Document:

ex4-1.htm

Exhibit 4.1

 

 

FIRST AMENDMENT TO CREDIT AGREEMENT

 

THIS FIRST AMENDMENT TO CREDIT AGREEMENT (this “Amendment”), dated as of December 27, 2012, is by and among UNIFI, INC., a New York corporation (“Parent”), UNIFI MANUFACTURING, INC., a North Carolina corporation (“Unifi Manufacturing”; Unifi Manufacturing and Parent are herein collectively called the “Borrowers” and each individually a “Borrower”), THE PERSONS IDENTIFIED AS THE LENDERS ON THE SIGNATURE PAGES HERETO (the “Lenders”), and WELLS FARGO BANK, N.A., a national banking association (“Wells Fargo”), as agent for the Lenders (in such capacity, together with its successors and assigns in such capacity,  “Agent”).

 

W I T N E S S E T H:

 

WHEREAS, pursuant to the Credit Agreement dated as of May 24, 2012 (“Existing Credit Agreement”) among Borrowers, the Lenders, and Wells Fargo, in its capacity as Agent, Lead Arranger and Book Runner, the Lenders have extended commitments to make certain credit facilities available to Borrowers; and

 

WHEREAS, the parties hereto have agreed to amend the Existing Credit Agreement as set forth herein.

 

NOW, THEREFORE, in consideration of the agreements herein contained and other good and valuable consideration, the parties hereby agree as follows:

 

PART  I.

DEFINITIONS

 

SUBPART 1.1  Certain Definitions. Unless otherwise defined herein or the context otherwise requires, the following terms used in this Amendment, including its preamble and recitals, have the following meanings:

 

“Amended Credit Agreement” means the Existing Credit Agreement as amended hereby.

 

“First Amendment Effective Date” shall have the meaning set forth in Subpart 3.1.

 

SUBPART 1.2.  Other Definitions. Unless otherwise defined herein or the context otherwise requires, terms used in this Amendment, including its preamble and recitals, have the meanings provided in the Amended Credit Agreement.

 

PART  II.

AMENDMENT TO EXISTING CREDIT AGREEMENT

 

SUBPART 2.1  Amendment to Schedule 1.1 (Fixed Charges).  Effective on (and subject to the occurrence of) the First Amendment Effective Date, Schedule 1.1 to the Existing Credit Agreement is hereby amended by deleting the definition of “Fixed Charges” set forth therein in its entirety and replacing it with the following:

 

“Fixed Charges” means, with respect to any fiscal period of the Loan Parties on a Consolidated Basis, without duplication, the sum of (a) cash Interest Expense plus (b) scheduled principal payments on the Term Loan plus (c) all principal payments (whether scheduled or not) on other Funded Indebtedness (excluding, however, principal payments on the Revolving Loans), as determined in accordance with GAAP; provided, that, notwithstanding the foregoing, (i) the amount of Fixed Charges for each fiscal month ending on or prior to May 27, 2012 shall mean the amount set forth for such fiscal month on Schedule F-1 to the Agreement, and (ii) the amount of Fixed Charges shall not include the Permitted MacKay Shields Prepayment made after December 25, 2012 and prior to February 4, 2013, in an amount not to exceed $13,800,000.

 

  

 

  

 

PART  III.

CONDITIONS TO EFFECTIVENESS OF PART II

 

SUBPART 3.1  First Amendment Effective Date. Part II of this Amendment shall be and become effective as of December 27, 2012 (the “First Amendment Effective Date”), subject to the conditions set forth in this Part III having been satisfied (it being understood and agreed that the remainder of this Amendment shall be effective upon the execution and delivery hereof by the parties hereto).

 

SUBPART 3.2  Execution of Amendment and Other Documents. Agent shall have received fully executed counterparts of this Amendment.

 

SUBPART 3.3  Officer’s Certificate. Agent shall have received the officer’s certificate required pursuant to the definition of “Permitted MacKay Shields Prepayments”.

 

SUBPART 3.4  Parkdale Distribution. Unifi Manufacturing shall have received distributions with respect to its Equity Interests in the Parkdale JV in an amount not less than $4,000,000 on a date after December 25, 2012 and prior to February 4, 2013 and Borrowers shall have delivered to Agent an officer’s certificate as to the satisfaction of the same.

 

SUBPART 3.5  MacKay Shields Payoff Letter and Lien Releases.  Agent shall have received a letter from the MacKay Shields Agent and/or the MacKay Shields Lenders, as the case may be, respecting the amount necessary to repay in full all of the obligations owing under the MacKay Shields Term Loan Documents and releasing all of the Liens existing in favor of the MacKay Shields Agent and/or the MacKay Shields Lenders in and to the assets of the Loan Parties or their Subsidiaries, including, without limitation, a written notice pursuant to that certain Deposit Account Control Agreement dated as of August 21, 2012 by and among Unifi Manufacturing, Agent, MacKay Shields Agent and Wells Fargo Bank, National Association, as depository bank (“Depository Bank”), from the MacKay Shields Agent to Agent and Depository Bank, stating that Agent will be the “Controlling Agent” thereunder pursuant to the terms thereof.

