Document:

exhibit10-191.htm

Exhibit 10.191  

  

  

GCI HOLDINGS, INC.

 

ADD-ON TERM LOAN SUPPLEMENT NO. 2

 

ADD-ON TERM LOAN SUPPLEMENT NO. 2, dated as of  July 22, 2011 to the Second Amended and Restated Credit and Guarantee Agreement, dated as of January 29, 2010, among GCI Holdings, Inc., GCI, Inc., the Subsidiary Guarantors party thereto, the Lenders party thereto, Credit Agricole Corporate and Investment Bank (f/k/a Calyon New York Branch), as Administrative Agent (as amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), and the other Agents named therein.  Capitalized terms used herein and not defined herein shall have the meanings assigned to such terms in the Credit Agreement.

 

1. Pursuant to Section 2.1(b) of the Credit Agreement, the Borrower hereby submits this Add-on Term Loan Supplement to the Administrative Agent.

 

2. Each of the following Lenders (each an “Current Lender”) has been invited by the Borrower, and is ready, willing and able, to commit to make an Add-on Term Loan (collectively, the “Series 2 Add-on Term Loans”) in the following amount:

 

Name of Lender                                                                                     Add-on Term Loan Commitment

 

	
Union Bank, N.A.

	 	$	10,000,000	 
	
Wells Fargo Bank, N.A.

	 	$	15,000,000	 

 

3. Each of the following Persons (each a “Proposed Lender”) has been invited by the Borrower, and is ready, willing and able, to become a “Lender” and to commit to make an Add-on Term Loan in the amount of its Add-on Term Loan Commitment as follows:

 

Name of Person                                            Add-on Term Loan Commitment

 

N/A                                                             N/A

 

4. The Borrower hereby represents and warrants to each Credit Party including each Current Lender and each Proposed Lender, that, assuming the Administrative Agent executes and delivers this Add-on Term Loan Supplement, all of the conditions set forth in Section 2.1(b) of the Credit Agreement with respect hereto have been satisfied and the Borrower is in compliance with all of the terms of such Section.

 

5. Pursuant to Section 2.1(b) of the Credit Agreement, (a) each Current Lender’s Add-on Term Loan Commitment is in the amount set forth above next to its name, (b) each Proposed Lender is a party to the Credit Agreement and shall for all purposes of the Loan Documents be deemed a “Lender” having an Add-on Term Loan Commitment as set forth above next to its name, and (c) this Add-on Term Loan Supplement is an Effective Add-on Term Loan Supplement.

 

6. Add-on Term Loan Borrowing Date: July 22, 2011.

 

7. The Applicable Margin for the Series 2 Add-on Term Loans is set forth on Schedule I hereto.

 

8. The unpaid principal amount of the Series 2 Add-on Term Loans shall be payable in such amounts and on such dates, set forth on Schedule II hereto, provided that in no event shall the scheduled amortization of any such Series 2 Add-on Term Loan exceed 1% of the original principal amount of the Series 2 Add-on Term Loan per annum.

 

9. Attached hereto as Exhibit A is a form of promissory note that, pursuant to Section 2.8(d) of the Credit Agreement, shall be used in the event any Current Lender shall request that its Series 2 Add-on Term Loan be evidenced by a Note..

 

[SIGNATURE PAGES FOLLOW]

 

  

  

  

IN WITNESS WHEREOF, the parties hereto duly executed this Add-on Term Loan Supplement as of the day and year first above written.

 

	
  

	
GCI HOLDINGS, INC.

