Exhibit 10.2

 

FIRST AMENDMENT

TO AMENDED AND RESTATED CREDIT AGREEMENT

 

FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT dated as of December
15, 2004 (this “Amendment”), among LBI MEDIA, INC., THE GUARANTORS PARTY HERETO,
THE LENDERS PARTY HERETO and CREDIT SUISSE FIRST BOSTON, as Administrative Agent
and Lead Arranger.

 

WHEREAS, the Credit Parties, the Lenders (including the Issuing Lender), and the
Administrative Agent wish to amend the Credit Agreement to revise certain
provisions and covenants;

 

NOW, THEREFORE, in consideration of the foregoing and the agreements contained
herein, the parties hereby agree as follows:

 

1. REFERENCE TO CREDIT AGREEMENT.

 

Reference is made to the Amended and Restated Credit Agreement dated as of June
11, 2004, among the Borrower, the Guarantors, the Lenders and the Administrative
Agent (the “Credit Agreement”). Capitalized terms used herein which are defined
in the Credit Agreement have the same meanings herein as therein, except to the
extent that such meanings are amended hereby.

 

2. AMENDMENTS. The Credit Parties, the Lenders and the Administrative Agent
agree that the Credit Agreement is hereby amended, effective as of the date
hereof, as follows:

 

2.1. The definition of Qualifying IPO is hereby amended by deleting the
reference to “December 31, 2004” and replacing it with “December 31, 2005.”

 

2.2. Section 7.16(b) of the Credit Agreement is hereby amended by adding at the
end thereof the following phrase: “, provided that nothing herein shall prohibit
any License Subsidiary from (x) entering into and performing under management
agreements in form reasonably acceptable to the Administrative Agent with one or
more Credit Parties pursuant to which such License Subsidiary licenses to such
Credit Parties for royalty payments the FCC Licenses owned by such License
Subsidiary and pursuant to which such Credit Parties agree to operate their
stations in accordance with policies established by such License Subsidiary and
in accordance with FCC Regulations and (y) engaging in business incidental
thereto. The rights of each License Subsidiary and each Operating Subsidiary
under each such management agreement shall constitute Collateral and at the
request of the Administrative Agent upon the occurrence and during the
continuation of an Event of Default and upon the occurrence and during the
continuance of any event allowing the License Subsidiary the authority to
terminate such agreement, the License Subsidiary shall cause such termination to
occur.”

 

3. NO DEFAULT; REPRESENTATIONS AND WARRANTIES. The Credit Parties hereby confirm
that:

 

3.1. the representations and warranties of the Credit Parties contained in
Article 4 of the Credit Agreement (as amended by this Agreement) are true on and
as of the date hereof as if made on such date (except to the extent that such
representations and warranties expressly relate to an earlier date);

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3.2. after giving effect to this Amendment, the Credit Parties are in compliance
with all of the terms and provisions set forth in the Credit Agreement on their
part to be observed or performed thereunder; and

 

3.3. after giving effect to this Amendment, no Event of Default, nor any event
which with the giving of notice or expiration of any applicable grace period or
both would constitute such an Event of Default, shall have occurred and be
continuing.

 

4. CONDITIONS TO THIS AMENDMENT.

 

The effectiveness of this Amendment is conditioned on the satisfaction of each
of the following conditions:

 

4.1. Execution of Amendment. The Administrative Agent shall have received from
the Borrower, each Guarantor, each Holding Company, the Administrative Agent and
the Required Lenders either (i) a counterpart of this Amendment signed on behalf
of such party or (ii) written evidence satisfactory to the Administrative Agent
(which may include telecopy transmission of a signed signature page of this
Agreement) that such party has signed a counterpart of this Amendment.

 

4.2. Corporate Matters. Appropriate corporate resolutions, if necessary, and
such other certificates, instruments and documents as the Administrative Agent
may reasonably request for the purpose of implementing or effectuating the
provisions of the Credit Agreement, as hereby amended, or this Amendment.

 

4.3. Other Documents. Such other documents and instruments as the Administrative
Agent may reasonably require in order to put this Amendment into full force and
effect.

 

5. MISCELLANEOUS.

 

5.1. Except to the extent specifically amended hereby, the Credit Agreement, the
Loan Documents and all related documents shall remain in full force and effect.
Whenever the terms or sections amended hereby shall be referred to in the Credit
Agreement, Loan Documents or such other documents (whether directly or by
incorporation into other defined terms), such terms or sections shall be deemed
to refer to those terms or sections as amended by this Amendment.

