Document:

Amendment and Confirmation of Subordianation Agreements dated as of July 9, 2002

 EXHIBIT 10.11 
 AMENDMENT AND CONFIRMATION 
 OF SUBORDINATION AGREEMENTS 
 THIS AMENDMENT AND CONFIRMATION OF SUBORDINATION AGREEMENTS dated as of July 9, 2002 (this “Confirmation”), is made by ALTA
COMMUNICATIONS VIII, L.P., a Delaware limited partnership, ALTA-COMM VIII S BY S, LLC, a Delaware limited liability company, ALTA COMMUNICATIONS VIII-B, L.P., a Delaware limited partnership, ALTA VIII ASSOCIATES, LLC, a Delaware limited liability
company, CALIFORNIA STATE TEACHERS’ RETIREMENT SYSTEM, a component unit of the State of California organized under the California Education Code, BANCBOSTON INVESTMENTS, INC., a Massachusetts corporation, and UNIONBANCAL EQUITIES, INC., a
California corporation (collectively, the “Investor Subordinated Creditors”) and LBI HOLDINGS I, INC. (“Holdings I” and together with the Investor Subordinated Creditors, the “Subordinated
Creditors”), with and in favor of FLEET NATIONAL BANK, as Administrative Agent (the “Administrative Agent”) for itself and for the lenders (the “Lenders”) from time to time party to that certain Amended and
Restated Credit Agreement referred to below. 
 WHEREAS, LBI Media, Inc. (f/k/a LBI Holdings II, Inc.) (the “Borrower”) is a
party to the Credit Agreement dated as of March 20, 2001 (as heretofore amended, supplemented or otherwise modified, the “Existing Credit Agreement”) among the Borrower, the guarantors from time to time party thereto (the
“Guarantors”, and collectively with the Borrower, the “Credit Parties”), the lenders from time to time party thereto, Union Bank of California, N.A., as Syndication Agent, CIT Lending Services Corporation and General
Electric Capital Corporation, as Co-Documentation Agents, and Fleet National Bank, as Administrative Agent; 
 WHEREAS, in connection with
the Existing Credit Agreement, (A) the Investor Subordinated Creditors executed and delivered to the Administrative Agent that certain Investor Subordination Agreement dated as of March 20, 2001 (the “Investor Subordination
Agreement”), and (B) the Subordinated Creditors executed and delivered to the Administrative Agent that certain Subordination and Intercreditor Agreement dated as of March 20, 2001 (the “Intercreditor Agreement”);

 WHEREAS, the parties thereto have agreed to amend and restate the terms and conditions contained in the Existing Credit Agreement in their
entirety, pursuant to the Amended and Restated Credit Agreement dated as of the date hereof (as amended, supplemented or otherwise modified from time to time, including without limitation, any amendment which increases the lending commitments or
other direct or contingent indebtedness thereunder, together with any other replacement or successor agreement governing Indebtedness incurred to refund or refinance the borrowings and commitments then outstanding or permitted to be outstanding
under such agreement, in whole or in part, including any increase in the amount of Indebtedness thereunder, the “Amended and Restated Credit Agreement”) among the Borrower, the guarantors party thereto, the Lenders, certain other
parties, and the Administrative Agent; and 

 WHEREAS, it is a condition to the availability of credit under the Amended and Restated Credit Agreement
that the Subordinated Creditors shall have executed and delivered to the Administrative Agent this Confirmation and confirmed the subordination of the indebtedness and other obligations of the Credit Parties (as such term is defined in the Credit
Agreement) to the Subordinated Creditors; 
 NOW THEREFORE, in consideration of the willingness of the Administrative Agent and the Lenders
to enter into the Amended and Restated Credit Agreement and of the Lenders to agree, subject to the terms and conditions set forth therein, to make the Loans and issue Letters of Credit pursuant thereto, and for other good and valuable
consideration, receipt of which is hereby acknowledged, it is hereby agreed, with the intent to be legally bound, as follows: 
 1.
Amendments. The Investor Subordination Agreement and the Intercreditor Agreement are each hereby amended by providing that all references therein to the “Credit Agreement” shall be deemed to be references to the Amended and Restated
Credit Agreement. 
 2. Confirmation. Except to the extent specifically amended hereby and by the Holdings Amendment, the Investor
Subordination Agreement (as amended by the Holdings Agreement) and the Intercreditor Agreement (as amended by the Holdings Amendment) shall each remain in full force and effect and all of the terms and provisions thereof are hereby ratified and
confirmed in all respects. The Subordinated Creditors hereby acknowledge and confirm, for the benefit of the Administrative Agent and the Lenders and their respective successors and assigns, that all Indebtedness of the Credit Parties to the
Administrative Agent and the Lenders under the Amended and Restated Credit Agreement or any other Loan Documents, whether relating to principal, interest (including, without limitation, interest that accrues after the commencement of any bankruptcy
proceeding by or against any Credit Party or any of its subsidiaries and affiliates), premium and termination fees, expenses or other amounts due from time to time under the Loan Documents shall constitute “Senior Indebtedness” under each
of the Investor Subordination Agreement and the Intercreditor Agreement. 
 3. Miscellaneous. Unless otherwise defined, herein, all
capitalized terms shall have the meanings ascribed to them in the Amended and Restated Credit Agreement. This Confirmation may be executed in any number of counterparts, each of which, when delivered, shall be an original, but all counterparts shall
together constitute one instrument. This Confirmation shall be governed by the laws of the Commonwealth of Massachusetts and shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.

