Document:

Exhibit 10.1

 

FOURTH EXHIBIT UPDATE, dated as of April 12, 2013 (the “Fourth Exhibit Update”), to the RECEIVABLES PURCHASE AGREEMENT, dated as of March 31, 2011, as amended through the date hereof, the “Receivables Purchase Agreement”), among (i) WORLD FUEL SERVICES, INC., a Texas corporation, WORLD FUEL SERVICES EUROPE, LTD., a company organized under the laws of England and Wales (together with its successors and assigns, “WFSE”), WORLD FUEL SERVICES (SINGAPORE) PTE LTD, a company organized under the laws of Singapore (together with its successors and assigns, “WFSS”), WORLD FUEL SERVICES TRADING DMCC, a company organized under rules and regulations of the Dubai Multi Commodities Center and the laws of Dubai (together with its successors and assigns, “WFST”), and WORLD FUEL SERVICES AVIATION LIMITED, a private limited liability company organized under the laws of England and Wales (together with its successors and assigns “WFSA”; WFSI, WFSE, WFSS, WFST and WFSA, together with its and their successors and assigns, each individually, “Seller”, and also collectively, as applicable, “Seller”), (ii) WORLD FUEL SERVICES CORPORATION, a Florida corporation (together with its successors and assigns, “Parent”), and (iii) WELLS FARGO BANK, NATIONAL ASSOCIATION, a U.S. national banking association (together with its successors and permitted assigns, “Wells”).  Terms not otherwise defined herein shall have the meanings set forth in the Receivables Purchase Agreement.

 

1.                                      Fourth Exhibit Update.  Seller, Parent and Wells hereby agree to substitute Exhibit A to the Receivables Purchase Agreement with the new Exhibit A attached to this Fourth Exhibit Update, effective as of April 12, 2013.

 

2.                                      Confirmation of Parent Guaranty.  By its execution of this Fourth Exhibit Update, Parent hereby consents to and acknowledges this Fourth Exhibit Update, and further acknowledges the continuing validity of the Parent Guaranty and reaffirms all of the terms and obligations contained in the Parent Guaranty, which shall remain in full force and effect for all obligations of Seller now or hereafter owing to Wells and acknowledges, agrees, represents and warrants that no oral or other agreements, understandings, representations or warranties exist with respect to the Parent Guaranty or with respect to the obligations of the undersigned thereunder, except those specifically set forth herein.  Parent further acknowledges and agrees that neither further notice to, nor consent of, Parent with respect to the modifications effected by this Fourth Exhibit Update is required under the terms of the Parent Guaranty.

 

3.                                      Governing Law; Consent to Jurisdiction.  This Fourth Exhibit Update, and the Receivables Purchase Agreement as so amended by this Fourth Exhibit Update, shall be interpreted in accordance with and governed by the laws of the State of New York without giving effect to conflicts of law principles that would cause the application of the law of any jurisdiction other than the laws of the State of New York.

 

4.                                      Execution in Counterparts.  This Fourth Exhibit Update may be executed in any number of counterparts, each of which shall be an original, but all of which taken together shall constitute one and the same agreement. Delivery of an executed counterpart of this Fourth Exhibit Update by PDF copy, telefacsimile or other electronic means shall have the same force and effect as the delivery of an original executed counterpart of this Fourth Exhibit Update.

 

1

 

IN WITNESS WHEREOF each Seller, Wells and Parent have caused this Fourth Exhibit Update to be executed by their respective officers thereunto duly authorized as of the date first above written.

 

	
 
    	
WELLS   FARGO BANK, NATIONAL ASSOCIATION, as Purchaser
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:   
    	
/s/   Barbara Van Meerten
    
	
 
    	
 
    	
Name:   Barbara Van Meerten
    
	
 
    	
 
    	
Title:   Managing Director
    

 

[Signature Page to Fourth Exhibit Update]

 

 

	
 
    	
WORLD FUEL SERVICES, INC.,
    
	
 
    	
as   a Seller
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Adrienne Urban
    
	
 
    	
 
    	
Name:   Adrienne Urban
    
	
 
    	
 
    	
Title:   Vice President, Treasurer
    

 

[Signature Page to Fourth Exhibit Update]

 

 

	
 
    	
WORLD   FUEL SERVICES EUROPE, LTD.,
    
	
 
    	
as   a Seller
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Adrienne Urban
    
	
 
    	
 
    	
Name:   Adrienne Urban
    
	
 
    	
 
    	
Title:   Vice President, Treasurer
    

 

[Signature Page to Fourth Exhibit Update]

 

 

	
 
    	
WORLD   FUEL SERVICES (SINGAPORE) PTE LTD,
    
	
 
    	
as   a Seller
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Francis Lee
    
	
 
