AMENDED AND RESTATED SUBSIDIARIES GUARANTY
Exhibit 4.4
EXECUTION COPY
AMENDED AND RESTATED SUBSIDIARIES GUARANTY
THIS AMENDED AND RESTATED SUBSIDIARIES GUARANTY, dated as of February 14, 2006 (as amended,
modified or supplemented from time to time, this “Guaranty”), is made by each of the
undersigned guarantors (each a “Guarantor,” and together with any other entity that becomes
a guarantor hereunder pursuant to Section 26 hereof, the “Guarantors”). Except as otherwise
defined herein, capitalized terms used herein and defined in the Credit Agreement (as defined
below) shall be used herein as therein defined.
WHEREAS, infoUSA Inc., a Delaware corporation (the “Borrower”), certain financial
institutions from time to time party thereto in the capacity of a lender (in such capacity, the
“Lenders”), and Xxxxx Fargo Bank, National Association (“Xxxxx Fargo”), as
administrative agent, have entered into an Amended and Restated Credit Agreement, dated as of June
4, 2005 (the “Old Credit Agreement”) which amended and restated that certain Credit
Agreement dated as of March 25, 2004 among the Borrower, Xxxxx Fargo as administrative agent and
certain financial institutions;
WHEREAS, as a condition to the making of Loans to, and the issuance of Letters of Credit for
the account of, the Borrower under the Old Credit Agreement, the Guarantors executed a Guaranty
dated as of March 25, 2004, as amended by a Reaffirmation of and First Amendment to Subsidiaries
Guaranty, Security Agreement and Pledge Agreement dated as of June 4, 2004;
WHEREAS, in connection with the Borrower’s request to restructure the Loans made under the Old
Credit Agreement, the Borrower, Xxxxx Fargo and certain other parties thereto have agreed to amend
and restate the Old Credit Agreement in the form of a Second Amended and Restated Credit Agreement
(as amended, modified, supplemented or restated from time to time, the “Credit Agreement”)
dated as of February 14, 2006, by and among the Borrower, the financial institutions from time to
time party thereto in the capacity of a lender (in such capacity, the “Lenders”), LaSalle
Bank National Association and Citibank F.S.B., as syndication agents (in such capacity, the
“Syndication Agents”), Bank of America, N.A., as documentation agent (in such capacity, the
“Documentation Agent”), and Xxxxx Fargo as administrative agent (in such capacity, the
“Administrative Agent”), providing for the making of Loans to, and the issuance of Letters
of Credit for the account of, the Borrower as contemplated therein (the Lenders, the collateral
agent, the Issuing Lender, the Syndication Agents, the Documentation Agent, and the Administrative
Agent are herein called the “Lender Creditors”);
WHEREAS, as a condition precedent to the making of Loans to, and the issuance of Letters of
Credit for the account of, the Borrower under the Credit Agreement the Guarantors must execute and
deliver to the Administrative Agent this Guaranty;
WHEREAS, the Borrower may at any time and from time to time enter into one or more Interest
Rate Protection Agreements or Other Hedging Agreements with one or more Lenders or any affiliate
thereof (each such Lender or affiliate, even if the respective Lender subsequently ceases to be a
Lender under the Credit Agreement for any reason, together with
such Lender’s or affiliate’s successors and assigns, if any, collectively, the “Other
Creditors,” and together with the Lender Creditors, the “Secured Creditors”);
WHEREAS, each Guarantor is a direct or indirect Subsidiary of the Borrower;
WHEREAS, it is a condition to the making of Loans to, and the issuance of Letters of Credit
for the account of, the Borrower under the Credit Agreement that each Guarantor shall have executed
and delivered this Guaranty; and
WHEREAS, each Guarantor will obtain benefits from the incurrence of Loans to, and the issuance
of Letters of Credit for the account of, the Borrower under the Credit Agreement and the entering
into by the Borrower of Interest Rate Protection Agreements or Other Hedging Agreements and,
accordingly, desires to execute this Guaranty in order to satisfy the conditions described in the
preceding paragraph.
