Document:

exv10w1

Exhibit 10.1

AMENDMENT NO. 1 TO CREDIT AGREEMENT

     This AMENDMENT NO. 1 TO CREDIT AGREEMENT, dated as of May 13, 2011 (this “Amendment No. 1”),
is by and among HEALTHCARE TRUST OF AMERICA, INC., a Maryland corporation (the “Company”),
HEALTHCARE TRUST OF AMERICA HOLDINGS, LP, a Delaware limited partnership (the “Borrower”), the
Lenders party hereto, and Compass Bank, The Bank of Nova Scotia, Union Bank, N.A., and Sumitomo
Mitsui Banking Corporation (each, a “New Lender”, and, collectively, the “New Lenders”) and
JPMORGAN CHASE BANK, N.A., as administrative agent for the Lenders (the “Administrative Agent”).
Reference is made to that certain Credit Agreement, dated as of November 22, 2010 (the “Credit
Agreement”), by and among the Company, the Borrower, the Lenders referenced therein and the
Administrative Agent. Capitalized terms used herein without definition shall have the same meanings
as set forth in the Credit Agreement, as amended hereby.

RECITALS

     WHEREAS, the Borrower has requested that the Lenders permit the aggregate Commitments to be
increased to $575,000,000, extend the Maturity Date, and make other amendments to the Credit
Agreement, and the Lenders are willing to make such changes;

     WHEREAS, pursuant to Section 2.4 of the Credit Agreement, the Borrower has requested, and the
New Lenders, certain of the existing Lenders and the Administrative Agent have agreed, to increase
existing Commitments or provide new Commitments under the Credit Agreement; and

     WHEREAS, each of the New Lenders wishes to be added as a “Lender” under the Credit Agreement;

     NOW, THEREFORE, in consideration of the premises and the agreements, provisions and covenants
herein contained, the parties hereto agree as follows:

SECTION 1. AMENDMENTS TO CREDIT AGREEMENT. As of the Amendment Effective Date (as defined in
Section 4 hereof), the Credit Agreement is hereby amended as follows:

     1.1 Extension of Maturity Date. The definition of “Maturity Date” in Section 1.1 of
the Credit Agreement is restated in its entirety to read as follows:

     “Maturity Date” means May 13, 2014; provided that the Borrower may, at its
option (which shall be binding on the Lenders), by written notice to the Administrative
Agent (which shall promptly notify each of the Lenders) given at least thirty (30) but no
more than sixty (60) days prior to the then Maturity Date, extend the Maturity Date for up
to one (1) year (to not later than May 13, 2015) so long as (A) no Default or Event of
Default shall have occurred and be continuing on the date of such written notice, (B) each
of the representations and warranties made by any Loan Party in or pursuant to the Loan
Documents shall be true and correct in all material respects on and as of the date of such

 

 

written notice as if made on and as of such date (unless (x) such representations and
warranties expressly relate to an earlier date, in which case such representations and
warranties shall be true and correct in all material respects as of such earlier date or (y)
such representations and warranties are qualified as to “materiality”, “Material Adverse
Effect” or similar language, in which case such representations and warranties shall be true
and correct in all respects taking into account such language), and (C) the Borrower pays an
aggregate extension fee equal to 0.25% of the then existing Commitments (to the
Administrative Agent for the ratable benefit of the Lenders).”

     1.2 Definition of Restricted Payment. The definition of “Restricted Payment” in
Section 1.1 of the Credit Agreement is amended by inserting the words “, but excluding dividends
payable solely in additional shares of common stock of the Borrower” at the end of such definition.

     1.3 Increase of Amount of Permitted Incremental Commitments. Section 2.4(a) of the
Credit Agreement is amended by deleting the amount “$225,000,000” set forth in each of the fourth
and eleventh lines thereof and substituting the amount “$300,000,000” in place thereof.

     1.4 Amendment to Section 6.13(b). Section 6.13(b) of the Credit Agreement is amended
by restating such section in its entirety to read as follows:

“(b) Secured Leverage Ratio. Permit the ratio of Secured Indebtedness to
Total Asset Value as at the last day of any period of four consecutive fiscal
quarters of the Company to exceed 40%.”

     1.5 Deletion of Section 6.13(h). Section 6.13(h) of the Credit Agreement is amended
by deleting such section in its entirety and substituting the following in place thereof:

     “(h) [Reserved].”

     1.6 Revolving Commitment. The aggregate Commitments are increased to $575,000,000.

     1.7 Commitments. Schedule 2.1 to the Credit Agreement is hereby deleted in
its entirety and Schedule 2.1 to this Amendment No. 1 is substituted in place thereof.