    	
 
    	
Name:   Francis Lee
    
	
 
    	
 
    	
Title:   Executive Vice President
    

 

[Signature Page to Fourth Exhibit Update]

 

 

	
 
    	
WORLD   FUEL SERVICES TRADING DMCC,
    
	
 
    	
as   a Seller
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Richard McMichael
    
	
 
    	
 
    	
Name:   Richard McMichael
    
	
 
    	
 
    	
Title:   Senior Vice President — Finance (Aviation)
    

 

[Signature Page to Fourth Exhibit Update]

 

 

	
 
    	
WORLD   FUEL SERVICES AVIATION LIMITED,
    
	
 
    	
as   a Seller
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Christopher White
    
	
 
    	
 
    	
Name:   Christopher White
    
	
 
    	
 
    	
Title:   Vice President - Finance, EMEA
    

 

[Signature Page to Fourth Exhibit Update]

 

 

	
 
    	
WORLD   FUEL SERVICES CORPORATION,
    
	
 
    	
as   Parent
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   Adrienne Urban
    
	
 
    	
 
    	
Name:   Adrienne Urban
    
	
 
    	
 
    	
Title:   Vice President, Treasurer
    

 

[Signature Page to Fourth Exhibit Update]

 

 

EXHIBIT A
  List of Account Debtors*

 

	
BHP Billiton Marketing AG
    	
 
    	
Purchase   Limit (Aggregate):
    	
 
    	
$7,200,000
    
	
 
    	
 
    	
Maximum Invoice Terms:
    	
 
    	
30   Days
    
	
Cathay Pacific Airways Ltd.
    	
 
    	
Purchase   Limit (Aggregate):
    	
 
    	
$9,500,000
    
	
 
    	
 
    	
Maximum Invoice Terms:
    	
 
    	
30   Days
    
	
Deutsche Lufthansa AG (Parent)
    	
 
    	
Purchase   Limit (Aggregate):
    	
 
    	
$4,000,000
    
	
Austrian Airlines AG (Subsidiary)
    	
 
    	
Maximum   Invoice Terms:
    	
 
    	
30   Days
    
	
Lufthansa Cargo AG (Subsidiary)
    	
 
    	
 
    	
 
    	
 
    
	
Swiss International Airlines AG (Subsidiary)
    	
 
    	
 
    	
 
    	
 
    
	
Deutsche Lufthansa Aktiengessellschaft   (Subsidiary)
    	
 
    	
 
    	
 
    	
 
    
	
Edelweiss Air AG (Subsidiary)
    	
 
    	
Purchase   Limit (Aggregate):
    	
 
    	
$300,000
    
	
 
    	
 
    	
Maximum Invoice Terms:
    	
 
    	
30   Days
    
	
Kawasaki Kisen Kaisha Ltd. (Parent)
    	
 
    	
Purchase   Limit (Aggregate):
    	
 
    	
$15,150,000
    
	
K Line Pte. Ltd (Subsidiary)
    	
 
    	
Maximum   Invoice Terms:
    	
 
    	
40   Days
    
	
K Line Global Bulk (Subsidiary)
    	
 
    	
 
    	
 
    	
 
    
	
Nippon Yusen Kaisha (NYK) (Parent)
    	
 
    	
Purchase   Limit (Aggregate):
    	
 
    	
$11,240,000
    
	
NYK Global Bulk (Subsidiary)
    	
 
    	
Maximum   Invoice Terms:
    	
 
    	
40   Days
    
	
Noble Group Ltd. (Parent)
    	
 
    	
Purchase   Limit (Aggregate):
    	
 
    	
$6,100,000
    
	
Noble Chartering, Inc. (Subsidiary)
    	
 
    	
Maximum   Invoice Terms:
    	
 
    	
30   Days
    
	
NYK Trading Corporation
    	
 
    	
Purchase   Limit (Aggregate):
    	
 
    	
$10,710,000
    
	
 
    	
 
    	
Maximum Invoice Terms:
    	
 
    	
30   Days
    
	
Singapore Airlines Ltd. (Parent)
    	
 
    	
Purchase   Limit (Aggregate):
    	
 
    	
$6,500,000
    
	
Singapore Airlines Cargo Pte. Ltd. (Subsidiary)
    	
 
    	
Maximum   Invoice Terms:
    	
 
    	
30   Days
    
	
SilkAir (Singapore) Private Limited (Subsidiary)
    	
 
    	
 
    	
 
    	
 
    
	
Vale International, S.A.
    	
