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Exhibit 4.21
FOURTH AMENDMENT
FOURTH AMENDMENT (this "Amendment"), dated as of January 15, 1997,
among SERVICE MERCHANDISE COMPANY, INC. (the "Borrower"), the various lending
institutions party to the Credit Agreement referred to below (the "Banks"), and
THE CHASE MANHATTAN BANK (as successor to CHEMICAL BANK), as Administrative
Agent (in such capacity, the "Administrative Agent"). All capitalized terms
used herein and not otherwise defined shall have the respective meanings
provided such terms in the Credit Agreement referred to below.
WITNESSETH:
WHEREAS, the Borrower, the Banks and the Administrative Agent are
parties to a Credit Agreement, dated as of June 8, 1994 and amended by the
First Amendment thereto dated as of April 13, 1995, the Second Amendment
thereto dated May 23, 1996 and the Third Amendment thereto dated as of
September 16, 1996 (as so amended, the "Credit Agreement"); and
WHEREAS, the parties hereto wish to amend the Credit Agreement as
herein provided;
NOW, THEREFORE, it is agreed that as of the Fourth Amendment Effective
Date (as defined below):
1. Section 9.01 of the Credit Agreement is hereby amended by (a)
deleting clause (xvi) and inserting in lieu thereof the following new clause
(xvi) and (b) inserting the following new clause (xvii) at the end thereof:
"(xvi) Liens arising from UCC-1 securities filings and grants of
security interests covering receivables and related assets owned by the
Borrower and its Subsidiaries in connection with the Credit Card Program; and
(xvii) Liens arising from offsets, deposits or restricted assets
granted by any Credit Card Subsidiary in respect of the Credit Card Program."
2. Section 9.02 of the Credit Agreement is hereby amended by (a)
deleting the "and" at the end of clause (xiii), (b) deleting the period at the
end of clause (xiv) and inserting in lieu thereof"; "and (c) adding the
following new clause (xv) at the end thereof:
"(xv) The Credit Card Subsidiaries may purchase receivables and
related assets in connection with the Credit Card Program."
3. The definition of "Contingent Obligation" in Section 11.01 of
the Credit Agreement is hereby amended by adding the following proviso at the
end thereof:
"provided further, that the term Contingent Obligation shall not
include obligations of any Credit Card Subsidiary to the Credit Card Issuer
with respect to the Credit Card Program to the
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extent the amount of such Contingent Obligations is less than or equal to the
capitalization of the Credit Card Subsidiary"
4. Section 11 of the Credit Agreement is hereby amended by
inserting the following new definition in the appropriate alphabetical order:
"Credit Card Issuer" shall mean any bank or other financial
institution and its affiliates which issues credit cards and extends credit to
cardholders in connection with the Credit Card Program."
5. The definition of "Credit Card Subsidiaries" in Section 11.01
of the Credit Agreement is hereby amended by deleting said definition in its
entirety and substituting the following in lieu thereof:
"Credit Card Subsidiaries" shall mean any direct or indirect
Subsidiary of the Borrower, and any wholly-owned Subsidiaries of such
Subsidiary, created in connection with the Credit Card Program, so long as (i)
they engage in no business or transactions other than (x) the issuance of
credit cards, the extension of credit to cardholders pursuant thereto and all
other customary transactions incident thereto (including the sale or transfer
of receivables pursuant to asset backed financing transactions) and (y) the
entering into and performance of agreements with a Credit Card Issuer that
facilitate the Credit Card Issuer's doing business in connection with a Credit
Card Program and (ii) the liabilities of the Credit Card Subsidiaries are
without recourse to the Borrower and its Subsidiaries (other than the Credit
Card Subsidiaries); provided that the Borrower and its Subsidiaries may enter
into customary commitments and/or underwriting agreements on behalf of the
Credit Card Subsidiaries for the purpose of customary securities law
indemnifications."
6. In order to induce the undersigned Banks to enter into this
Amendment, the Borrower hereby represents and warrants that (x) no Default or
Event of Default exists on the Fourth Amendment Effective Date both before and
after giving effect to this Amendment and (y) all of the representations and
warranties contained in the Credit Agreement shall be true and correct in all
material respects as of the Fourth Amendment Effective Date both before and
after giving effect to this Amendment, with the same effect as though such
representations and warranties had been made on and as of the Fourth Amendment
Effective Date (it being understood that any representation or warranty made as
of a specified date shall be required to be true and correct in all material
respects only as of such specific date).
