Document:

Exhibit 10.6

 

GUARANTY (UNLIMITED)

 

In consideration of Citizens
Bank of Massachusetts as Agent for the benefit of and on behalf of all of the
Lenders, as such term is defined in that certain Fifth Amended and Restated
Loan Agreement dated as of June 29, 2001, as the same has been amended and may
hereafter be amended (collectively, the “Loan Agreement”) between The J. Jill
Group, Inc., a Delaware corporation (“J. Jill” or “Borrower”) on the one hand,
and the several financial institutions (“Lenders”) from time to time party
thereto (Citizens Bank of Massachusetts being one of them) and Citizens Bank of
Massachusetts as Agent thereunder (hereinafter called the “Agent”) on behalf of
the Lenders extending credit or otherwise in its discretion giving time, financial
or other accommodations, whether now existing or hereafter arising, to Borrower
including, without limitation, those arising pursuant to the Loan Agreement,
the undersigned (hereinafter called the “Guarantor”) hereby unconditionally
guarantees to the Agent on behalf of the Lenders that (a) the Borrower will
duly and punctually pay or perform, at the Agent’s offices at 28 State Street,
Boston, Massachusetts 02109 all indebtedness, obligations and liabilities,
direct or indirect, matured or unmatured, primary or secondary, certain or
contingent, of the Borrower to the Agent, now, or hereafter owing or incurred
(including without limitation reasonable costs and expenses incurred by the
Agent or Lenders in attempting to collect or enforce any of the foregoing)
which are chargeable to the Borrower either by law or under the terms of the
Agent’s and Lenders’ arrangements with the Borrower (collectively the “Obligations”
and individually an “Obligation”); and (b) if there is an agreement or
instrument evidencing or executed and delivered in connection with any
Obligation, the Borrower will perform in all other respects strictly in
accordance with the terms thereof.

 

This Guaranty is an absolute, unconditional and continuing guaranty of
the full and punctual payment and performance by the Borrower of the
Obligations and not of their collectibility only and is in no way conditioned
upon any requirement that the Agent or Lenders first attempt to collect any of
the Obligations from the Borrower or any other party primarily or secondarily
liable with respect thereto or resort to any security or other means of
obtaining payment of any of the Obligations which the Agent or Lenders now has
or may acquire after the date hereof, or upon any other contingency whatsoever.

 

Upon any default (a “Default”) by the Borrower in the full and punctual
payment and performance of the Obligations, the liabilities and obligations of
the Guarantor hereunder shall, at the option of the Agent, become forthwith due
and payable to the Agent without demand or notice of any nature, all of which
are expressly waived by the Guarantor. 
Payments by the Guarantor hereunder may be required by the Agent or
Lenders on any number of occasions.  The
Guarantor further agrees, as the principal obligor and not as a guarantor only,
to pay to the Agent on behalf of Lenders forthwith upon demand, in funds
immediately available to the Agent, all reasonable costs and expenses
(including court costs and reasonable legal expenses) incurred or expended by
the Agent and the Lenders in connection with this Guaranty and the enforcement
hereof, together with interest on amounts recoverable under this Guaranty from
the time such amounts become due until payment at the rate then in force under
the instruments evidencing the extension of credit, financial or other
accommodations between Borrower and Agent and Lenders.

 

 

The liability of the Guarantor hereunder shall be unlimited in amount.

 

The Guarantor grants to the Agent on behalf of the Lenders, as security
for the full and punctual payment and performance of the Guarantor’s
obligations hereunder, a continuing lien on and security interest in all
securities or other property belonging to the Guarantor now or hereafter held
by the Agent or Lenders and in all deposits and other sums credited by or due
from the Agent or Lenders to the Guarantor or subject to withdrawal by the
Guarantor; and regardless of the adequacy of any collateral or other means of
obtaining repayment of the Obligations, the Agent or Lenders may at any time
and without notice to the Guarantor after Default set off the whole or any
portion or portions of any or all such deposits and other sums against amounts
payable under this Guaranty, whether or not any other person or persons could
also withdraw money therefrom.

