Document:

EXHIBIT 10.3

 

Execution Version

August 21, 2003

Citibank, N.A.

388 Greenwich Street, 19th Floor

New York, NY 10013

Attn:  David J. Donofrio

Bank Hapoalim B.M.

1177 Avenue of the Americas

New York, New York 10036

Attn:  Laura A. Raffa, SVP

Fleet National Bank

100 Federal Street

Boston, MA  02110

Attn:  Dawn D. Gillette

Re: Stage Receivable Funding LP

Reference is hereby made to the Series 2001-1-VFC Certificate Purchase Agreement (as amended, modified or supplemented, the "Certificate Purchase Agreement") dated as of August 24, 2001 among Stage Receivable Funding LP, as "Transferor," Specialty Retailers (TX) LP, as "Servicer," Corporate Receivables Corporation, Blue Keel Funding, LLC ("Blue Keel") and the other commercial paper conduits from time to time party thereto as "Conduit Purchasers," Citibank, N.A., Fleet National Bank and the other financial institutions from time to time party thereto as "Committed Purchasers," (such Committed Purchasers, together with the Conduit Purchasers, collectively, the "Purchasers") Citicorp North America, Inc., Fleet Securities, Inc. and the other financial institutions from time to time party thereto as "Managing Agents" and Citicorp North America, Inc., as "Program Agent."  Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed to such terms in the Certificate Purchase Agreement.

Pursuant to Section 2.08 of the Certificate Purchase Agreement, the Transferor hereby requests that the Committed Purchasers agree to an extension of their Commitments for an Extension Term.  Each Committed Purchaser, by execution hereof, hereby agrees to extend its Commitment for the period of such Extension Term, and further agrees that the "Expiration Date" with respect to such Extension Term shall be October 21, 2003.

Each Purchaser, each Managing Agent and the Program Agent hereby waive the requirement of 30 days' notice of Transferor's intent to request an Extension Term contained in Section 2.08 of the Certificate Purchase Agreement.

This letter agreement shall become effective on the first Business Day (the "Effective Date") on which the Program Agent or its counsel has received counterpart signature pages of (i) this letter agreement, executed by each of the parties hereto and (ii) that certain Amendment Letter No. 4 to the Series 2001-1-VFC Supplement executed by each of the parties thereto.

This letter agreement 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 when taken together shall constitute but one and the same instrument.
STAGE RECEIVABLE FUNDING LP, as Transferor

                           
By: Stage Receivable Mgmt LLC,
        its general partner

By:  \s\ Richard E. Stasyszen

Name:  Richard E. Stasyszen

Title:  Manager

 

Acknowledged and agreed this 

21st day of August, 2003

 

CRC FUNDING LLC,

as Conduit Purchaser

By: Citicorp North America, Inc. as Attorney-in-Fact

By:  \s\ David J. Donofrio 

Name:  David J. Donofrio

Title:  Vice President

CITIBANK, N.A.,

as Committed Purchaser

By:  \s\ David J. Donofrio

Name:  David J. Donofrio

Title:  Vice President

 

BANK HAPOALIM B.M., as Committed Purchaser

 

 By:  \s\ James P. Surless

 Name:  James P. Surless

 Title:  Vice President

 

CITICORP NORTH AMERICA, INC.,

as Managing Agent and Program Agent

By:  \s\ David J. Donofrio

Name:  David J. Donofrio

Title:    Vice President

 

 

EAGLEFUNDING CAPITAL CORPORATION, as Conduit Purchaser

By Fleet Securities, Inc. as attorney-in-fact

By:  \s\ Peter M. Benham

Name:  Peter M. Benham

Title:  Director

 

FLEET NATIONAL BANK, as

Committed Purchaser

By:  Fleet Securities, Inc.

