Contract
Exhibit 10.17
Execution Version
AMENDMENT NO. 1 dated as of May 10, 2007 (this “Amendment”), amending the
INTERCREDITOR AGREEMENT dated as of August 23, 2006 (the “Intercreditor Agreement”) among
THE CIT GROUP/BUSINESS CREDIT, INC., as Administrative Agent (and together with its successors and
assigns, in such capacity, the “Administrative Agent” or the “First Priority
Agent”), THE BANK OF NEW YORK, as Trustee, Collateral Agent and Second Priority Agent (and
together with its successors and assigns, in such capacities, the “Trustee” or the
“Second Priority Agent”), Broadview Networks Holdings, Inc., a Delaware corporation (the
“Company”), and its Subsidiaries listed on the signature pages hereto (such Subsidiaries,
together with the Company and each of its other Subsidiaries that become parties hereto, the
“Grantors”). Capitalized terms used but not otherwise defined herein shall have the
meanings ascribed to them in the Intercreditor Agreement.
RECITALS
WHEREAS, the Grantors, the Administrative Agent and the Trustee have entered into the
Intercreditor Agreement in connection with the Credit Agreement and the Indenture;
WHEREAS, the Company proposes to issue additional Notes in accordance with the provisions of
the Indenture and as permitted by the Indenture and the Credit Agreement;
WHEREAS, in connection with such issuance, the Grantors have requested an amendment to the
Intercreditor Agreement in order that the provisions of the Intercreditor Agreement shall be
consistent with the provisions of the Indenture and the Credit Agreement in respect of such
additional Notes; and
WHEREAS, the Administrative Agent and the Trustee are willing, on the terms and subject to the
conditions set forth below, to agree to such amendment of the Intercreditor Agreement (the
Intercreditor Agreement, after giving effect to the amendment contained herein, being referred to
as the “Amended Intercreditor Agreement”);
NOW, THEREFORE, the undersigned agree as follows:
ARTICLE I.
AMENDMENT TO THE INTERCREDITOR AGREEMENT
SECTION 1.1. Section 1(a) of the Intercreditor Agreement is amended to change the amount
“$210,000,000” appearing in the definition of the term “Second Priority Claims” in such Section to
the amount “$305,175,000.”
Amendment No1 to the Intercreditor Agreement
ARTICLE II.
MISCELLANEOUS
SECTION 2.1. Full Force and Effect; Limited Amendment and Waiver. Except as
expressly modified hereby, all of the representations, warranties, terms, covenants, conditions and
other provisions of the Intercreditor Agreement shall remain unamended and unwaived and shall
continue to be, and shall remain, in full force and effect in accordance with their respective
terms. The amendment set forth herein shall be limited precisely as provided for herein to the
provision expressly amended herein and shall not be deemed to be an amendment to, consent to,
waiver of or modification of any other term or provision of the Intercreditor Agreement or of any
transaction or further or future action which would require the consent of the Administrative Agent
and the Trustee under the Intercreditor Agreement.
SECTION 2.2. Construction. This Amendment is executed pursuant to the Intercreditor
Agreement and shall be construed, administered and applied in accordance with all of the terms and
provisions of the Amended Intercreditor Agreement.
SECTION 2.3. Fees and Expenses. The Grantors shall pay all reasonable out-of-pocket
expenses incurred by the Administrative Agent in connection with the preparation, negotiation,
execution and delivery of this Amendment, whether or not this Amendment becomes effective.
SECTION 2.4. Headings. The various headings of this Amendment are inserted for
convenience only and shall not affect the meaning or interpretation of this Amendment or any
provisions hereof.
SECTION 2.5. Execution in Counterparts. This Amendment may be executed by the
parties hereto in several counterparts, each of which shall be deemed to be an original and all of
which shall constitute together but one and the same agreement.
SECTION 2.6. Cross-References. References in this Amendment to any Article or
Section are, unless otherwise specified or otherwise required by the context, to such Article or
Section of this Amendment.
