Contract
Exhibit
10.44
AMENDMENT NO.
1
dated as of August 25, 2005, to the Amended and Restated Credit Agreement dated
as of November 3, 2004 (the “Credit
Agreement”),
among
ADVANCE AUTO PARTS, INC. (“Holdings”),
ADVANCE STORES COMPANY, INCORPORATED (the “Borrower”),
the
financial and other institutions party thereto as lenders (the “Lenders”),
and
JPMORGAN CHASE BANK, N.A., as administrative agent (in such capacity, the
“Administrative
Agent”)
for
the Lenders.
A. Pursuant
to the Credit Agreement, the Lenders have extended credit to the Borrower,
and
have agreed to extend credit to the Borrower, pursuant to the terms and subject
to the conditions set forth therein.
B. The
Borrower has requested that the Lenders agree to amend certain provisions of
the
Credit Agreement, as set forth herein.
C. The
undersigned Lenders are willing to agree to such amendment pursuant
to the terms and subject to the conditions set forth herein.
In
consideration of the premises and the agreements, provisions and covenants
herein contained, the parties hereto hereby agree, on the terms and subject
to
the conditions set forth herein, as follows:
SECTION
1. Definitions;
References.
Unless
otherwise specifically defined herein, each term used herein that is defined
in
the Credit Agreement shall have the meaning assigned to such term in the Credit
Agreement. Each reference to “hereof”, “hereunder”, “herein” and “hereby” and
each other similar reference and each reference to “this Agreement” and each
other similar reference contained in the Credit Agreement shall from and after
the date hereof refer to the Credit Agreement with such amendments effected
hereby.
SECTION
2. Amendment
to Section 5.01.
Clauses
(a) and (b) of Section 5.01 of the Credit Agreement are hereby amended by
deleting the words “and consolidating” wherever such words appear.
SECTION
3. Amendment
to Section 6.04.
Section
6.04 of the Credit Agreement is hereby amended by (i) deleting the text “and” at
the end of clause (l), (ii) replacing the “.” at the end of clause (m) with “;
and”, and (iii) inserting immediately after clause (m) of such
Section:
(n)
Guarantees by any Loan Party of any obligation (other than Indebtedness) of
any
other Loan Party.
2
SECTION
4. Amendment
to Section 6.08.
Section 6.08 of the Credit Agreement is hereby amended by (i) deleting
the text “and” at the end of clause (f), (ii) replacing the “.” at the
end of clause (g) with “and”, and (iii) inserting immediately after
clause (g) of such Section:
(h)
Guarantees of obligations of Subsidiaries that are not Loan Parties permitted
by
Section 6.04.
SECTION
5. Amendment
to Section 6.12.
Section
6.12 of the Credit Agreement is hereby amended by replacing the portion of
the
table set forth therein applicable to periods ending on or after December
31, 2005, with the following:
Fiscal
Year
Ending
|
Amount
|
|
|
December
31, 2005
|
$325,000,000
|
December
30, 2006
|
$375,000,000
|
Each
fiscal year thereafter
|
$400,000,000
|
SECTION
6. Representations
and Warranties.
Each of
Holdings and the Borrower represents and warrants to each of the Lenders
that:
(a)
After
giving effect to this Amendment, the representations and warranties of each
Loan
Party set forth in the Loan Documents are true and correct on the date hereof
with the same effect as if made on the date hereof, except for representations
and warranties expressly made as of an earlier date, which were true and correct
as of such earlier date.
(b)
After
giving effect to this Amendment, no Default shall have occurred and be
continuing.
SECTION
7. Conditions
to Effectiveness.
This
Amendment shall become effective as of the date (the “Amendment
Effective Date”)
on
which the following conditions precedent have been satisfied:
(i)
the
Administrative Agent shall have received counterparts of this Amendment that,
when taken together, bear the signatures of Holdings, the Borrower and the
Required Lenders; and
(ii)
the
Administrative Agent shall have received all amounts due and payable by the
Borrower hereunder or under the Credit Agreement on or prior to the Amendment
Effective Date, including, to the extent invoiced, reimbursement or payment
of
all out-of-pocket expenses (including expenses due pursuant to Section 10 of
this Amendment) required to be reimbursed or paid by the Borrower hereunder
or
thereunder.
3
SECTION
8. Applicable
Law.
THIS
AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS
OF
THE STATE OF NEW YORK.
SECTION
9. Counterparts.
This
Amendment may be executed in two or more counterparts, each of which shall
constitute an original but all of which when taken together shall constitute
but
one contract. Delivery of an executed signature page of this Amendment by
facsimile transmission shall be effective as delivery of a manually executed
counterpart hereof.
SECTION
10. Expenses.
The
Borrower agrees to reimburse the Administrative Agent for its out-of-pocket
expenses in connection with this Amendment, including the reasonable fees,
charges and disbursements of Cravath, Swaine & Xxxxx LLP, counsel
for the Administrative Agent.
SECTION
11. Headings.
The
Section headings used herein are for convenience of reference only, are not
part
of this Amendment and are not to affect the construction of, or to be taken
into
consideration in interpreting, this Amendment.
SECTION
12. Effect
of Amendment.
Except
as expressly set forth herein, this Amendment shall not by implication or
otherwise limit, impair, constitute a waiver of, amend, or otherwise affect
the
rights and remedies of the Lenders or the Administrative Agent under the Credit
Agreement or any other Loan Document, and shall not alter, modify, amend or
in
any way affect any of the terms, conditions, obligations, covenants or
agreements contained in the Credit Agreement or any other Loan Document, all
of
which are ratified and affirmed in all respects and shall continue in full
force
and effect. Nothing herein shall be deemed to entitle any Loan Party to a
consent to, or a waiver, amendment, modification or other change of, any of
the
terms, conditions, obligations, covenants or agreements contained in the Credit
Agreement or any other Loan Document in similar or different circumstances.
This
Amendment shall apply and be effective with respect to the matters expressly
referred to herein. After the Amendment Effective Date, any reference to the
Credit Agreement shall mean the Credit Agreement as amended or modified hereby.
This Amendment shall constitute a “Loan Document” for all purposes of the Credit
Agreement and the other Loan Documents.
IN
WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly
executed by their respective authorized officers as of the day and year first
written above.
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remainder of this page intentionally left blank]
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ADVANCE AUTO PARTS, INC. | ||
by: | ||
Name:
Title:
|
ADVANCE STORES COMPANY,
INCORPORATED,
|
||
by: | ||
Name:
Title:
|
JPMORGAN CHASE BANK, N.A.,
individually and as Administrative Agent,
|
||
by: | ||
Name:
Title:
|
5
SIGNATURE PAGE TO AMENDMENT NO. 1 DATED AS OF AUGUST 25, 2005,
TO THE
AMENDED AND RESTATED CREDIT AGREEMENT DATED AS OF NOVEMBER 3, 2004,
among ADVANCE AUTO PARTS, INC., ADVANCE STORES COMPANY, INCORPORATED,
THE
LENDERS and JPMORGAN CHASE BANK, N.A., as Administrative
Agent,
|
||
Name of Institution ___________________, | ||
by: | ||
Name:
Title:
|