 

The Agent and Lenders shall be at liberty, without giving notice to or
obtaining the assent of the Guarantor and without relieving the Guarantor of
any liability hereunder, to deal with the Borrower and with each other party
who now is or after the date hereof becomes liable in any manner for any of the
Obligations, in such manner as the Agent or Lenders in their sole discretion
deem fit, and to this end the Guarantor gives to the Agent or Lenders full
authority in their sole discretion to do any or all of the following
things:  (a) extend credit, make loans
and afford other financial accommodations to the Borrower at such times, in
such amounts and on such terms as the Agent or Lenders may approve; (b) vary
the terms and grant extensions or renewals of any present or future
indebtedness or obligation to the Agent or Lenders of the Borrower or of any
such other party; (c) grant time, waivers and other indulgences in respect
thereto; (d) vary, exchange, release or discharge, wholly or partially, or
delay in or abstain from perfecting and enforcing any security or guaranty or
other means of obtaining payment of any of the Obligations which the Agent or
Lenders now have or acquire after the date hereof; (e) accept partial payments
from the Borrower or any such other party; (f) release or discharge, wholly or
partially, any endorser or guarantor; and (g) compromise or make any settlement
or other arrangement with the Borrower or any such other party.

 

If for any reason the Borrower has no legal existence or is under no
legal obligation to discharge any of the Obligations undertaken or purported to
be undertaken by it or on its behalf, or if any of the moneys included in the
Obligations have become unrecoverable from the Borrower by operation of law or for
any other reason, this Guaranty shall nevertheless be binding on the Guarantor
to the same extent as if the Guarantor at all times had been the principal
debtor on all such Obligations.  This
Guaranty shall be in addition to any other guaranty or other security for the
Obligations, and it shall not be prejudiced or rendered unenforceable by the
invalidity of any such other guaranty or security.  Notwithstanding any payment by the Borrower
to the Agent or the Lenders of the whole or any portion of the Obligations, if
the Agent or Lenders shall be required to pay any amount so paid to the Agent
or Lenders to a Trustee in Bankruptcy of the Borrower, the Guarantor shall
remain liable for any sums so paid to said Trustee.

 

The Guarantor waives notice of acceptance hereof, notice of any action
taken or omitted by the Agent or Lenders in reliance hereon, and any
requirement that the Agent or Lenders be diligent or prompt in making demands
hereunder, giving notice of any default by the Borrower or asserting any other
right of the Agent or Lenders hereunder. 
The Guarantor also irrevocably

 

2

 

waives, to the fullest extent permitted by law, all defenses which at
any time may be available in respect of the Guarantor’s Obligations hereunder
by virtue of any homestead exemption, statute of limitations, valuation, stay,
moratorium law or other similar law now or hereafter in effect.

 

So long as any Obligation remains unpaid or undischarged, the Guarantor
will not, by paying any sum recoverable hereunder (whether or not demanded by
the Agent or Lenders) or by any means or on any other ground, claim any set-off
or counterclaim against the Borrower in respect of any liability of the
Guarantor to the Borrower or, in proceedings under the Bankruptcy Code or
insolvency proceedings of any nature, prove in competition with the Agent or
Lenders in respect of any payment hereunder or be entitled to have the benefit
of any counterclaim or proof of claim or dividend or payment by or on behalf of
the Borrower or the benefit of any other security for any Obligation which, now
or hereafter, the Agent or Lenders may hold or in which it may have any share
or have any right of subrogation, reimbursement or indemnity or right of
recourse to any security which the Agent or Lenders may have or hold with
respect to the Obligations.

 

Any demand on or notice to the Guarantor shall be in writing and shall
be effective when handed to the Guarantor or left at or mailed or sent by
telegraph to the Guarantor’s usual or last-known address.

 

No provision of this Guaranty can be changed, waived or discharged
except by an instrument in writing signed by the Agent on behalf of Lenders and
the Guarantor expressly referring to the provision of this Guaranty to which
such instrument relates, and no such waiver shall extend to, affect, or impair
any right with respect to any Obligation which is not expressly dealt with
therein.  No course of dealing or delay
or omission on the part of the Agent or Lenders in exercising any right shall
operate as a waiver thereof or otherwise be prejudicial thereto.

 

This Guaranty is intended to take effect as a sealed instrument to be
governed by and construed in accordance with the laws of The Commonwealth of
Massachusetts and shall inure to the benefit of the Agent, the Lenders and
their respective successors in title and assigns, and shall be binding on the
Guarantor and the Guarantor’s successors and assigns.

 

 

[Remainder of page intentionally left blank.]

 

3

 

IN WITNESS WHEREOF, the Guarantor has executed this Guaranty as of the
27th day of December, 2004.