SECTION 2.7. Successors and Assigns. This Amendment shall be binding upon and inure
to the benefit of the parties hereto and their respective successors and assigns.
SECTION 2.8. Severability. Any provision of this Amendment held to be invalid,
illegal, ineffective or unenforceable in any jurisdiction shall, as to such jurisdiction, be
ineffective to the extent of such invalidity, illegality, ineffectiveness or unenforceability
without affecting the validity, legality, effectiveness and enforceability of the remaining
provisions hereof; and the invalidity of a particular provision in a particular jurisdiction shall
not invalidate such provision in any other jurisdiction.
SECTION 2.9. GOVERNING LAW. THIS AMENDMENT SHALL BE DEEMED TO BE A CONTRACT MADE
UNDER AND GOVERNED BY THE LAWS OF
THE STATE OF NEW YORK, INCLUDING, WITHOUT LIMITATION, SECTIONS 5-1401 AND 5-1402 OF THE NEW
YORK GENERAL OBLIGATIONS LAW.
[Signature pages follow.]
Execution Version
IN WITNESS WHEREOF, the parties hereto have caused their duly authorized officers to execute
and deliver this Amendment as of the date first above written.
FIRST PRIORITY AGENT: THE CIT GROUP/BUSINESS CREDIT, INC., as First Priority Agent |
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By: | /s/ Xxxxxx Xxxxx XxXxxxxx | |||
Name: | Xxxxxx Xxxxx XxXxxxxx | |||
Title: | Vice President | |||
Address: 00 Xxxx Xxxxx-xxxxxx Xxxxxx Xxx Xxxx, Xxx Xxxx 00000 Attention: Portfolio Manager SECOND PRIORITY AGENT: THE BANK OF NEW YORK, as Trustee, Collateral Agent and Second Priority Agent |
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By: | /s/ Xxxxxx X. Xxxxxxx | |||
Name: | Xxxxxx X. Xxxxxxx | |||
Title: | Vice President | |||
Address: 000 Xxxxxxx Xxxxxx, 0X Xxx Xxxx, Xxx Xxxx 00000 Facsimile no.: 000 000 0000 Attention: Xxxxxx Xxxxxxx |
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GRANTORS: BROADVIEW NETWORKS HOLDINGS, INC. |
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By: | /s/ Xxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxx | |||
Title: | CFO and Treasurer | |||
Address: 000 Xxxxxxxxxxx Xxxxxx 0xx Xxxxx – Xxxxx X000 Xxx Xxxxx, Xxx Xxxx 00000 With a copy to: Xxxxxxx Xxxx & Xxxxxxxxx LLP 000 Xxxxxxx Xxxxxx Xxx Xxxx, Xxx Xxxx 00000 Facsimile no.: 000 000 0000 Attention: Xxxxxxxxx X. Xxxxxxxx, III BRIDGECOM HOLDINGS, INC. |
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By: | /s/ Xxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxx | |||
Title: | Secretary and Treasurer | |||
Address: 000 Xxxxxxxxxxx Xxxxxx 0xx Xxxxx – Xxxxx X000 Xxx Xxxxx, Xxx Xxxx 00000 With a copy to: Xxxxxxx Xxxx & Xxxxxxxxx LLP 000 Xxxxxxx Xxxxxx Xxx Xxxx, Xxx Xxxx 00000 Facsimile no.: 000 000 0000 Attention: Xxxxxxxxx X. Xxxxxxxx, III |
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BRIDGECOM INTERNATIONAL, INC. |
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By: | /s/ Xxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxx | |||
Title: | Secretary and Treasurer | |||
Address: 000 Xxxxxxxxxxx Xxxxxx 0xx Xxxxx – Xxxxx X000 Xxx Xxxxx, Xxx Xxxx 00000 With a copy to: Xxxxxxx Xxxx & Xxxxxxxxx LLP 000 Xxxxxxx Xxxxxx Xxx Xxxx, Xxx Xxxx 00000 Facsimile no.: 000 000 0000 Attention: Xxxxxxxxx X. Xxxxxxxx, III BRIDGECOM SOLUTIONS GROUP, INC. |
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By: | /s/ Xxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxx | |||
Title: | Secretary and Treasurer | |||
