Document:

exv10w1

Exhibit 10.1

March 31, 2011

Aarons, Inc.

1100 Aaron Building

309 East Paces Ferry Road, NE

Atlanta, GA 30305-2377

Attn: Gil Danielson

Ladies and Gentlemen:

We refer to that certain Second Amended and Restated Loan Facility Agreement and Guaranty,
dated as of June 18, 2010 (as amended, the “Loan Facility Agreement”), among Aarons, Inc.,
a Georgia corporation (“Sponsor”), the financial institutions from time to time parties
thereto (the “Participants”) and SunTrust Bank as servicer (the “Servicer”).
Capitalized terms used herein and not otherwise defined shall have the meanings given to such terms
in the Loan Facility Agreement.

As you have requested, the Servicer and the Participants party hereto agree to amend the Loan
Facility Agreement by (a) deleting the “and” at the end of Section 8.4(i), (b) adding “and” to the
end of Section 8.4(j) and (c) adding the following as Section 8.4(k): “(k) Investments in
investment grade corporate bonds and variable rate demand notes having a rating of BBB+ (or the
equivalent) or higher, at the time of acquisition thereof, from S&P or Moody’s and in either case
maturing within two years from the date of acquisition thereof in an aggregate amount not to exceed
$125,000,000 at any time.”; provided, that the foregoing amendment is conditioned upon receipt by
the Servicer of executed counterparts to this letter agreement (this “Amendment”) from the
Sponsor and the Required Participants.

To induce the Servicer and the Participants to execute and deliver this Amendment, by signing
below, the Sponsor consents to the terms of this Amendment and represents and warrants that no
Unmatured Credit Event or Credit Event has occurred and is continuing and the representations and
warranties of the Credit Parties set forth in the Operative Documents are true and correct in all
material respects except to the extent such representations and warranties relate solely to an
earlier date.

The amendment set forth above is limited solely to the specific amendment listed above and
shall not be deemed to be an amendment or waiver of any other provision of the Loan Facility
Agreement or other Operative Documents. As modified by this Amendment, the Loan Facility Agreement
shall remain in full force and effect and constitute the legal, valid, binding and enforceable
obligations of the Sponsor. This Amendment shall be governed by, and construed in accordance with
the internal laws (and not the laws of conflicts) of the State of Georgia and all applicable laws
of the United States of America. The Sponsor agrees to pay on demand all costs and expenses
(including, without limitation, reasonable fees and expenses of counsel) incurred by the Servicer
in connection with this Amendment and the transactions contemplated hereby. This Amendment shall
constitute an Operative Document. This Amendment constitutes the entire understanding of the
parties hereto and supersedes any other prior or contemporaneous negotiations or agreements with
respect to the subject matter hereof. This Amendment may be executed in any number of separate
counterparts, each of which shall, collectively and separately, constitute one agreement.

 

 

 

Please countersign below to evidence your acknowledgment and agreement to the terms of this
Amendment.

	 	 	 	 	 
	 	Very truly yours,

SUNTRUST BANK, as Servicer and as a
Participant

 	 
	 	By:  	/s/ J. Matthew Rowland
 	 
	 	 	Name:  	J. Matthew Rowland 	 
	 	 	Title:  	Vice President 	 
	 
	 	WELLS FARGO BANK, N.A., as a Participant

 	 
	 	By:  	/s/ Ben Wright
 	 
	 	 	Name:  	Ben Wright 	 
	 	 	Title:  	Vice President 	 
	 
	 	REGIONS BANK, as a Participant

 	 
	 	By:  	/s/ Scott Rossman
 	 
	 	 	Name:  	Scott Rossman 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	BRANCH BANKING & TRUST CO., as a Participant

 	 
	 	By:  	/s/ Bradley S. Sands
 	 
	 	 	Name:  	Bradley S. Sands 	 
	 	 	Title:  	Assistant Vice President 	 
	 
	 	BANK OF AMERICA, N.A., as a Participant

 	 
	 	By:  	/s/ Ryan Maples
 	 
	 	 	Name:  	Ryan Maples 	 
	 	 	Title:  	Vice President 	 

Acknowledged and agreed to as of the

date herein above written:

	 	 	 	 	 
	 	AARONS, INC.

 	 
	 	By:  	/s/ Gilbert L. Danielson
 	 
	 	 	Name:  	Gilbert L. Danielson  	 
	 	 	Title:  	Executive Vice President and 
Chief Financial Officer 	 

 

2exv10w2

Exhibit 10.2

March 31, 2011

Aarons, Inc.

1100 Aaron Building

309 East Paces Ferry Road, NE

Atlanta, GA 30305-2377

Attn: Gil Danielson

Ladies and Gentlemen:

We refer to that certain Revolving Credit Agreement, dated as of May 23, 2008 (as amended, the
“Credit Agreement”), among Aarons, Inc., a Georgia corporation (“Borrower”), the
lenders from time to time parties thereto (the “Lenders”) and SunTrust Bank as
administrative agent (the “Administrative Agent”) for the Lenders. Capitalized terms used
herein and not otherwise defined shall have the meanings given to such terms in the Credit
Agreement.

