Exhibit 10.5
EXECUTION COPY
AMENDED AND RESTATED SUBSIDIARY GUARANTEE AGREEMENT
(together with instruments executed and delivered pursuant to
Section 20, the "Agreement" or the "Subsidiary Guarantee
Agreement") dated as of August 12, 1998, as amended and restated
as of June 1, 2001, among each of the subsidiaries of Telemundo
Holdings, Inc., a Delaware corporation ("Holdings") of which
Telemundo Group, Inc., a Delaware corporation (the "Borrower"),
is a wholly owned subsidiary, listed on Schedule I hereto (such
subsidiaries being called individually a "Subsidiary Guarantor"
and collectively the "Subsidiary Guarantors") and CREDIT SUISSE
FIRST BOSTON, a bank organized under the laws of Switzerland,
acting through its New York Branch ("CSFB"), as collateral agent
(in such capacity, the "Collateral Agent") for the Secured
Parties (as defined in the Credit Agreement referred to below).
Reference is made to the Credit Agreement dated as of August 4, 1998, as
amended and restated in the form of the Amended and Restated Credit Agreement
dated as of June 1, 2001 (as amended, supplemented or otherwise modified from
time to time, the "Credit Agreement"), among the Borrower, Holdings, the lenders
from time to time party thereto (the "Lenders") and CSFB, as administrative
agent (in such capacity, the "Administrative Agent"), Collateral Agent and
issuing bank (in such capacity, the "Issuing Bank"). Capitalized terms used and
not defined herein (including, without limitation, the term "Obligations", as
used in Section 1 and elsewhere herein) are used with the meanings assigned to
such terms in the Credit Agreement.
The Lenders have agreed to make Loans to the Borrower, and the Issuing Bank
has agreed to issue Letters of Credit for the account of the Borrower, pursuant
to, and upon the terms and subject to the conditions specified in, the Credit
Agreement. Each of the Subsidiary Guarantors is a Subsidiary of Holdings and
acknowledges that it will derive substantial benefit from the making of the
Loans by the Lenders to the Borrower and the issuance of the Letters of Credit
by the Issuing Bank for the account of the Borrower. The obligations of the
Lenders to make Loans and of the Issuing Bank to issue Letters of Credit are
conditioned on, among other things, the execution and delivery by the Subsidiary
Guarantors of a Subsidiary Guarantee Agreement in the form hereof. As
consideration therefor and in order to induce the Lenders to make Loans and the
Issuing Bank to issue Letters of Credit, the Subsidiary Guarantors are willing
to execute this Agreement.
In connection with the amendment and restatement of the Credit Agreement,
the parties hereto desire to amend and restate, in the form of this Agreement,
the Guarantee Agreement dated as of August 12, 1998, among the Guarantors party
thereto and the Collateral Agent.
Accordingly, the parties hereto agree as follows:
2
SECTION 1. Guarantee. Each Subsidiary Guarantor unconditionally
guarantees, jointly with the other Guarantors and severally the due and
punctual payment by the Borrower of the Obligations. Each Subsidiary Guarantor
waives notice of and hereby consents to any agreements or arrangements
whatsoever by the Secured Parties with any other person pertaining to the
Obligations, including agreements and arrangements for payment, extension,
renewal, subordination, composition, arrangement, discharge or release of the
whole or any part of the Obligations, or for the discharge or surrender of any
or all security, or for the compromise, whether by way of acceptance of part
payment or otherwise, and the same shall in no way impair such Subsidiary
Guarantor's liability hereunder.
SECTION 2. Obligations Not Waived. To the fullest extent permitted by
applicable law, each Subsidiary Guarantor waives presentment to, demand of
payment from and protest to the Borrower of any of the Obligations, and also
waives notice of acceptance of its guarantee, notice of protest for nonpayment
and all other formalities. The obligations of each Subsidiary Guarantor
hereunder shall not be affected by (a) the failure of the Collateral Agent or
any other Secured Party to assert any claim or demand or to enforce or exercise
any right or remedy against any Loan Party under the provisions of any Loan
Document or otherwise, (b) any extension, renewal or increase of or in any of
the Obligations, (c) any rescission, waiver, amendment or modification of, or
any release from, any of the terms or provisions of any Loan Document, any
guarantee or any other agreement or instrument, (d) the release of (or the
failure to perfect a security interest in) any of the security held by the
Collateral Agent or any other Secured Party for the performance of the
Obligations or any of them or (e) the failure or delay of any Secured Party to
exercise any right or remedy against any other guarantor of the Obligations.
