EX-10.13 3 dex1013.htm EXHIBIT 10.13 -- LENDER JOINDER AND ASSUMPTION AGREEMENT Exhibit 10.13 -- Lender Joinder and Assumption Agreement

Exhibit 10.13

LENDER JOINDER AND ASSUMPTION AGREEMENT

THIS LENDER JOINDER AND ASSUMPTION AGREEMENT (this “Joinder”) is made as of February 13, 2009 (the “Effective Date”) by Manufacturers and Traders Trust Company, (the “Additional Lender”).

Background

Reference is made to the Credit Agreement dated as of January 28, 2009 among Under Armour, Inc., a Maryland corporation (the “Borrower”), each of the Guarantors party thereto, the Lenders party thereto, PNC Bank, National Association, as administrative agent (the “Administrative Agent”), SunTrust Bank, as Syndication Agent, and Compass Bank, as Documentation Agent (as the same has been and may hereafter be modified, supplemented, amended or restated from time to time, the “Credit Agreement”). Capitalized terms defined in the Credit Agreement are used herein as defined therein.

Agreement

In consideration of the Lenders’ permitting the Additional Lender to become a Lender under the Credit Agreement to provide a Post-Closing Loan pursuant to Section 2.4 of the Credit Agreement, the Additional Lender agrees that effective as of the Effective Date hereof it shall become, and shall be deemed to be, a Lender under the Credit Agreement and each of the other Loan Documents and agrees that from the Effective Date hereof and so long as the Additional Lender remains a party to the Credit Agreement, such Additional Lender shall assume the obligations of a Lender under and perform, comply with and be bound by each of the provisions of the Credit Agreement which are stated to apply to a Lender and shall be entitled to the benefits, rights and remedies set forth therein and in each of the other Loan Documents. The Additional Lender hereby acknowledges that it has heretofore received a true and correct copy of the Credit Agreement (including any modifications thereof or supplements or waivers thereto) as in effect on the Effective Date hereof and the executed original of its Note dated the Effective Date hereof issued by the Borrower under the Credit Agreement in the face amount of $20,000,000.

The Commitments and Ratable Shares of the Additional Lender and each of the other Lenders are as set forth on Schedule 1.1(B) to the Credit Agreement. Schedule 1.1(B) to the Credit Agreement is being amended and restated effective as of the Effective Date hereof to read as set forth on Schedule 1.1(B) hereto. Schedule 1 hereto lists as of the date hereof the amount of Loans under each outstanding Borrowing Tranche. Notwithstanding the foregoing, on the date hereof, the Borrower shall repay all outstanding Loans to which either the Base Rate Option or the LIBOR Rate Option applies and simultaneously reborrow a like amount of Loans under each such Interest Rate Option from the Lenders (including the Additional Lender) according to the Ratable Shares set forth on attached Schedule 1.1(B) and shall be subject to breakage fees and other indemnities provided in Section 4.12 [Indemnity].


The Additional Lender is executing and delivering this Joinder as of the Effective Date and acknowledges that it shall: (A) share ratably in all Loans subject to the Base Rate Option borrowed by the Borrower on and after the Effective Date hereof; and (B) participate in all new Loans subject to the LIBOR Rate Option borrowed by the Borrower on and after the Effective Date hereof according to its Ratable Share.

The remainder of this page is left blank intentionally.

Signatures follow on next page.

 

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[SIGNATURE PAGE TO LENDER JOINDER AND ASSUMPTION AGREEMENT]

IN WITNESS WHEREOF, the Additional Lender has duly executed and delivered this Joinder as of the Effective Date hereof.

 

MANUFACTURERS AND TRADERS TRUST COMPANY
By:  

/s/ Glenn A. Page

Name:   Glenn A. Page
Title:   Vice President


[ACKNOWLEDGEMENT PAGE TO LENDER JOINDER AND ASSUMPTION AGREEMENT]

 

ACKNOWLEDGED:  

PNC BANK, NATIONAL ASSOCIATION,

as Administrative Agent

 
By:  

/s/ John Hehir

 
Name:   John Hehir  
Title:   Senior Vice President, Corporate Banking  
UNDER ARMOUR, INC., as Borrower  
By:  

/s/ Brad Dickerson

  (SEAL)
Name:   Brad Dickerson  
Title:   Chief Financial Officer  


SCHEDULE 1.1 (B)

COMMITMENTS OF LENDERS

Revised Schedule 1.1(B) to Credit Agreement attached.


