EXHIBIT 10.1
FIRST AMENDMENT TO CREDIT AGREEMENT AND RATIFICATION OF GUARANTY
THIS FIRST AMENDMENT TO CREDIT AGREEMENT AND RATIFICATION OF GUARANTY
(this "First Amendment"), dated as of November 30, 2001, among Gaylord
Entertainment Company, a Delaware corporation ("Borrower"), Opryland
Hotel-Florida Limited Partnership ("Co-Borrower"), the undersigned guarantors
(each a "Guarantor and collectively, the "Guarantors"), Bankers Trust Company
("Administrative Agent"), and Bankers Trust Company, Citicorp Real Estate, Inc.
and CIBC Inc. (collectively, the "Lenders");
WITNESSETH:
WHEREAS, Borrower, Co-Borrower, the Administrative Agent and
the Lenders entered into that certain Credit Agreement dated as of October 9,
2001 (the "Credit Agreement");
WHEREAS, Borrower, Co-Borrower and the Lenders desire to
amend the Credit Agreement as set forth in this First Amendment.
NOW, THEREFORE, in consideration of the foregoing, and for
other valuable consideration the receipt and sufficiency of which are hereby
acknowledged, the parties hereto, intending to be legally bound, agree as
follows:
1. Schedule 2 of the Credit Agreement is hereby amended and
restated in its entirety to read as follows:
SCHEDULE 2
COMMITMENTS
LENDER COMMITMENT
-------------------------- --------------
Bankers Trust Company $77,714,286.00
Citicorp Real Estate, Inc. $77,714,286.00
CIBC Inc. $48,571,428.00
2. The address of Bankers Trust Company, as Administrative Agent
and Lender, is hereby amended to read as follows:
31 West 52nd Street, 7th Floor
Mail Stop NYC01-0701
New York, NY 10019
Tel.: (646) 324-2112
Fax: (646) 324-7450
Attention: George R. Reynolds
3. The address of Citicorp Real Estate, Inc. is hereby amended
to read as follows:
390 Greenwich Street
New York, New York 10013
Attention: David Hirsh
4. As amended hereby, the Credit Agreement remains in full force
and effect and is hereby ratified and confirmed in all respects, it being
understood that the Administrative Agent and the Lenders hereby expressly
reserve all of their rights and remedies under the Credit Agreement, as amended
hereby, including, without limitation, their rights and remedies under Section
2.20.4 thereof with respect to any Out of Balance Condition (as defined
therein) that may exist by reason of this First Amendment.
5. By signing below, each of the Guarantors (as defined in the
Credit Agreement) (a) acknowledges, consents and agrees to the execution and
delivery by Borrower and Co-Borrower of this First Amendment; (b) ratifies and
confirms its obligations under the Guaranty (as defined in the Credit
Agreement), which remains unmodified and in full force and effect; (c)
acknowledges and agrees that its obligations under the Guaranty are not
released, diminished, waived, modified, impaired or affected in any manner by
this First Amendment; (d) represents and warrants that it has received and
reviewed this First Amendment; and (e) acknowledges and agrees that it has no
claims or offsets against, or defenses or counterclaims to, the Guaranty as a
result of this First Amendment or otherwise.
6. This First Amendment may not be amended, modified or
otherwise changed in any manner except by a writing executed by all of the
parties hereto.
7. This First Amendment shall be governed by, and construed in
accordance with, the laws of the State of New York.
8. This First Amendment may be signed in any number of
counterparts by the parties hereto, all of which taken together shall
constitute one and the same instrument.
[SIGNATURE PAGES FOLLOW IMMEDIATELY]
2
IN WITNESS WHEREOF, Borrower, Co-Borrower, Administrative Agent,
Lenders and Guarantors have executed this First Amendment as of the date first
above written.
