Document:

exv10w5

 

EXHIBIT 10.5

               FIFTH AMENDMENT dated as of June 16, 2005 (this “Amendment”),
to the CREDIT AGREEMENT dated as of November 8, 2002, as amended and
restated as of July 27, 2004 (as amended, supplemented or otherwise
modified from time to time, the “Credit Agreement”), among DEX
MEDIA, INC., DEX MEDIA EAST, INC., DEX MEDIA EAST LLC (the
“Borrower”), the lenders from time to time party thereto (the
“Lenders”), JPMORGAN CHASE BANK, N.A. (formerly known as JPMorgan
Chase Bank), as administrative agent and collateral agent (in such
capacities, the “Agent”), and J.P. MORGAN SECURITIES INC. and BANC
OF AMERICA SECURITIES LLC, as Joint Bookrunners and Co-Lead Arrangers.

          A. Capitalized terms used herein and not otherwise defined herein shall have the meanings
assigned to such terms in the Credit Agreement.

          B. The Borrower, the Parent and Holdings have requested that the Credit Agreement be amended
(the “Financing Amendments”) so as to (i) permit the Borrower to engage in securitization
transactions not exceeding $168,000,000 in the aggregate at any time and (ii) modify the Borrower’s
and Holding’s ability to make Restricted Payments.

          C. The Borrower, the Parent and Holdings have further requested that the Credit Agreement be
amended (the “Repricing Amendments”) so as to provide for (i) a new tranche of term loans
thereunder (the “New Tranche A Term Loans”), the proceeds of which, together, if necessary,
with other available funds of the Borrower, will be used to refinance all currently outstanding
Tranche A Term Loans and which, except as revised hereby, will have the same terms as the currently
outstanding Tranche A Term Loans under the Credit Agreement, (ii) the establishment of new
commitments to make Revolving Loans and to acquire participations in Letters of Credit and
Swingline Loans under the Credit Agreement (the “New Revolving Commitments”), which will
replace all existing Revolving Commitments and which, except as revised hereby, will have the same
terms as the existing Revolving Commitments, (iii) new revolving loans thereunder (the “New
Revolving Loans” and, together with the New Tranche A Term Loans, the “New Loans”), the
proceeds of which, together, if necessary, with other available funds of the Borrower, will be used
to refinance all currently outstanding Revolving Loans and which, except as revised hereby, will
have the same terms as the currently outstanding Revolving Loans under the Credit Agreement and
(iv) modifications to the Applicable Rate for New Tranche A Term Loans and Revolving Loans payable
under the Credit Agreement.

          D. Each existing Tranche A Lender (an “Existing Tranche A Term Lender”) that executes
and delivers a signature page to this Amendment (a “Lender Addendum”) and agrees to convert
its outstanding Tranche A Term Loans to New Tranche A Term Loans (a “Converting Tranche A Term
Lender”) will be deemed (i) to have agreed to the terms of this Amendment, (ii) to have agreed
to convert its Tranche A Term Loans (“Existing Tranche A Term Loans”) outstanding on the
Amendment Effective Date (as defined herein) into New Tranche A Term Loans in an aggregate
principal amount up to, but not in excess of, the aggregate principal amount of such Existing
Tranche A Term Loans, and (iii) upon the Amendment Effective Date, to have converted such amount of
its Existing Tranche A Term Loans as is determined by J.P. Morgan Securities Inc. and Banc of
America Securities LLC (the “Arrangers”) and the Borrower and notified to such Existing
Tranche A Term Lender into New Tranche A Term Loans in an equal principal amount.

 

 

          E. Each existing Revolving Lender (an “Existing Revolving Lender”) that executes and
delivers a Lender Addendum and agrees to convert (x) its outstanding Revolving Commitments to New
Revolving Commitments and (y) its outstanding Revolving Loans to New Revolving Loans (a
“Converting Revolving Lender”) will be deemed (i) to have agreed to the terms of this
Amendment, (ii) to have agreed to convert its Revolving Commitments (“Existing Revolving
Commitments”) outstanding on the Amendment Effective Date into New Revolving Commitments in an
aggregate amount up to, but not in excess of, the aggregate amount of such Existing Revolving
Commitments, (iii) to have agreed to convert its Revolving Loans (“Existing Revolving
Loans”) outstanding on the Amendment Effective Date into New Revolving Loans in an aggregate
amount up to, but not in excess of, the aggregate amount of such Existing Revolving Loans and (iv)
upon the Amendment Effective Date, to have converted such amount of its Existing Revolving
Commitments and such amount (the “Converted Revolving Loans Amount”) of its Existing
Revolving Loans as is determined by the Arrangers and the Borrower and notified to such Existing
Revolving Lender into New Revolving Commitments and New Revolving Loans, respectively, in an equal
amount.

          F. Each Person (other than a Converting Tranche A Term Lender in its capacity as such) that
executes and delivers a Lender Addendum and agrees to make New Tranche A Term Loans (an
“Additional Tranche A Term Lender”), including any Existing Tranche A Term Lender that
notifies the Arrangers that it does not want to be a Converting Tranche A Term Lender but is
willing to undertake a commitment to make and fund New Tranche A Term Loans, will be deemed (i) to
have agreed to the terms of this Amendment and (ii) to have committed to make New Tranche A Term
Loans to the Borrower on the Amendment Effective Date (“Additional Tranche A Term Loans”),
in such amounts (not in excess of any such commitment) as are determined by the Arrangers and the
Borrower and notified to such Additional Tranche A Term Lender. The proceeds of such Additional
Tranche A Term Loans will be used by the Borrower, together, if necessary, with other available
cash, to repay in full the outstanding principal amount of Existing Tranche A Term Loans that are
not converted by Converting Tranche A Term Lenders into New Tranche A Term Loans.

          G. Each Person (other than a Converting Revolving Lender in its capacity as such) that
executes and delivers a Lender Addendum and agrees to make New Revolving Commitments and New
Revolving Loans (an “Additional Revolving Lender”), including any Existing Revolving Lender
that notifies the Arrangers that it does not want to be a Converting Revolving Lender but is
willing to undertake a commitment to make New Revolving Commitments and New Revolving Loans, will
be deemed (i) to have agreed to the terms of this Amendment, (ii) to have committed to make New
Revolving Commitments to the Borrower on the Amendment Effective Date (“Additional Revolving
Commitments”) in such amounts (not in excess of any such commitment) as are determined by the
Arrangers and the Borrower and notified to such Additional Revolving Lender and (iii) to have
committed to make New Revolving Loans to the Borrower on the Amendment Effective Date
(“Additional Revolving Loans”) in such amounts (not in excess of any such commitment) (the
“Additional Revolving Loans Amount”) as are determined by the Arrangers and the Borrower
and notified to such Additional Revolving Lender. The proceeds of such Additional Revolving Loans
will be used by the Borrower, together, if necessary, with other available cash, to repay in full
the outstanding principal amount of Existing Revolving Loans that are not converted by Converting
Revolving Lenders into New Revolving Loans.

          H. Each Lender other than a New Lender (as defined below), including any Existing Tranche A
Term Lender or Existing Revolving Lender that executes and delivers a Lender Addendum solely in the
capacity of a Tranche A Lender and/or Revolving Lender and not

 

 

          specifically as a New Lender, will be deemed to have agreed to the terms of this Amendment but
will not be deemed thereby to have agreed to (i) convert Existing Tranche A Term Loans into New
Tranche A Term Loans, Existing Revolving Commitments into New Revolving Commitments or Existing
Revolving Loans into New Revolving Loans or (ii) to have made any commitment to make New Tranche A
Term Loans, New Revolving Commitments or New Revolving Loans.

          I. The Lenders are willing, subject to the terms and conditions set forth in this Amendment,
to effect such amendments to the Credit Agreement.

          J. The Converting Tranche A Term Lenders and the Additional Tranche A Term Lenders
(collectively, the “New Tranche A Term Lenders”) are severally willing to convert their
Existing Tranche A Term Loans into New Tranche A Term Loans or to make New Tranche A Term Loans, as
the case may be, subject to the terms and conditions set forth in this Amendment.

          K. The Converting Revolving Lenders and the Additional Revolving Lenders (collectively, the
“New Revolving Lenders” and, together with the New Tranche A Term Lenders, the “New
Lenders”) are severally willing to (i) convert their Existing Revolving Commitments into New
Revolving Commitments or to make New Revolving Commitments, as the case may be, and (ii) convert
their Existing Revolving Loans into New Revolving Loans or to make New Revolving Loans, as the case
may be, in each case, subject to the terms and conditions set forth in this Amendment.

          Accordingly, in consideration of the foregoing and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as
follows:

          SECTION 1. Amendments to the Credit Agreement to the Effect Repricing
Amendments. Effective as of the Amendment Effective Date:

          (a) the definition of each of the following terms in Section 1.01 of the Credit
Agreement is amended to read in its entirety as follows:

     “Applicable Rate” means, for any day (a) with respect to any Tranche B Term
Loan, 0.75% per annum, in the case of an ABR Loan, and 1.75% per annum, in the case of a
Eurocurrency Loan, and (b) with respect to any ABR Loan or Eurocurrency Loan that is a
Revolving Loan or a Tranche A Term Loan, or with respect to the commitment fees payable
hereunder, as the case may be, the applicable rate per annum set forth below under the
caption “ABR Spread”, “Eurocurrency Spread” or “Commitment Fee Rate”, as the case may be,
based upon the Leverage Ratio as of the most recent determination date:

	 	 	 	 	 	 	 
	 	 	ABR	 	Eurocurrency	 	Commitment Fee
	Leverage Ratio:	 	Spread	 	Spread	 	Rate
	Category 1	 	0.25%	 	1.25%	 	0.375%
	greater than or equal to	 	 	 	 	 	 
	3.75 to 1.00	 	 	 	 	 	 
	Category 2	 	0.0%	 	1.00%	 	0.375%
	greater than or equal to	 	 	 	 	 	 
	2.75 to 1.00	 	 	 	 	 	 
	but less than 3.75 to 1.00	 	 	 	 	 	 

 

 

	 	 	 	 	 	 	 
	 	 	ABR	 	Eurocurrency	 	Commitment Fee
	Leverage Ratio:	 	Spread	 	Spread	 	Rate
	Category 3	 	0.0%	 	0.875%	 	0.375%
	less than 2.75 to 1.00	 	 	 	 	 	 

     For purposes of the foregoing, (i) the Leverage Ratio shall be determined as of the
end of each fiscal quarter of the Borrower’s fiscal year based upon the consolidated
financial statements delivered pursuant to Section 5.01(a) or (b) and (ii) each change in
the Applicable Rate resulting from a change in the Leverage Ratio shall be effective during
the period commencing on and including the date of delivery to the Administrative Agent of
such consolidated financial statements indicating such change and ending on the date
immediately preceding the effective date of the next such change; provided that the
Leverage Ratio shall be deemed to be greater than 3.75 to 1.00 (A) at any time that an
Event of Default has occurred and is continuing or (B) if the Borrower fails to deliver the
consolidated financial statements required to be delivered by it pursuant to Section
5.01(a) or (b), during the period from the expiration of the time for delivery thereof
until such consolidated financial statements are delivered.