SCHEDULE 1.1(B)

COMMITMENTS OF LENDERS AND ADDRESSES FOR NOTICES

Part 1 - Commitments of Lenders and Addresses for Notices to Lenders

 

Lender

        Amount of
Commitment
for Revolving
Credit

Loans
   Ratable
Share
 
Name: PNC Bank, National Association    $ 50,000,000    25 %
Address: The PNC Financial Services Group      
2 Hopkins Plaza, 21st Floor      
Baltimore, MD 21201      
Attention: John E. Hehir      
Telephone:   (410) 237 4573      
Telecopy:   (410) 237 5700      
E-Mail:   John.Hehir@PNC.com      
Name: SunTrust Bank    $ 40,000,000    20 %
Address: 120 East Baltimore St., 25th Fl.      
Baltimore, MD 21202      
Attention: Gregory A. Farno      
Telephone:   (410) 986-1673      
Telecopy:   (410)986-1920      
E-Mail:   gregory.farno@suntrust.com      
Name: Compass Bank    $ 40,000,000    20 %
Address: 1340 Smith Avenue, Suite 200      
Baltimore, MD 21209      
Attention: Mike Williams      
Telephone:   (410) 779-1215      
Telecopy:   (410) 779-1310      
E-Mail:   mike.williams@compassbank.com      


Name: Bank of America, N.A.

   $ 25,000,000    12.5 %

Address: 100 S. Charles Street

     

Baltimore, MD 21201

     

Attention: Mary Giermek

     

Telephone:

 

(410) 547-4262

     

Telecopy:

 

(410) 539-1454

     

E-Mail:

 

mary.giermek@bankofamerica.com

     

Name: Branch Banking & Trust Company

   $ 25,000,000    12.5 %

Address: 8200 Greensboro Dr., Suite 800

     

McLean, VA 22102

     

Attention: James E. Davis

     

Telephone:

 

(703) 442-5561

     

Telecopy:

 

(703) 442-5544

     

E-Mail:

 

JEDavis@bbandt.com

     

Name: Manufacturers and Traders Trust Company

   $ 20,000,000    10 %

Address: 6395 Dobbin Road, Suite 106

     

Columbia, MD 21045

     

Attention: Glenn A. Page

     

Telephone:

 

(410) 964-6823

     

Telecopy:

 

(410) 964-6819

     

E-Mail:

 

gpage@mtb.com

     

Total

   $ 200,000,000    100 %


SCHEDULE 1.1(B)

COMMITMENTS OF LENDERS AND ADDRESSES FOR NOTICES

Part 2 - Addresses for Notices to Borrower, Guarantors and Administrative Agent:

ADMINISTRATIVE AGENT

Name: PNC Bank, National Association

Agency Services

Mail Stop: P7-PFSC-04-I

Address: 500 First Avenue

Pittsburgh, PA 15219

Telephone:   (412) 762-6442
Telecopy:   (412) 762-8672

and

Name: PNC Bank, National Association

Address: The PNC Financial Services Group

2 Hopkins Plaza, 21st Floor

Baltimore, MD 21201

Attention: John E. Hehir

Telephone:   (410) 237 4573
Telecopy:   (410) 237 5700
E-Mail:   John.Hehir@PNC.com

BORROWER:

Name: Under Armour, Inc.

Address: 1020 Hull Street

Baltimore, MD 21230

Attention: Chief Financial Officer

Telephone:   (410) 454-6653
Telecopy:   (410) 234-1911
E-Mail:   bdickerson@underarmour.com


GUARANTORS:

Name: Under Armour Manufacturing, LLC

Address: 1020 Hull Street

Baltimore, MD 21230

Attention: Chief Financial Officer

Telephone:   (410) 454-6653
Telecopy:   (410) 234-1911
E-Mail:   bdickerson@underarmour.com

Name: Under Armour Retail, Inc.

Address: 1020 Hull Street

Baltimore, MD 21230

Attention: Chief Financial Officer

Telephone:   (410) 454-6653
Telecopy:   (410) 234-1911
E-Mail:   bdickerson@underarmour.com

Name: Under Armour Holdings, Inc.

Address: 1020 Hull Street

Baltimore, MD 21230

Attention: Chief Financial Officer

Telephone:   (410) 454-6653
Telecopy:   (410) 234-1911
E-Mail:   bdickerson@underarmour.com

Name: Under Armour Retail of Texas, LLC

Address: 1020 Hull Street

Baltimore, MD 21230

Attention: Chief Financial Officer

Telephone:   (410) 454-6653
Telecopy:   (410) 234-1911
E-Mail:   bdickerson@underarmour.com

Name: Under Armour Retail of Ohio, LLC

Address: 1020 Hull Street

Baltimore, MD 21230

Attention: Chief Financial Officer

Telephone:   (410) 454-6653
Telecopy:   (410) 234-1911
E-Mail:   bdickerson@underarmour.com


Name: Under Armour Retail of Maryland, LLC

Address: 1020 Hull Street

Baltimore, MD 21230

Attention: Chief Financial Officer

Telephone:   (410) 454-6653
Telecopy:   (410) 234-1911
E-Mail:   bdickerson@underarmour.com

