SENIOR INTERIM LOAN GUARANTEE dated as of November 16, 2007 among ALLTEL CORPORATION, as Parent, ALLTEL COMMUNICATIONS, INC. and ALLTEL COMMUNICATIONS FINANCE, INC., as the Borrowers, CERTAIN SUBSIDIARIES OF ALLTEL CORPORATION, to be identified...
Exhibit (4)(c)(3)
SENIOR
INTERIM LOAN GUARANTEE
dated
as
of
November
16, 2007
among
ALLTEL
CORPORATION,
as
Parent,
ALLTEL
COMMUNICATIONS, INC. and
ALLTEL
COMMUNICATIONS FINANCE, INC.,
as
the
Borrowers,
CERTAIN
SUBSIDIARIES OF
ALLTEL
CORPORATION,
to
be
identified herein,
and
CITIBANK,
N.A.,
as
Administrative Agent
TABLE
OF CONTENTS
Page
ARTICLE
I
DEFINITIONS
Section
1.01.
|
Credit
Agreement
|
1
|
Section
1.02.
|
Other
Defined Terms
|
1
|
ARTICLE
II
GUARANTEE
Section
2.01.
|
Guarantee
|
2
|
Section
2.02.
|
Guarantee
of Payment
|
2
|
Section
2.03.
|
No
Limitations; Guarantee Absolute
|
2
|
Section
2.04.
|
Bankruptcy;
Reinstatement
|
3
|
Section
2.05.
|
Agreement
To Pay; Subrogation
|
4
|
Section
2.06.
|
Information
|
4
|
ARTICLE
III
INDEMNITY,
SUBROGATION AND SUBORDINATION
Section
3.01.
|
Indemnity
and Subrogation
|
4
|
Section
3.02.
|
Contribution
and Subrogation
|
4
|
Section
3.03.
|
Subordination
|
5
|
ARTICLE
IV
MISCELLANEOUS
Section
4.01.
|
Authority
of the Administrative Agent
|
5
|
Section
4.02.
|
Representations
and Warranties; Covenants
|
6
|
Section
4.03.
|
Payments
|
6
|
Section
4.04.
|
Notices
|
6
|
Section
4.05.
|
Waivers;
Amendment
|
7
|
Section
4.06.
|
Administrative
Agent's Fees and Expenses, Indemnification
|
7
|
Section
4.07.
|
Successors
and Assigns
|
7
|
Section
4.08.
|
Counterparts;
Several Agreement
|
8
|
Section
4.09.
|
Severability
|
8
|
Section
4.10.
|
Right
of Set-Off
|
8
|
Section
4.11.
|
Governing
Law; Jurisdiction; Venue; Waiver Of Jury Trial; Consent To Service
Of
Process
|
9
|
Section
4.12.
|
Headings
|
9
|
i
TABLE
OF CONTENTS
(continued)
Page
Section
4.13.
|
Termination
or Release
|
9
|
Section
4.14.
|
Additional
Guarantors
|
9
|
Section
4.15.
|
Limitation
on Guaranteed Obligations
|
9
|
Section
4.16.
|
Survival
|
10
|
ii
SENIOR
INTERIM LOAN GUARANTEE dated as of November 16, 2007, among ALLTEL CORPORATION,
a Delaware corporation (“Parent”), certain subsidiaries
of Parent from time to time party hereto (collectively, “Subsidiaries” and,
individually, “Subsidiary”), and CITIBANK,
N.A., as Administrative Agent (as defined below), and solely for the purposes
of
Section 3.01, ALLTEL COMMUNICATIONS, INC., a Delaware corporation (“ACI”), and ALLTEL
COMMUNICATIONS FINANCE, INC., a Delaware corporation (“ACFI” and, together with
ACI,
the “Borrowers”).
Reference
is made to the Senior Interim Loan Credit Agreement dated as of November 16,
2007 (as amended, restated, amended and restated, supplemented or otherwise
modified from time to time, the “Credit Agreement”), among the
Borrowers, Parent, Citibank, N.A., as Administrative Agent, and each lender
from
time to time party thereto (collectively, the “Lenders” and individually,
a
“Lender”). The
Lenders have agreed to extend credit to the Borrowers (as defined below) subject
to the terms and conditions set forth in the Credit Agreement. The
obligations of the Lenders to extend such credit are conditioned upon, among
other things, the execution and delivery of this Agreement. Parent
and the Subsidiaries are affiliates of the Borrowers, will derive substantial
benefits from the extension of credit to the Borrowers pursuant to the Credit
Agreement and are willing to execute and deliver this Agreement in order to
induce the Lenders to extend such credit. Accordingly, the parties
hereto make the following representations and warranties to the Administrative
Agent for the benefit of the Lenders and hereby covenant and agree as
follows:
ARTICLE
I
DEFINITIONS
SECTION
1.01. Credit
Agreement. (a) Capitalized
terms used in
this Agreement and not otherwise defined herein have the meanings specified
in
the Credit Agreement.
(b) The
rules
of construction specified in Article I of the Credit Agreement also apply to
this Agreement.
SECTION
1.02. Other
Defined
Terms. As used in this Agreement, the following terms have the
meanings specified below:
“Administrative
Agent” means
Citibank, N.A., in its capacity as administrative agent under the Loan
Documents, or any successor administrative agent.
“Agreement”
means
this Senior
Interim Loan Guarantee.
“Bankruptcy
Code” means Title
11 of the United States Code entitled “Bankruptcy,” as now or hereafter in
effect, or any successor thereto.
“Claiming
Party” has the
meaning assigned to such term in Section 3.02.
“Contributing
Party” has the
meaning assigned to such term in Section 3.02.
“Credit
Agreement” has the
meaning assigned to such term in the preliminary statement of this
Agreement.
“Guarantor”
means
each
Guarantor (including, without limitation, Parent), as defined in the Credit
Agreement and each party that becomes a party to this Agreement after the
Closing Date.
1
“Guarantee
Parties” means,
collectively, Parent, the Borrowers and each Guarantor, and “Guarantee Party” means any one
of them.
“Guarantee
Supplement” means an
instrument in the form of Exhibit I hereto.
“Obligee
Guarantor” has the
meaning assigned to such term in Section 3.03(b).