 

 

	
  WITNESS:

  	
   

  	
  J. JILL, LLC

  
	
   

  	
   

  	
   

  
	
  /s/ Mara D. Calame

  	
   

  	
   

  	
  By:

  	
  /s/ Olga L. Conley

  	
   

  
	
   

  	
   

  	
   

  	
  Olga L. Conley, Manager

  
						

 

4Exhibit 10.7

 

GUARANTY (UNLIMITED)

 

In consideration of Citizens
Bank of Massachusetts as Agent for the benefit of and on behalf of all of the
Lenders, as such term is defined in that certain Fifth Amended and Restated
Loan Agreement dated as of June 29, 2001, as the same has been amended and may
hereafter be amended (collectively, the “Loan Agreement”) between The J. Jill
Group, Inc., a Delaware corporation (“J. Jill” or “Borrower”) on the one hand,
and the several financial institutions (“Lenders”) from time to time party
thereto (Citizens Bank of Massachusetts being one of them) and Citizens Bank of
Massachusetts as Agent thereunder (hereinafter called the “Agent”) on behalf of
the Lenders extending credit or otherwise in its discretion giving time, financial
or other accommodations, whether now existing or hereafter arising, to Borrower
including, without limitation, those arising pursuant to the Loan Agreement,
the undersigned (hereinafter called the “Guarantor”) hereby unconditionally
guarantees to the Agent on behalf of the Lenders that (a) the Borrower will
duly and punctually pay or perform, at the Agent’s offices at 28 State Street,
Boston, Massachusetts 02109 all indebtedness, obligations and liabilities,
direct or indirect, matured or unmatured, primary or secondary, certain or
contingent, of the Borrower to the Agent, now, or hereafter owing or incurred
(including without limitation reasonable costs and expenses incurred by the
Agent or Lenders in attempting to collect or enforce any of the foregoing)
which are chargeable to the Borrower either by law or under the terms of the
Agent’s and Lenders’ arrangements with the Borrower (collectively the “Obligations”
and individually an “Obligation”); and (b) if there is an agreement or
instrument evidencing or executed and delivered in connection with any
Obligation, the Borrower will perform in all other respects strictly in
accordance with the terms thereof.

 

This Guaranty is an absolute,
unconditional and continuing guaranty of the full and punctual payment and
performance by the Borrower of the Obligations and not of their collectibility
only and is in no way conditioned upon any requirement that the Agent or
Lenders first attempt to collect any of the Obligations from the Borrower or
any other party primarily or secondarily liable with respect thereto or resort
to any security or other means of obtaining payment of any of the Obligations
which the Agent or Lenders now has or may acquire after the date hereof, or
upon any other contingency whatsoever.

 

Upon any default (a “Default”)
by the Borrower in the full and punctual payment and performance of the
Obligations, the liabilities and obligations of the Guarantor hereunder shall,
at the option of the Agent, become forthwith due and payable to the Agent without
demand or notice of any nature, all of which are expressly waived by the
Guarantor.  Payments by the Guarantor
hereunder may be required by the Agent or Lenders on any number of occasions.  The Guarantor further agrees, as the
principal obligor and not as a guarantor only, to pay to the Agent on behalf of
Lenders forthwith upon demand, in funds immediately available to the Agent, all
reasonable costs and expenses (including court costs and reasonable legal
expenses) incurred or expended by the Agent and the Lenders in connection with
this Guaranty and the enforcement hereof, together with interest on amounts
recoverable under this Guaranty from the time such amounts become due until
payment at the rate then in force under the instruments evidencing the
extension of credit, financial or other accommodations between Borrower and
Agent and Lenders.

 

 

The liability of the Guarantor
hereunder shall be unlimited in amount.

 

The Guarantor grants to the
Agent on behalf of the Lenders, as security for the full and punctual payment
and performance of the Guarantor’s obligations hereunder, a continuing lien on
and security interest in all securities or other property belonging to the
Guarantor now or hereafter held by the Agent or Lenders and in all deposits and
other sums credited by or due from the Agent or Lenders to the Guarantor or
subject to withdrawal by the Guarantor; and regardless of the adequacy of any
collateral or other means of obtaining repayment of the Obligations, the Agent
or Lenders may at any time and without notice to the Guarantor after Default
set off the whole or any portion or portions of any or all such deposits and
other sums against amounts payable under this Guaranty, whether or not any
other person or persons could also withdraw money therefrom.

 

The Agent and Lenders shall be
at liberty, without giving notice to or obtaining the assent of the Guarantor
and without relieving the Guarantor of any liability hereunder, to deal with
the Borrower and with each other party who now is or after the date hereof
becomes liable in any manner for any of the Obligations, in such manner as the
Agent or Lenders in their sole discretion deem fit, and to this end the
Guarantor gives to the Agent or Lenders full authority in their sole discretion
to do any or all of the following things: 
(a) extend credit, make loans and afford other financial accommodations
to the Borrower at such times, in such amounts and on such terms as the Agent
or Lenders may approve; (b) vary the terms and grant extensions or renewals of
any present or future indebtedness or obligation to the Agent or Lenders of the
Borrower or of any such other party; (c) grant time, waivers and other
indulgences in respect thereto; (d) vary, exchange, release or discharge,
wholly or partially, or delay in or abstain from perfecting and enforcing any
security or guaranty or other means of obtaining payment of any of the
Obligations which the Agent or Lenders now have or acquire after the date
hereof; (e) accept partial payments from the Borrower or any such other party;
(f) release or discharge, wholly or partially, any endorser or guarantor; and
(g) compromise or make any settlement or other arrangement with the Borrower or
any such other party.

