Document:

Exchange Agreement between Entravision Communications and Univision Communicatio

 EXHIBIT 4.1 
  

EXCHANGE AGREEMENT 
  
 This Exchange Agreement (this “Agreement”) dated as of September 22, 2003 is entered into by and between Entravision Communications Corporation,
a Delaware corporation (the “Company”), and Univision Communications Inc. (the “Owner”). 
  
 RECITALS: 
  
 A. The Owner is the owner of certain shares of the Company’s Class A Common Stock and Class C Common Stock (the “Existing Shares”), the total of which is set forth on Exhibit B. 
  
 B. At the request of Owner, the parties have agreed that the Owner shall
exchange all of the Existing Shares for shares of a newly authorized class of Series U Preferred Stock of the Company (the “Series U”) as provided in this Agreement. 
  
 AGREEMENT: 
  
 NOW, THEREFORE, in consideration of the foregoing and of the mutual promises and covenants contained herein, the parties agree as follows: 
  
 1. Authorization and Issuance of Shares. 
  
 1.1 Authorization. The Company has duly authorized
the issuance, pursuant to the terms of this Agreement, of up to 369,266 shares of Series U having the rights, restrictions, privileges and preferences set forth in the form of Certificate of Designations, Preferences and Rights attached hereto as
Exhibit A (the “Certificate of Designations”) and has reserved and authorized the issuance of such number of duly authorized shares of Class A Common Stock as shall from time to time be sufficient to effect the conversion of all
outstanding shares of Series U (the “Conversion Shares”). The Company has duly adopted and filed the Certificate of Designations with the Secretary of State of the State of Delaware. 
  
 1.2 Exchange. Subject to the terms and conditions of
this Agreement, at the Closing (defined below), the Company will issue 369,266 shares of Series U to the Owner in exchange for all of the Existing Shares held by Owner. 
  
 2. Closing. The issuance of the shares of Series U hereunder shall take place at one (1) closing (referred to in this
Agreement as the “Closing”). Subject to the terms and conditions of this Agreement, the Closing shall take place on the date of this Agreement (the date of the Closing is referred to in this Agreement as the “Closing Date”). The
issuance shall be made on the terms and conditions set forth in this Agreement. The Closing shall be held at the offices of O’Melveny & Myers LLP, 1999 Avenue of the Stars, Suite 700, Los Angeles, California, at 10:00 a.m. local time, on
the Closing Date, or at such other time and place upon which the Company and the Owner shall agree in writing. At the Closing, the Company shall deliver to the Owner a stock certificate or other evidence representing the number of Series U shares
being issued to the Owner at the Closing, registered in the name of the Owner (or Owner’s custodian), 

 against delivery of all of the Existing Shares, either by delivery of certificates endorsed for transfer to the Company
or, with respect to stock held in street name, by delivery by Owner’s custodian to the Company’s transfer agent, as agent for the Company. 
  
 3. Representations and Warranties of the Company. The Company hereby represents and warrants to the Owner that: 
  
 3.1 Organization. The Company is duly organized and
validly existing under the laws of the state of Delaware. 
  
 3.2 Corporate Power. The Company has now, or will have at the Closing, all right, power and authority necessary (a) for the authorization, execution and delivery of this Agreement, (b) to sell and issue all of
the shares of Series U, and (c) to issue the Conversion Shares. This Agreement is a valid and binding obligation of the Company enforceable against the Company in accordance with its terms, except as the same may be limited by bankruptcy,
insolvency, reorganization, fraudulent conveyance, moratorium, usury and other laws of general application affecting the enforcement of creditors’ rights. 
  

3.3 Authorization. 
  
 (a) General. All corporate action on the part of the Company, its officers, directors and stockholders necessary for (i) the
issuance of all of the shares of Series U pursuant hereto, (ii) the issuance of all of the Conversion Shares and (iii) the authorization, execution and delivery by the Company of this Agreement has been obtained. 
  
 (b) Valid Issuance. The shares of Series U and the
Conversion Shares, when issued in compliance with the provisions of this Agreement and the Certificate of Designations, will be validly issued, fully paid and nonassessable and will be free of any liens or encumbrances; provided,
however, that all such shares may be subject to restrictions on transfer under state and/or federal securities laws. The rights, preferences, privileges and restrictions of the shares of Series U are as set forth in the Certificate of
Designations. 
  
 4. Representations and Warranties of
Owner. 
  
 4.1 Authority. Owner has
all right, power and authority necessary for the authorization, execution and delivery of this Agreement and the exchange of the Existing Shares hereunder, and this Agreement constitutes a valid and binding obligation of the Owner enforceable
against the Owner in accordance with its terms, except as the same may be limited by bankruptcy, insolvency, reorganization, fraudulent conveyance, moratorium, usury and other laws of general application affecting the enforcement of creditors’
rights. 
  
 4.2 Ownership. Owner owns and
is transferring the Existing Shares free and clear of any liens, security interests, encumbrances and claims. 
  
