Document:

Exhibit

EXHIBIT 4.1

DESCRIPTION OF THE REGISTRANT’S SECURITIES 

Ascena Retail Group, Inc. “ascena,” “ourselves,” “we,” “us,” “our” or “Company” or other similar terms has one class of securities registered under Section 12 of the Securities Exchange Act of 1934, as amended: our common stock.
DESCRIPTION OF CAPITAL STOCK
The following summary of the terms of our capital stock is based upon our Third Amended and Restated Certificate of Incorporation (the “Certificate of Incorporation”) and our Second Amended and Restated By-laws (the “By-laws”).  The summary is not complete, and is qualified by reference to our Certificate of Incorporation and By-laws, which are filed as exhibits to this Annual Report on Form 10-K and are incorporated by reference herein.  We encourage you to read our Certificate of Incorporation and By-laws and the applicable provisions of the Delaware General Corporation Law (the “DGCL”) for additional information.  
Authorized Shares of Capital Stock
Our authorized capital stock consists of three hundred sixty million (360,000,000) shares of common stock, $0.01 par value per share, and one hundred thousand (100,000) shares of preferred stock, $0.01 par value per share.  The outstanding shares of our common stock are duly authorized, validly issued, fully paid and non-assessable. 
Listing 
Our common stock is listed and principally traded on The Nasdaq Global Select Market under the symbol “ASNA.”
Voting Rights 
Holders of ascena common stock are entitled to one vote per share on all matters to be voted upon by stockholders. There are no cumulative voting rights. Stockholders may vote by proxy.
Dividend and Distribution Rights 
Subject to preferences applicable to any shares of outstanding ascena preferred stock, the holders of outstanding shares of ascena common stock will be entitled to receive dividends and other distributions out of assets legally available at times and in amounts as the ascena board of directors may determine from time to time. All shares of ascena common stock are entitled to participate ratably with respect to dividends or other distributions.
Rights upon Liquidation 
If ascena is liquidated, dissolved or wound up, voluntarily or involuntarily, holders of ascena common stock are entitled to share ratably in all assets of ascena available for distribution to the ascena stockholders after the payment in full of any preferential amounts to which holders of any ascena preferred stock may be entitled.
Other Rights and Preferences 
There are no preemption, redemption, sinking fund or conversion rights applicable to the ascena common stock.  Pursuant to the By-laws, special meetings of stockholders may be called by stockholders with net long beneficial ownership of our capital stock representing not less than 10% of the voting power of all shares of capital stock entitled to vote at the meeting, subject to the requirements contained in the By-laws.  
Transfer Agent and Registrar 
American Stock Transfer & Trust Company, LLC is the transfer agent and registrar for our common stock. 
Preferred Stock
The ascena board of directors, without further stockholder approval, is authorized to issue from time to time the preferred stock in one or more series and to fix the number of shares constituting the designation, voting powers (if any), preferences and other rights, as well as the qualifications, limitations and restrictions, of the series. The powers, preferences and rights, and the qualifications, limitations or restrictions, if any, of each series of preferred stock may be different from those of any and all other series.
Purposes and Effects of Certain Provisions of the Certificate of Incorporation and By-laws 

The Certificate of Incorporation and By-laws provide for directors to be divided into three classes, as nearly equal in the number of directors as possible, with the directors in each class serving a three-year term.  Each director serves for a term ending on the date of the third annual meeting following the meeting at which such director was elected.

The Certificate of Incorporation provides that the affirmative vote of holders of at least 80% of the outstanding shares of voting stock is required to approve any business combination with any related person. However, such approval is not applicable to any particular business combination and such business combination shall require only such affirmative vote as may be required by law or otherwise, if such business combination has been approved by a majority of continuing directors at a meeting at which a continuing director quorum is present or such business combination involves ascena and a subsidiary in which a related person has no direct or indirect interest, subject to certain additional limitations.
The Certificate of Incorporation and By-laws provide that members of the ascena board of directors may be removed from office with or without cause, by stockholder action, at a meeting called for that purpose, by a vote of at least 80% of the shares of capital stock then entitled to vote at an election of directors.
The By-laws set forth certain procedures stockholders must follow in order to bring business for consideration at a stockholders’ meeting. Such procedures include, among other things, the requirement that stockholders must deliver a notice of the proposed business to the secretary and the general counsel of ascena not later than the close of business on the 90th day nor earlier than the close of business on the 120th day prior to the first anniversary of the date that the Company’s proxy statement was released to stockholders in connection with the previous year’s annual meeting of stockholders. 
Delaware Anti-Takeover Law and Certain Certificate of Incorporation Provisions
Section 203 of the DGCL provides that if a person acquires 15% or more of the stock of a Delaware corporation, thereby becoming an “interested stockholder,” that person may not engage in certain business combinations with the corporation for a period of three years unless (1) the board approved the acquisition of stock or business combination transaction prior to the time that the person became an interested stockholder; (2) the person became an interested stockholder and 85% owner of the voting stock of the corporation in the same transaction, excluding voting stock owned by directors who are also officers and certain employee stock plans; or (3) the business combination transaction is approved by the board and by the affirmative vote of two-thirds of the outstanding voting stock which is not owned by the interested stockholder at an annual or special meeting. A Delaware corporation may elect not to be governed by Section 203. ascena has not made that election.Exhibit

