Document:

Amendment No. 1 to Office and Warehouse Lease

 Exhibit 10.10 
 AMENDMENT NO. 1 TO 
 OFFICE AND WAREHOUSE LEASE AGREEMENT

 THIS AMENDMENT NO. 1 is entered into as of February 21, 2011 (the “Amendment”) between Amnet Holdings,
LLC (the “Landlord”) and World of Jeans & Tops, dba Tilly’s, (the “Tenant”) to the Office and Warehouse Lease agreement dated as of November 1, 2010 (the “Lease”). 

RECITAL 

Whereas Landlord and Tenant desire to amend the terms of the Lease to provide Tenant with less square feet in the Building (as defined in
the Lease). 
 AGREEMENT 
 Therefore, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledge by both the parties, Tenant and Landlord agree to amend the Lease as follows: 

1. Section 1.6 Premises Address is amended by adding the following additional sentence at the end of the paragraph: 

Beginning March 1, 2011, Landlord will decrease the size of warehouse space available in the Premises to approximately 13,270 square
feet. 
 2. Section 1.9 Minimum Monthly Rental and Minimum Rental Amount is amended by adding the following additional sentence to the end
of the paragraph: 
 Beginning March 1, 2011, Tenant will pay Landlord the Minimum Monthly Rental amount of Fifteen Thousand
Five Hundred Sixty One and 60/100 Dollars ($15,561.60). 
 3. Section 1.11 Security Deposit is amended by adding the following additional
sentence at the end of the paragraph: 
 Beginning March 1, 2011, the Security Deposit will be reduced to Thirty Five
Thousand Four Hundred Ninety Nine and 80/100 Dollars ($35,499.80). 
 4. Section 4.1 Minimum Monthly Rental is deleted in its entirety and
replaced with: 
 Minimum Monthly Rental. Tenant agrees to pay to Landlord as minimum monthly rental,
without prior notice or demand and without setoff or deduction for the premises the amount set forth in Section 1.9 on or before the first (1st) day of the first full calendar month of the term hereof and a like sum on or before the first day of each and
every successive calendar month thereafter during the period of the tenancy except that the first month’s rental shall be paid upon the execution hereof. If Tenant is granted occupancy prior to the Commencement Date then, (a) Tenant shall
pay in advance an occupancy fee equal to one-fifth of the minimum monthly rental amount for each day of such early occupancy, and (b) such early occupancy shall not affect the termination date of this Agreement. 

5. Section 5 Security Deposit is amended by deleting the first sentence and replacing it with the following sentence: 

Tenant has deposited with Landlord the sum set forth in Section 1.11, which represents the security deposit (“Security
Deposit”). 
 6. This Amendment together with the Lease contain all of the agreements and conditions made between the parties and may not
be modified orally or in any other manner other than by agreement in writing signed by all parties or their respective successors in interest. This Amendment will be governed by California law. 

 IN WITNESS WHEREOF the undersigned have executed this Amendment No. 1 as of the date
written above. 
  

			
	Landlord	    	Tenant
		
	 /s/ Hezy Shaked
	    	 /s/ Bill Langsdorf

	Name: Hezy Shaked	    	Name: Bill Langsdorf
	Title: Manager	    	Title: Senior Vice President and Chief Financial OfficerCancellation of Loan Guaranty

 Exhibit 10.21 

 

					
	

	  	LOAN GUARANTY	  	

 1. Obligations Guaranteed. For consideration, the adequacy and sufficiency of which is acknowledged, the
undersigned (“Guarantor”) unconditionally guarantees and promises to pay to Union Bank of California, N.A. (“Bank”) on demand, in lawful United States money, all principal, interest, attorneys’ fees, expenses and other sums
due or to become due pursuant to any or all of the following: (a) that certain promissory note payable to Bank executed on or about the date of this Guaranty by
                                 

                         
           SHAKED HOLDINGS, LLC 
  

 
  
  

