Document:

mcccl-ex101_635.htm

 

Exhibit 10.1

**********************************************************

 

INCREMENTAL FACILITY AGREEMENT

TRANCHE A TERM LOANS 

 

dated as of December 17, 2015

among

 

MEDIACOM ILLINOIS LLC

MEDIACOM INDIANA LLC

MEDIACOM IOWA LLC

MEDIACOM MINNESOTA LLC

MEDIACOM WISCONSIN LLC

ZYLSTRA COMMUNICATIONS CORP.

MEDIACOM ARIZONA LLC

MEDIACOM CALIFORNIA LLC

MEDIACOM DELAWARE LLC

MEDIACOM SOUTHEAST LLC

as Borrowers

 

the LENDERS party hereto

COBANK, ACB

and

ROYAL BANK OF CANADA

as Joint Lead Arrangers

COBANK, ACB 

as Bookrunner and Syndication Agent

 

ROYAL BANK OF CANADA

as Documentation Agent

and

JPMORGAN CHASE BANK, N.A.,

as Administrative Agent

**********************************************************

 

 

 

 

INCREMENTAL FACILITY AGREEMENT

(TRANCHE A TERM LOANS)

INCREMENTAL FACILITY AGREEMENT (this “Agreement”) dated as of December 17, 2015 among MEDIACOM ILLINOIS LLC, a limited liability company duly organized and validly existing under the laws of the State of Delaware (“Mediacom Illinois”); MEDIACOM INDIANA LLC, a limited liability company duly organized and validly existing under the laws of the State of Delaware (“Mediacom Indiana”); MEDIACOM IOWA LLC, a limited liability company duly organized and validly existing under the laws of the State of Delaware (“Mediacom Iowa”); MEDIACOM MINNESOTA LLC, a limited liability company duly organized and validly existing under the laws of the State of Delaware (“Mediacom Minnesota”); MEDIACOM WISCONSIN LLC, a limited liability company duly organized and validly existing under the laws of the State of Delaware (“Mediacom Wisconsin”); ZYLSTRA COMMUNICATIONS CORP., a corporation duly organized and validly existing under the laws of the State of Minnesota (“Zylstra”); MEDIACOM ARIZONA LLC, a limited liability company duly organized and validly existing under the laws of the State of Delaware (“Mediacom Arizona”); MEDIACOM CALIFORNIA LLC, a limited liability company duly organized and validly existing under the laws of the State of Delaware (“Mediacom California”); MEDIACOM DELAWARE LLC, a limited liability company duly organized and validly existing under the laws of the State of Delaware (“Mediacom Delaware”); and MEDIACOM SOUTHEAST LLC, a limited liability company duly organized and validly existing under the laws of the State of Delaware (“Mediacom Southeast” and, together with Mediacom Illinois, Mediacom Indiana, Mediacom Iowa, Mediacom Minnesota,  Mediacom Wisconsin, Zylstra, Mediacom Arizona, Mediacom California and Mediacom Delaware, the “Borrowers”); the TRANCHE A TERM LOAN LENDER (as defined below) party hereto; and JPMORGAN CHASE BANK, N.A., as Administrative Agent for the Lenders (together with its successors in such capacity, the “Administrative Agent”).

The Borrowers, the Lenders party thereto and the Administrative Agent are parties to an Amended and Restated Credit Agreement dated as of February 5, 2014, as amended and supplemented by the Incremental Facility Agreement dated as of August 15, 2014, the Incremental Facility Agreement dated as of August 12, 2015 and the Incremental Facility Agreement dated as of November 23, 2015 (as further amended, modified or supplemented and in effect from time to time, the “Credit Agreement”).

Section 2.01(e) of the Credit Agreement contemplates that at any time and from time to time, the Borrowers may request that one or more persons (which may include the Lenders under and as defined in the Credit Agreement) offer to enter into commitments to make Incremental Facility Loans.  The Borrowers have requested that $153,500,000 aggregate principal amount of Incremental Facility Term Loan Commitments, constituting a single Series and designated as Refinancing Term Loans, be made available on the Incremental Effective Date (as defined below).  The Tranche A Term Loan Lender  is willing to provide the Tranche A Term Loan Commitment (as defined below) on the terms and conditions set forth below and in accordance with the applicable provisions of the Credit Agreement, and accordingly, the parties hereto hereby agree as follows:

 

 

ARTICLE I

DEFINED TERMS

Terms defined in the Credit Agreement are used herein as defined therein.  In addition, the following terms have the meanings specified below:

“Tranche A Term Loan Commitment” shall mean, with respect to the Tranche A Term Loan Lender, the commitment of such Lender to make Tranche A Term Loans hereunder.  The amount of the Tranche A Term Loan Lender’s Tranche A Term Loan Commitment is set forth on Schedule I hereto.  

“Tranche A Term Loan Lender” shall mean (a) on the date hereof, the Lender having Tranche A Term Loan Commitments that has executed and delivered a counterpart hereto and (b) after the date hereof, the Lenders from time to time holding Tranche A Term Loans after giving effect to any assignments thereof pursuant to Section 11.06 of the Credit Agreement. 

“Tranche A Term Loan Maturity Date” shall mean November 15, 2021.

“Tranche A Term Loans” shall mean the Term Loans provided for in Section 2.01 hereof, which may be Base Rate Loans and/or Eurodollar Loans and which shall constitute a single Series of Incremental Facility Term Loans under Section 2.01(e) of the Credit Agreement.

