Document:

exhibit4_6.htm

    
      

    

    Exhibit
      4.6

    

    

     

    Cabela’s
      Incorporated

    Cabela’s
      Catalog, Inc.

    Cabela’s
      Retail, Inc.

    Cabela’s
      Outdoor Adventures, Inc.

    Cabelas.com,
      Inc.

    Cabela’s
      Wholesale, Inc.

    Cabela’s
      Ventures, Inc.

    Wild
      Wings, LLC

    Cabela’s
      Lodging, LLC

    Van
      Dyke
      Supply Company, Inc.

    Cabela’s
      Marketing and Brand Management, Inc.

    Cabela’s
      Retail LA, LLC

    Cabela’s
      Trophy Properties, LLC

    Original
      Creations, LLC

    Cabela’s
      Retail TX, L.P.

    Cabela’s
      Retail GP, LLC

    Legacy
      Trading Company

    CRLP,
      LLC

    Cabela’s
      Retail MO, LLC

    Cabela’s
      Retail IL, Inc.

    

    

    

    Amendment
      No. 7 to Note Agreements

    

    

    

    Dated
      as
      of June 15, 2007

    

    

    
    

    
      	
               
                Re:

            	 	 Note
              Agreements dated as of January 1,
              1995

    

                                                                                             

    

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      

    

    

    Cabela’s
      Incorporated

     

    Amendment
      No. 7 to Note Agreements

     

     

    
      
      

      
        	
                 
                  Re:

              	 	 Note
                Agreements dated as of January 1,
                1995

      

    

    and

    $10,000,000
      8.79% Senior Notes, Series A

    Due
      January 1, 2007

    and

    $5,000,000
      9.01% Senior Notes, Series B

    Due
      January 1, 2007

    and

    $5,000,000
      9.19% Senior Notes, Series C

    Due
      January 1, 2010

     

    

    
      	
              To
                the Holders of the Notes

                 named
                on Schedule I hereto

            	
              Dated
                as of

              June
                15, 2007

            

    

    

     

    Ladies
      and Gentlemen:

     

    Reference
      is hereby made to the separate Note Agreements dated as of January 1, 1995
      by and among Cabela’s Incorporated, a Delaware corporation (the
“Company”), and each of you (as heretofore amended by Amendment
      No. 1 dated as of June 30, 1997, Amendment No. 2 dated as of
      September 1, 2000, Amendment No. 3 dated as of October 9, 2001,
      Amendment No. 4 dated as of September 5, 2002, Amendment No. 5
      dated as of May 5, 2004, Amendment No. 6 dated as of February 27, 2006 and
      various joinder agreements executed from time to time) (as so amended, the
      “Existing Note Agreements”) and as further amended by this Amendment
      No. 7, the “Note Agreements”) under and pursuant to which
      $10,000,000 aggregate principal amount of 8.79% Senior Notes, Series A due
      January 1, 2007 (the “Series A Notes”), $5,000,000 aggregate
      principal amount of 9.01% Senior Notes, Series B due January 1, 2007
      (the “Series B Notes”) and $5,000,000 aggregate principal amount
      of 9.19% Senior Notes, Series C due January 1, 2010 (the “Series C
      Notes” and, collectively with the Series A Notes and the Series B
      Notes, the “Notes”) of the Company were issued and of which the Series
      C Notes are outstanding.  From time to time, certain other
      Subsidiaries of the Company, as set forth below, joined the Note Agreements
      and
      the Notes as Obligors.  As of the date hereof, the following are
      Obligors under the Note Agreements: the Company, Cabela’s Catalog, Inc., a
      Nebraska corporation (“Catalog”), Cabela’s Retail, Inc., a Nebraska
      corporation (“Retail”), Cabela’s Outdoor Adventures, Inc., a Nebraska
      corporation (“Adventures”), Cabelas.com, Inc., a Nebraska corporation
      (“Cabelas.com”), Cabela’s Wholesale, Inc., a Nebraska corporation
      (“Wholesale”), Cabela’s Ventures, Inc., a Nebraska corporation
      (“Ventures”), Wild Wings, LLC, a Minnesota limited liability company
      (“Wild Wings”), Cabela’s Lodging, LLC, a Nebraska limited liability
      company (“Lodging”), Van Dyke Supply Company, Inc., a South Dakota
      corporation (“Van Dyke”), Cabela’s Marketing and Brand Management,
      Inc., a Nebraska corporation (“Marketing”), Cabela’s Retail LA, LLC, a
      Nebraska limited liability company (“Retail LA”), Cabela’s Trophy
      Properties, LLC, a Nebraska limited liability company (“Trophy”),
      Original Creations, LLC, a Minnesota limited liability company
      (“Creations”), Cabela’s Retail TX, L.P., a Nebraska limited partnership
      (“Retail TX”), Cabela’s Retail GP, LLC, a Nebraska limited liability
      company (“Retail GP”), Legacy Trading Company, a South Dakota
      corporation (“Legacy”), CRLP, LLC, a Nebraska limited liability company
      (“CRLP”), Cabela’s Retail MO, LLC, a Nebraska limited liability company
      (“Retail MO”) and Cabela’s Retail IL, Inc., an Illinois corporation
      (“Retail IL” and, together with the Company, Catalog, Retail, Adventures,
      Cabelas.com, Wholesale, Ventures, Wild Wings, Lodging, Van Dyke, Marketing,
      Retail LA, Trophy, Creations, Retail TX, Retail GP, Legacy, CRLP and Retail
      MO,
      individually, referred to as an “Obligor,” and, collectively, as the
“Obligors”).  

