nts_ex10150.htm


EXHIBIT 10.150


 


AMENDMENT NO. 2 TO


THE TERM LOAN, GUARANTEE AND SECURITY AGREEMENT







This AMENDMENT NO. 2 dated as of August 9, 2012 (this “Amendment”) to the Term Loan, Guarantee and Security Agreement dated as of October 6, 2011 as amend by that certain Amended & Restated Consent, Waiver & Amendment Agreement dated as of November 1, 2011 and by Amendment No. 1 dated as of June 22, 2012 (as so amended, the “Existing Credit Agreement”, and as amended by this Amendment and as the same may be further amended, supplemented or otherwise modified from time to time, the “Credit Agreement”) is agreed among NTS INC. (f/k/a Xfone, Inc.), a Nevada corporation, XFONE USA, INC., a Mississippi corporation, NTS COMMUNICATIONS, INC., a Texas corporation, GULF COAST UTILITIES, INC., a Mississippi corporation, EXPETEL COMMUNICATIONS, INC., a Mississippi corporation, NTS CONSTRUCTION COMPANY, a Texas corporation, GAREY M. WALLACE COMPANY, INC., a Texas corporation, MIDCOM OF ARIZONA, INC., an Arizona corporation, COMMUNICATIONS BROKERS, INC., a Texas corporation, and NTS MANAGEMENT COMPANY, LLC, a Texas limited liability company (collectively referred to herein as the “Borrower”), the other Credit Parties signatory thereto, and ICON AGENT, LLC, a Delaware limited liability company, as agent (in such capacity, “Agent”) for the several financial institutions from time to time party to the Credit Agreement (each herein referred to as a “Lender” and collectively, the “Lenders”).


 


The Borrower, the other Credit Parties, the Lenders and Agent each hereby agree as follows:


 


1. Defined Terms.  All capitalized terms used but not otherwise defined herein have the meanings assigned to them in the Existing Credit Agreement.


 


2. Amendment


 


A. Schedule B to the Existing Credit Agreement is hereby deleted in its entirety and replaced with the attached Exhibit A.


 


B. Schedule 1 to the Closing Date Note in favor of ICON ECI Fund Fifteen, L.P. is hereby deleted in its entirety and replaced by Schedule 1 attached hereto as Exhibit B.


 


C. Schedule 1 to the Closing Date Note in favor of Hardwood Partners, LLC, is hereby deleted in its entirety and is replaced by Schedule 1 attached hereto as Exhibit C


 


D. Exhibit M to the Existing Credit Agreement is hereby deleted in its entirety and replaced by the attached Exhibit D.


 


3. Loan Document.  This Amendment is designated a Loan Document by Agent.


 


4. Full Force and Effect.  Except as expressly amended hereby, the Credit Agreement and the other Loan Documents shall continue unmodified and in full force and effect in accordance with the provisions thereof on the date hereof and each Credit Party reaffirms all of its obligations under the Credit Agreement and the other Loan Documents after giving effect to this Amendment.  This Amendment shall be limited precisely as drafted and shall not imply an obligation on the Agent or any Lender to consent to any matter on any future occasion. As used in the Credit Agreement, the terms “Agreement,” “this Agreement,” “this Credit Agreement,” “herein,” “hereafter,” “hereto,” “hereof” and words of similar import shall mean, unless the context otherwise requires, the Credit Agreement as amended by this Amendment.


 




  





1











  






 


5. CHOICE OF LAW.  THIS AMENDMENT SHALL IN ALL RESPECTS BE CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY, THE LAWS OF THE STATE OF NEW YORK WHICH ARE APPLICABLE TO CONTRACTS MADE AND TO BE PERFORMED WHOLLY WITHIN SUCH STATE.


 


6. Counterparts.  This Amendment may be executed in one or more counterparts, each of which shall constitute an original, but all of which when taken together shall constitute but one instrument.


 


7. Headings.  The headings of this Amendment are for the purposes of reference only and shall not affect the construction of this Amendment.


 


[Signature pages follow]


 


 


 


 


 


 


 




  





2











  






 


                      IN WITNESS WHEREOF, this Amendment No. 2 to the Loan, Guarantee and Security Agreement has been duly executed as of the date first written above.


 



 






	NTS, INC. (f/k/a/ Xfone, Inc.), as a Guarantor 	 	NTS CONSTRUCTION COMPANY, as Borrower
	and Grantor	 	and Grantor
	 	 	 	 	 
	By:   	/s/ Guy Nissenson	 	By:   	/s/ Jerry E. Hoover
	Name: 	

Guy Nissenson

	 	Name: 	

Jerry E. Hoover


	Title:  	

CEO

	 	Title:  	

Treasurer


	 	 	 	 	 
	XFONE USA, INC., as Borrower and	 	GAREY M. WALLACE COMPANY, INC., as Borrower
	Grantor	 	and Grantor
	 	 	 	 	 
	By:  	/s/ Guy Nissenson	 	By:  	/s/ Jerry E. Hoover
	Name: 	

Guy Nissenson

	 	Name: 	

Jerry E. Hoover


	Title:   	

CEO

	 	Title:   	

Treasurer


	 	 	 	 	 
	NTS COMMUNICATIONS, INC., as Borrower 	 	MIDCOM OF ARIZONA, INC., as Borrower 
	and Grantor	 	and Grantor
	 	 	 	 	 
	By:  	/s/ Guy Nissenson	 	By:  	/s/ Jerry E. Hoover
	Name: 	

Guy Nissenson

	 	Name: 	

Jerry E. Hoover


	Title: 	

CEO

	 	Title: 	

Treasurer


	 	 	 	 	 
	GULF COAST UTILITIES, INC., as Borrower 	 	COMMUNICATIONS BROKERS, INC., as Borrower 
	and Grantor	 	and Grantor
	 	 	 	 	 
	By:  	/s/ Jerry E. Hoover	 	By:  	/s/ Jerry E. Hoover
	Name: 	

Jerry E. Hoover

	 	Name: 	
Jerry E. Hoover


	Title:	

Treasurer

	 	Title:	

Treasurer


	 	 	 	 	 
	EXPETEL COMMUNICATIONS, INC., as Borrower 	 	NTS TELEPHONE COMPANY, LLC, as 
	and Grantor	 	Government Funded SPE and Credit Party
	 	 	 	 	 
