.”), J. Percy for Marvin Richards, Ltd., a New York corporation
(“JPMR”), CK Outerwear, LLC, a New York limited liability company (“CKO”), A. Marc
& Co., Inc., a New York corporation (“AMC”), Andrew & Suzanne Company Inc., a New York
corporation (“A&S”), AM Retail Group, Inc., a Delaware corporation (“AMRGI”, and
together with G-III Inc., JPMR, CKO, AMC and A&S, individually a “Company” and
collectively, the “Companies”), JPMorgan Chase Bank N.A. (“JPMC”), The CIT
Group/Commercial Services, Inc., a New York corporation (“CIT”) (JPMC, CIT and the other
financial institutions which are now or hereafter become a party to the Financing Agreement (as
hereafter defined) each a “Lender” and collectively, “Lenders”), and JPMC, as
successor agent to CIT, as agent for Lenders (JPMC, in such capacity, “Agent”).

BACKGROUND

The Companies, Agent and Lenders are parties to an Amended and Restated Financing Agreement,
dated as of April 3, 2008 (as amended by Joinder and Amendment No. 1 to Amended and Restated
Financing Agreement dated as of July 21, 2008, Amendment No. 2 to Amended and Restated Financing
Agreement dated as of April 20, 2009, Amendment No. 3 to Amended & Restated Financing Agreement
dated as of August 31, 2009, and as further amended, restated, modified and/or supplemented from
time to time, the “Financing Agreement”) pursuant to which Agent and Lenders provide the
Companies with certain financial accommodations.

The Companies have requested Agent and Lenders to (a) extend the Termination Date set forth in
the Financing Agreement from July 11, 2011 to July 31, 2013, (b) increase the Line of Credit from
$250,000,000 to $300,000,000, (c) lower the interest rates applicable to the Loans by one-quarter
of one percent (0.25%) and (d) make certain other modifications to the Financing Agreement. Agent
and Lenders are willing to agree to such extension, increase the Line of Credit, lower the interest
rates and amend certain of the terms of the Financing Agreement, all as hereinafter set forth.

NOW, THEREFORE, in consideration of any loan or advance or grant of credit heretofore or
hereafter made to or for the account of the Companies by Agent and Lenders, and for other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties
hereto hereby agree as follows:

1. Definitions. All capitalized terms not otherwise defined herein shall have the
meanings given to them in the Financing Agreement.

2. Amendments to Financing Agreement. Subject to satisfaction of the conditions
precedent set forth in Section 3 below, the Financing Agreement is hereby amended as follows:

 

 

 

(a) Section 1.1 of the Financing Agreement is hereby amended by inserting a definition for the
new term “Net Equity Raised and Retained”, in its appropriate alphabetical order, to provide as
follows:

Net Equity Raised and Retained shall mean an amount equal to (a) 100% of the
net cash proceeds from the sale of equity securities by Parent at any time during
the period from November 1, 2009 through the Termination Date minus (b) any
Permitted Distributions during the period from the date such equity securities are
issued through the date of the applicable acquisition and minus (c) any “net
cash losses” sustained by Parent and its Subsidiaries during the period from the
date such equity securities are issued through the date of the applicable
acquisition. For purposes of this definition, “net cash losses” shall mean (x) all
earnings of Parent and its Subsidiaries on a consolidated basis for such period
before depreciation and amortization expenses minus (y) Capital
Expenditures during such period.

(b) Section 1.1 of the Financing Agreement is hereby further amended by restating the
definitions of the terms “Applicable Margin”, “Commitment”, “Line of Credit”, “Line of Credit Fee”,
“Revolving Line of Credit”, “Supplemental Amount” and “Termination Date” to provide as follows:

Applicable Margin shall mean, with respect to (a) the Revolving Loans, plus
0.50% for Chase Bank Rate Loans and 2.75% for LIBOR Loans, (b) standby Letters of
Credit, 1.50%, (c) documentary Letters of Credit, 0.125%, or (d) Bankers
Acceptances, the discount rate of JPMorgan Chase Bank, N.A. plus 2.50%.

Commitment shall mean, as to each Lender, the amount of the Commitment for
such Lender set forth (a) on the signature page to this Financing Agreement, (b) in
the Assignment and Transfer Agreement to which such Lender is a party, or (c) on the
signature page to any amendment to this Agreement executed by all Lenders, as such
amount may be reduced or increased in accordance with the provisions of Section
13.4(b) or any other applicable provision of this Financing Agreement.

