Exhibit 10.1

Execution Version

SECOND AMENDMENT AND CONFIRMATION AGREEMENT

This   SECOND   AMENDMENT   AND   CONFIRMATION   AGREEMENT  (this “Agreement”)
is entered into as of April 14, 2017, among ATN INTERNATIONAL, INC. (f/k/a
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 (collectively, the “Consenting Lenders”).

RECITALS

WHEREAS, Borrower, the Guarantors and the Lenders (as defined therein) have
entered into that certain Fourth Amended and Restated Credit Agreement, dated as
of December 19, 2014, as amended by that certain Amendment, Consent and
Confirmation Agreement, dated as  of January 11, 2016, by and among Borrower,
Administrative Agent, the guarantors party thereto and the lenders party thereto
(as so amended and as amended, modified, supplemented, extended or restated from
time to time, the “Credit Agreement”); and

WHEREAS, Borrower has requested and the Consenting Lenders, in their capacity as
Requisite Lenders under the Credit Agreement, have agreed, subject to the terms
and conditions provided herein, to certain amendments with respect to the Loan
Documents as more fully described herein.

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

SECTION 1. Defined Terms. 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,
warranties and affirmations of Borrower and the Guarantors contained in this
Agreement and in connection with the request of Borrower for the amendments
provided herein and subject to the effectiveness of this Agreement as described
below, Subsection 10.1 of the Credit Agreement is hereby amended as set forth
below:

(A)     The defined terms “KeyTech” and “KeyTech Subsidiaries” are hereby
deleted in their entirety.

(B)     The following definitions are added or amended and restated to read in
their entirety as follows:

 

 

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Second Amendment and Confirmation Agreement/ATN International, Inc.

“HSBC Indebtedness” means (i) the Indebtedness incurred by One Communications
and/or any of the One Communications Subsidiaries from time to time (x) pursuant
to the HSBC Loan Documents, as amended, modified, supplemented, extended or
restated from time to time, in an aggregate principal amount (excluding, for the
avoidance of doubt, obligations with respect to interest rate protection and
similar agreements) at any one time outstanding not to exceed $50,000,000 and
(y) in connection with any overdraft or similar facilities in favor of HSBC and
any interest rate protection and similar agreements entered into in connection
therewith, as amended, modified, supplemented, extended or restated from time to
time, in an aggregate principal amount (excluding, for the avoidance of doubt,
obligations with respect to interest rate protection and similar agreements) at
any one time outstanding not to exceed $10,000,000, and (ii) any modification,
replacement, refinancing, refunding, renewal or extension of any Indebtedness
specified in subclause (i) above; provided that (x) the aggregate principal
amount of any such Indebtedness does not exceed the aggregate  principal amount
of such Indebtedness which could be incurred pursuant to subclause (i) above
immediately prior to such modification, replacement, refinancing, refunding,
renewal or extension, except by an amount (which amount shall in no event exceed
$3,000,000) equal to the unpaid accrued interest and premium thereon as of the
date of such modification, replacement, refinancing, refunding, renewal or
extension plus reasonable legal fees and expenses and upfront, structuring,
arrangement or similar fees or original issue discount paid or incurred as of
the date of such modification, replacement, refinancing, refunding, renewal or
extension in connection with such modification, replacement, refinancing,
refunding, renewal or extension and (y) the direct and contingent obligors with
respect to such Indebtedness include only One Communications and/or any One
Communications Subsidiaries.

“HSBC Loan Agreement” means the Amended and Restated Facility Agreement, as
amended, modified, supplemented, extended or restated from time to time, among
One Communications, certain One Communications Subsidiaries from time to time
and HSBC, dated as of April 14, 2017.

“One Communications” means One Communications Ltd. (f/k/a KeyTech Limited), a
Bermuda limited liability company.

“One Communications Subsidiaries” means the direct and indirect Subsidiaries of
One Communications.

SECTION 3.  No Novation.  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. On and after the
effectiveness of this Agreement,  each reference in the Credit Agreement to
“this Agreement”, “hereunder”, “hereof” or
words of like import referring to the Credit Agreement, and each reference in the other

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Second Amendment and Confirmation Agreement/ATN International, Inc.

Loan Documents to “the Credit Agreement”, “thereunder”, “thereof” or words of
like import referring to the “Credit Agreement”, shall mean and be a reference
to the Credit Agreement, as amended by this Agreement.

SECTION 4. Representations and Warranties. 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, except as such enforcement
may be limited by bankruptcy, insolvency, reorganization, moratorium or similar
state or federal debtor relief laws from time to time in effect which affect the
enforcement of creditors’ rights in general and general principles of equity.