 

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5.2. This Amendment may be executed in any number of counterparts, each of
which, when executed and delivered, shall be an original, but all counterparts
shall together constitute one instrument.

 

5.3. This Amendment shall be governed by the laws of the State of New York and
shall be binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns.

 

5.4. The Credit Parties agree to pay all reasonable expenses, including
reasonable legal fees and disbursements incurred by the Administrative Agent in
connection with this Amendment and the transactions contemplated hereby.

 

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IN WITNESS WHEREOF, the parties hereto have executed this Amendment which shall
be deemed to be a sealed instrument as of the date first above written.

 

BORROWER

LBI MEDIA, INC., a California corporation

By:

 

/s/ Steven Cramer

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Name:

 

Steven Cramer

Title:

 

Chief Financial Officer

 

[First Amendment to Amended and Restated Credit Agreement Signature Page]

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GUARANTORS

LIBERMAN TELEVISION OF HOUSTON,

INC., a California corporation

KZJL LICENSE CORP., a California corporation

LIBERMAN TELEVISION, INC., a California

corporation

KRCA TELEVISION, INC., a California

corporation

KRCA LICENSE CORP., a California

corporation

LIBERMAN BROADCASTING, INC., a

California corporation

LBI RADIO LICENSE CORP., a California

corporation

LIBERMAN BROADCASTING OF

HOUSTON, INC., a California corporation

LIBERMAN BROADCASTING OF HOUSTON

LICENSE CORP., a California corporation

LIBERMAN BROADCASTING OF DALLAS,

INC., a California corporation

LIBERMAN BROADCASTING OF DALLAS

LICENSE CORP., a California corporation

LIBERMAN TELEVISION OF DALLAS, INC., a California corporation

LIBERMAN TELEVISION OF DALLAS

LICENSE CORP., a California corporation

EMPIRE BURBANK STUDIOS, INC., a California Corporation By:  

/s/ Steven Cramer

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Name:   Steven Cramer Title:   Chief Financial Officer

 

[First Amendment to Amended and Restated Credit Agreement Signature Page]

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HOLDING COMPANIES Solely with respect to provisions of Section 7.15: LBI
HOLDINGS I, INC., a California corporation By:  

/s/ Steven Cramer

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Name:   Steven Cramer Title:   Chief Financial Officer LBI MEDIA HOLDINGS, INC.,
a Delaware corporation By:  

/s/ Steven Cramer

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Name:   Steven Cramer Title:   Chief Financial Officer

 

[First Amendment to Amended and Restated Credit Agreement Signature Page]

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ADMINISTRATIVE AGENT

CREDIT SUISSE FIRST BOSTON, CAYMAN ISLANDS BRANCH, as Administrative Agent, Lead
Arranger and Lender By:  

/s/ William O’Daly

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Name:   William O’Daly Title:   Director By:  

/s/ Cassandra Droogan

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Name:   Cassandra Droogan Title:   Associate

 

[First Amendment to Amended and Restated Credit Agreement Signature Page]

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LENDER SUNTRUST BANK By:  

/s/ Kip Hurd

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Name:   Kip Hurd Title:   Vice President

 

[First Amendment to Amended and Restated Credit Agreement Signature Page]

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LENDER CIBC INC. By:  

/s/ Jonathan Rabinowitz

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Name:   Jonathan Rabinowitz Title:   Executive Director     CIBC World Markets
Corp., as Agent

 

[First Amendment to Amended and Restated Credit Agreement Signature Page]

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LENDER

DEUTSCHE BANK TRUST COMPANY

AMERICAS

By:  

/s/ Gregory Shefrin

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Name:   Gregory Shefrin Title:   Director

 

[First Amendment to Amended and Restated Credit Agreement Signature Page]

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LENDER

WACHOVIA BANK NATIONAL

ASSOCIATION

By:

 

/s/ Russ Lyons

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Name:

  Russ Lyons

Title:

  Director

 

[First Amendment to Amended and Restated Credit Agreement Signature Page]

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LENDER HARRIS NESBITT FINANCING, INC.

By:

 

/s/ Sarah Kim

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Name:

  Sarah Kim

Title:

  Managing Director

 

[First Amendment to Amended and Restated Credit Agreement Signature Page]