Salamander -- NOT THE FONT -- has a similar style and similar swash letters, including a several Swash _M_ gluphs, including one that is quite close:
http://www.myfonts.com/fonts/fenotype/salamander/regular/glyphs.html#glyphs/566437/51
and several swash _k_ glyphs, including:
http://www.myfonts.com/fonts/fenotype/salamander/regular/glyphs.html#glyphs/566437/147

Private font for Ulta.

The clean version of these distressed letters is H74 Ocelot Piss, designed by Joshua Smith in 2012.
Compare your image to:

Remove stencil effect and second crossbar on _H_ and it looks like a match to the pre-distressed letters.

This style also includes ITC Blaze. Note that this IS NOT THE FONT.

This style also includes Slapjack. Note that this IS NOT THE FONT.

Four instances of _e_, all different including the non-connecting top half. Which implies this is calligrapy.
There are several fonts that could be used to approximate _Tennessee_.
This style includes Styx. Note that this IS NOT THE FONT.

The two fonts are identical, including the capital _R_.
When the X height of the two fonts is set to the same height, all of the point values in the outlines match.
Also the two fonts make identical unicode errors for the same 21 glyphs. After these are corrected, both fonts have 245 glyphs.
East Bloc Closed has an internal date of 1995, AgitProp has 1998.
Which implies that AgitProp is a clone of the digital East Bloc Closed. Presumably a copyright violation.

A Google Webfont

Texture added

_GENERALS_
Closest that I found is LHF Boston Ballpark, but THIS IS NOT THE FONT.

_GENERALS_
Custom lettering and/or pivate font for the club.
Some similarities to IFC Rail Road, but THIS IS NOT THE FONT.

_RUSSIA_
East Bloc Closed by Grant Hutchinson, Image Club
See character set at
http://www.identifont.com/find?font=East+Bloc+Closed&q=Go

Recently discussed at
http://www.dafont.com/forum/read/315020/paramore-after-laughter-font

Gothic Thirteen would also work to approximate LISTED
Weight is closer than Korolev Condensed Heavy, but rhs of _D_ is slightly curved rather than parallel as in LISTED

I changed the link to the alt _m_
Note that the tail on the alt _y_ is clipped

No match.
Eclat has a similar weight and style, but it is NOT THE FONT.