NOW, THEREFORE, in consideration of the foregoing and other benefits accruing to each
Guarantor, the receipt and sufficiency of which are hereby acknowledged, each Guarantor hereby
makes the following representations and warranties to the Secured Creditors and hereby covenants
and agrees with each Secured Creditor as follows:
1. Each Guarantor, jointly and severally, irrevocably, absolutely and unconditionally
guarantees: (i) to the Lender Creditors the full and prompt payment when due (whether at the
stated maturity, by acceleration or otherwise) of (x) the principal of, premium, if any, and
interest on the Notes issued by, and the Loans made to, the Borrower under the Credit Agreement,
and all reimbursement obligations and Unpaid Drawings with respect to Letters of Credit issued
under the Credit Agreement and (y) all other obligations (including obligations which, but for the
automatic stay under Section 362(a) of the Bankruptcy Code, would become due), liabilities and
indebtedness owing by the Borrower to the Lender Creditors under the Credit Agreement and any other
Credit Document to which the Borrower is a party (including, without limitation, indemnities, Fees
and interest thereon), whether now existing or hereafter incurred under, arising out of or in
connection with the Credit Agreement and any such other Credit Document and the due performance and
compliance by the Borrower with all of the terms, conditions and agreements contained in all such
Credit Documents (all such principal, premium, interest, liabilities, indebtedness and obligations
being herein collectively called the “Credit Document Obligations”); and (ii) to each Other
Creditor the full and prompt payment when due (whether at the stated maturity, by acceleration or
otherwise) of all obligations (including obligations which, but for the automatic stay under
Section 362(a) of the Bankruptcy Code, would become due), liabilities and indebtedness owing by the
Borrower under any Interest Rate Protection Agreement and Other Hedging Agreement, whether now in
existence or hereafter arising, and the due performance and compliance by the Borrower with all of
the terms, conditions and agreements contained in the Interest Rate Protection Agreements and Other
Hedging Agreements (all such obligations, liabilities and indebtedness being herein collectively
called the “Other Obligations,” and together with the Credit Document Obligations, the
“Guaranteed Obligations”). Each Guarantor understands, agrees and confirms that the Secured
Creditors may enforce this Guaranty up to the full amount of the Guaranteed Obligations against
such Guarantor without proceeding against any other Guarantor, the Borrower, against any
security for the Guaranteed Obligations, or under any other guaranty covering all or a portion
of the Guaranteed Obligations.
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2. Additionally, each Guarantor, jointly and severally, unconditionally, absolutely and
irrevocably, guarantees the payment of any and all Guaranteed Obligations whether or not due or
payable by the Borrower upon the occurrence in respect of the Borrower of any of the events
specified in Section 11.1(e) of the Credit Agreement, and unconditionally and irrevocably, jointly
and severally, promises to pay such Guaranteed Obligations to the Secured Creditors, or order, on
demand, in legal tender of the United States. This Guaranty shall constitute a guaranty of payment,
and not of collection.
3. The liability of each Guarantor hereunder is primary, absolute and unconditional and is
exclusive and independent of any security for or other guaranty of the indebtedness of the Borrower
whether executed by such Guarantor, any other Guarantor, any other guarantor or by any other party,
and the liability of each Guarantor hereunder shall not be affected or impaired by any circumstance
or occurrence whatsoever, including, without limitation: (a) any direction as to application of
payment by the Borrower or by any other party, (b) any other continuing or other guaranty,
undertaking or maximum liability of a guarantor or of any other party as to the Guaranteed
Obligations, (c) any payment on or in reduction of any such other guaranty or undertaking, (d) any
dissolution, termination or increase, decrease or change in personnel by the Borrower, (e) any
payment made to any Secured Creditor on the indebtedness which any Secured Creditor repays the
Borrower pursuant to court order in any bankruptcy, reorganization, arrangement, moratorium or
other debtor relief proceeding, and each Guarantor waives any right to the deferral or modification
of its obligations hereunder by reason of any such proceeding, (f) any action or inaction by the
Secured Creditors as contemplated in Section 6 hereof or (g) any invalidity, irregularity or
unenforceability of all or any part of the Guaranteed Obligations or of any security therefor.
4. The obligations of each Guarantor hereunder are independent of the obligations of any other
Guarantor, any other guarantor or the Borrower, and a separate action or actions may be brought and
prosecuted against each Guarantor whether or not action is brought against any other Guarantor, any
other guarantor or the Borrower and whether or not any other Guarantor, any other guarantor or the
Borrower be joined in any such action or actions. Each Guarantor waives, to the fullest extent
permitted by law, the benefits of any statute of limitations affecting its liability hereunder or
the enforcement thereof. Any payment by the Borrower or other circumstance which operates to toll
any statute of limitations as to the Borrower shall operate to toll the statute of limitations as
to each Guarantor.