     

     

    
      
        
        

      

      
        -1-

        
          

        

      

      
        
        

      

    

     

    For
      good
      and valuable consideration, the receipt and sufficiency of which are hereby
      acknowledged, the Obligors request the amendment of a certain provision of
      the
      Existing Note Agreements as hereinafter provided.

     

    Upon
      your
      acceptance hereof in the manner hereinafter provided and upon satisfaction
      of
      all conditions to the effectiveness hereof and receipt by the Obligors of
      similar acceptances from the Holders of the Notes, this Amendment No. 7 shall
      constitute a contract between us amending the Existing Note Agreements, as
      of
      the Seventh Amendment Closing Date (hereinafter defined), but only in the
      respects hereinafter set forth:

     

    Section 1.    Amendments
      to Existing Note Agreements.

     

        Section 1.1.    Amendments
      to Section 1.2.  Section 1.2 is hereby restated in its
      entirety to read as follows:

     

    “Section 1.2.Security
      for the Notes.  Upon the Seventh Amendment Closing Date, the
      Third Amended and Restated Intercreditor Agreement dated as of February 27,
      2006
      by and among the holders of the Notes, the 2002 Noteholders, the Banks and
      U.S.
      Bank National Association, as Collateral Agent (the “Collateral Agent”)
      will be revised and restated as the Fourth Amended and Restated Intercreditor
      Agreement dated as of June 15, 2007 (as amended or restated from time to time,
      the “Revised Intercreditor Agreement”) by and among the holders of the
      Notes, the 2002 Noteholders, the 2006 Noteholders, the Banks and the Collateral
      Agent in the form attached to Amendment No. 7 as Exhibit A, with the
      Revised Intercreditor Agreement becoming effective upon the Seventh Amendment
      Closing Date.”

     

        Section 1.2.    Amendments
      to Section 5.12.  Section 5.12 is hereby restated in
      its entirety to read as follows:

     

    “Section 5.12.Guaranties
      and Restricted Subsidiary Obligors of Debt.  The Company will
      not, and will not permit any Restricted Subsidiary to, become or be liable
      in
      respect of any Guaranty except Guaranties by the Company which are limited
      in
      amount to a stated maximum dollar exposure or constitute Guaranties of
      obligations incurred by any Restricted Subsidiary in compliance with the
      provisions of the Agreements; provided, however, that (i) the
      Restricted Subsidiaries which are obligors of the Bank Loans on June 15, 2007
      and under the 2002 Note Agreements on June 15, 2007 and under the 2006 Note
      Agreements on June 15, 2007, and which on the Seventh Amendment Closing Date
      are
      obligors of the Notes and the Agreements, shall be permitted to be such obligors
      as of the date they become such obligors and (ii) the Company which is a
      guarantor of the obligations of WFB under the WFB Loan Agreement pursuant to
      the
      Parent Guaranty, shall be permitted to be a guarantor as of the date it became
      such a guarantor.”