Name: Under Armour Retail of Florida, LLC

Address: 1020 Hull Street

Baltimore, MD 21230 Attention: Chief Financial Officer

Telephone:   (410) 454-6653
Telecopy:   (410) 234-1911
E-Mail:   bdickerson@underarmour.com

Name: Under Armour Retail of Virginia, LLC

Address: 1020 Hull Street

Baltimore, MD 21230

Attention: Chief Financial Officer

Telephone:   (410) 454-6653
Telecopy:   (410) 234-1911
E-Mail:   bdickerson@underarmour.com

Name: Under Armour Retail of California, LLC

Address: 1020 Hull Street

Baltimore, MD 21230

Attention: Chief Financial Officer

Telephone:   (410) 454-6653
Telecopy:   (410) 234-1911
E-Mail:   bdickerson@underarmour.com

Name: Under Armour Retail of Wisconsin, LLC

Address: 1020 Hull Street

Baltimore, MD 21230

Attention: Chief Financial Officer

Telephone:   (410) 454-6653
Telecopy:   (410) 234-1911
E-Mail:   bdickerson@underarmour.com


Name: Under Armour Retail of Massachusetts, LLC

Address: 1020 Hull Street

Baltimore, MD 21230

Attention: Chief Financial Officer
Telephone:   (410) 454-6653
Telecopy:   (410) 234-1911

E-Mail:

  bdickerson@underarmour.com

Name: Under Armour Retail of New York, LLC

Address: 1020 Hull Street

Baltimore, MD 21230

Attention: Chief Financial Officer

Telephone:

  (410) 454-6653

Telecopy:

  (410) 234-1911

E-Mail:

  bdickerson@underarmour.com

Name: Under Armour Retail of New Jersey, LLC

Address: 1020 Hull Street

Baltimore, MD 21230

Attention: Chief Financial Officer

Telephone:

  (410) 454-6653

Telecopy:

  (410) 234-1911

E-Mail:

  bdickerson@underarmour.com

Name: Under Armour Retail of Georgia, LLC

Address: 1020 Hull Street

Baltimore, MD 21230

Attention: Chief Financial Officer

Telephone:

  (410) 454-6653

Telecopy:

  (410) 234-1911

E-Mail:

  bdickerson@underarmour.com

Name: Under Armour Retail of Pennsylvania, LLC

Address: 1020 Hull Street

Baltimore, MD 21230

Attention: Chief Financial Officer

Telephone:   (410) 454-6653
Telecopy:   (410) 234-1911
E-Mail:   bdickerson@underarmour.com


Name: Under Armour Retail of DC, LLC

Address: 1020 Hull Street

Baltimore, MD 21230

Attention: Chief Financial Officer

Telephone:   (410) 454-6653
Telecopy:   (410) 234-1911
E-Mail:   bdickerson@underarmour.com

Name: Under Armour Retail of Delaware, LLC

Address: 1020 Hull Street

Baltimore, MD 21230

Attention: Chief Financial Officer

Telephone:   (410) 454-6653
Telecopy:   (410) 234-1911
E-Mail:   bdickerson@underarmour.com

Name: Under Armour Retail of Connecticut, LLC

Address: 1020 Hull Street

Baltimore, MD 21230

Attention: Chief Financial Officer

Telephone:   (410) 454-6653
Telecopy:   (410) 234-1911
E-Mail:   bdickerson@underarmour.com

Name: Under Armour Retail of Illinois, LLC

Address: 1020 Hull Street

Baltimore, MD 21230

Attention: Chief Financial Officer

Telephone:   (410) 454-6653
Telecopy:   (410) 234-1911
E-Mail:   bdickerson@underarmour.com

Name: Under Armour Retail of South Carolina, LLC

Address: 1020 Hull Street

Baltimore, MD 21230

Attention: Chief Financial Officer

Telephone:   (410) 454-6653
Telecopy:   (410) 234-1911
E-Mail:   bdickerson@underarmour.com


Name: Under Armour Retail of Michigan, LLC

Address: 1020 Hull Street

Baltimore, MD 21230

Attention: Chief Financial Officer

Telephone:   (410) 454-6653
Telecopy:   (410) 234-1911
E-Mail:   bdickerson@underarmour.com

Name: Under Armour Retail of Maine, LLC

Address: 1020 Hull Street

Baltimore, MD 21230

Attention: Chief Financial Officer

Telephone:   (410) 454-6653
Telecopy:   (410) 234-1911
E-Mail:   bdickerson@underarmour.com

Name: Under Armour Retail of Tennessee, LLC

Address: 1020 Hull Street

Baltimore, MD 21230

Attention: Chief Financial Officer

Telephone:   (410) 454-6653
Telecopy:   (410) 234-1911
E-Mail:   bdickerson@underarmour.com


SCHEDULE 1

TO

LENDER JOINDER AND ASSUMPTION AGREEMENT

OUTSTANDING TRANCHES

None.