Document:

discoverycreditagreement

                                                              EXECUTION VERSION            AMENDMENT NO. 2 TO AMENDED AND RESTATED CREDIT AGREEMENT          This AMENDMENT NO. 2 TO AMENDED AND RESTATED CREDIT AGREEMENT (this   “Amendment”) dated as of April 30, 2020, is made among DISCOVERY COMMUNICATIONS, LLC,   a Delaware corporation (the “Company”), DISCOVERY COMMUNICATIONS EUROPE LTD., DNI   GLOBAL LLP,     DISCOVERY CORPORATE SERVICES LIMITED,             DISCOVERY   LUXEMBOURG HOLDINGS 1 S.A.R.L., a private limited liability company (société à responsabilité   limitée) incorporated and existing under the laws of the Grand-Duchy of Luxembourg, having its registered   office at 2, rue Hildegard von Bingen L – 1282 Luxembourg Grand Duchy of Luxembourg, registered with   the Luxembourg Trade and Companies Register (Registre de Commerce et des Sociétés) under number B   177.720, DISCOVERY NETWORKS ASIA-PACIFIC PTE. LTD., DISCOVERY NETWORKS, S.L.   and DISCOVERY COMMUNICATIONS BENELUX B.V.        (each a “Designated Borrower” and,   together with the Company, the “Borrowers”), DISCOVERY, INC. (the “Facility Guarantor”), BANK OF   AMERICA, N.A., in its capacity as administrative agent for the Lenders (as defined in the Credit   Agreement described below) (in such capacity, the “Administrative Agent”) and the Lenders party hereto   (each, a “Consenting Lender”).  Each capitalized term used and not otherwise defined in this Amendment   has the definition specified in the Amended Credit Agreement described below.                                       RECITALS:            A. The Borrowers, the Facility Guarantor, the Administrative Agent and certain financial  institutions party thereto from time to time (the “Lenders”) have entered into that certain Amended and   Restated Credit Agreement dated as of February 4, 2016 (as amended, restated, supplemented or otherwise  modified prior to the date hereof, the “Credit Agreement” and as amended after giving effect to this   Amendment, the “Amended Credit Agreement”), pursuant to which the Lenders have made available to the   Borrowers a senior revolving credit facility.          B. The Company has requested that the Credit Agreement be amended as set forth herein.          C. The Administrative Agent and the Consenting Lenders are willing to amend the Credit  Agreement on the terms and conditions set forth herein.          In consideration of the premises and further valuable consideration, the receipt and sufficiency of  which is hereby acknowledged, the parties hereto agree as follows:           Section 1.  Amendments to Credit Agreement. Subject to the terms and conditions set forth   herein and in reliance upon the representations and warranties set forth herein, as of the Amendment   Effective Date (as defined below), the parties hereto hereby agree that the Credit Agreement (exclusive of   the Schedules and Exhibits thereto) is hereby amended by making the changes attached hereto as Annex A   (with stricken text being deemed deleted and bold/double-underlined text being deemed added).          Section 2.  Effectiveness; Conditions Precedent.  This Amendment, and the amendments to   the Credit Agreement provided in Section 1 hereof, shall become effective on the first Business Day on   which the following conditions precedent are satisfied or waived (the “Amendment Effective Date”):                 (i)   the Administrative Agent shall have received, in form and substance reasonably        satisfactory to the Administrative Agent, each of the following:                     (A)   at least one fully executed copy of this Amendment, duly executed by each              of the Loan Parties, the Administrative Agent and the Required Lenders;  

 

                   (B)   (1) upon the reasonable request of any Lender made at least 3 days prior              to the Amendment Effective Date, each Borrower shall have provided to such Lender the              documentation and other information so requested in connection with applicable “know              your customer” and anti-money-laundering rules and regulations, including the Act, in each              case at least two days prior to the Amendment Effective Date and (2) at least two days prior              to the Amendment Effective Date, if any Borrower qualifies as a “legal entity customer”              under the Beneficial Ownership Regulation, the Company shall deliver to each requesting              Lender a Beneficial Ownership Certification in relation to such Borrower;               (ii)  on or before the Amendment Effective Date, to the Person to whom such fees are        owing, any fees required to be paid pursuant to this Amendment or the fee letter dated as of the        date hereof among the Company, the Facility Guarantor, Bank of America and BofA Securities,        Inc.; and               (iii) unless waived by the Administrative Agent, the Company shall have paid all fees,        charges and disbursements of counsel to the Administrative Agent (directly to such counsel if        requested by the Administrative Agent) to the extent invoiced at least two Business Days prior to        the Amendment Effective Date, plus such additional amounts of such fees, charges and        disbursements as shall constitute its reasonable estimate of such fees, charges and disbursements        incurred or to be incurred by it through the closing proceedings (provided that such estimate shall        not thereafter preclude a final settling of accounts between the Company and the Administrative        Agent).          Without limiting the generality of the provisions in Article IX of the Credit Agreement, for   purposes of determining compliance with the conditions specified in this Section, each Lender that has   signed this Amendment shall be deemed to have consented to, approved or accepted or to be satisfied with,   each document or other matter required thereunder to be consented to or approved by or acceptable or   satisfactory to a Lender unless the Administrative Agent shall have received notice from such Lender prior  to the date hereof specifying its objection thereto.         Section 3.    Representations and Warranties.  In order to induce the Administrative Agent   and the Consenting Lenders to enter into this Amendment, each of the Borrowers and the Facility Guarantor   represents and warrants to the Administrative Agent and the Lenders as follows:          (a)   The representations and warranties of each Loan Party contained in Article V of the Credit   Agreement and in each other Loan Document to which such Loan Party is a party, or in any document   furnished at any time under or in connection herewith or therewith, are true and correct in all material   respects (without duplication of any materiality qualification included in the terms of any such   representation or warranty) on and as of the date hereof, except to the extent that such representations and   warranties specifically refer to an earlier date, in which case they are true and correct in all material respects   (without duplication of any materiality qualification included in the terms of any such representation or   warranty) as of such earlier date, and except that for purposes hereof, the representations and warranties   contained in subsections (a) and (b) of Section 5.05 shall be deemed to refer to the most recent statements   furnished pursuant to subsections (a) and (b), respectively, of Section 6.01;          (b)   This Amendment has been duly authorized, executed and delivered by each Borrower and  the Facility Guarantor and constitutes a legal, valid and binding obligation of each Borrower and the Facility  Guarantor, enforceable against each Borrower and the Facility Guarantor in accordance with its terms,  except as may be limited by applicable Debtor Relief Laws and general principles of equity, regardless of  whether considered in a proceeding in equity or at law; and         (c)    As of the date hereof, no Default or Event of Default has occurred and is continuing.                                         2    

 

       Section 4.  Entire Agreement.  This Amendment, together with all the other Loan Documents   (collectively, the “Relevant Documents”), sets forth the entire understanding and agreement of the parties   hereto in relation to the subject matter hereof and supersedes any prior negotiations and agreements among   the parties relating to such subject matter.  No promise, condition, representation or warranty, express or   implied, not set forth in the Relevant Documents shall bind any party hereto, and no such party has relied   on any such promise, condition, representation or warranty.  Each of the parties hereto acknowledges that,   except as otherwise expressly stated in the Relevant Documents, no representations, warranties or   commitments, express or implied, have been made by any party to the other in relation to the subject matter   hereof or thereof.  None of the terms or conditions of this Amendment may be changed, modified, waived  or canceled orally or otherwise, except in writing and in accordance with Section 11.01 of the Credit   Agreement.  This Amendment is a Loan Document.           Section 5.  Full Force and Effect of Agreement.  Except as hereby specifically amended,   modified or supplemented, the Credit Agreement and all other Loan Documents are hereby confirmed and   ratified in all respects and shall be and remain in full force and effect according to their respective terms.   This Amendment shall not be deemed (i) to be a waiver of, or consent to, or a modification or amendment   of, any other term or condition of the Credit Agreement or any other Loan Document other than as   expressly set forth herein, (ii) to prejudice any right or rights which the Administrative Agent or the   Lenders may now have or may have in the future under or in connection with the Credit Agreement or the   other Loan Documents or any of the instruments or agreements referred to therein, as the same may be   amended, restated, supplemented or modified from time to time other than as expressly set forth herein, or   (iii) to be a commitment or any other undertaking or expression of any willingness to engage in any further   discussion with the Company, any Loan Party or any other Person with respect to any other waiver,   amendment, modification or any other change to the Credit Agreement or the Loan Documents or any   rights or remedies arising in favor of the Lenders or the Administrative Agent, or any of them, under or   with respect to any such documents.  References in the Credit Agreement to “this Agreement” (and indirect   references such as “hereunder”, “hereby”, “herein”, “hereof” or other words of like import) and in any   Loan Document to the “Credit Agreement” shall be deemed to be references to the Credit Agreement as   modified hereby.          Section 6.  Counterparts.  This Amendment may be executed in any number of counterparts,   each of which shall be deemed an original as against any party whose signature appears thereon, and all of   which shall together constitute one and the same instrument.  Delivery of an executed counterpart of a   signature page of this Amendment by telecopy or other electronic means (including .pdf) shall be effective   as delivery of a manually executed counterpart of this Amendment.          Section 7.  Governing Law; Jurisdiction, Etc.  This Amendment shall in all respects be   governed by, and construed in accordance with, the laws of the State of New York, and shall be further   subject to the provisions of Sections 11.14 and 11.15 of the Credit Agreement.          Section 8.  Enforceability.  If any provision of this Amendment is held to be illegal, invalid   or unenforceable, (a) the legality, validity and enforceability of the remaining provisions of this Amendment   shall not be affected or impaired thereby and (b) the parties shall endeavor in good faith negotiations to   replace the illegal, invalid or unenforceable provisions with valid provisions the economic effect of which   comes as close as possible to that of the illegal, invalid or unenforceable provisions.  The invalidity of a  provision in a particular jurisdiction shall not invalidate or render unenforceable such provision in any other  jurisdiction.          Section 9.  Successors and Assigns.  This Amendment shall be binding upon and inure to the   benefit of each Borrower, the Facility Guarantor, the Administrative Agent and each Lender, and their   respective successors and assignees to the extent such assignees are permitted assignees as provided in   Section 11.06 of the Credit Agreement.                                         3    

 

      Section 10.   Costs and Expenses.  In accordance with Section 11.04(a) of the Credit  Agreement, the Company hereby agrees to pay on demand all reasonable and documented out-of-pocket  expenses of the Administrative Agent (including the reasonable and documented fees and expenses of  counsel for the Administrative Agent) in connection with the preparation, execution and delivery of this  Amendment and any other related documents.                [Remainder of Page Intentionally Left Blank; Signature Pages Follow]                                          4   

 

           IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be made, executed  and delivered by their duly authorized officers as of the day and year first above written.                                         BORROWERS:                                        DISCOVERY COMMUNICATIONS, LLC                                                                               By:   /s/ Fraser Woodford                                                        Name:  Fraser Woodford                                       Title:  Executive Vice President, Treasury and                                             Corporate Finance                                        DNI GLOBAL LLP                                                                               By:  Discovery (Barbados) Holdings 2, Delegated Member                                                                                 By:   /s/ Fraser Woodford                                                        Name:  Fraser Woodford                                          Title:  Director                                                                             By:  Discovery (Barbados) Holdings 3, Delegated Member                                                                                By:   /s/ Fraser Woodford                                                        Name:  Fraser Woodford                                          Title:  Director                                                                            DISCOVERY CORPORATE SERVICES LIMITED                                                                              By:   /s/ Carla Rasdall                                                          Name:  Carla Rasdall                                       Title:  Director                                        DISCOVERY LUXEMBOURG HOLDINGS 1                                       S.À.R.L.                                                                               By:   /s/ Carla Rasdall                                                          Name:  Carla Rasdall                                       Title:  class A manager                                        DISCOVERY COMMUNICATIONS BENELUX                                       B.V.                                                                              By:   /s/ Fraser Woodford                                                        Name:  Fraser Woodford                                       Title:  Attorney                                                                                                                                     Discovery Communications, LLC                    Amendment No. 2 to Amended and Restated Credit Agreement                                    Signature Page 

 

                                   DISCOVERY NETWORKS ASIA-PACIFIC PTE.                     LTD.                                          By:   /s/ Oleg Gribanov                                       Name:  Oleg Gribanov                     Title:  Director                      By:   /s/ Justin Blair Emmer                                   Name:  Justin Blair Emmer                     Title:  Director                                            DISCOVERY NETWORKS, S.L.                                          By:   /s/ Hester Wheeley                                       Name:  Hester Wheeley                     Title:  Director                                           DISCOVERY COMMUNICATIONS EUROPE                     LTD.                                           By:   /s/ Hester Wheeley                                       Name:  Hester Wheeley                     Title:  Director                                                                                                                                                         Discovery Communications, LLC  Amendment No. 2 to Amended and Restated Credit Agreement                  Signature Page 

 

                                   DISCOVERY, INC.                                                                By:   /s/ Fraser Woodford                                      Name:  Fraser Woodford                     Title:  Senior Vice President and Treasurer                                                 Discovery Communications, LLC  Amendment No. 2 to Amended and Restated Credit Agreement                  Signature Page 

 

                                   ADMINISTRATIVE AGENT:                      BANK OF AMERICA, N.A., as                     Administrative Agent                                           By:   /s/ Angela Larkin                                        Name: Angela Larkin                                      Title: Vice President                                                                              Discovery Communications, LLC  Amendment No. 2 to Amended and Restated Credit Agreement                  Signature Page 

 

                                   LENDERS:                      BANK OF AMERICA, N.A., as a Lender, a Swing                     Line Lender and an L/C Issuer                      By:   /s/ Laura L. Olson                                       Name: Laura L. Olson                                     Title: Vice President                                                        Discovery Communications, LLC   Amendment No. 2 to Amended and Restated Credit Agreement                  Signature Page 

 

                                   JPMORGAN CHASE BANK, N.A., as a Lender                     and an L/C Issuer                      By:   /s/ John Kowalczuk                                       Name: John Kowalczuk                     Title: Executive Director                                                         Discovery Communications, LLC  Amendment No. 2 to Amended and Restated Credit Agreement                  Signature Page 

 

                                   MIZUHO BANK LTD., as a Lender and an L/C                     Issuer                      By:   /s/ Tracy Rahn                                           Name: Tracy Rahn                     Title: Executive Director              Discovery Communications, LLC  Amendment No. 2 to Amended and Restated Credit Agreement                  Signature Page 

 

                                   CITIBANK, N.A., as a Lender, a Swing Line                     Lender and an L/C Issuer                      By:   /s/ Keith Lukasavich                                     Name: Keith Lukasavich                     Title: Managing Director & Vice President              Discovery Communications, LLC  Amendment No. 2 to Amended and Restated Credit Agreement                  Signature Page 

 

                                   ROYAL BANK OF CANADA, as a Lender                      By:   /s/ Alfonse Simone                                      Name: Alfonse Simone                     Title: Authorized Signatory              Discovery Communications, LLC  Amendment No. 2 to Amended and Restated Credit Agreement                  Signature Page 

 

                                   BNP PARIBAS, as a Lender and an L/C Issuer                      By:   /s/ Barbara Nash                                        Name: Barbara Nash                     Title: Managing Director                      By:   /s/ Melissa Dyki                                         Name: Melissa Dyki                     Title: Managing Director              Discovery Communications, LLC  Amendment No. 2 to Amended and Restated Credit Agreement                  Signature Page 

 

                                   BARCLAYS BANK PLC, as a Lender                      By:   /s/ Martin Corrigan                                      Name: Martin Corrigan                     Title: Vice President              Discovery Communications, LLC  Amendment No. 2 to Amended and Restated Credit Agreement                  Signature Page 

 

                                   THE BANK OF NOVA SCOTIA, as a Lender                      By:   /s/ Joseph Ward                                    Name: Joseph Ward                     Title: Managing Director                                    Discovery Communications, LLC  Amendment No. 2 to Amended and Restated Credit Agreement                  Signature Page 

 

                                   TRUIST BANK, successor by merger to SunTrust                     Bank, as Lender                      By:   /s/ Matthew J. Davis                                     Name: Matthew J. Davis                     Title: Senior Vice President              Discovery Communications, LLC  Amendment No. 2 to Amended and Restated Credit Agreement                  Signature Page 

 

                                   WELLS FARGO BANK, N.A., as a Lender                      By:   /s/ Nicholas Grocholski                                  Name: Nicholas Grocholski                     Title: Managing Director              Discovery Communications, LLC  Amendment No. 2 to Amended and Restated Credit Agreement                  Signature Page 

 

                                         MUFG BANK, LTD., as a Lender                         By:     /s/ Marlon Mathews                                                   Name:   Marlon Mathews                        Title:  Director               Discovery Communications, LLC  Amendment No. 2 to Amended and Restated Credit Agreement                      Signature Page 

 

                                   CREDIT SUISSE AG, CAYMAN ISLANDS                     BRANCH, as a Lender                      By:   /s/ Doreen Barr                                         Name: Doreen Barr                     Title: Authorized Signatory                      By:   /s/ Brady Bingham                                        Name: Brady Bingham                    Title: Authorized Signatory              Discovery Communications, LLC  Amendment No. 2 to Amended and Restated Credit Agreement                  Signature Page 

 

                                   GOLDMAN SACHS BANK USA, as a Lender                      By:   /s/ Jamie Minieri                                        Name: Jamie Minieri                     Title: Authorized Signatory              Discovery Communications, LLC  Amendment No. 2 to Amended and Restated Credit Agreement                  Signature Page 

 

                                   DEUTSCHE BANK AG NEW YORK                     BRANCH, as a Lender                      By:   /s/ Ming K Chu                                          Name: Ming K Chu                     Title: Director                      By:   /s/ Annie Chung                                          Name: Annie Chung                     Title: Director                                    Discovery Communications, LLC  Amendment No. 2 to Amended and Restated Credit Agreement                  Signature Page 

 

                                   HSBC BANK USA, N.A. as a Lender                                           By:   /s/ Robert J Levins                                      Name: Robert J Levins #21435                     Title: SVP Team Lead                                                                              Discovery Communications, LLC  Amendment No. 2 to Amended and Restated Credit Agreement                  Signature Page 

 

                                                              Annex A                See attached.                                                                

 

                                                                                                                                                       Annex A                                                    Published CUSIP Number 25470UAF8                   AMENDED AND RESTATED CREDIT AGREEMENT                              Dated as of February 4, 2016  (as amended through Amendment No.  1 to A&R2 to Amended and Restated Credit Agreement dated as                            of August 11April 30, 20172020)                                      among                       DISCOVERY COMMUNICATIONS, LLC,                                       and                              CERTAIN SUBSIDIARIES                                   as Borrowers,                       DISCOVERY COMMUNICATIONS, INC.,                               as the Facility Guarantor,                               the Lenders party hereto,                             BANK OF AMERICA, N.A.,                  as Administrative Agent, Swing Line Lender and an L/C Issuer,                          JPMORGAN CHASE BANK, N.A.,                                MIZUHO BANK, LTD.,                                  CITIBANK, N.A.                                       and                       CREDIT SUISSE SECURITIES (USA) LLC,                               as Co-Syndication Agents,                             RBC CAPITAL MARKETS                                       and                         BNP PARIBAS SECURITIES CORP.,                             as Co-Documentation Agents,                                       and            MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED,                          J.P. MORGAN SECURITIES LLC,                               MIZUHO BANK, LTD.,                        CITIGROUP GLOBAL MARKETS INC.,                       CREDIT SUISSE SECURITIES (USA) LLC,                             RBC CAPITAL MARKETS                                       and                         BNP PARIBAS SECURITIES CORP.,                       as Joint Lead Arrangers and Joint Bookrunners  *This is NOT an official copy of the Credit Agreement and is intended for information purposes only.*         

 

                              TABLE OF CONTENTS                                                                                                                      Page                                    TABLE OF CONTENTS          Section                                                             Page                                      ARTICLE I.                        DEFINITIONS AND ACCOUNTING TERMS  1.01   Defined Terms ................................................................................................................................ 1  1.02   Other Interpretive Provisions ........................................................................................................ 33  1.03   Accounting Terms ......................................................................................................................... 35   1.04  Rounding ....................................................................................................................................... 36   1.05  Exchange Rates; Currency Equivalents ........................................................................................ 36   1.06  Additional Alternative Currencies ............................................................................................ 3736   1.07  Change of Currency .................................................................................................................. 3837   1.08  Times of Day ............................................................................................................................ 3837   1.09  Letter of Credit Amounts .......................................................................................................... 3837   1.10  Amendment and Restatement ....................................................................................................... 38                                     ARTICLE II.                     THE COMMITMENTS AND CREDIT EXTENSIONS   2.01  Committed Loans ...................................................................................................................... 4039   2.02  Borrowings, Conversions and Continuations of Committed Loans.......................................... 4140   2.03  Letters of Credit ........................................................................................................................ 4342   2.04  Swing Line Loans ..................................................................................................................... 5350   2.05  Prepayments .............................................................................................................................. 5653   2.06  Termination or Reduction of Commitments ............................................................................. 5854   2.07  Repayment of Loans ................................................................................................................. 5955   2.08  Interest ...................................................................................................................................... 5955   2.09  Fees ........................................................................................................................................... 6056   2.10  Computation of Interest and Fees ............................................................................................. 6157   2.11  Evidence of Debt....................................................................................................................... 6157   2.12  Payments Generally; Administrative Agent’s Clawback .......................................................... 6157   2.13  Sharing of Payments by Lenders .............................................................................................. 6359   2.14  Designated Borrowers ............................................................................................................... 6460   2.15  Increase in Commitments ......................................................................................................... 6762   2.16  Cash Collateral .......................................................................................................................... 6863   2.17  Defaulting Lenders.................................................................................................................... 7064   2.18  Extension of Maturity Date ....................................................................................................... 7267                                    ARTICLE III.                      TAXES, YIELD PROTECTION AND ILLEGALITY   3.01  Taxes ......................................................................................................................................... 7468   3.02  Illegality .................................................................................................................................... 8174   3.03  Inability to Determine Rates ..................................................................................................... 8275   3.04  Increased Costs; Reserves on Eurocurrency Rate Loans .......................................................... 8376   3.05  Compensation for Losses .......................................................................................................... 8578   3.06  Mitigation Obligations; Replacement of Lenders ..................................................................... 8678   3.07  Survival ..................................................................................................................................... 8779                                         -i-           

 

                             TABLE OF CONTENTS                                    (continued)                                                                           Page                                      ARTICLE IV.                  CONDITIONS PRECEDENT TO CREDIT EXTENSIONS  4.01  Conditions of Amendment and Restatement ............................................................................ 8779  4.02  Conditions to all Credit Extensions .......................................................................................... 9081                                    ARTICLE V.                        REPRESENTATIONS AND WARRANTIES  5.01  Existence, Qualification and Power .......................................................................................... 9182  5.02  Authorization; No Contravention ............................................................................................. 9183  5.03  Governmental Authorization; Other Consents .......................................................................... 9183  5.04  Binding Effect ........................................................................................................................... 9283  5.05  Financial Statements; No Material Adverse Effect ................................................................... 9283  5.06  Litigation ................................................................................................................................... 9284  5.07  No Default ................................................................................................................................. 9384  5.08  Ownership of Property; Liens ................................................................................................... 9384  5.09  Environmental Compliance ...................................................................................................... 9384  5.10  Insurance ................................................................................................................................... 9384  5.11  Taxes ......................................................................................................................................... 9384  5.12  ERISA Compliance ................................................................................................................... 9384  5.13  Subsidiaries; Joint Ventures ...................................................................................................... 9485  5.14  Margin Regulations; Investment Company Act ........................................................................ 9585  5.15  Disclosure ................................................................................................................................. 9586  5.16  Compliance with Laws ............................................................................................................. 9586  5.17  Taxpayer Identification Number; Other Identifying Information ............................................. 9586  5.18  Intellectual Property; Licenses, Etc .......................................................................................... 9686  5.19  Sanctions Restrictions ............................................................................................................... 9686  5.20  Representations as to Foreign Obligors .................................................................................... 9687  5.21  Anti-Corruption Laws ............................................................................................................... 9787  5.22  EEAAffected Financial Institutions .......................................................................................... 9788  5.23  Beneficial Ownership Certification .............................................................................................. 88  5.24  Covered Entities ............................................................................................................................ 88                                   ARTICLE VI.                             AFFIRMATIVE COVENANTS  6.01  Financial Statements ................................................................................................................. 9888  6.02  Certificates; Other Information ................................................................................................. 9889  6.03  Notices .................................................................................................................................... 10191  6.04  Payment of Obligations........................................................................................................... 10191  6.05  Preservation of Existence, Etc ................................................................................................ 10191  6.06  Maintenance of Properties ...................................................................................................... 10292  6.07  Maintenance of Insurance ....................................................................................................... 10292  6.08  Compliance with Laws ........................................................................................................... 10292  6.09  Books and Records ................................................................................................................. 10292  6.10  Inspection Rights .................................................................................................................... 10292  6.11  Use of Proceeds ...................................................................................................................... 10392                                       -ii-        ii                                                                                

 

                             TABLE OF CONTENTS                                    (continued)                                                                           Page     6.12  Approvals and Authorizations ................................................................................................ 10393  6.13  Sanctions ................................................................................................................................. 10393  6.14  Anti-Corruption Laws ............................................................................................................. 10393  6.15  Joinder of Scripps to the Credit Agreement ............................................................................ 10393  6.16  Additional Guarantors ............................................................................................................. 10393                                   ARTICLE VII.                              NEGATIVE COVENANTS  7.01  Liens........................................................................................................................................ 10393  7.02  Investments ............................................................................................................................. 10595  7.03  Indebtedness ............................................................................................................................ 10696  7.04  Fundamental Changes ............................................................................................................. 10798  7.05  Dispositions ............................................................................................................................ 10898  7.06  Restricted Payments ................................................................................................................ 10899  7.07  Change in Nature of Business ............................................................................................... 109100  7.08  Transactions with Affiliates .................................................................................................. 109100  7.09  Burdensome Agreements ...................................................................................................... 110101  7.10  Use of Proceeds .................................................................................................................... 111102  7.11  Financial Covenants .............................................................................................................. 112102  7.12  Sanctions Restrictions ........................................................................................................... 112103  7.13  Anti-Corruption Laws ........................................................................................................... 112103                                   ARTICLE VIII.                        EVENTS OF DEFAULT AND REMEDIES  8.01  Events of Default .................................................................................................................. 112103  8.02  Remedies Upon Event of Default ......................................................................................... 115105  8.03  Application of Funds............................................................................................................. 115106                                   ARTICLE IX.                             ADMINISTRATIVE AGENT  9.01  Appointment and Authority .................................................................................................. 116106  9.02  Rights as a Lender ................................................................................................................. 117107  9.03  Exculpatory Provisions ......................................................................................................... 117107  9.04  Reliance by Administrative Agent ........................................................................................ 118108  9.05  Delegation of Duties ............................................................................................................. 118108  9.06  Resignation of Administrative Agent ................................................................................... 118108  9.07  Non-Reliance on Administrative Agent and Other Lenders ................................................. 120110  9.08  No Other Duties, Etc ............................................................................................................. 120110  9.09  Administrative Agent May File Proofs of Claim .................................................................. 120110  9.10  Collateral Matters.................................................................................................................. 121110  9.11  Certain ERISA Matters ............................................................................................................... 112                                    ARTICLE X.                             CONTINUING GUARANTY  10.01 Guaranty ................................................................................................................................ 122113  10.02 Rights of Lenders .................................................................................................................. 122113                                       -iii-       iii                                                                                

 

                             TABLE OF CONTENTS                                    (continued)                                                                           Page     10.03 Certain Waivers .................................................................................................................... 123114  10.04 Obligations Independent ..................................................................................... 123; Limitation on        Guarantees .................................................................................................................................. 114  10.05 Subrogation ........................................................................................................................... 123114  10.06 Termination; Reinstatement .................................................................................................. 123115  10.07 Subordination ........................................................................................................................ 124115  10.08 Stay of Acceleration .............................................................................................................. 124115  10.09 Condition of Borrowers ........................................................................................................ 124115                                   ARTICLE XI.                                 MISCELLANEOUS  11.01 Amendments, Etc .................................................................................................................. 124115  11.02 Notices; Effectiveness; Electronic Communication ............................................................. 127117  11.03 No Waiver; Cumulative Remedies; Enforcement ................................................................. 129119  11.04 Expenses; Indemnity; Damage Waiver ................................................................................. 130120  11.05 Payments Set Aside............................................................................................................... 132122  11.06 Successors and Assigns......................................................................................................... 132122  11.07 Treatment of Certain Information; Confidentiality ............................................................... 138127  11.08 Right of Setoff ...................................................................................................................... 139128  11.09 Interest Rate Limitation ........................................................................................................ 140128  11.10 Counterparts; Integration; Effectiveness ............................................................................... 140129  11.11 Survival of Representations and Warranties ......................................................................... 140129  11.12 Severability ........................................................................................................................... 141129  11.13 Replacement of Lenders ....................................................................................................... 141129  11.14 Governing Law; Jurisdiction; Etc ......................................................................................... 142130  11.15 Waiver of Jury Trial .............................................................................................................. 143131  11.16 No Advisory or Fiduciary Responsibility ............................................................................. 143132  11.17 Electronic Execution of Assignments and Certain Other Documents .................................. 144132  11.18 USA PATRIOT Act .............................................................................................................. 144132  11.19 Judgment Currency ............................................................................................................... 145133  11.20 Acknowledgement and Consent to Bail-In of EEAAffected Financial Institutions ............. 145133  11.21 ENTIRE AGREEMENT ....................................................................................................... 145133   SIGNATURES .......................................................................................................................................... S-1  11.22 Acknowledgement Regarding Any Supported QFCs ................................................................. 134                                         -iv-        iv                                                                                 

 

   SCHEDULES          1.01  Existing Letters of Credit        2.01  Commitments and Applicable Percentages        2.01A Closing Date Tranche 1 Borrowers        2.01B Closing Date Tranche 2 Borrowers        5.12  Pension Plans        5.13  Subsidiaries; Joint Ventures        5.17  Identification Numbers for Designated Borrowers that are Foreign Subsidiaries        7.01  Existing Liens        7.03  Existing Indebtedness        11.02 Administrative Agent’s Office; Certain Addresses for Notices     EXHIBITS           Form of         A     Committed Loan Notice        B     Swing Line Loan Notice        C-1   Amended and Restated Note (Tranche 1 Loans)        C-2   Amended and Restated Note (Tranche 2 Loans)        D     Compliance Certificate        E-1   Assignment and Assumption        E-2   Administrative Questionnaire        G-1   Opinion of counsel to the Loan Parties        G-2  Opinion of special U.K. counsel to the Loan Parties       G-3   Opinion of special Singapore counsel to the Administrative Agent       G-4   Opinion of special Luxembourg counsel to the Loan Parties       G-5   Opinion of special Luxembourg counsel to the Administrative Agent       G-6   Opinion of special Spain counsel to the Loan Parties       H     Designated Borrower Request and Assumption Agreement       I     Designated Borrower Notice       K     U.S. Tax Compliance Certificates                                           -v-                                                              

 

                     AMENDED AND RESTATED CREDIT AGREEMENT          This AMENDED AND RESTATED CREDIT AGREEMENT (“Agreement”) is entered into as of   February 4, 2016, among DISCOVERY COMMUNICATIONS, LLC,  a Delaware limited liability   company (the “Company”), certain wholly-owned Subsidiaries of the Company party hereto pursuant to   Section 2.14 (each a “Designated Borrower” and, together with the Company, the “Borrowers” and, each a   “Borrower”), DISCOVERY COMMUNICATIONS, INC., a Delaware corporation (the “Facility   Guarantor”), each lender from time to time party hereto (collectively, the “Lenders” and individually, a   “Lender”), BANK OF AMERICA, N.A., as Administrative Agent, Swing Line Lender and an L/C Issuer.          The Company, the Facility Guarantor, the lenders party thereto (the “Existing Lenders”) and Bank   of America, N.A., as administrative agent for such lenders, swingline lender, and letter of credit issuer,   entered into that certain Credit Agreement dated as of June 20, 2014 (as amended, restated, amended and   restated, supplemented or otherwise modified prior to the date hereof, the “Existing Credit Agreement”),   pursuant to which the Existing Lenders have made available to the Borrowers a senior revolving credit   facility, with two separate tranches and, under one such tranche, a letter of credit subfacility and a swing   loan subfacility.          The Company has requested that the Lenders agree to an amendment and restatement of the  Existing Credit Agreement in the form of this Agreement to provide a senior revolving credit facility, with  two separate tranches and, under one such tranche, a letter of credit subfacility and a swing loan subfacility,  and the Lenders are willing to do so on the terms and subject to the conditions set forth herein, including,  without limitation, the Guaranty of the Guarantors.          In consideration of the mutual covenants and agreements herein contained, the parties hereto  covenant and agree as follows:                                      ARTICLE I.                       DEFINITIONS AND ACCOUNTING TERMS          1.01  Defined Terms.  As used in this Agreement, the following terms shall have the meanings   set forth below:          “Act” has the meaning specified in Section 11.18.          “Additional Commitment Lender” has the meaning specified in Section 2.18(d).          “Administrative Agent” means Bank of America in its capacity as administrative agent under any   of the Loan Documents, or any successor administrative agent.          “Administrative Agent’s Office” means, with respect to any currency, the Administrative Agent’s   address and, as appropriate, account as set forth on Schedule 11.02 with respect to such currency, or such   other address or account with respect to such currency as the Administrative Agent may from time to time   notify to the Company and the Lenders.          “Administrative Questionnaire” means an Administrative Questionnaire in substantially the form   of Exhibit E-2 or any other form approved by the Administrative Agent.          “Affected Financial Institution” means (a) any EEA Financial Institution or (b) any UK Financial   Institution.                                                1 

 

         “Affiliate” means, with respect to any Person, another Person that directly, or indirectly through  one or more intermediaries, Controls or is Controlled by or is under common Control with the Person  specified.           “Aggregate Commitments” means the Commitments of all the Lenders.  As of the Amendment No.  1 Effective Date, the Aggregate Commitments are $2,500,000,000.         “Aggregate Tranche 1 Commitments” means the Tranche 1 Commitments of all the Tranche 1  Lenders.  As of the Amendment No. 1 Effective Date, the Aggregate Tranche 1 Commitments are  $1,735,555,555.55.         “Aggregate Tranche 2 Commitments” means the Tranche 2 Commitments of all the Tranche 2  Lenders.  As of the Amendment No. 1 Effective Date, the Aggregate Tranche 2 Commitments are  $764,444,444.45.         “Agreement” means this Amended and Restated Credit Agreement.         “Alternative Currency” means each of Euro, Sterling, Yen and each other currency (other than  Dollars) that is approved in accordance with Section 1.06.         “Alternative Currency Equivalent” means, at any time, with respect to any amount denominated in  Dollars, the equivalent amount thereof in the applicable Alternative Currency as determined by the  Administrative Agent or an L/C Issuer, as the case may be, at such time on the basis of the Spot Rate  (determined in respect of the most recent Revaluation Date) for the purchase of such Alternative Currency  with Dollars.         “Amendment No. 1” means that certain Amendment No. 1 to Amended and Restated Credit  Agreement, dated as of August 11, 2017, among the Borrowers, the Facility Guarantor, the Lenders  signatory thereto, and the Administrative Agent.          “Amendment No. 1 Effective Date” means August 11, 2017.         “Amendment No. 2 Effective Date” means April 30, 2020.         “Applicable Percentage” means (i) with respect to any Tranche 1 Lender at any time, the percentage  (carried out to the ninth decimal place) of the Aggregate Tranche 1 Commitments represented by such  Tranche 1 Lender’s Tranche 1 Commitment at such time, and (ii) with respect to any Tranche 2 Lender at  any time, the percentage (carried out to the ninth decimal place) of the Aggregate Tranche 2 Commitments  represented by such Tranche 2 Lender’s Tranche 2 Commitment at such time, subject in each case to  adjustment as provided in Section 2.17.  If the commitment of each Tranche 1 Lender to make Tranche 1  Loans, the obligation of the L/C Issuers to make L/C Credit Extensions and the obligation of the Swing  Line Lender to make Swing Line Loans have been terminated pursuant to Section 8.02 or if the Aggregate  Tranche 1 Commitments have expired, then the Applicable Percentage of each Tranche 1 Lender shall be  determined based on the Applicable Percentage of such Tranche 1 Lender most recently in effect, giving  effect to any subsequent assignments; and if the commitment of each Tranche 2 Lender to make Tranche 2  Loans has been terminated pursuant to Section 8.02 or if the Aggregate Tranche 2 Commitments have  expired, then the Applicable Percentage of each Tranche 2 Lender shall be determined based on the  Applicable Percentage of such Tranche 2 Lender most recently in effect, giving effect to any subsequent  assignments.  The initial Applicable Percentage of each Tranche 1 Lender is set forth opposite the name of  such Tranche 1 Lender on Schedule 2.01 or in the Assignment and Assumption pursuant to which such  Tranche 1 Lender becomes a party hereto, as applicable, and the initial Applicable Percentage of each  Tranche 2 Lender is set forth opposite the name of such Tranche 2 Lender on Schedule 2.01 or in the                                            2 

 

    Assignment and Assumption pursuant to which such Tranche 2 Lender becomes a party hereto, as  applicable.          “Applicable Rate” means, from time to time, the following percentages per annum, based upon the   Debt Rating as set forth below:                                      Applicable Rate                                                  Applicable     Applicable                                                 Margin for    Margin for Base                                                Eurocurrency   Rate Loans and                                                 Rate Loans;     Swing Line                                                Letter of Credit   Loans                                                Fee and Swing  denominated in                                                 Line Loans        Dollars       Pricing    Debt Ratings                  denominated in        Level    S&P/Moody’s      Facility Fee     Euros         1       A-/A3 or better   10.0 bps        77.5 bps         0.0 bps         2        BBB+/Baa1        12.5 bps        87.5 bps        0.0 bps         3         BBB/Baa2        15.0 bps       110.0 bps       10.0 bps         4        BBB-/Baa3        20.0 bps       130.0 bps       30.0 bps         5      BB+/Ba1 or worse   30.0 bps     145.0195.0 bps   45.095.0 bps            “Debt Rating” means, as of any date of determination, the rating as determined by either S&P or   Moody’s (collectively, the “Debt Ratings”) of the Company’s non-credit-enhanced, senior unsecured long-  term debt; provided that (a) if the respective Debt Ratings issued by the foregoing rating agencies differ by   one level, then the Pricing Level for the higher of such Debt Ratings shall apply (with the Debt Rating for   Pricing Level 1 being the highest and the Debt Rating for Pricing Level 5 being the lowest); (b) if there is   a split in Debt Ratings of more than one level, then the Pricing Level that is one level lower than the Pricing   Level of the higher Debt Rating shall apply; (c) if the Company has only one Debt Rating, the Pricing Level   that is one level lower than that of such Debt Rating shall apply; and (d) if the Company does not have any   Debt Rating, Pricing Level 5 shall apply.    Initially, the Applicable Rate shall be determined based upon the Debt Rating specified in the certificate   delivered pursuant to Section 4.01(a)(vi).  Thereafter, each change in the Applicable Rate resulting from a   publicly announced change in the Debt Rating shall be effective during the period commencing on the date   of the public announcement thereof and ending on the date immediately preceding the effective date of the   next such change.            “Applicable Time” means, with respect to any borrowings and payments in any Alternative   Currency, the local time in the place of settlement for such Alternative Currency as may be determined by   the Administrative Agent or an L/C Issuer, as the case may be, to be necessary for timely settlement on the  relevant date in accordance with normal banking procedures in the place of payment.          “Applicable Tranche 1 Percentage” means with respect to any Tranche 1 Lender at any time, such   Tranche 1 Lender’s Applicable Percentage at such time.          “Applicable Tranche 2 Percentage” means with respect to any Tranche 2 Lender at any time, such   Tranche 2 Lender’s Applicable Percentage at such time.          “Applicant Borrower” has the meaning specified in Section 2.14.                                               3 

 

           “Appropriate Lender” means, at any time, (a) with respect to any of the Tranche 1 Loans, a Tranche   1 Lender, (b) with respect to any of the Tranche 2 Loans, a Tranche 2 Lender, (c) with respect to the Letters   of Credit, if any Letters of Credit have been issued or are outstanding hereunder, the Tranche 1 Lenders   and (d) (i) with respect to the Swing Line Dollar Sublimit, the Swing Line Dollar Lender, (ii) with respect   to the Swing Line Euro Sublimit, the Swing Line Euro Lender and (iii) if any Swing Line Loans are   outstanding pursuant hereto, the Tranche 1 Lenders.          “Approved Fund” means any Fund that is administered or managed by (a) a Lender, (b) an Affiliate   of a Lender or (c) an entity or an Affiliate of an entity that administers or manages a Lender.            “Arranger” means each of BofA Securities, Inc., as successor to Merrill Lynch, Pierce, Fenner &   Smith Incorporated, J.P. Morgan Securities LLC, Mizuho Bank, Ltd., Citigroup Global Markets Inc., Credit   Suisse Securities (USA) LLC, RBC Capital Markets1 and BNP Paribas Securities Corp. in its capacity as a  joint lead arranger and a joint bookrunner.          “Assignment and Assumption” means an assignment and assumption entered into by a Lender and   an Eligible Assignee (with the consent of any party whose consent is required by Section 11.06(b)), and   accepted by the Administrative Agent, in substantially the form of Exhibit E-1 or any other form (including   electronic documentation generated by use of an electronic platform) approved by the Administrative   Agent.            “Attributable Indebtedness” means, on any date, (a) in respect of any Capital Lease of any Person,   the capitalized amount thereof that would appear on a balance sheet of such Person prepared as of such date   in accordance with GAAP, and (b) in respect of any Synthetic Lease Obligation, the capitalized amount of   the remaining lease payments under the relevant lease that would appear on a balance sheet of such Person   prepared as of such date in accordance with GAAP if such lease were accounted for as a Capital Lease.          “Audited Financial Statements” means the audited consolidated balance sheet of the Facility   Guarantor and its Subsidiaries for the fiscal year ended December 31, 2014, and the related consolidated   statements of income or operations, shareholders’ equity and cash flows for such fiscal year of the Facility   Guarantor and its Subsidiaries, including the notes thereto.          “Availability Period” means the period from and including the Closing Date to the earliest of (a)   the Maturity Date, (b) the date of termination of the Aggregate Tranche 1 Commitments or Aggregate   Tranche 2 Commitments, as the case may be, pursuant to Section 2.06, and (c) the date of termination of   the commitment of each Lender to make Loans and of the obligation of the L/C Issuers to make L/C Credit   Extensions pursuant to Section 8.02.          “Bail-In Action” means the exercise of any Write-Down and Conversion Powers by the applicable   EEA Resolution Authority in respect of any liability of an EEAAffected Financial Institution.          “Bail-In Legislation” means, (a) with respect to any EEA Member Country implementing Article   55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the   implementing law, rule, regulation or requirement for such EEA Member Country from time to time which   is described in the EU Bail-In Legislation Schedule., and (b) with respect to the United Kingdom, Part I of   the United Kingdom Banking Act 2009 (as amended from time to time) and any other law, regulation or                               1 RBC Capital Markets is a brand name for the capital markets businesses of Royal Bank of Canada and its   Affiliates.                                                 4 

 

   rule applicable in the United Kingdom relating to the resolution of unsound or failing banks, investment  firms or other financial institutions or their affiliates (other than through liquidation, administration or other  insolvency proceedings).         “Bank of America” means Bank of America, N.A. and its successors.          “Banking Services” means each and any of the following bank services provided to the Company  or any of its Subsidiaries: (a) credit cards for commercial customers (including, without limitation,  commercial credit cards and purchasing cards), (b) stored value cards and (c) treasury management services  (including, without limitation, controlled disbursement, automated clearinghouse transactions, return items,  overdrafts and interstate depository network services).         “Base Rate” means for any day a fluctuating rate per annum equal to the highest of (a) the Federal  Funds Rate plus 1/2 of 1%, (b) the rate of interest in effect for such day as publicly announced from time  to time by Bank of America as its “prime rate,” and (c) the Eurocurrency Rate plus 1.00%.  The “prime  rate” is a rate set by Bank of America based upon various factors including Bank of America’s costs and  desired return, general economic conditions and other factors, and is used as a reference point for pricing  some loans, which may be priced at, above, or below such announced rate.  Any change in such prime rate  announced by Bank of America shall take effect at the opening of business on the day specified in the public  announcement of such change.  If the Base Rate is being used as an alternate rate of interest pursuant to  Section 3.03 hereof, then the Base Rate shall be the greater of clauses (a) and (b) above and shall be  determined without reference to clause (c) above.  Notwithstanding the foregoing, in no event shall the  Base Rate be less than 0.50%.         “Base Rate Committed Loan” means a Committed Loan that is a Base Rate Loan.         “Base Rate Loan” means a Loan that bears interest based on the Base Rate.  All Base Rate Loans  shall be denominated in Dollars.         “Beneficial Ownership Certification” means a certification regarding beneficial ownership required  by the Beneficial Ownership Regulation.         “Beneficial Ownership Regulation” means 31 C.F.R. § 1010.230.         “Benefit Plan” means any of (a) an “employee benefit plan” (as defined in ERISA) that is subject  to Title I of ERISA, (b) a “plan” as defined in and subject to Section 4975 of the Code or (c) any Person  whose assets include (for purposes of ERISA Section 3(42) or otherwise for purposes of Title I of ERISA  or Section 4975 of the Code) the assets of any such “employee benefit plan” or “plan”.         “Bonds” means the notes issued pursuant to the Indenture dated as of August 19, 2009, among the  Company, the Facility Guarantor and U.S. Bank National Association.         “Borrower” and “Borrowers” each has the meaning specified in the introductory paragraph hereto.         “Borrower DTTP Filing” means an HM Revenue & Customs' Form DTTP2 duly completed and  filed by a Designated Borrower that is resident in the United Kingdom for tax purposes with respect to a  Lender within 30 days of the date on which such Lender has notified its scheme reference number and its  jurisdiction of tax residence in accordance with Section 3.01(c)(iii) to the Designated Borrower.                                              5 

 

         “Borrowing” means a Committed Borrowing or a Swing Line Borrowing, as the context may  require.         “Bridge Facility” means the $9,600,000,000 senior unsecured bridge credit facility contemplated  by that certain commitment letter, dated July 30, 2017, among Goldman Sachs Bank USA, Goldman Sachs  Lending Partners LLC, the Facility Guarantor and the Company.         “Business Day” means any day other than a Saturday, Sunday or other day on which commercial  banks are authorized to close under the Laws of, or are in fact closed in, the state where the Administrative  Agent’s Office with respect to Obligations denominated in Dollars is located and:               (a)   if such day relates to any interest rate settings as to a Eurocurrency Rate Loan       denominated in Dollars, any fundings, disbursements, settlements and payments in Dollars in       respect of any such Eurocurrency Rate Loan, or any other dealings in Dollars to be carried out       pursuant to this Agreement in respect of any such Eurocurrency Rate Loan, means any such day       that is also a London Banking Day;               (b)   if such day relates to any interest rate settings as to a Eurocurrency Rate Loan       denominated in Euro or a Swing Line Loan denominated in Euro, any fundings, disbursements,       settlements and payments in Euro in respect of any such Eurocurrency Rate Loan or Swing Line       Loan denominated in Euro, or any other dealings in Euro to be carried out pursuant to this       Agreement in respect of any such Eurocurrency Rate Loan or Swing Line Loan denominated in       Euro, means a TARGET Day;               (c)   if such day relates to any interest rate settings as to a Eurocurrency Rate Loan       denominated in a currency other than Dollars or Euro, means any such day on which dealings in       deposits in the relevant currency are conducted by and between banks in the London or other       applicable offshore interbank market for such currency; and              (d)   if such day relates to any fundings, disbursements, settlements and payments in a       currency other than Dollars or Euro in respect of a Eurocurrency Rate Loan denominated in a       currency other than Dollars or Euro, or any other dealings in any currency other than Dollars or       Euro to be carried out pursuant to this Agreement in respect of any such Eurocurrency Rate Loan       (other than any interest rate settings), means any such day on which banks are open for foreign       exchange business in the principal financial center of the country of such currency.           “Capital Lease” means, subject to Section 1.03(a), an obligation that is required to be classified as,  and expenses in respect of which are recognized as for, a capitalized lease for income statement reporting  purposes in accordance with GAAP.         “Cash Collateralize” means to pledge and deposit with or deliver to the Administrative Agent, for  the benefit of one or more of the L/C Issuers or the Lenders, as collateral for L/C Obligations, or obligations  of the Lenders to fund participations in respect of, L/C Obligations, cash or deposit account balances or, if  the Administrative Agent and the applicable L/C Issuer shall agree in their sole discretion, other credit  support, in each case pursuant to documentation in form and substance satisfactory to the Administrative  Agent and such L/C Issuer. “Cash Collateral” shall have a meaning correlative to the foregoing and shall  include the proceeds of such cash collateral and other credit support.        “Change in Law” means the occurrence, after the date of this Agreement, of any of the following:  (a) the adoption or taking effect of any law, rule, regulation or treaty, (b) any change in any law, rule,                                            6 

 

   regulation or treaty or in the administration, interpretation, implementation or application thereof by any  Governmental Authority or (c) the making or issuance of any request, rule, guideline or directive  (whether or not having the force of law) by any Governmental Authority; provided that notwithstanding  anything herein to the contrary, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and  all requests, rules, guidelines or directives thereunder or issued in connection therewith and (y) all  requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel  Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign  regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a “Change in  Law”, regardless of the date enacted, adopted or issued.               “Change of Control” means an event by which both:               (a)   (i)   any “person” or “group” (as such terms are used in Sections 13(d) and       14(d) of the Securities Exchange Act of 1934, but excluding any employee benefit plan of such       person or its subsidiaries, and any person or entity acting in its capacity as trustee, agent or other       fiduciary or administrator of any such plan) other than any Significant Shareholder or any       combination of Significant Shareholders becomes the “beneficial owner” (as defined in Rules 13d-      3 and 13d-5 under the Securities Exchange Act of 1934), directly or indirectly, of more than 50%       of the equity securities of the Facility Guarantor or the Company entitled to vote for members of       the board of directors or equivalent governing body of such Loan Party, measured by voting power       rather than number of shares;               (ii)  the first day on which a majority of the members of the board of directors or other       equivalent governing body of the Facility Guarantor cease to be composed of individuals (i) who       were members of that board or equivalent governing body on August 19, 2009, (ii) whose election       or nomination to that board or equivalent governing body was approved by individuals referred to       in clause (i) above constituting at the time of such election or nomination at least a majority of that        board or equivalent governing body or (iii) whose election or nomination to that board or other        equivalent governing body was approved by individuals referred to in clauses (i) and (ii) above        constituting at the time of such election or nomination at least a majority of that board or equivalent        governing body (in each case, such approval either by a specific vote or by approval of the Facility        Guarantor’s proxy statement in which such member was named as a nominee for election as a        director);              (iii)  the direct or indirect sale, lease, transfer, conveyance or other disposition (other       than by way of merger or consolidation), in one or a series of related transactions, of all or       substantially all of the assets of the Facility Guarantor and its Subsidiaries, or the Company and its       Subsidiaries, taken as a whole, to any "person" (as that term is used in Section 13(d) of the Securities       Exchange Act of 1934) other than to the Facility Guarantor or one of its Subsidiaries;              (iv)  the consummation of a so-called “going private/Rule 13e-3 Transaction” that       results in any of the effects described in paragraph (a)(3)(ii) of Rule 13e-3 under the Securities       Exchange Act of 1934 (or any successor provision) with respect to each class of the Facility       Guarantor’s common stock, following which any Significant Shareholder or any combination of       Significant Shareholders “beneficially own” (as defined in Rules 13d-3 and 13d-5 under the       Securities Exchange Act of 1934), directly or indirectly, more than 50% of the outstanding equity       securities of the Facility Guarantor entitled to vote for members of the board of directors or       equivalent governing body of the Facility Guarantor measured by voting power rather than number       of shares; or                                             7 

 

                (v)     the adoption of a plan relating to the liquidation, dissolution or winding up of the        Facility Guarantor; and               (b)   within 60 days after the occurrence of any event described in clauses (a)(i) to (v),        the Loan Parties shall not have procured and delivered to the Administrative Agent a rating of the        Company’s non-credit enhanced, senior long-term debt from both of S&P and Moody’s of “BBB-       ” or better by S&P (or its equivalent under any successor rating category of S&P) and a rating of        “Baa3” or better by Moody's (or its equivalent under any successor rating category of Moody's).              Notwithstanding anything to the contrary in the foregoing, the Scripps Transactions shall        not constitute or give rise to a Change of Control.         “Closing Date” means the first date all the conditions precedent in Section 4.01 are satisfied or   waived in accordance with Section 11.01.          “Code” means the Internal Revenue Code of 1986.          “Commitment” means, as to each Lender, the sum of its Tranche 1 Commitment and its Tranche 2   Commitment.           “Committed Borrowing” means a Tranche 1 Borrowing or a Tranche 2 Borrowing.          “Committed Loan” means a Tranche 1 Loan or a Tranche 2 Loan.          “Committed Loan Notice” means a notice of (a) a Committed Borrowing, (b) a conversion of   Committed Loans from one Type to the other, or (c) a continuation of Eurocurrency Rate Loans, pursuant  to Section 2.02(a), which shall be substantially in the form of Exhibit A or such other form as may be   approved by the Administrative Agent (including any form on an electronic platform or electronic   transmission system as shall be approved by the Administrative Agent), appropriately completed and signed   by a Responsible Officer of the Company.          “Company” has the meaning specified in the introductory paragraph hereto and any successor in   interest thereto.          “Compliance Certificate” means a certificate substantially in the form of Exhibit D.          “Connection Income Taxes” means Other Connection Taxes that are imposed on or measured by   net income (however denominated) or that are franchise Taxes or branch profits Taxes.           “consolidated” or “consolidated basis” means, with respect to the Company and its Subsidiaries,   the consolidation of the accounts of each of the Subsidiaries with those of the Company in accordance with   GAAP; provided that even if, following the Scripps Acquisition, Scripps and the Scripps Acquired Business   (or any portion thereof) are Subsidiaries of the Facility Guarantor but not Subsidiaries of the Company, the   accounts of each of Scripps and the Scripps Acquired Business (or such portion thereof) shall be treated as   if they were consolidated into the accounts of the Company in accordance with GAAP.           “Consolidated EBITDA” means, for any Measurement Period, for the Company and its   Subsidiaries on a consolidated basis, an amount equal to Consolidated Net Income for such period plus (a)   the following to the extent deducted in calculating such Consolidated Net Income: (i) Consolidated Interest   Charges for such period, (ii) the provision for Federal, state, local and foreign income taxes payable by the   Company and its Subsidiaries for such period, (iii) depreciation and amortization expense (other than Film                                               8 