	By:  	/s/ Jerry E. Hoover	 	By:  	/s/ Jerry E. Hoover
	Name:	

Jerry E. Hoover

	 	Name:	

Jerry E. Hoover


	Title: 	

Treasurer

	 	Title: 	

Manager


	 	 	 	 	 
	PRIDE NETWORK, INC., as Government 	 	N.T.S. MANAGEMENT COMPANY, L.L.C., 
	Funded SPE and Credit Party	 	as Borrower and Grantor
	 	 	 	 	 
	By:  	/s/ Jerry E. Hoover	 	By:  	/s/ Jerry E. Hoover
	Name: 	

Jerry E. Hoover

	 	Name: 	

Jerry E. Hoover


	Title:    	

Treasurer

	 	Title:    	

Manager







 




  





3











  
















	 	
ICON AGENT, LLC, as Agent for the Lenders


	 	 
	 	By:  IEMC Corp., its Manager
	 	 	 
	 	By:   	 
/s/ Michael Reisner


	 	Name: 	
Michael Reisner


	 	Title:  	 
Co-President & Co-CEO


	 	 	 
	 	
ICON ECI PARTNERS, L.P., as a Lender


	 	 
	 	
By:  ICON ECI GP, LLC, its General Partner


	 	 	 
	 	By:  	 
/s/ Michael Reisner


	 	Name: 	 
Michael Reisner


	 	Title:   	 
Co-President & Co-CEO


	 	 	 
	 	
ICON Equipment and Corporate Infrastructure Fund Fourteen, L.P., as a Lender


	 	 
	 	
By:  ICON GP 14, LLC, its General Partner


	 	 	 
	 	By:  	 
/s/ Michael Reisner


	 	Name: 	 
Michael Reisner


	 	Title: 	 
Co-President & Co-CEO


	 	 	 
	 	
ICON ECI FUND FIFTEEN, L.P., as a Lender


	 	 
	 	
By:  ICON GP 15, LLC, its General Partner


	 	 	 
	 	By:  	 
/s/ Michael Reisner


	 	Name: 	 
Michael Reisner


	 	Title:	 
Co-President & Co-CEO


	 	 	 
	 	
HARDWOOD PARTNERS, LLC, as a Lender


	 	 	 
	 	By:  	 
/s/ John Koren


	 	Name:	 
John Koren


	 	Title: 	 
Manager







 








  





4











  






 


Exhibit  A







SCHEDULE B







CLOSING DATE TERM LOAN COMMITMENTS








	
Lender

	 	
Closing Date Term Loan Commitments

	 
	 	 	 	 
	
ICON ECI Fund Fifteen, L.P.

	 	$	6,850,000	 
	
ICON ECI Partners, L.P.

	 	$	150,000	 
	
Hardwood Partners, LLC

	 	$	500,000	 










  AMORTIZATION OF THE LOAN


 


The Loan will amortize in sixty-eight (68) monthly payments as follows:








	
Payment Date

	 	
Interest

	 	 	
Principal

	 	 	
Balance o/s

	 
	
01-Nov-11

	 	 	 	 	 	 	 	$	7,500,000	 
	
01-Dec-11

	 	$	79,687.50	 	 	$	-	 	 	$	7,500,000	 
	
01-Jan-12

	 	$	82,343.75	 	 	$	-	 	 	$	7,500,000	 
	
01-Feb-12

	 	$	82,343.75	 	 	$	-	 	 	$	7,500,000	 
	
01-Mar-12

	 	$	77,031.25	 	 	$	-	 	 	$	7,500,000	 
	
01-Apr-12

	 	$	82,343.75	 	 	$	-	 	 	$	7,500,000	 
	
01-May-12

	 	$	79,687.50	 	 	$	-	 	 	$	7,500,000	 
	
01-Jun-12

	 	$	82,343.75	 	 	$	-	 	 	$	7,500,000	 
	
01-Jul-12

	 	$	79,687.50	 	 	$	-	 	 	$	7,500,000	 
	
01-Aug-12

	 	$	82,343.75	 	 	$	-	 	 	$	7,500,000	 
	
01-Sep-12

	 	$	82,343.75	 	 	$	-	 	 	$	7,500,000	 
	
01-Oct-12

	 	$	79,687.50	 	 	$	-	 	 	$	7,500,000	 
	
01-Nov-12

	 	$	82,343.75	 	 	$	-	 	 	$	7,500,000	 
	
01-Dec-12

	 	$	79,687.50	 	 	$	-	 	 	$	7,500,000	 
	
01-Jan-13

	 	$	82,343.75	 	 	$	-	 	 	$	7,500,000	 
	
01-Feb-13

	 	$	82,343.75	 	 	$	-	 	 	$	7,500,000	 
	
01-Mar-13

	 	$	74,375.00	 	 	$	-	 	 	$	7,500,000	 
	
01-Apr-13

	 	$	82,343.75	 	 	$	-	 	 	$	7,500,000	 
	
01-May-13

	 	$	79,687.50	 	 	$	-	 	 	$	7,500,000	 
	
01-Jun-13

	 	$	82,343.75	 	 	$	-	 	 	$	7,500,000	 
	
01-Jul-13

	 	$	79,687.50	 	 	$	-	 	 	$	7,500,000	 
	
01-Aug-13

	 	$	82,343.75	 	 	$	93,750	 	 	$	7,406,250	 
	
01-Sep-13

	 	$	81,314.45	 	 	$	93,750	 	 	$	7,312,500	 
	
01-Oct-13

	 	$	77,695.31	 	 	$	93,750	 	 	$	7,218,750	 
	
01-Nov-13

	 	$	79,255.86	 	 	$	93,750	 	 	$	7,125,000	 
	
01-Dec-13

	 	$	75,703.13	 	 	$	93,750	 	 	$	7,031,250	 
	
01-Jan-14

	 	$	77,197.27	 	 	$	93,750	 	 	$	6,937,500	 



 




  





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Payment Date

	 	
Interest

	 	 	
Principal

	 	 	
Balance o/s

	 
	 	 	 	 	 	 	 	 	 	 
