Document:

<PAGE>

                                                                 EXHIBIT 10.18.1

                      FIRST AMENDMENT TO CREDIT AGREEMENT
                      -----------------------------------

     THIS FIRST AMENDMENT TO CREDIT AGREEMENT (the "Amendment"), dated as of
                                                    ---------
March 30, 2000, is entered into by and among WEST MARINE FINANCE COMPANY, INC.,
a California corporation (the "Company"), BANK OF AMERICA, N.A., as agent for
                               -------
itself and the Banks (the "Agent"), and the several financial institutions
                           -----
party to the Credit Agreement (collectively, the "Banks").
                                                  -----

                                   RECITALS
                                   --------

     A.   The Company, Banks, and Agent are parties to a Credit Agreement
dated as of January 13, 2000 (the "Credit Agreement") pursuant to which
                                   ----------------
the Banks have extended certain credit facilities to the Company.

     B.   The Company has requested that the Banks agree to certain amendments
of the Credit Agreement.

     C.   The Banks are willing to amend the Credit Agreement, subject
to the terms and conditions of this Amendment.

                                   AGREEMENT
                                   ---------

     NOW, THEREFORE, for valuable consideration, the receipt and adequacy of
which are hereby acknowledged, the parties hereto hereby agree as follows:

     1.   Defined Terms.   Unless otherwise defined herein, capitalized terms
          -------------
used herein shall have the meanings, if any, assigned to them in the Credit
Agreement.

     2.   Amendments to Credit Agreement.
          ------------------------------

          (a)  The first sentence of Section 7.13(a) is amended to read as
follows in its entirety:

               (a)  not permit the ratio of Funded Debt to EBITDA to exceed the
ratio indicated below as of the end of each fiscal quarter set forth below:

              Fiscal Quarters                 Ratio
              ---------------                 -----

              4th Qtr 1999                    2.75 to 1.0

              1st Qtr 2000                    3.00 to 1.0

              2nd Qtr 2000 - 4th Qtr 2000     2.00 to 1.0

              1st Qtr 2001                    2.50 to 1.0

              2nd Qtr 2001 - 4th Qtr 2001     2.00 to 1.0

              1st Qtr 2002                    2.50 to 1.0

              2nd Qtr 2002 and thereafter     2.00 to 1.0
<PAGE>

     3.   Representations and Warranties.  The Company hereby represents and
          ------------------------------
warrants to the Agent and the Banks as follows:

          (a)  No Event of Default has occurred and is continuing.

          (b)  The execution, delivery and performance by the Company of this
Amendment have been duly authorized by all necessary corporate and other action
and do not and will not require any registration with, consent or approval of,
notice to or action by, any Person (including any Governmental Authority) in
order to be effective and enforceable. The Credit Agreement as amended by this
Amendment constitutes the legal, valid and binding obligations of the Company,
enforceable against it in accordance with its respective terms, except as
enforceability may be limited by applicable bankruptcy, insolvency, or similar
laws affecting the enforcement of creditors' rights generally or by equitable
principles relating to enforceability, without defense, counterclaim or offset.

          (c)  All representations and warranties of the Company contained in
the Credit Agreement are true and correct on and as of the date hereof, except
to the extent such representations and warranties expressly refer to an earlier
date, in which case they are true and correct as of such earlier date.

          (d)  The Company is entering into this Amendment on the basis of its
own investigation and for its own reasons, without reliance upon the Agent and
the Banks or any other Person.

     4.   Effective Date.  This Amendment will become effective as of
          --------------
March 30, 2000 (the "Effective Date"), provided that each of the following
                     --------------    --------
conditions precedent is satisfied on or before March 31, 2000:

          (a)  The Agent has received from the Company and each of Banks a duly
executed original (or, if elected by the Agent, an executed facsimile copy) of
this Amendment, together with a duly executed Guarantor Acknowledgment and
Consent in the form attached hereto.

     5.   Reservation of Riqhts.  The Company acknowledges and agrees that the
          ---------------------
execution and delivery by the Agent and the Banks of this Amendment shall not be
deemed to create a course of dealing or otherwise obligate the Agent or the
Banks to enter into amendments under the same, similar, or any other
circumstances in the future.