Line of Credit shall mean, with the aggregate commitment of the Lenders in
an amount equal to $300,000,000 to (a) make Revolving Loans pursuant to Section
3 of this Financing Agreement, and (b) assist any Company in opening Letters of
Credit and/or Bankers Acceptances pursuant to Section 5 of this Financing
Agreement.

Line of Credit Fee shall mean, for any month, the product obtained by
multiplying (a) (i) the amount of the Revolving Line of Credit minus (ii)
the average daily principal balance of Revolving Loans and the average daily undrawn
amount of Letters of Credit, Bankers Acceptances, Steamship Guarantees and Airway
Releases outstanding during such month, times (b) one-quarter of one percent
(0.25%) per annum for the number of days in said month;
provided, however, that the Line of Credit Fee during any one year
period commencing on each April 1 and ending on the day before each anniversary
thereof shall not exceed $375,000.

 

2

 

Revolving Line of Credit shall mean the Commitments of the Lenders to make
Revolving Loans pursuant to Section 3 of this Financing Agreement and assist
the Companies in opening Letters of Credit, Bankers Acceptances, Steamship
Guarantees and Airway Releases pursuant to Section 5 of this Financing
Agreement, in an aggregate amount equal to $300,000,000.

Supplemental Amount shall mean the following amounts during the following
periods during each calendar year, in each case minus all Supplemental Amount
Reductions:

	 	 	 	 	 
	Period	 	Supplemental Amount	 
	May 1 through and including May 31
	 	$	20,000,000	 
	June 1 through and including June 30
	 	$	30,000,000	 
	July 1 through and including July 31
	 	$	35,000,000	 
	August 1 through and including September 29
	 	$	40,000,000	 
	September 30 through and including October 15
	 	$	0	 

Termination Date shall mean July 31, 2013.

(c) Clause (d) of the definition of “Permitted Distributions” appearing in Section 1.1 of the
Financing Agreement is hereby amended by inserting the following immediately prior to the words “to
fund a Special Capital Expenditure” appearing therein:

either (A) in connection with a Permitted Acquisition or (B)

(d) Paragraph 7.3(a) of the Financing Agreement is hereby amended by restating the required
Senior Leverage Ratio levels to be maintained as at the end of each fiscal quarter ending after the
date hereof, on a trailing twelve months basis, to be not greater than the following for the
applicable test period:

 

3

 

	 	 	 	 	 
	Twelve Months Ending	 	Senior Leverage Ratio	 
	April 30, 2010
	 	 	2.50 to 1.00	 
	July 31, 2010
	 	 	5.00 to 1.00	 
	October 31, 2010
	 	 	5.60 to 1.00	 
	January 31, 2011
	 	 	2.40 to 1.00	 
	April 30, 2011
	 	 	2.50 to 1.00	 
	July 31, 2011
	 	 	5.00 to 1.00	 
	October 31, 2011
	 	 	5.60 to 1.00	 
	January 31, 2012
	 	 	2.40 to 1.00	 
	April 30, 2012
	 	 	2.50 to 1.00	 
	July 31, 2012
	 	 	5.00 to 1.00	 
	October 31, 2012
	 	 	5.60 to 1.00	 
	January 31, 2013
	 	 	2.40 to 1.00	 
	April 30, 2013
	 	 	2.50 to 1.00	 

(e) Paragraph 7.4(g)(I) of the Financing Agreement is hereby amended and restated in its
entirety to provide as follows:

(I) the aggregate consideration in respect of all acquisitions contemplated
by this clause (g) shall not exceed, during the period commencing May 1,
2010 and continuing through the Termination Date, the sum of (x) $35,000,000
in cash (whether payable on or prior to the closing thereof or at any time
thereafter through and including the Termination Date, but excluding any
contingent “earn out” payments relating to such Permitted Acquisition;
provided, however, that no more than $5,000,000 of such
amount shall be available for acquisitions that are not in the same line of
business as the Companies on the Closing Date or a complementary line of
business), plus (y) an amount equal to any consideration payable in
the form of additional capital stock of Parent issued to the applicable
seller in connection with such acquisition (“Seller Issued Equity”),
plus (z) without duplication of any Seller Issued Equity, an amount
equal to any Net Equity Raised and Retained; provided,
further, that the aggregate consideration (whether cash or non-cash)
in respect of all acquisitions contemplated by this clause (g) shall not
exceed, during the term of this Agreement, the sum of $70,000,000;

(f) Paragraph 7.4(l) of the Financing Agreement is hereby deleted in its entirety.

(g) Paragraph 10.1(k) of the Financing Agreement is hereby deleted in its entirety.