 

SUBPART 3.6  Amendment Fee. Borrowers shall have paid Agent a non-refundable amendment fee in the amount of $50,000 (it being understood that Agent is hereby authorized to charge Borrowers’ Loan Account for the full amount of such fee on the First Amendment Effective Date and that Agent shall share such fee with the Lenders based on their Pro Rata Share of the Commitments).

 

SUBPART 3.7  Accuracy of Representations and Warranties. Each of Borrowers’ representations and warranties set forth in Section 4.6 hereof shall be true and correct in all respects.

 

PART  IV.

MISCELLANEOUS

 

SUBPART 4.1  No Additional Obligations.  Borrowers acknowledge and agree that the execution, delivery and performance of this Amendment shall not create (nor shall Borrowers rely upon the existence of or claim or assert that there exists) any obligation of any of Agent or Lenders to consider or agree to any other amendment of or waiver or consent with respect to the Amended Credit Agreement or any other instrument or agreement to which Agent or any Lender is a party (collectively, an “Additional Amendment” or “Consent”), and in the event that Agent and the Lenders subsequently agree to consider any requested Additional Amendment or Consent, neither the existence of this Amendment nor any other conduct of Agent or the Lenders related hereto, shall be of any force or effect on the Lenders’ consideration or decision with respect to any such requested Additional Amendment or Consent, and the Lenders shall not have any obligation whatsoever to consider or agree to any such Additional Amendment or Consent.

 

  

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SUBPART 4.2  Waiver of Claims.  In order to induce Agent and Lenders to enter into this Amendment, each Borrower hereby releases, remises, acquits and forever discharges each Lender and Agent and each of their respective employees, agents, representatives, consultants, attorneys, officers, directors, partners, fiduciaries, predecessors, successors and assigns, subsidiary corporations, parent corporations and related corporate divisions (collectively, the “Released Parties”), from any and all actions, causes of action, judgments, executions, suits, debts, claims, demands, liabilities, damages and expenses of any and every character, known or unknown, direct or indirect, at law or in equity, of whatever nature or kind, whether heretofore or hereafter arising, for or because of any manner of things done, omitted or suffered to be done by any of the Released Parties (excluding the gross negligence or willful misconduct of any of the Released Parties), prior to and including the date of execution hereof, and in any way directly or indirectly arising out of any or in any way connected to this Amendment, the Amended Credit Agreement or the other Loan Documents (collectively, the “Released Matters”) provided, that Borrowers shall not be required to increase any such amounts to the extent that the increase in such amount payable results from Agent’s or such Lender’s own willful misconduct or gross negligence.  Each Borrower hereby acknowledges that the agreements in this Subpart 4.2 are intended to be in full satisfaction of all or any alleged injuries or damages arising in connection with the Released Matters.  Each Borrower hereby represents and warrants to each Lender and Agent that it has not purported to transfer, assign or otherwise convey any right, title or interest of any Borrower in any Released Matter to any other Person and that the foregoing constitutes a full and complete release of all Released Matters.

 

SUBPART 4.3  Acknowledgments and Stipulations.  In order to induce Agent and Lenders to enter into this Amendment, each Borrower acknowledges, stipulates and agrees that (a) all of the Obligations are absolutely due and owing by Borrowers to Agent and Lenders in accordance with the terms and provisions of the Amended Credit Agreement without any defense, deduction, offset or counterclaim (and, to the extent any Borrower had any defense, deduction, offset or counterclaim on the date hereof, the same is hereby waived by such Borrower); (b) the Loan Documents executed by each Borrower are legal, valid and binding obligations of such Borrower enforceable against such Borrower in accordance with their respective terms, except as enforcement may be limited by equitable principles or by bankruptcy, insolvency, reorganization, moratorium, or similar laws relating to or limiting creditors’ rights generally; (c) the Liens granted by each Borrower to Agent in the Collateral are valid and duly perfected, first priority Liens, subject only to Permitted Liens; (d) each of the recitals contained at the beginning of this Amendment is true and correct; and (e) prior to executing this Agreement, each Borrower consulted with and had the benefit of advice of legal counsel of their own selection and has relied upon the advice of such counsel, and in no part upon the representation of Agent, any Lender or any counsel to Agent or any Lender concerning the legal effects of this Agreement or any provision hereof.

