SENIOR NOTES EXCHANGE AGREEMENT
Exhibit
10.1
SENIOR
NOTES
EXCHANGE
AGREEMENT
This
SENIOR NOTES EXCHANGE AGREEMENT (the “Agreement”)
is
entered into as of March 13, 2006, by and among Charter Communications
Operating, LLC, a Delaware limited liability company (“CCO”),
Charter Communications Operating Capital Corp., a Delaware corporation (together
with CCO, the “CCO
Issuers”),
Renaissance Media (Louisiana) LLC, a Delaware limited liability company
(“Louisiana”),
Renaissance Media (Tennessee) LLC, a Delaware limited liability company
("Tennessee"),
Renaissance Media Capital Corporation, a Delaware corporation (together with
Louisiana and Tennessee, the “Renaissance
Issuers”),
and
Citadel Equity Fund Ltd(the “Holder”),
with
reference to the following facts (capitalized terms used but not otherwise
defined herein shall have the meanings set forth in Exhibit A
hereto):
A.
The
Holder is the beneficial owner of an aggregate principal amount of $37,233,000
10% Senior Discount Notes due 2008 (the “Renaissance
Notes”)
issued
by the Renaissance Issuers;
B.
The
Holder wishes to exchange its Renaissance Notes for an initial aggregate
principal amount of $37,372,000 new 8-3/8% Senior Second Lien Notes due 2014
issued by the CCO Issuers (the “New
CCO Notes”)
and
having terms and conditions identical to the CCO Issuers’ currently outstanding
8-3/8% Senior Second Lien Notes due 2014 ("Existing
CCO Notes"),
on
the basis set forth in this Agreement; and
C.
The
CCO Issuers wish to effectuate such exchange on the terms and conditions set
forth herein;
NOW,
THEREFORE, in consideration of the foregoing premises and the mutual covenants
hereinafter contained, the parties hereto agree as follows:
1. Exchange.
Subject
to the terms and conditions of this Agreement, the Holder agrees to sell, and
the CCO Issuers agree to purchase, the Renaissance Notes in exchange for New
CCO
Notes, on the basis set forth in this Agreement (such transactions in this
Section 1, the “Exchange”).
At
the Closing (as defined below), or thereafter in the case of interest payments,
the following transactions shall occur:
1.1 The
Holder shall sell, assign and transfer to the CCO Issuers (or their designee)
all right, title and interest in and to, and all Claims in respect of, or
arising or having arisen as a result of the Holder’s status as a holder of, all
of the Holder’s Renaissance Notes, free and clear of all Liens, and cause the
Renaissance Notes to be credited to the securities account maintained with
Depository Trust Company ("DTC")
by a
securities intermediary acting for the CCO Issuers (or their designee) (the
"CCO
Securities Account").
1.2 CCO
shall
pay or cause to be paid to the Holder in cash the amount of $374,987.74 (three
hundred and seventy-four thousand nine hundred and
eighty-seven
United States dollars and seventy-four cents) as calculated in accordance with
Schedule 1.2 of this Agreement and assuming a closing date of March 13, 2006.
In
the event such Closing occurs on March 14, 2006, the Parties will adjust the
cash payment by an amount not in excess of $1,700 (one thousand seven hundred
United States dollars) and in accordance with the formula in Schedule 1.2.
Such
payment shall be made by wire transfer upon delivery of all the Renaissance
Notes.
1.3 In
exchange for the transfer, sale and assignment of the Renaissance Notes by
the
Holder to the CCO Issuers, the CCO Issuers shall deliver, or cause to be
delivered, to the Holder the New CCO Notes. New CCO Notes shall be issued only
in minimum denominations of $1,000 and integral multiples thereof, and no
fractional interests in New CCO Notes shall be issued.
1.4 The
New
CCO Notes shall be issued under and subject to the Indenture, dated as of April
27, 2004, by and among the CCO Issuers and Xxxxx Fargo Bank, N.A., as trustee
(the “CCO
Indenture”),
pursuant to a supplemental indenture thereto to be dated as of the Closing
Date
(the "CCO
Supplemental Indenture").
Each
of the CCO
Issuers and the Holder shall execute and/or deliver such other documents and
agreements as are customary and reasonably necessary to effectuate the Exchange
in connection with the Closing.
1.5 Closing.
The
closing of the Exchange (the “Closing”)
shall
occur on March 14, 2006 (the “Closing
Date”).