                                       2
<PAGE>

     6.   Miscellaneous.
          -------------

          (a)  Except as herein expressly amended, all terms, covenants and
provisions of the Credit Agreement are and shall remain in full force and effect
and all references therein and in the other Loan Documents to such Credit
Agreement shall henceforth refer to the Credit Agreement as amended by this
Amendment. This Amendment shall be deemed incorporated into, and a part of, the
Credit Agreement. This Amendment is a Loan Document.

          (b)  This Amendment shall be binding upon and inure to the benefit of
the parties hereto and to the Credit Agreement and their respective successors
and assigns. No third party beneficiaries are intended in connection with this
Amendment.

          (c)  This Amendment shall be governed by and construed in accordance
with the law of the State of California.

          (d)  This Amendment may be executed in any number of counterparts,
each of which shall be deemed an original, but all such counterparts together
shall constitute but one and the same instrument. Each of the parties hereto
understands and agrees that this document (and any other document required
herein) may be delivered by any party thereto either in the form of an executed
original or an executed original sent by facsimile transmission to be followed
promptly by mailing of a hard copy original, and that receipt by the Agent of a
facsimile transmitted document purportedly bearing the signature of a Bank or
the Company shall bind such Bank or the Company, respectively, with the same
force and effect as the delivery of a hard copy original. Any failure by the
Agent to receive the hard copy executed original of such document shall not
diminish the binding effect of receipt of the facsimile transmitted executed
original of such document of the party whose hard copy page was not received by
the Agent, and the Agent is hereby authorized to make sufficient photocopies
thereof to assemble complete counterparty documents.

          (e)  This Amendment, together with the Credit Agreement, contains the
entire and exclusive agreement of the parties hereto with reference to the
matters discussed herein and therein. This Amendment supersedes all prior drafts
and communications with respect thereto. This Amendment may not be amended
except in accordance with the provisions of Section 11.01 of the Credit
Agreement.

          (f)  If any term or provision of this Amendment shall be deemed
prohibited by or invalid under any applicable law, such provision shall be
invalidated without affecting the remaining provisions of this Amendment or the
Credit Agreement, respectively.

          (g)  The Company covenants to pay to or reimburse the Agent, upon
demand, for all reasonable costs and expenses (including reasonable Attorney
Costs) incurred in connection with the

                                       3
<PAGE>

development, preparation, negotiation, execution and delivery of this Amendment.

     IN WITNESS WHEREOF,  the parties hereto have executed and delivered this
Amendment as of the date first above written.

                                      WEST MARINE FINANCE COMPANY, INC.

                                      BY   /s/ Russell Solt
                                         ---------------------------------------
                                         Russell Solt
                                         Senior Vice President and
                                         Chief Financial Officer

                                      BANK OF AMERICA, N.A., as Agent

                                      BY /s/ Gary Fliegar
                                         ---------------------------------------
                                         Gary Fliegar
                                         Vice President

                                      BANK OF AMERICA, N.A., as a Bank
                                      and an Issuing Bank

                                      BY /s/ Kenneth E. Jones
                                         ---------------------------------------
                                         Kenneth E. Jones
                                         Senior Vice President

                                      FLEET NATIONAL BANK, as a Bank

                                      BY /s/ Jeff Kinney
                                         ---------------------------------------
                                         Jeff Kinney
                                         Vice President

                                      UNION BANK OF CALIFORNIA, N.A.
                                      as a Bank

                                      BY /s/ James Goudy
                                         ---------------------------------------
                                         James Goudy
                                         Vice President

                                       4<PAGE>

                                                                     EXHIBIT 4.1

THIS INSTRUMENT OF RESIGNATION, APPOINTMENT AND ACCEPTANCE, ("Instrument"),
dated to be effective as of April 14, 2000 (the "Effective Date"), is by and
among Pillowtex Corporation, a Texas corporation (the "Company"), Norwest Bank
Minnesota, National Association, a national banking association organized and
existing under the laws of the United States having its principal corporate
trust office in Minneapolis, Minnesota (the "Resigning Trustee") and U.S. Bank
National Association, a national banking association organized and existing
under the laws of the United States having its principal corporate trust office
in St. Paul, Minnesota (the "Successor Trustee"). Capitalized terms not
otherwise defined herein shall have the same meaning ascribed to such terms in
the Indenture (as defined below).