As you have requested, the Administrative Agent and the Lenders party hereto agree to amend
the Credit Agreement by (a) deleting the “and” at the end of Section 7.4(i), (b) adding “and” to
the end of Section 7.4(j) and (c) adding the following as Section 7.4(k): “(k) Investments in
investment grade corporate bonds and variable rate demand notes having a rating of BBB+ (or the
equivalent) or higher, at the time of acquisition thereof, from S&P or Moody’s and in either case
maturing within two years from the date of acquisition thereof in an aggregate amount not to exceed
$125,000,000 at any time.”; provided, that the foregoing amendment is conditioned upon receipt by
the Administrative Agent of executed counterparts to this letter agreement (this
“Amendment”) from the Borrower and the Required Lenders.

To induce the Administrative Agent and the Lenders to execute and deliver this Amendment, by
signing below, the Borrower consents to the terms of this Amendment and represents and warrants
that no Default or Event of Default has occurred and is continuing and the representations and
warranties of the Loan Parties set forth in the Loan Documents are true and correct in all material
respects except to the extent such representations and warranties relate solely to an earlier date.

The amendment set forth above is limited solely to the specific amendment listed above and
shall not be deemed to be an amendment or waiver of any other provision of the Credit Agreement or
other Loan Documents. As modified by this Amendment, the Credit Agreement shall remain in full
force and effect and constitute the legal, valid, binding and enforceable obligations of Borrower.
This Amendment shall be governed by, and construed in accordance with the internal laws (and not
the laws of conflicts) of the State of Georgia and all applicable laws of the United States of
America. The Borrower agrees to pay on demand all costs and expenses (including, without
limitation, reasonable fees and expenses of counsel) incurred by the Administrative Agent in
connection with this Amendment and the transactions contemplated hereby. This Amendment shall
constitute a Loan Document. This Amendment constitutes the entire understanding of the parties
hereto and supersedes any other prior or contemporaneous negotiations or agreements with respect to
the subject matter hereof. This Amendment may be executed in any number of separate counterparts,
each of which shall, collectively and separately, constitute one agreement.

 

 

 

Please countersign below to evidence your acknowledgment and agreement to the terms of this
Amendment.

	 	 	 	 	 
	 	Very truly yours,

SUNTRUST BANK, as Administrative Agent, as

Issuing Bank, as Swingline Lender and as a

Lender

 	 
	 	By:  	/s/ J. Matthew Rowland
 	 
	 	 	Name:  	J. Matthew Rowland 	 
	 	 	Title:  	Vice President 	 
	 
	 	REGIONS BANK, as a Lender

 	 
	 	By:  	/s/ Scott Rossman
 	 
	 	 	Name:  	Scott Rossman 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	BRANCH BANKING & TRUST COMPANY, as a Lender

 	 
	 	By:  	/s/ Scott Rossman
 	 
	 	 	Name:  	Scott Rossman 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	WACHOVIA BANK, NATIONAL

ASSOCIATION1, as a Lender

 	 
	 	By:  	/s/ Ben Wright
 	 
	 	 	Name:  	Ben Wright 	 
	 	 	Title:  	Vice President 	 
	 
	 	BANK OF AMERICA, N.A., as a Lender

 	 
	 	By:  	/s/ Ryan Maples
 	 
	 	 	Name:  	Ryan Maples 	 
	 	 	Title:  	Vice President 	 

Acknowledged and agreed to as of the

date herein above written:

	 	 	 	 	 
	 	AARONS, INC.

 	 
	 	By:  	/s/ Gilbert L. Danielson
 	 
	 	 	Name:  	Gilbert L. Danielson 	 
	 	 	Title:  	Executive Vice President and
 Chief Financial Officer 	 

 

2exv10w3

Exhibit 10.3

April 19, 2011

Aaron’s, Inc.

1100 Aaron Building

309 East Paces Ferry Road, NE

Atlanta, GA 30305-2377

Attn: Gilbert L. Danielson

Aaron Investment Company

Two Greenville Crossing

4005 Kennett Pike, Suite 220

Greenville, Delaware 19807

Attn: Marianne Stearns and Linda Jones

Ladies and Gentlemen:

We refer to that certain Note Purchase Agreement, dated as of July 27, 2005, as amended by
that certain First Amendment to Note Purchase Agreement, dated as of November 4, 2008 (as in effect
immediately prior to the date hereof, the “Existing Note Purchase Agreement”), among
Aaron’s, Inc. (f/k/a Aaron Rents, Inc.), a Georgia corporation (the “Company”), Aaron
Investment Company, a Delaware corporation (together with the Company, each an “Obligor”,
and collectively, the “Obligors”), and the holders of Notes from time to time parties
thereto (collectively, the “Noteholders”). Capitalized terms used herein and not otherwise
defined shall have the meanings given to such terms in the Existing Note Purchase Agreement, as
amended hereby (as so amended, the “Note Purchase Agreement”).