ARTICLE II

TRANCHE A TERM LOANS

Section 2.01.Term Loan Commitments; Availability; Designation; Use of Proceeds.  Subject to the terms and conditions set forth herein and in the Credit Agreement, the Tranche A Term Loan Lender agrees to make Tranche A Term Loans to the Borrowers in Dollars up to but not exceeding the amount of the Tranche A Term Loan Commitment.  The Tranche A Term Loans will be made available in a single drawing on the Incremental Effective Date.  The Tranche A Term Loans are Term Loans under the Credit Agreement and shall have the terms specified therein and each Tranche A Term Loan Lender shall be a Term Loan Lender under the Credit Agreement.  The Tranche A Term Loans are hereby designated as Refinancing Term Loans.  The proceeds of the Tranche A Term Loans shall be applied to repay a portion of the outstanding Tranche E Term Loans and to pay fees and expenses related thereto.

Section 2.02.Termination of Term Loan Commitments.  Unless previously terminated, the Tranche A Term Loan Commitments shall terminate after the borrowing of the Tranche A Term Loans on the Incremental Effective Date.

-2-

 

Section 2.03.Repayment of Tranche A Term Loans.  The Borrowers jointly and severally unconditionally promise to pay to the Administrative Agent for the account of the Tranche A Term Loan Lenders the principal of the Tranche A Term Loans on each Principal Payment Date set forth in column (A) below, in the amount set forth opposite such date in column (B) below: 

 

		
	
(A)

Principal Payment Date
	
(B)

Principal Reduction

	
 
	
 

	
March 31, 2016
	
$1,918,750

	
June 30, 2016
	
$1,918,750

	
September 30, 2016
	
$1,918,750

	
December 31, 2016
	
$1,918,750

	
 
	
 

	
March 31, 2017
	
$1,918,750

	
June 30, 2017
	
$1,918,750

	
September 30, 2017
	
$1,918,750

	
December 31, 2017
	
$1,918,750

	
 
	
 

	
March 31, 2018
	
$1,918,750

	
June 30, 2018
	
$1,918,750

	
September 30, 2018
	
$1,918,750

	
December 31, 2018
	
$1,918,750

	
 
	
 

	
March 31, 2019
	
$1,918,750

	
June 30, 2019
	
$1,918,750

	
September 30, 2019
	
$1,918,750

	
December 31, 2019
	
$1,918,750

	
 
	
 

	
March 31, 2020
	
$1,918,750

	
June 30, 2020
	
$1,918,750

	
September 30, 2020
	
$1,918,750

	
December 31, 2020
	
$1,918,750

	
 
	
 

	
March 31, 2021
	
$1,918,750

	
June 30, 2021
	
$1,918,750

	
September 30, 2021
	
$1,918,750

	
 
	
 

	
November 15, 2021
	
$109,368,750

 

To the extent not previously paid, all Tranche A Term Loans shall be due and payable on the Tranche A Term Loan Maturity Date.

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Section 2.04.Applicable Margin.  The Applicable Margin for Tranche A Term Loans shall be the respective rate indicated below for Loans of the applicable Type set forth opposite the then-current Rate Ratio (determined pursuant to Section 3.03 of the Credit Agreement) indicated below: 

 

			
	
Range of Rate Ratio
	
Eurodollar
Loans
	
Base Rate Loans

	
Greater than or equal to 5.0 to 1
	
3.50%
	
2.50%

	
Greater than or equal to 4.5 to 1 but less than 5.0 to 1
	
3.00%
	
2.00%

	
Greater than or equal to 4.0 to 1 but less than 4.5 to 1
	
2.75%
	
1.75%

	
Greater than or equal to 3.0 to 1 but less than 4.0 to 1
	
2.50%
	
1.50%

	
Less than 3.0 to 1
	
2.25%
	
1.25%

 

provided, that such Rate Ratio shall be calculated after giving pro forma effect to the incurrence of the Tranche A Term Loans. 

 

Section 2.05.Special Voting Provisions.  (a) Solely for purposes of determining whether each Lender has consented to the amendments set forth in Exhibit G to the Credit Agreement (which may be updated with the consent of the Borrowers and the Administrative Agent without the consent of any Lender to make any change that is not less favorable to the Tranche A Term Loan Lenders in any material respect so long as such changes are provided to Lenders for review for a period of not less than three Business Days (or, such longer period as may be requested by any Tranche A Term Loan Lender if such Lender in good faith determines that it requires additional time to consider such changes) and no Tranche A Term Loan Lender notifies the Administrative Agent in writing prior to 5:00 p.m. New York time prior to the end of such three Business Day period that such Lender has determined that any such additional changes to Exhibit G are adverse to such Lender in a manner such Lender deems to be material) (the “Exhibit G Amendments”), all Tranche A Term Loans shall be deemed to be held by Lenders that have consented to the Exhibit G Amendments.

