Amendment Letter No. 4 to Series 2001-1-VFC Supplement among Stage Receivable Funding LP, Specialty Retailers (TX) LP, Deutsche Bank Trust Company Americas, Citicorp North America, Inc., and Fleet Securities, Inc.
This amendment updates the Series 2001-1-VFC Supplement, an agreement among Stage Receivable Funding LP (Transferor), Specialty Retailers (TX) LP (Servicer), Deutsche Bank Trust Company Americas (Trustee), Citicorp North America, Inc., and Fleet Securities, Inc. It temporarily increases a specified rate from 15% to 17% until October 21, 2003, and adds new conditions related to the expiration of a certificate purchase agreement and required asset examinations. The amendment is effective upon execution by all parties and payment of related fees, and does not waive any other rights or provisions of the original agreement.
EXHIBIT 10.2
AMENDMENT LETTER NO. 4
Dated as of August 21, 2003
To the Managing Agents, the Program Agent
and the Trustee
Ladies and Gentlemen:
We refer to the Series 2001-1-VFC Supplement dated as of August 24, 2001 (as amended, amended and restated, supplemented or otherwise modified from time to time, the "Supplement"; the terms defined therein, unless otherwise defined herein, being used herein as therein defined) among Stage Receivable Funding LP, as the Transferor, Specialty Retailers (TX) LP, as the Servicer, and Deutsche Bank Trust Company Americas (formerly known as Bankers Trust Company), as the Trustee.
It is hereby agreed by you and us that, effective as of the date of this amendment letter (this "Amendment"), the Supplement is hereby amended as follows:
(a) Section 10(h) is amended, for the period from the date hereof to October 21, 2003 only, by deleting "15.00%" therefrom and substituting "17.00%" therefor.
(b) Section 10 is amended to insert the following clauses (u) and (v) in appropriate alphabetical order therein.
(u) The "Expiration Date" (as defined therein) shall have occurred under the Class A Certificate Purchase Agreement, or such Class A Certificate Purchase Agreement shall for any reason otherwise cease to be in full force and effect; or
(v) An examination of the Trust assets and Servicer's performance, pursuant to Section 5.03 of the Class A Certificate Purchase Agreement, shall not have been performed during the period from August 15, 2003 to October 21, 2003.
This Amendment shall become effective as of the date first above written when, and only when (x) the Program Agent shall have received (i) counterparts of this Amendment executed by the Transferor, the Servicer, the Trustee, Citicorp North America, Inc. and Fleet Securities, Inc., as the sole Managing Agents and Citicorp North America, Inc., as the Program Agent and (ii) the consent and agreement attached hereto executed by the Parent and (y) the Transferor shall have paid to the Program Agent all fees, costs and expenses of the Program Agent in connection with the preparation, execution, delivery and administration of this Amendment (including, without limitation, the reasonable fees and expenses of counsel for the Program Agent).
The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of the Trustee, any Class A Conduit Purchaser, any Class A Committed Purchaser, any Managing Agent or the Program Agent under the Supplement or any related instrument or agreement, nor constitute a waiver of any provision of the Supplement or any related instrument or agreement.
This Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. Delivery of an executed counterpart of a signature page to this Amendment by telecopier shall be effective as delivery of a manually executed counterpart of this Amendment. This Amendment shall be governed by, and construed in accordance with, the laws of the State of New York.
By its execution below, the Transferor confirms that it is the sole Holder of the Exchangeable Transferor Certificate. By their execution below, Citicorp North America, Inc. and Fleet Securities, Inc., as the sole Managing Agents, confirm that (a) their consent (as evidenced by such execution below) to the terms of this Amendment constitutes satisfaction of the Rating Agency Condition for purposes of Series 2001-1-VFC and (b) they are the sole Holders of Series 2001-1-VFC Certificates for the sole benefit of (i) in the case of the Series 2001-1-VFC Certificate held by Citicorp North America, Inc., Corporate Receivables Corporation, Citibank, N.A. and Bank Hapoalim B.M., and (ii) in the case of the Series 2001-1-VFC Certificate held by Fleet Securities, Inc., EagleFunding Capital Corporation and Fleet National Bank.
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]
If you agree to the terms and provisions hereof, please evidence such agreement by executing and returning a counterpart of the attached agreement to this Amendment.
Very truly yours,
STAGE RECEIVABLE FUNDING LP,
as Transferor
By Stage Receivable Mgmt LLC,
its general partner
By: \s\ Richard E. Stasyszen
Name: Richard E. Stasyszen
Title: Manager
SPECIALTY RETAILERS (TX) LP,
as Servicer
By SRI General Partner LLC,
its general partner
By: \s\ Richard E. Stasyszen
Name: Richard E. Stasyszen
Title: Manager
Acknowledged and Agreed:
DEUTSCHE BANK TRUST COMPANY AMERICAS
(formerly known as Bankers Trust Company), not in its individual capacity but solely as the Trustee for Stage Stores Master TrustBy: \s\ Louis Bodi
Name: Louis Bodi
Title: Vice President
CITICORP NORTH AMERICA, INC.,
as Program Agent and as a Managing Agent
By: \s\ David J. Donofrio
Name: David J. Donofrio
Title: Vice President
FLEET SECURITIES, INC.,
as a Managing Agent
By: \s\ Dawn D. Gillette
Name: Dawn D. Gillette
Title: Vice President
CONSENT AND AGREEMENT
Dated as of August 21, 2003
The undersigned, as the Parent under and as defined in the Parent Undertaking Agreement dated as of August 24, 2001 (the "Parent Undertaking"), in favor of the Trustee (as such term is defined in the Supplement), hereby consents and agrees to the foregoing Amendment Letter No. 4 (the "Amendment") and also agrees that notwithstanding the effectiveness of such Amendment, the Parent Undertaking is, and shall continue to be, in full force and effect and is hereby ratified and confirmed in all respects, except that, on and after the effectiveness of such Amendment, each direct or indirect reference in the Parent Undertaking to the Supplement, shall mean and be a reference to the Supplement as modified by such Amendment.
STAGE STORES, INC.
\s\ Richard E. Stasyszen
By: Richard E. Stasyszen
Title: SVP-Finance and Controller