     1.8 New Lenders. Compass Bank hereby agrees to provide a new Commitment in the amount
of fifty million dollars ($50,000,000). The Bank of Nova Scotia hereby agrees to provide a new
Commitment in the amount of forty-five million dollars ($45,000,000). Union Bank hereby agrees to
provide a new Commitment in the amount of forty million dollars ($40,000,000). Sumitomo Mitsui
Banking Corporation hereby agrees to provide a new Commitment in the amount of thirty-five million
($35,000,000). From and after the date hereof, each of the New Lenders shall be deemed to be a
Lender for all purposes of the Credit Agreement, and each reference to the Lenders in the Credit
Agreement shall be deemed to include each of the New Lenders. Each of the New Lenders hereby
covenants and agrees to become a party to any of the other Loan Documents as the Administrative
Agent may reasonably request. Each of the New Lenders appoints JPMorgan Chase Bank, N.A. as the
Administrative

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Agent and authorizes the Administrative Agent to take such action on its behalf and to
exercise such powers under the Credit Agreement and the other Loan Documents as are delegated to
the Administrative Agent by the terms thereof, together with such powers as are reasonably
incidental thereto. Each of JPMorgan Chase Bank, N.A., Wells Fargo Bank, N.A., Deutsche Bank AG
New York Branch, U.S. Bank National Association, Capital One, N.A., and Regions Bank confirms the
increase of its Commitment as set forth in Schedule 2.1 attached to this Amendment No. 1.

     1.9 Request and Waiver under Section 2.4 of Credit Agreement. This Amendment No. 1 is
and shall be deemed to be for all purposes of the Credit Agreement the first and the complete
exercise by the Borrower of its rights under Section 2.4 of the Credit Agreement (as amended
hereby) to request an increase of the Commitments. From and after the effectiveness of this
Amendment No. 1, the Borrower shall have no further rights to increase the Commitments under
Section 2.4 of the Credit Agreement.

     1.10 Representations, Warranties and Agreements of New Lender. Each of the New
Lenders (a) represents and warrants that (i) it has full power and authority, and has taken all
action necessary, to execute and deliver this Amendment No. 1 and to consummate the transactions
contemplated hereby and to become a Lender under the Credit Agreement, (ii) it meets all the
requirements to be an assignee under Section 9.4 of the Credit Agreement (subject to such consents,
if any, as may be required thereunder), (iii) from and after the Amendment Effective Date, it shall
be bound by the provisions of the Credit Agreement as a Lender thereunder and, to the extent of its
Commitment, shall have the obligations of a Lender thereunder, (iv) it has received a copy of the
Credit Agreement, and has received or has been accorded the opportunity to receive copies of the
most recent financial statements delivered pursuant to Section 5.1 of the Credit Agreement, as
applicable, and such other documents and information as it deems appropriate to make its own credit
analysis and decision to enter into this Amendment No. 1, (v) it has, independently and without
reliance upon the Administrative Agent or any other Lender and based on such documents and
information as it has deemed appropriate, made its own credit analysis and decision to enter into
this Amendment No. 1, and (vi) if it is a Foreign Lender, any documentation required to be
delivered by it pursuant to the terms of the Credit Agreement has been delivered to the
Administrative Agent; and (b) agrees that (i) it will, independently and without reliance upon the
Administrative Agent or any other Lender, and based on such documents and information as it shall
deem appropriate at the time, continue to make its own credit decisions in taking or not taking
action under the Loan Documents, and (ii) it will perform in accordance with their terms all of the
obligations which by the terms of the Loan Documents are required to be performed by it as a
Lender.

SECTION 2. REPRESENTATIONS AND WARRANTIES OF THE BORROWER AND THE COMPANY

          In order to induce the New Lenders and Administrative Agent to enter into this Amendment No.
1, the Borrower and the Company each represents and warrants to each New Lender and Administrative
Agent that the following statements are true, correct and complete:

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          (i) each of the Borrower and the Company has the power and authority, and the legal right, to
make, deliver and perform its obligations under the Credit Agreement as amended by this Amendment
No. 1 (the “Amended Agreement”);

          (ii) each of the Borrower and the Company has taken all necessary organizational action to
authorize the execution, delivery and performance of this Amendment No. 1;

          (iii) no consent or authorization of, filing with, notice to or other act by or in respect of,
any Governmental Authority or any other Person is required in connection with the execution,
delivery, performance, validity or enforceability of this Amendment No. 1, except consents,
authorizations, filings and notices which have been obtained or made and are in full force and
effect;

          (iv) the execution, delivery and performance of this Amendment No. 1 will not violate any
Requirement of Law or any Contractual Obligation of any Group Member, except for any such violation
which could not reasonably be expected to have a Material Adverse Effect, and will not result in,
or require, the creation or imposition of any Lien on any of their respective properties or
revenues pursuant to any Requirement of Law or any such Contractual Obligation.

