EXHIBIT 10.2 SECOND AMENDMENT TO CREDIT AGREEMENT AND RATIFICATION OF GUARANTY THIS SECOND AMENDMENT TO CREDIT AGREEMENT AND RATIFICATION OF GUARANTY (this "Second Amendment"), dated as of December 31, 2001, among Gaylord Entertainment Company, a...
EXHIBIT 10.2
SECOND AMENDMENT TO CREDIT AGREEMENT AND RATIFICATION OF GUARANTY
THIS SECOND AMENDMENT TO CREDIT AGREEMENT AND RATIFICATION OF GUARANTY
(this "Second Amendment"), dated as of December 31, 2001, among Xxxxxxx
Entertainment Company, a Delaware corporation ("Borrower"), Opryland
Hotel-Florida Limited Partnership ("Co-Borrower"), the undersigned guarantors
(each a "Guarantor and collectively, the "Guarantors"), Bankers Trust Company
("Administrative Agent"), and Bankers Trust Company, Citicorp Real Estate, Inc.
and CIBC Inc. (collectively, the "Lenders");
WITNESSETH:
WHEREAS, Borrower, Co-Borrower, the Administrative Agent and
the Lenders entered into that certain Credit Agreement dated as of October 9,
2001, as amended by First Amendment to Credit Agreement and Ratification of
Guaranty (the "First Amendment") dated as of November 30, 2001 (as so amended,
the "Credit Agreement");
WHEREAS, Borrower, Co-Borrower and the Lenders desire to
amend the Credit Agreement as set forth in this Second Amendment.
NOW, THEREFORE, in consideration of the foregoing, and for
other valuable consideration the receipt and sufficiency of which are hereby
acknowledged, the parties hereto, intending to be legally bound, agree as
follows:
1. In Section 6.25.4(a) of the Credit Agreement, the "Maximum
Ratio of Consolidated Indebtedness to Consolidated EBITDA" for the "Fiscal
Quarter ending December 31, 2001" is hereby increased from "6.25 to 1.0" to
"6.6 to 1.0".
2. As amended hereby, the Credit Agreement remains in full force
and effect and is hereby ratified and confirmed in all respects, it being
understood that the Administrative Agent and the Lenders hereby expressly
reserve all of their rights and remedies under the Credit Agreement, as amended
hereby, including, without limitation, their rights and remedies under Section
2.20.4 thereof with respect to any Out of Balance Condition (as defined
therein) that may exist by reason of the First Amendment.
3. By signing below, each of the Guarantors (as defined in the
Credit Agreement) (a) acknowledges, consents and agrees to the execution and
delivery by Borrower and Co-Borrower of this Second Amendment; (b) ratifies and
confirms its obligations under the Guaranty (as defined in the Credit
Agreement), which remains unmodified and in full force and effect; (c)
acknowledges and agrees that its obligations under the Guaranty are not
released, diminished, waived, modified, impaired or affected in any manner by
this Second Amendment; (d) represents and warrants that it has received and
reviewed this Second Amendment; and (e) acknowledges and agrees that it has no
claims or offsets against, or defenses or counterclaims to, the Guaranty as a
result of this Second Amendment or otherwise.
4. This Second Amendment may not be amended, modified or
otherwise changed in any manner except by a writing executed by all of the
parties hereto.
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5. This Second Amendment shall be governed by, and construed in
accordance with, the laws of the State of New York.
6. This Second Amendment may be signed in any number of
counterparts by the parties hereto, all of which taken together shall
constitute one and the same instrument.
[SIGNATURE PAGES FOLLOW IMMEDIATELY]
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IN WITNESS WHEREOF, Borrower, Co-Borrower, Administrative Agent,
Lenders and Guarantors have executed this Second Amendment as of the date first
above written.