5. Each Guarantor hereby waives notice of acceptance of this Guaranty and notice of any
liability to which it may apply, and waives promptness, diligence, presentment, demand of payment,
protest, notice of dishonor or nonpayment of any such liabilities, suit or taking of other action
by the Administrative Agent or any other Secured Creditor against, and any other notice to, any
party liable thereon (including such Guarantor, any other Guarantor, any other guarantor or the
Borrower)
6. Any Secured Creditor may at any time and from time to time without the consent of, or
notice to, any Guarantor, without incurring responsibility to such Guarantor,
without impairing or releasing the obligations of such Guarantor hereunder, upon or without
any terms or conditions and in whole or in part:
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(a) change the manner, place or terms of payment of, and/or change, increase or extend
the time of payment of, renew or alter, any of the Guaranteed Obligations (including any
increase or decrease in the rate of interest thereon), any security therefor, or any
liability incurred directly or indirectly in respect thereof, and the guaranty herein made
shall apply to the Guaranteed Obligations as so changed, extended, renewed or altered;
(b) take and hold security for the payment of the Guaranteed Obligations and sell,
exchange, release, surrender, impair, realize upon or otherwise deal with in any manner and
in any order any property by whomsoever at any time pledged or mortgaged to secure, or
howsoever securing, the Guaranteed Obligations or any liabilities (including any of those
hereunder) incurred directly or indirectly in respect thereof or hereof, and/or any offset
thereagainst;
(c) exercise or refrain from exercising any rights against the Borrower, any other
Credit Party, any Subsidiary thereof or otherwise act or refrain from acting;
(d) release or substitute any one or more endorsers, Guarantors, other guarantors, the
Borrower or other obligors;
(e) settle or compromise any of the Guaranteed Obligations, any security therefor or
any liability (including any of those hereunder) incurred directly or indirectly in respect
thereof or hereof, and may subordinate the payment of all or any part thereof to the payment
of any liability (whether due or not) of the Borrower to creditors of the Borrower other
than the Secured Creditors;
(f) apply any sums by whomsoever paid or howsoever realized to any liability or
liabilities of the Borrower to the Secured Creditors regardless of what liabilities of the
Borrower remain unpaid;
(g) consent to or waive any breach of, or any act, omission or default under, any of
the Interest Rate Protection Agreements or Other Hedging Agreements, the Credit Documents or
any of the instruments or agreements referred to therein, or otherwise amend, modify or
supplement any of the Interest Rate Protection Agreements or Other Hedging Agreements, the
Credit Documents or any of such other instruments or agreements;
(h) act or fail to act in any manner referred to in this Guaranty which may deprive
such Guarantor of its right to subrogation against the Borrower to recover full indemnity
for any payments made pursuant to this Guaranty; and/or
(i) take any other action which would, under otherwise applicable principles of common
law, give rise to a legal or equitable discharge of such Guarantor from its liabilities
under this Guaranty.
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7. This Guaranty is a continuing one and all liabilities to which it applies or may apply
under the terms hereof shall be conclusively presumed to have been created in reliance hereon. No
failure or delay on the part of any Secured Creditor in exercising any right, power or privilege
hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any right,
power or privilege hereunder preclude any other or further exercise thereof or the exercise of any
other right, power or privilege. The rights and remedies herein expressly specified are cumulative
and not exclusive of any rights or remedies which any Secured Creditor would otherwise have. No
notice to or demand on any Guarantor in any case shall entitle such Guarantor to any other further
notice or demand in similar or other circumstances or constitute a waiver of the rights of any
Secured Creditor to any other or further action in any circumstances without notice or demand. It
is not necessary for any Secured Creditor to inquire into the capacity or powers of the Borrower or
the officers, directors, partners or agents acting or purporting to act on its behalf, and any
indebtedness made or created in reliance upon the professed exercise of such powers shall be
guaranteed hereunder.
8. Any indebtedness of the Borrower now or hereafter held by any Guarantor is hereby
subordinated to the indebtedness of the Borrower to the Secured Creditors, and such indebtedness of
the Borrower to any Guarantor, if the Administrative Agent or the Collateral Agent, after the
occurrence and during the continuance of an Event of Default, so requests, shall be collected,
enforced and received by such Guarantor as trustee for the Secured Creditors and be paid over to
the Secured Creditors on account of the indebtedness of the Borrower to the Secured Creditors, but
without affecting or impairing in any manner the liability of such Guarantor under the other
provisions of this Guaranty. Without limiting the generality of the foregoing, each Guarantor
hereby agrees with the Secured Creditors that it will not exercise any right of subrogation which
it may at any time otherwise have as a result of this Guaranty (whether contractual, under Section
509 of the Bankruptcy Code or otherwise) until all Guaranteed Obligations have been irrevocably
paid in full in cash.