In
the event the Closing does not occur on or before the Closing Date, this
Agreement shall terminate in accordance with Article 6 of this
Agreement.
2. Representations
and Warranties of the CCO Issuers.
The CCO
Issuers jointly and severally represent and warrant to the Holder, as of the
date hereof and as of the Closing Date, that:
2.1 Organization
and Qualification.
Each of
the CCO Issuers is an entity duly organized, validly existing and in good
standing under the laws of the jurisdiction of its formation and has the
requisite corporate or limited liability company power and authority to enter
into and perform its obligations under this Agreement, and to own, lease and
operate its assets and properties and to carry on its business as it is now
being conducted.
2.2 Authorization
and Binding Obligation.
Each of
the CCO Issuers has full corporate or limited liability company power to execute
and deliver the Transaction Documents to which it is or will be a party. The
execution and delivery of this Agreement by each CCO Issuer and the performance
of its obligations hereunder have been, and the execution and delivery of the
other Transaction Documents by each CCO Issuer and the performance of its
obligations thereunder have been, duly authorized by all necessary corporate
or
limited liability company action, including any necessary approvals by their
respective boards of directors or managers, and no other corporate or limited
liability company proceedings on their part are or will be necessary for the
execution and delivery of this Agreement and the
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other
Transaction Documents and the performance of their obligations provided for
herein and therein. This Agreement has been, and the other Transaction
Documents have been, or on or prior to the Closing Date will be, duly executed
and delivered by each CCO Issuer and, assuming this Agreement and the other
Transaction Documents are or, on or prior to the Closing Date will be, binding
obligations of the Holder, this Agreement constitutes, and the other Transaction
Documents constitute, or on or prior to the Closing Date will constitute, valid
and binding obligations of the CCO Issuers, enforceable against them in
accordance with their respective terms, subject, as to enforcement, to
bankruptcy, insolvency, reorganization and other laws of general applicability
relating to or affecting creditors’ rights and to general equity
principles.
2.3 No
Conflict; Required Filings and Consents.
(a) The
execution and delivery of this Agreement and the other Transaction Documents
by
the CCO Issuers and the performance of their obligations hereunder and
thereunder will not (i) conflict with or violate the organizational
documents of the CCO Issuers or any of their direct or indirect subsidiaries
or
parent companies, (ii) conflict with or violate any Legal Requirement
applicable to the CCO Issuers or any of their direct or indirect subsidiaries
or
parent companies, or by which any of their respective properties is bound or
affected, or (iii) result in any breach of or constitute a default (or an
event that with notice or lapse of time or both would become a default) under
any note, bond, mortgage, indenture, contract, agreement, lease, license,
permit, franchise or other instrument or obligation to which the CCO Issuers
or
any of their direct or indirect subsidiaries or parent companies are a party
or
by which any of them or any of their respective properties are bound or
affected, except where (in the case of clauses (ii) and (iii)) any of the
foregoing would not, either individually or in the aggregate, have or reasonably
be expected to have a Material Adverse Effect.
(b) The
execution and delivery of this Agreement and the other Transaction Documents
by
the CCO Issuers and the performance of their obligations hereunder and
thereunder will not require any prior consent, approval or authorization, or
prior filing with or notification to, any Governmental Authority, except where
the failure to obtain such prior consents, approvals or permits, or to make
such
prior filings or notifications, would have or reasonably be expected to have
a
Material Adverse Effect.
2.4 Material
Disclosure.
The
Renaissance Issuers have previously filed with the Securities and Exchange
Commission (“SEC”)
their
annual report on Form 10-K for the year ended December 31, 2004, and their
quarterly report on Form 10-Q for the quarter ended September 30, 2005 (the
“Renaissance
Reports”).
The
CCO Issuers have previously furnished to the holders of the Existing CCO Notes
their annual report on Form 10-K for the year ended December 31, 2004, and
their
quarterly report on Form 10-Q for the quarter ended September 30, 2005 (the
“CCO
Reports”).
Charter Communications, Inc. has previously filed with the SEC its annual report
on Form 10-K for the year ended December 31, 2005 (the “CCI 10-K”). The CCI
10-K, the Renaissance Reports and the CCO Reports are collectively referred
to
herein as the “Information.”
