EXHIBIT 10.13
FIRST AMENDMENT TO
LOAN AND SECURITY AGREEMENT GBFC, INC.
Effective: July 15, 1997
THIS FIRST AMENDMENT is made to the May 30, 1997 Loan and Security
Agreement, as amended (the "Loan Agreement") between
GBFC, Inc., a Delaware corporation with its principal executive offices
at 00 Xxxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx, as Administrative Agent for the
ratable benefit of the "Lenders" and as a "Lender;
Fleet National Bank, a national banking association with offices at Xxx
Xxxxxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx, as Co-Agent for the ratable benefit of
the Lenders and as a "Lender;
and
JBI, Inc. a Massachusetts corporation with its principal executive offices
at 000 Xxxxxxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx 00000, as "Lead Borrower" and as
agent for the "Borrowers", being the following:
JBI, Inc.;
MorseShoe, Inc. (a Delaware corporation with its principal executive
offices at 000 Xxxxxxxx Xxxxxx, Xxxxxx, Xxxxxxxxxxxxx, 02012); and
JBI Holding Company, Inc. (a Delaware corporation with its principal
executive offices at 000 Xxxxxx Xxxxxx, Xxxxxxxxxx, DE, 19801),
in consideration of the mutual covenants contained herein and benefits
to be derived herefrom,
WITNESSETH:
Article 3 (Definition of "Acceptable Host Store") is amended to read as
follows:
"Acceptable Host Store": (a) A Key Host Store which has executed a Host
Store Consent.
(b) Until July 31, 1997, any Host Store which is
not a Key Host Store.
(c) After July 31, 1997, any Host Store which has
executed a Host Store Consent.
Each Borrower hereby represents that, at the execution of the within
Agreement, no Suspension Event has occurred.
Except as amended hereby, all terms and provisions of the Loan
Agreement shall remain in full force and effect as executed.
THE LEAD BORROWER
JBI, INC.
By /s/ Xxxxxx Xxxxxxxxx
Print Name: Xxxxxx Xxxxxxxxx
Title:Executive Vice President
THE BORROWERS
JBI, INC. XXXXX SHOE, INC.
By /s/Xxxxxx Xxxxxxxxx By /s/ Xxxxxx Xxxxxxxxx
Print Name: Xxxxxx Xxxxxxxxx Print Name: Xxxxxx Xxxxxxxxx
Title: Executive Vice President Title:Executive Vice President
JBI HOLDING COMPANY, INC.
By /s/Xxxxxx Xxxxxxxxx
Print Name:Xxxxxx Xxxxxxxxx
Title: Executive Vice President
THE AGENTS AND LENDERS
GBFC, INC. FLEET NATIONAL BANK
By /s/ Xxxxxx X'Xxxxxxx By /s/Xxxx X. XxXxxxxxx
Print Name: Xxxxxx X'Xxxxxxx Print Name: Xxxx X. XxXxxxxxx
Title:Senior Vice President Title: Vice President