     “Tranche A Term Loans” means a Loan made pursuant to clause (a) of Section
2.01 or, as the context may require, a “Tranche A Term Loan” outstanding hereunder prior to
the Third Refinancing Date.

                           (b) Section 1.01 of the Credit Agreement is amended to add definitions of the
following terms in appropriate alphabetical order:

     “Fifth Amendment” means the Fifth Amendment dated as of June 16, 2005, to this
Agreement.

     “Third Refinancing Date” means the date on which Tranche A Term Loans are
made, and Revolving Commitments are established, in each case pursuant to Section 4 of the
Fifth Amendment.

     “Tranche A Undertaking” means, with respect to each Lender, the agreement, if
any, of such Lender to make, or convert an existing term loan into, a Tranche A Term Loan
pursuant to Section 4 of the Fifth Amendment on the Third Refinancing Date. The amount of
each Lender’s Tranche A Undertaking is set forth on Schedule 2.01.

                           (c) The definition of the term “Revolving Commitment” in Section 1.01 of the Credit
Agreement is amended by deleting the last sentence thereof in its entirety and replacing such
sentence with a sentence that reads as follows: “The aggregate amount of the Lenders’ Revolving
Commitments on the Third Refinancing Date is $100,000,000.”

                           (d) The definition of the term “Refinancing Date” in Section 1.01 of the Credit
Agreement is deleted and all references to such term in the Credit Agreement are amended to be
references to the term “Third Refinancing Date”.

                           (e) The definitions of the terms “New Tranche A Lender” and “Tranche A Commitment”
in Section 1.01 of the Credit Agreement are deleted.

 

 

                           (f) Section 2.01 of the Credit Agreement is amended to read as follows:

     “SECTION 2.01. Commitments. (a) Subject to the terms and conditions set
forth in the Fifth Amendment, each Lender has agreed to make, or acquire through conversion
of existing term loans, a Tranche A Term Loan to the Borrower on the Third Refinancing Date
in a principal amount equal to its Tranche A Undertaking.

     (b) Subject to the terms and conditions set forth in the Fourth Amendment, each
Lender has agreed to make, or acquire through conversion of existing term loans, a Tranche
B Term Loan to the Borrower on the Second Refinancing Date in a principal amount equal to
its Tranche B Undertaking.

     (c) Subject to the terms and conditions set forth herein, each Lender agrees to make
Revolving Loans to the Borrower from time to time during the Revolving Availability Period
in an aggregate principal amount that will not (after giving effect to any concurrent use
of the proceeds thereof to repay Swingline Loans or LC Disbursements) result in such
Lender’s Revolving Exposure exceeding such Lender’s Revolving Commitment. Within the
foregoing limits and subject to the terms and conditions set forth herein, the Borrower may
borrow, prepay and reborrow Revolving Loans.

     (d) Amounts repaid in respect of Term Loans may not be reborrowed.”

     (g) Section 2.08(a) of the Credit Agreement is amended to read as follows:

     “SECTION 2.08. Termination and Reduction of Commitments. (a) The Tranche A
Undertakings shall terminate at 5:00 p.m., New York City time, on the Third Refinancing
Date. The Tranche B Undertakings terminated at 5:00 p.m., New York City time, on the
Second Refinancing Date, and the Revolving Commitments shall terminate on the Revolving
Maturity Date.”

                           (h) Section 2.10(a) of the Credit Agreement is amended to read in its entirety as
follows:

               “(a) Subject to adjustment pursuant to paragraph (d) of this Section 2.10,
the Borrower shall repay Tranche A Term Borrowings on each date set forth below in
an amount equal to the percentage of the aggregate principal amount of the Tranche
A Loans made on the Third Refinancing Date set forth opposite such date (each such
date being called an “Installment Date”):

	 	 	 
	 	 	Percentage of
	 	 	Principal Amount
	Date	 	to be Repaid
	June 30, 2005
	 	4.7010%
	September 30, 2005
	 	4.7010%
	December 31, 2005
	 	4.7010%
	March 31, 2006
	 	6.2717%
	June 30, 2006
	 	6.2717%
	September 30, 2006
	 	6.2717%
	December 31, 2006
	 	6.2717%
	March 31, 2007
	 	6.5859%

 

 

	 	 	 
	 	 	Percentage of
	 	 	Principal Amount
	Date	 	to be Repaid
	June 30, 2007
	 	6.5859%
	September 30, 2007
	 	6.5859%
	December 31, 2007
	 	6.5859%
	March 31, 2008
	 	8.6166%
	June 30, 2008
	 	8.6166%
	September 30, 2008
	 	8.6166%
	Tranche A Maturity Date
	 	8.6166%

          (i) Section 2.11(f) of the Credit Agreement is amended by replacing the proviso to
the second sentence thereof with a new proviso that reads as follows: “provided that, (i)
the proceeds of the Tranche A Term Loans made on the Third Refinancing Date, together with such
additional amounts as may be necessary, shall be applied to the repayment of all Tranche A Term
Loans outstanding immediately prior to the Third Refinancing Date, (ii) the proceeds of the Tranche
B Term Loans made on the Second Refinancing Date, together with such additional amounts as may be
necessary, shall be applied to the repayment of all Tranche B Term Loans outstanding immediately
prior to the Second Refinancing Date, (iii) 100% of the proceeds of any Revolving Loans incurred by
the Borrower on the Third Refinancing Date prior to the effectiveness of the Fifth Amendment may be
applied by the Borrower to prepay only Tranche A Term Borrowings and (iv) so long as and to the
extent that any Tranche A Term Borrowings remain outstanding, any Tranche B Lender may elect, by
notice to the Administrative Agent by telephone (confirmed by telecopy) at least one Business Day
prior to the prepayment date, to decline all or any portion of any prepayment of its Tranche B Term
Loans pursuant to this Section (other than an optional prepayment pursuant to paragraph (a) of this
Section, which may not be declined), in which case the aggregate amount of the prepayment that
would have been applied to prepay Tranche B Term Loans but was so declined shall be applied to
prepay Tranche A Term Borrowings.”

          (j) Section 5.11 of the Credit Agreement is amended by revising the first sentence
of such Section to read as follows: “The proceeds of the Tranche A Term Loans made on the Third
Refinancing Date will be used only to refinance Tranche A Term Loans outstanding immediately prior
to the Third Refinancing Date and to pay fees and expenses in connection therewith, and the
proceeds of the Tranche B Term Loans made on the Second Refinancing Date will be used only to
refinance Tranche B Term Loans outstanding immediately prior to the Second Refinancing Date and to
pay fees and expenses in connection therewith.”

          (k) Schedule 2.01 of the Credit Agreement is deleted and replaced in its entirety
with a new Schedule 2.01 (the “New Schedule 2.01”) that will, upon completion of the
allocations of Tranche A Undertakings and New Revolving Commitments in accordance with the terms
hereof, set forth each Lender’s Tranche A Undertaking, Tranche B Undertaking and New Revolving
Commitment, and shall be furnished to each New Lender promptly upon the completion of such
allocations.

          SECTION 2. Amendments to the Credit Agreement to Effect the Financing
Amendments. Effective as of the Amendment Effective Date:

          (a) the definition of each of the following terms in Section 1.01 of the Credit
Agreement is amended to read in its entirety as follows:

     “Asset Disposition” means (a) any sale, transfer or other disposition
(including pursuant to a sale and leaseback transaction but excluding any sale of
Securitization

 

 

Assets pursuant to a Securitization) of any property or asset of the Borrower or any
Subsidiary and the receipt by the Borrower or any Subsidiary Loan Party of any dividend or
distribution from any Unrestricted Subsidiary representing proceeds from the disposition by
such Unrestricted Subsidiary of assets outside the ordinary course of business or from the
sale of any Equity Interests in such Unrestricted Subsidiary, other than (i) dispositions
described in clauses (a), (b), (c), (d) and (e) of Section 6.05 and (ii) other dispositions
and dividends or distributions resulting in aggregate Net Proceeds not exceeding
$10,000,000 during any fiscal year of the Borrower, (b) any casualty or other insured
damage to, or any taking under power of eminent domain or by condemnation or similar
proceeding of, any property or asset of the Borrower or any Subsidiary, but only to the
extent that the Net Proceeds therefrom have not been applied to repair, restore or replace
such property or asset within 365 days after such event and (c) any transfer of
Securitization Assets in a Securitization (and any subsequent transfer of Securitization
Assets that results in any increase in the aggregate funded amount of any Securitization
over the greatest aggregate funded amount previously outstanding thereunder),
provided that a Prepayment Event shall only exist with respect to a Securitization
to the extent the aggregate funded amount of all such Securitizations outstanding at the
time of determination exceeds the aggregate amount of prepayments of Term Loans previously
made hereunder in respect of Securitizations.

     “Borrower’s Portion of Excess Cash Flow” means, with respect to Excess Cash
Flow (a) in respect of any fiscal year ending prior to December 31, 2005, 50% of the amount
of such Excess Cash Flow and (b) in respect of any fiscal year ending on or after December
31, 2005, (i) if the Leverage Ratio as of the end of such fiscal year is less than 5.00 to
1.00, 100% of the amount of such Excess Cash Flow and (ii) otherwise, 50% of the amount of
such Excess Cash Flow.

     “Consolidated Cash Interest Expense” means, for any period, the excess of (a)
the sum of (i) the interest expense (including imputed interest expense in respect of
Capital Lease Obligations) of Holdings, the Borrower and the Subsidiaries for such period,
determined on a consolidated basis in accordance with GAAP, plus (ii) any cash payments
made during such period in respect of obligations referred to in clause (b)(iii) below that
were amortized or accrued in a previous period, plus (iii) the amount of dividends paid by
Holdings during such period pursuant to Section 6.08(a)(ix), plus (iv) to the extent not
otherwise included in the interest expense of Holdings, the Borrower and the Subsidiaries
for such period, commissions, discounts, yield, loss on sales and other fees and charges
during such period in connection with any Securitizations payable to any person other than
Holdings, the Borrower and the Subsidiaries, minus (b) the sum of (i) interest
income of Holdings, the Borrower and the Subsidiaries for such period, determined on a
consolidated basis in accordance with GAAP, plus (ii) to the extent included in such
consolidated interest expense for such period, amounts attributable to amortization of
financing costs, plus (iii) to the extent included in such consolidated interest expense
for such period, non-cash amounts attributable to amortization of debt discounts or accrued
interest payable in kind for such period, plus (iv) to the extent included in such
consolidated interest expense for such period, amounts attributable to premiums paid,
prepayment fees or penalties related to the repayment of Indebtedness, plus (v) to the
extent included in the interest expense of Holdings, the Borrower and the Subsidiaries for
such period, any one time financing fees upon entering into any Securitization. For
purposes of the foregoing, interest expense of any Person shall be determined after giving
effect to any net payments made or received by such Person with respect to interest rate
Swap Agreements (other than early termination payments).

