Exhibit 10.2
December 14, 2009
ViaSat, Inc.
6155 El Camino Real
Carlsbad, CA 92009
Attention: Paul Konopka, Esq.
Re: WildBlue Acquisition/Calculation of EBITDA – Third Amendment
Gentlemen:
     We refer to that certain Fourth Amended and Restated Revolving Loan
Agreement dated as of July 1, 2009 among ViaSat, Inc., a Delaware corporation
(the “Borrower”), each lender from time to time party thereto, Union Bank, N.A.,
as Administrative Agent (in such capacity, “Administrative Agent”), Bank of
America, N.A., as Syndication Agent, JPMorgan Chase Bank, N.A., as Documentation
Agent, Banc of America Securities LLC and Union Bank, N.A., as Joint Lead
Arrangers and Joint Book Runners and Union Bank, N.A., as Collateral Agent, as
amended (the “Credit Agreement”). Capitalized terms used herein and not defined
shall have the meanings assigned to them in the Credit Agreement. Reference is
also made to the WildBlue Acquisition.
     The Borrower, the Lenders and the Agents hereby agree, effective as of the
date first set forth above and for all periods ending on or after such date,
that the definition of “EBITDA” contained in Section 1.1 of the Credit Agreement
is amended as follows:
     (a) the word “and” at the end of clause (b)(v) is deleted; and new clauses
(vii) and (viii) are added immediately after the phrase “statement of
operations,” to read as follows:
     “(vii) non-recurring expenses for professional services, regulatory
clearances and filings, transfer fees, severance payments and other similar
closing costs (to the extent such expenses are not capitalized by the Borrower)
incurred in connection with the WildBlue Acquisition, provided that such
non-recurring expenses shall not exceed an aggregate amount of $27,500,000; and
(viii) non-recurring expenses for professional services, regulatory clearances
and filings, transfer fees, severance payments and other similar closing costs
(to the extent such expenses are not capitalized by the Borrower) incurred in
connection with Permitted Acquisitions (other than the WildBlue Acquisition) and
reasonably approved by the Administrative Agent”; and
     (b) the following sentence is added to the end of such definition:
     “For the avoidance of doubt, for purposes of calculating EBITDA with
respect to any period in which the WildBlue Acquisition occurred, such
Acquisition shall be deemed to have occurred on the first day of such period.
Accordingly, as to any such period Net Income, Interest Expense, expense for
taxes paid or accrued and each other component contained in the definition of
“EBITDA” shall be deemed to include the actual results of WildBlue on a pro
forma consolidated basis with the Borrower as if such Acquisition had occurred
on the first day of such period.”

 

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     The governing law and venue provisions of Section 11.17 of the Credit
Agreement are incorporated herein by this reference mutatis mutandis. This
letter amendment may be executed in two or more counterparts, each of which
shall be deemed an original, but all of which together shall constitute one
instrument. Delivery of an executed counterpart hereof by facsimile or
electronic transmission shall be effective as delivery of a manually executed
counterpart. Except as amended hereby, all of the provisions of the Credit
Agreement and the other Loan Documents shall remain unmodified and in full force
and effect except that each reference to the “Agreement”, or words of like
import in any Loan Document, shall mean and be a reference to the Credit
Agreement as amended hereby. This letter amendment shall be deemed a “Loan
Document” as defined in the Credit Agreement.

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     If you are in agreement with the foregoing, please execute this letter is
the space provided below.

     

                  Very truly yours,    
 
                UNION BANK, N.A.,         as Administrative Agent and as a
Lender    
 
           
 
  By:   /s/ Mark Adelman    
 
           
 
  Name:   Mark Adelman    
 
  Title:   Vice President    

Agreed to as of the date first set forth above:
VIASAT, INC.,
a Delaware corporation

         
By:
  /s/ Keven K. Lippert    
 
        Name: Keven K. Lippert     Title: Vice President and Secretary    

 

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          Bank of America, N.A.,     as a Lender    
 
       
By:
  /s/ Christopher D. Pannacciulli    
 
        Name: Christopher D. Pannacciulli     Title: Senior Vice President    

 

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          BANK OF THE WEST,     as a Lender    
 
       
By:
  /s/ Ed Ong    
 
        Name: Ed Ong     Title: Vice President    

 

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          California Bank & Trust,     as a Lender    
 
       
By:
  /s/ Steve DeLong    
 
        Name: Steve DeLong     Title: Senior Vice President & Manager    

 

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          COMERICA BANK,     as a Lender    
 
       
By:
  /s/ Steve D. Clear    
 
        Name: Steve D. Clear     Title: Vice President    

 

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          JPMorgan Chase Bank, N.A.,     as a Lender    
 
       
By:
  /s/ Anna C. Ruiz    
 
        Name: Anna C. Ruiz     Title: Vice President    

 

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          Wells Fargo Bank, National Association,     as a Lender    
 
       
By:
  /s/ Donald S. Green    
 
        Name: Donald S. Green     Title: Vice President