Document:

ex10-2.htm

Exhibit 10.26

 

LIMITED WAIVER AND AMENDMENT NO. 9 TO CREDIT AGREEMENT

 

This LIMITED WAIVER AND AMENDMENT NO. 9 TO CREDIT AGREEMENT (this “Amendment”) is dated as of March 12, 2013 by and among INTERNATIONAL TEXTILE GROUP, INC., a Delaware corporation (“ITG”), the other Borrowers and Credit Parties signatory hereto, GENERAL ELECTRIC CAPITAL CORPORATION, a Delaware corporation (“GE Capital”), for itself and as Agent (“Agent”), and the other Lenders signatory hereto.  Unless otherwise specified herein, capitalized terms used in this Amendment shall have the meanings ascribed to them in the Credit Agreement (as hereinafter defined).

 

R E C I T A L S:

 

WHEREAS, Borrowers, the other Credit Parties, the Agent and the Lenders entered into that certain Amended and Restated Credit Agreement dated as of March 30, 2011 (as amended, supplemented, restated or otherwise modified from time to time, the “Credit Agreement”); and

 

WHEREAS, the parties to the Credit Agreement have agreed to a limited waiver of, and an amendment to, the Credit Agreement as set forth herein.

 

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

 

1           Limited Waiver.  Agent and the Lenders hereby waive any Event of Default that has occurred under Section 7.1(i) of the Credit Agreement solely to the extent any such Event of Default occurred on or prior to the Ninth Amendment Effective Date.

 

2           Amendments to Credit Agreement.

 

2.1           Section 5.4(f) of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

 

“(f) the Investment by ITG in ITG – Phong Phu Limited Company, a joint venture organized under the laws of Vietnam (“Phong Phu”), in the form of an unsecured subordinated loan from ITG (either directly or through one of its Subsidiaries) to Phong Phu (the “Phong Phu JV Loan”); provided that (v) such Investment shall be made by no later than June 24, 2011, (w) such Investment shall not exceed $3,500,000, (x) at the time such Investment is made, no Default or Event of Default shall have occurred and be continuing, (y) such Phong Phu JV Loan shall be evidenced by a promissory note in form and substance satisfactory to the Agent and delivered to the Agent in original copy together with instruments of transfer executed in blank and (z) either (i) such Phong Phu JV Loan shall have been repaid in full in cash by Phong Phu by no later than the date one month prior to the stated expiry date, non-renewal date or termination date of the WLR/RBS Letter of Credit (the “WLR/RBS Letter of Credit Trigger Date”) (which repayment shall have been evidenced by a certificate of a Responsible Officer of the Borrower Representative delivered to Agent certifying that such amounts have been repaid by Phong Phu by no later than such date) or (ii) Agent, for the benefit of the Lenders, shall have received payment under the WLR/RBS Letter of Credit in the full amount thereof on or before expiration, non-renewal or termination of the WLR/RBS Letter of Credit in accordance with its terms (which amounts shall have been applied by Agent first to prepay outstanding Swing Loans, and second to prepay outstanding Revolving Loans owing by the Borrowers without a permanent reduction of the Aggregate Revolving Loan Commitment); provided that, to the extent the Phong Phu JV Loan shall have been repaid in full in cash by Phong Phu to ITG on or prior to the WLR/RBS Letter of Credit Trigger Date, Agent shall, on behalf of the Lenders, terminate the WLR/RBS Letter of Credit in accordance with its terms;”

 

  

  

  

 

2.2           Section 7.1(i) of the Credit Agreement is hereby amended and restated in its entirety to read as follows:

 

“(i)           Secured Note Indebtedness.  If the final stated maturity date of the Secured Note Indebtedness has not been extended to a date no earlier than ninety-five (95) days after the later of the Revolving Termination Date and the final scheduled installment payment date for the Term Loan, the occurrence of the date sixty-nine (69) days prior to the final stated maturity date of the Secured Note Indebtedness; or”

 

2.3           Section 11.1 of the Credit Agreement is hereby amended by inserting the following new defined terms in proper alphabetical order thereto:

 

““Ninth Amendment Effective Date” has the meaning assigned to such term in that certain Limited Waiver and Amendment No. 9 to Credit Agreement dated as of March 12, 2013 among Borrowers, the other Credit Parties signatory thereto, Agent and the Lenders signatory thereto.”