 
    	
Purchase   Limit (Aggregate):
    	
 
    	
$9,500,000
    
	
 
    	
 
    	
Maximum Invoice Terms:
    	
 
    	
30   Days
    
	
Federal Express Corporation
    	
 
    	
Purchase   Limit (Aggregate):
    	
 
    	
$4,500,000
    
	
 
    	
 
    	
Maximum Invoice Terms:
    	
 
    	
30   Days
    
	
DHL Express (USA) Inc.
    	
 
    	
Purchase   Limit (Aggregate):
    	
 
    	
$2,000,000
    
	
 
    	
 
    	
Maximum Invoice Terms:
    	
 
    	
30   Days
    
	
DLA Contract #SP0600-10-D-0051
    	
 
    	
Purchase   Limit (Aggregate):
    	
 
    	
$50,000,000
    
	
 
    	
 
    	
Maximum Invoice Terms:
    	
 
    	
30   Days
    
	
DLA Contract #SP0600-11-D-1013(1)
    	
 
    	
Purchase   Limit (Aggregate):
    	
 
    	
$50,000,000
    
	
 
    	
 
    	
Maximum Invoice Terms:
    	
 
    	
30   Days
    
	
DLA Contract #SP0600-12-D-1002(2)
    	
 
    	
Purchase   Limit (Aggregate):
    	
 
    	
$50,000,000
    
	
 
    	
 
    	
Maximum Invoice Terms:
    	
 
    	
30   Days
    
	
A.P. Møller — Mærsk A/S (Parent)
    	
 
    	
Purchase   Limit (Aggregate):
    	
 
    	
$5,400,000
    
	
Mærsk Line Ltd. (State of Delaware) (Subsidiary)
    	
 
    	
Maximum   Invoice Terms:
    	
 
    	
30   Days
    
	
Mærsk A/S (Subsidiary)
    	
 
    	
 
    	
 
    	
 
    
	
Mærsk Drilling Australia Pty. Ltd. (Subsidiary)
    	
 
    	
 
    	
 
    	
 
    
	
Mærsk Supply Services A/S (Subsidiary)
    	
 
    	
 
    	
 
    	
 
    
	
Mærsk Tankers A/S (Subsidiary)
    	
 
    	
 
    	
 
    	
 
    

 

(1) DLA Contract # SP0600-09-D-1012 (“Contract 1012”) expired in August of 2011 and was renewed under DLA Contract # SP0600-11-D-1013 (“Contract 1013”) . Purchases of Receivables occurring after the expiration of Contract 1012 that referenced Contract 1012 shall be deemed to have been purchases for Receivables arising under Contract 1013 for all purposes.

 

A-1

 

(2) Purchases of Receivables that referenced DLA Contract #SP0600-02-D-1002 shall be deemed to have been purchases for Receivables arising under Contract DLA Contract #SP0600-12-D-1002 for all purposes.

 

* Each Purchase Limit reflects the aggregate Purchase Limit for the applicable parent and its subsidiaries, if any, that are listed beneath such parent on this Exhibit A. Pursuant to Section 1.18(a) of this Agreement, in order to be an Eligible Receivable, the Receivable must be evidenced by an invoice or other documentation delivered to the Account Debtor (or a subsidiary of an Account Debtor, of which such Account Debtor directly owns more than 50% of the voting share capital and which is listed on this Exhibit A), which by its terms is due and payable by the Due Date, provided that the Due Date with respect to the Receivable is no greater than the number of days after the Purchase Date than the number of days designated as the “Maximum Invoice Term” for each Account Debtor set forth on this Exhibit A.

 

A-2Exhibit 4.2

 

SUPPLEMENTAL INDENTURE

 

This supplemental indenture (this “Supplemental Indenture”), dated as of July 30, 2013, by and among LIN Media LLC, a Delaware limited liability company (the “Guaranteeing Parent”), LIN Digital Media LLC, a Delaware limited liability company (“LIN Digital Media”), LIN Digital LLC, a Delaware limited liability company and wholly owned subsidiary of LIN Digital Media (“LIN Digital” and together with LIN Digital Media, the “Guaranteeing Subsidiaries” and collectively with the Guaranteeing Parent, the “Guaranteeing Parties”), LIN Television Corporation, a Delaware corporation (the “Company”), and The Bank of New York Mellon Trust Company, N.A., as trustee under the Indenture referred to below (the “Trustee”).