7. This Amendment is limited as specified and shall not
constitute a modification, acceptance or waiver of any other provision of the
Credit Agreement or any other Credit Document.
8. This Amendment may be executed in any number of counterparts
and by the different parties hereto on separate counterparts, each of which
counterparts when executed and delivered shall be an original, but all of which
shall together constitute one and the same instrument. A complete set of
counterparts shall be lodged with the Borrower and the Administrative Agent.
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9. THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES
HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE LAWS OF
THE STATE OF NEW YORK.
10. This Amendment shall become effective on the date (the "Fourth
Amendment Effective Date") when the Borrower and the Required Banks (i) shall
have signed a counterpart hereof (whether the same or different counterparts)
and (ii) shall have delivered (including by way of telecopier) the same to the
Administrative Agent at the Notice Office.
11. From and after the Fourth Amendment Effective Date all
references in the Credit Agreement and the other Credit Documents to the Credit
Agreement shall be deemed to be references to the Credit Agreement as modified
hereby.
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IN WITNESS WHEREOF, each of the parties hereto has caused a
counterpart of this Amendment to be duly executed and delivered as of the date
first above written.
Address:
7100 Service Merchandise Drive SERVICE MERCHANDISE COMPANY,
Xxxxxxxxx, XX 00000 INC.
Attn: Xxxxxx X. Xxxxxxx, Xx.
Telephone: (000) 000-0000
Telecopy: (000) 000-0000 By: /s/ Xxxxxx X. Xxxxxxx, Xx.
------------------------------
000 Xxxx Xxxxxx XXX XXXXX XXXXXXXXX BANK
9th Floor Individually, and as
Xxx Xxxx, XX 00000 Administrative Agent
Attn: Xxxxxxxxxxx X. Xxxxxxx
Telephone: (000) 000-0000 By: /s/
Telecopy: (000) 000-0000 ------------------------------
Title: Attorney-in-fact
With a copy to:
Chase Securities Inc.
00 Xxxxx XxXxxxx Xxxxxx
Xxxxx 0000
Xxxxxxx, XX 00000
Attn: Xxxx Xxxxx
Telephone: (000) 000-0000
Telecopy: (000) 000-0000
5
One Ravinia Drive ABN AMRO BANK N.V., ATLANTA
Suite 1200 AGENCY
Xxxxxxx, XX 00000-0000
Attn: Xxxxx Xxxxx By
-------------------------------
Title:
Telephone: (000) 000-0000 By
Telecopy: (000) 000-0000 -------------------------------
Title:
000 Xxxx Xxxxxx XXXX XXXXXXX XXXXXXXXXXX
Xxx Xxxx, XX 00000
Attn: Xxxxxx Xxxxxx
Telephone: (000) 000-0000 By /s/ Xxxxxx Xxxxxx
Telecopy: (000) 000-0000 -------------------------------
Title: Xxxxxx Xxxxxx
Vice President
000 Xxxxxxx Xxxxxx THE FIRST XXXXXXXX XXXX XX XXXXXX
Xxxxxx, XX 00000
Attn: Xxxxx Xxxxxxxx
Telephone: (000) 000-0000 By /s/ Xxxxx Xxxxxxxx
Telecopy: (000) 000-0000 -------------------------------
Title: Director
000 Xxxx Xxxxxx XXX XXXX XX XXXXXXXX
Xxx Xxxx, XX 00000
Attn: Xxx Peer
Telephone: (000) 000-0000 By /s/ Xxx Peer
Telecopy: (000) 000-0000 -------------------------------
Title: Director
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One Wall Street THE BANK XX XXX XXXX
00xx Xxxxx
Xxx Xxxx, XX 00000
Attn: Xxxx XxXxxxxx By /s/ Xxxxx X. XxXxxxxx
-------------------------------
Title: Vice President
Telephone: (000) 000-0000
Telecopy: (000) 000-0000
Structured Finance Department THE BANK OF TOKYO-MISUBISHI, LTD.
