Document:

Unassociated Document

    Exhibit 10.6

     

    THIS
INSTRUMENT IS SUBJECT TO THE TERMS OF A SUBORDINATION AGREEMENT BY AMERICAN
LEISURE EQUITIES CORPORATION, D/B/A TRAVELEADERS, INC. IN FAVOR OF JPMORGAN
CHASE BANK, N.A., AS AGENT FOR THE BANKS AS SUCH TERM IS DEFINED FROM TIME TO
TIME IN THAT CERTAIN CREDIT AGREEMENTDATED AS OF JANUARY 28, 2008 BY AND
BETWEEN, AMONG OTHER PARTIES, TL ACQUISITION GROUP LLC, THE AGENT AND THE
BANKS.

    

    GUARANTY
AGREEMENT

    

    This
GUARANTY AGREEMENT (this “Guaranty”)
is entered into as of March 21, 2008, by TAG II, INC., a Delaware corporation
(“Guarantor”),
in order to induce AMERICAN LEISURE EQUITIES CORPORATION D/B/A TRAVELEADERS,
INC., a Florida corporation (the “Seller”)
and AMERICAN LEISURE HOLDINGS, INC., a Nevada corporation being the sole
shareholder of the Seller (the “Shareholder”),
to enter into that certain Asset Purchase Agreement (the “Purchase
Agreement”), dated on even date herewith, and in consideration of all of
the benefits which TL ACQUISITION GROUP LLC, a Delaware limited liability
company (the “Buyer”)
and Guarantor, being the sole member of the Buyer, will receive by the
consummation of the transaction contemplated by the Purchase Agreement,
Guarantor hereby, unconditionally, directly, irrevocably, and absolutely
covenants and agrees with the Seller and the Shareholder, and their respective
successors and assigns, as follows (all terms used herein shall, to the extent
not defined herein, have the meanings ascribed thereto in the Purchase
Agreement):

    

    AGREEMENT

    

    1.           Representations.  Guarantor
acknowledges and agrees that:  (i) the execution and delivery and
compliance with the terms hereof will not contravene or constitute a default
under any indenture, commitment, agreement or other instrument to which
Guarantor is a party or by which he is bound or any existing law, rule,
regulation, judgment, order or decree to which it is subject; (ii) the
consummation of the transaction contemplated by the Purchase Agreement will be
of economic benefit to Guarantor; and (iii) the consummation of the transaction
shall constitute conclusive evidence of the reliance hereon by the
Buyer.

     

    2.           Guaranty.  Guarantor
hereby unconditionally and irrevocably guarantees to the Seller and the
Shareholder the performance of each any every obligation of the Buyer arising
out of, or relating to, the Note and the Purchase Agreement, including, without
limitation, under Article
X thereof (collectively the “Obligations”);
provided, that
such Obligations shall not include the performance of any obligation or the
payment of any amount under dispute under the terms of the Note, the Purchase
Agreement or other related document until such amount is finally determined
pursuant to the terms of such document.

     

    3.           Survival.  The
Obligations of Guarantor under this Guaranty Agreement shall be absolute and
unconditional and shall remain in full force and effect until the Obligations
have been satisfied in full (including, but not limited to, all indemnification
obligations pursuant to Article
X of the Purchase Agreement).

     

    4.           Waiver.

     

    (a)           Guarantor
expressly waives notice of the acceptance of this Guaranty, the creation of any
present or future Obligation, default under any Obligation, all diligence of
collection and presentment, demand, notice and protest and any right to
disclosures from the Seller or the Shareholder regarding their respective
financial condition or the enforceability of the Obligations.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    (b)           No
delay or omission to exercise any right or power accruing upon any default,
omission or failure of performance hereunder shall impair any such right or
power or shall be construed to be a waiver thereof, but any such right or power
may be exercised from time to time and as often as may be deemed
expedient.

     

    5.           Consent.  With
respect to any of the Obligations but subject to the last sentence of Section 2
above, the Seller or the Shareholder may, from time to time without prior notice
to Guarantor and without affecting the liability of Guarantor, proceed against
Guarantor to collect or enforce any Obligation.  Guarantor expressly
consents to and waives notice of any and all of the above.

