Document:

Supplemental Indenture, dated as of December 27, 2006

 Exhibit 4.2 
 EXECUTION COPY 
  

 LEVEL 3 COMMUNICATIONS, INC., 
 as Guarantor, 
 LEVEL 3 FINANCING, INC., 
 as
Issuer, 
 and 
 THE
BANK OF NEW YORK, 
 as Trustee 
  

 Supplemental Indenture 
 Dated as of December 27, 2006 
  

 10.750% Senior Notes Due 2011 
  

  

 SUPPLEMENTAL INDENTURE 
 SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of December 27, 2006, among LEVEL 3 FINANCING, INC., a Delaware
corporation (the “Issuer”), LEVEL 3 COMMUNICATIONS, INC., a Delaware corporation (“Parent”), LEVEL 3 COMMUNICATIONS, LLC, a Delaware limited liability company (“Level 3 LLC”), and THE BANK OF NEW
YORK, a New York banking corporation, as trustee under the Indenture referred to below (the “Trustee”). 
 WHEREAS, the
Issuer, Parent and the Trustee have heretofore executed and delivered (a) an Indenture dated as of October 1, 2003 (as supplemented, the “Indenture”), providing for the issuance by the Issuer of its 10.75% Senior Notes due
2011 (the “Securities”), (b) a Supplemental Indenture dated October 20, 2004, pursuant to which Level 3 LLC has guaranteed the Issuer’s obligations under the Indenture (the “Subordinated Guarantee”),
and (c) a Supplemental Indenture dated December 1, 2004, pursuant to which all obligations in respect of any amounts payable by Level 3 LLC pursuant to the Subordinated Guarantee were subordinated in right of payment to the prior payment
of certain other obligations of Level 3 LLC; 
 WHEREAS, the Issuer issued originally $500 million aggregate principal amount of the
Securities; 
 WHEREAS, Section 902 of the Indenture provides that the Indenture may be amended with the consent of the Holders of at
least a majority in principal amount of the Securities then outstanding (including consents obtained in connection with a tender offer for the purchase of the Securities), subject to certain exceptions; 
 WHEREAS, the execution and delivery of this Supplemental Indenture has been authorized by the Board of Directors of the Issuer, Parent and Level 3 LLC;
and 
 WHEREAS, the Issuer has (i)(a) received the consent of the holders of a majority in principal amount of the outstanding Securities to
the elimination of substantially all of the covenants, certain repurchase rights and certain events of default and related provisions contained in the Indenture and (b) has satisfied all other conditions precedent, if any, provided under the
Indenture to enable the Issuer, Parent, Level 3 LLC and the Trustee to enter into this Supplemental Indenture, all as certified by an Officers’ Certificate, delivered to the Trustee simultaneously with the execution and delivery of this
Supplemental Indenture as contemplated by Sections 603 and 903 of the Indenture, and (ii) the Issuer has delivered to the Trustee simultaneously with the execution and delivery of this Supplemental Indenture an Opinion of Counsel relating to
this Supplemental Indenture as contemplated by Sections 102 and 903 of the Indenture. 
 NOW, THEREFORE, in consideration of the
premises and for other good and valuable consideration the receipt and sufficiency of which is hereby acknowledged, the Issuer, Parent, Level 3 LLC and the Trustee for the benefit of each other and for the equal and ratable benefit of the Holders of
the Securities agree as follows: 
 ARTICLE I. 
 EFFECTIVENESS AND EFFECT 
 Section 1.1 Effectiveness and Effect. 
 This Supplemental Indenture shall take effect on the date hereof, provided, however, that the amendments provided for in Article Two hereof shall only
become operative if an aggregate principal amount of Securities exceeding $250,000,000 is accepted by the Issuer for payment on the Initial Payment Date (as defined in that certain Offer to Purchase and Consent Solicitation Statement of the Issuer,
dated December 13, 2006), and such amendments provided for in Article Two hereof shall have no force or effect prior to the operative time specified in this Section. Subject to the foregoing, the provisions set forth in this Supplemental
Indenture shall be deemed to be, and shall be construed as part of, the Indenture. All references to the Indenture in the Indenture or in any other 

