Exhibit 10.1

 

AMENDMENT AND CONFIRMATION AGREEMENT

 

This AMENDMENT AND CONFIRMATION AGREEMENT (this “Agreement”) is made and entered
into as of March 30, 2010, by and among ATLANTIC TELE-NETWORK, INC., a Delaware
corporation (“Borrower”), each of the subsidiaries of Borrower identified as
guarantors on the signature pages hereto (individually, a “Guarantor” and,
collectively, the “Guarantors”; and together with Borrower, individually a “Loan
Party” and, collectively, the “Loan Parties”), COBANK, ACB, as Administrative
Agent (“Administrative Agent”), and each of the financial institutions executing
this Agreement and identified as a Lender on the signature pages hereto (the
“Lenders”).

 

RECITALS

 

WHEREAS, the Borrower, the Guarantors and the Lenders have entered into that
certain Amended and Restated Credit Agreement, dated as of January 20, 2010 (as
amended, modified, supplemented, extended or restated from time to time, the
“Credit Agreement”); and

 

WHEREAS, the Lenders, in their collective capacity as Requisite Lenders under
the Credit Agreement, have agreed to extend the availability of the Term Loan B
under the Credit Agreement as more fully described herein.

 

NOW, THEREFORE, in consideration of the foregoing and the agreements set forth
in this Agreement, each of the Borrower, the Guarantors and the Lenders party
hereto hereby agrees as follows:

 

SECTION 1.  CAPITALIZED TERMS USED HEREIN AND NOT OTHERWISE DEFINED HEREIN SHALL
HAVE THE MEANINGS ASCRIBED TO THEM IN THE CREDIT AGREEMENT.

 

SECTION 2.  AMENDMENTS TO CREDIT AGREEMENT. IN RELIANCE ON THE REPRESENTATIONS
AND WARRANTIES OF THE BORROWER AND THE GUARANTORS CONTAINED IN THIS AGREEMENT
AND IN CONNECTION WITH THE REQUEST OF THE BORROWER FOR SUCH AMENDMENT, AND
SUBJECT TO THE EFFECTIVENESS OF THIS AGREEMENT AS DESCRIBED BELOW, THE CREDIT
AGREEMENT IS HEREBY AMENDED AS SET FORTH BELOW.

 

(A)          SUBSECTION 2.2.  SUBSECTION 2.2 OF THE CREDIT AGREEMENT IS HEREBY
AMENDED BY DELETING THE WORDS “, AND WILL CAUSE THEIR SUBSIDIARIES, TO” WHERE
SUCH WORDS APPEAR IN THE THIRD TO LAST SENTENCE THEREOF, AND BY ADDING THE WORDS
“OF THE LOAN PARTIES” AFTER THE WORDS “ALL INSURANCE POLICIES” IN THE FINAL
SENTENCE THEREOF.

 

(B)          SUBSECTION 2.12.  SUBSECTION 2.12 OF THE CREDIT AGREEMENT IS HEREBY
AMENDED BY ADDING THE FOLLOWING SENTENCE AT THE END OF SUCH SUBSECTION.

 

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Notwithstanding the above, so long as any Partnership is not wholly-owned
directly or indirectly by the Loan Parties, such Partnership shall not be
required to execute and deliver to Administrative Agent a Joinder Agreement.

 

(C)          SUBSECTION 10.1. THE DEFINITION OF “TERM LOAN B AVAILABILITY
EXPIRATION DATE” IN SUBSECTION 10.1 OF THE CREDIT AGREEMENT IS HEREBY AMENDED
AND RESTATED IN ITS ENTIRETY TO READ AS FOLLOWS:

 

“Term Loan B Availability Expiration Date” means April 30, 2010.

 

SECTION 3.  NOTWITHSTANDING THAT CONSENT TO THE SAME MAY NOT BE REQUIRED BY THE
CREDIT AGREEMENT, EACH OF THE ADMINISTRATIVE AGENT AND THE LENDERS PARTY HERETO
CONSENTS TO  THE CHANGES TO THE VERIZON ACQUISITION DOCUMENTATION SET FORTH IN
THE FORM OF THE TRANSITION SERVICES AGREEMENT FORWARDED TO THE ADMINISTRATIVE
AGENT ON MARCH 25, 2010.

