Document:

Amended and Restated Credit Agreement

 EXHIBIT 4.6 
  

FIFTH AMENDMENT 
  
 THIS FIFTH AMENDMENT (this “Amendment”) dated as of October 25, 2005, to the Credit Agreement referenced below, is by and among
SCHOOL SPECIALTY, INC., a Wisconsin corporation (the “Borrower”), the Guarantors identified on the signature pages hereto, the Lenders identified on the signature pages hereto and BANK OF AMERICA, N.A., as Administrative Agent.

  
 W I T N E S S E T H 
  
 WHEREAS, a $250 million credit facility has been extended to the Borrower
pursuant to the Amended and Restated Credit Agreement (as amended, modified, supplemented and extended, the “Credit Agreement”) dated as of April 11, 2003 by and among the Borrower, the Guarantors identified therein, the
Lenders identified therein and Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer; and 
  
 WHEREAS, the Borrower has requested certain modifications to the Credit Agreement and the Lenders have consented to the requested modifications on the
terms and conditions set forth herein. 
  
 NOW, THEREFORE, IN
CONSIDERATION of the premises and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
  
 1. Defined Terms. Capitalized terms used herein but not otherwise defined herein shall have the meanings provided to
such terms in the Credit Agreement. 
  

	 	2.	Amendments. 

  

	 	2.1	Section 2.03(a)(ii)(C) of the Credit Agreement is amended to read as follows. 

  
 the expiry date of such requested Letter of Credit would occur after the Letter of Credit Expiration Date, unless the L/C
Issuer has approved such expiry date; 
  

	 	2.2	The first sentence of Section 2.03(g) of the Credit Agreement is amended to read as follows: 

  
 If, as of the Letter of Credit Expiration Date, any Letter of Credit may for any reason remain outstanding and partially or
wholly undrawn, the Borrower shall immediately Cash Collateralize the then Outstanding Amount of all L/C Obligations (in an amount equal to such Outstanding Amount determined as of the date of such L/C Borrowing or the Letter of Credit Expiration
Date, as the case may be). 
  
 3. Conditions Precedent.
This Amendment shall become effective as of the date hereof upon receipt by the Administrative Agent of counterparts of this Amendment executed by the Borrower, the Guarantors and the Lenders. 
  
 4. No Other Changes. Except as expressly modified hereby, all of the
terms and provisions of the Loan Documents shall remain in full force and effect. 

 5. Amendment is a “Loan Document”; Reaffirmation of Representations and Warranties. This
Amendment is a Loan Document. Each Loan Party represents and warrants that, immediately prior to and immediately after giving effect to this Amendment, each representation and warranty set forth in the Loan Documents is true and correct in all
material respects as of the date hereof (except those that expressly relate to an earlier period). 
  
 6. Reaffirmation of Security Interests. Each Loan Party (i) affirms that each of the Liens granted in or pursuant to the Loan Documents are
valid and subsisting and (ii) agrees that this Amendment shall in no manner impair or otherwise adversely effect any of the Liens granted in or pursuant to the Loan Documents. 
  
 7. Reaffirmation of Guaranty. Each of the Guarantors (i) acknowledges and consents to all of the terms and
conditions of this Amendment, (ii) affirms all of its obligations under the Loan Documents and (iii) agrees that this Amendment and all documents executed in connection herewith do not operate to reduce or discharge such Guarantor’s
obligations under the Loan Documents. 
  
 8. Counterparts.
This Amendment may be executed in any number of counterparts, each of which when so executed and delivered shall be deemed an original and it shall not be necessary in making proof of this Amendment to produce or account for more than one such
counterpart. 
  
 9. Governing Law. This Amendment shall be
deemed to be a contract made under, and for all purposes shall be construed in accordance with, the laws of the State of North Carolina. 
  
 [Remainder of Page Intentionally Left Blank] 
  

 2 

 IN WITNESS WHEREOF, each of the parties hereto has caused a counterpart of this Fifth Amendment to be
duly executed and delivered as of the date first above written. 
  

