EXHIBIT 10.6
REAFFIRMATION OF GUARANTY
-------------------------
May 24, 1999
General Electric Capital Corporation, as Agent
▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇▇▇ ▇▇▇▇
▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇
Attn: Wilsons Leather Account Manager
Please refer to (1) the Amended and Restated Credit Agreement dated
the date hereof (the "Amended Credit Agreement"), amending and restating that
certain Credit Agreement dated as of May 25, 1996 among Wilsons Leather Holdings
Inc. ("Borrower"), and the Loan Parties, General Electric Capital Corporation,
individually and as agent ("Agent") and the other lenders signatory thereto; (2)
the Parent Guaranty dated as of May 25, 1996 (as amended, the "Parent
Guaranty"), by certain of the undersigned in favor of Agent on behalf of the
Lenders under the Credit Agreement (3) the Store Guarantors' Guaranty (as
amended, the "Store Guarantors' Guaranty") dated as of May 25, 1996 by certain
of the undersigned in favor of Agent on behalf of the Lenders under the Credit
Agreement, (4) the Joinder Agreement dated July 31, 1997 between Wilsons
International, Inc. and Agent and (5) the Joinder Agreement of even date
herewith between certain of the undersigned and Agent. Pursuant to the Amended
Credit Agreement, Lenders have agreed to make Loans and to incur Letter of
Credit Obligations and Eligible Trade L/C Obligations on behalf of Borrower.
All capitalized terms used but not otherwise defined herein have the meaning
given to them in the Credit Agreement or in Schedule A thereto.
----------
We hereby (i) acknowledge receipt of the Amended Credit Agreement,
(ii) acknowledge and reaffirm all of our obligations and undertakings under the
Parent Guaranty and the Store Guarantors' Guaranty (as applicable)
(collectively, the "Guaranties"), and (iii) acknowledge and agree that
subsequent to, and taking into account such Amended Credit Agreement, the
Guaranties are and shall remain in full force and effect in accordance with the
terms thereof.
PARENTS:
Wilsons The Leather Experts Inc.
Wilsons Center, Inc.
Rosedale Wilsons, Inc.
River Hills Wilsons, Inc.
By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
----------------------------------------
Title: Treasurer
-------------------------------------
The authorized officer of each of the
foregoing corporations
STORE GUARANTORS:
Bermans The Leather Experts Inc.
Wilsons International Inc.
Wilsons Leather of Airports Inc.
Wilsons Leather of Alabama Inc.
Wilsons Leather of Arkansas Inc.
Wilsons Leather of Canada Ltd.
Wilsons Leather of Connecticut Inc.
Wilsons Leather of Delaware Inc.
Wilsons Leather of Florida Inc.
Wilsons Leather of Georgia Inc.
Wilsons Leather of Indiana Inc.
Wilsons Leather of Iowa Inc.
Wilsons Leather of Louisiana Inc.
Wilsons Leather of Maryland Inc.
Wilsons Leather of Massachusetts Inc.
Wilsons Leather of Michigan Inc.
Wilsons Leather of Mississippi Inc.
Wilsons Leather of Missouri Inc.
Wilsons Leather of New Jersey Inc.
Wilsons Leather of New York Inc.
Wilsons Leather of North Carolina Inc.
Wilsons Leather of Ohio Inc.
Wilsons Leather of Pennsylvania Inc.
Wilsons Leather of Rhode Island Inc.
S-1
Wilsons Leather of South Carolina Inc.
Wilsons Leather of Tennessee Inc.
Wilsons Leather of Texas Inc.
Wilsons Leather of Vermont Inc.
Wilsons Leather of Virginia Inc.
Wilsons Leather of West Virginia Inc.
Wilsons Leather of Wisconsin Inc.
By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
--------------------------------------
Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇
------------------------------------
The authorized officer of each of
the foregoing corporations
S-2