 
 (“Borrower”) in the original principal
amount of         NINE MILLION FIVE HUNDRED NINETY-SIX THOUSAND TWO HUNDRED FIFTY AND
NO/100                                        
                                 Dollars ($
  9,596,250.00  ); 
 (b) that certain deed of trust in favor of Bank executed on or about the date of this
Guaranty securing the promissory note; (c) any environmental compliance agreement and all other documents or instruments executed in connection with the promissory note; (d) all extensions, renewals and modifications of any of the
foregoing (individually and collectively, the “Obligations”), whether due or not due, absolute or contingent, liquidated or unliquidated, legal or equitable, whether Borrower is liable individually or jointly or with others, whether
incurred before, during or after any bankruptcy, reorganization, insolvency, receivership or similar proceeding (“Insolvency Proceeding”), and whether recovery thereof is or becomes barred by a statute of limitations or is or becomes
otherwise unenforceable, together with all expenses of, for and incidental to collection, including reasonable attorneys’ fees. This Guaranty is in addition to and independent of any other guaranty previously, concurrently or hereafter given to
Bank by Guarantor. 
 2. Reinstatement. All of Bank’s rights pursuant to this Guaranty continue with respect to amounts previously
paid to Bank on account of any Obligations which are thereafter restored or returned by Bank, whether in an Insolvency Proceeding of Borrower or for any other reason, all as though such amounts had not been paid to Bank, and Guarantor’s
liability under this Guaranty (and all its terms and provisions) shall be reinstated and revived, notwithstanding any surrender or cancellation of this Guaranty. Bank, in its sole discretion, may determine whether any amount paid to it must be
restored or returned; provided, however, that if Bank elects to contest any claim for return or restoration, Guarantor agrees to indemnify and hold Bank harmless from and against all costs and expenses, including reasonable attorneys’ fees,
expended or incurred by Bank in connection with such contest. If any Insolvency Proceeding is commenced by or against Borrower or Guarantor, at Bank’s election, Guarantor’s obligations under this Guaranty shall immediately and without
notice or demand become due and payable, whether or not then otherwise due and payable. 
 3. Authorization. Guarantor authorizes Bank,
without notice and without affecting Guarantor’s liability under this Guaranty, from time to time, whether before or after any revocation of this Guaranty, to (a) renew, compromise, extend, accelerate, release, subordinate, waive, amend
and restate, or otherwise amend or change, the interest rate, time or place for payment or any other terms of all or any part of the Obligations; (b) accept delinquent or partial payments on the Obligations; (c) take or not take security
or other credit support for this Guaranty or for all or any part of the Obligations, and exchange, enforce, waive, release, subordinate, fail to enforce or perfect, sell, or otherwise dispose of any such security or credit support; (d) apply
proceeds of any such security or credit support and direct the order or manner of its sale or enforcement as Bank, in its sole discretion, may determine; and (e) release or substitute Borrower or any guarantor or other person or entity liable
in respect of all or any part of the Obligations. 
 4. Waivers. To the maximum extent permitted by law, Guarantor waives (a) all
rights to require Bank to proceed against Borrower or any other guarantor or proceed against, enforce or exhaust any security for the Obligations or to marshal assets or to pursue any other remedy in Bank’s power whatsoever; (b) all
defenses arising by reason of any disability or other defense of Borrower, the cessation for any reason of the liability of Borrower, any defense that any other indemnity, guaranty or security was to be obtained, any claim that Bank has made
