Document:

Exhibit 10.1

Exhibit 10.1

FIRST AMENDMENT

FIRST AMENDMENT, dated as of March 22, 2010 (this “First Amendment”), to the Amended
and Restated Credit Agreement, dated as of February 13, 1998, as amended and restated as of
December 10, 2003 and March 4, 2004, as further amended and restated as of October 2, 2009 (the
“Credit Agreement”), among Nebraska Book Company, Inc., a Kansas corporation (the
“Borrower”), NBC Holdings Corp., NBC Acquisition Corp., the lenders party from time to time
thereto (the “Lenders”), JPMorgan Chase Bank, N.A., as administrative agent (in such
capacity, the “Administrative Agent”) and collateral agent, Wells Fargo Bank, National
Association, as syndication agent, and Bank of America, N.A., as documentation agent.

W I T N E S S E T H:

WHEREAS, the Borrower, the Lenders and the Administrative Agent are parties to the Credit
Agreement;

WHEREAS, the Borrower has requested that the Lenders amend the Credit Agreement, as more fully
described herein; and

WHEREAS, the Lenders and the Administrative Agent are willing to agree to such amendment to
the Credit Agreement, subject to the terms and conditions set forth herein;

NOW, THEREFORE, in consideration of the premises and mutual covenants contained herein, the
Borrower, the Lenders and the Administrative Agent hereby agree as follows:

1. Defined Terms. Unless otherwise defined herein, capitalized terms which are
defined in the Credit Agreement are used herein as therein defined.

2. Amendments to Section 1.1 (Defined Terms).

(a) Section 1.1 of the Credit Agreement is amended by adding the following definitions in
proper alphabetical order:

“Deposit Account”: as defined in the Guarantee and Collateral Agreement.

“Reserved Local Blocked Account”: as defined in the Guarantee and Collateral
Agreement.

(b) The definition of “Reserves” set forth in Section 1.1 of the Credit Agreement is
amended in its entirety as follows:

“Reserves”: any and all reserves which the Administrative Agent deems
necessary, in its Permitted Discretion, to maintain (including, without limitation, the
Dilution Reserve, reserves for accrued and unpaid interest on the Obligations, reserves in
respect of Banking Services, volatility reserves, Rent Reserves, reserves in connection with
any Reserved Local Blocked Account, reserves for Inventory shrinkage, reserves for customs
charges and shipping charges related to any Inventory in transit, reserves for Swap
Obligations, reserves for contingent liabilities of any Loan Party, reserves for uninsured
losses of any Loan Party, reserves for uninsured, underinsured, un-indemnified or
under-indemnified liabilities or potential liabilities with respect to any litigation and
reserves for taxes, fees, assessments, and other governmental charges) with respect to the
Collateral or any Loan Party.

 

 

 

3. Amendment to Section 6.10 (“Control Agreements”). Section 6.10(b) of the Credit
Agreement is amended in its entirety as follows:

“(b) The Borrower shall determine the aggregate balance of cash and Cash Equivalents
of all Loan Parties in accounts (including Reserved Local Blocked Accounts but other than
(i) each Deposit Account, the funds in which are used, in the ordinary course of business,
solely for the payment of salaries and wages, workers’ compensation, pension benefits and
similar expenses or taxes related thereto, (ii) each Deposit Account (other than a Reserved
Local Blocked Account) used, in the ordinary course of business, solely for daily accounts
payable and that has an ending daily balance of zero and (iii) each Deposit Account (other
than Reserved Local Blocked Accounts) used in the ordinary course of business for local
store accounts (which shall be governed by Section 6.4 of the Guarantee and Collateral
Agreement)) not subject to Deposit Account Control Agreements or other appropriate control
agreements in favor of the Administrative Agent in form and substance reasonably
satisfactory to the Administrative Agent at each time when the Borrower delivers Borrowing
Base reports pursuant to Section 6.2(g), and (x) if such aggregate balance under clause (ii)
above shall at any time of determination exceed $1,000,000, the Borrower shall promptly
eliminate such excess from such accounts or shall within 30 days enter, or cause the
applicable Loan Parties to enter, into one or more Deposit Account Control Agreements or
other appropriate control agreements in favor of the Administrative Agent in form and
substance reasonably satisfactory to the Administrative Agent so that there shall not
thereafter be any such excess and (y) if such aggregate balance in Reserved Local Blocked
Accounts shall at any time of determination exceed $2,000,000, the Borrower shall, within 3
Business Days, eliminate such excess from such accounts; provided, however, that the
Borrower shall have 90 days after the Closing Date (or such later date as the Administrative
Agent shall agree in its Permitted Discretion) to obtain such Deposit Account Control
Agreements or other appropriate control agreements.”