 

 

     “Material Subsidiary” means (i) any Securitization Vehicle and (ii) any other
Subsidiary, including its subsidiaries, which meets any of the following conditions: (a)
Holdings’, the Borrower’s and the other Subsidiaries’ investments in and advances to such
Subsidiary exceed 5% of the consolidated total assets of Holdings and the Subsidiaries as
of the end of the most recently completed fiscal year, (b) the consolidated assets of such
Subsidiary exceed 5% of the consolidated total assets of Holdings and the Subsidiaries as
of the end of the most recently completed fiscal year or (c) the consolidated pre-tax
income from continuing operations of such Subsidiary for the most recently ended period of
four consecutive fiscal quarters exceeds 5% of the consolidated pre-tax income from
continuing operations of Holdings and the Subsidiaries for such period.

     “Permitted Business” means the telephone and internet directory services
businesses and businesses reasonably related, incidental or ancillary thereto and in the
case of any Securitization Vehicle, Securitizations.

     “Subsidiary Loan Party” means any Subsidiary other than the Borrower that is
not (x) a Foreign Subsidiary or (y) a Securitization Vehicle.

          (b) Section 1.01 of the Credit Agreement is amended to add definitions of the
following terms in appropriate alphabetical order:

   “Securitization” means any transaction or series of transactions entered into
by the Borrower or any Subsidiary pursuant to which the Borrower or such Subsidiary, as the
case may be, sells, conveys or otherwise transfers to a Securitization Vehicle
Securitization Assets of the Borrower or such Subsidiary (or grants a security interest in
such Securitization Assets transferred or purported to be transferred to such
Securitization Vehicle), and which Securitization Vehicle finances the acquisition of such
Securitization Assets (i) with proceeds from the issuance of Third Party Interests, (ii)
with Sellers’ Retained Interests or (iii) with proceeds from the sale or collection of
Securitization Assets previously purchased by such Securitization Vehicle.

   “Securitization Assets” means any accounts receivable owed to or owned by the
Borrower or any Subsidiary (whether now existing or arising or acquired in the future)
arising in the ordinary course of business from the sale of goods or services, all
collateral securing such accounts receivable, all contracts and contract rights and all
guarantees or other obligations in respect of such accounts receivable, all proceeds of
such accounts receivable and other assets (including contract rights) which are of the type
customarily transferred in connection with securitizations of accounts receivable and which
are sold, transferred or otherwise conveyed by the Borrower or a Subsidiary to a
Securitization Vehicle in connection with a Securitization permitted by Section 6.05.

   “Securitization Vehicle” means a Person that is a direct wholly owned
Subsidiary of the Borrower or a Subsidiary formed for the purpose of effecting one or more
Securitizations to which the Borrower or its Subsidiaries transfer Securitization Assets
and which, in connection therewith, issues Third Party Interests or Sellers’ Retained
Interests; provided that such Securitization Vehicle shall engage in no business
other than the purchase of Securitization Assets pursuant to Securitizations permitted by
Section 6.05, the issuance of Third Party Interests or other funding of such
Securitizations and any activities reasonably related thereto, and provided further that

 

 

(x) no portion of the Indebtedness or any other obligations (contingent or
otherwise) of such Securitization Vehicle (i) is guaranteed by the Borrower or any
Subsidiary (excluding guarantees of obligations (other than the principal of and
interest on Indebtedness) pursuant to Standard Securitization Undertakings), (ii)
is recourse to or obligates the Borrower or any other Subsidiary of the Borrower in
any way other than pursuant to Standard Securitization Undertakings, or (iii)
subjects any property or asset of the Borrower or any other Subsidiary of the
Borrower, directly or indirectly, contingently or otherwise, to the satisfaction
thereof, other than pursuant to Standard Securitization Undertakings;

(y) neither the Borrower nor any Subsidiary has any material contract, agreement,
arrangement or understanding with such Securitization Vehicle other than on terms
which the Borrower reasonably believes to be no less favorable to the Borrower or
such Subsidiary than those that might be obtained at the time from Persons that are
not Affiliates of the Borrower; and

(z) neither the Borrower nor any Subsidiary has any obligation to maintain or
preserve such Securitization Vehicle’s financial condition or cause such
Securitization Vehicle to achieve certain levels of operating results.

     “Sellers’ Retained Interests” means the debt or equity interests held by the
Borrower or any Subsidiary in a Securitization Vehicle to which Securitization Assets have
been transferred in a Securitization permitted by Section 6.05, including any such debt or
equity received in consideration for the Securitization Assets transferred.

     “Standard Securitization Undertakings” means representations, warranties,
covenants, indemnities and guarantees of performance entered into by the Borrower or any
Subsidiary which the Borrower has determined in good faith to be customary in a
Securitization, including those relating to the servicing of the assets of a Securitization
Vehicle.

     “Third Party Interests” means, with respect to any Securitization, notes,
bonds or other debt instruments, beneficial interests in a trust, undivided ownership
interests in receivables or other securities issued for cash consideration by the relevant
Securitization Vehicle to banks, financing conduits, investors or other financing sources
(other than Holdings and the Subsidiaries) the proceeds of which are used to finance, in
whole or in part, the purchase by such Securitization Vehicle of Securitization Assets in a
Securitization. The amount of any Third Party Interests shall be deemed to equal the
aggregate principal, stated or invested amount of such Third Party Interests which are
outstanding at such time.

     (c) The first sentence of Section 2.11(d) of the Credit Agreement is amended to read
as follows:

     “Following the end of each fiscal year of the Borrower, commencing with the fiscal
year ending December 31, 2003, the Borrower will prepay Term Borrowings in an aggregate
amount equal to (i) 50% of Excess Cash Flow for such fiscal year less (ii) any voluntary
prepayments of Term Loans made pursuant to Section 2.11(a) during such fiscal year;
provided that, with respect to each such fiscal year ending on or after

 

 

December 31, 2005, no such prepayment of Term Borrowings shall be required if the
Leverage Ratio as of the end of such fiscal year is less than 5.0 to 1.0.”

                           (d) Section 6.01(a) of the Credit Agreement is amended by (i) redesignating
paragraphs (x) and (xi) thereunder as paragraphs (xi) and (xii), respectively, and (ii) adding a
new paragraph (x) to read as follows:

     “(x) Third Party Interests issued by Securitization Vehicles in Securitizations
permitted by Section 6.05, and Indebtedness represented by such Third Party Interests and
Indebtedness consisting of Standard Securitization Undertakings, provided that the
aggregate amount of such Third Party Interests shall not exceed $168,000,000 at any time
outstanding;”.

     (e) Section 6.01(b) of the Credit Agreement is amended to read as follows:

     “(b) Neither Holdings nor the Borrower will, nor will they permit any Subsidiary to,
issue any preferred stock or other preferred Equity Interests, other than (i) Non-Cash Pay
Preferred Stock of Holdings and (ii) Third Party Interests issued by Securitization
Vehicles.”

                           (f) Section 6.02(a) of the Credit Agreement is amended by (i) deleting the word
“and” at the end of paragraph (v) thereunder, (ii) redesignating paragraph (vi) thereunder as
paragraph (vii) and (iii) adding a new paragraph (vi) to read as follows:

     “(vi) Liens in favor of any Securitization Vehicle or any collateral agent on
Securitization Assets transferred or purported to be transferred to such Securitization
Vehicle in connection with Securitizations permitted by Section 6.05; and”.

                           (g) Section 6.04 of the Credit Agreement is amended by (i) deleting the word “and”
at the end of paragraph (l) thereunder, (ii) redesignating paragraph (m) thereunder as paragraph
(n) and changing all references in the Credit Agreement to “Section 6.04(m)” to “Section 6.04(n)”
and (iii) adding a new paragraph (m) to read as follows:

     “(m) Investments consisting of Sellers’ Retained Interests in Securitizations
permitted by Section 6.05; and”.

                           (h) The first sentence of Section 6.05 is amended by adding the words “and any sale
of Securitization Assets in connection with a Securitization” immediately after the words “any
Equity Interest owned by it”.

                           (i) Section 6.05 of the Credit Agreement is amended by (i) deleting the word “and”
at the end of paragraph (f) thereunder, (ii) redesignating paragraph (g) thereunder as paragraph
(h) and (iii) adding a new paragraph (g) to read as follows:

     “(g) sales of Securitization Assets to one or more Securitization Vehicles in
Securitizations; provided that (i) each such Securitization is effected on market
terms as reasonably determined by the management of the Borrower, (ii) the aggregate amount
of Third Party Interests in respect of all such Securitizations does not exceed
$168,000,000 at any time outstanding, (iii) the proceeds to each such Securitization
Vehicle from the issuance of Third Party Interests are applied substantially simultaneously
with receipt thereof to the purchase from the Borrower or Subsidiaries of Securitization
Assets and an

 

 

amount equal to 100% of the Net Proceeds from each such Securitization is applied to
the mandatory repayment of Term Loans in accordance with Section 2.11(c) and (iv) the
Equity Interests and Sellers’ Retained Interests in respect of each such Securitization
Vehicle shall be pledged to the Collateral Agent under the Collateral Agreement; and”

                           (j) Section 6.07 of the Credit Agreement is amended by (i) replacing the word “and”
at the end of clause (b) thereunder with a comma, (ii) redesignating clause (c) thereunder as
clause (d) and (iii) adding a new clause (c) to read as follows:

                           “(c) Swap Agreements required by any Securitization and”.

                           (k) Section 6.08(a)(viii) of the Credit Agreement is amended by replacing the value
“$29,400,000” with “$42,000,000”.

                           (l) Section 6.09 of the Credit Agreement is amended by (i) replacing the word “and”
at the end of clause (j) thereunder with a comma, (ii) redesignating clause (k) thereunder as
clause (l) and (iii) adding a new clause (k) to read as follows:

     “(k) sales of Securitization Assets to Securitization Vehicles and other transactions
effected as part of Securitizations permitted by Section 6.05, and”

                           (m) Section 6.10(a) of the Credit Agreement is amended by (i) replacing the word
“and” at the end of clause (vii) thereunder with a comma, (ii) redesignating clause (viii)
thereunder as clause (ix) and (iii) adding a new clause (viii) to read as follows:

     “(viii) the foregoing shall not apply to customary restrictions contained in any
documents relating to any Securitizations, provided that such restrictions only
apply to the applicable Securitization Vehicle and its assets and”.

