FIRST AMENDMENT
Exhibit 10.21
FIRST AMENDMENT (this “Amendment”), dated as of December 31, 2005, to the Credit
Agreement dated as of November 4, 2005 (the “Credit Agreement”), among LIN Television
Corporation, a Delaware corporation (the “Borrower”), Televicentro of Puerto Rico, LLC, a
Delaware limited liability company (the “Permitted Borrower”), the several banks and other
institutions from time to time parties thereto (the “Lenders”), JPMorgan Chase Bank, N.A.,
as administrative agent (in such capacity, the “Administrative Agent”), as an issuing
lender (in such capacity, an “Issuing Lender”), and as swingline lender (in such capacity,
the “Swingline Lender”), Deutsche Bank Trust Company Americas, as syndication agent (in
such capacity, the “Syndication Agent”) and as an Issuing Lender, Xxxxxxx Xxxxx Credit
Partners, L.P., Bank of America, N.A. and Wachovia Bank, National Association as documentation
agents (in such capacity, each a “Documentation Agent”), and The Bank of Nova Scotia and
SunTrust Bank, as co-documentation agents (in such capacity, each a “Co-Documentation
Agent”), and X.X. Xxxxxx Securities Inc. and Deutsche Bank Securities Inc., as joint lead
arrangers and joint bookrunners.
W
I T N E S S E T H:
WHEREAS, pursuant to the Credit Agreement, the Lenders have agreed to make, and have made,
certain loans and other extensions of credit to the Borrowers;
WHEREAS, the Borrowers have requested that certain provisions of the Credit Agreement be
amended as set forth herein; and
WHEREAS, the Lenders are willing to agree to such amendment on the terms set forth herein;
NOW THEREFORE, in consideration of the premises and mutual covenants contained herein, the
undersigned hereby agree as follows:
I. Defined Terms. Terms defined in the Credit Agreement and used herein shall have
the meanings given to them in the Credit Agreement.
II. Amendments to Section 2.1.
(a) Section 2.1(a) is hereby amended by adding thereto, at the end thereof, two new
sentences reading in their entirety as follows:
“Such apportionment of the Delayed-Draw Term Loans may be changed at any
time, and from time to time, by the Borrower by its giving notice of such
change to the Administrative Agent, which shall promptly notify the
Delayed-Draw Term Lenders thereof. It is understood and agreed that nothing
in the definition of “Borrower Delayed-Draw Term Loan Commitments” or
“Permitted Borrower Delayed-Draw Term Loan Commitments” shall be construed
to prohibit the apportionment of the Delayed-Draw Term Loans in accordance
with the previous sentence.”
(b) Section 2.1(b) is hereby amended by adding thereto, at the end thereof, a new
sentence reading in its entirety as follows:
“The apportionment of any Incremental Term Loans between the Borrower and
the Permitted Borrower may be changed at any time, and from time to time, by
the Borrower by its giving notice of such change to the Administrative
Agent, which shall promptly notify the Incremental Term Lenders.”
III. Amendment to Section 2.3(a). Section 2.3(a) is hereby amended by adding thereto,
at the end thereof, two new sentences reading in their entirety as follows:
“Any partial payment of principal will be allocated by the Borrower between
the Delayed-Draw Term Loans made to the Borrower and the Delayed-Draw Term
Loans made to the Permitted Borrower as directed by the Borrower in a notice
to the Administrative Agent prior to any such payment, or in the absence of
any such notice ratably between them. The Administrative Agent shall
promptly notify each Delayed-Draw Term Lender of such direction.”
IV. Amendment to Section 2.3(b). Section 2.3(b) is hereby amended by adding thereto,
at the end thereof, two new sentences reading in their entirety as follows:
“Any partial payment of principal will be allocated by the Borrower between
the Incremental Term Loans made to the Borrower and the Incremental Term
Loans made to the Permitted Borrower as directed by the Borrower in a notice
to the Administrative Agent prior to any such payment, or in the absence of
any such notice ratably between them. The Administrative Agent shall
promptly notify each Incremental Term Lender of such direction.”
V. Amendment to Section 2.8. Section 2.8 is hereby amended by deleting the phrase
“Delayed-Draw” each time it appears in the last sentence thereof.
VI. Amendment to Section 10.6(a). Section 10.6(a) is hereby amended by adding
immediately following “(i)” the words “other than as provided in the last two sentences of Section
2.1(a) and in the last sentence of Section 2.1(b).”
VII. Effective Date. This Amendment shall become effective as of and with effect from
the date hereof, on the date on which the Borrower, the Permitted Borrower and each of the Lenders
under the Credit Agreement shall have duly executed and delivered to the Administrative Agent this
Amendment.
VIII. Representations and Warranties. The Borrowers hereby represent and warrants
that after giving effect to this Amendment, no Default or Event of Default shall have occurred and
be continuing.
IX. No Other Amendments; Confirmation. Except as expressly amended hereby, the
provisions of the Credit Agreement, as amended and restated, are and shall remain in full force and
effect.
X. Governing Law. This Amendment and the rights and obligations of the parties hereto
shall be governed by, and construed and interpreted in accordance with, the laws of the State of
New York.
XI. Counterparts. This Amendment may be executed by one or more of the parties hereto
on any number of separate counterparts, and all of said counterparts taken together shall be deemed
to constitute one and the same instrument. This Amendment may be delivered by facsimile
transmission of the relevant signature pages hereof.
IN WITNESS WHEREOF, the undersigned have caused this Amendment to be executed and delivered by
their duly authorized officers as of the date first above written.
LIN TELEVISION CORPORATION |
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By: | /s/ Xxxxxxx X. Xxxxxxx | |||
Name: | Xxxxxxx X. Xxxxxxx | |||
Title: | CFO & Treasurer | |||
TELEVICENTRO OF PUERTO RICO LLC By: LIN TELEVISION OF SAN XXXX, INC., its managing member |
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By: | /s/ Xxxxxxx X. Xxxxxxx | |||
Name: | Xxxxxxx X. Xxxxxxx | |||
Title: | Vice President CFO & Treasurer |
JPMORGAN CHASE BANK, N.A., individually and as Administrative Agent, Swingline Lender and Issuing Lender |
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By: | /s/ Xxxxxx Xxxxx Xxxxx | |||
Name: | Xxxxxx Xxxxx Xxxxx | |||
Title: | Vice President | |||
DEUTSCHE BANK TRUST COMPANY AMERICAS,
individually and as Syndication Agent and an Issuing Lender |
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By: | /s/ Xxxxx XxXxxxx | |||
Name: | Xxxxx XxXxxxx | |||
Title: | Director | |||
By: | /s/ Xxxxxx Xxxxxxxx | |||
Name: | Xxxxxx Xxxxxxxx | |||
Title: | Vice President |
XXXXXXX SACHS CREDIT PARTNERS L.P., individually and as Documentation Agent |
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By: | /s/ Xxxxx X. Xxxxxxxxxx | |||
Name: | Xxxxx X. Xxxxxxxxxx | |||
Title: | Authorized Signatory |
BANK OF AMERICA, N.A., individually and as Documentation Agent |
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By: | /s/ Xxx Peoen | |||
Name: | Xxx Peoen | |||
Title: | Vice President |
WACHOVIA BANK, NATIONAL ASSOCIATION,
individually and as Documentation Agent |
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By: | /s/ Xxxxxxx X. Xxxxx | |||
Name: | Xxxxxxx X. Xxxxx | |||
Title: | Director | |||
THE BANK OF NOVA SCOTIA, individually and as Co-Documentation Agent |
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By: | /s/ Xxxxxx X. Xxxxxx | |||
Name: | Xxxxxx X. Xxxxxx | |||
Title: | Authorized Signatory | |||
SUNTRUST BANK, individually and as
Co-Documentation Agent |
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By: | /s/ Xxxxxxx Xxxxxx | |||
Name: | Xxxxxxx Xxxxxx | |||
Title: | Managing Director | |||
SCOTIABANC INC., as Lender |
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By: | /s/ Xxxxxxx Xxxxxxx | |||
Name: | Xxxxxxx Xxxxxxx | |||
Title: | Director | |||
THE ROYAL BANK OF SCOTLAND plc, as Lender |
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By: | /s/ Xxxxxxx Xxxxxxxxxx | |||
Name: | Xxxxxxx Xxxxxxxxxx | |||
Title: | Managing Director | |||
BNP PARIBAS, as Lender |
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By: | /s/ Xxx Xxxxxxxxx | |||
Name: | Xxx Xxxxxxxxx | |||
Title: | Director | |||
By: | /s/ Xxxxx Xxxxxxx | |||
Name: | Xxxxx Xxxxxxx | |||
Title: | Director Media & Telecom Finance |
CITIBANK, N.A., as Lender |
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By: | /s/ J. Judge | |||
Name: | J. Judge | |||
Title: | Vice President |
SUMITOMO MITSUI BANKING CORPORATION, as Lender |
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By: | /s/ Xxxxxxx Xxxxx | |||
Name: | Xxxxxxx Xxxxx | |||
Title: | Joint General Manager | |||
U.S. BANCORP, as Lender |
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By: | /s/ Xxxx XxXxxxxxx | |||
Name: | Xxxx XxXxxxxxx | |||
Title: | Vice President |
GENERAL ELECTRIC CAPITAL CORPORATION, as Lender |
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By: | /s/ Xxxxxx Xxxxxx | |||
Name: | Xxxxxx Xxxxxx | |||
Title: | Duly Authorized Signatory | |||
BAYERISCHE LANDESBANK, NEW YORK BRANCH, as Lender |
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By: | /s/ Xxxxxx XxXxxxx | |||
Name: | Xxxxxx XxXxxxx | |||
Title: | First Vice President | |||
By: | /s/ Xxxxxx Xxxxxxxx | |||
Name: | Xxxxxx Xxxxxxxx | |||
Title: | Senior Vice President | |||
THE BANK OF NEW YORK, as Lender |
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By: | /s/ Xxxxxx X. Xxxxxxx | |||
Name: | Xxxxxx X. Xxxxxxx | |||
Title: | Vice President | |||
CREDIT SUISSE FIRST BOSTON, CAYMAN
ISLANDS BRANCH, as Lender |
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By: | /s/ Xxxxxx Xxxx | |||
Name: | Xxxxxx Xxxx | |||
Title: | Vice President | |||
By: | Xxxxxxx Xx | |||
Name: | Xxxxxxx Xx | |||
Title: | Directory |
BANK OF SCOTLAND, as Lender |
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By: | /s/ Xxxxx Xxxxx | |||
Name: | Xxxxx Xxxxx | |||
Title: | Assistant Vice President | |||
MIZUHO CORPORATE BANK, LTD., as Lender |
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By: | /s/ Xxxxx Xxxxx | |||
Name: | Xxxxx Xxxxx | |||
Title: | Deputy General Manager | |||
ALLIED IRISH BANKS, P.L.C., as Lender |
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By: | /s/ Xxxxxx X’Xxxxxxx | |||
Name: | Xxxxxx X’Xxxxxxx | |||
Title: | Vice President | |||
By: | /s/ Xxxxxxx X. Xxxxx | |||
Name: | Xxxxxxx X. Xxxxx | |||
Title: | Vice President |
AIB DEBT MANAGEMENT LIMITED, as
Lender |
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By: | /s/ Roisi X’Xxxxxxx | |||
Name: | Roisi X’Xxxxxxx | |||
Title: | Vice President Investment Advisor to AIB Debt Management Limited |
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By: | /s/ Xxxxxxx X. Xxxxx | |||
Name: | Xxxxxxx X. Xxxxx | |||
Title: | Vice President Investment Advisor to AIB Debt Management Limited |
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BANK OF COMMUNICATIONS, as Lender |
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By: | /s/ Xxxxxxx He | |||
Name: | Xxxxxxx He | |||
Title: | Deputy General Manager | |||
The Guarantors hereby consent and agree to this Amendment as of the date hereof and reaffirm their
obligations under the Guarantee and Collateral Agreement, the Guarantee and the other Loan
Documents to which they are party.
LIN TV CORP. |
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By: | /s/ Xxxxxxx X. Xxxxxxx | |||
Name: | Xxxxxxx X. Xxxxxxx | |||
Title: | CFO & Treasurer | |||
AIRWAVES, INC. KXAN, INC. KXTX HOLDINGS, INC. LINBENCO, INC. LIN SPORTS, INC. LIN TELEVISION OF SAN XXXX, INC. XXX TELEVISION OF TEXAS, INC. NORTH TEXAS BROADCASTING CORP. PRIMELAND TELEVISION, INC. TVL BROADCASTING, INC. WAPA AMERICA, INC. WOOD TELEVISION, INC. WNJX-TV INC. WTNH BROADCASTING, INC. |
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By: | /s/ Xxxxxxx X. Xxxxxxx | |||
Name: | Xxxxxxx X. Xxxxxxx | |||
Title: | CFO & Treasurer | |||
INDIANA BROADCASTING, LLC LIN AIRTIME, LLC LIN OF ALABAMA, LLC LIN OF COLORADO, LLC LIN OF NEW MEXICO, LLC LIN OF WISCONSIN, LLC PROVIDENCE BROADCASTING, LLC WAVY BROADCASTING, LLC WIVB BROADCASTING, LLC WOOD LICENSE CO., LLC WWLP BROADCASTING, LLC |
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By: | LIN TELEVISION CORPORATION, their managing member | |||
By: | /s/ Xxxxxxx X. Xxxxxxx | |||
Name: | Xxxxxxx X. Xxxxxxx | |||
Title: | CFO & Treasurer |
TVL BROADCASTING OF RHODE ISLAND, LLC WDTN BROADCASTING, LLC WUPW BROADCASTING, LLC WWHO BROADCASTING, LLC |
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By: | TVL BROADCASTING, INC., their managing member | |||
By: | /s/ Xxxxxxx X. Xxxxxxxx | |||
Name: | Xxxxxxx X. Xxxxxxxx | |||
Title: | Vice President CFO & Treasurer |
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TELEVICENTRO OF PUERTO RICO, LLC |
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By: | LIN TELEVISION OF SAN XXXX, its managing member | |||
By: | /s/ Xxxxxxx X. Xxxxxxxx | |||
Name: | Xxxxxxx X. Xxxxxxxx | |||
Title: | Vice President CFO & Treasurer |
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LIN TELEVISION OF TEXAS, L.P. |
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By: | LIN TELEVISION OF TEXAS, INC., its general partner | |||
By: | /s/ Xxxxxxx X. Xxxxxxxx | |||
Name: | Xxxxxxx X. Xxxxxxxx | |||
Title: | Vice President CFO & Treasurer |