The
non-financial information included in the Information is accurate, as of the
dates specified therein, in all material respects. The
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consolidated
financial statements (including the notes thereto) included in the Information
present fairly in all material respects the respective consolidated financial
positions, results of operations and cash flows of the entities to which they
relate at the dates and for the periods to which they relate and have been
prepared in accordance with United States generally accepted accounting
principles applied on a consistent basis, subject to year end audit adjustments
in the case of unaudited financial statements and to the exceptions to
consistency related to the adoption of new generally accepted accounting
principles described therein. There has been no change in the business or
financial condition of CCO, the Renaissance Issuers or their subsidiaries since
December 31, 2004, which would reasonably be expected to have a Material Adverse
Effect, except as has been disclosed in the Information or contained or
reflected in any press release issued prior to the date of this Agreement or
in
any report, schedule, form, statement or other document (together with all
exhibits, financial statements, schedules and any amendments thereto) that
has
been filed by CCO with the SEC prior to the date of this Agreement pursuant
to
the reporting requirements of the Exchange Act (including material filed
pursuant to Section 13(a) or 15(d)) or the filing requirements of the
Securities Act or that has been furnished by the Renaissance Issuers to the
holders of the Existing CCO Notes prior to the date of this Agreement or in
the
documents listed on Schedule 2.4 hereto. The Information, taken together with
(i) any subsequent reports, schedules, forms, statements and other documents
(together with all exhibits, financial statements, schedules and any amendments
thereto) that have been filed by the CCO Issuers and their parent and subsidiary
companies with the SEC pursuant to the filing requirements of the Securities
Act
or the reporting requirements of the Exchange Act prior to the date of this
Agreement (including material filed pursuant to Section 13(a) or 15(d)) or
that have furnished by the Renaissance Issuers to the holders of the Existing
CCO Notes prior to the date of this Agreement does not contain an untrue
statement of a material fact or omit to state a material fact required to be
stated therein or necessary to make the statements therein, in light of the
circumstances under which they were made, not misleading.
2.5 Same
Issuer.
The
issuer of the New CCO Notes and the issuer of the Renaissance Notes is the
same
entity for United States federal income tax purposes, assuming that the
respective corporate co-issuers are not treated as issuers for such tax
purposes.
2.6 Restricted
Securities.
On the
Closing Date, the New CCO Notes will not be of the same class as securities
listed on a national securities exchange registered under Section 12 of the
Securities Exchange Act of 1934, as amended (the “Exchange
Act”)
or
quoted in an automated inter-dealer quotation system.
2.7 No
Integration.
Neither
the CCO Issuers nor any of their affiliates (as defined in Rule 501(b) of
Regulation D of the Securities Act (“Regulation
D”))
has,
directly or through any agent, sold, offered for sale, solicited offers to
buy
or otherwise negotiated in respect of, any security (as defined in the
Securities Act), that is or will be integrated with the sale of the New CCO
Notes in a
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manner
that would require registration of the New CCO Notes under the Securities
Act.
2.8 No
General Solicitation.
None of
the CCO Issuers nor any of their affiliates or any other person acting on their
behalf (other than the Holder, as to which no representation is made) has
solicited offers for, or offered or sold, the New CCO Notes by means of any
form
of general solicitation or general advertising within the meaning of Rule 502(c)
of Regulation D or in any manner involving a public offering within the meaning
of Section 4(2) of the Securities Act.
2.9 Securities
Law Exemptions.
Assuming the accuracy of the representations and warranties of the Holder
contained herein and the Holder's compliance with its agreements set forth
herein, it is not necessary, in connection with the issuance and sale of the
New
CCO Notes to the Holder, to register the New CCO Notes under the Securities
Act
or to qualify the indenture relating to such New CCO Notes under the Trust
Indenture Act of 1939, as amended.
3. Representations
and Warranties of the Holder.
The
Holder represents and warrants to the Renaissance Issuers and the CCO Issuers,
as of the date hereof and as of the Closing Date, as follows:
3.1 Organization,
Standing, and Authority.
The
Holder (i) is duly organized, validly existing and in good standing under
the laws of its state of organization and (ii) has the requisite corporate
or other entity power and authority to execute and deliver this Agreement and
to
perform its obligations hereunder.
3.2 Authorization
and Binding Obligation.