 

    Rights Amortization, but including amortization expense from launch and representation rights), (iv)  expenses related to long term incentive plans of the Company and its Subsidiaries reducing such  Consolidated Net Income which do not represent a cash item in such period, (v) amounts attributable to a  minority interest in any Subsidiary of the Company held by a Person (other than the Company or another  Subsidiary of the Company) which do not represent a cash item in such period, (vi) amounts attributable to  losses in respect of equity interests in unconsolidated Persons which do not represent a cash item in such  period, and (vii) other non-recurring expenses or losses of the Company and its Subsidiaries reducing such  Consolidated Net Income which do not represent a cash item in such period or any future period and minus  (b) the following to the extent included in calculating such Consolidated Net Income: (i) Federal, state,  local and foreign income tax credits of the Company and its Subsidiaries for such period and (ii) non- recurring gains of the Company and its Subsidiaries increasing such Consolidated Net Income which do  not represent a cash item in such period or any future period.            “Consolidated Funded Indebtedness” means, as of any date of determination, for the Company and   its Subsidiaries on a consolidated basis, without duplication, the sum of (a) the outstanding principal amount   of all obligations, whether current or long-term, for borrowed money (including Obligations hereunder) and   all obligations evidenced by bonds, debentures, notes, loan agreements or other similar instruments (net of   cash or cash equivalents held on the balance sheet of the Facility Guarantor and its Subsidiaries in respect   of Pre-Funded Acquisition Debt), (b) all purchase money Indebtedness (except as also excluded from clause   (d) below), (c) all direct obligations arising under letters of credit (including standby and commercial),   bankers’ acceptances, bank guaranties, surety bonds and similar instruments (other than (i) commercial   letters of credit in an aggregate face amount of not more than $10,000,000 and (ii) surety bonds in an   aggregate face amount of not more than $10,000,000), (d) all obligations in respect of the deferred purchase   price of property or services (other than trade accounts payable in the ordinary course of business and, to   the extent applicable, net of cash or cash equivalents held on the balance sheet of the Facility Guarantor   and its Subsidiaries in respect of Pre-Funded Acquisition Debt), (e) Attributable Indebtedness in respect of   Capital Leases and Synthetic Lease Obligations, (f) without duplication, all Guarantees with respect to   outstanding Indebtedness of the types specified in clauses (a) through (e) above of Persons other than the   Company or any of its Subsidiaries, and (g) all Indebtedness of the types referred to in clauses (a) through   (f) above of any partnership or joint venture (other than a joint venture that is itself a corporation, limited   liability company or similar limited liability entity organized under the laws of a jurisdiction other than the   United States or a state thereof) in which the Company or any of its Subsidiaries is a general partner or joint   venturer, unless such Indebtedness is expressly made non-recourse to the Company or such Subsidiary.   provided, that (i) if the Company or any Subsidiary delivers or causes to be delivered an irrevocable   repayment or redemption notice that results in Indebtedness in the form of debt securities being due and   payable in full not later than 30 days after such repayment or redemption notice has been delivered and   deposits cash with or for the benefit of the trustee or holders of such Indebtedness to fund such repayment   or redemption in full, then such Indebtedness shall be considered repaid or redeemed (it being understood   that if any applicable deposit is returned and the corresponding Indebtedness is not repaid or redeemed, but   remains outstanding, such Indebtedness shall no longer be considered repaid or redeemed), and (ii) if the   Company or any Subsidiary commences a tender offer to repurchase Indebtedness (the “Repurchased   Indebtedness”) and will be obligated to repurchase such Indebtedness for payment in full, together with   accrued and unpaid interest thereon, after the satisfaction or waiver of any conditions of such tender offer,   and in connection therewith issues Indebtedness in the form of debt securities (the “New Indebtedness”)   the proceeds of which are to be used to repurchase the Repurchased Indebtedness within 30 days of issuance   of such New Indebtedness (the “Period”), then to the extent, and solely so long as, the Company or any   Subsidiary either holds the proceeds of such New Indebtedness in an escrow account with an independent   escrow agent or deposits the proceeds of such New Indebtedness with or for the benefit of the trustee or   holders of such Repurchased Indebtedness to fund the repurchase of such Repurchased Indebtedness, then,   without duplication of any amounts excluded under clause (i) above, the amount of such New Indebtedness                                               9 

 

     shall be deemed for the purpose of this definition to be reduced by the amount of the proceeds thereof that   are so held in escrow or with or for the benefit of the trustee or holders of such Repurchased Indebtedness   (solely to the extent and for so long as so held, and not for the avoidance of doubt to the extent applied to   repurchase the Repurchased Indebtedness or applied for any other purpose other than the repayment of the   New Indebtedness); provided, further, that upon the end of the Period, the deemed reduction of the New   Indebtedness described above shall no longer apply.          “Consolidated Interest Charges” means, for any Measurement Period, for the Company and its   Subsidiaries on a consolidated basis, the sum of, without duplication (a) all interest, premium payments,  debt discount, fees, charges and related expenses of the Company and its Subsidiaries in connection with  borrowed money (including capitalized interest) or in connection with the deferred purchase price of assets,   in each case to the extent treated as interest in accordance with GAAP, but excluding any interest, premium   payments, debt discount, fees, charges and related expenses of the Company and its Subsidiaries in   connection with Pre-Funded Acquisition Debt, and (b) the portion of rent expense of the Company and its   Subsidiaries with respect to such period under Capital Leases that is treated as interest in accordance with   GAAP.          “Consolidated Interest Coverage Ratio” means, as of any date of determination, the ratio of (a)   Consolidated EBITDA for the Measurement Period then most recently ended on or prior to such date, to   (b) Consolidated Interest Charges for such period.          “Consolidated Leverage Ratio” means, as of any date of determination, the ratio of (a) Consolidated   Funded Indebtedness as of such date to (b) Consolidated EBITDA for the Measurement Period then most   recently ended on or prior to such date.          “Consolidated Net Income” means, for any Measurement Period, for the Company and its   Subsidiaries on a consolidated basis, the net income of the Company and its Subsidiaries (excluding   extraordinary gains and extraordinary losses) for that period.          “Contractual Obligation” means, as to any Person, any provision of any security issued by such   Person or of any agreement, instrument or other undertaking to which such Person is a party or by which it   or any of its property is bound.          “Control” means the possession, directly or indirectly, of the power to direct or cause the direction   of the management or policies of a Person, whether through the ability to exercise voting power, by contract   or otherwise.  “Controlling” and “Controlled” have meanings correlative thereto.          “Covered Entity” has the meaning specified in Section 11.22.          “Credit Extension” means each of the following: (a) a Borrowing and (b) an L/C Credit Extension.          “Debt Rating” has the meaning specified in the definition of “Applicable Rate.”          “Debtor Relief Laws” means the Bankruptcy Code of the United States, and all other liquidation,   conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement,   receivership, insolvency, reorganization, judicial management or similar debtor relief Laws of the United   States or other applicable jurisdictions from time to time in effect.  In the case of a Spanish Borrower,   reference to “similar debtor relief Laws of the United States or other applicable jurisdictions” means the   Spanish insolvency law (Ley 22/2003, de 9 de Julio, Concursal).                                                10 

 

           “Default” means any event or condition that constitutes an Event of Default or that, with the giving   of any notice, the passage of time, or both, would be an Event of Default.          “Default Rate” means (a) when used with respect to Obligations other than Letter of Credit Fees,   an interest rate equal to (i) the Base Rate plus (ii) the Applicable Rate, if any, applicable to Base Rate Loans   plus (iii) 2% per annum; provided, however, that with respect to a Eurocurrency Rate Loan, the Default   Rate shall be an interest rate equal to the interest rate (including any Applicable Rate) otherwise applicable   to such Loan plus 2% per annum, and (b) when used with respect to Letter of Credit Fees, a rate equal to   the Applicable Rate plus 2% per annum.          “Defaulting Lender” means, subject to Section 2.17(b), any Lender that (a) has failed to (i) fund all   or any portion of its Loans within two Business Days of the date such Loans were required to be funded   hereunder, or (ii) pay to the Administrative Agent, any L/C Issuer, the applicable Swing Line Lender or   any other Lender any other amount required to be paid by it hereunder (including in respect of its   participation in Letters of Credit or Swing Line Loans) within two Business Days of the date when due,   (b) has notified the Company, the Administrative Agent, any L/C Issuer or the applicable Swing Line  Lender in writing that it does not intend to comply with its funding obligations hereunder, or has made a  public statement to that effect (unless such writing or public statement relates to such Lender’s obligation  to fund a Loan hereunder and states that such position is based on such Lender’s good faith determination  that a condition precedent to funding (which condition precedent, together with any applicable default, shall  be specifically identified in such writing or public statement) cannot be satisfied), (c) has failed, within  three Business Days after written request by the Administrative Agent or the Company, to confirm in  writing to the Administrative Agent and the Company that it will comply with its prospective funding  obligations hereunder (provided that such Lender shall cease to be a Defaulting Lender pursuant to this   clause (c) upon receipt of such written confirmation by the Administrative Agent and the Company), or   (d) has, or has a direct or indirect parent company that has, (i) become the subject of a proceeding under   any Debtor Relief Law, (ii) had appointed for it a receiver, custodian, conservator, trustee, administrator,   judicial manager, assignee for the benefit of creditors or similar Person charged with reorganization or   liquidation of its business or assets, including the Federal Deposit Insurance Corporation or any other state   or federal regulatory authority acting in such a capacity, or (iii) become the subject of a Bail-inBail-In   Action; provided that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or   acquisition of any Equity Interest in that Lender or any direct or indirect parent company thereof by a   Governmental Authority so long as such ownership interest does not result in or provide such Lender with   immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or   writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject,   repudiate, disavow or disaffirm any contracts or agreements made with such Lender.  Any determination   by the Administrative Agent that a Lender is a Defaulting Lender under any one or more of clauses   (a) through (d) above, and of the effective date of such status, shall be conclusive and binding absent   manifest error, and such Lender shall be deemed to be a Defaulting Lender (subject to Section 2.17(b)) as   of the date established therefor by the Administrative Agent in a written notice of such determination, which   shall be delivered by the Administrative Agent to the Company, each L/C Issuer, the applicable Swing Line   Lender and each other Lender promptly following such determination.            “Designated Borrower” has the meaning specified in the introductory paragraph hereto.           “Designated Borrower Notice” has the meaning specified in Section 2.14.          “Designated Borrower Request and Assumption Agreement” has the meaning specified in   Section 2.14.                                                11 

 

         “Designated Borrowers’ Guarantor” has the meaning specified in Section 10.01.         “Designated Borrowers’ Obligations” has the meaning specified in Section 10.01.         “Designated Default” means a Default under Sections 8.01(a), (f) or (g).         “Designated Jurisdiction” means any country or territory to the extent that such country or territory  itself is targeted by any Sanction.         “Discovery Communications Europe” means Discovery Communications Europe Ltd., a company  organized under the laws of England and Wales.          “Disposition” or “Dispose” means the sale, transfer, license, lease or other disposition (including  any sale and leaseback transaction) of any property by any Person, including any sale, assignment, transfer  or other disposal, with or without recourse, of any notes or accounts receivable or any rights and claims  associated therewith.. The term “Disposition” shall not include (a) any issuance of Equity Interests  otherwise permitted by Section 7.06, (b) any Involuntary Disposition or (c) any cash payments otherwise  permitted under this Agreement.         “Dollar” and “$” mean lawful money of the United States.         “Dollar Equivalent” means, at any time, (a) with respect to any amount denominated in Dollars,  such amount, and (b) with respect to any amount denominated in any Alternative Currency, the equivalent  amount thereof in Dollars as determined by the Administrative Agent or the applicable L/C Issuer, as the  case may be, at such time on the basis of the Spot Rate (determined in respect of the most recent Revaluation  Date) for the purchase of Dollars with such Alternative Currency.         “Domestic Subsidiary” means any Subsidiary that is organized under the laws of any political  subdivision of the United States that is not a Foreign Subsidiary.         “EEA Financial Institution” means (a) any credit institution or investment firm established in any  EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity  established in an EEA Member Country which is a parent of an institution described in clause (a) of this  definition, or (c) any financial institution established in an EEA Member Country which is a subsidiary of  an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision with  its parent.         “EEA Member Country” means any of the member states of the European Union, Iceland,  Liechtenstein, and Norway.         “EEA Resolution Authority” means any public administrative authority or any person entrusted  with public administrative authority of any EEA Member Country (including any delegee) having  responsibility for the resolution of any EEA Financial Institution.          “Eligible Assignee” means any Person that meets the requirements to be an assignee under Section  11.06(b)(iii), and (v) subject to such consents, if any, as may be required under Section 11.06(b)(iii)).         “Environmental Laws” means any and all Federal, state, local, and foreign statutes, laws,  regulations, ordinances, rules, judgments, orders, decrees, permits, concessions, grants, franchises, licenses,  agreements or governmental restrictions relating to pollution and the protection of the environment or the                                             12 

 

    release of any materials into the environment, including those related to hazardous substances or wastes,  air emissions and discharges to waste or public systems.          “Environmental Liability” means any liability, contingent or otherwise (including any liability for   damages, costs of environmental remediation, fines, penalties or indemnities) of the Company or any of its   Subsidiaries directly or indirectly resulting from or based upon (a) violation of any Environmental Law, (b)   the generation, use, handling, transportation, storage, treatment or disposal of any Hazardous Materials, (c)   exposure to any Hazardous Materials, (d) the release or threatened release of any Hazardous Materials into   the environment or (e) any contract, agreement or other consensual arrangement pursuant to which liability   is assumed or imposed with respect to any of the foregoing.          “Equity Interests” means, with respect to any Person, all of the shares of capital stock of (or other   ownership or profit interests in) such Person, all of the warrants, options or other rights for the purchase or   acquisition from such Person of shares of capital stock of (or other ownership or profit interests in) such   Person, all of the securities convertible into or exchangeable for shares of capital stock of (or other   ownership or profit interests in) such Person or warrants, rights or options for the purchase or acquisition   from such Person of such shares (or such other interests), and all of the other ownership or profit interests   in such Person (including partnership, member or trust interests therein), whether voting or nonvoting, and   whether or not such shares, warrants, options, rights or other interests are outstanding on any date of   determination.          “ERISA” means the Employee Retirement Income Security Act of 1974.          “ERISA Affiliate” means any trade or business (whether or not incorporated) under common   control with the Facility Guarantor within the meaning of Section 414(b) or (c) of the Code (and Sections   414(m) and (o) of the Code for purposes of provisions relating to Section 412 of the Code).          “ERISA Event” means (a) a Reportable Event with respect to a Pension Plan; (b) the withdrawal   of the Facility Guarantor or any ERISA Affiliate from a Pension Plan subject to Section 4063 of ERISA   during a plan year in which such entity was a “substantial employer” as defined in Section 4001(a)(2) of   ERISA or a cessation of operations that is treated as such a withdrawal under Section 4062(e) of ERISA;   (c) a complete or partial withdrawal by the Facility Guarantor or any ERISA Affiliate from a Multiemployer   Plan or notification that a Multiemployer Plan is in reorganization; (d) the filing of a notice of intent to   terminate, the treatment of a Pension Plan amendment as a termination under Section 4041 or 4041A of   ERISA; (e) the institution by the PBGC of proceedings to terminate a Pension Plan; (f) any event or   condition which constitutes grounds under Section 4042 of ERISA for the termination of, or the   appointment of a trustee to administer, any Pension Plan; (g) the determination that any Pension Plan is   considered an at-risk plan or a plan in endangered or critical status within the meaning of Sections 430, 431   and 432 of the Code or Sections 303, 304 and 305 of ERISA; or (h) the imposition of any liability under   Title IV of ERISA, other than for PBGC premiums due but not delinquent under Section 4007 of ERISA,   upon the Facility Guarantor or any ERISA Affiliate.          “EU Bail-In Legislation Schedule” means the EU Bail-In Legislation Schedule published by the   Loan Market Association (or any successor person), as in effect from time to time.          “Euro” and “€” mean the single currency of the Participating Member States.          “Euro Overnight Rate” means an interest rate per annum equal to the rate at which overnight   deposits in Euro approximately equal in principal amount to such Borrowing are offered to the applicable                                                13 

 

    Swing Line Lender in immediately available funds in the Euro interbank market at approximately 11:00  a.m., London time, on such day.          “Euro Overnight Rate Loan” means a Loan bearing interest calculated by reference to the Euro   Overnight Rate.          “Eurocurrency Rate” means:          (a)   With respect to any Credit Extension:           (i)  denominated in a LIBOR Quoted Currency, the rate per annum equal to the London  Interbank Offered Rate (“LIBOR”) or a comparable or successor rate which rate is approved by the   Administrative Agent, as published on the applicable Bloomberg screen page (or such other commercially   available source providing such quotations as may be designated by the Administrative Agent from time   to time) at approximately 11:00 a.m., London time, two Business Days prior to the commencement of   such Interest Period, for deposits in the relevant currency (for delivery on the first day of such Interest   Period) with a term equivalent to such Interest Period;           (ii) denominated in any other Non-LIBOR Quoted Currency, the rate per annum as designated  with respect to such Alternative Currency at the time such Alternative Currency is approved by the  Administrative Agent and the Lenders pursuant to Section 1.06(a); and           (b)   for any rate calculation with respect to a Base Rate Loan on any date, the rate per annum  equal to LIBOR, at or about 11:00 a.m., London time determined two Business Days prior to such date  for Dollar deposits with a term of one month commencing that day;    provided that to the extent a comparable or successor rate is approved by the Administrative Agent (in   consultation with the Required Tranche 1 Lenders and the Required Tranche 2 Lenders) in connection with   any rate set forth in this definition, the approved rate shall be applied in a manner consistent with market   practice; provided, further that to the extent such market practice is not administratively feasible for the   Administrative Agent, such approved rate shall be applied in a manner as otherwise reasonably determined   by the Administrative Agent; and if the Eurocurrency Rate shall be less than zero0.50%, such rate shall be   deemed zero0.50% for purposes of this Agreement.  All Committed Loans denominated in an Alternative   Currency must be Eurocurrency Rate Loans.          “Eurocurrency Rate Loan” means a Committed Loan that bears interest at a rate based on clause   (a) of the definition of “Eurocurrency Rate.”  Eurocurrency Rate Loans may be denominated in Dollars or   in an Alternative Currency.  All Committed Loans denominated in an Alternative Currency must be   Eurocurrency Rate Loans.          “Event of Default” has the meaning specified in Section 8.01.           “Excluded Taxes” means any of the following Taxes imposed on or with respect to any Recipient   or required to be withheld or deducted from a payment to a Recipient, (a) Taxes imposed on or measured   by net income (however denominated), franchise Taxes, and branch profits Taxes, in each case, (i) imposed   as a result of such Recipient being organized under the laws of, or having its principal office or, in the case   of any Lender, its Lending Office located in, the jurisdiction imposing such Tax (or any political subdivision   thereof) or (ii) that are Other Connection Taxes, (b) in the case of a Lender, U.S. federal withholding Taxes  imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in  a Loan or Commitment pursuant to a law in effect on the date on which (i) such Lender acquires such                                               14 

 

     interest in the Loan or Commitment (other than pursuant to an assignment request by the Company under   Section 11.13) or (ii) such Lender changes its Lending Office, except in each case to the extent that,   pursuant to Section 3.01(a)(ii), (a)(iii) or (c), amounts with respect to such Taxes were payable either to   such Lender’s assignor immediately before such Lender became a party hereto or to such Lender   immediately before it changed its Lending Office, (c) Taxes attributable to such Recipient’s failure to   comply with Section 3.01(e), (d) any U.S. federal withholding Taxes imposed pursuant to FATCA, and (e)   where the relevant Lender is a Treaty Lender, Taxes attributable to that Lender failing to comply with its   obligations under Section 3.01(c)(iii), (iv) and (vii) below.  Notwithstanding anything to the contrary   contained in this definition, “Excluded Taxes” shall not include any withholding tax (other than Other   Connection Taxes) imposed at any time on payments made by or on behalf of a Foreign Obligor to any   Recipient hereunder or under any other Loan Document, provided that such Lender shall have complied   with Section 3.01(e)(i), (iii), and (iv) and, if the relevant Lender is a Treaty Lender, Section 3.01(c)(iii),   (iv), and (vii).          “Existing Credit Agreement” has the meaning specified in the introductory paragraph hereto.          “Existing Lenders” has the meaning specified in the introductory paragraph hereto.           “Existing Letters of Credit” means the letters of credit outstanding under the Existing Credit   Agreement on the Closing Date, if any, identified on Schedule 1.01.           “Existing Scripps Notes” means Scripps’s 2.75% Senior Notes due 2019, 2.80% Senior Notes due   2020, 3.50% Senior Notes due 2022, 3.90% Senior Notes due 2024 and 3.95% Senior Notes due 2025  outstanding as of the Scripps Acquisition Closing Date.          “Extending Lender” has the meaning specified in Section 2.18(e).          “Extension Election Date” has the meaning specified in Section 2.18(a).          “Facility Guarantor” has the meaning specified in the introductory paragraph hereto and any   successor in interest thereto.          “FASB ASC” means the Accounting Standards Codification of the Financial Accounting Standards   Board.           “FATCA” means (a) Sections 1471 through 1474 of the Code, as of the date of this Agreement (or   any amended or successor version that is substantively comparable and not materially more onerous to   comply with), any current or future regulations or official interpretations thereof and any agreements   entered into pursuant to Section 1471(b)(1) of the Code, (b) any treaty, law, regulation or other official   guidance enacted in any jurisdiction, or relating to an intergovernmental agreement between the United   States and any other jurisdiction, with the purpose (in either case) of facilitating the implementation of   clause (a) above, or (c) any agreement pursuant to the implementation of clauses (a) or (b) above with the   United States Internal Revenue Service, the United States government or any governmental or taxation   authority.          “Federal Funds Rate” means, for any day, the rate per annum equal to the weighted average of the   rates on overnight Federal funds transactions with members of the Federal Reserve System as published by   the Federal Reserve Bank of New York on the Business Day next succeeding such day; provided that (a) if   such day is not a Business Day, the Federal Funds Rate for such day shall be such rate on such transactions   on the next preceding Business Day as so published on the next succeeding Business Day, and (b) if no                                               15 

 

   such rate is so published on such next succeeding Business Day, the Federal Funds Rate for such day shall  be the average rate (rounded upward, if necessary, to a whole multiple of 1/100 of 1%) charged to Bank of  America on such day on such transactions as determined by the Administrative Agent.  Notwithstanding  the foregoing, in no event shall the Federal Funds Rate be less than 0.00%.         “Fee Letters” means each of (i) the Joint Fee Letter, (ii) the letter agreement dated January 6, 2016,  among the Facility Guarantor, the Company, Merrill Lynch, Pierce, Fenner & Smith Incorporated and the  Administrative Agent, (iii) the letter agreement dated January 6, 2015, among the Facility Guarantor, the  Company, BNP Paribas and BNP Paribas Securities Corp., (iv) the letter agreement dated January 6, 2015,  among the Facility Guarantor, the Company, and Citigroup Global Markets Inc., (v) the letter agreement  dated January 6, 2015, among the Facility Guarantor, the Company, J.P. Morgan Securities LLC, and  JPMorgan Chase Bank, N.A. and (vi) the letter agreement dated January 6, 2015, among the Facility  Guarantor, the Company and Mizuho Bank, Ltd.         “Film Rights Amortization” means, for any Person, the amortization of payments for the acquisition  of film rights and broadcast programming by such Person in accordance with GAAP.         “Foreign Lender” means, with respect to any Borrower, (a) if such Borrower is a U.S. Person, a  Lender that is not a U.S. Person, and (b) if such Borrower is not a U.S. Person, a Lender that is resident or  organized under the laws of a jurisdiction other than that in which such Borrower is resident for tax  purposes.  For purposes of this definition, the United States, each State thereof and the District of Columbia  shall be deemed to constitute a single jurisdiction.           “Foreign Obligor” means a Loan Party that is a Foreign Subsidiary.         “Foreign Subsidiary” means any Subsidiary that is organized under the laws of a jurisdiction other  than the United States, a State thereof or the District of Columbia or that is a Foreign Subsidiary Holdco.   For the avoidance of doubt, any Subsidiary of the Company that is organized and existing under the laws  of Puerto Rico or any other territory of the United States of America shall be a Foreign Subsidiary.          “Foreign Subsidiary Holdco” means any Subsidiary of the Company designated as a Foreign  Subsidiary Holdco by the Company, so long as such Subsidiary has no material assets other than securities,  Indebtedness or receivables of one or more Foreign Subsidiaries (or Subsidiaries thereof), intellectual  property relating solely to such Foreign Subsidiaries (or Subsidiaries thereof) and/or other assets (including  cash and cash equivalents) relating to an ownership interest in any such securities, Indebtedness, intellectual  property or Subsidiaries.         “FRB” means the Board of Governors of the Federal Reserve System of the United States.         “Fronting Exposure” means, at any time there is a Defaulting Lender, (a) with respect to the L/C  Issuers, such Defaulting Lender’s Applicable Percentage of the Outstanding Amount of all outstanding L/C  Obligations other than L/C Obligations as to which such Defaulting Lender’s participation obligation has  been reallocated to other Tranche 1 Lenders or Cash Collateralized in accordance with the terms hereof,  and (b) with respect to the Swing Line Lenders, such Defaulting Lender’s Applicable Percentage of Swing  Line Loans other than Swing Line Loans as to which such Defaulting Lender’s participation obligation has  been reallocated to other Tranche 1 Lenders in accordance with the terms hereof.         “Fund” means any Person (other than a natural Person) that is (or will be) engaged in making,  purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the  ordinary course of its activities.                                              16 

 

           “GAAP” means generally accepted accounting principles in the United States set forth in the   opinions and pronouncements of the Accounting Principles Board and the American Institute of Certified   Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or   such other principles as may be approved by a significant segment of the accounting profession in the   United States, that are applicable to the circumstances as of the date of determination, consistently applied.          “Governmental Authority” means the government of the United States or any other nation, or of   any political subdivision thereof, whether state or local, and any agency, authority, instrumentality,   regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing,   regulatory or administrative powers or functions of or pertaining to government (including any supra- national bodies such as the European Union or the European Central Bank).            “Guarantee” means, as to any Person, (a) any obligation, contingent or otherwise, of such Person   guaranteeing or having the economic effect of guaranteeing any Indebtedness or other obligation payable   or performable by another Person (the “primary obligor”) in any manner, whether directly or indirectly, and   including any obligation of such Person, direct or indirect, (i) to purchase or pay (or advance or supply   funds for the purchase or payment of) such Indebtedness or other obligation, (ii) to purchase or lease   property, securities or services for the purpose of assuring the obligee in respect of such Indebtedness or   other obligation of the payment or performance of such Indebtedness or other obligation, (iii) to maintain   working capital, equity capital or any other financial statement condition or liquidity or level of income or  cash flow of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other  obligation, or (iv) entered into for the purpose of assuring in any other manner the obligee in respect of  such Indebtedness or other obligation of the payment or performance thereof or to protect such obligee  against loss in respect thereof (in whole or in part), or (b) any Lien on any assets of such Person securing  any Indebtedness or other obligation of any other Person, whether or not such Indebtedness or other  obligation is assumed by such Person.  The amount of any Guarantee shall be deemed to be an amount  equal to the stated or determinable amount of the related primary obligation, or portion thereof, in respect  of which such Guarantee is made or, if not stated or determinable, the maximum reasonably anticipated  liability in respect thereof as determined by the guaranteeing Person in good faith.  The term “Guarantee”  as a verb has a corresponding meaning.          “Guarantor” and “Guarantors” have the meanings specified in Section 10.01.          “Guaranty” means the Guaranty made by the Guarantors in favor of the Lender Parties pursuant to   Article X.          “Hazardous Materials” means all explosive or radioactive substances or wastes and all hazardous   or toxic substances, wastes or other pollutants, including petroleum or petroleum distillates, asbestos or   asbestos-containing materials, polychlorinated biphenyls, radon gas, infectious or medical wastes and all   other substances or wastes of any nature regulated pursuant to any Environmental Law.            “Indebtedness” means, as to any Person at a particular time, without duplication, all of the   following, whether or not included as indebtedness or liabilities in accordance with GAAP:                (a)   all obligations of such Person for borrowed money and all obligations of such        Person evidenced by bonds, debentures, notes, loan agreements or other similar instruments;                (b)   all direct or contingent obligations of such Person arising under letters of credit        (including standby and commercial), bankers’ acceptances, bank guaranties, surety bonds and        similar instruments;                                               17 

 

                (c)    net obligations of such Person under any Swap Contract;               (d)    all non-contingent obligations of such Person to pay the deferred purchase price of        property or services (other than trade accounts payable in the ordinary course of business);               (e)   indebtedness (excluding prepaid interest thereon) secured by a Lien on property        owned or being purchased by such Person (including indebtedness arising under conditional sales        or other title retention agreements), whether or not such indebtedness shall have been assumed by        such Person or is limited in recourse;               (f)   Capital Leases and Synthetic Lease Obligations;                (g)   all obligations of such Person to purchase, redeem, retire, defease or otherwise        make any payment in respect of any Equity Interest in such Person or any other Person, valued, in        the case of a redeemable preferred interest, at the greater of its voluntary or involuntary liquidation        preference plus accrued and unpaid dividends; and                (h)   all Guarantees of such Person in respect of any of the foregoing.          For all purposes hereof, the Indebtedness of any Person shall include the Indebtedness of any   partnership or joint venture (other than a joint venture that is itself a corporation, limited liability company   or similar limited liability entity organized under the laws of a jurisdiction other than the United States or   a state thereof) in which such Person is a general partner or a joint venturer, unless such Indebtedness is   expressly made non-recourse to such Person.  The amount of any net obligation under any Swap Contract  on any date shall be deemed to be the Swap Termination Value thereof as of such date.  The amount of any  Capital Lease or Synthetic Lease Obligation as of any date shall be deemed to be the amount of Attributable  Indebtedness in respect thereof as of such date.          “Indemnified Taxes” means (a) Taxes, other than Excluded Taxes, imposed on or with respect to   any payment made by or on account of any obligation of any Loan Party under any Loan Document and   (b) to the extent not otherwise described in clause (a), Other Taxes.            “Indemnitees” has the meaning specified in Section 11.04(b).          “Information” has the meaning specified in Section 11.07.          “Interest Payment Date” means, (a) as to any Loan other than a Base Rate Loan, the last day of   each Interest Period applicable to such Loan and the Maturity Date; provided, however, that if any Interest   Period for a Eurocurrency Rate Loan exceeds three months, the respective dates that fall every three months   after the beginning of such Interest Period shall also be Interest Payment Dates; and (b) as to any Base Rate   Loan (including a Swing Line Loan), the last Business Day of each March, June, September and December   and the Maturity Date.          “Interest Period” means, as to each Eurocurrency Rate Loan, the period commencing on the date   such Eurocurrency Rate Loan is disbursed or converted to or continued as a Eurocurrency Rate Loan and   ending on the date one, two, three or six months thereafter (in each case, subject to availability), as selected   by the Company in its Committed Loan Notice or such other period that is twelve months or less requested   by the Company and consented to by all the Lenders; provided that:                                                 18 

 

              (i)    any Interest Period that would otherwise end on a day that is not a Business Day       shall be extended to the next succeeding Business Day unless, in the case of a Eurocurrency Rate       Loan, such Business Day falls in another calendar month, in which case such Interest Period shall       end on the next preceding Business Day;              (ii)  any Interest Period pertaining to a Eurocurrency Rate Loan that begins on the last       Business Day of a calendar month (or on a day for which there is no numerically corresponding       day in the calendar month at the end of such Interest Period) shall end on the last Business Day of       the calendar month at the end of such Interest Period; and              (iii) no Interest Period shall extend beyond the Maturity Date.         “Investment” means, as to any Person, any direct or indirect acquisition or investment by such  Person, whether by means of (a) the purchase or other acquisition of capital stock or other securities of  another Person, (b) a loan, advance or capital contribution to, Guarantee or assumption of debt of, or  purchase or other acquisition of any other debt or equity participation or interest in, another Person,  including any partnership or joint venture interest in such other Person and any arrangement pursuant to  which the investor Guarantees Indebtedness of such other Person, or (c) the purchase or other acquisition  (in one transaction or a series of transactions) of assets of another Person that constitute a business unit.   For purposes of covenant compliance, the amount of any Investment shall be the amount actually invested,  without adjustment for subsequent increases or decreases in the value of such Investment, less any amount  paid, repaid, returned, distributed or otherwise received in respect of any Investment. For the avoidance of  doubt, advances and reimbursements to officers, directors or employees of the Company and its  Subsidiaries for travel, entertainment, relocation and analogous ordinary business purposes shall not be  deemed to be an Investment hereunder.          “Involuntary Disposition” means any casualty loss, destruction, condemnation or other involuntary  taking by any Governmental Authority of any property of the Company or any of its Subsidiaries.         “IP Rights” has the meaning specified in Section 5.18.         “IRS” means the United States Internal Revenue Service.         “ISP” means, with respect to any Letter of Credit, the “International Standby Practices 1998”  published by the Institute of International Banking Law & Practice, Inc. (or such later version thereof as  may be in effect at the time of issuance).         “Issuer Documents” means with respect to any Letter of Credit, the Letter of Credit Application,  and any other document, agreement and instrument entered into by the applicable L/C Issuer and the  Company (or any Subsidiary) or in favor of the applicable L/C Issuer and relating to such Letter of Credit.          “Joint Fee Letter” means the letter agreement dated January 6, 2016, among the Facility Guarantor,  the Company and each of Bank of America, N.A., Merrill Lynch, Pierce, Fenner & Smith Incorporated,  JPMorgan Chase Bank, N.A., J.P. Morgan Securities LLC, Mizuho Bank, Ltd., Citigroup Global Markets  Inc., Credit Suisse AG, Cayman Islands Branch, Credit Suisse Securities (USA) LLC, Royal Bank of  Canada, BNP Paribas and BNP Paribas Securities Corp.         “Joint Venture” means any Person (other than a wholly-owned Subsidiary of the Company) if any  of the Equity Interests of such Person having ordinary voting power for the election of directors or other                                             19 

 

    governing body of such Person are held by the Company and/or any of its Subsidiaries and the Company  or any such Subsidiary is a party to a Joint Venture Agreement in respect of such Equity Interests.          “Joint Venture Agreement” means, for any Joint Venture, any stockholder agreement, voting trust   agreement, limited liability company agreement, operating agreement or other similar agreement related to   the ownership of the Equity Interests of such Joint Venture having ordinary voting power for the election   of directors or other governing body of such Joint Venture among the owners of such Equity Interests.          “Laws” means, collectively, all international, foreign, Federal, state and local statutes, treaties,   rules, guidelines, regulations, ordinances, codes and administrative or judicial precedents or authorities,   including the interpretation or administration thereof by any Governmental Authority charged with the   enforcement, interpretation or administration thereof, and all applicable administrative orders, directed   duties, requests, licenses, authorizations and permits of, and agreements with, any Governmental Authority,   in each case whether or not having the force of law.          “L/C Advance” means, with respect to each Tranche 1 Lender, such Tranche 1 Lender’s funding   of its participation in any L/C Borrowing in accordance with its Applicable Tranche 1 Percentage. All L/C   Advances shall be denominated in Dollars.          “L/C Borrowing” means an extension of credit resulting from a drawing under any Letter of Credit   which has not been reimbursed on the date when made or refinanced as a Tranche 1 Borrowing. All L/C   Borrowings shall be denominated in Dollars.          “L/C Commitment” means, as to each L/C Issuer, its obligation to issue Letters of Credit in an   aggregate principal stated amount at any one time outstanding that, together with all L/C Obligations issued   by such L/C Issuer and owing then thereto, does not exceed the Dollar Equivalent of $17,000,000.          “L/C Credit Extension” means, with respect to any Letter of Credit, the issuance thereof or   extension of the expiry date thereof, or the increase of the amount thereof.          “L/C Issuer” means each of Bank of America, JPMorgan Chase Bank, N.A., Mizuho Bank, Ltd.,   Royal Bank of Canada, Citibank, N.A. and BNP Paribas in its capacity as issuer of Letters of Credit   hereunder, or any successor issuer of Letters of Credit hereunder.          “L/C Obligations” means, as at any date of determination, the aggregate amount available to be   drawn under all outstanding Letters of Credit plus the aggregate of all Unreimbursed Amounts, including   all L/C Borrowings.  For purposes of computing the amount available to be drawn under any Letter of   Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.09.  For all   purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but   any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the ISP, such Letter   of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn.          “Lender” has the meaning specified in the introductory paragraph hereto and, as the context   requires, includes a Lender in its capacity as an L/C Issuer, as Tranche 1 Lender, as Tranche 2 Lender and   (in the case of Bank of America) as Swing Line Dollar Lender and Swing Line Lender and (in the case of   each of Bank of America and Citibank, N.A.) as Swing Line Euro Lender and Swing Line Lender.          “Lender Parties” means, collectively, the Lenders (including the Swing Line Lenders), the L/C   Issuers and the Administrative Agent.                                                20 

 

           “Lending Office” means, as to any Lender, the office or offices of such Lender described as such   in such Lender’s Administrative Questionnaire, or such other office or offices as a Lender may from time   to time notify the Company and the Administrative Agent which office may include any Affiliate of such   Lender or any domestic or foreign branch of such Lender or such Affiliate. Unless the context otherwise  requires each reference to a Lender shall include its applicable Lending Office.          “Letter of Credit” means any standby letter of credit issued hereunder providing for the payment   of cash upon the honoring of a presentation thereunder and shall include any Existing Letters of Credit.    Letters of Credit may be issued in Dollars or in an Alternative Currency.          “Letter of Credit Application” means an application and agreement for the issuance or amendment   of a Letter of Credit in the form from time to time in use by the applicable L/C Issuer.          “Letter of Credit Expiration Date” means the day that is seven days prior to the Maturity Date then   in effect (or, if such day is not a Business Day, the next preceding Business Day).          “Letter of Credit Fee” has the meaning specified in Section 2.03(h).          “Letter of Credit Sublimit” means an amount equal to the lesser of (a) $100,000,000 and (b) the   Aggregate Tranche 1 Commitments then in effect.  The Letter of Credit Sublimit is part of, and not in   addition to, the Aggregate Tranche 1 Commitments.          “LIBOR” has the meaning specified in the definition of Eurocurrency Rate.          “LIBOR Quoted Currency” means each of the following currencies: Dollars; Euro; Sterling; and   Yen; in each case as long as there is a published LIBOR rate with respect thereto.          “Lien” means any mortgage, pledge, hypothecation, assignment, deposit arrangement,   encumbrance, lien (statutory or other), charge, or preference, priority or other security interest or   preferential arrangement in the nature of a security interest of any kind or nature whatsoever (including any   conditional sale or other title retention agreement, any easement, right of way or other encumbrance on title   to real property, and any financing lease having substantially the same economic effect as any of the   foregoing).          “Loan” means an extension of credit by a Lender to a Borrower under Article II in the form of a   Committed Loan or a Swing Line Loan.          “Loan Documents” means this Agreement (including the Guaranty), Amendment No. 1, each   Designated Borrower Request and Assumption Agreement, each Note, any joinder agreement executed by   Scripps or any of its subsidiaries pursuant to Section 6.15, any joinder agreement executed by a Material   Subsidiary to become a Guarantor pursuant to Section 6.16, each Issuer Document, any agreement creating   or perfecting rights in Cash Collateral pursuant to the provisions of Section 2.16 and the Fee Letters.           “Loan Parties” means the Company, each Guarantor, and each Designated Borrower.          “Loan Party Materials” has the meaning specified in Section 6.02.          “London Banking Day” means any day on which dealings in Dollar deposits are conducted by and   between banks in the London interbank eurodollar market.                                                21 

 

         “Luxembourg Borrower” means a Designated Borrower that is organized, incorporated or formed  under the laws of Luxembourg.         “Material Adverse Effect” means (a) a material adverse change in, or a material adverse effect  upon, the operations, business, assets, properties, liabilities (actual or contingent) or financial condition of  the Facility Guarantor and its Subsidiaries taken as a whole; (b) a material impairment of the ability of any  Loan Party to perform its obligations under any Loan Document to which it is a party; or (c) a material  adverse effect upon the legality, validity, binding effect or enforceability against any Loan Party of any  Loan Document to which it is a party.          “Material Subsidiary” means any wholly-owned Domestic Subsidiary of the Company constituting  a “significant subsidiary” in accordance with Rule 1-02 under Regulation S-X under the Securities Act.         “Maturity Date” means the later of (a) August 11, 2022 and (b) if maturity is extended pursuant to  Section 2.18, such extended maturity date as determined pursuant to such Section; provided, however, that,  in each case, if such date is not a Business Day, the Maturity Date shall be the next preceding Business  Day.          “Maximum Rate” has the meaning specified in Section 11.09.         “Measurement Period” means a period of four consecutive fiscal quarters of the Company. Unless  otherwise specified, on any date of determination, a reference herein to a Measurement Period shall be to  such period then ended or then most recently ended, as the case may be, for which financial statements of  the Facility Guarantor have been (or have been required to be) delivered under Section 6.01.         “Minimum Collateral Amount” means, at any time, (i) with respect to Cash Collateral consisting  of cash or deposit account balances provided to reduce or eliminate Fronting Exposure during the existence  of a Defaulting Lender, an amount equal to 100% of the aggregate Fronting Exposure of the L/C Issuers  with respect to Letters of Credit issued and outstanding at such time, (ii) with respect to Cash Collateral  consisting of cash or deposit account balances provided in accordance with the provisions of Section  2.16(a)(i), (a)(ii) or (a)(iii), an amount equal to 102% of the Outstanding Amount of all LC Obligations,  and (iii) otherwise, an amount determined by the Administrative Agent and the L/C Issuers in their sole  discretion.         “Moody’s” means Moody’s Investors Service, Inc. and any successor thereto.         “Multiemployer Plan” means any employee benefit plan of the type described in Section 4001(a)(3)  of ERISA, to which the Facility Guarantor or any ERISA Affiliate makes or is obligated to make  contributions, or during the preceding five plan years, has made or been obligated to make contributions.         “Multiple Employer Plan” means a Plan which has two or more contributing sponsors (including  the Facility Guarantor or any ERISA Affiliate) at least two of whom are not under common control, as such  a plan is described in Section 4064 of ERISA.         “Non-Consenting Lender” means any Lender that does not approve any consent, waiver or  amendment that: (i) (A) requires the approval of all Lenders or all affected Lenders in accordance with the  terms of Section 11.01 and (B) has been approved by the Required Lenders; (ii) (A) requires the approval  of all Tranche 1 Lenders in accordance with the terms of Section 11.01 and (B) has been approved by the  Required Tranche 1 Lenders; or (iii) (A) requires the approval of all Tranche 2 Lenders in accordance with  the terms of Section 11.01 and (B) has been approved by the Required Tranche 2 Lenders.                                            22 

 

         “Non-Defaulting Lender” means, at any time, each Lender that is not a Defaulting Lender at such  time.         “Non-Extending Lender” has the meaning specified in Section 2.18(b).         “Non-LIBOR Quoted Currency” means any currency other than a LIBOR Quoted Currency.         “Note” means a promissory note made by a Borrower in favor of a Lender evidencing Loans made  by such Lender to such Borrower, substantially in the form of Exhibit C-1 (in the case of Tranche 1 Loans)  and Exhibit C-2 (in the case of Tranche 2 Loans).         “Notice Date” has the meaning specified in Section 2.18(b).         “Obligations” means all advances to, and debts, liabilities, obligations, covenants and duties of,  any Loan Party arising under any Loan Document or otherwise with respect to any Loan or Letter of Credit,  whether direct or indirect (including those acquired by assumption), absolute or contingent, due or to  become due, now existing or hereafter arising and including interest and fees that accrue after the  commencement by or against any Loan Party or any Affiliate thereof of any proceeding under any Debtor  Relief Laws naming such Person as the debtor in such proceeding, regardless of whether such interest and  fees are allowed claims in such proceeding.           “OFAC” means the Office of Foreign Assets Control of the United States Department of the  Treasury.         “Organization Documents” means, (a) with respect to any corporation, the certificate or articles of  incorporation and the bylaws (or equivalent or comparable constitutive documents with respect to any non- U.S. jurisdiction); (b) with respect to any limited liability company, the certificate or articles of formation  or organization and operating agreement (or equivalent or comparable constitutive documents with respect  to any non-US jurisdiction); and (c) with respect to any partnership, joint venture, trust or other form of  business entity, the partnership, joint venture or other applicable agreement of formation or organization  and any agreement, instrument, filing or notice with respect thereto filed in connection with its formation  or organization with the applicable Governmental Authority in the jurisdiction of its formation or  organization and, if applicable, any certificate or articles of formation or organization of such entity.         “Other Connection Taxes” means, with respect to any Recipient, Taxes imposed as a result of a  present or former connection between such Recipient and the jurisdiction imposing such Tax (other than  connections arising from such Recipient having executed, delivered, become a party to, performed its  obligations under, received payments under, received or perfected a security interest under, engaged in any  other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in any Loan  or Loan Document).         “Other Taxes” means all present or future stamp, court or documentary, recording, filing or similar  Taxes that arise from any payment made under, from the execution, delivery, performance, enforcement or  registration of, from the receipt or perfection of a security interest under, or otherwise with respect to, any  Loan Document, except any such Taxes that are Other Connection Taxes imposed with respect to an  assignment (other than an assignment made pursuant to Section 3.06).         “Outstanding Amount” means (i) with respect to Committed Loans on any date, the Dollar  Equivalent amount of the aggregate outstanding principal amount thereof after giving effect to any  borrowings and prepayments or repayments of such Committed Loans occurring on such date; (ii) with                                            23 

 

    respect to Swing Line Loans on any date, the aggregate outstanding principal amount thereof after giving  effect to any borrowings and prepayments or repayments of such Swing Line Loans occurring on such date;  and (iii) with respect to any L/C Obligations on any date, the Dollar Equivalent amount of the aggregate  outstanding amount of such L/C Obligations on such date after giving effect to any L/C Credit Extension  occurring on such date and any other changes in the aggregate amount of the L/C Obligations as of such  date, including as a result of any reimbursements by the Company of Unreimbursed Amounts, and any Cash  Collateral posted by the Company in respect of such L/C Obligations, which such reimbursements or  posting of Cash Collateral shall, in each case, reduce the Outstanding Amount.           “Overnight Rate” means, for any day, (a) with respect to any amount denominated in Dollars, the   greater of (i) the Federal Funds Rate and (ii) an overnight rate determined by the Administrative Agent, the   applicable L/C Issuer, or the Swing Line Lender, as the case may be, in accordance with banking industry   rules on interbank compensation, and (b) with respect to any amount denominated in an Alternative   Currency, the rate of interest per annum at which overnight deposits in the applicable Alternative Currency,   in an amount approximately equal to the amount with respect to which such rate is being determined, would   be offered for such day by the applicable L/C Issuer in the applicable offshore interbank market for such   currency to major banks in such interbank market.           “Participant” has the meaning specified in Section 11.06(d).           “Participant Register” has the meaning specified in Section 11.06(d).          “Participating Member State” means any member state of the European Union that has the Euro as   its lawful currency in accordance with legislation of the European Union relating to Economic and   Monetary Union.          “PBGC” means the Pension Benefit Guaranty Corporation.          “Pension Act” means the Pension Protection Act of 2006.          “Pension Funding Rules” means the rules of the Code and ERISA regarding minimum required   contributions (including any installment payment thereof) to Pension Plans and set forth in, with respect to   plan years ending prior to the effective date of the Pension Act, Section 412 of the Code and Section 302   of ERISA, each as in effect prior to the Pension Act and, thereafter, Section 412, 430, 431, 432 and 436 of   the Code and Sections 302, 303, 304 and 305 of ERISA.          “Pension Plan” means any employee pension benefit plan (including a Multiple Employer Plan or   a Multiemployer Plan) that is maintained or is contributed to by the Facility Guarantor and any ERISA   Affiliate and is either covered by Title IV of ERISA or is subject to the minimum funding standards under   Section 412 of the Code.          “Permitted Priority Amount” on any date of determination means an amount equal to the sum of   (a) 10% of the total consolidated assets of the Company and its Subsidiaries on such date; provided that,   during the first 30 calendar days following the Scripps Acquisition Closing Date, and for so long as Scripps   is not a Subsidiary Guarantor hereunder and the Existing Scripps Notes (and any refinancings, refundings,   renewals or extensions thereof) are not obligations solely of the Company (and, at the option of the   Company, the Facility Guarantor) during such 30 calendar day period, such amount shall be increased to   the aggregate outstanding principal amount of the Existing Scripps Notes (or refinancings, refundings,   renewals or extensions thereof) on such date if greater than 10% of the total consolidated assets of the   Company and its Subsidiaries on such date, plus (b) for the Company and its Subsidiaries on a consolidated                                               24 

 

     basis, outstanding Attributable Indebtedness on such date in respect of the Capital Leases identified on   Schedule 7.01 and any renewals or extensions thereof permitted by Section 7.01(b).          “Person” means any natural person, corporation, limited liability company, trust, joint venture,   association, company, partnership, Governmental Authority or other entity.          “Plan” means any employee benefit plan within the meaning of Section 3(3) of ERISA (including   a Pension Plan), maintained for employees of the Facility Guarantor or any ERISA Affiliate or any such   Plan to which the Facility Guarantor or any ERISA Affiliate is required to contribute on behalf of any of   its employees.          “Platform” has the meaning specified in Section 6.02.           “Pre-Funded Acquisition Debt” means Indebtedness incurred for the purpose of financing a   significant acquisition (including for the avoidance of doubt the Scripps Acquisition, and with significance   otherwise calculated in accordance with Article 11 of Regulation S-X under the Securities Act), which   Indebtedness is issued in advance of the date of consummation of such significant acquisition; provided   that in the event of the termination of the acquisition agreement for such significant acquisition as a result   of the failure to consummate such significant acquisition, such Indebtedness shall be regarded as Pre-  Funded Acquisition Debt solely for a period of 45 days after the termination of such acquisition agreement.          “Pro Forma Basis”, “Pro Forma Compliance” and “Pro Forma Effect” means, for any transaction   or proposed transaction deemed to have occurred on and as of the first day of a Measurement Period   pursuant to Section 1.03(d), the following pro forma adjustments:                (a) (a) in the case of any such transaction or proposed transaction that is a Disposition, all   income statement items (whether positive or negative) attributable to property, line of business or the Person   subject to such Disposition shall be excluded from the results of the Company and its Subsidiaries for such   Measurement Period;                (b) (b) in the case of any such transaction or proposed transaction that is an Investment,   income statement items (whether positive or negative) attributable to property, line of business or the Person   subject to such Investment shall be included in the results of the Company and its Subsidiaries for such  Measurement Period;                (c) (c) in the case of any retirement of Indebtedness or any Indebtedness that was or is to   be repaid or refinanced in such transaction or proposed transaction, interest accrued on such Indebtedness   during such Measurement Period shall be excluded from the results of the Company and its Subsidiaries   for such Measurement Period (and to the extent not already excluded pursuant to any other clause of this   definition or pursuant to Section 1.03(d), the principal amount of such Indebtedness shall also be excluded);   and                (d) (d) in the case of the incurrence or assumption of any Indebtedness in such transaction   or proposed transaction, interest shall be deemed to have accrued on such Indebtedness during such   Measurement Period (in the case of interest that accrues at a formula or floating rate, at the rate in effect at   the time of determination) and shall be included in the results of the Company and its Subsidiaries for such   Measurement Period.          “PTE” means a prohibited transaction class exemption issued by the U.S. Department of Labor, as   any such exemption may be amended from time to time.                                               25 

 

