SUPPLEMENTAL AGREEMENT
Exhibit 10.8
SUPPLEMENTAL AGREEMENT
SUPPLEMENTAL AGREEMENT, dated as of February 6, 2014, made by HD SUPPLY HOLDINGS, LLC, a Florida limited liability company and HD SUPPLY FACILITIES MAINTENANCE, LTD., a Florida limited partnership (each, an Additional Pledgor), in favor of BANK OF AMERICA, N.A., as collateral agent and administrative agent (in such capacity, the Collateral Agent) for the banks and other financial institutions (the Lenders) from time to time parties to the Term Loan Credit Agreement referred to below and the other Secured Parties (as defined below). All capitalized terms not defined herein shall have the meaning ascribed to them in the Guarantee and Collateral Agreement referred to below, or if not defined therein, in the Term Loan Credit Agreement.
W I T N E S S E T H :
WHEREAS, HD Supply, Inc., a Delaware corporation (the Borrower), Bank of America, N.A., as administrative agent and collateral agent, the Lenders and certain other persons are parties to a Credit Agreement, dated as of April 12, 2012 (as amended, supplemented, waived or otherwise modified from time to time, the Term Loan Credit Agreement);
WHEREAS, in connection with the Term Loan Credit Agreement, the Borrower and certain of its Subsidiaries are, or are to become, parties to the Guarantee and Collateral Agreement, dated as of April 12, 2012 (as amended, supplemented, waived or otherwise modified from time to time, the Term Loan Guarantee and Collateral Agreement), in favor of the Collateral Agent, for the benefit of the Secured Parties (as defined in the Term Loan Guarantee and Collateral Agreement);
WHEREAS, the Term Loan Credit Agreement requires each Additional Pledgor to become a Pledgor under the Term Loan Guarantee and Collateral Agreement with respect to Capital Stock of certain new Subsidiaries of the Borrower; and
WHEREAS, each Additional Pledgor has agreed to execute and deliver this Supplemental Agreement in order to become such a Pledgor under the Term Loan Guarantee and Collateral Agreement;
NOW, THEREFORE, IT IS AGREED:
1. Term Loan Guarantee and Collateral Agreement. By executing and delivering this Supplemental Agreement, each Additional Pledgor, as provided in subsection 9.15 of the Term Loan Guarantee and Collateral Agreement, hereby becomes a Pledgor under the Term Loan Guarantee and Collateral Agreement with respect to the shares of Capital Stock of the Subsidiary of the Borrower listed in Annex 1-A hereto, as a Grantor thereunder. The information set forth in Annex 1-A hereto is hereby added to the information set forth in Schedule 2 to the Term Loan Guarantee and Collateral Agreement, and such Schedule 2 is hereby amended and modified to include such information.
2. GOVERNING LAW. THIS SUPPLEMENTAL AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK WITHOUT GIVING EFFECT TO ITS PRINCIPLES OR RULES OF CONFLICT OF LAWS TO THE EXTENT SUCH PRINCIPLES OR RULES ARE NOT MANDATORILY APPLICABLE BY STATUTE AND WOULD REQUIRE OR PERMIT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION.
IN WITNESS WHEREOF, the undersigned has caused this Supplemental Agreement to be duly executed and delivered as of the date first above written.
| HD SUPPLY HOLDINGS, LLC | ||
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| By: | /s/ Ricardo Nunez | |
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| Name: Ricardo Nunez | |
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| Title: Vice President and Secretary | |
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| HD SUPPLY FACILITIES MAINTENANCE, LTD. | ||
| By: | HD Supply GP & Management, Inc., | |
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| its general partner | |
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| By: | /s/ Ricardo Nunez | |
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| Name: Ricardo Nunez | |
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| Title: Vice President and Secretary | |
[Signature Page to Supplemental Agreement (Term Loan)]
Acknowledged and Agreed to as |
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of the date hereof by: |
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BANK OF AMERICA, N.A., |
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as Collateral Agent and Administrative Agent |
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By: | /s/ Darleen R Parmelee |
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| Name: Darleen R Parmelee |
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| Title: Vice President |
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[Signature Page to Supplemental Agreement (Term Loan)]
Annex 1-A to
Supplemental Agreement
Supplement to
Term Loan Guarantee and Collateral Agreement
Schedule 2
Pledged Stock
Pledgor |
| Issuer |
| Class of Stock or |
| Par Value |
| Certificate |
| Number of |
| % of All |
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HD Supply Holdings, LLC |
| Creative Touch Interiors, Inc. |
| Common (voting shares) |
| No par |
| 23 |
| 1000 |
| 100 | % |
HD Supply Facilities Maintenance, Ltd. |
| HD Supply FM Services, LLC |
| Units of membership interests |
| No par |
| N/A |
| 100 |
| 100 | % |
1-A-1