EXECUTION VERSION

FIRST AMENDMENT dated as of September 20, 2019 (this “Amendment”), to the Amended and Restated Credit Agreement dated as of January 3, 2011, as further amended and restated as of February 27, 2018 (the “Credit Agreement”), among ASCENA RETAIL GROUP, INC., a Delaware corporation (the “Company”), the other LOAN PARTIES party thereto, the LENDERS party thereto, the ISSUING BANKS party thereto and JPMORGAN CHASE BANK, N.A., as Administrative Agent and Swingline Lender.  
The Borrowers, the other Loan Parties, the Lenders and the Administrative Agent are parties to the Credit Agreement and certain related Loan Documents, providing for Revolving Commitments in favor of the Borrowers in an aggregate principal amount of $500,000,000.  
The Borrowers, the other Loan Parties, the Lenders and the Administrative Agent have agreed to amend the Credit Agreement as provided herein.
NOW THEREFORE, in consideration of the mutual agreements herein contained and other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, and intending to be legally bound, the parties hereto hereby agree as follows:
SECTION 1.Defined Terms.  Capitalized terms used (including in the recitals hereto) and not otherwise defined herein have the meanings assigned to them in the Credit Agreement.
SECTION 2.    Amendment of Credit Agreement. The Credit Agreement is amended, effective as of the First Amendment Effective Date (as defined below), as set forth below in this Section:
(a)    The definitions of “Commercial LC Exposure”, “Standby LC Commitment” and “Standby LC Exposure” in Section 1.01 of the Credit Agreement are deleted in their entirety.
(b)    The definition of “LC Exposure” in Section 1.01 of the Credit Agreement is amended and restated in its entirety to read as follows:
“LC Exposure” means, at any time, the sum of (a) the aggregate undrawn amount of all outstanding Letters of Credit at such time plus (b) the aggregate amount of all LC Disbursements that have not yet been reimbursed by or on behalf of the Borrowers at such time.  The LC Exposure of any Lender at any time shall be its Applicable Percentage of the total LC Exposure at such time, adjusted to give effect to any reallocation under Section 2.20 of the LC Exposures of Defaulting Lenders in effect at such time.

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(c)    The third sentence in Section 2.06(b) of the Credit Agreement is amended to read as follows:
“A Letter of Credit shall be issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or extension of each Letter of Credit the Borrowers shall be deemed to represent and warrant that), after giving effect to such issuance, amendment, renewal or extension (i) the total LC Exposure shall not exceed $200,000,000, (ii) the portion of the LC Exposure attributable to Letters of Credit issued by any Issuing Bank will not exceed the LC Commitment of such Issuing Bank, (iii) the Credit Exposure of any Lender shall not exceed such Lender’s Revolving Commitment and (iv) the Aggregate Credit Exposure shall not exceed the Credit Limit.”
(d)    The portion of Schedule 2.01 to the Credit Agreement under the heading “LC Commitments and Standby LC Commitments” is amended and restated to be in the form of Schedule I hereto.
SECTION 3.    Representations and Warranties.  The Loan Parties represent and warrant to each other party hereto that:
(i)    this Amendment has been duly executed and delivered by each Loan Party and constitutes a legal, valid and binding obligation of such Loan Party, enforceable against it in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and to general principles of equity, regardless of whether considered in a proceeding in equity or at law;
(ii)    the representations and warranties of each Loan Party set forth in the Credit Agreement and the other Loan Documents (with references therein to the “Transactions” being deemed to include the execution, delivery and effectiveness of this Amendment) are, on and as of the First Amendment Effective Date, true and correct (A) in the case of the representations and warranties qualified as to materiality, in all respects and (B) otherwise, in all material respects, except for any representation or warranty that, by its terms, speaks as of a prior date, which representation or warranty shall be true and correct as of such prior date; and
(iii)    as of the First Amendment Effective Date, no Default or Event of Default has occurred and is continuing under the Credit Agreement.
SECTION 4.    Effectiveness.  (a) The amendments provided for herein shall become effective on the date (the “First Amendment Effective Date”) on which the Administrative Agent shall have executed a counterpart of this Amendment and shall have received from the Company, each other Loan Party, the Lenders constituting the Required Lenders and each Issuing Bank either (i) a counterpart of this Amendment signed on behalf of such party or (ii) evidence reasonably satisfactory to the Administrative Agent (which 