SECTION 3. Security. Each of the Subsidiary Guarantors authorizes the
Collateral Agent and each of the other Secured Parties to (a) take and hold
security for the payment of this Guarantee and the Obligations and exchange,
enforce, waive and release any such security, (b) apply such security and direct
the order or manner of sale thereof as they in their sole discretion may
determine and (c) release or substitute any one or more endorsees, other
guarantors or other obligors.
SECTION 4. Guarantee of Payment. Each Subsidiary Guarantor further agrees
that its guarantee constitutes a guarantee of payment when due and not of
collection, and waives any right to require that any resort be had by the
Collateral Agent or any other Secured Party to any security held for payment of
the Obligations or to any balance of any deposit account or credit on the books
of the Collateral Agent or any other Secured Party in favor of the Borrower or
any other person.
SECTION 5. No Discharge or Diminishment of Guarantee. The obligations of
each Subsidiary 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 setoff, counterclaim, recoupment or
3
termination whatsoever by reason of the invalidity, illegality or
unenforceability of the Obligations or otherwise. Without limiting the
generality of the foregoing, the obligations of each Subsidiary Guarantor
hereunder shall not be discharged or impaired or otherwise affected by the
failure of the Collateral Agent or any other Secured Party to assert any claim
or demand or to enforce any remedy under any Loan Document, any guarantee or any
other agreement or instrument, by any waiver or modification of any provision
thereof, by any default, failure or delay, wilful or otherwise, in the
performance of the Obligations, or by any other act, omission or delay to do any
other act that may or might in any manner or to any extent vary the risk of such
Subsidiary Guarantor or that would otherwise operate as a discharge of such
Subsidiary Guarantor as a matter of law or equity (other than the payment in
full in cash of all the Obligations) or which would impair or eliminate any
right of such Subsidiary Guarantor to subrogation.
SECTION 6. Defenses of Borrower Waived. To the fullest extent permitted
by applicable law, each of the Subsidiary Guarantors waives any defense based on
or arising out of the unenforceability of the Obligations or any part thereof
from any cause or the cessation from any cause of the liability (other than the
final and payment in full in cash of the Obligations) of the Borrower. The
Collateral Agent and the other Secured Parties may, at their election, foreclose
on any security held by one or more of them by one or more judicial or
nonjudicial sales, accept an assignment of any such security in lieu of
foreclosure, compromise or adjust any part of the Obligations, make any other
accommodation with the Borrower or any other guarantor or exercise any other
right or remedy available to them against the Borrower or any other guarantor,
without affecting or impairing in any way the liability of any Subsidiary
Guarantor hereunder except to the extent the Obligations have been fully,
finally and paid in cash. Pursuant to applicable law, each of the Subsidiary
Guarantors 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
Subsidiary Guarantor against the Borrower or any other guarantor or any
security.
SECTION 7. Agreement to Pay; Subordination. In furtherance of the
foregoing and not in limitation of any other right that the Collateral Agent or
any other Secured Party has at law or in equity against any Subsidiary Guarantor
by virtue hereof, upon the failure of the Borrower or any other Loan 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 Subsidiary
Guarantor hereby promises to and will, upon receipt of written demand by (i) in
the case of principal of and interest on the Loans and Fees, the Collateral
Agent or (ii) in the case of any other Obligation, the applicable Secured Party,
forthwith pay, or cause to be paid, to the Collateral Agent or such other
Secured Party as designated thereby in cash an amount equal to the unpaid
principal amount of such Obligations then due, together with accrued and unpaid
interest and fees on such Obligations. Upon payment by any Subsidiary Guarantor
of any sums to the Collateral Agent or any Secured Party as provided above, all
rights of such Subsidiary Guarantor against the Borrower arising as a result
thereof by way of right of subrogation, contribution, reimbursement, indemnity
or otherwise shall in all respects be subordinate and junior in right of payment
to the
4
prior payment in full in cash of all the Obligations. In addition, any
indebtedness of the Borrower now or hereafter held by any Subsidiary Guarantor
is hereby subordinated in right of payment to the prior payment in full of the
Obligations. If any amount shall be paid to any Subsidiary Guarantor on account
of (i) such subrogation, contribution, reimbursement, indemnity or similar right
or (ii) any such indebtedness of the Borrower, such amount shall be held in
trust for the benefit of the Secured Parties and shall forthwith be paid to the
Collateral Agent to be credited against the payment of the Obligations, whether
matured or unmatured, in accordance with the terms of the Loan Documents.