 [Remainder of page intentionally left blank] 

 IN WITNESS WHEREOF, the parties hereto have caused this Confirmation to be duly executed as of the date
first above written. 
  

			
	HOLDINGS I
	 LBI HOLDINGS I, INC. 
 a California
corporation

		
	By:	 	/s/ Lenard Liberman
	Name:	 	Lenard Liberman
	Title:	 	Executive Vice President
	
	THE INVESTOR SUBORDINATED CREDITORS:
	ALTA COMMUNICATIONS VIII, L.P.
		
	By:	 	Alta Communications VIII Managers, LLC, its General Partner
		
	By:	 	/s/ Eileen McCarthy
	Name:	 	Eileen McCarthy
	Title:	 	Member
	
	ALTA-COMM VIII S BY S, LLC
		
	By:	 	/s/ Eileen McCarthy
	Name:	 	Eileen McCarthy
	Title:	 	Member
	
	ALTA COMMUNICATIONS VIII-B, L.P.
		
	By:	 	Alta Communications VIII Managers, LLC, its General Partner
		
	By:	 	/s/ Eileen McCarthy
	Name:	 	Eileen McCarthy
	Title:	 	Member

			
	ALTA VIII ASSOCIATES, LLC
		
	By:	 	Alta Communications, Inc.
		
	By:	 	/s/ Eileen McCarthy
	Name:	 	Eileen McCarthy
	Title:	 	VP-Finance
	
	CALIFORNIA STATE TEACHERS’ RETIREMENT SYSTEM
		
	By:	 	/s/ Christopher J. Allman
	Name:	 	Christopher J. Allman
	Title:	 	Chief Investment Officer
	
	BANCBOSTON INVESTMENTS INC.
		
	By:	 	/s/ Lars A. Swanson
	Name:	 	Lars A. Swanson
	Title:	 	Director
	
	UNIONBANCAL EQUITIES, INC.
		
	By:	 	/s/J. Kevin Sampson   /s/ David Bonrouhi
	Name:	 	J. Kevin Sampson           David Bonrouhi
	Title:	 	Vice President                 Vice President

  

			
	Acknowledged and agreed:
	
	 FLEET NATIONAL BANK,
 individually
and as Administrative
 Agent for the Lenders

		
	By:	 	/s/ Garret Komjathy
	Name:	 	Garret Komjathy
	Title:	 	DirectorSecond Confirmation of Subordination Agreements dated as of July 11, 2004