0000 Xxxxxx xx xxx Xxxxxxxx
Xxx Xxxx, XX 00000
Attn: Xxxx X. Xxxxxxx By /s/ Xxxx X. Xxxxxxx
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Telephone: (000) 000-0000 Title: Xxxx X. Xxxxxxx
Telecopy: (000) 000-0000 Vice President
Structured Finance Department THE BANK OF TOKYO-MISUBISHI
1251 Avenue of the Americas TRUST COMPANY
Xxx Xxxx, XX 00000
Attn: Xxxx X.Xxxxxxx By /s/ Xxxx X. Xxxxxxx
-------------------------------
Title: Xxxx X. Xxxxxxx
Vice President
000 0xx Xxxxxx XXXXXX XXXXXXX
Xxx Xxxx, XX 00000
Attn: Xxxx Xxxxxxxx
Telephone: (000) 000-0000 By /s/ Xxxx Xxxxxxxx
Telecopy: (000) 000-0000 -------------------------------
Xxxx Xxxxxxxx
Group Vice President
By /s/ Xxxxxxx Xxxxxxxxxx
-------------------------------
Xxxxxxx Xxxxxxxxxx
Assistant Vice President
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Two Paces West CANADIAN IMPERIAL BANK OF
0000 Xxxxx Xxxxx Xxxx XXXXXXXX
Xxxxxxx, XX 00000
Attn: Xxxxxxx X. Xxx
By /s/ Xxxxxxx Xxx
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Telephone: (000) 000-0000 Title: Authorized Signatory
Telecopy: (770) 319-4954
00 Xxxx Xxxxxx XXXXXXXX XXXX XX, XXX XXXX BRANCH
Xxx Xxxx, XX 00000
Attn: Xxxxxxx Xxxxxx
Telephone: (000) 000-0000
Telecopy: (000) 000-0000 By /s/ Xxxxxxx X. Xxxxxx
-------------------------------
Title: Xxxxxxx X. Xxxxxx
Vice President
By /s/ Xxxxxxxx Xxxxxxxxxxxxxx
-------------------------------
Title: Xxxxxxxx Xxxxxxxxxxxxxx
Assistant Treasurer
Marquis One Tower THE FUJI BANK, LTD.
Suite 2100
000 Xxxxxxxxx Xxxxxx Xxx., XX
Xxxxxxx, XX 00000-0000
Attn: Xxxxx Xxxxxxx By /s/
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Title: Vice President and
Manager
Telephone: (000) 000-0000
Telecopy: (000) 000-0000
8
Two World Trade Center THE HOKKAIDO TAKUSHOKU BANK,
99th Floor LTD.
Xxx Xxxx, XX 00000
Attn: Xxxxx X. Xxxxxxx
Telephone: (000) 000-0000 By: /s/
Telecopy: (000) 000-0000 ------------------------------
Title: Deputy General Manager
000 Xxxx Xxxxxx THE INDUSTRIAL BANK OF JAPAN,
Xxx Xxxx, XX 00000 LIMITED - NEW YORK BRANCH
Attn: Xxx Xxxxx
Telephone: (000) 000-0000 By /s/ Takuya Houjo
Telecopy: (000) 000-0000 -------------------------------
Title: Senior Vice President
000 Xxxxxxxxx Xxxxxx Xxx, XX LTCB TRUST COMPANY
Xxxxx 0000 Xxxxxxx, XX 00000
Attn: Xxxxxxx Xxxxxxx By /s/
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Title: Executive V. Pres.
Telephone: (000) 000-0000
Telecopy: (404) 658-9751
000 Xxxxxxxx XXXXXXX XXXX XXX
Xxx Xxxx, XX 00000
Attn: Xxxxx Xxxx
Telephone: (000) 000-0000 By
Telecopy: (000) 000-0000 -------------------------------
Title:
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000 Xxxx Xxxxxxxxx Xx. XXX XXXX, XXXXXXXX, INC.
Xxxxxxxxxx, Xxxxxxxx 00000
Attn: Xxxxx Xxxxxxxx
By:
------------------------------
Telephone: (000) 000-0000 Title:
Telecopy: (502) 581-2302
000 Xxxxxxx Xxxxxx THE MITSUBISHI TRUST AND BANKING
00xx Xxxxx XXXXXXXXXXX
Xxx Xxxx, XX 00000
Attn: Xxxxx XxXxxxx
Telephone: (000) 000-0000 By /s/
Telecopy: (000) 000-0000 -------------------------------
(000) 000-0000 Title: Senior Vice President
Xxx XxxxxxxXxxx Xxxxx X-0 XXXXXXXXXXX, X.X.