ARTICLE
II
GUARANTEE
SECTION
2.01. Guarantee. Subject
to the provisions of Section 4.15, each Guarantor irrevocably, absolutely and
unconditionally guarantees, jointly with the other Guarantors and severally
(as
primary obligor and not merely as surety) to the Administrative Agent, for
the
ratable benefit of the Lenders, the due and punctual payment and performance
of
the Obligations (including amounts that would become due but for operation
of
the automatic stay under 362(a) of the Bankruptcy Code), either at stated
maturity or earlier by reason of acceleration, mandatory prepayment or otherwise
in accordance herewith or with any other Loan Documents. Each of the
Guarantors further agrees that the Obligations may be extended, increased or
renewed, in whole or in part, without notice to or further assent from it,
and
that it will remain bound upon its Guarantee notwithstanding any extension,
increase or renewal, in whole or in part, of any Obligation. Each of
the Guarantors waives presentment to, demand of payment from and protest to
any
Guarantee Party of any of the Obligations, and also waives notice of acceptance
of its Guarantee and notice of protest for nonpayment. Each Guarantor
agrees that whenever, at any time, or from time to time, it shall make any
payment to the Administrative Agent or any Lender on account of its liability
hereunder, it will notify the Administrative Agent in writing that such payment
is made under this Agreement for such purpose provided, that failure to provide
such notification shall not invalidate any payment as being made under this
Agreement.
SECTION
2.02. Guarantee
of
Payment. Each of the Guarantors further agrees that its
Guarantee hereunder constitutes a Guarantee of payment when due and not of
collection, and waives any right to require that any resort be had by the
Administrative Agent or any Lender to any security held for the payment of
the
Obligations, or to any balance of any deposit account or credit on the books of
the Administrative Agent or any Lender in favor of the Borrowers or any other
Person.
SECTION
2.03. No
Limitations; Guarantee
Absolute. (a) Except for termination
of a
Guarantor’s obligations hereunder as expressly provided in Section 4.13, to the
fullest extent permitted by applicable law, the obligations of each Guarantor
hereunder shall not be subject to any reduction, limitation, impairment or
termination for any reason, including any claim of waiver, release, surrender,
alteration or compromise, and shall not be subject to any defense or set-off,
counterclaim, recoupment or termination whatsoever by reason of the invalidity
or unenforceability of the Obligations, or otherwise. Without
limiting the generality of the foregoing, the obligations of each Guarantor
hereunder shall not be discharged, impaired or otherwise affected by (i) the
failure of the Administrative Agent or any Lender to assert any claim or demand
or to enforce any right or remedy under the provisions of any Loan Document
or
otherwise; (ii) any rescission, waiver, amendment or modification of, or any
release from any of the terms or provisions of any Loan Document or any other
agreement, including with respect to any other Guarantor under this Agreement;
(iii) the release of any security held by the Administrative Agent or any Lender
for the Obligations; (iv) any default, failure or delay, willful or otherwise,
in the performance of the Obligations; or (v) any other act or omission that
may
or might in any manner or to any extent vary the risk of any Guarantor or
otherwise operate as a discharge of any Guarantor as a matter of law or equity
(other than the indefeasible payment in full in cash of all the
Obligations). Each Guarantor expressly authorizes the Administrative
Agent and the Lenders to release or substitute any one or more
2
other
guarantors or obligors upon or in respect of the Obligations, all in accordance
with the Loan Documents and all without affecting the obligations of any
Guarantor hereunder. When making any demand hereunder against any
Guarantor or otherwise pursuing its rights and remedies hereunder, the
Administrative Agent or any Lender may, but shall be under no obligation to,
make a similar demand on or otherwise pursue such rights and remedies as it
may
have against any Guarantee Party or any other Person or against any Guarantee
for the Obligations or any right of offset with respect thereto, and any failure
by the Administrative Agent or any Lender to make any such demand, to pursue
such other rights or remedies or to collect any payments from any Guarantee
Party or any other Person or to realize upon any such guarantee or to exercise
any such right of offset or any release of any Guarantee Party or any other
Person shall not relieve any Guarantor of any obligation or liability hereunder,
and in respect of which a demand or collection is not made or any Guarantor
not
so released of its obligations or liabilities hereunder, and shall not impair
or
affect the rights and remedies, express or implied or as a matter of law, of
the
Administrative Agent or any Lender against any Guarantor. For the
purposes of this Section 2.03, “demand” shall include (but not be limited to)
the commencement and continuance of any legal proceedings.
(b) To
the
fullest extent permitted by applicable law, all rights of the Administrative
Agent hereunder and all obligations of each Guarantor hereunder shall be
absolute and unconditional irrespective of, and each Guarantor waives any
defense based on or arising out of, (i) any lack of validity or enforceability
of the Credit Agreement, any other Loan Document, any agreement with respect
to
any of the Obligations or any other agreement or instrument relating to any
of
the foregoing, (ii) any change in the time, manner or place of payment of,
or in
any other term of, all or any of the Obligations, or any other amendment or
waiver of or any consent to any departure from the Credit Agreement, any other
Loan Document, or any other agreement or instrument, (iii) any release or
amendment or waiver of or consent under or departure from any Guarantee securing
or guaranteeing all or any of the Obligations, (iv) any other circumstance
that might otherwise constitute a defense available to, or a discharge of,
any
Guarantor in respect of the Obligations or this Agreement or (v) any defense,
set-off or counterclaim of either Borrower or any other Guarantee
Party.
(c) The
Administrative Agent and the Lenders may, in accordance with the terms of the
Loan Documents and at their election, make any accommodation with any Guarantee
Party or exercise any other right or remedy available to them against any
Guarantee Party, without affecting or impairing in any way the liability of
any
Guarantor hereunder except to the extent the Obligations (other
than contingent indemnification obligations not yet accrued and payable)
have been fully and indefeasibly paid in full in cash, and all other Obligations
(including a guarantee that is contingent in nature) have expired or
terminated. To the fullest extent permitted by applicable law, each
Guarantor waives any defense arising out of any such election even though such
election operates, pursuant to applicable law, to impair or to extinguish any
right of reimbursement or subrogation or other right or remedy of such Guarantor
against any Guarantee Party, as the case may be, or any security.