 

SUBPART 4.4  Cross-References. References in this Amendment to any Part or Subpart are, unless otherwise specified, to such Part or Subpart of this Amendment.

 

SUBPART 4.5  References in Other Credit Documents. At such time as this Amendment shall become effective pursuant to the terms of Subpart 3.1, all references in the Existing Credit Agreement (including without limitation the Schedules thereto) to the “Agreement”, and all references in the other Loan Documents to the “Credit Agreement”, shall be deemed to refer to the Amended Credit Agreement.

 

  

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SUBPART 4.6  Representations and Warranties of Borrowers. Each Borrower hereby represents and warrants that, after giving effect to the amendments and limited waiver contained herein, (a) the representations and warranties contained in Section 4 of the Existing Credit Agreement are correct in all material respects on and as of the date hereof as though made on and as of such date, except to the extent that any such representation or warranty specifically relates to an earlier date, and (b) no Default or Event of Default exists under the Existing Credit Agreement on and as of the date hereof. Without limitation of the preceding sentence, each Borrower hereby expressly re-affirms the validity, effectiveness and enforceability of each Loan Document to which it is a party (in each case, as the same may be modified by the terms of this Amendment).

 

SUBPART 4.7  Counterparts. This Amendment may be executed in any number of counterparts each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. THIS AMENDMENT SUPPLEMENTS, AND FORMS A PART OF, THE EXISTING CREDIT AGREEMENT, BUT (FOR THE AVOIDANCE OF DOUBT) THE PARTIES HERETO IN ANY EVENT SPECIFICALLY AGREE (WITHOUT LIMITATION OF THE FIRST PART OF THIS SENTENCE) THAT THE PROVISIONS OF SECTION 12 OF THE EXISTING CREDIT AGREEMENT APPLY TO THIS AMENDMENT, MUTATIS MUTANDIS.

 

SUBPART 4.8  Successors and Assigns. This Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.

 

[The remainder of this page is intentionally left blank.]

 

  

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Each of the parties hereto has caused a counterpart of this Amendment to be duly executed and delivered as of the date first above written.

 

	 	
UNIFI, INC., a New York corporation, as a Borrower

	 
	 	 	 	 
	 	
By: 

	/s/ CHARLES F. MCCOY	 
	 	Name:	Charles F. McCoy	 
	 	Title:	Vice President and Secretary	 

 

	 	
UNIFI MANUFACTURING, INC., a North Carolina corporation, as a Borrower

	 
	 	 	 	 
	 	
By: 

	/s/ CHARLES F. MCCOY	 
	 	Name:	Charles F. McCoy	 
	 	Title:	Vice President and Secretary	 

 

	 	

WELLS FARGO BANK, NATIONAL ASSOCIATION,

	 
	 	

a national banking association, as Agent and as a Lender

	 
	 	 	 	 
	 	
By: 

	/s/ J. RYAN DAVISON  	 
	 	Name:	J. Ryan Davison	 
	 	Title:	Vice President	 

 

	 	

CIT BANK, a Utah state-chartered bank, as a Lender

	 
	 	 	 	 
	 	
By: 

	 	 
	 	Name:	 	 
	 	Title:	 	 

 

	 	

BANK OF AMERICA, N.A., a national banking association, as a Lender

	 
	 	 	 	 
	 	
By: 

	/s/ ANDREW A. DOHERTY	 
	 	Name:	Andrew A. Doherty	 
	 	Title:	Senior Vice President	 

 

 

 

FIRST AMENDMENT TO CREDIT AGREEMENT

  

  

  

 

GUARANTOR’S ACKNOWLEDGEMENT

 

The undersigned, each a guarantor of the “Obligations” of UNIFI, INC., a New York corporation (“Parent”), UNIFI MANUFACTURING, INC., a North Carolina corporation (“Unifi Manufacturing”; Unifi Manufacturing and Parent are herein collectively called the “Borrowers” and each individually a “Borrower”), under and as defined in that certain Credit Agreement dated as of May 24, 2012 (as amended or modified from time to time, collectively, the “Credit Agreement”) among Borrowers, the lenders party thereto (the “Lenders”), and WELLS FARGO BANK, N.A., as agent for the Lenders (in such capacity, together with its successors and assigns in such capacity, the “Agent”), sole bookrunner and lead arranger, hereby (a) acknowledges receipt of the foregoing First Amendment to Credit Agreement dated as of December 27, 2012 among Borrowers, the Lenders party thereto and Agent (the “Amendment”); (b) consents to the terms and execution thereof; (c) reaffirms its obligations pursuant to the terms of that certain Guaranty and Security Agreement dated as of May 24, 2012 executed by the undersigned in favor of Agent (the “Guaranty”); and (d) acknowledges that Agent and the Lenders may amend, restate, extend, renew or otherwise modify the Credit Agreement and any indebtedness or agreement of Borrowers, or enter into any agreement or extend additional or other credit accommodations to Borrowers, without notifying or obtaining the consent of the undersigned and without impairing the liability of the undersigned under the Guaranty for Borrowers’ present and future Obligations.