The
execution and delivery of this Agreement and any other Transaction Documents
to
which it will be a party and the performance by the Holder of its obligations
hereunder and thereunder have been duly authorized by all necessary
organizational action, including any necessary approval by its board of
directors or other governing body, and no other organizational proceedings
on
its part are necessary for the execution and delivery of this Agreement and
any
other Transaction Documents to which it will be party and the performance of
its
obligations provided for herein and therein. This Agreement has been, and
any other Transaction Documents to which it is a party will be, duly executed
and delivered by it and, assuming this Agreement and such other Transaction
Documents are binding obligations of the CCO Issuers, this Agreement and such
other Transaction Documents will constitute valid and binding obligations of
it
enforceable against it in accordance with their terms, subject, as to
enforcement, to bankruptcy, insolvency, reorganization and other laws of general
applicability relating to or affecting creditors’ rights and to general equity
principles.
3.3 Ownership
of Securities; Ability to Deliver.
(a) The
Holder owns, directly or beneficially, all of the Renaissance Notes. The Holder
owns all of such Renaissance Notes free and clear of any Liens (other than
the
obligations pursuant to this Agreement and except for such transfer
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restrictions
of general applicability as may be provided under the Securities Act and the
“blue sky” laws of the various States of the United States). Without limiting
the foregoing, except for the Holder’s obligations under this Agreement and
except for such transfer restrictions of general applicability as may be
provided under the Securities Act and the “blue sky” laws of the various States
of the United States, the Holder has sole power of disposition with respect
to
all such Renaissance Notes, with no restrictions on its rights of disposition
pertaining thereto and no person or entity other than the Holder has any right
to direct or approve the disposition of any such Renaissance Notes. All of
the
Holder's Renaissance Notes are held for the account of the Holder by the entity
named on its signature page of this Agreement.
(b) The
Holder, to the extent it owns all or some of the Renaissance Notes beneficially,
has confirmed with each securities intermediary through which it holds, directly
or indirectly, any of the Renaissance Notes (other than DTC) that such
securities intermediary holds, or will hold on the Closing Date a sufficient
principal amount of Renaissance Notes, free and clear of any securities lending,
short sale or other arrangement or adverse claim, so that the Renaissance Notes
can be credited to the CCO Securities Account on the Closing Date (the
"Minimum
Amount")
and
each such securities intermediary has agreed to maintain at all times through
the Cutoff Date (as defined in Section 6.4), a principal amount of Renaissance
Notes at least equal to the Minimum Amount free and clear of any securities
lending, short sale or other arrangement or adverse claim that would prevent
such crediting to the CCO Securities Account on the Closing Date.
3.4 New
CCO Notes Not Registered.
The
Holder understands that the New CCO Notes, when issued, will not have been
registered under the Securities Act, will bear the restrictive legend specified
in the CCO Indenture and are issued in reliance upon an exemption from the
registration requirements of the Securities Act, which depends upon, among
other
things, the accuracy of the representations of the Holder as expressed herein.
The Holder is not acquiring the New CCO Notes with a view to any distribution
thereof or with any present intention of offering or selling any of the New
CCO
Notes in a transaction that would violate the Securities Act or the securities
laws of any state of the United States or any other applicable jurisdiction.
The
Holder has not offered, sold or delivered the New CCO Notes to be acquired
by
the Holder, and will not offer, sell or deliver the New CCO Notes, except
pursuant to an effective registration statement under the Securities Act or
an
exemption from such registration to the extent available under the Securities
Act.
3.5 Qualified
Institutional Buyer; Knowledge. The
Holder is a “qualified institutional buyer” as defined in Rule 144A promulgated
under the Securities Act, with such knowledge and expertise in financial and
business matters as are necessary in order to evaluate the merits and risks
of
the transactions contemplated by this Agreement, including the investment in
the
New CCO Notes. The Holder has reviewed the Information and all other information
referred to in Section 2.4 hereto, is aware of the business affairs and
financial condition of the
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CCO
Issuers and the Renaissance Issuers and has acquired sufficient information
about the CCO Issuers and the Renaissance Issuers to reach an informed and
knowledgeable decision to exchange the Renaissance Notes for the New CCO
Notes.
4. Covenants.
4.1 Reasonable
Best Efforts to Close.
The CCO
Issuers and the Holder shall use commercially reasonable best efforts to take
such actions as are necessary or desirable to consummate the transactions
contemplated by this Agreement (including in the case of the Holder, any actions
that may be desirable to ensure that the Renaissance Notes are credited to
the
CCO Securities Account on the Closing Date).
4.2 Limitations
on Transfer.