 

By:  \s\ Dawn D. Gillette

as agent for Fleet National Bank

Name:  Dawn D. Gillette

Title:  Vice President

FLEET SECURITIES, INC.,

as Managing Agent

By:  \s\ Peter M. Benham

Name:  Peter M. Benham

Title:  Vice PresidentConverted by FileMerlin

FIFTH SUPPLEMENTAL INDENTURE

FIFTH SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of May 23, 2003 among:  Dollar General Corporation (the “Company”), a corporation duly organized and existing under the laws of the State of Tennessee; Dolgencorp, Inc., a Kentucky corporation; Dolgencorp of Texas, Inc., a Kentucky corporation; DG Logistics, LLC, a Tennessee limited liability company; Dade Lease Management, Inc., a Delaware corporation; Dollar General Partners, a Kentucky general partnership; Dollar General Financial, Inc., a Tennessee corporation; Nations Title Company, Inc., a Tennessee corporation; Dollar General Intellectual Property, L.P., a Vermont limited partnership; The Greater Cumberland Insurance Company, a Vermont corporation; Dolgencorp of New York, Inc., a Kentucky corporation; Dollar General Stores, Ltd., a Kentucky limited partnership; DGC Properties, LLC, a Delaware limited liability company; DGC Properties of Kentucky, LLC, a Delaware limited liability company; Dollar General Investment, Inc., a Delaware corporation; and Lonestar Administrative Services, Inc., a Tennessee corporation (collectively, the “Existing Guarantors”); and Dollar General Global Sourcing Limited, a Hong Kong corporation (the “Additional Guarantor” and, together with the Existing Guarantors, the “Guarantors”); and Wachovia Bank, National Association, [formerly known as First Union National Bank] a national banking association, as trustee (the “Trustee”).

WITNESSETH

WHEREAS, the Company and the Existing Guarantors have heretofore executed and delivered to the Trustee an indenture (the “Indenture”), dated as of June 21, 2000, as amended by that certain First Supplemental Indenture dated as of July 28, 2000, that certain Second Supplemental Indenture dated as of June 18, 2001, that certain Third Supplemental Indenture dated as of June 20, 2002, and that certain Fourth Supplemental Indenture dated as of December 11, 2002, providing for the issuance of an aggregate principal amount of $200,000,000 of 8 5/8% Notes due June 15, 2010 (the “Notes”);

WHEREAS, Section 4.06 and Article X of the Indenture provide that under certain circumstances the Company may or must cause certain of its Subsidiaries to execute and deliver to the Trustee a supplement to the Indenture pursuant to which such Subsidiaries shall unconditionally guarantee all of the Company’s Obligations under the Notes pursuant to a Guarantee on the terms and conditions set forth herein; and 

WHEREAS, pursuant to Section 9.01 of the Indenture, the Trustee is authorized to execute and deliver this Supplemental Indenture.

NOW THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Company, the Additional Guarantor and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows:

1.

Capitalized Terms.  Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture.

2.

Agreement to Guarantee.  The Additional Guarantor hereby agrees, jointly and severally with all other Guarantors, to unconditionally guarantee the Company’s Obligations under the Notes and the Indenture on the terms and subject to the conditions set forth in Article X of the Indenture and to be bound by all other applicable provisions of the Indenture and the Notes.  The Additional Guarantor hereby agrees that its Guarantee shall remain in full force and effect notwithstanding any failure to endorse on each Note a notation of such Guarantee.  This Guarantee is subject to release as and to the extent provided in Section 10.04 of the Indenture.  This Guarantee shall remain in full force and effect irrespective of the release of the Guarantee of any Guarantor other than the Additional Guarantor making the Guarantee as provided in Section 10.04 of the Indenture.

3.

No Recourse Against Others.  No past, present or future director, officer, employee, incorporator, partner, member, shareholder or agent of any Guarantor, as such, shall have any liability for any obligations of the Company or any Guarantor under the Notes, any Guarantee, the Indenture or this Supplemental Indenture or for any claim based on, in respect of, or by reason of, such obligations.  Each Holder by accepting a Note waives and releases all such liability.  Such waiver and release form a part of the consideration for issuance of the Notes and the Guarantees.

4.

Governing Law.  This Supplemental Indenture shall be governed by, and construed in accordance with, the laws of the State of New York.

5.

Counterparts.  The parties may sign any number of copies of this Supplemental Indenture.  Each signed copy shall be an original, but all of them together represent the same agreement.

