FIFTH AMENDMENT
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FIFTH AMENDMENT (this "Amendment"), dated as of March 25, 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 (formerly known as 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.
W I T N E S S E T H :
- - - - - - - - - -
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, the Third Amendment thereto dated as of September 16, 1996 and the
Fourth Amendment thereto dated as of January 15, 1997 (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:
1. (a) On the Fifth Amendment Effective Date (as defined hereinbelow), the
Credit Agreement shall be amended to read as set forth in Exhibit A hereto (as
so amended, the "Amended Credit Agreement"), with the same effect as if each of
the parties hereto had executed and delivered to the Administrative Agent a
counterpart of the Amended Credit Agreement.
(b) Notwithstanding anything herein to the contrary, this Amendment
shall terminate and be of no force and effect if the Fifth Amendment Effective
Date shall not have occurred on or prior to March 31, 1997.
2. 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 Fifth Amendment Effective Date both before and after
giving effect to this Amendment and (y) all of the representations and
warranties contained in the Amended Credit Agreement shall be true and correct
in all material respects as of the Fifth 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 Fifth 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).
3. 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.
4. 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.
5. 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.
6. This Amendment shall become effective on the date (the "Fifth 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.
7. From and after the Fifth 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 Amended Credit Agreement.
-2-
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:
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7100 Service Merchandise Drive SERVICE MERCHANDISE
Xxxxxxxxx, XX 00000 COMPANY, INC.
Attn: Xxxxxx X. Xxxxxxx, Xx.
Telephone: (000) 000-0000 By /s/ Xxxx Xxxxx
Telecopy: (000) 000-0000 --------------------------
Title: Vice President
and Assistant Treasurer
000 Xxxx Xxxxxx XXX XXXXX XXXXXXXXX BANK
10th Floor Individually, and as
Xxx Xxxx, XX 00000 Administrative Agent
Attn: Xxxxxxx X. Xxxxxxxx
Telephone: (000) 000-0000 By _________________________
Telecopy: (000) 000-0000 Title:
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
Xxxxxxxxx, XX 00000 COMPANY, INC.
Attn: Xxxxxx X. Xxxxxxx, Xx.
Telephone: (000) 000-0000 By__________________________
Telecopy: (000) 000-0000 Title:
000 Xxxx Xxxxxx XXX XXXXX XXXXXXXXX BANK
10th Floor Individually, and as
Xxx Xxxx, XX 00000 Administrative Agent
Attn: Xxxxxxx X. Xxxxxxxx
Telephone: (000) 000-0000 By /s/ Xxxxxxx X. Xxxxxxxx
Telecopy: (000) 000-0000 --------------------------
Title: Xxxxxxx X. Xxxxxxxx
Vice President
000 Xxxx Xxxxxx XXXX XXXXXXX CORPORATION
00xx Xxxxx
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, 01-09-05 THE FIRST XXXXXXXX XXXX XX
Xxxxxx, XX 00000 BOSTON
Attn: Xxxxx X. Xxxxxxxx
Telephone: (000) 000-0000 By__________________________
Telecopy: (000) 000-0000 Title:
000 Xxxxxxxxx XXX XXXX XX XXXXXXXX
Xxxxx 0000
Xxxxxxx, XX 00000
Attn: Xxx XxXxxx
Telephone: (000) 000-0000 By__________________________
Telecopy: (000) 000-0000 Title:
Xxx Xxxx Xxxxxx XXX XXXX XX XXX XXXX
Xxx Xxxx, XX 00000
Attn: Xxxxx XxXxxxxx
Telephone: (000) 000-0000 By /s/ Xxxxx XxXxxxxx
Telecopy: (000) 000-0000 --------------------------
Title: Vice President
1251 Avenue of the Americas XXX XXXX XX XXXXX-
00xx Xxxxx MITSUBISHI, LTD.