	
01-Feb-14

	 	$	76,167.97	 	 	$	93,750	 	 	$	6,843,750	 
	
01-Mar-14

	 	$	67,867.19	 	 	$	93,750	 	 	$	6,750,000	 
	
01-Apr-14

	 	$	74,109.38	 	 	$	93,750	 	 	$	6,656,250	 
	
01-May-14

	 	$	70,722.66	 	 	$	93,750	 	 	$	6,562,500	 
	
01-Jun-14

	 	$	72,050.78	 	 	$	93,750	 	 	$	6,468,750	 
	
01-Jul-14

	 	$	68,730.47	 	 	$	93,750	 	 	$	6,375,000	 
	
01-Aug-14

	 	$	69,992.19	 	 	$	93,750	 	 	$	6,281,250	 
	
01-Sep-14

	 	$	68,962.89	 	 	$	93,750	 	 	$	6,187,500	 
	
01-Oct-14

	 	$	65,742.19	 	 	$	93,750	 	 	$	6,093,750	 
	
01-Nov-14

	 	$	66,904.30	 	 	$	93,750	 	 	$	6,000,000	 
	
01-Dec-14

	 	$	63,750.00	 	 	$	93,750	 	 	$	5,906,250	 
	
01-Jan-15

	 	$	64,845.70	 	 	$	93,750	 	 	$	5,812,500	 
	
01-Feb-15

	 	$	63,816.41	 	 	$	93,750	 	 	$	5,718,750	 
	
01-Mar-15

	 	$	56,710.94	 	 	$	93,750	 	 	$	5,625,000	 
	
01-Apr-15

	 	$	61,757.81	 	 	$	93,750	 	 	$	5,531,250	 
	
01-May-15

	 	$	58,769.53	 	 	$	93,750	 	 	$	5,437,500	 
	
01-Jun-15

	 	$	59,699.22	 	 	$	93,750	 	 	$	5,343,750	 
	
01-Jul-15

	 	$	56,777.34	 	 	$	93,750	 	 	$	5,250,000	 
	
01-Aug-15

	 	$	57,640.63	 	 	$	93,750	 	 	$	5,156,250	 
	
01-Sep-15

	 	$	56,611.33	 	 	$	93,750	 	 	$	5,062,500	 
	
01-Oct-15

	 	$	53,789.06	 	 	$	93,750	 	 	$	4,968,750	 
	
01-Nov-15

	 	$	54,552.73	 	 	$	93,750	 	 	$	4,875,000	 
	
01-Dec-15

	 	$	51,796.88	 	 	$	93,750	 	 	$	4,781,250	 
	
01-Jan-16

	 	$	52,494.14	 	 	$	93,750	 	 	$	4,687,500	 
	
01-Feb-16

	 	$	51,464.84	 	 	$	93,750	 	 	$	4,593,750	 
	
01-Mar-16

	 	$	47,181.64	 	 	$	93,750	 	 	$	4,500,000	 
	
01-Apr-16

	 	$	49,406.25	 	 	$	93,750	 	 	$	4,406,250	 
	
01-May-16

	 	$	46,816.41	 	 	$	93,750	 	 	$	4,312,500	 
	
01-Jun-16

	 	$	47,347.66	 	 	$	93,750	 	 	$	4,218,750	 
	
01-Jul-16

	 	$	44,824.22	 	 	$	93,750	 	 	$	4,125,000	 
	
01-Aug-16

	 	$	45,289.06	 	 	$	93,750	 	 	$	4,031,250	 
	
01-Sep-16

	 	$	44,259.77	 	 	$	93,750	 	 	$	3,937,500	 
	
01-Oct-16

	 	$	41,835.94	 	 	$	93,750	 	 	$	3,843,750	 
	
01-Nov-16

	 	$	42,201.17	 	 	$	93,750	 	 	$	3,750,000	 
	
01-Dec-16

	 	$	39,843.75	 	 	$	93,750	 	 	$	3,656,250	 
	
01-Jan-17

	 	$	40,142.58	 	 	$	93,750	 	 	$	3,562,500	 
	
01-Feb-17

	 	$	39,113.28	 	 	$	93,750	 	 	$	3,468,750	 
	
01-Mar-17

	 	$	34,398.44	 	 	$	93,750	 	 	$	3,375,000	 
	
01-Apr-17

	 	$	37,054.69	 	 	$	93,750	 	 	$	3,281,250	 
	
01-May-17

	 	$	34,863.28	 	 	$	93,750	 	 	$	3,187,500	 
	
01-Jun-17

	 	$	34,996.09	 	 	$	93,750	 	 	$	3,093,750	 
	
01-Jul-17

	 	$	32,871.09	 	 	$	3,093,750	 	 	$	0	 







 




  





6











  






 


AMENDMENT DATE TERM LOAN COMMITMENTS








	
Lender

	 	
Amendment Date Term Loan Commitments

	 
	 	 	 	 
	
ICON Equipment and Corporate Infrastructure Fund Fourteen, L.P.

	 	$	1,855,000	 
	
ICON ECI Fund Fifteen, L.P.

	 	$	1,540,000	 
	
Hardwood Partners, LLC

	 	$	105,000	 










AMORTIZATION OF THE LOAN


 


The Loan will amortize in sixty (60) monthly payments as follows:









	
Payment Date

	 	
Interest

	 	 	
Principal

	 	 	
Balance o/s

	 
	