          (v) this Amendment No. 1 and the Amended Agreement have been duly executed and delivered by
the Borrower and the Company and are the legal, valid and binding obligations of Borrower and the
Company, enforceable against the Borrower and the Company in accordance with their respective
terms, except as enforceability may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally
and by general equitable principles (whether enforcement is sought by proceedings in equity or at
law);

          (vi) the representations and warranties of the Borrower and the Company contained in Section 3
of the Credit Agreement are and will be true and correct in all material respects on and as of the
date hereof and the Amendment Effective Date to the same extent as though made on and as of such
dates, except to the extent such representations and warranties specifically relate to an earlier
date, in which case they were true and correct in all material respects on and as of such earlier
date; and

          (vii) no event has occurred and is continuing or will result from the consummation of the
transactions contemplated by this Amendment No. 1 that would constitute a Default or Event of
Default.

SECTION 3. ACKNOWLEDGEMENT AND CONSENT

     Each Guarantor has read this Amendment No. 1 and consents to the terms hereof and further
hereby confirms and agrees that, notwithstanding the effectiveness of this Amendment No. 1, the
obligations of such Guarantor under each of the Loan Documents to which such Guarantor is a party
shall not be impaired and each of the Loan Documents to which such Guarantor is a party is, and
shall continue to be, in full force and effect and is hereby confirmed and ratified in all
respects.

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     Each of the Company, the Borrower and the Subsidiary Guarantors hereby acknowledges and agrees
that the Guarantied Obligations under, and as defined in, the Guaranty, dated as of November 22,
2010, by and among the Company, Borrower, the Subsidiary Guarantors and the Administrative Agent
(the “Guaranty”) will include all Obligations under, and as defined in, the Credit Agreement (as
amended hereby).

     Each Guarantor acknowledges and agrees that (i) notwithstanding the conditions to
effectiveness set forth in this Amendment No. 1, such Guarantor is not required by the terms of the
Credit Agreement or any other Loan Document to consent to the amendments to the Credit Agreement
effected pursuant to this Amendment No. 1 and (ii) nothing in the Credit Agreement, this Amendment
No. 1 or any other Loan Document shall be deemed to require the consent of such Guarantor to any
future amendments to the Credit Agreement.

SECTION 4. CONDITIONS TO EFFECTIVENESS

     Except as set forth below, Section 1 of this Amendment No. 1 shall become effective only upon
the satisfaction of the following conditions precedent (the date of satisfaction of such conditions
being referred to as the “Amendment Effective Date”):

     A. The Borrower, the Company, the other Guarantors, the Administrative Agent, each of the
Lenders, and each of the New Lenders shall have indicated their consent hereto by the execution and
delivery of the signature pages hereof to the Administrative Agent.

     B. The Administrative Agent shall have received a secretary’s certificate of the Company and
the Borrower (i) either confirming that there have been no changes to its organizational documents
since November 22, 2010, or if there have been changes to the Company’s or the Borrower’s
organizational documents since such date, certifying as to such changes, and (ii) certifying as to
resolutions and incumbency of officers with respect to this Amendment No. 1 and the transactions
contemplated hereby.

     C. The New Lenders and the Administrative Agent shall have received all reasonable
out-of-pocket costs and expenses for which invoices have been presented (including the reasonable
fees and expenses of legal counsel for which the Borrower agrees it is responsible pursuant to
Section 9.3 of the Credit Agreement), incurred in connection with this Amendment No. 1.

     D. Execution and delivery to the Administrative Agent by the Borrower of Notes in favor of
the New Lenders and replacement Notes in favor of the Lenders that are increasing their
Commitments, in each case in the amounts of their respective Commitments set forth on Schedule
2.1 attached hereto.

     E. Delivery to the Administrative Agent by Cox, Castle & Nicholson LLP, as counsel to the
Borrower, of an opinion addressed to the Lenders, the New Lenders and the Administrative Agent in
form and substance reasonably satisfactory to the Administrative Agent.

     F. Payment by the Borrower of any agreed upon compensation to the Lenders as provided in
Section 2.4 of the Credit Agreement arising out of the addition of each of the New

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Lenders as a “Lender” under the Credit Agreement, the increases of the Commitments and any
resulting reallocation of the Loans.