                                   RECITALS
                                   --------

     WHEREAS, pursuant to an Indenture dated as of December 18, 1997 (as amended
or supplemented, the "Indenture") between the Company and the Resigning Trustee,
the Company issued its 9% Senior Subordinated Notes Due 2007 (Series A and
B)(the "Notes");

     WHEREAS, the Company appointed the Resigning Trustee as the paying agent
(the "Paying Agent") and registrar (the "Registrar") under the Indenture;

     WHEREAS, there is presently issued and outstanding $185,000,000 in
aggregate principal amount of the Notes;

     WHEREAS, the Indenture provides that the Trustee may resign at any time and
be discharged from the trusts created by the Indenture by notifying the Company
in writing;

     WHEREAS, the Indenture further provides that if the Trustee resigns, the
Company shall promptly appoint a successor Trustee;

     WHEREAS, the Resigning Trustee desires to resign, and the Company desires
to appoint the Successor Trustee as Trustee, Paying Agent and Registrar to
succeed the Resigning Trustee in such capacities under the Indenture and the
documents executed in connection with or related to the Indenture (collectively,
as amended or supplemented, the "Documents"); and

     WHEREAS, the Successor Trustee is willing to accept the appointment as
Trustee, Paying Agent and Registrar under the Indenture and the Documents.

     NOW, THEREFORE, in consideration of the covenants set forth herein and
other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto agree as follows:

     1.   Acceptance of Resignation of Resigning Trustee and Appointment of
          -----------------------------------------------------------------
Successor Trustee. The Company hereby accepts the resignation of the Resigning
-----------------
Trustee as Trustee, Paying Agent and Registrar under the Indenture and the
Documents. Pursuant to Section 7.08 of the Indenture, the Company hereby
appoints the Successor Trustee as Trustee, Paying Agent and Registrar under the
Indenture and the Documents, and vests and confirms to the Successor Trustee all
rights, powers, trusts, privileges, duties and obligations of the Trustee,
<PAGE>

Paying Agent and Registrar under the Indenture and the Documents. The Company
and the Resigning Trustee shall execute and deliver such further instruments and
shall do such other things as the Successor Trustee may reasonably request to as
to more fully and certainly vest and confirm in the Successor Trustee all the
rights, powers, privileges, duties and obligations assigned, transferred,
delivered and confirmed hereunder.

     2.   Company Representations and Warranties. The Company hereby represents
          --------------------------------------
and warrants to the Successor Trustee that:

     a.   It is duly organized and validly existing;

     b.   The Indenture and the Documents have been amended or supplemented
     pursuant to a Supplemental Indenture dated as of December 19, 1997 and a
     Second Supplemental Indenture dated as of July 28, 1998;

     c.   No Event of Default and no default exists under the Indenture or any
     of the Documents;

     d.   No covenant or condition contained in the Indenture or the Documents
     has been waived by the Holders of a percentage in aggregate principal
     amount of the Notes required by the Indenture to effect any such waiver;

     e.   The Notes are validly issued securities of the Company; and

     f.   The Company's execution and delivery of this Instrument do not and
     will not conflict with, or result in a breach of, any of the terms or
     provisions of, or constitute a default under, any (i) contract, agreement,
     indenture or other instrument (including, without limitation, the Company's
     certificate of incorporation and by-laws) to which the Company is a party
     or by which the Company or its property is bound, or (ii) any judgment,
     decree or order of any court or governmental agency or regulatory body or
     law, rule or regulation applicable to the Company or its property.

     3.   Resigning Trustee Representations and Warranties. The Resigning
          ------------------------------------------------
Trustee hereby represents and warrants to the Successor Trustee that:

     a.   It has not entered into any amendment or supplement to the Indenture
     or any of the Documents except as noted herein, and the Indenture and the
     Documents are in full force and effect;

     b.   No covenant or condition contained in the Indenture or the Documents
     has been waived by the Resigning Trustee or, to the best of the knowledge
     of the Resigning Trustee, by the holders of a percentage in aggregate
     principal amount of the Notes required by the Indenture to effect any such
     waiver;

     c.   There is no action, suit or proceeding pending or, to the best of the
     knowledge of the Resigning Trustee threatened, against the Resigning
     Trustee before any court or

                                       2
<PAGE>

     governmental authority arising out of any action or omission by the
     Resigning Trustee as Trustee, Paying Agent or Registrar under the Indenture
     or the Documents;

     d.   It has made, or promptly will make, available to the Successor Trustee
     originals, if available, or copies in its possession, of all Documents
     relating to the trusts created by the Indenture (the "Trusts") and all
     information in the possession of its corporate trust administration
     department relating to the administration and status of the Trusts and
     shall do such other things as the Successor Trustee may reasonably request
     to more fully vest and confirm in the Successor Trustee all the rights,
     powers, trusts, privileges, duties and obligations assigned and transferred
     hereby to the Successor Trustee;

     e.   To the best of its knowledge, it has lawfully discharged its duties as
     Trustee, Paying Agent and Registrar under the Indenture and the Documents;
     and

     f.   There is presently issued and outstanding $185,000,000 in aggregate
     principal amount of the Notes and interest has been paid through December
     15, 1999.