Xxx Xxxx, XX 00000
Attn: Xxxx X. Xxxxxxx
Telephone: (000) 000-0000 By /s/ Xxxx X. Xxxxxxx
Telecopy: (000) 000-0000 --------------------------
Title: XXXX X. XXXXXXX
Vice President
1251 Avenue of the Americas XXX XXXX XX XXXXX-
00xx Xxxxx MITSUBISHI TRUST COMPANY
Xxx Xxxx, XX 00000
Attn: Xxxx X. Xxxxxxx
Telephone: (000) 000-0000 By /s/ Xxxx X. Xxxxxxx
Telecopy: (000) 000-0000 --------------------------
Title: XXXX X. XXXXXXX
Vice President
000 0xx Xxxxxx BANQUE PARIBAS
32nd Floor
New York, NY 10019
Attn: Xxxx Xxxxxxxx
Telephone: (000) 000-0000 By /s/ Xxxx X. Xxxxxxxx
Telecopy: (000) 000-0000 --------------------------
Title: Xxxx X. Xxxxxxxx
Group Vice President
By /s/ Xxxxxx X. Xxxxxx
--------------------------
Title: Xxxxxx X. Xxxxxx
Vice President
000 Xxxxxxxxx Xxxxxx XXXX Inc.
0xx Xxxxx
Xxx Xxxx, XX 00000
Attn: Xxxxxxxxxxx Xxxxxxxxxxx
Telephone: (000) 000-0000 By /s/ Xxxxxxxxxxx X. Xxxxxxxxxxx
Telecopy: (000) 000-0000 --------------------------
Title: Director, CIBC Wood Gundy
Securities Corp., AS AGENT
00 Xxxx Xxxxxx DRESDNER BANK AG,
00xx Xxxxx XXX XXXX XXXXXX
Xxx Xxxx, XX 00000
Attn: Xxxxxxx Xxxxx
Telephone: (000) 000-0000 By__________________________
Telecopy: (000) 000-0000 Title:
By__________________________
Title:
Marquis One Tower THE FUJI BANK, LTD.
Suite 2100
000 Xxxxxxxxx Xxxxxx Xxx., XX
Xxxxxxx, XX 00000
Attn: Xxxxx Xxxx
Telephone: (000) 000-0000 By /s/ Xxxxxxxxx Xxxxxx
Telecopy: (000) 000-0000 --------------------------
Title: Vice-President and Manager
Two World Trade Center THE HOKKAIDO TAKUSHOKU
99th Floor BANK, LTD.
Xxx Xxxx, XX 00000
Attn: Xxxxx X. Xxxxxxx
Telephone: (000) 000-0000 By /s/ Xxxxxxxx X. Xxxxxxx
Telecopy: (000) 000-0000 --------------------------
Title: SVP and Manager
1251 Avenue of the Americas THE INDUSTRIAL BANK OF JAPAN,
Xxx Xxxx, XX 00000 LIMITED - NEW YORK BRANCH
Attn: Xxxxx Xxxxx
Telephone: (000) 000-0000 By /s/ Takuya Honjo
Telecopy: (000) 000-0000 --------------------------
Title: TAKUYA HONJO
SENIOR VICE PRESIDENT
000 Xxxxxxxx LTCB TRUST COMPANY
Xxx Xxxx, XX 00000
Attn: Xxxx Xxxxxx
Telephone: (000) 000-0000 By /s/ Xxxx X. Xxxxxxxx
Telecopy: (000) 000-0000 --------------------------
Title: Executive Vice President
000 Xxxxxxxx XXXX XXXXXXXX, INC.
0xx Xxxxx
Xxx Xxxx, XX 00000
Attn: Xxxx Xxxxxxxx
Telephone: (000) 000-0000 By /s/ X.X. Xxxxx
Telecopy: (000) 000-0000 --------------------------
Title: SENIOR VICE PRESIDENT
000 Xxxx Xxxxxxxxx Xx. XXX XXXX, XXXXXXXX, INC.
Xxxxxxxxxx, Xxxxxxxx 00000
Attn: Xxxxx Xxxxxxxx
Telephone: (000) 000-0000 By /s/ Xxxxx X. Xxxxxx
Telecopy: (000) 000-0000 --------------------------
Title: Vice President
000 Xxxxxxx Xxxxxx THE MITSUBISHI TRUST AND
25th Floor BANKING CORPORATION
Xxx Xxxx, XX 00000
Attn: Xxxxx XxXxxxx
Telephone: (000) 000-0000 By /s/ Xxxxxxxx Xxxxx xx Xxxx
Telecopy: (000) 000-0000 --------------------------
Title: Senior Vice President
One NationsBank Plaza NATIONSBANK, N.A.