     G. The conditions set forth in Section 4.2 of the Credit Agreement shall have been satisfied
and the Administrative Agent shall have received a certificate dated the Amendment Effective Date
and executed by a Responsible Officer of the Borrower that such conditions have been satisfied and
that the Borrower shall be in pro forma compliance with the covenants set forth in Section 6.13 of
the Credit Agreement after giving effect to the incremental Commitments, the Loans, if any, to be
made thereunder on the Amendment Effective Date and the application of the proceeds, if any,
therefrom as if made and applied on such date and after giving effect to this Amendment No. 1.

SECTION 5. MISCELLANEOUS

     A. Reference to and Effect on the Credit Agreement and the Other Loan Documents.

          (i) On and after the effective date of this Amendment No. 1, each reference in the Credit
Agreement to “this Agreement”, “hereunder”, “hereof”, “herein” or words of like import referring to
the Credit Agreement and each reference in the other Loan Documents to the “Credit Agreement”,
“thereunder”, “thereof” or words of like import referring to the Credit Agreement shall mean and be
a reference to the Credit Agreement as amended hereby.

          (ii) Except as specifically amended by this Amendment No. 1, the Credit Agreement and the
other Loan Documents shall remain in full force and effect and are hereby ratified and confirmed.

          (iii) The execution, delivery and performance of this Amendment No. 1 shall not, except as
expressly provided herein, constitute a waiver of any provision of, or operate as a waiver of any
right, power or remedy of the Administrative Agent or any Lender under the Credit Agreement or any
of the other Loan Documents.

     B. Headings. Section and subsection headings in this Amendment No. 1 are included herein for
convenience of reference only and shall not constitute a part of this Amendment No. 1 for any other
purpose or be given any substantive effect.

     C. Applicable Law. THIS AMENDMENT NO. 1 AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES
HEREUNDER SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE
STATE OF NEW YORK.

     D. Counterparts; Effectiveness. This Amendment No. 1 may be executed in any number of
counterparts and by different parties hereto in separate counterparts, each of which when so
executed and delivered shall be deemed an original, but all such counterparts together shall
constitute but one and the same instrument; signature pages may be detached from multiple separate
counterparts and attached to a single counterpart so that all signature pages are physically
attached to the same document. This Amendment No. 1 (other than the provisions of Section 1
hereof, the effectiveness of which is governed by Section 4 hereof) shall become

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effective upon the execution of a counterpart hereof by the Company, Borrower and the New
Lenders and receipt by Borrower and Administrative Agent of written or telephonic notification of
such execution and authorization of delivery thereof.

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     IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 1 to be duly executed
and delivered by their respective officers thereunto duly authorized as of the date first written
above.

	 	 	 	 	 	 	 

	COMPANY:	 	HEALTHCARE TRUST OF AMERICA, INC.
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Kellie S. Pruitt
 

Name: Kellie S. Pruitt
	 	 
	 

	 	 	 	Title: Chief Financial Officer	 	 
	 
	 	 	 	 	 	 
	BORROWER:	 	HEALTHCARE TRUST OF AMERICA HOLDINGS, LP
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Healthcare Trust
of America, Inc., its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Kellie S. Pruitt
 

Name: Kellie S. Pruitt
	 	 
	 

	 	 	 	Title: Chief Financial Officer	 	 

 

 

	 	 	 

	 

	 	SUBSIDIARY GUARANTORS
	(FOR PURPOSES OF
	 	 
	SECTION 3):