 EXHIBIT 10.12 
 SECOND CONFIRMATION 
 OF SUBORDINATION AGREEMENTS 
 THIS SECOND CONFIRMATION OF SUBORDINATION AGREEMENTS dated as of July 11, 2004 (this “Confirmation”), is made by ALTA
COMMUNICATIONS VIII, L.P., a Delaware limited partnership, ALTA-COMM VIII S BY S, LLC, a Delaware limited liability company, ALTA COMMUNICATIONS VIII-B, L.P., a Delaware limited partnership, ALTA VIII ASSOCIATES, LLC, a Delaware limited liability
company, CALIFORNIA STATE TEACHERS’ RETIREMENT SYSTEM, a component unit of the State of California organized under the California Education Code, BANCBOSTON INVESTMENTS, INC., a Massachusetts corporation, and UNIONBANCAL EQUITIES, INC., a
California corporation (collectively, the “Subordinated Creditors”) and LBI HOLDINGS I, INC. (“Holdings”), with and in favor of CREDIT SUISSE FIRST BOSTON, as Administrative Agent (the “Administrative
Agent”) for itself and for the lenders (the “Lenders”) from time to time party to that certain Amended and Restated Credit Agreement referred to below. 
 WHEREAS, LBI Media, Inc. (f/k/a LBI Holdings II, Inc., the “Borrower”) is a party to the Amended and Restated Credit Agreement dated as
of July 9, 2002 (as heretofore amended, supplemented or otherwise modified, the “Existing Credit Agreement”) among the Borrower, the guarantors from time to time party thereto (the “Guarantors”, and
collectively with the Borrower, the “Credit Parties”), the lenders from time to time party thereto, U.S. Bank, N.A. and General Electric Capital Corporation, as Co-Syndication Agents, CIT Lending Services Corporation and SunTrust
Bank, as Co-Documentation Agents, and the Administrative Agent as successor to Fleet National Bank, predecessor administrative agent; 
 WHEREAS, in connection with the Existing Credit Agreement, the Subordinated Creditors executed and delivered to the Administrative Agent a Confirmation of Subordination Agreements confirming their obligations under (A) that certain
Investor Subordination Agreement dated as of March 20, 2001 (the “Investor Subordination Agreement”), and (B) that certain Subordination and Intercreditor Agreement dated as of March 20, 2001 (the
“Intercreditor Agreement”), in each case, as amended by the Holdings Amendment and the Holdings Second Amendment; 
 WHEREAS, the parties thereto have agreed to amend and restate the terms and conditions contained in the Existing Credit Agreement in their entirety, pursuant to the Amended and Restated Credit Agreement dated as of the date hereof (as
amended, supplemented or otherwise modified from time to time, including without limitation, any amendment which increases the lending commitments or other direct or contingent indebtedness thereunder, together with any other replacement or
successor agreement governing Indebtedness incurred to refund or refinance the borrowings and commitments then outstanding or permitted to be outstanding under such agreement, in whole or in part, including any increase in the amount of Indebtedness
thereunder, the “Amended and Restated Credit Agreement”) among the Borrower, the guarantors party thereto, the Lenders, certain other parties, and the Administrative Agent; and 
 WHEREAS, it is a condition to the availability of credit under the Amended and Restated 

 
Credit Agreement that the Subordinated Creditors shall have executed and delivered to the Administrative Agent this Confirmation and confirmed the
subordination of the indebtedness and other obligations of the Credit Parties (as such term is defined in the Credit Agreement) to the Subordinated Creditors; 
 NOW THEREFORE, in consideration of the willingness of the Administrative Agent and the Lenders to enter into the Amended and Restated Credit Agreement and of the Lenders to agree, subject to the terms and conditions
set forth therein, to make the Loans and issue Letters of Credit pursuant thereto, and for other good and valuable consideration, receipt of which is hereby acknowledged, it is hereby agreed, with the intent to be legally bound, as follows:

 1. Amendments. 
 (a) The Investor Subordination Agreement and the Intercreditor Agreement are each hereby amended by providing that all references therein to the “Credit Agreement” shall be deemed to be references to the Amended and Restated
Credit Agreement. 
 (b) Section 10 of the Investor Subordination Agreement is hereby amended by replacing each reference
therein to “The Commonwealth of Massachusetts” with “the State of New York” and each reference therein to “District of Massachusetts” with “Southern District of New York.” 
 (c) Sections 17(a) and 18 of the Intercreditor Agreement are hereby amended by replacing each reference therein to “Commonwealth of
Massachusetts” with “State of New York” and each reference therein to “District of Massachusetts” with “Southern District of New York.” 
 2. Confirmation. Except to the extent specifically amended hereby and subject to paragraph 3 below, the Investor Subordination Agreement and the Intercreditor Agreement shall each remain in full force and
effect and all of the terms and provisions thereof are hereby ratified and confirmed in all respects. The Subordinated Creditors hereby acknowledge and confirm, for the benefit of the Administrative Agent and the Lenders and their respective
successors and assigns, that all Indebtedness of the Credit Parties to the Administrative Agent and the Lenders under the Amended and Restated Credit Agreement or any other Loan Documents, whether relating to principal, interest (including, without
limitation, interest that accrues after the commencement of any bankruptcy proceeding by or against any Credit Party or any of its subsidiaries and affiliates), premium and termination fees, expenses or other amounts due from time to time under the
Loan Documents, shall constitute “Senior Indebtedness” under each of the Investor Subordination Agreement and the Intercreditor Agreement. 
 3. Alta Repayment. Notwithstanding the terms of the Investor Subordination Agreement or the Intercreditor Agreement to the contrary, on or within one Business Day after the Qualifying IPO Closing Date, Holdings
may make the Alta Repayment and take any other actions contemplated thereby and the Subordinated Creditors may accept such payment and take any other actions contemplated thereby and such payment and acceptance of payment and such actions shall not
be a breach of the Investor Subordination Agreement or the Intercreditor Agreement. On the Alta Repayment Date immediately after the Alta Repayment, subject to Section 15 of the Intercreditor Agreement, each of the Investor Subordination
Agreement and the Intercreditor Agreement shall be deemed to be terminated; provided that if at any time any amount received by the Subordinated 

