Case 18-10248-MFW

Doc 632-1

Filed 04/18/18

Page 2 of 60

 

 

This Agency Agreement (“Agreement”) is made as of April 18, 2018, by and between The Bon-Ton Stores, Inc. and its associated chapter 11 debtors in possession (collectively, “Merchant”),¹ on the one hand, and (a) a contractual joint venture comprised of GA Retail, Inc. (“GA”) and Tiger Capital Group, LLC (“Tiger” and collectively with GA, the “Agent”) and (b) Wilmington Savings Fund Society, FSB, as the indenture agent and collateral trustee for the 8.00% second-lien senior secured notes due 2021 (the “Second-Lien Notes”) issued by BTDS, on the other hand (in such capacities, the “Notes Trustee” and collectively with Agent, “Purchaser”).  Purchaser and Merchant are collectively the “Parties.”

Section 1.  Recitals

WHEREAS, on February 4, 2018, the entities comprising Merchant commenced ten voluntary chapter 11 bankruptcy cases (the “Bankruptcy Cases”) in the United States Bankruptcy Court for the District of Delaware (the “Bankruptcy Court”).

WHEREAS, pursuant to an order of the Bankruptcy Court entered on February 6, 2018 [D.I. 105], the Bankruptcy Cases are being jointly administered under the caption In re The Bon-Ton Stores, Inc., et al., Lead Case No. 18-10248-MFW (Bankr. D. Del.).

WHEREAS, on March 12, 2018, the Bankruptcy Court entered an order (the “Bidding Procedures Order”) [D.I. 348] that, among other relief, approved bidding procedures (the “Bidding Procedures”) for and scheduled a hearing (the “Sale Approval Hearing”) on the approval of the sale of all or substantially of Merchant’s assets.

WHEREAS, on March 12, 2018, the Bankruptcy Court entered an order (the “Final DIP Order”) [D.I. 352] authorizing Merchant to obtain postpetition secured debtor-in-possession financing on a final basis.

WHEREAS, an ad hoc group of holders of $251,325,000 in principal amount of the Second-Lien Notes (the “Second Lien Noteholders”) has issued a direction to the Notes Trustee to credit bid (the “Credit Bid”) $125,000,000 of its claims under the indenture governing the Second-Lien Notes (the “Notes Claims”) as consideration under this Agreement and the Notes Trustee has made the Credit Bid.

WHEREAS, Merchant operates retail stores and desires that the Agent act as Merchant’s exclusive agent for the purposes of:

(a)

selling all of the Merchandise (as hereinafter defined) from Merchant’s retail store locations identified on Exhibit 1(a)(1) attached hereto (each a “Store” and collectively the “Stores”) and distribution centers (including e-commerce

---

facilities) identified on Exhibit 1(a)(2) attached hereto (each a “Distribution Center” and collectively, the “Distribution Centers”) by means of a “going out of business,” “store closing,” “sale on everything,” “everything must go,” or similar sale as described further below (the “GOB Sale”), with the nature and manner of advertising the GOB Sale being in Agent’s sole discretion, subject to the terms and conditions of this Agreement and the Sale Guidelines and Approval Order (each as defined below);

(b)

marketing and selling, or otherwise designating the purchasers of, the furniture, furnishings, trade fixtures, machinery, equipment, office supplies, Supplies (as defined below), conveyor systems, racking, rolling stock, and other tangible personal property (collectively, “FF&E”) owned by Merchant, wherever located (“Owned FF&E”);

(c)

designating the assignees of any or all of Merchant’s unexpired leases of non-residential real property (together with all amendments, extensions, modifications, and other material documents related thereto, each a “Lease” and all such Leases collectively, the “Leases”) and executory contracts (together with all amendments, extensions, modifications, and other material documents related thereto, each a “Contract” and all such Contracts collectively, the “Contracts”), in each case excluding any Leases or Contracts that may be rejected as permitted and in accordance with the procedures under the Approval Order (defined below) and subject to the assumption and assignment procedures to be incorporated into the Approval Order;

(d)

marketing and selling, and/or otherwise designating the purchasers and/or assignees of any or all real property owned by Merchant (the “Owned Real Estate”), including but not limited to the real property identified on Exhibit 1(d) annexed hereto;

(e)

marketing and selling, and/or otherwise designating the purchasers, assignees, and/or licensees of any or all intellectual property owned by Merchant (the “Intellectual Property”), including but not limited to the intellectual property identified on Exhibit 1(e) annexed hereto, provided that, the disposition of any Intellectual Property that would result in the sale or lease of personally identifiable information (as such term is defined in section 101(41A) of the Bankruptcy Code) shall be subject to a determination made by a consumer privacy ombudsman appointed in Merchant’s chapter 11 cases; and

(f)

marketing and selling, and/or otherwise designating the purchasers, licensees, and/or assignees of any or all of Merchant’s other real and tangible and intangible personal property (the “Other Assets” and, collectively with the Merchandise, the Owned FF&E, all Leases, all Contracts, the Owned Real Estate, and the Intellectual Property, the “Assets”).  For the avoidance of doubt, the Other Assets include but are not limited to all cash on hand and in the Debtors’ retail store locations, cash in transit, cash in bank accounts, Merchant’s interest in and rights with respect to cash posted as collateral for letters of credit, receivables (including

 

WHEREAS, the Official Committee of Unsecured Creditors appointed in the Bankruptcy Cases (the “Committee”) filed an adversary proceeding (the “Adversary Proceeding”) on March 29, 2018 seeking, among other relief, to avoid certain liens securing the Notes Claims.

NOW, THEREFORE, in consideration of the Purchase Price (defined below) and the mutual covenants and agreements set forth in this Agreement, the Parties hereby agree as follows:

Section 2.  Appointment of Agent/Approval Order.  Consistent with the Bidding Procedures and as soon as practicable after full execution of this Agreement, Merchant shall file in the Bankruptcy Cases a proposed form of order (the “Approval Order”) in a form reasonably satisfactory to Merchant and Purchaser.  At the Sale Approval Hearing, Merchant shall seek entry of the Approval Order as the “Sale Order,” as that term is used in the Bidding Procedures Order.  The Approval Order shall, among other things:

(i)

this Agreement is in the best interest of Merchant, its estate and creditors, and other parties in interest

(ii)

the Parties entered into this Agreement in good faith pursuant to Section 363(m) of the Bankruptcy Code and without collusion as described in Section 363(n) of the Bankruptcy Code;

 

(iii)

time is of the essence in effectuating this Agreement and proceeding with the GOB Sale at the Stores uninterrupted;

(iv)

Merchant’s decisions to (a) enter into this Agreement and (b) perform its obligations under this Agreement are a reasonable exercise of Merchant’s sound business judgment consistent with its fiduciary duties and is in the best interests of Merchant, its estate, its creditors, and other parties in interest; and

(v)

this Agreement was negotiated in good faith and at arms’ length and Purchaser is entitled to the protection of section 363(m) and 364(e) of the Bankruptcy Code; and

(i)

this Agreement and all of the transactions contemplated hereby are approved in their entirety;

(ii)

the Parties are authorized to continue to take any and all actions as may be necessary or desirable to implement this Agreement and each of the transactions contemplated hereby;

(iii)

following the occurrence of the closing under this Agreement, which shall occur no later than April 19, 2018 (the “Closing”), subject to payment of the Cash Purchase Price (as defined below) and Purchaser’s compliance with its other obligations hereunder, Agent shall have the exclusive right to market and sell, and/or otherwise designate the purchasers, licensees, and/or assignees of, any or all of the Assets free and clear of all liens, claims, and encumbrances thereon without further order of the Bankruptcy Court;

(iv)

the sale, license, transfer, or other conveyance of any Assets (other than the Assets being sold pursuant to the GOB Sale, as to which no further notice shall be required) reflected in notices filed in the Bankruptcy Cases from time to time by the Agent, substantially in the form annexed hereto as Exhibit 2(b)(iv) (each an “Asset Designation Notice”), shall be automatically effective on the date reflected in the applicable Asset Designation Notice and subject to the satisfaction of any closing conditions reflected therein, and the sale or other conveyance of such Assets shall be free and clear of all liens, claims, and encumbrances without further order of the Bankruptcy Court, provided, however, that nothing in the Approval Order shall inhibit the ability of Agent to seek other or further orders of the Court in connection with the sale or other disposition of any Assets;

(v)

the form of Asset Designation Notice is approved;

 

(vi)

subject to Agent’s compliance with its payment obligations under this Agreement and the Approval Order, Agent is authorized to execute, in the name of and as agent for Merchant, any and all deeds, bills of sale, and other instruments or documents necessary to effectuate the sale, transfer, or other conveyance of any of the Assets;