9. (a) Each Guarantor waives any right (except as shall be required by applicable law
and cannot be waived) to require the Secured Creditors to: (i) proceed against the Borrower,
any other Guarantor, any other guarantor of the Guaranteed Obligations or any other party;
(ii) proceed against or exhaust any security held from the Borrower, any other Guarantor,
any other guarantor of the Guaranteed Obligations or any other party; or (iii) pursue any
other remedy in the Secured Creditors’ power whatsoever. Each Guarantor waives any defense
based on or arising out of any defense of the Borrower, any other Guarantor, any other
guarantor of the Guaranteed Obligations or any other party other than payment in full of the
Guaranteed Obligations, including, without limitation, any defense based on or arising out
of the disability of the Borrower, any other Guarantor, any other guarantor of the
Guaranteed Obligations or any other party, or the unenforceability of the Guaranteed
Obligations or any part thereof from any cause, or the cessation from any cause of the
liability of the Borrower other than payment in full of the Guaranteed Obligations. The
Secured Creditors may, at their election, foreclose on any security held by the
Administrative Agent, the Collateral Agent or the other Secured Creditors by one or more
judicial or nonjudicial sales, whether or not every aspect of any such sale is commercially
reasonable, or exercise any other right or remedy the Secured Creditors may have against the
Borrower or any other party, or any security, without affecting or impairing in any way the
liability of any Guarantor hereunder except to the
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extent the Guaranteed Obligations have been paid in full in cash. Each Guarantor waives
any defense arising out of any such election by the Secured Creditors, even though such
election operates to impair or extinguish any right of reimbursement or subrogation or other
right or remedy of such Guarantor against the Borrower or any other party or any security.
(b) Each Guarantor waives all presentments, demands for performance, protests and
notices, including, without limitation, notices of nonperformance, notices of protest,
notices of dishonor, notices of acceptance of this Guaranty, and notices of the existence,
creation or incurring of new or additional indebtedness. Each Guarantor assumes all
responsibility for being and keeping itself informed of the Borrower’s financial condition
and assets, and of all other circumstances bearing upon the risk of nonpayment of the
Guaranteed Obligations and the nature, scope and extent of the risks which such Guarantor
assumes and incurs hereunder, and agrees that the Secured Creditors shall have no duty to
advise any Guarantor of information known to them regarding such circumstances or risks.
10. The Secured Creditors agree that this Guaranty may be enforced only by the action of the
Administrative Agent or the Collateral Agent, in each case acting upon the instructions of the
Required Lenders (or, after the date on which all Credit Document Obligations have been paid in
full, the holders of at least the majority of the outstanding Other Obligations) and that no other
Secured Creditors shall have any right individually to seek to enforce or to enforce this Guaranty
or to realize upon the security to be granted by the Security Documents, it being understood and
agreed that such rights and remedies may be exercised by the Administrative Agent or the Collateral
Agent or, after all the Credit Document Obligations have been paid in full, by the holders of at
least a majority of the outstanding Other Obligations, as the case may be, for the benefit of the
Secured Creditors upon the terms of this Guaranty and the Security Documents. The Secured Creditors
further agree that this Guaranty may not be enforced against any director, officer, employee,
partner, member or stockholder of any Guarantor (except to the extent such partner, member or
stockholder is also a Guarantor hereunder).
11. In order to induce the Lenders to make Loans to, and issue Letters of Credit for the
account of, the Borrower pursuant to the Credit Agreement, and in order to induce the Other
Creditors to execute, deliver and perform the Interest Rate Protection Agreements and Other Hedging
Agreements, each Guarantor represents, warrants and covenants that:
(a) Such Guarantor (i) is a duly organized and validly existing corporation,
partnership or limited liability company, as the case may be, in good standing under the
laws of the jurisdiction of its organization, (ii) has the corporate, partnership or limited
liability company, power and authority, as the case may be, to own its property and assets
and to transact the business in which it is engaged and presently proposes to engage and
(iii) is duly qualified and is authorized to do business and is in good standing in each
jurisdiction where the conduct of its business requires such qualification except for
failures to be so qualified which, individually or in the aggregate, could not reasonably be
expected to have a Material Adverse Effect.
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(b) Such Guarantor has the corporate, partnership or limited liability company, power
and authority, as the case may be, to execute, deliver and perform the terms and provisions
of this Guaranty and each other Credit Document to which it is a party and has taken all
necessary corporate, partnership or limited liability company, action, as the case may be,
to authorize the execution, delivery and performance by it of this Guaranty and each such
other Credit Document. Such Guarantor has duly executed and delivered this Guaranty and each
other Credit Document to which it is a party, and this Guaranty and each such other Credit
Document constitutes the legal, valid and binding obligation of such Guarantor enforceable
in accordance with its terms, except to the extent that the enforceability hereof or thereof
may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other
similar laws generally affecting creditors’ rights and by equitable principles (regardless
of whether enforcement is sought in equity or at law).