         “Public Lender” has the meaning specified in Section 6.02.         “Rate Determination Date” means two (2) Business Days prior to the commencement of such  Interest Period (or such other Business Day as is generally treated as the rate fixing day by market practice  in such interbank market, as determined by the Administrative Agent; provided that to the extent such  market practice is not administratively feasible for the Administrative Agent, such other Business Day as  otherwise reasonably determined by the Administrative Agent).         “Recipient” means the Administrative Agent, any Lender, any L/C Issuer or any other recipient of  any payment to be made by or on account of any obligation of any Loan Party hereunder.         “Register” has the meaning specified in Section 11.06(c).         “Related Parties” means, with respect to any Person, such Person’s Affiliates and the partners,  directors, officers, employees, agents, trustees, administrators, managers, and advisors of such Person and  of such Person’s Affiliates.          “Removal Effective Date” has the meaning specified in Section 9.06(b).          “Reportable Event” means any of the events set forth in Section 4043(c) of ERISA, other than  events for which the 30 day notice period has been waived.         “Request for Credit Extension” means (a) with respect to a Borrowing, conversion or continuation  of Committed Loans, a Committed Loan Notice, (b) with respect to an L/C Credit Extension, a Letter of  Credit Application, and (c) with respect to a Swing Line Loan, a Swing Line Loan Notice.         “Required Lenders” means, at any time, Lenders having Total Credit Exposures representing more  than 50% of the Total Credit Exposures of all Lenders.  The Total Credit Exposure of any Defaulting Lender  shall be disregarded in determining Required Lenders at any time; provided that, the amount of any  participation in any Swing Line Loan and Unreimbursed Amounts that such Defaulting Lender has failed  to fund that have not been reallocated to and funded by another Lender shall be deemed to be held by the  Lender that is the applicable Swing Line Lender or applicable L/C Issuer, as the case may be, in making  such determination.         “Required Tranche 1 Lenders” means, at any time, Tranche 1 Lenders having Total Tranche 1  Credit Exposures representing more than 50% of the Total Tranche 1 Credit Exposures of all Tranche 1  Lenders. The Total Tranche 1 Credit Exposure of any Defaulting Lender shall be disregarded in determining  Required Tranche 1 Lenders at any time; provided that, the amount of any participation in any Swing Line  Loan and Unreimbursed Amounts that such Defaulting Lender has failed to fund that have not been  reallocated to and funded by another Tranche 1 Lender shall be deemed to be held by the Tranche 1 Lender  that is the applicable Swing Line Lender or applicable L/C Issuer, as the case may be, in making such  determination.         “Required Tranche 2 Lenders” means, at any time, Tranche 2 Lenders having Total Tranche 2  Credit Exposures representing more than 50% of the Total Tranche 2 Credit Exposures of all Tranche 2  Lenders. The Total Tranche 2 Credit Exposure of any Defaulting Lender shall be disregarded in determining  Required Tranche 2 Lenders at any time.          “Resignation Effective Date” has the meaning specified in Section 9.06(a).                                             26 

 

           “Resolution Authority” means an EEA Resolution Authority or, with respect to any UK Financial   Institution, a UK Resolution Authority.          “Responsible Officer” means (a) the chief executive officer, president, chief financial officer,   senior executive vice president, executive vice president, senior vice president, vice president – treasury,   treasurer, assistant treasurer or controller of a Loan Party, (b) solely for purposes of the delivery of   incumbency certificates (or other certificates of Foreign Obligors evidencing the identity, authority and   capacity of each Responsible Officer) pursuant to Section 4.01, the secretary or any assistant secretary of a   Loan Party (or, for a Loan Party organized in any non-US jurisdiction, any equivalent of the foregoing,  including any director thereof), and with respect to each Foreign Obligor organized in a foreign jurisdiction  in which directors are generally authorized under applicable Law to execute agreements, a director thereof,  and (c) solely for purposes of notices given pursuant to Article II, any other officer or employee of the   applicable Loan Party so designated by any of the foregoing officers in a notice to the Administrative Agent   or any other officer or employee of the applicable Loan Party designated in or pursuant to an agreement   between the applicable Loan Party and the Administrative Agent.  Any document delivered hereunder that   is signed by a Responsible Officer of a Loan Party shall be conclusively presumed to have been authorized   by all necessary corporate, partnership and/or other action on the part of such Loan Party and such   Responsible Officer shall be conclusively presumed to have acted on behalf of such Loan Party.          “Restricted Payment” means, for any Person, any dividend or other distribution (whether in cash,   securities or other property) with respect to any capital stock or other Equity Interest of such Person, or any   payment (whether in cash, securities or other property), including any sinking fund or similar deposit, on   account of the purchase, redemption, retirement, acquisition, cancellation or termination of any such capital   stock or other Equity Interest, or on account of any return of capital to such Person’s stockholders, partners   or members (or the equivalent Person thereof).          “Revaluation Date” means (a) with respect to any Loan, each of the following:  (i) each date of a   Borrowing of a Eurocurrency Rate Loan denominated in an Alternative Currency, (ii) each date of a   continuation of a Eurocurrency Rate Loan denominated in an Alternative Currency pursuant to Section   2.02, and (iii) such additional dates as the Administrative Agent shall determine or (in respect of any   Tranche 1 Loans) the Required Tranche 1 Lenders shall require or (in respect of any Tranche 2 Loans) the   Required Tranche 2 Lenders shall require; and (b) with respect to any Letter of Credit, each of the following:    (i) each date of issuance of a Letter of Credit denominated in an Alternative Currency, (ii) each date on   which a Letter of Credit is automatically extended pursuant to Section 2.03(b)(iii), (iii) each date of an   amendment of any such Letter of Credit having the effect of increasing the amount thereof (solely with   respect to the increased amount), (iv) each date of any payment by the applicable L/C Issuer under any   Letter of Credit denominated in an Alternative Currency, (v) in the case of all Existing Letters of Credit   denominated in Alternative Currencies, the Closing Date, and (vi) such additional dates as the   Administrative Agent or the applicable L/C Issuer shall determine or the Required Lenders shall require.            “Revolving Credit Exposure” means, (i) as to any Tranche 1 Lender at any time, the aggregate   Outstanding Amount at such time of its Tranche 1 Loans and the aggregate Outstanding Amount of such   Lender’s participation in L/C Obligations and Swing Line Loans at such time, and (ii) as to any Tranche 2   Lender at any time, the aggregate Outstanding Amount at such time of its Tranche 2 Loans.          “S&P” means Standard & Poor’s Financial Services LLC, a subsidiary of S&P Global, Inc. and   any successor thereto.          “Same Day Funds” means (a) with respect to disbursements and payments in Dollars, immediately   available funds, and (b) with respect to disbursements and payments in an Alternative Currency, same day                                               27 

 

    or other funds as may be determined by the Administrative Agent or the applicable L/C Issuer, as the case  may be, to be customary in the place of disbursement or payment for the settlement of international banking  transactions in the relevant Alternative Currency.          “Sanction(s)” means any international economic sanction imposed, administered or enforced by   the United States Government (including without limitation, OFAC), the United Nations Security Council,   the European Union, Her Majesty’s Treasury or other relevant sanctions authority.           “Scripps” means Scripps Networks Interactive, Inc., an Ohio corporation and any successor in   interest thereto.          “Scripps Acquired Business” means Scripps and its subsidiaries.          “Scripps Acquisition” means the acquisition by the Facility Guarantor, directly or indirectly, of the   Scripps Acquired Business pursuant to the Scripps Acquisition Agreement.          “Scripps Acquisition Agreement” means that certain Agreement and Plan of Merger among   Scripps, the Facility Guarantor and Skylight Merger Sub, Inc., dated as of July 30, 2017.          “Scripps Acquisition Bonds” means senior unsecured debt securities of the Company and/or the   Facility Guarantor (including debt securities convertible into equity) in an aggregate principal amount not   to exceed $6,800,000,000, the proceeds of which are to be used to pay a portion of the cash consideration   for the Scripps Acquisition, refinance Indebtedness of the Scripps Acquired Business and for the payment   of fees and expenses incurred in connection therewith and with the Scripps Transactions.          “Scripps Acquisition Closing Date” means the date on which the Scripps Acquisition is   consummated pursuant to the Scripps Acquisition Agreement.          “Scripps Acquisition Credit Agreement” means that certain credit agreement, dated as of August   11, 2017, among the Company, the Facility Guarantor, the lenders party thereto, and Goldman Sachs Bank   USA, as administrative agent, providing for term loans in an initial aggregate principal amount not to exceed   $2,000,000,000, the proceeds of which are to be used to pay a portion of the cash consideration for the   Scripps Acquisition, refinance certain Indebtedness of the Scripps Acquired Business and the payment of  fees and expenses incurred in connection therewith and with the Scripps Transactions, as amended, restated,  replaced, waived or otherwise modified from time to time.          “Scripps Transactions” means, collectively, any and all of the following (whether or not   consummated):  (i) the Scripps Acquisition, (ii) the entry into the Scripps Acquisition Agreement and all   the transactions thereunder, (iii) the entry into the Scripps Acquisition Credit Agreement and the initial   incurrence of Indebtedness hereunder, (iv) the refinancing in full of the outstanding principal amount of all   Indebtedness under that certain Five-Year Competitive Advance and Revolving Credit Facility Agreement,   dated as of March 31, 2014, among Scripps, as borrower, the several banks and other financial institutions   or entities from time to time party thereto and JPMorgan Chase Bank, N.A., as administrative agent and the   termination of such agreement, (v) the issuance of the Scripps Acquisition Bonds, or the incurrence of loans   under the Bridge Facility in lieu of the Scripps Acquisition Bonds, and the incurrence of the Indebtedness   thereunder, (vi) the assumption of Indebtedness in respect of the Existing Scripps Notes and (vii) all other   transactions relating to any of the foregoing (including payment of fees and expenses related to any of the   foregoing).                                                 28 

 

           “SEC” means the Securities and Exchange Commission, or any Governmental Authority   succeeding to any of its principal functions.           “Securities Act” means the Securities Act of 1933, as amended from time to time.          “Significant Shareholder” means each of (a) Advance/Newhouse Programming Partnership, (b) the   Facility Guarantor or any of its Subsidiaries, and (c) any other Person if 50% or more of the equity securities   of such Person entitled to vote for members of the board of directors or equivalent governing body of such   Person on a fully-diluted basis (and taking into account any option rights) is “beneficially owned” (as   defined in Rules 13d-3 and 13d-5 under the Securities and Exchange Act of 1934), directly or indirectly,  by Advance/Newhouse Programming Partnership or the Facility Guarantor or one of its Subsidiaries or any  combination thereof.          “Significant Subsidiary” means, as of any date of determination, each direct or indirect Subsidiary   of the Company that either (i) has assets as of such date the book value of which is equal to 5% or more of   the consolidated total assets as of the last day of the four fiscal quarter period of the Company most recently   ended for which financial information is available or (ii) had revenues in such four fiscal quarter period  equal to 5% or more of the consolidated total revenues of the Company and its Subsidiaries.  For the purpose   of the foregoing calculations, the assets and revenues of a Subsidiary shall be deemed to include the assets   and revenues of its Subsidiaries.          “Spanish Borrower” means a Designated Borrower that is organized, incorporated or formed under   the laws of Spain.          “Special Notice Currency” means at any time an Alternative Currency, other than the currency of   a country that is a member of the Organization for Economic Cooperation and Development at such time   located in North America or Europe.          “Specified Transaction” means (a) any Investment or series of related Investments in Equity   Interests or assets constituting a line of business of a Person or Persons made by the Company or any of its   Subsidiaries and permitted pursuant to Section 7.02(e) or (f) in an amount in excess of $100,000,000 made   during any Measurement Period in which the aggregate amount of all Investments made by the Company   and its Subsidiaries and permitted pursuant to Section 7.02(e) or (f) exceeds (or would exceed)   $300,000,000, and (b) any Disposition or series of related Dispositions of Equity Interests or assets   constituting a line of business of a Person or Persons made by the Company or any of its Subsidiaries and   permitted pursuant to Section 7.05(f) or (g) in an amount in excess of $100,000,000 made during any   Measurement Period in which aggregate amount of all Dispositions made by the Company and its   Subsidiaries and permitted pursuant to Section 7.05(f) and (g) exceeds (or would exceed) $300,000,000.          “Spot Rate” for a currency means: the rate determined by the Administrative Agent or an L/C   Issuer, as applicable, to be the rate quoted by the Person acting in such capacity as the spot rate for the   purchase by such Person of such currency with another currency through its principal foreign exchange   trading office at approximately 11:00 a.m. on the date two Business Days prior to the date as of which the   foreign exchange computation is made; provided that the Administrative Agent or such L/C Issuer may   obtain such spot rate from another financial institution designated by the Administrative Agent or such L/C   Issuer if the Person acting in such capacity does not have as of the date of determination a spot buying rate   for any such currency; and, provided further that such L/C Issuer may use such spot rate quoted on the date   as of which the foreign exchange computation is made in the case of any Letter of Credit denominated in   an Alternative Currency.                                                29 

 

           “Sterling” and “£” mean the lawful currency of the United Kingdom.          “Subsidiary” of a Person means a corporation, partnership, joint venture, limited liability company   or other business entity of which a majority of the shares of securities or other interests having ordinary   voting power for the election of directors or other governing body (other than securities or interests having   such power only by reason of the happening of a contingency) are at the time beneficially owned, or the   management of which is otherwise controlled, directly, or indirectly through one or more intermediaries,   or both, by such Person.  Unless otherwise specified, all references herein to a “Subsidiary” or to   “Subsidiaries” shall refer to a Subsidiary or Subsidiaries of the Facility Guarantor.  All references herein to   a “wholly-owned Subsidiary” of a Person means a corporation, partnership, joint venture, limited liability   company or other business entity of which all of the shares of securities or other interests having ordinary   voting power for the election of directors or other governing body (other than securities or interests having   such power only by reason of the happening of a contingency) are at the time beneficially owned, directly,   or indirectly through one or more intermediaries, or both, by such Person, other than, to the extent required   by the applicable laws of the jurisdiction of organization of such entity (a) any such shares that are required   by such laws to be owned by the government of such jurisdiction or individuals or corporate citizens of   such jurisdiction in order for such entity to transact business in such jurisdiction and (b) directors qualifying   shares.  Notwithstanding anything to the contrary in the immediately preceding sentence, for all purposes  of this Agreement, (x) Animal Planet, LP, a Delaware limited partnership, shall be deemed to be a wholly- owned Subsidiary of the Company if, and so long as, its Equity Interests are beneficially owned (i) at least  85% either directly by the Company or indirectly by the Company through one or more Subsidiaries of the  Company and (ii) the remainder, if any, either directly by the Facility Guarantor or indirectly by the Facility  Guarantor through one or more other Subsidiaries of the Facility Guarantor and (y) if, following the Scripps  Acquisition, Scripps and the Scripps Acquired Business (or any portion thereof) are Subsidiaries of the  Facility Guarantor but not Subsidiaries of the Company, Scripps and the Scripps Acquired Business (or  such portion thereof) shall be treated as if they were Subsidiaries (and, subject to the immediately preceding   sentence, wholly-owned Subsidiaries) of the Company for all purposes (including for purposes of Section   7.11) under this Agreement.           “Subsidiary Guarantor” has the meaning specified in Section 10.01.          “Swap Contract” means (a) any and all rate swap transactions, basis swaps, credit derivative   transactions, forward rate transactions, commodity swaps, commodity options, forward commodity   contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or   forward bond or forward bond price or forward bond index transactions, interest rate options, forward   foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap   transactions, cross-currency rate swap transactions, currency options, spot contracts, or any other similar   transactions or any combination of any of the foregoing (including any options to enter into any of the   foregoing), whether or not any such transaction is governed by or subject to any master agreement, and (b)   any and all transactions of any kind, and the related confirmations, which are subject to the terms and   conditions of, or governed by, any form of master agreement published by the International Swaps and   Derivatives Association, Inc., any International Foreign Exchange Master Agreement, or any other master   agreement (any such master agreement, together with any related schedules, a “Master Agreement”),   including any such obligations or liabilities under any Master Agreement.          “Swap Termination Value” means, in respect of any one or more Swap Contracts, after taking into   account the effect of any legally enforceable netting agreement relating to such Swap Contracts, (a) for any   date on or after the date such Swap Contracts have been closed out and termination value(s) determined in   accordance therewith, such termination value(s), and (b) for any date prior to the date referenced in clause   (a), the amount(s) determined as the mark-to-market value(s) for such Swap Contracts, as determined based                                               30 

 

    upon one or more mid-market or other readily available quotations provided by any recognized dealer in  such Swap Contracts (which may include a Lender or any Affiliate of a Lender).          “Swing Line Borrowing” means a borrowing consisting of simultaneous Swing Line Loans in the   same currency made by a Swing Line Lender pursuant to Section 2.04.           “Swing Line Dollar Lender” means Bank of America in its capacity as provider of Swing Line   Loans in respect of the Swing Line Dollar Sublimit, and any successor swing line lender hereunder.          “Swing Line Dollar Sublimit” means an amount equal to the lesser of (a) $50,000,000 and (b) the   Aggregate Tranche 1 Commitments.  The Swing Line Sublimit is part of, and not in addition to, the   Aggregate Tranche 1 Commitments.          “Swing Line Euro Lender” means each of Bank of America and Citibank, N.A in their respective   capacities as a provider of Swing Line Loans in respect of the Swing Line Euro Sublimit, and any successor   swing line lender hereunder.           “Swing Line Euro Sublimit” means an amount denominated in Euros in a Dollar Equivalent amount   not to exceed the lesser of (a) $150,000,000 and (b) the Aggregate Tranche 1 Commitments.  The Swing   Line Euro Sublimit is part of, and not in addition to, the Aggregate Tranche 1 Commitments.          “Swing Line Lender” means, collectively, (a) the Swing Line Dollar Lender and (b) the Swing Line   Euro Lender.          “Swing Line Loan” has the meaning specified in Section 2.04(a).          “Swing Line Loan Notice” means a notice of a Swing Line Borrowing pursuant to Section 2.04(b),   which shall be substantially in the form of Exhibit B or such other form as approved by the Administrative   Agent (including any form on an electronic platform or electronic transmission system as shall be approve   by the Administrative Agent), appropriately completed and signed by a Responsible Officer of the   Company.           “Swing Line Sublimit” means an amount equal to the lesser of (a) the sum of (i) the Swing Line   Dollar Sublimit and (ii) the Swing Line Euro Sublimit and (b) the Aggregate Tranche 1 Commitments.  The   Swing Line Sublimit is part of, and not in addition to, the Aggregate Tranche 1 Commitments.          “Synthetic Lease Obligation” means the monetary obligation of a Person under (a) a so-called   synthetic, off-balance sheet or tax retention lease, or (b) an agreement for the use or possession of property   creating obligations that do not appear on the balance sheet of such Person but which, upon the insolvency   or bankruptcy of such Person, would be characterized as the indebtedness of such Person (without regard   to accounting treatment).          “TARGET2” means the Trans-European Automated Real-time Gross Settlement Express   Transfer payment system which utilizes a single shared platform and which was launched on November   19, 2007.          “TARGET Day” means any day on which TARGET2 (or, if such payment system ceases to be   operative, such other payment system, if any, determined by the Administrative Agent to be a suitable   replacement) is open for the settlement of payments in Euro.                                                31 

 

         “Tax Deduction” means a deduction or withholding for or on account of Tax from a payment under  a Loan Document.         “Taxes” means all present or future taxes, levies, imposts, duties, deductions, withholdings  (including backup withholding), assessments, fees or other charges in the nature of a tax imposed by any  Governmental Authority, including any interest, additions to tax or penalties applicable thereto.           “Threshold Amount” means $100,000,000.         “Total Credit Exposure” means, as to any Lender, at any time, the unused Commitments and  Revolving Credit Exposure of such Lender at such time.         “Total Tranche 1 Credit Exposure” means, as to any Tranche 1 Lender at any time, the unused  Tranche 1 Commitments and Revolving Credit Exposure of such Tranche 1 Lender at such time.         “Total Tranche 1 Outstandings” means the aggregate Outstanding Amount of all Tranche 1 Loans,  all Swing Line Loans and all L/C Obligations.         “Total Tranche 2 Credit Exposure” means, as to any Tranche 2 Lender at any time, the unused  Tranche 2 Commitments and Revolving Credit Exposure of such Tranche 2 Lender at such time.         “Total Tranche 2 Outstandings” means the aggregate Outstanding Amount of all Tranche 2 Loans.         “Tranche” means the Tranche 1 Commitments or the Tranche 2 Commitments, as the context  may require.         “Tranche 1” means the Tranche 1 Commitments.         “Tranche 1 Borrowing” means a borrowing consisting of simultaneous Tranche 1 Loans of the  same Type, in the same currency and, in the case of Eurocurrency Rate Loans, having the same Interest  Period made by each of the Tranche 1 Lenders pursuant to Section 2.01(a).         “Tranche 1 Commitment” means, as to each Tranche 1 Lender, its obligation to (a) make Tranche  1 Loans to the Borrowers pursuant to Section 2.01(a), (b) purchase participations in L/C Obligations, and  (c) purchase participations in Swing Line Loans, in an aggregate principal amount at any one time  outstanding not to exceed the Dollar amount set forth opposite such Tranche 1 Lender’s name on Schedule  2.01 or in the Assignment and Assumption pursuant to which such Tranche 1 Lender becomes a party  hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement.         “Tranche 1 Lender” means a Lender with a Tranche 1 Commitment, holding Tranche 1 Loans or  holding participations in any L/C Obligations or Swing Line Loans and, as the context requires, includes a  Tranche 1 Lender in its capacity as an L/C Issuer and (in the case of Bank of America) as Swing Line Dollar  Lender and Swing Line Lender and (in the case of each of Bank of America and Citibank, N.A.) as Swing  Line Euro Lender and Swing Line Lender.        “Tranche 1 Loan” has the meaning specified in Section 2.01(a).         “Tranche 2” means the Tranche 2 Commitments.                                              32 

 

        “Tranche 2 Borrowing” means a borrowing consisting of simultaneous Tranche 2 Loans of the  same Type, in the same currency and, in the case of Eurocurrency Rate Loans, having the same Interest  Period made by each of the Tranche 2 Lenders pursuant to Section 2.01(b).         “Tranche 2 Commitment” means, as to each Tranche 2 Lender, its obligation to make Tranche 2  Loans to the Borrowers pursuant to Section 2.01(b) in an aggregate principal amount at any one time  outstanding not to exceed the Dollar amount set forth opposite such Tranche 2 Lender’s name on  Schedule 2.01 or in the Assignment and Assumption pursuant to which such Tranche 2 Lender becomes a  party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this  Agreement.         “Tranche 2 Lender” means a Lender with a Tranche 2 Commitment or holding Tranche 2 Loans.         “Tranche 2 Loan” has the meaning specified in Section 2.01(b).         “Treaty Lender” means a Lender which:               (a) (a) is treated as a resident of a Treaty State for the purposes of a Treaty with the United  Kingdom or Spain; and               (b) (b) does not carry on a business in the United Kingdom or in Spain through a  permanent establishment with which that Lender's participation in the Loan is effectively connected.         “Treaty State” means a jurisdiction having a double taxation agreement (a “Treaty”) with the  United Kingdom or with Spain which makes provision for full exemption from tax, or a reduction in tax,  imposed by the United Kingdom or by Spain on interest.         “Type” means, with respect to a Committed Loan, its character as a Base Rate Loan or a  Eurocurrency Rate Loan.         “UCP” means, with respect to any Letter of Credit, the Uniform Customs and Practice for  Documentary Credits, International Chamber of Commerce (“ICC”) Publication No. 600 (or such later  version thereof as may be in effect at the time of issuance).         “United States” and “U.S.” mean the United States of America.         “Unreimbursed Amount” has the meaning specified in Section 2.03(c)(i).         “UK Financial Institution” means any BRRD Undertaking (as such term is defined under the PRA  Rulebook (as amended form time to time) promulgated by the United Kingdom Prudential Regulation  Authority) or any person subject to IFPRU 11.6 of the FCA Handbook (as amended from time to time)  promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions  and investment firms, and certain affiliates of such credit institutions or investment firms.         “UK Resolution Authority” means the Bank of England or any other public administrative authority  having responsibility for the resolution of any UK Financial Institution.         “U.S. Person” means any Person that is a “United States person” as defined in Section 7701(a)(30)  of the Code.         “U.S. Tax Compliance Certificate” has the meaning specified in Section 3.01(e)(ii)(B)(III).                                            33 

 

           “VAT” means any tax imposed in compliance with the Council Directive of 28 November 2006 on   the common system of value added tax (EC Directive 2006/112) and any other tax of a similar nature,   wherever imposed.           “Write-Down and Conversion Powers” means, (a) with respect to any EEA Resolution Authority,   the write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-  In Legislation for the applicable EEA Member Country, which write-down and conversion powers are   described in the EU Bail-In Legislation Schedule., and (b) with respect to the United Kingdom, any powers   of the applicable Resolution Authority under the Bail-In Legislation to cancel, reduce, modify or change   the form of a liability of any UK Financial Institution or any contract or instrument under which that liability   arises, to convert all or part of that liability into shares, securities or obligations of that person or any other   person, to provide that any such contract or instrument is to have effect as if a right had been exercised   under it or to suspend any obligation in respect of that liability or any of the powers under that Bail-In   Legislation that are related to or ancillary to any of those powers.          “Yen” and “¥” mean the lawful currency of Japan.          1.02  Other Interpretive Provisions.  With reference to this Agreement and each other Loan  Document, unless otherwise specified herein or in such other Loan Document          (a)   The definitions of terms herein shall apply equally to the singular and plural forms of the   terms defined.  Whenever the context may require, any pronoun shall include the corresponding masculine,   feminine and neuter forms.  The words “include,” “includes” and “including” shall be deemed to be   followed by the phrase “without limitation.”  The word “will” shall be construed to have the same meaning   and effect as the word “shall.”  Unless the context requires otherwise, (i) any definition of or reference to   any agreement, instrument or other document (including any Organization Document) shall be construed  as referring to such agreement, instrument or other document as from time to time amended, supplemented  or otherwise modified (subject to any restrictions on such amendments, supplements or modifications set  forth herein or in any other Loan Document), (ii) any reference herein to any Person shall be construed to  include such Person’s successors and assigns, (iii) the words “hereto,” “herein,” “hereof” and “hereunder,”   and words of similar import when used in any Loan Document, shall be construed to refer to such Loan   Document in its entirety and not to any particular provision thereof, (iv) all references in a Loan Document   to Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections of, and   Exhibits and Schedules to, the Loan Document in which such references appear, (v) any reference to any   law shall include all statutory and regulatory provisions consolidating, amending, replacing or interpreting   such law and any reference to any law or regulation shall, unless otherwise specified, refer to such law or   regulation as amended, modified or supplemented from time to time, (vi) the words “asset” and “property”   shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible   assets and properties, including cash, securities, accounts and contract rights and (vii) any reference to any   IRS form shall be construed to include any successor form.          (b)   In the computation of periods of time from a specified date to a later specified date, the  word “from” means “from and including;” the words “to” and “until” each mean “to but excluding;” and   the word “through” means “to and including.”          (c)   Section headings herein and in the other Loan Documents are included for convenience of  reference only and shall not affect the interpretation of this Agreement or any other Loan Document.                                                 34 

 

         (d)   Luxembourg provisions and English terms relating to Luxembourg Borrowers.  Without  prejudice to the generality of any provision of this Agreement, in this Agreement where it relates to a  Luxembourg Borrower, a reference to:               (i) (i) a winding-up, administration or dissolution includes, without limitation,        bankruptcy (faillite), insolvency, liquidation, composition with creditors (concordat préventif de la       faillite), moratorium or suspension of payments (sursis de paiement), controlled management       (gestion contrôlée), general settlement with creditors, reorganization or similar laws affecting the       rights of creditors generally;               (ii) (ii) a receiver, administrative receiver, administrator, trustee, custodian, sequestrator,        conservator or similar officer includes, without limitation, a juge délégué, commissaire, juge-       commissaire, mandataire ad hoc, administrateur provisoire, liquidateur or curateur;               (iii) (iii) a lien or security interest includes any hypothèque, nantissement, gage, privilège,        sûreté réelle, droit de rétention, and any type of security in rem (sûreté réelle) or agreement or        arrangement having a similar effect and any transfer of title by way of security;               (i)   (iv) creditors process means an executory attachment (saisie exécutoire) or a        conservatory attachment (saisie conservatoire);               (v) (v) a guarantee includes any guarantee which is independent from the debt to which it        relates as well as any suretyship (cautionnement) within the meaning of Articles 2011 et seq. of the        Luxembourg Civil Code; and               (ii) (vi) by-laws or constitutional documents includes its up-to-date (restated) articles        of association (statuts coordonnés).         (e)   Spanish provisions relating to the Spanish Borrower.         Without prejudice to the generality of any provision of this Agreement, in this Agreement where        it relates to the Spanish Borrower, a reference to:               (i) (i) a winding up, insolvency proceeding, dissolution or administration includes        disolución, liquidación, concurso and any other proceeding replacing them; and               (ii) (ii) a liquidator, trustee in bankruptcy, judicial custodian, compulsory manager,        receiver, administrator receiver, administrator or similar officer includes an administrador        concursal.               (i)   (f) If, following the Acquisition, Scripps and the Scripps Acquired Business (or        any portion thereof) are Subsidiaries of the Facility Guarantor but not Subsidiaries of the Company,        Scripps and the Scripps Acquired Business (or such portion thereof) shall be treated as if they were        Subsidiaries of the Company and, so long as Scripps or such Subsidiary is a wholly-owned        Subsidiary of the Facility Guarantor, wholly-owned Subsidiaries of the Company, in each case for        all purposes (including for purposes of Section 7.11) under this Agreement.         (f)   Any reference herein to a merger, consolidation, amalgamation, conveyance, assignment,  sale, disposition or transfer, or similar term, shall be deemed to apply to a division of or by a limited liability  company or a limited partnership, as applicable, or an allocation of assets to a series of a limited liability                                             35 

 

     company or a limited partnership, as applicable (or the unwinding of such a division or allocation), as if it   were a merger, consolidation, amalgamation, conveyance, assignment, sale, disposition or transfer, or   similar term, as applicable, to, of or with a separate Person. Any division of a limited liability company or   a limited partnership, as applicable, shall constitute a separate Person hereunder (and each division of any   limited liability company or any limited partnership, as applicable, that is a Subsidiary, joint venture or any   other like term shall also constitute such a Person or entity).          1.03  Accounting Terms.  (a)  (a) Generally.  All accounting terms not specifically or   completely defined herein shall be construed in conformity with, and all financial data (including financial   ratios and other financial calculations) required to be submitted pursuant to this Agreement shall be  prepared in conformity with, GAAP applied in a manner consistent with that used in preparing the Audited  Financial Statements, except as otherwise specifically prescribed herein.  Notwithstanding the foregoing,   for purposes of determining compliance with any covenant (including the computation of any financial   covenant) contained herein, Indebtedness of the Company and its Subsidiaries shall be deemed to be carried   at 100% of the outstanding principal amount thereof, and the effects of FASB ASC 825 and FASB ASC   470-20 on financial liabilities shall be disregarded.          (b)   Changes in GAAP.  If at any time any change in GAAP would affect the computation of   any financial ratio or requirement set forth in any Loan Document, and either the Company or the Required   Lenders shall so request, the Administrative Agent, the Lenders and the Company shall negotiate in good   faith to amend such ratio or requirement to preserve the original intent thereof in light of such change in   GAAP (subject to the approval of the Required Lenders); provided that, until so amended, (i) such ratio or   requirement shall continue to be computed in accordance with GAAP prior to such change therein and (ii)   the Company shall provide to the Administrative Agent and the Lenders financial statements and other   documents required under this Agreement or as reasonably requested hereunder setting forth a   reconciliation between calculations of such ratio or requirement made before and after giving effect to such   change in GAAP.  Without limiting the foregoing, leases shall continue to be classified and accounted for   on a basis consistent with that reflected in the Audited Financial Statements for all purposes of this   Agreement, notwithstanding any change in GAAP relating thereto, unless the parties hereto shall enter into  a mutually acceptable amendment addressing such changes, as provided for above.          (c)   Consolidation of Variable Interest Entities.  All references herein to consolidated financial   statements of the Facility Guarantor and its Subsidiaries or to the determination of any amount for the   Facility Guarantor and its Subsidiaries on a consolidated basis or any similar reference shall, in each case,   be deemed to include each variable interest entity that the Facility Guarantor is required to consolidate   pursuant to FASB ASC 810 as if such variable interest entity were a Subsidiary as defined herein.          (d)   Pro Forma Determinations.  Notwithstanding anything in this Agreement to the contrary:                (i)   (i)                     if on any date of determination pro forma         compliance with the requirements of this Agreement is a condition precedent to the consummation         of a proposed transaction pursuant to any provision of this Agreement, then for that purpose such         compliance shall be determined on a Pro Forma Basis giving effect to (A) such proposed transaction         and (B) without duplication, any Specified Transaction that has been consummated during the         Measurement Period then most recently ended for which financial statements have been delivered         pursuant to Section 6.01 or during the period following such Measurement Period and prior to such         date, in each case, as of the first day of such Measurement Period, provided that, for the avoidance         of doubt, where compliance with the terms of this Agreement on a Pro Forma Basis is required         with respect to Section 7.11, the financial covenants contained therein shall be tested on a Pro         Forma Basis on the applicable date of determination;                                               36 

 

                 (ii) (ii)  for each Specified Transaction that is consummated during any         Measurement Period, compliance with the requirements of this Agreement shall be determined on         a Pro Forma Basis giving effect to such Specified Transaction as of the first day of such         Measurement Period; and                (iii) (iii) for the purpose of calculating Consolidated EBITDA, Consolidated         Interest Charges and Consolidated Net Income for any Measurement Period, if during such period         the Company or any Subsidiary shall have made a significant acquisition or significant disposition         (including for the avoidance of doubt the Scripps Acquisition, and with significance otherwise         calculated in accordance with Article 11 of Regulation S-X under the Securities Act), each of         Consolidated EBITDA, Consolidated Interest Charges and Consolidated Net Income shall be         calculated giving Pro Forma Effect thereto as if such significant acquisition or disposition occurred         on the first day of such period.          1.04  Rounding.  Any financial ratios required to be maintained by the Company pursuant to  this Agreement shall be calculated by dividing the appropriate component by the other component, carrying  the result to one place more than the number of places by which such ratio is expressed herein and rounding  the result up or down to the nearest number (with a rounding-up if there is no nearest number).          1.05  Exchange Rates; Currency Equivalents.  (a) (a) The Administrative Agent or the   applicable L/C Issuer, as applicable, shall determine the Spot Rates as of each Revaluation Date to be used   for calculating Dollar Equivalent amounts of Credit Extensions and Outstanding Amounts denominated in   Alternative Currencies.  Such Spot Rates shall become effective as of such Revaluation Date and shall be   the Spot Rates employed in converting any amounts between the applicable currencies until the next   Revaluation Date to occur.  Except for purposes of financial statements delivered by the Loan Parties   hereunder or calculating financial covenants hereunder or except as otherwise provided herein, the   applicable amount of any currency (other than Dollars) for purposes of the Loan Documents shall be such   Dollar Equivalent amount as so determined by the Administrative Agent or the applicable L/C Issuer, as   applicable.          (b)   Wherever in this Agreement in connection with a Committed Borrowing, conversion,  continuation or prepayment of a Eurocurrency Rate Loan or the issuance, amendment or extension of a  Letter of Credit, an amount, such as a required minimum or multiple amount, is expressed in Dollars, but  such Committed Borrowing, Eurocurrency Rate Loan or Letter of Credit is denominated in an Alternative  Currency, such amount shall be the relevant Alternative Currency Equivalent of such Dollar amount  (rounded to the nearest unit of such Alternative Currency, with 0.5 of a unit being rounded upward), as  determined by the Administrative Agent or the applicable L/C Issuer, as the case may be.          (c)   The Administrative Agent does not warrant, nor accept responsibility, nor shall the  Administrative Agent have any liability with respect to the administration, submission or any other matter  related to the rates in the definition of “Eurocurrency Rate” or with respect to any comparable or successor  rate thereto.          1.06  Additional Alternative Currencies.  (a) (a) The Company may from time to time request   that Eurocurrency Rate Loans under either Tranche be made and/or Letters of Credit be issued in a currency   other than those specifically listed in the definition of “Alternative Currency”; provided that such requested   currency is a lawful currency (other than Dollars) that is readily available and freely transferable and  convertible into Dollars.  In the case of any such request with respect to the making of Eurocurrency Rate  Loans, such request shall be subject to the approval of the Administrative Agent and the Lenders; and in                                                37 

 

    the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject  to the approval of the Administrative Agent and the applicable L/C Issuer.         (b)   Any such request shall be made to the Administrative Agent not later than 11:00 a.m., 20  Business Days prior to the date of the desired Credit Extension (or such other time or date as may be agreed  by the Administrative Agent and, in the case of any such request pertaining to Letters of Credit, the  applicable L/C Issuer, in its or their sole discretion).  In the case of any such request pertaining to  Eurocurrency Rate Loans, the Administrative Agent shall promptly notify each Lender thereof; and in the  case of any such request pertaining to Letters of Credit, the Administrative Agent shall promptly notify  each L/C Issuer thereof.  Each Lender (in the case of any such request pertaining to Eurocurrency Rate  Loans) or each L/C Issuer (in the case of a request pertaining to Letters of Credit) shall notify the  Administrative Agent, not later than 11:00 a.m., ten Business Days after receipt of such request whether it  consents, in its sole discretion, to the making of Eurocurrency Rate Loans or the issuance of Letters of  Credit, as the case may be, in such requested currency.          (c)   Any failure by a Lender or the applicable L/C Issuer, as the case may be, to respond to such  request within the time period specified in the last sentence of Section 1.06(b) shall be deemed to be a   refusal by such Lender or such L/C Issuer, as the case may be, to permit Eurocurrency Rate Loans to be   made or Letters of Credit to be issued in such requested currency.  If (i) with respect to Tranche 1, the   Administrative Agent and all the Tranche 1 Lenders consent to making Eurocurrency Rate Loans in such   requested currency and (ii) with respect to Tranche 2, the Administrative Agent and all the Tranche 2   Lenders consent to making Eurocurrency Rate Loans in such requested currency, the Administrative Agent   shall so notify the Company and such currency shall thereupon be deemed for all purposes to be an   Alternative Currency hereunder for purposes of any Committed Borrowings of Eurocurrency Rate Loans   with respect to the respective Tranche; and if the Administrative Agent and all the L/C Issuers consent to   the issuance of Letters of Credit in such requested currency, the Administrative Agent shall so notify the   Company and such currency shall thereupon be deemed for all purposes to be an Alternative Currency   hereunder for purposes of any Letter of Credit issuances. If the Administrative Agent shall fail to obtain  consent to any request for an additional currency under this Section 1.06, the Administrative Agent shall   promptly so notify the Company.          1.07  Change of Currency.  (a) Each obligation of the Borrowers to make a payment  denominated in the national currency unit of any member state of the European Union that adopts the Euro  as its lawful currency after the date hereof shall be redenominated into Euro at the time of such adoption.   If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this  Agreement in respect of that currency shall be inconsistent with any convention or practice in the London  interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be  replaced by such convention or practice with effect from the date on which such member state adopts the  Euro as its lawful currency; provided that if any Committed Borrowing in the currency of such member   state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such   Committed Borrowing, at the end of the then current Interest Period.          (b)   Each provision of this Agreement shall be subject to such reasonable changes of  construction as the Administrative Agent may from time to time specify to be appropriate to reflect the  adoption of the Euro by any member state of the European Union and any relevant market conventions or  practices relating to the Euro.          (c)   Each provision of this Agreement also shall be subject to such reasonable changes of  construction as the Administrative Agent may from time to time specify to be appropriate to reflect a change                                                38 

 

    in currency of any other country and any relevant market conventions or practices relating to the change in  currency.         1.08  Times of Day.  Unless otherwise specified, all references herein to times of day shall be  references to Eastern time (daylight or standard, as applicable).         1.09  Letter of Credit Amounts.  Unless otherwise specified herein, the amount of a Letter of  Credit at any time shall be deemed to be the Dollar Equivalent of the stated amount of such Letter of Credit  in effect at such time; provided, however, that with respect to any Letter of Credit that, by its terms or the  terms of any Issuer Document related thereto, provides for one or more automatic increases in the stated  amount thereof, the amount of such Letter of Credit shall, for all purposes other than calculating Letter of  Credit Fees and fronting fees, be deemed to be the Dollar Equivalent of the maximum stated amount of  such Letter of Credit after giving effect to all such increases, whether or not such maximum stated amount  is in effect at such time.         1.10  Amendment and Restatement.  In order to facilitate the amendment and restatement  contemplated by this Agreement and otherwise to effectuate the desires of the Loan Parties, the  Administrative Agent and the Lenders:          (a)   Simultaneously with the Closing Date, but immediately prior to giving effect to Section   1.10(d), the parties hereby agree that the Commitments and Applicable Percentages (as defined in the   Existing Credit Agreement) of each of the Lenders shall be as set forth on Schedule 2.01, and (i) the   Outstanding Amounts of each Lender’s Committed Loans (as defined in the Existing Credit Agreement)   and (ii) the aggregate Outstanding Amount of each Tranche 1 Lender’s participation in L/C Obligations   and Swing Line Loans shall, in each case, be reallocated as outstanding Committed Loans hereunder in   accordance with such Commitments and outstanding participations in L/C Obligations and Swing Line   Loans hereunder in accordance with such Commitments, as applicable, and the requisite assignments shall   be deemed to be made in such amounts from (A) each Tranche 1 Lender to each other Tranche 1 Lender   and (B) each Tranche 2 Lender to each other Tranche 2 Lender (and, if necessary, to (x) Tranche 1 Lenders   hereunder from Tranche 1 Lenders under, and as defined in, the Existing Credit Agreement and (y) Tranche   2 Lenders hereunder from Tranche 2 Lenders under, and as defined in, the Existing Credit Agreement, in   each case, who elect not to become Tranche 1 Lenders or Tranche 2 Lenders, as applicable, under this   Agreement or who reduce their commitments in connection with this Agreement), with the same force and   effect as if such assignments were evidenced by applicable Assignments and Assumptions (as defined in   the Existing Credit Agreement) under the Existing Credit Agreement, but without the payment of any   related assignment fee; provided that the Existing Lenders who are Lenders under this Agreement hereby   waive any notice requirements pursuant to Section 2.05 of the Existing Credit Agreement in connection   with any prepayment that may occur or may be deemed to occur thereunder in connection with this Section   1.10(a).  For the avoidance of doubt, simultaneously with the Closing Date, the parties hereby agree that   each Swing Line Loan outstanding under, and as defined in, the Existing Credit Agreement as of such date   shall continue as a Swing Line Loan hereunder and each “Letter of Credit” outstanding under, and as   defined in, the Existing Credit Agreement as of such date and identified as an “Existing Letter of Credit”   hereunder shall continue as a Letter of Credit hereunder.          (b)   Notwithstanding anything to the contrary in the Existing Credit Agreement or in this  Agreement, no other documents or instruments, including any Assignment and Assumption, shall be, or  shall be required to be, executed in connection with the assignments set forth in Section 1.10(a) above (all   of which requirements are hereby waived), and such assignments shall be deemed to be made with all   applicable representations, warranties and covenants as if evidenced by an Assignment and Assumption.    On the Closing Date, the applicable Lenders shall make full cash settlement with one another either directly                                               39 

 

     or through the Administrative Agent, as the Administrative Agent may direct or approve, with respect to   all assignments, reallocations and other changes in Commitments and the portion of the Outstanding   Amount of the Committed Loans allocable to each Lender, such that after giving effect to such settlements   the Commitment of, and Outstanding Amount of Committed Loans and aggregate Outstanding Amount of   participation in L/C Obligations and Swing Line Loans, if any, owing to, each Lender shall be as set forth   on Schedule 2.01.          (c)   The Loan Parties, the Administrative Agent and the Lenders hereby agree that upon the  effectiveness of this Agreement, the terms and provisions of the Existing Credit Agreement which in any  manner govern or evidence the obligations arising hereunder, the rights and interests of the Administrative  Agent and the Lenders and any terms, conditions or matters related to any thereof, shall be and hereby are  amended and restated in their entirety by the terms, conditions and provisions of this Agreement, and the  terms and provisions of the Existing Credit Agreement, except as otherwise expressly provided herein, shall  be superseded by this Agreement.          (d)   Notwithstanding this amendment and restatement of the Existing Credit Agreement,  including anything in this Section 1.10, and of any related “Loan Document” (as such term is defined in the   Existing Credit Agreement and referred to herein, individually or collectively, as the “Existing Loan   Documents”), (i) all of the indebtedness, liabilities and obligations owing by the Borrowers or any other   Person under the Existing Credit Agreement and other Existing Loan Documents shall continue as   Obligations hereunder and thereunder (including, without limitation, all accrued and unpaid interest and   fees under the Existing Credit Agreement) and (ii) this Agreement is given as a substitution of, and not as   a payment of, the indebtedness, liabilities and obligations of the Borrowers or the other Loan Parties under   the Existing Credit Agreement or any Existing Loan Document, and neither the execution and delivery of   this Agreement nor the consummation of any other transaction contemplated hereunder is intended to   constitute a novation of the Existing Credit Agreement or of any of the other Existing Loan Documents or   any obligations thereunder.  Upon the effectiveness of this Agreement all Loans outstanding and owing by   the Borrowers under the Existing Credit Agreement as of the Closing Date shall continue as Loans   hereunder.  Each Lender party hereto that is a lender under the Existing Credit Agreement shall be deemed   to have waived the requirement for payment by the Borrowers of any amounts required pursuant to Section   3.05 of the Existing Credit Agreement as a result of any reallocation or deemed assignments in connection   the entering into of this Agreement.                                     ARTICLE II.                    THE COMMITMENTS AND CREDIT EXTENSIONS         2.01  Committed Loans.          (a)   Subject to the terms and conditions set forth herein (including Section 2.14), each Tranche   1 Lender severally agrees to make loans (each such loan, a “Tranche 1 Loan”) to the Company and to any   other Borrowers designated to receive Tranche 1 Loans hereunder, in Dollars or in one or more Alternative   Currencies from time to time, on any Business Day during the Availability Period, in an aggregate amount   not to exceed at any time outstanding the amount of such Tranche 1 Lender’s Tranche 1 Commitment;   provided, however, that after giving effect to any Tranche 1 Borrowing, (i) the Total Tranche 1   Outstandings shall not exceed the Aggregate Tranche 1 Commitments and (ii) the Revolving Credit   Exposure of any Tranche 1 Lender shall not exceed such Tranche 1 Lender’s Tranche 1 Commitment.    Within the limits of each Tranche 1 Lender’s Commitment, and subject to the other terms and conditions   hereof, the applicable Borrowers may borrow under this Section 2.01(a), prepay under Section 2.05, and   reborrow under this Section 2.01(a).  Tranche 1 Loans may be Base Rate Loans or Eurocurrency Rate                                                40 

 

     Loans, as further provided herein.  The Borrowers designated to receive Tranche 1 Loans as of the Closing   Date are set forth on Schedule 2.01A.          (b)   Subject to the terms and conditions set forth herein (including Section 2.14), each Tranche   2 Lender severally agrees to make loans (each such loan, a “Tranche 2 Loan”) to the Company and any   other Borrowers designated to receive Tranche 2 Loans hereunder, in Dollars or in one or more Alternative   Currencies from time to time, on any Business Day during the Availability Period, in an aggregate amount   not to exceed at any time outstanding the amount of such Tranche 2 Lender’s Tranche 2 Commitment;   provided, however, that after giving effect to any Tranche 2 Borrowing, (i) the Total Tranche 2   Outstandings shall not exceed the Aggregate Tranche 2 Commitments and (ii) the Revolving Credit   Exposure of any Tranche 2 Lender shall not exceed such Tranche 2 Lender’s Tranche 2 Commitment.    Within the limits of each Tranche 2 Lender’s Tranche 2 Commitment, and subject to the other terms and   conditions hereof, the applicable Borrowers may borrow under this Section 2.01(b), prepay under Section   2.05, and reborrow under this Section 2.01(b).  Tranche 2 Loans may be Base Rate Loans or Eurocurrency   Rate Loans, as further provided herein.  The Borrowers designated to receive Tranche 2 Loans as of the   Closing Date are set forth on Schedule 2.01B.          2.02  Borrowings, Conversions and Continuations of Committed Loans.          (a)   Each Committed Borrowing, each conversion of Committed Loans from one Type to the  other, and each continuation of Eurocurrency Rate Loans shall be made upon the Company’s irrevocable  notice to the Administrative Agent, which may be given by: (A) telephone or (B) a Committed Loan Notice.  Each such notice must be received by the Administrative Agent not later than 11:00 a.m. (i) three Business  Days prior to the requested date of any Borrowing of, conversion to or continuation of Eurocurrency Rate  Loans denominated in Dollars or of any conversion of Eurocurrency Rate Loans denominated in Dollars to  Base Rate Committed Loans, (ii) four Business Days (or five Business Days in the case of a Special Notice  Currency) prior to the requested date of any Borrowing or continuation of Eurocurrency Rate Loans  denominated in Alternative Currencies, and (iii) on the requested date of any Borrowing of Base Rate  Committed Loans.  Each telephonic notice by the Company pursuant to this Section 2.02(a) must be   confirmed promptly by delivery to the Administrative Agent of a written Committed Loan Notice,   appropriately completed and signed by a Responsible Officer of the Company.  Each Borrowing of,   conversion to or continuation of Eurocurrency Rate Loans shall be in a principal amount of $5,000,000 or   a whole multiple of $1,000,000 in excess thereof.  Except as provided in Sections 2.03(c) and 2.04(c), each   Committed Borrowing of or conversion to Base Rate Committed Loans shall be in a principal amount of   $1,000,000 or a whole multiple of $500,000 in excess thereof.  Each Committed Loan Notice (whether   telephonic or written) shall specify (i) whether the Company is requesting a Committed Borrowing (and   the applicable Tranche), a conversion of Committed Loans (and the applicable Tranche) from one Type to   the other, or a continuation of Eurocurrency Rate Loans, (ii) the requested date of the Borrowing,   conversion or continuation, as the case may be (which shall be a Business Day), (iii) the principal amount   of Committed Loans to be borrowed, converted or continued, (iv) the Type of Committed Loans to be  borrowed or to which existing Committed Loans are to be converted, (v) if applicable, the duration of the  Interest Period with respect thereto, (vi) the currency of the Committed Loans to be borrowed, and (vii) if   applicable, the Designated Borrower.  If the Company fails to specify a currency in a Committed Loan   Notice requesting a Borrowing, then the Committed Loans so requested shall be made in Dollars.  If the   Company fails to specify a Type of Committed Loan in a Committed Loan Notice or if the Company fails   to give a timely notice requesting a conversion or continuation, then the applicable Committed Loans shall   be made as, or converted to, Base Rate Loans; provided, however, that in the case of a failure to timely   request a continuation of (x) Committed Loans denominated in an Alternative Currency or (y) Committed   Loans to a Designated Borrower that is a Foreign Subsidiary, such Loans shall be continued as   Eurocurrency Rate Loans in their original currency with an Interest Period of one month.  Any automatic                                               41 

 

     conversion to Base Rate Loans shall be effective as of the last day of the Interest Period then in effect with   respect to the applicable Eurocurrency Rate Loans.  If the Company requests a Borrowing of, conversion   to, or continuation of Eurocurrency Rate Loans in any such Committed Loan Notice, but fails to specify an   Interest Period, it will be deemed to have specified an Interest Period of one month.  No Committed Loan   may be converted into or continued as a Committed Loan denominated in a different currency, but instead   must be prepaid in the original currency of such Committed Loan and reborrowed in the other currency.    No Tranche 1 Loan may be converted into or continued as a Tranche 2 Loan, and no Tranche 2 Loan may   be converted into or continued as a Tranche 1 Loan.  The Company shall use commercially reasonable   efforts to the extent practicable (taking into account the minimum denominations required for Committed   Borrowings and the Company or other Borrower’s need for Loans in Alternative Currencies) to allocate   Committed Borrowings hereunder such that, after giving pro forma effect to each such Committed   Borrowing, the percentage of unused Tranche 1 Commitments relative to the Aggregate Tranche 1   Commitments and unused Tranche 2 Commitments relative to the Aggregate Tranche 2 Commitments are   approximately equal; provided that, the failure to maintain such approximately equal percentages shall not   be a Default or Event of Default hereunder.          (b)   Following receipt of a Committed Loan Notice, the Administrative Agent shall promptly  notify each Appropriate Lender of the amount (and currency) of its Applicable Percentage of the applicable  Committed Loans, and if no timely notice of a conversion or continuation is provided by the Company, the  Administrative Agent shall notify each Appropriate Lender of the details of any automatic conversion to  Base Rate Loans, continuation of Committed Loans denominated in a currency other than Dollars, or the  continuation of a Committed Loan to a Designated Borrower that is a Foreign Subsidiary, in each case as  described in the preceding subsection.  In the case of a Committed Borrowing, each Appropriate Lender  shall make the amount of its Committed Loan available to the Administrative Agent in Same Day Funds at  the Administrative Agent’s Office for the applicable currency not later than 12:30 p.m., in the case of any  Committed Loan denominated in Dollars, and not later than the Applicable Time specified by the  Administrative Agent in the case of any Committed Loan in an Alternative Currency, in each case on the  Business Day specified in the applicable Committed Loan Notice.  Upon satisfaction of the applicable  conditions set forth in Section 4.02 (and, if such Borrowing is the initial Credit Extension, Section 4.01),   the Administrative Agent shall make all funds so received available to the Company or other applicable   Borrower in like funds as received by the Administrative Agent either by (i) crediting the account of such   Borrower on the books of Bank of America with the amount of such funds or (ii) wire transfer of such   funds, in each case in accordance with instructions provided to (and reasonably acceptable to) the   Administrative Agent by the Company; provided, however, that if, on the date the Committed Loan Notice   with respect to such Borrowing denominated in Dollars is given by the Company, there are L/C Borrowings   outstanding, then the proceeds of such Borrowing, first, shall be applied to the payment in full of any such   L/C Borrowings, and, second, shall be made available to the applicable Borrower as provided above.          (c)   Except as otherwise provided herein, a Eurocurrency Rate Loan may be continued or  converted only on the last day of an Interest Period for such Eurocurrency Rate Loan.  During the existence  of an Event of Default, (i) no Tranche 1 Loans may be requested as, converted to or continued as  Eurocurrency Rate Loans having Interest Periods of greater than one month (whether in Dollars or any   Alternative Currency) without the consent of the Required Tranche 1 Lenders, and the Required Tranche 1   Lenders may demand that any or all of the then outstanding Tranche 1 Loans constituting Eurocurrency   Rate Loans denominated in an Alternative Currency be prepaid, or redenominated into Dollars in the   amount of the Dollar Equivalent thereof, on the last day of the then current Interest Period with respect   thereto (ii) no Tranche 2 Loans may be requested as, converted to or continued as Eurocurrency Rate Loans   having Interest Periods of greater than one month (whether in Dollars or any Alternative Currency) without   the consent of the Required Tranche 2 Lenders, and the Required Tranche 2 Lenders may demand that any   or all of the then outstanding Tranche 2 Loans constituting Eurocurrency Rate Loans denominated in an                                               42 