(vii)

following the payment of the Cash Purchase Price but subject to Agent’s obligation to pay Expenses and fund the Wind-Down Payment pursuant to the Wind-Down Budget (as defined below), all proceeds (cash or otherwise) of any of the Assets except as otherwise set forth in this Agreement (“Proceeds”), including but not limited to all Proceeds arising from the sale, lease, licensing, assignment, or other disposition of any of the Assets, shall be the sole property of Purchaser, and Purchaser shall be entitled to retain all Proceeds for its own account, subject to further distribution among the entities comprising Purchaser pursuant to any agreements between the entities comprising Purchaser and the Second Lien Noteholders;

(viii)

the Wind-Down / Expense Advance shall be deemed held in escrow for the exclusive purpose of paying (1) Expenses (as defined below) and (2) administrative expenses and other amounts pursuant to and solely as reflected in the Wind-Down Budget (provided that such payments may be made from the Wind-Down / Expense Advance as and when due without further order of the Court or action by any Party), and shall not be used for any other purpose without the express written consent of Agent in its sole discretion;

(ix)

following the occurrence of the Closing, subject to Agent’s obligation to pay Expenses and fund the Wind-Down Payment, Merchant and any trustee appointed in the Bankruptcy Cases or any successor cases thereto shall hold the Assets (other than the Assets being sold through the GOB Sale and the Wind-Down / Expense Advance) strictly in trust for the benefit of Purchaser and, as such, the Assets shall not constitute property of Merchant’s bankruptcy estate pursuant to and consistent with 11 U.S.C. § 541(b)(1) at any time following the Closing;

(x)

following the payment of the Cash Purchase Price but subject to Agent’s obligation to pay Expenses and fund the Wind-Down Payment, any Proceeds received by, or otherwise in the possession of, Merchant at any time shall be segregated and held strictly in trust for the benefit of Purchaser, shall not be commingled with Merchant’s own assets, and, as such, shall not become property of Merchant’s bankruptcy estate pursuant to and consistent with 11 U.S.C. §541(b)(1), and shall be paid over to Purchaser immediately;

(xi)

upon the payment of the Cash Purchase Price, and solely to the extent that any Assets or Proceeds are, notwithstanding the Approval Order,

 

(xii)

upon the payment of the Cash Purchase Price and subject to Agent’s obligation to pay Expenses and fund the Wind-Down Payment, until all Assets have been sold or otherwise disposed of, and solely to the extent that any Assets or Proceeds are, notwithstanding the Approval Order, subsequently determined to constitute property of Merchant’s estate, Purchaser shall have a superpriority administrative expense claim against Merchant to the extent of any amounts owing from Merchant to Purchaser in connection with this Agreement, including as a result of any breach of this Agreement and/or as a result of any Proceeds being in Merchant’s possession;

(xiii)

the Lease/Contract Designation Rights are approved, and Purchaser is authorized to designate the assignees of any or all of the Contracts and Leases pursuant thereto;

(xiv)

at any time (i) with respect to any unexpired real estate Lease under which Merchant is lessee, prior to the earlier to occur of (1) September 2, 2018 and (2) expiration of such Lease by its terms or the rejection thereof, and (ii) with respect to all other Contracts and Leases, prior to the earlier to occur of (1) December 31, 2018, and (2) rejection thereof (the shortest of the foregoing periods applicable to a particular Contract or Lease is the “Designation Rights Period” applicable to that Contract or Lease), Purchaser shall have the exclusive right, which right may be exercised at any time and from time to time, to file a notice in the Bankruptcy Cases (each such notice, a “Lease/Contract Assumption Notice”) substantially in the form annexed hereto as Exhibit 2(b)(xiii) designating the assignee of any one or more Leases and/or Contracts and setting forth the proposed cure amount due pursuant to section 365 of the Bankruptcy Code (each a “Cure Amount”);

(xv)

the counterparties to the Leases or Contracts identified in any Lease/Contract Assumption Notice shall have twenty-one days to object to the proposed assumption and assignment;

(xvi)

if no objection to the proposed assumption and assignment of a Lease or Contract is timely received, such Lease or Contract shall, upon payment of the applicable cure payment, if any, to the applicable

 

counterparty, automatically be deemed assigned to and assumed by the assignee identified in the Lease/Contract Assumption Notice pursuant to section 365 of the Bankruptcy Code, without further order of the Bankruptcy Court or further action by any person or entity;

(xvii)

if an objection to the proposed assumption and assignment of a Lease or Contract is timely received, such Lease or Contract shall not be assumed or assigned until such objection is resolved by agreement of the applicable counterparty or order of the Bankruptcy Court;

(xviii)

the designee under any Lease/Contract Assumption Notice shall be required, if requested by the applicable counterparty, to provide adequate assurance of future performance with respect to such Lease or Contract if the applicable counterparty so requests;

(xix)

pursuant to section 365(k) of the Bankruptcy Code, neither Merchant nor any other Party shall have any further obligation under any Lease or Contract after assumption and assignment thereof pursuant to the Lease/Contract Designation Rights;

(xx)

in addition to the Lease/Contract Designation Rights, Purchaser shall have the right, upon written notice to Merchant and as reflected in notices filed in the Bankruptcy Cases from time to time, direct Merchant to reject any Lease or Contract as specified by Purchaser;

(xxi)

at the Closing, all funds held in escrow by Wilmington Trust, National Association (“WT”) pursuant to that certain Escrow Agreement dated as of March 5, 2018 by and among the members of Agent, the Second Lien Noteholders, and WT shall be released at the Closing for application to the Cash Purchase Price;

(xxii)

Agent shall have the exclusive right to use the Stores and all other Assets for the purpose of conducting the GOB Sale, free of any interference from any entity or person, subject to compliance with the Sale Guidelines (as defined below) and Approval Order;

(xxiii)

Agent, as the exclusive agent for Merchant, is authorized to conduct, advertise, post signs, utilize sign-walkers, and otherwise promote the GOB Sale as a “going out of business”, “store closing”, “sale on everything”, “everything must go”, or similar themed sale, in accordance with the Sale Guidelines (as the same may be modified and approved by the Bankruptcy Court), subject to compliance with the Sale Guidelines, the Approval Order, and all applicable federal, state, and local laws, regulations and ordinances, including, without limitation, all laws and regulations relating to advertising, privacy, consumer protection, occupational health and safety and the environment, together with all applicable statutes, rules, regulations and

 

(xxiv)

Agent is authorized to conduct the GOB Sale notwithstanding any Liquidation Sale Laws;

(xxv)

so long as the GOB Sale is conducted in accordance with the Sale Guidelines and the Approval Order and in a safe and professional manner, Purchaser shall be deemed to be in compliance with any Applicable General Laws;

(xxvi)

Agent is granted a limited license and right to use all Intellectual Property for purposes of conducting the GOB Sale and otherwise marketing any or all of the Assets;

(xxvii)

unless otherwise ordered by the Bankruptcy Court, all newspapers and other advertising media in which the GOB Sale is advertised shall be directed to accept the Approval Order as binding and to allow the Parties to consummate the transactions provided for in this Agreement, including, without limitation, conducting and advertising the GOB Sale in the manner contemplated by this Agreement;

(xxviii)

unless otherwise ordered by the Bankruptcy Court, all utilities, landlords, creditors, and other interested parties and all persons acting for or on their behalf shall not interfere with or otherwise impede the conduct of the GOB Sale, or institute any action in any forum other than the Bankruptcy Court that in any way directly or indirectly interferes with or obstructs or impedes the conduct of the GOB Sale;

(xxix)

the Bankruptcy Court retains exclusive jurisdiction over the enforcement and interpretation of, and over and all matters arising from, this Agreement;

(xxx)

Merchant is directed to provide weekly reporting to Agent of all amounts expended for Expenses and pursuant to the Wind-Down Budget;

(xxxi)

Merchant shall make its books and records available to Purchaser at all times;

(xxxii)

Purchaser shall not be liable for any claims against Merchant except as expressly provided for in this Agreement;

 

(xxxiii)

all payments made by Merchant from the Wind-Down Payment shall be made pursuant to, and solely in accordance with, the Wind-Down Budget;

(xxxiv)

Purchaser shall neither have nor incur any obligation to advance or fund any amounts to or for Merchant except as set forth in this Agreement and the Wind-Down Budget;

(xxxv)

any amendment to or other modification of the Wind-Down Budget shall only be effective upon approval by Purchaser in its sole discretion;

(xxxvi)

Agent is authorized to sell the Additional Agent Merchandise on the terms set forth herein, subject to the Sale Guidelines;

(xxxvii)

following the occurrence of the Closing, the Adversary Proceeding is deemed dismissed with prejudice;

(xxxviii)

following the occurrence of the Closing, neither the Debtor nor any other entity acting on its behalf or as its successor (including but not limited to the Committee and any chapter 7 or 11 trustee) may recover from the Notes Trustee or any holders of Second-Lien Notes any costs or expenses of preserving, or disposing of, any of the collateral securing Merchant’s obligations under the Indenture and the Second-Lien Notes pursuant to section 506(c) of the Bankruptcy Code;

