Document:

EX-10.16

 Exhibit 10.16 
 KELLWOOD HOLDING CORP. 

THIRD AMENDMENT TO BANK OF MONTREAL

 LOAN AUTHORIZATION AGREEMENT 

Bank of Montreal 
 Chicago, Illinois 

Ladies and Gentlemen: 

Reference is hereby made to that certain Bank of Montreal Loan Authorization Agreement dated as of February 13, 2008 (the Bank of
Montreal Loan Authorization Agreement as the same may be amended from time to time, being referred to herein as the “Loan Agreement”), between the undersigned, Kellwood Holding Corp. (formerly known as Cardinal Integrated, LLC), a
Delaware corporation (the “Borrower”), and Bank of Montreal (the “Bank”). All capitalized terms used herein without definition shall have the same meanings herein as such terms have in the Loan Agreement.

 The Borrower has requested that the Bank (i) increase the amount of Maximum Credit and extend the Maturity Date under
the Loan Agreement and (ii) make certain amendments to the Loan Agreement to reflect this increase and extension. The Bank is willing to do so under the terms and conditions set forth in this agreement (herein, the
“Amendment”). 
  

	SECTION 1.	AMENDMENTS. 

Subject to the satisfaction of all of the conditions precedent set forth in Section 3 below, the Loan Agreement shall be and hereby
is amended as follows: 
 1.1. The amount “$67,785,197” shall be deleted in each place it appears in the Loan
Agreement and shall be replaced with the amount “$72,000,000”. 
 1.2. The date “February 6,
2009” shall be deleted in each place it appears in the Loan Agreement and shall be replaced with the date “August 6, 2009”. 
 1.3. Exhibit A to the Loan Agreement shall be amended and restated in its entirety in the form of Exhibit A attached hereto. 

 

	SECTION 2.	NEW NOTE. 

 In replacement for that certain Promissory Note payable to the order of Bank of Montreal dated as of August 13, 2008 in the principal amount of $67,785,197.00 (the “Previous Note”),
the Borrower shall execute and deliver to the Bank a new demand note in the amount of $72,000,000.00, dated as of the date of its issuance and otherwise in the form of Exhibit A attached hereto (the “New Note”) which shall
substitute for the Bank’s Previous Note and shall evidence the loans outstanding to the Bank. All references in the Loan Agreement to the Note shall be deemed references to the New Note. 

	SECTION 3.	CONDITIONS PRECEDENT. 

 3.1. The Borrower and the Bank shall have executed and delivered this Amendment and the Borrower shall have executed and delivered to the Bank the New Note. 

3.2. The Bank shall have received copies (executed or certified, as may be appropriate) of all legal documents or proceedings taken in
connection with the execution and delivery of this Amendment to the extent the Bank or its counsel may reasonably request. 

3.3. Legal matters incident to the execution and delivery of this Amendment shall be reasonably satisfactory to the Bank and its counsel.

 3.4. Sun Capital Partners V, L.P. shall have executed and delivered to the Bank its consent to this Amendment in the form set
forth below and the Third Amendment to Guaranty. 
  

	SECTION 4.	REPRESENTATIONS. 

In order to induce the Bank to execute and deliver this Amendment, the Borrower hereby represents to the Bank that as of the date hereof
the representations and warranties set forth in the Loan Agreement are and shall be and remain true and correct in all material respects except to the extent such representations and warranties relate to a particular date, in which case they are
true and correct in all material respects as of such date, and the Borrower is in compliance with the terms and conditions of the Loan Agreement. 
  

	SECTION 5.	MISCELLANEOUS. 

5.1. Except as specifically amended herein, the Loan Agreement shall continue in full force and effect in accordance with its original
terms. Reference to this specific Amendment need not be made in the Loan Agreement, the Note, or any other instrument or document executed in connection therewith, or in any certificate, letter or communication issued or made pursuant to or with
respect to the Loan Agreement, any reference in any of such items to the Loan Agreement being sufficient to refer to the Loan Agreement as amended hereby. 
 5.2. This Amendment may be executed in any number of counterparts, and by the different parties on different counterpart signature pages, all of which taken together shall constitute one and the same
agreement. Delivery of a counterpart by facsimile or electronic transmission shall constitute delivery of an original counterpart hereunder. Any of the parties hereto may execute this Amendment by signing any such counterpart and each of such
counterparts shall for all purposes be deemed to be an original. This Amendment shall be governed by the internal laws of the State of Illinois. 
 [SIGNATURE PAGE TO FOLLOW] 

  
 -2-

 This Third Amendment to Bank of Montreal Loan Authorization Agreement is entered into as of
this 6th day of February, 2009. 
  