 
agreement, document or instrument delivered in connection therewith or pursuant thereto shall be deemed to refer to the Indenture as amended by this
Supplemental Indenture. Except as amended hereby, the Indenture shall remain in full force and effect. 
 ARTICLE II. 
 AMENDMENT OF THE INDENTURE 
 Section 2.1
Deletion of Definitions and Related References 
 Section 101 of the Indenture is hereby amended to delete in their entirety all
terms and their respective definitions for which all references are eliminated in the Indenture as a result of the amendments set forth in this Article Two of this Supplemental Indenture. 
 Section 2.2 Amendments to Indenture. 
 The
Indenture is hereby amended by deleting the following sections of the Indenture and all references thereto in the Indenture in their entirety and replacing each such section with the term “INTENTIONALLY OMITTED”: 
 Section 1004 (Corporate Existence); 
 Section 1005 (Maintenance of Properties); 
 Section 1006 (Insurance); 
 Section 1007 (Reports); 
 Section 1008 (Statement by Officers as to Default); 
 Section 1010 (Limitation on Consolidated Debt); 
 Section 1011 (Limitation on Debt of the Issuer and Issuer Restricted Subsidiaries); 
 Section 1012 (Limitation on Restricted Payments); 
 Section 1013 (Limitation on Dividend and Other Payment Restrictions Affecting Restricted Subsidiaries); 
 Section 1014 (Limitation on Liens); 
 Section 1015 (Limitation on Sale and Leaseback Transactions); 
 Section 1016 (Limitation on Asset Dispositions); 
 Section 1017 (Limitation on Issuance and Sales of Capital Stock of Restricted Subsidiaries); 
 Section 1018 (Transactions
with Affiliates); 
 Section 1019 (Limitation on Designations of Unrestricted Subsidiaries); 
 Section 1021 (Covenant Suspension); 
 Section 501(4), (6) and (7) (Events of Default); 
 Section 801(3) and (4) (Parent May Consolidate, etc.,
Only on Certain Terms); and 
 Section 803(3) and (4) (Issuer May Consolidate, etc., Only on Certain Terms). 
 ARTICLE III. 
 MISCELLANEOUS

 Section 3.1 Counterparts. 
 This Supplemental Indenture may be executed in counterparts, each of which when so executed shall be deemed to be an original, but all such counterparts shall together constitute one and the same instrument. 
  

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 Section 3.2 Severability. 
 In the event that any provision in this Supplemental Indenture shall be held to be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be
affected or impaired thereby. 
 Section 3.3 Headings. 
 The article and section headings herein are for convenience only and shall not affect the construction hereof. 
 Section 3.4 Successors and Assigns. 
 Any covenants and agreements in this Supplemental Indenture by the Issuer, Parent,
Level 3 LLC and the Trustee shall bind their successors and assigns, whether so expressed or not. 
 Section 3.5 Governing Law. 
 THIS SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK BUT 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. 
 Section 3.6 Effect of Supplemental Indenture. 
 Except as amended by this Supplemental Indenture, the terms and
provisions of the Indenture shall remain in full force and effect. 
 Section 3.7 Trustee. 
 Each of the Issuer and Parent hereby acknowledge and agree to comply with their reporting obligations under the Trust Indenture Act of 1939. The Trustee
assumes no responsibility for the correctness of the recitals herein contained, which shall be taken as the statements of the Issuer, and the Trustee shall not be responsible or accountable in any way whatsoever for or with respect to the validity
or execution or sufficiency of this Supplemental Indenture, and the Trustee makes no representation with respect thereto. 
 Section 3.8 Endorsement
and Change of Form of Securities. 
 Any Securities authenticated and delivered after the close of business on the date that this
Supplemental Indenture becomes effective may be affixed to, stamped, imprinted or otherwise legended by the Trustee, with a notation as follows: 
 “Effective as of December 28, 2006, certain restrictive covenants of the Indenture and certain of the Events of Default have been eliminated, as provided in the Supplemental Indenture, dated as of
December 27, 2006. Reference is hereby made to said Supplemental Indenture, copies of which are on file with the Trustee, for a description of the amendments made therein.” 
 Section 3.8 Definitions. 
 Capitalized terms used but not defined herein shall have the
respective meanings ascribed to them in the Indenture. 
  

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 IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed by
their respective officers hereunto duly authorized, all as of the day and year first above written. 
  

			
	LEVEL 3 FINANCING, INC.
		
	By:	 	 /s/ Thomas C. Stortz

	Name:	 	Thomas C. Stortz
	Title:	 	Executive Vice President and Chief Legal Officer
	
	LEVEL 3 COMMUNICATIONS, INC.
		