01-Jul-12

	 	$	-	 	 	$	-	 	 	$	3,500,000	 
	
01-Aug-12

	 	$	38,427	 	 	$	-	 	 	$	3,500,000	 
	
01-Sep-12

	 	$	38,427	 	 	$	-	 	 	$	3,500,000	 
	
01-Oct-12

	 	$	37,188	 	 	$	-	 	 	$	3,500,000	 
	
01-Nov-12

	 	$	38,427	 	 	$	-	 	 	$	3,500,000	 
	
01-Dec-12

	 	$	37,188	 	 	$	-	 	 	$	3,500,000	 
	
01-Jan-13

	 	$	38,427	 	 	$	-	 	 	$	3,500,000	 
	
01-Feb-13

	 	$	38,427	 	 	$	-	 	 	$	3,500,000	 
	
01-Mar-13

	 	$	34,708	 	 	$	-	 	 	$	3,500,000	 
	
01-Apr-13

	 	$	38,427	 	 	$	-	 	 	$	3,500,000	 
	
01-May-13

	 	$	37,188	 	 	$	-	 	 	$	3,500,000	 
	
01-Jun-13

	 	$	38,427	 	 	$	-	 	 	$	3,500,000	 
	
01-Jul-13

	 	$	37,188	 	 	$	-	 	 	$	3,500,000	 
	
01-Aug-13

	 	$	38,427	 	 	$	43,750	 	 	$	3,456,250	 
	
01-Sep-13

	 	$	37,947	 	 	$	43,750	 	 	$	3,412,500	 
	
01-Oct-13

	 	$	36,258	 	 	$	43,750	 	 	$	3,368,750	 
	
01-Nov-13

	 	$	36,986	 	 	$	43,750	 	 	$	3,325,000	 
	
01-Dec-13

	 	$	35,328	 	 	$	43,750	 	 	$	3,281,250	 
	
01-Jan-14

	 	$	36,025	 	 	$	43,750	 	 	$	3,237,500	 
	
01-Feb-14

	 	$	35,545	 	 	$	43,750	 	 	$	3,193,750	 
	
01-Mar-14

	 	$	31,671	 	 	$	43,750	 	 	$	3,150,000	 
	
01-Apr-14

	 	$	34,584	 	 	$	43,750	 	 	$	3,106,250	 
	
01-May-14

	 	$	33,004	 	 	$	43,750	 	 	$	3,062,500	 
	
01-Jun-14

	 	$	33,624	 	 	$	43,750	 	 	$	3,018,750	 
	
01-Jul-14

	 	$	32,074	 	 	$	43,750	 	 	$	2,975,000	 
	
01-Aug-14

	 	$	32,663	 	 	$	43,750	 	 	$	2,931,250	 
	
01-Sep-14

	 	$	32,183	 	 	$	43,750	 	 	$	2,887,500	 
	
01-Oct-14

	 	$	30,680	 	 	$	43,750	 	 	$	2,843,750	 





 




  





7











  






 



	Payment Date	 	
Interest

	 	 	
Principal

	 	 	
Balance o/s

	 
	 	 	 	 	 	 	 	 	 	 
	
01-Nov-14

	 	$	31,222	 	 	$	43,750	 	 	$	2,800,000	 
	
01-Dec-14

	 	$	29,750	 	 	$	43,750	 	 	$	2,756,250	 
	
01-Jan-15

	 	$	30,261	 	 	$	43,750	 	 	$	2,712,500	 
	
01-Feb-15

	 	$	29,781	 	 	$	43,750	 	 	$	2,668,750	 
	
01-Mar-15

	 	$	26,465	 	 	$	43,750	 	 	$	2,625,000	 
	
01-Apr-15

	 	$	28,820	 	 	$	43,750	 	 	$	2,581,250	 
	
01-May-15

	 	$	27,426	 	 	$	43,750	 	 	$	2,537,500	 
	
01-Jun-15

	 	$	27,860	 	 	$	43,750	 	 	$	2,493,750	 
	
01-Jul-15

	 	$	26,496	 	 	$	43,750	 	 	$	2,450,000	 
	
01-Aug-15

	 	$	26,899	 	 	$	43,750	 	 	$	2,406,250	 
	
01-Sep-15

	 	$	26,419	 	 	$	43,750	 	 	$	2,362,500	 
	
01-Oct-15

	 	$	25,102	 	 	$	43,750	 	 	$	2,318,750	 
	
01-Nov-15

	 	$	25,458	 	 	$	43,750	 	 	$	2,275,000	 
	
01-Dec-15

	 	$	24,172	 	 	$	43,750	 	 	$	2,231,250	 
	
01-Jan-16

	 	$	24,497	 	 	$	43,750	 	 	$	2,187,500	 
	
01-Feb-16

	 	$	24,017	 	 	$	43,750	 	 	$	2,143,750	 
	
01-Mar-16

	 	$	22,018	 	 	$	43,750	 	 	$	2,100,000	 
	
01-Apr-16

	 	$	23,056	 	 	$	43,750	 	 	$	2,056,250	 
	
01-May-16

	 	$	21,848	 	 	$	43,750	 	 	$	2,012,500	 
	
01-Jun-16

	 	$	22,096	 	 	$	43,750	 	 	$	1,968,750	 
	
01-Jul-16

	 	$	20,918	 	 	$	43,750	 	 	$	1,925,000	 
	
01-Aug-16

	 	$	21,135	 	 	$	43,750	 	 	$	1,881,250	 
	
01-Sep-16

	 	$	20,655	 	 	$	43,750	 	 	$	1,837,500	 
	
01-Oct-16

	 	$	19,523	 	 	$	43,750	 	 	$	1,793,750	 
	
01-Nov-16

	 	$	19,694	 	 	$	43,750	 	 	$	1,750,000	 
	
01-Dec-16

	 	$	18,594	 	 	$	43,750	 	 	$	1,706,250	 
	
01-Jan-17

	 	$	18,733	 	 	$	43,750	 	 	$	1,662,500	 
	
01-Feb-17

	 	$	18,253	 	 	$	43,750	 	 	$	1,618,750	 
	
01-Mar-17

	 	$	16,053	 	 	$	43,750	 	 	$	1,575,000	 
	
01-Apr-17

	 	$	17,292	 	 	$	43,750	 	 	$	1,531,250	 
	
01-May-17

	 	$	16,270	 	 	$	43,750	 	 	$	1,487,500	 
	
01-Jun-17

	 	$	16,332	 	 	$	43,750	 	 	$	1,443,750	 
	
01-Jul-17

	 	$	15,340	 	 	$	1,443,750	 	 	$	0	 














  





8











  






 


EXHIBIT B







Schedule 1  to the ICON ECI Fund Fifteen, L.P.