 

2.4           Section 11.1 of the Credit Agreement is hereby amended by amending and restating the following defined terms in their entirety to read as follows:

 

““WLR/RBS Letter of Credit” means (A) prior to the Ninth Amendment Effective Date, an irrevocable standby letter of credit in form and substance satisfactory to Agent that (i) is issued by RBS Citizens, N.A. in an amount equal to $3,675,000, (ii) names GE Capital, in its capacity as Agent for itself and the Lenders, as the beneficiary thereof and (iii) names WLR Recovery Fund IV L.P. as the applicant, which letter of credit shall have been delivered in original copy to Agent on the Second Amendment Effective Date and (A) which letter of credit shall have been amended (the “WLR/RBS LC Amendment”) on or prior to the Sixth Amendment Effective Date in a manner satisfactory to Agent to (x) extend the expiration date thereof from June 13, 2012 to December 22, 2012, (y) change the reference to May 14, 2012 therein to November 22, 2012 and (z) provide that Agent may request payment thereunder to the extent an Event of Default shall have occurred and be continuing and (B) which letter of credit shall have been further amended (the “Second WLR/RBS LC Amendment”) on or prior to the Eighth Amendment Effective Date in a manner satisfactory to Agent to (x) extend the expiration date thereof from December 31, 2012 to March 31, 2013 and (y) change the reference to November 22, 2012 therein to February 28, 2013 and (B) from and after the Ninth Amendment Effective Date, an evergreen standby letter of credit in form and substance satisfactory to Agent (the “Replacement WLR/RBS Letter of Credit”) that (i) is issued by RBS Citizens, N.A. in an amount equal to $3,675,000, (ii) names GE Capital, in its capacity as Agent for itself and the Lenders, as the beneficiary thereof, and (iii) names WLR Recovery Fund IV, L.P. as the applicant, which letter of credit shall have been delivered in original copy to Agent on or prior to the Ninth Amendment Effective Date.”

 

  

-2-

  

 

““WLR/RBS Letter of Credit II” means (A) prior to the Eighth Amendment Effective Date, (x) an evergreen standby letter of credit in form and substance satisfactory to Agent that (i) is issued by RBS Citizens, N.A. in an amount equal to $20,000,000, (ii) names GE Capital, in its capacity as Agent for itself and the Lenders, as the beneficiary thereof, and (iii) names WLR Recovery Fund IV, L.P. as the applicant, which letter of credit shall have been delivered in original copy to Agent on or prior to the Fourth Amendment Effective Date, as amended from time to time, or (y) any replacement evergreen standby letter of credit that names GE Capital, in its capacity as Agent for itself and the Lenders, as the beneficiary thereof, and WLR Recovery Fund IV, L.P. as the applicant, which letter of credit shall have been issued in accordance with Section 1 of the Support Agreement and which letter of credit shall have been delivered in original copy to Agent, (B) from and after the Eighth Amendment Effective Date but prior to the Ninth Amendment Effective Date, an irrevocable standby letter of credit in form and substance satisfactory to Agent (the “Replacement WLR/RBS Letter of Credit II”) that (i) is issued by RBS Citizens, N.A. in an amount equal to $20,000,000, (ii) names GE Capital, in its capacity as Agent for itself and the Lenders, as the beneficiary thereof, and (iii) names WLR Recovery Fund IV, L.P. as the applicant, which letter of credit shall have been delivered in original copy to Agent on or prior to the Eighth Amendment Effective Date and (C) from and after the Ninth Amendment Effective Date, (x) an evergreen standby letter of credit in form and substance satisfactory to Agent (the “Second Replacement WLR/RBS Letter of Credit II”) that (i) is issued by RBS Citizens, N.A. in an amount equal to $20,000,000, (ii) names GE Capital, in its capacity as Agent for itself and the Lenders, as the beneficiary thereof, and (iii) names WLR Recovery Fund IV, L.P. as the applicant, which letter of credit shall have been delivered in original copy to Agent on or prior to the Ninth Amendment Effective Date, as amended from time to time, or (y) any replacement evergreen standby letter of credit that names GE Capital, in its capacity as Agent for itself and the Lenders, as the beneficiary thereof, and WLR Recovery Fund IV, L.P. as the applicant, which letter of credit shall have been issued in accordance with Section 1 of the Support Agreement and which letter of credit shall have been delivered in original copy to Agent.”