(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,

(1)     require any Governmental Approval (except as previously obtained) or
violate any Applicable Law relating to such Loan Party;

(2)     materially conflict with, result in a material breach of or constitute a
material default under the organizational documents of such Loan Party;

(3)     conflict with, result in a breach of or constitute a default under any
Governmental Approval relating to such Person except as would not reasonably be
expected to have a Material Adverse Effect; or

(4)     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, correct and complete in all material respects on and as
of the date hereof to the same extent as though made on and as of the date
hereof, except for any representation or warranty limited by its terms to a
specific date.

(D)      No event shall have occurred and be continuing that constitutes an
Event of Default or a Default.

SECTION 5. Borrower Confirmations. 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 as amended hereby.

SECTION 6. Guarantor Confirmations. 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,

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Second Amendment and Confirmation Agreement/ATN International, Inc.

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 as amended hereby.

SECTION 7. Effectiveness of this Agreement. This Agreement shall  be  effective
only upon (i) receipt by Administrative Agent of an execution counterpart hereto
signed by Borrower, each Guarantor, and the Requisite Lenders, and (ii) payment
by Borrower to Administrative Agent, on behalf of and for the benefit of the
Consenting Lenders, of an amendment fee equal to $2,500 for each
Consenting Lender.

SECTION 8. Costs and Expenses. Borrower agrees to pay to Administrative Agent,
on demand, all reasonable and documented out-of-pocket costs and expenses
incurred by Administrative Agent, including, without limitation, the reasonable
and documented fees and expenses of one counsel retained by Administrative
Agent, in connection with the negotiation, preparation, execution and delivery
of this Agreement  and all other instruments and documents contemplated hereby.

SECTION 9. Counterparts. 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. Delivery of
an executed counterpart of a signature page of this Agreement by facsimile or in
electronic (i.e., “pdf” or “tif”) format shall be effective as delivery of a
manually executed counterpart of this Agreement.

SECTION 10. Governed under Provisions of Credit Agreement. 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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Second Amendment and Confirmation Agreement/ATN International, Inc.

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

 

 

 

BORROWER:

 

 

ATN INTERNATIONAL,INC., formerly known as

 

ATLANTIC TELE-NETWORK, INC.

 

 

 

 

 

By:

/s/ Justin Benincasa

 

 

 

GUARANTORS:

 

 

 

COMMNET WIRELESS, LLC

 

COMMNET FOUR CORNERS, LLC

 

COMMNET OF ARIZONA, L.L.C.

 

GILA COUNTY WIRELESS, LLC

 

EXCOMM, L.L.C.

 

COMMNET OF NEVADA, LLC

 

TISDALE NEBRASKA, LLC

 

TISDALE TELEPHONE COMPANY, LLC

 

COMMNET OF GEORGIA, LLC

 

CHOICE COMMUNICATIONS, LLC

 

COMMNET NEWCO, LLC

 

COMMNET OF TEXAS, LLC

 

ESSEXTEL, INC.

 

 

 

By:

/s/ Justin Benincasa

 

 

 

 

 

SAL SPECTRUM LLC

 

By:

ATN International, Inc., its Sole Member

 

 

 

 

By:

/s/ Justin Benincasa

 

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COBANK, ACB, as Administrative Agent and as a Lender

 

 

 

 

 

By:

/s/ Gary Franke

 

 

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THE BANK OF NOVA SCOTIA, as a Lender

 

 

 

 

 

By:

/s/ Laura Gimena

 

 

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FIFTH THIRD BANK,  as a Lender

 

 

 

 

 

By:

/s/ Neil Kiernan

 

 

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MUFG UNION BANK, N.A., as a Lender

 

 

 

 

 

By:

/s/ Ola Anderssen

 

 

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AGFIRST FARM CREDIT BANK, as  a Voting Participant

 

 

 

 

 

By:

/s/ Leighton McLendon

 

 

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AMERICAN AG CREDIT, FLCA, as  a Voting Participant

 

 

 

 

 

By:

/s/ Bradley K. Leafgren

 

 

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FARM CREDIT EAST, ACA, as a Voting Participant

 

 

 

 

 

By:

/s/ Kerri Sears

 

 

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FARM CREDIT WEST, FLCA, as a Voting Participant

 

 

 

 

 

By:

/s/ Ben Madonna

 

 

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FARM CREDIT BANK OF TEXAS,  as a Voting Participant

 

 

 

 

 

By:

/s/ Nicholas King

 

 

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NORTHWEST FARM CREDIT SERVICES, FLCA, as a Voting Participant

 

 

 

 

 

By:

/s/ Jeremy A. Roewe

 

 

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