     

     

    
      
        
        

      

      
        -2-

        
          

        

      

      
        
        

      

    

     

        Section 1.3.    Addition
      of
      Section 5.20.  The following shall be added as a new section
      5.20:

     

    “Supplements,
      Restatements and Amendments – The Obligors shall deliver to each holder of
      Notes promptly and in any event within five (5) Business Days after the
      execution and delivery of any amendment, restatement, or supplement of the
      2002
      Note Agreements, the 2006 Note Agreements or the Credit Agreement, a copy
      thereof.”

     

        Section 1.4.    Amendments
      to
      Section 8.1  The following definitions are either added or
      otherwise restated:

     

    “Amendment
      No. 7” shall mean this Amendment No. 7 to Note Agreements dated
      as of June 15, 2007. 

     

    “Obligors”
      is defined in the preamble of Amendment No. 7 and shall include any other
      party that executes a joinder agreement pursuant to Section 5.18(a) of this
      Agreement.  

     

    “Seventh
      Amendment Closing Date” shall have the meaning set forth in Amendment
      No. 7.

     

    “2002
      Note Agreements” shall mean the separate Note Purchase Agreements, dated as
      of September 5, 2002, between the Obligors and the 2002 Noteholders, as amended,
      restated and supplemented from time to time. 

     

    “2006
      Note Agreements” shall mean the separate Note Purchase Agreements dated as
      of February 27, 2006 between the Obligors and the 2006 Noteholders, as
      amended, restated and supplemented from time to time.

     

    “2006
      Noteholders” shall mean the parties set forth in Schedule A to the
      2006 Purchase Agreements and the corresponding schedule of any supplement
      thereto, and any Persons who succeed to their respective benefits in accordance
      with the 2006 Note Agreements.

     

    Section 2.    Warranties
      and Representations.

     

    The
      Obligors hereby represent and warrant that as of the date hereof and as of
      the
      date of execution and delivery of this Amendment No. 7, there are no Defaults
      or
      Events of Default under the Existing Note Agreements before and after giving
      effect to this Amendment No. 7 and the representations and warranties set
      forth in Schedule II hereto are true and correct before and after giving effect
      to this Amendment No. 7.

     

    
      Section 3.    Conditions
        Precedent.

    

     

    This
      Amendment No. 7 to Note Agreements shall not become effective until, and shall
      become effective on, the Business Day when each of the following conditions
      shall have been satisfied (the “Seventh Amendment Closing
      Date”):

    
      
        
        

      

      
        -3-

        
          

        

      

      
        
        

      

    

     

        Section 3.1.    Consent.  The
      Obligors shall have obtained your written consent as evidenced by your signature
      at the foot of this Amendment No. 7.

     

        Section 3.2.    Payment
      of
      Fees and Expenses.  The reasonable fees and disbursements of
      Chapman and Cutler, LLP your special counsel, relating to the preparation,
      execution and delivery of this Amendment No. 7 and related matters shall
      have been paid by the Company to the extent reflected in a statement of such
      counsel rendered to the Company.

     

        Section 3.3.    Revised
      Intercreditor Agreement.  Each of the parties thereto shall have
      executed and delivered the Revised Intercreditor Agreement in the form attached
      hereto as Exhibit A, which Revised Intercreditor Agreement will be
      satisfactory to you in scope and form.

     

        Section
      3.4.    Representations
      and
      Warranties.  The representations and warranties of each of the
      Obligors in this Amendment No. 7 shall be correct when made and at the time
      of the Closing.

     

        Section 3.5.    Proceedings
      and Documents.  All corporate or limited liability company or
      limited partnership and other proceedings in connection with the transactions
      contemplated by this Amendment No. 7 and all documents and instruments
      incident to such transactions shall be satisfactory to you and your special
      counsel, and you and your special counsel shall have received all such
      counterpart originals or certified or other copies of such documents as you
      or
      they may reasonably request.