Address: 000 Xxxxxxxxxxx Xxxxxx 0xx Xxxxx – Xxxxx X000 Xxx Xxxxx, Xxx Xxxx 00000 With a copy to: Xxxxxxx Xxxx & Xxxxxxxxx LLP 000 Xxxxxxx Xxxxxx Xxx Xxxx, Xxx Xxxx 00000 Facsimile no.: 000 000 0000 Attention: Xxxxxxxxx X. Xxxxxxxx, III |
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BROADVIEW NETWORKS, INC. |
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By: | /s/ Xxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxx | |||
Title: | Secretary and Treasurer | |||
Address: 000 Xxxxxxxxxxx Xxxxxx 0xx Xxxxx – Xxxxx X000 Xxx Xxxxx, Xxx Xxxx 00000 With a copy to: Xxxxxxx Xxxx & Xxxxxxxxx LLP 000 Xxxxxxx Xxxxxx Xxx Xxxx, Xxx Xxxx 00000 Facsimile no.: 000 000 0000 Attention: Xxxxxxxxx X. Xxxxxxxx, III BROADVIEW NETWORKS OF MASSACHUSETTS, INC. |
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By: | /s/ Xxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxx | |||
Title: | Secretary and Treasurer | |||
Address: 000 Xxxxxxxxxxx Xxxxxx 0xx Xxxxx – Xxxxx X000 Xxx Xxxxx, Xxx Xxxx 00000 With a copy to: Xxxxxxx Xxxx & Xxxxxxxxx LLP 000 Xxxxxxx Xxxxxx Xxx Xxxx, Xxx Xxxx 00000 Facsimile no.: 000 000 0000 Attention: Xxxxxxxxx X. Xxxxxxxx, III |
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BROADVIEW NETWORKS OF VIRGINIA, INC. |
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By: | /s/ Xxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxx | |||
Title: | Secretary and Treasurer | |||
Address: 000 Xxxxxxxxxxx Xxxxxx 0xx Xxxxx – Xxxxx X000 Xxx Xxxxx, Xxx Xxxx 00000 With a copy to: Xxxxxxx Xxxx & Xxxxxxxxx LLP 000 Xxxxxxx Xxxxxx Xxx Xxxx, Xxx Xxxx 00000 Facsimile no.: 000 000 0000 Attention: Xxxxxxxxx X. Xxxxxxxx, III BROADVIEW NP ACQUISITION CORP. |
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By: | /s/ Xxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxx | |||
Title: | Secretary and Treasurer | |||
Address: 000 Xxxxxxxxxxx Xxxxxx 0xx Xxxxx – Xxxxx X000 Xxx Xxxxx, Xxx Xxxx 00000 With a copy to: Xxxxxxx Xxxx & Xxxxxxxxx LLP 000 Xxxxxxx Xxxxxx Xxx Xxxx, Xxx Xxxx 00000 Facsimile no.: 000 000 0000 Attention: Xxxxxxxxx X. Xxxxxxxx, III |
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BV-BC ACQUISITION CORPORATION |
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By: | /s/ Xxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxx | |||
Title: | Secretary and Treasurer | |||
Address: 000 Xxxxxxxxxxx Xxxxxx 0xx Xxxxx – Xxxxx X000 Xxx Xxxxx, Xxx Xxxx 00000 With a copy to: Xxxxxxx Xxxx & Xxxxxxxxx LLP 000 Xxxxxxx Xxxxxx Xxx Xxxx, Xxx Xxxx 00000 Facsimile no.: 000 000 0000 Attention: Xxxxxxxxx X. Xxxxxxxx, III OPEN SUPPORT SYSTEMS LLC |
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By: | /s/ Xxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxx | |||
Title: | Secretary and Treasurer | |||
Address: 000 Xxxxxxxxxxx Xxxxxx 0xx Xxxxx – Xxxxx X000 Xxx Xxxxx, Xxx Xxxx 00000 With a copy to: Xxxxxxx Xxxx & Xxxxxxxxx LLP 000 Xxxxxxx Xxxxxx Xxx Xxxx, Xxx Xxxx 00000 Facsimile no.: 000 000 0000 Attention: Xxxxxxxxx X. Xxxxxxxx, III |
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TRUCOM CORPORATION |
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By: | /s/ Xxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxx | |||
Title: | Secretary and Treasurer | |||
Address: 000 Xxxxxxxxxxx Xxxxxx 0xx Xxxxx – Xxxxx X000 Xxx Xxxxx, Xxx Xxxx 00000 With a copy to: Xxxxxxx Xxxx & Xxxxxxxxx LLP 000 Xxxxxxx Xxxxxx Xxx Xxxx, Xxx Xxxx 00000 Facsimile no.: 000 000 0000 Attention: Xxxxxxxxx X. Xxxxxxxx, III ATX COMMUNICATIONS, INC. |
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By: | /s/ Xxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxx | |||