SECTION 8. Information. Each of the Subsidiary Guarantors assumes all
responsibility for being and keeping itself informed of the Borrower's financial
condition and assets, all other circumstances bearing upon the risk of
nonpayment of the Obligations and the nature, scope and extent of the risks that
such Subsidiary Guarantor assumes and incurs hereunder and agrees that none of
the Collateral Agent or the other Secured Parties will have any duty to advise
any of the Guarantors of information known to it or any of them regarding such
circumstances or risks.
SECTION 9. Representations and Warranties. Each of the Subsidiary
Guarantors represents and warrants as to itself that all representations and
warranties relating to it contained in the Credit Agreement are true and
correct.
SECTION 10. Termination. The Guarantees made hereunder (a) shall
terminate when all the Obligations have been paid in full and the Lenders have
no further commitment to lend under the Credit Agreement, the L/C Exposure has
been reduced to zero and the Issuing Bank has no further obligation to issue
Letters of Credit under the Credit Agreement and (b) shall continue to be
effective or be reinstated, as the case may be, if at any time any payment, or
any part thereof, on any Obligation is rescinded or must otherwise be restored
by any Secured Party or any Guarantor upon the bankruptcy or reorganization of
the Borrower or any Guarantor or otherwise.
SECTION 11. Binding Effect; Several Agreement; Assignments. Whenever in
this Agreement any of the parties hereto is referred to, such reference shall be
deemed to include the successors and assigns of such party; and all covenants,
promises and agreements by or on behalf of the Subsidiary Guarantors that are
contained in this Agreement shall bind and inure to the benefit of each party
hereto and their respective successors and assigns. This Agreement shall become
effective as to any Subsidiary Guarantor when a counterpart hereof (or a
Supplement referred to in Section 20) executed on behalf of such Subsidiary
Guarantor shall have been delivered to the Collateral Agent and a counterpart
hereof (or a Supplement referred to in Section 20) shall have been executed on
behalf of the Collateral Agent, and thereafter shall be binding upon such
Subsidiary Guarantor and the Collateral Agent and their respective successors
and assigns, and shall inure to the benefit of such Subsidiary Guarantor, the
Collateral Agent and the other Secured Parties, and their respective successors
and assigns, except that no Subsidiary
5
Guarantor shall have the right to assign its rights or obligations hereunder or
any interest herein (and any such attempted assignment shall be void). If all or
virtually all the capital stock, assets or property of a Subsidiary Guarantor is
sold, transferred or otherwise disposed of in a transaction permitted by Section
6.05 of the Credit Agreement, such Subsidiary Guarantor shall be released from
its obligations under this Agreement without further action. This Agreement
shall be construed as a separate agreement with respect to each Subsidiary
Guarantor and may be amended, modified, supplemented, waived or released with
respect to any Subsidiary Guarantor without the approval of any other Guarantor
and without affecting the obligations of any other Guarantor.
SECTION 12. Waivers; Amendment. (a) No failure or delay of the
Collateral Agent in exercising any power or right hereunder 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 Collateral Agent hereunder
and of the other Secured Parties under the other Loan Documents are cumulative
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
Subsidiary Guarantor therefrom shall in any event be effective unless the same
shall be permitted by paragraph (b) below, and then such waiver or consent shall
be effective only in the specific instance and for the purpose for which given.
No notice or demand on any Subsidiary Guarantor in any case shall entitle such
Subsidiary Guarantor 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 a written agreement entered into between the
Subsidiary Guarantors with respect to which such waiver, amendment or
modification relates and the Collateral Agent, with the prior written consent of
the Required Lenders (except as otherwise provided in the Credit Agreement).
SECTION 13. Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY, AND
CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.
SECTION 14. Notices. All communications and notices hereunder shall be in
writing and given as provided in Section 10.01 of the Credit Agreement. All
communications and notices hereunder to each Subsidiary Guarantor shall be given
to it at its address set forth in Schedule I.
SECTION 15. Survival of Agreement; Severability. (a) All covenants,
agreements, representations and warranties made by the Subsidiary Guarantors
herein and in the certificates or other instruments prepared or delivered in
connection with or pursuant to this Agreement or any other Loan Document shall
be considered to have been relied upon by the Collateral Agent and the other
Secured Parties and shall survive the making by the Lenders of the Loans and the
issuance of the Letters of Credit by the Issuing Bank regardless of any
investigation made by the
6
Secured Parties or on their behalf, and shall continue in full force and effect
until terminated in accordance with Section 10.