	 	HTA — SKYLYN, LLC
	 

	 	HTA — SUGAR LAND, LLC
	 

	 	HTA — LOCH RAVEN, LLC
	 

	 	HTA — CORSICANA, LLC
	 

	 	HTA — FORT WAYNE, LLC
	 

	 	HTA — SAN ANGELO, LLC
	 

	 	HTA — MOUNTAIN PLAINS-TX, LLC
	 

	 	HTA — WISCONSIN MOB PORTFOLIO, LLC
	 

	 	HTA — TRIUMPH, LLC
	 

	 	HTA — 2750 MONROE, LLC
	 

	 	HTA — LIMA, LLC
	 

	 	HTA — CAMP CREEK, LLC
	 

	 	HTA — AMARILLO HOSPITAL, LLC
	 

	 	HTA — DENTON, LLC
	 

	 	HTA — EAST COOPER, LLC
	 

	 	HTA — TUCSON MEDICAL OFFICE, LLC
	 

	 	HTA — CANNON PARK PLACE, LLC
	 

	 	HTA — ST. MARY PHYSICIAN CENTER, LLC
	 

	 	HTA — MEDICAL PORTFOLIO 4, LLC
	 

	 	HTA — FORT ROAD MEDICAL, LLC
	 

	 	HTA — LIBERTY FALLS MEDICAL PLAZA, LLC
	 

	 	HTA — VISTA PROFESSIONAL CENTER, LLC
	 

	 	HTA — OKLAHOMA CITY, LLC
	 

	 	HTA — POUGHKEEPSIE, LLC
	 

	 	HTA — SAN MARTIN, LLC
	 

	 	HTA — MEDICAL PORTFOLIO 4 — PARMA, LLC
	 

	 	HTA — E FLORIDA LTC, LLC
	 
	 	 
	 

	 	By: Healthcare Trust of America Holdings, LP, the
sole member
of each of the above Subsidiary Guarantors

	 	 	 	 	 	 	 	 	 

	 	 	By:	 	Healthcare Trust of America, Inc.,
its general partner	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:
	 	/s/ Kellie S. Pruitt	 	 
	 

	 	 	 	Name:
	 	 

Kellie S. Pruitt
	 	 
	 

	 	 	 	Title:
	 	Chief Financial Officer	 	 

 

 

LENDERS:

	 	 	 	 	 
	 	J.P. MORGAN CHASE BANK, N.A.,

as Administrative Agent

 	 
	 	By:  	                                                  /s/ Brendan M. Poe
 	 
	 	 	Name:  	Brendan M. Poe 	 
	 	 	Title:  	Vice President 	 
	 

 

 

	 	 	 	 	 	 	 

	 	 	DEUTSCHE BANK AG NEW YORK BRANCH	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	/s/ Frederick W. Laird	 	 
	 

	 	Name:
	 	 

Frederick W. Laird
	 	 
	 

	 	Title:
	 	Managing Director	 	 
	 
	 	 	 	 	 	 
	 

	 	By
	 	/s/ Ming K. Chu	 	 
	 

	 	Name:
	 	 

Ming K. Chu
	 	 
	 

	 	Title:
	 	Vice President	 	 

 

 

	 	 	 	 	 	 	 

	 	 	WELLS FARGO BANK, N.A.	 	 
	 
	 	 	 	 	 	 
	 

	 	By

Name:
	 	/s/ Bronson Naab
 

Bronson Naab
	 	 
	 

	 	Title:
	 	Assistance Vice President	 	 

 

 

	 	 	 	 	 	 	 

	 	 	FIFTH THIRD BANK, an Ohio banking corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By

Name:
	 	/s/ Matthew D. Rogers
 

Matthew D. Rogers
	 	 
	 

	 	Title:
	 	VP	 	 

 

 

	 	 	 	 	 	 	 

	 	 	U.S. BANK NATIONAL ASSOCIATION	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

Name:
	 	/s/ Troy Lyscio
 

Troy Lyscio
	 	 
	 

	 	Title:
	 	Vice President	 	 

 

 

	 	 	 	 	 	 	 

	 	 	CAPITAL ONE, N.A.	 	 
	 
	 	 	 	 	 	 
	 

	 	By

Name:
	 	/s/ Frederick H. Denecke
 

Frederick H. Denecke
	 	 
	 

	 	Title:
	 	Vice President	 	 

 

 

	 	 	 	 	 	 	 

	 	 	REGIONS BANK	 	 
	 
	 	 	 	 	 	 
	 

	 	By

Name:
	 	/s/ Eric Smith
 

Eric Smith
	 	 
	 

	 	Title:
	 	SVP	 	 

 

 

	 	 	 	 	 	 	 

	 	 	COMPASS BANK, as New Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

	 	/s/ Chris Cain
 

Name: Chris Cain
	 	 
	 

	 	
	 	Title:   Senior Vice President	 	 

 

 

	 	 	 	 	 	 	 

	 	 	THE BANK OF NOVA SCOTIA, as New Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:

	 	/s/ Michelle C. Philips
 

Name: Michelle C. Philips
	 	 
	 

	 	
	 	Title:   Director	 	 

 

 

	 	 	 	 	 
	 	UNION BANK, N.A., as New Lender

 	 
	 	By:  	/s/ Joshua Gross
 	 
	 	 	Name:  	Joshua Gross 	 
	 	 	Title:  	Assistant Vice President 	 
	 

 

 