                           (n) Article VI of the Credit Agreement is amended by adding a new Section 6.24 to
read as follows:

     “SECTION 6.24 Commingling of Accounts. Each of Holdings and the Borrower
will not, nor will it cause or permit any Subsidiary to, commingle amounts relating to
Securitization Assets sold pursuant to a Securitization with cash or any other amounts of
Holdings, the Borrower and the Subsidiaries other than the temporary commingling of
collections on and proceeds of any accounts receivable or related assets of the Borrower
and its Subsidiaries, in each case as may be necessary to identify and sort such
collections and proceeds.”

                           (o) Article VIII of the Credit Agreement is amended by adding a new paragraph to the
end of such Article to read as follows:

     “Each party hereto authorizes the Agent to enter into customary intercreditor
agreements in connection with Securitizations permitted under this Agreement.”

                           SECTION 3. Representations and Warranties. To induce the other parties
hereto to enter into this Amendment, each of the Borrower, the Parent and Holdings represents and
warrants to each of the Lenders, the Additional Tranche A Term Lenders, the Additional Revolving
Lenders and the Agent that, as of the Amendment Effective Date:

 

 

          (a) This Amendment has been duly authorized, executed and delivered by it and each
of this Amendment and the Credit Agreement, as amended and restated hereby, constitutes its valid
and binding obligation, enforceable against it in accordance with its terms, subject to applicable
bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights
generally and subject to general principles of equity, regardless of whether considered in a
proceeding in equity or at law.

          (b) The representations and warranties set forth in Article III of the Credit
Agreement are true and correct in all material respects on and as of the Amendment Effective Date
with the same effect as though made on and as of the Amendment Effective Date, except to the extent
such representations and warranties expressly relate to an earlier date (in which case such
representations and warranties were true and correct in all material respects as of such earlier
date); provided that the foregoing representation is made by the Parent only in respect of
the representations and warranties set forth in Sections 3.01, 3.02, 3.03, 3.08, 3.09 and 3.12 of
the Credit Agreement.

          (c) No Default or Event of Default has occurred and is continuing.

          SECTION 4. New Tranche A Term Loans; New Revolving Commitments; and New
Revolving Loans. (a) Subject to the terms and conditions set forth herein, (i) each
Converting Tranche A Term Lender agrees to convert its Existing Tranche A Term Loans into New
Tranche A Term Loans on the Amendment Effective Date in amounts equal to its Tranche A Undertaking,
(ii) each Additional Tranche A Term Lender agrees to make New Tranche A Term Loans to the Borrower
on the Amendment Effective Date in amounts equal to its Tranche A Undertaking, (iii) each
Converting Revolving Lender agrees to convert its Existing Revolving Commitments into New Revolving
Commitments on the Amendment Effective Date in amounts equal to its New Revolving Commitments, as
set forth in the New Schedule 2.01, (iv) each Additional Revolving Lender agrees to make New
Revolving Commitments to the Borrower on the Amendment Effective Date in amounts equal to its New
Revolving Commitments, as set forth in the New Schedule 2.01, (v) each Converting Revolving Lender
agrees to convert its Existing Revolving Loans into New Revolving Loans on the Amendment Effective
Date in amounts equal to its Converted Revolving Loans Amount and (vi) each Additional Revolving
Lender agrees to make New Revolving Loans to the Borrower on the Amendment Effective Date in
amounts equal to its Additional Revolving Loans Amount. Each Additional Tranche A Term Lender will
make New Tranche A Term Loans and each Additional Revolving Lender will make New Revolving Loans on
the Amendment Effective Date by transferring to the Agent, in the manner contemplated by Section
2.06 of the Credit Agreement, an amount equal to the amount of its Tranche A Undertaking or
Additional Revolving Loans Amount, respectively. Any portion of an Existing Tranche A Term Loan
converted by a Converting Tranche A Term Lender into a New Tranche A Term Loan as contemplated
hereby is referred to herein as a “Converted Tranche A Term Loan”, any portion of an
Existing Revolving Commitment converted by a Converting Revolving Lender into a New Revolving
Commitment as contemplated hereby is referred to herein as a “Converted Revolving
Commitment” and any portion of an Existing Revolving Loan converted by a Converting Revolving
Lender into a New Revolving Loan as contemplated hereby is referred to herein as a “Converted
Revolving Loan”. The “Tranche A Undertaking” (i) of any Converting Tranche A Term
Lender will be such amount of its Existing Tranche A Term Loans to be converted into an equal
amount of New Tranche A Term Loans, as is determined by the Arrangers and the Borrower and notified
to such Lender prior to the Amendment Effective Date, and (ii) of any Additional Tranche A Term
Lender will be the amount (not exceeding any commitment offered by such Additional Tranche A Term
Lender) allocated to it by the Arrangers and the Borrower and notified to it prior to the Amendment
Effective Date. The New

 

 

           Schedule 2.01 will separately set forth (i) the Tranche A Undertaking of each Converting
Tranche A Term Lender, (ii) the Tranche A Undertaking of each Additional Tranche A Term Lender,
(iii) the New Revolving Commitment of each Converting Revolving Lender and (iv) the New Revolving
Commitment of each Additional Revolving Lender. The commitments of the Additional Tranche A Term
Lenders and the conversion undertakings of the Converting Tranche A Term Lenders are several and no
such Lender will be responsible for any other Lender’s failure to make or acquire by conversion New
Tranche A Term Loans. The commitments of the Additional Revolving Lenders and the conversion
undertakings of the Converting Revolving Lenders are several and no such Lender will be responsible
for any other Lender’s failure to make or acquire by conversion New Revolving Commitments or New
Revolving Loans. Each New Revolving Loan made pursuant to this Section 4 shall be deemed to be
made under Section 2.01(c) of the Credit Agreement.

          (b) Notwithstanding anything herein or in the Credit Agreement to the contrary, (i)
the aggregate principal amount of the New Tranche A Term Loans will not exceed the aggregate
principal amount of the Existing Tranche A Term Loans immediately prior to the Amendment Effective
Date, (ii) the aggregate amount of the New Revolving Commitments will not exceed the aggregate
amount of the Existing Revolving Commitments immediately prior to the Amendment Effective Date,
(iii) the aggregate amount of the New Revolving Loans will not exceed the aggregate amount of the
Existing Revolving Loans immediately prior to the Amendment Effective Date and (iv) the Converted
Revolving Loans Amount or Additional Revolving Loans Amount, as applicable, of each New Revolving
Lender shall be equal to the Pro Rata Percentage of the amount of such New Revolving Lender’s New
Revolving Commitment. For purposes hereof, the “Pro Rata Percentage” shall be equal to the
quotient obtained by dividing (i) the aggregate amount of New Revolving Loans by (ii) the aggregate
amount of New Revolving Commitments.

          (c) The obligation of each New Tranche A Term Lender to make or acquire by
conversion New Tranche A Term Loans, and the obligation of each New Revolving Lender to make or
acquire by conversion New Revolving Commitments and New Revolving Loans, in each case on the
Amendment Effective Date, is subject to the satisfaction of the following conditions:

   (i) The conditions set forth in Section 4.02 of the Credit Agreement shall
be satisfied on and as of the Amendment Effective Date, and the Agent shall have received a
certificate of a Financial Officer, dated the Amendment Effective Date, to such effect.

   (ii) The Agent shall have received a favorable legal opinion of Latham &
Watkins LLP, counsel to the Borrower, Holdings and the Parent, addressed to the Agent and
the New Lenders and dated the Amendment Effective Date, covering such matters relating to
the New Loans, the New Revolving Commitments, this Amendment, the Credit Agreement as
amended hereby, and the other Loan Documents and security interests thereunder as the Agent
may reasonably request, and such opinion shall be reasonably satisfactory to the Agent.

   (iii) The Agent shall have received such documents and certificates as the
Agent or its counsel may reasonably request relating to the organization, existence and
good standing of each Loan Party, the authorization of this Amendment and the transactions
contemplated hereby and any other legal matters relating to the Loan Parties, this
Amendment, the other Loan Documents and the transactions contemplated hereby, all in form
and substance reasonably satisfactory to the Agent.

 

 

   (iv) To the extent deemed necessary or appropriate by the Agent, each
Security Document shall have been amended to provide the benefits thereof to the New
Tranche A Term Lenders and the New Revolving Lenders on the same basis as such benefits are
provided to the existing Tranche A Term Lenders and the Existing Revolving Lenders,
respectively.

   (v) Each Loan Party that has not executed and delivered this Amendment shall
have entered into a written instrument reasonably satisfactory to the Agent pursuant to
which it confirms that it consents to this Amendment and the New Loans and New Revolving
Commitments and that the Security Documents to which it is party will continue to apply in
respect of the Credit Agreement, as amended hereby, and the Obligations of such Loan Party.

   (vi) The aggregate amount of the Tranche A Undertakings of the Additional
Tranche A Term Lenders, plus the amount of any cash available to be used to prepay Existing
Tranche A Term Loans, shall equal or exceed the aggregate principal amount of the Existing
Tranche A Term Loans other than Converted Tranche A Term Loans.

   (vii) The aggregate amount of the Additional Revolving Commitments of the
Additional Revolving Lenders shall equal or exceed the aggregate amount of the Existing
Revolving Commitments other than Converted Revolving Commitments.

   (viii) The aggregate amount of the New Revolving Loans of the Additional
Revolving Lenders, plus the amount of any cash available to be used to prepay Existing
Revolving Loans, shall equal or exceed the aggregate principal amount of the Existing
Revolving Loans other than Converted Revolving Loans.

   (ix) The Agent shall have received evidence that the Borrower has made the
payments referred to in Section 4(e) or is making such payments on the Amendment Effective
Date with the proceeds of the Additional Tranche A Term Loans and Additional Revolving
Loans and such other funds as may be required.

   (x) There shall be no outstanding unreimbursed LC Disbursements on the
Amendment Effective Date.

   (xi) The conditions to effectiveness of this Amendment set forth in Section
5 hereof shall have been satisfied.

