Document:

EX-10(I)(1.3)

 

Exhibit 10(i)(1.3)

EXECUTION COPY

SECOND AMENDMENT TO THE

CREDIT AGREEMENT

Dated as of July 26, 2004

          SECOND AMENDMENT (this “Amendment”) TO THE THIRD AMENDMENT AND
RESTATEMENT OF THE CREDIT AGREEMENT (the “Credit Agreement”) dated as
of November 17, 2003 among CINCINNATI BELL INC., an Ohio corporation
(“CBI”), and BCSI INC., a Delaware corporation (“BCSI”, and together
with CBI, each a “Borrower” and collectively the “Borrowers”), the
banks, financial institutions and other institutional lenders parties
thereto (the “Lenders”), BANK OF AMERICA, N.A., as syndication agent,
CITICORP USA, INC., as administrative agent (the “Administrative
Agent”), and the other agents party thereto.

          PRELIMINARY STATEMENTS:

          (1)     Capitalized terms not otherwise defined in this Amendment
have the same meanings as specified in the Credit Agreement.

          (2)     The Borrowers have requested that the Lenders amend certain
provisions of the Credit Agreement, as set forth below, to permit CBI
and/or one of its Subsidiaries to enter into an agreement to acquire all of the Equity Interests in
Wireless LLC that are not held by CBI and its Subsidiaries and subsequently to acquire such Equity
Interests; provided that the aggregate amount of the cash consideration paid in respect
thereof does not exceed $125,000,000 and any non-cash consideration paid in connection therewith is
permitted under the Credit Agreement.

          (3)     The Borrowers have also requested that the Lenders consent
to any amendment, waiver or other modification of the Operating
Agreement of Wireless LLC between AT&T Wireless PCS LLC and Wireless Holdco, as amended, dated
originally as of December 31, 1998, and the Company Agreement of Wireless Holdco, dated as
of June 2, 2002, in each case if entered into or delivered in connection with, and to the
extent necessary to consummate, the Wireless Acquisition (as defined in Section l(a)(i) below).

          (4)      The Lenders are willing to effect such amendments and to
grant such consent on the terms and subject to the conditions set forth
in this Amendment.

          SECTION 1. Amendment and Consent. Effective as of the Amendment
Effective Date (as defined below), and subject to the satisfaction of
the conditions precedent set forth in Section 2, the Required Lenders
hereby consent to the Wireless Acquisition and to the entry by CBI
and/or one of its Subsidiaries into the Wireless Acquisition
Agreement (as defined in Section l(a)(ii) below) and in connection
therewith:

          (a)      Section 1.01 of the Credit Agreement is hereby amended
to add each of the following definitions in its appropriate
alphabetical position:

     (i)     “Wireless Acquisition” means the acquisition by
CBI or one or more of its Subsidiaries of all of the Equity
Interests in Wireless LLC that are not held by CBI and

 

 

its Subsidiaries; provided that (i) the aggregate amount of the
cash consideration paid in respect thereof does not exceed
$125,000,000 and any non-cash consideration paid in connection
therewith is permitted under this Agreement and (ii) upon
consummation of the Wireless Acquisition, Wireless LLC shall be
a wholly-owned Subsidiary of CBI or its Subsidiaries.

     (ii)     ” Wireless Acquisition Agreement” means an
agreement entered into by CBI or one or more of its Subsidiaries
pursuant to which it has the right to acquire all of the Equity
Interests in Wireless LLC that are not held by CBI and its
Subsidiaries.

          (b)     Section 1.01 of the Credit Agreement is hereby amended by
inserting after the word “Obligations” in clause (g) of the definition of “Debt”
the following parenthetical: “(other than Obligations under the Wireless Acquisition
Agreement)”.