During
the period from the execution of this Agreement until the earlier of (a) the
termination of this Agreement, or (b) the Closing Date, no Holder shall sell,
assign or transfer any interest in its Renaissance Notes, or otherwise take
any
action which would inhibit or impair the Holder’s ability to deliver such
Renaissance Notes at the Closing in compliance with the terms of this Agreement
(including any action that would impair the ability of the relevant securities
intermediary through which the Holder, directly or indirectly, holds the
Renaissance Notes, from transferring the Renaissance Notes to the CCO Securities
Account on the Closing Date). Subject to the restrictions set forth in Section
4.3 and the Confidentiality Agreement referred to therein, the Holder may sell,
transfer or assign other securities of Charter Communications, Inc.
("CCI")
and
its affiliates owned by it which are not the subject of this
Agreement.
4.3 Confidentiality
Agreement.
Notwithstanding anything to the contrary therein, the Confidentiality Agreement
(the "Confidentiality
Agreement")
previously entered into between the Holder and CCI, and the confidentiality
and
standstill obligations set forth therein, shall expire after completion of
all
items at the Closing. Except as required by any Legal Requirement, the CCO
Issuers and their affiliates will keep confidential the participation of the
Holder in the transactions contemplated hereby and the amount of Renaissance
Notes sold by it hereunder with the same level of care such party holds its
own
confidential and proprietary information.
4.4 PORTAL
and DTC.
The CCO
Issuers shall use their reasonable best efforts to arrange, on or before the
Closing Date, for the New CCO Notes to be designated Private Offerings, Resales
and Trading through Automated Linkages (“PORTAL”)
Market
securities in accordance with the rules and regulations adopted by the National
Association of Securities Dealers, Inc. (“NASD”)
relating to trading in the PORTAL Market, for the New CCO Notes to be eligible
for clearance and settlement through DTC.
4.5 No
Integration.
Neither
the CCO Issuers nor any of their affiliates (as defined in Rule 501(b) of
Regulation D) will, directly or through any agent, sell, offer for sale, solicit
offers to buy or otherwise negotiate in respect of, any security (as defined
in
the Securities Act), that is or will be integrated with the sale of
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the
New
CCO Notes in a manner that would require registration of the New CCO Notes
under
the Securities Act.
4.6 No
General Solicitation.
None of
the CCO Issuers or any of their affiliates or any other person acting on their
behalf (other than the Holder, as to which no covenant is given) will solicit
offers for, or offer or sell, the New CCO Notes by means of any form of general
solicitation or general advertising within the meaning of Rule 502(c) of
Regulation D or in any manner involving a public offering within the meaning
of
Section 4(2) of the Securities Act.
4.7 No
Distribution of Renaissance Notes.
The CCO
Issuers shall not resell or reissue the Renaissance Notes in any manner that
would cause the Holder to be engaged in a distribution of the Renaissance Notes
under the Securities Act of 1933, as amended.
4.8 Tax
Treatment.
The
parties agree to treat the issuance of the New CCO Notes in exchange for the
Renaissance Notes as a taxable exchange for United States federal income tax
purposes, unless otherwise required by law.
5. Conditions
to Closing.
5.1 Conditions
to the Obligation of the Holder.
The
obligation of the Holder to close the Exchange is subject to the fulfillment
(or
waiver) on or before the Closing Date of the following:
(a) No
Injunction or Proceeding.
As of
the Closing, there shall be no injunction, stay or restraining order in effect
with respect to the transactions provided for herein and there shall not be
pending or threatened any action, proceeding or investigation involving the
Holder challenging or seeking damages from the Holder in connection with the
Exchange or seeking to restrain or prohibit the consummation of the
Exchange.
(b) Accuracy
of Representations.
The
representations and warranties made by the CCO Issuers in this Agreement shall
have been accurate in all material respects as of the date of this Agreement
and
shall be accurate in all material respects as of the Closing Date as if made
on
the Closing Date (except those qualified by Material Adverse Effect, which
shall
be accurate in all respects).
(c) Performance.
The
covenants and obligations that the CCO Issuers are required to comply with
or to
perform pursuant to this Agreement at or prior to the Closing shall have been
complied with and performed in all material respects.
(d) Execution
and Delivery of Transaction Documents.
The
Transaction Documents shall have been executed and delivered by all parties
thereto (other than the Holder) and delivered to the Holder.
(e) PORTAL
and DTC.