          (d) All New Tranche A Term Loan Eurocurrency Borrowings and New Revolving Loan
Eurocurrency Borrowings made on the Amendment Effective Date shall have initial Interest Periods
ending on the same dates as the Interest Periods applicable to the Existing Tranche A Term Loan
Borrowings and the Existing Revolving Loan Borrowings, respectively, being refinanced, and the
Adjusted LIBO Rates applicable to such New Tranche A Term Loan Borrowings and such New Revolving
Loan Borrowings during such initial Interest Periods shall be the same as those applicable to the
Existing Tranche A Term Loan Borrowings and Existing Revolving Loan Borrowings, respectively, being
refinanced. For purposes of the foregoing, such Interest Periods shall be assigned (i) to the
Additional Tranche A Term Loans of each Additional Tranche A Term Lender in the same proportion
that such Interest Periods applied to the Existing Tranche A Term Loans on the Amendment Effective
Date and (ii) to the Additional Revolving Loans of each Additional Revolving Lender in the same
proportion that such Interest Periods

 

 

applied to the Existing Revolving Loans on the Amendment Effective Date. The Borrower will
not be required to make any payments to Converting Tranche A Term Lenders and Converting Revolving
Lenders under Section 2.16 of the Credit Agreement in connection with the conversion of their
Existing Tranche A Term Loans into New Tranche A Term Loans and Existing Revolving Loans into New
Revolving Loans, respectively.

          (e) On the Amendment Effective Date, the Borrower shall apply the proceeds of the
Additional Tranche A Term Loans, the Additional Revolving Loans and such other amounts as may be
necessary to (i) prepay in full all Existing Tranche A Term Loans (other than Converted Tranche A
Term Loans), (ii) prepay in full all Existing Revolving Loans (other than Converted Revolving
Loans), (iii) pay all accrued and unpaid interest on all Existing Tranche A Term Loans and Existing
Revolving Loans, (iv) pay to each Tranche A Lender and Revolving Lender all amounts payable
pursuant to Section 2.16 of the Credit Agreement as a result of the prepayment of such Lender’s
Existing Tranche A Term Loans and/or Existing Revolving Loans (other than Converted Tranche A Term
Loans and Converted Revolving Loans) and all other Obligations then due and owing to such Lenders
under the Credit Agreement in their capacities as such and (iv) pay to each Existing Revolving
Lender (including each Converting Revolving Lender) all accrued and unpaid commitment fees payable
pursuant to Section 2.12(a) of the Credit Agreement, all accrued and unpaid participation fees
payable pursuant to Section 2.12(b) and all other Obligations then due and owing to such Lenders
under the Credit Agreement in their capacities as such.

          (f) On the Amendment Effective Date, each Issuing Bank that has issued a Letter of
Credit prior to the Amendment Effective Date and set forth on Schedule 4(f) hereto (an
“Existing Letter of Credit”) shall be deemed, without further action by any New Revolving
Lender or any other party hereto or to the Credit Agreement, to have granted to each New Revolving
Lender and each New Revolving Lender shall have been deemed to have purchased from such Issuing
Bank a participation in such Letter of Credit in accordance with Section 2.05(d) of the Credit
Agreement. Concurrently with such grant, the participations in the Existing Letters of Credit
granted to the Existing Revolving Lenders under the Credit Agreement shall be automatically
canceled without further action by any of the parties thereto. On and after the Amendment
Effective Date, each Existing Letter of Credit shall constitute a Letter of Credit for all purposes
of the Credit Agreement.

          (g) On and after the Amendment Effective Date, each reference in the Credit
Agreement to “Tranche A Term Loans” shall be deemed a reference to the New Tranche A Term Loans
contemplated hereby and each reference to “Revolving Commitments” shall be deemed a reference to
the New Revolving Commitments contemplated hereby. Notwithstanding the foregoing, the provisions
of the Credit Agreement with respect to indemnification, reimbursement of costs and expenses,
increased costs and break funding payments shall continue in full force and effect with respect to,
and for the benefit of, each Lender that was a Tranche A Lender or a Revolving Lender, as the case
may be, prior to the Amendment Effective Date, but that is not a New Lender.

          SECTION 5. Effectiveness of Amendment. This Amendment shall become
effective as of the first date (the “Amendment Effective Date”) on which the following
conditions have been satisfied:

   (i) The Agent (or its counsel) shall have received duly executed
counterparts hereof that, when taken together, bear the signatures of (A) the Borrower, the
Parent and Holdings, (B) the Required Lenders, (C) each New Lender and (D) Tranche B
Lenders

 

 

holding more than 50% of the aggregate principal amount of outstanding Tranche B Term
Loans outstanding immediately prior to the effectiveness of this Amendment.

   (ii) The conditions set forth in Section 4(c) hereof shall have been
satisfied and the Borrower shall have made the payments required to be made by Section 4(e)
hereof.

   (iii) To the extent invoiced, the Agent shall have received payment or
reimbursement of its reasonable out-of-pocket expenses in connection with this Amendment
and any other out-of-pocket expenses of the Agent required to be paid or reimbursed
pursuant to the Credit Agreement, including the reasonable fees, charges and disbursements
of counsel for the Agent.

          SECTION 6. Effect of Amendment. (a) Except as expressly set forth herein,
this Amendment shall not by implication or otherwise limit, impair, constitute a waiver of or
otherwise affect the rights and remedies of the Lenders or the Agent under the Credit Agreement or
any other Loan Document, and shall not alter, modify, amend or in any way affect any of the terms,
conditions, obligations, covenants or agreements contained in the Credit Agreement or any other
provision of the Credit Agreement or of any other Loan Document, all of which are ratified and
affirmed in all respects and shall continue in full force and effect. Nothing herein shall be
deemed to entitle the Borrower to a consent to, or a waiver, amendment, modification or other
change of, any of the terms, conditions, obligations, covenants or agreements contained in the
Credit Agreement or any other Loan Document in similar or different circumstances.

          (b) On and after the Amendment Effective Date, each reference in the Credit
Agreement to “this Agreement”, “hereunder”, “hereof”, “herein”, or words of like import, and each
reference to the Credit Agreement in any other Loan Document shall be deemed a reference to the
Credit Agreement as amended hereby. This Amendment shall constitute a “Loan Document” for all
purposes of the Credit Agreement and the other Loan Documents.

          SECTION 7. Governing Law. This Amendment shall be governed by and construed
in accordance with the laws of the State of New York.

          SECTION 8. Costs and Expenses. The Borrower agrees to reimburse the Agent
for its reasonable out of pocket expenses in connection with this Amendment, including the
reasonable fees, charges and disbursements of counsel for the Agent.

          SECTION 9. Counterparts. This Amendment may be executed in any number of
counterparts and by different parties hereto in separate counterparts, each of which when so
executed and delivered shall be deemed an original, but all such counterparts together shall
constitute but one and the same instrument. Delivery of any executed counterpart of a signature
page of this Amendment by facsimile transmission shall be as effective as delivery of a manually
executed counterpart hereof.

          SECTION 10. Headings. The headings of this Amendment are for purposes of
reference only and shall not limit or otherwise affect the meaning hereof.

 

 

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

	 	 	 	 	 
	 	DEX MEDIA EAST LLC,

by

 	 
	 	/s/ Robert M. Neumeister, Jr.
 	 
	 	Name:  	Robert M. Neumeister, Jr. 	 
	 	Title:  	Chief Financial Officer 	 
	 

	 	 	 	 	 
	 	DEX MEDIA EAST, INC.,

by

 	 
	 	/s/ Robert M. Neumeister, Jr.
 	 
	 	Name:  	Robert M. Neumeister, Jr. 	 
	 	Title:  	Chief Financial Officer 	 
	 

	 	 	 	 	 
	 	DEX MEDIA, INC.,

by

 	 
	 	/s/Robert M. Neumeister, Jr.
 	 
	 	Name:  	Robert M. Neumeister, Jr. 	 
	 	Title:  	Chief Financial Officer 	 
	 

 

 

	 	 	 	 	 
	 	JPMORGAN CHASE BANK, N.A.

(formerly known as JPMorgan

Chase Bank), individually and

as Agent,

	 	by  	/s/ Thomas H. Kozlark	 
	 
	 	Name:  	Thomas H. Kozlark  	 
	 	 	 
	 	Title:  	Vice President 	 
	 

 

 

                         LENDER ADDENDUM TO FIFTH AMENDMENT DATED AS
OF JUNE 16, 2005, OF THE DEX MEDIA EAST CREDIT
AGREEMENT DATED AS OF NOVEMBER 8, 2002, AS
AMENDED.

          This is a Lender Addendum referred to, and is a signature page to, the Fifth Amendment dated
as of June 16, 2005 (the “Amendment”) of the Credit Agreement dated as of November 8, 2002,
as amended, among Dex Media, Inc., Dex Media East, Inc., Dex Media East LLC, various Lenders and
JPMorgan Chase Bank, N.A. (formerly known as JPMorgan Chase Bank), as Administrative Agent.
Capitalized terms used but not defined herein have the meanings assigned to them in the Amendment
or the Credit Agreement, as applicable. By executing this Lender Addendum, the undersigned
institution agrees (i) if executing this Lender Addendum in the capacity of a Converting Tranche A
Term Lender, to the terms of the Amendment and, subject to the terms and conditions of the
Amendment, to convert its Existing Tranche A Term Loans into new Tranche A Term Loans on the
Amendment Effective Date in the amount of its Tranche A Undertaking, as reflected with respect to
Converting Tranche A Term Lenders in the New Schedule 2.01, (ii) if executing this Lender Addendum
in the capacity of an Additional Tranche A Term Lender, to the terms of the Amendment and, subject
to the terms and conditions of the Amendment, to make and fund New Tranche A Term Loans on the
Amendment Effective Date in the amount of its Tranche A Undertaking, as reflected with respect to
Additional Tranche A Term Lenders in the New Schedule 2.01, (iii) if executing this Lender Addendum
in the capacity of a Converting Revolving Lender, to the terms of the Amendment and, subject to the
terms and conditions of the Amendment, (x) to convert its Existing Revolving Commitments into New
Revolving Commitments on the Amendment Effective Date in the amount of its New Revolving
Commitments, as reflected with respect to Converting Revolving Lenders in the New Schedule 2.01 and
(y) to convert its Existing Revolving Loans into an amount of New Revolving Loans equal to its
Converted Revolving Loans Amount, (iv) if executing this Lender Addendum in the capacity of an
Additional Revolving Lender, to the terms of the Amendment and, subject to the terms and conditions
of the Amendment, (x) to make New Revolving Commitments on the Amendment Effective Date in the
amount of its New Revolving Commitments, as reflected with respect to Additional Revolving Lenders
in the New Schedule 2.01, and (y) to make and fund New Revolving Loans in an amount equal to its
Additional Revolving Loans Amount and (v) if executing this Lender Addendum in the capacity of a
Tranche B Lender, to the terms of the Amendment.

	 	 	 	 	 
	 	Name of Institution:

	 	 	 
	 	
	 	 
	 	 
	 	by  	  	 
	 	 	Name:	 	 
	 	 	Title:Exhibit 10.9 Placement Agent Agreement

    EXHIBIT
      10.9

     

    

      

      June
        7, 2005

      

      

      

      

      

      Board
        of Directors

      Carrizo
        Oil & Gas, Inc.