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may include a facsimile or other electronic transmission) that such party has signed a counterpart of this Amendment.
(a)    The Administrative Agent shall notify the Company and the Lenders of the First Amendment Effective Date, and such notice shall be conclusive and binding.  
SECTION 5.    Expenses; Indemnity.  The Company agrees, whether or not the First Amendment Effective Date shall occur, to reimburse the Administrative Agent for its reasonable and documented out-of-pocket expenses, and to indemnify and hold harmless the Administrative Agent, its Affiliates and each other Indemnitee, on the terms set forth in Section 9.03 of the Credit Agreement, which terms are incorporated by reference into this Amendment with the same effect as if set forth in full herein.
SECTION 6.    Reaffirmation.  Each Loan Party hereby consents to this Amendment and hereby (a) reaffirms and confirms its guarantees, pledges, grants of security interests and other obligations, as applicable, under the Loan Guarantee and each Collateral Document to which it is party, (b) affirms and confirms its obligations to indemnify and other commitments and obligations under the Loan Documents to which it is a party and (c) agrees that, notwithstanding the effectiveness of this Amendment, (i) the Loan Guarantee and each Collateral Document to which it is a party shall continue to be in full force and effect and (ii) all guarantees, pledges, grants and other obligations thereunder shall continue to be in full force and effect and shall accrue to the benefit of the Lender Parties.  Each Loan Party hereby confirms and agrees that obligations under the Credit Agreement, as modified hereby, constitute “Obligations” and “Secured Obligations” (or words of similar import) under and as used in the Loan Guarantee and each Collateral Document to which it is a party.
SECTION 7.    Effect of Amendment; No Novation.  (b) Except as expressly set forth herein, this Amendment shall not by implication or otherwise limit, impair, constitute a waiver of or otherwise affect the rights and remedies of the Lender Parties under the Credit Agreement or any other Loan Document, and shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other Loan Document, all of which shall continue in full force and effect in accordance with the provisions thereof.  Nothing herein shall be deemed to entitle any Loan Party to a consent to, or a waiver, amendment, modification or other change of, any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other Loan Document in similar or different circumstances, except as expressly set forth herein. 
(a)    On and after the First Amendment Effective Date, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof”, “herein”, or words of like import, shall refer to the Credit Agreement as amended hereby and the term “Credit Agreement”, as used in each Loan Document, shall mean the Credit Agreement as so amended.  

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(b)    This Amendment shall constitute a “Loan Document” for all purposes of the Credit Agreement and the other Loan Documents.
SECTION 8.    Applicable Law; Jurisdiction; Waiver of Jury Trial.  THE PROVISIONS OF SECTIONS 9.09 AND 9.10 OF THE CREDIT AGREEMENT ARE INCORPORATED INTO THIS AMENDMENT MUTATIS MUTANDIS WITH THE SAME EFFECT AS IF SET FORTH IN FULL HEREIN.
SECTION 9.    Counterparts; Effectiveness.  This Amendment may be executed in any number of counterparts (and by different parties hereto on different counterparts), each of which when so executed and delivered shall be deemed an original, but all of which taken together shall constitute a single contract.  Delivery of an executed counterpart of a signature page of this Amendment by facsimile transmission or other electronic imaging (such as a ‘pdf’) shall be as effective as delivery of a manually executed counterpart hereof.  
SECTION 10.    Severability.  Any provision of this Amendment held to be invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions hereof; and the invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction.
SECTION 11.    Headings.  Section headings used herein are for convenience of reference only, are not part of this Amendment and are not to affect the construction of, or to be taken into consideration in interpreting, this Amendment.
 
 
[Signature pages follow]

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by their respective authorized officers as of the date set forth above.

ASCENA RETAIL GROUP, INC.,
by    /s/ Gary Holland
Name:  Gary Holland
Title:       Vice President and Assistant Secretary

THE DRESS BARN, INC.,
by    /s/ Gary Holland
Name:  Gary Holland
Title:       Vice President and Assistant Secretary
 

TWEEN BRANDS, INC.,
by    /s/ Gary Holland
Name:  Gary Holland
Title:       Vice President and Assistant Secretary
 

ANN, INC.,
by   /s/ Gary Holland
Name:  Gary Holland
Title:       Vice President and Assistant Secretary

CHARMING SHOPPES OF DELAWARE, INC.,
by    /s/ Gary Holland
Name:  Gary Holland
Title:       Vice President and Assistant Secretary
 

CSI INDUSTRIES, INC.,
by    /s/ Gary Holland
Name:  Gary Holland
Title:       Vice President and Assistant Secretary
 