			
	KELLWOOD HOLDING CORP.
		
	By:	 	

		 	  

 
			
	Printed Name:	 	 Michael W. Kramer

			
	Its:	 	 President and Chief Executive Officer

 Accepted and agreed to this 6th day of February, 2009. 

 

			
	BANK OF MONTREAL
		
	By:	 	

		 	  

	Name:	 	 Craig S. Munro

	Its:	 	 Managing Director

 [Signature Page to Third Amendment to Loan Authorization Agreement]EX-10.17

 Exhibit 10.17 
 ASSIGNMENT AND ASSUMPTION 
 April 9, 2009 (the
“Effective Date”) 
 This Assignment and Assumption (the “Assignment and Assumption”) is
dated as of the Effective Date and is entered into by and between the Assignor identified in item 1 below (the “Assignor”) and each Assignee is identified in item 2 below (referred to individually herein as an
“Assignee” and collectively, the “Assignees”) with their applicable pro rata percentage of the Assigned Interests (defined below) being assigned to them by the Assignor (“Applicable Percentage”).
Capitalized terms used but not defined herein shall have the meanings given to them in the Loan Authorization Agreement identified below (as amended, the “Credit Agreement”), receipt of a copy of which is hereby acknowledged by each
Assignee. The Standard Terms and Conditions set forth in Annex 1 attached hereto are hereby agreed to and incorporated herein by reference and made a part of this Assignment and Assumption as if set forth herein in full. 

For an agreed consideration, the Assignor hereby irrevocably sells and assigns to each Assignee its Applicable Percentage, and each
Assignee hereby irrevocably purchases and assumes its Applicable Percentage from the Assignor, subject to and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the Effective Date inserted by the Bank as
contemplated below (i) all of the Assignor’s rights and obligations in its capacity as the Bank under the Credit Agreement and any other documents or instruments delivered pursuant thereto to the extent related to the amount and percentage
interest identified below of all of such outstanding rights and obligations of the Assignor under the respective facilities identified below (including without limitation any letters of credit, guarantees, and swingline loans included in such
facilities) and (ii) to the extent permitted to be assigned under applicable law, all claims, suits, causes of action and any other right of the Assignor (in its capacity as the Bank) against any Person, whether known or unknown, arising under
or in connection with the Credit Agreement, any other documents or instruments delivered pursuant thereto or the loan transactions governed thereby or in any way based on or related to any of the foregoing, including, but not limited to, contract
claims, tort claims, malpractice claims, statutory claims and all other claims at law or in equity related to the rights and obligations sold and assigned pursuant to clause (i) above (the rights and obligations sold and assigned by the
Assignor to each Assignee pursuant to clauses (i) and (ii) above being referred to herein collectively as the “Assigned Interest”). Each such sale and assignment is without recourse to the Assignor and, except as expressly
provided in this Assignment and Assumption, without representation or warranty by the Assignor. 
  

					
	1.	 	Assignor:	  	Bank of Montreal
			
	2.	 	Assignees:	  	SCSF Kellwood Finance, LLC (25%) and Sun Kellwood Finance, LLC (75%)
			
	3.	 	Borrower:	  	Kellwood Holding Corp., a Delaware corporation (formerly known as Cardinal Integrated, LLC)

					
	4.	 	Credit Agreement:	  	Bank of Montreal Loan Authorization Agreement dated February 13, 2008 between the Borrower and Bank of Montreal (as the same has been and may further be amended, restated,
supplemented or otherwise modified from time to time)
	5.	 	Assigned Interest:	  	
			
		 	See Exhibit A.	  	

 [Remainder of Page Intentionally Left Blank; Signature Page Follows] 

  
 2 

 Dates as of the date first written above. 
 The terms set forth in this Assignment and Assumption are hereby agreed to: 
  

			
	ASSIGNOR:
	
	BANK OF MONTREAL
		
	By:	 	/s/ Brett M Sanchez
	Name: Brett M Sanchez
	Title:   Vice President

  

			
	ASSIGNEES:
	
	SCSF KELLWOOD FINANCE, LLC
		
	By:	 	/s/ Michael J. McConvery
	Name: Michael J. McConvery
	Title:   Vice President

  

			
	SUN KELLWOOD FINANCE, LLC
		
	By:	 	/s/ Michael J. McConvery
	Name: Michael J. McConvery
	Title:   Vice President

 The terms set forth in this Assignment and Assumption are hereby acknowledged by: 

 

			
	KELLWOOD HOLDING CORP.
		