Closing Date Term Loan Note







SCHEDULE 1 TO TERM NOTE DATED OCTOBER 27, 2011







IN THE ORIGINAL PRINCIPAL AMOUNT OF $6,850,000.00







MADE BY


XFONE USA, INC., NTS COMMUNICATIONS, INC., GULF COAST UTILITIES, INC., EXPETEL COMMUNICATIONS, INC., NTS CONSTRUCTION COMPANY, GAREY M. WALLACE COMPANY, INC., MIDCOM OF ARIZONA, INC., COMMUNICATIONS BROKERS, INC. AND N.T.S. MANAGEMENT COMPANY, L.L.C.







Amortization Schedule







The outstanding principal and accrued interest balance of the Term Loan evidenced by this Term Note shall amortize in 68 consecutive monthly installments in the amounts and on the dates set forth below with such payments due on the first day of each calendar month commencing on the first day of the calendar month following the Closing Date.  The remaining outstanding principal and accrued interest balance (if any) of this Term Note shall be paid on the Maturity Date of such Term Loan.








	
Payment Date

	 	
Interest

	 	 	
Principal

	 	 	
Balance o/s

	 
	
01-Nov-11

	 	$	-	 	 	$	-	 	 	$	6,850,000	 
	
01-Dec-11

	 	$	72,781	 	 	$	-	 	 	$	6,850,000	 
	
01-Jan-12

	 	$	75,207	 	 	$	-	 	 	$	6,850,000	 
	
01-Feb-12

	 	$	75,207	 	 	$	-	 	 	$	6,850,000	 
	
01-Mar-12

	 	$	70,355	 	 	$	-	 	 	$	6,850,000	 
	
01-Apr-12

	 	$	75,207	 	 	$	-	 	 	$	6,850,000	 
	
01-May-12

	 	$	72,781	 	 	$	-	 	 	$	6,850,000	 
	
01-Jun-12

	 	$	75,207	 	 	$	-	 	 	$	6,850,000	 
	
01-Jul-12

	 	$	72,781	 	 	$	-	 	 	$	6,850,000	 
	
01-Aug-12

	 	$	75,207	 	 	$	-	 	 	$	6,850,000	 
	
01-Sep-12

	 	$	75,207	 	 	$	-	 	 	$	6,850,000	 
	
01-Oct-12

	 	$	72,781	 	 	$	-	 	 	$	6,850,000	 
	
01-Nov-12

	 	$	75,207	 	 	$	-	 	 	$	6,850,000	 
	
01-Dec-12

	 	$	72,781	 	 	$	-	 	 	$	6,850,000	 
	
01-Jan-13

	 	$	75,207	 	 	$	-	 	 	$	6,850,000	 
	
01-Feb-13

	 	$	75,207	 	 	$	-	 	 	$	6,850,000	 
	
01-Mar-13

	 	$	67,929	 	 	$	-	 	 	$	6,850,000	 
	
01-Apr-13

	 	$	75,207	 	 	$	-	 	 	$	6,850,000	 
	
01-May-13

	 	$	72,781	 	 	$	-	 	 	$	6,850,000	 



	
01-Jun-13

	 	$	75,207	 	 	$	-	 	 	$	6,850,000	 
	
01-Jul-13

	 	$	72,781	 	 	$	-	 	 	$	6,850,000	 
	
01-Aug-13

	 	$	75,207	 	 	$	85,625	 	 	$	6,764,375	 
	
01-Sep-13

	 	$	74,267	 	 	$	85,625	 	 	$	6,678,750	 
	
01-Oct-13

	 	$	70,962	 	 	$	85,625	 	 	$	6,593,125	 
	
01-Nov-13

	 	$	72,387	 	 	$	85,625	 	 	$	6,507,500	 
	
01-Dec-13

	 	$	69,142	 	 	$	85,625	 	 	$	6,421,875	 



 




  





9











  






 



	Payment Date	 	
Interest

	 	 	
Principal

	 	 	
Balance o/s

	 
	