6.

Effect of Headings.  The Section headings herein are for convenience only and shall not affect the construction hereof.

7.

The Trustee.  The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Supplemental Indenture or for or in respect of the correctness of the recitals of fact contained herein, all of which recitals are made solely by the Additional Guarantor.

IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed and attested, all as of the date first above written.

 

DOLLAR GENERAL GLOBAL SOURCING 

LIMITED

	 	By:

	/s/ Wade Smith

Name:

Wade Smith

Title:

Treasurer

DOLLAR GENERAL CORPORATION

	 	By:

	/s/ Wade Smith

Name:

Wade Smith

Title:

Treasurer

DOLGENCORP, INC.

	 	By:

	/s/ Wade Smith

Name:

Wade Smith

Title:

Treasurer

DOLGENCORP OF TEXAS, INC.

	 	By:

	/s/ Wade Smith

Name:

Wade Smith

Title:

Treasurer

DG LOGISTICS, LLC

By:  Dolgencorp, Inc., its Managing Member

	 	By:

	/s/ Wade Smith

Name:

Wade Smith

Title:

Treasurer

DADE LEASE MANAGEMENT, INC.

	 	By:

	/s/ Wade Smith

Name:

Wade Smith

Title:

Treasurer

DOLLAR GENERAL PARTNERS

By:  Dolgencorp, Inc., a general partner

	 	By:

	/s/ Wade Smith

Name:

Wade Smith

Title:

Treasurer

By:  Dade Lease Management, Inc., a general partner

	 	By:

	/s/ Wade Smith

Name:

Wade Smith

Title:

Treasurer

By:  Dollar General Financial, Inc., a general partner

	 	By:

	/s/ Wade Smith

Name:

Wade Smith

Title:

Treasurer

DOLLAR GENERAL FINANCIAL, INC.

	 	By:

	/s/ Wade Smith

Name:

Wade Smith

Title:

Treasurer

NATIONS TITLE COMPANY, INC.

	 	By:

	/s/ Wade Smith

Name:

Wade Smith

Title:

Treasurer

DOLLAR GENERAL INTELLECTUAL 

PROPERTY, L.P.

By:  Dade Lease Management, Inc., its General Partner

	 	By:

	/s/ Wade Smith

Name:

Wade Smith

Title:

Treasurer

THE GREATER CUMBERLAND INSURANCE

COMPANY

	 	By:

	/s/ Wade Smith

Name:

Wade Smith

Title:

Treasurer

DOLGENCORP OF NEW YORK, INC.

	 	By:

	/s/ Wade Smith

Name:

Wade Smith

Title:

Treasurer

DOLLAR GENERAL STORES, LTD.

By:  Dolgencorp, Inc., its general partner

	 	By:

	/s/ Wade Smith

Name:

Wade Smith

Title:

Treasurer

DGC PROPERTIES, LLC

By:  Dolgencorp, Inc., its Managing Member

	 	By:

	/s/ Wade Smith

Name:

Wade Smith

Title:

Treasurer

DGC PROPERTIES OF KENTUCKY, LLC

By:  Dollar General Partners, its Managing Member

By:  Dolgencorp, Inc., a general partner

	 	By:

	/s/ Wade Smith

Name:

Wade Smith

Title:

Treasurer

By:  Dade Lease Management, Inc., a general partner

	 	By:

	/s/ Wade Smith

Name:

Wade Smith

Title:

Treasurer

By:  Dollar General Financial, Inc., a general partner

	 	By:

	/s/ Wade Smith

Name:

Wade Smith

Title:

Treasurer

DOLLAR GENERAL INVESTMENT, INC.

	 	By:

	/s/ Wade Smith

Name:

Wade Smith

Title:

Treasurer

LONESTAR ADMINISTRATIVE SERVICES, INC.

	 	By:

	/s/ Wade Smith

Name:

Wade Smith

Title:

Treasurer

WACHOVIA BANK, NATIONAL ASSOCIATION, 

TRUSTEE

	 	By:

	/s/ Greta Wright

Name:

Greta Wright

Title:

Vice President

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