     

    
      Section 4.    Miscellaneous
        Provisions.

    

     

        Section 4.1.    Except
      as
      amended herein, all terms and provisions of the Existing Note Agreements and
      the
      Notes and related agreements and instruments are hereby ratified, confirmed
      and
      approved in all respects.

        

        Section 4.2.    Any
      and all
      notices, requests, certificates and other instruments, including the Notes,
      may
      refer to the Note Agreements without making specific reference to this Amendment
      No. 7, but nevertheless all such references shall be deemed to include this
      Amendment No. 7 unless the context shall otherwise require.

     

        Section 4.3.    This
      Amendment No. 7 and all covenants herein contained shall be binding upon and
      inure to the benefit of the respective successors and assigns of the parties
      hereunder.  All covenants made by the Obligors herein shall survive
      the closing and the delivery of this Amendment No. 7.

     

        Section 4.4.    This
      Amendment No. 7 shall be governed by and construed in accordance with Nebraska
      law.

     

        Section 4.5.    The
      capitalized terms used in this Amendment No. 7 shall have the respective
      meanings specified in the Note Agreements unless otherwise herein defined,
      or
      the context hereof shall otherwise require.

     

    The
      execution hereof by the Holders shall constitute a contract among the Obligors
      and the Holders for the uses and purposes hereinabove set forth.  This
      Amendment No. 7 may be executed in any number of counterparts, each executed
      counterpart constituting an original but all together only one
      agreement.

     

    [The
      Remainder of this Page Intentionally Left Blank; Signature Pages
      follow]

     

    

    

    

    

    
      
        
        

      

      
        -4-

        
          

        

      

      
        
        

      

    

    

    
      	 	
              Cabela’s
                Incorporated

              Cabela’s
                Catalog, Inc.

              Cabela’s
                Retail, Inc.

              Cabela’s
                Outdoor Adventures, Inc.

              Cabelas.com,
                Inc.

              Cabela’s
                Wholesale, Inc.

              Cabela’s
                Ventures, Inc.

              Wild
                Wings, LLC

              Cabela’s
                Lodging, LLC

              Cabela’s
                Marketing and Brand Management, Inc.

              Cabela’s
                Retail LA, LLC

              Original
                Creations, LLC

              Cabela’s
                Trophy Properties, LLC

              Cabela’s
                Retail GP, LLC

              Legacy
                Trading Company

              CRLP,
                LLC

              Cabela’s
                Retail MO, LLC

              Cabela’s
                Retail IL, Inc.

            
	 
	 	
              By:

            	
              /s/
                Ralph W. Castner

            
	 	
              Name:

            	
              Ralph
                W. Castner

            
	 	
              Title:

            	
              Vice
                President, CFO, Secretary or Treasurer

            
	 
	 	
              Van
                Dyke Supply Company, Inc.

            
	 
	 	
              By:

            	
              /s/
                Gregg Severinson

            
	 	
              Name:

            	
              Gregg
                Severinson

            
	 	
              Title:

            	
              Vice
                President

            
	 
	 	
              Cabela’s
                Retail TX, L.P.

            
	 
	 	
              By:

            	
              Cabela’s
                Retail GP, LLC

            
	 	
              Its:

            	
              General
                Partner

            
	 
	 	
              By:

            	
              /s/
                Ralph W. Castner

            
	 	
              Name:

            	
              Ralph
                W. Castner

            
	 	
              Title:

            	
              Secretary
                and Treasurer

            

    

    

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    
      	
              Accepted
                as of the Seventh Amendment Closing Date.

            
	 
	 	
              United
                of Omaha Life Insurance Company

            
	 
	 
	 	
              By:

            	
              /s/
                Curtis R. Caldwell

            
	 	
              Its:

            	
              Vice
                President

            
	 
	 
	 
	 	
              Companion
                Life Insurance Company

            
	 
	 
	 	
              By:

            	
              /s/
                Curtis R. Caldwell

            
	 	
              Its:

            	
              Authorized
                Signer

            
	 
	 
	 
	 	
              Mutual
                of Omaha Insurance Company

            
	 
	 
	 	
              By:

            	
              /s/
                Curtis R. Caldwell

            
	 	
              Its:

            	
              Vice
                President

            

    

     

    

     

    Back
      to
      Form 8-Kexhibit4_7.htm

    
      

    

     

    Exhibit
      4.7

    

     

    [Form
      of Note]

     

    Cabela’s
      Incorporated

    Cabela’s
      Catalog, Inc.