01-Jan-14

	 	$	70,507	 	 	$	85,625	 	 	$	6,336,250	 
	
01-Feb-14

	 	$	69,567	 	 	$	85,625	 	 	$	6,250,625	 
	
01-Mar-14

	 	$	61,985	 	 	$	85,625	 	 	$	6,165,000	 
	
01-Apr-14

	 	$	67,687	 	 	$	85,625	 	 	$	6,079,375	 
	
01-May-14

	 	$	64,593	 	 	$	85,625	 	 	$	5,993,750	 
	
01-Jun-14

	 	$	65,806	 	 	$	85,625	 	 	$	5,908,125	 
	
01-Jul-14

	 	$	62,774	 	 	$	85,625	 	 	$	5,822,500	 
	
01-Aug-14

	 	$	63,926	 	 	$	85,625	 	 	$	5,736,875	 
	
01-Sep-14

	 	$	62,986	 	 	$	85,625	 	 	$	5,651,250	 
	
01-Oct-14

	 	$	60,045	 	 	$	85,625	 	 	$	5,565,625	 
	
01-Nov-14

	 	$	61,106	 	 	$	85,625	 	 	$	5,480,000	 
	
01-Dec-14

	 	$	58,225	 	 	$	85,625	 	 	$	5,394,375	 
	
01-Jan-15

	 	$	59,226	 	 	$	85,625	 	 	$	5,308,750	 
	
01-Feb-15

	 	$	58,286	 	 	$	85,625	 	 	$	5,223,125	 
	
01-Mar-15

	 	$	51,796	 	 	$	85,625	 	 	$	5,137,500	 
	
01-Apr-15

	 	$	56,405	 	 	$	85,625	 	 	$	5,051,875	 
	
01-May-15

	 	$	53,676	 	 	$	85,625	 	 	$	4,966,250	 
	
01-Jun-15

	 	$	54,525	 	 	$	85,625	 	 	$	4,880,625	 
	
01-Jul-15

	 	$	51,857	 	 	$	85,625	 	 	$	4,795,000	 
	
01-Aug-15

	 	$	52,645	 	 	$	85,625	 	 	$	4,709,375	 
	
01-Sep-15

	 	$	51,705	 	 	$	85,625	 	 	$	4,623,750	 
	
01-Oct-15

	 	$	49,127	 	 	$	85,625	 	 	$	4,538,125	 
	
01-Nov-15

	 	$	49,825	 	 	$	85,625	 	 	$	4,452,500	 
	
01-Dec-15

	 	$	47,308	 	 	$	85,625	 	 	$	4,366,875	 
	
01-Jan-16

	 	$	47,945	 	 	$	85,625	 	 	$	4,281,250	 
	
01-Feb-16

	 	$	47,005	 	 	$	85,625	 	 	$	4,195,625	 
	
01-Mar-16

	 	$	43,093	 	 	$	85,625	 	 	$	4,110,000	 
	
01-Apr-16

	 	$	45,124	 	 	$	85,625	 	 	$	4,024,375	 
	
01-May-16

	 	$	42,759	 	 	$	85,625	 	 	$	3,938,750	 
	
01-Jun-16

	 	$	43,244	 	 	$	85,625	 	 	$	3,853,125	 
	
01-Jul-16

	 	$	40,939	 	 	$	85,625	 	 	$	3,767,500	 
	
01-Aug-16

	 	$	41,364	 	 	$	85,625	 	 	$	3,681,875	 
	
01-Sep-16

	 	$	40,424	 	 	$	85,625	 	 	$	3,596,250	 
	
01-Oct-16

	 	$	38,210	 	 	$	85,625	 	 	$	3,510,625	 
	
01-Nov-16

	 	$	38,544	 	 	$	85,625	 	 	$	3,425,000	 
	
01-Dec-16

	 	$	36,391	 	 	$	85,625	 	 	$	3,339,375	 
	
01-Jan-17

	 	$	36,664	 	 	$	85,625	 	 	$	3,253,750	 
	
01-Feb-17

	 	$	35,723	 	 	$	85,625	 	 	$	3,168,125	 
	
01-Mar-17

	 	$	31,417	 	 	$	85,625	 	 	$	3,082,500	 
	
01-Apr-17

	 	$	33,843	 	 	$	85,625	 	 	$	2,996,875	 
	
01-May-17

	 	$	31,842	 	 	$	85,625	 	 	$	2,911,250	 
	
01-Jun-17

	 	$	31,963	 	 	$	85,625	 	 	$	2,825,625	 
	
01-Jul-17

	 	$	30,022	 	 	$	2,825,625	 	 	$	0	 














  





10











  






 


Exhibit C







Schedule 1 to the Hardwood Partners, LLC


Closing Date Term Loan Note


 


SCHEDULE 1 TO TERM NOTE DATED OCTOBER 27, 2011


IN THE ORIGINAL PRINCIPAL AMOUNT OF $500,000.00


MADE BY


XFONE USA, INC., NTS COMMUNICATIONS, INC., GULF COAST UTILITIES, INC., EXPETEL COMMUNICATIONS, INC., NTS CONSTRUCTION COMPANY, GAREY M. WALLACE COMPANY, INC., MIDCOM OF ARIZONA, INC., COMMUNICATIONS BROKERS, INC. AND N.T.S. MANAGEMENT COMPANY, L.L.C.







Amortization Schedule


 


The outstanding principal and accrued interest balance of the Term Loan evidenced by this Term Note shall amortize in 68 consecutive monthly installments in the amounts and on the dates set forth below with such payments due on the first day of each calendar month commencing on the first day of the calendar month following the Closing Date.  The remaining outstanding principal and accrued interest balance (if any) of this Term Note shall be paid on the Maturity Date of such Term Loan.








	
Payment Date

	 	
Interest

	 	 	
Principal

	 	 	
Balance o/s

	 
	
01-Nov-11

	 	$	-	 	 	$	-	 	 	$	500,000	 
	
01-Dec-11

	 	$	5,313	 	 	$	-	 	 	$	500,000	 
	
01-Jan-12

	 	$	5,490	 	 	$	-	 	 	$	500,000	 
	
01-Feb-12

	 	$	5,490	 	 	$	-	 	 	$	500,000	 
	
01-Mar-12

	 	$	5,135	 	 	$	-	 	 	$	500,000	 
	
01-Apr-12

	 	$	5,490	 	 	$	-	 	 	$	500,000	 
	
01-May-12

	 	$	5,313	 	 	$	-	 	 	$	500,000	 
	
01-Jun-12

	 	$	5,490	 	 	$	-	 	 	$	500,000	 
	
01-Jul-12

	 	$	5,313	 	 	$	-	 	 	$	500,000	 
	
01-Aug-12

	 	$	5,490	 	 	$	-	 	 	$	500,000	 
	
01-Sep-12

	 	$	5,490	 	 	$	-	 	 	$	500,000	 
	
01-Oct-12

	 	$	5,313	 	 	$	-	 	 	$	500,000	 
	
01-Nov-12

	 	$	5,490	 	 	$	-	 	 	$	500,000	 
	
01-Dec-12

	 	$	5,313	 	 	$	-	 	 	$	500,000	 
	
01-Jan-13

	 	$	5,490	 	 	$	-	 	 	$	500,000	 
	
01-Feb-13

	 	$	5,490	 	 	$	-	 	 	$	500,000	 
	
01-Mar-13

	 	$	4,958	 	 	$	-	 	 	$	500,000	 
	
01-Apr-13

	 	$	5,490	 	 	$	-	 	 	$	500,000	 
	
01-May-13

	 	$	5,313	 	 	$	-	 	 	$	500,000	 
	
01-Jun-13

	 	$	5,490	 	 	$	-	 	 	$	500,000	 
	
01-Jul-13

	 	$	5,313	 	 	$	-	 	 	$	500,000	 
	
01-Aug-13

	 	$	5,490	 	 	$	6,250	 	 	$	493,750	 
	
01-Sep-13

	 	$	5,421	 	 	$	6,250	 	 	$	487,500	 
	
01-Oct-13

	 	$	5,180	 	 	$	6,250	 	 	$	481,250	 
	
01-Nov-13

	 	$	5,284	 	 	$	6,250	 	 	$	475,000	 
	
01-Dec-13

	 	$	5,047	 	 	$	6,250	 	 	$	468,750	 
	
01-Jan-14

	 	$	5,146	 	 	$	6,250	 	 	$	462,500	 
	
01-Feb-14

	 	$	5,078	 	 	$	6,250	 	 	$	456,250	 



 




  





11











  






 



	Payment Date	 	
Interest

	 	 	
Principal

	 	 	
Balance o/s

	 
	