 

    Alternative Currency be prepaid, or redenominated into Dollars in the amount of the Dollar Equivalent  thereof, on the last day of the then current Interest Period with respect thereto.         (d)   The Administrative Agent shall promptly notify the Company and the Appropriate Lenders  of the interest rate applicable to any Interest Period for Eurocurrency Rate Loans upon determination of  such interest rate.  At any time that Base Rate Loans are outstanding, the Administrative Agent shall notify  the Company and the Lenders of any change in Bank of America’s prime rate used in determining the Base  Rate promptly following the public announcement of such change.         (e)   After giving effect to all Committed Borrowings, all conversions of Committed Loans from  one Type to the other, and all continuations of Committed Loans as the same Type, there shall not be more  than sixteen Interest Periods in effect with respect to all Committed Loans.          (f)   The failure of any Lender to make any Committed Loan to be made by it as part of any   Committed Borrowing shall not relieve any other Lender of its obligation, if any, hereunder to make its   Committed Loan on the date of such Committed Borrowing.  Except as expressly contemplated by Section   2.16(a)(iv), no Lender shall be responsible for the failure of any other Lender to make any Committed Loan   to be made by such other Lender on the date of any Committed Borrowing.          2.03  Letters of Credit.          (a)   Letter of Credit Commitment.                (i)   Subject to the terms and conditions set forth herein, (A) each L/C Issuer agrees, in        reliance upon the agreements of the Tranche 1 Lenders set forth in this Section 2.03, (1) from time         to time on any Business Day during the period from the Closing Date until the Letter of Credit         Expiration Date, to issue Letters of Credit denominated in Dollars or in one or more Alternative         Currencies for the account of the Company, and to amend or extend, Letters of Credit previously         issued by it, in accordance with subsection (b) below, and (2) to honor drawings under the Letters         of Credit; and (B) the Tranche 1 Lenders severally agree to participate in Letters of Credit issued         for the account of the Company and any drawings thereunder; provided that after giving effect to         any L/C Credit Extension with respect to any Letter of Credit, (w) the L/C Obligations issued by         and owing to any L/C Issuer shall not exceed its L/C Commitment unless otherwise agreed to by         such L/C Issuer in its sole discretion, and shall not exceed the Letter of Credit Sublimit in any         event, (x) the Total Tranche 1 Outstandings shall not exceed the Aggregate Tranche 1         Commitments, (y) the Revolving Credit Exposure of any Tranche 1 Lender shall not exceed such         Tranche 1 Lender’s Tranche 1 Commitment, and (z) the Outstanding Amount of the L/C        Obligations shall not exceed the Letter of Credit Sublimit.  Each request by the Company for the        issuance or amendment of a Letter of Credit shall be deemed to be a representation by the Company        that the L/C Credit Extension so requested complies with the conditions set forth in the proviso to        the preceding sentence.  Within the foregoing limits, and subject to the terms and conditions hereof,        the Company’s ability to obtain Letters of Credit shall be fully revolving, and accordingly the        Company may, during the foregoing period, obtain Letters of Credit to replace Letters of Credit        that have expired or that have been drawn upon and reimbursed.  All Existing Letters of Credit        shall be deemed to have been issued pursuant hereto, and from and after the Closing Date shall be        subject to and governed by the terms and conditions hereof.                (ii) No L/C Issuer shall issue any Letter of Credit, if:                                                 43 

 

                             (A)  subject to Section 2.03(b)(iii), the expiry date of the requested Letter of         Credit would occur more than twelve months after the date of issuance or last extension,        unless the applicable L/C Issuer and the Required Tranche 1 Lenders have approved such        expiry date; or                (B)   the expiry date of the requested Letter of Credit would occur after the        Letter of Credit Expiration Date, unless the applicable L/C Issuer and all the Tranche 1        Lenders have approved such expiry date.         (iii)  No L/C Issuer shall be under any obligation to issue any Letter of Credit if:                (A)  any order, judgment or decree of any Governmental Authority or arbitrator        shall by its terms purport to enjoin or restrain such L/C Issuer from issuing the Letter of        Credit, or any Law applicable to such L/C Issuer or any request or directive (whether or        not having the force of law) from any Governmental Authority with jurisdiction over such        L/C Issuer shall prohibit, or request that such L/C Issuer refrain from, the issuance of letters        of credit generally or the Letter of Credit in particular or shall impose upon such L/C Issuer        with respect to the Letter of Credit any restriction, reserve or capital requirement (for which        such L/C Issuer is not otherwise compensated hereunder) not in effect on the Closing Date,        or shall impose upon such L/C Issuer any unreimbursed loss, cost or expense which was        not applicable on the Closing Date and which such L/C Issuer in good faith deems material        to it;               (B)   the issuance of the Letter of Credit would violate one or more policies of        such L/C Issuer applicable to letters of credit generally;               (C)   except as otherwise agreed by the Administrative Agent and such L/C        Issuer, the Letter of Credit is in an initial stated amount less than $100,000;               (D)   except as otherwise agreed by the Administrative Agent and such L/C        Issuer, such Letter of Credit is to be denominated in a currency other than Dollars or an        Alternative Currency;               (E)   such L/C Issuer does not as of the issuance date of such requested Letter        of Credit issue Letters of Credit in the requested currency; or                (F)  any Tranche 1 Lender is at that time a Defaulting Lender, unless such L/C        Issuer has entered into arrangements, including the delivery of Cash Collateral, satisfactory        to such L/C Issuer (in its sole discretion) with the Company or such Tranche 1 Lender to        eliminate such L/C Issuer’s actual or potential Fronting Exposure (after giving effect to        Section 2.17(a)(iv)) with respect to the Defaulting Lender arising from either the Letter of         Credit then proposed to be issued or that Letter of Credit and all other L/C Obligations as         to which such L/C Issuer has actual or potential Fronting Exposure, as it may elect in its         sole discretion.          (iv)  No L/C Issuer shall amend any Letter of Credit if such L/C Issuer would not be  permitted at such time to issue the Letter of Credit in its amended form under the terms hereof.         (v)   No L/C Issuer shall be under any obligation to amend any Letter of Credit if (A)  such L/C Issuer would have no obligation at such time to issue the Letter of Credit in its amended                                                                 44 

 

        form under the terms hereof, or (B) the beneficiary of the Letter of Credit does not accept the       proposed amendment to the Letter of Credit.               (vi)  Each L/C Issuer shall act on behalf of the Tranche 1 Lenders with respect to any       Letters of Credit issued by it and the documents associated therewith, and such L/C Issuer shall       have all of the benefits and immunities (A) provided to the Administrative Agent in Article IX with        respect to any acts taken or omissions suffered by such L/C Issuer in connection with Letters of        Credit issued by it or proposed to be issued by it and Issuer Documents pertaining to such Letters        of Credit as fully as if the term “Administrative Agent” as used in Article IX included such L/C        Issuer with respect to such acts or omissions, and (B) as additionally provided herein with respect        to such L/C Issuer.         (b)   Procedures for Issuance and Amendment of Letters of Credit; Auto-Extension Letters of  Credit.               (i)   Each Letter of Credit shall be issued or amended, as the case may be, upon the       request of the Company delivered to the applicable L/C Issuer (with a copy to the Administrative       Agent) in the form of a Letter of Credit Application, appropriately completed and signed by a       Responsible Officer of the Company.  Such Letter of Credit Application may be sent by facsimile,       by United States mail, by overnight courier, by electronic transmission using the system provided       by such L/C Issuer, by personal delivery or by any other means acceptable to such L/C Issuer.  Such       Letter of Credit Application must be received by such L/C Issuer and the Administrative Agent not       later than 11:00 a.m. at least two Business Days (or such later date and time as the Administrative       Agent and such L/C Issuer may agree in a particular instance in their sole discretion) prior to the       proposed issuance date or date of amendment, as the case may be.  In the case of a request for an       initial issuance of a Letter of Credit, such Letter of Credit Application shall specify in form and       detail satisfactory to the applicable L/C Issuer: (A) the proposed issuance date of the requested       Letter of Credit (which shall be a Business Day); (B) the amount and currency thereof; (C) the       expiry date thereof; (D) the name and address of the beneficiary thereof; (E) the documents to be       presented by such beneficiary in case of any drawing thereunder; (F) the full text of any certificate       to be presented by such beneficiary in case of any drawing thereunder; (G) the purpose and nature       of the requested Letter of Credit; and (H) such other matters as the applicable L/C Issuer may       reasonably require.  In the case of a request for an amendment of any outstanding Letter of Credit,       such Letter of Credit Application shall specify in form and detail satisfactory to the applicable L/C       Issuer (A) the Letter of Credit to be amended; (B) the proposed date of amendment thereof (which       shall be a Business Day); (C) the nature of the proposed amendment; and (D) such other matters as       the applicable L/C Issuer may reasonably require.  Additionally, the Company shall furnish to the       applicable L/C Issuer and the Administrative Agent such other documents and information       pertaining to such requested Letter of Credit issuance or amendment, including any Issuer       Documents, as the applicable L/C Issuer or the Administrative Agent may reasonably require.               (ii) Promptly after receipt of any Letter of Credit Application, the applicable L/C       Issuer will confirm with the Administrative Agent (by telephone or in writing) that the       Administrative Agent has received a copy of such Letter of Credit Application from the Company       and, if not, such L/C Issuer will provide the Administrative Agent with a copy thereof.  Unless the       applicable L/C Issuer has received written notice from any Tranche 1 Lender, the Administrative       Agent or any Loan Party, at least one Business Day prior to the requested date of issuance or       amendment of the applicable Letter of Credit, that one or more applicable conditions contained in       Article IV or in the proviso in Section 2.03(a)(i)(w) – (z) shall not then be satisfied, then, subject        to the terms and conditions hereof, such L/C Issuer shall, on the requested date, issue a Letter of                                            45 

 

                 Credit for the account of the Company or enter into the applicable amendment, as the case may be,   in each case in accordance with such L/C  Issuer'sIssuer’s usual and customary business practices.    Immediately upon the issuance of each Letter of Credit, each Tranche 1 Lender shall be deemed to,   and hereby irrevocably and unconditionally agrees to, purchase from such L/C Issuer a risk   participation in such Letter of Credit in an amount equal to the product of such Tranche 1 Lender’s   Applicable Tranche 1 Percentage times the amount of such Letter of Credit.          (iii) If the Company so requests in any applicable Letter of Credit Application, the  applicable L/C Issuer may, in its sole discretion, agree to issue a Letter of Credit that has automatic  extension provisions (each, an “Auto-Extension Letter of Credit”); provided that any such Auto-  Extension Letter of Credit must permit such L/C Issuer to prevent any such extension at least once   in each twelve-month period (commencing with the date of issuance of such Letter of Credit) by  giving prior notice to the beneficiary thereof not later than a day (the “Non-Extension Notice Date”)   in each such twelve-month period to be agreed upon at the time such Letter of Credit is issued.    Unless otherwise directed by the applicable L/C Issuer, the Company shall not be required to make   a specific request to such L/C Issuer for any such extension.  Once an Auto-Extension Letter of   Credit has been issued, the Tranche 1 Lenders shall be deemed to have authorized (but may not   require) such L/C Issuer to permit the extension of such Letter of Credit at any time to an expiry   date not later than the Letter of Credit Expiration Date; provided, however, that no L/C Issuer shall   permit any such extension if (A) such L/C Issuer has determined that it would not be permitted, or  would have no obligation, at such time to issue such Letter of Credit in its revised form (as  extended) under the terms hereof (by reason of the provisions of clause (ii) or (iii) of Section 2.03(a)   or otherwise), or (B) it has received notice (which may be by telephone or in writing) on or before   the day that is five Business Days before the Non-Extension Notice Date (1) from the   Administrative Agent that the Required Tranche 1 Lenders have elected not to permit such   extension or (2) from the Administrative Agent, any Tranche 1 Lender or the Company that one or   more of the applicable conditions specified in Section 4.02 is not then satisfied, and in each such   case directing the applicable L/C Issuer not to permit such extension.          (iv)  [Reserved].          (v)   Promptly after its delivery of any Letter of Credit or any amendment to a Letter of   Credit to an advising bank with respect thereto or to the beneficiary thereof, the applicable L/C   Issuer will also deliver to the Company and the Administrative Agent a true and complete copy of   such Letter of Credit or amendment.    (c)   Drawings and Reimbursements; Funding of Participations.          (i)   Upon receipt from the beneficiary of any Letter of Credit of any notice of a drawing  under such Letter of Credit, the applicable L/C Issuer shall notify the Company and the  Administrative Agent thereof.  In the case of a Letter of Credit denominated in an Alternative  Currency, the Company shall reimburse the applicable L/C Issuer in such Alternative Currency,  unless (A) such L/C Issuer (at its option) shall have specified in such notice that it will require  reimbursement in Dollars, or (B) in the absence of any such requirement for reimbursement in  Dollars, the Company shall have notified such L/C Issuer promptly following receipt of the notice  of drawing that the Company will reimburse such L/C Issuer in Dollars.  In the case of any such  reimbursement in Dollars of a drawing under a Letter of Credit denominated in an Alternative  Currency, the applicable L/C Issuer shall notify the Company of the Dollar Equivalent of the  amount of the drawing promptly following the determination thereof.  Not later than 12:00 noon  on the date of any payment by the applicable L/C Issuer under a Letter of Credit to be reimbursed                                                                 46 

 

                 in Dollars, if the Company has been so notified at or before 11:00 a.m. on such date, otherwise not   later than 11:00 a.m. on the next Business Day, or the Applicable Time on the date of any payment   by such L/C Issuer under a Letter of Credit to be reimbursed in an Alternative Currency (each such   date, an “Honor Date”), the Company shall reimburse such L/C Issuer through the Administrative   Agent in an amount equal to the amount of such drawing and in the applicable Alternative   Currency.  In the event that (A) a drawing denominated in an Alternative Currency is to be   reimbursed in Dollars pursuant to the second sentence in this Section 2.03(c)(i) and (B) the Dollar   amount paid by the Company, whether on or after the Honor Date, shall not be adequate on the date   of that payment to purchase in accordance with normal banking procedures a sum denominated in   the Alternative Currency equal to the drawing, the Company agrees, as a separate and independent   obligation, to indemnify the applicable L/C Issuer for the loss resulting from its inability on that   date to purchase the Alternative Currency in the full amount of the drawing.  If the Company fails   to timely reimburse the applicable L/C Issuer on the Honor Date, the Administrative Agent shall   promptly notify each Tranche 1 Lender of the Honor Date, the amount of the unreimbursed drawing   (expressed in Dollars in the amount of the Dollar Equivalent thereof in the case of a Letter of Credit   denominated in an Alternative Currency) (the “Unreimbursed Amount”), and the amount of such   Tranche 1 Lender’s Applicable Tranche 1 Percentage thereof.  In such event, the Company shall   be deemed to have requested a Tranche 1 Borrowing of Base Rate Loans to be disbursed on the   Honor Date in an amount equal to the Unreimbursed Amount, without regard to the minimum and   multiples specified in Section 2.02 for the principal amount of Base Rate Loans, but subject to the   amount of the unutilized portion of the Aggregate Tranche 1 Commitments and the conditions set   forth in Section 4.02 (other than the delivery of a Committed Loan Notice).  Any notice given by   the applicable L/C Issuer or the Administrative Agent pursuant to this Section 2.03(c)(i) may be   given by telephone if immediately confirmed in writing; provided that the lack of such an   immediate confirmation shall not affect the conclusiveness or binding effect of such notice.          (ii) Each Tranche 1 Lender shall upon any notice pursuant to Section 2.03(c)(i) make   funds available (and the Administrative Agent may apply Cash Collateral provided for this purpose)   for the account of the applicable L/C Issuer, in Dollars, at the Administrative Agent’s Office for   Dollar-denominated payments in an amount equal to its Applicable Tranche 1 Percentage of the  Unreimbursed Amount not later than 1:00 p.m. on the Business Day specified in such notice by the  Administrative Agent, whereupon, subject to the provisions of Section 2.03(c)(iii), each Tranche 1   Lender that so makes funds available shall be deemed to have made a Base Rate Committed Loan   to the Company in such amount.  The Administrative Agent shall remit the funds so received to the   applicable L/C Issuer in Dollars.          (iii) With respect to any Unreimbursed Amount that is not fully refinanced by a  Tranche 1 Borrowing of Base Rate Loans because the conditions set forth in Section 4.02 cannot   be satisfied or for any other reason, the Company shall be deemed to have incurred from the   applicable L/C Issuer an L/C Borrowing in the amount of the Unreimbursed Amount that is not so  refinanced, which L/C Borrowing shall be due and payable on demand (together with interest) and  shall bear interest at the Default Rate.  In such event, each Tranche 1 Lender’s payment to the  Administrative Agent for the account of the applicable L/C Issuer pursuant to Section 2.03(c)(ii)   shall be deemed payment in respect of its participation in such L/C Borrowing and shall constitute   an L/C Advance from such Tranche 1 Lender in satisfaction of its participation obligation under   this Section 2.03.          (iv)  Until each Tranche 1 Lender funds its Tranche 1 Loan or L/C Advance pursuant  to this Section 2.03(c) to reimburse the applicable L/C Issuer for any amount drawn under any                                                                  47 

 

                Letter of Credit, interest in respect of such Tranche 1 Lender’s Applicable Tranche 1 Percentage of  such amount shall be solely for the account of such L/C Issuer.          (v)   Each Tranche 1 Lender’s obligation to make Tranche 1 Loans or L/C Advances to  reimburse the applicable L/C Issuer for amounts drawn under Letters of Credit, as contemplated by  this Section 2.03(c), shall be absolute and unconditional and shall not be affected by any   circumstance, including (A) any setoff, counterclaim, recoupment, defense or other right which   such Tranche 1 Lender may have against such L/C Issuer, the Facility Guarantor, the Company,   any Subsidiary or any other Person for any reason whatsoever; (B) the occurrence or continuance   of a Default, or (C) any other occurrence, event or condition, whether or not similar to any of the  foregoing; provided, however, that each Tranche 1 Lender’s obligation to make Tranche 1 Loans   pursuant to this Section 2.03(c) is subject to the conditions set forth in Section 4.02 (other than   delivery by the Company of a Committed Loan Notice).  No such making of an L/C Advance shall   relieve or otherwise impair the obligation of the Company to reimburse the applicable L/C Issuer   for the amount of any payment made by such L/C Issuer under any Letter of Credit, together with   interest as provided herein.          (vi)  If any Tranche 1 Lender fails to make available to the Administrative Agent for  the account of the applicable L/C Issuer any amount required to be paid by such Tranche 1 Lender  pursuant to the foregoing provisions of this Section 2.03(c) by the time specified in Section   2.03(c)(ii), then, without limiting the other provisions of this Agreement, such L/C Issuer shall be   entitled to recover from such Tranche 1 Lender (acting through the Administrative Agent), on   demand, such amount with interest thereon for the period from the date such payment is required   to the date on which such payment is immediately available to such L/C Issuer at a rate per annum   equal to the applicable Overnight Rate from time to time in effect, plus any administrative,   processing or similar fees customarily charged by such L/C Issuer in connection with the foregoing.    If such Tranche 1 Lender pays such amount (with interest and fees as aforesaid), the amount so   paid shall constitute such Tranche 1 Lender’s Tranche 1 Loan included in the relevant Tranche 1   Borrowing or L/C Advance in respect of the relevant L/C Borrowing, as the case may be.  A   certificate of the applicable L/C Issuer submitted to any Tranche 1 Lender (through the   Administrative Agent) with respect to any amounts owing under this clause (vi) shall be conclusive   absent manifest error.    (d)   Repayment of Participations.          (i)   At any time after an L/C Issuer has made a payment under any Letter of Credit and  has received from any Tranche 1 Lender such Tranche 1 Lender’s L/C Advance in respect of such  payment in accordance with Section 2.03(c), if the Administrative Agent receives for the account   of such L/C Issuer any payment in respect of the related Unreimbursed Amount or interest thereon   (whether directly from the Company or otherwise, including proceeds of Cash Collateral applied   thereto by the Administrative Agent), the Administrative Agent will distribute to such Tranche 1   Lender its Applicable Tranche 1 Percentage thereof in Dollars and in the same funds as those   received by the Administrative Agent.          (ii) If any payment received by the Administrative Agent for the account of an L/C  Issuer pursuant to Section 2.03(c)(i) is required to be returned under any of the circumstances   described in Section 11.05 (including pursuant to any settlement entered into by such L/C Issuer in   its discretion), each Tranche 1 Lender shall pay to the Administrative Agent for the account of such   L/C Issuer its Applicable Tranche 1 Percentage thereof on demand of the Administrative Agent,   plus interest thereon from the date of such demand to the date such amount is returned by such                                                                 48 

 

        Tranche 1 Lender, at a rate per annum equal to the applicable Overnight Rate from time to time in       effect.  The obligations of the Tranche 1 Lenders under this clause shall survive the payment in full       of the Obligations and the termination of this Agreement.         (e)   Obligations Absolute.  The obligation of the Company to reimburse the applicable L/C  Issuer for each drawing under each Letter of Credit and to repay each L/C Borrowing shall be absolute,  unconditional and irrevocable, and shall be paid strictly in accordance with the terms of this Agreement  under all circumstances, including the following:               (i)   any lack of validity or enforceability of such Letter of Credit, this Agreement, or       any other Loan Document;               (ii) the existence of any claim, counterclaim, setoff, defense or other right that the       Facility Guarantor, the Company or any other Subsidiary may have at any time against any       beneficiary or any transferee of such Letter of Credit (or any Person for whom any such beneficiary       or any such transferee may be acting), the applicable L/C Issuer or any other Person, whether in       connection with this Agreement, the transactions contemplated hereby or by such Letter of Credit       or any agreement or instrument relating thereto, or any unrelated transaction;              (iii) any draft, demand, certificate or other document presented under such Letter of       Credit proving to be forged, fraudulent, invalid or insufficient in any respect or any statement       therein being untrue or inaccurate in any respect; or any loss or delay in the transmission or       otherwise of any document required in order to make a drawing under such Letter of Credit;              (iv)  waiver by any L/C Issuer of any requirement that exists for such L/C Issuer’s       protection and not the protection of the Company or any waiver by any L/C Issuer which does not       in fact materially prejudice the Company;              (v)   honor of a demand for payment presented electronically even if such Letter of       Credit requires that demand be in the form of a draft;              (vi)  any payment made by the applicable L/C Issuer in respect of an otherwise       complying item presented after the date specified as the expiration date of, or the date by which       documents must be received under, such Letter of Credit if presentation after such date is authorized       by the UCC, the ISP or the UCP, as applicable;              (vii) any payment by the applicable L/C Issuer under such Letter of Credit against       presentation of a draft or certificate that does not strictly comply with the terms of such Letter of       Credit; or any payment made by the applicable L/C Issuer under such Letter of Credit to any Person       purporting to be a trustee in bankruptcy, debtor-in-possession, assignee for the benefit of creditors,       liquidator, receiver, judicial manager or other representative of or successor to any beneficiary or       any transferee of such Letter of Credit, including any arising in connection with any proceeding       under any Debtor Relief Law;              (viii) any adverse change in the relevant exchange rates or in the availability of the       relevant Alternative Currency to the Facility Guarantor, the Company or any other Subsidiary or in       the relevant currency markets generally; or                                              49 

 

                (ix)   any other circumstance or happening whatsoever, whether or not similar to any of        the foregoing, including any other circumstance that might otherwise constitute a defense available        to, or a discharge of, the Facility Guarantor, the Company or any other Subsidiary.         The Company shall promptly examine a copy of each Letter of Credit and each amendment thereto  that is delivered to it and, in the event of any claim of noncompliance with the Company’s instructions or  other irregularity, the Company will immediately notify the applicable L/C Issuer.  The Company shall be  conclusively deemed to have waived any such claim against the applicable L/C Issuer and its  correspondents unless such notice is given as aforesaid.          (f)   Role of L/C Issuer.  Each Tranche 1 Lender and the Company agree that, in paying any   drawing under a Letter of Credit, the applicable L/C Issuer shall not have any responsibility to obtain any   document (other than any sight draft, certificates and documents expressly required by the Letter of Credit)   or to ascertain or inquire as to the validity or accuracy of any such document or the authority of the Person   executing or delivering any such document.  None of the applicable L/C Issuer, the Administrative Agent,   any of their respective Related Parties nor any correspondent, participant or assignee of the applicable L/C   Issuer shall be liable to any Tranche 1 Lender for (i) any action taken or omitted in connection herewith at   the request or with the approval of the Tranche 1 Lenders or the Required Tranche 1 Lenders, as applicable;   (ii) any action taken or omitted in the absence of gross negligence or willful misconduct; or (iii) the due   execution, effectiveness, validity or enforceability of any document or instrument related to any Letter of   Credit or Issuer Document.  The Company hereby assumes all risks of the acts or omissions of any   beneficiary or transferee with respect to its use of any Letter of Credit; provided, however, that this   assumption is not intended to, and shall not, preclude the Company’s pursuing such rights and remedies as   it may have against the beneficiary or transferee at law or under any other agreement.  None of the L/C   Issuers, the Administrative Agent, any of their respective Related Parties nor any correspondent, participant   or assignee of the applicable L/C Issuer shall be liable or responsible for any of the matters described in   clauses (i) through (v) of Section 2.03(e); provided, however, that anything in such clauses to the contrary   notwithstanding, the Company may have a claim against the applicable L/C Issuer, and such L/C Issuer   may be liable to the Company, to the extent, but only to the extent, of any direct, as opposed to consequential  or exemplary, damages suffered by the Company which the Company proves were caused by such L/C   Issuer'sIssuer’s willful misconduct or gross negligence or such L/C Issuer'sIssuer’s willful failure to pay   under any Letter of Credit after the presentation to it by the beneficiary of a sight draft and certificate(s)   strictly complying with the terms and conditions of a Letter of Credit.  In furtherance and not in limitation   of the foregoing, the applicable L/C Issuer may accept documents that appear on their face to be in order,   without responsibility for further investigation, regardless of any notice or information to the contrary, and   such L/C Issuer shall not be responsible for the validity or sufficiency of any instrument transferring or   assigning or purporting to transfer or assign a Letter of Credit or the rights or benefits thereunder or proceeds   thereof, in whole or in part, which may prove to be invalid or ineffective for any reason.  The applicable   L/C Issuer may send a Letter of Credit or conduct any communication to or from the beneficiary via the   Society for Worldwide Interbank Financial Telecommunication (“SWIFT”) message or overnight courier,   or any other commercially reasonable means of communicating with a beneficiary.          (g)   Applicability of ISP.  Unless otherwise expressly agreed by the applicable L/C Issuer and   the Company when a Letter of Credit is issued (including any such agreement applicable to an Existing   Letter of Credit), the rules of the ISP shall apply to each Letter of Credit. Notwithstanding the foregoing,   the applicable L/C Issuer shall not be responsible to the Company for, and such L/C Issuer’s rights and   remedies against the Company shall not be impaired by, any action or inaction of such L/C Issuer required   or permitted under any law, order, or practice that is required or permitted to be applied to any Letter of   Credit or this Agreement, including the Law or any order of a jurisdiction where such L/C Issuer or the   beneficiary is located, the practice stated in the ISP or UCP, as applicable, or in the decisions, opinions,                                               50 

 

    practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for  Finance and Trade - International Financial Services Association (BAFT-IFSA), or the Institute of  International Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice.          (h)   Letter of Credit Fees.  The Company shall pay to the Administrative Agent for the account   of each Tranche 1 Lender in accordance, subject to adjustment as provided in Section 2.17, with its   Applicable Tranche 1 Percentage, in Dollars, a Letter of Credit fee (the “Letter of Credit Fee”) for each   Letter of Credit equal to the Applicable Rate times the Dollar Equivalent of the daily amount available to   be drawn under such Letter of Credit.  For purposes of computing the daily amount available to be drawn   under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with   Section 1.09.  Letter of Credit Fees shall be (i) due and payable on the first Business Day after the end of   each March, June, September and December, commencing with the first such date to occur after the   issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand and (ii)   computed on a quarterly basis in arrears.  If there is any change in the Applicable Rate during any quarter,   the daily amount available to be drawn under each Letter of Credit shall be computed and multiplied by the   Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect.    Notwithstanding anything to the contrary contained herein, upon the request of the Required Tranche 1   Lenders, while any Event of Default exists, all Letter of Credit Fees shall accrue at the Default Rate.          (i)   Fronting Fee and Documentary and Processing Charges Payable to L/C Issuer.  The   Company shall pay directly to the applicable L/C Issuer for its own account, in Dollars, a fronting fee with   respect to each Letter of Credit, at the rate per annum specified in the Joint Fee Letter, computed on the  Dollar Equivalent of the daily amount available to be drawn under such Letter of Credit on a quarterly basis  in arrears.  Such fronting fee shall be due and payable on the tenth Business Day after the end of each   March, June, September and December in respect of the most recently-ended quarterly period (or portion   thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of  such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand.  For purposes of  computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of  Credit shall be determined in accordance with Section 1.09.  In addition, the Company shall pay directly to   the applicable L/C Issuer for its own account, in Dollars, the customary issuance, presentation, amendment   and other processing fees, and other standard costs and charges, of such L/C Issuer relating to letters of   credit as from time to time in effect.  Such customary fees and standard costs and charges are due and   payable on demand and are nonrefundable.          (j)   Conflict with Issuer Documents.  In the event of any conflict between the terms hereof and   the terms of any Issuer Document, the terms hereof shall control.          (k)   Letters of Credit Issued for Subsidiaries.  Notwithstanding that a Letter of Credit issued or   outstanding hereunder is in support of any obligations of a Subsidiary of the Company, the Company shall   be obligated to reimburse the applicable L/C Issuer hereunder for any and all drawings under such Letter   of Credit.  The Company hereby acknowledges that the issuance of Letters of Credit in support of   obligations of a Subsidiary of the Company inures to the benefit of the Company, and that the Company’s   business derives substantial benefits from the businesses of its Subsidiaries.          2.04  Swing Line Loans.          (a)   The Swing Line.  Subject to the terms and conditions set forth herein, each Swing Line   Lender, in reliance upon the agreements of the other Tranche 1 Lenders set forth in this Section 2.04, may   in its sole discretion, make loans (each such loan, a “Swing Line Loan”) to (i) in the case of Bank of   America, the Company, which shall consist of Swing Line Loans denominated in Dollars, in an aggregate                                               51 

 

   principal amount not to exceed the Swing Line Dollar Sublimit, and (ii) in the case of each of Bank of  America and Citibank, N.A., any Designated Borrower approved by both of the Swing Line Euro Lenders,  which shall consist of Swing Line Loans denominated in Euro, in an aggregate principal amount not to  exceed (1) the Swing Line Euro Sublimit, (2) in the case of Bank of America, a Dollar Equivalent of  $75,000,000 and (3) in the case of Citibank, N.A., a Dollar Equivalent of $75,000,000, in each case from  time to time on any Business Day during the Availability Period, notwithstanding the fact that such Swing  Line Loans, when aggregated with the Applicable Tranche 1 Percentage of the Outstanding Amount of  Tranche 1 Loans and L/C Obligations of the Tranche 1 Lender acting as Swing Line Lender, may exceed  the amount of such Tranche 1 Lender’s Tranche 1 Commitment; provided, however, that (x) after giving  effect to any Swing Line Loan, (i) the Total Tranche 1 Outstandings shall not exceed the Aggregate Tranche  1 Commitments, and (ii) the Revolving Credit Exposure of any Tranche 1 Lender shall not exceed such  Tranche 1 Lender’s Tranche 1 Commitment, (y) the Company shall not use the proceeds of any Swing Line  Loan to refinance any outstanding Swing Line Loan, and (z) the applicable Swing Line Lender shall not be  under any obligation to make any Swing Line Loan if it shall determine (which determination shall be  conclusive and binding absent manifest error) that it has, or by such Credit Extension may have, Fronting  Exposure.  Within the foregoing limits, and subject to the other terms and conditions hereof, the Company  may borrow under this Section 2.04, prepay under Section 2.05, and reborrow under this Section 2.04.  Each  Swing Line Loan denominated in (i) Dollars shall be a Base Rate Loan and (ii) Euros shall be an Euro  Overnight Rate Loan.  Immediately upon the making of a Swing Line Loan, each Tranche 1 Lender shall  be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the applicable Swing  Line Lender a risk participation in such Swing Line Loan in an amount equal to the product of such Tranche  1 Lender’s Applicable Tranche 1 Percentage times the amount of such Swing Line Loan.         (b)   Borrowing Procedures.  Each Swing Line Borrowing shall be made upon the applicable  Borrower’s irrevocable notice to the applicable Swing Line Lender and the Administrative Agent, which  may be given by: (A) telephone (in the case of Swing Line Loans issued by Bank of America only) or (B)  a Swing Line Loan Notice. Each such notice must be received by the applicable Swing Line Lender and  the Administrative Agent not later than 1:00 p.m. Eastern time (in the case of Dollar-denominated Swing  Line Loans) or 11:00 a.m. London time (in the case of Euro-denominated Swing Line Loans) on the  requested borrowing date, and shall specify (i) the amount to be borrowed, which shall be a minimum of  $1,000,000/€1,000,000 or a whole multiple of $500,000/€500,000 in excess thereof, and (ii) the requested  borrowing date, which shall be a Business Day. Each such telephonic notice to Bank of America in its  capacity as Swing Line Lender must be confirmed promptly by delivery to it and the Administrative Agent  of a written Swing Line Loan Notice in such form as may be approved by the Administrative Agent  (including any form on an electronic platform or electronic transmission system as shall be approved by the  Administrative Agent), appropriately completed and signed by a Responsible Officer of the applicable  Borrower. Promptly after receipt by the applicable Swing Line Lender of any Swing Line Loan Notice, the  applicable Swing Line Lender will confirm with the Administrative Agent in writing that the Administrative  Agent has also received such Swing Line Loan Notice and, if not, the applicable Swing Line Lender will  notify the Administrative Agent in writing of the contents thereof. Unless the applicable Swing Line Lender  has received notice in writing from the Administrative Agent (including at the request of any Tranche 1  Lender) prior to 2:00 p.m. Eastern time (in the case of Dollar-denominated Swing Line Loans) or 12:00  noon London time (in the case of Euro-denominated Swing Line Loans) on the date of the proposed Swing  Line Borrowing (A) directing the applicable Swing Line Lender not to make such Swing Line Loan as a  result of the limitations set forth in the first proviso to the first sentence of Section 2.04(a), or (B) that one  or more of the applicable conditions specified in Article IV is not then satisfied, then, subject to the terms  and conditions hereof, the applicable Swing Line Lender will, not later than 3:00 p.m. Eastern time (in the  case of Dollar-denominated Swing Line Loans) or 3:00 p.m. London time (in the case of Euro-denominated  Swing Line Loans) on the borrowing date specified in such Swing Line Loan Notice, make the amount of                                             52 

 

   its Swing Line Loan available to the applicable Borrower by wire transfer to the account specified by the  applicable Borrower in its Swing Line Loan Notice.         (c)   Refinancing of Swing Line Loans.               (i)   The applicable Swing Line Lender at any time in its sole and absolute discretion       may request, on behalf of the applicable Borrower (which hereby irrevocably authorizes the       applicable Swing Line Lender to so request on its behalf), that each Tranche 1 Lender make a       Eurocurrency Rate Loan (with a one-month Interest Period) in the applicable currency in an amount       equal to such Tranche 1 Lender’s Applicable Tranche 1 Percentage of the amount of Swing Line       Loans then outstanding. Such request shall be made in writing (which written request shall be       deemed to be a Committed Loan Notice for purposes hereof) and in accordance with the       requirements of Section 2.02, without regard to the minimum and multiples specified therein for        the principal amount of Eurocurrency Rate Loans, but subject to the unutilized portion of the        Aggregate Tranche 1 Commitments and the conditions set forth in Section 4.02. The applicable        Swing Line Lender shall furnish the applicable Borrower with a copy of the applicable Committed        Loan Notice promptly after delivering such notice to the Administrative Agent. Each Tranche 1        Lender shall make an amount equal to its Applicable Tranche 1 Percentage of the amount specified        in such Committed Loan Notice available to the Administrative Agent in Same Day Funds (and the        Administrative Agent may apply Cash Collateral available with respect to the applicable Swing        Line Loan) for the account of the applicable Swing Line Lender at the Administrative Agent’s        Office for payments in such currency not later than 1:00 p.m. on the day specified in such        Committed Loan Notice, whereupon, subject to Section 2.04(c)(ii), each Tranche 1 Lender that so        makes funds available shall be deemed to have made a Eurocurrency Rate Loan to the applicable        Borrower in such amount. The Administrative Agent shall remit the funds so received to the        applicable Swing Line Lender.               (ii) If for any reason any Swing Line Loan cannot be refinanced by such a Committed        Borrowing in accordance with Section 2.04(c)(i), the request for Eurocurrency Rate Loans        submitted by the applicable Swing Line Lender as set forth herein shall be deemed to be a request        by the applicable Swing Line Lender that each of the Tranche 1 Lenders fund its risk participation        in the relevant Swing Line Loan and each Tranche 1 Lender’s payment to the Administrative Agent        for the account of the applicable Swing Line Lender pursuant to Section 2.04(c)(i) shall be deemed        payment in respect of such participation.               (iii) If any Tranche 1 Lender fails to make available to the Administrative Agent for        the account of the applicable Swing Line Lender any amount required to be paid by such Tranche        1 Lender pursuant to the foregoing provisions of this Section 2.04(c) by the time specified        in Section 2.04(c)(i), the applicable Swing Line Lender shall be entitled to recover from such        Tranche 1 Lender (acting through the Administrative Agent), on demand, such amount with interest        thereon for the period from the date such payment is required to the date on which such payment        is immediately available to the applicable Swing Line Lender at a rate per annum equal to the        applicable Overnight Rate (in the case of Dollar-denominated Swing Line Loans) or the Euro        Overnight Rate (in the case of Euro-denominated Swing Line Loans) from time to time in effect,        plus any administrative processing or similar fees customarily charged by the applicable Swing        Line Lender in connection with the foregoing. If such Tranche 1 Lender pays such amount (with        interest and fees as aforesaid), the amount so paid shall constitute such Tranche 1 Lender’s Tranche        1 Loan included in the relevant Tranche 1 Borrowing or funded participation in the relevant Swing        Line Loan, as the case may be. A certificate of the applicable Swing Line Lender submitted to any                                             53 

 

         Tranche 1 Lender (through the Administrative Agent) with respect to any amounts owing under        this clause (iii) shall be conclusive absent manifest error.               (iv)  Each Tranche 1 Lender’s obligation to make Tranche 1 Loans or to purchase and        fund risk participations in Swing Line Loans pursuant to this Section 2.04(c) shall be absolute and        unconditional and shall not be affected by any circumstance, including (A) any setoff,        counterclaim, recoupment, defense or other right which such Tranche 1 Lender may have against        the applicable Swing Line Lender, the applicable Borrower or any other Person for any reason        whatsoever, (B) the occurrence or continuance of a Default, or (C) any other occurrence, event or        condition, whether or not similar to any of the foregoing; provided, however, that each Tranche 1        Lender’s obligation to make Tranche 1 Loans pursuant to this Section 2.04(c) is subject to the        conditions set forth in Section 4.02. No such funding of risk participations shall relieve or otherwise        impair the obligation of the Company to repay Swing Line Loans, together with interest as provided        herein.         (d)   Repayment of Participations.               (i)   At any time after any Tranche 1 Lender has purchased and funded a risk        participation in a Swing Line Loan, if the applicable Swing Line Lender receives any payment on        account of such Swing Line Loan, the applicable Swing Line Lender (through the Administrative        Agent) will distribute to such Tranche 1 Lender its Applicable Tranche 1 Percentage thereof in the        same funds as those received by the applicable Swing Line Lender.               (ii) If any payment received by the applicable Swing Line Lender in respect of        principal or interest on any Swing Line Loan is required to be returned by such Swing Line Lender        under any of the circumstances described in Section 11.05 (including pursuant to any settlement        entered into by the applicable Swing Line Lender in its discretion), each Tranche 1 Lender shall        pay to such Swing Line Lender its Applicable Tranche 1 Percentage thereof on demand of the        Administrative Agent, plus interest thereon from the date of such demand to the date such amount        is returned, at a rate per annum equal to the applicable Overnight Rate (in the case of Dollar-       denominated Swing Line Loans) or the Euro Overnight Rate (in the case of Euro-denominated        Swing Line Loans). The Administrative Agent will make such demand upon the request of the        applicable Swing Line Lender. The obligations of the Tranche 1 Lenders under this clause shall        survive the payment in full of the Obligations and the termination of this Agreement.         (e)   Interest for Account of Swing Line Lender.  Each Swing Line Lender shall be responsible  for invoicing the applicable Borrower for interest on the Swing Line Loans made by it. Until each Tranche  1 Lender funds its Eurocurrency Rate Loan or risk participation pursuant to this Section 2.04 to refinance  such Tranche 1 Lender’s Applicable Tranche 1 Percentage of any Swing Line Loan, interest in respect of  such Applicable Tranche 1 Percentage shall be solely for the account of the applicable Swing Line Lender.         (f)   Payments Directly to Swing Line Lender.  The applicable Borrower shall make all  payments of principal and interest in respect of its Swing Line Loans directly to the applicable Swing Line  Lender.         2.05  Prepayments.  (a) Each Borrower may, upon notice from the Company to the  Administrative Agent, at any time or from time to time voluntarily prepay Committed Loans in whole or in  part without premium or penalty; provided that (i) such notice must be in a form reasonably acceptable to  the Administrative Agent (including any form on an electronic platform or electronic transmission system  as shall be approved by the Administrative Agent), appropriately completed and signed by a Responsible                                            54 

 

     Officer, and received by the Administrative Agent not later than 11:00 a.m. (A) three Business Days prior   to any date of prepayment of Eurocurrency Rate Loans denominated in Dollars, (B) four Business Days (or   five, in the case of prepayment of Loans denominated in Special Notice Currencies) prior to any date of   prepayment of Eurocurrency Rate Loans denominated in Alternative Currencies  and (C) on the date of   prepayment of Base Rate Committed Loans; (ii) any prepayment of Eurocurrency Rate Loans denominated   in Dollars shall be in a principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof;   (iii) any prepayment of Eurocurrency Rate Loans denominated in Alternative Currencies shall be in a   minimum principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof; and (iv) any   prepayment of Base Rate Committed Loans shall be in a principal amount of $1,000,000 or a whole multiple   of $500,000 in excess thereof or, in each case, if less, the entire principal amount thereof then outstanding.    Each such notice shall specify the date and amount of such prepayment, the Type(s) of Committed Loans   to be prepaid, and the applicable Tranche, and, if Eurocurrency Rate Loans are to be prepaid, the Interest   Period(s) of such Loans, and any such notice may state that it is conditioned upon the occurrence or non-  occurrence of any event specified therein (including the effectiveness of other credit facilities), in which   case such notice may be revoked by the Company (by written notice to the Administrative Agent on or   prior to the specified effective date) if such condition is not satisfied.  The Administrative Agent will   promptly notify each Tranche 1 Lender of its receipt of each such notice in respect of any Tranche 1 Loans,   and of the amount of such Tranche 1 Lender’s Applicable Tranche 1 Percentage of such prepayment and   will promptly notify each Tranche 2 Lender of its receipt of each such notice in respect of any Tranche 2   Loans, and of the amount of such Tranche 2 Lender’s Applicable Tranche 2 Percentage of such prepayment.    Following such notice by the Company, the applicable Borrower shall make such prepayment and the   payment amount specified in such notice shall be due and payable on the date specified therein.  Any   prepayment of a Eurocurrency Rate Loan shall be accompanied by all accrued interest on the amount   prepaid, together with any additional amounts required pursuant to Section 3.05.  Subject to Section 2.17,   each such prepayment of Tranche 1 Loans shall be applied to the Tranche 1 Loans of the Tranche 1 Lenders   in accordance with their respective Applicable Tranche 1 Percentages and each such prepayment of Tranche   2 Loans shall be applied to the Tranche 2 Loans of the Tranche 2 Lenders in accordance with their respective   Applicable Tranche 2 Percentages.  The Company shall use commercially reasonable efforts to the extent   practicable (taking into account the minimum denominations required for prepayments) to allocate   prepayments hereunder such that, after giving pro forma effect to each such prepayment, the percentage of   unused Tranche 1 Commitments relative to the Aggregate Tranche 1 Commitments and unused Tranche 2   Commitments relative to the Aggregate Tranche 2 Commitments are approximately equal; provided that,   the failure to maintain such approximately equal percentages shall not be a Default or Event of Default  hereunder.          (b)   The applicable Borrower may, upon notice to the applicable Swing Line Lender (with a   copy to the Administrative Agent), at any time or from time to time, voluntarily prepay Swing Line Loans   in whole or in part without premium or penalty; provided that (i) such notice must be received by the   applicable Swing Line Lender and the Administrative Agent not later than 1:00 p.m. Eastern time (in the   case of Dollar-denominated Swing Line Loans) or 11:00 a.m. London time (in the case of Euro-  denominated Swing Line Loans) on the date of the prepayment, and (ii) any such prepayment shall be in a   minimum principal amount of $100,000/€100,000. Each such notice shall specify the date and amount of   such prepayment. If such notice is given by the applicable Borrower, the applicable Borrower shall make   such prepayment and the payment amount specified in such notice shall be due and payable on the date   specified therein.          (c)                   (i)   If the Administrative Agent notifies the Company at any time that the Total         Tranche 1 Outstandings at such time exceed an amount equal to 105% of the Aggregate Tranche 1                                               55 

 

           Commitments then in effect, then, within two Business Days after receipt of such notice, the         Borrowers shall prepay Tranche 1 Loans and/or the Company shall Cash Collateralize the L/C         Obligations in an aggregate amount sufficient to reduce such Outstanding Amount as of such date         of payment to an amount not to exceed 100% of the Aggregate Tranche 1 Commitments then in         effect; provided, however, that, subject to the provisions of Section 2.16(a), the Company shall not         be required to Cash Collateralize the L/C Obligations pursuant to this Section 2.05(c) unless after         the prepayment in full of the Tranche 1 Loans, the Total Tranche 1 Outstandings exceed the         Aggregate Tranche 1 Commitments then in effect.  The Administrative Agent may, at any time and         from time to time after the initial deposit of such Cash Collateral, request that additional Cash         Collateral be provided in order to protect against the results of exchange rate fluctuations.                (ii) If the Administrative Agent notifies the Company at any time that the Total        Tranche 2 Outstandings at such time exceed an amount equal to 105% of the Aggregate Tranche 2        Commitments then in effect, then, within two Business Days after receipt of such notice, the        Borrowers shall prepay Tranche 2 Loans in an aggregate amount sufficient to reduce such        Outstanding Amount as of such date of payment to an amount not to exceed 100% of the Aggregate        Tranche 2 Commitments then in effect.         2.06  Termination or Reduction of Commitments.          (a)   The Company may, upon notice to the Administrative Agent, terminate the Aggregate  Tranche 1 Commitments, or from time to time permanently reduce the Aggregate Tranche 1 Commitments;  provided that (i) any such notice shall be received by the Administrative Agent not later than 11:00 a.m.   five Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in   an aggregate amount of $10,000,000 or any whole multiple of $1,000,000 in excess thereof, (iii) the   Company shall not terminate or reduce the Aggregate Tranche 1 Commitments if, after giving effect thereto   and to any concurrent prepayments hereunder, the Total Tranche 1 Outstandings would exceed the   Aggregate Tranche 1 Commitments, (iv) if, after giving effect to any reduction of the Aggregate Tranche   1 Commitments, the Letter of Credit Sublimit or the Swing Line Sublimit exceeds the amount of the   Aggregate Tranche 1 Commitments, such Sublimit shall be automatically reduced by the amount of such   excess; provided that any such reduction in the Sublimit shall be allocated between the Letter of Credit   Sublimit, the Swing Line Dollar Sublimit and the Swing Line Euro Sublimit as directed by the Company   and, in the absence of such direction, pro rata among the Swing Line Dollar Sublimit, the Swing Line Euro   Sublimit and the Letter of Credit Sublimit, (v) no such reduction or termination under any Tranche  hereunder shall be permitted unless a reduction or termination is made simultaneously under the other  Tranche on a pro rata basis, and (vi) any such notice may state that it is conditioned upon the occurrence or  non-occurrence of any event specified therein (including the effectiveness of other credit facilities), in  which case such notice may be revoked by the Company (by written notice to the Administrative Agent on  or prior to the specified effective date) if such condition is not satisfied.  The Administrative Agent will  promptly notify the Lenders of any such notice of termination or reduction of the Aggregate Tranche 1  Commitments.  The amount of any such Aggregate Tranche 1 Commitment reduction shall not be applied  to the Letter of Credit Sublimit or the Swing Line Sublimit unless otherwise specified by the Company.   Any reduction of the Aggregate Tranche 1 Commitments shall be applied to the Tranche 1 Commitment of  each Tranche 1 Lender according to its Applicable Tranche 1 Percentage (other than a reduction pursuant  to Section 2.14(f)).  All fees accrued until the effective date of any termination of the Aggregate Tranche 1   Commitments shall be paid on the effective date of such termination.          (b)   The Company may, upon notice to the Administrative Agent, terminate the Aggregate  Tranche 2 Commitments, or from time to time permanently reduce the Aggregate Tranche 2 Commitments;  provided that (i) any such notice shall be received by the Administrative Agent not later than 11:00 a.m.                                               56 

 

     five Business Days prior to the date of termination or reduction, (ii) any such partial reduction shall be in   an aggregate amount of $10,000,000 or any whole multiple of $1,000,000 in excess thereof, (iii) the   Company shall not terminate or reduce the Aggregate Tranche 2 Commitments if, after giving effect thereto   and to any concurrent prepayments hereunder, the Total Tranche 2 Outstandings would exceed the   Aggregate Tranche 2 Commitments, (iv) no such reduction or termination under any Tranche hereunder   shall be permitted unless a reduction or termination is made simultaneously under the other Tranche on a   pro rata basis, and (v) any such notice may state that it is conditioned upon the occurrence or non-occurrence   of any event specified therein (including the effectiveness of other credit facilities), in which case such   notice may be revoked by the Company (by written notice to the Administrative Agent on or prior to the   specified effective date) if such condition is not satisfied.  The Administrative Agent will promptly notify   the Lenders of any such notice of termination or reduction of the Aggregate Tranche 2 Commitments.  Any   reduction of the Aggregate Tranche 2 Commitments shall be applied to the Tranche 2 Commitment of each   Tranche 2 Lender according to its Applicable Tranche 2 Percentage (other than a reduction pursuant to   Section 2.14(f)).  All fees accrued until the effective date of any termination of the Aggregate Tranche 2   Commitments shall be paid on the effective date of such termination.          2.07  Repayment of Loans.  (a) (a) Each Borrower shall repay to the Tranche 1 Lenders on the   Maturity Date the aggregate principal amount of Tranche 1 Loans made to such Borrower outstanding on   such date.          (b)   Each Borrower shall repay to the Tranche 2 Lenders on the Maturity Date the aggregate  principal amount of Tranche 2 Loans made to such Borrower outstanding on such date.          (c)   The Company shall repay each Swing Line Loan on the earlier to occur of (i) the date ten  Business Days after such Loan is made and (ii) the Maturity Date.          2.08  Interest. (a)  Subject to the provisions of subsection (b) below, (i) each Eurocurrency Rate   Loan shall bear interest on the outstanding principal amount thereof for each Interest Period at a rate per   annum equal to the Eurocurrency Rate for such Interest Period plus the Applicable Rate; (ii) each Base Rate   Committed Loan shall bear interest on the outstanding principal amount thereof from the applicable   borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate; and (iii) (x) each Swing   Line Loan denominated in Dollars shall bear interest on the outstanding principal amount thereof from the   applicable borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate and (y) each   Swing Line Loan denominated in Euros shall bear interest on the outstanding principal amount thereof from   the applicable borrowing date at a rate per annum equal to the Euro Overnight Rate plus the Applicable   Rate for Eurocurrency Rate Loans.          (b)   (i)  (i)If any amount of principal of any Loan is not paid when due (without regard to any   applicable grace periods), whether at stated maturity, by acceleration or otherwise, such amount shall   thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the   fullest extent permitted by applicable Laws.                (ii) If any amount (other than principal of any Loan) payable by any Borrower under        any Loan Document is not paid when due (without regard to any applicable grace periods), whether        at stated maturity, by acceleration or otherwise, then upon the request of the Required Lenders,        such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal        to the Default Rate to the fullest extent permitted by applicable Laws.               (iii) [Reserved].                                                57 

 