     4.   Successor Trustee Representation and Warranty. The Successor Trustee
          ---------------------------------------------
represents and warrants to the Resigning Trustee and the Company that:

     a.   it is qualified and eligible to serve as Trustee, Paying Agent and
     Registrar under the Indenture, the Documents and the Trust Indenture Act of
     1939, as amended (the "Act").

     5.   Acceptance by Successor Trustee. The Successor Trustee hereby accepts
          -------------------------------
its appointment, as of the Effective Date, as Successor Trustee, Paying Agent
and Registrar under the Indenture and the Documents, and assumes, as of the
Effective Date, all rights, powers, trusts, privileges, duties and obligations
of the Trustee, Paying Agent and Registrar thereunder, subject to the terms and
conditions therein. Promptly after the execution and delivery of this
Instrument, the Successor Trustee shall cause a notice, substantially in the
form of Exhibit A hereto, to be sent to each holder of the Notes in accordance
with Section 7.08 of the Indenture.

     6.   Assignment by Resigning Trustee. The Resigning Trustee hereby
          -------------------------------
confirms, assigns, transfers, delivers and conveys, as of the Effective Date, to
the Successor Trustee, as successor Trustee, Paying Agent and Registrar under
the Indenture and the Documents, upon the Trusts expressed in the Indenture, all
rights, powers, trusts, privileges, duties and obligations, which the Resigning
Trustee, as Trustee, Paying Agent and Registrar now holds under and by virtue of
the Indenture and the Documents, and shall pay over to the Successor Trustee,
any and all property and moneys held by the Resigning Trustee under and by
virtue of the Indenture and the Documents, subject to the lien provided by
Section 7.07 of the Indenture, which lien the Resigning Trustee expressly
reserves to the fullest extent necessary to secure the Company's obligations
under said Section to the Resigning Trustee, which lien shall also secure the
Company's obligations under said Section to the Successor Trustee.

                                       3
<PAGE>

     7.   Indemnification by Resigning Trustee. The Resigning Trustee agrees to
          ------------------------------------
pay or indemnify, as applicable, the Successor Trustee and save the Successor
Trustee harmless from and against any and all costs, claims, liabilities, losses
or damages whatsoever (including the reasonable fees, expenses and disbursements
of the Successor Trustee's legal counsel and other advisors) arising out of the
actual, alleged or adjudicated actions or omissions of the Resigning Trustee
that the Successor Trustee may suffer or incur as a result of the Successor
Trustee accepting this appointment and acting as successor Trustee, Paying Agent
and Registrar under the Indenture and the Documents. The Successor Trustee will
furnish to the Resigning Trustee, promptly upon receipt, all documents with
respect to any action the outcome of which would make the indemnity provided for
in this paragraph operative. The Successor Trustee shall promptly notify the
Resigning Trustee in writing (an, in any event, within no later than 10 days) of
any claim for which it may seek indemnity. The Resigning Trustee shall have the
right to elect to provide its own defense to any such claim and the Successor
Trustee shall cooperate fully in any such defense. In the event the Resigning
Trustee elects to provide its own defense, the Resigning Trustee shall not pay
for separate counsel to the Successor Trustee. The Resigning Trustee shall not
be obligated to pay for any settlement absent its consent.

     8.   Resigning Trustee's Lien and Payment of Fees, Expenses and
          ----------------------------------------------------------
Indemnification. The Resigning Trustee hereby appoints the Successor Trustee and
---------------
the Successor Trustee hereby acknowledges its appointment, as the Resigning
Trustee's agent with respect to the assertion, perfection and enforcement of the
Resigning Trustee's lien provided for in Section 7.07 of the Indenture to secure
the satisfaction of the Company's indemnification obligations to the Resigning
Trustee and its payment of the Resigning Trustee's past, current and future fees
and expenses as provided for in said Section 7.07 (said indemnification
obligations, fees and expenses, collectively, the "Resigning Trustee's Claims").
The Successor Trustee further acknowledges that the Resigning Trustee's Claims
are and will be due under Section 7.07 of the Indenture and thus, are included
within the "First" priority of payment provided for under Section 6.10 of the
Indenture.

