Joinder Agreement to Store Guarantors' Guaranty among New Store Guarantors and General Electric Capital Corporation

Summary

This agreement, dated October 31, 2000, adds El Portal Group, Inc., WWT, Inc., and Travelsupplies.com, LLC as new guarantors to an existing guaranty agreement related to a credit facility for Wilsons Leather Holdings Inc. The new guarantors agree to guarantee the borrower's obligations under the original Store Guarantors' Guaranty and to be bound by its terms as if they were original signatories. The agreement is made with General Electric Capital Corporation, acting as agent for the lenders.

EX-10.4 5 0005.txt JOINDER AGREEMENT Exhibit 10.4 JOINDER AGREEMENT ----------------- This Joinder Agreement is dated as of October 31, 2000, by and between the Store Guarantors that are signatory hereto (the "New Store Guarantors") and General Electric Capital Corporation, a New York corporation ("Agent"). WHEREAS, Agent, certain Lenders signatories thereto, Wilsons Leather Holdings Inc., a Minnesota corporation ("Borrower") and certain Loan Parties that are Affiliates of Borrower are parties to a Credit Agreement dated as of May 25, 1996 (as amended and restated as of May 24, 1999 and further amended and restated as of Ocober 31, 2000 and as the same may be further amended, restated, supplemented or otherwise modified from time to time, the "Credit Agreement"); WHEREAS, certain Credit Parties, designated as Store Guarantors, entered into a Store Guarantors' Guaranty dated as of May 25, 1996 (as the same may be amended, restated, supplemented or otherwise modified from time to time, the "Store Guarantors' Guaranty"), a copy of which is attached hereto as EXHIBIT A; WHEREAS, under the terms of the Credit Agreement and the other Loan Documents, Subsidiaries of Ultimate Parent are required to guarantee the Obligations of Borrower; and WHEREAS, the New Store Guarantors derive direct and indirect benefits from the Loans and other financial accommodations provided by Agent and Lenders to Borrower; NOW, THEREFORE, for and in consideration of the benefits and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 1. JOINDER IN GUARANTY. The New Store Guarantors hereby guarantee payment and performance of the Obligations in accordance with the terms of the Store Guarantors' Guaranty, which is incorporated herein by reference. 2. GENERAL. The New Store Guarantors agree to comply with and be bound by the terms of the Store Guarantors' Guaranty as fully as if they had been a signatory thereto on the date that such documents were originally executed and delivered by the other Credit Parties that are parties thereto. 3. DEFINED TERMS. Except as otherwise defined herein, all defined terms herein shall have the respective meanings ascribed thereto in SCHEDULE A to the Credit Agreement. IN WITNESS WHEREOF, the parties hereto have executed and delivered this Joinder Agreement as of the date set forth above. GENERAL ELECTRIC CAPITAL CORPORATION By: /s/ GEOFFREY K. HALL ------------------------------------- Name: GEOFFREY K. HALL ----------------------------------- Title: DULY AUTHORIZED SIGNATORY ---------------------------------- STORE GUARANTORS: EL PORTAL GROUP, INC. By: /S/ DANIEL R. THORSON ------------------------------------- Name: DANIEL R. THORSON ----------------------------------- Title: TREASURER ---------------------------------- WWT, INC. By: /s/ DANIEL R. THORSON ------------------------------------- Name: DANIEL R. THORSON ----------------------------------- Title: TREASURER ---------------------------------- TRAVELSUPPLIES.COM, LLC By: /s/ DANIEL R. THORSON ------------------------------------- Name: DANIEL R. THORSON ----------------------------------- Title: TREASURER ---------------------------------- 2 Exhibit 10.4 EXHIBIT A --------- STORE GUARANTORS' GUARANTY