3. Conditions of Effectiveness. This Amendment No. 4 shall become effective as of the
date hereof upon satisfaction of the following conditions: Agent shall have received:

(a) Fifteen (15) copies of this Amendment No. 4 duly executed by the Companies, Agent and all
Lenders, and consented to by each Guarantor;

 

4

 

(b) Payment of an amendment fee in an amount equal to 15 basis points on the aggregate amount
of the Commitments in effect immediately prior to the date hereof, for an aggregate amendment fee
of $375,000, for the ratable benefit of all Lenders, which fee shall be fully earned and
non-refundable on the effective date of this Amendment No. 4;

(c) Payment of an upfront fee in an amount equal to 25 basis points on the aggregate
$50,000,000 increase in the Commitments as of the effective date of this Amendment No. 4, for an
aggregate upfront fee of $125,000, for the ratable benefit of all Lenders increasing their
Commitment as of the effective date of this Amendment No. 4, pro rata based upon each Lender’s
respective increase, which fee shall be fully earned and non-refundable on the effective date of
this Amendment No. 4; and

(d) such other certificates, instruments, documents and agreements as may reasonably be
required by Agent or its counsel, each of which shall be in form and substance satisfactory to
Agent and its counsel.

4. Representations and Warranties. Each of the Companies hereby represents, warrants
and covenants as follows:

(a) This Amendment No. 4, the Financing Agreement and the other Loan Documents are and shall
continue to be legal, valid and binding obligations of each of Companies and Guarantors,
respectively, and are enforceable against each Company and each Guarantor in accordance with their
respective terms.

(b) Upon the effectiveness of this Amendment No. 4, each Company and each Guarantor hereby
reaffirms all covenants, representations and warranties made in the Financing Agreement and the
other Loan Documents and agrees that all such covenants, representations and warranties shall be
deemed to have been remade and are true and correct in all material respects as of the effective
date of this Amendment No. 4, after giving effect to this Amendment No. 4, provided, however, that
the information contained in the Schedules attached to the Financing Agreement continues to be
true, correct and complete as of the Closing Date, and there have been no changes to such matters
as of the date hereof except to the extent any such change would not have a Material Adverse
Effect, constitute a Default or Event or Default, or otherwise require notice to the Agent in
accordance with the terms of the Financing Agreement.

(c) Each Company and each Guarantor has the corporate or limited liability company power, and
has been duly authorized by all requisite corporate or limited liability company action, to execute
and deliver this Amendment No. 4 and to perform its obligations hereunder. This Amendment No. 4
has been duly executed and delivered by each Company and consented to by each Guarantor.

(d) Each Company has no defense, counterclaim or offset with respect to any of the Loan
Documents.

(e) The Loan Documents are in full force and effect, and are hereby ratified and confirmed.

 

5

 

(f) The recitals set forth in the Background section above are truthful and accurate and are
an operative part of this Amendment No. 4.

(g) Agent and Lenders have and will continue to have a valid first priority lien and security
interest in all Collateral except for liens permitted by the Financing Agreement, and each Company
and each Guarantor expressly reaffirms all guarantees, security interests and liens granted to
Agent and Lenders pursuant to the Loan Documents.

(h) No Defaults or Events of Default are in existence.

5. Effect of Agreement.

(a) Except as specifically modified herein, the Financing Agreement, and all 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.

(b) The execution, delivery and effectiveness of Amendment No. 4 shall not operate as a
waiver of any right, power or remedy of Agent or any Lender, nor constitute a waiver of any
provision of the Financing Agreement, or any other documents, instruments or agreements executed
and/or delivered under or in connection therewith.

6. Governing Law. This Amendment No. 4 shall be binding upon and inure to the benefit
of the parties hereto and their respective successors and assigns and shall be governed by and
construed in accordance with the laws of the State of New York.

7. Headings. Section headings in this Amendment No. 4 are included herein for
convenience of reference only and shall not constitute a part of this Amendment No. 4 for any other
purpose.

8. Counterparts; Facsimile. This Amendment No. 4 may be executed by the parties
hereto in one or more counterparts, each of which shall be deemed an original and all of which when
taken together shall constitute one and the same agreement. Any signature delivered by a party by
facsimile or other electronic transmission (including in “pdf” format) shall be deemed to be an
original signature hereto.

[signature pages follow]

 

6

 

IN WITNESS WHEREOF, this Amendment No. 4 has been duly executed as of the day and year first
written above.