Title: | Chief Financial Officer | |||
Address: 0000 Xxxxxxxxxxx Xxxx. Xxxx xx Xxxxxxx, XX 00000 CORECOMM-ATX, INC. |
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By: | /s/ Xxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxx | |||
Title: | Secretary and Treasurer | |||
Address: 0000 Xxxxxxxxxxx Xxxx. Xxxx xx Xxxxxxx, XX 00000 |
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ATX LICENSING, INC. |
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By: | /s/ Xxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxx | |||
Title: | Secretary and Treasurer | |||
Address: 0000 Xxxxxxxxxxx Xxxx. Xxxx xx Xxxxxxx, XX 00000 ATX TELECOMMUNICATIONS SERVICES OF VIRGINIA, LLC |
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By: | /s/ Xxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxx | |||
Title: | Secretary and Treasurer | |||
Address: 0000 Xxxxxxxxxxx Xxxx. Xxxx xx Xxxxxxx, XX 00000 CORECOMM SERVICES, LLC |
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By: | /s/ Xxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxx | |||
Title: | Secretary and Treasurer | |||
Address: 0000 Xxxxxxxxxxx Xxxx. Xxxx xx Xxxxxxx, XX 00000 |
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CORECOMM COMMUNICATIONS, LLC |
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By: | /s/ Xxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxx | |||
Title: | Secretary and Treasurer | |||
Address: 0000 Xxxxxxxxxxx Xxxx. Xxxx xx Xxxxxxx, XX 00000 CCL HISTORICAL, INC. |
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By: | /s/ Xxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxx | |||
Title: | Secretary and Treasurer | |||
Address: 0000 Xxxxxxxxxxx Xxxx. Xxxx xx Xxxxxxx, XX 00000 CORECOMM NEWCO, INC. |
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By: | /s/ Xxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxx | |||
Title: | Secretary and Treasurer | |||
Address: 0000 Xxxxxxxxxxx Xxxx. Xxxx xx Xxxxxxx, XX 00000 |
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FCC HOLDCO I, INC. |
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By: | /s/ Xxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxx | |||
Title: | Secretary and Treasurer | |||
Address: 0000 Xxxxxxxxxxx Xxxx. Xxxx xx Xxxxxxx, XX 00000 CORECOMM-VOYAGER, INC. |
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By: | /s/ Xxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxx | |||
Title: | Secretary and Treasurer | |||
Address: 0000 Xxxxxxxxxxx Xxxx. Xxxx xx Xxxxxxx, XX 00000 CORECOMM INTERNET GROUP, INC. |
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By: | /s/ Xxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxx | |||
Title: | Secretary and Treasurer | |||
Address: 0000 Xxxxxxxxxxx Xxxx. Xxxx xx Xxxxxxx, XX 00000 |
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VOYAGER INFORMATION NETWORKS, INC. |
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By: | /s/ Xxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxx | |||
Title: | Secretary and Treasurer | |||
Address: 0000 Xxxxxxxxxxx Xxxx. Xxxx xx Xxxxxxx, XX 00000 CCL HISTORICAL ILLINOIS, INC. |
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By: | /s/ Xxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxx | |||
Title: | Secretary and Treasurer | |||
Address: 0000 Xxxxxxxxxxx Xxxx. Xxxx xx Xxxxxxx, XX 00000 CCL HISTORICAL INDIANA, INC. |