(b) In the event any one or more of the provisions contained in this
Agreement should be held invalid, illegal or unenforceable in any respect, the
validity, legality and enforceability of the remaining provisions contained
herein shall not in any way be affected or impaired thereby (it being understood
that the invalidity of a particular provision in a particular jurisdiction shall
not in and of itself affect the validity of such provision in any other
jurisdiction). The parties 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 16. Counterparts. This Agreement may be executed in counterparts,
each of which shall constitute an original, but all of which when taken together
shall constitute a single contract, and shall become effective as provided in
Section 11. Delivery of an executed signature page to this Agreement by
facsimile transmission shall be as effective as delivery of a manually executed
counterpart of this Agreement.
SECTION 17. Rules of Interpretation. The rules of interpretation
specified in Section 1.02 of the Credit Agreement shall be applicable to this
Agreement.
SECTION 18. Jurisdiction; Consent to Service of Process. (a) Each
Subsidiary Guarantor hereby irrevocably and unconditionally submits, for itself
and its property, to the nonexclusive jurisdiction of any New York State court
or Federal court of the United States of America sitting in New York City, and
any appellate court from any thereof, in any action or proceeding arising out of
or relating to this Agreement or the other Loan Documents, or for recognition or
enforcement of any judgment, and each of the parties hereto hereby irrevocably
and unconditionally agrees that all claims in respect of any such action or
proceeding may be heard and determined in such New York State or, to the extent
permitted by law, in such Federal court. Each of the parties hereto agrees that
a final judgment in any such action or proceeding shall be conclusive and may be
enforced in other jurisdictions by suit on the judgment or in any other manner
provided by law. Nothing in this Agreement shall affect any right that the
Collateral Agent or any other Secured Party may otherwise have to bring any
action or proceeding relating to this Agreement or the other Loan Documents
against any Guarantor or its properties in the courts of any jurisdiction.
(b) Each Subsidiary Guarantor hereby irrevocably and unconditionally
waives, to the fullest extent it may legally and effectively do so, any
objection that it may now or hereafter have to the laying of venue of any suit,
action or proceeding arising out of or relating to this Agreement or the other
Loan Documents in any New York State or Federal court. Each of the parties
hereto hereby irrevocably waives, to the fullest extent permitted by law, the
defense of an inconvenient forum to the maintenance of such action or proceeding
in any such court.
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(c) Each party to this Agreement irrevocably consents to service of
process in the manner provided for notices in Section 14. 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 19. Waiver of Jury Trial. EACH PARTY HERETO HEREBY WAIVES, TO THE
FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY
JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER
OR IN CONNECTION WITH THIS AGREEMENT OR ANY OF THE OTHER LOAN DOCUMENTS. EACH
PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY
OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD
NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B)
ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER
INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS, AS APPLICABLE, BY, AMONG OTHER
THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 19.
SECTION 20. Additional Guarantors. Pursuant to Section 5.09 of the Credit
Agreement, each Subsidiary (other than any Foreign Subsidiary) that was not in
existence on the date of the Credit Agreement is required to enter into this
Agreement as a Subsidiary Guarantor upon becoming a Subsidiary. Upon execution
and delivery after the date hereof by the Collateral Agent and such a Subsidiary
of a Supplement in the form of Annex 1, such Subsidiary shall become a
Subsidiary Guarantor hereunder with the same force and effect as if originally
named as a Subsidiary Guarantor herein. The execution and delivery of any
Supplement adding an additional Subsidiary Guarantor as a party to this
Agreement shall not require the consent of any other Subsidiary Guarantor
hereunder. The rights and obligations of each Subsidiary Guarantor hereunder
shall remain in full force and effect notwithstanding the addition of any new
Subsidiary Guarantor as a party to this Agreement.
SECTION 21. Right of Setoff. If an Event of Default shall have occurred
and be continuing, each Secured Party is hereby authorized at any time and from
time to time, to the fullest extent permitted by law, to set off and apply any
and all deposits (general or special, time or demand, provisional or final) at
any time held and other Indebtedness at any time owing by such Secured Party to
or for the credit or the account of any Subsidiary Guarantor against any or all
the obligations of such Subsidiary Guarantor now or hereafter existing under
this Agreement and the other Loan Documents held by such Secured Party,
irrespective of whether or not the Collateral Agent or any Secured Party shall
have made any demand under this Agreement or any other Loan Document and
although such obligations may be unmatured. The rights of each Secured Party
under this Section 21 are in addition to other rights and remedies (including
other rights of setoff) which such Secured Party may have.
IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as
of the day and year first above written.
XXXXXXXX COMMUNICATIONS, INC.,
by /s/ Xxxxxxx X. Xxxxxxx
------------------------------
Name: Xxxxxxx X. Xxxxxxx
Title: Chief Financial Officer and Treasurer
XXXXXXXX LICENSE CORPORATION,
by /s/ Xxxxxxx X. Xxxxxxx
------------------------------
Name: Xxxxxxx X. Xxxxxxx
Title: Chief Financial Officer and Treasurer
NEW JERSEY TELEVISION BROADCASTING CORP. (N.Y.),
by /s/ Xxxxxxx X. Xxxxxxx
------------------------------
Name: Xxxxxxx X. Xxxxxxx
Title: Chief Financial Officer and Treasurer
SACC ACQUISITION CORP.,
by /s/ Xxxxxxx X. Xxxxxxx
------------------------------
Name: Xxxxxxx X. Xxxxxxx
Title: Chief Financial Officer and Treasurer
SAT CORP.,
by /s/ Xxxxxxx X. Xxxxxxx
------------------------------
Name: Xxxxxxx X. Xxxxxxx
Title: Chief Financial Officer and Treasurer
SPANISH AMERICAN COMMUNICATIONS CORPORATION,
by /s/ Xxxxxxx X. Xxxxxxx
------------------------------
Name: Xxxxxxx X. Xxxxxxx
Title: Chief Financial Officer and Treasurer
TELEMUNDO NETWORK, INC.,
by /s/ Xxxxxxx X. Xxxxxxx
------------------------------
Name: Xxxxxxx X. Xxxxxxx
Title: Chief Financial Officer and Treasurer
TELEMUNDO NEWS NETWORK, INC.,
by /s/ Xxxxxxx X. Xxxxxxx
------------------------------
Name: Xxxxxxx X. Xxxxxxx
Title: Chief Financial Officer and Treasurer
TELEMUNDO OF CHICAGO, INC.,
by /s/ Xxxxxxx X. Xxxxxxx
------------------------------
Name: Xxxxxxx X. Xxxxxxx
Title: Chief Financial Officer and Treasurer
TELEMUNDO OF COLORADO SPRINGS, INC.,
by /s/ Xxxxxxx X. Xxxxxxx
------------------------------
Name: Xxxxxxx X. Xxxxxxx
Title: Chief Financial Officer and Treasurer
TELEMUNDO OF FLORIDA, INC.,
by /s/ Xxxxxxx X. Xxxxxxx
------------------------------
Name: Xxxxxxx X. Xxxxxxx
Title: Chief Financial Officer and Treasurer
TELEMUNDO OF FLORIDA LICENSE CORPORATION,
by /s/ Xxxxxxx X. Xxxxxxx
------------------------------
Name: Xxxxxxx X. Xxxxxxx
Title: Chief Financial Officer and Treasurer
TELEMUNDO OF GALVESTON-HOUSTON, INC.,
by /s/ Xxxxxxx X. Xxxxxxx
------------------------------
Name: Xxxxxxx X. Xxxxxxx
Title: Chief Financial Officer and Treasurer
TELEMUNDO OF GALVESTON-HOUSTON LICENSE CORPORATION,
by /s/ Xxxxxxx X. Xxxxxxx
------------------------------
Name: Xxxxxxx X. Xxxxxxx
Title: Chief Financial Officer and Treasurer
TELEMUNDO OF LOS ANGELES, INC.,
by /s/ Xxxxxxx X. Xxxxxxx
------------------------------
Name: Xxxxxxx X. Xxxxxxx
Title: Chief Financial Officer and Treasurer
TELEMUNDO OF LOS ANGELES LICENSE CORP.,
by /s/ Xxxxxxx X. Xxxxxxx
------------------------------
Name: Xxxxxxx X. Xxxxxxx
Title: Chief Financial Officer and Treasurer
TELEMUNDO OF MEXICO, INC.,
by /s/ Xxxxxxx X. Xxxxxxx
------------------------------
Name: Xxxxxxx X. Xxxxxxx
Title: Chief Financial Officer and Treasurer
TELEMUNDO OF NORTHERN CALIFORNIA, INC.,
by /s/ Xxxxxxx X. Xxxxxxx
------------------------------
Name: Xxxxxxx X. Xxxxxxx
Title: Chief Financial Officer and Treasurer
