Document:

Amendment No. 2

 EXHIBIT 4.7 
  
 SECOND AMENDMENT 
  
 THIS SECOND AMENDMENT (this “Amendment”) dated as of May 27, 2004, to the Credit Agreement referenced below, is by and among SCHOOL
SPECIALTY, INC., a Wisconsin corporation (the “Borrower”), the Subsidiaries of the Borrower identified as “Guarantors” on the signature pages hereto, the Lenders identified herein, and BANK OF AMERICA, N.A., as
Administrative Agent, Swing Line Lender and L/C Issuer. Capitalized terms used herein but not otherwise defined herein shall have the meanings assigned to such terms in the Credit Agreement. 
  
 W I T N E S S E T H 
  
 WHEREAS, a $250 million credit facility has been extended to the Borrower
pursuant to the terms of that Amended and Restated Credit Agreement (as amended, modified, supplemented and extended, the “Credit Agreement”) dated as of April 11, 2003 by and among the Borrower, the Guarantors identified therein,
the Lenders identified therein and Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer; 
  
 WHEREAS, the Borrower has requested certain modifications to the Credit Agreement; and 
  
 WHEREAS, the Required Lenders have consented to the requested modifications on the terms and conditions set forth herein.

  
 NOW, THEREFORE, IN CONSIDERATION of the premises and other
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
  
 1. Amendments. The Credit Agreement is amended in the following respects, in each case effective as of April 25, 2004: 
  
 (a) In Section 7.02(c) of the Credit Agreement, the phrase “prior to
the end of each fiscal year” is amended to read “within three (3) Business Days after the first quarterly board of directors meeting of each fiscal year (but in any event by no later than June 30 of each year)”. 
  
 (b) In Section 7.02(d) of the Credit Agreement, the phrase “within 30
days after the end of each fiscal year” is amended to read “within three (3) Business Days after the first quarterly board of directors meeting of each fiscal year (but in any event by no later than June 30 of each year)”. 

 
 2. Conditions Precedent. This Amendment shall be effective as of
the date set forth above upon execution of this Amendment by the Loan Parties and the Required Lenders. 
  
 3. No Other Changes. Except as expressly modified hereby, all of the terms and provisions of the Loan Documents shall remain in full force and
effect. 
  
 4. Reaffirmation of Liens. Each Loan Party (i)
affirms that each of the Liens granted in or pursuant to the Loan Documents are valid and subsisting and (ii) agrees that this Amendment shall in no manner impair or otherwise adversely effect any of the Liens granted in or pursuant to the Loan
Documents. 
  
 5. Reaffirmation of Guaranty. Each of the
Guarantors (i) acknowledges and consents to all of the terms and conditions of this Amendment, (ii) affirms all of its obligations under the Loan Documents and 

 (iii) agrees that this Amendment and all documents executed in connection herewith do not operate to reduce or discharge
such Guarantor’s obligations under the Credit Agreement or the other Loan Documents. 
  
 6. Counterparts. This Amendment may be executed in any number of counterparts, each of which when so executed and delivered shall be deemed an original and it shall not be necessary in making proof of this
Amendment to produce or account for more than one such counterpart. 
  
 7. Governing Law. This Amendment shall be deemed to be a contract made under, and for all purposes shall be construed in accordance with the laws of the State of New York. 
  
 [Remainder of Page Intentionally Left Blank] 
  

 2 

 IN WITNESS WHEREOF, 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. 
  