 

	
  

	
By:

	 /s/ Bruce Broquet	 

	
  

	
Name:

	 Bruce L. Broquet	 

	
  

	
Title:

	 Vice President, Finance	 

 

CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK, , as Administrative Agent

 

	
  

	
By:

	 /s/ Tanya Crossley	 

	
  

	
Name:

	 Tanya Crossley	 

	
  

	
Title:

	 Managing Director	 

 

	
  

	
By:

	 /s/ Amy Trapp	 

	
  

	
Name:

	 Amy Trapp	 

	
  

	
Title:

	 Managing Director	 

 

UNION BANK, N.A., as a Current Lender

 

	
  

	
By:

	 /s/ Richard Vian	 

	
  

	
Name:

	 Richard Vian	 

	
  

	
Title:

	 Vice President	 

 

WELLS FARGO BANK, N.A., as a Current Lender

 

	
  

	
By:

	 /s/ Sam Mazzeo	 

	
  

	
Name:  

	 Sam Mazzeo	 

	
  

	
Title:

	 Business Banking Manager	 

 

ADD-ON TERM LOAN SUPPLEMENT NO. 2

  

  

  

SCHEDULE I

 

The Applicable Margin for the Series 2 Add-on Term Loans shall be 2.5% for Eurodollar Loans and 1.5% for ABR Loans.

 

SCHEDULE 1 TO ADD-ON TERM LOAN SUPPLEMENT NO. 2

  

  

  

SCHEDULE II

 

None, other than as provided in Section 2.6(a)(ii) of the Credit Agreement.

SCHEDULE II TO ADD-ON TERM LOAN SUPPLEMENT NO. 2

  

  

  

ADD-ON TERM LOAN SUPPLEMENT NO. 2 - EXHIBIT A

 

FORM OF SERIES 2 ADD-ON TERM LOAN NOTE

 

[Location of Execution]

[Date]

 

FOR VALUE RECEIVED, the undersigned, GCI HOLDINGS, INC., (the “Borrower”), hereby promises to pay to the order of [_______________] (the “Lender”) the unpaid principal amount of the Series 2 Add-on Term Loan, under and as such term is defined in Add-on Term Loan Supplement No. 2, dated as of July 22, 2011, among the Borrower, CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK (“Credit Agricole”), as Administrative Agent (as defined below), WELLS FARGO BANK, N.A., as a Lender and UNION BANK, N.A., as a Lender (“Supplement No. 2”), made by the Lender to the Borrower (the “Series 2 Add-on Term Loan”), in the amounts and at the times set forth in the Second Amended and Restated Credit and Guarantee Agreement, dated as of January 29, 2010, among the Borrower, GCI, Inc., the Subsidiary Guarantors party thereto, the Lenders party thereto, Credit Agricole, as administrative agent (Credit Agricole, in such capacity, the “Administrative Agent”), and the other Agents named therein (as the same may be amended, supplemented (including by Supplement No. 2) or otherwise modified from time to time, the “Credit Agreement”), and to pay interest from the date such Series 2 Add-on Term Loan was made on the principal balance of the Series 2 Add-on Term Loan from time to time outstanding at the rate or rates and at the times set forth in the Credit Agreement, in each case at the office of the Administrative Agent located at 1301 Avenue of the Americas, New York, New York, or at such other place as the Administrative Agent may specify to the Borrower in writing from time to time, in lawful money of the United States in immediately available funds.  Capitalized terms not otherwise defined herein but defined in the Credit Agreement are used herein with the same meanings.

 

The Series 2 Add-on Term Loan is prepayable in the amounts, and under the circumstances, and its maturity is subject to acceleration upon the terms, set forth in the Credit Agreement.  This Note is subject to, and should be construed in accordance with, the provisions of the Credit Agreement and is entitled to the benefits and security set forth in the Loan Documents.

 

The Lender is hereby authorized to record on the Schedule annexed hereto, and any continuation sheets which the Lender may attach hereto, (i) the date of the Series 2 Add-on Term Loan, (ii) the Type and amount thereof, (iii) the interest rate (without regard to the Applicable Margin) and Interest Period applicable to each Eurodollar Loan with respect thereto and (iv) the date and amount of each conversion of, and each payment or prepayment of the principal of, the Series 2 Add-on Term Loan.  The entries made on such Schedule shall be prima facie evidence of the existence and amounts of the obligations recorded thereon, provided that the failure to so record or any error therein shall not in any manner affect the obligation of the Borrower to repay the Series  2 Add-on Term Loan in accordance with the terms of the Credit Agreement.