 

3           Representations and Warranties.  In order to induce Agent and the Lenders to enter into this Amendment, each Borrower and each other Credit Party represents and warrants to Agent and each Lender (which representations and warranties shall survive the execution and delivery of this Amendment), that:

 

(a)           the execution, delivery and performance by each Credit Party of this Amendment has been duly authorized by all necessary corporate and partnership action and this Amendment is a legal, valid and binding obligation of such Credit Party enforceable against such Credit Party in accordance with its terms; and

 

(b)           upon the effectiveness of this Amendment, all of the representations and warranties contained in the Credit Agreement and in the other Loan Documents (other than those which speak expressly only as of an earlier date) are true and correct in all material respects on and as of the date of the effectiveness of this Amendment after giving effect to this Amendment and the transactions contemplated hereby.

 

  

-3-

  

 

4           Conditions to Effectiveness.  This Amendment shall be effective on the date when each of the following conditions has been satisfied (the “Ninth Amendment Effective Date”):

 

(a)           This Amendment shall have been duly executed and delivered by each Borrower, each other Credit Party party hereto, Agent, the Supermajority Revolving Lenders and the Majority Lenders;

 

(b)           Agent shall have received duly executed and delivered copies of the Replacement WLR/RBS Letter of Credit and the Second Replacement WLR/RBS Letter of Credit II; and

 

(c)           Agent shall have received, to the extent invoiced, payment of all out-of-pocket expenses (including the legal fees and expenses of Latham & Watkins LLP, counsel to Agent).

 

5           Miscellaneous.

 

5.1           Effect; Ratification.

 

(a)           Except as specifically set forth above, the Credit Agreement and the other Loan Documents shall remain in full force and effect and are hereby ratified and confirmed.  Without limiting the generality of the foregoing, each Credit Party reaffirms its guaranty of the Obligations and the Liens securing those guaranties.

 

(b)           The execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of Agent or any Lender under the Credit Agreement or any other Loan Document, nor constitute amendment of any provision of the Credit Agreement or any other Loan Document, except as specifically set forth herein.  Upon the effectiveness of this Amendment, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “hereof”, “herein” or words of similar import shall mean and be a reference to the Credit Agreement as amended hereby.

 

(c)           Each Credit Party acknowledges and agrees that the amendments set forth herein are effective solely for the purposes set forth herein and that the execution and delivery by Agent and the Lenders of this Amendment shall not be deemed (i) except as expressly provided in this Amendment, to be a consent to any amendment, waiver or modification of any term or condition of the Credit Agreement or of any other Loan Document, (ii) to create a course of dealing or otherwise obligate Agent or Lenders to forbear, waive, consent or execute similar amendments under the same or similar circumstances in the future, or (iii) to amend, prejudice, relinquish or impair any right of Agent or Lenders to receive any indemnity or similar payment from any Person or entity as a result of any matter arising from or relating to this Amendment.