The CCO
Issuers shall have arranged for the New CCO Notes to be designated PORTAL
Market
securities in accordance with
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the
rules
and regulations adopted by the NASD relating to trading in the PORTAL Market
and
for the New CCO Notes to be eligible for clearance and settlement through the
Depositary Trust Company.
5.2 Conditions
to the Obligations of the CCO Issuers.
The
obligations of the CCO Issuers to close the Exchange are subject to the
fulfillment (or waiver) on or before the Closing Date of the
following:
(a) No
Injunction.
As of
the Closing, there shall be no injunction, stay or restraining order in effect
with respect to the transactions provided for herein and there shall not be
pending or threatened any action, proceeding or investigation challenging or
seeking damages in connection with the Exchange or seeking to restrain or
prohibit the consummation of the Exchange.
(b) Accuracy
of Representations.
The
representations and warranties made by the Holder in this Agreement shall have
been accurate in all material respects as of the date of this Agreement and
shall be accurate in all material respects as of the Closing Date as if made
on
the Closing Date.
(c) Performance.
The
other covenants and obligations that the Holder is required to comply with
or to
perform pursuant to this Agreement at or prior to such Closing shall have been
complied with and performed in all material respects.
(d) Execution
and Delivery of Transaction Documents.
The
Transaction Documents shall have been executed and delivered by all parties
thereto (other than the CCO Issuers) and delivered to CCO.
6. Termination.
6.1 By
Mutual Consent.
This
Agreement may be terminated at any time prior to the Closing Date by the mutual
written consent of CCO and the Holder.
6.2 By
Holder.
This
Agreement may be terminated by the Holder, upon a material breach of any
representation, warranty, covenant or agreement on the part of the CCO Issuers
set forth in this Agreement, or if any representation or warranty of the CCO
Issuers shall have become materially incorrect or untrue (or, in the case of
representations or warranties qualified by reference to a Material Adverse
Effect, shall have become incorrect or untrue) in either case such that the
conditions set forth in Section 5.1(a) or 5.1(b) would not be satisfied and
in
either case not less than one business day after written notice of such breach
by the Holder to CCO.
6.3 By
the
CCO Issuers.
This
Agreement may be terminated by the CCO Issuers, upon a material breach of any
representation, warranty, covenant or agreement on the part of the Holder set
forth in this Agreement, or if any representation or warranty of the Holder
shall have become materially incorrect or untrue, in either case such that
the
conditions set forth in Section 5.2(a) or Section 5.2(b) would not be satisfied
and in either case not less than one business day after written notice of such
breach by CCO to the Holder.
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6.4 Failure
to Close.
If the
Closing does not occur on or before March 14, 2006 (the "Cutoff
Date"),
then
the Holder, the Renaissance Issuers or the CCO Issuers may terminate this
Agreement by delivery of written notice of termination to the other parties
hereto; provided, however, any party that is in material breach of this
Agreement shall not have the right to terminate this Agreement pursuant to
this
Section 6.4.
6.5 Effect
of Termination.
If this
Agreement is terminated as provided in this Section 6, then this Agreement
will
forthwith become null and void and there will be no liability on the part of
any
party hereto to any other party hereto or any other person or entity in respect
thereof, provided that: (i) the obligations of the parties described in Section
7.3 will survive any such termination; and (ii) no such termination will relieve
any party from liability for breach of its obligations under this Agreement,
and
in such event the other parties shall have all rights and remedies available
at
law or equity, including the right of specific performance against such
party.
7. Miscellaneous.
7.1 Governing
Law.
This
Agreement shall be governed in all respects by the internal laws of the State
of
New York without regard to principles of conflicts of law or choice of
law.
7.2 Further
Assurances; Additional Documents.
The
parties shall take any actions and execute any other documents that may be
necessary or desirable to the implementation and consummation of this Agreement
upon the reasonable request of the other party.
7.3 Fees
and Expenses.
Each
party shall be responsible for its own fees and expenses incurred in connection
with this Agreement.
7.4 Severability.
If any
term or provision of this Agreement is determined by a court of competent
jurisdiction to be invalid, illegal or incapable of being enforced by any rule
of law or public policy, all other terms and provisions of this Agreement shall
nevertheless remain in full force and effect so long as the economic or legal
substance of the transactions contemplated hereby is not affected in any manner
materially adverse to any party. Upon determination that any term or other
provision of this Agreement is invalid, illegal or incapable of being enforced,
the parties hereto shall negotiate in good faith to attempt to agree on a
modification of this
Agreement so as to effect the original intent of the parties as closely as
possible to the fullest extent permitted by law in an acceptable manner to
the
end that the transactions contemplated hereby are fulfilled to the greatest
extent possible.