4. Amendment to Section 8 (“Events of Default”). Section 8(c) of the Credit Agreement
is amended in its entirety as follows:

“(c) Any Loan Party shall default in the observance or performance of any agreement
contained in (i) clause (i) or (ii) of Section 6.4(a) (with respect to Holdings and the
Borrower only), Section 6.7(a), 6.10(b)(y) or Section 7, or (ii) clause (e) of Section 2.9
or clause (j) of Section 6.2, and in the case of this clause (ii) such default shall
continue unremedied for a period of 3 Business Days (or, during any period that is not an
FCCR Compliance Period, any default under clause (j) of Section 6.2 shall continue
unremedied for a period of 30 days); or”

5. Authorization. The Lenders party hereto hereby authorize the Administrative Agent
to enter into an amendment to the Guarantee and Collateral Agreement in form and substance
substantially as set forth on Annex A attached hereto.

6. Representations and Warranties. The Borrower hereby confirms, reaffirms and
restates the representations and warranties set forth in Section 4 of the Credit Agreement, as
amended by this First Amendment. The Borrower represents and warrants that, after giving effect to
this First Amendment, no Default or Event of Default has occurred and is continuing.

7. Effectiveness. This First Amendment shall become effective on the date the
following conditions precedent are satisfied:

(a) First Amendment. The Administrative Agent shall have received this First
Amendment executed and delivered by the Administrative Agent, the Borrower, the Lenders party to
the

 

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Credit Agreement constituting the “Required Lenders” thereunder.

(b) First Amendment to the Guarantee and Collateral. The Administrative Agent shall
have received the First Amendment to the Guarantee and Collateral Agreement, dated the date hereof,
executed and delivered by the Administrative Agent, the Borrower and each other Loan Party.

8. Continuing Effect of the Credit Agreement. This First Amendment shall not
constitute an amendment of any other provision of the Credit Agreement not expressly referred to
herein and shall not be construed as a waiver or consent to any further or future action on the
part of the Borrower that would require a waiver or consent of the Lenders or the Administrative
Agent. Except as expressly amended hereby, the provisions of the Credit Agreement are and shall
remain in full force and effect.

9. Counterparts. This First Amendment may be executed by the parties hereto in any
number of separate counterparts (including facsimiled and other electronically transmitted
counterparts), each of which shall be deemed to be an original, and all of which taken together
shall be deemed to constitute one and the same instrument.

10. GOVERNING LAW. THIS FIRST AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES
UNDER THIS FIRST AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH,
THE LAWS OF THE STATE OF NEW YORK.

11. Expenses. The Borrower agrees to pay or reimburse the Administrative Agent for
all of its reasonable and documented out-of-pocket costs and expenses incurred in connection with
the preparation, negotiation and execution of this First Amendment, including, without limitation,
the reasonable fees and disbursements of counsel to the Administrative Agent.

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IN WITNESS WHEREOF, the parties hereto have caused this First Amendment to be duly executed
and delivered by their proper and duly authorized officers as of the day and year first above
written.

	 	 	 	 	 
	 	NBC HOLDINGS CORP.

 	 
	 	By:  	/s/ Alan G. Siemek
 	 
	 	 	Name:  	Alan G. Siemek 	 
	 	 	Title:  	Treasurer 	 
	 
	 	NBC ACQUISITION CORP.

 	 
	 	By:  	/s/ Alan G. Siemek
 	 
	 	 	Name:  	Alan G. Siemek 	 
	 	 	Title:  	Treasurer 	 
	 
	 	NEBRASKA BOOK COMPANY, INC.

 	 
	 	By:  	/s/ Alan G. Siemek
 	 
	 	 	Name:  	Alan G. Siemek 	 
	 	 	Title:  	Treasurer 	 
	 
	 	JPMORGAN CHASE BANK, N.A., as

Administrative Agent and as a Lender

 	 
	 	By:  	/s/ Eric H. Pratt
 	 
	 	 	Name:  	Eric H. Pratt 	 
	 	 	Title:  	Vice President 	 
	 

 

 

 

Signature page to the First Amendment

dated as of March 17, 2010 to the

NEBRASKA BOOK COMPANY, INC.