 
Creditors in respect of the Subordinated Indebtedness (as defined in each of the Investor Subordination Agreement and the Intercreditor Agreement) is
rescinded or must otherwise be restored or returned by any Subordinated Creditor in respect of the Subordinated Indebtedness upon the insolvency, bankruptcy, dissolution, liquidation or reorganization of Holdings or any Credit Party or upon the
appointment of any intervenor or conservator of, or trustee or similar official for, Holdings or any Credit Party or for any substantial part of their properties, then the Investor Subordination Agreement and the Intercreditor Agreement shall be
reinstated as though the Alta Repayment had not been made. 
 4. Miscellaneous. Unless otherwise defined herein, all capitalized terms
shall have the meanings ascribed to them in the Amended and Restated Credit Agreement. This Confirmation may be executed in any number of counterparts, each of which, when delivered, shall be an original, but all counterparts shall together
constitute one instrument. This Confirmation shall be governed by the laws of the Commonwealth of Massachusetts and shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. 
 [Remainder of page intentionally left blank] 

 IN WITNESS WHEREOF, the parties hereto have caused this Confirmation to be duly executed as of the date
first above written. 
  

			
	HOLDINGS I
	 LBI HOLDINGS I, INC. 
 a California
corporation

		
	By:	 	/s/ Brett Zane
	Name:	 	Brett Zane
	Title:	 	Chief Financial Officer
	
	THE INVESTOR SUBORDINATED CREDITORS:
	ALTA COMMUNICATIONS VIII, L.P.
		
	By:	 	Alta Communications VIII Managers, LLC, its General Partner
		
	By:	 	/s/ Eileen McCarthy
	Name:	 	Eileen McCarthy
	Title:	 	Member
	
	ALTA-COMM VIII S BY S, LLC
		
	By:	 	/s/ Eileen McCarthy
	Name:	 	Eileen McCarthy
	Title:	 	Member
	
	ALTA COMMUNICATIONS VIII-B, L.P.
		
	By:	 	Alta Communications VIII Managers, LLC, its General Partner
		
	By:	 	/s/ Eileen McCarthy
	Name:	 	Eileen McCarthy
	Title:	 	Member

			
	ALTA VIII ASSOCIATES, LLC
		
	By:	 	Alta Communications, Inc.
		
	By:	 	/s/ Eileen McCarthy
	Name:	 	Eileen McCarthy
	Title:	 	VP-Finance
	
	CALIFORNIA STATE TEACHERS’ RETIREMENT SYSTEM
		
	By:	 	/s/ Christopher J. Allman
	Name:	 	Christopher J. Allman
	Title:	 	Chief Investment Officer
	
	BANCBOSTON INVESTMENTS INC.
		
	By:	 	/s/ Lars A. Swanson
	Name:	 	Lars A. Swanson
	Title:	 	Director
	
	UNIONBANCAL EQUITIES, INC.
		
	By:	 	/s/J. Kevin Sampson
	Name:	 	J. Kevin Sampson
	Title:	 	Vice President

  

			
	Acknowledged and agreed:
	
	 CREDIT SUISSE FIRST BOSTON,
 CAYMAN
ISLANDS BRANCH,
 as Administrative Agent for the Lenders

		
	By:	 	  
	Name:	 	
	Title:	 	

			
	Acknowledged and agreed:
	
	 CREDIT SUISSE FIRST BOSTON,
 CAYMAN
ISLANDS BRANCH,
 as Administrative Agent for the Lenders

		
	By:	 	/s/ Bill O’Daly
	Name:	 	Bill O’Daly
	Title:	 	Director
		
	By:	 	/s/ Doreen B. Welch
	Name:	 	Doreen B. Welch
	Title:	 	Associate

 [Signature Page to Second Confirmation of Subordination Agreements]

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