(c) Neither the execution, delivery or performance by such Guarantor of this Guaranty
or any other Credit Document to which it is a party, nor compliance by it with the terms and
provisions hereof and thereof, will (i) contravene any provision of any applicable law,
statute, rule or regulation or any applicable order, writ, injunction or decree of any court
or governmental instrumentality, (ii) conflict with or result in any breach of any of the
terms, covenants, conditions or provisions of, or constitute a default under, or result in
the creation or imposition of (or the obligation to create or impose) any Lien (except
pursuant to the Security Documents) upon any of the property or assets of such Guarantor or
any of its Subsidiaries pursuant to the terms of any indenture, mortgage, deed of trust,
loan agreement, credit agreement, or any other material agreement, contract or instrument to
which such Guarantor or any of its Subsidiaries is a party or by which it or any of its
property or assets is bound or to which it may be subject or (iii) violate any provision of
the certificate of incorporation or by-laws (or equivalent organizational documents) of such
Guarantor or any of its Subsidiaries.
(d) No order, consent, approval, license, authorization or validation of, or filing,
recording or registration with (except as have been obtained or made) or exemption by, any
governmental or public body or authority, or any subdivision thereof, is required to
authorize, or is required for, (i) the execution, delivery and performance of this Guaranty
by such Guarantor or any other Credit Document to which such Guarantor is a party or (ii)
the legality, validity, binding effect or enforceability of this Guaranty or any other
Credit Document to which such Guarantor is a party.
(e) There are no actions, suits or proceedings pending or, to such Guarantor’s
knowledge, threatened (i) with respect to this Guaranty or any other Credit Document to
which such Guarantor is a party or (ii) with respect to such Guarantor or any of its
Subsidiaries that, either individually or in the aggregate, could reasonably be expected to
have a Material Adverse Effect.
12. Each Guarantor covenants and agrees that on and after the Effective Date and until the
termination of the Total Commitment and all Interest Rate Protection Agreements and Other Hedging
Agreements and until such time as no Note or Letter of Credit remains outstanding and all
Guaranteed Obligations have been paid in full, such Guarantor will comply,
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and will cause each of its Subsidiaries to comply, with all of the applicable provisions,
covenants and agreements contained in Articles 9 and 10 of the Credit Agreement, and will take, or
will refrain from taking, as the case may be, all actions that are necessary to be taken or not
taken so that it is not in violation of any provision, covenant or agreement contained in Articles
9 or 10 of the Credit Agreement, and so that no Default or Event of Default, is caused by the
actions of such Guarantor or any of its Subsidiaries.
13. The Guarantors hereby jointly and severally agree to pay all reasonable out-of-pocket
costs and expenses of each Secured Creditor in connection with the enforcement of this Guaranty and
of the Administrative Agent in connection with any amendment, waiver or consent relating hereto
(including in each case, without limitation, the reasonable fees and disbursements of counsel
employed by each Secured Creditor).
14. This Guaranty shall be binding upon each Guarantor and its successors and assigns and
shall inure to the benefit of the Secured Creditors and their successors and assigns.
15. Neither this Guaranty nor any provision hereof may be changed, waived, discharged or
terminated except with the written consent of each Guarantor directly affected thereby and with the
written consent of either (x) the Required Lenders (or to the extent required by Section 13.12 of
the Credit Agreement, with the written consent of each Lender) at all times prior to the time on
which all Credit Document Obligations have been paid in full or (y) the holders of at least a
majority of the outstanding Other Obligations at all times after the time on which all Credit
Document Obligations have been paid in full; provided, that any change, waiver, modification or
variance affecting the rights and benefits of a single Class (as defined below) of Secured
Creditors (and not all Secured Creditors in a like or similar manner) shall also require the
written consent of the Requisite Creditors (as defined below) of such Class of Secured Creditors
(it being understood that the addition or release of any Guarantor hereunder shall not constitute a
change, waiver, discharge or termination affecting any Guarantor other than the Guarantor so added
or released). For the purpose of this Guaranty, the term “Class” shall mean each class of
Secured Creditors, i.e., whether (x) the Lender Creditors as holders of the Credit Document
Obligations or (y) the Other Creditors as the holders of the Other Obligations. For the purpose of
this Guaranty, the term “Requisite Creditors” of any Class shall mean (x) with respect to
the Credit Document Obligations, the Required Lender (or to the extent required by Section 13.12 of
the Credit Agreement, each Lender) and (y) with respect to the Other Obligations, the holders of at
least a majority of all obligations outstanding from time to time under the Interest Rate
Protection or Other Hedging Agreements.