(b)  Each Tranche A Term Loan Lender, solely in its capacity as a Tranche A Term Loan Lender, hereby agrees that with respect to any matter requiring the vote of Lenders pursuant to (x) any proposed amendment, restatement, waiver, consent, supplement or other modification of Section 8.10 of the Credit Agreement (including any of the defined terms set forth therein to the extent affecting the calculation of the ratios set forth therein), other than any amendment, restatement, waiver, consent, supplement or other modification of Section 8.10(a) that would permit the Total Leverage Ratio to exceed 6.0 to 1.0, or (y) the exercise of any remedy under the last two paragraphs of Section 9.01 of the Credit Agreement arising from an Event of Default under Section 8.10 of the Credit Agreement, other than to the extent that such Event of Default arises from a failure to satisfy a maximum Leverage Ratio of 6.0 to 1.0, the Tranche A Term Loans held by such Tranche A Term Loan Lender shall automatically, and without further action on the part of such Lender, the Borrowers or the Administrative Agent, be deemed to be voted, and each Tranche A Term Loan Lender irrevocably instructs the Borrowers and the Administrative Agent to treat as voted, in the same proportion as the allocation of voting with respect to such matter by other Lenders entitled to vote on such matter (other than in their capacity as Tranche A Term Loan Lenders) so long as such Tranche A Term Loan Lender is treated in connection with the exercise of such right or taking of such action on the same basis as, and in a manner no less favorable to such Tranche A Term Loan Lender, than the other Lenders.

ARTICLE III

[RESERVED]

ARTICLE IV

SECURITY DOCUMENTS

Section 4.01.Confirmation of Security Documents.  Each of the Borrowers hereby confirms and ratifies all of its obligations under the Loan Documents to which it is a party.  By its execution on the respective signature lines provided below, each of the Obligors hereby confirms and ratifies all of its obligations and the Liens granted by it under the Security Documents to which it is a party, represents and warrants that the representations and warranties set forth in such Security Documents are complete and correct on the date hereof as if made on and 

-4-

 

as of such date and confirms that all references in such Security Documents to the “Credit Agreement” (or words of similar import) refer to the Credit Agreement as supplemented hereby without impairing any such obligations or Liens in any respect. 

ARTICLE V

REPRESENTATION AND WARRANTIES; NO DEFAULTS

The Borrowers represent and warrant to the Administrative Agent and the Lenders that (i) each of the representations and warranties made by the Borrowers in Section 7 of the Credit Agreement, and by each Obligor in the other Loan Documents to which it is a party, is true and complete on and as of the date hereof with the same force and effect as if made on and as of the date hereof (or, if any such representation or warranty is expressly stated to have been made as of a specific date, as of such specific date) and as if each reference therein to the Credit Agreement or Loan Documents included reference to this Agreement and (ii) no Default has occurred and is continuing.

ARTICLE VI

CONDITIONS

Section 6.01.The obligation of the Tranche A Term Loan Lender to make Tranche A Term Loans is subject to each of the following conditions having been satisfied (the date of satisfaction of such conditions, the “Incremental Effective Date”):

(a)Counterparts of this Agreement.  The Administrative Agent shall have received duly executed and delivered counterparts of this Agreement from each Obligor and each Lender listed on Schedule I hereto.

(b)Opinion of Counsel to Obligors.  The Administrative Agent shall have received an opinion of Vedder Price P.C., counsel to the Obligors, dated such date or dates and covering such matters as the Administrative Agent or the Tranche A Term Loan Lender may reasonably request (and the Borrowers hereby instruct counsel to deliver such opinion to the Lenders and the Administrative Agent).

(c)Investment in CoBank.  CoBank ACB shall have received evidence that the Borrowers have made a minimum equity investment of $1,000 in CoBank ACB on or prior to the Incremental Effective Date.

(d)Officer’s Certificate.  A certificate of a Senior Officer, dated the Incremental Effective Date, attaching resolutions approving the transactions contemplated by this Agreement and to the effect that (i) the representations and warranties made by the Borrowers in Article V hereof, and by each Obligor in the other Loan Documents to which it is a party, are true and complete on and as of the date hereof with the same force and effect as if made on and as of such date (or, if any such representation and warranty is expressly stated to have been made as of a specific date, as of such specific date), (ii) there have been no amendments to the organizational documents of any Obligor since February 5, 2014 and the Tranche A Term Loan Lender may rely on the secretary’s certificates delivered to the Administrative Agent on such date, (iii) after giving effect the borrowing of the Tranche A Term Loans, the Borrowers will not exceed the maximum amount permitted to be borrowed under Section 2.01(e)(iii) of the Credit Agreement, and (iv) no Default or Event of Default shall have occurred and be continuing.

(e)Other Documents.  The Borrowers shall have executed and delivered counterparts to such other documents as the Administrative Agent or the Tranche A Term Loan Lender may reasonably request.

(f)Fees and Expenses.  The Administrative Agent shall have received evidence from the Borrowers that (i) an upfront fee in an amount equal to 0.50% of the stated principal amount of the Tranche A Term Loan Commitment has been paid directly to the Tranche A Term Loan Lender, and (ii) all other amounts due and payable on or prior to the Incremental Effective Date have been paid, including, to the extent invoiced, reimbursement or payment of all out-of-pocket expenses required to be reimbursed or paid by the Borrowers hereunder.

(g)Borrowing Notices.  The Borrowers shall have delivered to the Administrative Agent in accordance with Section 2.02 of the Credit Agreement notices of borrowing in respect of Tranche A Term Loans.

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(h)Repayment of Tranche E Term Loans.  The Administrative Agent shall be satisfied with the arrangements to ensure that the proceeds of  the Tranche A Term Loans will be applied to repay a portion of the outstanding Tranche E Term Loans and otherwise as provided in Section 2.01 of this Agreement.   