     

    6.           Default and
Remedies.  The Seller or the Shareholder shall have the right,
power and authority to do all things deemed necessary or advisable to enforce
the provisions of this Guaranty and, in the event of default in the timely or
complete performance or payment of any Obligation, the Seller or the Shareholder
may institute or appear in such appropriate judicial proceedings as it deems
most effectual to protect and enforce any of its rights hereunder, whether for
the specific enforcement of any covenant or agreement in this Guaranty or in aid
of the exercise of any power granted herein or in the Purchase Agreement, or to
enforce any other proper remedy.  Without limiting the generality of
the foregoing, in the event of a default in payment of any Obligation when due,
the Buyer may institute a judicial proceeding for the collection of the sums so
due and unpaid, and may prosecute such proceeding to judgment or final decree,
and may enforce the same against Guarantor and collect the moneys adjudged or
decreed to be payable in the manner provided by law out of the property of
Guarantor, wherever situated.  No remedy conferred upon or reserved to
the Buyer herein is intended to be exclusive of any other available remedy or
remedies, but each and every such remedy shall be cumulative and shall be in
addition to every other remedy given under this Guaranty or now or hereafter
existing at law or in equity.

     

    7.           [intentionally
left blank]

     

    8.           Costs of
Collection.  Guarantor agrees to pay all costs, expenses and
fees, including all reasonable attorneys’ fees, which may be incurred by the
Buyer in enforcing or attempting to enforce this Guaranty or protecting the
rights of the Buyer hereunder following any default on the part of Guarantor
hereunder, whether the same shall be enforced by suit or otherwise and
unconditionally waive, in connection with any suit, action or proceeding brought
by the Buyer on this Guaranty, any and every right Guarantor may have to (i)
injunctive relief, (ii) a trial by jury, (iii) interpose any counterclaim
therein and (iv) have the same consolidated with any other or separate suit,
action or proceeding.

     

    9.           Successors.  This
Guaranty is binding upon Guarantor and its heirs, legal representatives,
successors and assigns.  This Guaranty benefits and is enforceable by
the Buyer or any subsequent holder or holders of any document evidencing the
Obligations or any portion thereof and their respective, heirs, legal
representatives, successors and assigns.  Any holder of any document
evidencing the Obligations or any portion thereof may assign all of such
holder’s rights and interests hereunder without the consent of, or notice to,
Guarantor.

     

    10.           Notices.  Any
and all notices, demands, and communications provided for herein or made
hereunder shall be given in the manner set forth in Section 11.6 of the Purchase
Agreement.

     

    11.           Amendment, Modification and
Waiver.  This Agreement may not be modified, amended or
supplemented except by mutual written agreement of the parties
hereto.  Any party may waive in writing any term or condition
contained in this Agreement and intended to be for its benefit; provided, however, that no
waiver by any party, whether by conduct or otherwise, in any one or more
instances, shall be deemed or construed as a further or continuing waiver of any
such term or condition.  Each amendment, modification, supplement or
waiver shall be in writing signed by the party or the parties to be
charged.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    12.           Assignment.  This
Guaranty may not be assigned by any party without the prior written consent of
the other party, whether by merger, operation of law or otherwise.

     

    13.           Other
Provisions.  This Guaranty shall not be revoked by bankruptcy
or insolvency of Guarantor.  To the extent that any provision in or
obligation under this Guaranty is invalid, illegal or unenforceable, in any
jurisdiction, that finding shall not affect the validity, legality and
enforceability of any other provision or obligation in this Guaranty in that
jurisdiction or the validity, legality and enforceability of the provisions in
or obligations under this Guaranty.  This Guaranty shall be governed
by and construed in accordance with the internal laws of the State of Florida
(regardless of such State’s conflict of law principles), and without reference
to any rules of construction regarding the party responsible for the drafting
hereof.

     

    [Signature
page follows]

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    IN
WITNESS WHEREOF, Guarantor has executed this Agreement as of the date first
written above.

     

    

     

                                    TAG II,
INC.

    

    

     

                                    By:  Nicholas C. Bluhm,
Sr.                                                 

                                    Name:  Nicholas
C. Bluhm, Sr.