TELEMUNDO OF NORTHERN CALIFORNIA LICENSE
CORPORATION,
by /s/ Xxxxxxx X. Xxxxxxx
------------------------------
Name: Xxxxxxx X. Xxxxxxx
Title: Chief Financial Officer and Treasurer
TELEMUNDO OF PUERTO RICO LICENSE
CORPORATION,
by /s/ Xxxxxxx X. Xxxxxxx
----------------------------------
Name: Xxxxxxx X. Xxxxxxx
Title: Chief Financial Officer and Treasurer
TELEMUNDO OF SAN ANTONIO, INC.,
by /s/ Xxxxxxx X. Xxxxxxx
----------------------------------
Name: Xxxxxxx X. Xxxxxxx
Title: Chief Financial Officer and Treasurer
TELEMUNDO OF SAN ANTONIO LICENSE
CORPORATION,
by /s/ Xxxxxxx X. Xxxxxxx
----------------------------------
Name: Xxxxxxx X. Xxxxxxx
Title: Chief Financial Officer and Treasurer
TELEMUNDO OF STEAMBOAT SPRINGS
COLORADO, INC.,
by /s/ Xxxxxxx X. Xxxxxxx
----------------------------------
Name: Xxxxxxx X. Xxxxxxx
Title: Chief Financial Officer and Treasurer
TELEMUNDO OF STEAMBOAT SPRINGS
COLORADO LICENSE CORPORATION,
by /s/ Xxxxxxx X. Xxxxxxx
----------------------------------
Name: Xxxxxxx X. Xxxxxxx
Title: Chief Financial Officer and Treasurer
TELEMUNDO OF KEY WEST, INC.,
by /s/ Xxxxxxx X. Xxxxxxx
------------------------------------
Name: Xxxxxxx X. Xxxxxxx
Title: Chief Financial Officer and Treasurer
TELEMUNDO OF KEY WEST LICENSE
CORPORATION,
by /s/ Xxxxxxx X. Xxxxxxx
------------------------------------
Name: Xxxxxxx X. Xxxxxxx
Title: Chief Financial Officer and Treasurer
TELENOTICIAS DEL MUNDO, INC.,
by /s/ Xxxxxxx X. Xxxxxxx
------------------------------------
Name: Xxxxxxx X. Xxxxxxx
Title: Chief Financial Officer and Treasurer
TELENOTICIAS DEL MUNDO, L.P.,
by /s/ Xxxxxxx X. Xxxxxxx
------------------------------------
Name: Xxxxxxx X. Xxxxxxx
Chief Financial Officer and Treasurer
TU MUNDO MUSIC, INC.,
by /s/ Xxxxxxx X. Xxxxxxx
------------------------------------
Name: Xxxxxxx X. Xxxxxxx
Title: Chief Financial Officer and Treasurer
VIDEO 44 ACQUISITION CORP., INC.,
by /s/Xxxxxxx X. Xxxxxxx
------------------------------------
Name: Xxxxxxx X. Xxxxxxx
Title: Chief Financial Officer and Treasurer
WNJU LICENSE CORPORATION,
by /s/Xxxxxxx X. Xxxxxxx
------------------------------------
Name: Xxxxxxx X. Xxxxxxx
Title: Chief Financial Officer and Treasurer
WNJU-TV BROADCASTING CORPORATION,
by /s/Xxxxxxx X. Xxxxxxx
------------------------------------
Name: Xxxxxxx X. Xxxxxxx
Title: Chief Financial Officer and Treasurer
CREDIT SUISSE FIRST BOSTON, AS Collateral
Agent,
by /s/ Xxxxxx X. Xxxxxx
---------------------------
Name: Xxxxxx X. Xxxxxx
Title: Director
by /s/ Xxxxx X. Xxxxxx
---------------------------
Name: Xxxxx X. Xxxxxx
Title: Vice President
Schedule I to the Subsidiary
Guarantee Agreement
Subsidiary Guarantor Address
------------------- --------
Xxxxxxxx Communications, Inc. 0000X Xxx Xxx
Xxxxxxxx, XX 00000
Xxxxxxxx License Corporation 0000 Xxxx 0xx Xxxxxx
Xxxxxxx, XX 00000
New Jersey Television Broadcasting Corp. 0000 Xxxxxxxx, Xxx. 000
(X.X.) Xxx Xxxx, XX 00000
SACC Acquisition Corp. 0000 Xxxx 0xx Xxxxxx
Xxxxxxx, XX 00000
SAT Corp. 0000 Xxxx 0xx Xxxxxx