	 	 	 	 	 
	 	G-III LEATHER FASHIONS, INC., as

a Company and the Funds Administrator

 	 
	 	By:  	/s/ Neal S. Nackman
 	 
	 	 	Name:  	Neal S. Nackman 	 
	 	 	Title:  	Vice President — Finance 	 
	 
	 
	 	J. PERCY FOR MARVIN RICHARDS, LTD., as a Company

 	 
	 	By:  	/s/ Neal S. Nackman
 	 
	 	 	Name:  	Neal S. Nackman 	 
	 	 	Title:  	Secretary 	 
	 
	 
	 	CK OUTERWEAR, LLC, as a Company

 	 
	 	By:  	/s/ Neal S. Nackman
 	 
	 	 	Name:  	Neal S. Nackman 	 
	 	 	Title:  	Secretary 	 
	 
	 
	 	A. MARC & CO., INC., as a Company

 	 
	 	By:  	/s/ Neal S. Nackman
 	 
	 	 	Name:  	Neal S. Nackman 	 
	 	 	Title:  	Vice President — Finance and Secretary 	 
	 
	 
	 	ANDREW & SUZANNE COMPANY INC., as a Company

 	 
	 	By:  	/s/ Neal S. Nackman
 	 
	 	 	Name:  	Neal S. Nackman 	 
	 	 	Title:  	Vice President — Finance and Secretary 	 
	 

Signature page to Amendment No. 4- 1852027

 

 

 

	 	 	 	 	 
	 	AM RETAIL GROUP, INC., as a Company

 	 
	 	By:  	/s/ Michael Brady
 	 
	 	 	Name:  	Michael Brady 	 
	 	 	Title:  	Controller and Vice President 	 
	 
	 
	 	JPMORGAN CHASE BANK, N.A., as Lender and as Agent

 	 
	 	By:  	/s/ Donna M. DiForio
 	 
	 	 	Name:  	Donna M. DiForio 	 
	 	 	Title:  	Vice President 	 
	 

Commitment:
            $42,500,000

Pro Rata Percentage: 14.168%

	 	 	 	 	 
	 	
THE CIT GROUP/COMMERCIAL SERVICES, INC., as Lender

 	 
	 	By:  	/s/ Edward J. Ahearn
 	 
	 	 	Name:  	Edward J. Ahearn 	 
	 	 	Title:  	Senior Vice President 	 
	 

Commitment:
            $15,000,000

Pro Rata Percentage: 5.000%

	 	 	 	 	 
	 	
HSBC BANK USA, NATIONAL ASSOCIATION, as Lender

 	 
	 	By:  	/s/ Michael P. Behuniak
 	 
	 	 	Name:  	Michael P. Behuniak 	 
	 	 	Title:  	 	 
	 

Commitment:
            $38,500,000

Pro Rata Percentage: 12.833%

Signature page to Amendment No. 4- 1852027

 

 

 

	 	 	 	 	 
	 	SOVEREIGN BANK, as Lender

 	 
	 	By:  	/s/ Matilda Reyes
 	 
	 	 	Name:  	Matilda Reyes 	 
	 	 	Title:  	Senior Vice President 	 
	 

Commitment:
            $30,000,000

Pro Rata Percentage: 10.000%

	 	 	 	 	 
	 	
ISRAEL DISCOUNT BANK OF NEW YORK, as Lender

 	 
	 	By:  	/s/ Irene B. Spector
 	 
	 	 	Name:  	Irene B. Spector 	 
	 	 	Title:  	Vice President 	 
	 
	 	 	 
	 	By:  	                                              /s/ George Commander
 	 
	 	 	Name:  	George Commander 	 
	 	 	Title:  	Senior Vice President 	 
	 

Commitment:
            $30,000,000

Pro Rata Percentage: 10.000%

	 	 	 	 	 
	 	
TD BANK, N.A., as Lender

 	 
	 	By:  	/s/ Evan Kraus
 	 
	 	 	Name:  	Evan Kraus 	 
	 	 	Title:  	Vice President 	 
	 

Commitment:
            $30,000,000

Pro Rata Percentage: 10.000%

Signature page to Amendment No. 4- 1852027

 

 

 

	 	 	 	 	 
	 	SIGNATURE BANK, as Lender

 	 
	 	By:  	/s/ Susan M. Duggan
 	 
	 	 	Name:  	Susan M. Duggan 	 
	 	 	Title:  	Sr. Lender & Vice President 	 
	 

Commitment:
            $15,000,000

Pro Rata Percentage: 5.000%

	 	 	 	 	 
	 	