 

  

-4-

  

 

5.2           Counterparts and Signatures by Fax.  This Amendment may be executed in any number of counterparts, each such counterpart constituting an original but all together one and the same instrument.  Any party delivering an executed counterpart of this Amendment by fax shall also deliver an original executed counterpart, but the failure to do so shall not affect the validity, enforceability or binding effect of this Amendment.

 

5.3           Severability.  In case any provision in or obligation under this Amendment shall be invalid, illegal or unenforceable in any jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other jurisdiction, shall not in any way be affected or impaired thereby.

 

5.4           Loan Document.  This Amendment shall constitute a Loan Document.

 

5.5           GOVERNING LAW.  THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL, IN ALL RESPECTS, INCLUDING MATTERS OF CONSTRUCTION, VALIDITY AND PERFORMANCE, BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE AND PERFORMED IN THAT STATE AND ANY APPLICABLE LAWS OF THE UNITED STATES OF AMERICA.

 

[Signature Pages Follow]

 

  

-5-

  

 

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

 

	 	
BORROWERS:

INTERNATIONAL TEXTILE GROUP, INC.

BURLINGTON INDUSTRIES LLC

CONE JACQUARDS LLC

CONE DENIM LLC

CARLISLE FINISHING LLC

SAFETY COMPONENTS FABRIC

   TECHNOLOGIES, INC.

By: /s/ Craig J. Hart                                     

Name: Craig J. Hart

Title: Vice President and Treasurer

NARRICOT INDUSTRIES LLC

By: International Textile Group, Inc., its sole member

By: /s/ Craig J. Hart                                     

Name: Craig J. Hart

Title: Vice President and Treasurer

 

 

[Signature Page to Amendment No. 9 to Amended and Restated Credit Agreement]

  

  

  

 

	 	

OTHER CREDIT PARTIES:

 

APPAREL FABRICS PROPERTIES, INC.

BURLINGTON INDUSTRIES V, LLC

CONE ADMINISTRATIVE AND SALES LLC

CONE INTERNATIONAL HOLDINGS II, INC.

INTERNATIONAL TEXTILE GROUP ACQUISITION

   GROUP LLC

BURLINGTON WORLDWIDE INC.

CONE DENIM WHITE OAK LLC

CONE INTERNATIONAL HOLDINGS, INC.

CONE ACQUISITION LLC

WLR CONE MILLS IP, INC.

By: /s/ Craig J. Hart                                     

Name: Craig J. Hart

Title: Vice President and Treasurer

 

 

VALENTEC WELLS, LLC

By: International Textile Group, Inc., its sole member

By: /s/ Craig J. Hart                                     

Name: Craig J. Hart

Title: Vice President and Treasurer

 

 

 

[Signature Page to Amendment No. 9 to Amended and Restated Credit Agreement]

  

  

  

 

	 	

AGENT AND LENDERS:

 

GENERAL ELECTRIC CAPITAL CORPORATION,

as the Agent and a Lender

 

By: /s/ Philip Carfora                                                         

Name: Philip Carfora

Title:  Its Duly Authorized Signatory

 

 

 

[Signature Page to Amendment No. 9 to Amended and Restated Credit Agreement]

  

  

  

 

	 	

TD BANK, N.A., as a Lender

By: /s/ Jang Kim                             

Name: Jang Kim

Title: Vice President

 

 

 

[Signature Page to Amendment No. 9 to Amended and Restated Credit Agreement]

  

  

  

 

	 	

BANK OF AMERICA, N.A., as a Lender

By: /s/ John Yankauskas                             

Name: John Yankauskas

Title: Sr. Vice President

[Signature Page to Amendment No. 9 to Amended and Restated Credit Agreement]ex10-3.htm

Exhibit 10.30

ENGLISH TRANSLATION - EXECUTED DOCUMENT IS IN SPANISH

 