BORROWER:
GAYLORD ENTERTAINMENT COMPANY
By:
--------------------------------------
Name:
Title:
CO-BORROWER:
OPRYLAND HOTEL - FLORIDA
LIMITED PARTNERSHIP, a Florida limited
partnership
By: Opryland Hospitality, LLC, its
general partner
By: Gaylord Entertainment Company, its
sole member
By:
--------------------------------------
Name:
Title:
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LENDERS:
BANKERS TRUST COMPANY, Individually
and as Administrative Agent
By:
--------------------------------------
Name:
Title:
CITICORP REAL ESTATE, INC.
By:
--------------------------------------
Name:
Title:
CIBC INC.
By:
--------------------------------------
Name:
Title:
GUARANTORS:
COUNTRY MUSIC TELEVISION
INTERNATIONAL, INC., a Delaware
corporation
By:
--------------------------------------
Name:
Title:
XXXXX-XXXX MUSIC PUBLISHING, INC.,
a Tennessee corporation
By:
--------------------------------------
Name:
Title:
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XXXXX-XXXX MUSIC, INC., a Tennessee
corporation
By:
--------------------------------------
Name:
Title:
By:
--------------------------------------
Name:
Title:
XXXXXXX CREATIVE GROUP, INC., a
Delaware corporation
By:
--------------------------------------
Name:
Title:
XXXXXXX PROGRAM SERVICES, INC., a
Delaware corporation
By:
--------------------------------------
Name:
---------------------------------
Title:
--------------------------------
WILDHORSE SALOON ENTERTAINMENT
VENTURES, INC., a Tennessee corporation
By:
--------------------------------------
Name:
---------------------------------
Title:
--------------------------------
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OPRYLAND HOSPITALITY, LLC, a
Tennessee limited liability company
By: Xxxxxxx Entertainment Company, a
Delaware Corporation, its sole member
By:
--------------------------------------
Name:
---------------------------------
Title:
--------------------------------
MILENE MUSIC, INC., a Tennessee
corporation
By:
--------------------------------------
Name:
---------------------------------
Title:
--------------------------------
SPRINGHOUSE MUSIC, INC., a Tennessee
corporation
By:
--------------------------------------
Name:
---------------------------------
Title:
--------------------------------
OPRYLAND THEATRICALS, INC., a
Delaware corporation
By:
--------------------------------------
Name:
---------------------------------
Title:
--------------------------------
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OPRYLAND HOTEL-TEXAS, LIMITED
PARTNERSHIP, a Delaware limited
partnership
By: Opryland Hospitality, LLC, its
general partner
By: Gaylord Entertainment Company,
its sole member
By:
----------------------------------
Name:
-----------------------------
Title:
----------------------------
OPRYLAND HOTEL-TEXAS, LLC, a Delaware
limited liability company
By: Gaylord Entertainment Company, its
sole member
By:
--------------------------------------
Name:
---------------------------------
Title:
--------------------------------
OPRYLAND PRODUCTIONS, INC., a Tennessee
corporation
By:
--------------------------------------
Name:
---------------------------------
Title:
--------------------------------
OPRYLAND ATTRACTIONS, INC., a Delaware
corporation
By:
--------------------------------------
Name:
---------------------------------
Title:
--------------------------------
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HICKORY RECORDS, INC., a Tennessee
corporation
By:
--------------------------------------
Name:
---------------------------------
Title:
--------------------------------
CORPORATE MAGIC, INC., a Texas
corporation
By:
--------------------------------------
Name:
---------------------------------
Title:
--------------------------------
CCK, INC., a Texas corporation
By:
--------------------------------------
Name:
---------------------------------
Title:
--------------------------------
XXXXXXX INVESTMENTS, INC., a Delaware
corporation
By:
--------------------------------------
Name:
---------------------------------
Title:
--------------------------------
XXXXX XXX XXXX TOURS, INC., a Tennessee
corporation
By:
--------------------------------------
Name:
---------------------------------
Title:
--------------------------------
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