	 	 	 	 	 
	 	SUMITOMO MITSUI BANKING 
CORPORATION, as New
Lender

 	 
	 	By:  	/s/ Yuji Kozawa
 	 
	 	 	Name:  	Yuji Kozawa 	 
	 	 	Title:  	Senior Vice President 	 
	 

 

 

SCHEDULE 2.1

Commitments

	 	 	 	 	 
	Lender Name	 	Commitment Amount
	JPMorgan Chase Bank, N.A.
	 	$	75,000,000	 
	Wells Fargo Bank, N.A.
	 	$	65,000,000	 
	Deutsche Bank AG New York Branch
	 	$	65,000,000	 
	U.S. Bank National Association
	 	$	60,000,000	 
	Capital One, N.A.
	 	$	50,000,000	 
	Regions Bank
	 	$	50,000,000	 
	Compass Bank
	 	$	50,000,000	 
	The Bank of Nova Scotia
	 	$	45,000,000	 
	Fifth Third Bank, an Ohio banking corporation
	 	$	40,000,000	 
	Union Bank, N.A.
	 	$	40,000,000	 
	Sumitomo Mitsui Banking Corporation
	 	$	35,000,000	 
	 
	 	 	 	 
	TOTAL:
	 	$	575,000,000Exhibit 4.2

Exhibit 4.2

WESTWOOD ONE, INC.

SIXTH AMENDMENT TO SECURITIES PURCHASE AGREEMENT

THIS SIXTH AMENDMENT TO SECURITIES PURCHASE AGREEMENT (this “Amendment”), is made and entered
into as of May 11, 2011, by and among Westwood One, Inc., a Delaware corporation (the “Company”),
the Subsidiaries of the Company set forth on the signature pages hereto (collectively, the
“Subsidiary Guarantors”), and Gores Radio Holdings, LLC, the sole holder of the Notes (the
“Noteholder”). Capitalized terms used and not defined herein have the respective meanings ascribed
thereto in the Securities Purchase Agreement (defined below).

WITNESSETH:

WHEREAS, the Company and the Noteholder are parties to that certain Securities Purchase
Agreement, dated as of April 23, 2009, as amended by that certain Waiver and First Amendment to
Securities Purchase Agreement, dated as of October 14, 2009, that certain Second Amendment to
Securities Purchase Agreement, dated as of March 30, 2010, that certain Third Amendment to
Securities Purchase Agreement and First Amendment to Investor Rights Agreement, dated as of August
17, 2010, that certain Waiver and Fourth Amendment to Securities Purchase Agreement, dated as of
April 12, 2011, and that certain Fifth Amendment to Securities Purchase Agreement, dated as of
April 29, 2011 (as so amended and in effect on the date hereof, the “Existing Securities Purchase
Agreement” and as in effect after giving effect to this Amendment and as may be further, amended,
restated or otherwise modified from time to time, the “Securities Purchase Agreement”), pursuant to
which the Company issued $117,500,000 of its 15% Senior Secured Notes due July 15, 2012 (the
“Notes”);

WHEREAS, the Company has requested that the Noteholder amend certain terms and provisions of
the Existing Securities Purchase Agreement as more particularly provided herein; and

WHEREAS, subject to the satisfaction of the conditions set forth in Section 2 hereof, the
Noteholder is willing to amend such provisions of the Existing Securities Purchase Agreement on the
terms and conditions set forth herein;

 

 

 

NOW, THEREFORE, for good and valuable consideration, the sufficiency and receipt of all of
which are hereby acknowledged, the Company and the Noteholder agree as follows:

1. Amendments to Securities Purchase Agreement. Section 9.15 of the Existing
Securities Purchase Agreement is hereby amended and restated in its entirety to read as follows
(the “Securities Purchase Agreement Amendment”):

“Section 9.15. [Intentionally Omitted.]”

2. Conditions to Effectiveness of this Amendment. This Amendment shall become
effective when (and no provision of this Amendment shall be effective until) each of the following
conditions has been satisfied:

(a) the Noteholder shall have received a copy of this Amendment executed by the Company, the
Subsidiary Guarantors and the Required Holders; and

(b) the following additional conditions shall have been satisfied:

(i) the representations and warranties set forth in Section 3 of this Amendment shall
be true and correct as of the date hereof; and

(ii) all corporate and other proceedings in connection with the transactions
contemplated by this Amendment and all documents and instruments incident to such
transactions shall be reasonably satisfactory to the Noteholder and its special counsel
(such satisfaction to be evidenced by the execution and delivery of this Amendment by the
Noteholder).

The date on which all such conditions to the effectiveness of this Amendment have been met is
referred to herein as the “Effective Date”.