 

W I T N E S S E T H

 

WHEREAS, the Company has heretofore executed and delivered to the Trustee an indenture (as supplemented and amended from time to time, the “Indenture”), dated as of April 12, 2010, providing for the issuance of an aggregate principal amount of up to $290 million of 8.375% Senior Notes due 2018 (the “Notes”);

 

WHEREAS, the Guaranteeing Parent, a recently-formed wholly owned subsidiary of LIN TV Corp., a Delaware corporation and the sole stockholder of the Company (“LIN TV”), has entered into that certain Agreement and Plan of Merger, dated February 12, 2013, with LIN TV, pursuant to which LIN TV will merge with and into the Guaranteeing Parent with the Guaranteeing Parent continuing as the surviving entity as LIN TV’s successor (the “Merger”);

 

WHEREAS, the Indenture provides that under certain circumstances the Guaranteeing Parties shall execute and deliver to the Trustee a supplemental indenture, pursuant to which each of the Guaranteeing Parties shall unconditionally guarantee all of the Company’s Obligations under the Notes and the Indenture on the terms and conditions set forth herein (the “Guarantees”); and

 

WHEREAS, pursuant to Sections 4.13, 5.02(b), 9.01, 9.06 and 10.06 of the Indenture, the Company, the Guaranteeing Parties and the Trustee are authorized to execute and deliver this Supplemental Indenture without notice to, or the consent of, any Holder.

 

NOW THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Company, the Guaranteeing Parties and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows:

 

1.             Capitalized Terms. Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture.

 

2.             Agreement to Guarantee. Each of the Guaranteeing Parties hereby agrees to jointly and severally guarantee to each Holder of a Note authenticated and delivered by the Trustee and to the Trustee and its successors and assigns, the Notes or the obligations of the Company hereunder or thereunder, on a senior basis pursuant to, and in accordance with, the terms and conditions of Article Ten of the Indenture and to otherwise assume the obligations and rights as a Guarantor under the Indenture.

 

 

3.             Releases. Upon receipt by the Trustee of a request by the Company for a release of any of the Guaranteeing Parties from its respective obligations under Article Ten of the Indenture, which request shall be accompanied by an Officers’ Certificate certifying as to compliance with Section 10.03 of the Indenture, and, upon receipt of an Opinion of Counsel that the provisions of Section 10.03 of the Indenture have been complied with, the Trustee shall deliver an appropriate instrument, proposed by the Company and satisfactory in form to the Trustee, evidencing such release.

 

4.             No Recourse Against Others. As provided in Section 11.08 of the Indenture, no past, present or future director, officer, employee, incorporator, stockholder or agent of any of the Guaranteeing Parties, as such, shall have any liability for (i) (A) any obligations of the Company or such Guaranteeing Party under the Notes, (B) the Guarantees, (C) the Indenture or (D) this Supplemental Indenture, or (ii) any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of the Notes by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of the Notes.

 

5.             Governing Law. THE INTERNAL LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS SUPPLEMENTAL INDENTURE WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.

 

6.             Counterparts. The parties hereto may sign any number of copies of this Supplemental Indenture. Each signed copy shall be an original, but all of them together represent the same agreement.

 

7.             Effect of Headings. The Section headings herein are for convenience only and shall not affect the construction hereof.

 

8.             The Trustee. The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency of this Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by the Guaranteeing Parties and the Company.

 

[Remainder of Page Intentionally Left Blank]

 

2

 

IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed and attested, all as of the date first written above.

 

 

	
 
    	
LIN   DIGITAL MEDIA LLC
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Richard J. Schmaeling
    
	
 
    	
Name:
    	
Richard   J. Schmaeling
    
	
 
    	
Title:
    	
Senior   Vice President, Chief Financial Officer
    

 

[Signature Page to Supplemental Indenture — 2010 Notes]

 

 

	
 
    	
LIN   DIGITAL LLC
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Richard J. Schmaeling
    
	
 
    	
Name:
    	
Richard   J. Schmaeling
    
	
 
    	
Title:
    	
Senior   Vice President, Chief Financial Officer
    

 

[Signature Page to Supplemental Indenture — 2010 Notes]

 

 

	
 
    	
LIN   TELEVISION CORPORATION
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Richard J. Schmaeling
    
	
 
    	
Name:
    	
Richard   J. Schmaeling
    
	
 
    	
Title:
    	
Senior   Vice President, Chief Financial Officer
    

 

[Signature Page to Supplemental Indenture — 2010 Notes]

 

 

	
 
    	
LIN   MEDIA LLC
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   Richard J. Schmaeling
    
	
 
    	
Name:
    	
Richard   J. Schmaeling
    
	
 
    	
Title:
    	
Senior   Vice President, Chief Financial Officer
    

 

[Signature Page to Supplemental Indenture — 2010 Notes]

 

 

	
 
    	
THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,   as Trustee
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Teresa Petta
    
	
 
    	
 
    	
Name:
    	
Teresa Petta
    
	
 
    	
 
    	
Title:
    	
Vice President
    

 

[Signature Page to Supplemental Indenture — 2010 Notes]

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