BANK LEUMI USA, as Lender

 	 
	 	By:  	/s/ Lisa Steinhardt
 	 
	 	 	Name:  	Lisa Steinhardt 	 
	 	 	Title:  	Vice President 	 
	 
	 	 	 
	 	By:  	
/s/ Nancy Pulla
 	 
	 	 	Name:  	Nancy Pulla 	 
	 	 	Title:  	Assistant Vice President 	 
	 

Commitment:
            $18,500,000

Pro Rata Percentage: 6.166%

	 	 	 	 	 
	 	WEBSTER BUSINESS CREDIT, as Lender

 	 
	 	By:  	/s/ Daniel Stampfel
 	 
	 	 	Name:  	Daniel Stampfel 	 
	 	 	Title:  	Vice President 	 
	 

Commitment:
            $18,500,000

Pro Rata Percentage: 6.166%

Signature page to Amendment No. 4- 1852027

 

 

 

	 	 	 	 	 
	 	BANK OF AMERICA, N.A., as Lender

 	 
	 	By:  	/s/ Naomi Hasegawa
 	 
	 	 	Name:  	Naomi Hasegawa 	 
	 	 	Title:  	Vice President 	 
	 

Commitment:
            $28,500,000

Pro Rata Percentage: 9.500%

	 	 	 	 	 
	 	
WACHOVIA BANK, N.A., as Lender

 	 
	 	By:  	/s/ Robert Maichin
 	 
	 	 	Name:  	Robert Maichin 	 
	 	 	Title:  	Senior Vice President 	 
	 

Commitment:
            $33,500,000

Pro Rata Percentage: 11.167%

	 	 	 	 	 
	 	
ACKNOWLEDGED AND AGREED TO

BY EACH OF THE GUARANTORS:

G-III APPAREL GROUP, LTD.

 	 
	 	By:  	/s/ Neal S Nackman
 	 
	 	 	Name:  	Neal S. Nackman 	 
	 	 	Title:  	Chief Financial Officer and Treasurer 	 
	 
	 	

G-III RETAIL OUTLETS INC.

 	 
	 	By:  	/s/ Neal S. Nackman
 	 
	 	 	Name:  	Neal S. Nackman 	 
	 	 	Title:  	Vice President — Finance 	 
	 

Signature page to Amendment No. 4- 1852027

 

 

 

	 	 	 	 	 
	 	G-III LICENSE COMPANY, LLC

 	 
	 	By:  	G-III Apparel Group, Ltd.
 	 
	 	 	 	 
	 	 	 	 
	 	 	 
	 	By:  	          /s/ Neal S. Nackman
 	 
	 	 	Name:  	Neal S. Nackman 	 
	 	 	Title:  	Chief Financial Officer & Treasurer 	 
	 
	 	
G-III BRANDS, LTD.

 	 
	 	By:  	/s/ Neal S. Nackman
 	 
	 	 	Name:  	Neal S. Nackman 	 
	 	 	Title:  	Vice President — Finance 	 
	 
	 	
AM APPAREL HOLDINGS, INC.

 	 
	 	By:  	/s/ Michael Brady
 	 
	 	 	Name:  	Michael Brady 	 
	 	 	Title:  	Treasurer 	 
	 
	 	
ASH RETAIL CORP.

 	 
	 	By:  	/s/ Michael Brady
 	 
	 	 	Name:  	Michael Brady 	 
	 	 	Title:  	Treasurer 	 
	 
	 	
ASH RETAIL OF EASTHAMPTON, INC.

 	 
	 	By:  	/s/ Michael Brady
 	 
	 	 	Name:  	Michael Brady 	 
	 	 	Title:  	Treasurer 	 
	 

Signature page to Amendment No. 4- 1852027exv10w1

Exhibit 10.1

FIRST AMENDMENT TO

PURCHASE AND SALE AGREEMENT

     THIS FIRST AMENDMENT TO PURCHASE AND SALE AGREEMENT (this “Amendment”), dated as of
February 24, 2010, is entered into among the VARIOUS ORIGINATORS PARTY TO THE AGREEMENT (as defined
below) (each an “Originator”; and collectively, the “Originators”), and ARCH COAL,
INC., (the “Company”).

RECITALS

     1. The parties hereto are parties to the Purchase and Sale Agreement, dated as of February 3,
2006 (as amended, restated, supplemented or otherwise modified through the date hereof, the
“Agreement”); and

     2. The parties hereto desire to amend the Agreement as hereinafter set forth.

     NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties agree as follows:

     SECTION 1. Certain Defined Terms. Capitalized terms that are used but not defined
herein shall have the meanings set forth in the Agreement.

