Exhibit 10.21
FIRST AMENDMENT
     FIRST AMENDMENT (this “Amendment”), dated as of December 31, 2005, to the
Credit Agreement dated as of November 4, 2005 (the “Credit Agreement”), among
LIN Television Corporation, a Delaware corporation (the “Borrower”),
Televicentro of Puerto Rico, LLC, a Delaware limited liability company (the
“Permitted Borrower”), the several banks and other institutions from time to
time parties thereto (the “Lenders”), JPMorgan Chase Bank, N.A., as
administrative agent (in such capacity, the “Administrative Agent”), as an
issuing lender (in such capacity, an “Issuing Lender”), and as swingline lender
(in such capacity, the “Swingline Lender”), Deutsche Bank Trust Company
Americas, as syndication agent (in such capacity, the “Syndication Agent”) and
as an Issuing Lender, Goldman Sachs Credit Partners, L.P., Bank of America, N.A.
and Wachovia Bank, National Association as documentation agents (in such
capacity, each a “Documentation Agent”), and The Bank of Nova Scotia and
SunTrust Bank, as co-documentation agents (in such capacity, each a
“Co-Documentation Agent”), and J.P. Morgan Securities Inc. and Deutsche Bank
Securities Inc., as joint lead arrangers and joint bookrunners.
W I T N E S S E T H:
     WHEREAS, pursuant to the Credit Agreement, the Lenders have agreed to make,
and have made, certain loans and other extensions of credit to the Borrowers;
     WHEREAS, the Borrowers have requested that certain provisions of the Credit
Agreement be amended as set forth herein; and
     WHEREAS, the Lenders are willing to agree to such amendment on the terms
set forth herein;
     NOW THEREFORE, in consideration of the premises and mutual covenants
contained herein, the undersigned hereby agree as follows:
     I. Defined Terms. Terms defined in the Credit Agreement and used herein
shall have the meanings given to them in the Credit Agreement.
     II. Amendments to Section 2.1.
     (a) Section 2.1(a) is hereby amended by adding thereto, at the end thereof,
two new sentences reading in their entirety as follows:
“Such apportionment of the Delayed-Draw Term Loans may be changed at any time,
and from time to time, by the Borrower by its giving notice of such change to
the Administrative Agent, which shall promptly notify the Delayed-Draw Term
Lenders thereof. It is understood and agreed that nothing in the definition of
“Borrower Delayed-Draw Term Loan Commitments” or “Permitted Borrower
Delayed-Draw Term Loan Commitments” shall be construed to prohibit the
apportionment of the Delayed-Draw Term Loans in accordance with the previous
sentence.”
     (b) Section 2.1(b) is hereby amended by adding thereto, at the end thereof,
a new sentence reading in its entirety as follows:

 

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“The apportionment of any Incremental Term Loans between the Borrower and the
Permitted Borrower may be changed at any time, and from time to time, by the
Borrower by its giving notice of such change to the Administrative Agent, which
shall promptly notify the Incremental Term Lenders.”
     III. Amendment to Section 2.3(a). Section 2.3(a) is hereby amended by
adding thereto, at the end thereof, two new sentences reading in their entirety
as follows:
“Any partial payment of principal will be allocated by the Borrower between the
Delayed-Draw Term Loans made to the Borrower and the Delayed-Draw Term Loans
made to the Permitted Borrower as directed by the Borrower in a notice to the
Administrative Agent prior to any such payment, or in the absence of any such
notice ratably between them. The Administrative Agent shall promptly notify each
Delayed-Draw Term Lender of such direction.”
     IV. Amendment to Section 2.3(b). Section 2.3(b) is hereby amended by adding
thereto, at the end thereof, two new sentences reading in their entirety as
follows:
“Any partial payment of principal will be allocated by the Borrower between the
Incremental Term Loans made to the Borrower and the Incremental Term Loans made
to the Permitted Borrower as directed by the Borrower in a notice to the
Administrative Agent prior to any such payment, or in the absence of any such
notice ratably between them. The Administrative Agent shall promptly notify each
Incremental Term Lender of such direction.”
     V. Amendment to Section 2.8. Section 2.8 is hereby amended by deleting the
phrase “Delayed-Draw” each time it appears in the last sentence thereof.
     VI. Amendment to Section 10.6(a). Section 10.6(a) is hereby amended by
adding immediately following “(i)” the words “other than as provided in the last
two sentences of Section 2.1(a) and in the last sentence of Section 2.1(b).”
     VII. Effective Date. This Amendment shall become effective as of and with
effect from the date hereof, on the date on which the Borrower, the Permitted
Borrower and each of the Lenders under the Credit Agreement shall have duly
executed and delivered to the Administrative Agent this Amendment.
     VIII. Representations and Warranties. The Borrowers hereby represent and
warrants that after giving effect to this Amendment, no Default or Event of
Default shall have occurred and be continuing.
     IX. No Other Amendments; Confirmation. Except as expressly amended hereby,
the provisions of the Credit Agreement, as amended and restated, are and shall
remain in full force and effect.
     X. Governing Law. This Amendment and the rights and obligations of the
parties hereto shall be governed by, and construed and interpreted in accordance
with, the laws of the State of New York.
     XI. Counterparts. This Amendment may be executed by one or more of the
parties hereto on any number of separate counterparts, and all of said
counterparts taken together shall be deemed