16. Each Guarantor acknowledges that an executed (or conformed) copy of each of the Credit
Documents and Interest Rate Protection Agreements or Other Hedging Agreements has been made
available to a senior officer of such Guarantor and such officer is familiar with the contents
thereof.
17. In addition to any rights now or hereafter granted under applicable law and not by way of
limitation of any such rights, upon the occurrence and during the continuance of an Event of
Default (such term to mean and include any “Event of Default” as defined in the Credit Agreement or
any payment default under any Interest Rate Protection Agreement or Other
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Hedging Agreement continuing after any applicable grace period), each Secured Creditor is
hereby authorized, at any time or from time to time, without notice to any Guarantor or to any
other Person, any such notice being expressly waived, to set off and to appropriate and apply any
and all deposits (general or special) and any other indebtedness at any time held or owing by such
Secured Creditor to or for the credit or the account of such Guarantor, against and on account of
the obligations and liabilities of such Guarantor to such Secured Creditor under this Guaranty,
irrespective of whether or not such Secured Creditor shall have made any demand hereunder and
although said obligations, liabilities, deposits or claims, or any of them, shall be contingent or
un-matured.
18. All notices, requests, demands or other communications pursuant hereto shall be sent or
delivered by mail, telegraph, telex, telecopy, cable or overnight courier service and all such
notices and communications shall, when mailed, telegraphed, telexed, telecopied, or cabled or sent
by overnight courier, be effective when deposited in the mails, delivered to the telegraph company,
cable company or overnight courier, as the case may be, or sent by telex or telecopier and when
mailed shall be effective three Business Days following deposit in the mail with proper postage,
except that notices and communications to the Administrative Agent or any Guarantor shall not be
effective until received by the Administrative Agent or such Guarantor, as the case may be. All
notices and other communications shall be in writing and addressed to such party at (i) in the case
of any Lender Creditor, as provided in the Credit Agreement, (ii) in the case of any Guarantor, as
provided in the Security Agreement and (iii) in the case of any Other Creditor, at such address as
such Other Creditor shall have specified in writing to the Guarantors; or in any case at such other
address as any of the Persons listed above may hereafter notify the others in writing.
19. If claim is ever made upon any Secured Creditor for repayment or recovery of any amount or
amounts received in payment or on account of any of the Guaranteed Obligations and any of the
aforesaid payees repays all or part of said amount by reason of (i) any judgment, decree or order
of any court or administrative body having jurisdiction over such payee or any of its property or
(ii) any settlement or compromise of any such claim effected by such payee with any such claimant
(including the Borrower) then and in such event each Guarantor agrees that any such judgment,
decree, order, settlement or compromise shall be binding upon such Guarantor, notwithstanding any
revocation hereof or other instrument evidencing any liability of the Borrower, and such Guarantor
shall be and remain liable to the aforesaid payees hereunder for the amount so repaid or recovered
to the same extent as if such amount had never originally been received by any such payee.
20. (a) THIS GUARANTY AND THE RIGHTS AND OBLIGATIONS OF THE SECURED CREDITORS AND OF
THE UNDERSIGNED HEREUNDER SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAW OF
THE STATE OF MINNESOTA. Any legal action or proceeding with respect to this Guaranty or any
other Credit Document to which any Guarantor is a party may be brought in the courts of the
State of Minnesota or of the United States of America for the District of Minnesota, and, by
execution and delivery of this Guaranty, each Guarantor hereby irrevocably accepts for
itself and in respect of its property, generally and unconditionally, the jurisdiction of
the aforesaid courts. Each Guarantor hereby further irrevocably waives any claim that any
such court lacks personal jurisdiction over such
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Guarantor, and agrees not to plead or claim in any legal action or proceeding with
respect to this Guaranty or any other Credit Document to which such Guarantor is a party
brought in any of the aforesaid courts that any such court lacks personal jurisdiction over
such Guarantor. Each Guarantor further irrevocably consents to the service of process out of
any of the aforementioned courts in any such action or proceeding by the mailing of copies
thereof by registered or certified mail, postage prepaid, to such Guarantor at its address
set forth opposite its signature below, such service to become effective 30 days after such
mailing. Each Guarantor hereby irrevocably waives any objection to such service of process
and further irrevocably waives and agrees not to plead or claim in any action or proceeding
commenced hereunder or under any other Credit Document to which such Guarantor is a party
that such service of process was in any way invalid or ineffective. Nothing herein shall
affect the right of any of the Secured Creditors to serve process in any other manner
permitted by law or to commence legal proceedings or otherwise proceed against each
Guarantor in any other jurisdiction.
