Reference is hereby made to that certain First Amended and Restated Forbearance Agreement, dated as of July 15, 2020 (as amended by that certain amendment dated July 22, 2020, and as amended hereby, the Forbearance Agreement), by and among Jill Acquisition LLC, a Delaware limited liability company (Jill Acquisition), J.Jill Gift Card Solutions, Inc., a Florida corporation (J.Jill Gift Card Solutions and together with Jill Acquisition, each a Borrower and collectively, the Borrowers), J.Jill, Inc., a Delaware corporation (Parent), CIT Finance LLC, as administrative agent and collateral agent (in such capacities, the Agent) and the Lenders party thereto. Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed to them in the Forbearance Agreement.
Pursuant to Section 6.06 of the Forbearance Agreement, the Forbearance Agreement may only be amended or modified in writing by the Credit Parties and the Required Lenders (or the Agent at the direction of the Required Lenders), subject to any additional requirements under the Credit Agreement, if applicable; provided that, at the option of the Required Lenders in their sole discretion, any such amendment may be effectuated through email confirmation.
The Credit Parties have requested, notwithstanding the terms and conditions of the Forbearance Agreement, that the Agent and the Required Lenders consent to and approve the following amendments to the Forbearance Agreement:
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The reference to July 30, 2020 in Section 2.02(a) of the Forbearance Agreement be replaced with August 6, 2020;
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The reference to July 30, 2020 in Section 6.01(b) of the Forbearance Agreement be replaced with August 6, 2020; and
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New section 4.01(e) shall be added to Section 4.01 of the Forbearance Agreement immediately following Section 4.01(d) as follows:
(e) No later than 5:00 p.m. New York City time on August 6, 2020, the Credit Parties shall deliver a proposed term sheet from the Lenders party to (and as defined in) the Term Loan Credit Agreement containing proposed amendments to the Term Loan Credit Agreement and other terms and conditions with respect to the recapitalization, restructuring or similar transaction of the Credit Parties.
(collectively, the Proposed Amendments).
We have been authorized on behalf of the Agent and the Required Lenders to consent to and approve the Proposed Amendments. Such consent agreed to herein (a) is strictly limited to the Proposed Amendments, (b) shall not extend nor be deemed to extend to any other Event of Termination, Default or Event of Default that may now exist or hereafter arise under the Forbearance Agreement, the Credit Agreement or any of the other Credit Documents, whether similar or dissimilar to the matters consented to herein, or to any other covenant, representation, warranty, or agreement under the Forbearance