Amended and Restated Credit Agreement

	 	 	 	 	 
	 	BANK OF AMERICA, N.A.,

as a Lender

 	 
	 	By:  	/s/ Richard D. Hill, Jr.
 	 
	 	 	Name:  	Richard D. Hill, Jr. 	 
	 	 	Title:  	Managing Director 	 
	 

 

 

 

Signature page to the First Amendment

dated as of March 22, 2010 to the

NEBRASKA BOOK COMPANY, INC.

Amended and Restated Credit Agreement

	 	 	 	 	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, as a Lender

 	 
	 	By:  	/s/ Geoffrey Headington
 	 
	 	 	Name:  	Geoffrey Headington 	 
	 	 	Title:  	Director 	 

 

 

 

ANNEX A

First Amendment to the Guarantee and Collateral AgreementExhibit 10.2

Exhibit 10.2

FIRST AMENDMENT

FIRST AMENDMENT, dated as of March 22, 2010 (this “First Amendment”), to the First
Lien Amended and Restated Guarantee and Collateral Agreement, dated as of February 13, 1998, as
amended and restated as of December 10, 2003 and March 4, 2004, as further amended and restated as
of October 2, 2009 (the “Guarantee and Collateral Agreement”), among Nebraska Book Company,
Inc., a Kansas corporation (the “Borrower”), NBC Holdings Corp. (“SuperHoldings”),
NBC Acquisition Corp. (“Holdings”) and certain of their subsidiaries in favor of JPMorgan
Chase Bank, N.A., as administrative agent (in such capacity, the “Administrative Agent”)
and collateral agent for certain of the Lenders party to the Guarantee and Collateral Agreement.

W I T N E S S E T H:

WHEREAS, the Borrower, SuperHoldings, Holdings, the other Grantors and the Administrative
Agent are parties to the Guarantee and Collateral Agreement;

WHEREAS, the Borrower has requested that the Administrative Agent amend the Guarantee and
Collateral Agreement, as more fully described herein; and

WHEREAS, the Administrative Agent is willing to agree to such amendment to the Guarantee and
Collateral Agreement, subject to the terms and conditions set forth herein;

NOW, THEREFORE, in consideration of the premises and mutual covenants contained herein, the
Borrower, the Administrative Agent hereby agree as follows:

1. Defined Terms. Unless otherwise defined herein, capitalized terms which are
defined in the Guarantee and Collateral Agreement are used herein as therein defined.

2. Amendments to Section 1.1 (Defined Terms).

(a) Section 1.1 of the Guarantee and Collateral Agreement is amended by adding the following
definition in proper alphabetical order:

“Reserved Local Blocked Account”: certain accounts of the Grantors not subject
to a Local Blocked Account Agreement as set forth on Schedule 13, as such Schedule may be
updated from time to time.

3. Amendment to Section 6.4 (“Local Store Accounts”).

(a) Section 6.4(a)(iii) of the Guarantee and Collateral Agreement is amended in its
entirety as follows:

“(iii) on or before the 90th day after the Closing Date (or such later date
as agreed by the Administrative Agent in its sole discretion), a fully executed Local
Blocked Account Agreement satisfactory in form and substance to the Administrative Agent
with each Local Blocked Account Bank (collectively, the “Local Blocked Accounts”)
identified by the Administrative Agent; provided that no Local Blocked Account
Agreement shall be required with respect to any Reserved Local Blocked Accounts so long as
the Borrower is in compliance with Section 6.10(b) of the Credit Agreement.”

 

 

 

(b) Sections 6.4(h) of the Guarantee and Collateral Agreement is amended in its
entirety as follows:

“(h) Upon the request of the Administrative Agent, the Loan Parties shall cause bank
statements and/or other reports to be delivered to the Administrative Agent not less often
than monthly, accurately setting forth all amounts deposited in each Local Blocked Account
and each Reserved Local Blocked Account to ensure the proper transfer of funds as set forth
above.”

4. Representations and Warranties. Each Grantor hereby confirms, reaffirms and
restates the representations and warranties set forth in Section 4 of the Guarantee and Collateral
Agreement, as amended by this First Amendment. The Borrower represents and warrants that, after
giving effect to this First Amendment, no Default or Event of Default has occurred and is
continuing.