					
	 BORROWER:
	 	 SCHOOL SPECIALTY, INC.
 a Wisconsin corporation

			
	 	 	 By:
	 	 /s/ Mary M. Kabacinski

	 	 	 Name:
	 	 Mary M. Kabacinski

	 	 	 Title:
	 	 Chief Financial Officer

		
	 GUARANTORS:
	 	 CHILDCRAFT EDUCATION CORP.,

	 	 	 a New York corporation

	 	 	 CLASSROOMDIRECT.COM, LLC,

	 	 	 a Delaware limited liability company

	 	 	 BIRD-IN-HAND WOODWORKS, INC.,

	 	 	 a New Jersey corporation

	 	 	 SPORTIME, LLC,

	 	 	 a Delaware limited liability company

	 	 	 GLOBAL VIDEO, LLC,

	 	 	 a Wisconsin limited liability company

	 	 	 PREMIER AGENDAS, INC.,

	 	 	 a Washington corporation

	 	 	 FREY SCIENTIFIC, INC.,

	 	 	 a Delaware corporation

	 	 	 AMALGAMATED WIDGETS, INC.,

	 	 	 a Wisconsin corporation

	 	 	 SAX ARTS & CRAFTS, INC.,

	 	 	 a Delaware corporation

	 	 	 CALIFONE INTERNATIONAL, INC.,

	 	 	 a Delaware corporation

			
	 	 	 By:
	 	 /s/ Mary M. Kabacinski

	 	 	 Name:
	 	 Mary M. Kabacinski

	 	 	 Title:
	 	 Treasurer

  
 [Signature Pages Continue] 

					
	 ADMINISTRATIVE AGENT:
	 	 BANK OF AMERICA, N.A.,

	 	 	 as Administrative Agent

			
	 	 	 By:
	 	 /s/ Casey Cosgrove

	 	 	 Name:
	 	 Casey Cosgrove

	 	 	 Title:
	 	 Vice President

		
	 LENDER:
	 	 BANK OF AMERICA, N.A.,

	 	 	 as a Lender, L/C Issuer and Swing Line Lender

			
	 	 	 By:
	 	 /s/ Casey Cosgrove

	 	 	 Name:
	 	 Casey Cosgrove

	 	 	 Title:
	 	 Vice President

		
	 	 	 U.S. BANK NATIONAL ASSOCIATION

			
	 	 	 By:
	 	 /s/ Karen Weathers

	 	 	 Name:
	 	 Karen Weathers

	 	 	 Title:
	 	 Vice President

		
	 	 	 LASALLE BANK, NATIONAL ASSOCIATION

			
	 	 	 By:
	 	 /s/ Jon R. Huitink

	 	 	 Name:
	 	 Jon R. Huitink

	 	 	 Title:
	 	 Assistant Vice President

		
	 	 	 M&I MARSHALL & ILSLEY BANK

			
	 	 	 By:
	 	 /s/ Leo D. Freeman

	 	 	 Name:
	 	 Leo D. Freeman

	 	 	 Title:
	 	 Vice President

		
	 	 	 BANK ONE, NA

			
	 	 	 By:
	 	 /s/ Anthony F. Maggiore

	 	 	 Name:
	 	 Anthony F. Maggiore

	 	 	 Title:
	 	 Managing Director, Capital Markets

		
	 	 	 HARRIS TRUST & SAVINGS BANK

			
	 	 	 By:
	 	 /s/ Ronald V. Webb

	 	 	 Name:
	 	 Ronald V. Webb

	 	 	 Title:
	 	 Vice President

		
	 	 	 NATIONAL CITY BANK OF MICHIGAN/ILLINOIS

			
	 	 	 By:
	 	 /s/ Tiffany Cozzolino

	 	 	 Name:
	 	 Tiffany Cozzolino

	 	 	 Title:
	 	 Vice President

  
 [Signature Pages
Continue] 
  

			
	 ASSOCIATED BANK, N.A.

		
	 By:
	 	 /s/ Stephen E. Pasowicz

	 Name:
	 	 Stephen E. Pasowicz

	 Title:
	 	 Vice President, Corporate Banking

	
	 THE BANK OF NEW YORK

		
	 By:
	 	 /s/ Mark Wrigley

	 Name:
	 	 Mark Wrigley

	 Title:
	 	 Vice President

	
	 UNION BANK OF CALIFORNIA, N.A.