THIRD AMENDMENT TO FACTORING AGREEMENT WITH RECOURSE AND DELEGATED COLLECTION ENTERED INTO BY AND AMONG BANCO NACIONAL DE MÉXICO, S.A., MEMBER OF GRUPO FINANCIERO BANAMEX, AS “BANK LENDER,” REPRESENTED BY MESSRS. ALFONSO GARCÍA GARCÍA AND VÍCTOR MANUEL GALVÁN VIQUEZ, HEREINAFTER REFERRED TO AS “BANAMEX,” PARTY OF THE FIRST PART; PARRAS CONE DE MEXICO, S.A. DE C.V., HEREINAFTER THE "BORROWER," PARTY OF THE SECOND PART; PARRAS CONE DE MÉXICO, S.A. DE C.V., AS “GUARANTOR OF THE DEBTOR’S OBLIGATIONS," PARTY OF THE THIRD PART; BURLINGTON MORELOS, S.A. DE C.V., MANUFACTURAS PARRAS CONE, S.A. DE C.V., BURLINGTON YECAPIXTLA, S.A. DE C.V., SERVICIOS BURLMEX, S.A. DE C.V., CONE DENIM YECAPIXTLA, S.A. DE C.V., AND CASIMIRES BURLMEX, S.A. DE C.V., HEREINAFTER, JOINTLY OR SEPARATELY, THE “GUARANTOR,” PARTY OF THE FOURTH PART; AND MESSRS. JUAN ELADIO BAÑUELOS HERNÁNDEZ AND JOSÉ MANUEL GONZÁLEZ LAGUNAS, HEREINAFTER THE "AGENT AND DEPOSITARY,” PARTY OF THE FIFTH PART, IN ACCORDANCE WITH THE FOLLOWING RECITALS AND CLAUSES:

R E C I T A L S

THE PARTIES STATE THAT:

ONE. On March 23, 2011, BANCO NACIONAL DE MÉXICO, S.A., member of Grupo Financiero Banamex, hereinafter referred to as the “Bank Lender,” and PARRAS CONE DE MÉXICO, S.A. DE C.V., hereinafter referred to as the “Borrower,” entered into a Factoring Agreement with Recourse and Delegated Collection (as amended, supplemented, restated, or changed from time to time, hereinafter, the “Original Agreement”), with the appearance of BURLINGTON MORELOS, S.A. DE C.V.; MANUFACTURAS PARRAS CONE, S.A. DE C.V.; BURLINGTON YECAPIXTLA, S.A. DE C.V.; SERVICIOS BURLMEX, S.A. DE C.V.; CONE DENIM YECAPIXTLA, S.A. DE C.V.; and CASIMIRES BURLMEX, S.A. DE C.V., as “Guarantor,” and Messrs. JUAN ELADIO BAÑUELOS HERNÁNDEZ and JOSÉ MANUEL GONZÁLEZ LAGUNAS, on their own behalf and as “Agent and Depositary.” Pursuant to such agreement, the Borrower was able to discount diverse Accounts Receivable, which together had a net value of no greater than USD$14,750,000.00 (Fourteen million seven hundred fifty thousand dollars 00/100, legal tender of the United States of America).

TWO. On September 30, 2011, the First Amendment was executed to increase the Net Amount of the diverse Accounts Receivable, which together could be discounted so that such Net Value would be no greater than USD$20,000,000.00 (Twenty million dollars 00/100, legal tender of the United States of America), which was agreed upon in Clause 2, titled “Original Agreement Line” (Apertura de la Línea del Contrato Original), entered into by BANCO NACIONAL DE MÉXICO, S.A., member of Grupo Financiero Banamex, referred to as the “Bank Lender,” and PARRAS CONE DE MÉXICO, S.A. DE C.V., referred to as the “Borrower,” with the appearance of BURLINGTON MORELOS, S.A. DE C.V.; MANUFACTURAS PARRAS CONE, S.A. DE C.V.; BURLINGTON YECAPIXTLA, S.A. DE C.V.; SERVICIOS BURLMEX, S.A. DE C.V.; CONE DENIM YECAPIXTLA, S.A. DE C.V.; and CASIMIRES BURLMEX, S.A. DE C.V., as “Guarantor,” and Messrs. JUAN ELADIO BAÑUELOS HERNÁNDEZ and JOSÉ MANUEL GONZÁLEZ LAGUNAS, on their own behalf and as “Agent and Depositary.”