000 Xxxxx Xxxxxx
Xxxxxxxxx, XX 00000-0000
Attn: Xxxxxxxx Xxxxx
By
-------------------------------
Telephone: (000) 000-0000 Title:
Telecopy: (615) 749-4640
000 Xxxx Xxxxxx THE NIPPON CREDIT BANK, LTD.
00xx Xxxxx
Xxx Xxxx, XX 00000
Attn: Xxxxx Xxxx
By /s/ Xxxxx X. Xxxx
-------------------------------
Telephone: (000) 000-0000 Title: Assistant Vice President
Telecopy: (000) 000-0000
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Marquis Xxx Xxxxx XXX XXXXXX XXXX, XXXXXXX
Xxxxx 0000
000 Xxxxxxxxx Xxxxxx Xxx., X.X.
Xxxxxxx, XX 00000 By /s/
Attn: Xxxx Xxxxxxxxx -------------------------------
Title: Vice President and
Senior Manager
Telephone: (000) 000-0000
Telecopy: (000) 000-0000
Georgia Pacific Center THE SUMITOMO BANK, LIMITED
Suite 3210
000 Xxxxxxxxx Xxxxxx, X.X.
Xxxxxxx, XX 00000
Attn: Xxx Xxxxxx By /s/
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Title: General Manager
Telephone: (000) 000-0000
Telecopy: (404) 521-1187
00 Xxxx 00xx Xxxxxx XXX XXXXX XXXX, LTD. XXX XXXX
Xxx Xxxx, XX 00000 BRANCH
Attn: Xxxx Xxxxxxxxx
Telephone: (000) 000-0000 By
Telecopy: (000) 000-0000 -------------------------------
Title:
One Detroit Center COMMERCIA BANK
000 Xxxxxxxx Xxxxxx, XX 0000
0xx Xxxxx
Xxxxxxx, XX 00000
Attn: Xxxxxxxx X. Xxxxxxxx By /s/ Xxxx X. Xxxxx
-------------------------------
Title: Xxxx X. Xxxxx, Vice
President
Telephone: (000) 000-0000
Telecopy: (313) 222-3330
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000 0xx Xxxxxx XXXX XX XXXXXXX, CAYMAN ISLAND
Xxx Xxxx, XX 00000 BRANCH
Attn: Xxxx Xxxxxx
Telephone: (000) 000-0000 By /s/ Xxxx Xxxxxx
Telecopy: (000) 000-0000 -------------------------------
Title: A.V.P.
1211 Avenue of the Americas WESTDEUTSCHE LANDESBANK
Xxx Xxxx, XX 00000 GIROZENTRALE, NEW YORK AND
Attn: Xxxx Xxxxxxxx CAYMAN ISLAND BRANCHES
Telephone: (000) 000-0000
Telecopy: (000) 000-0000 By /s/ Xxxx X. Xxxxxxxx
-------------------------------
Title: Xxxx X. Xxxxxxxx
Vice President
By /s/
-------------------------------
Title: Associate
1 Parkview Plaza XXX XXXXXX AMERICAN CAPITAL
Xxxxxxxx Xxxxxxx, XX 00000 PRIME RATE INCOME TRUST
Attn: Xxxxxxx X. Xxxxxxx
Telephone: (000) 000-0000 By /s/ Xxxxxxx X. Xxxxxxx
Telecopy: (000) 000-0000 -------------------------------
Title: Xxxxxxx X. Xxxxxxx
Senior Vice President
& Director
000 Xxxxxxxxx Xxxxxx Xxx., Xxxxx 0000 THE YASUDA TRUST AND BANKING
Xxxxxxx, XX 00000 COMPANY, LTD.
Attn: Xxxxxx Xxxxx
Telephone: (000) 000-0000 By /s/ X. Xxxxxx
Telcopy: (000) 000-0000 -------------------------------
Title: Xxxxxx Xxxxxx
Deputy General Manager