		
	 By:
	 	 /s/ Christine Davis

	 Name:
	 	 Christine Davis

	 Title:
	 	 Vice President

	
	 ST. FRANCIS BANK

		
	 By:
	 	 /s/ Paul W. Jelacil

	 Name:
	 	 Paul W. Jelacil

	 Title:
	 	 Vice President

	
	 BANK OF SCOTLAND

		
	 By:
	 	 /s/ Amena Nabi

	 Name:
	 	 Amena Nabi

	 Title:
	 	 Assistant Vice PresidentEmployment Agreement Amendment

 EXHIBIT 10.7 
  
 

 
  

			
	 W6316 Design Drive
	 	 920-882-5622

	 Greenville, WI 54942
	 	 920-882-5814 Fax

  
 June 3, 2004 
  
 Employment Agreement 
 Amendment II 
 Effective April 25, 2004 
  
 Both School Specialty, Inc., a Wisconsin corporation (the “Company”) and A. Brett
Pulsipher (“Employee”) agree, by the below duly executed document, to the below Amendment to section I- Employment and Duties. 
  
 Amendment 
  
 Section I amended and rewritten to reflect new title and to redefine reporting relationship and in no way alters and or changes any previous amendments or sections of the agreement. 
  
 New Section Language 
  
 Employment and Duties The Company hereby agrees to employ the Employee and the Employee hereby accepts employment as Executive Vice
President, of Corporate Technology for the Company and agrees to devote his full business time and efforts to the diligent and faithful performance of his duties hereunder the direction of the Chief Executive Officer of the Company. Such duties
shall be performed in the State of Wisconsin. 
  
 In witness whereof, the parties
hereto have amended this agreement as of the late reflective date listed above. 
  

			
	 Company: School Specialty, Inc.
	 	 
		
	 June 3, 2004
	 	 
	 Date
	 	 /s/ David Vander Zanden

	 	 	 David Vander Zanden, CEO

	 Employee:
	 	 
		
	 June 3, 2004
	 	 
	 Date
	 	 /s/ A. Brent Pulsipher

	 	 	 A. Brent Pulsipher, IndividualAmendment No. 8

 EXHIBIT 10.22 
  
 AMENDMENT NO. 8 
 to 
 RECEIVABLES PURCHASE AGREEMENT 
  
 THIS AMENDMENT NO. 8 (“Amendment”) is entered into as of March 31, 2004 by and among New School, Inc., as Seller
(“Seller”), School Specialty, Inc., as Servicer (“SSI”), Falcon Asset Securitization Corporation (“Falcon”), the Financial Institutions party hereto, and Bank One, NA (Main Office Chicago), as agent
(the “Agent”). 
  
 PRELIMINARY STATEMENT

  
 A. Seller, SSI, Falcon, the Financial Institutions and the
Agent are parties to that certain Receivables Purchase Agreement dated as of November 22, 2000 (as amended, restated, supplemented or otherwise modified from time to time, the “Purchase Agreement”). Capitalized terms used herein and
not otherwise defined shall have the meanings ascribed to them in the Purchase Agreement. 
  
 B. Seller, SSI, Falcon, the Financial Institutions and the Agent have agreed to amend the Purchase Agreement, subject to the terms and conditions hereinafter set forth. 
  
 NOW, THEREFORE, in consideration of the premises set forth above, and other
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 
  
 SECTION 1. Amendment. Effective as of the date hereof, subject to the satisfaction of the condition precedent set forth in Section 2 below,
the Purchase Agreement is hereby amended as follows: 
  
 1.1
Clause (xvii) of the definition of “Eligible Receivable” appearing in Exhibit I is hereby deleted in its entirety and replaced with the following therefor: 
  
 (xvii) which, if an Unbilled Receivable, (A) the invoice relating thereto shall be required to be rendered no later than
thirty-one (31) days from the date the transaction giving rise to such Receivable was completed, and (B) the Outstanding Balance of such Unbilled Receivable, when added to the Outstanding Balance of all Unbilled Receivables shall not exceed 10.0% of
the Outstanding Balance of all Receivables at such time. 
  