     SECTION 2. Amendments to the Agreement.

     2.1 Each reference in the Agreement to the defined term the “Closing Date” shall be deemed to
be a reference to “February 10, 2006”.

     2.2 Section 5.10 of the Agreement is hereby amended by inserting at the end thereof
the following new sentence:

     Each such financing statement, if filed as an as-extracted collateral filing,
includes a complete and correct description of the real property related to such
collateral, as contemplated by the UCC, and names the record owner of the real
property.

     2.3 The following new Section 5.22 is added to the Agreement immediately following
existing Section 5.21:

     SECTION 5.22 Location of Mining Operations. The location of
each Originator’s mining operations and names of each minehead relating thereto are
as set forth on Schedule V hereto.

     2.4 Section 6.1(i) of the Agreement is replaced in its entirety with the following:

     (i) Data Records. Place and maintain on its summary master control
data processing records the following legend (or the substantive equivalent
thereof): “THE RECEIVABLES DESCRIBED HEREIN HAVE BEEN SOLD TO ARCH COAL, INC.
PURSUANT TO A PURCHASE AND SALE

 

AGREEMENT, DATED AS OF FEBRUARY 3, 2006, BETWEEN THE ORIGINATORS NAMED THEREIN AND
ARCH COAL, INC.; AND AN INTEREST IN THE RECEIVABLES DESCRIBED HEREIN HAS BEEN
GRANTED TO PNC BANK, NATIONAL ASSOCIATION, FOR THE BENEFIT OF THE PURCHASERS UNDER
THE AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENT, DATED AS OF FEBRUARY 24,
2010, BY AND AMONG ARCH RECEIVABLE COMPANY, LLC, ARCH COAL SALES COMPANY, INC., THE
VARIOUS CONDUIT PURCHASERS, RELATED COMMITTED PURCHASERS, LC PARTICIPANTS AND
PURCHASER AGENTS FROM TIME TO TIME PARTY THERETO AND PNC BANK, NATIONAL ASSOCIATION,
AS ADMINISTRATOR AND AS LC BANK.”

     2.5 The following new Section 6.1(j) is added to the Agreement immediately following
existing Section 6.1(i):

     (j) Mining Operations and Mineheads. The Company shall (and shall
cause each applicable Originator to) promptly, and in any event within 30 days of
any change, deletion or addition to the location of any Originator’s mining
operations or mineheads set forth on Schedule V hereto, (i) notify the
Administrator and each Purchaser Agent of such change, deletion or addition, (ii)
cause the filing or recording of such financing statements and amendments and/or
releases to financing statements, mortgages or other instruments, if any, necessary
to preserve and maintain the perfection and priority of the security interest of the
Transferor, Seller and Administrator (for the benefit of the Purchasers) in the Pool
Assets pursuant to this Agreement, in each case in form and substance satisfactory
to the Administrator and (iii) deliver to the Administrator and each Purchaser Agent
an updated Schedule V hereto reflecting such change, deletion or addition;
it being understood that no Receivable, the related location of mining operations
and/or mineheads of which is not as set forth on Schedule V hereto as of
such date of determination shall be an Eligible Receivable until such time as each
condition under this clause (j) shall have been satisfied (and upon such
satisfaction, this Agreement shall be deemed amended to reflect such updated
Schedule V hereto).

     2.6 The following new Section 6.1(k) is added to the Agreement immediately following
new Section 6.1(j):

     Additional Mortgages Under Credit Agreement. The Company shall (and
shall cause each applicable Originator to) (x) provide written notice promptly, and
in any event within 30 days, to the Seller, the Administrator and each Purchaser
Agent of each new Mortgage or amendment or modification of an existing Mortgage
under the Credit Agreement covering as-extracted collateral, (y) cause to be
delivered to the Administrator a letter, in form and substance satisfactory to the
Administrator, addressed to the Administrator and duly executed by the related
grantee or beneficiary releasing such party’s security interest, lien or other
rights under such new Mortgage or amended or modified Mortgage in the Receivables,
Contracts and Related Security subject thereto and (z) file or record

 - 2 - 

 

all amendments and/or releases to such new, amended or modified Mortgages
necessary to release and remove of record any such security interest, lien or other
interest of the related grantee or beneficiary in the Receivables, Contracts and
Related Security, in each case in form and substance satisfactory to the
Administrator.

     2.7 Schedule I of the Agreement is replaced in its entirety with Schedule I
attached hereto.

     2.8 Schedule V attached hereto is added to the Agreement as Schedule V
thereto, immediately following existing Schedule IV.