      1000
        Louisiana, Suite 1500

      Houston,
        TX 77002

      

      
        	
                Attention:

              	
                Mr.
                  Paul F. Boling

              
	 	
                Chief
                  Financial Officer

              

      

      

      

      
        	 	
                Re:

              	
                Engagement
                  of Hibernia Southcoast Capital, Inc. as Managing Placement Agent
                  of up to
                  1,100,000 shares of Common
                  Stock

              

      

      

      Dear
        Sir:

      

      1.  Engagement
        of Placement Agent.
        Carrizo Oil & Gas, Inc. (the “Company”) proposes to make a private placement
        (the “Offering”) of up to 1,100,000 shares of
        the Company’s common stock
        (“Common Stock”),
        par value $0.01 per share (individually,
        a “Security”, and collectively, the “Securities”),
        pursuant to the exemptions (the “Exemptions”) from registration provided in the
        Securities Act of 1933, as amended (the “1933 Act”). By entering into this
        Placement Agent Agreement (this “Agreement”), the Company engages Hibernia
        Southcoast Capital, Inc.(“HSC”) as its managing “Placement Agent,” and as a
        representative of such other participating broker/dealers as from time to
        time
        are mutually agreed upon by the parties hereto and listed on Exhibit
        C
        attached hereto
        (collectively, the “Placement Agents”),
        as from time to time updated, and provided that each such other broker/dealers
        enter
        into
        an agreement with HSC in
        the form attached hereto as Exhibit E (the “Agreement Among Placement Agents”)
agreeing
        upon the allocation to the
        Placement Agents,
        cross-indemnities and such other agreements typically found in agreements
        among
        multiple placement agents,
        in connection with the Offering through June 20, 2005, at which time
        this
        Agreement may terminate in accordance with Section 11
        hereof.
        By entering into this Agreement, HSC acting on behalf of itself and the other
        Placement Agents, severally, accepts such engagement and agrees,
        as more fully described in Section 4(a)
        hereof,
        to use their reasonable best efforts to place up to 1,100,000 shares of
        Securities solely with institutions (i) that
        are current
        security holders of
        the Company and
        (ii) which  such Placement Agent reasonably believes are
        “accredited investors” as defined in Rule 501(a)(1), (2), (3),
        (7) or
        (8) of
        Regulation D under the 1933 Act (collectively,
        the “Prior Investors”),
        including those institutions listed on Exhibit
        D
        hereto and any other such institutions approved by the Company.
        At the sole option of the Company, within 30 days following the closing of
        the
        Offering, the Company may make an additional private placement of up to
        1,100,000 shares of Common Stock, and the Placement Agents shall act as
        placement agents for such additional private placement, on substantially
        the
        same terms and conditions as those set 

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      forth
        herein, except that the expense reimbursement provided for in Section 2(b)
        hereof shall be limited in amount to $20,000.

      

      The
        offering price shall be such price as is mutually agreeable to the Company
        and
        HSC. The Company shall prepare a private placement memorandum, a subscription
        and registration rights agreement (the “Subscription Agreement”) and, if
        required, any other documents which may be necessary to comply with the
        Exemptions, each of which shall
        be subject
        to HSC’s
        reasonable
        approval (the
        “Offering Documents”). HSC hereby acknowledges and agrees that the Company, in
        the Company’s sole discretion, may (1) reject any subscription for Securities
        presented to the Company by HSC, (2) withdraw the offering of the Securities
        at
        any time, and (3) allot to any prospective investor less than the full amount
        of
        Securities sought by it. The Company agrees to enter into a Subscription
        Agreement with each of
        the purchasers of the Securities (individually,
        an “Investor”, and collectively, the
        “Investors”) substantially on the following terms: (1) the Company will
use
        its commercially reasonable efforts to file
        with the Securities and Exchange Commission (the “SEC”), within thirty (30) days
        following the closing of the Offering, or within such 30-day period as extended
        by such additional number of days as are attributable to any delay caused
        by any
        act or failure to act by any of the Investors or their counsel, a registration
        statement covering the resale of the Securities, and will use its commercially
        reasonable efforts to have such registration statement become effective with
        the
        SEC as soon as practicable thereafter;
        and (2) if the Company fails to file such registration statement within thirty
        (30) days following the closing of the Offering, or within such 30-day period
        as
        extended by such additional number of days as are attributable to any delay
        caused by any act or failure to act by any of the Investors or their counsel,
        it
        will be required to pay liquidated damages to each Investor in the Offering
        equal to one percent (1%) of such Investor’s purchase price for Securities, and
        an additional one percent (1%) of such Investor’s purchase price
        for Securities
        for each additional 30-day period during which such registration statement
        is
        not filed.

       

      

      The
        persons listed on Exhibit
        A
        attached hereto shall have entered into lock-up agreements substantially
        in the
        form attached hereto as Exhibit
        B,
        and shall have delivered the same to HSC,
        on or prior to the
        closing
        of the Offering.

       

      2.  Fees.

      

      (a)  In
        consideration of HSC’s performance of the services described in Section
1
        hereof,
        the Company agrees to pay to the Placement Agents a fee equal to five
        percent (5.0%) of
        the gross proceeds of the Offering sold by the Placement Agents (“Commissions”),
        of which amount no less than forty percent (40%) will be payable to HSC and
        not
        more than sixty percent (60%) will be payable to the other Placement Agents
        as a
        group, if any, listed on Exhibit
        C
        attached hereto in accordance with the percentages set out in Exhibit
        C.
        The Company shall pay to the Placement Agents all Commissions in full upon
        the
        closing of the Offering. 

      

      
        
          
            Initial
              Here (Company):

             

            _________________

          

          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      (b)  Regardless
        of whether or not the Offering is completed or this Agreement is terminated,
        the
        Company shall pay all of its expenses in connection with the Offering and
        shall
        pay HSC all reasonable out-of-pocket expenses incurred by HSC under this
        Agreement within five (5) business days after being demanded by HSC in writing
        with supporting documentation; provided, however, that under no circumstances
        shall the Company be obligated to pay HSC an amount in excess of $50,000
        (including attorneys’ fees) under this subsection. In the event that the
        Offering is consummated, then an estimate of expenses shall
        be paid to HSC at the
        closing
        with the remainder to be remitted upon demand as set forth above. 

      

      3.  Representations
        and Warranties of the Company.
        The Company represents and warrants to and agrees with HSC that:

      

      (a)  The
        Offering Documents, and any amendments or supplements thereto (including
        the
        documents that are incorporated therein by reference), will conform in all
        material respects to any applicable requirements of the 1933 Act and the
        Securities Exchange Act of 1934, as amended (the “1934 Act”), and any applicable
        state securities laws, and the Offering Documents, and any amendments or
        supplements thereto (including the documents that are incorporated therein
        by
        reference), will not include any untrue statement of a material fact or omit
        to
        state any material fact required to be stated therein or necessary to make
        the
        statements therein in light of the circumstances under which they were made
        not
        misleading, except that this representation and warranty will not apply to
        statements or omissions made in reliance upon and in conformity with information
        furnished by HSC in writing to the Company in connection with the Offering
        Documents, or any amendment or supplement thereto.

      

      (b)  The
        Company’s counsel will review the applicable registration requirements of the
        1933 Act and all applicable state securities laws and if the Offering is
        consummated reach a conclusion that the Exemptions
        are
        available to the Company in this Offering and that the Company complies with
        the
Exemptions.
        The Company so complies.

      

      (c)  All
        potential investors will be given reasonable access to material information
        regarding the Company and reasonable opportunity to ask questions of the
        Company’s executive officers. Notwithstanding the foregoing, the Company shall
        not be required to disclose to HSC or any potential investors any material
        nonpublic information regarding the Company’s trade secrets or other proprietary
        information.

      

      (d)  The
        Company makes, with respect to itself and this Agreement, all of the
        representations made by it in Section 6 of the Subscription and Registration
        Rights Agreement with respect to itself and that agreement.

      

      4.  Representations
        and Warranties of Placement
        Agents.
        HSC does, and each other Placement Agent will upon its execution and
        delivery of
        the
        Agreement Among Placement Agents,
        represent and warrant to and agree with the Company, severally (and not jointly
        or jointly and severally), that:

      

      
        
          
            Initial
              Here (Company):

             

            _________________

          

          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      (a)  Such
        Placement Agent is familiar or will make itself familiar with all applicable
        federal and state securities laws and the regulations thereunder which restrict
        the public sale and distribution of securities without a registration statement,
        qualification or exemption being in effect with respect thereto. In exercising
        its duties under this Agreement, such Placement Agent will not cause the
        Company
        to be engaged in a public offering, or otherwise take any action or omit
        to take
        any action such that the Offering fails to be entitled to the Exemptions.

      

      Such
        Placement Agent will offer Securities only to those offerees who such Placement
        Agent reasonably believes are Prior Investors or
        are otherwise approved in advance in writing by the Company and will provide
        certification as to the foregoing upon request by the Company, all in the
        manner
        described in the Subscription Agreement. Such Placement Agent will not disclose
        any material nonpublic information regarding the Company to any offeree,
        including without limitation, the fact that the Company is considering the
        private placement of the Securities, without first obtaining an agreement,
        oral
        or written, from such offeree that such information is to be kept confidential
        and used only in connection with the Offering.

      

      Such
        Placement Agent shall (i) deliver to each prospective investor that agrees
        to
        the foregoing, a current copy of the Offering Documents, (ii) maintain and
        furnish to the Company a list of all prospective investors contacted by such
        Placement Agent with regard to the Offering, including, if requested by the
        Company, the addresses of such prospective investors and the name and telephone
        number of a contact person with respect thereto, and (iii) present to the
        Company all written offers for the purchase of Securities received by such
        Placement Agent from any such prospective investors.

      

      (b)  Such
        Placement Agent shall comply with all applicable federal, state and other
        regulatory agencies’ securities laws, regulations and rules applicable to the
        Offering, including, without limitation, those restricting the solicitation
        of
        investors and those requiring the delivery to investors of certain information
        about the Company and the Offering.

      

      (c)  Such
        Placement Agent shall comply with all applicable laws and the rules of the
        National
        Association of Securities Dealers, Inc. (NASD)
        in recommending to a customer the purchase, sale or exchange of the Company’s
        securities.

      

      (d)  Such
        Placement Agent shall not give to any prospective investor any information,
        sales or advertising material or make any representation in connection with
        the
        Offering other than as contained in the Offering Documents or as otherwise
        agreed to by the Company which representation includes any untrue statement
        of
        any material fact or omission to state a material fact necessary to make
        the
        representation not misleading, and will distribute such permitted materials
        in
        accordance with the legends thereon and applicable securities laws.