 

If for any reason the Borrower
has no legal existence or is under no legal obligation to discharge any of the
Obligations undertaken or purported to be undertaken by it or on its behalf, or
if any of the moneys included in the Obligations have become unrecoverable from
the Borrower by operation of law or for any other reason, this Guaranty shall
nevertheless be binding on the Guarantor to the same extent as if the Guarantor
at all times had been the principal debtor on all such Obligations.  This Guaranty shall be in addition to any
other guaranty or other security for the Obligations, and it shall not be
prejudiced or rendered unenforceable by the invalidity of any such other
guaranty or security.  Notwithstanding
any payment by the Borrower to the Agent or the Lenders of the whole or any
portion of the Obligations, if the Agent or Lenders shall be required to pay
any amount so paid to the Agent or Lenders to a Trustee in Bankruptcy of the
Borrower, the Guarantor shall remain liable for any sums so paid to said
Trustee.

 

The Guarantor waives notice of
acceptance hereof, notice of any action taken or omitted by the Agent or
Lenders in reliance hereon, and any requirement that the Agent or Lenders be
diligent or prompt in making demands hereunder, giving notice of any default by
the Borrower or asserting any other right of the Agent or Lenders
hereunder.  The Guarantor also
irrevocably

 

2

 

waives, to the fullest extent
permitted by law, all defenses which at any time may be available in respect of
the Guarantor’s Obligations hereunder by virtue of any homestead exemption,
statute of limitations, valuation, stay, moratorium law or other similar law
now or hereafter in effect.

 

So long as any Obligation
remains unpaid or undischarged, the Guarantor will not, by paying any sum
recoverable hereunder (whether or not demanded by the Agent or Lenders) or by
any means or on any other ground, claim any set-off or counterclaim against the
Borrower in respect of any liability of the Guarantor to the Borrower or, in
proceedings under the Bankruptcy Code or insolvency proceedings of any nature,
prove in competition with the Agent or Lenders in respect of any payment
hereunder or be entitled to have the benefit of any counterclaim or proof of
claim or dividend or payment by or on behalf of the Borrower or the benefit of
any other security for any Obligation which, now or hereafter, the Agent or
Lenders may hold or in which it may have any share or have any right of
subrogation, reimbursement or indemnity or right of recourse to any security
which the Agent or Lenders may have or hold with respect to the Obligations.

 

Any demand on or notice to the
Guarantor shall be in writing and shall be effective when handed to the
Guarantor or left at or mailed or sent by telegraph to the Guarantor’s usual or
last-known address.

 

No provision of this Guaranty
can be changed, waived or discharged except by an instrument in writing signed
by the Agent on behalf of Lenders and the Guarantor expressly referring to the
provision of this Guaranty to which such instrument relates, and no such waiver
shall extend to, affect, or impair any right with respect to any Obligation
which is not expressly dealt with therein. 
No course of dealing or delay or omission on the part of the Agent or
Lenders in exercising any right shall operate as a waiver thereof or otherwise
be prejudicial thereto.

 

This Guaranty is intended to
take effect as a sealed instrument to be governed by and construed in
accordance with the laws of The Commonwealth of Massachusetts and shall inure
to the benefit of the Agent, the Lenders and their respective successors in
title and assigns, and shall be binding on the Guarantor and the Guarantor’s
successors and assigns.

 

 

[Remainder of page intentionally left blank.]

 

3

 

IN WITNESS WHEREOF, the
Guarantor has executed this Guaranty as of the 27th day of December, 2004.

 

 

	
  WITNESS:

  	
   

  	
  J.J.
  COMPANY, INC.

  
	
   

  	
   

  	
   

  
	
  /s/ Mara D.
  Calame

  	
   

  	
   

  	
  By:

  	
  /s/ Olga L. Conley

  	
   

  
	
   

  	
   

  	
  Name: Olga
  L. Conley

  
	
   

  	
   

  	
  Title:
  President

  
						

 

4

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00076-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00076-of-00352.parquet"}]]