(xxxix)

Purchaser and its designees are granted derivative standing to pursue the Avoidance Actions (subject to section 11.2(f) below) and Other Causes of Action in the name of and/or on behalf of Merchant;

(xl)

in the event any of the provisions of the Approval Order are modified, amended or vacated by a subsequent order of the Bankruptcy Court or any other court, Purchaser shall be entitled to the protections provided in Bankruptcy Code sections 363(m) and 364(e) and, no such appeal, modification, amendment or vacatur shall affect the validity and enforceability of the GOB Sale or the liens or priority authorized or created under this Agreement or the Approval Order;

(xli)

neither Purchaser nor any entity comprising Purchaser is or shall be a mere continuation of Merchant or otherwise subject to successor liability in connection with any of the Assets;

(xlii)

upon receipt by the DIP Administrative Agent (as defined in the Final DIP Order) and certain other persons as directed in the Payoff Letter (as defined below) of the DIP Payoff (as defined below) pursuant to Section 3.1(a) of this Agreement, all ongoing commitments under the DIP Credit Agreement (as defined in the Final DIP Order) shall be canceled and terminated;

 

 

(xliii)

to the extent Purchaser has not designated the purchaser or other assignee of any Assets (the “Residual Assets”) as of December 31, 2018 (as may be extended by written agreement of the Parties, the “Designation Rights Termination Date”), (1) ownership of all cash (on hand, in the bank, in transit, or otherwise), credit card processing float, accounts receivable, notes receivable, credit card receivables, other receivables, deposits, security deposits, proceeds of retail sales in all of the Debtors’ retail store locations, rights to refunds, other rights to payment, and Intellectual Property comprising Residual Assets shall vest in Purchaser or its nominee and (2) ownership of all other Residual Assets shall revert to the Debtors’ estates, each on the Designation Rights Termination Date; and

(xliv)

this Agreement, the Approval Order, and all provisions hereof and thereof are binding on any successor to Merchant, including but not limited to any chapter 7 or chapter 11 trustee, and subject to Agent’s obligation to pay Expenses and fund the Wind-Down Payment, any such successor shall continue to hold all Assets and Proceeds strictly in trust for the benefit of Purchaser.

Section 3.  Consideration to Merchant and Agent.

 

 

Proceeds received by, or otherwise in the possession of, Merchant at any time shall be segregated and held strictly in trust for the benefit of Purchaser, shall not be commingled with Merchant’s own assets, shall not become property of Merchant’s bankruptcy estate, and shall be paid over to Purchaser immediately.  For the avoidance of doubt, the costs associated with maintaining the Assets available for sale pursuant to this Agreement shall be borne by Purchaser either as Expenses (as defined below) or through the Wind-Down Payment.

 

customary practices and procedures.  Without limiting the foregoing, Merchant shall cooperate with Agent to download data from all credit card terminals each day during the Sale Term to effect settlement with Merchant’s credit card processor(s), and shall take such other actions necessary to process credit card transactions on behalf of Agent under Merchant’s identification number(s).  At Agent’s request, Merchant shall cooperate with Agent to establish Merchant’s identification numbers under Agent’s name to enable Agent to process all such credit card GOB Sale Proceeds for Agent’s account.  Merchant shall not be responsible for, and Agent shall pay as an Expense hereunder, all credit card fees, charges, and chargebacks related to the GOB Sale, whether received during or after the Sale Term.  Agent shall not be responsible for, as an Expense or otherwise, any credit card fees, charges, or chargebacks relating to periods prior to the Closing.

Section 4.  Expenses.

 

below.  As used herein, “Expenses” shall mean the Store-level operating expenses that arise during the Sale Term, limited to the following:

 

Notwithstanding anything herein to the contrary, to the extent that any Expense category listed in section 4.1 is also included on Exhibit 4.1(c), Exhibit 4.1(c) shall control and such Expenses shall not be double counted.   There will be no double counting or payment of Expenses to the extent that Expenses appear or are contained in more than one Expense category.

As used herein, the following terms have the following respective meanings:

 

building maintenance, trash and snow removal, housekeeping and cleaning expenses, local and long-distance telephone and internet/wifi expenses, security (including, without limitation, security systems, courier and guard service, building alarm service and alarm service maintenance), and rental for furniture, fixtures and equipment.

Subject to and only upon entry of the Approval Order, Agent shall be responsible for the payment of all Expenses out of Proceeds (or from Agent’s own accounts if and to the extent there are insufficient Proceeds).  All Expenses incurred during each week of the GOB Sale (i.e. Sunday through Saturday) shall be paid by Agent to or on behalf of Merchant, or paid by Merchant and thereafter reimbursed by Agent as provided for herein; provided, however, in the event that the actual amount of an Expense is unavailable on the date of the reconciliation (such as payroll), Merchant and Agent shall agree to an estimate of such amounts, which amounts will be reconciled once the actual amount of such Expense becomes available.  Agent and/or Merchant may review or audit the Expenses at any time.

Agent shall be responsible for allocating and designating the shipment of Merchandise from Merchant’s Distribution Centers to the Stores.  All costs and expenses of operating the Distribution Centers, including, but not limited to, use and occupancy expenses, Distribution Center employee payroll and other obligations, and/or processing, transferring, consolidating, shipping, and/or delivering goods within or from the Distribution Centers (the “Distribution Center Expenses”), shall be borne by Agent as an Expense except to the extent provided for in the Wind-Down Budget.

Section 5.  Merchandise.

 

solely responsible for the disposition and/or abandonment of all Excluded Goods and all costs, expenses, and obligations associated therewith. Purchaser shall incur no cost, expense, or obligation in connection with any Excluded Goods.

Section 6.  Sale Term.

Section 7.  FF&E.

 

respect to Owned FF&E under the Asset Designation Rights or with respect to leased FF&E under the Lease/Contract Designation Rights.

Section 8.  Conduct of the GOB Sale.

 

promptly provide the same to Agent, if available, for which Agent shall reimburse Merchant at Merchant’s cost therefor.

 

 

of advertising and promoting the Sale at the Stores, periodically updating such advertising and promotions, and maintaining and updating the Store locator function at no cost or expense to Agent.  With respect to the E-Commerce Platform, (i) Agent shall be authorized to sell Additional Agent Goods through the E-Commerce Platform and (ii) the Parties may implement such other processes, procedures, and agreements as may be necessary or appropriate for the efficient and continued operation of the E-Commerce Platform.  In the event Agent elects to discontinue using the E-Commerce Platform as a sales platform to fulfill customer orders, Merchant agrees that neither Merchant nor any other person or entity shall complete any sale of goods for Merchant’s or any other person’s or entity’s account utilizing the E-Commerce Platform during the GOB Sale Term, Merchant shall otherwise comply with Merchant’s obligations under this Agreement in respect of the E-Commerce Platform, and Merchant shall, as a Central Service and at no cost or expense to Agent (other than as provided in the Wind-Down Budget), maintain the E-Commerce Platform with limited functionality for the limited purposes of advertising and promoting the GOB Sale at the Stores, periodically updating such advertising and promotions, and maintaining and updating the Store locator function.  As part of the Allocation Schedule, Merchant and Agent shall mutually agree upon an allocation of certain On-line Merchandise to be promptly delivered to the Stores and not sold through the E-Commerce Platform (the “Designated On-line Merchandise”).  In the event Agent ceases using the E-Commerce Platform as a sales platform prior to the Sale Termination Date, Merchant shall be responsible for processing and ticketing all Merchandise not sold through the E-Commerce Platform for sale in the Stores and delivering any remaining On-line Merchandise (the “Remaining On-line Merchandise”) to the Stores according to a mutually agreed upon allocation schedule.

Section 9.  Employee Matters.

 

or other extraordinary payments to, any Store or Distribution Center employees prior to the Sale Termination Date.  Merchant shall not transfer any employee in anticipation of the Sale nor any Retained Employee during the Sale Term, in each case without Agent’s prior consent.  To the extent reasonably requested by Agent, and at Agent’s expense, Merchant shall use commercially reasonable efforts to hire additional temporary employees to facilitate the GOB Sale, which employees shall constitute Retained Employees for purposes of this Agreement.

Section 10.  Conditions Precedent and Subsequent.

 

Section 11.  Representations, Warranties and Covenants.

 

Merchant to enter into and deliver the Agency Documents, to perform its obligations thereunder and to consummate the Sale, except for any such consent the failure of which to be obtained could not reasonably be expected to prevent or materially delay or impair the ability of Merchant to execute and deliver this Agreement and perform fully its obligations hereunder.  Each of the Agency Documents has been duly executed and delivered by Merchant and, upon the due authorization, counter-execution, and delivery of this Agreement by Purchaser, constitutes the legal, valid and binding obligation of Merchant enforceable in accordance with its terms.