                (iv)   Accrued and unpaid interest on past due amounts (including interest on past due        interest) shall be due and payable upon demand.         (c)   Interest on each Loan shall be due and payable in arrears on each Interest Payment Date  applicable thereto and at such other times as may be specified herein.  Interest hereunder shall be due and  payable in accordance with the terms hereof before and after judgment, and before and after the  commencement of any proceeding under any Debtor Relief Law.          2.09  Fees.  In addition to certain fees described in subsections (h) and (i) of Section 2.03:          (a)   Facility Fees.    (i) (i) The Company shall pay to the Administrative Agent for the account   of each Tranche 1 Lender in accordance with its Applicable Tranche 1 Percentage, a facility fee (the   “Tranche 1 Facility Fee”) in Dollars equal to the Applicable Rate times the actual daily amount of the   Aggregate Tranche 1 Commitments (or, if the Aggregate Tranche 1 Commitments have terminated, on the   Total Tranche 1 Outstandings), regardless of usage, subject to adjustment as provided in Section 2.17.  The   Tranche 1 Facility Fee shall accrue at all times during the Availability Period (and thereafter so long as any   Tranche 1 Loans, Swing Line Loans or L/C Obligations remain outstanding), including at any time during   which one or more of the conditions in Article IV is not met, and shall be due and payable quarterly in   arrears on the last Business Day of each March, June, September and December, commencing with the first   such date to occur after the Closing Date, and on the last day of the Availability Period (and, if applicable,   thereafter on demand).  The Tranche 1 Facility Fee shall be calculated quarterly in arrears, and if there is   any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and   multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate   was in effect.                (ii) The Company shall pay to the Administrative Agent for the account of each        Tranche 2 Lender in accordance with its Applicable Tranche 2 Percentage, a facility fee (the        “Tranche 2 Facility Fee”) in Dollars equal to the Applicable Rate times the actual daily amount of         the Aggregate Tranche 2 Commitments (or, if the Aggregate Tranche 2 Commitments have         terminated, on the Total Tranche 2 Outstandings), regardless of usage, subject to adjustment as         provided in Section 2.17.  The Tranche 2 Facility Fee shall accrue at all times during the         Availability Period (and thereafter so long as any Tranche 2 Loans remain outstanding), including         at any time during which one or more of the conditions in Article IV is not met, and shall be due         and payable quarterly in arrears on the last Business Day of each March, June, September and         December, commencing with the first such date to occur after the Closing Date, and on the last day         of the Availability Period (and, if applicable, thereafter on demand).  The Tranche 2 Facility Fee         shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any         quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately        for each period during such quarter that such Applicable Rate was in effect.          (b)   Other Fees.  (i) The Company shall pay to the Arrangers and Administrative Agent for their   own respective accounts, in Dollars, fees in the amounts and at the times specified in the Fee Letters.  Such   fees shall be fully earned when paid and shall not be refundable for any reason whatsoever.                (ii) (ii)The Company shall pay to the Lenders, in Dollars, such fees as shall have been         separately agreed upon in writing in the amounts and at the times so specified.  Such fees shall be         fully earned when paid and shall not be refundable for any reason whatsoever.          2.10  Computation of Interest and Fees.  All computations of interest for Base Rate Loans  (including Base Rate Loans determined by reference to the Eurocurrency Rate) shall be made on the basis                                               58 

 

     of a year of 365 or 366 days, as the case may be, and actual days elapsed.  All other computations of fees   and interest shall be made on the basis of a 360-day year and actual days elapsed (which results in more  fees or interest, as applicable, being paid than if computed on the basis of a 365-day year), or, in the case  of interest in respect of Committed Loans denominated in Alternative Currencies as to which market  practice differs from the foregoing, in accordance with such market practice.  Interest shall accrue on each  Loan for the day on which the Loan is made, and shall not accrue on a Loan, or any portion thereof, for the  day on which the Loan or such portion is paid, provided that any Loan that is repaid on the same day on   which it is made shall, subject to Section 2.12(a), bear interest for one day.  Each determination by the   Administrative Agent of an interest rate or fee hereunder shall be conclusive and binding for all purposes,   absent manifest error.  With respect to all Non-LIBOR Quoted Currencies, the calculation of the applicable   interest rate shall be determined in accordance with market practice.          2.11  Evidence of Debt.  (a)  The Credit Extensions made by each Lender shall be evidenced by   one or more accounts or records maintained by such Lender and by the Administrative Agent in the ordinary   course of business.  The accounts or records maintained by the Administrative Agent and each Lender shall   be conclusive absent manifest error of the amount of the Credit Extensions made by the Lenders to the   Borrowers and the interest and payments thereon.  Any failure to so record or any error in doing so shall   not, however, limit or otherwise affect the obligation of the Borrowers hereunder to pay any amount owing   with respect to the Obligations.  In the event of any conflict between the accounts and records maintained   by any Lender and the accounts and records of the Administrative Agent in respect of such matters, the   accounts and records of the Administrative Agent shall control in the absence of manifest error.  Upon the   request of any Lender to a Borrower made through the Administrative Agent, such Borrower shall execute   and deliver to such Lender (through the Administrative Agent) a Note, which shall evidence such Lender’s   Loans to such Borrower in addition to such accounts or records.  Each Lender may attach schedules to a   Note and endorse thereon the date, Type (if applicable), amount, currency and maturity of its Loans and   payments with respect thereto.          (b)   In addition to the accounts and records referred to in subsection (a) above, each Tranche 1   Lender and the Administrative Agent shall maintain in accordance with its usual practice accounts or   records evidencing the purchases and sales by such Tranche 1 Lender of participations in Letters of Credit   and Swing Line Loans.  In the event of any conflict between the accounts and records maintained by the   Administrative Agent and the accounts and records of any Tranche 1 Lender in respect of such matters, the   accounts and records of the Administrative Agent shall control in the absence of manifest error.          2.12  Payments Generally; Administrative Agent’s Clawback.  (a)  General.  All payments   to be made by the Borrowers shall be made free and clear of and without condition or deduction for any   counterclaim, defense, recoupment or setoff.  Except as otherwise expressly provided herein and except   with respect to principal of and interest on Loans denominated in an Alternative Currency, all payments by   the Borrowers hereunder shall be made to the Administrative Agent, for the account of the Appropriate   Lenders to which such payment is owed, at the applicable Administrative Agent’s Office in Dollars and in   Same Day Funds not later than 2:00 p.m. on the date specified herein.  Except as otherwise expressly   provided herein, all payments by the Borrowers hereunder with respect to principal and interest on Loans   denominated in an Alternative Currency shall be made to the Administrative Agent, for the account of the   Appropriate Lenders to which such payment is owed, at the applicable Administrative Agent’s Office in   such Alternative Currency and in Same Day Funds not later than the Applicable Time specified by the   Administrative Agent on the dates specified herein. Without limiting the generality of the foregoing, the   Administrative Agent may require that any payments due under this Agreement be made in the United   States.  If, for any reason, any Borrower is prohibited by any Law from making any required payment   hereunder in an Alternative Currency, such Borrower shall make such payment in Dollars in the Dollar   Equivalent of the Alternative Currency payment amount.  The Administrative Agent will promptly                                               59 

 

    distribute to each Appropriate Lender its Applicable Percentage (or other applicable share as provided  herein) of such payment in like funds as received by wire transfer to such Lender’s Lending Office.  All  payments received by the Administrative Agent (i) after 2:00 p.m., in the case of payments in Dollars, or   (ii) after the Applicable Time specified by the Administrative Agent in the case of payments in an   Alternative Currency, shall in each case be deemed received on the next succeeding Business Day and any   applicable interest or fee shall continue to accrue.  If any payment to be made by any Borrower shall come   due on a day other than a Business Day, payment shall be made on the next following Business Day, and   such extension of time shall be reflected in computing interest or fees, as the case may be.          (b)   (i)  Funding by Lenders; Presumption by Administrative Agent.  Unless the Administrative   Agent shall have received notice from an Appropriate Lender prior to the proposed date of any Committed   Borrowing of Eurocurrency Rate Loans (or, in the case of any Committed Borrowing of Base Rate Loans,   prior to 12:00 noon on the date of such Committed Borrowing) that such Appropriate Lender will not make  available to the Administrative Agent such Appropriate Lender’s share of such Committed Borrowing, the  Administrative Agent may assume that such Appropriate Lender has made such share available on such  date in accordance with Section 2.02 (or, in the case of a Committed Borrowing of Base Rate Loans, that   such Lender has made such share available in accordance with and at the time required by Section 2.02)   and may, in reliance upon such assumption, make available to the applicable Borrower a corresponding   amount.  In such event, if an Appropriate Lender has not in fact made its share of the applicable Committed   Borrowing available to the Administrative Agent, then the applicable Appropriate Lender and the   applicable Borrower severally agree to pay to the Administrative Agent forthwith on demand such   corresponding amount in Same Day Funds with interest thereon, for each day from and including the date   such amount is made available to such Borrower to but excluding the date of payment to the Administrative   Agent, at (A) in the case of a payment to be made by such Lender, the Overnight Rate, plus any   administrative, processing or similar fees customarily charged by the Administrative Agent in connection   with the foregoing,  and (B) in the case of a payment to be made by such Borrower, the interest rate  applicable to Base Rate Loans.  If such Borrower and such Lender shall pay such interest to the  Administrative Agent for the same or an overlapping period, the Administrative Agent shall promptly remit  to such Borrower the amount of such interest paid by such Borrower for such period.  If such Lender pays  its share of the applicable Committed Borrowing to the Administrative Agent, then the amount so paid shall  constitute such Lender’s Committed Loan included in such Committed Borrowing.  Any payment by such  Borrower shall be without prejudice to any claim such Borrower may have against a Lender that shall have  failed to make such payment to the Administrative Agent.                (ii) (ii)Payments by Borrowers; Presumptions by Administrative Agent.  Unless the         Administrative Agent shall have received notice from a Borrower prior to the date on which any         payment is due to the Administrative Agent for the account of the Appropriate Lenders or the         applicable L/C Issuer hereunder that such Borrower will not make such payment, the         Administrative Agent may assume that such Borrower has made such payment on such date in         accordance herewith and may, in reliance upon such assumption, distribute to the Appropriate         Lenders or such L/C Issuer, as the case may be, the amount due.  In such event, if such Borrower         has not in fact made such payment, then each of the Appropriate Lenders or the applicable L/C         Issuer, as the case may be, severally agrees to repay to the Administrative Agent forthwith on         demand the amount so distributed to such Appropriate Lender or such L/C Issuer, in Same Day         Funds with interest thereon, for each day from and including the date such amount is distributed to         it to but excluding the date of payment to the Administrative Agent, at the Overnight Rate.          A notice of the Administrative Agent to any Lender or Borrower with respect to any amount  owing under this subsection (b) shall be conclusive, absent manifest error.                                                60 

 

           (c)   Failure to Satisfy Conditions Precedent.  If any Lender makes available to the   Administrative Agent funds for any Loan to be made by such Lender to any Borrower as provided in the   foregoing provisions of this Article II, and such funds are not made available to such Borrower by the   Administrative Agent because the conditions to the applicable Credit Extension set forth in Article IV are   not satisfied or waived in accordance with the terms hereof, the Administrative Agent shall return such   funds (in like funds as received from such Lender) to such Lender, without interest.          (d)   Obligations of Lenders Several.  The obligations of the Lenders hereunder to make   Committed Loans and to make payments pursuant to Section 11.04(c), and of the Tranche 1 Lenders to   fund participations in Letters of Credit and Swing Line Loans, are several and not joint.  The failure of any   Lender to make any Committed Loan, to fund any such participation or to make any payment under Section   11.04(c) on any date required hereunder shall not relieve any other Lender of its corresponding obligation   to do so on such date, and no Lender shall be responsible for the failure of any other Lender to so make its   Committed Loan, to purchase its participation or to make its payment under Section 11.04(c).          (e)   Funding Source.  Nothing herein shall be deemed to obligate any Lender to obtain the funds   for any Loan in any particular place or manner or to constitute a representation by any Lender that it has   obtained or will obtain the funds for any Loan in any particular place or manner.          2.13  Sharing of Payments by Lenders.  If any Lender shall, by exercising any right of setoff   or counterclaim or otherwise, obtain payment in respect of any principal of or interest on any of the   Committed Loans made by it, or the participations in L/C Obligations or in Swing Line Loans held by it   resulting in such Lender’s receiving payment of a proportion of the aggregate amount of such Committed   Loans or participations and accrued interest thereon greater than its pro rata share thereof as provided   herein, then the Lender receiving such greater proportion shall (a) notify the Administrative Agent of such   fact, and (b) purchase (for cash at face value) participations in the Committed Loans in the Tranche in   respect of which it is an Appropriate Lender and (in the case of Tranche 1 Lenders) subparticipations in   L/C Obligations and Swing Line Loans of the other Tranche 1 Lenders, or make such other adjustments as   shall be equitable, so that the benefit of all such payments shall be shared by the Lenders ratably in   accordance with the aggregate amount of principal of and accrued interest on their respective Committed   Loans and other amounts owing them, provided that:                (i)   if any such participations or subparticipations are purchased and all or any portion        of the payment giving rise thereto is recovered, such participations or subparticipations shall be        rescinded and the purchase price restored to the extent of such recovery, without interest; and                (ii) the provisions of this Section shall not be construed to apply to (x) any payment        made by or on behalf of any Borrower pursuant to and in accordance with the express terms of this        Agreement (including the application of funds arising from the existence of a Defaulting Lender),        (y) the application of Cash Collateral provided for in Section 2.16, or (z) any payment obtained by         a Lender as consideration for the assignment of or sale of a participation in any of its Committed         Loans or subparticipations in L/C Obligations or Swing Line Loans to any assignee or participant,         other than an assignment to the Facility Guarantor or any Subsidiary thereof (as to which the        provisions of this Section shall apply).          Each Loan Party consents to the foregoing and agrees, to the extent it may effectively do so under  applicable law, that any Lender acquiring a participation pursuant to the foregoing arrangements may  exercise against such Loan Party rights of setoff and counterclaim with respect to such participation as  fully as if such Lender were a direct creditor of such Loan Party in the amount of such participation.                                                61 

 

          2.14  Designated Borrowers.         (a)   Effective as of the date hereof, (i) each of the Company, Discovery Communications  Europe, DNI Global LLP, a limited liability partnership organized under the laws of England and Wales,  Discovery Networks Asia-Pacific Pte. Ltd., a Singapore company limited by shares, Discovery Corporate   Services Limited, a company organized under the laws of England and Wales, Discovery Networks, S.L.,   a Spanish private limited liability company (sociedad de responsabilidad limitada), and Discovery   Luxembourg Holdings 1 S.à r.l., a private limited liability company (société à responsabilité limitée)   incorporated under the laws of the Grand Duchy of Luxembourg, registered with the Luxembourg Register   of Commerce and Companies under number B-177720, having its registered office at 9A, rue Robert   Stümper, L-2557 Luxembourg, Grand Duchy of Luxembourg and having a share capital of $168,090,234,   shall be a “Designated Borrower” under Tranche 1 and may receive Tranche 1 Loans for its account on the   terms and subject to satisfaction of the conditions set forth in this Agreement and (ii) each of the Company,   Discovery Communications Europe, DNI Global LLP, a limited liability partnership organized under the   laws of England and Wales, Discovery Corporate Services Limited, a company organized under the laws   of England and Wales, and Discovery Luxembourg Holdings 1 S.à r.l., a private limited liability company   (société à responsabilité limitée) incorporated under the laws of the Grand Duchy of Luxembourg,   registered with the Luxembourg Register of Commerce and Companies under number B-177720, having   its registered office at 9A, rue Robert Stümper, L-2557 Luxembourg, Grand Duchy of Luxembourg and   having a share capital of $168,090,234, shall be a “Designated Borrower” under Tranche 2 and may receive   Tranche 2 Loans for its account on the terms and subject to satisfaction of the conditions set forth in this   Agreement.          (b)   The Company may at any time, upon not less than 14 Business Days’ notice from the  Company to the Administrative Agent (or such shorter period as may be agreed by the Administrative   Agent in its sole discretion), request the designation of any additional wholly-owned Subsidiary of the   Company (an “Applicant Borrower”) as a Designated Borrower to receive Loans hereunder by (i) delivering   to the Administrative Agent (which shall promptly deliver counterparts thereof to each Lender) a duly   executed notice and agreement in substantially the form of Exhibit H (a “Designated Borrower Request and   Assumption Agreement”) and (ii) promptly following a request by the Administrative Agent or any   Appropriate Lender under the applicable Tranche, providing all documentation and other information that   the Administrative Agent or such Appropriate Lender reasonably requests in order to comply with its   ongoing obligations under applicable “know your customer” and anti-money laundering rules and  regulations, including the Act (such obligations, collectively, the “KYC Obligations”).  The parties hereto   acknowledge and agree that prior to any Applicant Borrower becoming entitled to utilize the credit facilities   provided for herein (a) the Administrative Agent and the Appropriate Lenders under the applicable Tranche   shall have received such supporting resolutions, incumbency certificates, opinions of counsel and other   documents or information, in form, content and scope reasonably satisfactory to the Administrative Agent,   as may be required by the Administrative Agent or the Appropriate Lenders under the applicable Tranche   in their sole discretion (but which in no event shall be significantly more onerous, taken as a whole, to the   Company or any of its Subsidiaries than the equivalent documents delivered by the Company or a   Designated Borrower in Article IV hereof, except as necessary to comply with the equivalent conditions   under the applicable law of the jurisdiction of such Applicant Borrower), and Notes signed by such new   Borrowers to the extent any Appropriate Lenders so require and (b) each Appropriate Lender under the   applicable Tranche shall have complied with its KYC Obligations and be satisfied with the results thereof.    In connection with any such approval consideration, the Administrative Agent and the Required Tranche 1   Lenders or Required Tranche 2 Lenders, as the case may be, may request of the Company an amendment   to the Credit Agreement to the extent necessary or advisable in their determination to comply with, qualify   under or avoid registration pursuant to jurisdictional laws and regulations applicable to such Applicant   Borrower (as an example, for the avoidance of doubt, amending the Credit Agreement to impose greater                                               62 

 

     borrowing minimums for a specific Designated Borrower).  If the Administrative Agent and all the   Appropriate Lenders under a Tranche approve the Company’s request and agree that an Applicant Borrower   shall become a Designated Borrower and be entitled to receive Loans hereunder, then promptly following   receipt of all such requested resolutions, incumbency certificates, opinions of counsel and other documents   or information, the Administrative Agent shall send a notice in substantially the form of Exhibit I (a   “Designated Borrower Notice”) to the Company and the Lenders specifying the effective date upon which   the Applicant Borrower shall constitute a Designated Borrower for purposes hereof and under which   Tranche or Tranches the Applicant Borrower will be eligible to borrow, whereupon each of the Lenders   agrees to permit such Designated Borrower to receive Loans hereunder under the Tranche or Tranches   designated in the Designated Borrower Notice, on the terms and conditions set forth herein, and each of the   parties agrees that such Designated Borrower otherwise shall be a Borrower for all purposes of this   Agreement; provided that no Committed Loan Notice or Letter of Credit Application may be submitted by   or on behalf of such Designated Borrower until the date five Business Days after such effective date;   provided, further, that Base Rate Loans may not be made to any Designated Borrower that is a Foreign   Subsidiary.  For the avoidance of doubt, no Subsidiary organized under the Laws of Spain or Singapore   will be permitted to borrow under Tranche 2.          (c)   The Obligations of all Designated Borrowers that are Foreign Subsidiaries (i) shall be  several in nature, and each such Foreign Subsidiary shall be liable solely for the Obligations directly  incurred by it as a Designated Borrower hereunder, and (ii) shall be guaranteed by the Company and the  Facility Guarantor.          (d)   Each Subsidiary of the Company that is or becomes a “Designated Borrower” pursuant to   this Section 2.14 hereby irrevocably appoints the Company as its agent for all purposes relevant to this   Agreement and each of the other Loan Documents, including (i) the giving and receipt of notices, (ii) the   execution and delivery of all documents, instruments and certificates contemplated herein and all   modifications hereto, and (iii) the receipt of the proceeds of any Loans made by the Lenders to any such   Designated Borrower hereunder.  Any acknowledgment, consent, direction, certification or other action   which might otherwise be valid or effective only if given or taken by all Borrowers, or by each Borrower   acting singly, shall be valid and effective if given or taken only by the Company, whether or not any such   other Borrower joins therein.  Any notice, demand, consent, acknowledgement, direction, certification or  other communication delivered to the Company in accordance with the terms of this Agreement shall be  deemed to have been delivered to each Designated Borrower.          (e)   The Company may from time to time, upon not less than 15 Business Days’ notice from  the Company to the Administrative Agent (or such shorter period as may be agreed by the Administrative  Agent in its sole discretion), terminate a Designated Borrower’s status, provided that there are no   outstanding Loans payable by such Designated Borrower, or other amounts payable by such Designated   Borrower on account of any Loans made to it, as of the effective date of such termination. The   Administrative Agent will promptly notify the Lenders of any such termination of a Designated Borrower’s   status.          (f)                   (i)   If the Company shall designate a Subsidiary as a Designated Borrower hereunder         that is a Foreign Subsidiary, any Lender may, with notice to the Administrative Agent and the         Company, fulfill its Commitment by causing an Affiliate of such Lender to act as the Lender in         respect of such Designated Borrower.  Additionally, (x) such Lender’s obligations under this         Agreement shall remain unchanged, (y) such Lender shall remain solely responsible to the other         parties hereto for the performance of those obligations, and (z) the Borrowers, the Administrative                                               63 

 

        Agent, the Lenders and the L/C Issuers shall continue to deal solely and directly with such Lender       in connection with such Lender’s rights and obligations under this Agreement.               (ii) As soon as practicable after receiving notice from the Company or the       Administrative Agent of the Company’s intent to designate a Subsidiary as a Designated Borrower,       and in any event no later than five Business Days after the delivery of such notice, for a Foreign       Subsidiary, any Lender under the applicable Tranche or Tranches that may not legally lend to,       establish credit for the account of and/or do any business whatsoever with such Designated       Borrower directly or through an Affiliate of such Lender as provided in the immediately preceding       paragraph (a “Protesting Lender”) shall so notify the Company and the Administrative Agent in        writing. With respect to each Protesting Lender, the Company shall, effective on or before the date        that such Designated Borrower shall have the right to borrow hereunder, either (A) notify the        Administrative Agent and such Protesting Lender that the Commitments of such Protesting Lender        shall be terminated; provided that such Protesting Lender shall have received payment of an amount        equal to the outstanding principal of its Loans, accrued interest thereon, accrued fees and all other        amounts payable to it hereunder, from (if such Protesting Lender’s Commitments are assigned) the        assignee (to the extent of such outstanding principal and accrued interest and fees) or the Company        or the relevant Designated Borrower (in the case an assignment, of all other amounts or, if such        Commitments are terminated, of such outstanding principal and accrued interest, fees and other        amounts), or (B) cancel its request to designate such Subsidiary as a “Designated Borrower”        hereunder.         2.15  Increase in Commitments.         (a)   Request for Increase.  Provided there exists no Default, upon notice to the Administrative  Agent (which shall promptly notify the Lenders), the Company may from time to time, request an increase  in the Aggregate Tranche 1 Commitments by an amount (for all such requests) not exceeding  $500,000,000; provided that any such request for an increase shall be in a minimum amount of  $100,000,000 for such Tranche 1 Commitments. At the time of sending such notice, the Company (in  consultation with the Administrative Agent) shall specify the time period within which each Appropriate  Lender under Tranche 1 is requested to respond (which shall in no event be less than ten Business Days  from the date of delivery of such notice to the Lenders).         (b)   Lender Elections to Increase.  Each Appropriate Lender under Tranche 1 shall notify the  Administrative Agent within such time period whether or not it agrees to increase its Tranche 1  Commitment, and, if so, whether by an amount equal to, greater than, or less than its Applicable Percentage  of such requested increase.  Any Appropriate Lender under Tranche 1 not responding within such time  period shall be deemed to have declined to increase any Commitment provided by it hereunder. For the  avoidance of doubt, no Lender shall be required to increase its Commitment hereunder.         (c)   Notification by Administrative Agent; Additional Lenders.  The Administrative Agent  shall notify the Company and each Lender of the Appropriate Lenders under Tranche 1’s responses to each  request made hereunder.  To achieve the full amount of a requested increase, and subject to the approval of  the Administrative Agent, the L/C Issuers and Swing Line Lender (which approvals shall not be  unreasonably withheld), the Company may also invite additional Eligible Assignees to become Tranche 1  Lenders pursuant to a joinder agreement in form and substance satisfactory to the Administrative Agent  and its counsel.         (d)   Effective Date and Allocations.  If the Aggregate Tranche 1 Commitments are increased  in accordance with this Section, the Administrative Agent and the Company shall determine the effective                                            64 

 

     date (the “Increase Effective Date”) and the final allocation of such increase.  The Administrative Agent   shall promptly notify the Company and the Lenders of the final allocation of such increase and the Increase   Effective Date.          (e)   Conditions to Effectiveness of Increase.  As  a conditionconditions precedent to such   increase, (1) the Company shall deliver to the Administrative Agent a certificate of each Loan Party dated   as of the Increase Effective Date (in sufficient copies for each Appropriate Lender under Tranche 1) signed   by a Responsible Officer of such Loan Party (i) certifying and attaching the resolutions adopted by such   Loan Party approving or consenting to such increase, and (ii) in the case of the Company, certifying that,   before and after giving effect to such increase, (A) the representations and warranties contained in Article   V and the other Loan Documents are true and correct in all material respects (without duplication of any   materiality qualification included in the terms of any such representation or warranty) on and as of the   Increase Effective Date, except to the extent that such representations and warranties specifically refer to   an earlier date, in which case they are true and correct in all material respects (without duplication of any   materiality qualification included in the terms of any such representation or warranty) as of such earlier   date, and except that for purposes of this Section 2.15, the representations and warranties contained in   subsections (a) and (b) of Section 5.05 shall be deemed to refer to the most recent statements furnished   pursuant to clauses (a) and (b), respectively, of Section 6.01, and (B) no Default exists and (2) (i) upon the   reasonable request of any Appropriate Lender under Tranche 1 made at least ten (10) days prior to the   Increase Effective Date, each Borrower shall have provided to such Lender the documentation and other   information so requested in connection with its KYC Obligations, in each case at least five (5) days prior   to the Increase Effective Date and (ii) at least five (5) days prior to the Increase Effective Date, any   Borrower that qualifies as a “legal entity customer” under the Beneficial Ownership Regulation shall have   delivered, to each Appropriate Lender under Tranche 1 that so requests, a Beneficial Ownership   Certification in relation to such Borrower.  The Borrowers shall prepay any Committed Loans outstanding   on the Increase Effective Date (and pay any additional amounts required pursuant to Section 3.05) to the   extent necessary to keep the outstanding Committed Loans ratable with any revised Applicable Percentages   arising from any nonratable increase in the Commitments under this Section.          (f)   Conflicting Provisions.  This Section shall supersede any provisions in Section 2.13 or   11.01 to the contrary.          2.16  Cash Collateral.          (a)   Certain Credit Support Events.  If (i) any L/C Issuer has honored any full or partial drawing   request under any Letter of Credit and such drawing has resulted in an L/C Borrowing, (ii) as of the Letter   of Credit Expiration Date, any L/C Obligation for any reason remains outstanding, (iii) the Company shall  be required to provide Cash Collateral pursuant to Section 2.05(c)(i) or Section 8.02(c), or (iv) there shall   exist a Defaulting Lender, the Company shall immediately (in the case of clause (iii) above) or within one   Business Day (in all other cases) following any request by the Administrative Agent or the applicable L/C   Issuer, provide Cash Collateral in an amount not less than the applicable Minimum Collateral Amount   (determined in the case of Cash Collateral provided pursuant to clause (iv) above, after giving effect to   Section 2.17(a)(iv) and any Cash Collateral provided by the Defaulting Lender).  Additionally, if the   Administrative Agent notifies the Company at any time that the Outstanding Amount of all L/C Obligations   at such time exceeds 105% of the Letter of Credit Sublimit then in effect, then, within two Business Days   after receipt of such notice, the Company shall provide Cash Collateral for the Outstanding Amount of the   L/C Obligations in an amount not less than the amount by which the Outstanding Amount of all L/C   Obligations exceeds the Letter of Credit Sublimit.                                                 65 

 

           (b)   Grant of Security Interest.  The Company, and to the extent provided by any Defaulting   Lender, such Defaulting Lender, hereby grants to (and subjects to the control of) the Administrative Agent,   for the benefit of the Administrative Agent, the L/C Issuers and the Appropriate Lenders, and agrees to   maintain, a first priority security interest in all such cash, deposit accounts and all balances therein, and all   other property so provided as collateral pursuant hereto, and in all proceeds of the foregoing, all as security   for the obligations to which such Cash Collateral may be applied pursuant to Section 2.16(c).  If at any time   the Administrative Agent determines that Cash Collateral is subject to any right or claim of any Person   other than the Administrative Agent as herein provided, or that the total amount of such Cash Collateral is   less than the Minimum Collateral Amount, the Company will, promptly upon demand by the Administrative   Agent, pay or provide to the Administrative Agent additional Cash Collateral in an amount sufficient to   eliminate such deficiency. All Cash Collateral (other than credit support not constituting funds subject to   deposit) shall be maintained in blocked, non-interest bearing deposit accounts with the Administrative   Agent.  The Company shall pay on demand therefor from time to time all customary account opening,   activity and other administrative fees and charges in connection with the maintenance and disbursement of   Cash Collateral.          (c)   Application.  Notwithstanding anything to the contrary contained in this Agreement, Cash   Collateral provided under any of this Section 2.16 or Sections 2.03, 2.04, 2.05, 2.17 or 8.02 in respect of   Letters of Credit shall be held and applied to the satisfaction of the specific L/C Obligations, obligations to   fund participations therein (including, as to Cash Collateral provided by a Defaulting Lender, any interest   accrued on such obligation) and other obligations for which the Cash Collateral was so provided, prior to  any other application of such property as may otherwise be provided for herein.          (d)   Release.  Cash Collateral (or the appropriate portion thereof) provided to reduce Fronting   Exposure or to secure other obligations shall be released promptly following (i) the elimination of the   applicable Fronting Exposure or to secure other obligations giving rise thereto (including by the termination   of Defaulting Lender status of the applicable Lender (or, as appropriate, its assignee following compliance   with Section 11.06(b)(vi))) or (ii) the determination by the Administrative Agent and the applicable L/C   Issuer that there exists excess Cash Collateral; provided, however, (x) any such release shall be without   prejudice to, and any disbursement or other transfer of Cash Collateral shall be and remain subject to, any   other Lien conferred under the Loan Documents and the other applicable provisions of the Loan   Documents, (y) the Person providing Cash Collateral and the applicable L/C Issuer may agree that Cash   Collateral shall not be released but instead held to support future anticipated Fronting Exposure or other   obligations, and (z) no Cash Collateral shall be released if an Event of Default then exists or would result   from such release.          2.17  Defaulting Lenders.          (a)   Adjustments.  Notwithstanding anything to the contrary contained in this Agreement, if   any Lender becomes a Defaulting Lender, then, until such time as that Lender is no longer a Defaulting   Lender, to the extent permitted by applicable Law:                (i)   Waivers and Amendments.  Such Defaulting Lender’s right to approve or         disapprove any amendment, waiver or consent with respect to this Agreement shall be restricted as         set forth in the definitions of “Required Lenders,” “Required Tranche 1 Lenders,” and “Required         Tranche 2 Lenders” and Section 11.01.                (ii) Defaulting Lender Waterfall.  Any payment of principal, interest, fees or other         amounts received by the Administrative Agent for the account of such Defaulting Lender (whether         voluntary or mandatory, at maturity, pursuant to Article VIII or otherwise) or received by the                                               66 

 

                Administrative Agent from a Defaulting Lender pursuant to Section 11.08 shall be applied at such  time or times as may be determined by the Administrative Agent as follows: first, to the payment  of any amounts owing by such Defaulting Lender to the Administrative Agent hereunder; second,  to the payment on a pro rata basis of any amounts owing by such Defaulting Lender to the L/C  Issuers or the Swing Line Lenders hereunder; third, to Cash Collateralize the L/C Issuers’ Fronting  Exposure with respect to such Defaulting Lender in accordance with Section 2.16; fourth, as the  Company may request (so long as no Default exists), to the funding of any Loan in respect of which  such Defaulting Lender has failed to fund its portion thereof as required by this Agreement, as  determined by the Administrative Agent; fifth, if so determined by the Administrative Agent and  the Company, to be held in a deposit account and released pro rata in order to (x) satisfy such  Defaulting Lender’s potential future funding obligations with respect to Loans under this  Agreement and (y) Cash Collateralize the L/C Issuers’ future Fronting Exposure with respect to  such Defaulting Lender with respect to future Letters of Credit issued under this Agreement, in  accordance with Section 2.16; sixth, to the payment of any amounts owing to the Lenders, the L/C  Issuers or the Swing Line Lenders as a result of any judgment of a court of competent jurisdiction  obtained by any Lender, any L/C Issuer or any Swing Line Lender against such Defaulting Lender  as a result of such Defaulting Lender’s breach of its obligations under this Agreement; seventh, so  long as no Default exists, to the payment of any amounts owing to the Company as a result of any  judgment of a court of competent jurisdiction obtained by the Company against such Defaulting  Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement; and  eighth, to such Defaulting Lender or as otherwise directed by a court of competent jurisdiction;  provided that if (x) such payment is a payment of the principal amount of any Loans or L/C  Borrowings in respect of which such Defaulting Lender has not fully funded its appropriate share,  and (y) such Loans were made or the related Letters of Credit were issued at a time when the  conditions set forth in Section 4.02 were satisfied or waived, such payment shall be applied solely  to pay the Loans of, and L/C Obligations owed to, all Non-Defaulting Lenders on a pro rata basis  prior to being applied to the payment of any Loans of, or L/C Obligations owed to, such Defaulting  Lender until such time as all Loans and funded and unfunded participations in L/C Obligations and  Swing Line Loans are held by the Lenders pro rata in accordance with the Commitments hereunder  without giving effect to Section 2.17(a)(iv).  Any payments, prepayments or other amounts paid or  payable to a Defaulting Lender that are applied (or held) to pay amounts owed by a Defaulting  Lender or to post Cash Collateral pursuant to this Section 2.17(a)(ii) shall be deemed paid to and  redirected by such Defaulting Lender, and each Lender irrevocably consents hereto.         (iii) Certain Fees.               (A)  Each Defaulting Lender shall be entitled to receive fees payable under       Sections 2.09(a) for any period during which that Lender is a Defaulting Lender only to        extent allocable to the sum of (1) the Outstanding Amount of the Committed Loans funded        by it, and (2) its Applicable Percentage of the stated amount of Letters of Credit for which        it has provided Cash Collateral pursuant to Section 2.16.               (B)   Each Defaulting Lender which is a Tranche 1 Lender shall be entitled to       receive Letter of Credit Fees for any period during which that Tranche 1 Lender is a       Defaulting Lender only to the extent allocable to its Applicable Tranche 1 Percentage of       the stated amount of Letters of Credit for which it has provided Cash Collateral pursuant       to Section 2.16.               (C)   With respect to any fee payable under Section 2.09(a) or any Letter of        Credit Fee not required to be paid to any Defaulting Lender pursuant to clause (A) or                                                                67 

 

                 (B) above, the Company shall (x) pay to each Non-Defaulting Lender that portion of any               such fee otherwise payable to such Defaulting Lender with respect to such Defaulting               Lender’s participation in L/C Obligations or Swing Line Loans that has been reallocated               to such Non-Defaulting Lender pursuant to clause (iv) below, (y) pay to each applicable               L/C Issuer and each applicable Swing Line Lender, as applicable, the amount of any such               fee otherwise payable to such Defaulting Lender to the extent allocable to such L/C Issuer’s               or such Swing Line Lender’s Fronting Exposure to such Defaulting Lender, and (z) not be               required to pay the remaining amount of any such fee.                (iv)  Reallocation of Applicable Percentages to Reduce Fronting Exposure.  In the case         of Tranche 1 Commitments, all or any part of such Defaulting Lender’s participation in L/C         Obligations and Swing Line Loans shall be reallocated among the Non-Defaulting Lenders that are         Tranche 1 Lenders in accordance with their respective Applicable Tranche 1 Percentages         (calculated without regard to such Defaulting Lender’s Tranche 1 Commitment) but only to the         extent that (x) the conditions set forth in Section 4.02 are satisfied at the time of such reallocation,         or are subsequently satisfied, in which event such reallocation shall occur when such conditions         are satisfied (and, unless the Company shall have otherwise notified the Administrative Agent at         such time, the Company shall be deemed to have represented and warranted that such conditions         are satisfied at such time), and (y) such reallocation does not cause the aggregate Revolving Credit         Exposure of any Non-Defaulting Lender to exceed such Non-Defaulting Lender’s Commitment.          Subject to Section 11.20, no reallocation hereunder shall constitute a waiver or release of any claim         of any party hereunder against a Defaulting Lender arising from that Lender having become a         Defaulting Lender, including any claim of a Non-Defaulting Lender as a result of such Non-        Defaulting Lender’s increased exposure following such reallocation.                (v)   Cash Collateral, Repayment of Swing Line Loans.  If the reallocation described in         clause (a)(iv) above cannot, or can only partially, be effected, the Company shall, without prejudice         to any right or remedy available to it hereunder or under applicable Law, (x) first, prepay Swing        Line Loans in an amount equal to the Swing Line Lenders’ Fronting Exposure and (y) second, Cash        Collateralize the L/C Issuers’ Fronting Exposure in accordance with the procedures set forth in        Section 2.16.          (b)   Defaulting Lender Cure.  If the Company and the Administrative Agent agree in writing   that a Lender is no longer a Defaulting Lender, together with the Swing Line Lender and the L/C Issuers in   the case of a Tranche 1 Lender, the Administrative Agent will so notify the parties hereto, whereupon as of   the effective date specified in such notice and subject to any conditions set forth therein (which may include   arrangements with respect to any Cash Collateral), that Lender will, to the extent applicable, purchase at   par that portion of outstanding Tranche 1 Loans and/or Tranche 2 Loans of the other Lenders, as applicable,   or take such other actions as the Administrative Agent may determine to be necessary to cause the relevant   Committed Loans and funded and unfunded participations in Letters of Credit and Swing Line Loans to be   held on a pro rata basis by the Lenders in accordance with their Applicable Percentages (without giving   effect to Section 2.17(a)(iv)), whereupon such Lender will cease to be a Defaulting Lender; provided that   no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf   of the Company while that Lender was a Defaulting Lender; and provided, further, that except to the extent   otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender  will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having  been a Defaulting Lender.                                                 68 

 

        2.18  Extension of Maturity Date.         (a)   Requests for Extension.  The Company may, by notice to the Administrative Agent (who  shall promptly notify the Lenders) not earlier than the first anniversary of the Closing Date and not later  than 45 days prior to the Maturity Date then in effect hereunder (each, an “Extension Election Date”),  request that each Lender extend such Lender’s Maturity Date for an additional 364 days from the Maturity  Date then in effect hereunder, which request shall indicate the date on which such extension shall be  effective (which shall not be earlier than two Business Days following the Notice Date (as defined below))  (such date, the “Effective Date”); provided however, that (i) no Lender’s Maturity Date shall be extended  more than twice during the term of this Agreement, and (ii) the Company shall not request an extension  more than once in a twelve-month period.         (b)   Lender Elections to Extend.  Each Lender, acting in its sole and individual discretion, shall,  by notice to the Administrative Agent advise the Administrative Agent whether or not such Lender agrees  to such extension (each Lender that determines not to so extend its Maturity Date a “Non-Extending  Lender”) and shall notify the Administrative Agent of such fact promptly after such determination (but in  any event no later than 30 days following the applicable Extension Election Date (the “Notice Date”)) and  any Lender that does not so advise the Administrative Agent on or before the Notice Date shall be deemed  to be a Non-Extending Lender.  The election of any Lender to agree to such extension shall not obligate  any other Lender to so agree.         (c)   Notification by Administrative Agent.  The Administrative Agent shall notify the Company  of each Lender’s determination under this Section promptly, and in any event not more than five (5)  Business Days after the Notice Date.         (d)   Additional Commitment Lenders.  The Company shall have the right to replace each Non- Extending Lender with, and add as “Lenders” under this Agreement in place thereof, one or more Eligible  Assignees (each, an “Additional Commitment Lender”) as provided in Section 11.13; provided that each  of such Additional Commitment Lenders shall enter into an Assignment and Assumption pursuant to which  such Additional Commitment Lender shall, effective as of the applicable Effective Date, undertake a  Commitment (and, if any such Additional Commitment Lender is already a Lender, its Commitment shall  be in addition to such Lender’s Commitment hereunder on such date).         (e)   Minimum Extension Requirement.  If (and only if) the total of the Commitments of the  Lenders that have agreed to so extend their Maturity Date (each, an “Extending Lender”) and the additional  Commitments of the Additional Commitment Lenders shall be more than 50% of the aggregate amount of  the Commitments in effect immediately prior to the applicable Extension Election Date, then, effective as  of the Effective Date, (i) the Maturity Date of each Extending Lender and of each Additional Commitment  Lender shall be extended to the date falling one year after the Maturity Date then in effect (except that, if  such date is not a Business Day, such Maturity Date as so extended shall be the next preceding Business  Day), (ii) each Additional Commitment Lender shall thereupon become a “Lender” for all purposes of this  Agreement, (iii) the Aggregate Commitments as of the applicable Effective Date shall be equal to the  Commitments of the Extending Lenders and the Additional Committed Lenders and (iv) the Commitments  of each Non-Extending Lender shall be terminated.         (f)   Conditions to Effectiveness of Extensions.  As a condition precedent to such extension, the  Company shall deliver to the Administrative Agent a certificate of each Loan Party dated as of the Effective  Date (in sufficient copies for each Extending Lender and each Additional Commitment Lender) signed by  a Responsible Officer of such Loan Party (i) certifying and attaching the resolutions adopted by such Loan  Party approving or consenting to such extension and (ii) in the case of the Company, certifying that, before                                            69 

 

     and after giving effect to such extension, (A) the representations and warranties contained in Article V and   the other Loan Documents are true and correct in all material respects (without duplication of any   materiality qualification included in the terms of any such representation or warranty) on and as of the   applicable Effective Date, except to the extent that such representations and warranties specifically refer to   an earlier date, in which case they are true and correct in all material respects (without duplication of any   materiality qualification included in the terms of any such representation or warranty) as of such earlier  date, and except that for purposes of this Section 2.18, the representations and warranties contained in   subsections (a) and (b) of Section 5.05 shall be deemed to refer to the most recent statements furnished   pursuant to subsections (a) and (b), respectively, of Section 6.01, and (B) no Default exists.  In addition, on   the Maturity Date of each Non-Extending Lender, the Borrowers shall prepay any Committed Loans   outstanding on such date (and pay any additional amounts required pursuant to Section 3.05) to the extent   necessary to keep outstanding Committed Loans ratable with any revised Applicable Percentages of the   respective Lenders effective as of such date.          (g)   Conflicting Provisions.  This Section shall supersede any provisions in Section 2.13 or   Section 11.01 to the contrary.                                     ARTICLE III.                    TAXES, YIELD PROTECTION AND ILLEGALITY          3.01  Taxes.          (a)   Payments Free of Taxes; Obligation to Withhold; Payments on Account of Taxes.                (i)   Any and all payments by or on account of any obligation of any Loan Party under        any Loan Document shall be made without deduction or withholding for any Taxes, except as        required by applicable Laws.  If any applicable Laws (as determined in the good faith discretion of        the Administrative Agent or a Loan Party) require the deduction or withholding of any Tax from        any such payment by the Administrative Agent or a Loan Party, then the Administrative Agent or        such Loan Party shall be entitled to make such deduction or withholding, upon the basis of the        information and documentation to be delivered pursuant to subsection (e) below.                (ii) If any Loan Party or the Administrative Agent shall be required by the Code to        withhold or deduct any Taxes, including both United States federal backup withholding and        withholding taxes, from any payment under any Loan Document, then (A) the Administrative        Agent shall withhold or make such deductions as are determined by the Administrative Agent to        be required based upon the information and documentation it has received pursuant to subsection         (e) below, (B) the Administrative Agent shall timely pay the full amount withheld or deducted to         the relevant Governmental Authority in accordance with the Code, and (C) to the extent that the         withholding or deduction is made on account of Indemnified Taxes, the sum payable by the         applicable Loan Party shall be increased as necessary so that after any required withholding or the         making of all required deductions (including deductions applicable to additional sums payable         under this Section 3.01) the applicable Recipient receives an amount equal to the sum it would have         received had no such withholding or deduction been made.                (iii) If any Loan Party or the Administrative Agent shall be required by any applicable         Laws other than the Code to withhold or deduct any Taxes from any payment under any Loan         Document, then (A) such Loan Party or the Administrative Agent, as required by such Laws, shall         withhold or make such deductions as are determined by it to be required based upon the information         and documentation it has received pursuant to subsection (e) below, (B) such Loan Party or the                                               70 

 

         Administrative Agent, to the extent required by such Laws, shall timely pay the full amount        withheld or deducted to the relevant Governmental Authority in accordance with such Laws, and        (C) to the extent that the withholding or deduction is made on account of Indemnified Taxes, the        sum payable by the applicable Loan Party shall be increased as necessary so that after any required        withholding or the making of all required deductions (including deductions applicable to additional        sums payable under this Section 3.01) the applicable Recipient receives an amount equal to the sum        it would have received had no such withholding or deduction been made.         (b)   Payment of Other Taxes by the Loan Parties.  Without limiting the provisions of  subsection (a) above, the Loan Parties shall timely pay to the relevant Governmental Authority in  accordance with applicable Laws, or at the option of the Administrative Agent timely reimburse it for the  payment of, any Other Taxes.         (c)   Tax Indemnifications.               (i)   Each of the Loan Parties shall, and does hereby, indemnify each Recipient, and       shall make payment in respect thereof within 10 days after written demand therefor, for the full       amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or       attributable to amounts payable under this Section 3.01) payable or paid by such Recipient or        required to be withheld or deducted from a payment to such Recipient, and any penalties, interest        and reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified        Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority.  A        reasonably detailed certificate as to the amount of such payment or liability delivered to the        Company by a Lender or the applicable L/C Issuer (with a copy to the Administrative Agent), or        by the Administrative Agent on its own behalf or on behalf of a Lender or an L/C Issuer, shall be        conclusive absent manifest error.  Each of the Loan Parties shall, and does hereby, indemnify the        Administrative Agent, and shall make payment in respect thereof within 10 days after written        demand therefor, for any amount which a Lender or the applicable L/C Issuer for any reason fails        to pay indefeasibly to the Administrative Agent as required pursuant to Section 3.01(c)(ii) below.               (ii) Each Lender and each L/C Issuer shall, and does hereby, severally indemnify, and       shall make payment in respect thereof within 10 days after written demand therefor, (x) the       Administrative Agent against any Indemnified Taxes attributable to such Lender or such L/C Issuer       (but only to the extent that any Loan Party has not already indemnified the Administrative Agent       for such Indemnified Taxes and without limiting the obligation of the Loan Party to do so), (y) the       Administrative Agent and the Loan Party, as applicable, against any Taxes attributable to such       Lender’s failure to comply with the provisions of Section 11.06(d) relating to the maintenance of a        Participant Register and (z) the Administrative Agent and the Loan Party, as applicable, against        any Excluded Taxes attributable to such Lender or such L/C Issuer, in each case, that are payable        or paid by the Administrative Agent or a Loan Party in connection with any Loan Document, and        any reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were        correctly or legally imposed or asserted by the relevant Governmental Authority.  A certificate as        to the amount of such payment or liability delivered to any Lender by the Administrative Agent        shall be conclusive absent manifest error.  Each Lender and each L/C Issuer hereby authorizes the        Administrative Agent to set off and apply any and all amounts at any time owing to such Lender        or such L/C Issuer, as the case may be, under this Agreement or any other Loan Document against        any amount due to the Administrative Agent under this clause (ii).               (iii) A Treaty Lender and a Designated Borrower that is resident in the United Kingdom       for tax purposes shall co-operate in completing any procedural formalities necessary for the                                            71 

 

        Designated Borrower to obtain authorization to make payments to the Treaty Lender with respect       to a Loan to the Designated Borrower without a Tax Deduction or reduced Tax Deduction. A Treaty       Lender that holds a passport under the HMRC DT Treaty Passport scheme, and which wishes that       scheme to apply to this Agreement with respect to such a Loan, shall confirm its scheme reference       number and its jurisdiction of tax residence to the Administrative Agent and the Designated       Borrower.               (iv)  If a Lender has confirmed its scheme reference number and its jurisdiction of tax       residence in accordance with Section 3.01(c)(iii) above and:                     (A)  a Loan Party making a payment to that Lender has not made a Borrower             DTTP Filing in respect of that Lender; or                    (B)   a Loan Party making a payment to that Lender has made a Borrower DTTP             Filing in respect of that Lender but:                           (1)(1)       that Borrower DTTP Filing has been rejected by HM                    Revenue & Customs; or                           (2)(2)      HM Revenue & Customs has not given the Loan Party                    authority to make payments to that Lender without a Tax Deduction within 60 days                    of the date of the Borrower DTTP Filing,         and in each case, the Loan Party has notified that Lender in writing, that Lender and the Loan        Party shall co-operate in completing any additional procedural formalities necessary for that Loan        Party to obtain authorization to make that payment without a Tax Deduction or reduced Tax        Deduction.               (v)   If a Lender has not confirmed its scheme reference number and jurisdiction of tax       residence in accordance with Section 3.01(c)(iii) above, no Loan Party shall make a Borrower        DTTP Filing or file any other form relating to the HMRC DT Treaty Passport scheme in respect of        that Lender'sLender’s Commitment or its participation in any Loan unless the Lender otherwise        agrees.               (vi)  A Loan Party shall, promptly on making a Borrower DTTP Filing, deliver a copy       of that Borrower DTTP Filing to the Administrative Agent for delivery to the relevant Lender.              (vii) Each Treaty Lender shall provide new details (or successor details) upon the       expiration or obsolescence of any previously delivered details.         (d)   Evidence of Payments.  Upon request by the Company or the Administrative Agent, as the  case may be, after any payment of Taxes by any Loan Party or by the Administrative Agent to a  Governmental Authority as provided in this Section 3.01, the Company shall deliver to the Administrative  Agent or the Administrative Agent shall deliver to the Company, as the case may be, the original or a  certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of any  return required by Laws to report such payment or other evidence of such payment reasonably satisfactory  to the Company or the Administrative Agent, as the case may be.                                              72 

 

                 (e)   Status of Lenders; Tax Documentation.          (i)   Any Lender that is entitled to an exemption from or reduction of withholding Tax  with respect to payments made under any Loan Document shall deliver to the Company and the  Administrative Agent, at the time or times required by applicable Laws or reasonably requested by  the Company or the Administrative Agent, such properly completed and executed documentation  prescribed by applicable Laws or the taxing authorities of a jurisdiction pursuant to such applicable  Laws or reasonably requested by the Company or the Administrative Agent as will permit such  payments to be made without withholding or at a reduced rate of withholding.  In addition, any  Lender, at the time or times required by applicable Laws or if reasonably requested by the Company  or the Administrative Agent, shall deliver such other documentation prescribed by applicable Laws  or reasonably requested by the Company or the Administrative Agent as will enable the Company  or the Administrative Agent to determine whether or not such Lender is subject to backup  withholding or information reporting requirements.  Notwithstanding anything to the contrary in  the preceding two sentences, the completion, execution and submission of such documentation  (other than such documentation either (A) set forth in Section 3.01(e)(ii)(A), (ii)(B) and (ii)(D)   below or (B) required by applicable Laws other than the Code or the taxing authorities of the   jurisdiction pursuant to such applicable Laws to comply with the requirements for exemption or   reduction of withholding tax in that jurisdiction) shall not be required if in the Lender’s reasonable   judgment such completion, execution or submission would subject such Lender to any material   unreimbursed cost or expense or would materially prejudice the legal or commercial position of   such Lender.          (ii) Without limiting the generality of the foregoing, in the event that a Borrower is a  U.S. Person,               (A)   any Lender that is a U.S. Person shall deliver to the Company and the        Administrative Agent on or prior to the date on which such Lender becomes a Lender under        this Agreement (and from time to time thereafter upon the reasonable request of the        Company or the Administrative Agent), executed originals of IRS Form W-9 certifying        that such Lender is exempt from U.S. federal backup withholding tax;               (B)   any Foreign Lender shall, to the extent it is legally entitled to do so, deliver        to the Company and the Administrative Agent (in such number of copies as shall be        requested by the recipient) on or prior to the date on which such Foreign Lender becomes        a Lender under this Agreement (and from time to time thereafter upon the reasonable        request of the Company or the Administrative Agent), whichever of the following is        applicable:                      (I)  in the case of a Foreign Lender claiming the benefits of an income               tax treaty to which the United States is a party (x) with respect to payments of               interest under any Loan Document, executed originals of IRS Form W-8BEN or               W-8BEN-E, as applicable, establishing an exemption from, or reduction of, U.S.               federal withholding Tax pursuant to the “interest” article of such tax treaty and               (y) with respect to any other applicable payments under any Loan Document, IRS               Form W-8BEN or W-8BEN-E, as applicable, establishing an exemption from, or               reduction of, U.S. federal withholding Tax pursuant to the “business profits” or               “other income” article of such tax treaty;                     (II)  executed originals of IRS Form W-8ECI;                                                                 73 

 