 SECTION 2. Condition Precedent. This Amendment shall become effective and be deemed effective, as of the date first above written, upon receipt by the Agent of one copy of this Amendment duly executed by each of the parties hereto.

 SECTION 3. Covenants, Representations and Warranties of the Seller and the Servicer. 

 
 3.1 Upon the effectiveness of this Amendment, each of Seller and SSI
hereby reaffirms all covenants, representations and warranties made by it, to the extent the same are not amended hereby, in the Purchase Agreement and agrees that all such covenants, representations and warranties shall be deemed to have been
re-made as of the effective date of this Amendment. 
  
 3.2 Each
of Seller and SSI hereby represents and warrants as to itself (i) that this Amendment constitutes the legal, valid and binding obligation of such party enforceable against such party in accordance with its terms, except as enforceability may be
limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally and general principles of equity which may limit the availability of equitable remedies and (ii) upon the
effectiveness of this Amendment, no event shall have occurred and be continuing which constitutes an Amortization Event or a Potential Amortization Event. 
  
 SECTION 4. Reference to and Effect on the Investor Agreement. 
  
 4.1 Upon the effectiveness of this Amendment, each reference in the Purchase Agreement to “this Agreement,”
“hereunder,” “hereof,” “herein,” “hereby” or words of like import shall mean and be a reference to the Purchase Agreement as amended hereby, and each reference to the Purchase Agreement in any other document,
instrument or agreement executed and/or delivered in connection with the Purchase Agreement shall mean and be a reference to the Purchase Agreement as amended hereby. 
  
 4.2 Except as specifically amended hereby, the Purchase Agreement and other documents, instruments and agreements executed
and/or delivered in connection therewith shall remain in full force and effect and are hereby ratified and confirmed. 
  
 4.3 The execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of Falcon, the Financial
Institutions or the Agent under the Purchase Agreement or any of the other Transaction Documents, nor constitute a waiver of any provision contained therein, except as specifically set forth herein. 
  
 SECTION 5. GOVERNING LAW. THIS AMENDMENT SHALL BE CONSTRUED
IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK AND THE OBLIGATIONS, RIGHTS, AND REMEDIES OF THE PARTIES UNDER THIS AGREEMENT SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 
  
 SECTION 6. Execution in Counterparts. This Amendment may be executed in any number of counterparts and by different
parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed to be an original and all of which taken together shall constitute but one and the same instrument. 
  
 SECTION 7. Headings. Section headings in this Amendment are included
herein for convenience of reference only and shall not constitute a part of this Amendment for any other purpose. 
  
 * * * * * 
  

 2 

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

			
	 NEW SCHOOL, INC., as Seller

		
	 By:
	 	 /s/ Mary M. Kabacinski

	 Name:
	 	 Mary M. Kabacinski

	 Title:
	 	 Treasurer

	
	 SCHOOL SPECIALTY, INC., as Servicer

		
	 By:
	 	 /s/ Mary M. Kabacinski

	 Name:
	 	 Mary M. Kabacinski

	 Title:
	 	 EVP / CFO

	
	 FALCON ASSET SECURITIZATION
 CORPORATION

		
	 By:
	 	 /s/ George S. Wilkins

	 Name:
	 	 George S. Wilkins

	 Title:
	 	 Authorized Signatory

	
	 BANK ONE, NA (MAIN OFFICE CHICAGO),
 as a Financial Institution and as Agent

		
	 By:
	 	 /s/ George S. Wilkins

	 Name:
	 	 George S. Wilkins

	 Title:
	 	 Authorized Signatory

  
 Signature Page
to 
 Amendment No. 8

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