 

The representations set forth in Sections 11.1(e), (f), (g), and (h) shall not survive the Closing.

 

 

(2) employees and officers with respect to retention payments received pursuant to Retention Agreements in 2017, or (3) directors with respect to directors’ fees received, and such Avoidance Actions shall be released as of the Closing.  This paragraph 11.2(f) shall survive any termination of this Agreement for any reason.

Section 12.  Insurance.

 

Section 13.  Purchaser’s Security Interest.

Subject to Agent’s obligation to pay Expenses and fund the Wind-Down Payment:

Section 14.  Designation Rights.

 

 

assignees of (which may in certain circumstances be Purchaser, any of the entities comprising Purchaser, any of their respective affiliates, and/or a new entity created by any of the foregoing), any or all of the Assets free and clear of all liens, claims, and encumbrances thereon, without further order of the Bankruptcy Court (the “Asset Designation Rights”).  Subject to Agent’s payment obligations hereunder, Agent is authorized to execute, in the name of and as agent for Merchant, any and all deeds, bills of sale, and other instruments or documents necessary to effectuate the sale, transfer, or other conveyance of any of the Assets.

Section 15.  Miscellaneous.

	If to Merchant:   The Bon-Ton Stores, Inc. 2801 East Market Street York, PA 17402 Attention:
	With copies (which shall not constitute notice) to:
	Malfitano Partners Joseph A. Malfitano, PLLC 747 Third Ave., 2nd Floor

	New York, NY 10017
	Attn:	Joseph A. Malfitano (jm@malfitanopartners.com)
	If to Purchaser:
	GA Retail, Inc.
	Attn:	Scott Carpenter (scarpenter@greatamerican.com)
		Alan Forman (aforman@brileyfin.com)
	and
	Tiger Capital Group, LLC
	Attn:	Christopher Huber (chuber@tigergroup.com)
		Mark Naughton (mnaughton@tigergroup.com)
	and
	Wilmington Savings Fund Society, FSB
	Attn:	Patrick J. Healy (phealy@wsfsbank.com)
	With copies (which shall not constitute notice) to:
	Lowenstein Sandler LLP Counsel to Great American Group WF LLC
	Attn:	Kenneth A. Rosen (krosen@lowenstein.com)
		Andrew Behlmann (abehlmann@lowenstein.com)
	and
	Kilpatrick Townsend & Stockton LLP Counsel to WSFS
	Attn:	David Posner (dposner@kilpatricktownsend.com)
	and
	Jones Day Counsel to Second Lien Noteholders
	Attn:	Sidney P. Levinson (slevinson@jonesday.com)
		Joshua M. Mester (jmester@jonesday.com)
		John Kane (jkkane@jonesday.com)

date that such payment is due.  In the event that the date on which any such payment is due is not a business day, then such payment shall be made by wire transfer on the next business day.

 

[ signature page follows ]

IN WITNESS WHEREOF, the Parties hereby execute this Agreement by their respective duly authorized representatives as a sealed instrument as of the day and year first written above.

	GA RETAIL, INC.
	By:
	Name:
	Its:

Case 18-10248-MFW

Doc 632-1

Filed 04/18/18

Page 38 of 60

 

 

Exhibit 1(a)(1)	Stores
Exhibit 1(a)(2)	Distribution Centers
Exhibit 1(d)	Owned Real Estate
Exhibit 1(e)	Intellectual Property
Exhibit 2(b)(iv)	Form of Asset Designation Notice
Exhibit 2(b)(xiii)	Form of Lease/Contract Assumption Notice
Exhibit 3.1(c)	Wind-Down Budget
Exhibit 4.1(c)	Per Store, Per Diem Occupancy Expenses.
Exhibit 8.1	Sale Guidelines

 

 

The Bon-Ton Stores, Inc.

Exhibit 1 (a) (1)

Full Company Liquidation Stores Closing List

---

 

Store List

 

Store #          Store Name	Address	City	State	Zip	Selling Sq Ft
2 Hanover	400 Eisenhower Drive	Hanover	PA	17331	71,636
4 Lewistown	111 East Market Street	Lewistown	PA	17044	46,660
5 Martinsburg	800 Foxcroft Avenue	Martinsburg	WV	25401	65,780
6 Chambersburg	100 Chambersburg Mall	Chambersburg	PA	17201	55,621
7 Park City Furn	870 Plaza Boulevard	Lancaster	PA	17601	32,000
8 Park City	600 Park City Center	Lancaster	PA	17601	178,967
12 Cumberland	1262 Vocke Rd	LaVale	MD	21502	75,134
14 Galleria	2899 Wh teford Road, Ste 282	York	PA	17402	131,915
15 Uniontown	1800 Mall Run Road	Uniontown	PA	15401	80,511
17 Indiana	2334 Oakland Avenue Suite 35	Indiana	PA	15701	60,465
18 Warren	4000 Market Street	Warren	PA	16365	50,070
19 Wilton	3065 Route 50	Saratoga Springs	NY	12866	71,740
21 Oil C ty	6945 US 322	Cranberry	PA	16319	45,168
22 Br ck	80 Brick Plaza	Brick	NJ	08723	53,500
25 Binghamton	601-635 Harry L Dr.	Johnson City	NY	13790	81,112
27 Williamsport	300 Lycoming Mall Circle	Pennsdale	PA	17756	60,952
28 Bloomsburg	225 Columbia Mall Drive	Bloomsburg	PA	17815	46,060
29 Queensgate	2081 Springwood Road	York	PA	17403	114,608
31 Camp Hill	3525 Gettysburg Road	Camp Hill	PA	17011	145,200
32 Colonial Park	4600 Jonestown Road	Harrisburg	PA	17109	136,540
35 Reading	1665 State Hill Road	Wyomissing	PA	19610	159,368
36 Greensburg	5256 Rt 30	Greensburg	PA	15601	100,003
37 Washington	1500 W. Chestnut Street	Washington	PA	15301	78,129
38 Midway	1066 Wyoming Avenue	Wyoming	PA	18644	66,026
39 Wilkes-Barre	14 Wyoming Valley Mall	Wilkes-Barre	PA	18702	159,454
43 Newburgh	1401 Route 300  Ste 139	Newburgh	NY	12550	61,785
44 Ithaca	40 Catherwood Road	Ithaca	NY	14850	62,225
46 Jamestown	318 E. Fairmount Avenue	Lakewood	NY	14750	59,860
48 Westfield	443 E. Main Street	Westfield	MA	01085	74,939
62 Eastern Hills	4545 Transit Road	Williamsville	NY	14221	151,208
63 Sheridan	1706 Sheridan Drive	Buffalo	NY	14223	124,284
64 Southgate	1090 Union Road	West Seneca	NY	14224	100,500
65 McKinley	3701 McKinley Parkway	Blasdell	NY	14219	97,204
67 Lockport	5737 S. Transit Road	Lockport	NY	14094	82,000
68 Olean	402 N. Union Street	Olean	NY	14760	73,017
69 Niagara	6929 Williams Road	Niagara Falls	NY	14303	88,128
72 Bethlehem	2524 Schoenersville Road	Bethlehem	PA	18017	108,650
73 S. Allentown	3300 Lehigh Street	Allentown	PA	18103	101,841
76 Easton	146 Palmer Park Mall	Easton	PA	18045	115,062
78 Quakertown	751 SW End Blvd.	Quakertown	PA	18951	88,126
81 Doylestown	456 North Main Street	Doylestown	PA	18901	61,915
84 Elmira	3300 Chambers Road South, Ste. 50	Horseheads	NY	14845	74,752
94 Camillus	5301 W. Genesee Street	Camillus	NY	13031	64,700
101 Dayton Mall	2700 St. Rt. 725	Dayton	OH	45459	212,000
107 Huber Heights	8221 Old Troy Pike	Huber Heights	OH	45424	101,840
115 Beavercreek	2727 Fairfield Commons	Beavercreek	OH	45431	151,740
117 Piqua	987 E. Ash Street	Piqua	OH	45356	60,000
118 Athens	1004 E. State Street	Athens	OH	45701	42,253
119 New Philadelphia	400 Mill Avenue, Ste. C3	New Philadelphia	OH	44663	73,310
121 Kettering	2050 E. Dorothy Lane	Dayton	OH	45420	87,317
125 Lancaster	1730 River Valley Circle S.	Lancaster	OH	43130	52,725
126 Heath	771 S. 30th Street	Newark	OH	43056	73,185
128 Zanesville	3575 Maple Avenue	Zanesville	OH	43701	70,847
129 Marion	1475 Marion Waldo Road	Marion	OH	43302	75,673
130 Chillicothe	1080 N. Br dge Street	Chillicothe	OH	45601	55,940
132 Richmond	601 East Main St.	R chmond	IN	47374	100,000
137 Sandusky	4314 Milan Road	Sandusky	OH	44870	80,398

 

The Bon-Ton Stores, Inc.