  

1

  

 

THREE. On March 2, 2012, the Second Amendment was executed to extend the drawdown period indicated in Clause 3, titled “Drawdown” (Disposición de la Línea), and the "Term" (Plazo de Vigencia) in Clause 4 of the Original Agreement, entered into by BANCO NACIONAL DE MÉXICO, S.A., member of Grupo Financiero Banamex, referred to as the “Bank Lender,” and PARRAS CONE DE MÉXICO, S.A. DE C.V., referred to as the “Borrower,” with the appearance of BURLINGTON MORELOS, S.A. DE C.V.; MANUFACTURAS PARRAS CONE, S.A. DE C.V.; BURLINGTON YECAPIXTLA, S.A. DE C.V.; SERVICIOS BURLMEX, S.A. DE C.V.; CONE DENIM YECAPIXTLA, S.A. DE C.V.; and CASIMIRES BURLMEX, S.A. DE C.V., as “Guarantor,” and Messrs. JUAN ELADIO BAÑUELOS HERNÁNDEZ and JOSÉ MANUEL GONZÁLEZ LAGUNAS, on their own behalf and as “Agent and Depositary.”

FOUR. The parties state that they agree, as it is in their interest, to execute a third amendment to the Original Agreement indicated in Background I of this instrument, exclusively with regard to:

A). Extending the drawdown date for the line agreed upon in Clause 3, which is titled LINE DRAWDOWN; extending the Term of the Agreement established in Clause 4, which is titled TERM, both of these from the Original Agreement; and adding an affirmative covenant to the special obligations contained in Clause 16, which is titled SPECIAL OBLIGATIONS.

Pursuant to the foregoing, the parties grant the following:

CLAUSES

ONE. BANK LENDER, BORROWER, GUARANTOR, AGENT, and DEPOSITARY agree to amend the Original Agreement indicated in Background I of this instrument, exclusively with regard to:

SOLE. Extending the drawdown date for the line that was agreed upon in Clause 3, titled LINE DRAWDOWN; extending the Term of the Agreement established in Clause 4, which is titled TERM; and adding an affirmative covenant that shall enter into force on the date on which this Amendment is executed to the special obligations contained in Clause 16, which is titled SPECIAL OBLIGATIONS, so that they read as follows:

“THREE. LINE DRAWDOWN. The BORROWER may make Discounts under the line opened by means of this Agreement within a period that shall not extend beyond March 7, 2014.

BANAMEX agrees that each time a previously-transferred Account Receivable is fully paid, and provided it is not due and payable, the BORROWER may transfer new Accounts Receivable in an amount that, added to those already discounted pursuant to this Agreement and that are pending payment, does not exceed the full amount of the discount line indicated in the "Line” clause.

  

2

  

 

BANAMEX shall deposit the amounts owed to the BORROWER to check account number 5976905701 (in dollars), which the BORROWER has at branch number MAIN BRANCH, Banco Banamex USA, ABA: 122 233 645, SWIFT: CALCUS6LXXX, located at: 2029 Century Park E. 42nd Floor, Los Angeles, CA 90067.

FOUR. TERM. This Agreement shall expire on March 7, 2014; however, a party may terminate it in advance at any time by notifying the other party in writing at least 30 (thirty) Business Days in advance of the date on which it wishes that it be terminated. This, notwithstanding the fact that this Agreement shall continue in full force and effect until the full settlement of the transactions carried out before such termination.