          (c)     Clause (i) of Section 5.02(f) of the Credit Agreement is
hereby amended by deleting the word “and” immediately preceding clause (D) and
inserting at the end of such clause (D) the phrase “and (E) the acquisition of Equity
Interests in Wireless LLC pursuant to the Wireless Acquisition Agreement and additional investments in or
capital contributions made to Subsidiaries to fund such acquisition or consisting of transfers
of such Equity Interests to one or more wholly-owned Subsidiaries of CBI; provided that (i) the
aggregate cash consideration paid in respect of such Equity Interests does not exceed $125,000,000
and any non-cash consideration paid in connection therewith is permitted under this Agreement
and (ii) upon consummation of the Wireless Acquisition, Wireless LLC shall be a wholly-owned
Subsidiary of CBI or its Subsidiaries.”

          (d)     The Required Lenders hereby for all purposes of the Loan
Documents consent to any amendment, waiver or other modification of the
Operating Agreement of Wireless LLC between AT&T Wireless PCS LLC and Wireless Holdco, as
amended, dated originally as of December 31, 1998, entered into or delivered in connection
with, and to the extent necessary to consummate, the Wireless Acquisition and waive any Default or
Event of Default that might otherwise exist as a result thereof.

          (e)     The Required Lenders hereby for all purposes of the Loan
Documents consent to any amendment, waiver or other modification of the
Company Agreement of Wireless Holdco, dated as of June 2, 2002, entered into or delivered in
connection with, and to the extent necessary to consummate, the Wireless Acquisition and waive any
Default or Event of Default that might otherwise exist as a result thereof (including but
not limited to the insertion after the word “Obligations” in clause (g) of the definition of
“Indebtedness” contained in Exhibit A thereto the following parenthetical: “(other than Obligations
under the Wireless Acquisition Agreement)”).

2

 

          SECTION 2. Conditions of Effectiveness. This Amendment shall
become effective on the date (the “Amendment Effective Date”) when the
Administrative Agent (or its counsel) shall have received counterparts
of this Amendment executed by the undersigned, the Subsidiary
Guarantors and the Required Lenders or, as to any of the Lenders,
advice satisfactory to the Administrative Agent that such Lender has
executed this Amendment, and when, and only when, each of the
following conditions precedent shall have been satisfied:

     (a)     The representations and warranties set forth in each of
the Loan Documents shall be correct in all material respects on and
as of the Amendment Effective Date, after giving effect to this Amendment, as though made
on and as of such date (except for any such representation and warranty that, by
its terms, refers to a specific date other than the Amendment Effective Date, in which case
as of such specific date, and except to the extent any breach of such representation
and warranty is waived under Section 1 above).

     (b)     After giving effect to this Amendment, no event shall
have occurred and be continuing that constitutes a Default or Event of
Default.

This Amendment is subject to the provisions of Sections 9.01 and 9.02
of the Credit Agreement.

          SECTION
3. Guaranty and Granting of Additional Collateral.
Upon consummation of the Wireless Acquisition, the Borrowers hereby
agree to comply and to cause Wireless LLC and its parent to comply
with the requirements of Section 5.01(j)(II) of the Credit
Agreement.

          SECTION 4. Effect on the Loan Documents, (a) The Credit
Agreement and the other Loan Documents are and shall continue to be
in full force and effect and are hereby in all respects ratified and
confirmed. Without limiting the generality of the foregoing, the
Collateral Documents and all of the Collateral described therein do
and shall continue to secure the payment of all Obligations of the
Loan Parties under the Loan Documents.

          (b) The execution, delivery and effectiveness of this Amendment
shall not, except as expressly provided herein, operate as a waiver
of any right, power or remedy of any Lender or the Administrative
Agent under any of the Loan Documents, nor constitute a waiver or
amendment of any provision of any of the Loan Documents.

          SECTION 5. Costs, Expenses. Each of the Borrowers hereby agrees
to pay on demand all reasonable costs and expenses of the
Administrative Agent in connection with the preparation, execution,
delivery and administration, modification and amendment of this
Amendment (including, without limitation, the reasonable fees and
expenses of counsel for the Administrative Agent) in accordance with
the terms of Section 9.05 of the Credit Agreement.

          SECTION 6. Execution in Counterparts. This Amendment may be
executed in any number of counterparts and by different parties hereto
in separate counterparts, each of which will 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.

3

 

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

[The remainder of this page intentionally left blank.]