                                    Title:  Secretary
and Treasurerbws10k07ex4_1b.htm

    
      

    

    Exhibit
4.lb

    
 

    SUPPLEMENTAL
INDENTURE

     

    Supplemental
Indenture (this “Supplemental
Indenture”), dated as of October 24, 2007, between SHOES.COM, INC., a
Delaware corporation (the “Guaranteeing Subsidiary”), a
subsidiary of Brown Shoe Company, Inc., a New York corporation (the “Company”), the Company and U.S
Bank National Association, a national banking association, as successor to
SunTrust Bank, 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 other Guarantors party thereto have heretofore executed and
delivered to the Trustee an indenture (the “Indenture”), dated as of April
22, 2005 providing for the issuance of the Company’s 8.75% Senior Notes due 2012
(the “Notes”);

     

    WHEREAS,
the Indenture provides that under certain circumstances the Guaranteeing
Subsidiary shall execute and deliver to the Trustee a supplemental indenture
pursuant to which the Guaranteeing Subsidiary shall, subject to Article Ten of
the Indenture, unconditionally guarantee the Notes on the terms and conditions
set forth therein (the “Note
Guarantee”); and

     

    WHEREAS,
pursuant to Section 9.01 of the Indenture, the Trustee is authorized to execute
and deliver this Supplemental Indenture.

     

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

     

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

     

    2.           Agreement to
Guarantee.

     

    (a)           Subject
to Article Ten of the Indenture, the Guaranteeing Subsidiary fully and
unconditionally guarantees to each Holder of a Note authenticated and delivered
by the Trustee and to the Trustee and its successors and assigns, irrespective
of the validity and enforceability of the Indenture, the Notes or the
obligations of the Company hereunder or thereunder, that:

     

    (i)           the
principal of, premium, if any, and interest and Additional Interest, if any, on
the Notes will be promptly paid in full when due, whether at maturity, by
acceleration, redemption or otherwise, and interest on the overdue principal of,
premium, if any, and interest and Additional Interest, if any, on the Notes, if
lawful (subject in all cases to any applicable grace period provided herein),
and all other obligations of the Company to the Holders or the Trustee hereunder
or thereunder will be promptly paid in full, all in accordance with the terms
hereof and thereof; and

     

    (ii)           in
case of any extension of time of payment or renewal of any Notes or any of such
other obligations, the same will be promptly paid in full when due in accordance
with the terms of the extension or renewal, whether at stated maturity, by
acceleration or otherwise.  Failing payment when due of any amount so
guaranteed for whatever reason, the Guarantors shall be jointly and severally
obligated to pay the same immediately.  The Guaranteeing Subsidiary
agrees that this is a guarantee of payment and not a guarantee of
collection.

     

    (b)           The
Guaranteeing Subsidiary hereby agrees that, to the maximum extent permitted
under applicable law, its obligations hereunder shall be unconditional,
irrespective of the validity, regularity or enforceability of the Notes or the
Indenture, the absence of any action to enforce the same, any waiver or consent
by any Holder of the Notes with respect to any provisions hereof or thereof, the
recovery of any judgment against the Company, any action to enforce the same or
any other circumstance which might otherwise constitute a legal or equitable
discharge or defense of a Guarantor.

     

    (c)           The
Guaranteeing Subsidiary, subject to Section 6.06 of the Indenture, hereby waives
diligence, presentment, demand of payment, filing of claims with a court in the
event of insolvency or bankruptcy of the Company, any right to require a
proceeding first against the Company, protest, notice and all demands whatsoever
and covenants that this Note Guarantee shall not be discharged except by
complete performance of the obligations contained in the Notes and the
Indenture.

     

    (d)           If
any Holder or the Trustee is required by any court or otherwise to return to the
Company, the Guarantors, or any custodian, trustee, liquidator or other similar
official acting in relation to any of the Company or the Guarantors, any amount
paid by any of them to the Trustee or such Holder, this Note Guarantee, to the
extent theretofore discharged, shall be reinstated in full force and
effect.

     

    (e)           The
Guaranteeing Subsidiary agrees that it shall not be entitled to any right of
subrogation in relation to the Holders in respect of any obligations guaranteed
hereby until payment in full of all obligations guaranteed hereby.

