REVOLVING CREDIT AND SECURITY AGREEMENT PNC BANK, NATIONAL ASSOCIATION (AS LENDER AND AS AGENT) WITH DREAMS, INC. AND CERTAIN SUBSIDIARIES OF DREAMS, INC. AND THEIR SUBSIDIARIES (BORROWERS) DECEMBER 23, 2011Security Agreement • December 28th, 2011 • Dreams Inc • Retail-hobby, toy & game shops • Florida
Revolving Credit and Security Agreement dated as of December 23, 2011 among DREAMS, INC., a Utah corporation (the “Company”), and each of the other Persons identified on the signature pages hereto as a Borrower and any other Person which may become a Borrower hereunder pursuant to Section 7.12 (together with the Company, the “Borrowers” and each individually a “Borrower”), the financial institutions which are now or which hereafter become a party hereto (collectively, the “Lenders” and individually a “Lender”) and PNC BANK, NATIONAL ASSOCIATION (“PNC”), as agent for Lenders (PNC, in such capacity, the “Agent”).
REVOLVING CREDIT NOTEDreams Inc • December 28th, 2011 • Retail-hobby, toy & game shops
This Revolving Credit Note is executed and delivered under and pursuant to the terms of that certain amended, restated, supplemented or modified from time to time, the “Loan Agreement”) by and among each of the undersigned, as Borrowers, the various financial institutions named therein or which hereafter become a party thereto (each individually a “Lender” and collectively, “Lenders”) and PNC BANK, NATIONAL ASSOCIATION, as agent for Lenders (in such capacity, “Agent”). Capitalized terms not otherwise defined herein shall have the meanings provided in the Loan Agreement.
Dreams Establishes $35 Million Credit Facility with PNC Bank New Facility Improves Liquidity and Reduces Cost of CapitalDreams Inc • December 28th, 2011 • Retail-hobby, toy & game shops
PLANTATION, Fla. – December 28, 2011 — Dreams, Inc. (NYSE Amex: DRJ), a technology driven, multi-channel retailer focused on the licensed sports products industry, has entered into a three-year loan and security agreement for $35 million with PNC Bank. The new facility replaces the company’s previous line of credit and expands their liquidity by $7.5 million.