01-Mar-14

	 	$	4,524	 	 	$	6,250	 	 	$	450,000	 
	
01-Apr-14

	 	$	4,941	 	 	$	6,250	 	 	$	443,750	 
	
01-May-14

	 	$	4,715	 	 	$	6,250	 	 	$	437,500	 
	
01-Jun-14

	 	$	4,803	 	 	$	6,250	 	 	$	431,250	 
	
01-Jul-14

	 	$	4,582	 	 	$	6,250	 	 	$	425,000	 
	
01-Aug-14

	 	$	4,666	 	 	$	6,250	 	 	$	418,750	 
	
01-Sep-14

	 	$	4,598	 	 	$	6,250	 	 	$	412,500	 
	
01-Oct-14

	 	$	4,383	 	 	$	6,250	 	 	$	406,250	 
	
01-Nov-14

	 	$	4,460	 	 	$	6,250	 	 	$	400,000	 
	
01-Dec-14

	 	$	4,250	 	 	$	6,250	 	 	$	393,750	 
	
01-Jan-15

	 	$	4,323	 	 	$	6,250	 	 	$	387,500	 
	
01-Feb-15

	 	$	4,254	 	 	$	6,250	 	 	$	381,250	 
	
01-Mar-15

	 	$	3,781	 	 	$	6,250	 	 	$	375,000	 
	
01-Apr-15

	 	$	4,117	 	 	$	6,250	 	 	$	368,750	 
	
01-May-15

	 	$	3,918	 	 	$	6,250	 	 	$	362,500	 
	
01-Jun-15

	 	$	3,980	 	 	$	6,250	 	 	$	356,250	 
	
01-Jul-15

	 	$	3,785	 	 	$	6,250	 	 	$	350,000	 
	
01-Aug-15

	 	$	3,843	 	 	$	6,250	 	 	$	343,750	 
	
01-Sep-15

	 	$	3,774	 	 	$	6,250	 	 	$	337,500	 
	
01-Oct-15

	 	$	3,586	 	 	$	6,250	 	 	$	331,250	 
	
01-Nov-15

	 	$	3,637	 	 	$	6,250	 	 	$	325,000	 
	
01-Dec-15

	 	$	3,453	 	 	$	6,250	 	 	$	318,750	 
	
01-Jan-16

	 	$	3,500	 	 	$	6,250	 	 	$	312,500	 
	
01-Feb-16

	 	$	3,431	 	 	$	6,250	 	 	$	306,250	 
	
01-Mar-16

	 	$	3,145	 	 	$	6,250	 	 	$	300,000	 
	
01-Apr-16

	 	$	3,294	 	 	$	6,250	 	 	$	293,750	 
	
01-May-16

	 	$	3,121	 	 	$	6,250	 	 	$	287,500	 
	
01-Jun-16

	 	$	3,157	 	 	$	6,250	 	 	$	281,250	 
	
01-Jul-16

	 	$	2,988	 	 	$	6,250	 	 	$	275,000	 
	
01-Aug-16

	 	$	3,019	 	 	$	6,250	 	 	$	268,750	 
	
01-Sep-16

	 	$	2,951	 	 	$	6,250	 	 	$	262,500	 
	
01-Oct-16

	 	$	2,789	 	 	$	6,250	 	 	$	256,250	 
	
01-Nov-16

	 	$	2,813	 	 	$	6,250	 	 	$	250,000	 
	
01-Dec-16

	 	$	2,656	 	 	$	6,250	 	 	$	243,750	 
	
01-Jan-17

	 	$	2,676	 	 	$	6,250	 	 	$	237,500	 
	
01-Feb-17

	 	$	2,608	 	 	$	6,250	 	 	$	231,250	 
	
01-Mar-17

	 	$	2,293	 	 	$	6,250	 	 	$	225,000	 
	
01-Apr-17

	 	$	2,470	 	 	$	6,250	 	 	$	218,750	 
	
01-May-17

	 	$	2,324	 	 	$	6,250	 	 	$	212,500	 
	
01-Jun-17

	 	$	2,333	 	 	$	6,250	 	 	$	206,250	 
	
01-Jul-17

	 	$	2,191	 	 	$	206,250	 	 	$	0	 














  





12











  






 


Exhibit D







Schedule 1 to the ICON ECI Partners, L.P.


Closing Date Term Loan Note







SCHEDULE 1 TO TERM NOTE DATED OCTOBER 27, 2011


IN THE ORIGINAL PRINCIPAL AMOUNT OF $150,000.00


MADE BY


XFONE USA, INC., NTS COMMUNICATIONS, INC., GULF COAST UTILITIES, INC., EXPETEL COMMUNICATIONS, INC., NTS CONSTRUCTION COMPANY, GAREY M. WALLACE COMPANY, INC., MIDCOM OF ARIZONA, INC., COMMUNICATIONS BROKERS, INC. AND N.T.S. MANAGEMENT COMPANY, L.L.C.







Amortization Schedule


 


The outstanding principal and accrued interest balance of the Term Loan evidenced by this Term Note shall amortize in 68 consecutive monthly installments in the amounts and on the dates set forth below with such payments due on the first day of each calendar month commencing on the first day of the calendar month following the Closing Date.  The remaining outstanding principal and accrued interest balance (if any) of this Term Note shall be paid on the Maturity Date of such Term Loan.








