EXHIBIT 10.1
AMENDMENT NO. 1
to
5-YEAR REVOLVING CREDIT AGREEMENT
THIS AMENDMENT NO. 1 TO THE 5-YEAR REVOLVING CREDIT AGREEMENT (the
"Amendment") is made as of May 3, 2002 by and among THE TJX COMPANIES, INC. (the
"Borrower"), BANK ONE, NA, in its capacity as contractual representative (the
"Administrative Agent"), FLEET NATIONAL BANK and THE BANK OF NEW YORK, as
syndication agents (the "Syndication Agents") and THE BANK OF NOVA SCOTIA (the
"New Lender") under that certain 5-Year Revolving Credit Agreement dated as of
March 26, 2002 by and among the Borrower, the financial institutions party
thereto, the Administrative Agent, the Syndication Agents and BANK OF AMERICA,
N.A. and JPMORGAN CHASE BANK, as documentation agents (as amended, the "Credit
Agreement"). Defined terms used herein and not otherwise defined herein shall
have the meaning given to them in the Credit Agreement.
WITNESSETH
WHEREAS, the Borrower, the Administrative Agent and the Syndication
Agents are parties to the Credit Agreement; and
WHEREAS, pursuant to SECTION 2.11(d) of the Credit Agreement, the
Borrower has requested that the Aggregate Commitment be increased from
$350,000,000 to $360,000,000;
WHEREAS, the Borrower, the Administrative Agent, the Syndication
Agents and the New Lender have agreed to amend the Credit Agreement to increase
the Aggregate Commitment to $360,000,000, and in connection therewith the New
Lender has agreed to extend a new Commitment in the amount of $10,000,000, in
each case, on the terms and conditions set forth herein;
NOW, THEREFORE, in consideration of the premises set forth above, the
terms and conditions contained herein, and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto have agreed to the following amendment to the Credit Agreement:
1. AMENDMENT TO THE CREDIT AGREEMENT. Effective as of May 3, 2002
(the "Effective Date") and subject to the satisfaction of the conditions
precedent set forth in SECTION 2 below, the Credit Agreement is hereby amended
pursuant to SECTION 2.11(d) thereof to increase the Aggregate Commitment to
$360,000,000, and the Commitment of the New Lender shall be $10,000,000. From
and after the Effective Date, the New Lender shall be deemed to be a Lender for
all purposes under the Credit Agreement.
2. CONDITIONS OF EFFECTIVENESS. The effectiveness of this Amendment
is subject to the conditions precedent that the Administrative Agent shall have
received the following documents:
(a) duly executed originals of this Amendment from each of the Borrower,
the New Lender, the Administrative Agent and the Syndication Agents;
and
(b) duly executed originals of a Reaffirmation in the form of EXHIBIT A
attached hereto.
3. REPRESENTATIONS AND WARRANTIES OF THE BORROWER. The Borrower
hereby represents and warrants as follows:
3.1. This Amendment and the Credit Agreement as previously executed and as
amended hereby, constitute legal, valid and binding obligations of the
Borrower and are enforceable against the Borrower in accordance with
their terms (except as enforceability may be limited by bankruptcy,
insolvency or similar laws affecting the enforcement of creditor's
rights generally).
3.2. Upon the effectiveness of this Amendment and after giving effect
hereto, (i) the Borrower hereby reaffirms that all representations and
warranties contained in Article V of the Credit Agreement are correct
in all material respects, as though made on and as of the date hereof
(other than the representation and warranty set forth in Section 5.5
of the Credit Agreement, which shall only be made by the Borrower as
of the date of the Credit Agreement), except to the extent any such
representation or warranty is stated to relate solely to an earlier
date, in which case such representation or warranty shall be true and
correct on and as of such earlier date and (ii) no Default or
Unmatured Default has occurred and is continuing.
4. REFERENCE TO THE EFFECT ON THE CREDIT AGREEMENT.
4.1. Upon the effectiveness of SECTION 1 hereof, on and after the date
hereof, each reference in the Credit Agreement or in any other Loan
Document (including any reference therein to "this Credit Agreement,"
"hereunder," "hereof," "herein" or words of like import referring
thereto) shall mean and be a reference to the Credit Agreement as
amended hereby.
4.2. Except as specifically amended above, the Credit Agreement and all
other documents, instruments and agreements executed and/or delivered
in connection therewith, shall remain in full force and effect, and
are hereby ratified and confirmed.