4

 

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

	 	 	 	 	 
	

	 	CINCINNATI BELL INC.
	 
	 	 	 	 
	

	 	By
	 	[ILLEGIBLE]
	

	 	 	 	

	

	 	Name:
	

	 	Title:
	 
	 	 	 	 
	

	 	BCSI INC.
	 
	 	 	 	 
	

	 	By
	 	[ILLEGIBLE]
	

	 	 	 	

	

	 	Name:
	

	 	Title:

	 
	Agreed as of the date first above written:

CITICORP USA, INC.,
   as
Administrative Agent and as Lender

	 	 	 	 	 
	By

	 	 	 	 
	

	 	 
	Name:
	 	 	 	 
	Title:
	 	 	 	 

BANK OF AMERICA, N.A.,
   as
Syndication Agent and as Lender

	 	 	 	 	 
	By

	 	 	 	 
	

	 	 
	Name:
	 	 	 	 
	Title:<PAGE>
                                                                    EXHIBIT 4(a)

                                LETTER AGREEMENT

                                              December 4, 2003

Brush Engineered Materials Inc.
17876 St. Clair Avenue
Cleveland, Ohio 44110

         RE: POST CLOSING DELIVERIES OF BORROWER TO AGENT

Ladies and Gentlemen:

         Brush Engineered Materials Inc. ("Borrower"), Bank One, NA, as Agent
for the benefit of the Lenders named in the Credit Agreement (as herein defined)
("Agent"), and the other parties named therein entered into a Credit Agreement
dated as of the date hereof (the "Credit Agreement") and certain related
documents (the "Loan Documents"). In connection with the Credit Agreement, this
letter serves to acknowledge and confirm certain deliveries were required to be
made by Borrower prior to the closing of the transactions contemplated by the
Credit Agreement and the Loan Documents, which deliveries Agent has agreed to
permit to be satisfied on a post-closing basis in accordance with the terms and
conditions of this Letter Agreement. Borrower hereby agrees that Borrower shall
deliver certain items to Agent as set forth in Exhibit A attached hereto no
later than the dates specified with respect to such items in Exhibit A unless
such delivery is waived in writing by Agent. Except as set forth in Exhibit A,
all of the conditions set forth in Section 4.1 of the Credit Agreement have been
satisfied.

         Borrower, by acceptance hereof, acknowledges and agrees that Borrower's
failure to deliver the items set forth in Exhibit A on or prior to the dates
specified therein shall (except as may be specified in Exhibit A with respect
particular items) constitute a Default under the Credit Agreement and all
related Loan Documents. Capitalized terms not defined herein shall have the
meanings ascribed to such terms in the Credit Agreement.

                                     Very truly yours,

                                     BANK ONE, NA, AS AGENT

                                     By: /s/ JOSEPH J. VIRZI
                                         --------------------------------------
                                         Joseph J. Virzi, Senior Vice President

Acknowledged and Agreed:

BRUSH ENGINEERED MATERIALS INC.

By: /s/ GARY SCHIAVONI
    -------------------------------
Name: Gary Schiavoni
      -----------------------------
Title: Assistant Treasurer
       ----------------------------

<PAGE>

                                    EXHIBIT A

                             Post-Closing Deliveries

1.   A release or estoppel certificate and subordination agreement within 120
     days of closing from KeyBank, successor to the interests of Ameritrust
     Company, as Trustee under the Indenture of Trust dated July 15, 1980, filed
     on March 15, 1989, and recorded as Entry 72403, Book 225, Pages 169-251 in
     the Office of the Millard County Recorder, from the County of Millard,
     Utah, Issuer to Ameritrust Company, as Trustee.

2.   Within 90 days of closing, consent to the filing of Agent's mortgage by the
     Niagara County Industrial Development Agency ("Niagara") pursuant to the
     Lease Agreement dated March 1, 1999 between Niagara and Williams Advanced
     Materials, Inc. ("Williams") as recorded on March 12, 1999 in Liber 2906 of
     Deeds at Page 334 of the Niagara County, New York real estate records (the
     "New York Lease").