SECTION
2.04. Bankruptcy;
Reinstatement. (a) The obligations
of Guarantors hereunder shall not be reduced, limited, impaired, discharged,
deferred, suspended or terminated by any case or proceeding, voluntary or
involuntary, involving the bankruptcy, insolvency, receivership, reorganization,
liquidation or arrangement of either Borrower or any Guarantor or by any defense
which either Borrower or any Guarantor may have by reason of the order, decree
or decision of any court or administrative body resulting from any such
proceeding.
(b) Each
Guarantor acknowledges and agrees that any interest on any portion of the
Obligations which accrues after the commencement of any case or proceeding
referred to in clause (a) above (or, if interest on any portion of the
Obligations ceases to accrue by operation of law by reason of the commencement
of such case or proceeding, such interest as would have accrued on such portion
of
3
the
Obligations if such case or proceeding had not been commenced) shall be included
in the Obligations because it is the intention of the Guarantors and the Lenders
that the Obligations which are guaranteed by the Guarantors pursuant hereto
should be determined without regard to any rule of law or order which may
relieve the Borrowers or any Guarantor of any portion of such
Obligations. The Guarantors will permit any trustee in bankruptcy,
receiver, debtor in possession, assignee for the benefit of creditors or similar
Person to pay Administrative Agent, or allow the claim of Administrative Agent
in respect of, any such interest accruing after the date on which such case
or
proceeding is commenced.
(c) Each
of
the Guarantors agrees that its Guarantee hereunder shall continue to be
effective or be reinstated, as the case may be, if at any time payment, or
any
part thereof, of any Obligation, is rescinded, invalidated or must otherwise
be
restored by the Administrative Agent or any Lender upon the insolvency,
bankruptcy, dissolution, liquidation or reorganization of any Guarantee Party
or
otherwise, or upon or as a result of the appointment of a receiver, intervenor
or conservator of, or trustee of similar office for, any Guarantor or any
substantial part of its property, or otherwise, all as though such payments
had
not been made.
SECTION
2.05. Agreement
To Pay;
Subrogation. In furtherance of the foregoing and not in
limitation of any other right that the Administrative Agent or any Lender has
at
law or in equity against any Guarantor by virtue hereof, upon the failure of
either Borrower or any other Guarantee Party to pay any Obligation when and
as
the same shall become due, whether at maturity, by acceleration, after notice
of
prepayment or otherwise, each Guarantor hereby promises to and will forthwith
pay, or cause to be paid, to the Administrative Agent for distribution to the
Lenders in cash the amount of such unpaid Obligation. Upon payment by
any Guarantor of any sums to the Administrative Agent as provided above, all
rights of such Guarantor against any Guarantee Party arising as a result thereof
by way of right of subrogation, contribution, reimbursement, indemnity or
otherwise shall in all respects be subject to Article III.
SECTION
2.06. Information. Each
Guarantor assumes all responsibility for being and keeping itself informed
of
each Guarantee Party’s financial condition and assets, and of all other
circumstances bearing upon the risk of nonpayment of the Obligations, and the
nature, scope and extent of the risks that such Guarantor assumes and incurs
hereunder, and agrees that none of the Administrative Agent or the Lenders
will
have any duty to advise such Guarantor of information known to it or any of
them
regarding such circumstances or risks.
ARTICLE
III
INDEMNITY,
SUBROGATION AND SUBORDINATION
SECTION
3.01. Indemnity
and
Subrogation. In addition to all such rights of indemnity and
subrogation as the Guarantors may have under applicable law (but subject to
Section 3.03), the Borrowers agree that in the event a payment of any Obligation
shall be made by any Guarantor under this Agreement, the Borrowers shall
indemnify such Guarantor for the full amount of such payment and such Guarantor
shall be subrogated to the rights of the Person to whom such payment shall
have
been made to the extent of such payment.
SECTION
3.02. Contribution
and
Subrogation. Each Guarantor (a “Contributing Party”) agrees
(subject to Section 3.03) that, in the event a payment shall be made by any
other Guarantor hereunder in respect of any Obligation and such other Guarantor
(the “Claiming Party”)
shall not have been fully indemnified by the Borrowers as provided in Section
3.01, the Contributing Party
4
shall
indemnify the Claiming Party in an amount equal to the amount of such payment,
in each case multiplied by a fraction of which the numerator shall be the net
worth of the Contributing Party on the date hereof and the denominator shall
be
the aggregate net worth of all the Contributing Parties together with the net
worth of the Claiming Party on the date hereof (or, in the case of any Guarantor
becoming a party hereto pursuant to Section 4.14, the date of the Guarantee
Supplement hereto executed and delivered by such Guarantor). Any
Contributing Party making any payment to a Claiming Party pursuant to this
Section 3.02 shall be subrogated to the rights of such Claiming Party to the
extent of such payment. Each Guarantor recognizes and acknowledges
that the rights to contribution arising hereunder shall constitute an asset
in
favor of the party entitled to such contribution. In this connection,
each Guarantor has the right to waive, to the fullest extent permitted by
applicable law, its contribution right against any other Guarantor to the extent
that after giving effect to such waiver such Guarantor would remain solvent,
in
the determination of the Required Lenders. The provisions of this
Section 3.02 shall in no respect limit the obligations and liabilities of any
Guarantor to the Administrative Agent and the Lenders (or if a Guarantor is
subrogated to any right of the Administrative Agent or any Lender by operation
of law, such Guarantor hereby waives such rights to the extent permitted by
applicable law), and each Guarantor shall remain liable to the Administrative
Agent and the Lenders up to the maximum liability of such Guarantor
hereunder.
SECTION
3.03. Subordination. (a)
Notwithstanding any provision of this Agreement to the contrary, all rights
of
the Guarantors under Sections 3.01 and 3.02 and all other rights of indemnity,
contribution or subrogation under applicable law or otherwise shall be fully
subordinated to the indefeasible payment in full in cash of the Obligations
and
no Guarantor shall exercise or enforce any right or indemnification or
subrogation until such payment in full of the Obligations; provided that if any amount
shall be paid to such Guarantor on account of such subrogation rights at any
time prior to the irrevocable payment in full of the Obligations, such amount
shall be held by such Guarantor in trust for the benefit of the Lenders,
segregated from the other funds of such Guarantor, and shall forthwith be paid
to the Administrative Agent to be credited and applied against the Obligations,
whether matured or unmatured, in accordance with the terms of the Credit
Agreement. No failure on the part of either Borrower or any Guarantor
to make the payments required by Sections 3.01 and 3.02 (or any other payments
required under applicable law or otherwise) shall in any respect limit the
obligations and liabilities of any Guarantor with respect to its obligations
hereunder, and each Guarantor shall remain liable for the full amount of the
obligations of such Guarantor hereunder. To the maximum extent
permitted by applicable law, each Guarantor hereby waives any defense relating
to any action by the Administrative Agent that has the effect of impairing
the
Guarantor’s right of subrogation or indemnification.