	By:	 	/s/ Michael J. McConvery
	Name: Michael J. McConvery
	Title:   Vice President

 ANNEX 1 
 LOAN AUTHORIZATION AGREEMENT 
 STANDARD TERMS AND CONDITIONS FOR 

ASSIGNMENT AND ASSUMPTION 
 1.
Representations and Warranties. 
 1.1 Assignor. The Assignor (a) represents and warrants that (i) it is the legal and
beneficial owner of the Assigned Interest, (ii) the Assigned Interest is free and clear of any lien, encumbrance or other adverse claim and (iii) it has full power and authority, and has taken all action necessary, to execute and deliver
this Assignment and Assumption and to consummate the transactions contemplated hereby; and (b) assumes no responsibility with respect to (i) any statements, warranties or representations made in or in connection with the Credit Agreement
or any other Loan Document, (ii) the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Loan Documents or any collateral thereunder, (iii) the financial condition of the Borrower, any of its
Subsidiaries or Affiliates or any other Person obligated in respect of any Loan Document or (iv) the performance or observance by the Borrower, any of its Subsidiaries or Affiliates or any other Person of any of their respective obligations
under any Loan Document. 
 1.2. Assignee. Each Assignee (a) represents and warrants that (i) it has full power and authority,
and has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and to become the Bank under the Credit Agreement, (ii) from and after the Effective Date, it shall
be bound by the provisions of the Credit Agreement as the Bank thereunder and, to the extent of the Assigned Interest, shall have the obligations of the Bank thereunder, (iii) it is sophisticated with respect to decisions to acquire assets of
the type represented by the Assigned Interest and either it, or the person exercising discretion in making its decision to acquire the Assigned Interest, is experienced in acquiring assets of such type, (iv) it has received a copy of the Credit
Agreement, and has received or has been accorded the opportunity to receive copies of the most recent financial statements delivered pursuant to Section 8 thereof, as applicable, and such other documents and information as it deems appropriate
to make its own credit analysis and decision to enter into this Assignment and Assumption and to purchase the Assigned Interest, and (v) it has, independently and without reliance upon the Bank and based on such documents and information as it
has deemed appropriate, made its own credit analysis and decision to enter into this Assignment and Assumption and to purchase the Assigned Interest; and (b) agrees that (i) it will, independently and without reliance on the Bank, and
based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Loan Documents, and (ii) it will perform in accordance with their terms all of
the obligations which by the terms of the Loan Documents are required to be performed by it as the Bank. 

 2. Payments. From and after the Effective Date, (i) each Assignee shall make all payments in
respect of its Applicable Percentage of the Assigned Interest (including payments of principal, interest, fees and other amounts) to the Assignor for amounts which have accrued to but excluding the Effective Date and (ii) Assignor shall make
all payments in respect of the Assigned Interest (including payments of principal, interest, fees and other amounts) to each Assignee with respect to its Applicable Percentage for amounts which have accrued from and after the Effective Date.

 3. Assignees’ Rights. Assignor agrees that each Assignee and its affiliates (including Guarantor) shall have all rights of
exoneration, contribution, reimbursement, recourse or subrogation as if the indebtedness evidenced by the Note has been paid in full, notwithstanding the fact that payment in full has not actually occurred but rather has been effectuated by an
assignment of interests therein and that the provisions of Section 5 of the Guaranty shall be of no further force or effect. 
 4.
Release. Each Assignee agrees that Assignor shall be released of all of its obligations and liabilities under the Loan Documents. 
 5.
General Provisions. This Assignment and Assumption shall be binding upon, and inure to the benefit of, the parties hereto and their respective successors and assigns. This Assignment and Assumption may be executed in any number of
counterparts, which together shall constitute one instrument. Delivery of an executed counterpart of a signature page of this Assignment and Assumption by telecopy shall be effective as delivery of a manually executed counterpart of this Assignment
and Assumption. This Assignment and Assumption shall be governed by, and construed in accordance with, the law of the State of Illinois. 

 EXHIBIT A 

 

																											
	 Facility
 Assigned
	  	Original Loan
Authorization Date	 	  	Principal Due as
of Effective Date	 	  	Interest Due as of
Effective Date	 	  	Fees Due as of
Effective Date	 	  	Amount of
Commitment/
Loans Assigned	 	  	% Assigned of
Commitment/Loans	 	 	CUSIP
Number
	 Loans
	  	 	February 13, 2008	  	  	$	68,768,082.36	  	  	$	717,116.50	  	  	$	4,691.31	  	  	$	72,000,000	  	  	 	100	% 	 	[______]

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