                             (III) in the case of a Foreign Lender claiming the benefits of the        exemption for portfolio interest under Section 881(c) of the Code, (x) a certificate        substantially in the form of Exhibit K-1 to the effect that such Foreign Lender is         not a “bank” within the meaning of Section 881(c)(3)(A) of the Code, a “10 percent        shareholder” of the Company within the meaning of Section 881(c)(3)(B) of the        Code, or a “controlled foreign corporation” described in Section 881(c)(3)(C) of        the Code (a “U.S. Tax Compliance Certificate”) and (y) executed originals of IRS         Form W-8BEN or W-8BEN-E, as applicable; or                (IV) to the extent a Foreign Lender is not the beneficial owner,        executed originals of IRS Form W-8IMY, accompanied by IRS Form W-8ECI,        IRS Form W-8BEN or W-8BEN-E, as applicable, a U.S. Tax Compliance        Certificate substantially in the form of Exhibit K-2 or Exhibit K-3, IRS Form W-        9, and/or other certification documents from each beneficial owner, as applicable;         provided that if the Foreign Lender is a partnership and one or more direct or         indirect partners of such Foreign Lender are claiming the portfolio interest        exemption, such Foreign Lender may provide a U.S. Tax Compliance Certificate        substantially in the form of Exhibit K-4 on behalf of each such direct and indirect         partner;          (C)   any Lender shall, to the extent it is legally entitled to do so, deliver to the  Company and the Administrative Agent (in such number of copies as shall be requested by  the recipient) on or prior to the date on which such Lender becomes a Lender under this  Agreement (and from time to time thereafter upon the reasonable request of the Company  or the Administrative Agent), executed originals of any other form prescribed by applicable  law as a basis for claiming exemption from or a reduction in U.S. federal withholding Tax,  duly completed, together with such supplementary documentation as may be prescribed by  applicable law to permit the Company or the Administrative Agent to determine the  withholding or deduction required to be made; and          (D)  if a payment made to a Lender under any Loan Document would be subject  to U.S. federal withholding Tax imposed by FATCA if such Lender were to fail to comply  with the applicable reporting requirements of FATCA (including those contained in  Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to the  Company and the Administrative Agent at the time or times prescribed by law and at such  time or times reasonably requested by the Company or the Administrative Agent such  documentation prescribed by applicable law (including as prescribed by Section  1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by  the Company or the Administrative Agent as may be necessary for the Company and the  Administrative Agent to comply with their obligations under FATCA and to determine that  such Lender has complied with such Lender’s obligations under FATCA or to determine  the amount to deduct and withhold from such payment.  Solely for purposes of this  clause (D), “FATCA” shall include any amendments made to FATCA after the date of this   Agreement.For purposes of determining withholding Taxes imposed under FATCA, from   and after the effective date of this Agreement, the Borrowers and the Administrative Agent   shall treat (and the Lenders hereby authorize the Administrative Agent to treat) the   Agreement as not qualifying as a  "“grandfathered obligation"” within the meaning of   Treasury Regulation Section 1.1471-2(b)(2)(i).                                                             74 

 

               (iii) Without limiting the generality of the foregoing, in the case of a Borrower which       is tax resident in Spain, (A) any Lender that is tax resident in a Member State of the European       Union, provided it does not obtain income through a territory considered to be a tax haven for       Spanish tax purposes nor acts through a permanent establishment located in Spain or outside the       European Union with which that Lender'sLender’s income is effectively connected, shall deliver        to such Borrower a tax certificate duly issued by the competent Tax authorities of its country of        residence evidencing such Lender as resident for tax purposes in that country; and (B) any Treaty        Lender in respect of Spain shall deliver to such Borrower a tax certificate duly issued by the        competent Tax authorities of its country of residence evidencing such Lender as resident for tax        purposes in that country within the meaning of the Treaty.               (iv)  The Administrative Agent and each Lender agree that if any form or certification       it previously delivered pursuant to this Section 3.01 expires or becomes obsolete or inaccurate in        any respect, it shall update such form or certification or promptly notify the Company and the        Administrative Agent in writing of its legal inability to do so.               (v)   The Administrative Agent shall deliver to the Company from time to time upon        the reasonable request of the Company executed originals of IRS Form W-9 (and/or other        applicable tax forms) certifying that the Administrative Agent is exempt from U.S. federal        withholding tax.         (f)   Treatment of Certain Refunds.  Unless required by applicable Laws, at no time shall the  Administrative Agent have any obligation to file for or otherwise pursue on behalf of a Lender or L/C  Issuer, or have any obligation to pay to any Lender or any L/C Issuer, any refund of Taxes withheld or  deducted from funds paid for the account of such Lender or such L/C Issuer, as the case may be.  If any  Recipient determines, in its sole discretion exercised in good faith, that it has received a refund of any Taxes  as to which it has been indemnified by any Loan Party or with respect to which any Loan Party has paid  additional amounts pursuant to this Section 3.01, it shall pay to such Loan Party an amount equal to such  refund (but only to the extent of indemnity payments made, or additional amounts paid, by a Loan Party  under this Section 3.01 with respect to the Taxes giving rise to such refund), net of all out-of-pocket  expenses (including Taxes) incurred by such Recipient, and without interest (other than any interest paid  by the relevant Governmental Authority with respect to such refund), provided that each Loan Party, upon  the request of the Recipient, agrees to repay the amount paid over to such Loan Party (plus any penalties,  interest or other charges imposed by the relevant Governmental Authority) to the Recipient in the event the  Recipient is required to repay such refund to such Governmental Authority.  Notwithstanding anything to  the contrary in this subsection (f), in no event will the applicable Recipient be required to pay any amount  to such Loan Party pursuant to this subsection (f) the payment of which would place the Recipient in a less  favorable net after-Tax position than such Recipient would have been in if the Tax subject to  indemnification and giving rise to such refund had not been deducted, withheld or otherwise imposed and  the indemnification payments or additional amounts with respect to such Tax had never been paid.  This  subsection (f) shall not be construed to require any Recipient to make available its tax returns (or any other  information relating to its taxes that it deems confidential) to any Loan Party or any other Person.         (g)   Value Added Taxes.               (i)   All amounts expressed to be payable under a Loan Document by any Borrower to       a Lender which (in whole or in part) constitute the consideration for any supply for VAT purposes       are deemed to be exclusive of any VAT which is chargeable on that supply, and accordingly, subject       to paragraph  (ii) below(ii) below, if VAT is or becomes chargeable on any supply made by any        Lender to any Borrower under a Loan Document, and such Lender is required to account to the                                            75 

 

        relevant tax authority for the VAT, that Borrower must pay to such Lender (in addition to and at       the same time as paying the consideration for such supply) an amount equal to the amount of the        VAT (and such Lender must promptly provide an appropriate VAT invoice to that Borrower).               (ii) If VAT is or becomes chargeable on any supply made by any Lender       (the “Supplying Lender”) to any other Lender (the “Receiving Lender”) under a Loan Document,        and any party other than the Receiving Lender (the “Relevant Party”) is required by the terms of        any Loan Document to pay an amount equal to the consideration for that supply to the Supplying        Lender (rather than being required to reimburse or indemnify the Receiving Lender in respect of        that consideration):                     (A)  (where the Supplying Lender is the person required to account to the             relevant tax authority for the VAT), the Relevant Party must also pay to the Supplying             Lender (at the same time as paying that amount) an additional amount equal to the amount             of such VAT.  The Receiving Lender must (where this paragraph (ii)(ii) applies) promptly              pay to the Relevant Party an amount equal to any credit or repayment the Receiving Lender              receives from the relevant tax authority which the Receiving Lender reasonably determines              relates to the VAT chargeable on that supply; and                     (B)   (where the Receiving Lender is the person required to account to the             relevant tax authority for the VAT), the Relevant Party must promptly, following demand             from the Receiving Lender, pay to the Receiving Lender an amount equal to the VAT             chargeable on that supply but only to the extent that the Receiving Lender reasonably             determines that it is not entitled to credit or repayment from the relevant tax authority in             respect of that VAT.              (iii)  Where a Loan Document requires any party to reimburse or indemnify a Recipient       for any cost or expense, that party must reimburse and indemnify (as the case may be) the Recipient       for the full amount of such cost or expense, including that part which represents VAT, except to       the extent that the Recipient reasonably determines that it is entitled to credit or repayment from       the relevant tax authority in respect of that VAT.               (iv)  Any reference in this clause (g) (Value Added Taxesg (Value Added Taxes) to any        party will, at any time when that party is treated as a member of a group for VAT purposes, include        (where appropriate and unless the context otherwise requires) a reference to the representative        member of that group at that time (the term “representative member” to have the same meaning as        in the Value Added Tax Act 1994 of England and Wales or in the relevant legislation of any other        relevant jurisdiction having implemented Council Directive 2006/112/EC of the European Union        on the common system of value added tax).               (v)   In relation to any supply made by a Recipient to any party under a Loan Document,       if reasonably requested by such Recipient, that party must promptly provide such Recipient with       details of that party'sparty’s VAT registration and such other information as is reasonably requested        in connection with such Recipient'sRecipient’s VAT reporting requirements in relation to such        supply.         (h)   Survival.  Each party’s obligations under this Section 3.01 shall survive the resignation or  replacement of the Administrative Agent or any assignment of rights by, or the replacement of, a Lender or  L/C Issuer, the termination of the Commitments and the repayment, satisfaction or discharge of all other  Obligations.                                            76 

 

          3.02  Illegality.  If any Lender determines that any Law has made it unlawful, or that any  Governmental Authority has asserted that it is unlawful, for any Lender or its applicable Lending Office to  determine or charge interest rates based upon the Eurocurrency Rate, or any Governmental Authority has  imposed material restrictions on the authority of such Lender to purchase or sell, or to take deposits of,  Dollars or any Alternative Currency in the applicable interbank market, then, on notice thereof by such  Lender to the Company through the Administrative Agent, (i) any obligation of such Lender to make or  continue Eurocurrency Rate Loans in the affected currency or currencies or, in the case of Eurocurrency  Rate Loans in Dollars, to convert Base Rate Committed Loans to Eurocurrency Rate Loans, shall be  suspended, and (ii) if such notice asserts the illegality of such Lender making or maintaining Base Rate  Loans the interest rate on which is determined by reference to the Eurocurrency Rate component of the  Base Rate, the interest rate on which Base Rate Loans of such Lender shall, if necessary to avoid such  illegality, be determined by the Administrative Agent without reference to the Eurocurrency Rate  component of the Base Rate, in each case until such Lender notifies the Administrative Agent and the  Company that the circumstances giving rise to such determination no longer exist.  Upon receipt of such  notice, (x) the Borrowers shall, upon demand from such Lender (with a copy to the Administrative Agent),  prepay or, if applicable and such Loans are denominated in Dollars, convert all Eurocurrency Rate Loans  of such Lender to Base Rate Loans (the interest rate on which Base Rate Loans of such Lender shall, if  necessary to avoid such illegality, be determined by the Administrative Agent without reference to the  Eurocurrency Rate component of the Base Rate), either on the last day of the Interest Period therefor, if  such Lender may lawfully continue to maintain such Eurocurrency Rate Loans to such day, or immediately,  if such Lender may not lawfully continue to maintain such Eurocurrency Rate Loans and (y) if such notice  asserts the illegality of such Lender determining or charging interest rates based upon the Eurocurrency  Rate, the Administrative Agent shall during the period of such suspension compute the Base Rate applicable  to such Lender without reference to the Eurocurrency Rate component thereof until the Administrative  Agent is advised in writing by such Lender that it is no longer illegal for such Lender to determine or charge  interest rates based upon the Eurocurrency Rate.  Upon any such prepayment or conversion, the Borrowers  shall also pay accrued interest on the amount so prepaid or converted.   If, in any applicable jurisdiction, the Administrative Agent, any L/C Issuer or any Lender determines that  any Law has made it unlawful, or that any Governmental Authority has asserted that it is unlawful, for the  Administrative Agent, such L/C Issuer or such Lender or its applicable Lending Office to (i) perform any  of its obligations hereunder or under any other Loan Document, (ii) to fund or maintain its participation in  any Loan or (iii) issue, make, maintain, fund or charge interest with respect to any Credit Extension to any  Designated Borrower who is a Foreign Subsidiary such Person shall promptly notify the Administrative  Agent, then, upon the Administrative Agent notifying the Company, and until such notice by such Person  is revoked, any obligation of such Person to issue, make, maintain, fund or charge interest with respect to  any such Credit Extension shall be suspended, and to the extent required by applicable Law,  cancelled.  Upon receipt of such notice, the Loan Parties shall, (A) repay that Person’s participation in the  Loans or other applicable Obligations on the last day of the Interest Period for each Loan or other Obligation  occurring after the Administrative Agent has notified the Company or, if earlier, the date specified by such  Person in the notice delivered to the Administrative Agent (being no earlier than the last day of any  applicable grace period permitted by applicable Law) and (B) take all reasonable actions requested by such  Person to mitigate or avoid such illegality.         3.03  Inability to Determine Rates.  If in connection with any request for a Eurocurrency Rate  Loan or a conversion to or continuation thereof, (a) (i) the Administrative Agent determines that deposits  (whether in Dollars or an Alternative Currency) are not being offered to banks in the applicable offshore  interbank market for such currency for the applicable amount and Interest Period of such Eurocurrency  Rate Loan, or (ii) adequate and reasonable means do not exist for determining the Eurocurrency Rate for  any requested Interest Period with respect to a proposed Eurocurrency Rate Loan (whether denominated in                                               77 

 

     Dollars or an Alternative Currency) or in connection with an existing or proposed Base Rate Loan (in each   case with respect to clause (a) above, “Impacted Loans”), (b) the Administrative Agent or the Required   Tranche 1 Lenders determine that for any reason the Eurocurrency Rate for any requested Interest Period   with respect to a proposed Tranche 1 Loan that is a Eurocurrency Rate Loan does not adequately and fairly   reflect the cost to such Lenders of funding such Eurocurrency Rate Loan, or (c) the Administrative Agent   or the Required Tranche 2 Lenders determine that for any reason the Eurocurrency Rate for any requested   Interest Period with respect to a proposed Tranche 2 Loan that is a Eurocurrency Rate Loan does not   adequately and fairly reflect the cost to such Lenders of funding such Eurocurrency Rate Loan, the   Administrative Agent will promptly so notify the Company and each Appropriate Lender.  Thereafter, (x)   the obligation of the Appropriate Lenders to make or maintain Eurocurrency Rate Loans in the affected   currency or currencies shall be suspended (to the extent of the affected Eurocurrency Rate Loans or Interest   Periods), and (y) in the event of a determination described in the preceding sentence with respect to the   Eurocurrency Rate component of the Base Rate, the utilization of the Eurocurrency Rate component in   determining the Base Rate shall be suspended, in each case until the Administrative Agent (upon the   instruction of the Required Tranche 1 Lenders or Required Tranche 2 Lenders, as applicable) revokes such   notice.  Upon receipt of such notice, the Company may revoke any pending request for a Borrowing of,   conversion to or continuation of Eurocurrency Rate Loans in the affected currency or currencies (to the   extent of the affected Eurocurrency Rate Loans or Interest Periods) or, failing that, will be deemed to have   converted such request into a request for a Committed Borrowing of Base Rate Loans in the amount   specified therein.          Notwithstanding the foregoing, if the Administrative Agent has made the determination described  in clause (a)(i) of this section, the Administrative Agent, in consultation with the Company and the Required   Tranche 1 Lenders or Required Tranche 2 Lenders, as applicable, may establish an alternative interest rate   for the Impacted Loans, in which case, such alternative rate of interest shall apply with respect to the  Impacted Loans until (1) the Administrative Agent revokes the notice delivered with respect to the Impacted  Loans under clause (a) of the first sentence of this section, (2) the Administrative Agent or the Required   Tranche 1 Lenders or Required Tranche 2 Lenders, as applicable, notify the Administrative Agent and the   Company that such alternative interest rate does not adequately and fairly reflect the cost to such Lenders   of funding the Impacted Loans, or (3) any Lender determines that any Law has made it unlawful, or that   any Governmental Authority has asserted that it is unlawful, for such Lender or its applicable Lending   Office to make, maintain or fund Loans whose interest is determined by reference to such alternative rate   of interest or to determine or charge interest rates based upon such rate or any Governmental Authority has   imposed material restrictions on the authority of such Lender to do any of the foregoing and provides the   Administrative Agent and the Company written notice thereof.  Notwithstanding anything else herein, in   no event shall any such alternative rate be less than 0.50% for purposes of this Agreement.          3.04  Increased Costs; Reserves on Eurocurrency Rate Loans.          (a)   Increased Costs Generally.  If any Change in Law shall:                (i)   impose, modify or deem applicable any reserve, special deposit, compulsory loan,         insurance charge or similar requirement against assets of, deposits with or for the account of, or         credit extended or participated in by, any Lender (except any reserve requirement contemplated by         Section 3.04(e), other than as set forth below) or L/C Issuer;                (ii) subject any Recipient to any Taxes (other than (A) Indemnified Taxes, (B) Taxes        described in clauses (b) through (e) of the definition of Excluded Taxes and (C) Connection Income         Taxes) on its loans, loan principal, letters of credit, commitments, or other obligations, or its         deposits, reserves, other liabilities or capital attributable thereto; or                                               78 

 

                 (iii) impose on any Lender or any L/C Issuer or the London interbank market any other         condition, cost or expense (in each case, other than Taxes) affecting this Agreement or         Eurocurrency Rate Loans made by such Lender or any Letter of Credit or participation therein;    and the result of any of the foregoing shall be to increase the cost to such Lender of making converting to,   continuing or maintaining any Loan the interest on which is determined by reference to the Eurocurrency   Rate (or of maintaining its obligation to make any such Loan), or to increase the cost to such Lender or   such L/C Issuer of participating in, issuing or maintaining any Letter of Credit (or of maintaining its   obligation to participate in or to issue any Letter of Credit), or to reduce the amount of any sum received or  receivable by such Lender or such L/C Issuer hereunder (whether of principal, interest or any other amount)  then, upon request of such Lender or such L/C Issuer, the Company will pay (or cause the applicable  Designated Borrower to pay) to such Lender or such L/C Issuer, as the case may be, such additional amount  or amounts as will compensate such Lender or such L/C Issuer, as the case may be, for such additional costs  incurred or reduction suffered; provided that such amounts shall be consistent conceptually with amounts   that the Lender or L/C Issuer is generally charging other similarly situated borrowers and shall not be   duplicative of any amounts paid by the Company under any other provision of this Agreement.          (b)   Capital Requirements.  If any Lender or any L/C Issuer determines that any Change in Law   affecting such Lender or such L/C Issuer or any Lending Office of such Lender or such Lender’s or such   L/C Issuer’s holding company, if any, regarding capital or liquidity requirements has or would have the   effect of reducing the rate of return on such Lender’s or such L/C Issuer’s capital or on the capital of such   Lender’s or such L/C Issuer’s holding company, if any, as a consequence of this Agreement, the   Commitments of such Lender or the Loans made by, or participations in Letters of Credit or Swing Line   Loans held by, such Lender, or the Letters of Credit issued by such L/C Issuer, to a level below that which   such Lender or such L/C Issuer or such Lender’s or such L/C Issuer’s holding company could have achieved   but for such Change in Law (taking into consideration such Lender’s or such L/C Issuer’s policies and the   policies of such Lender’s or such L/C Issuer’s holding company with respect to capital adequacy), then   from time to time the Company will pay (or cause the applicable Designated Borrower to pay) to such   Lender or such L/C Issuer, as the case may be, such additional amount or amounts as will compensate such   Lender or such L/C Issuer or such Lender’s or such L/C Issuer’s holding company for any such reduction   suffered; provided that such amounts shall be consistent conceptually with amounts that such Lender or   such L/C Issuer is generally charging other similarly situated borrowers and shall not be duplicative of any   amounts paid by the Company under any other provision of this Agreement.          (c)   Certificates for Reimbursement.  A certificate of a Lender or a L/C Issuer setting forth the   amount or amounts necessary to compensate such Lender or such L/C Issuer or its holding company, as the  case may be, as specified in subsection (a) or (b) of this Section and delivered to the Company shall be   conclusive absent manifest error.  The Company shall pay (or cause the applicable Designated Borrower to   pay) such Lender or such L/C Issuer, as the case may be, the amount shown as due on any such certificate   within 10 days after receipt thereof.          (d)   Delay in Requests.  Failure or delay on the part of any Lender or any L/C Issuer to demand   compensation pursuant to the foregoing provisions of this Section 3.04 shall not constitute a waiver of such   Lender’s or such L/C Issuer’s right to demand such compensation, provided that no Borrower shall be   required to compensate a Lender or a L/C Issuer pursuant to the foregoing provisions of this Section for   any increased costs incurred or reductions suffered more than nine months prior to the date that such Lender   or such L/C Issuer, as the case may be, notifies the Company of the Change in Law giving rise to such   increased costs or reductions and of such Lender’s or such L/C Issuer’s intention to claim compensation   therefor (except that, if the Change in Law giving rise to such increased costs or reductions is retroactive,                                                79 

 

    then the nine-month period referred to above shall be extended to include the period of retroactive effect  thereof).          (e)   Additional Reserve Requirements.  The Company shall pay (or cause the applicable   Designated Borrower to pay) to each Lender, (i) as long as such Lender shall be required to maintain   reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits   (currently known as “Eurocurrency liabilities”), additional interest on the unpaid principal amount of each   Eurocurrency Rate Loan equal to the actual costs of such reserves allocated to such Loan by such Lender   (as determined by such Lender in good faith, which determination shall be conclusive), and (ii) as long as   such Lender shall be required to comply with any reserve ratio requirement or analogous requirement of   any other central banking or financial regulatory authority imposed in respect of the maintenance of the   Commitments or the funding of the Eurocurrency Rate Loans, such additional costs (expressed as a   percentage per annum and rounded upwards, if necessary, to the nearest five decimal places) equal to the   actual costs allocated to such Commitment or Loan by such Lender (as determined by such Lender in good   faith, which determination shall be conclusive), which in each case shall be due and payable on each date   on which interest is payable on such Loan, provided the Company shall have received at least 10 days’ prior   notice (with a copy to the Administrative Agent) of such additional interest or costs from such Lender.  If   a Lender fails to give notice 10 days prior to the relevant Interest Payment Date, such additional interest or   costs shall be due and payable 10 days from receipt of such notice.          3.05  Compensation for Losses.  Upon demand of any Lender (with a copy to the  Administrative Agent) from time to time, the Company shall promptly compensate (or cause the applicable  Designated Borrower to compensate) such Lender for and hold such Lender harmless from any loss, cost  or expense incurred by it as a result of:          (a)   any continuation, conversion, payment or prepayment of any Loan other than a Base Rate  Loan on a day other than the last day of the Interest Period for such Loan (whether voluntary, mandatory,  automatic, by reason of acceleration, or otherwise);         (b)   any failure by any Borrower (for a reason other than the failure of such Lender to make a  Loan) to prepay, borrow, continue or convert any Loan other than a Base Rate Loan on the date or in the  amount notified by the Company or the applicable Designated Borrower;         (c)   any failure by any Borrower to make payment of any Loan or drawing under any Letter of  Credit (or interest due thereon) denominated in an Alternative Currency on its scheduled due date or any  payment thereof in a different currency; or          (d)   any assignment of a Eurocurrency Rate Loan on a day other than the last day of the Interest  Period therefor as a result of a request by the Company pursuant to Section 11.13;    including any foreign exchange losses and any loss or expense arising from the liquidation or reemployment   of funds obtained by it to maintain such Loan, from fees payable to terminate the deposits from which such   funds were obtained or from the performance of any foreign exchange contract, but excluding any loss of   profits or margin.  The Company shall also pay (or cause the applicable Designated Borrower to pay) any   customary administrative fees charged by such Lender in connection with the foregoing.    For purposes of calculating amounts payable by the Company (or the applicable Designated Borrower) to   the Lenders under this Section 3.05, each Lender shall be deemed to have funded each Eurocurrency Rate   Loan made by it at the Eurocurrency Rate for such Loan by a matching deposit or other borrowing in the                                                80 

 

    offshore interbank market for such currency for a comparable amount and for a comparable period,  whether or not such Eurocurrency Rate Loan was in fact so funded.         3.06  Mitigation Obligations; Replacement of Lenders.          (a)   Designation of a Different Lending Office.  Each Lender may make any Credit Extension   to a Borrower through any Lending Office, provided that the exercise of this option shall not affect the   obligation of such Borrower to repay the Credit Extension in accordance with the terms of this Agreement.    If any Lender requests compensation under Section 3.04, or requires any Borrower to pay Indemnified   Taxes or any additional amounts to any Lender, any L/C Issuer, or any Governmental Authority for the   account of any Lender or any L/C Issuer pursuant to Section 3.01, or if any Lender gives a notice pursuant   to Section 3.02, then at the request of the Company such Lender or such L/C Issuer shall, as applicable, use   reasonable efforts to designate a different Lending Office for funding or booking its Loans hereunder or to   assign its rights and obligations hereunder to another of its offices, branches or affiliates, if, in the judgment   of such Lender or such L/C Issuer, such designation or assignment (i) would eliminate or reduce amounts   payable pursuant to Section 3.01 or 3.04, as the case may be, in the future, or eliminate the need for the   notice pursuant to Section 3.02, as applicable, and (ii) in each case, would not subject such Lender or such   L/C Issuer, as the case may be, to any unreimbursed cost or expense and would not otherwise be   disadvantageous to such Lender or such L/C Issuer, as the case may be.  The Company hereby agrees to   pay (or cause the applicable Designated Borrower to pay) all reasonable costs and expenses incurred by   any Lender or any L/C Issuer in connection with any such designation or assignment.          (b)   Replacement of Lenders.  If any Lender requests compensation under Section 3.04, or if   any Borrower is required to pay any Indemnified Taxes or additional amounts to any Lender or to the   Administrative Agent or any Governmental Authority for the account of any Lender pursuant to Section   3.01 and, in each case, such Lender has declined or is unable to designate a different lending office in   accordance with Section 3.06(a), the Company may replace such Lender in accordance with Section 11.13.          3.07  Survival.  All obligations of the Loan Parties under this Article III shall survive termination   of the Aggregate Commitments, repayment of all other Obligations hereunder and resignation of the   Administrative Agent.                                     ARTICLE IV.                  CONDITIONS PRECEDENT TO CREDIT EXTENSIONS         4.01  Conditions of Amendment and Restatement.  The effectiveness of this Agreement as an  amendment and restatement of the Existing Credit Agreement is subject to satisfaction of the following  conditions:         (a)   The Administrative Agent’s receipt of the following, each of which shall be originals or  telecopies (followed promptly by originals) unless otherwise specified, each properly executed by a  Responsible Officer of the signing Loan Party, each dated the Closing Date (or, in the case of certificates  of governmental officials, a recent date before the Closing Date) and each in form and substance reasonably  satisfactory to the Administrative Agent and each of the Lenders:               (i)   executed counterparts of this Agreement, sufficient in number for distribution to        the Administrative Agent, each Lender, the Facility Guarantor and the Company;                                                 81 

 

                       (ii) Notes executed by the Borrowers in favor of each Lender requesting Notes;  provided that with respect to any Notes under any Tranche 1 Commitment, Discovery Networks   Asia-Pacific Pte. Ltd. shall execute such Notes as soon as practicable after the Closing Date;          (iii) such certificates or resolutions or other action, incumbency certificates and/or   other certificates of Responsible Officers of each Loan Party as the Administrative Agent may   require evidencing the identity, authority and capacity of each Responsible Officer thereof   authorized to act as a Responsible Officer in connection with this Agreement and the other Loan   Documents to which such Loan Party is a party;          (iv)  such documents and certifications as the Administrative Agent may reasonably   require to evidence that each Loan Party is duly organized or formed, and that each Loan Party is   validly existing and in good standing in its jurisdiction of organization;          (v)    (A) a favorable opinion of WilmerHale, counsel to the Loan Parties, addressed to  the Administrative Agent and each Lender substantially in the form set forth in Exhibit G-1; (B) a   favorable opinion of DLA Piper, LLP, special UK counsel to the Loan Parties, addressed to the  Administrative Agent and each Lender, substantially in the form set forth in Exhibit G-2; (C) a   favorable opinion of Linklaters Singapore Pte. Ltd., special Singapore counsel to the   Administrative Agent, addressed to the Administrative Agent and each Lender, substantially in the   form set forth in Exhibit G-3; (D) a favorable opinion of DLA Piper, LLP, special Luxembourg   counsel to the Loan Parties, addressed to the Administrative Agent and each Lender, substantially   in the form set forth in Exhibit G-4; (E) a favorable opinion of Linklaters Luxembourg, special   Luxembourg counsel to the Administrative Agent, addressed to the Administrative Agent and each   Lender, substantially in the form set forth in Exhibit G-5; and (F) a favorable opinion of Pérez-  Llorca, special Spain counsel to the Loan Parties, addressed to the Administrative Agent and each   Lender, substantially in the form set forth in Exhibit G-6.          (vi)  a certificate signed by a Responsible Officer of the Company and the Facility  Guarantor certifying (A) that the conditions specified in Sections 4.02(a) and (b) have been   satisfied, (B) that there has been no event or circumstance since the date of the Audited Financial   Statements that has had or could be reasonably expected to have, either individually or in the   aggregate, a Material Adverse Effect; and (C) the current Debt Ratings;          (vii) a duly completed Compliance Certificate as of the last day of the fiscal quarter  ended on September 30, 2015, signed by a Responsible Officer of the Company;         (viii) [reserved];         (ix)  receipt not less than five Business Days prior to the Closing Date of all information  required to be obtained by each Lender, the Arrangers, and the Administrative Agent, pursuant to  the Act;         (x)   in the case of a Luxembourg Borrower:               (A)   an excerpt of the records of the Luxembourg Borrower held at the        Luxembourg Register of Commerce and Companies dated no earlier than one Business        Day prior to the date of this Agreement (Extrait du Registre de Commerce et des Sociétés).                                                                   82 

 

                             (B)   A copy of a certificate of non-inscription of a judicial decision, issued by        the Luxembourg Register of Commerce and Companies in relation to the Luxembourg        Borrower dated no earlier than one Business Day prior to the date of this Agreement        (Certificat de non-inscription  d'uned’une décision judiciaire).                (C)   A copy of a resolution of the board of managers of the Luxembourg        Borrower:                      a. a. approving the terms of, and the transactions contemplated by, the               Loan Documents to which it is a party and resolving that it executes the Loan               Documents to which it is a party;                      b. b. authorizing a specified person or persons to execute the Loan               Documents to which it is a party on its behalf; and                      c. c. authorizing a specified person or persons, on its behalf, to sign               and/or dispatch all documents and notices to be signed and/or dispatched by it               under or in connection with the Loan Documents to which it is a party.                (D)  A certificate signed by a duly authorized signatory:                      a. a. confirming that its centre of main interest and its central               administration are in Luxembourg;                      b. b. confirming that it is not subject to bankruptcy (faillite),               insolvency, voluntary or judicial liquidation (liquidation volontaire ou judiciaire),               composition with creditors (concordat préventif de la faillite), reprieve from               payment (sursis de paiement), controlled management (gestion contrôlée), or              similar proceedings; and no application, petition, order or resolution has been made              by it or, to the best of its knowledge, by any other person for the appointment of a              commissaire, curateur, liquidateur or similar officer for its administration,              winding-up or similar proceedings;                      c. c. confirming that it complies with the Luxembourg law dated 31               May 1999 concerning the domiciliation of companies, as amended (and the              relevant regulations) imposing certain requirements on companies having              established their registered office with a third party (other than a company              belonging to the same group of companies or an individual being a direct or               indirect shareholders exercising a significant influence on the conduct of the               domiciliated company’s business) providing certain administrative services to               such companies; and          (xi)  such other assurances, certificates, documents, consents or opinions as the  Administrative Agent, the L/C Issuers, the Swing Line Lender or the Required Lenders reasonably  may require.   (b)    Any fees required to be paid on or before the Closing Date shall have been paid.                                                                   83 

 

          (c)   Unless waived by the Administrative Agent, the Company shall have paid all fees, charges  and disbursements of counsel to the Administrative Agent (directly to such counsel if requested by the  Administrative Agent) to the extent invoiced at least one Business Day prior to the Closing Date, plus such  additional amounts of such fees, charges and disbursements as shall constitute its reasonable estimate of  such fees, charges and disbursements incurred or to be incurred by it through the closing proceedings  (provided that such estimate shall not thereafter preclude a final settling of accounts between the Company  and the Administrative Agent).         (d)   The Closing Date shall have occurred on or before February 4, 2016.          Without limiting the generality of the provisions of the last paragraph of Section 9.03, for purposes   of determining compliance with the conditions specified in this Section 4.01, each Lender that has signed   this Agreement shall be deemed to have consented to, approved or accepted or to be satisfied with, each   document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory   to a Lender unless the Administrative Agent shall have received notice from such Lender prior to the   proposed Closing Date specifying its objection thereto.          4.02  Conditions to all Credit Extensions.  The obligation of each Lender to honor any Request  for Credit Extension (other than a Committed Loan Notice requesting only a conversion of Committed  Loans to the other Type, or a continuation of Eurocurrency Rate Loans) is subject to the following  conditions precedent:          (a)   The representations and warranties of each Loan Party contained in Article V (other than   Sections 5.05(c) and 5.06) and in each other Loan Document, or in any document furnished at any time   under or in connection herewith or therewith, shall be true and correct in all material respects (without   duplication of any materiality qualification included in the terms of any such representation or warranty)   on and as of the date of such Credit Extension, except to the extent that such representations and warranties   specifically refer to an earlier date, in which case they shall be true and correct in all material respects   (without duplication of any materiality qualification included in the terms of any such representation or   warranty) as of such earlier date, and except that for purposes of this Section 4.02, the representations and   warranties contained in subsections (a) and (b) of Section 5.05 shall be deemed to refer to the most recent   statements furnished pursuant to subsections (a) and (b), respectively, of Section 6.01.          (b)   No Default shall exist, or after giving Pro Forma Effect to such proposed Credit Extension  or from the application of the proceeds thereof, would result.          (c)   The Administrative Agent and, if applicable, the applicable L/C Issuer or the Swing Line  Lender shall have received a Request for Credit Extension in accordance with the requirements hereof.          (d)   If the applicable Borrower is a Designated Borrower, then the conditions of Section 2.14   to the designation of such Borrower as a Designated Borrower shall have been met to the reasonable   satisfaction of the Administrative Agent.          (e)   In the case of a Credit Extension to be denominated in an Alternative Currency, there shall  not have occurred any change in national or international financial, political or economic conditions or  currency exchange rates or exchange controls which in the reasonable opinion of the Administrative Agent,  the Required Tranche 1 Lenders (in the case of any Tranche 1 Loans to be denominated in an Alternative  Currency), the Required Tranche 2 Lenders (in the case of any Tranche 2 Loans to be denominated in an  Alternative Currency) or the applicable L/C Issuer (in the case of any Letter of Credit to be denominated in                                                84 

 

    an Alternative Currency) would make it impracticable for such Credit Extension to be denominated in the  relevant Alternative Currency.          Each Request for Credit Extension (other than a Committed Loan Notice requesting only a  conversion of Committed Loans to the other Type or a continuation of Eurocurrency Rate Loans) submitted  by the Company shall be deemed to be a representation and warranty that the conditions specified in  Sections 4.02(a) and (b) have been satisfied on and as of the date of the applicable Credit Extension.                                     ARTICLE V.                        REPRESENTATIONS AND WARRANTIES          Each Loan Party (except for the representation in Section 5.20 which is limited to the Company   and Foreign Obligors) represents and warrants to the Administrative Agent and the Lenders that:          5.01  Existence, Qualification and Power.  Each Loan Party and each Subsidiary of the  Company (a) is duly organized or formed, validly existing and, as applicable, in good standing under the  Laws of the jurisdiction of its incorporation or organization, (b) has all requisite power and authority and  all requisite governmental licenses, authorizations, consents and approvals to (i) own or lease its assets and  carry on its business and (ii) execute, deliver and perform its obligations under the Loan Documents to  which it is a party, and (c) is duly qualified and is licensed and, as applicable, in good standing under the  Laws of each jurisdiction where its ownership, lease or operation of properties or the conduct of its business  requires such qualification or license; except in each case referred to in clause (a) (with respect to non-Loan   Parties only), (b)(i) or (c), to the extent that failure to do so could not reasonably be expected to have a   Material Adverse Effect.          5.02  Authorization; No Contravention.  The execution, delivery and performance by each  Loan Party of each Loan Document to which such Person is party, have been duly authorized by all  necessary corporate or other organizational action, and do not and will not (a) contravene the terms of any  of such  Person'sPerson’s Organization Documents; (b) conflict with or result in any breach or contravention   of, or the creation of any Lien under, or require any payment to be made under (i) any Contractual   Obligation to which such Person is a party or affecting such Person or the properties of such Person or any   Subsidiary of the Company or (ii) any order, injunction, writ or decree of any Governmental Authority or   any arbitral award to which such Person or its (property is subject; or (c) violate any Law, except in each   case referred to in clause (b) or (c), to the extent that such conflict or violation could not reasonably be   expected to have a Material Adverse Effect.          5.03  Governmental Authorization; Other Consents.  No approval, consent, exemption,  authorization, or other action by, or notice to, or filing with, any Governmental Authority or any other  Person is necessary or required in connection with the execution, delivery or performance by, or  enforcement against, any Loan Party of this Agreement or any other Loan Document, other than (i) any  thereof as have been obtained, taken or made on or prior to the Closing Date, (ii) filings with the SEC to  the extent required by the Securities Exchange Act of 1934, and (iii) in the case of a Spanish Borrower, the  obligation of periodically reporting to the Bank of Spain the outstanding balance variations under this  Agreement pursuant to the Bank of Spain’s Circular 4/2012, dated April 25, 2012.          5.04  Binding Effect.  This Agreement has been, and each other Loan Document, when  delivered hereunder, will have been, duly executed and delivered by each Loan Party that is party thereto.   This Agreement constitutes, and each other Loan Document when so delivered will constitute, a legal, valid  and binding obligation of each Loan Party that is a party thereto, enforceable against such Loan Party in                                                85 

 

    accordance with its terms, except as may be limited by applicable Debtor Relief Laws and general principles  of equity, regardless of whether considered in a proceeding in equity or at law.         5.05  Financial Statements; No Material Adverse Effect.         (a)   The Audited Financial Statements (i) were prepared in accordance with GAAP consistently  applied throughout the period covered thereby, except as otherwise expressly noted therein; (ii) fairly  present in all material respects the financial condition of the Facility Guarantor and its Subsidiaries as of  the date thereof and their results of operations for the period covered thereby in accordance with GAAP  consistently applied throughout the period covered thereby, except as otherwise expressly noted therein;  and (iii) show all material indebtedness and other liabilities, direct or contingent, of the Facility Guarantor  and its Subsidiaries as of the date thereof, including liabilities for taxes, material commitments and  Indebtedness, in each case, to the extent required to be reflected thereon pursuant to GAAP.          (b)   The unaudited consolidated and consolidating balance sheets of the Facility Guarantor and  its Subsidiaries dated September 30, 2015, and the related consolidated and consolidating statements of  income or operations, shareholders’ equity and cash flows for the fiscal quarter ended on that date (i) were  prepared in accordance with GAAP consistently applied throughout the period covered thereby, except as  otherwise expressly noted therein, and (ii) fairly present in all material respects the financial condition of  the Facility Guarantor and its Subsidiaries as of the date thereof and their results of operations for the period  covered thereby, subject, in the case of clauses (i) and (ii), to the absence of footnotes and to normal year-  end audit adjustments.          (c)   Since the date of the Audited Financial Statements, there has been no event or  circumstance, either individually or in the aggregate, that has had or could reasonably be expected to have  a Material Adverse Effect.          5.06  Litigation.  There are no actions, suits, proceedings, claims or disputes pending or, to the  knowledge of the Loan Parties, threatened, at law, in equity, in arbitration or before any Governmental  Authority, by or against the Facility Guarantor, the Company or any of its Subsidiaries or against any of  their properties or revenues (a) that purport to affect or pertain to this Agreement or any other Loan  Document, or any of the transactions contemplated hereby, or (b) as to which there is a reasonable  possibility of an adverse determination and that, if determined adversely, either individually or in the  aggregate, could reasonably be expected to have a Material Adverse Effect.          5.07  No Default.  No Loan Party nor any Subsidiary of the Company is in default under or with  respect to any Contractual Obligation that could, either individually or in the aggregate, reasonably be  expected to have a Material Adverse Effect.  No Default has occurred and is continuing or would result  from the consummation of the transactions contemplated by this Agreement or any other Loan Document.          5.08  Ownership of Property; Liens.  Each of the Company and each of its Subsidiaries has  good record and marketable title in fee simple to, or valid leasehold interests in, all real property necessary  or used in the ordinary conduct of its business, except for such defects in title as could not, individually or  in the aggregate, reasonably be expected to have a Material Adverse Effect.  The property of the Company  and its Subsidiaries is subject to no Liens, other than Liens permitted by Section 7.01.          5.09  Environmental Compliance.  The effect of existing Environmental Laws and claims  alleging potential liability or responsibility for violation of any Environmental Law on the respective  businesses, operations and properties of the Company and its Subsidiaries could not, individually or in the  aggregate, reasonably be expected to have a Material Adverse Effect.                                               86 

 

          5.10  Insurance.  The properties of the Company and its Subsidiaries are insured with financially  sound and reputable insurance companies not Affiliates of the Facility Guarantor, in such amounts (after  giving effect to any self-insurance compatible with the following standards), with such deductibles and  covering such risks as are customarily carried by companies engaged in similar businesses and owning  similar properties in localities where the Company or the applicable Subsidiary operates.         5.11  Taxes.  The Facility Guarantor and its Subsidiaries have filed all United States federal,  state and other material tax returns and reports required to be filed, and have paid all United States federal,  state and other material taxes, assessments, fees and other governmental charges levied or imposed upon  them or their properties, income or assets otherwise due and payable, except (a) those which are being  contested in good faith by appropriate proceedings diligently conducted and for which adequate reserves  have been provided in accordance with GAAP or (b) to the extent that the failure to do so could not  reasonably be expected to result in a Material Adverse Effect.  There is no proposed tax assessment against  the Facility Guarantor or any Subsidiary that would, if made, have a Material Adverse Effect.         5.12  ERISA Compliance.         (a)   Each Plan is in compliance in all material respects with the applicable provisions of ERISA,  the Code and other Federal or state laws, except where noncompliance could not reasonably be expected to  result in aggregate liability to the Facility Guarantor and its Subsidiaries in excess of the Threshold Amount.   Each Pension Plan that is intended to be a qualified plan under Section 401(a) of the Code has received a  favorable determination letter from the IRS to the effect that the form of such Plan is qualified under Section  401(a) of the Code and the trust related thereto has been determined by the IRS to be exempt from federal  income tax under Section 501(a) of the Code, or an application for such a letter is currently being processed  by the IRS.  To the best knowledge of the Facility Guarantor, nothing has occurred that would prevent or  cause the loss of such tax-qualified status.         (b)   There are no pending or, to the best knowledge of the Facility Guarantor, threatened claims,  actions or lawsuits, or action by any Governmental Authority, with respect to any Plan that could reasonably  be expected to have a Material Adverse Effect.  There has been no prohibited transaction or violation of the  fiduciary responsibility rules with respect to any Plan that has resulted or could reasonably be expected to  result in a Material Adverse Effect.         (c)   (i) No ERISA Event has occurred, and neither the Facility Guarantor nor any ERISA  Affiliate is aware of any fact, event or circumstance that could reasonably be expected to constitute or result  in an ERISA Event with respect to any Pension Plan; (ii) the Facility Guarantor and each ERISA Affiliate  has met all applicable requirements under the Pension Funding Rules in respect of each Pension Plan, and  no waiver of the minimum funding standards under the Pension Funding Rules has been applied for or  obtained; (iii) as of the most recent valuation date for any Pension Plan, the funding target attainment  percentage (as defined in Section 430(d)(2) of the Code) is 60% or higher and neither the Facility Guarantor  nor any ERISA Affiliate knows of any facts or circumstances that could reasonably be expected to cause  the funding target attainment percentage for any such plan to drop below 60% as of the most recent  valuation date; (iv) neither the Facility Guarantor nor any ERISA Affiliate has incurred any liability to the  PBGC other than for the payment of premiums, and there are no premium payments which have become  due that are unpaid; (v) neither the Facility Guarantor nor any ERISA Affiliate has engaged in a transaction  that could be subject to Section 4069 or Section 4212(c) of ERISA; and (vi) no Pension Plan has been  terminated by the plan administrator thereof nor by the PBGC, and no event or circumstance has occurred  or exists that could reasonably be expected to cause the PBGC to institute proceedings under Title IV of  ERISA to terminate any Pension Plan.                                                87 

 

           (d)   Neither the Facility Guarantor or any ERISA Affiliate maintains or contributes to, or has   any unsatisfied obligation to contribute to, or liability under, any active or terminated Pension Plan other   than (A) on the Closing Date, those listed on Schedule 5.12 hereto and (B) thereafter, Pension Plans not   otherwise prohibited by this Agreement.          (e)   Each Borrower represents and warrants as of the Amendment No. 2 Effective Date that   such Borrower is not and will not be using “plan assets” (within the meaning of 29 CFR § 2510.3-101, as   modified by Section 3(42) of ERISA) of one or more Benefit Plans in connection with the Loans, the Letters   of Credit or the Commitments.          5.13  Subsidiaries; Joint Ventures.  As of the Closing Date, the Facility Guarantor has no  Subsidiaries other than those specifically disclosed in Part (a) of Schedule 5.13.  As of the Closing Date all   of the outstanding Equity Interests in the Company and in each of its Subsidiaries have been validly issued,   are fully paid and nonassessable, and are owned by the Person and in the amounts as specified on Part (a)   of Schedule 5.13, free and clear of all Liens, other than restrictions on transfer under applicable securities   Laws.  As of the Closing Date, neither the Company nor any of its Subsidiaries has any equity investments   in any Joint Venture other than those specifically disclosed in Part (b) of Schedule 5.13.          5.14  Margin Regulations; Investment Company Act.          (a)   No Loan Party is engaged or will engage, principally, in the business of purchasing or  carrying margin stock (within the meaning of Regulation U issued by the FRB), or extending credit for the  purpose of purchasing or carrying margin stock.  No part of the proceeds of any Loan will be used for any  purpose that violates the provisions of Regulation U. After giving effect to the application of the proceeds  of each Credit Extension, not more than twenty-five percent (25%) of the value of the assets (either of the  Company only or of the Company and its Subsidiaries on a consolidated basis) subject to the provisions of  Section 7.01 or Section 7.05 or subject to any restriction contained in any agreement or instrument between   a Loan Party and any Lender or any Affiliate of any Lender relating to Indebtedness and within the scope   of Section 8.01(e) will be margin stock (within the meaning of Regulation U issued by the FRB).          (b)   None of the Facility Guarantor, the Company, or any of its Subsidiaries is or is required to  be registered as an “investment company” under the Investment Company Act of 1940.          5.15  Disclosure.  No written report, financial statement, certificate or other written information  furnished by or on behalf of any Loan Party to the Administrative Agent or any Lender in connection with  the transactions contemplated hereby and the negotiation of this Agreement or delivered hereunder or under  any other Loan Document (in each case, as modified or supplemented by other information so furnished)  taken as a whole contains any material misstatement of fact or omits to state any material fact necessary to  make the statements therein, taken as a whole, in the light of the circumstances under which they were  made, not misleading at the time they were so provided; provided that, with respect to projected financial   information, each Loan Party represents only that such information was prepared in good faith based upon   assumptions believed by such Loan Party to be reasonable at the time (it being understood and agreed that   financial projections are not a guarantee of financial performance and actual results may differ from   financial projections and such differences may be material).          5.16  Compliance with Laws.  Each Loan Party and each Subsidiary of the Company is in   compliance in all material respects with the requirements of all Laws and all orders, writs, injunctions and   decrees applicable to it or to its properties, except in such instances in which (a) such requirement of Law   or order, writ, injunction or decree is being contested in good faith by appropriate proceedings diligently                                                88 

 

    conducted or (b) the failure to comply therewith, either individually or in the aggregate, could not  reasonably be expected to have a Material Adverse Effect.          5.17  Taxpayer Identification Number; Other Identifying Information.  The true and correct  U.S. taxpayer identification numbers of the Facility Guarantor and of the Company are set forth on Schedule   11.02.  The true and correct unique identification number of each Designated Borrower that is a Foreign   Subsidiary and a party hereto on the Closing Date that has been issued by its jurisdiction of organization   and the name of such jurisdiction are set forth on Schedule 5.17.          5.18  Intellectual Property; Licenses, Etc.  The Company and its Subsidiaries own, or possess  the right to use, all of the trademarks, service marks, trade names, copyrights, patents, patent rights,  franchises, licenses and other intellectual property rights (collectively, “IP Rights”) that are material to the   operation of their respective businesses, without conflict with the rights of any other Person, except for any   such conflicts which, individually or in the aggregate, could not reasonably be expected to have a Material   Adverse Effect.  To the best knowledge of each Loan Party, no slogan or other advertising device, product,   process, method, substance, part or other material now employed, or now contemplated to be employed, by   the Company or Subsidiary of the Company infringes upon any rights held by any other Person, except for   any such infringement which, individually or in the aggregate, could not reasonably be expected to have a   Material Adverse Effect.  No claim or litigation regarding any of the foregoing is pending or, to the best   knowledge of each Loan Party, threatened, which, either individually or in the aggregate, could reasonably   be expected to have a Material Adverse Effect.          5.19  Sanctions Restrictions.  Neither the Company, nor any of its Subsidiaries, nor, to the  knowledge of the Company and its Subsidiaries, any director, officer, employee, agent, affiliate or  representative thereof, is an individual or entity currently targeted by any Sanctions, nor is the Company or  any Subsidiary located, organized or resident in a Designated Jurisdiction.         5.20   Representations as to Foreign Obligors.  On and after the date on which any Subsidiary   becomes a Foreign Obligor, each of the Company and each Foreign Obligor represents and warrants to the   Administrative Agent and the Lenders that:          (a)   Such Foreign Obligor is subject to civil and commercial Laws with respect to its  obligations under this Agreement and the other Loan Documents to which it is a party (collectively as to  such Foreign Obligor, the “Applicable Foreign Obligor Documents”), and the execution, delivery and   performance by such Foreign Obligor of the Applicable Foreign Obligor Documents constitute and will   constitute private and commercial acts and not public or governmental acts.  Neither such Foreign Obligor   nor any of its property has any immunity from jurisdiction of any court or from any legal process (whether   through service or notice, attachment prior to judgment, attachment in aid of execution, execution or   otherwise) under the laws of the jurisdiction in which such Foreign Obligor is organized and existing in   respect of its obligations under the Applicable Foreign Obligor Documents.          (b)   The Applicable Foreign Obligor Documents are in proper legal form under the Laws of the  jurisdiction in which such Foreign Obligor is organized and existing for the enforcement thereof against  such Foreign Obligor under the Laws of such jurisdiction, and to ensure the legality, validity, enforceability,  priority or admissibility in evidence of the Applicable Foreign Obligor Documents, except as may be  limited by applicable Debtor Relief Laws and general principles of equity, regardless of whether considered  in a proceeding in equity or at law.  It is not necessary to ensure the legality, validity, enforceability, priority  or admissibility in evidence of the Applicable Foreign Obligor Documents that the Applicable Foreign  Obligor Documents be filed, registered or recorded with, or executed or notarized before, any court or other  authority in the jurisdiction in which such Foreign Obligor is organized and existing or that any registration                                               89 

 

    charge or stamp or similar tax be paid on or in respect of the Applicable Foreign Obligor Documents or any  other document, except for (i) any such filing, registration, recording, execution or notarization as has been  made or is not required to be made until the Applicable Foreign Obligor Document or any other document  is sought to be enforced and (ii) any charge or tax as has been timely paid.  In the case of a Spanish  Borrower, and to the extent that a Spanish court requires it in the context of a Spanish process on recognition  and enforcement of a judgment rendered by a New York court in relation to this Agreement, a sworn  translation into Spanish of this Agreement shall be submitted.         (c)   Other than those that, in the aggregate, could not reasonably be expected to result in a  Material Adverse Effect, there is no tax, levy, impost, duty, fee, assessment or other governmental charge,  or any deduction or withholding, imposed by any Governmental Authority in or of the jurisdiction in which  such Foreign Obligor is organized and existing either (i) on or by virtue of the execution or delivery of the  Applicable Foreign Obligor Documents or (ii) on any payment to be made by such Foreign Obligor pursuant  to the Applicable Foreign Obligor Documents, in each case except as has been disclosed to the  Administrative Agent.          (d)   The execution, delivery and performance of the Applicable Foreign Obligor Documents  executed by such Foreign Obligor are, under applicable foreign exchange control regulations of the  jurisdiction in which such Foreign Obligor is organized and existing, not subject to any notification or  authorization except (i) such as have been made or obtained or (ii) such as cannot be made or obtained until  a later date (provided that any notification or authorization described in clause (ii) shall be made or obtained   as soon as is reasonably practicable).  In the case of a Spanish Borrower, it shall periodically report to the   Bank of Spain the outstanding balance variations under this Agreement pursuant to the Bank of Spain’s   Circular 4/2012, dated April 25, 2012, to the extent applicable.          5.21  Anti-Corruption Laws.  The Company and its Subsidiaries have instituted and maintained  policies and procedures designed to promote and achieve compliance with the United States Foreign  Corrupt Practices Act of 1977, the UK Bribery Act 2010, and other applicable anti-corruption legislation  in other jurisdictions.          5.22  EEAAffected Financial Institutions.  No Loan Party is an EEAAffected Financial   Institution.          5.23  Beneficial Ownership Certification. As of the Amendment No. 2 Effective Date, the   information included in each Beneficial Ownership Certification, if applicable, is true and correct in all   respects.          5.24  Covered Entities. No Loan Party is a Covered Entity.                                     ARTICLE VI.                             AFFIRMATIVE COVENANTS          So long as any Lender shall have any Commitment hereunder, any Loan or other Obligation  hereunder shall remain unpaid or unsatisfied, or any Letter of Credit shall remain outstanding, each Loan  Party shall, and shall (except in the case of the covenants set forth in Sections 6.01, 6.02, and 6.03) cause   each Subsidiary of the Company to:          6.01  Financial Statements.  Deliver to the Administrative Agent (for delivery to each Lender):                                                 90 

 