Xxxxxxx, XX 00000
Spanish American Communications 0000 Xxxx 0xx Xxxxxx
Xxxxxxxxxxx Xxxxxxx, XX 00000
Telemundo Network, Inc. 0000 Xxxx 0xx Xxxxxx
Xxxxxxx, XX 00000
Telemundo News Network, Inc. 0000 Xxxx 0xx Xxxxxx
Xxxxxxx, XX 00000
Telemundo of Chicago, Inc. 0000 Xxxx 0xx Xxxxxx
Xxxxxxx, XX 00000
Telemundo of Colorado Springs, Inc. 0000 Xxxx 0xx Xxxxxx
Xxxxxxx, XX 00000
Telemundo of Florida, Inc. 0000 Xxxx 0xx Xxxxxx
Xxxxxxx, XX 00000
Telemundo of Florida License Corporation 0000 Xxxx 0xx Xxxxxx
Xxxxxxx, XX 00000
Telemundo of Galveston-Houston, Inc. 0000 Xxxxxx Xxxxx Xxxxx
Xxxxxxx, XX 00000
Telemundo of Galveston-Houston License 0000 Xxxx 0xx Xxxxxx
Xxxxxxxxxxx Xxxxxxx, XX 00000
Telemundo of Los Angeles, Inc. 0000 Xxxx Xxxxxx Xxxxxxxxx
Xxx Xxxxxxx, XX 00000
Telemundo of Los Angeles License Corp. 0000 Xxxx 0xx Xxxxxx
Xxxxxxx, XX 00000
Telemundo of Mexico, Inc. 0000 Xxxx 0xx Xxxxxx
Xxxxxxx, XX 00000
Telemundo of Northern California, Inc. 0000 Xxxxxx Xxxxx
Xxx Xxxx, XX 00000
Telemundo of Northern California License 0000 Xxxx 0xx Xxxxxx
Xxxxxxxxxxx Xxxxxxx, XX 00000
Telemundo of Puerto Rico License 0000 Xxxx 0xx Xxxxxx
Xxxxxxxxxxx Xxxxxxx, XX 00000
Telemundo of San Antonio, Inc. 0000 Xxx Xxxxx
Xxx Xxxxxxx, XX 00000
Telemundo of San Antonio License 0000 Xxxx 0xx Xxxxxx
Xxxxxxxxxxx Xxxxxxx, XX 00000
Telemundo of Steamboat Springs Colorado, 0000 Xxxxxxx Xxxxxx, Xxxxx 000
Inc. Xxxxxx, XX 00000
Telemundo of Steamboat Springs Colorado 0000 Xxxx 0xx Xxxxxx
License Corporation Xxxxxxx, XX 00000
Telemundo of Key West, Inc. 0000 Xxxx 0xx Xxxxxx
Xxxxxxx, XX 00000
Telemundo of Key West License Corporation 0000 Xxxx 0xx Xxxxxx
Xxxxxxx, XX 00000
Telenoticias del Mundo, Inc. 0000 Xxxx 0xx Xxxxxx
Xxxxxxx, XX 00000
Telenoticias del Mundo, L.P. 0000 Xxxx 0xx Xxxxxx
Xxxxxxx, XX 00000
Tu Mundo Music, Inc. 0000 Xxxx 0xx Xxxxxx
Xxxxxxx, XX 00000
Video 44 Acquisition Corp. Inc. 0000 Xxxx 0xx Xxxxxx
Xxxxxxx, XX 00000
WNJU License Corporation 0000 Xxxx 0xx Xxxxxx
Xxxxxxx, XX 00000
WNJU-TV Broadcasting Corporation 00 Xxxxxxxxxx Xxxxxx
Xxxxxxxxx, XX 00000
Annex 1 to the Subsidiary
Guarantee Agreement
SUPPLEMENT NO. (this "Supplement") dated as of
, to the Subsidiary Guarantee Agreement dated as of August 12,
1998 as amended and restated in the form of the Amended and
Restated Subsidiary Guarantee Agreement dated June 1, 2001 the
"Subsidiary Guarantee Agreement"), among each of the subsidiaries
of Telemundo Holdings, Inc., a Delaware corporation ("Holdings")
of which Telemundo Group, Inc., a Delaware corporation (the
"Borrower"), is a wholly owned subsidiary, listed on Schedule I
thereto (such subsidiaries being called individually a
"Subsidiary Guarantor" and collectively the "Subsidiary
Guarantors") and CREDIT SUISSE FIRST BOSTON, a bank organized
under the laws of Switzerland, acting through its New York Branch
("CSFB"), as collateral agent (in such capacity, the "Collateral
Agent") for the Secured Parties (as defined in the Credit
Agreement referred to below).