ARTICLE VII

MISCELLANEOUS

Section 7.01.Expenses.  The Obligors jointly and severally agree to pay or reimburse the Administrative Agent and the lead arrangers identified on the cover page to this Agreement, all reasonable out-of-pocket expenses incurred by such parties, including the reasonable fees, charges and disbursements of counsel to the Administrative Agent and the lead arrangers, in connection with the syndication of the Incremental Facility Loans provided for herein and the preparation of this Agreement.

Section 7.02.Counterparts; Integration; Effectiveness.  This Agreement may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract.  This Agreement shall become effective when this Agreement shall have been executed by the Administrative Agent and when the Administrative Agent shall have received counterparts hereof and thereof which, when taken together, bear the signatures of each of the other parties hereto and thereto, and thereafter shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.  Delivery of an executed counterpart of a signature page of this Agreement by telecopy shall be effective as delivery of a manually executed counterpart of this Agreement.

Section 7.03.Governing Law.  This Agreement shall be governed by, and construed in accordance with, the law of the State of New York.

Section 7.04.Headings.  Article and Section headings used herein are for convenience of reference only, are not part of this Agreement and shall not affect the construction of, or be taken into consideration in interpreting, this Agreement. 

Section 7.05.Notices.  All notices, requests and other communications provided for herein and under the Security Documents (including, without limitation, any modifications of, or waivers, requests or consents under this Agreement) shall be given or made in writing (including, without limitation, by telecopy) delivered to the intended recipient in accordance with the Credit Agreement.

[Signature Pages Follow]

-6-

 

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and delivered as of the day and year first above written.

 

	
MEDIACOM ILLINOIS LLC

	
MEDIACOM INDIANA LLC

	
MEDIACOM IOWA LLC

	
MEDIACOM MINNESOTA LLC

	
MEDIACOM WISCONSIN LLC

	
MEDIACOM ARIZONA LLC

	
MEDIACOM CALIFORNIA LLC

	
MEDIACOM DELAWARE LLC

	
MEDIACOM SOUTHEAST LLC

	
 

	
By:
	
Mediacom LLC, Member

	
 
	
 

	
By:
	
Mediacom Communications

	
 
	
Corporation, Member

	
 
	
 

	
By:
	
/s/ Mark E. Stephan

	
 
	
Name: 
	
Mark E. Stephan

	
 
	
Title:
	
Executive Vice President &

	
 
	
 
	
Chief Financial Officer

	
 

	
ZYLSTRA COMMUNICATIONS CORP.

	
 

	
By:
	
/s/ Mark E. Stephan

	
 
	
Name: 
	
Mark E. Stephan

	
 
	
Title:
	
Executive Vice President &

	
 
	
 
	
Chief Financial Officer

 

[Incremental Facility Agreement Signature Page]

 

By its signature below, the undersigned hereby consents to the foregoing Incremental Facility Agreement and confirms that the Tranche A Term Loans constitute “Guaranteed Obligations” under the Guarantee and Pledge Agreement under and as defined in said Credit Agreement for all purposes of said Guarantee and Pledge Agreement and shall be entitled to the benefits of the guarantee and security provided under the Guarantee and Pledge Agreement.

MEDIACOM LLC

 

	
By:
	
 
	
Mediacom Communications Corporation, Member

	
 
	
 
	
 

	
By:
	
 
	
/s/ Mark E. Stephan

	
 
	
 
	
Name:
	
Mark E. Stephan

	
 
	
 
	
Title:
	
Executive Vice President &

Chief Financial Officer

 

MEDIACOM MANAGEMENT CORPORATION

 

	
By:
	
 
	
/s/ Mark E. Stephan

	
 
	
 
	
Name:
	
Mark E. Stephan

	
 
	
 
	
Title:
	
Executive Vice President &

Chief Financial Officer

 

MEDIACOM INDIANA PARTNERCO LLC

 

	
By:
	
 
	
Mediacom LLC, Member

	
By:
	
 
	
Mediacom Communications Corporation, Member

	
 
	
 
	
 

	
By:
	
 
	
/s/ Mark E. Stephan

	
 
	
 
	
Name:
	
Mark E. Stephan

	
 
	
 
	
Title:
	
Executive Vice President &

Chief Financial Officer

 

MEDIACOM INDIANA HOLDINGS, L.P.

 

	
By:
	
 
	
Mediacom Indiana Partnerco LLC, General Partner

	
By:
	
 
	
Mediacom LLC, Member

	
By:
	
 
	
Mediacom Communications Corporation, Member

	
 
	
 
	
 

	
By:
	
 
	
/s/ Mark E. Stephan

	
 
	
 
	
Name:
	
Mark E. Stephan

	
 
	
 
	
Title:
	
Executive Vice President &

Chief Financial Officer

 

[Incremental Facility Agreement Signature Page]

 

By its signature below, the undersigned hereby consents to the foregoing Incremental Facility Agreement and confirms that the Tranche A Term Loans constitute “Guaranteed Obligations” under the respective Subsidiary Guarantee Agreements under and as defined in said Credit Agreement for all purposes of said Subsidiary Guarantee Agreements and shall be entitled to the benefits of the guarantee and security provided under the Subsidiary Guarantee Agreements. 

ILLINI CABLE HOLDING, INC.

