On Delta Apparel, Inc. and its subsidiaries, M.J. Soffe, LLC, Culver City Clothing Company (f/k/a Junkfood Clothing Company), Salt Life, LLC, and LLC (f/k/a Art Gun, LLC) entered into a Fourth Amendment to Fifth Amended and Restated Credit Agreement with Wells Fargo Bank and the other lenders set forth therein (the “Fourth Amendment”).

 

The Fifth Amended and Restated Credit Agreement, dated as of was filed as Exhibit to Delta Apparel’s Quarterly Report on Form -Q filed with the SEC on The First Amendment to the Amended Credit Agreement was filed as Exhibit to Delta Apparel’s Annual Report on Form -K filed with the SEC on The Consent and Second Amendment to the Amended Credit Agreement was filed as Exhibit to Delta Apparel’s Form -K filed with the SEC on The Consent and Third Amendment to the Amended Credit Agreement was filed as Exhibit to Delta Apparel’s Form -K filed with the SEC on

 

The Fourth Amendment, among other things, (i) increases the borrowing capacity under the Amended Credit Agreement from million to million (subject to borrowing base limitations), (ii) extends the maturity date from to iii) reduces pricing on the revolver and -in last-out “FILO” borrowing components by basis points, and (iv) adds of the fair market value of eligible intellectual property to the borrowing base calculation. In addition, the Fourth Amendment amends the definition of Fixed Charge Coverage Ratio to exclude up to million of capital expenditures incurred by the Borrowers in connection with the expansion of their distribution facility located within the Town of Clinton, Anderson County, Tennessee.