(b)
Any
Indebtedness of any Guarantee Party now or hereafter owed to any other Guarantee
Party (the “Obligee
Guarantor”) is hereby subordinated in right of payment to the
Obligations, and any such Indebtedness collected or received by the Obligee
Guarantor after an Event of Default has occurred and is continuing shall be
held
in trust for the Administrative Agent for the benefit of the Lenders, segregated
from the funds of such Guarantor, and shall forthwith be paid to the
Administrative Agent, to be credited and applied against Obligations, whether
matured or unmatured, but without affecting, impairing or limiting in any manner
the liability of the Obligee Guarantor under any other provision
hereof.
ARTICLE
IV
MISCELLANEOUS
SECTION
4.01. Authority
of the
Administrative Agent. (a) The Administrative Agent enters into
this Agreement in its capacity as agent for the Lenders from time to
time. The rights and
5
obligations
of the Administrative Agent under this Agreement at any time are the rights
and
obligations of the Lenders at that time. Each of the Lenders has
(subject to the terms of the Loan Documents) a several entitlement to each
such
right, and a several liability in respect of each such obligation, in the
proportions described in the Loan Documents. The rights, remedies and
discretions of the Lenders, or any of them, under this Agreement may be
exercised by the Administrative Agent. As between the Administrative
Agent and the Guarantors, the Administrative Agent shall be conclusively
presumed to be acting as agent for the Lenders with full and valid authority
so
to act or refrain from acting. Parties to this Agreement may, but are
not obliged to, inquire whether an exercise by the Administrative Agent of
any
such right, remedy or discretion is within the Administrative Agent’s authority
as agent for the Lenders, provided, that,
notwithstanding any such inquiry the Administrative Agent’s rights, remedies or
discretion under the Loan Documents shall not be in any way prejudiced or
impeded hereunder or thereunder. All powers, authorizations and
agencies contained in this Agreement are coupled with an interest and are
irrevocable until this Agreement is terminated.
(b) Each
party to this Agreement
acknowledges and agrees that any changes (in accordance with the provisions
of
the Loan Documents) in the identity of the persons from time to time comprising
the Lenders gives rise to an equivalent change in the Lenders, without any
further act. Upon such an occurrence, the persons then comprising the Lenders
are vested with the rights, remedies and discretions and assume the obligations
of a Lender under this Agreement. Each party to this Agreement irrevocably
authorizes the Administrative Agent to give effect to the change in Lender
contemplated in this Section 4.01(b) by countersigning an Assignment and
Assumption.
SECTION
4.02. Representations
and
Warranties; Covenants. (a) Each Guarantor hereby represents
and warrants that the representations and warranties set forth in Article V
of
the Credit Agreement as of the Closing Date (except where such representations
and warranties expressly relate to an earlier date, in which case such
representation and warranties were true and correct as of such earlier date),
as
they relate to such Guarantor or in the other Loan Documents to which such
Guarantor is a party, each of which is hereby incorporated herein by reference,
are true and correct in all material respects, and the Administrative Agent
and
each Lender shall be entitled to rely on each of them as if they were fully
set
forth herein.
(b)
Each Guarantor hereby covenants and
agrees with the Administrative Agent and each Lender that, from and after the
date of this Agreement until the Obligations (other than contingent
indemnification obligations not yet accrued and payable) under the Loan
Documents are paid in full, the Commitments are terminated and all other
Obligations (including a guarantee that is contingent in nature) have expired
or
terminated, such Guarantor shall take, or shall refrain from taking, as the
case
may be, all actions that are necessary to be taken or not taken so that no
violation of any provision, covenant or agreement contained in Article VI of
the
Credit Agreement and so that no Default or Event of Default, is caused by any
act or failure to act of such Guarantor or any of its Subsidiaries.
SECTION
4.03. Payments. Each
Guarantor hereby agrees that payments hereunder will be paid to the
Administrative Agent without set-off or counterclaim in Dollars in immediately
available funds at the Administrative Agent’s Office. Each Guarantor
agrees that the provisions of Section 3.01 of the Credit Agreement are
incorporated herein by reference, mutatis mutandis, and the
parties hereto agree to such terms.
SECTION
4.04. Notices. All
communications and notices hereunder shall (except as otherwise expressly
permitted herein) be in writing and given as provided in Section 10.02 of the
Credit Agreement. All communications and notices hereunder to any
Guarantor shall be given to it in care of the Borrowers as provided in Section
10.02 of the Credit Agreement.
6
SECTION
4.05. Waivers;
Amendment. (a) No failure or
delay by the Administrative Agent, any other Agent or any Lender in exercising
any right or power hereunder or under any other Loan Document shall operate
as a
waiver thereof, nor shall any single or partial exercise of any such right
or
power, or any abandonment or discontinuance of steps to enforce such a right
or
power, preclude any other or further exercise thereof or the exercise of any
other right or power. The rights and remedies of the Administrative
Agent, any other Agent and the Lenders hereunder and under the other Loan
Documents are cumulative, may be exercised singly or concurrently, and are
not
exclusive of any rights or remedies that they would otherwise
have. No waiver of any provision of this Agreement or consent to any
departure by any Guarantee Party therefrom shall in any event be effective
unless the same shall be permitted by paragraph (b) of this Section 4.05, and
then such waiver or consent shall be effective only in the specific instance
and
for the purpose for which given. Without limiting the generality of
the foregoing, the making of a Loan shall not be construed as a waiver of any
Default, regardless of whether the Administrative Agent, any other Agent or
any
Lender may have had notice or knowledge of such Default at the
time. No notice or demand on any Guarantee Party in any case shall
entitle any Guarantee Party to any other or further notice or demand in similar
or other circumstances.
(b) Neither
this Agreement nor any provision hereof may be waived, amended or modified
except pursuant to an agreement or agreements in writing entered into by the
Administrative Agent and the Guarantee Party or Guarantee Parties with respect
to which such waiver, amendment or modification is to apply, subject to any
consent required in accordance with Section 10.01 of the Credit
Agreement.