					
	BORROWER:	  	SCHOOL SPECIALTY, INC. a Wisconsin corporation
			
	 	  	By:	  	 /s/ Mary M. Kabacinski

	 	  	Name:	  	Mary M. Kabacinski
	 	  	Title:	  	Chief Financial Officer
		
	GUARANTORS:	  	CHILDCRAFT EDUCATION CORP., a New York corporation
	 	  	CLASSROOMDIRECT.COM, LLC, a Delaware limited liability company
	 	  	BIRD-IN-HAND WOODWORKS, INC., a New Jersey corporation
	 	  	SPORTIME, LLC, a Delaware limited liability company
	 	  	GLOBAL VIDEO, LLC, a Wisconsin limited liability company
	 	  	PREMIER AGENDAS, INC., a Washington corporation
	 	  	FREY SCIENTIFIC, INC., a Delaware corporation
	 	  	AMALGAMATED WIDGETS, INC., a Wisconsin corporation
	 	  	SAX ARTS & CRAFTS, INC., a Delaware corporation
	 	  	CALIFONE INTERNATIONAL, INC., a Delaware corporation
	 	  	DELTA EDUCATION, LLC, a Delaware limited liability company
			
	 	  	By:	  	 /s/ Mary M. Kabacinski

	 	  	Name:	  	Mary M. Kabacinski
	 	  	Title:	  	Treasurer

  
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	ADMINISTRATIVE	  	 
	AGENT:	  	BANK OF AMERICA, N.A., as Administrative Agent
			
	 	  	By:	  	 /s/ Anthea Del Bianco

	 	  	Name:	  	Anthea Del Bianco
	 	  	Title:	  	Vice President
		
	LENDER:	  	BANK OF AMERICA, N.A., as a Lender, L/C Issuer and Swing Line Lender
			
	 	  	By:	  	 /s/ J. Casey Cosgrove

	 	  	Name:	  	J. Casey Cosgrove
	 	  	Title:	  	Vice President
		
	 	  	U.S. BANK NATIONAL ASSOCIATION
			
	 	  	By:	  	 /s/ Karen Weathers

	 	  	Name:	  	Karen Weathers
	 	  	Title:	  	Senior Vice President
		
	 	  	LASALLE BANK, NATIONAL ASSOCIATION
			
	 	  	By:	  	 /s/ Lou D. Banach

	 	  	Name:	  	Lou D. Banach
	 	  	Title:	  	Senior Vice President & Senior Regional Advisor
		
	 	  	M&I MARSHALL & ILSLEY BANK
			
	 	  	By:	  	 /s/ Leo D. Freeman

	 	  	Name:	  	Leo D. Freeman
	 	  	Title:	  	Vice President
		
	 	  	JPMORGAN CHASE BANK, N.A.
			
	 	  	By:	  	 /s/ Sabir Hashmy

	 	  	Name:	  	Sabir Hashmy
	 	  	Title:	  	Vice President
		
	 	  	HARRIS N.A.
			
	 	  	By:	  	 /s/ Ronald V. Redd

	 	  	Name:	  	Ronald V. Redd
	 	  	Title:	  	Vice President
		
	 	  	NATIONAL CITY BANK OF THE MIDWEST
	 	  	(f.k.a. National City Bank of Michigan/Illinois)
			
	 	  	By:	  	 /s/ Tiffany Cozzolino

	 	  	Name:	  	Tiffany Cozzolino
	 	  	Title:	  	Vice President

  
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	 	 	ASSOCIATED BANK, N.A.
			
	 	 	By:	  	 /s/ Thomas M. Toerpe

	 	 	Name:	  	Thomas M. Toerpe
	 	 	Title:	  	Vice President
		
	 	 	THE BANK OF NEW YORK
			
	 	 	By:	  	 /s/ Mark Wrigley

	 	 	Name:	  	Mark Wrigley
	 	 	Title:	  	Vice President
		
	 	 	UNION BANK OF CALIFORNIA, N.A.
			
	 	 	By:	  	 /s/ Matthew Krajniak

	 	 	Name:	  	Matthew Krajniak
	 	 	Title:	  	Assistant Vice President
		
	 	 	ST. FRANCIS BANK
			
	 	 	By:	  	 /s/ Paul W. Jelacic

	 	 	Name:	  	Paul W. Jelacic
	 	 	Title:	  	Vice President
		
	 	 	BANK OF SCOTLAND
			
	 	 	By:	  	 /s/ Karen Weich

	 	 	Name:	  	Karen Weich
	 	 	Title:	  	Assistant Vice PresidentReceivables Purchase Agreement

 EXHIBIT 4.7 
 AMENDMENT NO. 11 
 to 
 RECEIVABLES PURCHASE AGREEMENT 
  
 THIS AMENDMENT NO. 11 (this “Amendment”) is entered into as of November 15, 2005 by and among New School, Inc., as Seller (“Seller”), School Specialty, Inc., as Servicer (“SSI”),
Falcon Asset Securitization Corporation (“Falcon”), the Financial Institutions party hereto, and JPMorgan Chase Bank, N.A. (successor by merger to Bank One, NA (Main Office Chicago), as agent (the “Agent”).