    Cabela’s
      Retail, Inc.

    Cabela’s
      Outdoor Adventures, Inc.

    Cabelas.com,
      Inc.

    Cabela’s
      Wholesale, Inc.,

    Cabela’s
      Ventures, Inc.

    Wild
      Wings, LLC

    Cabela’s
      Lodging, LLC

    Van
      Dyke Supply Company, Inc.

    Cabela’s
      Marketing and Brand Management, Inc.

    Cabela’s
      Retail LA, LLC

    Cabela’s
      Trophy Properties, LLC

    Original
      Creations, LLC

    Cabela’s
      Retail TX, L.P.

    Cabela’s
      Retail GP, LLC

    Legacy
      Trading Company

    CRLP,
      LLC

    Cabela’s
      Retail MO, LLC

    Cabela’s
      Retail IL, Inc.

     

    5.99%
      Senior Note, Series 2006-A, due February 27, 2016

     

    
      	
              No.
                [________]

            	
              [Date]

            
	
              $[________]

            	
              PPN 12681# AA 5

            

    

     

        For
      Value
      Received, the undersigned, Cabela’s Incorporated (herein called the
“Company”), a corporation organized and existing under the laws of the
      State of Delaware, and the subsidiaries of the Company consisting of
      (i) Cabela’s Catalog, Inc., (ii) Cabela’s Retail, Inc.,
      (iii) Cabela’s Outdoor Adventures, Inc., (iv) Cabelas.com, Inc.,
      (v)  Cabela’s Wholesale, Inc., (vi) Cabela’s Ventures, Inc.,
      (vii) Wild Wings, LLC, (viii) Cabela’s Lodging, LLC, (ix) Van
      Dyke Supply Company, Inc., (x) Cabela’s Marketing and Brand Management, Inc.,
      (xi) Cabela’s Retail LA, LLC, (xii) Cabela’s Trophy Properties, LLC,
      (xiii) Original Creations, LLC, (xiv) Cabela’s Retail TX, L.P.,
      (xv) Cabela’s Retail GP, LLC, (xvi) Legacy Tracing Company,
      (xvii) CRLP, LLC, (xviii) Cabela’s Retail MO, LLC, and
      (xix) Cabela’s Retail IL, Inc. (the Subsidiaries together with the Company
      being herein referred to collectively as the “Obligors”) hereby jointly
      and severally promise to pay to [___________], or registered assigns, the
      principal sum of [______________] on February 27, 2016 with interest
      (computed on the basis of a 360-day year of twelve 30-day months) (a) on
      the unpaid balance thereof at the rate of 5.99% per annum from the date hereof,
      payable semiannually, on the 27th day of each February and August in each year,
      commencing with the February 27 or August 27 next succeeding the date
      hereof, until
      the
      principal hereof shall have become due and payable, and (b) to the extent
      permitted by law on any overdue payment (including any overdue prepayment)
      of
      principal, any overdue payment of interest and any overdue payment of any
      Make-Whole Amount (as defined in the Note Purchase Agreements referred to
      below), payable semiannually as aforesaid (or, at the option of the registered
      holder hereof, on demand), at a rate per annum from time to time equal to the
      greater of (i) 7.99% or (ii) 2.00% over the rate of interest publicly
      announced by US Bank, N.A. from time to time in Lincoln, Nebraska as its “base”
or “prime” rate.  Notwithstanding anything in the current paragraph,
      the Obligors agree that interest shall accrue as of February 27,
      2007.

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    Payments
      of principal of, interest on and any Make-Whole Amount with respect to this
      Note
      are to be made in lawful money of the United States of America at US Bank,
      N.A.
      or at such other place in the United States as the Company shall have designated
      by written notice to the holder of this Note as provided in the Note Purchase
      Agreements referred to below.