 4.3 Investment Intent. This Agreement is made with such Owner in reliance upon such Owner’s representations to the Company,
evidenced by such Owner’s execution of this Agreement, that such Owner is acquiring the shares of Series U and the Conversion Shares issuable upon conversion of the shares of Series U for such Owner’s own account for investment and not
with a view to, or for resale in connection with, any distribution or public offering thereof within the meaning of the Securities Act of 1933, as amended. 
  

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 5. Miscellaneous. 
  
 5.1 Governing Law. This Agreement shall be governed in all respects by the laws of the State of
California as such laws are applied to agreements between California residents entered into and to be performed entirely within California. 
  
 5.2 Survival. The representations, warranties, covenants and agreements made herein shall survive the execution of this Agreement
and the Closing of the transactions contemplated hereby. 
  
 5.3 Successors and Assigns. Except as otherwise expressly provided herein, the provisions hereof shall inure to the benefit of, and be binding upon, the successors, assigns, heirs, executors and administrators
of the parties hereto. The Company may not assign this Agreement. Without limiting the generality of the foregoing, all representations, covenants and agreements benefiting the Owner shall inure to the benefit of any and all subsequent holders from
time to time of the shares of Series U or Conversion Shares. 
  
 5.4 Entire Agreement. This Agreement and the exhibits and appendices to this Agreement (which such exhibits and appendices are hereby incorporated herein and made a part hereof by this reference) constitute the
full and entire understanding and agreement between the parties with regard to the subject matter hereof and thereof, and they supersede, merge and render void every other prior written and/or oral understanding or agreement among or between the
parties hereto with regard to the subject matter hereof. 
  
 5.5 Notices, etc. All notices and other communications required or permitted hereunder shall be in writing and shall be sent via confirmed facsimile, overnight courier service or mailed by certified or
registered mail, postage prepaid, return receipt requested, addressed or sent (a) if to Owner, at 1999 Avenue of the Stars, Suite 3050, Los Angeles, California, 90067, Attn: General Counsel, or at such other address or number as the Owner shall have
furnished to the Company in writing, or (b) if to the Company, at 2425 Olympic Boulevard, Suite 6000 West, Santa Monica, California, 90404, Attn: Walter F. Ulloa, or at such other address as the Company shall have furnished to the Owner in writing.
Notices that are mailed shall be deemed received five (5) days after deposit in the United States mail. Notices that are sent by facsimile shall be deemed received twenty-four (24) hours after the confirmed facsimile transmission. Notices sent by
overnight courier service shall be deemed received one (1) business day after deposit with a nationally recognized overnight courier. 
  
 5.6 Expenses. The Owner agrees to reimburse the Company for all reasonable and documented out-of-pocket costs and expenses
related to the creation and issuance of the shares of Series U, the exchange of the Existing Shares for the shares of Series U and any subsequent issuances of the Conversion Shares, including without limitation specific transfer agent fees
associated with these processes (but excluding the ongoing annual expense associated with the transfer agent’s service in such capacity) and filing fees paid to any governmental entity. 
  
 [REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK] 
  

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 IN WITNESS WHEREOF, the parties have executed this Agreement as of the day and year first above written.

  

	 COMPANY:

	
	ENTRAVISION COMMUNICATIONS CORPORATION,
	 a Delaware corporation

  

		
	 By:
	 	     /s/ PHILIP C. WILKINSON

	 Name: Philip C. Wilkinson

	 Title: President and Chief Operating Officer.

  

	 OWNER:
  
 UNIVISION COMMUNICATIONS INC.,
 a Delaware Corporation

		
	 By:
	 	     /s/ C. DOUGLAS KRANWINKLE

	 Name: C. Douglas Kranwinkle

	 Title: EVP

 Exhibit A 
  
 [Please see Exhibit 3.1 to the Company’s Quarterly Report on 
 Form 10-Q for the Quarterly Period Ended September 30, 2003] 

 Exhibit B 
  
 14,943,231 shares of Class A Common Stock 
  
 21,983,392 shares of Class C Common Stock 
  
 [Remainder of Page Intentionally Left Blank]Fourth Amendment to Credit Agreement dated September 19, 2003

 EXHIBIT 10.1 
  
 FOURTH AMENDMENT TO CREDIT AGREEMENT 
  
 This FOURTH AMENDMENT TO CREDIT AGREEMENT (this “Amendment”), dated as of September 19, 2003, is entered
into among (1) ENTRAVISION COMMUNICATIONS CORPORATION, a Delaware corporation (the “Borrower”), (2) the Lenders party to the Credit Agreement referred to below, (3) UNION BANK OF CALIFORNIA, N.A., as Arranging Agent for such Lenders
(in such capacity, the “Agent”), (4) UNION BANK OF CALIFORNIA, N.A., as Co-Lead Arranger and Joint Book Manager, (5) CREDIT SUISSE FIRST BOSTON, as Co-Lead Arranger, Administrative Agent and Joint Book Manager, (6) THE BANK OF NOVA
SCOTIA, as Syndication Agent, and (7) FLEET NATIONAL BANK, as Documentation Agent. 
  