 

Except as specifically otherwise provided in the Credit Agreement, the Borrower hereby waives presentment, demand, notice of dishonor, protest, notice of protest and all other demands, protests and notices in connection with the execution, delivery, performance, collection and enforcement of this Note.

 

Whenever in this Note either party hereto is referred to, such reference shall be deemed to include the successors and permitted assigns of such party.  The Borrower shall not have the right to assign its rights or obligations hereunder or any interest herein (and any such attempted assignment shall be void), except as expressly permitted by the Loan Documents.  No failure or delay of the Lender in exercising any power or right hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or further exercise thereof or the exercise of any other right or power.  Neither this Note nor any provision hereof may be waived, amended or modified, nor shall any departure therefrom be consented to, except pursuant to a written agreement entered into in accordance with Section 10.2 of the Credit Agreement.

 

THIS NOTE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES THAT WOULD REQUIRE THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION.

 

All communications and notices hereunder shall be in writing and given as provided in Section 10.1 of the Credit Agreement.

 

The Borrower, and by accepting this Note, the Lender each hereby irrevocably and unconditionally submits, for itself and its property, to the nonexclusive jurisdiction of any New York State court or Federal court of the United States of America sitting in New York City, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Note or the other Loan Documents, or for recognition or enforcement of any judgment in respect thereof, and each party hereby irrevocably and unconditionally agrees that, to the extent permitted by applicable law, all claims in respect of any such action or proceeding may be heard and determined in such New York State court or, to the extent permitted by applicable law, in such Federal court.  Nothing in this Note shall affect any right that the Lender may otherwise have to bring any action or proceeding relating to this Note or the other Loan Documents against the Borrower, or any of its property, in the courts of any jurisdiction.

 

The Borrower, and by accepting this Note, the Lender, hereby irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so, any objection that it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Note or the other Loan Documents in any court referred to in the preceding paragraph hereof.  The Borrower, and by accepting this Note, the Lender, hereby irrevocably waives, to the fullest extent permitted by applicable law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court.

 

The Borrower, and by accepting this Note, the Lender, irrevocably consents to service of process in the manner provided for notices herein.  Nothing herein will affect the right of the Borrower or Lender to serve process in any other manner permitted by law.

 

The Borrower is personally obligated and fully liable for the amount due under the Note. The Lender has the right to sue on the Note and obtain a personal judgment against the Borrower for satisfaction of the amount due under the Note either before or after a judicial foreclosure of any mortgage or deed of trust under AS 09.45.170 - 09.45.220.

 

THE BORROWER, AND BY ACCEPTING THIS NOTE, THE LENDER, EACH HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS NOTE.  THE BORROWER AND BY ACCEPTING THIS NOTE, THE LENDER, EACH (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF THE OTHER PARTY HAS REPRESENTED, EXPRESSLY OR, TO ITS KNOWLEDGE, OTHERWISE, THAT SUCH PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT THE OTHER PARTY HAS BEEN INDUCED TO EXECUTE OR ACCEPT THIS NOTE AND ENTER INTO THE LOAN DOCUMENTS TO WHICH IT IS A PARTY BY, AMONG OTHER THINGS, THE WAIVERS AND CERTIFICATIONS IN THIS PARAGRAPH.

 

[SIGNATURE PAGE FOLLOWS]

 

  

  

  

GCI HOLDINGS, INC.

 

By:                                                              

Name:                                                              

Title:                                                              

 

SERIES 2 ADD-ON TERM LOAN NOTE

  

  

  

SCHEDULE TO NOTE

 

	
 

Date

	
 

Type of Series 2 Add-on Term Loan

	
 

Amount of Series 2 Add-on Term Loan

	
 

Amount of principal converted, paid or prepaid

	
 

Interest Rate on Eurodollar Loans

	
 

Interest Period for Eurodollar Loans

	
 

Notation Made Bymm07-2511_8ke101.htm

 

 

 

 Exhibit 10.1

 

 

 

____________________________________________

 

 

 

 

L-1 IDENTITY SOLUTIONS, INC.