4.3. The execution, delivery and effectiveness of this Amendment shall not
operate as a waiver of any right, power or remedy of the
Administrative Agent or the Lenders, nor constitute a waiver of any
provision of the Credit Agreement or any other documents, instruments
and agreements executed and/or delivered in connection therewith.
5. GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED
IN ACCORDANCE WITH THE INTERNAL LAWS (INCLUDING 735 ILCS 105/5-1 ET SEQ., BUT
OTHERWISE WITHOUT REGARD TO THE CONFLICT OF LAW PROVISIONS) OF THE STATE OF
ILLINOIS.
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6. HEADINGS. Section headings in this Amendment are included herein
for convenience of reference only and shall not constitute a part of this
Amendment for any other purpose.
7. COUNTERPARTS. This Amendment may be executed by one or more of
the parties to the Amendment on any number of separate counterparts and all of
said counterparts taken together shall be deemed to constitute one and the same
instrument.
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IN WITNESS WHEREOF, this Amendment has been duly executed as of the
day and year first above written.
THE TJX COMPANIES, INC., as the Borrower
By: /s/ Mary B. Reynolds
-------------------------------------------
Name: Mary B. Reynolds
Title: Vice President - Finance and Treasurer
BANK ONE, NA (Main Office Chicago), as
Administrative Agent
By: /s/ Vincent R. Henchek
-------------------------------------------
Name: Vincent R. Henchek
Title: Director
THE BANK OF NEW YORK, as a Syndication Agent
By: /s/ Charlottee Sohn Fuiks
-------------------------------------------
Name: Charlottee Sohn Fuiks
Title: Vice President
FLEET NATIONAL BANK, as a Syndication Agent
By: /s/ Linda Alto
-------------------------------------------
Name: Linda Alto
Title: Director
THE BANK OF NOVA SCOTIA
By: /s/ M.R. Bradley
-------------------------------------------
Name: M. R. Bradley
Title: Authorized Signatory
EXHIBIT A
REAFFIRMATION
Each of the undersigned hereby acknowledges receipt of a copy of the
foregoing Amendment No. 1 to the 5-Year Revolving Credit Agreement dated as of
March 26, 2002 by and among The TJX Companies, Inc. (the "Borrower"), the
financial institutions from time to time party thereto (the "Lenders"), Bank
One, NA, in its individual capacity as a Lender and in its capacity as
contractual representative (the "Administrative Agent"), FLEET NATIONAL BANK and
THE BANK OF NEW YORK, as syndication agents (the "Syndication Agents"), and BANK
OF AMERICA, N.A. and JPMORGAN CHASE BANK, as documentation agents (as the same
may be amended, restated, supplemented or otherwise modified from time to time,
the "Credit Agreement"), which Amendment No. 1 is dated as of May 3, 2002 (the
"Amendment"). Capitalized terms used in this Reaffirmation and not defined
herein shall have the meanings given to them in the Credit Agreement. Without in
any way establishing a course of dealing by the Administrative Agent, the
Syndication Agents or any Lender, each of the undersigned reaffirms the terms
and conditions of the Facility Guaranty and any other Loan Document executed by
it and acknowledges and agrees that such agreement and each and every such Loan
Document executed by the undersigned in connection with the Credit Agreement
remains in full force and effect and is hereby reaffirmed, ratified and
confirmed. All references to the Credit Agreement contained in the
above-referenced documents shall be a reference to the Credit Agreement as so
modified by the Amendment and as the same may from time to time hereafter be
amended, modified or restated.
Dated: May 3, 2002
T.J. MAXX OF CA, LLC MARSHALLS OF CA, LLC
T.J. MAXX OF IL, LLC MARSHALLS OF IL, LLC
MARMAXX OPERATING CORP. NBC TRUST
MARSHALLS OF MA, INC.
NBC OPERATING, LLC
MARSHALLS OF RICHFIELD, MN, INC. By: /s/ Mary B. Reynolds
NEWTON BUYING COMPANY OF CA, INC. -------------------------------
Name: Mary B. Reynolds
Title: Vice President and Treasurer
By: /s/ Mary B. Reynolds
------------------------------
Name: Mary B. Reynolds NBC FOURTH REALTY CORP.
Title: Treasurer MARSHALL'S OF NEVADA, INC.
By: /s/ Mary B. Reynolds
------------------------------------
Name: Mary B. Reynolds
Title: Vice President, Treasurer and
Secretary