Exhibit 1 (a) (1)

Full Company Liquidation Stores Closing List

---

 

Store List

Store #          Store Name	Address	City	State	Zip	Selling Sq Ft
138 Plover	1780 Plover Road	Plover	WI	54467	54,564
140 Kohler	4030 Hwy #28	Sheboygan Falls	WI	53085	54,541
142 West Bend	1291 W. Paradise Road	West Bend	WI	53095	61,011
143 Coldwater	373 N. Willowbrook Rd. Suite Z	Coldwater	MI	49036	54,146
144 Alliance	Carnation Mall, 2500 W. State Street	Alliance	OH	44601	55,552
147 Wooster	4095 Burbank Road	Wooster	OH	44691	53,446
148 Morgantown	9550 Mall Road	Morgantown	WV	26501	71,032
150 Warsaw	2856 Frontage Road	Warsaw	IN	46580	80,320
151 Frankfort	202 Limestone Drive	Frankfort	KY	40601	53,954
152 Findlay	1800 Tiffin Avenue	Findlay	OH	45840	74,841
153 Bowling Green	1234 N Main Street	Bowling Green	OH	43402	40,000
154 Howell	3599 E. Grand River Avenue	Howell	MI	48843	72,873
155 Westgate	3311 Secor Road	Toledo	OH	43606	154,000
159 Monroe	2121 Monroe Street	Monroe	MI	48161	99,363
161 Midland	6830 Eastman Avenue	M dland	MI	48642	64,141
163 Jackson	1826 W. Michigan Avenue	Jackson	MI	49202	70,425
173 Muscatine	1903 Park Avenue	Muscatine	IA	52761	43,906
175 Mattoon	700 Broadway Avenue E	Mattoon	IL	61938	54,266
178 Jasper	3875 Newton Street	Jasper	IN	47546	55,238
179 Terre Haute	3401 US Hwy 41 S	Terre Haute	IN	47802	70,380
182 Muncie	3501 N. Granville Avenue	Muncie	IN	47303	80,000
184 Kokomo	1156 South 17th Street	Kokomo	IN	46902	60,135
186 Green Bay Furn	201 Bay Park Square	Green Bay	WI	54304	53,265
189 Southtown	2400 State Route 725	Dayton	OH	45459	54,848
199 Fort Wayne	4201 Coldwater Road	Fort Wayne	IN	46805	122,000
203 Clarksburg	2700 Meadowbrook Mall	Bridgeport	WV	26330	124,285
205 Ashland	10699 US Route 60	Ashland	KY	41102	70,000
206 Kanawha	5700 MacCorkle Avenue SE	Charleston	WV	25304	80,000
209 Winfield	200 Liberty Sq. Shopping Center	Hurricane	WV	25526	70,476
310 St Cloud	600 W St. Germain St.	St. Cloud	MN	56301	93,900
311 Virginia	1440 S 12th Avenue	Virginia	MN	55792	66,582
312 Rice Lake	2900 South Main	R ce Lake	WI	54868	54,661
313 Fergus Falls	2001 West Lincoln Avenue Ste. 2	Fergus Falls	MN	56537	39,536
314 New Ulm	110 N Minnesota Street	New Ulm	MN	56073	47,277
315 Watertown	1300 9th Avenue SE	Watertown	SD	57201	40,320
316 Alexandria	3015 Hwy 29 S Ste. 4037	Alexandria	MN	56308	70,314
317 Havre	1753 Highway 2 NW	Havre	MT	59501	47,161
318 LaCrosse	4000 State Road 16	LaCrosse	WI	54601	41,344
319 Albert Lea	2440 Bridge Avenue	Albert Lea	MN	56007	64,436
320 Moorhead	420 Center Ave, Ste. 1	Moorhead	MN	56560	106,150
321 Bismarck	641 Kirkwood Mall	Bismarck	ND	58506	92,500
323 Brainerd	14136 Baxter Drive Ste. 1	Baxter	MN	56425	82,879
325 Billings	300 S 24th Street W, Ste. E100	Billlings	MT	59102	60,224
326 Ottumwa	1110 Quincy Ave	Ottumwa	IA	52501	55,282
327 Great Falls	1200 10th Avenue South	Great Falls	MT	59405	70,000
328 Rap d City	2200 N Maple Avenue	Rapid C ty	SD	57701	88,977
329 Rock Springs	2445 Foothill Blvd.	Rock Springs	WY	82901	60,018
330 Dickinson	Prairie Hills Mall	Dickinson	ND	58601	42,980
331 Minot	2400 10th Street SW	Minot	ND	58701	52,468
332 Willmar	1605 S. 1st. Street	Willmar	MN	56201	88,701
334 Norfolk	1700 Market Lane	Norfolk	NE	68701	77,365
335 Hastings	3001 W 12th Ste. 4	Hastings	NE	68901	52,950
336 North Platte	1100 South Dewey	North Platte	NE	69101	43,500
338 Kearney	4915 2nd Avenue	Kearney	NE	68847	87,500
339 Scottsbluff	2302 Frontage Road Box 29	Scottsbluff	NE	69361	72,699
340 Kalispell	20 North Main	Kalispell	MT	59901	80,000
341 Blaine	301 Northtown Dr.	Blaine	MN	55434	130,722

The Bon-Ton Stores, Inc.

Exhibit 1 (a) (1)

Full Company Liquidation Stores Closing List

---

Store List

Store #          Store Name	Address	City	State	Zip	Selling Sq Ft
342 Stillwater	2001 Washington Avenue	Stillwater	MN	55082	95,360
343 Aberdeen	3315 6th Avenue Southeast Ste. 2	Aberdeen	SD	57401	79,668
344 Grand Junction	2424 US Highway 6 & 50	Grand Junct on	CO	81505	72,279
345 Mankato	1850 Adams Street	Mankato	MN	56001	71,046
348 Bemidji	1401 Paul Bunyan Drive NW	Bemidji	MN	56601	56,392
349 Butte	3100 Harrison Avenue Ste. 5	Butte	MT	59701	65,000
351 Missoula	2901 Brooks Avenue	Missoula	MT	59801	45,167
352 Fargo	3902 13th Avenue South	Fargo	ND	58103	103,200
353 Rosedale	1675 West Highway 36	Roseville	MN	55113	149,908
354 Midway	1400 University Avenue West	St. Paul	MN	55104	124,136
355 Southtown	7831 Southtown Center	Bloomington	MN	55431	133,103
356 Edina	300 Southdale Center	Edina	MN	55435	143,608
357 Rochester	1201 SW 12th Street	Rochester	MN	55902	78,130
401 Ames	2801 N Grand Ave	Ames	IA	50010	49,888
402 Mason C ty	102 S Delaware Avenue	Mason City	IA	50401	59,500
403 Fort Dodge	217 S. 25th St., Ste 33	Fort Dodge	IA	50501	54,179
404 Marshalltown	2500 S Center Street	Marshalltown	IA	50158	42,142
406 Oak View	3201 S 144th Street	Omaha	NE	68144	149,326
408 Waterloo	2060 Crossroads Blvd.	Waterloo	IA	50702	86,781
409 Austin	1405 18th Avenue NW	Austin	MN	55912	45,277
410 Merle Hay	3800 Merle Hay Road Ste. 100	Des Moines	IA	50310	165,000
412 Coralville	1421 Coral Ridge Avenue	Coralville	IA	52241	98,458
413 Lindale Plaza	4444 1st Avenue NE	Cedar Rapids	IA	52404	100,000
414 Jordan Creek	101 Jordan Creek Parkway, #6000	West Des Moines	IA	50265	159,673
418 Dubuque	555 John F. Kennedy Road	Dubuque	IA	52002	126,839
419 Westroads	707 N 102nd	Omaha	NE	68114	171,800
421 Davenport	320 W Kimberly Road	Davenport	IA	52806	104,913
422 Moline	4600 16th Street	Moline	IL	61265	107,145
423 Southridge	1111 E Army Post Road, Ste. 2003	Des Moines	IA	50315	105,183
424 Sioux Falls	3500 W Empire Mall	Sioux Falls	SD	57106	105,292
429 Southern Hills	4380 Sergeant Road	Sioux C ty	IA	51106	92,695
430 West Burlington	550 S Gear Avenue	West Burlington	IA	52655	66,705
432 Eau Claire	4850 Golf Road	Eau Claire	WI	54701	102,000
437 Valley West	1551 Valley West Drive Ste. 200	West Des Moines	IA	50266	205,248
438 Muskegon	5580 Harvey Street	Muskegon	MI	49444	106,131
439 Sturgeon Bay	58 N 3rd Avenue	Sturgeon Bay	WI	54235	60,000
440 Grandville	3668 Rivertown Parkway	Grandville	MI	49418	150,081
443 Traverse City	1776 Garfield Road	Traverse C ty	MI	49684	49,666
445 Lansing	5220 W Saginaw Highway	Lansing	MI	48917	103,000
447 Lincoln	3 Gateway Mall	Lincoln	NE	68505	100,000
448 Marshfield	503 E Ives Street	Marshfield	WI	54449	48,295
449 Duluth	1600 Miller Trunk Highway	Duluth	MN	55811	140,999
451 Grand Island	3404 W 13th Street	Grand Island	NE	68801	60,081
457 Bay Park	101 Bay Park Square	Green Bay	WI	54304	145,672
463 Holland	12331 James Street	Holland	MI	49424	69,148
464 Okemos	1982 W Grand River Avenue	Okemos	MI	48864	168,757
465 Port Huron	4450 24th Avenue	Fort Gratiot	MI	48060	70,536
475 Bay City	4131 E Wilder Road	Bay C ty	MI	48706	110,536
501 Bloomington	1601 Empire St.	Bloomington	IL	61701	131,606
502 LaSalle Peru	3940 Route 251 Ste 01	Peru	IL	61354	87,500
503 Pekin	3536 Court St.	Pekin	IL	61554	82,100
504 Champaign	2000 North Neil St.	Champaign	IL	61820	154,302
505 Galesburg	1150 W. Carl Sandburg Dr.	Galesburg	IL	61401	84,894
507 Quincy	3347 Broadway	Quincy	IL	62301	106,400
508 Forsyth	1005 Hickory Point Mall	Forsyth	IL	62535	125,455
510 Janesville	2500 Milton Avenue	Janesville	WI	53545	96,000
511 Sterling	2900 E. Lincolnway	Sterling	IL	61081	60,000

