SEC Contract Filing

Filing Date: 2020-02-20

Document Content:
<DOCUMENT>
<TYPE>EX-10.14
<SEQUENCE>4
<FILENAME>exhibit10144q2019.htm
<DESCRIPTION>EXHIBIT 10.14 4Q2019
<TEXT>
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<div><a name="sFB15B66AFA83FC0A7E33603C13EE5893"></a></div><div><div style="line-height:120%;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-style:italic;">EXECUTION VERSION</font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">THIRD AMENDMENT TO SECOND AMENDED AND RESTATED REVOLVING CREDIT AND TERM LOAN AGREEMENT</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">THIS THIRD AMENDMENT TO SECOND AMENDED AND RESTATED REVOLVING CREDIT AND TERM LOAN AGREEMENT dated February 19, 2020 (this &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Amendment</font><font style="font-family:inherit;font-size:11pt;">&#8221;) is entered into among Aaron&#8217;s, Inc., a Georgia corporation (the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Borrower</font><font style="font-family:inherit;font-size:11pt;">&#8221;), the Guarantors, the Lenders party hereto and Truist Bank (successor by merger to SunTrust Bank), as Administrative Agent. </font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">RECITALS</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">WHEREAS, the Borrower, the Lenders and Truist Bank (successor by merger to SunTrust Bank), as Administrative Agent, Swingline Lender and Issuing Bank, entered into that certain Second Amended and Restated Revolving Credit and Term Loan Agreement dated as of September 18, 2017 (as amended by that certain First Amendment to Second Amended and Restated Revolving Credit and Term Loan Agreement dated as of October 23, 2018, that certain Second Amendment to Second Amended and Restated Revolving Credit and Term Loan Agreement dated as of January 21, 2020 and as further amended, restated, supplemented or otherwise modified from time to time, the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Credit Agreement</font><font style="font-family:inherit;font-size:11pt;">&#8221;);</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">WHEREAS, the Borrower has requested certain amendments to the Credit Agreement; and</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">WHEREAS, the Lenders (by act of the Required Lenders) have agreed to provide such requested amendments, subject to the terms and conditions of this Amendment </font><font style="font-family:inherit;font-size:11pt;">(the Credit Agreement as amended by this Amendment and as further amended, modified, supplement or extended from time to time, the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-style:italic;font-weight:bold;">Amended Credit Agreement</font><font style="font-family:inherit;font-size:11pt;">&#8221;)</font><font style="font-family:inherit;font-size:11pt;">;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">NOW, THEREFORE, in consideration of the premises and the mutual covenants contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;background-color:#ffffff;">1.&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;background-color:#ffffff;text-decoration:underline;">Introductory Paragraph and Recitals</font><font style="font-family:inherit;font-size:11pt;background-color:#ffffff;">. The above introductory paragraph and recitals of this Amendment are incorporated herein by reference as if fully set forth herein. </font><font style="font-family:inherit;font-size:11pt;background-color:#ffffff;">All capitalized terms used herein and not otherwise defined herein shall have the meanings given to such terms in the Amended Credit Agreement.</font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;">2.&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:11pt;text-decoration:underline;">Amendment to Credit Agreement</font><font style="font-family:inherit;font-size:11pt;">. </font><font style="font-family:inherit;font-size:11pt;">The defined term &#8220;Consolidated EBITDA&#8221; in Section 1.1 of the Credit Agreement is hereby amended by (i) deleting the text &#8220;and&#8221; immediately prior to clause (O) therein, (ii) inserting the text </font><font style="font-family:inherit;font-size:11pt;">&#8220;, (P) for any period ending on or prior to December 31, 2020, any charges, costs and expenses incurred as a result of