 

 

	 	

SPANCO INTERNATIONAL, INC., a North Carolina corporation

	 
	 	 	 	 
	 	
By: 

	/s/ CHARLES F. MCCOY	 
	 	Name:	Charles F. McCoy	 
	 	Title:	Vice President and Secretary	 

 

	 	

UNIFI SALES & DISTRIBUTION, INC., a North Carolina corporation

	 
	 	 	 	 
	 	
By: 

	/s/ CHARLES F. MCCOY	 
	 	Name:	Charles F. McCoy	 
	 	Title:	Vice President and Secretary	 

 

	 	

UNIFI EQUIPMENT LEASING, LLC, a North Carolina limited liability company

	 
	 	 	 	 
	 	
By: 

	/s/ CHARLES F. MCCOY	 
	 	Name:	Charles F. McCoy	 
	 	Title:	Vice President and Secretaryex10-1.htm

Exhibit 10.1

 

SECOND AMENDMENT TO CREDIT AGREEMENT

THIS SECOND AMENDMENT TO  CREDIT AGREEMENT (“Amendment”) is entered into as of December 31, 2012, by and among Rush Truck Centers of Alabama, Inc., Rush Truck Centers of Arizona, Inc., Rush Truck Centers of California, Inc., Rush Medium Duty Truck Centers of Colorado, Inc., Rush Truck Centers of Colorado, Inc., Rush Truck Centers of Florida, Inc., Rush Truck Centers of Georgia, Inc., Rush Truck Centers of New Mexico, Inc., Rush Truck Centers of Oklahoma, Inc., Rush Truck Centers of Tennessee, Inc., Rush Truck Centers of North Carolina, Inc., Rush Truck Centers of Idaho, Inc., Rush Truck Centers of Utah, Inc., and Rush Truck Centers of Oregon, Inc., each a Delaware corporation and Rush Truck Centers of Texas, L.P., a Texas limited partnership (collectively, the “Borrowers” and individually a “Borrower”), Rush Enterprises, Inc., a Texas corporation (“Holdings” or the “Borrower Representative”), Rush Truck Centers of Ohio, Inc., a Delaware corporation (“RTCO”), the Lenders signatory hereto, and General Electric Capital Corporation, a Delaware corporation (“GE Capital”), as Administrative Agent and Collateral Agent for the Lenders (“Agent”).

RECITALS

A.         Borrowers, the other Loan Parties signatory thereto, the Lenders signatory thereto from time to time and Agent are parties to that certain Amended and Restated Credit Agreement, dated as of January 31, 2012 (as amended prior to the date hereof and from time to time hereafter, the “Credit Agreement”).

B.          Holdings intends to acquire certain assets of RTCO;

C.          Borrowers and RTCO have requested that Lenders amend the Credit Agreement to add RTCO as an additional Borrower, and Lenders have agreed to amend the Credit Agreement to add RTCO as an additional Borrower, subject to the terms and conditions hereof;

D.          Section 7.9 of the Credit Agreement provides that in the event any Person becomes a Subsidiary of Holdings after the Closing Date, such Person shall become a Borrower under the Credit Agreement upon Agent’s receipt of a joinder to the Credit Agreement, in form and substance satisfactory to Agent, executed by such Person and satisfaction of certain other conditions set forth in the Credit Agreement.

NOW, THEREFORE, in consideration of the premises and the mutual covenants hereinafter contained, and intending to be legally bound, the parties hereto agree as follows:

 

  

 

  

A.  AMENDMENTS

1.           Joinder of RTCO as Additional Borrower. RTCO hereby acknowledges, agrees and consents to be bound by and comply with all of the terms and conditions of the Credit Agreement as a Borrower, Group Member and Loan Party for all purposes of the Credit Agreement to the full extent as if it had originally executed and delivered the Credit Agreement, and, without limiting the generality of the foregoing, expressly assumes all obligations and liabilities of a Borrower, Group Member and Loan Party thereunder. All references to “Borrower”, “Borrowers”, “Group Members”, “Group Member”, “Loan Parties” or “Loan Party” in the Credit Agreement or this Amendment shall from and after the effective date of this Amendment be deemed to include RCTO.

2.           Amendment to Schedule 4.3. Schedule 4.3 to the Credit Agreement is amended by replacing such Exhibit with Schedule 4.3 attached as Exhibit A to this Amendment.