0xx Xxxxx
Xxxxxxxxx, XX 00000-0000
Attn: Xxxxxxxx Xxxxx
Telephone: (000) 000-0000 By__________________________
Telecopy: (000) 000-0000 Title:
000 Xxxx Xxxxxx THE NIPPON CREDIT BANK, LTD.
00xx Xxxxx
Xxx Xxxx, XX 00000
Attn: Xxxxx Xxxx
Telephone: (000) 000-0000 By /s/ Xxxxx X. Xxxx
Telecopy: (000) 000-0000 --------------------------
Title: Assistant Vice President
Marquis One Tower THE SAKURA BANK, LIMITED
Suite 2703
000 Xxxxxxxxx Xxxxxx Xxx., X.X.
Xxxxxxx, XX 00000
Attn: Xxxx Xxxxxxxxx
Telephone: (000) 000-0000 By /s/ Xxxxxxxx Xxxxxxxx
Telecopy: (000) 000-0000 --------------------------
Title: XXXXXXXX XXXXXXXX
V.P. & SENIOR MANAGER
Georgia Pacific Center THE SUMITOMO BANK, LIMITED
000 Xxxxxxxxx Xxxxxx, X.X.
Xxxxx 0000
Xxxxxxx, XX 00000
Attn: Xxxxxx Xxxxxx
Telephone: (000) 000-0000 By /s/ Xxxxxxxx Xxxxxxxxx
Telecopy: (000) 000-0000 --------------------------
Title: JOINT GENERAL MANAGER
XXXXXXXX XXXXXXXXX
55 East 52nd Street THE TOKAI BANK, LTD.
Xxx Xxxx, XX 00000 NEW YORK BRANCH
Attn: Haruyo Niki
Telephone: (000) 000-0000 By__________________________
Telecopy: (000) 000-0000 Title:
One Detroit Center COMERICA BANK
000 Xxxxxxxx Xxxxxx, XX 0000
Xxxxxxx, XX 00000
Attn: Xxxxxxxx X. Xxxxxxxx
Telephone: (000) 000-0000 By /s/ Xxxxxxxx X. Xxxxxxxx
Telecopy: (000) 000-0000 --------------------------
Title: Xxxxxxxx X. Xxxxxxxx,
Account Officer
000 0xx Xxxxxx XXXX XX XXXXXXX, CAYMAN
0xx Xxxxx XXXXXX XXXXXX
Xxx Xxxx, XX 00000
Attn: Xxxxx Xxxxx
Telephone: (000) 000-0000 By /s/ Xxxxx Xxxxx
Telecopy: (000) 000-0000 --------------------------
Title: Vice President
1211 Avenue of the Americas WESTDEUTSCHE LANDESBANK
23rd Floor GIROZENTRALE, NEW YORK AND
Xxx Xxxx, XX 00000 CAYMAN ISLAND BRANCHES
Attn: Xxxx Xxxxxxxx
Telephone: (000) 000-0000 By__________________________
Telecopy: (000) 000-0000 Title:
By__________________________
Title:
0 Xxxxxxxx Xxxxx 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
Xx. Vice Pres. - Portfolio Mgr.
000 Xxxxxxxxx Xxxxxx Xxx., X.X. THE YASUDA TRUST AND
Suite 2104 BANKING COMPANY, LTD.
Xxxxxxx, XX 00000
Attn: Xxxxxx Xxxxx
Telephone: (000) 000-0000 By /s/ Xxxxxxxx Xxxxxx
Telecopy: (000) 000-0000 --------------------------
Title: XXXXXXXX XXXXXX
CHIEF REPRESENTATIVE
One Ravinia Drive ABN AMRO BANK N.V.,
Suite 1200 ATLANTA AGENCY
Xxxxxxx, XX 00000-0000
Attn: Xxxxx Xxxxx
Telephone: (000) 000-0000 By /s/ Xxxxxx X. Xxxxxxx
Telecopy: (000) 000-0000 --------------------------
Title: VICE PRESIDENT
By /s/ Xxxxx X. Xxxxxx
--------------------------
Title: GROUP VICE PRESIDENT