           (a)   as soon as available, but in any event within 90 days after the end of each fiscal year of the   Facility Guarantor (commencing with the fiscal year ended December 31, 2017), a consolidated balance   sheet of the Facility Guarantor and its Subsidiaries as at the end of such fiscal year, and the related   consolidated statements of income or operations, changes in shareholders’ equity, and cash flows for such   fiscal year, together with condensed consolidating financial information, if any, provided to holders of the   Bonds, all in reasonable detail and prepared in accordance with GAAP, such consolidated statements to be   audited and accompanied by a report and opinion of an independent certified public accountant of nationally   recognized standing reasonably acceptable to the Required Lenders (it being understood and agreed that   PricewaterhouseCoopers LLP is acceptable to the Lenders), which report and opinion shall be prepared in   accordance with generally accepted auditing standards and shall not be subject to any “going concern” or   like qualification or exception or any qualification or exception as to the scope of such audit (it being agreed   that the furnishing of the Facility Guarantor’s annual report on Form 10-K for such year, as filed with the   SEC, will satisfy the Facility Guarantor’s obligation under this Section 6.01(a) with respect to such year   including with respect to the requirement that such financial statements be reported on without a “going   concern” or like qualification or exception or any qualification or exception as to the scope of such audit,   so long as the report included in such Form 10-K does not contain any “going concern” or like qualification   or exception); and          (b)   as soon as available, but in any event within 45 days after the end of each of the first three   fiscal quarters of each fiscal year of the Facility Guarantor (commencing with the fiscal quarter ending   September 30, 2017), a consolidated balance sheet of the Facility Guarantor and its Subsidiaries as at the   end of such fiscal quarter, and the related consolidated statements of income or operations for such fiscal   quarter and for the portion of the Facility Guarantor’s fiscal year then ended, and the related consolidated   statements of changes in shareholders’ equity, and cash flows for the portion of the Facility Guarantor’s   fiscal year then ended, together with condensed consolidating financial information, if any, provided to   holders of the Bonds, and setting forth in each case in comparative form, as applicable, the figures for the   corresponding fiscal quarter of the previous fiscal year and the corresponding portion of the previous fiscal   year, all in reasonable detail, (A) such consolidated statements to be certified by a Responsible Officer of   the Facility Guarantor as fairly presenting in all material respects the financial condition, results of   operations, shareholders’ equity and cash flows of the Facility Guarantor and its Subsidiaries in accordance   with GAAP, subject only to normal year-end audit adjustments and the absence of footnotes and (B) any   such consolidating statements to be certified by a Responsible Officer of the Facility Guarantor to the effect   that such statements are fairly stated in all material respects when considered in relation to the consolidated   financial statements of the Facility Guarantor and its Subsidiaries (it being agreed that the furnishing of the   Facility Guarantor’s quarterly report on Form 10-Q for such quarter, as filed with the SEC, will satisfy the   Facility Guarantor’s obligations under this Section 6.01(b)) with respect to such quarter).    As to any information contained in materials furnished pursuant to Section 6.02(c), the Loan Parties shall   not be separately required to furnish such information under subsection (a) or (b) above, but the foregoing   shall not be in derogation of the obligation of the Loan Parties to furnish the information and materials   described in subsections (a) and (b) above at the times specified therein.          6.02  Certificates; Other Information.  Deliver to the Administrative Agent (for delivery to  each Lender):          (a)   concurrently with the delivery of the financial statements referred to in Sections 6.01(a)   and (b) (commencing with the delivery of the financial statements for the fiscal year ended December 31,   2015), a duly completed Compliance Certificate signed by the chief executive officer, chief financial   officer, treasurer, assistant treasurer or controller of the Facility Guarantor (which delivery may, unless the                                                91 

 

    Administrative Agent, or a Lender requests executed originals, be by electronic communication including  fax or email and shall be deemed to be an original authentic counterpart thereof for all purposes);         (b)   promptly after any request by the Administrative Agent or any Lender, copies of any  detailed audit reports, management letters or recommendations submitted to the board of directors (or the  audit committee of the board of directors) of the Facility Guarantor by independent accountants in  connection with the accounts or books of the Facility Guarantor, the Company or any of its Subsidiaries, or  any audit of any of them;         (c)   promptly after the same are available, copies of each annual report, proxy or financial  statement or other report or communication sent to the stockholders of the Facility Guarantor, and copies  of all annual, regular, periodic and special reports and registration statements which the Facility Guarantor  or the Company may file or be required to file with the SEC under Section 13 or 15(d) of the Securities  Exchange Act of 1934, and not otherwise required to be delivered to the Administrative Agent pursuant  hereto;          (d)   promptly after the furnishing thereof, copies of any statement or report furnished to any  holder of the Bonds or other debt securities of any Loan Party or any Subsidiary of the Company pursuant  to the terms of any indenture, loan or credit or similar agreement and not otherwise required to be furnished  to the Lenders pursuant to Section 6.01 or any other clause of this Section 6.02;          (e)   promptly, and in any event within 15 calendar days after receipt thereof by any Loan Party  or any Subsidiary thereof, copies of each written notice or other correspondence received from the Division  of Enforcement of the SEC (or comparable agency in any applicable non-U.S. jurisdiction) concerning any  investigation or possible investigation or other inquiry by such agency regarding financial or other  operational results of any Loan Party or any Subsidiary of the Company; and          (f)   promptly, such additional information regarding the business, financial or corporate affairs  of the Facility Guarantor, the Company or any of its Subsidiaries, or compliance with the terms of the Loan  Documents, as the Administrative Agent or any Lender may from time to time reasonably request.          Notwithstanding anything to the contrary in this Section 6.02, none of the Facility Guarantor, the   Company or any of its Subsidiaries will be required to disclose or permit the inspection or discussion of,   any document, information or other matter (i) that constitutes non-financial trade secrets or non-financial   proprietary information, (ii) in respect of which disclosure to the Administrative Agent or the Lenders (or   their respective representatives) is prohibited by Requirement of Law or any binding   agreement; provided that the Facility Guarantor and the Company agree to use commercially reasonable   efforts to overcome any such Requirement of Law or any binding agreement, or (iii) that is subject to   attorney client or similar privilege or constitutes attorney work product; provided, in each case, that none   of the foregoing exceptions shall excuse the Company from providing a duly completed Compliance   Certificate in accordance with Section 6.02(a).          Documents required to be delivered pursuant to Section 6.01(a) or (b) or Section 6.02(c) may be   delivered electronically and if so delivered, shall be deemed to have been delivered on the date (i) on which   the Facility Guarantor posts such documents, or provides a link thereto on the Facility Guarantor’s website   on the Internet at the website address listed on Schedule 11.02; or (ii) on which such documents are posted   on the Facility Guarantor’s behalf on an Internet or intranet website, if any, to which each Lender and the   Administrative Agent have access (whether a commercial, third-party website or whether sponsored by the  Administrative Agent); provided that: (i) the Company shall deliver paper copies of such documents to the   Administrative Agent or any Lender upon its request to the Company to deliver such paper copies until a                                               92 

 

     written request to cease delivering paper copies is given by the Administrative Agent or such Lender and   (ii) the Company shall notify the Administrative Agent and each Lender (by facsimile or electronic mail)   of the posting of any such documents and provide to the Administrative Agent by electronic mail electronic   versions (i.e., soft copies) of such documents.  The Administrative Agent shall have no obligation to request   the delivery of or to maintain paper copies of the documents referred to above, and in any event shall have   no responsibility to monitor compliance by the Company with any such request by a Lender for delivery,   and each Lender shall be solely responsible for requesting delivery to it or maintaining its copies of such   documents.          Each Loan Party hereby acknowledges that (a) the Administrative Agent and/or the Arrangers may,  but shall not be obligated to, make available to the Lenders and the L/C Issuers materials and/or information  provided by or on behalf of the Loan Parties (the “Loan Party Materials”) by posting the Loan Party   Materials on DebtDomain, IntraLinks, Syndtrak, ClearPar or another similar electronic system (the   “Platform”) and (b) certain of the Lenders (each, a “Public Lender”) may have personnel who do not wish   to receive material non-public information with respect to any of the Loan Parties or their respective   Affiliates, or the respective securities of any of the foregoing, and who may be engaged in investment and   other market-related activities with respect to such Persons’ securities.  Each Loan Party hereby agrees that   so long as any Loan Party is the issuer of any outstanding debt or equity securities that are registered or   issued pursuant to a private offering or is actively contemplating issuing any such securities (w) all Loan   Party Materials that are to be made available to Public Lenders shall be clearly and conspicuously marked   “PUBLIC” which, at a minimum, shall mean that the word “PUBLIC” shall appear prominently on the first   page thereof; (x) by marking Loan Party Materials “PUBLIC”, each Loan Party shall be deemed to have   authorized the Administrative Agent, the Arrangers, the L/C Issuers and the Lenders to treat the Loan Party   Materials as not containing any material non-public information with respect to any Loan Party or its  securities for purposes of United States Federal and state securities laws (provided, however, that to the   extent the Loan Party Materials constitute Information, they shall be treated as set forth in Section 11.07);   (y) all Loan Party Materials marked “PUBLIC” are permitted to be made available through a portion of the   Platform designated “Public Side Information;” and (z) the Administrative Agent and the Arrangers shall  be entitled to treat the Loan Party Materials that are not marked “PUBLIC” as being suitable only for  posting on a portion of the Platform not designated “Public Side Information.”          Notwithstanding the foregoing, no Loan Party shall be under any obligation to mark the Loan Party  Materials “PUBLIC.”          6.03  Notices.  Promptly notify the Administrative Agent upon any Responsible Officer of the  Facility Guarantor, the Company, or any Designated Borrower obtaining actual knowledge of:          (a)   the occurrence of any Default;          (b)   any matter that has resulted or could reasonably be expected to result in a Material Adverse   Effect, including (i) breach or non-performance of, or any default under, a Contractual Obligation of the  Facility Guarantor, the Company or any of its Subsidiaries; (ii) any dispute, litigation, investigation,  proceeding or suspension between the Facility Guarantor, the Company or any of its Subsidiaries and any  Governmental Authority; (iii) the commencement of, or any material development in, any litigation or  proceeding affecting the Facility Guarantor, the Company or any of its Subsidiaries, including pursuant to  any applicable Environmental Laws; or (iv) the occurrence of any ERISA Event, in each case, that has  resulted or could reasonably be expected to result in a Material Adverse Effect;          (c)   any material change in accounting policies or financial reporting practices by the Facility  Guarantor, the Company or any of its Subsidiaries; and                                               93 

 

          (d)   any announcement by S&P or Moody’s of any change in a Debt Rating.          Each notice pursuant to this Section 6.03 (other than Section 6.03(d)) shall be accompanied by a   statement of a Responsible Officer of the applicable Loan Party setting forth details of the occurrence   referred to therein and stating what action the Loan Parties have taken and propose to take with respect   thereto.  Each notice pursuant to Section 6.03(a) shall describe with particularity any and all provisions of   this Agreement and any other Loan Document that have been breached.          6.04  Payment of Obligations.  Pay and discharge as the same shall become due and payable  (subject to any applicable grace periods), all its obligations and liabilities, including (a) all tax liabilities,  assessments and governmental charges or levies upon it or its properties or assets; (b) all lawful claims  which, if unpaid, would by law become a Lien upon its property; and (c) all Indebtedness (other than  Indebtedness that individually or in the aggregate does not exceed the Threshold Amount), as and when  due and payable, but subject to any subordination provisions contained in any instrument or agreement  evidencing such Indebtedness, unless, in each case, (i) the same are being contested in good faith by  appropriate proceedings diligently conducted and adequate reserves in accordance with GAAP are being  maintained by the Facility Guarantor, the Company or such Subsidiary or (ii) the failure to so pay or  discharge could not reasonably be expected to have, either individually or in the aggregate, a Material  Adverse Effect.          6.05  Preservation of Existence, Etc.  (a) Preserve, renew and maintain in full force and effect  its legal existence and, if applicable, good standing under the Laws of the jurisdiction of its organization  except (i) in a transaction permitted by Section 7.04 or 7.05 or (ii) in the case of a Subsidiary of the Company   (other than a Designated Borrower, with respect to the legal existence thereof), where the failure to do so   could not reasonably be expected to have a Material Adverse Effect; (b) take all reasonable action to   maintain all rights, privileges, permits, licenses and franchises necessary or desirable in the normal conduct   of its business, except in a transaction permitted by Section 7.04 or Section 7.05 or to the extent that failure   to do so could not reasonably be expected to have a Material Adverse Effect; and (c) preserve or renew all   of its registered patents, trademarks, trade names and service marks, the non-preservation of which could   reasonably be expected to have a Material Adverse Effect.  In the case of a Luxembourg Borrower, it shall   maintain its registered office, its central administration, within the meaning of the Luxembourg law of   August 10, 1915 on commercial companies, as amended, and Luxembourg domestic tax laws, and the centre   of its main interests, within the meaning of Council Regulation EC 1346/2000 of May 29, 2000 on   insolvency proceedings, in Luxembourg.          6.06  Maintenance of Properties.  (a) Maintain, preserve and protect all of its material   properties and equipment necessary in the operation of its business in good working order and condition,   ordinary wear and tear excepted; and (b) make all necessary repairs thereto and renewals and replacements   thereof, in the case of each of clauses (a) and (b) except where the failure to do so could not reasonably be   expected to have a Material Adverse Effect.          6.07  Maintenance of Insurance.  Maintain with financially sound and reputable insurance   companies not Affiliates of the Facility Guarantor, insurance with respect to its properties and business   against loss or damage of the kinds customarily insured against by Persons engaged in the same or similar   business and owning similar properties in localities where the Company or any of its Subsidiaries operates,   of such types and in such amounts (after giving effect to any self insurance compatible with such standards)   as are customarily carried under similar circumstances by such other Persons.          6.08  Compliance with Laws.  Comply in all material respects with the requirements of all Laws   and all orders, writs, injunctions and decrees applicable to it or to its business or property, except in such                                               94 

 

    instances in which (a) such requirement of Law or order, writ, injunction or decree is being contested in  good faith by appropriate proceedings diligently conducted; or (b) the failure to comply therewith could not  reasonably be expected to have a Material Adverse Effect.         6.09  Books and Records.  Maintain proper books of record and account in a manner to allow  financial statements to be prepared in conformity with GAAP consistently applied in respect of all material  financial transactions and matters involving the assets and business of the Facility Guarantor and its  Subsidiaries, taken as a whole.          6.10  Inspection Rights.  Permit representatives and independent contractors of the  Administrative Agent and each Lender to visit and inspect any of its properties, to examine its corporate,  financial and operating records, and make copies thereof or abstracts therefrom, and to discuss its affairs,  finances and accounts with its Responsible Officers at any meeting which may be scheduled for that purpose  by the Administrative Agent (at the request of any Lender) not more than once in any six month period;  provided that the Administrative Agent will give all Lenders and the Company not less than 5 Business   Days advance notice of any such requested meeting; and provided, further, that when an Event of Default   exists the Administrative Agent or any Lender (or any of their respective representatives or independent   contractors) may do any of the foregoing at the expense of the Company at any time during normal business   hours and without advance notice.  Notwithstanding anything to the contrary in this Section 6.10, none of   the Facility Guarantor, the Company or any of its Subsidiaries will be required to disclose or permit the   inspection or discussion of, any document, information or other matter (i) that constitutes non-financial   trade secrets or non-financial proprietary information, (ii) in respect of which disclosure to the   Administrative Agent or the Lenders (or their respective representatives) is prohibited by Requirement of   Law or any binding agreement; provided that the Facility Guarantor and the Company agree to use   commercially reasonable efforts to overcome any such Requirement of Law or any binding agreement or   (iii) that is subject to attorney client or similar privilege or constitutes attorney work product (provided, that   the Borrower shall notify the Administrative Agent promptly upon obtaining knowledge that any such   document, information or other matter is being withheld).          6.11  Use of Proceeds.  Use the proceeds of the Credit Extensions for general corporate purposes  not in contravention of any Law or of any Loan Document.          6.12  Approvals and Authorizations.  Except to the extent that non-compliance could not   reasonably be expected to have a Material Adverse Effect, maintain all authorizations, consents, approvals   and licenses from, exemptions of, and filings and registrations with, each Governmental Authority of the   jurisdiction in which each Foreign Obligor is organized and existing, and all approvals and consents of each   other Person in such jurisdiction, in each case that are required in connection with the Loan Documents.          6.13  Sanctions.  Maintain policies and procedures designed to promote and achieve compliance   with Sanctions.          6.14  Anti-Corruption Laws.  Maintain policies and procedures designed to promote and   achieve compliance with the United States Foreign Corrupt Practices Act of 1977, the UK Bribery Act   2010, and other applicable anti-corruption legislation in other jurisdictions.          6.15  Joinder of Scripps to the Credit Agreement. If, following the Acquisition, (a) Scripps   and the Scripps Acquired Business (or any portion thereof) are Subsidiaries of the Facility Guarantor but   not Subsidiaries of the Company or (b) the Existing Scripps Notes remain obligations of Scripps, the   Facility Guarantor shall (x) cause Scripps and the Acquired Business (or such portion thereof) to comply   with this Agreement as if they were Subsidiaries of the Company and (y) cause Scripps to sign a customary                                               95 

 

     joinder agreement to this Agreement within 30 calendar days of the Scripps Acquisition Closing Date (as   such time period may be extended by the Administrative Agent, in its sole discretion) to Guarantee the   Obligations hereunder as provided for in Article X and, in the case of any such joinder executed by Scripps,   causing counsel to the Company to deliver a customary legal opinion relating thereto addressed to the   Administrative Agent and the Lenders.          6.16  Additional Guarantors.  If any Material Subsidiary of the Facility Guarantor guarantees   Indebtedness for borrowed money of the Facility Guarantor or the Company in an outstanding principal   amount or committed amount in excess of the Threshold Amount, the Facility Guarantor shall within 10   Business Days (as such time period may be extended by the Administrative Agent, in its sole discretion)   cause such Material Subsidiary to execute a customary joinder to this Agreement to Guarantee the   Obligations hereunder as provided for in Article X.                                    ARTICLE VII.                               NEGATIVE COVENANTS          So long as any Lender shall have any Commitment hereunder, any Loan or other Obligation  hereunder shall remain unpaid or unsatisfied, or any Letter of Credit shall remain outstanding, the Company  shall not, nor shall it permit any of its Subsidiaries to (and solely in respect of the covenants and agreements  in Section 7.04 and the proviso in Section 7.06, the Facility Guarantor shall not), directly or indirectly:          7.01  Liens.  Create, incur, assume or suffer to exist any Lien upon any of its property, assets or  revenues, whether now owned or hereafter acquired, other than the following:          (a)   Liens pursuant to any Loan Document;          (b)   Liens existing on the date hereof and listed on Schedule 7.01 and any renewals or   extensions thereof, provided that (i) the property covered thereby is not changed, (ii) the amount secured   or benefited thereby is not increased except as contemplated by Section 7.03(b), and (iii) any renewal or   extension of the obligations secured or benefited thereby is permitted by Section 7.03(b);          (c)   Liens for Taxes not yet due or which are being contested in good faith and by appropriate   proceedings diligently conducted, if adequate reserves with respect thereto are maintained on the books of   the applicable Person in accordance with GAAP;          (d)   carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s, laborer’s, landlord’s   or other like Liens arising in the ordinary course of business which are not overdue for a period of more   than 30 days or which are being contested in good faith and by appropriate proceedings diligently   conducted, if adequate reserves with respect thereto are maintained on the books of the applicable Person   in accordance with GAAP;          (e)   pledges or deposits in the ordinary course of business in connection with workers’   compensation, unemployment insurance and other social security legislation, other than any Lien imposed   by ERISA;          (f)   deposits to secure the performance of bids, trade contracts and leases (other than   Indebtedness), statutory obligations, surety bonds (other than bonds related to judgments or litigation),  performance bonds and other obligations of a like nature incurred in the ordinary course of business,  including cash collateralization in respect of letters of credit;                                                96 

 

          (g)   easements, rights-of-way, restrictions and other similar encumbrances affecting real  property which, in the aggregate, are not substantial in amount, and which do not in any case materially  detract from the value of the property subject thereto or materially interfere with the ordinary conduct of  the business of the applicable Person;          (h)   Liens securing judgments for the payment of money not constituting an Event of Default  under Section 8.01(h) or securing appeal or other surety bonds related to such judgments;          (i)   Liens encumbering the Company’s or any of its Subsidiary’s equity interests or other  Investments in any Joint Venture (i) securing obligations (other than Indebtedness) of the Company or such  Subsidiary under the Joint Venture Agreement for such Joint Venture or (ii) in the nature of customary  voting, equity transfer, redemptive rights or similar terms (other than Liens securing Indebtedness) under  any such agreement;          (j)   Liens securing Indebtedness of a Subsidiary of the Company to the Company or another  Subsidiary of the Company permitted under Section 7.03(c); provided, however, that, except as   contemplated under Section 7.01(m), no promissory note or other instrument evidencing such Indebtedness   shall be subject to any Lien or otherwise pledged in favor of any Person, other than the Company or a   Subsidiary of the Company;          (k)   Liens securing Indebtedness permitted under Section 7.03(e); provided that (i) such Liens   do not at any time encumber any property other than the property financed by such Indebtedness and (ii)   the Indebtedness secured thereby does not exceed the cost or fair market value, whichever is lower, of the   property being acquired on the date of acquisition;          (l)   Liens incurred on any date of determination (including Liens securing Indebtedness  permitted under Section 7.03(f)); provided that (i) at the time of the incurrence of such Lien no Designated   Default or other Event of Default shall then exist and no Event of Default would result from such incurrence   giving Pro Forma Effect to such Lien and (ii) the principal amount secured by such Liens and all other then   outstanding secured Indebtedness of the Company and its Subsidiaries (including Indebtedness secured by   Liens permitted by Section 7.01(b), Liens incurred pursuant to Section 7.01(k) and other Liens incurred   pursuant to this Section 7.01(l)) and all then outstanding unsecured Indebtedness of Subsidiaries of the   Company that are not Subsidiary Guarantors, in aggregate, does not exceed the Permitted Priority Amount   on such date;          (m)   Liens securing the Bonds, the Scripps Acquisition Bonds or the Existing Scripps Notes if  required pursuant to the terms thereof, provided, however, that the Obligations shall also be ratably secured   by any such Lien on terms reasonably satisfactory to the Administrative Agent;          (n)   licenses, leases (other than Capital Leases) or subleases granted to others not interfering in  any material respect with the business of the Company or any of its Subsidiaries;         (o)    any interest of title of a lessor under, and Liens arising from UCC financing statements (or  equivalent filings, registrations or agreements in foreign jurisdictions) relating to, leases otherwise  permitted by this Agreement;         (p)    normal and customary rights of setoff upon deposits of cash in favor of banks or other  depository institutions;                                                 97 

 

          (q)   Liens on assets of the Company or any of its Subsidiaries maintained with providers of  Banking Services;         (r)   Liens upon real property heretofore leased or leased after the Closing Date (under operating  or Capital Leases) in the ordinary course of business by the Company or any of its Subsidiaries, as lessee,  in favor of the lessor of such property created at the inception of the lease transaction, securing obligations  of the Company or any of its Subsidiaries under or in respect of such lease and extending to or covering  only the property subject to such lease and improvements thereon;         (s)   Liens created in favor of a producer or supplier of television programming or films over  distribution revenues and/or distribution rights which are allocable to such producer or supplier under  related distribution agreements;         (t)   Liens of a collection bank arising under Section 4-208 of the New York Uniform  Commercial Code (or similar provision of other applicable jurisdiction) on items in the course of collection;  and          (u)   Liens existing on property or assets of the Scripps Acquired Business as of, or provided for   under written arrangements existing as of, the Scripps Acquisition Closing Date; provided, however, that   such Liens are not created in contemplation of the Scripps Acquisition, and that such Liens are limited to   all or part of the same property or assets (plus improvements, accessions, proceeds or dividends or   distributions in respect thereof) that secured (or, under the written arrangements under which such Liens   arose, could secure) the obligations to which such Liens relate.          7.02  Investments.  Make any Investments, except:          (a)   Investments held by the Company or any of its Subsidiaries existing on the date hereof;          (b)   Investments held by the Company or any of its Subsidiaries in the form of cash or cash   equivalents;          (c)   (i) Investments consisting of extensions of credit in the nature of accounts receivable or  notes receivable arising from the grant of trade credit in the ordinary course of business, (ii) Investments  received in satisfaction or partial satisfaction thereof from financially troubled account debtors to the extent  reasonably necessary in order to prevent or limit loss; and (iii) Investments received in connection with a  Disposition permitted under Section 7.05;          (d)   Guarantees or Swap Contracts permitted by Section 7.03; and, to the extent constituting   Investments, Restricted Payments permitted by Section 7.06;          (e)   Investments (i) by the Company in any wholly-owned Subsidiary of the Company and (ii)  by any Subsidiary of the Company in any wholly-owned Subsidiary of the Company;          (f)   other Investments not otherwise permitted under this Section 7.02; provided that at the time   of such Investment no Designated Default or any other Event of Default shall then exist and no Event of   Default would result from such Investment giving Pro Forma Effect to such Investment;          (g)   any Investment held by the Scripps Acquired Business as of, or entered into pursuant to   written arrangements existing as of, the Scripps Acquisition Closing Date so long as such Investment was   not acquired by such Person in contemplation of the Scripps Acquisition; and                                                98 

 

          (h)   Investments made by the Company or any of its Subsidiaries pursuant to or in connection  with the Scripps Transactions.         7.03  Indebtedness.  Create, incur, assume or suffer to exist any Indebtedness, except:         (a)   Indebtedness under the Loan Documents;          (b)   Indebtedness outstanding on the date hereof under the Bonds or otherwise listed on  Schedule 7.03 and any refinancings, refundings, renewals or extensions thereof; provided that (i) the   amount of such Indebtedness is not increased at the time of such refinancing, refunding, renewal or   extension except by an amount equal to a reasonable premium or other reasonable amount paid, and fees   and expenses reasonably incurred, in connection with such refinancing and by an amount equal to any   existing commitments unutilized thereunder and (ii) in the case of the Bonds or any other such Indebtedness   of the Company, no Subsidiary of the Company that is not a Subsidiary Guarantor shall become liable in   respect of such Indebtedness;          (c)   (i) Indebtedness (other than Guarantees) (A) of the Company to any of its wholly-owned  Subsidiaries, (B) of any wholly-owned Subsidiary of the Company to the Company or any other such  Subsidiary, and (C) of any non-wholly-owned Subsidiary of the Company to the Company or any wholly-  owned Subsidiary; and (ii) Guarantees (A) of the Company in respect of Indebtedness otherwise permitted   hereunder of any wholly-owned Subsidiary of the Company, and (B) of any Subsidiary of the Company in   respect of Indebtedness otherwise permitted hereunder of the Company or any wholly-owned Subsidiary  of the Company;          (d)   obligations (contingent or otherwise) of the Company or any of its Subsidiaries existing or  arising under any Swap Contract; provided that (i) such obligations are (or were) entered into by such   Person in the ordinary course of business for the purpose of directly mitigating risks associated with   liabilities, commitments, investments, assets, or property held or reasonably anticipated by the Company   or any of its Subsidiaries, or changes in the value of securities issued by any such Person, and not for   purposes of speculation or taking a “market view;” and (ii) such Swap Contract does not contain any   provision exonerating the non-defaulting party from its obligation to make payments on outstanding   transactions to the defaulting party;          (e)   Indebtedness in respect of Capital Leases, Synthetic Lease Obligations and purchase  money obligations for fixed or capital assets within the limitations set forth in Section 7.01(k); provided,   however, that the aggregate amount of all such Indebtedness outstanding on any date, together with the then   outstanding amount of all other secured Indebtedness of the Company and its Subsidiaries and all unsecured   Indebtedness of Subsidiaries of the Company that are not Subsidiary Guarantors shall not exceed the  Permitted Priority Amount on such date;          (f)   other secured Indebtedness of the Company and its Subsidiaries; provided that (i) at the   time of the incurrence of such Indebtedness no Designated Default or other Event of Default shall then exist   and no Event of Default would result from such incurrence giving Pro Forma Effect to such Indebtedness,   and (ii) the Indebtedness incurred pursuant to this Section 7.03(f) on any date, together with, without   duplication, all then outstanding (A) other secured Indebtedness of the Company and its Subsidiaries   incurred pursuant to this Section 7.03(f), (B) secured Indebtedness of the Company and its Subsidiaries and   unsecured Indebtedness of Subsidiaries of the Company that are not Subsidiary Guarantors permitted   pursuant to Section 7.03(b), (C) unsecured Indebtedness of Subsidiaries of the Company that are not   Subsidiary Guarantors permitted pursuant to Section 7.03(g), (D) Indebtedness of the Company and its   Subsidiaries permitted pursuant to Section 7.03(e), (E) Indebtedness of Subsidiaries of Scripps that are not                                               99 

 

   Subsidiary Guarantors permitted pursuant to Section 7.03(i) and, if Scripps is not a Subsidiary Guarantor  hereunder, Indebtedness of Scripps permitted pursuant to Section 7.03(i) and (F) Indebtedness secured by  Liens permitted pursuant to Section 7.01(l), in aggregate, does not exceed the Permitted Priority Amount  on such date;         (g)   unsecured Indebtedness of the Company and its Subsidiaries; provided that (i) at the time  of the incurrence of such Indebtedness no Designated Default or other Event of Default shall then exist and  no Event of Default would result from such incurrence after giving Pro Forma Effect to such Indebtedness  and (ii) in the case of the incurrence of any such Indebtedness by a Subsidiary of the Company that is not  a Subsidiary Guarantor on any date, such Indebtedness, together with, without duplication, all then  outstanding (A) other Indebtedness of Subsidiaries of the Company that are not Subsidiary Guarantors  incurred pursuant to this Section 7.03(g), (B) secured Indebtedness of the Company and its Subsidiaries  and unsecured Indebtedness of Subsidiaries of the Company that are not Subsidiary Guarantors permitted  pursuant to Section 7.03(b), (C) secured Indebtedness of the Company and its Subsidiaries permitted  pursuant to Section 7.03(f), (D) Indebtedness of the Company and its Subsidiaries permitted pursuant  to Section 7.03(e), (E) Indebtedness of the Subsidiaries of Scripps that are not Subsidiary Guarantors  permitted pursuant to Section 7.03(i) and, if Scripps is not a Subsidiary Guarantor hereunder, Indebtedness  of Scripps permitted pursuant to Section 7.03(i) and (F) Indebtedness secured by Liens permitted pursuant  to Section 7.01(l), in aggregate, does not exceed the Permitted Priority Amount on such date; and         (h)   Indebtedness of the Company or any of its Subsidiaries incurred in the ordinary course of  business as an account party in respect of (i) letters of credit in an aggregate face amount not to exceed  $10,000,000 or (ii) with respect to any surety bonds, performance bonds, customs bonds, statutory, appeal  or similar bonds, completion guarantees or other obligations of a like nature in an aggregate amount not to  exceed $10,000,000;         (i)   Indebtedness of the Scripps Acquired Business (including the Existing Scripps Notes)  outstanding as of the Scripps Acquisition Closing Date so long as such Indebtedness was not incurred in  contemplation of the Scripps Acquisition and any refinancings, refundings, renewals or extensions thereof  (which refinancing, refunding, renewal or extension may be incurred by the Company or any of its  Subsidiaries); provided that (i) the amount of such Indebtedness is not increased at the time of such  refinancing, refunding, renewal or extension except by an amount equal to a reasonable premium or other  reasonable amount paid, and fees and expenses reasonably incurred, in connection with such refinancing  and (ii) so long as the Existing Scripps Notes (and any refinancings, refundings, renewals or extensions  thereof) remain outstanding obligations of a Subsidiary of the Company that is not a Subsidiary Guarantor,  such Indebtedness, together with, without duplication, all then outstanding (A) Indebtedness of Subsidiaries  of the Company that are not Subsidiary Guarantors incurred pursuant to Section 7.03(g), (B) secured  Indebtedness of the Company and its Subsidiaries and unsecured Indebtedness of Subsidiaries of the  Company that are not Subsidiary Guarantors permitted pursuant to Section 7.03(b), (C) secured  Indebtedness of the Company and its Subsidiaries permitted pursuant to Section 7.03(f), (D) Indebtedness  of the Company and its Subsidiaries permitted pursuant to Section 7.03(e) and (E) Indebtedness secured by  Liens permitted pursuant to Section 7.01(l), in aggregate, does not exceed the Permitted Priority Amount  on such date;         (j)   Indebtedness of the Company incurred pursuant to the Scripps Acquisition Bonds and/or  the Bridge Facility and any refinancings, refundings, renewals or extensions thereof; provided that (i) the  amount of such Indebtedness is not increased at the time of such refinancing, refunding, renewal or  extension except by an amount equal to a reasonable premium or other reasonable amount paid, and fees  and expenses reasonably incurred, in connection with such refinancing and (ii) no Subsidiary of the  Company that is not a Subsidiary Guarantor shall become liable in respect of such Indebtedness; and                                           100 

 

           (k)   Indebtedness under the Scripps Acquisition Credit Agreement and any refinancings,   refundings, renewals or extensions thereof, in each case in a maximum principal amount at any time   outstanding not exceeding in the aggregate the amount equal to (i) $2,000,000,000, plus (ii) in the event of   any refinancing of any such Indebtedness, the aggregate amount of fees, underwriting discounts, premiums   and other costs and expenses incurred in connection with such refinancing.          7.04  Fundamental Changes.  Merge, dissolve, liquidate, consolidate with or into another  Person, or Dispose of (whether in one transaction or in a series of transactions) all or substantially all of its  assets (whether now owned or hereafter acquired) to or in favor of any Person, except that, (x) any  Subsidiary may merge with or into Scripps pursuant to or in connection with the Scripps Acquisition and  (y) so long as no Designated Default or other Event of Default then exists and no Event of Default would  result from such transaction after giving Pro Forma Effect to such transaction:          (a)   each Loan Party may merge with any other Person (other than another Loan Party);   provided that (i) such Loan Party shall be the continuing or surviving Person, and (ii) immediately after   giving effect to such merger such surviving Loan Party shall affirm its Obligations hereunder in a writing   to the Lender Parties satisfactory to the Administrative Agent;          (b)   any Subsidiary of the Company may merge with (i) the Company, provided that the   Company shall be the continuing or surviving Person and promptly after giving effect to such merger the   Company shall reaffirm its Obligations hereunder in a writing to the Lender Parties satisfactory to the   Administrative Agent, or (ii) any one or more other such Subsidiaries or any other Person;          (c)   any Subsidiary of the Company (other than the Designated Borrowers) may Dispose of all   or substantially all of its assets (upon voluntary liquidation, dissolution or otherwise) to the Company or to   any other Person; and          (d)   the Facility Guarantor may Dispose of all or substantially all of its assets to the Company   or a Subsidiary of the Company.          7.05  Dispositions.  Make any Disposition, except:          (a)   Dispositions of obsolete or worn out property, whether now owned or hereafter acquired,   in the ordinary course of business;          (b)   Dispositions of inventory in the ordinary course of business;          (c)   Dispositions of equipment or real property to the extent that (i) such property is exchanged   for credit against the purchase price of similar replacement property or (ii) the proceeds of such Disposition   are reasonably promptly applied to the purchase price of such replacement property;          (d)   Dispositions of property by the Company to any wholly-owned Subsidiary of the Company   or by any Subsidiary of the Company to the Company or a wholly-owned Subsidiary of the Company;          (e)   licenses of IP Rights in the ordinary course of business;          (f)   Dispositions permitted by Section 7.04 and Restricted Payments permitted by Section 7.06;   and                                                101 

 

           (g)   Dispositions by the Company and its Subsidiaries of property pursuant to sale-leaseback  transactions and other Dispositions by the Company and its Subsidiaries not otherwise permitted under this  Section 7.05; provided that at the time of such Disposition, no Designated Default or other Event of Default   shall then exist and no Event of Default would result from such Disposition giving Pro Forma Effect to   such Disposition.          7.06  Restricted Payments.    DeclareWith respect to the Company and its Subsidiaries, declare   or make, directly or indirectly, any Restricted Payment, or incur any obligation (contingent or otherwise)   to do so, or issue or sell any of their respective Equity Interests, except that:          (a)   each Subsidiary of the Company (other than Scripps, for so long as it is not a Subsidiary  of the Company (without giving effect to clause (y) of the final sentence of the definition thereof)) may  declare and make dividend payments in cash with respect to any class of Equity Interests of such Subsidiary  to the then holders of such Equity Interests ratably according to their respective holdings;          (b)   the Company and each of its Subsidiaries may declare and make dividend payments or  other distributions payable solely in the common stock or other common Equity Interests of such Person to  the then holders of such Equity Interests ratably according to their respective holdings;          (c)   the Company and Scripps may declare and make dividend payments in cash to the Facility   Guarantor (directly or through any Subsidiary of the Facility Guarantor) in an aggregate amount for any   period not greater than an amount sufficient to permit the Facility Guarantor to (i) make payments pursuant   to and in accordance with stock option plans or other management plans for management or employees of   the Facility Guarantor, the Company and its Subsidiaries during such period, (ii) pay any Taxes of the   Facility Guarantor, the Company and its Subsidiaries which are due and payable, (iii) pay customary   directors’ fees paid to the members of Facility Guarantor’s board of directors, in their capacity as such, and   the reimbursement for necessary and reasonable out-of-pocket expenses of such members in their capacities   as such, in each case arising from their direct service as members of such board of directors, (iv) pay   ordinary course overhead expenses of the Facility Guarantor (including administrative, legal, accounting   and similar expenses payable to third parties), (v) pay customary third party advisor fees and expenses owed   by the Facility Guarantor in the ordinary course of its business, (vi) pay customary director and officers   insurance premiums owed by the Facility Guarantor with respect to its officers and directors in the ordinary   course of its business and (vii) pay customary and reasonable indemnification claims made by directors and   officers of the Facility Guarantor;          (d)   the Company and each of its Subsidiaries may issue and sell their respective Equity  Interests and may make Restricted Payments not otherwise permitted by this Section 7.06; provided that no   Designated Default or any other Event of Default shall then exist and no Event of Default would result from   such issuance and sale or such Restricted Payment, as the case may be, giving Pro Forma Effect to such   issuance and sale or such Restricted Payment;          (e)   the Company may issue and sell (i) its common Equity Interests; provided that no Change   of Control would result from such issuance and sale; and (ii) the Company may issue and sell its Equity   Interest in connection with grants of such securities and stock options with respect to such securities   pursuant to employment, benefit plans, service and severance arrangements with current and former  officers, directors, consultants, advisors and employees of the Company or any Subsidiary of the Company,  as determined in good faith by the board of directors or senior management of the Company or such  Subsidiary, as applicable; and                                                102 

 

           (f)   the Company or any of its Subsidiaries may make Restricted Payments pursuant to or in  connection with the Scripps Transactions.;    provided that, notwithstanding the foregoing, on or after the Amendment No. 2 Effective Date, the Facility   Guarantor shall not make any Restricted Payment in cash unless after giving Pro Forma Effect to any such   Restricted Payment and the transactions related thereto, the Consolidated Leverage Ratio for the applicable   Measurement Period is less than or equal to 4.50:1.00.          7.07  Change in Nature of Business.  Engage in any material line of business substantially  different from those lines of business conducted by the Company and its Subsidiaries on the date hereof,  any other cable and other standard and nonstandard television, programming, multimedia, entertainment or  education business, or any business substantially related or incidental thereto.          7.08  Transactions with Affiliates.  Enter into any transaction of any kind with the Facility  Guarantor or any Affiliate of the Facility Guarantor, whether or not in the ordinary course of business, other  than (A) on terms substantially as favorable to the Company or such Subsidiary as would be obtainable by  the Company or such Subsidiary at the time in a comparable arm’s length transaction with a Person other   than an Affiliate or (B) any such transaction or series of related or similar transactions involving an amount   (in the case of such a transaction or transactions providing for periodic payments or installments, including   the aggregate amount of such payments or installments, and in the case of Indebtedness, including the   largest aggregate amount that may be outstanding thereunder and the largest amount of interest and fees   that may become due thereunder in any twelve month period) not in excess of (1) if entered into during the   period ending on the date that is six months following the Closing Date, $50,000,000 and (2) if entered into   thereafter, $25,000,000; provided that the foregoing restriction shall not apply to:          (a)   transactions otherwise permitted hereunder with a Joint Venture pursuant to a Joint Venture   Agreement to which a Significant Shareholder and/or an Affiliate of a Significant Shareholder (other than   the Company or any of its Subsidiaries) is also a party; provided that such Joint Venture Agreement is on   terms substantially as favorable to the Company or such Subsidiary as would be obtainable by the Company   or such Subsidiary at the time in a comparable arm’s length transaction with a Person other than an Affiliate;          (b)   transactions otherwise permitted hereunder between or among the Company and any of its   Subsidiaries (other than any Subsidiary of the Company that is a Joint Venture described in clause (a)   above) or between and among any such Subsidiaries;          (c)   Guarantees made by the Company or any of its Subsidiaries otherwise permitted under   Section 7.03 in respect of any Affiliate of such Person;          (d)   Restricted Payments permitted by Section 7.06;          (e)   (i) expense reimbursement, indemnities, salaries and other compensation to current and  former officers, directors, consultants, advisors and employees of the Facility Guarantor, the Company or  any Subsidiary of the Company, or (ii) entering into (and payments under) employment, benefit plans,  service and severance arrangements with current and former officers, directors, consultants, advisors and  employees of the Facility Guarantor, the Company or any Subsidiary of the Company, including, without  limitation, grants of securities, stock options, and similar rights, as determined in good faith by the board  of directors, a committee thereof or senior management of the Facility Guarantor, the Company or such  Subsidiary, as applicable; and          (f)   transactions pursuant to or in connection with the Scripps Transactions.                                              103 

 

          7.09  Burdensome Agreements.  Enter into any Contractual Obligation (other than this  Agreement or any other Loan Document) that limits the ability:         (a)   of any Subsidiary of the Company to make Restricted Payments to the Company or any  other Subsidiary of the Company or to otherwise transfer property to the Company,         (b)   of any Subsidiary of the Company to Guarantee the Obligations of the Company under this  Agreement, or         (c)   of the Company or any Subsidiary of the Company to create, incur, assume or suffer to  exist Liens on property of such Person to secure the Obligations of the Company under this Agreement;    provided, however, that this Section shall not prohibit:                (i)   (i)   any negative pledge in favor of any holder of purchase money or other         Indebtedness permitted under Sections 7.03(e), solely to the extent any such negative pledge relates         to the property permitted to be encumbered by such Indebtedness;                (ii) (ii) any such restrictions or conditions in favor of any other secured Indebtedness         of the Company or any of its Subsidiaries permitted under Section 7.03(f);                (iii) (iii) any such restrictions or conditions in favor of any unsecured Indebtedness of         the Company or any of its Subsidiaries permitted under Section 7.03(g);                (iv)  (iv)  any such restrictions or conditions in favor of any Indebtedness of the         Company or any of its Subsidiaries permitted under Section 7.03(i), 7.03(j) or 7.03(k);                (v)   (v)         any negative pledge in favor of any holder of any Bonds or any         other Indebtedness listed on Schedule 7.03(b) (and, in each case, any refinancing, refundings,         renewals or extensions thereof to the extent permitted by Section 7.03(b)), so long as any such         negative pledge is no more restrictive on the ability of the Company or any such Subsidiary to         create, incur, assume or suffer to exist Liens on property of such Person to secure the Obligations         of the Company under this Agreement than is the negative pledge in the Bonds or such other         Indebtedness as of the date hereof;                (vi)  (vi) in the case of a Joint Venture that is a Subsidiary of the Company, customary         obligations in the Joint Venture Agreement for any such Joint Venture that limit the Joint Venture’s        ability to make Restricted Payments to, to Guarantee the Indebtedness of, and to create Liens on its        property for the benefit of Indebtedness of, any holder of the Equity Interests of such Joint Venture        (and neither the Company nor any Subsidiary of the Company a party to such Joint Venture        Agreement shall waive their rights to the benefit of such obligations as against any other party        thereto);                (vii) (vii) customary restrictions and conditions contained in agreements relating to the         sale of a Subsidiary pending such sale, provided such restrictions and conditions apply only to the         Subsidiary that is to be sold and such sale is permitted hereunder;                (viii) (viii) customary provisions in leases and other contracts restricting the assignment         thereof; or                                               104 

 

                 (ix)                    (ix) restrictions and conditions in any indenture,         agreement, document, instrument or other arrangement relating to the assets or business of any         Subsidiary existing prior to the consummation of an acquisition in which such Subsidiary was         acquired by the Company (and not created in contemplation of such acquisition).          7.10  Use of Proceeds.  Use the proceeds of any Credit Extension, whether directly or indirectly,  and whether immediately, incidentally or ultimately, to purchase or carry margin stock (within the meaning  of Regulation U of the FRB) or to extend credit to others for the purpose of purchasing or carrying margin  stock or to refund indebtedness originally incurred for such purpose, except in each case in compliance with  Regulation U, nor allow, after giving effect to the application of the proceeds of any Credit Extension, more  than twenty-five percent (25%) of the value of the assets (either of the Company only or of the Company  and its Subsidiaries on a consolidated basis) subject to the provisions of Section 7.01 or Section 7.05 or   subject to any restriction contained in any agreement or instrument between a Loan Party and any Lender   or any Affiliate of any Lender relating to Indebtedness and within the scope of Section 8.01(e) to be margin   stock (within the meaning of Regulation U issued by the FRB).          7.11  Financial Covenants.          (a)   Consolidated Interest Coverage Ratio.  As of the last day of each Measurement Period,   permit the Consolidated Interest Coverage Ratio to be less than 3.00:1.00.          (b)   Consolidated Leverage Ratio.  Permit the Consolidated Leverage Ratio as of the last day   of any Measurement Period to be greater than the ratio set forth below opposite such Measurement Period:                      Measurement Period Ending    Maximum Consolidated Leverage Ratio                  March 31, 2020 and June 30, 2020             5.00: 1.00                September 30, 2020 through March 31, 2021    5.50:1.00                June 30, 2021                                5.00:1.00                September 30, 2021 and thereafter            4.50:1.00   (b) Consolidated Leverage Ratio.  As of the last day of each Measurement Period, permit the Consolidated   Leverage Ratio to be greater than 4.50:1.00; provided that (i) commencing with the first full fiscal quarter   following the Scripps Acquisition Closing Date to the Measurement Period ending on the last day of the   first full fiscal quarter after the first anniversary of the Scripps Acquisition Closing Date, such maximum   Consolidated Leverage Ratio level shall be no greater than 5.50:1.00, (ii) after the Measurement Period   ending on the last day of the first full fiscal quarter after the first anniversary of the Scripps Acquisition   Closing Date to the Measurement Period ending on the last day of the first full quarter after the second   anniversary of the Scripps Acquisition Closing Date, such maximum Consolidated Leverage Ratio level   shall be no greater than 5.00:1.00, and (iii) thereafter, such maximum Consolidated Leverage Ratio level   shall be no greater than 4.50:1.00.          7.12  Sanctions Restrictions.  Directly or indirectly, use the proceeds of any Credit Extension,   or lend, contribute or otherwise make available such proceeds to any Subsidiary, joint venture partner or   other individual or entity, to fund any activities of or business with any individual or entity, or in any   Designated Jurisdiction, that, at the time of such funding, is targeted by Sanctions, unless otherwise   authorized by applicable Laws, or in any other manner that will result in a violation by any party to any   Loan Document (including any Lender, Arranger, Administrative Agent, L/C Issuer, Swing Line Lender,   or otherwise) of Sanctions.                                               105 

 

          7.13  Anti-Corruption Laws.  Use the proceeds of any Credit Extension for any purpose which   would result in a material violation of the United States Foreign Corrupt Practices Act of 1977, the UK   Bribery Act 2010, and other applicable anti-corruption legislation in other jurisdictions.                                    ARTICLE VIII.                        EVENTS OF DEFAULT AND REMEDIES         8.01  Events of Default.  Any of the following shall constitute an Event of Default:          (a)   Non-Payment.  Any Borrower fails to pay (i) when and as required to be paid herein, and   in the currency required hereunder, any amount of principal of any Loan or any L/C Obligation, or (ii)   within two Business Days after the same becomes due, any interest on any Loan or on any L/C Obligation,   any fee due hereunder, or any other amount payable hereunder or under any other Loan Document; or          (b)   Specific Covenants.  (i) The Company fails to perform or observe any term, covenant or   agreement contained in any of Section 6.01, 6.02(a), (b) or (d), 6.03, 6.05, 6.10, 6.11, 6.15 or Article VII;   or (ii) the Facility Guarantor fails to observe any term covenant or agreement contained in Section 7.04; or          (c)   Other Defaults.  Any Loan Party fails to perform or observe any other covenant or   agreement (not specified in subsection (a) or (b) above) contained in any Loan Document on its part to be   performed or observed and such failure continues for 30 days after notice of such default from the   Administrative Agent or any Lender or after any Responsible Officer of the Facility Guarantor or the   Company obtains actual knowledge thereof; or          (d)   Representations and Warranties.  Any representation, warranty, certification or statement   of fact made or deemed made by or on behalf of any Loan Party herein, in any other Loan Document, or in   any document delivered in connection herewith or therewith shall be incorrect in any material respect when   made or deemed made; or          (e)   Cross-Default.  (i) The Facility Guarantor, the Company or any of their Subsidiaries (A)   fails to make any payment when due (whether by scheduled maturity, required prepayment, acceleration,   demand, or otherwise) beyond any applicable grace period in respect of any Indebtedness or Guarantee   (other than Indebtedness hereunder and Indebtedness under Swap Contracts) having an aggregate principal  amount (including undrawn committed or available amounts and including amounts owing to all creditors  under any combined or syndicated credit arrangement) equal to or greater than the Threshold Amount, or  (B) fails to observe or perform (beyond any applicable grace period) any other agreement or condition  relating to any such Indebtedness or Guarantee or contained in any instrument or agreement evidencing,  securing or relating thereto, or any other event occurs, the effect of which default or other event is to cause,  or to permit the holder or holders of such Indebtedness or the beneficiary or beneficiaries of such Guarantee  (or a trustee or agent on behalf of such holder or holders or beneficiary or beneficiaries) to cause, with the  giving of notice if required, such Indebtedness to be demanded or to become due or to be repurchased,  prepaid, defeased or redeemed (automatically or otherwise), or an offer to repurchase, prepay, defease or  redeem such Indebtedness to be made, prior to its stated maturity, or such Guarantee to become payable or  cash collateral in respect thereof to be demanded; provided that this clause (B) shall not apply to any of the   following: (x) Indebtedness that becomes due as a result of the voluntary sale or transfer of property or   assets securing such Indebtedness, if such sale or transfer and the application of the proceeds thereof is   permitted hereunder and under the documents providing for such Indebtedness; (y) the mandatory   prepayment of any bridge financing made with the proceeds of permanent financing or the proceeds of asset   sales or equity issuances; or (z) any event, so long as such event does not otherwise cause a Default or   Event of Default under any Loan Documents, requiring the repurchase, repayment or redemption                                              106 

 

    (automatically or otherwise) or an offer to repurchase, prepay or redeem any Indebtedness, or the delivery  of any notice with respect thereto, solely as a result of the Company’s or any of its Subsidiaries’ failure to  consummate a merger or other acquisition contemplated to be funded in whole or in part with the proceeds  of such Indebtedness; or (ii) there occurs under any Swap Contract an Early Termination Date (as defined  in such Swap Contract) resulting from (A) any event of default under such Swap Contract as to which the  Facility Guarantor, the Company or any of their Subsidiaries is the Defaulting Party (as defined in such  Swap Contract) or (B) any Termination Event (as so defined) under such Swap Contract as to which the  Facility Guarantor, the Company or any of their Subsidiaries is an Affected Party (as so defined) and, in  either event, the Swap Termination Value owed by the Facility Guarantor, the Company or any of their  Subsidiaries as a result thereof is equal to or greater than the Threshold Amount, and in the case of any  Early Termination Date resulting from such a Termination Event, such Early Termination Date is not  rescinded or such Swap Termination Value is not paid within 5 Business Days following such Early  Termination Date; or          (f)   Insolvency Proceedings, Etc.  The Facility Guarantor, the Company or any of their   Significant Subsidiaries institutes or consents to the institution of any proceeding under any Debtor Relief   Law, or makes an assignment for the benefit of creditors; or applies for or consents to the appointment of   any receiver, trustee, custodian, conservator, liquidator, rehabilitator, judicial manager or similar officer for   it or for all or any material part of its property; or any receiver, trustee, custodian, conservator, liquidator,   rehabilitator, judicial manager or similar officer is appointed without the application or consent of such   Person and the appointment continues undischarged or unstayed for 60 calendar days; or any proceeding   under any Debtor Relief Law relating to any such Person or to all or any material part of its property is   instituted without the consent of such Person and continues undismissed or unstayed for 60 calendar days,   or an order for relief is entered in any such proceeding; or          (g)   Inability to Pay Debts; Attachment.  (i) The Facility Guarantor, the Company or any of   their Significant Subsidiaries becomes unable or admits in writing its inability or fails generally to pay its   debts as they become due, or (ii) any writ or warrant of attachment or execution or similar process is issued  or levied against all or any material part of the property of any such Person and is not released, vacated or  fully bonded within 30 days after its issue or levy; or          (h)   Judgments.  There is entered against the Facility Guarantor, the Company or any of their   Significant Subsidiaries one or more final judgments or orders for the payment of money in an aggregate   amount (as to all such judgments or orders) exceeding the Threshold Amount (to the extent not covered by   independent third-party insurance as to which the insurer does not dispute coverage) and (i) enforcement  proceedings to attach or levy upon any material assets of the Company or any of its Subsidiaries are  commenced by any creditor upon such judgment or order, or (ii) there is a period of 20 consecutive days  during which a stay of enforcement of such judgment, by reason of a pending appeal or otherwise, is not in  effect, or such judgment is not satisfied, vacated or discharged; or          (i)   ERISA.  (i) An ERISA Event occurs with respect to a Pension Plan or Multiemployer Plan   which has resulted or could reasonably be expected to result in liability of the Facility Guarantor under   Title IV of ERISA to the Pension Plan, Multiemployer Plan or the PBGC in an aggregate amount in excess   of the Threshold Amount, or (ii) the Facility Guarantor or any ERISA Affiliate fails to pay when due, after   the expiration of any applicable grace period, any installment payment with respect to its withdrawal   liability under Section 4201 of ERISA under a Multiemployer Plan in an aggregate amount in excess of the   Threshold Amount; or          (j)   Invalidity of Loan Documents.  Any provision of any Loan Document that is material (in   the determination of the Required Lenders), at any time after its execution and delivery and for any reason                                              107 