B.           CONDITIONS TO EFFECTIVENESS

Notwithstanding any other provision of this Amendment and without affecting in any manner the rights of the Lenders hereunder, it is understood and agreed that this Amendment shall not become effective, and RTCO shall have no rights under this Amendment or the Credit Agreement, until Agent shall have received duly executed signature pages to this Amendment from the Required Lenders, Borrowers, RTCO, Agent and each Loan Party, and Agent shall have received the following documents in form and substance satisfactory to Agent and, where applicable, duly executed by an authorized representative of RTCO:

	
  

	
(1)

	
Secretary’s Certificate of RTCO, together with incumbency and Board of Directors Resolutions authorizing the execution, delivery and performance of this Amendment, the Joinder Agreement (as defined below) and the Credit Agreement;

	
  

	
(2)

	
Good Standing Certificate of RTCO from the Secretary of State of Delaware;

	
  

	
(3)

	
Certified copy of Articles of Incorporation of RTCO;

	
  

	
(4)

	
Joinder Agreement to the Guaranty Agreement (“Joinder Agreement”) executed by RTCO, in form and substance satisfactory to Agent; and

	
  

	
(5)

	
Such other documents as Agent shall reasonably require, including, without limitation, copies of insurance certificates covering RTCO, UCC financing statements and other filings granting Agent security interest in all Collateral of RTCO, releases from current creditors of RTCO and/or subordination/intercreditor agreements from RTCO’s senior creditors, if applicable.

 

  

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C.  REPRESENTATIONS

Each Loan Party hereby represents and warrants to Lenders and Agent that:

1.           Each Group Member (a) is duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization, (b) is duly qualified to do business as a foreign entity and in good standing under the laws of each jurisdiction where such qualification is necessary, except where the failure to be so qualified or in good standing would not, in the aggregate, have a Material Adverse Effect, (c) has all requisite corporate or limited partnership power, as applicable, and authority and the legal right to own, pledge, mortgage and operate its property, to lease or sublease any property it operates under lease or sublease and to conduct its business as now or currently proposed to be conducted, (d) is in compliance in all material respects with its Constituent Documents, (e) is in compliance with all applicable Requirements of Law, except where the failure to be in compliance would not have a Material Adverse Effect and (f) has all necessary Permits from or by, has made all necessary filings with, and has given all necessary notices to, each Governmental Authority having jurisdiction, to the extent required for such ownership, lease, sublease, operation, occupation or conduct of business, except where the failure to obtain such Permits, make such filings or give such notices would not, in the aggregate, have a Material Adverse Effect.  The Borrowers are engaged in the business of selling Inventory at retail.

2.           The execution, delivery and performance by each Loan Party of this Amendment (i) are within such Loan Party’s corporate or similar powers and, at the time of execution thereof, have been duly authorized by all necessary corporate and similar action (including, if applicable, consent of holders of its Securities), (ii) do not (A) contravene such Loan Party’s Constituent Documents, (B) violate any applicable Requirement of Law, (C) conflict with, contravene, constitute a default or breach under, or result in or permit the termination or acceleration of, any material Contractual Obligation of any Loan Party or any of its Subsidiaries (including other Loan Documents) other than those that would not, in the aggregate, have a Material Adverse Effect or (D) result in the imposition of any Lien (other than a Lien securing the Obligations) upon any property of any Loan Party or any of its Subsidiaries and (iii) do not require any Permit of, or filing with, any Governmental Authority or any consent of, or notice to, any Person.

3.           This Amendment has been duly executed and delivered to the other parties thereto by each Loan Party party hereto, is the legal, valid and binding obligation of such Loan Party and is enforceable against such Loan Party in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally or by equitable principles relating to enforceability.

4.           RTCO is a wholly owned subsidiary of Holdings and has full corporate authority to bind itself to the terms and conditions of this Amendment, the Joinder Agreement, and the Credit Agreement.

5.           Both before and after giving effect to this Amendment, the representations and warranties contained in the Credit Agreement, the Joinder Agreement and the other Loan Documents are true and correct in all material respects and no Default or Event of Default has occurred and is continuing as of the date hereof.

 

  

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D.  OTHER AGREEMENTS

1.           Continuing Effectiveness of Loan Documents.  As amended hereby, all terms of the Credit Agreement and the other Loan Documents, including without limitation the grant of security interest contained in Article 3 of the Credit Agreement, shall be and remain in full force and effect and shall constitute the legal, valid, binding and enforceable obligations of the Loan Parties.  To the extent any terms and conditions in any of the other Loan Documents shall contradict or be in conflict with any terms or conditions of the Credit Agreement, after giving effect to this Amendment, such terms and conditions are hereby deemed modified and amended accordingly to reflect the terms and conditions of the Credit Agreement as modified and amended hereby. Upon the effectiveness of this Amendment such terms and conditions are hereby deemed modified and amended accordingly to reflect the terms and conditions of the Credit Agreement as modified and amended hereby.