 

SECTION 4.  PURSUANT TO SUBSECTION 3.6 OF THE CREDIT AGREEMENT, THE BORROWER IS
REQUIRED TO PROVIDE 10 DAYS PRIOR NOTICE OF AND A COPY THEREOF OR DOCUMENTATION
RELATING TO ANY MERGER, CONSOLIDATION, DISSOLUTION, LIQUIDATION OR AMALGATIONS
PERMITTED UNDER SUBSECTION 3.6(B) OR (C) TO THE ADMINISTRATIVE AGENT.  THE
BORROWER HAS ADVISED THE ADMINISTRATIVE AGENT THAT IT MAY ELECT TO MERGE ADAMS
DIVESTITURE COMPANY LLC WITH OR DISSOLVE ADAMS DIVESTITURE COMPANY LLC INTO
ANOTHER LOAN PARTY ON THE INITIAL FUNDING DATE OR WITHIN 5 BUSINESS DAYS OF THE
INITIAL FUNDING DATE.  THE BORROWER HAS REQUESTED THAT IF IT ELECTS TO SO MERGE
OR DISSOLVE ADAMS DIVESTITURE COMPANY LLC IT BE PERMITTED TO PROVIDE THE
REQUIRED NOTICE AND COPIES OR DOCUMENTATION ON THE INITIAL FUNDING DATE OR SUCH
BUSINESS DAY RATHER THAN 10 DAYS PRIOR TO SUCH DATE.  IN RELIANCE ON THE
REPRESENTATIONS AND WARRANTIES OF THE BORROWER AND THE GUARANTORS CONTAINED IN
THIS AGREEMENT AND IN CONNECTION WITH THE REQUEST OF THE BORROWER FOR SUCH
CONSENT, AND SUBJECT TO THE EFFECTIVENESS OF THIS AGREEMENT AS DESCRIBED BELOW,
THE LENDERS PARTY HERETO SO CONSENT, PROVIDED HOWEVER, SUCH CONSENT SHALL NOT
APPLY IF SUCH MERGER OR DISSOLUTION OCCURS MORE THAN FIVE BUSINESS DAYS AFTER
THE INITIAL FUNDING DATE.

 

SECTION 5.  THIS AGREEMENT SHALL NOT CONSTITUTE A NOVATION OF THE CREDIT
AGREEMENT OR ANY OTHER LOAN DOCUMENT.  EXCEPT AS EXPRESSLY PROVIDED IN THIS
AGREEMENT, THE EXECUTION AND DELIVERY OF THIS AGREEMENT DOES NOT AND WILL NOT
AMEND, MODIFY OR SUPPLEMENT ANY PROVISION OF, OR CONSTITUTE A CONSENT TO OR A
WAIVER OF ANY NONCOMPLIANCE WITH THE PROVISIONS OF, THE LOAN DOCUMENTS, AND THE
LOAN DOCUMENTS SHALL REMAIN IN FULL FORCE AND EFFECT.

 

SECTION 6.  EACH OF THE LOAN PARTIES HEREBY REPRESENTS AND WARRANTS TO THE
LENDERS AS FOLLOWS:

 

(A)          SUCH LOAN PARTY HAS THE RIGHT AND POWER, AND HAS TAKEN ALL
NECESSARY ACTION TO AUTHORIZE IT, TO EXECUTE, DELIVER AND PERFORM THIS AGREEMENT
IN ACCORDANCE WITH ITS TERMS.  THIS AGREEMENT HAS BEEN DULY EXECUTED AND
DELIVERED BY SUCH LOAN PARTY AND IS A LEGAL, VALID AND BINDING OBLIGATION OF IT,
ENFORCEABLE AGAINST IT IN ACCORDANCE WITH ITS TERMS.