The Bon-Ton Stores, Inc.

Exhibit 1 (a) (1)

Full Company Liquidation Stores Closing List

---

Store List

Store #          Store Name	Address	City	State	Zip	Selling Sq Ft
512 Cherryvale	7200 Harrison Avenue	Rockford	IL	61112	128,330
515 Joliet	3340 Mall Loop Drive	Joliet	IL	60435	128,000
516 Spring Hill	4000 Spring Hill Ring Rd	Dundee	IL	60118	128,000
517 Randhurst	1025 Center Dr.	Mount Prospect	IL	60056	205,056
518 White Oaks	2501 W. Wabash	Springfield	IL	62704	125,000
519 Milwaukee Grand Ave	331 W Wisconsin Avenue	Milwaukee	WI	53203	124,055
520 Bayshore	5701 N Lydell Avenue	Glendale	WI	53217	167,606
521 Racine	5500 Durand Avenue	Racine	WI	53406	106,157
522 Brookfield	15875 W Bluemound Road	Brookfield	WI	53005	218,705
523 Southridge	5300 S 76th Street	Greendale	WI	53129	221,000
526 East Towne	53 East Towne Mall	Madison	WI	53704	138,755
527 Mayfair	2400 N Mayfair Road	Wauwatosa	WI	53226	210,713
528 West Towne	36 West Towne Mall	Madison	WI	53719	139,580
529 Brookfield Furniture	18615 W Bluemound Road	Brookfield	WI	53045	55,000
530 Evergreen	9700 S Western Ave	Evergreen Park	IL	60805	120,000
531 Yorktown	230 Yorktown Shopping Center	Lombard	IL	60148	217,887
532 Woodmar	6600 Indianapolis Blvd.	Hammond	IN	46320	111,080
533 Edens Plaza	3200 Lake Avenue	Wilmette	IL	60091	160,578
535 Stratford Square	4 Stratford Square	Bloomingdale	IL	60108	147,116
538 Chicago Ridge	9800 S Ridgeland Ave	Ch cago Ridge	IL	60415	154,241
539 Harlem Irving	4200 N Harlem Avenue	Norridge	IL	60706	168,058
541 North Riverside	7505 W Cermak Road	North Riverside	IL	60546	180,550
542 Southlake	1995 Southlake Mall	Merrillville	IN	46410	144,123
543 Orland Square	4 Orland Square	Orland Park	IL	60462	163,370
546 Yorktown Furniture	2 Yorktown Mall Drive	Lombard	IL	60148	45,708
547 Edens Furniture	3232 Lake Avenue	Wilmette	IL	60091	34,830
548 Schaumburg Furn ture	830 E Golf Road	Schaumburg	IL	60173	58,525
549 Michigan City	305 W US Highway 20	M chigan City	IN	46360	81,420
550 Hawthorn	3 Hawthorne Center	Vernon Hills	IL	60061	112,121
551 Ford City	7601 S Cicero Avenue	Ch cago	IL	60652	155,513
552 Lincolnwood	3333 Touhy Avenue	Lincolnwood	IL	60712	122,650
553 Bradley	1602 N State IL- 50	Bourbonnais	IL	60914	142,200
554 St Charles	3850 E Main Street	St. Charles	IL	60174	141,808
555 Hawthorn Furniture	480 East Ring Road	Vernon Hills	IL	60540	46,290
556 Fox Valley	3 Fox Valley Center	Aurora	IL	60505	131,267
561 Orland Park Furniture	66 Orland Square Drive	Orland Park	IL	60462	71,783
563 Grand Prairie	5203 W. War Memorial Drive	Peoria	IL	61615	181,238
571 Laurel Park	17624 Newburgh Rd	Livonia	MI	48152	148,800
572 Rochester Hills	400 N.Adams St.	Rochester Hills	MI	48309	121,380
573 Partridge Creek	17480 Hall Rd.	Clinton Township	MI	48038	116,254
579 Naperville Frn Clear.	1835 W. Jefferson	Naperville	IL	60540	30,000
				Count: 212

The Bon-Ton Stores, Inc.

Exhibit 1 (a) (2)

Distribution Centers

---

Store List

Store #          Store Name	Address	City	State	Zip	Selling Sq Ft
50 Whitehall - DC	3585 South Church St	Whitehall	PA	18052	n/a
198 Fairborn - DC	1340 E Dayton Yellow Springs Rd	Fairborn	OH	45324	n/a
460 West Jefferson - DC	115 Enterprise Parkway	West Jefferson	OH	43162	n/a
950 Rockford - DC	4650 Shepherd Trail	Rockford	IL	61103	n/a
				Count: 4

 

 

The Bon-Ton Stores, Inc.

Exhibit 1 (d)

Owned Real Estate

---

 

Store List

Store #          Banner	Store Name	Address	City	State	Zip	Selling Sq Ft
4 Bon-Ton	Lewistown	111 East Market Street	Lewistown	PA	17044	50,000
31 Bon-Ton	Camp Hill	3525 Gettysburg Road	Camp Hill	PA	17011	145,375
36 Bon-Ton	Greensburg	Westmoreland Mall, 5256 Route 30	Greensburg	PA	15601	99,800
67 Bon-Ton	Lockport	5737 South Transit Road	Lockport	NY	14094	81,431
128 Elder-Beerman	Zanesville	3575 Maple Avenue	Zanesville	OH	43701	70,847
132 Elder-Beerman	Richmond	601 East Main Street	Richmond	IN	47301	111,350
310 Herberger’s	St. Cloud	600 West Saint Germain Street	St. Cloud	MN	56301	168,755
327 Herberger’s	Great Falls	1200 10th Avenue South	Great Falls	MT	59405	81,969
354 Herberger’s	Midway	1400 University Avenue	St. Paul	MN	55104	124,136
410 Younkers	Merle Hay	3800 Merle Hay Road, Su te 100	Des Moines	IA	50310	165,000
412 Younkers	Coralville	1421 Coral Ridge Avenue	Coralville	IA	52241	98,458
432 Younkers	Eau Claire	4850 Golf Road	Eau Claire	WI	54701	102,000
438 Younkers	Muskegon	5580 Harvey Street	Muskegon	MI	49444	106,131
440 Younkers	Grandville	3668 Rivertown Parkway	Grandville	MI	49418	150,081
449 Younkers	Duluth	1600 Miller Trunk Highway	Duluth	MN	55811	140,999
501 Bergner’s	Bloomington	1601 Empire Street	Bloomington	IL	61701	131,616
503 Bergner’s	Pekin	3500 Court Street	Pekin	IL	61553	82,100
508 Bergner’s	Forsyth	1005 Hickory Point Mall	Forsyth	IL	62535	126,056
514 Carson’s	Aurora Northgate	970 North Lake Street	Aurora	IL	60506	119,000
516 Carson’s	Spring Hill	4000 Spring Hill Mall	Dundee	IL	60118	128,000
518 Bergner’s	Wh te Oaks	2501 West Wabash	Springfield	IL	62704	125,000
521 Boston Store	Racine	5500 Durand Avenue	Racine	WI	53406	106,157
533 Carson’s	Edens Plaza	3200 Lake Avenue	Wilmette	IL	60091	155,000
549 Carson’s	Michigan City	305 West US Highway 20	Michigan C ty	IN	46360	76,121
550 Carson’s	Hawthorn	3 Hawthorne Center	Vernon Hills	IL	60061	112,121
556 Carson’s	Fox Valley	3 Fox Valley Center Drive	Aurora	IL	60504	120,000
572 Carson’s	Rochester Hills	400 North Adams Road	Rochester Hills	MI	48309	61,233
573 Carson’s	Partridge Creek	17480 Hall Road	Clinton	MI	48038	120,000
590 Carson’s	Rockford D.C.	4650 Shepherd Trail	Rockford -Owned	IL	61103	520,000
		“Quincy Property”	Quincy	IL
					Count: 30

 

 

The Bon-Ton Stores, Inc.