3. Representations and Warranties. To induce the Noteholder to enter into this
Amendment, the Company hereby represents and warrants to the Noteholder that:

(a) The execution and delivery by the Company and the Subsidiary Guarantors of this
Amendment, and the performance by the Company and the Subsidiary Guarantors of this Amendment and
the Securities Purchase Agreement and the other Financing Documents to which they are parties (i)
are within each of the Company’s and the Subsidiary Guarantors’ power and authority; (ii) have
been duly authorized by all necessary corporate action; (iii) are not in contravention of any
provision of any of the Company’s or any Subsidiary Guarantor’s certificate of incorporation or
bylaws or other organizational documents; (iv) do not violate any law or regulation, or any order
or decree of any Governmental Authority applicable to the Company or any Subsidiary; (v) do not
conflict with or result in the breach or termination of, constitute a default under or accelerate
any performance required by, any indenture, mortgage, deed of trust, lease, agreement or other
instrument to which the Company or any of its Subsidiaries is a party or by which the Company or
any such Subsidiary or any of their respective property is bound; (vi) do not result in the
creation or imposition of any Lien upon any of the property of the Company or any of its
Subsidiaries (except pursuant to the Security Documents); and (vii) except for such consents or
approvals as have already been obtained, do not require the consent or approval of any
Governmental Authority or any other Person.

 

2

 

(b) This Amendment has been duly executed and delivered by the Company and the Subsidiary
Guarantors and this Amendment constitutes, a legal, valid and binding obligation of the Company
and the Subsidiary Guarantors, enforceable against
the Company and the Subsidiary Guarantors in accordance with its terms except as the
enforceability hereof may be limited by bankruptcy, insolvency, reorganization, moratorium and
other laws affecting creditors’ rights and remedies in general or by general principles of
equity.

(c) No Default or Event of Default has occurred and is continuing as of the date hereof and
as of the Effective Date.

(d) The representations and warranties of each of the Company and the Subsidiary Guarantors
and each other Obligor contained in the Securities Purchase Agreement and each of the other
Financing Documents are true and correct as of the date hereof as if made on the date hereof
(other than those which, by their terms, specifically are made as of certain dates prior to the
date hereof, which are true and correct as of such dates).

4. Effect of Amendment. Except as expressly set forth herein, all terms of the
Existing Securities Purchase Agreement, as amended hereby, each other Financing Document and any
document entered into in connection therewith, shall be and remain in full force and effect.
Except as expressly set forth herein, the execution, delivery and effectiveness of this Amendment
shall not operate as a waiver of any right, power or remedy of the Noteholder under the Existing
Securities Purchase Agreement, any other Financing Document or any other documents entered into in
connection therewith, nor constitute a waiver of any provision of the Existing Securities Purchase
Agreement, any other Financing Document or any other documents entered into in connection
therewith. Any and all notices, requests, certificates and other instruments executed and
delivered after the execution and delivery of this Amendment may refer to the Existing Securities
Purchase Agreement without making specific reference to this Amendment, but nevertheless all such
references shall include this Amendment unless the context otherwise requires.

5. Confirmation of Amended and Restated Guarantee. By executing this Amendment each
of the Subsidiary Guarantors acknowledges and confirms that (a) the Amended and Restated Guarantee
continues in full force and effect notwithstanding the Securities Purchase Agreement Amendment and
(b) the indebtedness, liabilities and obligations of the Company under the Securities Purchase
Agreement, each other Financing Document and this Amendment constitute indebtedness, liabilities
and obligations guaranteed under the Amended and Restated Guarantee. Nothing in this Amendment
extinguishes, novates or releases any right, claim, or entitlement of the Noteholder created by or
contained in the Securities Purchase Agreement, the Notes or the Amended and Restated Guarantee nor
is the Company or any Subsidiary Guarantor released from any covenant, warranty or obligation
created by or contained herein or therein, except as such rights, claims, entitlements, covenants
and obligations are specifically extinguished, released or amended by this Amendment.