     

    (f)           The
Guaranteeing Subsidiary agrees that, as between the Guarantors, on the one hand,
and the Holders and the Trustee, on the other hand, (x) the maturity of the
obligations guaranteed hereby may be accelerated as provided in Article Six of
the Indenture for the purposes of the Note Guarantee, notwithstanding any stay,
injunction or other prohibition preventing such acceleration in respect of the
obligations guaranteed hereby, and (y) in the event of any declaration of
acceleration of such obligations as provided in Article Six of the Indenture,
such obligations (whether or not due and payable) shall forthwith become due and
payable by the Guarantors for the purpose of the Note Guarantee.

     

    (g)           The
Guaranteeing Subsidiary shall have the right to seek contribution from any
non-paying Guarantor so long as the exercise of such right does not impair the
rights of the Holders under the Note Guarantee.

     

    (h)           The
Guaranteeing Subsidiary confirms, pursuant to Section 10.02 of the Indenture,
that it is the intention of such Guaranteeing Subsidiary that the Note Guarantee
not constitute (i) a fraudulent transfer or conveyance for purposes of
Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent
Transfer Act or any similar federal or state law to the extent applicable to the
Note Guarantee or (ii) an unlawful distribution under any applicable state law
prohibiting shareholder distributions by an insolvent subsidiary to the extent
applicable to the Note Guarantee.  To effectuate the foregoing
intention, the Guaranteeing Subsidiary and the Trustee hereby irrevocably agree
that the obligations of the Guaranteeing Subsidiary will be limited to the
maximum amount as will, after giving effect to all other contingent and fixed
liabilities of such Guaranteeing Subsidiary that are relevant under such laws,
and after giving effect to any collections from, rights to receive contribution
from or payments made by or on behalf of any other Guarantor in respect of the
obligations of such other Guarantor under Article Ten of the Indenture, result
in the obligations of the Guaranteeing Subsidiary under the Note Guarantee not
constituting a fraudulent transfer or conveyance or such an unlawful shareholder
distribution.

     

    3.           Execution and
Delivery.  The Guaranteeing Subsidiary agrees that the Note
Guarantee shall remain in full force and effect notwithstanding any failure to
endorse on each Note a notation of the Note Guarantee.

     

    4.           Guaranteeing Subsidiary May
Consolidate, Etc., on Certain Terms.  The Guaranteeing
Subsidiary may not sell or otherwise dispose of all or substantially all of its
assets to, or consolidate with or merge with or into, any Person other than as
set forth in Section 10.04 of the Indenture.

     

    5.           Release.  The
Guaranteeing Subsidiary’s Note Guarantee shall be released as set forth in
Section 10.05 of the Indenture.

     

    6.           No Recourse Against
Others.  Pursuant to Section 12.07 of the Indenture, no
director, officer, employee, incorporator or stockholder of the Guaranteeing
Subsidiary shall have any liability for any obligations of the Guaranteeing
Subsidiary under the Notes, the Indenture, this Supplemental Indenture, the Note
Guarantees or for any claim based on, in respect of, or by reason of, such
obligations or their creation.  This waiver and release are part of
the consideration for the Note Guarantee.

     

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

     

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

     

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

     

    10.           Trustee.  The
Trustee shall not be responsible in any manner whatsoever for or in respect of
the validity or sufficiency of this Supplemental Indenture or for or in respect
of the recitals contained herein, all of which recitals are made solely by the
Guaranteeing Subsidiary and the Company.

     

    [SIGNATURE PAGE
FOLLOWS]

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

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

     

    

     

    SHOES.COM,
INC.

     

    By:   /s/ Mark E.
Hood                                                    

    Name:
Mark E. Hood

    Title:   Senior
Vice President and Chief

               Financial
Officer

     

    BROWN
SHOE COMPANY, INC.

     

    By:     /s/ Mark E.
Hood                                                 

    Name:
Mark E. Hood

    Title:   Senior
Vice President and Chief

               Financial
Officer

     

    U.S. BANK
NATIONAL ASSOCIATION,

     

    AS
TRUSTEE

     

    By:          /s/
Jack
Ellerin                                            

    Name: 
Jack Ellerin

    Title: 
Vice President

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