SECTION
4.06. Administrative
Agent's Fees
and Expenses, Indemnification. (a) The parties
hereto agree that the Administrative Agent shall be entitled to reimbursement
of
its expenses incurred hereunder as provided in Section 10.04 of the Credit
Agreement.
(b) Without
limitation of its indemnification obligations under the other Loan Documents,
each Borrower, jointly and severally, agrees to indemnify the Administrative
Agent and the other Indemnitees (as defined in Section 10.05 of the Credit
Agreement) against, and hold each Indemnitee harmless from, any and all losses,
claims, damages, liabilities and related expenses, including the reasonable
fees, charges and disbursements of any counsel for any Indemnitee, incurred
by
or asserted against any Indemnitee arising out of, in connection with, or as
a
result of, the execution, delivery, performance, enforcement or administration
of this Agreement or any claim, litigation, investigation or proceeding relating
to any of the foregoing agreements or instruments contemplated hereby, whether
or not any Indemnitee is a party thereto; provided that such indemnity
shall not, as to any Indemnitee, be available to the extent that such losses,
claims, damages, liabilities or related expenses are determined by a court
of
competent jurisdiction by final and nonappealable judgment to have resulted
from
the gross negligence, bad faith or willful misconduct of such Indemnitee or
of
any Affiliate, director, officer, employee, counsel, agent or attorney-in-fact
of such Indemnitee.
(c) Any
such
amounts payable as provided hereunder shall be additional Obligations guaranteed
hereby. The provisions of this Section 4.06 shall remain operative
and in full force and effect regardless of the termination of this Agreement
or
any other Loan Document, the consummation of the transactions contemplated
hereby, the repayment of any of the Obligations, the invalidity or
unenforceability of any term or provision of this Agreement or any other Loan
Document, or any investigation made by or on behalf of the Administrative Agent
or any Lender. All amounts due under this Section 4.06 shall be
payable within ten Business Days of written demand therefor.
SECTION
4.07. Successors
and
Assigns. The provisions of this Agreement shall be binding
upon and shall inure to the benefit of each Guarantee Party, the Administrative
Agent and the Lenders and their respective successors and assigns permitted
hereby, except that no Guarantee Party
7
shall
have the right to assign or transfer its rights or obligations hereunder or
any
interest herein (and any such assignment or transfer shall be void) except
as
expressly contemplated by this Agreement or the other Loan
Documents. Whenever in this Agreement any of the parties hereto is
referred to, such reference shall be deemed to include the permitted successors
and assigns of such party.
SECTION
4.08. Counterparts;
Several
Agreement. This Agreement may be executed in one or more
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one-and-the-same instrument. This Agreement
shall become effective as to any Guarantee Party when a counterpart hereof
executed on behalf of such Guarantee Party shall have been delivered to the
Administrative Agent and a counterpart hereof shall have been executed on behalf
of the Administrative Agent. Delivery by telecopier or electronic
transmission of an executed counterpart of a signature page to this Agreement
shall be effective as delivery of an original executed counterpart of this
Agreement. The Administrative Agent may also require that any such
documents and signatures delivered by telecopier or electronic transmission
be
confirmed by a manually signed original thereof; provided that the failure
to
request or deliver the same shall not limit the effectiveness of any document
or
signature delivered by telecopier or electronic transmission. Without
in any way affecting the joint and several nature of the obligations created
hereunder, this Agreement shall be construed as a separate agreement with
respect to each Guarantee Party and may be amended, modified, supplemented,
waived or released with respect to any Guarantee Party without the approval
of
any other Guarantee Party and without affecting the obligations of any other
Guarantee Party hereunder.
SECTION
4.09. Severability. If
any provision of this Agreement is held to be illegal, invalid or unenforceable,
the legality, validity and enforceability of the remaining provisions of this
Agreement shall not be affected or impaired thereby. The invalidity
of a provision in a particular jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction. To the extent
permitted under applicable law, the parties hereto shall endeavor in good-faith
negotiations to replace the invalid, illegal or unenforceable provisions with
valid provisions the economic effect of which comes as close as possible to
that
of the invalid, illegal or unenforceable provisions.
SECTION
4.10. Right
of
Set-Off. In addition to any rights and remedies of the Lenders
provided by Law, upon the occurrence and during the continuance of any Event
of
Default, each Lender and any of its respective Affiliates is authorized at
any
time and from time to time, without prior notice to any Guarantee Party, any
such notice being waived by each Guarantee Party to the fullest extent permitted
by applicable Law, to set off and apply any and all deposits (general or
special, time or demand, provisional or final) in any currency at any time
held
by, and other Indebtedness in any currency (in each case whether direct or
indirect, absolute or contingent, matured or unmatured) at any time held or
owing by, such Lender or any of its respective Affiliates to or for the credit
or the account of any Loan Party and any Subsidiary of any Loan Party against
any and all Obligations owing to such Lender and its Affiliates hereunder or
under any other Loan Document, now or hereafter existing, irrespective of
whether or not such Lender or Affiliate shall have made demand under this
Agreement or any other Loan Document and although such Obligations may be
contingent or unmatured or denominated in a currency different from that of
the
applicable deposit or Indebtedness. Notwithstanding anything to the
contrary contained herein, no Lender or any of its respective Affiliates shall
have a right to set off and apply any deposits held by, or other Indebtedness
owing by, such Lender or any of its Affiliates to or for the credit or the
account of any Subsidiary of a Loan Party that is not a “United States person”
within the meaning of Section 7701(a)(30) of the Code unless such Subsidiary
is
not a direct or indirect subsidiary of Parent. Each Lender agrees
promptly to notify the Borrowers and the Administrative Agent after any such
set
off and application made by such Lender; provided that the failure
to
give such notice shall not affect the validity of such setoff and
application. The rights of the Lenders under this Section 4.10 are in
addition to other rights and remedies (including other rights of setoff) that
the Lenders may have.
8
SECTION
4.11. Governing
Law; Jurisdiction;
Venue; Waiver Of Jury Trial; Consent To Service Of
Process.
(a) The
terms
of Section 10.16 and 10.17 of the Credit Agreement with respect to governing
law, submission of jurisdiction, venue and waiver of trial by jury are
incorporated herein by reference, mutatis mutandis, and the
parties hereto agree to such terms.
