ASSET PURCHASE AGREEMENT by and among Hooker Furniture Corporation, as Buyer and Shenandoah Furniture, Inc., as Seller and Gideon C. Huddle and Candace H. Payne, as Shareholders Dated September 6, 2017Asset Purchase Agreement • September 29th, 2017 • Hooker Furniture Corp • Household furniture • Virginia
This Asset Purchase Agreement (“Agreement”) is dated September 6, 2017, by and among Hooker Furniture Corporation, a Virginia corporation (“Buyer”); Shenandoah Furniture, Inc., a Virginia corporation (“Seller”); Gideon C. Huddle, a resident of the Commonwealth of Virginia (“G.C. Huddle”); and Candace H. Payne, a resident of the State of North Carolina (“C.H. Payne”) (G.C. Huddle and C.H. Payne are referred to herein as “Shareholders”).
SECOND AMENDED AND RESTATED LOAN AGREEMENTLoan Agreement • September 29th, 2017 • Hooker Furniture Corp • Household furniture
The Borrowers and the Bank are parties to an Amended and Restated Loan Agreement dated as of February 1, 2016, as amended (the “Prior Loan Agreement”), pursuant to which the Bank has made the following credit facilities available to the Borrowers: (i) a revolving credit facility in a principal amount not to exceed $30,000,000, (ii) an acquisition term loan in an original principal amount of $41,000,000, and (iii) a term loan in an original principal amount of $19,000,000.
