SEC Contract Filing

Filing Date: 2023-04-06

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>d455161dex101.htm
<DESCRIPTION>EX-10.1
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<TITLE>EX-10.1</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>EXECUTION VERSION </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SECOND AMENDMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">SECOND AMENDMENT (this &#147;<U>Second Amendment</U>&#148;), dated as of March 31, 2023, is entered into among The ODP
Corporation (the &#147;<U>Company</U>&#148;), ODP Investment, LLC (&#147;<U>ODPI</U>&#148;), Office Depot, LLC (as successor in interest to Office Depot, Inc.) (&#147;<U>ODLLC</U>&#148;) and Grand&nbsp;&amp; Toy Limited/Grand &amp; Toy
Limit&eacute;e (&#147;<U>Grand</U><U></U><U>&nbsp;&amp; Toy</U>&#148;, and collectively with the Company, ODPI and ODLLC, the &#147;<U>Borrowers</U>&#148;), as borrowers, the Lenders (as defined below) party hereto and JPMorgan Chase Bank, N.A., as
administrative agent (in such capacity, the &#147;<U>Administrative Agent</U>&#146;). </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>W I T N E S S E T H: </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">WHEREAS, the Borrowers, the other Loan Parties party thereto, the several banks and other institutions from time to time
parties thereto (the &#147;<U>Lenders</U>&#148;) and the Administrative Agent are party to the Third Amended and Restated Credit Agreement, dated as of April 17, 2020 (as amended by the First Amendment, dated as of May 20, 2022, and as further
amended, restated, amended and restated or otherwise modified or supplemented prior to the date hereof, the &#147;<U>Credit Agreement</U>&#148;, and as amended by this Second Amendment, the &#147;<U>Amended Credit Agreement</U>&#148;); </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">WHEREAS, certain loans, commitments and/or other extensions of credit (the &#147;<U>Loans</U>&#148;) under the Credit
Agreement incur or are permitted to incur interest, fees or other amounts based on the London Interbank Offered Rate as administered by the ICE Benchmark Administration (&#147;<U>LIBOR</U>&#148; and such Loans incurring interest, fees or other
amounts based on LIBOR, &#147;<U>LIBOR Rate Loans</U>&#148;) in accordance with the terms of the Credit Agreement; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">WHEREAS, the Administrative Agent has elected to trigger an Early Opt-In Election and, pursuant to Section&nbsp;2.14(b) of the
Credit Agreement, the Administrative Agent has determined that LIBOR should be replaced with the applicable Benchmark Replacement for all purposes under the Credit Agreement and any Loan Document and the parties to this Second Amendment hereby agree
that such changes shall become effective on the Second Amendment Effective Date (as defined below). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">NOW THEREFORE, in
consideration of the premises and mutual covenants contained herein, the undersigned hereby agree as follows: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">I.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Defined Terms</U>. Capitalized terms used but not otherwise defined
herein shall have the meanings assigned to them in the Amended Credit Agreement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">II.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Amendments to the Credit Agreement</U>. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman" ALIGN="justify">The Credit Agreement is hereby amended to delete the stricken text (indicated textually in the same manner as the following
example: <FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#ff0000"><STRIKE>stricken text</STRIKE></FONT><FONT STYLE="font-family:Times New Roman">) and to add the double-underlined text (indicated textually in the same manner as the
following example: </FONT><FONT STYLE="font-family:Times New Roman; font-size:10pt" COLOR="#0000ff"><U STYLE="border-bottom:1pt double; padding-bottom:1pt">double-underlined text</U></FONT><FONT STYLE="font-family:Times New Roman">) as set forth in
the pages attached as Exhibit A hereto; <U>provided </U>that, notwithstanding the foregoing, the parties hereto acknowledge and agree that (a)&nbsp;(i) any Eurocurrency Loans (as defined in the Credit Agreement) outstanding as of or immediately
prior to the Second Amendment Effective Date shall remain outstanding, bearing interest at the Adjusted LIBO Rate (as defined in the Credit Agreement) plus the Applicable Spread under the Credit Agreement, until the expiration of the Interest Period
(as defined in the Credit Agreement) applicable thereto and (ii)&nbsp;the related provisions of the Credit Agreement shall continue in effect solely with respect to such Eurocurrency Loans until such time for the limited purpose set forth in this
clause (a)&nbsp;and (b) no Loans may be continued as or converted to Eurocurrency Loans, and no new Eurocurrency Loans may be requested, after such time. </FONT></P>
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