INCREASE SUPPLEMENT
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INCREASE SUPPLEMENT, dated as of September 10, 1998 to the Credit and
Guarantee Agreement, dated as of February 26, 1998, by and among SFX
Entertainment, Inc. (the "BORROWER"), the Subsidiary Guarantors, the Lenders
party thereto, Xxxxxxx Xxxxx Credit Partners L.P. and Xxxxxx Commercial Paper
Inc., as Co-Documentation Agents, and The Bank of New York, as Administrative
Agent (as the same may be amended, supplemented or otherwise modified from time
to time, the "CREDIT AGREEMENT"). Capitalized terms used herein that are
defined in the Credit Agreement shall have the meanings therein defined.
1. Pursuant to Section 2.3(f) of the Credit Agreement, the Borrower
hereby proposes to increase (the "INCREASE") the Aggregate Revolving Commitment
from $150,000,000 to $200,000,000.
2. The following Lender has been invited by the Borrower, and is ready,
willing and able to increase its Revolving Commitment as follows:
Revolving Commitment
Name of Lender (after giving effect to the Increase)
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The Bank of New York $90,000,000
3. The proposed effective date for the Increase is September 10, 1998.
4. The Borrower hereby represents and warrants to the Administrative
Agent, each Lender and each such proposed institution that (i) immediately
before and after giving effect to the Increase no Default exists or would exist
and (ii) immediately after giving effect thereto, the Aggregate Revolving
Commitment shall not have been increased pursuant to Section 2.3(f) of the
Credit Agreement in an aggregate amount greater than $50,000,000.
5. Pursuant to Section 2.3(f) of the Credit Agreement, by execution and
delivery of this Supplement, together with the satisfaction of all of the other
requirements set forth in Section 2.3(f), the undersigned Lender shall have, on
and as of the effective date of the Increase, a Revolving Commitment equal to
the amount set forth above next to its name.
IN WITNESS WHEREOF, the parties hereto have caused this Increase
Supplement to be duly executed and delivered by their proper and duly
authorized officers as of the day and year first above written.
SFX ENTERTAINMENT, INC.
By: /s/ Xxxxxx X. Xxxxxx
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Name: Xxxxxx X. Xxxxxx
Title: Vice President and CFO
THE BANK OF NEW YORK, in its
individual capacity and as Administrative
Agent
By: /s/ Xxxx X. Xxxxxx
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Name: Xxxx X. Xxxxxx
Title: Vice President