 

and

 

THE BANK OF NEW YORK MELLON, AS TRUSTEE

 

 

____________________________________________

 

 

First Supplemental Indenture

 

Dated as of July 25, 2011

 

to the

 

Indenture

 

Dated as of May 17, 2007

 

____________________________________________

 

 

 

 

  

  

  

FIRST SUPPLEMENTAL INDENTURE

 

This FIRST SUPPLEMENTAL INDENTURE (this “First Supplemental Indenture”), dated as of July 25, 2011, is entered into by and among L-1 Identity Solutions, Inc., a Delaware corporation (the “Company”) and The Bank of New York Mellon (formerly known as The Bank of New York), as Trustee (the “Trustee”).

 

RECITALS:

 

WHEREAS, the Company and the Trustee have heretofore entered into that certain Indenture, dated as of May 17, 2007 (the “Indenture”), to provide for the issuance of the Company’s 3.75% Convertible Senior Notes due 2027 (the “Securities”);

 

WHEREAS, the Company, Safran SA, a French société anonyme (the “Parent”) and Laser Acquisition Sub Inc., a Delaware corporation and a wholly-owned subsidiary of the Parent (the “Merger Sub”), entered into an Agreement and Plan of Merger, dated as of September 19, 2010 (the “Merger Agreement”);

 

WHEREAS, pursuant to the Merger Agreement, the Merger Sub will merge with and into the Company, with the Company continuing as the surviving corporation and the Company will become a subsidiary of the Parent (the “Merger”);

 

WHEREAS, as a result of the Merger, the Company will be a subsidiary of the Parent and, at the effective time of the Merger, each issued and outstanding share of the Company’s common stock, par value $0.001 (the “Common Stock”) (other than shares of Common Stock to be cancelled pursuant to Section 3.1(c) of the Merger Agreement, shares of Common Stock held by any subsidiary of the Company and Dissenting Shares, as defined in the Merger Agreement) shall be convertible into the right to receive $12.00 per share of Common Stock in cash without interest (the “Merger Consideration”);

 

WHEREAS, Section 12.05 of the Indenture provides, among other things, that in the case of any merger of the Company with another Person, as a result of which Common Stock would be converted into, or exchanged for stock, other securities, other property or assets (including cash or any combination thereof), where, following the effective time of any Reorganization Event, the right to receive shares of Common Stock upon conversion of Securities, if any, will be changed into a right to receive the Reference Property that a Holder would have been entitled to receive upon such Reorganization Event, the Company or the Successor Company will enter into a supplemental indenture providing for the settlement of converted Securities in the Merger Consideration;

 

WHEREAS, as a result of the Merger, pursuant to Section 12.05 of the Indenture, the Securities will be convertible into the amount of cash receivable upon the Merger by a Holder of the number of shares of Common Stock into which such Security might have been converted immediately prior to the Merger;

 

WHEREAS, all other acts and proceedings required by law and the Indenture necessary to authorize the execution and delivery of this First Supplemental Indenture and to make this First Supplemental Indenture a valid and binding agreement for the purposes expressed herein, in accordance with its terms, have been complied with or have been duly done or performed;

 

NOW THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the parties hereto mutually covenant and agree for the equal and ratable benefit of the Holders as follows:

 

  

  

  

ARTICLE I

 

DEFINITIONS

 

Section 1.01.          Definitions.

 

Capitalized terms used herein without definition shall have the meanings assigned to them in the Indenture. For all purposes of this First Supplemental Indenture, except as otherwise herein expressly provided or unless the context otherwise requires: (i) the terms and expressions used herein shall have the same meanings as corresponding terms and expressions used in the Indenture and (ii) the words “herein,” “hereof” and “hereby” and other words of similar import used in this First Supplemental Indenture refer to this First Supplemental Indenture as a whole and not to any particular section hereof.

