Exhibit 10.1
FIRST AMENDMENT TO SECOND AMENDED
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AND RESTATED LOAN AGREEMENT
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This First Amendment to Second Amended and Restated Loan Agreement as of
June 30, 1998, by and between Citizens Bank of Massachusetts (herein "BANK"),
and DM Management Company, a Delaware corporation (herein "BORROWER:).
Reference is made to a certain Loan Agreement made as of June 5, 1997 by
and between BANK and BORROWER, as the same has been amended and restated in a
certain Amended and Restated Loan Agreement dated October 31, 1997, and in a
certain Second Amended and Restated Loan Agreement dated March 5, 1998 (as so
restated, the "Loan Agreement").
WITNESSETH:
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WHEREAS, the BORROWER wishes to amend certain of the provisions of the Loan
Agreement; and
WHEREAS, THE BANK is willing to do so on the terms, provisions and
conditions contained herein;
NOW, THEREFORE, in consideration of the covenants and agreements herein
contained, the parties hereby agree that the Loan Agreement is hereby amended as
follows:
Paragraph 11.11 of the Loan Agreement is hereby deleted and the following
inserted in lieu thereof:
11.11 The BORROWER will not, for any four (4) consecutive fiscal
quarters, permit DEBT SERVICE COVERAGE to be less than 1.25 to 1. Such
covenant shall be calculated quarterly based upon the preceding 12 months
of operations commencing with the twelve month period year ending June 30,
1997. Notwithstanding the foregoing, the calculation for the quarters
ending June 30, 1998 and September 30, 1998 shall be made without any
reference to UNFINANCED CAPITAL EXPENDITURES.
This Amendment shall take effect as of the date first above written.
Except as hereby amended, the Loan Agreement is hereby ratified, confirmed
and republished.
IN WITNESS WHEREOF, the parties hereto have set their hands and seals as of
the date first above written.
Witness: DM MANAGEMENT COMPANY
By: /s/ Xxxxx X. Xxxx
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Xxxxx X. Xxxx, Corporate Controller
CITIZENS BANK OF MASSACHUSETTS
By: /s/ Xxxx X. Xxxxx
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Xxxx X. Xxxxx, Senior Vice President