(b) Each Guarantor hereby irrevocably waives (to the fullest extent permitted by
applicable law) any objection which it may now or hereafter have to the laying of venue of
any of the aforesaid actions or proceedings arising out of or in connection with this
Guaranty or any other Credit Document to which such Guarantor is a party brought in the
courts referred to in clause (a) above and hereby further irrevocably waives and agrees not
to plead or claim in any such court that such action or proceeding brought in any such court
has been brought in an inconvenient forum.
(c) EACH GUARANTOR AND EACH SECURED CREDITOR (BY ITS ACCEPTANCE OF THE BENEFITS OF THIS
GUARANTY) HEREBY IRREVOCABLY WAIVES ALL RIGHTS TO A TRIAL BY JURY IN ANY ACTION, PROCEEDING
OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS GUARANTY, THE OTHER CREDIT DOCUMENTS TO
WHICH SUCH GUARANTOR IS A PARTY OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY.
21. In the event that all of the capital stock of one or more Guarantors is sold or otherwise
disposed of or liquidated in compliance with the requirements of Section 10.2 of the Credit
Agreement (or such sale or other disposition has been approved in writing by the Required Lenders
(or all Lenders if required by Section 13.12 of the Credit Agreement)) and the proceeds of such
sale, disposition or liquidation are applied in accordance with the provisions of the Credit
Agreement, to the extent applicable, such Guarantor shall upon consummation of such sale or other
disposition (except to the extent that such sale or disposition is to the Borrower or another
Subsidiary thereof) be released from this Guaranty automatically and without further action and
this Guaranty shall, as to each such Guarantor or Guarantors, terminate, and have no further force
or effect (it being understood and agreed that the sale of one or more Persons that own, directly
or indirectly, all of the capital stock of any Guarantor shall be deemed to be a sale of such
Guarantor for the purposes of this Section 21).
22. At any time a payment in respect of the Guaranteed Obligations is made under this
Guaranty, the right of contribution of each Guarantor against each other Guarantor shall be
determined as provided in the immediately following sentence, with the right of
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contribution of each Guarantor to be revised and restated as of each date on which a payment
(a “Relevant Payment”) is made on the Guaranteed Obligations under this Guaranty. At any
time that a Relevant Payment is made by a Guarantor that results in the aggregate payments made by
such Guarantor in respect of the Guaranteed Obligations to, and including the date of the Relevant
Payment exceeding such Guarantor’s Contribution Percentage (as defined below) of the aggregate
payments made by all Guarantors in respect of the Guaranteed Obligations to and including the date
of the Relevant Payment (such excess, the “Aggregate Excess Amount”), each such Guarantor
shall have a right of contribution against each other Guarantor who has made payments in respect of
the Guaranteed Obligations to and including the date of the Relevant Payment in an aggregate amount
less than such other Guarantor’s Contribution Percentage of the aggregate payments made to and
including the date of the Relevant Payment by all Guarantors in respect of the Guaranteed
Obligations (the aggregate amount of such deficit, the “Aggregate Deficit Amount”) in an
amount equal to (x) a fraction the numerator of which is the Aggregate Excess Amount of such
Guarantor and the denominator of which is the Aggregate Excess Amount of all Guarantors multiplied
by (y) the Aggregate Deficit Amount of such other Guarantor. A Guarantor’s right of contribution
pursuant to the preceding sentences shall arise at the time of each computation, subject to
adjustment to the time of each computation; provided, that no Guarantor may take any action to
enforce such right until the Guaranteed Obligations have been irrevocably paid in full in cash, it
being expressly recognized and agreed by all parties hereto that any Guarantor’s right of
contribution arising pursuant to this Section 22 against any other Guarantor shall be expressly
junior and subordinate to such other Guarantor’s obligations and liabilities in respect of the
Guaranteed Obligations and any other obligations owing under this Guaranty. As used in this Section
22: (i) each Guarantor’s “Contribution Percentage” shall mean the percentage obtained by
dividing (x) the Adjusted Net Worth (as defined below) of such Guarantor by (y) the aggregate
Adjusted Net Worth of all Guarantors; (ii) the “Adjusted Net Worth” of each Guarantor shall
mean the greater of (x) the Net Worth (as defined below) of such Guarantor and (y) zero; and (iii)
the “Net Worth” of each Guarantor shall mean the amount by which the fair salable value of
such Guarantor’s assets on the date of any Relevant Payment exceeds its existing debts and other
liabilities (including contingent liabilities, but without giving effect to any Guaranteed
Obligations arising under this Guaranty) on such date. All parties hereto recognize and agree that,
except for any right of contribution arising pursuant to this Section 22, each Guarantor who makes
any payment in respect of the Guaranteed Obligations shall have no right of contribution or
subrogation against any other Guarantor in respect of such payment until all of the Guaranteed
Obligations have been irrevocably paid in full in cash. Each of the Guarantors 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 its contribution right against any Guarantor to the extent that after giving effect to such
waiver such Guarantor would remain solvent, in the determination of the Required Lenders.