 

(B)          THE EXECUTION, DELIVERY AND PERFORMANCE OF THIS AGREEMENT IN
ACCORDANCE WITH ITS TERMS DO NOT AND WILL NOT, BY THE PASSAGE OF TIME, THE
GIVING OF NOTICE OR OTHERWISE,

 

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(1)            REQUIRE ANY GOVERNMENTAL APPROVAL OR VIOLATE ANY APPLICABLE LAW
RELATING TO SUCH LOAN PARTY;

 

(2)            CONFLICT WITH, RESULT IN A BREACH OF OR CONSTITUTE A DEFAULT
UNDER THE ORGANIZATIONAL DOCUMENTS OF SUCH LOAN PARTY, ANY MATERIAL PROVISION OF
ANY INDENTURE, AGREEMENT OR OTHER INSTRUMENT TO WHICH IT IS A PARTY OR BY WHICH
IT OR ANY OF ITS PROPERTIES MAY BE BOUND OR ANY GOVERNMENTAL APPROVAL RELATING
TO IT; OR

 

(3)            RESULT IN OR REQUIRE THE CREATION OR IMPOSITION OF ANY LIEN
(EXCEPT AS PERMITTED BY THE LOAN DOCUMENTS) UPON OR WITH RESPECT TO ANY PROPERTY
NOW OWNED OR HEREAFTER ACQUIRED BY SUCH LOAN PARTY.

 

(C)          THE REPRESENTATIONS AND WARRANTIES OF SUCH LOAN PARTY SET FORTH IN
THE LOAN DOCUMENTS ARE TRUE AND CORRECT AS OF THE DATE HEREOF AS IF MADE ON THE
DATE HEREOF.

 

(D)          No Event of Default under the Loan Documents has occurred and is
continuing as of this date.

 

SECTION 7.  THE BORROWER HEREBY CONFIRMS AND AGREES THAT (A) EACH SECURITY
DOCUMENT IS AND SHALL CONTINUE TO BE IN FULL FORCE AND EFFECT, AND (B) THE
OBLIGATIONS SECURED BY EACH SUCH DOCUMENT INCLUDE ANY AND ALL OBLIGATIONS OF THE
LOAN PARTIES TO THE SECURED PARTIES UNDER THE CREDIT AGREEMENT.

 

SECTION 8.  EACH OF THE GUARANTORS HEREBY CONFIRMS AND AGREES THAT (A) ITS
GUARANTEE CONTAINED IN THE CREDIT AGREEMENT AND EACH SECURITY DOCUMENT TO WHICH
IT IS A PARTY IS AND SHALL CONTINUE TO BE IN FULL FORCE AND EFFECT, AND (B) THE
OBLIGATIONS GUARANTEED OR SECURED BY EACH SUCH APPLICABLE DOCUMENT INCLUDE ANY
AND ALL OBLIGATIONS OF THE LOAN PARTIES TO THE SECURED PARTIES UNDER THE CREDIT
AGREEMENT.

 

SECTION 9.  THIS AGREEMENT SHALL BE EFFECTIVE ONLY UPON RECEIPT BY THE
ADMINISTRATIVE AGENT OF AN EXECUTION COUNTERPART HERETO SIGNED BY THE BORROWER,
EACH GUARANTOR, AND THE REQUISITE LENDERS.

 

SECTION 10.  THE BORROWER AGREES TO PAY TO THE ADMINISTRATIVE AGENT, ON DEMAND,
ALL REASONABLE OUT-OF-POCKET COSTS AND EXPENSES INCURRED BY THE ADMINISTRATIVE
AGENT, INCLUDING, WITHOUT LIMITATION, THE REASONABLE FEES AND EXPENSES OF
COUNSEL RETAINED BY THE ADMINISTRATIVE AGENT, IN CONNECTION WITH THE
NEGOTIATION, PREPARATION, EXECUTION AND DELIVERY OF THIS AGREEMENT AND ALL OTHER
INSTRUMENTS AND DOCUMENTS CONTEMPLATED HEREBY.

 

SECTION 11.  THIS AGREEMENT MAY BE EXECUTED IN ANY NUMBER OF COUNTERPARTS AND BY
THE DIFFERENT PARTIES HERETO IN SEPARATE COUNTERPARTS, EACH OF WHICH WHEN
EXECUTED SHALL BE DEEMED TO BE AN ORIGINAL AND SHALL BE BINDING UPON ALL PARTIES
AND THEIR RESPECTIVE PERMITTED SUCCESSORS AND ASSIGNS, AND ALL OF WHICH TAKEN
TOGETHER SHALL CONSTITUTE ONE AND THE SAME AGREEMENT.