     2.9 The parties hereto hereby agree that on and after the date hereof, each of Arch of
Wyoming, LLC, Ashland Terminal, Inc., Catenary Coal Holdings, Inc., Mountain Mining, Inc. and
Triton Coal Company, LLC (collectively, the “Released Originators”) shall no longer be a
party to the Agreement or any other Transaction Document and no Released Originator shall have any
rights or obligations thereunder (other than such obligations which by their express terms survive
termination of the Agreement).

     SECTION 3. Representations and Warranties. Each of the Originators hereby represents
and warrants as follows:

     (a) Representations and Warranties. The representations and warranties made by
it in the Transaction Documents are true and correct as of the date hereof (unless stated to
relate solely to an earlier date, in which case such representations or warranties were true
and correct as of such earlier date).

     (b) Enforceability. The execution and delivery by such Person of this
Amendment, and the performance of each of its obligations under this Amendment and the
Agreement, as amended hereby, are within each of its corporate powers and have been duly
authorized by all necessary organizational action on its part. This Amendment and the
Agreement, as amended hereby, are such Person’s valid and legally binding obligations,
enforceable in accordance with their respective terms.

     (c) No Default. Both before and immediately after giving effect to this
Amendment and the transactions contemplated hereby, no Purchase and Sale Termination Event,
Unmatured Purchase and Sale Termination Event, Termination Event or Unmatured Termination
Event exists or shall exist.

     SECTION 4. Effect of Amendment. All provisions of the Agreement, as expressly amended
and modified by this Amendment, shall remain in full force and effect. After this Amendment becomes
effective, all references in the Agreement (or in any other Transaction Document) to “this
Agreement”, “hereof”, “herein” or words of similar effect referring to the Agreement shall be
deemed to be references to the Agreement as amended by this Amendment. This Amendment shall not be
deemed, either expressly or impliedly, to waive, amend or supplement any provision of the Agreement
other than as set forth herein.

 - 3 - 

 

     SECTION 5. Effectiveness. This Amendment shall become effective as of the date hereof
upon receipt by the Administrator of duly executed counterparts of this Amendment.

     SECTION 6. Counterparts. This Amendment may be executed in any number of counterparts
and by different parties on separate counterparts, each of which when so executed shall be deemed
to be an original and all of which when 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 electronic transmission shall be effective as delivery of a manually executed counterpart
hereof.

     SECTION 7. Governing Law. This Amendment shall be governed by, and construed in
accordance with, the internal laws of the State of New York.

     SECTION 8. Section Headings. The various headings of this Amendment are included for
convenience only and shall not affect the meaning or interpretation of this Amendment, the
Agreement or any provision hereof or thereof.

[Signatures begin on next page]

 - 4 - 

 

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

	 	 	 	 	 
	 	ARCH COAL, INC.

 	 
	 	By:  	/s/ James E. Florczak	 
	 	 	Name:  	James E. Florczak	 
	 	 	Title:  	Treasurer	 
	 

First
Amendment to PSA (Arch Coal)

S-1

 

	 	 	 	 	 
	 	ORIGINATORS:

ARCH COAL SALES COMPANY, INC.,

as an Originator

 	 
	 	By:  	/s/ James E. Florczak	 
	 	 	Name:  	James E. Florczak	 
	 	 	Title:  	Vice President and Treasurer	 
	 
	 	ARCH COAL TERMINAL, INC.,

as an Originator

 	 
	 	By:  	/s/ James E. Florczak	 
	 	 	Name:  	James E. Florczak	 
	 	 	Title:  	Vice President and Treasurer	 
	 
	 	ARCH ENERGY RESOURCES, LLC,

as an Originator

 	 
	 	By:  	/s/ James E. Florczak	 
	 	 	Name:  	James E. Florczak	 
	 	 	Title:  	Vice President and Treasurer	 
	 

First
Amendment to PSA (Arch Coal)

S-2

 

	 	 	 	 	 
	 	ARCH WESTERN RESOURCES, LLC,

as an Originator

 	 
	 	By:  	/s/ James E. Florczak	 
	 	 	Name:  	James E. Florczak	 
	 	 	Title:  	Vice President and Treasurer	 
	 
	 	CANYON FUEL COMPANY, LLC,

as an Originator

 	 
	 	By:  	/s/ James E. Florczak	 
	 	 	Name:  	James E. Florczak	 
	 	 	Title:  	Vice President and Treasurer	 
	 