Exhibit 1 (e)

Intellectual Property

BON TON ENTITIES TRADEMARKS

Reg Number	Serial Number	Name	Mark
966580	72435362		BRECKENRIDGE
1143734	73159353		CARSON PIRIE SCOTT
1395289	73471798		CARSONS
1332638	73495705		ELDER-BEERMAN
1392446	73543142	BON-TON STORES, INC., THE	STUART HUGHES
1397712	73543145	THE BON-TON DEPARTMENT STORES, INC.	SUSQUEHANNA TRAIL OUTFITTERS
1526191	73663359		PIZZA STRADA
1680687	74078995		THE BON-TON
1661242	74097054		THE BON-TON
1795407	74340081		YOUNKERS
1869666	74355074		CEZANI
2006730	74552885	Bon-Ton Trade Corp., The	ANDREA VICCARO
2006731	74552975		JENNY BUCHANAN
2001829	74553100		CUDDLE BEAR
1935197	74580597	CARSON PIRIE SCOTT II, INC. (F/K/A MCRAE’S, INC.)	MCRAE’S
2021357	74638895		COME TO THE RIGHT PLACE
2217957	75023572	CARSON PIRIE SCOTT II, INC. (F/K/A MCRAE’S, INC.)	NATIONAL BANK OF THE GREAT LAKES
2015874	75045762		JENNY BUCHANAN
2635572	75348627		(RELATIVITY)
2385966	75348885		LIVING QUARTERS
2278878	75410193		HERBERGER’S
2278879	75410395	THE BON-TON DEPARTMENT STORES, INC.	HERBERGER’S
2407600	75441794		STUDIO WORKS
2493154	75654658		LIVING QUARTERS
2412363	75857375		CHARGE AGAINST BREAST CANCER
2384258	75979374		RELATIVITY
2363348	75979521		CONSENSUS
	76232809	BON-TON DEPARTMENT STORES, INC.	MADISON & MAX
3447275	76467824	CARSON PIRIE SCOTT II, INC. (F/K/A MCRAE’S, INC.)	SHE SHE LA LÀ
2856632	76975745	THE BON-TON DEPARTMENT STORES, INC.	MADISON & MAX
3292860	77035952		PARADISE COLLECTION
3436925	77055123		KENNETH ROBERTS PLATINUM
3483180	77183901		INTIMATE ESSENTIALS
3528518	77227149		EXERTEK
3709384	77359862		LITTLE MISS ATTITUDE
	77364016	THE BON-TON DEPARTMENT STORES, INC.	AUTHENTIC U
3632950	77520071		CELEBRATIONS REGISTRY FOR VERY SPECIAL OCCASIONS
3628605	77520170		CELEBRATIONS REGISTRY FOR VERY SPECIAL OCCASIONS
3570064	77553578		STUDIO WORKS
3666012	77577377		BOSTON STORE
3848434	77630455		MISS ATTITUDE
3842899	77814203		BT JEWELED
3881265	77836970		KENNETH ROBERTS
3909131	77881965		LIVING QUARTERS
3892546	77969650	CARSON PIRIE SCOTT II, INC.	BERGNER’S
2765740	78116121	CARSON PIRIE SCOTT II, INC.	(RELATIVITY) DESIGN LAB
2934000	78191055		MISS ATTITUDE
	78292100	CARSON PIRIE SCOTT II, INC. (F/K/A MCRAE’S, INC.)	PERFECT PIMA
	78560181		MARKET STREET EAST
3217597	78867113	THE BON-TON TRADE, LLC	SUSQUEHANNA TRAIL OUTFITTERS
3022152	78976395		BRECKENRIDGE
3069447	78976644		CHANTEUSE
	85108157	THE BON-TON DEPARTMENT STORES, INC.	CUSTOMER FIRST
4143662	85194375
4139987	85225140		KENNETH ROBERTS
4143891	85247954		JB
	85476397	THE BON-TON  STORES, INC.	AFFINITY
4259055	85495083	THE BON-TON DEPARTMENT STORES, INC.	ZOE&BELLA@BT
4552374	85715679	THE BON-TON DEPARTMENT STORES, INC.	CUDDLE BEAR
4357088	85733613		ZOE&BELLA @BT
4361044	85772207	CARSON PIRIE SCOTT II, INC.	PARADISE COLLECTION
4507524	85850871		STYLE ON THE STREET
4998553	85920357		DESIGN DISTRICT
4496279	85929876		TRENDÉVOUS
4532638	86044801
4626285	86144251		BEAUTY STATION
4736593	86261094
4991097	86433458		BEAUTY STATION
5191722	86532617		CHEF’S QUARTERS
5396972	86898865		ZOE&BELLA @BT
5005143	86979074		CHEF’S QUARTERS
5135982	87019592		SANTA’S PANTRY
	87063073		LOVESTYLEREWARDS
	87063086	THE BON-TON DEPARTMENT STORES  INC.	STYLEREWARDS
	87368531		YULETIDE FARMS
	87416731		DRESSOBSESSED
	87418738		CLOSE TO HOME
	87471882		THE BIG GRILL
	87488334		MEYEWEAR
	87492351		MEYEWEAR
	87495174		FASHION TO GO
	87495186		STYLE TO GO
	87497118		STYLE 2 GO
	87498911		FASHION 2 GO
	87498969		TRAVEL QUARTERS
	87505353		CUDDLE BEAR
	87528193		LIVING QUARTERS
	87535628		BETTER BRANDS. BIGGER SAVINGS.
	87537827		ZOE&BELLA@BT
	87626265		ZOE&BELLA@BT

 

 

Reg Number	Serial Number	Name	Mark
	87667636		EO
	87697689		BUZZWORX
	87706897		ZOE&BELLA@BT
	87748141		MATTI & MAX
	87762369		MATTI & MAX

 

	BON TON ENTITIES COPYRIGHTS
Registration Number	Title	Type
TX4880277	Doing a good business: 100 years at the Bon-Ton	Literary Work
TX1896055	Elder-Beerman Stores Corporation: a tradition of success	Literary Work
TX5900922	A tale from Flurryville: the Berg’s big surprise	Literary Work
TX5744198	Wow! what a cow: a tale from funky	Literary Work
TX5638101	A tale from Flurryville: Arctic Bart finds his happy heart	Literary Work
TX5658257	Holiday celebrations with recipes from Younkers	Literary Work
TX6497902	Baxter shares his bear	Literary Work
TX2217381	Parisian celebrating a century of service	Literary Work
TX3196448	Presentation - a manual of standards and guidelines	Literary Work
VA239074	Riverchase Galleria  Parisian grand opening	Visual Arts
VA81949	Made in Wisconsin	Visual Arts
VA6480	Cratchits’ Christmas dinner	Visual Arts

 

 

 

Exhibit 2(b)(iv)

Form of Asset Designation Notice

IN THE UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF DELAWARE

In re:   THE BON-TON STORES, INC., et al.,1   Debtor.

Chapter 11   Case No. 18-10248 (MFW)   Jointly Administered

 

PLEASE TAKE FURTHER NOTICE that pursuant to the Approval Order, upon the closing of the transaction pursuant to the Purchase Agreement, the Designated Assets shall be deemed conveyed to Designee by the Debtors free and clear of all liens, claims, encumbrances, and other interests of any kind.

 

---

1

The Debtors in these chapter 11 cases, along with the last four digits of each Debtor’s federal tax identification number, are: The Bon-Ton Stores, Inc. (5229); The Bon-Ton Department Stores, Inc. (9309); The Bon-Ton Giftco, LLC (2805); Carson Pirie Scott II, Inc. (2140); Bon-Ton Distribution, LLC (5855); McRIL, LLC (5548); Bonstores Holdings One, LLC (8574); Bonstores Realty One, LLC (8931); Bonstores Holdings Two, LLC (8775); and Bonstores Realty Two, LLC (9075). The headquarters for the above-captioned Debtors is 2801 East Market Street, Bldg. E, York, Pennsylvania 17402.