	By:	 	 /s/ Neil J. Eckstein

	Name:	 	Neil J. Eckstein
	Title:	 	Senior Vice President and Assistant General Counsel
	
	LEVEL 3 COMMUNICATIONS, LLC
		
	By:	 	 /s/ Neil J. Eckstein

	Name:	 	Neil J. Eckstein
	Title:	 	Senior Vice President and Assistant General Counsel
	
	THE BANK OF NEW YORK, as Trustee
		
	By:	 	 /s/ Geovanni Barris

	Name:	 	Geovanni Barris
	Title:	 	Vice PresidentSecond Amendment and Consent

 Exhibit 10.1 
 EXECUTION COPY 
 SECOND AMENDMENT AND CONSENT 
 SECOND AMENDMENT AND CONSENT, dated as of December 21, 2006 (this “Amendment”), to the Credit Agreement, dated as of
March 1, 2005 (the “Credit Agreement”), among EYE CARE CENTERS OF AMERICA, INC., a Texas corporation (as successor to LFS-MERGER SUB, INC., a Texas corporation) (the “Borrower”), ECCA HOLDINGS CORPORATION, a
Delaware corporation (“Holdings”), the several banks and other financial institutions or entities from time to time parties thereto (the “Lenders”), BANK OF AMERICA, N.A. and MERRILL LYNCH, PIERCE, FENNER &
SMITH INCORPORATED, as co-syndication agents (in such capacity, the “Co-Syndication Agents”), and JPMORGAN CHASE BANK, N.A., as administrative agent (the “Administrative Agent”). 
 W I T N E S S E T H : 
 WHEREAS, Holdings, the Borrower, the Lenders, the Co-Syndication Agents and the Administrative Agent are parties to the Credit Agreement; 
 WHEREAS, the Borrower has requested that the Lenders and the Administrative Agent agree to amend the Credit Agreement in the manner set forth herein, and
the Lenders parties hereto and the Administrative Agent are willing to do subject to the conditions set forth herein; and 
 WHEREAS, the
Lenders parties hereto have agreed to such requests, but only upon the terms and conditions set forth herein. 
 NOW, THEREFORE, the parties
hereto agree as follows: 
 Definitions. Terms defined in the Credit Agreement are used herein with the respective meanings given to
them therein. 
 Amendments to Section 1.1. Section 1.1 of the Credit Agreement is hereby amended as follows: 
 (a) by amending the definition of “Applicable Margin” to read in its entirety as follows (it being understood that said definition as so amended
will only apply to accruals of the commitment fee from and after the Second Amendment Effective Date). 
 “Applicable
Margin”: for (a) Revolving Loans and Swingline Loans, the rate per annum determined pursuant to the Pricing Grid and (b) for the Term Loans as follows. 

							
	 	  	ABR Loans	 	 	Eurodollar Loans	 
	 Term Loans
	  	1.50	%	 	2.50	%

 (b) by inserting in the definition of “Consolidated EBITDA” immediately preceding the
word “minus” the following: 
 “and (n) costs, fees, expenses, charges and any one time payments relating to
the HVHC Transaction (as defined in the First Amendment and Consent dated as of June 29, 2006) to this Agreement) not exceeding $9,000,000.” 
 Amendment to Section 3.3. Section 3.3(a) of the Credit Agreement is hereby amended by deleting the fronting fee percentage of “0.25%” and inserting in lieu thereof the percentage
“0.125%” (it being understood that said Section as so amended will only apply to accruals of the fronting fee from and after the Second Amendment Effective Date). 
 Amendment to Section 7.7. Section 7.7 of the Credit Agreement is hereby amended by deleting the word “and” at the end of
clause (A) thereof and inserting in lieu thereof a comma and by deleting clause (B) thereof in its entirety and inserting in lieu thereof the following: 
 “(B) $18,000,000, for the fiscal year of the Borrower ending on December 31, 2006 and (C) $22,000,000, for the fiscal year of the Borrower ending on December 31, 2007 and each fiscal year
thereafter.” 
 For the avoidance of doubt, the proviso following the existing clause (B) shall remain in effect and shall follow the new clause
(C). 
 Amendment to Section 10.2. Holdings’ address in Section 10.2 of the Credit Agreement is hereby amended to read
in its entirety as follows: 
 Eye Care Centers of America, Inc. 
 c/o Highmark Inc. Legal Department 
 120 Fifth Avenue 
 Pittsburgh, PA 15222 
 Telecopy: (412) 544-7423 
 Telephone: (412)544-7000 
 Additional Prepayment. In addition to the prepayment contemplated by
Section 9(b)(ii) of this Amendment, the Borrower shall make a prepayment of the Term Loans under Section 2.10 of the Credit Agreement within five Business Days after the delivery by it of its audited financial statements for its fiscal
year ending December 31, 2006 in an amount equal to the cash and cash equivalents on its consolidated balance sheet as at such date less $5,000,000. In consideration of its agreement to make such prepayment and the prepayment contemplated by
Section 9(b)(ii) of this Amendment, the Borrower shall not be required to make any prepayment under Section 2.11(c) of the Credit Agreement on account of its Excess Cash Flow (if any) for its 

