Document:

EX-10.1

 

Exhibit 10.1

AMENDMENT NO. 1

to

AMENDED AND RESTATED CREDIT AGREEMENT AND GUARANTY

     This AMENDMENT NO. 1 dated as of April 15, 2008 (this “Amendment”) is by and among
HAMPSHIRE GROUP, LIMITED (the “Borrower”), HAMPSHIRE DESIGNERS, INC., ITEM-EYES, INC. and
SHANE HUNTER, INC. (collectively, the “Guarantors”), SB CORPORATION (“SB”), the
Banks party hereto and HSBC Bank USA, National Association, as Agent for the Banks.

RECITALS:

     A. The Borrower, the Guarantors, SB, the Banks and the Agent have entered into an Amended and
Restated Credit Agreement and Guaranty dated as of February 15, 2008 (the “Credit
Agreement”).

     B. The Borrower has requested, and the Banks and the Agent have agreed, to amend, among
others, Sections 7.06 (Ownership and Liens) and 9.07 (Mergers) , all upon the terms and conditions
set forth herein.

     C. The Banks are agreeable to such amendment, on the terms and subject to the conditions set
forth herein.

     NOW, THEREFORE, in consideration of the foregoing and for other good and valuable
consideration whose receipt and sufficiency are acknowledged, the Borrower, SB, the Guarantors, the
Banks and the Agent hereby agree as follows:

     Section 1. Definitions. Each capitalized term used but not defined in this Amendment
shall have the meaning ascribed to such term in the Credit Agreement.

     Section 2. Amendments of Credit Agreement

     2.01 Section 7.06 of the Credit Agreement is hereby amended as follows:

     (a) The parenthetical immediately following “Section 7.05 hereof” is hereby
deleted and the following parenthetical is substituted therefor: “(other than any
properties or assets disposed of in the ordinary course of business or as otherwise
permitted pursuant to this Agreement and the other Loan Documents)”.

 

 

     (b) The last sentence of Section 7.06 of the Credit Agreement is hereby deleted and
the following sentence is substituted therefor: “All trademarks owned by Borrower and/or
the Restricted Subsidiaries as of the date hereof are indicated on Schedule 7.06
hereto.”

     2.02 A new clause (iii) shall be added to Section 9.07 of the Credit Agreement to read as
follows (with punctuation in clauses (i) through (ii) in Section 9.07 of the Credit Agreement to be
changed accordingly): “or (iii) the sale of assets permitted pursuant to Section 9.04
hereof”.

     Section 3. Acknowledgments, Confirmations and Consent.

     3.01 Each of the Borrower and the Guarantors acknowledges and confirms that the Liens granted
pursuant to the Security Documents to which it is a party continue to secure the Obligations.

     3.02 Each Guarantor consents in all respects to the execution by the Borrower of this
Amendment and acknowledges and confirms that the Guaranty by such Guarantor, as set forth in
Article V of the Credit Agreement, guarantees the full payment and performance of all of the
Obligations, and remains in full force and effect in accordance with its terms.

     Section 4. Representations and Warranties. The Borrower and each Guarantor, as the
case may be, each represents and warrants to the Banks and the Agent as follows:

     4.01 After giving effect to this Amendment, (i) each of the representations and warranties set
forth in Article VII of the Credit Agreement is true and correct in all respects as if made on the
date of this Amendment, and (ii) no Default or Event of Default exists under the Credit Agreement.

     4.02 The Borrower and each Guarantor has the power to execute, deliver and perform, and has
taken all necessary action to authorize the execution, delivery and performance of, this Amendment
and the other agreements, instruments and documents to be executed by it in connection with this
Amendment. No consent or approval of any Person, no waiver of any Lien or right of distraint or
other similar right and no consent, license, certificate of need, approval, authorization or
declaration of, or filing with, any governmental authority, bureau or agency is or will be required
in connection with the execution, delivery or performance by the Borrower or any Guarantor, or the
validity, enforcement or priority, of this Amendment and the other agreements, instruments and
documents executed in connection with this Amendment.

     4.03 The execution, delivery and performance by the Borrower and each Guarantor of this
Amendment will not violate any Law, and will not result in, or require, the creation or imposition
of any Lien on any of its properties or revenues

 

 

pursuant to any Law except those in favor of the Agent.

     4.04 This Amendment has been duly executed and delivered by the Borrower or such Guarantor, as
the case may be, and constitutes the valid and legally binding obligation of the Borrower or such
Guarantor, as the case may be, enforceable in accordance with its terms, except as such enforcement
may be limited by applicable bankruptcy, insolvency, reorganization, moratorium, or other similar
laws, now or hereafter in effect, relating to or affecting the enforcement of creditors’ rights
generally and except that the remedy of specific performance and other equitable remedies are
subject to judicial discretion.