Guarantor’s obligations more burdensome or more burdensome than Borrower’s obligations, and the use of any proceeds of the Obligations other than as intended or understood by Bank or Guarantor; (c) all presentments, demands for
performance, notices of nonperformance, protests, notices of protest, notices of dishonor, notices of acceptance of this Guaranty, and all notices or demands to which Guarantor might otherwise be entitled; (d) all conditions precedent to the
effectiveness of this Guaranty; (e) all rights to file a claim in connection with the Obligations in an Insolvency Proceeding filed by or against Borrower; (f) all rights to require Bank to enforce any of its remedies and (g) until the
Obligations are satisfied or fully paid, with such payment not subject to return: (i) all rights of subrogation, contribution, indemnification or reimbursement, (ii) all rights of recourse to any assets or property of Borrower or to any
collateral or credit support for the Obligations, (iii) all rights to participate in or benefit from any security or credit support Bank may have or acquire and (iv) all rights, remedies and defenses Guarantor may have or acquire against
Borrower. Guarantor understands that if Bank forecloses by trustee’s sale on a deed of trust securing any of the Obligations, Guarantor would then have a defense preventing Bank from thereafter enforcing Guarantor’s liability for the
unpaid balance of the secured Obligations. This defense arises because the trustee’s sale would eliminate Guarantor’s right of subrogation, and therefore Guarantor would be unable to obtain reimbursement from Borrower. Guarantor
specifically waives this defense and all rights and defenses that Guarantor may have because the Obligations are secured by real property. This means, among other things: (a) Bank may collect from Guarantor without first foreclosing on any real
or personal property collateral pledged by Borrower; and (b) if Bank forecloses on any real property collateral pledged by Borrower: (i) the amount of the Obligations may be reduced only by the price for which the collateral is sold at the
foreclosure sale, even if the collateral is worth more than the sale price; and (ii) Bank may collect from Guarantor even if Bank, by foreclosing on the real property collateral, has destroyed any right Guarantor may have to collect from
Borrower. This is an unconditional and irrevocable waiver of any rights and defenses Guarantor may have because the Obligations are secured by real property. These rights and defenses include, but are not limited to, any rights or defenses based
upon Section 580a, 580b, 580d or 726 of the California Code of Civil Procedure or similar laws in other states. 
 5. Guarantor to Keep
Informed. Guarantor warrants having established with Borrower adequate means of obtaining, on an ongoing basis, such information as Guarantor may require concerning all matters bearing on the risk of nonpayment or nonperformance of the
Obligations. Guarantor assumes sole, continuing responsibility for obtaining such information from sources other than from Bank. Bank has no duty to provide any information to Guarantor until Bank receives Guarantor’s written request for
specific information in Bank’s possession and Borrower has authorized Bank to disclose such information to Guarantor. 
 6.
Subordination. All liabilities and commitments of Borrower to Guarantor, which presently or in the future may exist (“Guarantor’s Claims”) are hereby subordinated to the Obligations. At Bank’s request, Guarantor’s Claims
will be enforced, and performance thereon received by Guarantor only as a trustee for Bank, and Guarantor will promptly pay over to Bank all proceeds recovered for application to the Obligations without reducing or affecting Guarantor’s
liability under other provisions of this Guaranty. 
 H-S 7. Security. To secure Guarantor’s obligations under this Guaranty,
Guarantor grants Bank a security interest in all illegible, general and special deposits, instruments, and other property of Guarantor at any time maintained with or held by Bank, and all proceeds of the foregoing. 