7.5 Entire
Agreement.
This
Agreement, the Confidentiality Agreement and the other Transaction Documents
represent the entire agreement and understandings between the parties concerning
the Exchange and the other matters
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described
therein and supersede and replace any and all prior agreements and
understandings.
7.6 No
Oral Modification.
This
Agreement may only be amended in writing signed by the CCO Issuers and by the
Holder.
7.7 Notices.
All
notices, requests and other communications hereunder shall be in writing and
shall be deemed to have been duly given at the time of receipt if delivered
by
hand, by reputable overnight courier or by facsimile transmission (with receipt
of successful and full transmission) to the applicable parties hereto at the
address stated on the signature pages hereto or if any party shall have
designated a different address or facsimile number by notice to the other party
given as provided above, then to the last address or facsimile number so
designated.
7.8 Submission
to Jurisdiction.
Each of
the parties hereto (a) consents to submit itself to the personal jurisdiction
of
any federal court located in the state of New York or any New York state court
in the event any dispute arises out of this Agreement or any of the transactions
contemplated hereby, (b) agrees that it will not attempt to deny or defeat
such
personal jurisdiction by motion or other request for leave from any such court
and (c) agrees that it will not bring any action relating to this Agreement
or
any of the transactions contemplated hereby in any court other than a federal
or
state court sitting in the state of New York.
7.9 EACH
OF
THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHTS TO TRIAL BY
JURY
IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE
TRANSACTIONS CONTEMPLATED HEREBY.
7.10 Counterparts.
This
Agreement may be executed in one or more counterparts each of which shall be
deemed an original and all of which together shall constitute one instrument.
Facsimile signatures shall constitute original signatures.
[NEXT
PAGE IS SIGNATURE PAGE]
-11-
SIGNATURE
PAGE TO EXCHANGE AGREEMENT
IN
WITNESS WHEREOF the parties have executed this Agreement on the date first
written above.
CHARTER
COMMUNICATIONS OPERATING, LLC, a Delaware limited liability
company
|
|||
By:
|
/s/
Xxxxxx X. Xxxxxx
|
||
Name:
|
Xxxxxx
X. Xxxxxx
|
||
Its:
|
Vice-President,
Treasury Operations
|
||
CHARTER
COMMUNICATIONS OPERATING CAPITAL CORP., a Delaware
corporation
|
|||
By:
|
/s/
Xxxxxx X. Xxxxxx
|
||
Name:
|
Xxxxxx
X. Xxxxxx
|
||
Its:
|
Vice-President,
Treasury Operations
|
||
RENAISSANCE
MEDIA (LOUISIANA), LLC, a Delaware limited liability
company
|
|||
By:
|
/s/
Xxxxxx X. Xxxxxx
|
||
Name:
|
Xxxxxx
X. Xxxxxx
|
||
Its:
|
Vice-President,
Treasury Operations
|
||
RENAISSANCE
MEDIA (TENNESSEE), LLC, a Delaware limited liability
company
|
|||
By:
/s/
Xxxxxx X. Xxxxxx
|
|||
Name:
Xxxxxx X. Xxxxxx
|
|||
Its:
Vice-President, Treasury
Operations
|
RENAISSANCE
MEDIA CAPITAL CORPORATION, a Delaware corporation
|
|||
By:
|
/s/
Xxxxxx X. Xxxxxx
|
||
Name:
|
Xxxxxx
X. Xxxxxx
|
||
Its:
|
Vice-President,
Treasury Operations
|
||
Notice
Address:
|
|||
Charter
Communications, Inc.
00000
Xxxxxxxxxxx Xxxxx
Xx.
Xxxxx, Xxxxxxxx 00000
Facsimile:
(000) 000-0000
Attn:
General Counsel
|
With
a copy to:
Xxxxxx,
Xxxx & Xxxxxxxx LLP
000
Xxxx Xxxxxx
Xxx
Xxxx, XX 00000-0000
Facsimile:
(000) 000-0000
Attn:
Xxxxx Xxxxxx, Esq.
|
||
HOLDER’S
SIGNATURE PAGE TO EXCHANGE AGREEMENT
Citadel
Equity Fund Ltd.