(b) Each
party to this Agreement irrevocably consents to service of process in the manner
provided for notices in Section 4.04. Nothing in this Agreement will
affect the right of any party to this Agreement to serve process in any other
manner permitted by law.
SECTION
4.12. Headings. Article
and Section headings and the Table of Contents used herein are for convenience
of reference only, are not part of this Agreement and are not to affect the
construction of, or to be taken into consideration in interpreting, this
Agreement.
SECTION
4.13. Termination
or
Release. (a) This Agreement
and the Guarantees made herein shall terminate with respect to all Obligations
when all the outstanding Obligations (other than contingent indemnification
obligations not yet accrued and payable) have been fully and indefeasibly paid
in full in cash, and all other Obligations (including a guarantee that is
contingent in nature) have expired or terminated, and the Lenders have no
further commitment to lend under the Credit Agreement.
(b) A
Guarantor shall automatically be released from its obligations hereunder as
provided in Section 9.13 of the Credit Agreement.
(c) In
connection with any termination or release pursuant to paragraph (a) or (b)
of
this Section 4.13, the Administrative Agent shall execute and deliver to any
Guarantor, at such Guarantor’s expense, all documents that such Guarantor shall
reasonably request to evidence such termination or release, in each case in
accordance with the terms of Section 9.13 of the Credit
Agreement. Any execution and delivery of documents pursuant to this
Section 4.13 shall be without recourse to or warranty by the Administrative
Agent.
(d) At
any
time that the Borrowers desire that the Administrative Agent take any of the
actions described in immediately preceding paragraph (c), it shall, upon request
of the Administrative Agent, deliver to the Administrative Agent a certificate
from a Responsible Officer of the Borrowers certifying that the release of
the
respective Guarantor is permitted pursuant to paragraph (a) or
(b). The Administrative Agent shall have no liability whatsoever to
any Lender as a result of any release of any Guarantor by it as permitted (or
which the Administrative Agent in good faith believes to be permitted) by this
Section 4.13.
SECTION
4.14. Additional
Guarantors. Each Material Domestic Subsidiary of the Parent
that is required to enter in this Agreement as a Guarantor pursuant to Section
6.12 of the Credit Agreement shall execute and deliver a Guarantee Supplement
in
form and substance substantially similar to Exhibit I hereto and thereupon
such
Material Domestic Subsidiary shall become a Guarantor hereunder with the same
force and effect as if originally named as a Guarantor herein. The
execution and delivery of any such instrument shall not require the consent
of
any other Guarantee Party hereunder. The rights and obligations of
each Guarantee Party hereunder shall remain in full force and effect
notwithstanding the addition of any new Guarantee Party as a party to this
Agreement.
SECTION
4.15. Limitation
on
Guaranteed
Obligations. Each Guarantor and each Lender (by its acceptance
of the benefits of this Agreement) hereby confirms that it is its intention
that
this Agreement not constitute a fraudulent transfer or conveyance for purposes
of any Bankruptcy Law
9
(including
the Bankruptcy Code, the Uniform Fraudulent Conveyance Act or any similar
Federal or state law). To effectuate the foregoing intention, each
Guarantor and each Lender (by its acceptance of the benefits of this Agreement)
hereby irrevocably agrees that the Obligations owing by such Guarantor under
this Agreement shall be limited to the maximum amount as will result in the
Obligations of such Guarantor in respect of such maximum amount not constituting
a fraudulent transfer or conveyance.
SECTION
4.16. Survival. All
representations and
warranties made hereunder or other document delivered pursuant hereto or in
connection herewith shall survive the execution and delivery hereof, and shall continue
in full
force and effect as long as any Loan or any other Obligation hereunder shall
remain unpaid or unsatisfied. Notwithstanding anything
herein or implied by law to the contrary, the agreements of each Guarantee
Party
setforth
in Section 4.03, Section 4.06 and
Section 4.10 shall survive termination of the Aggregate Commitments and the
repayment of all Obligations.
[Signatures
on following page]
10
IN
WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of
the
day and year first above written.
ALLTEL
CORPORATION,
as
a
Guarantor
By: /s/
Xxxxxxxx X. Xxxxxxx
Name:
Xxxxxxxx X. Xxxxxxx
Title:
Executive Vice President and
Chief
Financial Officer
EACH
OF THE GUARANTORS LISTED
ON
ANNEX A HERETO,
each
as a
Guarantor
By: /s/
Xxxxxxxx X. Xxxxxxx
Name: Xxxxxxxx
X. Xxxxxxx
Title:
Authorized Signatory
|
IN
WITNESS WHEREOF, for the purposes of Section 3.01 only, the undersigned has
executed this Agreement as of the date first written above.
ALLTEL COMMUNICATIONS, INC.
By: /s/ Xxxxxxxx X. Xxxxxxx
Name: Xxxxxxxx X. Xxxxxxx
Title: Executive Vice President and
Chief Financial Officer
ALLTEL COMMUNICATIONS FINANCE, INC.
By: /s/ Xxxxxxxx X. Xxxxxxx
Name: Xxxxxxxx X. Xxxxxxx
Title: Executive Vice President and
Chief Financial Officer
|
IN
WITNESS WHEREOF, the parties have duly executed this Agreement as of the day
and
year first above written.
CITIBANK,
N.A., as Administrative Agent
By: /s/ Xxxx X. Xxx
Xxxxxx
Name: Xxxx X. Xxx Xxxxxx
Title:
Vice President
|
ANNEX
A
GUARANTORS
1.
|
ACI
Procurement Company LP
|
2.
|
ALLTEL
Cellular Associates of Arkansas Limited
Partnership
|
3.
|
ALLTEL
Communications Investments, Inc.
|
4.
|
ALLTEL
Communications of Michigan RSA #4,
Inc.
|
5.
|
ALLTEL
Communications of Michigan RSA #6 Cellular Limited
Partnership
|
6.
|
ALLTEL
Communications of Michigan RSAs,
Inc.
|
7.
|
ALLTEL
Communications of Mississippi RSA #2,
Inc.
|
8.
|
ALLTEL
Communications of Mississippi RSA #6,
Inc.
|
9.
|
ALLTEL
Communications of Mississippi RSA #7,
Inc.
|
10.
|
ALLTEL
Communications of Nebraska, Inc.
|
11.
