FORBEARANCE AGREEMENTForbearance Agreement • July 1st, 2015 • Joe's Jeans Inc. • Apparel & other finishd prods of fabrics & similar matl • New York
This FORBEARANCE AGREEMENT (this “Agreement”), dated as of June 26, 2015 is entered into by (i) JOE’S JEANS SUBSIDIARY, INC., a Delaware corporation (“Joe’s”), and HUDSON CLOTHING, LLC, a California limited liability company (“Hudson” and together with Joe’s the “Borrowers”, and each a “Borrower”), JOE’S JEANS INC., a Delaware corporation (“Parent”), JOE’S JEANS RETAIL SUBSIDIARY, INC., a California corporation, INNOVO WEST SALES, INC., a Texas corporation, HC ACQUISITION HOLDINGS, INC., a Delaware corporation, HUDSON CLOTHING HOLDINGS, INC., a Delaware corporation (the “Guarantors” and collectively, with Joe’s, Hudson, and Parent, the “Loan Parties”), (ii) the lenders party hereto (each, a “Lender’’ and collectively, ‘‘Lenders’’) and (iii) GARRISON LOAN AGENCY SERVICES LLC (as administrative agent and collateral agent for the Lenders (in such capacity, “Agent”).