     

    This
      Series 2006-A Note is one of a series of Senior Notes (herein called the
“Notes”) issued pursuant to separate Note Purchase Agreements, dated as
      of February 27, 2006 (as from time to time amended, the “Note Purchase
      Agreements”), between the Obligors and the respective Purchasers named
      therein and is entitled to the benefits thereof.  Each holder of this
      Note will be deemed, by its acceptance hereof, (i) to have agreed to the
      confidentiality provisions set forth in Section 20 of the Note Purchase
      Agreements and (ii) to have made the representation set forth in
      Section 6.2 of the Note Purchase Agreements, provided that such
      holder may (in reliance upon information provided by the Company, which shall
      not be unreasonably withheld) make a representation to the effect that the
      purchase by such holder of any Note will not constitute a non-exempt prohibited
      transaction under section 406(a) of ERISA.

     

    This
      Series 2006-A Note is a registered Note and, as provided in the Note
      Purchase Agreements, upon surrender of this Note for registration of transfer,
      duly endorsed, or accompanied by a written instrument of transfer duly executed,
      by the registered holder hereof or such holder’s attorney duly authorized in
      writing, a new Series 2006-A Note for a like principal amount will be
      issued to, and registered in the name of, the transferee.  Prior to
      due presentment for registration of transfer, the Obligors may treat the person
      in whose name this Series 2006-A Note is registered as the owner hereof for
      the purpose of receiving payment and for all other purposes, and the Obligors
      will not be affected by any notice to the contrary.

     

    This
      Note
      is subject to optional prepayment, in whole or from time to time in part, at
      the
      times and on the terms specified in the Note Purchase Agreements, but not
      otherwise.

     

    If
      an
      Event of Default, as defined in the Note Purchase Agreements, occurs and is
      continuing, the principal of this Note may be declared or otherwise become
      due
      and payable in the manner, at the price (including any applicable Make-Whole
      Amount) and with the effect provided in the Note Purchase
      Agreements.

    
      
        
        

      

      
        -2-

        
          

        

      

      
        
        

      

    

     

    This
      Note
      shall be construed and enforced in accordance with, and the rights of the
      parties shall be governed by, the law of the State of Nebraska excluding
      choice-of-law principles of law of such State that would require the application
      of the laws of a jurisdiction other than such State.

    

    
      	 	
              Cabela’s
                Incorporated

              Cabela’s
                Catalog, Inc.

              Cabela’s
                Retail, Inc.

              Cabela’s
                Outdoor Adventures, Inc.

              Cabelas.com,
                Inc.

              Cabela’s
                Wholesale, Inc.

              Cabela’s
                Ventures, Inc.

              Wild
                Wings, LLC

              Cabela’s
                Lodging, LLC

              Van
                Dyke Supply Company, Inc.

              Cabela’s
                Marketing and Brand Management, Inc.

              Cabela’s
                Retail LA, LLC

              Original
                Creations, LLC

              Cabela’s
                Retail GP, LLC

              Legacy
                Trading Company

              CRLP,
                LLC

              Cabela’s
                Retail MO, LLC

              Cabela’s
                Retail IL, Inc.

            
	 
	 	
              By:

            	 
	 	
              Name:

            	
              Ralph
                W. Castner

            
	 	
              Title:

            	
              Vice
                President, CFO, Secretary or Treasurer

            
	 
	 	
              Cabela’s
                Trophy Properties, LLC

            
	 
	 	
              By:

            	 
	 	
              Name:

            	
              Gregg
                Severinson

            
	 	
              Title:

            	
              Vice
                President

            
	 
	 	
              Cabela’s
                Retail TX, L.P.

            
	 
	 	
              By:

            	
              Cabela’s
                Retail GP, LLC

            
	 	
              Its:

            	
              General
                Partner

            
	 
	 	
              By:

            	 
	 	
              Name:

            	
              Ralph
                W. Castner

            
	 	
              Title:

            	
              Secretary
                and Treasurer

            

    

    

    
 

    Back
      to Form 8-K

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