 

	
By:
	
 
	
/s/ Mark E. Stephan

	
 
	
 
	
Name:
	
Mark E. Stephan

	
 
	
 
	
Title:
	
Executive Vice President &

Chief Financial Officer

 

ILLINI CABLEVISION OF ILLINOIS, INC.

 

	
By:
	
 
	
/s/ Mark E. Stephan

	
 
	
 
	
Name:
	
Mark E. Stephan

	
 
	
 
	
Title:
	
Executive Vice President &

Chief Financial Officer

 

[Incremental Facility Agreement Signature Page]

 

By its signature below, the undersigned hereby confirms that all of its obligations under the Management Fee Subordination Agreement and Section 5.04 of the Guarantee and Pledge Agreement shall continue unchanged and in full force and effect for the benefit of the Administrative Agent, the Lenders party to the Credit Agreement and the Tranche A Term Loan Lenders.

MEDIACOM COMMUNICATIONS CORPORATION

 

	
By:
	
 
	
/s/ Mark E. Stephan

	
 
	
 
	
Name:
	
Mark E. Stephan

	
 
	
 
	
Title:
	
Executive Vice President &

Chief Financial Officer

 

[Incremental Facility Agreement Signature Page]

 

JPMORGAN CHASE BANK, N.A.,

as Administrative Agent 

 

	
By:
	
 
	
/s/ Nicolas Gitron-Beer

	
 
	
 
	
Name:
	
Nicolas Gitron-Beer

	
 
	
 
	
Title:
	
Vice President

 

[Incremental Facility Agreement Signature Page]

 

COBANK, ACB, as the Tranche A Term Loan Lender

 

	
By:
	
 
	
/s/ Gary Franke

	
 
	
 
	
Name:
	
Gary Franke

	
 
	
 
	
Title:
	
Vice President

 

 

[Incremental Facility Agreement Signature Page]

 

Schedule I

TRANCHE A TERM LOAN COMMITMENTS

 

		
	
TRANCHE A 

TERM LOAN LENDER
	
 

TRANCHE A TERM 

LOAN COMMITMENT

	
COBANK, ACB
	
$153,500,000

	
TOTAL:
	
$153,500,000

 

Schedule I to Incremental Facility Agreementmcccl-ex102_636.htm

 

Exhibit 10.2

 

**********************************************************

INCREMENTAL FACILITY AGREEMENT

INCREASE IN REVOLVING CREDIT COMMITMENTS 

dated as of November 23, 2015

among

MEDIACOM ILLINOIS LLC

MEDIACOM INDIANA LLC

MEDIACOM IOWA LLC

MEDIACOM MINNESOTA LLC

MEDIACOM WISCONSIN LLC

ZYLSTRA COMMUNICATIONS CORP.

MEDIACOM ARIZONA LLC

MEDIACOM CALIFORNIA LLC

MEDIACOM DELAWARE LLC

MEDIACOM SOUTHEAST LLC,

as Borrowers

The LENDERS Party Hereto
and 

JPMORGAN CHASE BANK, N.A.,
as Administrative Agent

**********************************************************

 

 

 

INCREMENTAL FACILITY AGREEMENT 

(INCREASE IN REVOLVING CREDIT COMMITMENTS)

INCREMENTAL FACILITY AGREEMENT (this “Incremental Facility Agreement”) dated as of November 23, 2015, among MEDIACOM ILLINOIS LLC, a limited liability company duly organized and validly existing under the laws of the State of Delaware (“Mediacom Illinois”); MEDIACOM INDIANA LLC, a limited liability company duly organized and validly existing under the laws of the State of Delaware (“Mediacom Indiana”); MEDIACOM IOWA LLC, a limited liability company duly organized and validly existing under the laws of the State of Delaware (“Mediacom Iowa”); MEDIACOM MINNESOTA LLC, a limited liability company duly organized and validly existing under the laws of the State of Delaware (“Mediacom Minnesota”); MEDIACOM WISCONSIN LLC, a limited liability company duly organized and validly existing under the laws of the State of Delaware (“Mediacom Wisconsin”); ZYLSTRA COMMUNICATIONS CORP., a corporation duly organized and validly existing under the laws of the State of Minnesota (“Zylstra”); MEDIACOM ARIZONA LLC, a limited liability company duly organized and validly existing under the laws of the State of Delaware (“Mediacom Arizona”); MEDIACOM CALIFORNIA LLC, a limited liability company duly organized and validly existing under the laws of the State of Delaware (“Mediacom California”); MEDIACOM DELAWARE LLC, a limited liability company duly organized and validly existing under the laws of the State of Delaware (“Mediacom Delaware”); and MEDIACOM SOUTHEAST LLC, a limited liability company duly organized and validly existing under the laws of the State of Delaware (“Mediacom Southeast” and, together with Mediacom Illinois, Mediacom Indiana, Mediacom Iowa, Mediacom Minnesota,  Mediacom Wisconsin, Mediacom Arizona, Mediacom California and Mediacom Delaware, the “Borrowers”); the NEW REVOLVING CREDIT LENDERS and the INCREASING REVOLVING CREDIT LENDER party hereto and JPMORGAN CHASE BANK, N.A., as Administrative Agent for the Lenders (together with its successors in such capacity, the “Administrative Agent”).