 

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to constitute one and the same instrument. This Amendment may be delivered by
facsimile transmission of the relevant signature pages hereof.

 

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     IN WITNESS WHEREOF, the undersigned have caused this Amendment to be
executed and delivered by their duly authorized officers as of the date first
above written.

            LIN TELEVISION CORPORATION
      By:   /s/ Vincent L. Sadusky      Name:   Vincent L. Sadusky      Title:  
CFO & Treasurer    

            TELEVICENTRO OF PUERTO RICO LLC
By: LIN TELEVISION OF SAN JUAN, INC., its
managing member
      By:   /s/ Vincent L. Sadusky     Name:   Vincent L. Sadusky     Title:  
Vice President CFO & Treasurer  

 

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            JPMORGAN CHASE BANK, N.A., individually and as
Administrative Agent, Swingline Lender and Issuing
Lender
      By:   /s/ Tracey Navin Ewing     Name:   Tracey Navin Ewing     Title:  
Vice President    

 

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            DEUTSCHE BANK TRUST COMPANY AMERICAS, individually and as
Syndication Agent and an Issuing Lender
      By:   /s/ Susan LeFevre      Name:   Susan LeFevre      Title:   Director 
      By:   /s/ Omayra Laucella      Name:   Omayra Laucella      Title:   Vice
President   

 

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            GOLDMAN SACHS CREDIT PARTNERS L.P.,
individually and as Documentation Agent
      By:   /s/ Bruce H. Mendelsohn      Name:   Bruce H. Mendelsohn     
Title:   Authorized Signatory   

 

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            BANK OF AMERICA, N.A., individually and as
Documentation Agent
      By:   /s/ Amy Peoen      Name:   Amy Peoen      Title:   Vice President   

 

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            WACHOVIA BANK, NATIONAL ASSOCIATION, individually and as
Documentation Agent
      By:   /s/ Russell L. Lyons      Name:   Russell L. Lyons      Title:  
Director     

 

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            THE BANK OF NOVA SCOTIA, individually and as
Co-Documentation Agent
      By:   /s/ Brenda S. Insull     Name:   Brenda S. Insull     Title:  
Authorized Signatory    

 

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            SUNTRUST BANK, individually and as Co-Documentation Agent
      By:   /s/ Jeffrey Hauser     Name:   Jeffrey Hauser     Title:   Managing
Director    

 

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            SCOTIABANC INC., as Lender
      By:     /s/ Richard Bartolo     Name:   Richard Bartolo     Title:  
Director    

 

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            THE ROYAL BANK OF SCOTLAND plc, as Lender
      By:     /s/ Vincent Fitzgerald     Name:   Vincent Fitzgerald     Title:  
Managing Director    

 

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            BNP PARIBAS, as Lender
      By:     /s/ Ola Anderssen     Name:   Ola Anderssen     Title:   Director
            By:     /s/ Gregg Bonardi     Name:   Gregg Bonardi     Title:  
Director
Media & Telecom Finance  

 

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            CITIBANK, N.A., as Lender
      By:  /s/ J. Judge     Name:   J. Judge     Title:   Vice President  

 

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            SUMITOMO MITSUI BANKING CORPORATION, as Lender
      By:   /s/ Shigeru Tsuru     Name:   Shigeru Tsuru     Title:   Joint
General Manager    

 

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            U.S. BANCORP, as Lender
      By:   /s/ Alan McLintock      Name:   Alan McLintock     Title:     Vice
President

 

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            GENERAL ELECTRIC CAPITAL CORPORATION, as Lender
      By:   /s/ Joseph Badini     Name:   Joseph Badini     Title:   Duly
Authorized Signatory    

 