	
Payment Date

	 	
Interest

	 	 	
Principal

	 	 	
Balance o/s

	 
	
01-Nov-11

	 	 	 	 	 	 	 	$	150,000	 
	
01-Dec-11

	 	$	1,594	 	 	$	-	 	 	$	150,000	 
	
01-Jan-12

	 	$	1,647	 	 	$	-	 	 	$	150,000	 
	
01-Feb-12

	 	$	1,647	 	 	$	-	 	 	$	150,000	 
	
01-Mar-12

	 	$	1,541	 	 	$	-	 	 	$	150,000	 
	
01-Apr-12

	 	$	1,647	 	 	$	-	 	 	$	150,000	 
	
01-May-12

	 	$	1,594	 	 	$	-	 	 	$	150,000	 
	
01-Jun-12

	 	$	1,647	 	 	$	-	 	 	$	150,000	 
	
01-Jul-12

	 	$	1,594	 	 	$	-	 	 	$	150,000	 
	
01-Aug-12

	 	$	1,647	 	 	$	-	 	 	$	150,000	 
	
01-Sep-12

	 	$	1,647	 	 	$	-	 	 	$	150,000	 
	
01-Oct-12

	 	$	1,594	 	 	$	-	 	 	$	150,000	 
	
01-Nov-12

	 	$	1,647	 	 	$	-	 	 	$	150,000	 
	
01-Dec-12

	 	$	1,594	 	 	$	-	 	 	$	150,000	 
	
01-Jan-13

	 	$	1,647	 	 	$	-	 	 	$	150,000	 
	
01-Feb-13

	 	$	1,647	 	 	$	-	 	 	$	150,000	 
	
01-Mar-13

	 	$	1,488	 	 	$	-	 	 	$	150,000	 
	
01-Apr-13

	 	$	1,647	 	 	$	-	 	 	$	150,000	 
	
01-May-13

	 	$	1,594	 	 	$	-	 	 	$	150,000	 
	
01-Jun-13

	 	$	1,647	 	 	$	-	 	 	$	150,000	 
	
01-Jul-13

	 	$	1,594	 	 	$	-	 	 	$	150,000	 
	
01-Aug-13

	 	$	1,647	 	 	$	1,875	 	 	$	148,125	 
	
01-Sep-13

	 	$	1,626	 	 	$	1,875	 	 	$	146,250	 
	
01-Oct-13

	 	$	1,554	 	 	$	1,875	 	 	$	144,375	 
	
01-Nov-13

	 	$	1,585	 	 	$	1,875	 	 	$	142,500	 



 




  





13











  






 



	Payment Date	 	
Interest

	 	 	
Principal

	 	 	
Balance o/s

	 
	
01-Dec-13

	 	$	1,514	 	 	$	1,875	 	 	$	140,625	 
	
01-Jan-14

	 	$	1,544	 	 	$	1,875	 	 	$	138,750	 
	
01-Feb-14

	 	$	1,523	 	 	$	1,875	 	 	$	136,875	 
	
01-Mar-14

	 	$	1,357	 	 	$	1,875	 	 	$	135,000	 
	
01-Apr-14

	 	$	1,482	 	 	$	1,875	 	 	$	133,125	 
	
01-May-14

	 	$	1,414	 	 	$	1,875	 	 	$	131,250	 
	
01-Jun-14

	 	$	1,441	 	 	$	1,875	 	 	$	129,375	 
	
01-Jul-14

	 	$	1,375	 	 	$	1,875	 	 	$	127,500	 
	
01-Aug-14

	 	$	1,400	 	 	$	1,875	 	 	$	125,625	 
	
01-Sep-14

	 	$	1,379	 	 	$	1,875	 	 	$	123,750	 
	
01-Oct-14

	 	$	1,315	 	 	$	1,875	 	 	$	121,875	 
	
01-Nov-14

	 	$	1,338	 	 	$	1,875	 	 	$	120,000	 
	
01-Dec-14

	 	$	1,275	 	 	$	1,875	 	 	$	118,125	 
	
01-Jan-15

	 	$	1,297	 	 	$	1,875	 	 	$	116,250	 
	
01-Feb-15

	 	$	1,276	 	 	$	1,875	 	 	$	114,375	 
	
01-Mar-15

	 	$	1,134	 	 	$	1,875	 	 	$	112,500	 
	
01-Apr-15

	 	$	1,235	 	 	$	1,875	 	 	$	110,625	 
	
01-May-15

	 	$	1,175	 	 	$	1,875	 	 	$	108,750	 
	
01-Jun-15

	 	$	1,194	 	 	$	1,875	 	 	$	106,875	 
	
01-Jul-15

	 	$	1,136	 	 	$	1,875	 	 	$	105,000	 
	
01-Aug-15

	 	$	1,153	 	 	$	1,875	 	 	$	103,125	 
	
01-Sep-15

	 	$	1,132	 	 	$	1,875	 	 	$	101,250	 
	
01-Oct-15

	 	$	1,076	 	 	$	1,875	 	 	$	99,375	 
	
01-Nov-15

	 	$	1,091	 	 	$	1,875	 	 	$	97,500	 
	
01-Dec-15

	 	$	1,036	 	 	$	1,875	 	 	$	95,625	 
	
01-Jan-16

	 	$	1,050	 	 	$	1,875	 	 	$	93,750	 
	
01-Feb-16

	 	$	1,029	 	 	$	1,875	 	 	$	91,875	 
	
01-Mar-16

	 	$	944	 	 	$	1,875	 	 	$	90,000	 
	
01-Apr-16

	 	$	988	 	 	$	1,875	 	 	$	88,125	 
	
01-May-16

	 	$	936	 	 	$	1,875	 	 	$	86,250	 
	
01-Jun-16

	 	$	947	 	 	$	1,875	 	 	$	84,375	 
	
01-Jul-16

	 	$	896	 	 	$	1,875	 	 	$	82,500	 
	
01-Aug-16

	 	$	906	 	 	$	1,875	 	 	$	80,625	 
	
01-Sep-16

	 	$	885	 	 	$	1,875	 	 	$	78,750	 
	
01-Oct-16

	 	$	837	 	 	$	1,875	 	 	$	76,875	 
	
01-Nov-16

	 	$	844	 	 	$	1,875	 	 	$	75,000	 
	
01-Dec-16

	 	$	797	 	 	$	1,875	 	 	$	73,125	 
	
01-Jan-17

	 	$	803	 	 	$	1,875	 	 	$	71,250	 
	
01-Feb-17

	 	$	782	 	 	$	1,875	 	 	$	69,375	 
	
01-Mar-17

	 	$	688	 	 	$	1,875	 	 	$	67,500	 
	
01-Apr-17

	 	$	741	 	 	$	1,875	 	 	$	65,625	 
	
01-May-17

	 	$	697	 	 	$	1,875	 	 	$	63,750	 
	
01-Jun-17

	 	$	700	 	 	$	1,875	 	 	$	61,875	 
	
01-Jul-17

	 	$	657	 	 	$	61,875	 	 	$	0	 







 


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