|
ALLTEL
Communications of New Mexico, Inc.
|
12.
|
ALLTEL
Communications of North Arkansas,
Inc.
|
13.
|
ALLTEL
Communications of North Louisiana Cellular Limited
Partnership
|
14.
|
ALLTEL
Communications of Ohio No. 2, Inc.
|
15.
|
ALLTEL
Communications of Ohio No. 3, Inc.
|
16.
|
ALLTEL
Communications of Petersburg, Inc.
|
17.
|
ALLTEL
Communications of Pine Bluff, LLC
|
18.
|
ALLTEL
Communications of Saginaw, Inc.
|
19.
|
ALLTEL
Communications of South Arkansas,
Inc.
|
20.
|
ALLTEL
Communications of Southern Michigan Cellular Limited
Partnership
|
21.
|
ALLTEL
Communications of Southern Michigan,
Inc.
|
22.
|
ALLTEL
Communications of Southwest Arkansas Cellular Limited
Partnership
|
23.
|
ALLTEL
Communications of Texarkana, Inc.
|
24.
|
ALLTEL
Communications of Texas Limited
Partnership
|
25.
|
ALLTEL
Communications of the Southwest Limited
Partnership
|
26.
|
ALLTEL
Communications of Virginia No. 1,
Inc.
|
27.
|
ALLTEL
Communications of Virginia, Inc.
|
28.
|
ALLTEL
Communications Southwest Holdings,
Inc.
|
29.
|
ALLTEL
Communications Wireless of Louisiana,
Inc.
|
30.
|
ALLTEL
Communications Wireless, Inc.
|
31.
|
Alltel
Group
|
32.
|
Alltel
Group LLC
|
33.
|
Alltel
Incentives LLC
|
34.
|
ALLTEL
International Holding, Inc.
|
35.
|
ALLTEL
Investments, Inc.
|
36.
|
ALLTEL
Mobile of Louisiana, LLC
|
37.
|
ALLTEL
Newco LLC
|
38.
|
ALLTEL
Ohio Limited Partnership
|
39.
|
ALLTEL
Properties, LLC
|
40.
|
ALLTEL
Remote Access, Inc.
|
41.
|
ALLTEL
Telelink, Inc.
|
42.
|
ALLTEL
Wireless Holdings of Nebraska, Inc.
|
43.
|
ALLTEL
Wireless Holdings, LLC
|
44.
|
ALLTEL
Wireless of Alexandria, LLC
|
45.
|
ALLTEL
Wireless of LaCrosse, LLC
|
46.
|
ALLTEL
Wireless of Michigan RSA #1 and RSA #2, Inc.
|
47.
|
ALLTEL
Wireless of Mississippi RSA #5,
LLC
|
48.
|
ALLTEL
Wireless of North Louisiana, LLC
|
49.
|
ALLTEL
Wireless of Shreveport, LLC
|
50.
|
ALLTEL
Wireless of Texarkana, LLC
|
51.
|
ALLTEL
Wireless of Wisconsin Appleton-Oshkosh- Neenah MSA,
LLC
|
52.
|
ALLTEL
Wireless of Wisconsin RSA #1, LLC
|
53.
|
ALLTEL
Wireless of Wisconsin RSA #10, LLC
|
54.
|
ALLTEL
Wireless of Wisconsin RSA #2, LLC
|
55.
|
ALLTEL
Wireless of Wisconsin RSA #3, LLC
|
56.
|
ALLTEL
Wireless of Wisconsin RSA #6, LLC
|
57.
|
ALLTEL
Wireless of Wisconsin RSA #8, LLC
|
58.
|
Appleton-Oshkosh-Neenah
MSA Limited Partnership
|
59.
|
Cellular
of Southern Illinois, Inc.
|
60.
|
Celutel,
Inc.
|
61.
|
Central
Florida Cellular Telephone Company,
Inc.
|
62.
|
Control
Communications Industries, Inc.
|
63.
|
CP
National Corporation
|
64.
|
Dynalex,
Inc.
|
65.
|
Eau
Claire Cellular Telephone Limited
Partnership
|
66.
|
Eau
Claire Cellular, Inc.
|
67.
|
First
Wireless, LLC
|
68.
|
Great
Western Cellular Holdings, LLC
|
69.
|
ID
Holding, LLC
|
70.
|
KIN
Network, Inc.
|
71.
|
Midwest
Wireless Communications L.L.C.
|
72.
|
Midwest
Wireless Holdings L.L.C.
|
73.
|
Midwest
Wireless Iowa L.L.C.
|
74.
|
Midwest
Wireless Wisconsin L.L.C.
|
75.
|
Minford
Cellular Telephone Company
|
76.
|
MVI
Corp.
|
77.
|
N12AR,
LLC
|
78.
|
North-West
Cellular of Eau Claire, Inc.
|
79.
|
Ocean
Technology International, Inc.
|
80.
|
Ocean
Technology, Inc.
|
81.
|
Pacific
Telecom Cellular of Washington,
Inc.
|
82.
|
Pacific
Telecom Cellular, Inc.
|
83.
|
Pascagoula
Cellular Services, Inc.
|
84.
|
Radiofone,
Inc.
|
85.
|
RCTC
Wholesale Corporation
|
86.
|
Saginaw
Bay Cellular Company
|
87.
|
Six
Zulu Echo, LLC
|
88.
|
Southern
Illinois Cellular Corp.
|
89.
|
Southern
Illinois RSA Partnership
|
90.
|
Switch
2000 LLC
|
91.
|
Telecor
Cellular, Inc.
|
92.
|
Tucson
21 Cellular Limited Partnership
|
93.
|
UC/PTC
of Wisconsin, LLC
|
94.
|
Universal
Cellular, Inc.
|
95.
|
Virginia
Cellular LLC
|
96.
|
Western
CLEC Corporation
|
97.
|
Western
COG Corporation
|
98.
|
Western
Wireless International Austria
Corporation
|
99.
|
Western
Wireless International Bolivia III
Corporation
|
100.
|
Western
Wireless International Corporation
|
101.
|
Western
Wireless International Georgia
Corporation
|
102.
|
Western
Wireless International Ghana
Corporation
|
103.
|
Western
Wireless International Haiti
Corporation
|
104.
|
Western
Wireless International Holding
Corporation
|
105.
|
Western
Wireless International Ivory Coast
Corporation
|
106.