3.   Within 120 days of closing, a subordination and non-disturbance agreement
     among Borrower, Agent, and The Toledo-Lucas County Port Authority as ground
     lessee pursuant to the Ground Lease Agreement dated October 6, 1996 of a
     portion of the property located in Ottawa County, Ohio.

4.   Within 120 days of closing, a subordination and non-disturbance agreement
     among Borrower, Agent, and National City Bank, as assignee of that certain
     Lease dated as of October 1, 1996 between the Toledo-Lucas County Port
     Authority as lessor and Borrower as lessee.

5.   On or before December 15, 2004, replacement of the letter of credit with
     regard to Borrower's Lorain County, Ohio property and issuance/execution
     and/or delivery of all opinions, amendments, modifications, consents, and
     any other documents in connection therewith.

6.   On or before December 15, 2004, replacement of the letter of credit with
     regard to Borrower's Pima County, Arizona property and issuance/execution
     and/or delivery of all opinions, amendments, modifications, consents, and
     any other documents in connection therewith.

7.   On or before December 15, 2004, the NCB Letters of Credit and the Fifth
     Third Letter of Credit, as those terms are defined in the Payoff Letter
     dated December 4, 2003, should be replaced with Bank letters of credit.

<PAGE>
               LIMITED WAIVER UNDER POST-CLOSING LETTER AGREEMENT

                                  April 1, 2004

Brush Engineered Materials Inc.
17876 St. Clair Avenue
Cleveland, Ohio  44110

     Re:  Letter Agreement, dated December 4, 2003, between Bank One, NA, as
          Agent (the "Agent"), and Brush Engineered Materials Inc., as Borrower
          (the "Borrower")

Ladies and Gentlemen:

         Reference is made to that certain Letter Agreement, dated as of
December 4, 2003 (a copy of which is attached hereto as Exhibit A, the "Letter
Agreement"), between the Borrower and the Agent with respect to the Borrower's
agreement to deliver certain items on a post-closing basis under the Credit
Agreement, dated as of December 4, 2003 (the "Credit Agreement"), among the
Borrower, the Agent, the other Loan Parties and Lenders party thereto from time
to time, LaSalle Bank National Association, as documentation agent, and Banc One
Capital Markets, Inc., as lead arranger and sole book runner. Capitalized terms
used but not defined herein shall have the meanings given to them in the Credit
Agreement

         Borrower and Agent hereby acknowledge and agree that Borrower has
delivered to the Agent the items set forth in numbers 2, 5 and 6 of Exhibit A to
the Letter Agreement. At the request of the Borrower, the Agent hereby waives
the requirement that Borrower ever deliver the item set forth in number 4 of
Exhibit A to the Letter Agreement, and hereby waives any Unmatured Default or
Default that might otherwise occur under the Credit Agreement or any other Loan
Document with respect Borrower's failure to deliver such item. At the further
request of the Borrower, the Agent hereby extends the time periods during which
the Borrower may deliver the items set forth in numbers 1 and 3 of Exhibit A to
the Letter Agreement for an additional 30 days beyond the time periods set forth
in the Letter Agreement, and during such additional 30-day period, hereby waives
any Unmatured Default or Default that might otherwise occur under the Credit
Agreement or any other Loan Document with respect to Borrower's failure to
deliver such items.

         The waivers set forth herein are limited to the express terms hereof,
and nothing contained herein shall be construed as an agreement by the Agent to
make any further waivers or extensions of any of the obligations of the Borrower
or any other Loan Party under the Letter Agreement or the Credit Agreement.

                                           Very truly yours,

                                           BANK ONE, NA, as Agent

                                           By: /s/ L. SKINNER
                                               ---------------------------------
                                           Its: Director
                                                --------------------------------

Acknowledged and Agreed:

BRUSH ENGINEERED MATERIALS INC.