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            BAYERISCHE LANDESBANK, NEW YORK BRANCH, as Lender
      By:   /s/ Norman McClave     Name:   Norman McClave     Title:   First
Vice President             By:   /s/ Stuart Schulman     Name:   Stuart Schulman
    Title:   Senior Vice President    

 

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            THE BANK OF NEW YORK, as Lender
      By:   /s/ Steven F. Cornell     Name:   Steven F. Cornell     Title:  
Vice President    

 

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            CREDIT SUISSE FIRST BOSTON, CAYMAN ISLANDS BRANCH, as Lender
      By:   /s/ Doreen Barr     Name:   Doreen Barr     Title:   Vice President
            By:   Phillip Ho     Name:   Phillip Ho     Title:   Directory  

 

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            BANK OF SCOTLAND, as Lender
      By:   /s/ Karen Weich     Name:   Karen Weich     Title:   Assistant Vice
President    

 

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            MIZUHO CORPORATE BANK, LTD., as Lender
      By:   /s/ James Fayen     Name:   James Fayen     Title:   Deputy General
Manager    

 

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            ALLIED IRISH BANKS, P.L.C., as Lender
      By:   /s/ Roisin O’Connell     Name:   Roisin O’Connell     Title:   Vice
President       By:   /s/ Gregory J. Wiske     Name:   Gregory J. Wiske    
Title:   Vice President  

 

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            AIB DEBT MANAGEMENT LIMITED, as Lender
      By:   /s/ Roisi O’Connell     Name:   Roisi O’Connell     Title:   Vice
President
Investment Advisor to
AIB Debt Management Limited       By:   /s/ Gregory J. Wiske     Name:   Gregory
J. Wiske     Title:   Vice President
Investment Advisor to
AIB Debt Management Limited      

 

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            BANK OF COMMUNICATIONS, as Lender
      By:   /s/ Shelley He     Name:   Shelley He     Title:   Deputy General
Manager    

 

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The Guarantors hereby consent and agree to this Amendment as of the date hereof
and reaffirm their obligations under the Guarantee and Collateral Agreement, the
Guarantee and the other Loan Documents to which they are party.

            LIN TV CORP.
      By:   /s/ Vincent L. Sadusky     Name:   Vincent L. Sadusky     Title:  
CFO & Treasurer    

            AIRWAVES, INC.
KXAN, INC.
KXTX HOLDINGS, INC.
LINBENCO, INC.
LIN SPORTS, INC.
LIN TELEVISION OF SAN JUAN, INC.
LIN TELEVISION OF TEXAS, INC.
NORTH TEXAS BROADCASTING CORP.
PRIMELAND TELEVISION, INC.
TVL BROADCASTING, INC.
WAPA AMERICA, INC.
WOOD TELEVISION, INC.
WNJX-TV INC.
WTNH BROADCASTING, INC.
      By:   /s/ Vincent L. Sadusky       Name:   Vincent L. Sadusky     Title:  
CFO & Treasurer    

            INDIANA BROADCASTING, LLC
LIN AIRTIME, LLC
LIN OF ALABAMA, LLC
LIN OF COLORADO, LLC
LIN OF NEW MEXICO, LLC
LIN OF WISCONSIN, LLC
PROVIDENCE BROADCASTING, LLC
WAVY BROADCASTING, LLC
WIVB BROADCASTING, LLC
WOOD LICENSE CO., LLC
WWLP BROADCASTING, LLC
      By:   LIN TELEVISION CORPORATION, their managing member              
By:   /s/ Vincent L. Sadusky     Name:   Vincent L. Sadusky     Title:   CFO &
Treasurer  

 

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            TVL BROADCASTING OF RHODE ISLAND, LLC
WDTN BROADCASTING, LLC
WUPW BROADCASTING, LLC
WWHO BROADCASTING, LLC
      By:   TVL BROADCASTING, INC., their managing member                       
      By:   /s/ Vincent L. Sandusky     Name:   Vincent L. Sandusky     Title:  
Vice President
CFO & Treasurer    

            TELEVICENTRO OF PUERTO RICO, LLC
      By:   LIN TELEVISION OF SAN JUAN, its managing member                    
          By:   /s/ Vincent L. Sandusky     Name:   Vincent L. Sandusky    
Title:   Vice President
CFO & Treasurer    

            LIN TELEVISION OF TEXAS, L.P.
      By:   LIN TELEVISION OF TEXAS, INC., its general partner             

                  By:   /s/ Vincent L. Sandusky     Name:   Vincent L. Sandusky
    Title:   Vice President
CFO & Treasurer