23. Each Guarantor and each Secured Creditor (by its acceptance of the benefits of this
Guaranty) hereby confirms that it is its intention that this Guaranty not constitute a fraudulent
transfer or conveyance for purposes of the Bankruptcy Code, the Uniform Fraudulent Conveyance Act
of any similar Federal or state law. To effectuate the foregoing intention, each Guarantor and
each Secured Creditor (by its acceptance of the benefits of this Guaranty) hereby irrevocably
agrees that the Guaranteed Obligations guaranteed by such Guarantor shall be limited to such amount
as will, after giving effect to such maximum amount
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and all other (contingent or otherwise) liabilities of such Guarantor that are relevant under
such laws, and after giving effect to any rights to contribution pursuant to any agreement
providing for an equitable contribution among such Guarantor and other Guarantors, result in the
Guaranteed Obligations of such Guarantor in respect of such maximum amount not constituting a
fraudulent transfer or conveyance.
24. This Guaranty may be executed in any number of counterparts and by the different parties
hereto on separate counterparts, each of which when so executed and delivered shall be an original,
but all of which shall together constitute one and the same instrument. A set of counterparts
executed by all the parties hereto shall be lodged with the Guarantors and the Administrative
Agent.
25. All payments made by any Guarantor hereunder will be made without setoff, counterclaim or
other defense and on the same basis as payments are made by the Borrower under Sections 5.2, 5.4
and 5.5 of the Credit Agreement.
26. Any Subsidiary of the Borrower that is required to become a Subsidiary Guarantor pursuant
to the Credit Agreement after the date hereof shall become a Guarantor hereunder by executing the
Joinder to Amended and Restated Subsidiary Guaranty in the form of Exhibit A hereto and delivering
the same to the Administrative Agent.
27. Each Guarantor has independently, and without reliance on any information supplied by any
Secured Creditor, taken, and will continue to take, whatever steps it deems necessary to evaluate
the financial condition and affairs of the Borrower or any Collateral, and the Secured Creditors
shall have no duty to advise any Guarantor of information at any time known to them regarding such
financial condition or affairs or any Collateral.
[Signatures Follow]
IN WITNESS WHEREOF, each Guarantor has caused this Guaranty to be executed and delivered as of
the date first above written.
XX XXXXXX INFORMATION, INC.,
CITY DIRECTORIES, INC.,
DONNELLEY MARKETING, INC.,
XXXX-XXXXXXXX CORPORATION,
XXXXX XXXXX HOLDINGS, INC.,
INFOUSA MARKETING, INC.,
XXXXXXX GROUP, INC.,
ONESOURCE INFORMATION SERVICES, INC.,
STOREFRONT IMAGES USA, INC.,
TGMVC CORPORATION,
XXXXXX XXXX, INC., and
YESMAIL, INC.
each as a Guarantor
CITY DIRECTORIES, INC.,
DONNELLEY MARKETING, INC.,
XXXX-XXXXXXXX CORPORATION,
XXXXX XXXXX HOLDINGS, INC.,
INFOUSA MARKETING, INC.,
XXXXXXX GROUP, INC.,
ONESOURCE INFORMATION SERVICES, INC.,
STOREFRONT IMAGES USA, INC.,
TGMVC CORPORATION,
XXXXXX XXXX, INC., and
YESMAIL, INC.
each as a Guarantor
By: /s/ XXXXXX X. XXXX
Name: Xxxxxx X. Xxxx
Title: CFO
Name: Xxxxxx X. Xxxx
Title: CFO
Signature Page to Second Amended and Restated Subsidiaries Guaranty
Accepted and Agreed to: | ||||
XXXXX FARGO BANK, NATIONAL ASSOCIATION, as Collateral Agent | ||||
By: |
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Name: |
||||
Title: |
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Signature Page to Second Amended and Restated Subsidiaries Guaranty