By: /s/ MICHAEL C. HASYCHAK
    ------------------------------------------
Its: Vice President and Treasury and Secretary
     -----------------------------------------

<PAGE>
            SECOND LIMITED WAIVER UNDER POST-CLOSING LETTER AGREEMENT

                                   May 3, 2004

Brush Engineered Materials Inc.
17876 St. Clair Avenue
Cleveland, Ohio  44110

         Re:      Letter Agreement, dated December 4, 2003, between Bank One,
                  NA, as Agent (the "Agent"), and Brush Engineered Materials
                  Inc., as Borrower (the "Borrower")

Ladies and Gentlemen:

         Reference is made to that certain Letter Agreement, dated as of
December 4, 2003 (as amended, the "Letter Agreement"), between the Borrower and
the Agent with respect to the Borrower's agreement to deliver certain items on a
post-closing basis under the Credit Agreement, dated as of December 4, 2003 (as
amended, the "Credit Agreement"), among the Borrower, the Agent, the other Loan
Parties and Lenders party thereto from time to time, LaSalle Bank National
Association, as documentation agent, and Banc One Capital Markets, Inc., as lead
arranger and sole book runner. Capitalized terms used but not defined herein
shall have the meanings given to them in the Credit Agreement

         At the request of the Borrower, the Agent hereby extends to time period
during which the Borrower may deliver the items set forth in numbers 1 and 3 of
Exhibit A to the Letter Agreement until June 30, 2004, and during such time
period, hereby waives any Unmatured Default or Default that might otherwise
occur under the Credit Agreement or any other Loan Document with respect to
Borrower's failure to deliver such items. In addition, in lieu of the items
listed in number 1 of Exhibit A to the Letter Agreement, the Agent agrees to
accept an Officer's Certificate from Borrower substantially in the form of
Exhibit 1 hereto.

         The waivers and modifications set forth herein are limited to the
express terms hereof, and nothing contained herein shall be construed as an
agreement by the Agent to make any further waivers or modifications of any of
the obligations of the Borrower or any other Loan Party under the Letter
Agreement or the Credit Agreement.

                                                   Very truly yours,

                                                   BANK ONE, NA, as Agent

                                                   By: /s/ L. SKINNER
                                                      --------------------------
                                                   Its: Director
                                                       -------------------------

Acknowledged and Agreed:

BRUSH ENGINEERED MATERIALS INC.

By: MICHAEL C. HASYCHAK
   -----------------------------
Its: V.P. Treasury Secretary
    ----------------------------

<PAGE>

                                    EXHIBIT 1

                          FORM OF OFFICER'S CERTIFICATE

                                  See attached.

<PAGE>

                         BRUSH ENGINEERED MATERIALS INC.

                       CERTIFICATE OF ASSISTANT TREASURER

         This Certificate of Assistant Treasurer (this "Certificate") is being
delivered to Bank One, N.A., as Agent, in connection with that certain Credit
Agreement, dated as of December 4, 2003 (as amended, the "Credit Agreement"), by
and among Brush Engineered Materials Inc. (the "Company"), the Agent, the other
Loan Parties and Lenders party thereto from time to time, LaSalle Bank National
Association, as documentation agent, and Banc One Capital Markets, Inc., as lead
arranger and sole book runner. Capitalized terms used but not defined in this
Certificate shall have the meanings given to them in the Credit Agreement. The
undersigned hereby certifies to Agent as follows:

         1. I am an Assistant Treasurer of the Company, and I am familiar with
the facts stated in this Certificate.

         2. To my knowledge, after review of the Company's records, the
indebtedness evidenced by that certain Indenture of Trust, dated June 15, 1980,
from the County of Millard, Utah, as issuer, to Ameritrust Company, as trustee,
a copy of which was filed on March 15, 1989 and recorded as Entry 72403, Book
225, Pages 169-251 in the Office of the Millard County Recorder, has been
satisfied in full.

Dated:                                           /s/ GARY W. SCHIAVONI
      ------------------------                   -------------------------------
                                                 Gary W. Schiavoni
                                                 Assistant Treasurer
                                                 Brush Engineered Materials Inc.