	 	COAL-MAC, INC.,

as an Originator

 	 
	 	By:  	/s/
James E. Florczak	 
	 	 	Name:  	James E. Florczak	 
	 	 	Title:  	Vice President and Treasurer	 
	 

First
Amendment to PSA (Arch Coal)

S-3

 

	 	 	 	 	 
	 	CUMBERLAND RIVER COAL COMPANY,

as an Originator

 	 
	 	By:  	/s/
James E. Florczak	 
	 	 	Name:  	James E. Florczak	 
	 	 	Title:  	Vice President and Treasurer	 
	 
	 	LONE MOUNTAIN PROCESSING, INC.,

as an Originator

 	 
	 	By:  	/s/
James E. Florczak	 
	 	 	Name:  	James E. Florczak	 
	 	 	Title:  	Vice President and Treasurer	 
	 
	 	MINGO LOGAN COAL COMPANY,

as an Originator

 	 
	 	By:  	/s/ James E. Florczak	 
	 	 	Name:  	James E. Florczak	 
	 	 	Title:  	Vice President and Treasurer	 
	 

First
Amendment to PSA (Arch Coal)

S-4

 

	 	 	 	 	 
	 	MOUNTAIN COAL COMPANY, L.L.C.,

as an Originator

 	 
	 	By:  	/s/
James E. Florczak	 
	 	 	Name:  	James E. Florczak	 
	 	 	Title:  	Vice President and Treasurer	 
	 
	 	THUNDER BASIN COAL COMPANY, L.L.C.,

as an Originator

 	 
	 	By:  	/s/
James E. Florczak	 
	 	 	Name:  	James E. Florczak	 
	 	 	Title:  	Vice President and Treasurer	 
	 

First
Amendment to PSA (Arch Coal)

S-5

 

CONSENT TO:

PNC BANK, National Association

	 	 	 	 	 
	 	By:  	/s/
William P. Falcon	 
	 	 	Name:  	William P. Falcon	 
	 	 	Title:  	Vice President	 
	 

First
Amendment to PSA (Arch Coal)

S-6

 

Schedule I

LIST OF ORIGINATORS

Arch Coal Sales Company, Inc.

Arch Coal Terminal, Inc.

Arch Energy Resources, LLC

Arch Western Resources, LLC

Canyon Fuel Company, LLC

Coal-Mac, Inc.

Cumberland River Coal Company

Lone Mountain Processing, Inc.

Mingo Logan Coal Company

Mountain Coal Company, L.L.C.

Thunder Basin Coal Company, L.L.C.

	 	 	 	 	 

	 
	 	Schedule 1-1
	 	Purchase and Sale Agreement
	 
	 	 	 	(Arch Coal)

 

 

Schedule V

LOCATION OF MINING OPERATIONS

	 	 	 	 	 	 	 
	ORIGINATOR	 	MINEHEAD	 	STATE	 	COUNTY
	Arch Coal Sales Company, Inc.

	 	-N/A
	 	West Virginia
	 	Mingo
	Arch Coal Terminal, Inc.

	 	-N/A
	 	Kentucky
	 	Boyd
	Arch Western Resources, LLC

	 	-N/A
	 	Wyoming
	 	Campbell
	Canyon Fuel Company, LLC

	 	- Dugout
- Skyline
	 	Utah
	 	Carbon
	Canyon Fuel Company, LLC

	 	-Sufco
	 	Utah
	 	Sevier
	Coal-Mac, Inc.

	 	-Holden
-Ragland / Phoenix
	 	West Virginia
	 	Logan
	Coal-Mac, Inc.

	 	-Ragland / Phoenix
	 	West Virginia
	 	Mingo
	Cumberland River Coal Company

	 	-Cumberland River (aka Pardee)
	 	Kentucky
	 	Letcher
	Cumberland River Coal Company

	 	-Cumberland River (aka Pardee)
	 	Virginia
	 	Wise
	Lone Mountain Processing, Inc.

	 	-Lone Mountain
	 	Kentucky
	 	Harlan
	Lone Mountain Processing, Inc.

	 	-N/A
	 	Virginia
	 	Lee
	Mingo Logan Coal Company

	 	-Mountain Laurel
	 	West Virginia
	 	Logan
	Mountain Coal Company, L.L.C.

	 	- West Elk
	 	Colorado
	 	Gunnison
	Thunder Basin Coal Company,
L.L.C.

	 	- Black Thunder
- Coal Creek
	 	Wyoming
	 	Campbell

	 	 	 	 	 

	 
	 	Schedule V-1
	 	Purchase and Sale Agreement
	 
	 	 	 	(Arch Coal)

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