2.           Reaffirmation of Guaranty and Consent of Guarantor.  Holdings hereby consents to the execution and delivery by all Borrowers of this Amendment and the consummation of the transactions described herein, agrees that execution hereof shall not impair or otherwise affect any of its obligations and duties owed to General Electric Capital Corporation, as Administrative Agent and Collateral Agent, under that certain Guaranty Agreement dated as of December 31, 2010 (as amended, the “Guaranty”), and ratifies and confirms the terms of its guarantee of all Obligations with respect to the indebtedness now or hereafter outstanding under the Credit Agreement, as amended hereby, and Guaranteed Obligations under the Guaranty. Holdings acknowledges and agrees that, notwithstanding anything to the contrary contained herein or in any other document evidencing any indebtedness of any Borrower to the Lenders or any other obligation of any Borrower, or any actions now or hereafter taken by the Lenders with respect to any obligation of any Borrower, Rush Truck Centers of Ohio, Inc. shall be deemed a Borrower and Guarantor for all purposes under the terms the Guaranty and that the guarantee by Holdings of all Obligations and Guaranteed Obligations (i) is and shall continue to be a primary obligation of Holdings, (ii) is and shall continue to be an absolute, unconditional, continuing and irrevocable guaranty of payment, and (iii) is and shall continue to be in full force and effect in accordance with its terms.  Nothing contained herein to the contrary shall release, discharge, modify, change or affect the original liability of Holdings with respect to the Obligations or Guaranteed Obligations as amended hereby.

3.           Effect of Agreement.  Except as set forth expressly herein, all terms of the Credit Agreement, as amended hereby, the Guaranty and the other Loan Documents shall be and remain in full force and effect and shall constitute the legal, valid, binding and enforceable obligations of Holdings and the Borrowers to the Lenders and Agent.  The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of the Lenders under the Credit Agreement, nor constitute a waiver of any provision of the Credit Agreement.  This Amendment shall constitute a Loan Document for all purposes of the Credit Agreement.

 

  

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4.           Governing Law.   This Amendment shall be governed by, and construed in accordance with, the internal laws of the State of New York and all applicable federal laws of the United States of America.

5.           No Novation.  This Amendment is not intended by the parties to be, and shall not be construed to be, a novation of the Credit Agreement and the other Loan Documents or an accord and satisfaction in regard thereto.

6.           Costs and Expenses.  Borrowers agree to pay on demand all costs and expenses of Agent in connection with the preparation, execution and delivery of this Amendment, including, without limitation, the reasonable fees and out-of-pocket expenses of outside counsel for Agent with respect thereto.

7.           Counterparts.  This Amendment may be executed by one or more of the parties hereto in any number of separate counterparts, each of which shall be deemed an original and all of which, taken together, shall be deemed to constitute one and the same instrument.  Delivery of an executed counterpart of this Amendment by facsimile transmission, Electronic Transmission or containing an E-Signature shall be as effective as delivery of a manually executed counterpart.

8.           Binding Nature.  This Amendment shall be binding upon and inure to the benefit of the parties hereto, their respective successors, successors-in-titles, and assigns.

9.           Entire Understanding.  This Amendment sets forth the entire understanding of the parties with respect to the matters set forth herein, and shall supersede any prior negotia­tions or agreements, whether written or oral, with respect thereto.

10.         Defined Terms. Capitalized terms used herein and not otherwise defined shall have the respective meanings ascribed thereto in the Credit Agreement.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 

  

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IN WITNESS WHEREOF, this Amendment has been duly executed as of the date first written above.

 

	 	
BORROWERS:

	 
	 	 	 
	 	
RUSH TRUCK CENTERS OF ALABAMA, INC.

	 
	 	
RUSH TRUCK CENTERS OF ARIZONA, INC.

	 
	 	
RUSH TRUCK CENTERS OF CALIFORNIA, INC.

	 
	 	
RUSH MEDIUM DUTY TRUCK CENTERS OF COLORADO, INC.

	 
	 	
RUSH TRUCK CENTERS OF COLORADO, INC.

	 
	 	
RUSH TRUCK CENTERS OF FLORIDA, INC.

	 
	 	
RUSH TRUCK CENTERS OF GEORGIA, INC.

	 
	 	
RUSH TRUCK CENTERS OF NEW MEXICO, INC.

	 
	 	
RUSH TRUCK CENTERS OF OKLAHOMA, INC.

	 
	 	
RUSH TRUCK CENTERS OF TENNESSEE, INC.

	 
	 	
RUSH TRUCK CENTERS OF NORTH CAROLINA, INC.

	 
	 	
RUSH TRUCK CENTERS OF IDAHO, INC.