 fiscal year ending December 31, 2006. Any prepayment made as contemplated in this Amendment (including in
Section 9(b)(ii) of this Amendment) shall not be subject to any minimum notice or minimum or integral amount requirement specified for prepayments under the Credit Agreement. 
 Consent to Non-Ratable Prepayment. Notwithstanding any provision of the Credit Agreement to the contrary, the Borrower may, in lieu of making any
equivalent part of the prepayment contemplated by Section 9(b)(ii) of this Amendment, prepay in full the Term Loans held on the Second Amendment Effective Date by, and only by, Lenders that have not executed and delivered this Amendment by such
date, so long as, after giving effect to the prepayment of such Term Lenders, all of the remaining Lenders have executed and delivered this Amendment. 
 Conditions to Effectiveness. (a) This Amendment (other than Sections 2(a) and 7 of this Amendment) shall become effective as of and on the date (such date, the “Second Amendment Effective
Date”) on which the following shall have occurred: 
 (i) the Administrative Agent shall have received counterparts
hereof duly executed by Holdings, the Borrower, the Administrative Agent and the Required Lenders; and 
 (ii) the Borrower
shall have paid to the Administrative Agent, (x) for the account of each Lender that executed and delivered the Amendment by 5:00p.m. (New York City time) on December 20, 2006, an amendment fee of up to 0.05% of the sum of the outstanding
Term Loans of such Lender and its Revolving Commitment as determined by the Administrative Agent, payable and computed on the Second Amendment Effective Date and (y) for the account of the Administrative Agent any fees and expenses that may
have been required pursuant to a Fee Letter between the Borrower and the Administrative Agent or any of its affiliates. 
 (b)
Sections 2(a) and 7 of this Amendment shall also become effective as of and on the Second Amendment Effective Date if on such date the following shall have occurred: 
 (i) the Required Lenders and each of the Term Lenders, after giving effect to any prepayment on such date of certain Term Lenders as
permitted by Section 7 of this Amendment, shall have executed and delivered this Second Amendment; and 
 (ii) the
Borrower shall have made, subject to Section 7 of this Amendment, a prepayment of the Term Loans in the amount of $25,000,000 under Section 2.10 of the Credit Agreement. 
 Representations and Warranties; No Default. Each of Holdings and the Borrower hereby confirms that after giving effect to this Amendment each of
the representations and warranties set forth in the Loan Documents is true and correct in all material respects (except those representations and warranties that specifically refer to an earlier date, which representations and warranties shall be
true and correct in all material respects as of such earlier date). Each of Holdings and the Borrower represents and warrants that, after giving effect to this Amendment, no Default or Event of Default has occurred and is continuing. 

 Expenses. The Borrower agrees (a) to pay all fees agreed between the Administrative Agent and
the Borrower with respect to this Amendment and (b) reimburse the Administrative Agent for all its reasonable out-of-pocket costs and expenses incurred in connection with the preparation and delivery of this Amendment, including, without
limitation, the reasonable fees, charges and disbursements of counsel to the Administrative Agent. 
 No Change. Except as expressly
provided herein, no term or provision of the Credit Agreement shall be amended, modified, supplemented or waived, and each term and provision of the Credit Agreement shall remain in full force and effect. 
 Counterparts. This Amendment may be executed by the parties hereto in any number of separate counterparts, and all of said counterparts taken
together shall be deemed to constitute one and the same instrument. 
 Governing Law. This Amendment and the rights and obligations of
the parties hereunder shall be governed by, and construed and interpreted in accordance with, the laws of the State of New York. 
 [Remainder
of page intentionally left blank] 

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

			
	EYE CARE CENTERS OF AMERICA, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	ECCA HOLDINGS CORPORATION
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	JPMORGAN CHASE BANK, N.A., as Administrative Agent
		
	By:	 	  

	Name:	 	
	Title:	 	

  

			
	SIGNATURE PAGE TO THE SECOND AMENDMENT AND CONSENT, DATED AS OF DECEMBER 21, 2006 TO THE CREDIT AGREEMENT, DATED AS OF MARCH 1, 2005, AMONG EYE CARE CENTERS OF AMERICA, INC., ECCA
HOLDINGS CORPORATION, THE LENDERS FROM TIME TO TIME PARTIES THERETO, JPMORGAN CHASE BANK, N.A., AS ADMINISTRATIVE AGENT AND THE OTHER AGENTS PARTIES THERETO.
	
	[NAME OF INSTITUTION]
		
	By:	 	  

	Name:	 	
	Title:

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