The Borrowers, the Lenders party thereto, the Issuing Lender identified therein and the Administrative Agent are parties to the Amended and Restated Credit Agreement, dated as of February 5, 2014 as amended and supplemented by the Incremental Facility Agreement, dated as of August 15, 2014 as further amended and supplemented by the Incremental Facility Agreement, dated as of August 12, 2015 (as further amended, modified and supplemented and in effect from time to time, the “Credit Agreement”).

Section 2.01(e) of the Credit Agreement contemplates that at any time and from time to time, the Borrowers may request that one or more persons (which may include the Lenders under and as defined in the Credit Agreement or additional financial institutions that will become Lenders) offer to enter into commitments to provide Incremental Facility Revolving Credit Commitments.  The Borrowers have requested that $112,500,000 aggregate principal amount of additional Revolving Credit Commitments constituting an increase in the existing Class of Revolving Credit Commitments be provided on the Increase Effective Date (as defined below).  The New Revolving Credit Lenders (as defined below) and the Increasing Revolving Credit Lender (as defined below) are willing to provide the Increased Revolving Credit Commitment (as defined below) on the terms and conditions set forth below and in accordance with the applicable provisions of the Credit Agreement, and accordingly, the parties hereto hereby agree as follows:

 

 

 

ARTICLE I

DEFINED TERMS

Terms defined in the Credit Agreement are used herein as defined therein.

ARTICLE II

REVOLVING CREDIT LOANS

Section 2.01.Commitments.  Toronto Dominion (Texas) LLC (“TD”), Citizens Bank, N.A. (“Citizens”), Fifth Third Bank (“Fifth Third”) and Capital One, National Association (“Capital One” and, together with TD, Citizens and Fifth Third, each a “New Revolving Credit Lender” and collectively, the “New Revolving Credit Lenders”) and Royal Bank of Canada (the “Increasing Revolving Credit Lender”) each severally agree to provide an additional Revolving Credit Commitment in the amount set forth opposite its name on Schedule I hereto (the “Increased Revolving Credit Commitments”).  The Increased Revolving Credit Commitments shall become effective on the Increase Effective Date.  The Increased Revolving Credit Commitments shall be Revolving Credit Commitments under the Credit Agreement and shall have the terms specified therein and each New Revolving Credit Lender and the Increasing Revolving Credit Lender shall be a Revolving Credit Lender under the Credit Agreement.  Immediately after the Increase Effective Date, the aggregate principal amount of Revolving Credit Commitments of Royal Bank of Canada is $37,500,000 and the aggregate principal amount of Revolving Credit Commitments of all Revolving Credit Lenders is $362,500,000.

ARTICLE III

REPRESENTATIONS AND WARRANTIES; NO DEFAULTS

The Borrowers represent and warrant to the Administrative Agent and the Lenders that (i) each of the representations and warranties made by the Borrowers in Section 7 of the Credit Agreement, and by each Obligor in the other Loan Documents to which it is a party, is true and correct on and as of the date hereof with the same force and effect as if made on and as of the date hereof (or, if any such representation or warranty is expressly stated to have been made as of a specific date, as of such specific date) and as if each reference therein to the Credit Agreement or Loan Documents includes a reference to this Incremental Facility Agreement and (ii) no Default or Event of Default has occurred and is continuing.

ARTICLE IV

CONDITIONS

Section 4.01.The effectiveness of the Increased Revolving Credit Commitment of each New Revolving Credit Lender and the Increasing Revolving Credit Lender is subject to each of the following conditions having been satisfied (the date of satisfaction of such conditions, the “Increase Effective Date”):

(a)Counterparts of Incremental Facility Agreement.  The Administrative Agent shall have received duly executed and delivered counterparts of this Incremental Facility Agreement from (i) each Obligor, (ii) each New Revolving Credit Lender, (iii) the Increasing Revolving Credit Lender and (iv) the Issuing Lender.

(b)Opinion of Counsel to Obligors.  The Administrative Agent shall have received an opinion of Vedder Price P.C., counsel to the Obligors, dated such date or dates and covering such matters as the Administrative Agent or the New Revolving Credit Lenders or the Increasing Revolving Credit Lender may reasonably request (and the Borrowers hereby instruct counsel to deliver such opinion to the New Revolving Credit Lenders and the Increasing Revolving Credit Lender and the Administrative Agent).

(c)Keepwell.  The Administrative Agent shall have received from each Obligor a duly executed and delivered counterpart to a keepwell agreement containing usual and customary terms and otherwise satisfactory to the Administrative Agent, the New Revolving Credit Lenders and the Increasing Revolving Credit Lender.

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(d)Officer’s Certificate.  The Administrative Agent shall have received a certificate of a Senior Officer, dated such date or dates as the Administrative Agent or any New Revolving Credit Lender or the Increasing Revolving Credit Lender may reasonably request, to the effect that (i) the representations and warranties made by the Borrowers in Article III hereof, and by each Obligor in the other Loan Documents to which it is a party, are true and correct on and as of the date hereof with the same force and effect as if made on and as of such date (or, if any such representation and warranty is expressly stated to have been made as of a specific date, as of such specific date), (ii) there have been no amendments to the organizational documents of any Obligor since February 5, 2014 and each New Revolving Credit Lender and the Increasing Revolving Credit Lender may rely on the secretary’s certificates delivered to the Administrative Agent on such date and (iii) no Default or Event of Default shall have occurred and be continuing. 

