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[LOGO] BANK OF AMERICA AMENDMENT TO DOCUMENTS
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AMENDMENT NO. 2 TO BUSINESS LOAN AGREEMENT
This Amendment No. 2 (the "Amendment") dated as of June 12, 1998, is
between BANK OF AMERICA NATIONAL TRUST AND SAVINGS ASSOCIATION (the "Bank")
and THE WET SEAL, INC. (the "Borrower").
RECITALS
A. The Bank and the Borrower entered into a certain Business Loan
Agreement dated as of March 9, 1998, as previously amended (the "Agreement").
B. The Bank and the Borrower desire to further amend the Agreement.
AGREEMENT
1. DEFINITIONS. Capitalized terms used but not defined in this
Amendment shall have the meaning given to them in the Agreement.
2. AMENDMENTS. The Agreement is hereby amended as follows:
2.1 Paragraph 1.1(a) of the Agreement is amended to read in its
entirety as follows:
"(a) During the availability period described below, the Bank
will provide a line of credit ("Facility No. 1") to the
Borrower. The amount of the line of credit (the "Facility
No. 1 Commitment") is equal to the amount indicated for each
period set forth below:
Period Amount
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From the date hereof through $40,000,000
March 31, 1999
From April 1, 1999 and thereafter $30,000,000"
3. CONDITIONS. This Amendment will be effective when the Bank receives
the following items, in form and content acceptable to the Bank:
3.1 A guaranty signed by WSCC Buying Group, Inc. in the amount of
Forty Five Million Dollars ($45,000,000).
3.2 A Corporate Resolution to Obtain Credit executed by the
Borrower in the amount of Forty Five Million Dollars
($45,000,000).
3.3 A Form U-1 Purpose Statement executed by the Borrower.
3.4 A Corporate Resolution Authorizing Execution of Guaranty
executed by WSCC Buying Group, Inc. in the amount of Forty
Five Million Dollars ($45,000,000).
4. EFFECT OF AMENDMENT. Except as provided in this Amendment, all of
the terms and conditions of the Agreement shall remain in full force and
effect.
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This Amendment is executed as of the date stated at the beginning of
this Amendment.
BANK OF AMERICA
NATIONAL TRUST AND SAVINGS ASSOCIATION THE WET SEAL, INC.
X /s/ ▇▇▇▇▇ ▇. ▇▇▇▇ X /s/ ▇▇▇ ▇▇▇▇▇▇ ▇▇▇
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BY: ▇▇▇▇▇ ▇. ▇▇▇▇, VICE PRESIDENT BY: ▇▇▇ ▇▇▇▇▇▇ ▇▇▇
TITLE: VICE PRESIDENT OF FINANCE
& CFO
X /s/ ▇▇ ▇▇▇▇▇▇
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BY: ▇▇ ▇▇▇▇▇▇
TITLE: PRESIDENT AND CHIEF
OPERATIONS Officer
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