SIXTEEN. SPECIAL OBLIGATIONS. Throughout the entire term of this Agreement, the BORROWER must:

a) ...

t) At all times maintain a liquidity ratio of no less than 1.2 (one point two), with the understanding that "Liquidity Ratio" shall mean, for each quarter of each fiscal year, the result of dividing (i) current assets by (ii) current liabilities at the close of the accounting period. The foregoing, with the understanding that all assets and liabilities that must be accounted for as current in accordance with US GAAP must be included. The financial information that the BORROWER must deliver to BANAMEX must be consolidated for the companies that are group members in Mexico, in dollars, and in accordance with US GAAP. Calculations of accounting ratios shall be prepared based on the above, with the understanding that the calculation prepared at the close of any period not falling on the close of the fiscal year shall be prepared based on the financial statements certified by the chief financial officer or, as the case may be, by the chief executive officer of the BORROWER and of subsidiaries or affiliated companies, and calculations prepared at the close of any fiscal year shall be prepared based on audited financial statements.”

TWO. For all relevant legal purposes, the parties agree that the Original Agreement indicated in Background I of this Amendment shall continue in force with respect to all of its unamended parts, with all of the same legal force and effect it had when executed and with the understanding that the amendment subject matter of this Amendment does not constitute any novation.

THREE. JURISDICTION. For all matters related to the interpretation and performance of the obligations of this Amendment, the parties submit themselves to the jurisdiction of the courts of Mexico City or the City of Cuernavaca, Morelos, at the claimant’s discretion, waiving any other jurisdiction applicable to them at the present or in the future.

  

3

  

 

FOUR. ELECTED DOMICILES. For all judicial and extrajudicial purposes related to this Amendment, THE PARTIES indicate the same domiciles as those indicated in the Original Agreement.

This Amendment to the Factoring Agreement with Recourse and Delegated Collection is executed in the City of Cuernavaca, Morelos on March 4, 2013.

BANAMEX Banco Nacional de México, S.A., Member of Grupo Financiero Banamex

BANAMEX

Banco Nacional de México, S.A.

Member of Grupo Financiero Banamex

	
/s/ Alfonso García García

Represented by:

Alfonso García García

	
/s/ Víctor Manuel Galván Víquez

Represented by:

Víctor Manuel Galván Víquez

	
Domicile: Motolinia No. 1, Col. Centro, C.P. 62000, Cuernavaca, Morelos

 

 

	
BORROWER

	
GUARANTOR OF THE DEBTOR'S OBLIGATIONS

	
Parras Cone de México, S.A. de C.V.

/s/ José Manuel González Lagunas

Represented by:

José Manuel González Lagunas

	
Parras Cone de México, S.A. de C.V.

/s/ José Manuel González Lagunas

Represented by:

José Manuel González Lagunas

	
Domicile: Carretera Parras Paila Km. 3.5, Col. Centro, C.P. 27980, Parras, Coahuila

 

 

	
GUARANTOR

	
Burlington Morelos, S.A. de C.V.

/s/ José Manuel González Lagunas

Represented by:

José Manuel González Lagunas

	
Manufacturas Parras Cone, S.A. de C.V.

/s/ José Manuel González Lagunas

Represented by:

José Manuel González Lagunas

	
Domicile: Km. 2.5 Yecapixtla Agua Hedionda S/N, C.P. 62820, Yecapixtla, Morelos

	
Domicile: Carretera Parras Paila Km. 3.5, Col. Centro, C.P. 27980, Parras, Coahuila

  

4

  

	
GUARANTOR

	
Burlington Yecapixtla, S.A. de C.V.

/s/ José Manuel González Lagunas

Represented by:

José Manuel González Lagunas

	
Servicios Burlmex, S.A. de C.V.