(e)Fees and Expenses.  The Administrative Agent (i) shall have received from the Borrowers for the account of each New Revolving Credit Lender and of the Increasing Revolving Credit Lender, as fee compensation for the Increased Revolving Credit Commitment of such New Revolving Credit Lender and of the Increasing Revolving Credit Lender, an upfront fee in an amount equal to 0.325% of the stated principal amount of the Increased Revolving Credit Commitment of such New Revolving Credit Lender and of the Increasing Revolving Credit Lender, or (ii) shall have received evidence from the Borrowers that the applicable ratable upfront fee amount has been paid directly to each New Revolving Credit Lender and to the Increasing Incremental Facility Revolving Credit Lender.  

(f)Repayment of Revolving Credit Loans.  The Administrative Agent shall be satisfied with the arrangements to ensure that all outstanding Revolving Credit Loans immediately after the Increase Effective Date are held on a pro rata basis by the Revolving Credit Lenders after giving effect to the Increased Revolving Credit Commitment.

ARTICLE V

MISCELLANEOUS

Section 5.01.Confirmation of Security Documents.  Each of the Borrowers hereby confirms and ratifies all of its obligations under the Loan Documents to which it is a party.  By its execution on the respective signature lines provided below, each of the Obligors hereby confirms and ratifies all of its obligations and the Liens granted by it under the Security Documents to which it is a party, represents and warrants that the representations and warranties set forth in such Security Documents are true and correct on the date hereof as if made on and as of such date and confirms that all references in such Security Documents to the “Credit Agreement” (or words of similar import) refer to the Credit Agreement as supplemented hereby without impairing any such obligations or Liens in any respect.

Section 5.02.Expenses.  The Obligors jointly and severally agree to pay, or reimburse the Administrative Agent for, all reasonable out-of-pocket expenses incurred by the Administrative Agent and its Affiliates, including the reasonable fees, charges and disbursements of special New York counsel to the Administrative Agent, in connection with the preparation of this Incremental Facility Agreement.

Section 5.03.Counterparts; Integration; Effectiveness.  This Incremental Facility Agreement may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract.  This Incremental Facility Agreement shall become effective when it has been executed by the Administrative Agent and when the Administrative Agent shall have received counterparts hereof which, when taken together, bear the signatures of each of the other parties hereto, and thereafter shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns.  Delivery of an executed counterpart of a signature page of this Incremental Facility Agreement by fax or email (with a “pdf” copy thereof attached) shall be effective as delivery of an original executed counterpart hereof.

Section 5.04.Governing Law.  This Incremental Facility Agreement is governed by, and construed to be in accordance with, the law of the State of New York.

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Section 5.05.Headings.  Article and Section headings used herein are for convenience of reference only, are not part of this Incremental Facility Agreement and shall not affect the construction of, or be taken into consideration in interpreting, this Incremental Facility Agreement. 

Section 5.06.Notices.  All notices, requests and other communications provided for herein and under the Security Documents (including, without limitation, any modifications of, or waivers, requests or consents under this Incremental Facility Agreement) shall be given or made in writing (including, without limitation, by telecopy) delivered to the intended recipient in accordance with the Credit Agreement.

 

[Signature Pages Follow]

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IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and delivered as of the day and year first above written.

 

	
MEDIACOM ILLINOIS LLC
MEDIACOM INDIANA LLC
MEDIACOM IOWA LLC
MEDIACOM MINNESOTA LLC
MEDIACOM WISCONSIN LLC
MEDIACOM ARIZONA LLC
MEDIACOM CALIFORNIA LLC
MEDIACOM DELAWARE LLC
MEDIACOM SOUTHEAST LLC

	
 

	
By:
	
Mediacom LLC, Member

	
 
	
 

	
By:
	
Mediacom Communications

	
 
	
Corporation, Member

	
 

	
By:
	
/s/ Mark E. Stephan

	
 
	
Name:
	
Mark E. Stephan

	
 
	
Title:
	
Executive Vice President and

Chief Financial Officer

	
 

	
ZYLSTRA COMMUNICATIONS CORP.

	
 

	
By:
	
/s/ Mark E. Stephan

	
 
	
Name:
	
Mark E. Stephan

	
 
	
Title:
	
Executive Vice President and

Chief Financial Officer

 

[Incremental Facility Agreement Signature Page]

 

 

By its signature below, the undersigned hereby consents to the foregoing Incremental Facility Agreement and confirms that any Revolving Credit Loans and Letter of Credit Liabilities pursuant to the Increased Revolving Credit Commitment constitute “Guaranteed Obligations” under the Guarantee and Pledge Agreement under and as defined in the Credit Agreement for all purposes of the Guarantee and Pledge Agreement and are entitled to the benefits of the guarantee and security provided under the Guarantee and Pledge Agreement.