      

      5.  Covenants
        of the Company.
        The Company agrees with HSC that until this Agreement terminates pursuant
        to
        Section 10
        hereof:

      

      
        
          
            Initial
              Here (Company):

               

              _________________

            

          

          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      (a)  The
        Company will advise HSC promptly and consult with HSC regarding the drafting
        of
        the Offering Documents (but not including documents already filed or required
        to
        be filed, subsequent to the execution of this Agreement, with the SEC in
        accordance with Section 12, Section 14 or Section 15 of the 1934 Act) and
        any
        amendments or supplements thereto and all related documents, including
Subscription
        Agreements,
        confidential investor questionnaires, an opinion of counsel to the Company
        and
        other documents associated with the Offering. The opinion will be addressed
        to
        the Placement Agents and will be substantially in
        the form attached hereto as Exhibit
        F.
        

      

      (b)  The
        Company will not distribute any Offering Documents or amendments or supplements
        thereto, that name HSC as a Placement Agent to any potential investor without
        the prior written consent of HSC.

      

      (c)  The
        Company will furnish to HSC copies of all Offering Documents in such quantities
        as HSC may reasonably request.

      

      (d)  If
        any event occurs following the Company’s agreement that marketing efforts may
        commence and prior to the closing of the Offering as a result of which any
        Offering Documents, as then amended or supplemented (including the documents
        that are incorporated therein by reference), would include an untrue statement
        of a material fact, or omit to state any material fact necessary to make
        the
        statements therein, in the light of the circumstances under which they were
        made, not misleading, the Company will promptly prepare (and file with the
        SEC
        or any state securities commission, if so required) any amendment or supplement
        which will correct such statement or omission or an amendment or supplement
        which will effect such compliance and will supply such amended or supplemented
        Offering Documents to HSC, in each case as soon as available and in such
        quantities as HSC may reasonably request.

      

      (e)  During
        the period from the date of this Agreement to the completion of the Offering,
        an
        officer of the Company shall promptly notify an officer of HSC of material
        events which would necessitate modification of any Offering Documents or
        any
        amendments or supplements thereto and shall be reasonably responsive to HSC’s
        inquiries about the Company’s ongoing operations as they relate to the Offering
        and the Offering Documents or any amendments or supplements thereto. The
        Company
        shall permit HSC to make such investigations of the business, properties
        and
        financial and legal conditions of the Company and its subsidiaries as HSC
        may
        reasonably request provided such investigations shall remain confidential.
        No
        such investigation by HSC, if made, shall affect the representations and
        warranties of the Company in Section 3
        hereof.

      

      (f)  Except
        as otherwise agreed to by the Company, as is required by law (including
        applicable securities laws) or as is necessary to complete its engagement
        hereunder, HSC will keep confidential and use solely in the performance of
        its
        services hereunder all information which is supplied by the Company and which
        has not previously entered the public domain, and 

       

      
        
          
            Initial
              Here (Company):

               

              _________________

            

          

          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      will
        not use any such information for its own benefit except in connection with
        the
        matters undertaken pursuant to the terms of this engagement. At the termination
        of this Agreement, upon the request of the Company, HSC shall return all
        information and copies thereof furnished by the Company, other than materials
        which HSC’s counsel advises it to retain to evidence its due diligence in
        connection with the performance of its services.

      

      6.  No
        Liability; Indemnification.
        

      

      (a)  Neither
        HSC
        or any other Placement Agent, nor any of their respective officers, directors,
        employees, attorneys, agents, or representatives, or any person controlling
        HSC
        or any other Placement Agent within the meaning of federal and state securities
        laws (“controlling persons”), will be liable to the Company for any claims,
        damages, expenses, losses or liabilities of any kind or nature (“Losses”)
        related to, arising out of, or in connection with their engagement hereunder
        except to the extent a court having jurisdiction shall have determined by
        a
        final nonappealable judgment that such Loss resulted from information
        furnished by or on behalf of that Placement Agent in writing specifically
        for
        use in the Offering Documents or the gross negligence or willful misconduct
        of
        such person, in which event the person or persons furnishing such information
        or
        so determined to have committed gross negligence or willful misconduct shall
        not
        be released by this paragraph 6(a).

      

      (b)  The
        Company shall (1) indemnify and hold harmless HSC, the other Placement Agents
        and the respective directors, officers, agents, employees and controlling
        persons of HSC and such other Placement Agents (collectively, the “Indemnified
        Persons”) from and against any and all Losses (including reasonable attorneys’
        fees) as incurred, to which any Indemnified Person may become subject, to
        the
        extent such Losses are related to, arise out of, or arise in connection with,
        the rendering of services by HSC or such other Placement Agents hereunder,
        including, without limitation, (i) any Action or Loss related to, arising
        out
        of, or arising in connection with any violation of the registration requirements
        under the 1933 Act or any state or foreign securities law in connection with
        the
        offering contemplated by this Agreement, except that a Placement Agent and
        its
        directors, officers, agents, employees and controlling persons shall not
        be
        indemnified against a registration violation caused by it or them, (ii) any
        Action or Loss related to, arising out of, or arising in connection with
        any
        breach of this Agreement by the Company and (iii) any Action or Loss related
        to,
        arising out of, or arising in connection with any untrue statement or alleged
        untrue statement of any material fact contained in the Offering Documents,
        or
        any amendment or supplement thereto (including any document incorporated
        therein
        by reference), or related to or arising out of the omission or alleged omission
        to state therein a material fact necessary to make the statements therein
        not
        misleading; provided, however, that in the case of this clause (iii) the
        Company
        shall not be liable to a particular Placement Agent if and to the extent
        that
        the untrue statement or alleged untrue statement or omission or alleged omission
        was made in conformity with information furnished by or on behalf of that
        Placement Agent in writing specifically for use in the Offering Documents;
        provided, however, that in any instance under this paragrpah 6(b) an Indemnified
        Person shall not be entitled to be indemnified and held harmless hereunder
        to
        any extent that a court having 

       

      
        
          Initial
            Here (Company):

             

            _________________

          

          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      jurisdiction
        shall determine by a final nonappealable judgment that such Losses resulted
        from
        the gross negligence or willful misconduct of such Indemnified Person; and
        (2)
        reimburse each Indemnified Person promptly for any reasonable legal or other
        out
        of pocket expenses incurred by it, as they are incurred
        and for which reasonably satisfactory documentation is provided to the Company,
        to the extent they relate to matters for which the Indemnified Person is
        entitled to indemnification hereunder,
        in connection with investigating, preparing to defend or defending or providing
        evidence in any lawsuits, claims or other proceeding (“Actions”) related to,
        arising out of, or in connection with, the rendering of services by HSC or
        such
        other Placement Agents hereunder; provided, however, that in the event a
        final
        nonappealable judicial determination is made to the effect that one or more
        Indemnified Persons that makes a claim for indemnification under this paragraph
        6(b) is not entitled to be so indemnified under this paragraph 6(b), such
        Indemnified Person who is subject to such determination will remit to the
        Company any amounts previously reimbursed under this subparagraph
        6(b)(2).

      

      (c)  Each
        Placement Agent, severally (and not jointly or jointly and severally),
shall
        (1) indemnify and hold harmless the Company and each of its directors, officers,
        agents, employees and controlling persons (together with the Company,
        collectively called the “Indemnified Persons”) from and against any and all
        Losses of any kind or nature (including reasonable attorneys’ fees) as incurred,
        to which the Company or any other Indemnified Person may become subject,
        to the
        extent such Losses are related to, arise out of, or arise in connection with,
        the breach of this Agreement by such Placement Agent or the gross negligence
        or
        willful misconduct of such Placement Agent; and (2) reimburse each Indemnified
        Person promptly for any reasonable legal or other out of pocket expenses
        incurred by it, as they are incurred and for which reasonably satisfactory
        documentation is provided to the indemnifying Placement Agent, to the extent
        such expenses relate to matters for which the Indemnified Person is entitled
        to
        indemnification hereunder, in connection with investigating, preparing to
        defend
        or defending or providing evidence in any Actions to the extent they relate
        to
        such matters. The indemnification provided under this paragraph 6(c) includes,
        without limitation, any Action or Loss arising from or in respect of any
        untrue
        statement or alleged untrue statement of any material fact contained in the
        Offering Documents, or any amendment or supplement thereto, or related to
        or
        arising out of the omission or alleged omission to state therein a material
        fact
        necessary to make the statements therein not misleading, but in any such
        case
        only if and to the extent such misstatement or omission, or alleged misstatement
        or omission, was made in conformity with information furnished by or on behalf
        of such Placement Agent in writing specifically for use in the Offering
        Documents;
        provided,
        however, that in the event a final nonappealable judicial determination is
        made
        to the effect that one or more Indemnified Persons that makes a claim for
        indemnification under this paragraph 6(c) is not entitled to be so indemnified
        under this paragraph 6(c), such Indemnified Person who is subject to such
        determination will remit to the Placement Agent any amounts previously
        reimbursed under this subparagraph 6(c)(2).

      

      (d) Each
        indemnifying party
        agrees that the indemnification and reimbursement commitments set forth in
        this
        paragraph 6 shall apply whether or not an
        Indemnified Person is a formal party to any such Actions. The Company further
        agrees that without
        HSC’s prior 

       

      
        
          Initial
            Here (Company):

             

            _________________

          

          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      consent,
        which will not be unreasonably withheld, any
        settlement of a lawsuit, claim or other proceeding against the Company arising
        out of the engagement contemplated by this Agreement that is entered into
        by the
        Company shall include an explicit release from the party bringing such lawsuit,
        claim or other proceeding of all Indemnified Persons, which release shall
        be
        reasonably satisfactory to HSC.

      

      (e) No
        Indemnified Person may, without the indemnifying party’s prior written consent
        (which will not be unreasonably withheld), settle or compromise or consent
        to
        the entry of any judgment to any pending or threatened Action in respect
        of
        which indemnification may be sought hereunder. Promptly after receipt by
        an
        Indemnified Person of notice of any intention or threat to commence an Action
        or
        notice of the commencement of any Action, such Indemnified Person will, if
        a
        claim in respect thereof is to be made against an indemnifying party pursuant
        hereto, promptly notify the indemnifying party in writing of the same; provided,
        however, that any delay or failure to give such notice shall not prejudice
        the
        rights of the Indemnified Person to be indemnified hereunder except to the
        extent that the indemnifying party is actually prejudiced by such delay or
        failure. In case any such Action is brought against any Indemnified Person,
        the
        indemnifying party may elect to assume the defense thereof, with counsel
        reasonably satisfactory to such Indemnified Person. An Indemnified Person
        may
        retain separate counsel to participate in the defense of any such Action,
        which
        shall be at its own expense unless such counsel advises the indemnifying
        party
        in writing that the same counsel may not represent the indemnifying party
        and
        such Indemnified Person under applicable ethical standards; provided, however,
        that in no event shall an indemnifying party be required to pay fees and
        expenses for more than one firm of attorneys representing all of the persons
        entitled to indemnification hereunder (with the exception of local counsel
        where
        reasonably required).

