First Amendment to Amended and Restated Loan and Security Agreement among Fleet Retail Finance Inc., Lenders, and The Sports Authority Entities

Summary

This amendment updates a previous loan and security agreement between Fleet Retail Finance Inc. (as Agent), several lender institutions, and The Sports Authority companies. The main change allows the borrowers to increase the amount of permitted repurchases under the agreement. All other terms of the original agreement remain in effect. The amendment also requires the borrowers to cover the Agent's and Lenders' legal and administrative costs related to this amendment. The agreement is effective as of June 8, 2001, and is signed by all parties involved.

EX-10.1 2 dex101.txt FIRST AMENDMENT TO LOAN & SECURITY AGREEMENT EXHIBIT 10.1 FIRST AMENDMENT TO AMENDED AND RESTATED LOAN AND SECURITY AGREEMENT ------------------------------------------------------------------- This First Amendment to Amended and Restated Loan and Security Agreement (the "First Amendment") is made as of the 8/th/ day of June, 2001 by and between Fleet Retail Finance Inc. (in such capacity, the "Agent"), as Agent for the Lenders party to a certain Amended and Restated Loan and Security Agreement dated as of August 3, 2000, the Lenders party thereto, and and Each of the following corporations (collectively, and each individually, the "Borrower"), each of which has its principal executive offices at 3383 North State Road 7, Fort Lauderdale, Florida 33319: The Sports Authority, Inc. (A Delaware corporation) The Sports Authority Florida, Inc. (A Florida corporation) The Sports Authority Michigan, Inc. (A Michigan corporation) Authority International, Inc. (A Delaware corporation) and The Sports Authority, Inc., a Delaware corporation with its principal executive offices at 3383 North State Road 7, Fort Lauderdale, Florida 33319 in the additional capacity as the "Lead Borrower" and The Sports Authority, Inc., a Delaware corporation with its principal executive offices at 3383 North State Road 7, Fort Lauderdale, Florida 33319 in the additional capacity as the "Parent" in consideration of the mutual covenants herein contained and benefits to be derived herefrom. W I T N E S S E T H: WHEREAS, on August 3, 2000, the Agent, the Lenders and the Borrowers entered in a certain Amended and Restated Loan and Security Agreement (the "Agreement"); and WHEREAS, the Lead Borrower has requested that the Agent and the Lenders agree to amend the Agreement to permit the Borrowers to increase the amount of Permitted Repurchases which the Borrowers are permitted to make under the Agreement; and WHEREAS, the Agent, the Lenders, and the Borrowers desire to modify certain of the provisions of the Agreement as set forth herein. NOW, THEREFORE, it is hereby agreed among the Agent, the Lenders and the Borrowers as follows: 1. Capitalized Terms. All capitalized terms used herein and not ----------------- otherwise defined shall have the same meaning herein as in the Agreement. 2. Amendment to Article 4. Section 4-19(b)(iii) of the Agreement is ---------------------- hereby deleted in its entirety. 3. Ratification of Loan Documents. Except as provided herein, all ------------------------------ terms and conditions of the Agreement on the other Loan Documents remain in full force and effect. 4. Miscellaneous. ------------- (a) This First Amendment may be executed in several counterparts and by each party on a separate counterpart, each of which when so executed and delivered shall be an original, and all of which together shall constitute one instrument. (b) This First Amendment expresses the entire understanding of the parties with respect to the transactions contemplated hereby. No prior negotiations or discussions shall limit, modify, or otherwise affect the provisions hereof. (c) Any determination that any provision of this First Amendment or any application hereof is invalid, illegal or unenforceable in any respect and in any instance shall not affect the validity, legality, or enforceability of such provision in any other instance, or the validity, legality or enforceability of any other provisions of this First Amendment. (d) The Borrower shall pay on demand all costs and expenses of the Agent and each Lender, including, without limitation, reasonable attorneys' fees in connection with the preparation, negotiation, execution and delivery of this First Amendment. IN WITNESS WHEREOF, the parties have hereunto caused this First Amendment to be executed and their seals to be hereto affixed as of the date first above written. The "Borrowers" : The "Lead Borrower" : The "Parent" : THE SPORTS AUTHORITY, INC. By_________________________________ Print Name: Bradford G. Ankerholz Title: SVP and Treasurer THE SPORTS AUTHORITY FLORIDA, INC. By_________________________________ Print Name: Bradford G. Ankerholz Title: SVP and Treasurer THE SPORTS AUTHORITY MICHIGAN, INC. By_________________________________ Print Name: Bradford G. Ankerholz Title: SVP and Treasurer AUTHORITY INTERNATIONAL, INC. By_________________________________ Print Name: Bradford G. Ankerholz Title: SVP and Treasurer 3 The "Agent" : FLEET RETAIL FINANCE INC. By_________________________________ Print Name:________________________________ Title:________________________________ The "Lenders" : FLEET RETAIL FINANCE INC. By_________________________________ Print Name:________________________________ Title:________________________________ FOOTHILL CAPITAL CORPORATION By_________________________________ Print Name:________________________________ Title:________________________________ HELLER FINANCIAL, INC. By_________________________________ Print Name:________________________________ Title:________________________________ BANK OF AMERICA, N.A. By_________________________________ Print Name:________________________________ Title:________________________________ 4 CITIZENS BUSINESS CREDIT, A DIVISION OF CITIZENS LEASING CORPORATION By_________________________________ Print Name:________________________________ Title:________________________________ FLEET CAPITAL CORPORATION By_________________________________ Print Name:________________________________ Title:________________________________ LASALLE BUSINESS CREDIT, INC. By_________________________________ Print Name:________________________________ Title:________________________________ THE CIT GROUP/BUSINESS CREDIT, INC. By_________________________________ Print Name:________________________________ Title:________________________________ CONGRESS FINANCIAL CORPORATION (SOUTHWEST) By_________________________________ Print Name:________________________________ 5 Title:________________________________ NATIONAL CITY COMMERCIAL FINANCE, INC. By_________________________________ Print Name:________________________________ Title:________________________________ THE PROVIDENT BANK By_________________________________ Print Name:________________________________ Title:________________________________ SENIOR DEBT PORTFOLIO By: Boston Management and Research, as Investment Advisor By_________________________________ Print Name:________________________________ Title:________________________________ GMAC BUSINESS CREDIT, LLC By_________________________________ Print Name:________________________________ Title:________________________________ 6 AMSOUTH BANK By_________________________________ Print Name:________________________________ Title:________________________________ IBJ WHITEHALL BUSINESS CREDIT CORPORATION By_________________________________ Print Name:________________________________ Title:________________________________ 7