     Section 5. Miscellaneous.

     5.01 Except as specifically modified by this Amendment, the Credit Agreement and each of the
other Loan Documents shall remain in full force and effect in accordance with their respective
terms.

     5.02 THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF NEW YORK APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED ENTIRELY WITHIN SUCH STATE.

     5.03 This Amendment may be signed in any number of counterparts with the same effect as if all
parties to this Amendment signed the same counterpart.

     5.04 The Borrower agrees to pay the Agent upon demand all reasonable expenses, including
reasonable fees of attorneys for the Agent, incurred by the Agent in connection with the
preparation, negotiation and execution of this Amendment and any other agreements, instruments and
documents executed or furnished in connection with this Amendment.

     Section 6. Effectiveness of Amendment. This Amendment shall become effective upon
receipt by the Agent of (i) original counterparts of this Amendment duly executed by the Borrower,
the Guarantors and the Required Banks, and (ii) payment of the Agent’s legal fees and expenses.

[signature pages follow]

 

 

     IN WITNESS WHEREOF, the Borrower, SB, the Guarantors, the Banks party hereto and the Agent
have signed and delivered this Amendment as of the date first written above.

	 	 	 	 	 
	 	HAMPSHIRE GROUP, LIMITED

 	 
	 	By: 	/s/  Heath L. Golden	 
	 	 	Name:  	Heath L. Golden	 
	 	 	Title:  	Vice President, General Counsel and Secretary	 
	 

	 	 	 	 	 
	 	HAMPSHIRE DESIGNERS, INC.

 	 
	 	By:  	/s/  Heath L. Golden	 
	 	 	Name:  	Heath L. Golden	 
	 	 	Title:  	Secretary	 
	 

	 	 	 	 	 
	 	ITEM-EYES, INC.

 	 
	 	By:  	/s/  Heath L. Golden	 
	 	 	Name:  	Heath L. Golden	 
	 	 	Title:  	Secretary	 
	 

	 	 	 	 	 
	 	SHANE HUNTER, INC.

 	 
	 	By:  	/s/  Heath L. Golden	 
	 	 	Name:  	Heath L. Golden	 
	 	 	Title:  	Secretary	 
	 

	 	 	 	 	 
	 	SB CORPORATION

 	 
	 	By:  	/s/  Heath L. Golden	 
	 	 	Name:  	Heath L. Golden	 
	 	 	Title:  	Secretary	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	HSBC BANK USA, NATIONAL ASSOCIATION, as a Bank, as Letter of Credit Issuing Bank and as Agent

 	 
	 	By:  	/s/
Richard J. Elias 	 
	 	 	Name:  	Richard J. Elias 	 
	 	 	Title:  	Vice President 	 
	 

	 	 	 	 	 
	 	JPMORGAN CHASE BANK, N.A., as a Bank

 	 
	 	By:  	/s/
Joseph J. Nastri	 
	 	 	Name:  	Joseph J. Nastri 	 
	 	 	Title:  	Senior Vice President 	 
	 

	 	 	 	 	 
	 	ISRAEL DISCOUNT BANK OF NEW YORK, as a Bank

 	 
	 	By:  	/s/
George Commander 	 
	 	 	Name:  	George Commander 	 
	 	 	Title:  	Senior Vice President 	 
	 

	 	 	 	 	 
	 	 	 
	 	By:  	/s/
Juan Zaino
 	 
	 	 	Name:  	Juan Zaino
 	 
	 	 	Title:  	First Vice President 	 

 

 

	 	 	 	 	 

	 	 	 	 	 
	 	WACHOVIA BANK, NATIONAL ASSOCIATION, as a Bank

 	 
	 	By:  	/s/
Jeff Reeves	 
	 	 	Name:  	Jeff Reeves	 
	 	 	Title:  	Senior Vice President	 
	 

	 	 	 	 	 
	 	BANK LEUMI USA, as a Bank

 	 
	 	By:  	/s/
Paul J. De Chagas	 
	 	 	Name:  	Paul J. De Chagas	 
	 	 	Title:  	Vice President	 
	 

	 	 	 	 	 
	 	SOVEREIGN BANK, as a Bank

 	 
	 	By:  	/s/
Matilde Reyes	 
	 	 	Name:  	Matilde Reyes 	 
	 	 	Title:  	Senior Vice PresidentEX-4.1

 