By:
Citadel Limited Partnership, Portfolio Manager
By:
Citadel Investment Group, L.L.C., its General Partner
By:
/s/ Xxxxxxxxxxx X. Xxxxxx
Name:
Xxxxxxxxxx X. Xxxxxx
Title:
Director and Associate General Counsel
|
||
By:
|
____________________________
|
|
Name:
|
____________________________
|
|
Its:
|
____________________________
|
|
Name
of
nominee holder or DTC Participant(s) holding Renaissance Notes for the benefit
of Holder:
DTC
Participant Number:
Holder
Name and Address:
Schedule
1.2. (Worksheet)
Charter
Communications, Inc.
|
|
|||||||||
Private
Bond Exchange
|
|
|||||||||
Citadel
|
||||||||||
Schedule
1.2
|
||||||||||
Exchange
date 3/13/2006
|
||||||||||
Bonds
DWACed for Cancellation
|
||||||||||
Renaissance
|
37,233,000
|
|||||||||
Senior
notes due 4-15-2008
|
10.000
|
%
|
||||||||
Last
interest payment date
|
10/15/2005
|
|||||||||
Days
360 to Exchange date
|
148
|
|||||||||
Accrued
interest owed to bondholder
|
A
|
1,530,690.00
|
||||||||
Bonds
issued by Charter
|
||||||||||
CCO
2nd xxxx xxxxx
|
||||||||||
Senior
notes due 4-30-2014
|
8.375
|
%
|
100.375
|
%
|
37,372,623.75
|
|||||
Rounded
to whole bonds
|
37,372,000.00
|
|||||||||
Payment
for partial bonds
|
C
|
623.75
|
||||||||
Last
interest payment date
|
10/30/2005
|
|||||||||
Days
360 to Exchange date
|
133
|
|||||||||
Accrued
purchased interest owed from bondholder
|
B
|
(1,156,326.01
|
)
|
|||||||
Cash
owed to settle partial bonds
|
C
|
623.75
|
||||||||
Net
cash due to bondholder on exchange date
|
A - B + C |
374,987.74
|
EXHIBIT
A
CERTAIN
DEFINITIONS
Definitions.
Terms
defined in the Uniform Commercial Code of the State of New York have the same
meanings herein. For purposes of this Agreement, the following terms shall
have
the following meanings:
“Claims”
means
any claims, actions, causes of action, liabilities, agreements, demands,
damages, debts, rights, interests, obligations, suits, judgments and charges
of
whatever nature, whether liquidated or unliquidated, fixed or contingent,
matured or unmatured, foreseen or unforeseen, known or unknown, that exist
or
may exist as of the date of this Agreement, or thereafter arising in law, equity
or otherwise.
“Governmental
Authority”
means
the United States of America, any state, commonwealth, territory or possession
of the United States of America, any foreign state and any political subdivision
or quasi governmental authority of any of the same, including any court,
tribunal, department, commission, board, bureau, agency, county, municipality,
province, parish or other instrumentality of any of the foregoing.
“Legal
Requirement”
means
applicable common law and any statute, ordinance, code or other law, rule,
regulation, order, technical or other written standard, requirement, policy
or
procedure enacted, adopted, promulgated, applied or followed by any Governmental
Authority, including any judgment or order and all judicial decisions applying
common law or interpreting any other Legal Requirement, in each case, as
amended.
“Lien”
means
any security interest, any interest retained by the transferor under a
conditional sale or other title retention agreement, mortgage, lien, pledge,
option, encumbrance, adverse interest, constructive exception to, defect in
or
other condition affecting title or other ownership interest of any kind, or
which would restrict, affect or delay transfer of title, whether or not arising
pursuant to any Legal Requirement.
“Material
Adverse Effect”
means
a
material adverse effect on (i) the business or condition (financial or
otherwise) of the Renaissance Issuers or CCO and, in each case, their or its
direct and indirect subsidiaries, taken as a whole, but without giving effect
to
any effect resulting from changes in conditions that are applicable to the
economy or the cable television industry on a national basis, or (ii) on the
ability of the CCO Issuers or their affiliates to perform their obligations
under this Agreement.
“Securities
Act”
means
the Securities Act of 1933, as amended, and the rules and regulations
thereunder.
“Transaction
Documents”
means
this Agreement and the other documents and instruments to be executed and
delivered in connection herewith at or prior to the Closing, including without
limitation the New CCO Notes and the CCO Supplemental Indenture.