	 
	 	
RUSH TRUCK CENTERS OF UTAH, INC.

	 
	 	
RUSH TRUCK CENTERS OF OREGON, INC.

	 
	 	 	 	 
	
 

	
By: 

	/s/ Derrek Weaver 	 
	 	Name:	Derrek Weaver 	 
	 	Title:	Assistant Secretary  	 
	 	
of each of the foregoing entities

	 

	 	

RUSH TRUCK CENTERS OF TEXAS, L.P.

	 
	 	 	 
	 	
By: Rushtex, Inc., a Delaware corporation

	 
	 	 	 	 
	 	 	 	 
	
 

	
By: 

	/s/ Derrek Weaver 	 
	 	Name:	Derrek Weaver 	 
	 	Title:	Assistant Secretary  	 

 

 

	 	

RUSH TRUCK CENTERS OF OHIO, INC.

	 
	 	 	 
	 	 	 	 
	
 

	
By: 

	/s/ Derrek Weaver 	 
	 	Name:	Derrek Weaver 	 
	 	Title:	Assistant Secretary  	 

 

[SIGNATURE PAGE TO RUSH ENTERPRISES, INC. SECOND AMENDMENT TO CREDIT AGREEMENT]

 

  

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HOLDINGS:

	 
	 	 	 
	 	
RUSH ENTERPRISES, INC.

	 
	 	 	 	 
	 	 	 	 
	
 

	
By: 

	/s/ Derrek Weaver 	 
	 	Name:	Derrek Weaver 	 
	 	Title:	Senior Vice President     	 

 

 

[SIGNATURE PAGE TO RUSH ENTERPRISES, INC. SECOND AMENDMENT TO CREDIT AGREEMENT]

  

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GENERAL ELECTRIC CAPITAL CORPORATION, AS ADMINISTRATIVE AGENT AND LENDER

	 
	 	 	 	 
	 	 	 	 
	
 

	
By: 

	/s/ Clifford Daniel Clark	 
	 	Name:	Clifford Daniel Clark	 
	 	Title:	General Manager Transportation Finance	 

 

 

[SIGNATURE PAGE TO RUSH ENTERPRISES, INC. SECOND AMENDMENT TO CREDIT AGREEMENT]

 

  

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OTHER LENDERS:

	 
	 	 	 
	 	 	 
	 	
BANK OF THE WEST,

	 
	 	
AS A LENDER

	 
	 	 	 
	 	 	 	 
	 	 	 	 
	
 

	
By: 

	/s/ Ryan J. Mauser	 
	 	Name:	Ryan J. Mauser	 
	 	Title:	VP	 

 

	 	
PNC BANK, NATIONAL ASSOCIATION,

	 
	 	
AS A LENDER

	 
	 	 	 
	 	 	 	 
	 	 	 	 
	
 

	
By: 

	/s/ Robert L. Bidinger      	 
	 	Name:	Robert L. Bidinger      	 
	 	Title:	Senior Vice President     	 

 

	 	
MASSMUTUAL ASSET FINANCE LLC,

	 
	 	
AS A LENDER

	 
	 	 	 
	 	 	 	 
	
 

	
By: 

	/s/ Don Butler     	 
	 	Name:	Don Butler     	 
	 	Title:	Senior Vice President 	 

 

	 	
COMERICA BANK,

	 
	 	
AS A LENDER

	 
	 	 	 	 
	 	 	 	 
	
 

	
By: 

	/s/ Bruce Nowel  	 
	 	Name:	Bruce Nowel  	 
	 	Title:	SVP	 

  

  

 

	 	
WELLS FARGO BANK, N.A.,

	 
	 	
AS A LENDER

	 
	 	 	 	 
	 	 	 	 
	
 

	
By: 

	/s/ Jeffrey Brouillard	 
	 	Name:	Jeffrey Brouillard	 
	 	Title:	Vice President  	 

 

 

 

[SIGNATURE PAGE TO RUSH ENTERPRISES, INC. SECOND AMENDMENT TO CREDIT AGREEMENT]

 

  

9

  

 

	 	

BOKF, N.A., D/B/A BANK OF TEXAS,

	 
	 	
AS A LENDER

	 
	 	 	 	 
	 	 	 	 
	
 

	
By: 

	/s/ Michael Rodgers 	 
	 	Name:	Michael Rodgers 	 
	 	Title:	Vice President   	 

 

 

	 	

FLAGSTAR BANK, FSB

	 
	 	
AS A LENDER

	 
	 	 	 	 
	 	 	 	 
	
 

	
By: 

	/s/ Mark C. Mazmanian	 
	 	Name:	Mark C. Mazmanian	 
	 	Title:	Senior Vice President   	 

 

 

[SIGNATURE PAGE TO RUSH ENTERPRISES, INC. SECOND AMENDMENT TO CREDIT AGREEMENT]

 

  

10

  

 

Exhibit A

 

Schedule 4.3

to

Credit Agreement

 

Group Members

 

 

 

 

 

 

[SEE ATTACHED]

 

  

  

  

 

SCHEDULE 4.3

GROUP MEMBERS

Rush Enterprises, Inc.