As you have requested, the Noteholders party hereto hereby agree to amend the Existing Note
Purchase Agreement by (i) deleting the “and” from the end of clause (g) of paragraph 6I, (ii)
deleting the “.” from the end of clause (h) of paragraph 6I and inserting “; and” in lieu thereof,
and (iii) adding the following new clause (i) to the end of paragraph 6I: “(i) Investments in
investment grade corporate bonds and variable rate demand notes having a rating of BBB+ (or the
equivalent) or higher, at the time of acquisition thereof, from S&P or Moody’s and in either case
maturing within two years from the date of acquisition thereof in an aggregate amount not to exceed
$125,000,000 at any time.”

Additionally, the Noteholders and the Obligors hereby agree and acknowledge that all
references in the Note Purchase Agreement to “Aaron Rents, Inc.” shall be deemed to mean “Aaron’s,
Inc.”

To induce the Noteholders to execute and deliver this letter agreement (this
“Amendment”), by signing below, each Obligor consents to the terms of this Amendment and
represents and warrants that no Default or Event of Default has occurred and is continuing and the
representations and warranties of the Obligors set forth in the Note Purchase Agreement and all
other instruments, agreements, documents and writings executed in connection with the foregoing
(collectively, the “Transaction Documents”) are true and correct in all material respects
except to the extent such representations and warranties relate solely to an earlier date.

 

 

 

The amendments set forth above are limited solely to the specific amendments listed above and
shall not be deemed to be amendments or waivers of any other provision of the Note Purchase
Agreement or other Transaction Documents. As modified by this Amendment, the Note Purchase
Agreement shall remain in full force and effect and constitute the legal, valid, binding and
enforceable obligations of the Obligors. This Amendment shall be governed by, and construed in
accordance with, the internal laws (and not the laws of conflicts) of the State of New York and all
applicable laws of the United States of America. The Obligors agree to pay on demand all costs and
expenses (including, without limitation,
reasonable fees and expenses of counsel) incurred by the Noteholders in connection with this
Amendment and the transactions contemplated hereby. This Amendment constitutes the entire
understanding of the parties hereto and supersedes any other prior or contemporaneous negotiations
or agreements with respect to the subject matter hereof. This Amendment may be executed in any
number of separate counterparts, each of which shall, collectively and separately, constitute one
agreement.

[Remainder of page intentionally left blank. Next page is signature page,]

 

2

 

Please countersign below to evidence your acknowledgment and agreement to the terms of this
Amendment.

	 	 	 	 	 
	 	Very truly yours,

GIBRALTAR LIFE INSURANCE CO., LTD. 

 	 
	 	By:  	Prudential Investment Management (Japan),
 	 
	 	 	Inc., as Investment Manager 	 
	 	 	 
	 	By:  	Prudential Investment Management, Inc.,
 	 
	 	 	as Sub-Advisor 	 
	 	 	 
	 	By:  	                /s/ Jay S. White
 	 
	 	 	Name:  	Jay S. White 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	ZURICH AMERICAN INSURANCE COMPANY

 	 
	 	By:  	Prudential Private Placement Investors, L.P.,
 	 
	 	 	 as Investment Advisor 	 
	 	 	 
	 	By:  	Prudential Private Placement Investors, Inc.,
 	 
	 	 	 as General Partner 	 
	 	 	 
	 	By:  	                /s/ Jay S. White
 	 
	 	 	Name:  	Jay S. White 	 
	 	 	Title:  	Senior Vice President 	 
	 
	 	PRUCO LIFE INSURANCE COMPANY

 	 
	 	By:  	/s/ Jay S. White
 	 
	 	 	Name:  	Jay S. White 	 
	 	 	Title:  	Assistant Vice President 	 
	 
	 	UNITED OF OMAHA LIFE INSURANCE COMPANY

 	 
	 	By:  	Prudential Private Placement Investors, L.P.,
 	 
	 	 	 as Investment Advisor 	 
	 	 	 
	 	By:  	Prudential Private Placement Investors, Inc.,
 	 
	 	 	 as General Partner 	 
	 	 	 
	 	By:  	                /s/ Jay S. White
 	 
	 	 	Name:  	Jay S. White 	 
	 	 	Title:  	Senior Vice President 	 

 

3

 

Acknowledged and agreed to as of the
date herein above written:

	 	 	 	 	 
	 	AARON’S, INC.

 	 
	 	By:  	/s/ Gilbert L. Danielson
 	 
	 	 	Name:  	Gilbert L. Danielson 	 
	 	 	Title:  	Executive Vice President and
 Chief Financial Officer 	 
	 
	 	AARON INVESTMENT COMPANY

 	 
	 	By:  	/s/ Gilbert L. Danielson
 	 
	 	 	Name:  	Gilbert L. Danielson 	 
	 	 	Title:  	Vice President and Treasurer 	 
	 

 

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