 

ARTICLE II

 

AMENDMENTS

 

Section 2.01.          Conversion of Securities into Merger Consideration.

 

Following the effective time of the Merger, in accordance with and subject to Section 12.05 of the Indenture, settlement of Securities converted shall be in units of the Merger Consideration for each share of Common Stock into which the Holder is entitled to convert such outstanding Security and, upon conversion of the Securities by a Holder, the Company will pay to such Holder cash in an amount equal to the amount such Holder would have received as Merger Consideration had such Holder converted its Securities at the Applicable Conversion Rate in effect immediately prior to the Merger, in accordance with the terms and conditions of the Indenture and the Securities. Such amount will be cash at a rate equal to $375 per $1,000 principal amount of Securities so converted. Any adjustments, if applicable, provided for in Article XII of the Indenture shall apply as nearly equivalent as may be practical as those that applied immediately prior to the Merger.

 

ARTICLE III

 

MISCELLANEOUS

 

Section 3.01.          Reference to and Effect on the Indenture.

 

On and after the date of this First Supplemental Indenture, each reference in the Indenture to “this Indenture,” “hereunder,” “hereof,” or “herein” shall mean and be a reference to the Indenture as supplemented by this First Supplemental Indenture unless the context otherwise requires. The Indenture, as supplemented by this First Supplemental Indenture, shall be read, taken and construed as one and the same instrument. Except as specifically amended above, the Indenture shall remain in full force and effect and is hereby ratified and confirmed.

 

Section 3.02.          Governing Law.

 

This First Supplemental Indenture shall be governed by, and construed in accordance with, the laws of the State of New York.

 

Section 3.03.          Trust Indenture Act Controls.

 

No modification of any provisions of the Indenture effected by this First Supplemental Indenture is

 

  

2

  

intended to eliminate or limit any provision of the Indenture that is required to be included therein by the Trust Indenture Act of 1939, as amended, as in force as of the effectiveness of this First Supplemental Indenture.

 

Section 3.04.          Trustee Disclaimer; Trust.

 

The recitals contained in this First Supplemental Indenture shall be taken as the statements of the Company, and the Trustee assumes no responsibility for their correctness. The Trustee makes no representations as to the validity or sufficiency of this First Supplemental Indenture. The Trustee accepts the trust created by the Indenture, as supplemented by this First Supplemental Indenture, and agrees to perform the same upon the terms and conditions of the Indenture, as supplemented hereby.

 

Section 3.05.          Counterparts.

 

This First Supplemental Indenture may be executed in any number of counterparts, each of which shall be an original; but such counterparts shall constitute but one and the same instrument.

 

Section 3.06.          Effect of Headings.

 

The Article and Section headings herein are for convenience only and shall not affect the construction hereof.

 

Section 3.07.          Separability.

 

In case any provision of this First Supplemental Indenture shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be effected or impaired thereby.

 

Section 3.08.          Certain Duties and Responsibilities of the Trustee.

 

In entering into this First Supplemental Indenture, the Trustee shall be entitled to the benefit of every provision of the Indenture relating to the conduct or effecting the liability or affording protection to the Trustee, whether or not elsewhere herein so provided.

 

[THE REMAINDER OF THIS PAGE HAS BEEN INTENTIONALLY LEFT BLANK]

 

  

3

  

IN WITNESS WHEREOF, the parties hereto have caused this First Supplemental Indenture to be duly executed, all as of the day and year first written above.

 

L-1 IDENTITY SOLUTIONS, INC.

 

 

By:  /s/ Robert V. LaPenta_______________

Name: Robert V. LaPenta

Title:  Chairman of the Board, President and Chief Executive Officer

 

 

THE BANK OF NEW YORK MELLON

 

 

By:  /s/ Timothy W. Casey_______________

Name: Timothy W. Casey

Title:   Vice President

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

[Signature Page to First Supplemental Indenture]

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