 

3

 

6. Release.

(a) In consideration of the agreements of the Noteholder contained herein and for other good
and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, each of
the Company and each Subsidiary Guarantor, on behalf of itself and its successors, assigns, and
other legal representatives, hereby absolutely, unconditionally and irrevocably releases, remises
and forever discharges the Noteholder, and its successors and assigns, and its present and former
shareholders, affiliates, subsidiaries, divisions, predecessors, directors, officers, attorneys,
financial advisors, employees, agents and other representatives (the Noteholder and all such
other Persons being hereinafter referred to collectively as the “Releasees” and individually as a
“Releasee”), of and from all demands, actions, causes of action, suits, covenants, contracts,
controversies, agreements, promises, sums of money, accounts, bills, reckonings, damages and any
and all other claims, counterclaims, defenses, rights of set-off, demands and liabilities
whatsoever (individually, a “Claim” and collectively, “Claims”) of every name and nature, either
known or suspected, both at law and in equity, which the Company, any Subsidiary Guarantor or any
of their successors, assigns, or other legal representatives may now or hereafter own, hold, have
or claim to have against the Releasees or any of them for, upon, or by reason of any
circumstance, action, cause or thing whatsoever which arises at any time on or prior to the day
and date of this Amendment, including, without limitation, for or on account of, or in relation
to, or in any way in connection with any of the Securities Purchase Agreement, any of the other
Financing Documents or any other documents entered into in connection therewith or transactions
thereunder or related thereto.

(b) Each of the Company and the Subsidiary Guarantors understands, acknowledges and agrees
that the release set forth above may be pleaded as a full and complete defense and may be used as
a basis for an injunction against any action, suit or other proceeding which may be instituted,
prosecuted or attempted in breach of the provisions of such release.

7. Governing Law. This Amendment shall be governed by, and construed in accordance
with, the internal laws of the State of New York excluding choice-of-law principles of the law of
such State that would require the application of the laws of a jurisdiction other than such State.

8. No Novation. This Amendment is not intended by the parties to be, and shall not be
construed to be, a novation of the Existing Securities Purchase Agreement or an accord and
satisfaction in regard thereto.

9. Amendments. This Amendment may not be amended, waived or modified without the
prior written consent of the Company and the Noteholder.

10. Severability. Any provision of this Amendment that is prohibited or unenforceable
in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such
prohibition or unenforceability without invalidating the remaining provisions hereof, and any such
prohibition or unenforceability in any jurisdiction shall (to the full
extent permitted by law) not invalidate or render unenforceable such provision in any other
jurisdiction.

 

4

 

11. Counterparts. This Amendment may be executed by one or more of the parties hereto
in any number of separate counterparts, each of which shall be deemed an original and all of which,
taken together, shall be deemed to constitute one and the same instrument. Delivery of an executed
counterpart of this Amendment by facsimile transmission or by electronic mail in pdf form shall be
as effective as delivery of a manually executed counterpart hereof.

12. Binding Nature. This Amendment shall be binding upon and inure to the benefit of
the parties hereto and their respective successors and assigns.

13. Entire Understanding. This Amendment and the other Financing Documents set forth
the entire understanding of the parties with respect to the matters set forth herein and therein,
and shall supersede any prior negotiations or agreements, whether written or oral, with respect
thereto.

14. Headings. The headings of the sections of this Amendment are inserted for
convenience only and shall not be deemed to constitute a part of this Amendment.

[Signature Pages To Follow]

 

5

 

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

	 	 	 	 	 
	 	COMPANY:

WESTWOOD ONE, INC.

 	 
	 	By:  	/s/
Roderick M. Sherwood, III 	 
	 	 	Name:  	Roderick M. Sherwood, III 	 
	 	 	Title:  	President and CFO 	 

[Signature page to Sixth Amendment to Securities Purchase Agreement]

 

 

 

	 	 	 	 	 
	 	SUBSIDIARY GUARANTORS:

WESTWOOD NATIONAL RADIO CORPORATION

WESTWOOD ONE PROPERTIES, INC.

WESTWOOD ONE RADIO, INC.

WESTWOOD ONE RADIO NETWORKS, INC.

WESTWOOD ONE STATIONS — NYC, INC.

 	 
	 	By:  	/s/
Roderick M. Sherwood, III 	 
	 	 	Name:  	Roderick M. Sherwood, III 	 
	 	 	Title:  	Authorized Signatory 	 

[Signature page to Sixth Amendment to Securities Purchase Agreement]

 

 

 

The foregoing is hereby agreed to as of the date thereof.

	 	 	 	 	 	 	 
	GORES RADIO HOLDINGS, LLC, as Noteholder	 	 
	By:	 	The Gores Group, LLC, its Manager	 	 
	 
	 	 	 	 	 	 
	By:

	 	/s/ Steven G. Eisner	 	 
	 	 	 	 	 
	 

	 	Name:
	 	Steven G. Eisner	 	 
	 

	 	Title:
	 	Senior Vice President	 	 

[Signature page to Sixth Amendment to Securities Purchase Agreement]

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