<PAGE>

            THIRD LIMITED WAIVER UNDER POST-CLOSING LETTER AGREEMENT

                                  June 30, 2004

Brush Engineered Materials Inc.
17876 St. Clair Avenue
Cleveland, Ohio  44110

   Re:  Letter Agreement, dated December 4, 2003, between Bank One, NA, as Agent
        (the "Agent"), and Brush Engineered Materials Inc., as Borrower (the
        "Borrower")

Ladies and Gentlemen:

         Reference is made to that certain Letter Agreement, dated as of
December 4, 2003 (as amended, the "Letter Agreement"), between the Borrower and
the Agent with respect to the Borrower's agreement to deliver certain items on a
post-closing basis under the Credit Agreement, dated as of December 4, 2003 (as
amended, the "Credit Agreement"), among the Borrower, the Agent, the other Loan
Parties and Lenders party thereto from time to time, LaSalle Bank National
Association, as documentation agent, and Banc One Capital Markets, Inc., as lead
arranger and sole book runner. Capitalized terms used but not defined herein
shall have the meanings given to them in the Credit Agreement

         At the request of the Borrower, the Agent hereby extends the time
period during which the Borrower may deliver the items set forth in paragraph 3
of Exhibit A to the Letter Agreement until August 31, 2004, and during such time
period, hereby waives any Unmatured Default or Default that might otherwise
occur under the Credit Agreement or any other Loan Document with respect to
Borrower's failure to deliver such items.

         The waivers and modifications set forth herein are limited to the
express terms hereof, and nothing contained herein shall be construed as an
agreement by the Agent to make any further waivers or modifications of any of
the obligations of the Borrower or any other Loan Party under the Letter
Agreement or the Credit Agreement.

                                          Very truly yours,

                                          BANK ONE, NA, as Agent

                                          By: /s/ LINDA SKINNER
                                              ------------------
                                          Its: Director
                                              ------------------
Acknowledged and Agreed:

BRUSH ENGINEERED MATERIALS INC.

By:  /s/ GARY SCHIAVONI
    ------------------------
Its: Assistant Treasurer and
    ------------------------
     Assistant Secretary
<PAGE>

            FOURTH LIMITED WAIVER UNDER POST-CLOSING LETTER AGREEMENT

                                  July 6, 2004

Brush Engineered Materials Inc.
17876 St. Clair Avenue
Cleveland, Ohio  44110

   Re:  Letter Agreement, dated December 4, 2003, between Bank One, NA, as Agent
        (the "Agent"), and Brush Engineered Materials Inc., as Borrower (the
        "Borrower")

Ladies and Gentlemen:

         Reference is made to that certain Letter Agreement, dated as of
December 4, 2003 (as amended, the "Letter Agreement"), between the Borrower and
the Agent with respect to the Borrower's agreement to deliver certain items on a
post-closing basis under the Credit Agreement, dated as of December 4, 2003 (as
amended, the "Credit Agreement"), among the Borrower, the Agent, the other Loan
Parties and Lenders party thereto from time to time, LaSalle Bank National
Association, as documentation agent, and Banc One Capital Markets, Inc., as lead
arranger and sole book runner. Capitalized terms used but not defined herein
shall have the meanings given to them in the Credit Agreement

         At the request of the Borrower, the Agent hereby waives the requirement
that the Borrower ever deliver the item set forth in paragraph 3 of Exhibit A to
the Letter Agreement, and hereby waives any Unmatured Default or Default that
might otherwise occur under the Credit Agreement or any other Loan Document with
respect to the Borrower's failure to deliver such item.

         The waivers and modifications set forth herein are limited to the
express terms hereof, and nothing contained herein shall be construed as an
agreement by the Agent to make any further waivers or modifications of any of
the obligations of the Borrower or any other Loan Party under the Letter
Agreement or the Credit Agreement.

                                          Very truly yours,

                                          BANK ONE, NA, as Agent

                                          By: /s/ LINDA SKINNER
                                              ------------------
                                          Its: DIRECTOR
                                              ------------------
Acknowledged and Agreed:

BRUSH ENGINEERED MATERIALS INC.

By:  /s/ MICHAEL C. HASYCHAK
    --------------------------
Its: V.P. TREASURY & SECRETARY
    --------------------------

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