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By: | /s/ Xxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxx | |||
Title: | Secretary and Treasurer | |||
Address: 0000 Xxxxxxxxxxx Xxxx. Xxxx xx Xxxxxxx, XX 00000 |
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CCL HISTORICAL MARYLAND, INC. |
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By: | /s/ Xxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxx | |||
Title: | Secretary and Treasurer | |||
Address: 0000 Xxxxxxxxxxx Xxxx. Xxxx xx Xxxxxxx, XX 00000 CCL HISTORICAL MASSACHUSETTS, INC. |
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By: | /s/ Xxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxx | |||
Title: | Secretary and Treasurer | |||
Address: 0000 Xxxxxxxxxxx Xxxx. Xxxx xx Xxxxxxx, XX 00000 CCL HISTORICAL MICHIGAN, INC. |
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By: | /s/ Xxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxx | |||
Title: | Secretary and Treasurer | |||
Address: 0000 Xxxxxxxxxxx Xxxx. Xxxx xx Xxxxxxx, XX 00000 |
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CCL HISTORICAL MISSOURI, INC. |
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By: | /s/ Xxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxx | |||
Title: | Secretary and Treasurer | |||
Address: 0000 Xxxxxxxxxxx Xxxx. Xxxx xx Xxxxxxx, XX 00000 CCL HISTORICAL NEW JERSEY, INC. |
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By: | /s/ Xxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxx | |||
Title: | Secretary and Treasurer | |||
Address: 0000 Xxxxxxxxxxx Xxxx. Xxxx xx Xxxxxxx, XX 00000 CCL HISTORICAL NEW YORK, INC. |
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By: | /s/ Xxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxx | |||
Title: | Secretary and Treasurer | |||
Address: 0000 Xxxxxxxxxxx Xxxx. Xxxx xx Xxxxxxx, XX 00000 |
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CCL HISTORICAL OHIO, INC. |
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By: | /s/ Xxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxx | |||
Title: | Secretary and Treasurer | |||
Address: 0000 Xxxxxxxxxxx Xxxx. Xxxx xx Xxxxxxx, XX 00000 CCL HISTORICAL PENNSYLVANIA, INC. |
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By: | /s/ Xxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxx | |||
Title: | Secretary and Treasurer | |||
Address: 0000 Xxxxxxxxxxx Xxxx. Xxxx xx Xxxxxxx, XX 00000 CCL HISTORICAL RHODE ISLAND, INC. |
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By: | /s/ Xxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxx | |||
Title: | Secretary and Treasurer | |||
Address: 0000 Xxxxxxxxxxx Xxxx. Xxxx xx Xxxxxxx, XX 00000 |
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CCL HISTORICAL VERMONT, INC. |
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By: | /s/ Xxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxx | |||
Title: | Secretary and Treasurer | |||
Address: 0000 Xxxxxxxxxxx Xxxx. Xxxx xx Xxxxxxx, XX 00000 CCL HISTORICAL WEST VIRGINIA, INC. |
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By: | /s/ Xxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxx | |||
Title: | Secretary and Treasurer | |||
Address: 0000 Xxxxxxxxxxx Xxxx. Xxxx xx Xxxxxxx, XX 00000 XXXXXXXXX COMMUNICATIONS CORP. |
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By: | /s/ Xxxxx Xxxxxx | |||
Name: | Xxxxx Xxxxxx | |||
Title: | Secretary and Treasurer | |||
Address: 0000 Xxxxxxxxxxx Xxxx. Xxxx xx Xxxxxxx, XX 00000 |
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