2	Capitalized terms used but not defined in this Notice have the meanings given thereto in the Approval Order.

 

 

Dated: [_], 2018

[COUNSEL TO PURCHASER]

Wilmington, Delaware

_____________________________

 

 

 

 

Form of Asset Designation Notice

 

Designated Assets	Designee

 

 

 

 

 

Exhibit 2(b)(xiii)

Form of Lease/Contract Assumption Notice

IN THE UNITED STATES BANKRUPTCY COURT
FOR THE DISTRICT OF DELAWARE

 

In re:   THE BON-TON STORES, INC., et al.,1   Debtor.

Chapter 11   Case No. 18-10248 (MFW)   Jointly Administered

 

PLEASE TAKE FURTHER NOTICE that the cure amounts for the Leases and/or Contracts to be assigned pursuant to this Notice and the Approval Order are set forth on Schedule A.

 

PLEASE TAKE FURTHER NOTICE that objections, if any, to the assumption and assignment of any Lease or Contract must be filed with the Bankruptcy Court and served on counsel for Purchaser at the addresses (including e-mail addresses) set forth in the signature block of this Notice on or before [_], 2018.³ If no timely objection to the assumption and assignment of a Lease or Contract is received, the assumption and assignment of such Lease or Contract will become effective automatically pursuant to the Approval Order on the date

 

 

---

1

The Debtors in these chapter 11 cases, along with the last four digits of each Debtor’s federal tax identification number, are: The Bon-Ton Stores, Inc. (5229); The Bon-Ton Department Stores, Inc. (9309); The Bon-Ton Giftco, LLC (2805); Carson Pirie Scott II, Inc. (2140); Bon-Ton Distribution, LLC (5855); McRIL, LLC (5548); Bonstores Holdings One, LLC (8574); Bonstores Realty One, LLC (8931); Bonstores Holdings Two, LLC (8775); and Bonstores Realty Two, LLC (9075). The headquarters for the above-captioned Debtors is 2801 East Market Street, Bldg. E, York, Pennsylvania 17402.

2	Capitalized terms used but not defined in this Notice have the meanings given thereto in the Approval Order.

3	[First business day that is at least 15 days from notice date]

 

 

 

 

 

 

 

Exhibit 2(b)(xiii)

Description	Counterparty Name and Address	Assignee Name and Address	Cure Amount	Effective Date of Assignment

 

Exhibit 3.1(c)

Wind Down Payment Budget

		Budget
Expense Vendors		$	16.2
Payroll			35.5
Severance			3.4
Retention			-
IBNR			4.0
Sales Tax			7.9	1
Interest			-
Professional Fees			15.8	2
Contingency			1.0
Stub Rent & Free Rent			8.0
503(b)(9)			2.0
Other			-
Total		$	93.8
Plus: Severance and Retention in Agent’s
Expenses			5.7
Total After Severance and Retention in Agent’s Expenses		$	99.5

---

¹ Reduced to account for the fact that $6 million of sales taxes are already included in the DIP Obligations per email from J. Guglielmo dated April 17, 2018.

² For the avoidance of doubt, the Professional Fees shall be paid, without duplication, either as part of the payoff of the DIP Obligations or as part of the Wind Down Payment.

 

The Bon-Ton Stores, Inc.

Exhibit 4.1(c) - Occupancy - Per Diem

Full Company Liquidation Store Closing List

Excludes Distribution Centers

---

 

TOTAL - PER DIEM
Store #          Store Name	Base Rent	Common Area Maintenance / LL Property Insurance	Real Estate Taxes	Insurance	Building Repair & Maint.	Occupancy Other	Security	Communications	Utilities	Supplies	Equip. Leases	Eqiup. Maint	Other Taxes	Total
2 Hanover	1,162	89	362	27	117	20	11	54	194	42	5	4	-	2,087
4 Lewistown	-	-	62	23	78	21	11	41	133	42	5	4	-	419
5 Martinsburg	458	75	-	35	102	22	18	40	172	52	6	4	131	1,115
6 Chambersburg	581	92	95	22	80	18	10	48	194	43	6	4	-	1,193
7 Park City Furn	941	142	138	12	62	545	14	42	95	31	2	4	-	2,027
8 Park City	749	123	1,597	128	385	34	28	52	2,023	275	15	4	-	5,412
12 Cumberland	767	65	142	31	114	23	20	39	228	74	26	4	36	1,568
14 Galleria	2,918	146	171	69	279	108	19	54	390	105	12	4	35	4,308
15 Uniontown	893	111	170	35	121	46	11	44	384	87	10	4	29	1,944
17 Indiana	499	-	84	15	100	19	6	42	155	56	8	4	-	986
18 Warren	305	-	-	21	111	21	10	42	158	37	6	4	-	714
19 Wilton	722	120	227	27	129	39	28	38	409	74	12	4	-	1,829
21 Oil City	693	38	23	24	113	20	7	50	142	41	6	4	-	1,162
22 Brick	2,118	651	507	33	159	59	34	42	254	67	8	4	-	3,936
25 Binghamton	776	-	1,222	32	126	21	14	41	247	59	7	4	-	2,550
27 Williamsport	606	101	151	24	95	18	8	44	196	41	5	4	-	1,294
28 Bloomsburg	455	-	-	19	86	18	26	39	152	44	5	4	-	849
29 Queensgate	1,877	310	450	39	165	166	30	42	320	79	11	4	19	3,513
31 Camp Hill	-	-	415	62	461	206	15	52	513	130	10	6	2	1,872
32 Colonial Park	384	388	295	54	354	110	13	46	443	78	7	4	-	2,176
35 Reading	902	162	985	91	302	205	15	44	510	131	11	4	52	3,415
36 Greensburg	-	126	401	42	262	20	20	50	320	79	9	4	11	1,344
37 Washington	319	-	-	21	119	16	17	43	219	50	6	4	20	832
38 Midway	700	212	225	30	119	27	11	40	194	60	6	4	-	1,629
39 Wilkes-Barre	747	79	505	55	295	133	13	43	521	106	9	4	39	2,549
43 Newburgh	939	52	359	27	102	23	35	39	291	63	6	4	-	1,939
44 Ithaca	1,085	147	301	320	138	24	15	53	244	57	6	4	-	2,393
46 Jamestown	793	67	19	32	95	22	19	43	220	74	14	4	-	1,401
48 Westfield	1,832	534	801	57	128	48	16	44	397	94	13	4	5	3,973
62 Eastern Hills	1,320	54	-	53	336	269	26	38	319	99	10	4	-	2,528
63 Sheridan	715	104	78	47	197	235	38	43	300	85	7	4	-	1,851
64 Southgate	1,066	223	242	40	166	190	19	41	249	80	8	4	-	2,328
65 McKinley	1,038	177	95	41	145	143	23	44	203	82	6	4	-	2,000
67 Lockport	-	-	343	115	340	19	26	47	212	92	9	4	-	1,205
68 Olean	522	51	57	27	108	20	12	42	166	71	12	4	-	1,092
69 Niagara	772	314	-	31	139	118	19	37	262	64	7	4	-	1,766
72 Bethlehem	1,407	70	381	182	223	185	17	42	490	121	25	4	47	3,194
73 S. Allentown	1,191	300	317	61	186	27	14	40	535	98	12	4	47	2,830
76 Easton	560	42	299	45	162	68	13	44	400	88	10	4	26	1,759
78 Quakertown	420	349	296	41	116	164	12	46	324	89	10	4	1	1,873
81 Doylestown	1,668	234	139	52	125	23	30	43	230	174	17	4	1	2,739
84 Elmira	531	105	209	24	102	65	25	50	343	73	10	4	-	1,539
94 Camillus	674	100	375	31	109	21	15	39	172	71	6	4	-	1,618
101 Dayton Mall	9,393	343	605	116	320	35	29	48	692	206	17	4	-	11,808
107 Huber Heights	1,255	143	619	62	178	61	28	39	332	101	12	4	-	2,832
115 Beavercreek	2,496	232	838	165	276	168	31	107	559	140	18	4	-	5,034
117 Piqua	370	126	60	29	94	18	8	40	210	52	8	4	-	1,020
118 Athens	518	52	49	235	86	27	10	44	161	37	10	4	-	1,234
119 New Philadelphia	718	81	289	34	106	198	21	46	380	65	8	4	1	1,952
121 Kettering	622	122	423	51	182	24	40	36	358	82	9	4	-	1,955
125 Lancaster	420	58	241	29	83	19	10	41	311	51	5	4	-	1,272
126 Heath	990	82	240	33	103	134	18	39	285	57	7	4	-	1,992
128 Zanesville	-	89	111	25	141	17	10	39	284	45	7	4	-	771
129 Marion	1,014	138	28	27	94	18	12	41	251	35	6	4	-	1,667
130 Chillicothe	936	125	189	34	102	22	17	59	426	61	7	4	-	1,983
132 Richmond	-	-	199	38	141	96	15	40	357	53	7	4	67	1,017