FOURTH AMENDMENT TO THE SECOND AMENDED AND RESTATED CREDIT AGREEMENT
Exhibit 10.2
FOURTH
AMENDMENT TO THE
SECOND AMENDED AND RESTATED CREDIT AGREEMENT
SECOND AMENDED AND RESTATED CREDIT AGREEMENT
THIS
FOURTH AMENDMENT TO THE SECOND AMENDED AND RESTATED CREDIT AGREEMENT (this
“Amendment”) is entered into as of June 12,
2008, by and between ROYAL STREET
COMMUNICATIONS, LLC (“Xxxxx Xxxxxx”), XXXXX XXXXXX COMMUNICATIONS CALIFORNIA, LLC, ROYAL
STREET BTA 262, LLC, ROYAL STREET COMMUNICATIONS FLORIDA, LLC, ROYAL STREET BTA 159, LLC, ROYAL
STREET BTA 212, LLC, ROYAL STREET BTA 239, LLC, ROYAL STREET BTA 289, LLC and ROYAL STREET BTA 336,
LLC, each a Delaware limited liability company (individually and collectively, jointly and
severally, the “Borrower”), and METROPCS
WIRELESS, INC., a Delaware corporation
(“Lender” or “MetroPCS”).
WITNESSETH:
WHEREAS, Borrower and the Lender are parties to that certain Second Amended and Restated
Credit Agreement, executed on December 15, 2005 as of December 22,
2004 (the “Second Amended and Restated Credit Agreement”), as amended by the First
Amendment to the Second Amended and Restated Credit Agreement, dated as of November 2, 2006, as
amended by the Second Amendment to the Second Amended and Restated Credit Agreement, dated as of
August 29, 2007, and as amended by the Third Amendment to the Second Amended and Restated Credit
Agreement, dated as of April 2, 2008 (the Second Amended and Restated Credit Agreement, as amended,
and as may be amended, restated, supplemented or otherwise modified from time to time, the
“Credit Agreement”); and
WHEREAS, Royal Street, as Administrative Borrower under the Credit Agreement, has requested,
and MetroPCS has agreed, to amend the Credit Agreement to provide for an increase in the principal
amount of the Loan Commitment Amount from $935,000,000 to $1,010,000,000 in accordance with and
subject to the terms and conditions set forth herein;
NOW THEREFORE, in consideration of the premises set forth above, the terms and conditions
contained herein and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereby agree, subject to the conditions precedent to this
Amendment and intending to be legally bound, to amend the Credit Agreement as follows:
1. Capitalized Terms. All capitalized terms used herein shall have the meanings
ascribed thereto in the Credit Agreement, as amended hereby, except as otherwise defined or limited
herein.
2. Amendment to Section 1.
(a) Section 1 of the Credit Agreement, Defined Terms, is hereby modified and
amended by deleting the definition of “Loan Commitment Amount” in its entirety and
substituting the following in lieu thereof:
“Loan
Commitment Amount” shall mean $1,010,000,000.00 or the maximum amount
that Lender is permitted to lend to Borrower pursuant to the Lender Credit
Facility.
3. No Other Amendments. Except for the amendment set forth in Section 2 hereof, the
text of the Credit Agreement and the other Loan Documents shall remain unmodified and in full force
and effect.
4. Representations and Warranties. Borrower agrees, represents and warrants in favor
of Lender as follows:
(a) This Amendment has been executed and delivered by a duly authorized representative
of Borrower, and the Credit Agreement, as modified and amended by this Amendment,
constitutes a legal, valid and binding obligation of Borrower and is enforceable against
Borrower in accordance with its terms, except as may be limited by (i) applicable
bankruptcy, insolvency, reorganization, moratorium or other similar laws or (ii) general
principles of equity;
(b) Except as reflected on Exhibit 1, each representation or warranty of Borrower set
forth in the Credit Agreement is hereby restated and reaffirmed as true and correct in all
material respects on and as of the Effective Date, and after giving effect to this
Amendment, as if such representation or warranty were made on and as of the Effective Date
of, and after giving effect to, this Amendment;
(c) Except as reflected on Exhibit 2, no Event of Default or other event which if not
timely cured or corrected would with the passage of time become an Event of Default with
respect to Borrower has occurred and is continuing; and
(d) As of the date hereof, Borrower is solvent after giving effect to the transactions
contemplated herein.
5. Conditions to Effectiveness. This Amendment will be effective as of the date
first written above (the “Amendment Effective Date”), subject to the occurrence of each of
the following on or before such date:
(a) Lender shall have received counterparts hereof duly executed by Borrower; and
(b) Except as expressly provided in Exhibit 1 hereto, all of the representations and
warranties of Borrower set forth in the Credit Agreement and this Amendment shall be true
and correct in all material respects with the same effect as though such representations
and warranties had been made on and as of the Amendment Effective Date as though made on
and as of such date.