EXHIBIT 4.1

	 	 	 
	Number *0*
	 	Shares *0*

	 	 	 
	 

	 	SEE REVERSE FOR IMPORTANT
	 

	 	NOTICE AND OTHER INFORMATION 

CUSIP  446150  401

THIS CERTIFICATE IS TRANSFERABLE

IN THE CITIES OF CANTON, MA AND JERSEY CITY, NJ

HUNTINGTON BANCSHARES INCORPORATED

a Corporation Formed Under the Laws of the State of Maryland

     THIS CERTIFIES THAT **Specimen** is the owner of **Zero (0)** fully paid and nonassessable
shares of 8.50% Series A Non-Cumulative Perpetual Convertible Preferred Stock, par value $.01 per
share, of

Huntington Bancshares Incorporated

(the “Corporation”) transferable on the books of the Corporation by the holder hereof in person or
by its duly authorized attorney, upon surrender of this Certificate properly endorsed. This
Certificate and the shares represented hereby are issued and shall be held subject to all of the
provisions of the charter of the Corporation and the Bylaws of the Corporation and any amendments
thereto. This Certificate is not valid unless countersigned and registered by the Transfer Agent
and Registrar.

     IN WITNESS WHEREOF, the Corporation has caused this Certificate to be executed on its behalf
by its duly authorized officers.

DATED                     

	 	 	 	 	 	 	 	 	 
	Countersigned and Registered:	 	 	 	 	 	 
	 Transfer Agent	 	 	 	 	 	(SEAL)
	 

	 	 	 	 	 	 	 	 
	 and Registrar	 	 	 	President	 	 
	 
	 	 	 	 	 	 	 	 
	By:
	 	 	 	 	 	 	 	 
	 

	 	 
	 	 	 	 	 	 
	 

	 	Authorized Signature
	 	 	 	Secretary	 	 

 

 

IMPORTANT NOTICE

          The Corporation will furnish to any stockholder, on request and without charge, a full
statement of the information required by Section 2-211(b) of the Corporations and Associations
Article of the Annotated Code of Maryland with respect to the designations and any preferences,
conversion and other rights, voting powers, restrictions, limitations as to dividends and other
distributions, qualifications, and terms and conditions of redemptions of the stock of each class
which the Corporation has authority to issue and, if the Corporation is authorized to issue any
preferred or special class in series, (i) the differences in the relative rights and preferences
between the shares of each series to the extent set, and (ii) the authority of the Board of
Directors to set such rights and preferences of subsequent series. The foregoing summary does not
purport to be complete and is subject to and qualified in its entirety by reference to the charter
of the Corporation (the “Charter”), a copy of which will be sent without charge to each stockholder
who so requests. Such request must be made to the Secretary of the Corporation at its principal
office or to the Transfer Agent.

KEEP THIS CERTIFICATE IN A SAFE PLACE. IF IT IS LOST, STOLEN

OR DESTROYED, THE CORPORATION WILL REQUIRE A BOND OF INDEMNITY AS A

CONDITION TO THE ISSUANCE OF A REPLACEMENT CERTIFICATE.

The following abbreviations, when used in the inscription on the face of this Certificate, shall be
construed as though they were written out in full according to applicable laws or regulations:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	     TEN COM

	 	-
	 	as tenants in common
	 	UNIF GIFT MIN ACT
	 	 	 	Custodian
	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 	 	 	 	 	 
	     TEN ENT

	 	-
	 	as tenants by the entireties
	 	 	 	(Custodian)
	 	 	 	(Minor)	 	 
	     JT TEN	 	-	 	as joint tenants with right of	 	under Uniform Gifts to Minors Act of                                         
	 	 	 	 	survivorship and not as tenants in common	 	 	 	 	 	(State)	 	 
	 	 	 	 	 	 	Additional abbreviations may also be used though not in the above list.

FOR VALUE
RECEIVED,                                          HEREBY SELLS, ASSIGNS AND TRANSFERS UNTO

 

(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE AND SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER, OF ASSIGNEE)

                                         (                    ) shares of 8.50% Series A Non-Cumulative Perpetual
Convertible Preferred Stock, par value $.01 per share, of the Corporation represented by this
Certificate and do hereby irrevocably constitute and appoint                                         
attorney to transfer the said shares of 8.50% Series A Non-Cumulative Perpetual Convertible
Preferred Stock, par value $.01 per share, on the books of the Corporation, with full power of
substitution in the premises.

	 	 	 
	Dated                                         

	 	NOTICE: The signature to this Assignment must correspond with the
name as written upon the face of the Certificate in every particular, without alteration or
enlargement or any change whatsoever.

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