5. Effectiveness. This First Amendment shall become effective on the date the
following conditions precedent are satisfied:

(a) First Amendment. The Administrative Agent shall have received this First
Amendment executed and delivered by the Administrative Agent, the Borrower and each other Loan
Party; and

(b) First Amendment to the Credit Agreement. The Administrative Agent shall have
received the First Amendment to the Credit Agreement, dated the date hereof, executed and delivered
by the Borrower and each other Loan Party, the Administrative Agent and the Lenders party to the
Credit Agreement constituting the “Required Lenders” thereunder.

6. Continuing Effect of the Guarantee and Collateral Agreement. This First Amendment
shall not constitute an amendment of any other provision of the Guarantee and Collateral Agreement
not expressly referred to herein and shall not be construed as a waiver or consent to any further
or future action on the part of the Borrower or any other Loan Party that would require a waiver or
consent of the Lenders or the Administrative Agent. Except as expressly amended hereby, the
provisions of the Guarantee and Collateral Agreement are and shall remain in full force and effect.

7. Counterparts. This First Amendment may be executed by the parties hereto in any
number of separate counterparts (including facsimiled and other electronically transmitted
counterparts), each of which shall be deemed to be an original, and all of which taken together
shall be deemed to constitute one and the same instrument.

8. GOVERNING LAW. THIS FIRST AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES
UNDER THIS FIRST AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH,
THE LAWS OF THE STATE OF NEW YORK.

9. Expenses. The Borrower agrees to pay or reimburse the Administrative Agent for all
of its reasonable and documented out-of-pocket costs and expenses incurred in connection with the
preparation, negotiation and execution of this First Amendment, including, without limitation, the
reasonable fees and disbursements of counsel to the Administrative Agent.

[rest of page intentionally left blank]

 

 

 

IN WITNESS WHEREOF, the parties hereto have caused this First Amendment to be duly executed
and delivered by their proper and duly authorized officers as of the day and year first above
written.

	 	 	 	 	 
	 	NBC HOLDINGS CORP.

 	 
	 	By:  	/s/ Alan G. Siemek
 	 
	 	 	Name:  	Alan G. Siemek 	 
	 	 	Title:  	Treasurer 	 
	 
	 	NBC ACQUISITION CORP.

 	 
	 	By:  	/s/ Alan G. Siemek
 	 
	 	 	Name:  	Alan G. Siemek 	 
	 	 	Title:  	Treasurer 	 
	 
	 	NEBRASKA BOOK COMPANY, INC.

 	 
	 	By:  	/s/ Alan G. Siemek
 	 
	 	 	Name:  	Alan G. Siemek 	 
	 	 	Title:  	Treasurer 	 
	 
	 	SPECIALTY BOOKS, INC.

 	 
	 	By:  	/s/ Alan G. Siemek
 	 
	 	 	Name:  	Alan G. Siemek 	 
	 	 	Title:  	Treasurer 	 
	 
	 	NBC TEXTBOOKS LLC

 	 
	 	By:  	/s/ Alan G. Siemek
 	 
	 	 	Name:  	Alan G. Siemek 	 
	 	 	Title:  	Treasurer 	 
	 
	 	COLLEGE BOOKSTORES OF AMERICA, INC.

 	 
	 	By:  	/s/ Alan G. Siemek
 	 
	 	 	Name:  	Alan G. Siemek 	 
	 	 	Title:  	Treasurer 	 
	 

 

 

 

	 	 	 	 	 
	 	CAMPUS AUTHENTIC LLC

 	 
	 	By:  	/s/ Alan G. Siemek
 	 
	 	 	Name:  	Alan G. Siemek 	 
	 	 	Title:  	Treasurer 	 

 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	NET TEXTSTORE LLC

 	 
	 	By:  	/s/ Alan G. Siemek
 	 
	 	 	Name:  	Alan G. Siemek 	 
	 	 	Title:  	Treasurer 	 
	 
	 	JPMORGAN CHASE BANK, N.A., as

Administrative Agent and as a Lender

 	 
	 	By:  	/s/ Eric H. Pratt
 	 
	 	 	Name:  	Eric H. Pratt 	 
	 	 	Title:  	Vice President 	 
	 

 

 

 

Schedule 13

Reserved Local Blocked Accounts

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