/s/ José Manuel González Lagunas

Represented by:

José Manuel González Lagunas

	
Domicile: Km. 2.5 Yecapixtla Agua Hedionda S/N, C.P. 62820, Yecapixtla, Morelos

	
Domicile: Km. 2.5 Yecapixtla Agua Hedionda S/N, C.P. 62820, Yecapixtla, Morelos

	
GUARANTOR

	
Cone Denim Yecapixtla, S.A. de C.V.

/s/ José Manuel González Lagunas

Represented by:

José Manuel González Lagunas

	
Casimires Burlmex, S.A. de C.V.

/s/ José Manuel González Lagunas

Represented by:

José Manuel González Lagunas

	
Domicile: Km. 2.5 Yecapixtla Agua Hedionda S/N, C.P. 62820, Yecapixtla, Morelos

	
Domicile: Km. 2.5 Yecapixtla Agua Hedionda S/N, C.P. 62820, Yecapixtla, Morelos

	
DEPOSITARY

	
AGENT

	
/s/ Juan Eladio Bañuelos Hernández

	
/s/ Juan Eladio Bañuelos Hernández

	
Juan Eladio Bañuelos Hernández

	
Juan Eladio Bañuelos Hernández

	
On his own behalf

	
On his own behalf

	  	  
	
/s/ José Manuel González Lagunas

José Manuel González Lagunas

	
/s/ José Manuel González Lagunas

José Manuel González Lagunas

	
On his own behalf

	
On his own behalf

	
 

Domicile: Km. 2.5 Yecapixtla Agua Hedionda S/N, C.P. 62820, Yecapixtla, Morelos

  

5

  

 

I, Mr. HUGO MANUEL SALGADO BAHENA, head notary of Notary Public No. 11 of the First Notarial District of the State of Morelos, whose seat is located in this City,

ATTEST:

That before me appeared Messrs. ALFONSO GARCÍA GARCÍA and VÍCTOR MANUEL GALVÁN VIQUEZ, as attorneys-in-fact of BANCO NACIONAL DE MÉXICO, SOCIEDAD ANÓNIMA, MEMBER OF GRUPO FINANCIERO BANAMEX, as BANK LENDER, and Messrs. JUAN ELADIO BAÑUELOS HERNÁNDEZ and JOSÉ MANUEL GONZÁLEZ LAGUNAS, as Depositaries of the documents derived from the Accounts Receivable, as well as Agents of BANCO NACIONAL DE MÉXICO, SOCIEDAD ANÓNIMA, MEMBER OF GRUPO FINANCIERO BANAMEX, and the latter of the aforementioned as legal representative of PARRAS CONE DE MÉXICO, SOCIEDAD ANÓNIMA DE CAPITAL VARIABLE, as BORROWER; BURLINGTON MORELOS, SOCIEDAD ANÓNIMA DE CAPITAL VARIABLE; MANUFACTURAS PARRAS CONE, SOCIEDAD ANÓNIMA DE CAPITAL VARIABLE; BURLINGTON YECAPIXTLA, SOCIEDAD ANÓNIMA DE CAPITAL VARIABLE; SERVICIOS BURLMEX, SOCIEDAD ANÓNIMA DE CAPITAL VARIABLE; CONE DENIM YECAPIXTLA, SOCIEDAD ANÓNIMA DE CAPITAL VARIABLE; and CASIMIRES BURLMEX, SOCIEDAD ANÓNIMA DE CAPITAL VARIABLE, as GUARANTOR. This personality was duly evidenced. They stated to me that they ARE RATIFYING all of the contents of this document and ARE ACKNOWLEDGING as theirs the signatures they are providing, respectively, again signing as evidence. Act number 526, volume 6, page 179, dated today, in which they record their personal information and form of identification, is recorded in the notarial record book under my responsibility. I ATTEST. Cuernavaca, Morelos on the 6th day of March, 2013.

MR. HUGO MANUEL SALGADO BAHENA

 

 

 

6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00215-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00215-of-00352.parquet"}]]