  
 PRELIMINARY STATEMENT 
  
 A. Seller, SSI, Falcon, the Financial Institutions and the Agent are parties
to that certain Receivables Purchase Agreement dated as of November 22, 2000 (as amended, restated, supplemented or otherwise modified from time to time, the “Purchase Agreement”). Capitalized terms used herein and not
otherwise defined shall have the meanings ascribed to them in the Purchase Agreement. 
  
 B. Seller, SSI, Falcon, the Financial Institutions and the Agent have agreed to amend the Purchase Agreement, subject to the terms and conditions hereinafter set forth. 
  
 NOW, THEREFORE, in consideration of the premises set forth above, and other
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 
  
 SECTION 1. Amendment. Effective as of the date hereof, subject to the satisfaction of the condition precedent set forth in Section 2
below, the Purchase Agreement is hereby amended as follows: 
  
 1.1 The definition of “Liquidity Termination Date” in Exhibit I to the Purchase Agreement is restated in its entirety as follows: 
  
 “Liquidity Termination Date” means January 15, 2006. 
  
 SECTION 2. Condition Precedent. This Amendment shall become effective and be deemed effective, as of the date first
above written, upon receipt by the Agent of one copy of this Amendment duly executed by each of the parties hereto. 
  
 SECTION 3. Covenants, Representations and Warranties of the Seller and the Servicer. 
  
 3.1 Upon the effectiveness of this Amendment, each of Seller and SSI hereby reaffirms all covenants, representations and
warranties made by it, to the extent the same are not amended hereby, in the Purchase Agreement and agrees that all such covenants, representations and warranties shall be deemed to have been re-made as of the effective date of this Amendment.

 3.2 Each of Seller and SSI hereby represents and warrants as to itself (i) that this Amendment
constitutes the legal, valid and binding obligation of such party enforceable against such party in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting
the enforcement of creditors’ rights generally and general principles of equity which may limit the availability of equitable remedies and (ii) upon the effectiveness of this Amendment, no event shall have occurred and be continuing which
constitutes an Amortization Event or a Potential Amortization Event. 
  
 SECTION 4. Reference to and Effect on the Purchase Agreement. 
  
 4.1 Upon the effectiveness of this Amendment, each reference in the Purchase Agreement to “this Agreement,” “hereunder,” “hereof,” “herein,” “hereby” or words of like
import shall mean and be a reference to the Purchase Agreement as amended hereby, and each reference to the Purchase Agreement in any other document, instrument or agreement executed and/or delivered in connection with the Purchase Agreement shall
mean and be a reference to the Purchase Agreement as amended hereby. 
  
 4.2 Except as specifically amended hereby, the Purchase Agreement and 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.

  
 4.3 The execution, delivery and effectiveness of this
Amendment shall not operate as a waiver of any right, power or remedy of Falcon, the Financial Institutions or the Agent under the Purchase Agreement or any of the other Transaction Documents, nor constitute a waiver of any provision contained
therein, except as specifically set forth herein. 
  
 SECTION 5.
GOVERNING LAW. THIS AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK AND THE OBLIGATIONS, RIGHTS, AND REMEDIES OF THE PARTIES UNDER THIS AGREEMENT SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 

 
 SECTION 6. 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. 
  
 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. 
  
 * * * * * 
  

 2 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed on the date first set
forth above by their respective officers thereto duly authorized, to be effective as hereinabove provided. 
  

			
	NEW SCHOOL, INC., as Seller
		
	By:	 	 /s/ Mary M. Kabacinski

	Name:	 	Mary M. Kabacinski
	Title:	 	Treasurer
	
	SCHOOL SPECIALTY, INC., as Servicer
		
	By:	 	 /s/ Mary M. Kabacinski

	Name:	 	Mary M. Kabacinski
	Title:	 	Chief Financial Officer
	
	FALCON ASSET SECURITIZATION CORPORATION
		
	By:	 	 /s/ Ronald Atkins

	Name:	 	Ronald Atkins
	Title:	 	Authorized Signer
	
	JPMORGAN CHASE BANK, N.A.
	 (successor by merger to Bank One, NA (Main
 Office Chicago), as a Financial Institution and
 as Agent

		
	By:	 	 /s/ Ronald Atkins

	Name:	 	Ronald Atkins
	Title:	 	Vice President

  
 Signature Page
to 
 Amendment No.11

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