 

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SECTION 12.  THIS AGREEMENT SHALL BE GOVERNED BY AND SHALL BE CONSTRUED AND
ENFORCED IN ACCORDANCE WITH ALL PROVISIONS OF THE CREDIT AGREEMENT, INCLUDING
THE GOVERNING LAW PROVISIONS THEREOF.

 

[SIGNATURES FOLLOW ON NEXT PAGE.]

 

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Witness the due execution hereof by the respective duly authorized officers of
the undersigned as of the date first written above.

 

BORROWER:

 

 

ATLANTIC TELE-NETWORK, INC.

 

 

 

/s/ Justin D. Benincasa

 

Justin D. Benincasa, Chief Financial Officer

 

 

GUARANTORS:

 

 

COMMNET WIRELESS, LLC

 

COMMNET FOUR CORNERS, LLC

 

COMMNET MIDWEST, LLC

 

COMMNET OF ARIZONA, L.L.C.

 

GILA COUNTY WIRELESS, LLC

 

EXCOMM, L.L.C.

 

SOVERNET HOLDING CORPORATION

 

COMMNET OF NEVADA, LLC

 

TISDALE TELEPHONE COMPANY, LLC

 

COMMNET NV, LLC

 

COMMNET OF TEXAS, LLC

 

ALLIED WIRELESS

 

COMMUNICATIONS CORPORATION

 

CHOICE COMMUNICATIONS, LLC

 

 

 

/s/ Justin D. Benincasa

 

Justin D. Benincasa, Treasurer

 

 

 

SOVERNET, INC.

 

NATIONAL MOBILE

 

COMMUNICATIONS CORPORATION

 

 

 

/s/ Justin D. Benincasa

 

Justin D. Benincasa, Chief Financial Officer

 

 

 

SAL SPECTRUM LLC

 

By: Atlantic Tele-Network, Inc., its Sole Member

 

 

 

/s/ Justin D. Benincasa

 

Justin D. Benincasa, Chief Financial Officer

 

 

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COBANK, ACB, as Administrative Agent and as a Lender

 

 

 

 

 

By:

/s/ Andy Smith

 

 

Andy Smith

 

 

Vice President

 

 

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BANK OF AMERICA, N.A., as a Lender

 

 

 

 

 

By:

/s/ John B. Desmond

 

 

John B. Desmond

 

 

Senior Vice President

 

 

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BANCO POPULAR DE PUERTO RICO, as a Lender

 

 

 

 

 

By:

/s/ Ian S. Smith

 

 

Ian S. Smith

 

 

Vice President

 

 

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BROWN BROTHERS HARRIMAN & CO., as a Lender

 

 

 

 

 

By:

/s/ Scott Meves

 

 

Scott Meves

 

 

Senior Vice President

 

 

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DEUTSCHE BANK TRUST COMPANY AMERICAS, as a Lender

 

 

 

 

 

By:

/s/ Enrique Landaeta

 

 

Enrique Landaeta

 

 

Vice President

 

 

 

 

 

By:

/s/ Marguerite Sutton

 

 

Marguerite Sutton

 

 

Director

 

 

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FIFTH THIRD BANK, as a Lender

 

 

 

 

 

By:

/s/ Valerie Schanzer

 

 

Valerie Schanzer

 

 

Vice President

 

 

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RAYMOND JAMES BANK, FSB, as a Lender

 

 

 

 

 

By:

/s/ Joseph A. Ciccolini

 

 

Joseph A. Ciccolini

 

 

Vice President — Senior Corporate Banker

 

 

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UNION BANK, N.A., as a Lender

 

 

 

 

 

By:

/s/ Richard Vian

 

 

Richard Vian

 

 

Vice President

 

 

[Signatures Continued on Following Page.]

 

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                                                                      , as a
voting participant pursuant to Subsection 8.1(D) of the Credit Agreement

 

 

 

 

 

By:

 

 

Name:

 

Title:

 

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