A. Reference is made to the Credit Agreement dated as of August 4, 1998
as amended and restated in the form of the Amended and Restated Credit Agreement
as of June 1, 2001 (as amended, supplemented or otherwise modified from time to
time, the "Credit Agreement"), among the Borrower, Holdings, the lenders from
time to time party thereto (the "Lenders") and CSFB, as administrative agent (in
such capacity, the "Administrative Agent"), Collateral Agent and issuing bank
(in such capacity, the "Issuing Bank").
B. Capitalized terms used and not otherwise defined herein are used with
the meanings assigned to such terms in the Subsidiary Guarantee Agreement and
the Credit Agreement.
C. The Subsidiary Guarantors have entered into the Subsidiary Guarantee
Agreement in order to induce the Lenders to make Loans and the Issuing Bank to
issue Letters of Credit. Pursuant to Section 5.09 of the Credit Agreement, each
Subsidiary (other than any Foreign Subsidiary) of the Borrower that was not in
existence or not a Subsidiary on the date of the Credit Agreement is required to
enter into the Subsidiary Guarantee Agreement as a Subsidiary Guarantor upon
becoming a Subsidiary. Section 20 of the Subsidiary Guarantee Agreement
provides that additional Subsidiaries may become Subsidiary Guarantors under the
Subsidiary Guarantee Agreement by execution and delivery of an instrument in the
form of this Supplement. The undersigned Subsidiary (the "New Guarantor") is
executing this Supplement in accordance with the requirements of the Credit
Agreement to become a Subsidiary Guarantor under the Subsidiary Guarantee
Agreement in order to induce the Lenders to make additional Loans and the
Issuing Bank to issue additional Letters of Credit and as consideration for
Loans previously made and Letters of Credit previously issued.
Accordingly, the Collateral Agent and the New Guarantor agree as follows:
SECTION 1. In accordance with Section 20 of the Guarantee Agreement, the
New Guarantor by its signature below becomes a Subsidiary Guarantor under the
Subsidiary Guarantee Agreement with the same force and effect as if originally
named therein as a Subsidiary Guarantor and the New Guarantor hereby (a) agrees
to all the terms and provisions of the Subsidiary Guarantee Agreement applicable
to it as a Subsidiary Guarantor thereunder and (b) represents and warrants that
the representations and warranties made by it as a Subsidiary Guarantor
thereunder are true and correct on and as of the date hereof. Each reference to
a "Subsidiary Guarantor" in the Subsidiary Guarantee Agreement shall be deemed
to include the New Guarantor. The Subsidiary Guarantee Agreement is hereby
incorporated herein by reference.
SECTION 2. The New Guarantor represents and warrants to the Collateral
Agent and the other Secured Parties 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.
SECTION 3. This Supplement may be executed in 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
Collateral Agent shall have received counterparts of this Supplement that, when
taken together, bear the signatures of the New Guarantor and the Collateral
Agent. Delivery of an executed signature page to this Supplement by facsimile
transmission shall be as effective as delivery of a manually executed
counterpart of this Supplement.
SECTION 4. Except as expressly supplemented hereby, the Subsidiary
Guarantee Agreement 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. In case any one or more of the provisions contained in this
Supplement should be held invalid, illegal or unenforceable in any respect, the
validity, legality and enforceability of the remaining provisions contained
herein and in the Subsidiary Guarantee Agreement shall not in any way be
affected or impaired thereby (it being understood that the invalidity of a
particular provision hereof in a particular jurisdiction shall not in and of
itself affect the validity of such provision in any other jurisdiction). 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 14 of the Subsidiary Guarantee Agreement. All
communications and notices hereunder to the New Guarantor shall be given to it
at the address set forth under its signature below, with a copy to the Borrower.
SECTION 8. The New Guarantor agrees to reimburse the Collateral Agent for
its out-of-pocket expenses in connection with this Supplement, including the
fees, disbursements and other charges of counsel for the Collateral Agent.
IN WITNESS WHEREOF, the New Guarantor and the Collateral Agent have duly
executed this Supplement to the Subsidiary Guarantee Agreement as of the day and
year first above written.
[Name Of New Guarantor],
by
Name:
Title:
Address:
CREDIT SUISSE FIRST BOSTON, as Collateral Agent,
by
Name:
Title:
by
Name:
Title:
