SECURITIES EXCHANGE AGREEMENTSecurities Exchange Agreement • November 16th, 2022 • Globalstar, Inc. • Communications services, nec • Delaware
This SECURITIES EXCHANGE AGREEMENT (this “Agreement”), dated as of November 15, 2022 (the “Effective Date”), is by and between Globalstar, Inc. (the “Company”), and the lenders listed on Schedule I hereto (each, an “Exchange Lender” and collectively, the “Exchange Lenders”). Reference is made to the Second Lien Facility Agreement (as amended, restated, supplemented or otherwise modified from time to time, the “Facility Agreement”), dated November 26, 2019, between the Company, as Borrower, Global Loan Agency Services Limited, as the Agent (the “Agent”), GLAS Trust Corporation Limited, as the Security Agent, and the parties listed on Schedule 1 thereto as the Original Lenders. The Company, the Agent, and the Exchange Lenders are each referred to herein individually as a “Party” and collectively, the “Parties.” Capitalized terms used but not defined herein shall have the meanings ascribed to them in the Facility Agreement.