     9.   Additional Documentation. The Company and the Resigning Trustee, for
          ------------------------
the purposes of more fully and certainly vesting in and confirming to the
Successor Trustee, as successor Trustee, Paying Agent, and Registrar under the
Indenture and the Documents, said rights, powers, trusts, privileges, duties and
obligations agrees, upon reasonable request of the Successor Trustee, to
execute, acknowledge and deliver such further instruments of conveyance and
further assurance and to do such other things as may reasonably be required for
more fully and certainly vesting and confirming to the Successor Trustee all
rights, powers, trusts, privileges, duties and obligations which the Resigning
Trustee now holds under and by virtue of the Indenture and the Documents.

     10.  Effective Date.  This Instrument and the resignation, appointment and
          --------------
acceptance effected hereunder shall be effective as of the close of business on
the Effective Date.

     11.  Governing Law. This Instrument shall be governed by and construed in
          -------------
accordance with the laws of the State of New York.

                                       4
<PAGE>

     12.  Counterparts. This Instrument may be executed in any number of
          ------------
counterparts, each of which shall be an original, but such counterparts shall
together constitute one and the same instrument.

     13.  Survival of Certain Obligations of the Company.  Notwithstanding the
          ----------------------------------------------
the resignation of the Resigning Trustee, as Trustee under the Indenture, the
Company shall remain obligated under the Indenture to compensate, reimburse and
indemnify the Resigning Trustee in connection with its trusteeship under the
Indenture, and nothing contained in this Instrument shall in any way abrogate
the obligations of the Company to the Resigning Trustee under the Indenture and
the Documents or any lien created thereunder in favor of the Resigning Trustee.

     14.  Notices. All notices, whether faxed or mailed will be deemed received
          -------
when sent pursuant to the following instructions:

          TO THE RESIGNING TRUSTEE:
          Julie J. Becker, Vice President
          Norwest Bank Minnesota, National Association
          Corporate Trust Services
          Sixth Street and Marquette Avenue
          Mac No. N9303-120
          Minneapolis, Minnesota 55479
          TELEPHONE:  (612) 316-4772
          TELECOPIER: (612) 667-9825

          TO THE SUCCESSOR TRUSTEE:
          Jeffrey C. Tupper, Vice President
          U.S. Bank National Association
          M.S. SPFT0210
          180 East Fifth Street
          St. Paul, Minnesota 55101
          TELEPHONE:  (651) 244-0743
          TELECOPIER: (651) 244-0089

          TO THE COMPANY:
          Jamie Vasquez, Treasurer
          Pillowtex Corporation
          4111 Mint Way
          Dallas, Texas 75237
          TELEPHONE:  (214) 333-3325
          TELECOPIER: (214) 467-0823

                                       5
<PAGE>

IN WITNESS WHEREOF, the parties have executed this Instrument to be effective as
of the day and year first above written.

Dated: April 13, 2000                   PILLOWTEX CORPORATION

                                                 By:  John F. Sterling
                                                 Its: Vice President

Dated: April 14, 2000                            NORWEST BANK MINNESOTA,
                                                 NATIONAL ASSOCIATION

                                                 By:  Julie J. Becker
                                                 Its: Vice President

Dated: April 12, 2000                            U.S. BANK NATIONAL ASSOCIATION

                                                 By:  Lori-Anne Rosenburg
                                                 Its: Assistant Vice President

                                       6
<PAGE>

                                   EXHIBIT A
                                   ---------

                             NOTICE TO HOLDERS OF
                             PILLOWTEX CORPORATION
                     9% SENIOR SUBORDINATED NOTES DUE 2007
                               (SERIES A AND B)

We hereby notify you of the resignation of Norwest Bank Minnesota, National
Association, as Trustee under the Indenture dated as of December 18, 1997 (as
amended or supplemented, the "Indenture"), pursuant to which the above-described
notes were issued and are outstanding.

Pillowtex Corporation has appointed US Bank National Association, whose
corporate Trust Office is located at 180 East Fifth Street, M.S. SPFT0210, St.
Paul, Minnesota 55101, as Successor Trustee under the Indenture, which
appointment has been accepted and has become effective.

                                       7

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00009-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00009-of-00352.parquet"}]]