Exhibit 10.11
AMENDMENT NO. 1 TO CREDIT AGREEMENT
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This AMENDMENT NO. 1 is entered into as of this 11th day of July, 1996
(this "Amendment") among WILSONS LEATHER HOLDINGS INC., a Minnesota corporation
(the "Borrower"), GENERAL ELECTRIC CAPITAL CORPORATION, a New York corporation
(in its individual capacity, "GE Capital"), for itself, as Lender, as Swing Line
Lender and as Agent for Lenders, and the other Lenders signatory hereto from
time to time.
Recitals
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WHEREAS, the Borrower, GE Capital and the Lenders are parties to that
certain Credit Agreement dated as of May 25, 1996 (the "Credit Agreement"; all
capitalized terms used herein and not otherwise defined herein shall have the
meaning ascribed to them in the Credit Agreement), providing for a revolving
credit facility to the Borrower of up to $150,000,000; and
WHEREAS, the designation of one of the Lenders, Signet Bank, in the Credit
Agreement is inaccurate as to the precise form of its legal name; and
WHEREAS, the Borrower, the Lenders and GE Capital consent to this Amendment
to the Credit Agreement for purposes of showing the proper legal name of one of
the Lenders.
NOW, THEREFORE, in consideration of the foregoing recitals and the mutual
agreements contained herein, and for other good and valuable consideration, the
parties hereto agree as follows:
1. Each and every reference to "Signet Business Credit, as Lender" in
the Credit Agreement be and hereby is amended and replaced in its entirety with
the words "Signet Bank, as Lender". Accordingly, each and every reference to
"Signet Business Credit" in the Credit Agreement shall be construed to be a
reference to "Signet Bank".
[signature pages follow]
IN WITNESS WHEREOF, this Amendment has been duly executed as of the date
first written above.
WILSONS LEATHER HOLDINGS INC.
By:
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Title:
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GENERAL ELECTRIC CAPITAL
CORPORATION, as Agent, Lender and
Swing Line Lender
By:
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Title:
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THE FIRST NATIONAL BANK OF BOSTON,
as Lender
By:
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Title:
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SANWA BUSINESS CREDIT CORPORATION,
as Lender
By:
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Title:
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SIGNET BANK, as Lender
By:
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Title:
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2
THE CIT GROUP/BUSINESS CREDIT, INC.,
as Lender
By:
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Title:
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TRANSAMERICA BUSINESS CREDIT
CORPORATION, as Lender
By:
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Title:
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CORESTATES BANK N.A., as Lender
By:
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Title:
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BANKAMERICA BUSINESS CREDIT, INC.,
as Lender
By:
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Title:
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FIRST BANK NATIONAL ASSOCIATION,
as Lender
By:
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Title:
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3