CATHERINES, INC.,
by    /s/ Gary Holland
Name:  Gary Holland
Title:       Vice President and Assistant Secretary
 

CATHERINES STORES CORPORATION,
by    /s/ Gary Holland
Name:  Gary Holland
Title:       Vice President and Assistant Secretary
 

LANE BRYANT, INC.,
by    /s/ Gary Holland
Name:  Gary Holland
Title:       Vice President and Assistant Secretary
 

LANE BRYANT PURCHASING CORP.,
by    /s/ Gary Holland
Name:  Gary Holland
Title:       Vice President and Assistant Secretary
 

JPMORGAN CHASE BANK, N.A., individually and as Administrative Agent, 

by    /s/ James A. Knight
Name:  James A. Knight
Title:       Executive Director

LENDER SIGNATURE PAGE TO THE
FIRST AMENDMENT TO
AMENDED AND RESTATED 
CREDIT AGREEMENT OF 
ASCENA RETAIL GROUP, INC.

Name of Lender (including, if such Lender is an Issuing Bank, in its capacity as an Issuing Bank):

	
			
	Lender:  BANK OF AMERICA, N.A.

	 

	 
	 
	 

	 
	by
	

/s/ Roger Malouf

	 
	Name: Roger Malouf

	 
	Title: Senior Vice President

                

                

LENDER SIGNATURE PAGE TO THE
FIRST AMENDMENT TO
AMENDED AND RESTATED 
CREDIT AGREEMENT OF 
ASCENA RETAIL GROUP, INC.

Name of Lender (including, if such Lender is an Issuing Bank, in its capacity as an Issuing Bank):

	
			
	Lender: CAPITAL ONE, NATIONAL ASSOCIATION

	 

	 
	 
	 

	 
	by
	

/s/ Julianne Low 

	 
	Name: Julianne Low

	 
	Title: Duly Authorized Signatory

                

	
			
	For any Lender (or Issuing Bank) requiring a second signature line:

	 

	 
	 
	 

	 
	by
	

	 
	Name:

	 
	Title:

                

LENDER SIGNATURE PAGE TO THE
FIRST AMENDMENT TO
AMENDED AND RESTATED 
CREDIT AGREEMENT OF 
ASCENA RETAIL GROUP, INC.

FIFTH THIRD BANK (including, if such Lender is an Issuing Bank, in its capacity as an Issuing Bank):

	
			
	Lender:

	 

	 
	 
	 

	 
	by
	

/s/ Robert M. Lucas

	 
	Name: Robert M. Lucas

	 
	Title: Assistant Vice President

                

LENDER SIGNATURE PAGE TO THE
FIRST AMENDMENT TO
AMENDED AND RESTATED 
CREDIT AGREEMENT OF 
ASCENA RETAIL GROUP, INC.

Name of Lender (including, if such Lender is an Issuing Bank, in its capacity as an Issuing Bank):

	
			
	Lender: GOLDMAN SACHS BANK USA

	 

	 
	 
	 

	 
	by
	

/s/ Jamie Minieri 

	 
	Name: Jamie Minieri

	 
	Title: Authorized Signatory

                

	
			
	For any Lender (or Issuing Bank) requiring a second signature line:

	 

	 
	 
	 

	 
	by
	

	 
	Name:

	 
	Title:

                

LENDER SIGNATURE PAGE TO THE
FIRST AMENDMENT TO
AMENDED AND RESTATED 
CREDIT AGREEMENT OF 
ASCENA RETAIL GROUP, INC.

Name of Lender (including, if such Lender is an Issuing Bank, in its capacity as an Issuing Bank):

	
			
	Lender: U.S. BANK NATIONAL ASSOCIATION

	 

	 
	 
	 

	 
	by
	

/s/ Thomas P. Chidester

	 
	Name: Thomas P. Chidester

	 
	Title: Vice President

                

                

LENDER SIGNATURE PAGE TO THE
FIRST AMENDMENT TO
AMENDED AND RESTATED 
CREDIT AGREEMENT OF 
ASCENA RETAIL GROUP, INC.

Lender (with each Lender that is also an Issuing Bank executing in both such capacities):

	
			
	WELLS FARGO BANK, NATIONAL ASSOCIATION

	 

	 
	 
	 

	 
	by
	

/s/ Brent E. Shay

	 
	Name: Brent E. Shay

	 
	Title: Director

                

                

Schedule I

LC Commitments
	
				
	Issuing Bank
	LC Commitment

	JPMorgan Chase Bank, N.A.
	

	$72,200,000
	

	Bank of America, N.A.
	72,200,000
	

	Wells Fargo Bank, National Association
	55,600,000
	

	Total
	

	$200,000,000

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