H-S 8. Authorization. Where Borrower is a corporation, partnership or other entity, Bank need not inquire into or verify the powers or authority
of those acting or purporting to act on behalf Borrower, and this Guaranty shall be enforceable with respect to any Obligations Bank grants or creates in reliance on the purported exercise of such powers or authority. 

9. Assignments. Without notice to Guarantor, Bank may assign the Obligations and this Guaranty, in whole or in part, and may disclose to any
prospective or actual purchaser of all or part of the Obligations any and all information Bank has or acquires concerning Guarantor, this Guaranty and any security for this Guaranty. 
 10. Counsel Fees and Costs. The prevailing party shall be entitled to attorneys’ fees (including a reasonable allocation for Bank’s internal counsel), and all other costs and expenses
which it may incur in connection with the enforcement or preservation of its rights under, or defense of, this Guaranty or in connection with any other dispute or proceeding relating to this Guaranty, whether or not incurred in any Insolvency
Proceeding, arbitration, litigation or other proceeding. 

 11. Married Guarantors. By executing this Guaranty a Guarantor who is married agrees that recourse
may be had against his or her separate and community property for all his or her obligations under this Guaranty. 
 12. Multiple
Guarantors/Borrowers. When there is more than one Borrower named herein, or when this Guaranty is executed by more than one Guarantor, then the words “Borrower” and Guarantor,” respectively, shall mean all and any one or more of
them, and their respective successors and assigns, including debtors-in-possession and bankruptcy trustees, and words used herein in the singular shall be considered to have been used in the plural where the context and construction so requires in
order to refer to more than one Borrower or Guarantor, as the case may be. 
 13. Integration/Severability/Amendments. This
Guaranty is intended by Guarantor and Bank as the complete, final expression of their agreement concerning its subject matter. It supersedes all prior understandings or agreements with respect thereto and may be changed only by a writing signed by
Guarantor and Bank. No course of dealing, or parol or extrinsic evidence shall be used to modify or supplement the express terms of this Guaranty. If any provision of this Guaranty is found to be illegal, invalid or unenforceable, such provision
shall be enforced to the maximum extent permitted, but if fully unenforceable, such provision shall be severable, and this Guaranty shall be construed as if such provision had never been a part of this Guaranty and the remaining provisions shall
continue in full force and effect. 
 14. Joint and Several. If more than one Guarantor signs this Guaranty, the obligations of
each under this Guaranty are joint and several, and independent of the Obligations and of the liabilities and commitments of any other person or entity. A separate action or actions may be brought and prosecuted against any one or more guarantors,
whether action is brought against Borrower or other guarantors of the Obligations, and whether Borrower or others are joined in any such action. 
 15. Notice. Any notice given by any party under this Guaranty shall be effective only upon its receipt by the other party and only if (a) given in writing and (b) personally delivered or
sent by United States mail, postage prepaid, and addressed to Bank or Guarantor at their respective addresses for notices indicated below. Guarantor and Bank may change the place to which notices, requests, and other communications are to be sent to
them by giving written notice of such change to the other. 
 16. California Law. This Guaranty shall be governed by and construed
according to the laws of California, and, except as provided in any alternative dispute resolution agreement executed between Guarantor and Bank, Guarantor submits to the nonexclusive jurisdiction of the state or federal courts in California.

 17. Dispute Resolution. This Guaranty hereby incorporates any alternative dispute resolution agreement previously, concurrently or
hereafter executed between Guarantor and Bank. 
 Executed as of DECEMBER 11, 2002. Guarantor acknowledges having received a copy
of this Guaranty and having made each waiver contained in this Guaranty with full knowledge of its consequences, WORLD OF JEANS & TOPS 
  

					
	BY: /s/
Hezy Shaked                                C.E.O.      
                                       	 		  	  

	                              
                                  TITLE	 		  	
			
	BY:                             
                                         
                                         
     	 		  	  

	                              
                                  TITLE	 		  	
			
	  
	 		  	  

			
	  
	 		  	  

			
	  
	 		  	  

			
	  
	 		  	  

 

	
	 UNION BANK OF CALIFORNIA, N.A.
  

BY:
illegible                                       
                                         
            
  

TITLE:
VP                                        
                                         
               

	
	

  

					
	Address for Notices to Bank	  	Address for Notices to Guarantor
			
	ATTN:	  	 COMMERCIAL REAL ESTATE LOAN SUPPORT
 18300 VON KARMAN SUITE 200
 IRVINE, CA 92612
	  	 2502 BARRANCA PARKWAY

IRVINE, CA 92606
 Tax ID:
47-0893134

 

 
 March 9, 2011 
 World of Jeans & Tops 
 2502 Barranca Parkway 

Irvine, CA 92606 
 RE: SHAKED HOLDINGS LLC

 Obligor # 8298512718/0000000001 

Dear Guarantor, 
 We have received a notice
canceling and/or revoking the Loan Guaranty dated December 11, 2002, in the amount of $9,596,250.00, executed by you for the obligations of Shaked Holdings, LLC. 
 Attached is an original Guaranty. The Bank acknowledges that the Guaranty shall be of no further effect. 
  

			
	Sincerely yours,
	
	Union Bank, N.A.
		
	By:	 	 /s/ Michele O’Leary

		 	Michele O’Leary
		 	Senior Vice President

  

					
	 Commercial Loan and Trade Services
 P.O. Box 30115
 Los Angeles, CA 90030

 
 A member of MUFG, a global financial group
	  	 Tel. 323 720 7810
 Fax 323 720
7886

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