      

      (f) THE
        COMPANY UNDERSTANDS AND ACKNOWLEDGES THAT THE INDEMNIFIED PERSONS ARE RELEASED
        BY SECTION 6(a) FROM LIABILITY FOR THEIR OWN NEGLIGENCE (OTHER THAN GROSS
        NEGLIGENCE OR WILLFUL MISCONDUCT DETERMINED AS STATED THEREIN) AND
EACH
        PARTY UNDERSTANDS THAT THE INDEMNIFIED PARTIES ARE INTENDED TO BE INDEMNIFIED
        AND HELD HARMLESS BY SECTION
        6(b) AGAINST THEIR OWN NEGLIGENCE (OTHER THAN GROSS NEGLIGENCE OR WILLFUL
        MISCONDUCT DETERMINED AS STATED THEREIN).

      

      (g) The
        Company, HSC and the Placement Agents agree that if any indemnification or
        reimbursement sought pursuant to paragraph 6 is determined by a court having
        jurisdiction by a final nonappealable judgment to be unavailable
        other than for the reasons provided for in Section 6,
        then the Company and the Placement Agents shall contribute to the losses,
        claims, damages, liabilities and expenses for which such indemnification
        or
        reimbursement is held unavailable in such proportion as is appropriate to
        reflect the relative benefits received by, and fault of, the Company on the
        one
        hand, and each Placement Agent on the other hand (severally and not jointly
        or
        jointly and severally), in connection with the transactions to which such
        indemnification or reimbursement relates, and other equitable considerations;
        provided, however, 

       

      
        
          
            Initial
              Here (Company):

               

              _________________

            

          

          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      that
        in no event shall the amount to be contributed by any Placement Agent pursuant
        to this paragraph 6(g) exceed the amount of the fees actually received by
        such
        Placement Agent under this Agreement.

       

      7.  Allocation
        of Fees.
        If, on or prior the date of Closing of the offering, any proposed Placement
        Agent whose name is set forth on Exhibit C shall fail to execute the Agreement
        Among Placement Agents and participate in the Offering, the fee that such
        Placement Agent would have received shall be allocated to the participating
        Placement Agents in the proportion that their respective fee allocations
        set
        forth on Exhibit C bear to the aggregate fee percentage that would exist
        in the
        absence of the fee contemplated to be paid to the nonparticipating Placement
        Agent.

      

      8.  Notice.
        All notices, requests, demands, claims, and other communications hereunder
        will
        be in writing. Any notice, request, demand, claim or other communication
        if
        addressed to the intended recipient as set forth below shall be deemed to
        be
        duly given either when personally delivered or two days after it is sent
        by
        registered or certified mail, return receipt requested, postage prepaid,
        or one
        day after it is delivered to a commercial overnight courier, or upon
        confirmation if delivered by facsimile:

      

      If
        to the Company:

      

      Carrizo
        Oil & Gas, Inc.

      1000
        Louisiana, Suite 1500

      Houston,
        TX 77002

      Attn:
        Mr. Paul F. Boling

      Chief
        Financial Officer

      Telephone:
        (713) 328-1000

      Facsimile:
        (713) 328-1060

      

      With
        copy to:

      

      Baker
        Botts L.L.P.

      One
        Shell Plaza

      910
        Louisiana Street

      Houston,
        TX 77002

      Attn:
        Gene
        J. Oshman,
        Esq.

      Telephone:
        (713) 229-1178

      Facsimile:
        (713) 229-7778

      

      
        
          
            Initial
              Here (Company):

               

              _________________

            

          

          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      If
        to HSC:

      

      Hibernia
        Southcoast Capital, Inc.

      909
        Poydrass Street

      Suite
        1000

      New
        Orleans, LA 70112

      Attn:
        Stanley E. Ellington, Jr.

      Managing
        Director

      Telephone:
        (504) 593-6129

      Facsimile:
        (504) 523-1925

      

      Any
        party may give any notice, request, demand, claim, or other communication
        hereunder using any other means, but no such notice, request, demand, claim,
        or
        other communication shall be deemed to have been duly given unless and until
        it
        is actually received by the party for whom it is intended. Any party may
        change
        the address to which such notices, requests, demands, claims, or other
        communications are to be delivered by giving the other parties notice in
        the
        manner herein set forth.

      

      9.  Benefit
        and Non-Assignment.
        This Agreement is made solely for the benefit of HSC and the other Placement
        Agents, the Company, their respective officers and directors and any controlling
        person referred to in Section 15 of the 1933 Act, the respective Indemnified
        Persons, and their respective successors and assigns, and no other person
        shall
        acquire or have any right under or by virtue of this Agreement. Notwithstanding
        the foregoing, this Agreement may not be assigned by HSC without the prior
        written consent of the Company or assigned by the Company without the prior
        written consent of HSC. The term “successor” or the term “successors and
        assigns” as used in this Agreement shall not include any purchasers, as such, in
        the Offering. HSC is acting on behalf of itself and the other Placement Agents
        and may enter into any amendment or waiver of the provisions hereof on behalf
        of
        such Placement Agents.

      

      10.  Survival.
        Subject to any applicable statutes of limitations, the respective indemnities,
        agreements, representations, warranties, covenants and other statements,
        of HSC
        or the Company or their officers as set forth in or made pursuant to this
        Agreement shall survive and remain in full force and effect for a period
        of two
        (2) years, regardless of (i) any investigation made by or on behalf of HSC
        or
        the Company or any such officer or director thereof or any controlling person
        of
        the Company or HSC and (ii) delivery of or payment for the Securities. Any
        successor of the Company or HSC or any controlling person, officer or director
        thereof, as the case may be, shall be entitled to the benefits hereof. Notice
        of
        a claim or Loss shall toll the expiration of each agreement, representation,
        warranty, covenant and other statement on which such claim or Loss is
        based.

      

      11.  Termination.
        Either party may, at its option, terminate this Agreement prior to the Closing
        of the Offering upon giving the other party written notice in the event that
        (a)
        the other party fails to cure any violation of its representations and
        warranties in Section 3 or 4
        hereof,
        as 

       

      
        
          Initial
            Here (Company):

             

            _________________

          

          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      

      12.  Governing
        Law.
        The validity, interpretation and construction of this Agreement and of each
        part
        hereof will be governed by the laws of the State of Louisiana without
        regard to the conflict of laws principles thereof.

      

      13.  Counterparts.
        This Agreement may be executed in any number of counterparts, each of which
        may
        be deemed an original and all of which together will constitute one and the
        same
        instrument.

      

      

      [signature
        page follows]

      

      
        
          
            Initial
              Here (Company):

               

              _________________

            

          

          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      If
        the foregoing is in accordance with your understanding of our agreement,
        kindly
        sign and return to us the enclosed duplicate hereof, whereupon it will become
        a
        binding agreement between the Company and the Placement Agents in accordance
        with its terms.

       

      Very
        truly yours,

      

      HIBERNIA
        SOUTHCOAST CAPITAL, INC.

      

      

      

      By:
        /s/Stanley
        E. Ellington, Jr. 

      Stanley
        E. Ellington, Jr.

      Managing
        Director

      

      

      Accepted
        this 7th day of June, 2005

      

      CARRIZO
        OIL & GAS, INC.

      

      

      By:
        /s/Paul
        F. Boling 

      Paul
        F. Boling

      Chief
        Financial Officer

      

      

      

      

      

      423056.10

      
        
          
            Initial
              Here (Company):

               

              _________________

            

          

          
          

        

        
          
          

          
            

          

        

        
          
          

          
          

        

      

      EXHIBIT
        A

      

      

      S.
        P. Johnson, IV

      Paul
        F. Boling

      J.
        Bradley Fisher

      Kendall
        A. Trahan

      Gregory
        E. Evans

      Steven
        A. Webster

      

      
        
          
            Initial
              Here (Company):

               

              _________________

            

          

          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      EXHIBIT
        B

       

      

        Form
          of Lock-up Agreement

      

      
        
          Initial
            Here (Company):

             

            _________________

          

          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      EXHIBIT
        C

      

       

      

      
        	
                Additional
                  Placement Agents

              	
                Percentage
                  of Commissions and Fees

              
	 	 
	
                Hibernia
                  Southcoast Capital, Inc.

              	
                40%

              
	
                First
                  Albany

              	
                12%

              
	
                Johnson,
                  Rice & Company, LLC

              	
                12%

              
	
                Harris
                  Nesbit 

              	
                12%

              
	
                Key
                  Bank

              	
                12%

              
	
                Pritchard
                  Capital Partners, LLC

              	
                12%

              

      

      

      
        
          
            Initial
              Here (Company):

               

              _________________

            

          

          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      EXHIBIT
        D

      

      

      A
        I M Capital Mgmt

      Advisory
        Research

      American
        Century

      Baraboo
        Growth 

      Bass
        Enterprises/Oak Hill Capital Partners

      Cannell
        Capital

      Copia
        Capital

      Deephaven

      Deutsche
        Asset Mgmt

      Founders
        Asset Mgmt

      Gardner
        Lewis

      Gartmore

      Glacier
        Asset Mgmt

      HBK
        Investments

      Luther
        King Capital

      Missouri
        Valley Partners

      Moncrief,
        Willingham

      Morgan
        Stanley

      Neuberger
        Berman

      Next
        Century Growth Invest

      Northern
        Trust Global Investments

      Oberweis
        Asset Mgmt

      Passport
        Capital

      Peninsula
        Capital Mgmt

      Perritt
        Capital Mgmt

      Rockbay
        Capital Advisors

      S
        A C Capital Mgmt

      SSGA
        Funds Mgmt

      Satellite

      Sit
        Investment Associates

      Sterling
        Johnson Capital

      Strategic
        Advisors

      US
        Bancorp

      Wellington
        Mgmt

      Wells
        Capital Mgmt/Perrigrine

      West
        Coast Asset Mgmt

      WM
        Advisors

      

      
        
          
            Initial
              Here (Company):

               

              _________________

            

          

          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      EXHIBIT
        E

      

      Agreement
        Among Placement Agents

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

       

      
 

      
        
          
            Initial
              Here (Company):

               

              _________________

            

          

          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

      EXHIBIT
        E

      

      Form
        of Legal Opinion

      

      

    

    
      
        
          Initial
            Here (Company):

             

            _________________

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00088-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00088-of-00352.parquet"}]]