AMENDED AND RESTATED FACTORING AND FINANCING AGREEMENT The CIT Group/Commercial Services, Inc. (as Lender) and Bernard Chaus, Inc. Cynthia Steffe Acquisition, LLC and S.L. Danielle Acquisition, LLC (as Borrowers) Dated: As of September 10, 2009Factoring and Financing Agreement • November 17th, 2009 • Chaus Bernard Inc • Women's, misses', and juniors outerwear
WHEREAS, the Companies and Lender are parties to (i) an Amended and Restated Financing Agreement (as amended through the date hereof, the “A&R Financing Agreement”) dated as of September 18, 2008 (the “Original Closing Date”), and related agreements and documents pursuant to which CIT, as agent for the lenders from time to time party thereto (in such capacity, the “Agent”) extended to the Companies a Revolving Line of Credit in the amount of up to $30,000,000 and (ii) a Factoring Agreement dated September 18, 2008 (the “Original Factoring Agreement” and together with the A&R Financing Agreement, the “Original Factoring and Financing Agreements”) and related agreements and documents pursuant to which CIT acted as sole factor (in such capacity, the “Factor”); and