6. Effect on the Credit Agreement. Except as specifically amended by Section 2
hereof, the Credit Agreement and the Loan Documents shall remain in full force and effect, and are
hereby ratified, reaffirmed and confirmed. This Amendment shall be deemed to be a Loan Document
for all purposes.
7. Counterparts. This Amendment may be executed in any number of separate
counterparts and by the different parties hereto on separate counterparts, each of which shall be
deemed an original and all of which, taken together, shall be deemed to constitute one and the same
instrument. In proving this Amendment in any judicial proceedings, it shall not be necessary to
produce or account for more than one such counterpart signed by the party against whom such
enforcement is sought. Delivery of an executed counterpart of this Amendment by telefacsimile or
other electronic method of
transmission shall be equally as effective as delivery of an original executed counterpart of
this Amendment.
8. Law of Contract. This Amendment shall be governed and construed and interpreted
in accordance with the laws of the State of New York, without regard to its conflict of laws
principles.
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]
IN WITNESS WHEREOF, this Amendment has been duly executed as of the day and year first written
above.
BORROWER: | ROYAL STREET COMMUNICATIONS, LLC, | |||||||
a Delaware limited liability company | ||||||||
By: | /s/ Xxxxxx X. Xxxxxx | |||||||
Name: | Xxxxxx X. Xxxxxx | |||||||
Title: | Chief Executive Officer and Chairman of the Management Committee |
ROYAL STREET COMMUNICATIONS CALIFORNIA, LLC, | ||||||||
a Delaware limited liability company | ||||||||
By: | Royal Street Communications, LLC, | |||||||
its sole member | ||||||||
By: | /s/ Xxxxxx X. Xxxxxx | |||||||
Name: | Xxxxxx X. Xxxxxx | |||||||
Title: | Chief Executive Officer and Chairman of the Management Committee | |||||||
ROYAL STREET BTA 262, LLC, | ||||||||
a Delaware limited liability company | ||||||||
By: | Xxxxx Xxxxxx Xxxxxxxxxxxxxx Xxxxxxxxxx, LLC, its sole member |
|||||||
By: | /s/ Xxxxxx X. Xxxxxx | |||||||
Name: | Xxxxxx X. Xxxxxx | |||||||
Title: | Chief Executive Officer |
ROYAL STREET COMMUNICATIONS FLORIDA, LLC, | ||||||||
a Delaware limited liability company | ||||||||
By: | Royal Street Communications, LLC, | |||||||
its sole member | ||||||||
By: | /s/ Xxxxxx X. Xxxxxx | |||||||
Name: | Xxxxxx X. Xxxxxx | |||||||
Title: | Chief Executive Officer and Chairman of the Management Committee |
ROYAL STREET BTA 159, LLC, | ||||||||
a Delaware limited liability company | ||||||||
By: | Xxxxx Xxxxxx Xxxxxxxxxxxxxx Xxxxxxx, LLC, | |||||||
its sole member | ||||||||
By: | /s/ Xxxxxx X. Xxxxxx | |||||||
Name: | Xxxxxx X. Xxxxxx | |||||||
Title: | Chief Executive Officer |
ROYAL STREET BTA 212, LLC, | ||||||||
a Delaware limited liability company | ||||||||
By: | Xxxxx Xxxxxx Xxxxxxxxxxxxxx Xxxxxxx, LLC, its sole member |
|||||||
By: | /s/ Xxxxxx X. Xxxxxx | |||||||
Name: | Xxxxxx X. Xxxxxx | |||||||
Title: | Chief Executive Officer | |||||||
ROYAL STREET BTA 239, LLC, | ||||||||
a Delaware limited liability company | ||||||||
By: | Xxxxx Xxxxxx Xxxxxxxxxxxxxx Xxxxxxx, LLC, its sole member |
|||||||
By: | /s/ Xxxxxx X. Xxxxxx | |||||||
Name: | Xxxxxx X. Xxxxxx | |||||||
Title: | Chief Executive Officer |
ROYAL STREET BTA 289, LLC, | ||||||||
a Delaware limited liability company | ||||||||
By: | Xxxxx Xxxxxx Xxxxxxxxxxxxxx Xxxxxxx, LLC, its sole member |
|||||||
By: | /s/ Xxxxxx X. Xxxxxx | |||||||
Name: | Xxxxxx X. Xxxxxx | |||||||
Title: | Chief Executive Officer |
ROYAL STREET BTA 336, LLC, | ||||||||
a Delaware limited liability company | ||||||||
By: | Xxxxx Xxxxxx Xxxxxxxxxxxxxx Xxxxxxx, LLC, | |||||||
its sole member | ||||||||
By: | /s/ Xxxxxx X. Xxxxxx | |||||||
Name: | Xxxxxx X. Xxxxxx | |||||||
Title: | Chief Executive Officer |
LENDER: | METROPCS WIRELESS, INC., | |||||||
a Delaware corporation | ||||||||
By: | /s/ Xxxxx X. Xxxxxxxx | |||||||
Name: | Xxxxx X. Xxxxxxxx | |||||||
Title: | President and Chief Executive Officer |