|
Western
Wireless International Ivory Coast II
Corporation
|
107.
|
Western
Wireless International Kosovo
Corporation
|
108.
|
Western
Wireless International SakSat
Corporation
|
109.
|
Western
Wireless International Slovenia
Corporation
|
110.
|
Western
Wireless International Slovenia II
Corporation
|
111.
|
Western
Wireless LLC
|
112.
|
WWC
CLEC Holding Corporation
|
113.
|
WWC
Holding Co., Inc.
|
114.
|
WWC
License Holding LLC
|
115.
|
WWC
License LLC
|
116.
|
WWC
Systems Purchasing Corporation
|
117.
|
WWC
Texas RSA Holding Corporation
|
118.
|
WWC
Texas RSA Limited Partnership
|
119.
|
Youngstown-Xxxxxx
MSA Limited Partnership
|
|
Exhibit
I
SUPPLEMENT
NO.____ dated as of [ ], to the Senior Interim Loan Guarantee
dated as of November 16, 2007 (the “Guarantee”), among ALLTEL
CORPORATION, a Delaware corporation (“Parent”), ALLTEL
COMMUNICATIONS, INC., a Delaware corporation (“ACI”), and ALLTEL
COMMUNICATIONS FINANCE, INC., a Delaware corporation (“ACFI” and, together with
ACI,
the “Borrowers”),
certain subsidiaries of Parent from time to time party hereto (collectively,
“Subsidiaries” and,
individually, “Subsidiary”), and CITIBANK,
N.A., as Administrative Agent (as defined below).
A.
Reference is made to the Senior Interim Loan Credit Agreement dated as of
November 16, 2007 (as amended, supplemented or otherwise modified from time
to
time, the “Credit
Agreement”), among the Borrowers, Parent, Citibank, N.A., as
Administrative Agent, and each lender from time to time party thereto
(collectively, the “Lenders” and individually,
a
“Lender”).
B.
Capitalized terms used herein and not otherwise defined herein shall have the
meanings assigned to such terms in the Credit Agreement.
C.
The Guarantors have entered into the Guarantee in order to induce the Lenders
to
make Loans. Section 4.14 of the Guarantee provides that additional Material
Domestic Subsidiaries of the Borrower may become Guarantors under the Guarantee
by execution and delivery of an instrument in the form of this
Supplement. The undersigned Material Domestic Subsidiary (the “New Subsidiary”) is executing
this Supplement in accordance with the requirements of the Credit Agreement
to
become a Guarantor under the Guarantee as consideration for Loans previously
made.
Accordingly,
the Administrative Agent and the New Subsidiary agree as follows:
SECTION
1. In accordance with Section 4.14 of the Guarantee, the New
Subsidiary by its signature below becomes a Guarantor under the Guarantee with
the same force and effect as if originally named therein as a Guarantor and
the
New Subsidiary hereby (a) agrees to all the terms and provisions of the
Guarantee applicable to it as a Guarantor thereunder and (b) represents and
warrants that the representations and warranties made by it as a Guarantor
thereunder are true and correct on and as of the date hereof. In
furtherance of the foregoing, the New Subsidiary, as security for the payment
and performance in full of the Obligations does hereby, for the benefit of
the
Lenders, their successors and assigns, irrevocably, absolutely and
unconditionally Guarantee, jointly with the other Guarantors and severally,
the
due and punctual payment and performance of the Obligations. Each
reference to a “Guarantor” in the Guarantee
shall be deemed to include the New Subsidiary and each reference in the Credit
Agreement and any other Loan Document to a “Guarantor”, “Subsidiary Guarantor”
or a “Loan Party” shall also be deemed to include the New
Subsidiary. The Guarantee is hereby incorporated herein by
reference.
SECTION
2. The New Subsidiary represents and warrants to the Administrative
Agent and the Lenders that this Supplement has been duly authorized, executed
and delivered by it and constitutes its legal, valid and binding obligation,
enforceable against it in accordance with its terms, except as such
enforceability may be limited by Bankruptcy Law and by general principles of
equity.
SECTION
3. This Supplement may be executed in counterparts (and by different
parties hereto on different counterparts), each of which shall constitute an
original, but all of which when taken together shall constitute a single
contract. This Supplement shall become effective when the
Administrative Agent shall have received a counterpart of this Supplement that
bears the signature of the New Subsidiary, and the Administrative Agent has
executed a counterpart hereof. Delivery of an executed signature page
to this Supplement by facsimile transmission or other electronic communication
shall be as effective as delivery of a manually signed counterpart of this
Supplement.
EXHIBIT
I-1
SECTION
4. Except as expressly supplemented hereby, the Guarantee shall
remain in full force and effect.
SECTION
5. THIS SUPPLEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE
WITH, THE LAWS OF THE STATE OF NEW YORK.
SECTION
6. If any provision contained in this Supplement is held to be
invalid, illegal or unenforceable, the legality, validity, and enforceability
of
the remaining provisions contained herein and in the Guarantee shall not be
affected or impaired thereby. The invalidity of a provision in a
particular jurisdiction shall not invalidate or render unenforceable such
provision in any other jurisdiction. To the extent permitted by
applicable law the parties hereto shall endeavor in good-faith negotiations
to
replace the invalid, illegal or unenforceable provisions with valid provisions
the economic effect of which comes as close as possible to that of the invalid,
illegal or unenforceable provisions.
SECTION
7. All communications and notices hereunder shall be in writing and
given as provided in Section 4.04 of the Guarantee.
SECTION
8. The New Subsidiary agrees to reimburse the Administrative Agent
for its reasonable out-of-pocket expenses in connection with the execution
and
delivery of this Supplement, including the reasonable fees, other charges and
disbursements of counsel for the Administrative Agent.
[SIGNATURE
ON THE FOLLOWING PAGE]
EXHIBIT
I-2
|
IN
WITNESS WHEREOF, the New Subsidiary and the Administrative Agent have duly
executed this Supplement to the Guarantee as of the day and year first above
written.
|
[NAME
OF NEW SUBSIDIARY],
|
|
By:
|
|
Name:
|
|
Title:
|
Jurisdiction of Formation:
Organizational Identification Number:
Address Of Chief Executive Office:
CITIBANK, N.A., as Administrative Agent
|
By:
|
|
Name:
|
|
Title:
|
EXHIBIT
I-3
|