BORROWER:
GAYLORD ENTERTAINMENT COMPANY
By:
--------------------------------------
Name:
Title:
CO-BORROWER:
OPRYLAND HOTEL - FLORIDA
LIMITED PARTNERSHIP, a Florida limited
partnership
By: Opryland Hospitality, LLC, its
general partner
By: Gaylord Entertainment Company, its
sole member
By:
--------------------------------------
Name:
Title:
3
LENDERS:
BANKERS TRUST COMPANY, Individually
and as Administrative Agent
By:
--------------------------------------
Name:
Title:
CITICORP REAL ESTATE, INC.
By:
--------------------------------------
Name:
Title:
CIBC INC.
By:
--------------------------------------
Name:
Title:
GUARANTORS:
COUNTRY MUSIC TELEVISION
INTERNATIONAL, INC., a Delaware
corporation
By:
--------------------------------------
Name:
Title:
ACUFF-ROSE MUSIC PUBLISHING, INC.,
a Tennessee corporation
By:
--------------------------------------
Name:
Title:
4
ACUFF-ROSE MUSIC, INC., a Tennessee
corporation
By:
--------------------------------------
Name:
Title:
By:
--------------------------------------
Name:
Title:
GAYLORD CREATIVE GROUP, INC., a
Delaware corporation
By:
--------------------------------------
Name:
Title:
GAYLORD PROGRAM SERVICES, INC., a
Delaware corporation
By:
--------------------------------------
Name:
---------------------------------
Title:
--------------------------------
WILDHORSE SALOON ENTERTAINMENT
VENTURES, INC., a Tennessee corporation
By:
--------------------------------------
Name:
---------------------------------
Title:
--------------------------------
5
OPRYLAND HOSPITALITY, LLC, a
Tennessee limited liability company
By: Gaylord Entertainment Company, a
Delaware Corporation, its sole member
By:
--------------------------------------
Name:
---------------------------------
Title:
--------------------------------
MILENE MUSIC, INC., a Tennessee
corporation
By:
--------------------------------------
Name:
---------------------------------
Title:
--------------------------------
SPRINGHOUSE MUSIC, INC., a Tennessee
corporation
By:
--------------------------------------
Name:
---------------------------------
Title:
--------------------------------
OPRYLAND THEATRICALS, INC., a
Delaware corporation
By:
--------------------------------------
Name:
---------------------------------
Title:
--------------------------------
6
OPRYLAND HOTEL-TEXAS, LIMITED
PARTNERSHIP, a Delaware limited
partnership
By: Opryland Hospitality, LLC, its
general partner
By: Gaylord Entertainment Company,
its sole member
By:
----------------------------------
Name:
-----------------------------
Title:
----------------------------
OPRYLAND HOTEL-TEXAS, LLC, a Delaware
limited liability company
By: Gaylord Entertainment Company, its
sole member
By:
--------------------------------------
Name:
---------------------------------
Title:
--------------------------------
OPRYLAND PRODUCTIONS, INC., a Tennessee
corporation
By:
--------------------------------------
Name:
---------------------------------
Title:
--------------------------------
OPRYLAND ATTRACTIONS, INC., a Delaware
corporation
By:
--------------------------------------
Name:
---------------------------------
Title:
--------------------------------
7
HICKORY RECORDS, INC., a Tennessee
corporation
By:
--------------------------------------
Name:
---------------------------------
Title:
-------------------------------
CORPORATE MAGIC, INC., a Texas
corporation
By:
--------------------------------------
Name:
---------------------------------
Title:
--------------------------------
CCK, INC., a Texas corporation
By:
--------------------------------------
Name:
---------------------------------
Title:
--------------------------------
GAYLORD INVESTMENTS, INC., a Delaware
corporation
By:
--------------------------------------
Name:
---------------------------------
Title:
--------------------------------
GRAND OLE OPRY TOURS, INC., a Tennessee
corporation
By:
--------------------------------------
Name:
---------------------------------
Title:
--------------------------------
8