 

	
MEDIACOM LLC

	
 

	
By:
	
Mediacom Communications Corporation,

Member

	
 
	
 

	
By:
	
/s/ Mark E. Stephan

	
 
	
Name:
	
Mark E. Stephan

	
 
	
Title:
	
Executive Vice President and

Chief Financial Officer

 

[Incremental Facility Agreement Signature Page]

 

 

MEDIACOM MANAGEMENT CORPORATION

 

	
By:
	
/s/ Mark E. Stephan

	
 
	
Name:
	
Mark E. Stephan

	
 
	
Title:
	
Executive Vice President and

Chief Financial Officer

 

[Incremental Facility Agreement Signature Page]

 

 

MEDIACOM INDIANA PARTNERCO LLC

 

	
By:
	
Mediacom LLC, Member

	
By:
	
Mediacom Communications Corporation,

Member

	
 
	
 

	
By:
	
/s/ Mark E. Stephan

	
 
	
Name:
	
Mark E. Stephan

	
 
	
Title:
	
Executive Vice President and

Chief Financial Officer

 

[Incremental Facility Agreement Signature Page]

 

 

MEDIACOM INDIANA HOLDINGS, L.P.

 

	
By:
	
Mediacom Indiana Partnerco LLC, General

Partner

	
By:
	
Mediacom LLC, Member

	
By:
	
Mediacom Communications Corporation,

Member

	
 
	
 

	
By:
	
/s/ Mark E Stephan

	
 
	
Name:
	
Mark E. Stephan

	
 
	
Title:
	
Executive Vice President and

Chief Financial Officer

 

[Incremental Facility Agreement Signature Page]

 

 

By its signature below, the undersigned hereby consents to the foregoing Incremental Facility Agreement and confirms that any Revolving Credit Loans and Letter of Credit Liabilities pursuant to the Increased Revolving Credit Commitment constitute “Guaranteed Obligations” under its respective Subsidiary Guarantee Agreement under and as defined in the Credit Agreement for all purposes of said Subsidiary Guarantee Agreements and are entitled to the benefits of the guarantee and security provided under the Subsidiary Guarantee Agreements. 

ILLINI CABLE HOLDING, INC.

 

	
By:
	
/s/ Mark E. Stephan

	
 
	
Name:
	
Mark E. Stephan

	
 
	
Title:
	
Executive Vice President and

Chief Financial Officer

 

ILLINI CABLEVISION OF ILLINOIS, INC.

 

	
By:
	
/s/ Mark E. Stephan

	
 
	
Name:
	
Mark E. Stephan

	
 
	
Title:
	
Executive Vice President and

Chief Financial Officer

 

[Incremental Facility Agreement Signature Page]

 

 

By its signature below, the undersigned hereby confirms that all of its obligations under the Management Fee Subordination Agreement and Section 5.04 of the Guarantee and Pledge Agreement will continue unchanged and remain in full force and effect for the benefit of the Administrative Agent, the Lenders party to the Credit Agreement, and the New Revolving Credit Lenders and the Increasing Revolving Credit Lender.

MEDIACOM COMMUNICATIONS

CORPORATION

 

	
By:
	
/s/ Mark E. Stephan

	
 
	
Name:
	
Mark E. Stephan

	
 
	
Title:
	
Executive Vice President and

Chief Financial Officer

 

 

 

[Incremental Facility Agreement Signature Page]

 

 

	
JPMORGAN CHASE BANK, N.A.,

	
 
	
as Administrative Agent and Issuing Lender

	
 
	
 

	
By:
	
/s/ Nicolas Gitron Beer

	
 
	
Name:
	
Nicolas Gitron-Beer

	
 
	
Title:
	
Vice President

 

 

 

[Incremental Facility Agreement Signature Page]

 

 

	
TORONTO DOMINION (TEXAS) LLC, as a New

	
Revolving Credit Lender

	
 
	
 

	
By:
	
/s/ Rayan Karim

	
 
	
Name:
	
Rayan Karim

	
 
	
Title:
	
Authorized Signatory

 

 

 

[Incremental Facility Agreement Signature Page]

 

	
CAPITAL ONE, NATIONAL ASSOCIATION, as a

	
New Revolving Credit Lender

	
 
	
 

	
By:
	
/s/ Marcy M. Dean

	
 
	
Name:
	
Marcy M. Dean

	
 
	
Title:
	
Senior Vice President

 

 

 

[Incremental Facility Agreement Signature Page]

 

	
CITIZENS BANK, N.A., as a New Revolving Credit

	
Lender

	
 
	
 

	
By:
	
/s/ Battle Moore

	
 
	
Name:
	
Battle Moore

	
 
	
Title:
	
Managing Director

 

 

 

[Incremental Facility Agreement Signature Page]

 

	
FIFTH THIRD BANK, as a New Revolving Credit

	
Lender

	
 
	
 

	
By:
	
/s/ Neil Kiernan

	
 
	
Name:
	
Neil Kiernan

	
 
	
Title:
	
Vice President

 

 

 

[Incremental Facility Agreement Signature Page]

 

	
ROYAL BANK OF CANADA, as the Increasing

	
Revolving Credit Lender

	
 
	
 

	
By:
	
/s/ Kevin Quan

	
 
	
Name:
	
Kevin Quan

	
 
	
Title:
	
Authorized Signatory

[Incremental Facility Agreement Signature Page]

 

Schedule I

Increased Revolving Credit Commitment

 

		
	
 

New or Increasing Revolving Credit Lender
	
Increased Revolving Credit Commitment

	
Toronto Dominion (Texas) LLC
	
$25,000,000.00

	
Capital One, National Association
	
$25,000,000.00

	
Citizens Bank, N.A.
	
$25,000,000.00

	
Fifth Third Bank
	
$20,000,000.00

	
Royal Bank of Canada
	
$17,500,000.00

 

Schedule I to Incremental Facility Agreement

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