 RECITALS 
  
 A. The
Borrower, the Lenders and the Agent previously entered into that certain Credit Agreement dated as of September 26, 2000 as amended by a First Amendment to Credit Agreement dated as of March 23, 2001, a Second Amendment to Credit Agreement dated as
of March 29, 2002 and a Third Amendment to Credit Agreement dated as of April 16, 2003 (said Agreement, as so amended, herein called the “Credit Agreement”). Capitalized terms used herein and not defined shall have the meanings
assigned to them in the Credit Agreement. 
  
 B. The Borrower has
requested that the Lenders extend the Activation Date for the Incremental Loans. The Lenders have agreed to such request, subject to the terms and conditions set forth herein. 
  
 NOW, THEREFORE, in consideration of the premises and the mutual covenants herein contained, the parties hereto hereby agree
as follows: 
  
 SECTION 1. Amendments to Credit Agreement.
The Credit Agreement is hereby amended as follows: 
  
 (a) In
Section 1.1 of the Credit Agreement, the definition of “Activation Date” is amended in its entirety to read as follows: 
  
 “‘Activation Date’: with respect to any Activation Notice presented hereunder, the date set forth therein as the
effective date of the portion of the Aggregate Incremental Loan Commitment to be activated pursuant thereto, which date must be during the period from and including the Closing Date to but excluding September 30, 2004.” 
  
 (b) Section 2.4(a) of the Credit Agreement is amended by deleting the
reference to “September 30, 2003” in the first sentence therein and substituting “September 30, 2004.” 
  
 SECTION 2. Conditions Precedent. This Amendment shall become effective as of the date first set forth above upon receipt by the Agent of the
following, in each case in form and substance satisfactory to the Agent: 

 (a) this Amendment, duly executed by the Borrower and consented to by the Majority
Lenders; 
  
 (b) evidence of the Guarantors’
consent to this Amendment; and 
  
 (c) such other
approvals, opinions, evidence and documents as any Lender, through the Agent, may reasonably request; and the Agent’s reasonable satisfaction as to all legal matters incident to this Amendment. 
  
 SECTION 3. Reference to and Effect on the Credit Agreement and the Other
Loan Documents. 
  
 (a) Upon the effectiveness of this
Amendment, each reference in the Credit Agreement to “this Agreement,” “hereunder,” “hereof,” “herein” or words of like import referring to the Credit Agreement, and each reference in the other Loan Documents
to “the Credit Agreement,” “thereunder,” “thereof,” “therein” or words of like import referring to the Credit Agreement, shall mean and be a reference to the Credit Agreement, as amended hereby. 
  
 (b) Except as specifically amended herein, the Credit Agreement and all other
Loan Documents are and shall continue to be in full force and effect and are hereby in all respects ratified and confirmed. 
  
 (c) The execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of the Agent or the Lenders
under the Credit Agreement or any other Loan Documents, nor constitute a waiver of any provision of the Credit Agreement or any other Loan Documents, except as specifically set forth herein. 
  
 (d) This Amendment shall constitute a “Loan Document”. 

 
 SECTION 4. Representations and Warranties. The Borrower hereby
represents and warrants, for the benefit of the Lenders and the Agent, as follows: (i) the Borrower has all requisite power and authority under applicable law and under its charter documents to execute, deliver and perform this Amendment, and to
perform the Credit Agreement as amended hereby; (ii) all actions, waivers and consents (corporate, regulatory and otherwise) necessary or appropriate for the Borrower to execute, deliver and perform this Amendment, and to perform the Credit
Agreement as amended hereby, have been taken and/or received; (iii) this Amendment, and the Credit Agreement, as amended by this Amendment, constitute the legal, valid and binding obligation of the Borrower enforceable against it in accordance with
the terms hereof; (iv) the execution, delivery and performance of this Amendment, and the performance of the Credit Agreement, as amended hereby, will not (a) violate or contravene any material Requirement of Law, (b) result in any material breach
or violation of, or constitute a material default under, any agreement or instrument by which the Borrower or any of its property may be bound, or (c) result in or require the creation of any Lien upon or with respect to any properties of the
Borrower, whether such properties are now owned or hereafter acquired; (v) the representations and warranties contained in the Credit Agreement and the other Loan Documents are correct in all material respects on and as of the date of this
Amendment, before and after giving effect to the same, as though made on and as of such date; and (vi) no Default has occurred and is continuing. 
  

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 SECTION 5. Execution in 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 to be an original and all of which taken together shall constitute but one and the same agreement. Delivery of an executed
counterpart of a signature page to this Amendment by telecopier shall be effective as delivery of a manually executed counterpart of this Amendment. 
  
 SECTION 6. Governing Law. This Amendment shall be governed by, and construed and interpreted in accordance with, the laws of the State of
California (without reference to its choice of law rules). 
  
 * *
* * 
  

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

	ENTRAVISION COMMUNICATIONS CORPORATION
		
	 By:
	 	     /s/ WALTER F. ULLOA

	 Name: Walter F. Ulloa

	 Title: Chairman and Chief Executive Officer

  

	UNION BANK OF CALIFORNIA, N.A., as Arranging Agent and as a Lender
		
	 By:
	 	     /s/ MATTHEW H. FLEMING

	 Name: Matthew H. Fleming

	 Title: Vice President

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