Jurisdiction of Organization:                                                                Texas

WHOLLY OWNED Subsidiaries of Rush Enterprises, Inc.:

AiRush, Inc.

 Jurisdiction of Organization:                                                                Delaware

Commercial Vehicle Transportation, Inc.

Jurisdiction of Organization:                                                                Delaware

International General Agency, Inc.

Jurisdiction of Organization:                                                                Texas

Wholly Owned Subsidiaries of International General Agency, Inc.:

Advanced Premium Finance, Inc.

Jurisdiction of Organization:                                                      California

Associated Acceptance, Inc.

Jurisdiction of Organization:                                                      Texas

Associated Acceptance of Florida, Inc.

Jurisdiction of Organization:                                                      Delaware

Associated Acceptance of Oklahoma, Inc.

Jurisdiction of Organization:                                                      Delaware

Los Cuernos, Inc.

Jurisdiction of Organization:                                                      Delaware

Rig Tough, Inc.

Jurisdiction of Organization:                                                      Delaware

Ruschco, Inc.

Jurisdiction of Organization:                                                      Delaware

Rushtex, Inc.

Jurisdiction of Organization:                                                      Delaware

 

  

2

  

Rush Accessories Corporation

Jurisdiction of Organization:                                                      Delaware

Rush Administrative Services, Inc.

Jurisdiction of Organization:                                                      Delaware

Rush Equipment Centers of Texas, Inc.

Jurisdiction of Organization:                                                      Delaware

Rush Retail Centers, Inc.

Jurisdiction of Organization:                                                      Delaware

Rush Logistics, Inc.

Jurisdiction of Organization:                                                      Delaware

Rush GCM Truck Center of Tucson, Inc.

Jurisdiction of Organization:                                                      Delaware

Rush Real Estate Holdings, Inc.

Jurisdiction of Organization:                                                      Delaware

Rush Truck Leasing, Inc.

Jurisdiction of Organization:                                                      Delaware

Rush Truck Centers of Alabama, Inc.

Jurisdiction of Organization:                                                      Delaware

Rush Truck Centers of Arizona, Inc.

Jurisdiction of Organization:                                                      Delaware

Rush Truck Centers of California, Inc.

Jurisdiction of Organization:                                                      Delaware

  

3

  

Rush Truck Centers of Colorado, Inc.

Jurisdiction of Organization:                                                      Delaware

Wholly Owned Subsidiary of Rush Truck Centers of Colorado, Inc.:

Rush Medium Duty Truck Centers of Colorado, Inc.

Jurisdiction of Organization:                                                      Delaware

Rush Truck Centers of Florida, Inc.

Jurisdiction of Organization:                                                      Delaware

Rush Truck Centers of Georgia, Inc.

Jurisdiction of Organization:                                                      Delaware

Rush Truck Centers of Idaho, Inc.

Jurisdiction of Organization:                                                      Delaware

Rush Truck Centers of New Mexico, Inc.

Jurisdiction of Organization:                                                      Delaware

Wholly Owned Subsidiary of Rush Truck Centers of New Mexico, Inc.:

Rush Truck Center of Albuquerque, Inc.

Jurisdiction of Organization:                                                      New Mexico

Rush Truck Centers of North Carolina, Inc.

Jurisdiction of Organization:                                                      Delaware

Wholly Owned Subsidiary of Rush Truck Centers of North Carolina, Inc.:

Adams International Trucks, Inc.

Jurisdiction of Organization:                                                      Delaware

Rush Truck Centers of Ohio, Inc.

Jurisdiction of Organization:                                                      Delaware

Rush Truck Centers of Oklahoma, Inc.

Jurisdiction of Organization:                                                      Delaware

Rush Truck Centers of Oregon, Inc.

Jurisdiction of Organization:                                                      Delaware

 

  

4

  

Rush Truck Centers of Texas, L.P.

Jurisdiction of Organization:                                                      Texas

General Partner:                                           Rushtex, Inc., a Delaware corporation (0.1% owner)

Limited Partner:                                           Ruschco, Inc., a Delaware corporation (99.9% owner)

Rush Truck Centers of Tennessee, Inc.

Jurisdiction of Organization:                                                      Delaware

Rush Truck Centers of Utah, Inc.

Jurisdiction of Organization:                                                      Delaware

 

 

5

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