 

    other than as expressly permitted hereunder or thereunder or satisfaction in full of all the Obligations, ceases  to be in full force and effect; or any Loan Party or any other Person contests in any manner the validity or  enforceability of any provision of any Loan Document; or any Loan Party denies that it has any or further  liability or obligation under any Loan Document, or purports to revoke, terminate or rescind any provision  of any Loan Document; or          (k)   Change of Control.  There occurs any Change of Control; or          (l)   Declared Company.  The Facility Guarantor, the Company, any of their Significant   Subsidiaries, or any Designated Borrower that is a Foreign Subsidiary organized under the laws of   Singapore, is declared by the Minister of Finance of Singapore to be a company to which Part IX of the   Singapore Companies Act, Chapter 50 of Singapore applies.          8.02  Remedies Upon Event of Default.  If any Event of Default occurs and is continuing, the  Administrative Agent shall, at the request of, or may, with the consent of, the Required Lenders, take any  or all of the following actions:          (a)   declare the commitment of each Lender to make Loans and any obligation of the L/C  Issuers to make L/C Credit Extensions to be terminated, whereupon such commitments and obligation shall  be terminated;          (b)   declare the unpaid principal amount of all outstanding Loans, all interest accrued and  unpaid thereon, and all other amounts owing or payable hereunder or under any other Loan Document to  be immediately due and payable, without presentment, demand, protest or other notice of any kind, all of  which are hereby expressly waived by the Borrowers to the maximum extent permitted by applicable law;         (c)    require that the Company Cash Collateralize the L/C Obligations (in an amount equal to  the Minimum Collateral Amount with respect thereto); and         (d)    exercise on behalf of itself, the Lenders and the L/C Issuers all rights and remedies  available to it, the Lenders and the L/C Issuers under the Loan Documents;    provided, however, that upon the occurrence of an actual or deemed entry of an order for relief with respect   to any Borrower under the Bankruptcy Code of the United States, the obligation of each Lender to make   Loans and any obligation of the L/C Issuers to make L/C Credit Extensions shall automatically terminate,   the unpaid principal amount of all outstanding Loans and all interest and other amounts as aforesaid shall   automatically become due and payable, and the obligation of the Company to Cash Collateralize the L/C   Obligations as aforesaid shall automatically become effective, in each case without further act of the   Administrative Agent or any Lender; and provided further, however, that the Required Tranche 1 Lenders   and the Required Tranche 2 Lenders shall not have any power or authority under this Section 8.02 separate   or apart from that of the Administrative Agent and the Required Lenders with respect to all Loans and other   Obligations.          8.03  Application of Funds.  After the exercise of remedies provided for in Section 8.02 (or   after the Loans have automatically become immediately due and payable and the L/C Obligations have   automatically been required to be Cash Collateralized as set forth in the proviso to Section 8.02), any   amounts received on account of the Obligations shall, subject to the provisions of Sections 2.16 and 2.17,   be applied by the Administrative Agent in the following order:                                                108 

 

           First, to payment of that portion of the Obligations constituting fees, indemnities, expenses and   other amounts (including fees, charges and disbursements of counsel to the Administrative Agent and   amounts payable under Article III) payable to the Administrative Agent in its capacity as such;          Second, to payment of that portion of the Obligations constituting fees, indemnities and other   amounts (other than principal, interest and Letter of Credit Fees) payable to the Lenders and the L/C Issuers   (including fees, charges and disbursements of counsel to the respective Lenders and the L/C Issuers   (including fees and time charges for attorneys who may be employees of any Lender or the L/C Issuers)   and amounts payable under Article III), ratably among them in proportion to the respective amounts   described in this clause Second payable to them;          Third, to payment of that portion of the Obligations constituting accrued and unpaid Letter of Credit   Fees and interest on the Loans, L/C Borrowings and other Obligations, ratably among the Lenders and the   L/C Issuers in proportion to the respective amounts described in this clause Third payable to them;          Fourth, to payment of that portion of the Obligations constituting unpaid principal of the Loans and   L/C Borrowings, ratably among the Lenders and the L/C Issuers in proportion to the respective amounts   described in this clause Fourth held by them;          Fifth, to the Administrative Agent for the account of each L/C Issuer, to Cash Collateralize that   portion of L/C Obligations comprised of the aggregate undrawn amount of Letters of Credit to the extent   not otherwise Cash Collateralized by the Company pursuant to Sections 2.03 and 2.16; and          Last, the balance, if any, after all of the Obligations have been indefeasibly paid in full, to the   Company or as otherwise required by Law.    Subject to Sections 2.03(c) and 2.16, amounts used to Cash Collateralize the aggregate undrawn amount of   Letters of Credit pursuant to clause Fifth above shall be applied to satisfy drawings under such Letters of   Credit as they occur.  If any amount remains on deposit as Cash Collateral after all Letters of Credit have   either been fully drawn or expired, such remaining amount shall be applied to the other Obligations, if any,   in the order set forth above.                                     ARTICLE IX.                              ADMINISTRATIVE AGENT         9.01  Appointment and Authority.  Each of the Lenders and each L/C Issuer hereby irrevocably  appoints Bank of America to act on its behalf as the Administrative Agent hereunder and under the other  Loan Documents and authorizes the Administrative Agent to take such actions on its behalf and to exercise  such powers as are delegated to the Administrative Agent by the terms hereof or thereof, together with such  actions and powers as are reasonably incidental thereto.  The provisions of this Article are solely for the  benefit of the Administrative Agent, the Lenders and the L/C Issuers, and no Loan Party shall have rights   as a third party beneficiary of any of such provisions.  It is understood and agreed that the use of the term   “agent” herein or in any other Loan Documents (or any other similar term) with reference to the   Administrative Agent is not intended to connote any fiduciary or other implied (or express) obligations   arising under agency doctrine of any applicable Law. Instead such term is used as a matter of market custom,   and is intended to create or reflect only an administrative relationship between contracting parties.          9.02  Rights as a Lender.  The Person serving as the Administrative Agent hereunder shall have   the same rights and powers in its capacity as a Lender as any other Lender and may exercise the same as   though it were not the Administrative Agent and the term “Lender,” “Lenders,” “Tranche 1 Lender,”                                              109 

 

    “Tranche 1 Lenders,” “Tranche 2 Lender,” or “Tranche 2 Lenders” shall, unless otherwise expressly  indicated or unless the context otherwise requires, include the Person serving as the Administrative Agent  hereunder in its individual capacity.  Such Person and its Affiliates may accept deposits from, lend money  to, own securities of, act as the financial advisor or in any other advisory capacity for and generally engage  in any kind of business with the Facility Guarantor or any Subsidiary or other Affiliate thereof as if such  Person were not the Administrative Agent hereunder and without any duty to account therefor to the  Lenders.         9.03  Exculpatory Provisions.  The Administrative Agent shall not have any duties or  obligations except those expressly set forth herein and in the other Loan Documents, and its duties  hereunder shall be administrative in nature.  Without limiting the generality of the foregoing, the  Administrative Agent:         (a)   shall not be subject to any fiduciary or other implied duties, regardless of whether a Default  has occurred and is continuing;          (b)   shall not have any duty to take any discretionary action or exercise any discretionary  powers, except discretionary rights and powers expressly contemplated hereby or by the other Loan  Documents that the Administrative Agent is required to exercise as directed in writing by the Required  Lenders (or such other number or percentage of the Lenders as shall be expressly provided for herein or in  the other Loan Documents), provided that the Administrative Agent shall not be required to take any action   that, in its opinion or the opinion of its counsel, may expose the Administrative Agent to liability or that is   contrary to any Loan Document or applicable law, including for the avoidance of doubt any action that may   be in violation of the automatic stay under any Debtor Relief Law or that may effect a forfeiture,   modification or termination of property of a Defaulting Lender in violation of any Debtor Relief Law; and          (c)   shall not, except as expressly set forth herein and in the other Loan Documents, have any  duty to disclose, and shall not be liable for the failure to disclose, any information relating to any Loan  Party or any of its Affiliates that is communicated to or obtained by the Person serving as the Administrative  Agent or any of its Affiliates in any capacity.          The Administrative Agent shall not be liable for any action taken or not taken by it (i) with the  consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as  shall be necessary, or as the Administrative Agent shall believe in good faith shall be necessary, under the  circumstances as provided in Sections 11.01 and 8.02) or (ii) in the absence of its own gross negligence or   willful misconduct as determined by a court of competent jurisdiction by final and nonappealable judgment.    The Administrative Agent shall be deemed not to have knowledge of any Default unless and until notice   describing such Default is given in writing to the Administrative Agent by a Loan Party, a Lender or an   L/C Issuer.          The Administrative Agent shall not be responsible for or have any duty to ascertain or inquire into  (i) any statement, warranty or representation made in or in connection with this Agreement or any other  Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder or  thereunder or in connection herewith or therewith, (iii) the performance or observance of any of the  covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any  Default, (iv) the validity, enforceability, effectiveness or genuineness of this Agreement, any other Loan  Document or any other agreement, instrument or document or (v) the satisfaction of any condition set forth  in Article IV or elsewhere herein, other than to confirm receipt of items expressly required to be delivered   to the Administrative Agent.                                               110 

 

          9.04  Reliance by Administrative Agent.  The Administrative Agent shall be entitled to rely  upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent, statement,  instrument, document or other writing (including any electronic message, Internet or intranet website  posting or other distribution) believed by it to be genuine and to have been signed, sent or otherwise  authenticated by the proper Person.  The Administrative Agent also may rely upon any statement made to  it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any  liability for relying thereon.  In determining compliance with any condition hereunder to the making of a  Loan, or the issuance, extension, renewal or increase of a Letter of Credit, that by its terms must be fulfilled  to the satisfaction of a Lender or an L/C Issuer, the Administrative Agent may presume that such condition  is satisfactory to such Lender or such L/C Issuer unless the Administrative Agent shall have received notice  to the contrary from such Lender or such L/C Issuer prior to the making of such Loan or the issuance of  such Letter of Credit.  The Administrative Agent may consult with legal counsel (who may be counsel for  the Company), independent accountants and other experts selected by it, and shall not be liable for any  action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts.         9.05  Delegation of Duties.  The Administrative Agent may perform any and all of its duties and  exercise its rights and powers hereunder or under any other Loan Document by or through any one or more  sub agents appointed by the Administrative Agent.  The Administrative Agent and any such sub agent may  perform any and all of its duties and exercise its rights and powers by or through their respective Related  Parties.  The exculpatory provisions of this Article shall apply to any such sub agent and to the Related  Parties of the Administrative Agent and any such sub agent, and shall apply to their respective activities in  connection with the syndication of the credit facilities provided for herein as well as activities as  Administrative Agent.  The Administrative Agent shall not be responsible for the negligence or misconduct  of any sub-agents except to the extent that a court of competent jurisdiction determines in a final and non- appealable judgment that the Administrative Agent acted with gross negligence or willful misconduct in  the selection of such sub-agents.          9.06  Resignation of Administrative Agent. (a) The Administrative Agent may at any time give   notice of its resignation to the Lenders, the L/C Issuers and the Company.  Upon receipt of any such notice   of resignation, the Required Lenders shall have the right, in consultation with the Company, to appoint a   successor, which (i) (i) shall be a bank with an office in the United States, or an Affiliate of any such bank   with an office in the United States, (ii) (ii) shall be a Lender or an Affiliate of a Lender and (iii) (iii) shall   have accepted such appointment.  If no such successor shall have been so appointed by the Required   Lenders and shall have accepted such appointment within 30 days after the retiring Administrative Agent   gives notice of its resignation (or such earlier day as shall be agreed by the Required Lenders) (the  “Resignation Effective Date”), then the retiring Administrative Agent may (but shall not be obligated to)   on behalf of the Lenders and the L/C Issuers, appoint a successor Administrative Agent meeting the   qualifications set forth above; provided that in no event shall any such successor Administrative Agent be   a Defaulting Lender.  Whether or not a successor has been appointed, such resignation shall become   effective in accordance with such notice on the Resignation Effective Date.          (b)   If the Person serving as Administrative Agent is a Defaulting Lender pursuant to clause (d)   of the definition thereof, the Required Lenders may, to the extent permitted by applicable law, by notice in   writing to the Company and such Person remove such Person as Administrative Agent and, in consultation   with the Company, appoint a successor.  If no such successor shall have been so appointed by the Required   Lenders and shall have accepted such appointment, within 30 days (or such earlier day as shall be agreed   by the Required Lenders) (the “Removal Effective Date”), then such removal shall nonetheless become   effective in accordance with such notice on the Removal Effective Date.                                                111 

 

           (c)   With effect from the Resignation Effective Date or the Removal Effective Date (as  applicable) (1) the retiring or removed Administrative Agent shall be discharged from its duties and  obligations hereunder and under the other Loan Documents (except that in the case of any collateral security  held by the Administrative Agent on behalf of the Lenders or the L/C Issuers under any of the Loan  Documents, the retiring or removed Administrative Agent shall continue to hold such collateral security  until such time as a successor Administrative Agent is appointed) and (2) except for any indemnity  payments or other amounts then owed to the retiring or removed Administrative Agent, all payments,  communications and determinations provided to be made by, to or through the Administrative Agent shall  instead be made by or to each Lender and each L/C Issuer directly, until such time, if any, as the Required  Lenders appoint a successor Administrative Agent as provided for above.  Upon the acceptance of a  successor’s appointment as Administrative Agent hereunder, such successor shall succeed to and become  vested with all of the rights, powers, privileges and duties of the retiring (or removed) Administrative Agent  (other than as provided in Section 3.01(h) and other than any rights to indemnity payments or other amounts   owed to the retiring or removed Administrative Agent as of the Resignation Effective Date or the Removal   Effective Date, as applicable) and the retiring or removed Administrative Agent shall be discharged from   all of its duties and obligations hereunder or under the other Loan Documents (if not already discharged  therefrom as provided above in this Section).  The fees payable by the Company to a successor  Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed between   the Company and such successor.  After the retiring or removed Administrative Agent’s resignation or   removal hereunder and under the other Loan Documents, the provisions of this Article and Section 11.04   shall continue in effect for the benefit of such retiring or removed Administrative Agent, its sub agents and   their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while   the retiring or removed Administrative Agent was acting as Administrative Agent.          Any resignation by Bank of America as Administrative Agent pursuant to this Section shall also  constitute its resignation as an L/C Issuer and Swing Line Lender.  If Bank of America resigns as an L/C  Issuer, it shall retain all the rights, powers, privileges and duties of a L/C Issuer hereunder with respect to  all Letters of Credit outstanding as of the effective date of its resignation as an L/C Issuer and all L/C  Obligations with respect thereto, including the right to require the Lenders to make Base Rate Loans (with  respect to Swing Line Loans denominated in Dollars), Eurocurrency Rate Loans (with respect to Swing  Line Loans denominated in Euros) or fund risk participations in Unreimbursed Amounts pursuant to Section   2.03(c).  If Bank of America resigns as Swing Line Lender, it shall retain all the rights of the Swing Line   Lender provided for hereunder with respect to Swing Line Loans made by it and outstanding as of the   effective date of such resignation, including the right to require the Lenders to make Base Rate Loans (with   respect to Swing Line Loans denominated in Dollars), Eurocurrency Rate Loans (with respect to Swing   Line Loans denominated in Euros) or fund risk participations in outstanding Swing Line Loans pursuant to   Section 2.04(c).  Upon the appointment by the Company of a successor L/C Issuer or Swing Line Lender   hereunder (which successor shall in all cases be a Lender other than a Defaulting Lender), (a) such successor   shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring L/C   Issuer or Swing Line Lender, as applicable, (b) the retiring L/C Issuer and Swing Line Lender shall be   discharged from all of their respective duties and obligations hereunder or under the other Loan Documents,   and (c) the successor L/C Issuer shall issue letters of credit in substitution for the Letters of Credit, if any,   outstanding at the time of such succession or make other arrangements satisfactory to Bank of America to   effectively assume the obligations of Bank of America with respect to such Letters of Credit.          9.07  Non-Reliance on Administrative Agent and Other Lenders.  Each Lender and each L/C   Issuer acknowledges that it has, independently and without reliance upon the Administrative Agent or any   other Lender or any of their Related Parties and based on such documents and information as it has deemed   appropriate, made its own credit analysis and decision to enter into this Agreement.  Each Lender and each   L/C Issuer also acknowledges that it will, independently and without reliance upon the Administrative                                              112 

 

    Agent or any other Lender or any of their Related Parties and based on such documents and information as  it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking  action under or based upon this Agreement, any other Loan Document or any related agreement or any  document furnished hereunder or thereunder.         9.08  No Other Duties, Etc.  Anything herein to the contrary notwithstanding, none of the  Arrangers, Co-Syndication Agents or Co-Documentation Agents listed on the cover page hereof shall have  any powers, duties or responsibilities under this Agreement or any of the other Loan Documents, except in  its capacity, as applicable, as the Administrative Agent, a Lender or an L/C Issuer hereunder.         9.09  Administrative Agent May File Proofs of Claim.  In case of the pendency of any  proceeding under any Debtor Relief Law or any other judicial proceeding relative to any Loan Party, the  Administrative Agent (irrespective of whether the principal of any Loan or L/C Obligation shall then be  due and payable as herein expressed or by declaration or otherwise and irrespective of whether the  Administrative Agent shall have made any demand on any Borrower) shall be entitled and empowered, by  intervention in such proceeding or otherwise          (a)   to file and prove a claim for the whole amount of the principal and interest owing and  unpaid in respect of the Loans, L/C Obligations and all other Obligations that are owing and unpaid and to  file such other documents as may be necessary or advisable in order to have the claims of the Lenders, the  L/C Issuers and the Administrative Agent (including any claim for the reasonable compensation, expenses,  disbursements and advances of the Lenders, the L/C Issuers and the Administrative Agent and their  respective agents and counsel and all other amounts due the Lenders, the L/C Issuers and the Administrative  Agent under Sections 2.03(h) and (i), 2.09 and 11.04) allowed in such judicial proceeding; and          (b)   to collect and receive any monies or other property payable or deliverable on any such  claims and to distribute the same;    and any custodian, receiver, assignee, trustee, liquidator, judicial manager, sequestrator or other similar   official in any such judicial proceeding is hereby authorized by each Lender and each L/C Issuer to make   such payments to the Administrative Agent and, in the event that the Administrative Agent shall consent to   the making of such payments directly to the Lenders and the L/C Issuers, to pay to the Administrative Agent   any amount due for the reasonable compensation, expenses, disbursements and advances of the   Administrative Agent and its agents and counsel, and any other amounts due the Administrative Agent   under Sections 2.09 and 11.04.          Nothing contained herein shall be deemed to authorize the Administrative Agent to authorize or  consent to or accept or adopt on behalf of any Lender or any L/C Issuer any plan of reorganization,  arrangement, adjustment or composition affecting the Obligations or the rights of any Lender or any L/C  Issuer to authorize the Administrative Agent to vote in respect of the claim of any Lender or any L/C Issuer  in any such proceeding.          9.10  Collateral Matters.  The Lenders and the L/C Issuers irrevocably authorize the  Administrative Agent to accept Liens granted to the Administrative Agent for the benefit of the Lender  Parties pursuant to Section 7.01(m) or otherwise, and, at its option and in its discretion,          (a)   to release any Lien on any property granted to or held by the Administrative Agent under  any Loan Document (i) upon termination of the Aggregate Commitments and payment in full of all  Obligations (other than unasserted indemnification, tax gross up, expense reimbursement or yield protection  obligations, in each case, for which no claim has been made) and the expiration or termination of all Letters                                              113 

 

     of Credit (other than Letters of Credit as to which other arrangements satisfactory to the Administrative   Agent and the L/C Issuers shall have been made), (ii) that is sold or to be sold as part of or in connection  with any sale permitted hereunder or under any other Loan Document, or (iii) subject to Section 11.01, if   approved, authorized or ratified in writing by the Required Lenders;          (b)   to subordinate any Lien as may hereafter be granted on any property granted to or held by  the Administrative Agent under any Loan Document to the holder of any Lien on such property that is  permitted by Section 7.01(k); and          (c)   to release any Subsidiary Guarantor (but not the Facility Guarantor) from its obligations   under the Guaranty if:                (i)   the circumstances causing the Company to cause such Subsidiary to become a         Subsidiary Guarantor pursuant to Section 6.16 no longer exist (or, substantially concurrently with         the release of such Subsidiary Guarantor or if as a result of the release of such Subsidiary Guarantor,         will no longer exist) (it being understood that a release subject to contingent reinstatement is still a         release, and that if any such Guarantee is so reinstated, such Subsidiary Guarantee shall also be         reinstated to the extent that such Subsidiary Guarantor would then be required to provide a         Subsidiary Guarantee pursuant to Section 6.16);                (ii) if such Subsidiary Guarantor ceases (or, substantially concurrently with the release         of such Subsidiary Guarantor, will cease) to be a Subsidiary of the Company in accordance with         the terms hereof;                (iii) upon the merger or consolidation of such Subsidiary Guarantor with and into the         Company or another Guarantor that is the surviving Person in such merger or consolidation, or         upon the liquidation of such Subsidiary Guarantor following the transfer of all of its assets to the         Company or another Guarantor;                (iv)  other than with respect to Scripps, upon the merger or consolidation of such         Subsidiary Guarantor with and into another Subsidiary of the Facility Guarantor that is not the         Company or a Guarantor with such other Subsidiary being the surviving Person in such merger or         consolidation, or upon liquidation of such Subsidiary Guarantor following the transfer of all of its         assets to a Subsidiary that is not a Subsidiary Guarantor;                (v)   upon payment in full of the aggregate principal amount of all Loans and guaranteed         Obligations then due and owing; or                (vi)  without limiting the provisions above, in the case of Scripps, if both (x) Scripps         and the Scripps Acquired Business are Subsidiaries of the Company (without giving effect to clause         (y) of the final sentence of the definition thereof) and (y) the Existing Scripps Notes (and any         refinancings, refundings, renewals or extensions thereof) are obligations solely of the Company         (and, at the option of the Company, the Facility Guarantor), substantially concurrently with the         release of such Subsidiary Guarantor or if as a result of the release of such Subsidiary Guarantor,         both such conditions will be satisfied.          Upon any such occurrence specified in this Section 9.10(c), the Administrative Agent shall execute   any documents reasonably requested by the Company in order to evidence such release, discharge and   termination in respect of the applicable Guarantee. Upon request by the Administrative Agent at any time,                                               114 

 

   the Required Lenders will confirm in writing the Administrative Agent’s authority to release or subordinate  its interest in particular types or items of property pursuant to this Section 9.10.         9.11  Certain ERISA Matters.         (a)   Each Lender (x) represents and warrants, as of the date such Person became a Lender party  hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such  Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent and the Arrangers  and their respective Affiliates, and not, for the avoidance of doubt, to or for the benefit of the Borrowers or  any other Loan Party, that at least one of the following is and will be true:               (i)   such Lender is not using “plan assets” (within the meaning of Section 3(42) of        ERISA or otherwise) of one or more Benefit Plans with respect to such Lender’s entrance into,        participation in, administration of and performance of the Loans, the Letters of Credit, the        Commitments or this Agreement,               (ii) the transaction exemption set forth in one or more PTEs, such as PTE 84-14 (a        class exemption for certain transactions determined by independent qualified professional asset        managers), PTE 95-60 (a class exemption for certain transactions involving insurance company        general accounts), PTE 90-1 (a class exemption for certain transactions involving insurance        company pooled separate accounts), PTE 91-38 (a class exemption for certain transactions        involving bank collective investment funds) or PTE 96-23 (a class exemption for certain        transactions determined by in-house asset managers), is applicable with respect to such Lender’s        entrance into, participation in, administration of and performance of the Loans, the Letters of        Credit, the Commitments and this Agreement,               (iii) (A) such Lender is an investment fund managed by a “Qualified Professional Asset        Manager” (within the meaning of Part VI of PTE 84-14), (B) such Qualified Professional Asset        Manager made the investment decision on behalf of such Lender to enter into, participate in,        administer and perform the Loans, the Letters of Credit, the Commitments and this Agreement, (C)        the entrance into, participation in, administration of and performance of the Loans, the Letters of        Credit, the Commitments and this Agreement satisfies the requirements of sub-sections (b) through        (g) of Part I of PTE 84-14 and (D) to the best knowledge of such Lender, the requirements of        subsection (a) of Part I of PTE 84-14 are satisfied with respect to such Lender’s entrance into,        participation in, administration of and performance of the Loans, the Letters of Credit, the        Commitments and this Agreement, or               (iv)  such other representation, warranty and covenant as may be agreed in writing        between the Administrative Agent, in its sole discretion, and such Lender.         (b)   In addition, unless either (1) sub-clause (i) in the immediately preceding clause (a) is true  with respect to a Lender or (2) a Lender has provided another representation, warranty and covenant in  accordance with sub-clause (iv) in the immediately preceding clause (a), such Lender further (x) represents  and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date  such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for  the benefit of, the Administrative Agent and the Arrangers and their respective Affiliates, and not, for the  avoidance of doubt, to or for the benefit of the Borrowers or any other Loan Party, that none of the  Administrative Agent or the Arrangers or any of their respective Affiliates is a fiduciary with respect to the  assets of such Lender involved in such Lender’s entrance into, participation in, administration of and  performance of the Loans, the Letters of Credit, the Commitments and this Agreement (including in                                           115 

 

   connection with the reservation or exercise of any rights by the Administrative Agent under this Agreement,  any Loan Document or any documents related hereto or thereto).                                    ARTICLE X.                             CONTINUING GUARANTY         10.01 Guaranty.  The Facility Guarantor and each other Subsidiary of the Facility Guarantor or  the Company (without giving effect to clause (y) of the final sentence of the definition thereof) that becomes  a guarantor hereunder as a result of Section 6.15 or Section 6.16 (such entity, a “Subsidiary Guarantor”  and, together with the Facility Guarantor and the Designated Borrowers’ Guarantor, the “Guarantors”)  hereby absolutely and unconditionally guarantees, as a guaranty of payment and performance and not  merely as a guaranty of collection, prompt payment when due, whether at stated maturity, by required  prepayment, upon acceleration, demand or otherwise, and at all times thereafter, of any and all of the  Obligations, whether for principal, interest, premiums, fees, indemnities, damages, costs, expenses or  otherwise, of the Borrowers to the Lender Parties, arising hereunder or under any other Loan  Document (including all renewals, extensions, amendments, refinancings and other modifications thereof  and all costs, attorneys’ fees and expenses incurred by the Lender Parties in connection with the collection  or enforcement thereof). The Company (in such role, the “Designated Borrowers’ Guarantor”) hereby  absolutely and unconditionally guarantees, as a guaranty of payment and performance and not merely as a  guaranty of collection, prompt payment when due, whether at stated maturity, by required prepayment,  upon acceleration, demand or otherwise, and at all times thereafter, of any and all of the Obligations,  whether for principal, interest, premiums, fees, indemnities, damages, costs, expenses or otherwise, of the  Designated Borrowers to the Lender Parties, arising hereunder or under any other Loan  Document (including all renewals, extensions, amendments, refinancings and other modifications thereof  and all costs, attorneys’ fees and expenses incurred by the Lender Parties in connection with the collection  or enforcement thereof, the “Designated Borrowers’ Obligations”, which are part of and not in addition to  the “Obligations” and each reference to “Obligations” in this Article X shall refer to all Obligations in  respect of the Facility Guarantor and the Designated Borrowers’ Obligations in respect of the Designated  Borrowers’ Guarantor). Without limiting the generality of the foregoing, the Obligations shall to the  maximum extent permitted by applicable law include any such indebtedness, obligations and liabilities, or  portion thereof, which may be or hereafter become unenforceable or compromised or shall be an allowed  or disallowed claim under any proceeding or case commenced by or against any Loan Party under any  Debtor Relief Laws. The Administrative Agent’s books and records showing the amount of the Obligations  shall be admissible in evidence in any action or proceeding, and shall be binding upon the applicable  Guarantor, and conclusive for the purpose of establishing the amount of the Obligations absent manifest  error. This Guaranty shall not be affected by the genuineness, validity, regularity or enforceability of the  Obligations or any instrument or agreement evidencing any Obligations, or by the existence, validity,  enforceability, perfection, non-perfection or extent of any collateral therefor, or by any fact or circumstance  relating to the Obligations which might otherwise constitute a defense to the obligations of either Guarantor  under this Guaranty (other than full payment and performance), and each Guarantor hereby irrevocably  waives to the maximum extent permitted by applicable law any defenses it may now have or hereafter  acquire in any way relating to any or all of the foregoing.         10.02 Rights of Lenders.  Each Guarantor consents and agrees to the maximum extent permitted  by applicable law that the Lender Parties may, at any time and from time to time, without notice or demand,  and without affecting the enforceability or continuing effectiveness hereof:  (a) amend, extend, renew,  compromise, discharge, accelerate or otherwise change the time for payment or the terms of the Obligations  or any part thereof; (b) take, hold, exchange, enforce, waive, release, fail to perfect, sell, or otherwise  dispose of any security for the payment of this Guaranty or any Obligations; (c) apply such security and  direct the order or manner of sale thereof as the Administrative Agent, the L/C Issuers and the Lenders in                                           116 

 

    their sole discretion may determine; and (d) release or substitute one or more of any endorsers or other  guarantors of any of the Obligations.  Without limiting the generality of the foregoing, each Guarantor  consents to the taking of, or failure to take, any action which might in any manner or to any extent vary the  risks of such Guarantor under this Guaranty or which, but for this provision, might operate as a discharge  of such Guarantor.         10.03 Certain Waivers.  Each Guarantor waives to the maximum extent permitted by the  applicable law (a) any defense arising by reason of any disability or other defense of any Borrower or any  other guarantors, or the cessation from any cause whatsoever (including any act or omission of any Lender  Party) of the liability of any Borrower; (b) any defense based on any claim that such Guarantor’s obligations  exceed or are more burdensome than those of any Borrower; (c) the benefit of any statute of limitations  affecting such Guarantor’s liability hereunder; (d) any right to proceed against any Borrower, proceed  against or exhaust any security for the Obligations, or pursue any other remedy in the power of any Lender  Party whatsoever; (e) any benefit of and any right to participate in any security now or hereafter held by  any Lender Party; (f) any defense arising from any law or regulation of any jurisdiction or any other event  affecting any term of an obligation of such Guarantor; and (g) to the fullest extent permitted by law, any  and all other defenses or benefits that may be derived from or afforded by applicable law limiting the  liability of or exonerating guarantors or sureties (other than full payment and performance).  Each Guarantor  expressly waives to the maximum extent permitted by applicable law all setoffs and counterclaims and all  presentments, demands for payment or performance, notices of nonpayment or nonperformance, protests,  notices of protest, notices of dishonor and all other notices or demands of any kind or nature whatsoever  with respect to the Obligations, and all notices of acceptance of this Guaranty or of the existence, creation  or incurrence of new or additional Obligations.  As provided below, this Guaranty shall be governed by,  and construed in accordance with, the laws of the State of New York.         10.04 Obligations Independent; Limitation on Guarantees.         (a)   The obligations of each Guarantor hereunder are those of primary obligor, and not merely  as surety, and are independent of the Obligations and the obligations of any other guarantor, and a separate  action may be brought against either Guarantor or both of the Guarantors to enforce this Guaranty whether  or not the Company, any Designated Borrower, or any other person or entity is joined as a party.          (b)   Notwithstanding any other provisions of this Agreement, the obligations of each Guarantor   under its Guarantee shall be limited under the relevant laws applicable to such Guarantor and the granting   of such Guarantees (including laws relating to corporate benefit, capital preservation, financial assistance,   fraudulent conveyances and transfers, voidable preferences, or transactions under value) to the maximum   amount payable such that such Guarantees shall not constitute a fraudulent conveyance, fraudulent transfer,   voidable preference, a transaction under value or unlawful financial assistance or otherwise, or under   similar laws affecting the rights of creditors generally, cause the Guarantor to be insolvent under relevant   law or such Guarantee to be void, unenforceable or ultra vires or cause the directors and officers of such   Guarantor to be held in breach of applicable corporate or commercial law providing for such Guarantee.   The obligations of each Guarantor will be limited to the maximum amount as will, after giving effect to all   other contingent and fixed liabilities of such Guarantor (including but not limited to any Guarantee by it of   other indebtedness), and after giving effect to any collections from or payments made by or on behalf of   any other Guarantor in respect of the obligations of such other Guarantor under its Guarantee or pursuant   to its contribution obligations under this Agreement, result in the obligations of such Guarantor under the   Guarantee not constituting a fraudulent conveyance or fraudulent transfer under applicable law, or being   void or unenforceable under any law relating to insolvency of debtors.                                                117 

 

          10.05 Subrogation.  Each Guarantor shall not exercise any right of subrogation, contribution,   indemnity, reimbursement or similar rights with respect to any payments it makes under this Guaranty until   all of the Obligations and any other amounts payable under this Guaranty have been indefeasibly paid and   performed in full (other than unasserted indemnification, tax gross up, expense reimbursement or yield   protection obligations, in each case, for which no claim has been made) and the Commitments and the   Facilities are terminated.  If any amounts are paid to either Guarantor in violation of the foregoing   limitation, then such amounts shall be held in trust for the benefit of the Lender Parties and shall forthwith   be paid to the Lender Parties to reduce the amount of the Obligations, whether matured or unmatured.          10.06 Termination; Reinstatement.  This Guaranty is a continuing and irrevocable guaranty of   all Obligations now or hereafter existing and shall remain in full force and effect until all Obligations and   any other amounts payable under this Guaranty are indefeasibly paid in full in cash (other than unasserted   indemnification, tax gross up, expense reimbursement or yield protection obligations, in each case, for   which no claim has been made) and the Commitments and Facilities are terminated.  Notwithstanding the   foregoing, this Guaranty shall continue in full force and effect or be revived, as the case may be, if any   payment by or on behalf of any Borrower or either Guarantor is made, or any of the Lender Parties exercises   its right of setoff, in respect of the Obligations and such payment or the proceeds of such setoff or any part   thereof is subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including   pursuant to any settlement entered into by any of the Lender Parties in their discretion) to be repaid to a  trustee, receiver or any other party, in connection with any proceeding under any Debtor Relief Laws or  otherwise, all as if such payment had not been made or such setoff had not occurred and whether or not the  Lender Parties are in possession of or have released this Guaranty and regardless of any prior revocation,  rescission, termination or reduction.  The obligations of each Guarantor under this paragraph shall survive  termination of this Guaranty.         10.07 Subordination.  Each Guarantor hereby subordinates the payment of all obligations and  indebtedness of any Borrower owing to such Guarantor, whether now existing or hereafter arising,  including but not limited to any obligation of any Borrower to such Guarantor as subrogee of the Lender  Parties or resulting from such Guarantor’s performance under this Guaranty, to the indefeasible payment in  full in cash of all Obligations.  If the Lender Parties so request after the occurrence and during the  continuance of an Event of Default, any such obligation or indebtedness of any Borrower to the applicable  Guarantor shall be enforced and performance received by such Guarantor as trustee for the Lender Parties  and the proceeds thereof shall be paid over to the Lender Parties on account of the Obligations, but without  reducing or affecting in any manner the liability of such Guarantor under this Guaranty.         10.08 Stay of Acceleration.  If acceleration of the time for payment of any of the Obligations is  stayed, in connection with any case commenced by or against either Guarantor or the Company under any  Debtor Relief Laws, or otherwise, all such amounts shall nonetheless be payable by such Guarantor  immediately upon demand by the Lender Parties.         10.09 Condition of Borrowers.  Each Guarantor acknowledges and agrees that it has the sole  responsibility for, and has adequate means of, obtaining from each applicable Borrower and any other  guarantor such information concerning the financial condition, business and operations of such Borrower  and any such other guarantor as such Guarantor requires, and that none of the Lender Parties has any duty,  and such Guarantor is not relying on the Lender Parties at any time, to disclose to such Guarantor any  information relating to the business, operations or financial condition of any Borrower or any other  guarantor (such Guarantor waiving any duty on the part of the Lender Parties to disclose such information  and any defense relating to the failure to provide the same).                                                118 

 

                                      ARTICLE XI.                                 MISCELLANEOUS          11.01 Amendments, Etc.  No amendment or waiver of any provision of this Agreement or any  other Loan Document, and no consent to any departure by any Loan Party therefrom, shall be effective  unless in writing signed by the Required Lenders and the applicable Loan Party and acknowledged by the  Administrative Agent, and each such waiver or consent shall be effective only in the specific instance and  for the specific purpose for which given; provided, however, that no such amendment, waiver or consent   shall:          (a)   waive any condition set forth in Section 4.01(a) without the written consent of each Lender,   or waive any condition set forth in Section 4.02 as to any Credit Extension in respect of a particular Tranche   hereunder without the written consent of the Required Tranche 1 Lenders or the Required Tranche 2   Lenders, as the case may be;          (b)   extend or increase the Commitment of any Lender under any Tranche (or reinstate any  Commitment under any Tranche terminated pursuant to Section 8.02) without the written consent of such   Lender;          (c)   postpone any date fixed by this Agreement or any other Loan Document for any payment  or mandatory prepayment of principal, interest, fees or other amounts due to the Lenders (or any of them)  or any scheduled or mandatory reduction of the Aggregate Commitments hereunder or under any other  Loan Document without the written consent of each Lender directly affected thereby;          (d)   reduce the principal of, or the rate of interest specified herein on, any Loan or L/C  Borrowing, or (subject to clause (iv) of the second proviso to this Section 11.01) any fees or other amounts   payable hereunder or under any other Loan Document without the written consent of each Lender directly   affected thereby; provided, however, that (i) only the consent of the Required Tranche 1 Lenders shall be   necessary to amend the definition of “Default Rate” or to waive any obligation of the Company to pay  interest or Letter of Credit Fees at the Default Rate, in respect of any payments to the Tranche 1 Lenders,  and (ii) only the consent of the Required Tranche 2 Lenders shall be necessary to amend the definition of   “Default Rate” or to waive any obligation of any Borrower to pay interest at the Default Rate, in respect of   any payments to the Tranche 2 Lenders;          (e)   change Section 8.03 in a manner that would alter the pro rata sharing of payments required   thereby without the written consent of each Lender;          (f)   amend Section 1.06 or the definition of “Alternative Currency” without the written consent   of each Lender;          (g)   amend Section 2.14 in a manner that would alter how a Designated Borrower is designated   and/or permitted to receive Loans hereunder without the written consent of each Lender;          (h)   except as otherwise provided in this Section 11.01, amend, waive or modify Section   2.01(a), any notice requirements or minimum or integral amounts with respect to prepayments of the   Tranche 1 Loans or reductions of the Tranche 1 Commitments, any rights or obligations of the Tranche 1   Lenders under Section 2.03 or Section 2.04, any provision of Article III pertaining solely to the rights or   obligations of the Tranche 1 Lenders, or any other provision of this Agreement providing for or requiring   the consent of the Required Tranche 1 Lenders, without the written consent of the Required Tranche 1                                               119 

 

     Lenders (and, for the avoidance of doubt, the written consent of the Required Tranche 1 Lenders shall be   sufficient to approve any amendment, waiver or modification described in this Section 11.01(h));          (i)   except as otherwise provided in this Section 11.01, amend, waive or modify Section   2.01(b), any notice requirements or minimum or integral amounts with respect to prepayments of the   Tranche 2 Loans or reductions of the Tranche 2 Commitments, any provision of Article III pertaining solely   to the rights or obligations of the Tranche 2 Lenders, or any other provision of this Agreement providing   for or requiring the consent of the Required Tranche 2 Lenders, without the written consent of the Required   Tranche 2 Lenders (and, for the avoidance of doubt, the written consent of the Required Tranche 2 Lenders   shall be sufficient to approve any amendment, waiver or modification described in this Section 11.01(i));          (j)    (A) change any provision of this Section or the definition of “Required Lenders” or any  other provision hereof specifying the number or percentage of Lenders required to amend, waive or  otherwise modify any rights hereunder or make any determination or grant any consent hereunder without  the written consent of each Lender, (B) change any provision of this Section or the definition of “Required  Tranche 1 Lenders” or any other provision hereof specifying the number or percentage of Tranche 1 Lenders  required to amend, waive or otherwise modify any rights hereunder or make any determination or grant any  consent hereunder without the written consent of each Tranche 1 Lender, or (C) change any provision of  this Section or the definition of “Required Tranche 2 Lenders” or any other provision hereof specifying the  number or percentage of Tranche 2 Lenders required to amend, waive or otherwise modify any rights  hereunder or make any determination or grant any consent hereunder without the written consent of each  Tranche 2 Lender;          (k)   except as otherwise permitted or contemplated by this Agreement, otherwise change the  provisions of any Loan Document in a manner that by its terms could reasonably be expected, in any  material respect, to adversely affect payments due to Lenders holding Loans in a particular Tranche  differently from the rights of Lenders holding Loans in the other Tranche without the prior written consent  of the requisite Lenders in the adversely affected Tranche (i.e., in the case of Tranche 1, the Required  Tranche 1 Lenders, and in the case of Tranche 2, the Required Tranche 2 Lenders);          (l)   release either the Facility Guarantor or the Designated Borrowers’ Guarantor from the  Guaranty without the written consent of each Lender;    and, provided, further, that (i) no amendment, waiver or consent shall, unless in writing and signed by the   applicable L/C Issuer in addition to the Lenders required above, affect the rights or duties of such L/C Issuer   under this Agreement or any Issuer Document relating to any Letter of Credit issued or to be issued by it;   (ii) no amendment, waiver or consent shall, unless in writing and signed by the applicable Swing Line   Lender in addition to the Lenders required above, affect the rights or duties of the applicable Swing Line   Lender under this Agreement; (iii) no amendment, waiver or consent shall, unless in writing and signed by   the Administrative Agent in addition to the Lenders required above, affect the rights or duties of the   Administrative Agent under this Agreement or any other Loan Document; and (iv) the Fee Letters may be   amended, or rights or privileges thereunder waived, in a writing executed only by the respective parties   thereto.  Notwithstanding anything to the contrary herein, no Defaulting Lender shall have any right to   approve or disapprove any amendment, waiver or consent hereunder (and any amendment, waiver or   consent which by its terms requires the consent of all Lenders or each affected Lender may be effected with   the consent of the applicable Lenders other than Defaulting Lenders), except that (x) the Commitment of   any Defaulting Lender under any Tranche may not be increased or extended without the consent of such   Defaulting Lender and (y) any waiver, amendment or modification requiring the consent of all Lenders or   each affected Lender that by its terms affects any Defaulting Lender disproportionately adversely relative   to other affected Lenders shall require the consent of such Defaulting Lender.                                              120 

 

          11.02 Notices; Effectiveness; Electronic Communication.          (a)   Notices Generally.  Except in the case of notices and other communications expressly   permitted to be given by telephone (and except as provided in subsection (b) below), all notices and other   communications provided for herein shall be in writing and shall be delivered by hand or overnight courier   service, mailed by certified or registered mail or sent by telecopier or facsimile as follows, and all notices   and other communications expressly permitted hereunder to be given by telephone shall be made to the   applicable telephone number, as follows:                (i)   if to the Company or any other Loan Party, the Administrative Agent, the L/C        Issuers or the Swing Line Lender, to the address, telecopier or facsimile number, electronic mail        address or telephone number specified for such Person on Schedule 11.02; and                (ii) if to any other Lender, to the address, telecopier or facsimile number, electronic        mail address or telephone number specified in its Administrative Questionnaire (including, as        appropriate, notices delivered solely to the Person designated by a Lender on its Administrative        Questionnaire then in effect for the delivery of notices that may contain material non-public        information relating to the Facility Guarantor or the Company).    Notices and other communications sent by hand or overnight courier service, or mailed by certified or   registered mail, shall be deemed to have been given when received; notices and other communications sent   by telecopier or facsimile shall be deemed to have been given when sent (except that, if not given during   normal business hours for the recipient, shall be deemed to have been given at the opening of business on   the next Business Day for the recipient).  Notices and other communications delivered through electronic   communications to the extent provided in subsection (b) below, shall be effective as provided in such   subsection (b).          (b)   Electronic Communications.  Notices and other communications to the Lenders and the   L/C Issuers hereunder may be delivered or furnished by electronic communication (including e-mail, FpML   messaging, and Internet or intranet websites) pursuant to procedures approved by the Administrative Agent,   provided that the foregoing shall not apply to notices to any Lender or any L/C Issuer pursuant to Article II   if such Lender or such L/C Issuer, as applicable, has notified the Administrative Agent that it is incapable   of receiving notices under such Article by electronic communication.  The Administrative Agent, the Swing   Line Lender, the L/C Issuers or the Company may each, in its discretion, agree to accept notices and other   communications to it hereunder by electronic communications pursuant to procedures approved by it,   provided that approval of such procedures may be limited to particular notices or communications.          Unless the Administrative Agent otherwise prescribes, (i) notices and other communications sent  to an e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement from the  intended recipient (such as by the “return receipt requested” function, as available, return e-mail or other  written acknowledgement), and (ii) notices or communications posted to an Internet or intranet website  shall be deemed received upon the deemed receipt by the intended recipient at its e-mail address as  described in the foregoing clause (i) of notification that such notice or communication is available and   identifying the website address therefor; provided that, for both clauses (i) and (ii), if such notice, email or   other communication is not sent during the normal business hours of the recipient, such notice, email or   communication shall be deemed to have been sent at the opening of business on the next Business Day for   the recipient.          (c)   The Platform.  THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE.”    THE AGENT PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR                                              121 

 

     COMPLETENESS OF THE LOAN PARTY MATERIALS OR THE ADEQUACY OF THE PLATFORM,   AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE LOAN   PARTY MATERIALS.  NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY,   INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR   PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM VIRUSES OR  OTHER CODE DEFECTS, IS MADE BY ANY AGENT PARTY IN CONNECTION WITH THE LOAN  PARTY MATERIALS OR THE PLATFORM.  In no event shall the Administrative Agent or any of its  Related Parties (collectively, the “Agent Parties”) have any liability to any Loan Party, any Lender, any   L/C Issuer or any other Person for losses, claims, damages, liabilities or expenses of any kind (whether in   tort, contract or otherwise) arising out of the Company’s, any Loan Party’s or the Administrative Agent’s   transmission of Loan Party Materials or notices through the platform, any other electronic platform or   electronic messaging service, or through the Internet, except to the extent that such losses, claims, damages,   liabilities or expenses are determined by a court of competent jurisdiction by a final and nonappealable   judgment to have resulted from the gross negligence or willful misconduct of such Agent Party; provided,   however, that in no event shall any Agent Party have any liability to any Loan Party, any Lender, any L/C   Issuer or any other Person for indirect, special, incidental, consequential or punitive damages (as opposed   to direct or actual damages).          (d)   Change of Address, Etc.  Each of the Company, the Facility Guarantor, any other Loan   Party, the Administrative Agent, the L/C Issuers and the Swing Line Lender may change its address,   telecopier, facsimile or telephone number for notices and other communications hereunder by notice to the   other parties hereto.  Each other Lender may change its address, telecopier, facsimile or telephone number   for notices and other communications hereunder by notice to the Company, the Administrative Agent, the   L/C Issuers and the Swing Line Lender.  In addition, each Lender agrees to notify the Administrative Agent   from time to time to ensure that the Administrative Agent has on record (i) an effective address, contact   name, telephone number, telecopier or facsimile number and electronic mail address to which notices and   other communications may be sent and (ii) accurate wire instructions for such Lender.  Furthermore, each   Public Lender agrees to cause at least one individual at or on behalf of such Public Lender to at all times   have selected the “Private Side Information” or similar designation on the content declaration screen of the   Platform in order to enable such Public Lender or its delegate, in accordance with such Public Lender’s   compliance procedures and applicable Law, including United States Federal and state securities Laws, to   make reference to Loan Party Materials that are not made available through the “Public Side Information”   portion of the Platform and that may contain material non-public information with respect to any Loan   Party or its securities for purposes of United States Federal or state securities laws.          (e)   Reliance by Administrative Agent, L/C Issuer and Lenders.  The Administrative Agent, the   L/C Issuers and the Lenders shall be entitled to rely and act upon any notices (including telephonic notices,   Committed Loan Notices, Letter of Credit Applications and Swing Line Loan Notices) purportedly given   by or on behalf of a Loan Party even if (i) such notices were not made in a manner specified herein, were   incomplete or were not preceded or followed by any other form of notice specified herein, or (ii) the terms   thereof, as understood by the recipient, varied from any confirmation thereof.  Each Loan Party shall   indemnify the Administrative Agent, each L/C Issuer, each Lender and the Related Parties of each of them   from all losses, costs, expenses and liabilities resulting from the reliance by such Person on each notice   purportedly given by or on behalf of such Loan Party.  All telephonic notices to and other telephonic   communications with the Administrative Agent may be recorded by the Administrative Agent, and each of   the parties hereto hereby consents to such recording.          11.03 No Waiver; Cumulative Remedies; Enforcement.  No failure by any Lender or the  Administrative Agent to exercise, and no delay by any such Person in exercising, any right, remedy, power  or privilege hereunder or under any other Loan Document shall operate as a waiver thereof; nor shall any                                              122 

 

    single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further  exercise thereof or the exercise of any other right, remedy, power or privilege.  The rights, remedies, powers  and privileges herein provided, and provided under each other Loan Document, are cumulative and not  exclusive of any rights, remedies, powers and privileges provided by law.          Notwithstanding anything to the contrary contained herein or in any other Loan Document, the   authority to enforce rights and remedies hereunder and under the other Loan Documents against the Loan   Parties or any of them shall be vested exclusively in, and all actions and proceedings at law in connection   with such enforcement shall be instituted and maintained exclusively by, the Administrative Agent in   accordance with Section 8.02 for the benefit of all the Lenders and all the L/C Issuers; provided, however,   that the foregoing shall not prohibit (a) the Administrative Agent from exercising on its own behalf the   rights and remedies that inure to its benefit (solely in its capacity as Administrative Agent) hereunder and   under the other Loan Documents, (b) each L/C Issuer or Swing Line Lender from exercising the rights and   remedies that inure to its benefit (solely in its capacity as an L/C Issuer or Swing Line Lender, as the case   may be) hereunder and under the other Loan Documents, (c) any Lender from exercising setoff rights in   accordance with Section 11.08 (subject to the terms of Section 2.13), or (d) any Lender from filing proofs   of claim or appearing and filing pleadings on its own behalf during the pendency of a proceeding relative   to any Loan Party under any Debtor Relief Law; and provided, further, that if at any time there is no Person   acting as Administrative Agent hereunder and under the other Loan Documents, then (i) the Required   Lenders shall have the rights otherwise ascribed to the Administrative Agent pursuant to Section 8.02 and   (ii) in addition to the matters set forth in clauses (b), (c) and (d) of the preceding proviso and subject to   Section 2.13, any Lender may, with the consent of the Required Lenders, enforce any rights and remedies   available to it and as authorized by the Required Lenders.          11.04 Expenses; Indemnity; Damage Waiver.          (a)   Costs and Expenses.  The Company shall pay (i) all reasonable, documented out-of-pocket   expenses incurred by the Administrative Agent and its Affiliates (including the reasonable fees, charges   and disbursements of counsel for the Administrative Agent), in connection with the syndication of the credit   facilities provided for herein, the preparation, negotiation, execution, delivery and administration of this   Agreement and the other Loan Documents or any amendments, modifications or waivers of the provisions  hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated),  (ii) all reasonable, documented out-of-pocket expenses incurred by any L/C Issuer in connection with the  issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder  and (iii) all out-of-pocket expenses incurred by the Administrative Agent, any Lender or any L/C Issuer  (including the fees, charges and disbursements of any counsel for the Administrative Agent, any Lender or  any L/C Issuer), and shall pay all fees and time charges for attorneys who may be employees of the  Administrative Agent, any Lender or any L/C Issuer, in connection with the enforcement or protection of  its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under  this Section, or (B) in connection with the Loans made or Letters of Credit issued hereunder, including all  such out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such  Loans or Letters of Credit.  In the event that any Lender, or any successor in title, transferee or assignee  thereof, requests the notarization in Spain of this Agreement, any ancillary document related thereto or the  notarization of an Assignment and Assumption agreement, the parties hereto agree that the taxes, costs, and  expenses related to such notarization will not be borne by the Company or any Designated Borrower but  by such Lender, or any successor in title, transferee or assignee thereof, requesting notarization; provided   that if such notarization is reasonably requested by the Administrative Agent (upon the reasonable   instruction of the Required Lenders), then such taxes, costs and expenses will be borne by the Company or   a Designated Borrower, as applicable.                                               123 

 

           (b)   Indemnification by Loan Parties.  Each Loan Party shall indemnify the Administrative   Agent (and any sub-agent thereof), each Lender and each L/C Issuer, and each Related Party of any of the   foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee   harmless from, any and all losses, claims, damages, liabilities and related expenses (including the   reasonable fees, charges and disbursements of any counsel for any Indemnitee), incurred by any Indemnitee   or asserted against any Indemnitee by any Person (including the Company or any other Loan Party) other   than such Indemnitee and its Related Parties arising out of, in connection with, or as a result of (i) the   execution or delivery of this Agreement, any other Loan Document or any agreement or instrument   contemplated hereby or thereby, the performance by the parties hereto of their respective obligations   hereunder or thereunder, the consummation of the transactions contemplated hereby or thereby, or, in the   case of the Administrative Agent (and any sub-agent thereof) and its Related Parties only, the administration   of this Agreement and the other Loan Documents (including in respect of any matters addressed in Section   3.01), (ii) any Loan or Letter of Credit or the use or proposed use of the proceeds therefrom (including any   refusal by the applicable L/C Issuer to honor a demand for payment under a Letter of Credit if the documents   presented in connection with such demand do not strictly comply with the terms of such Letter of Credit),   (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or   operated by the Facility Guarantor or any of its Subsidiaries, or any Environmental Liability related in any   way to the Facility Guarantor or any of its Subsidiaries, or (iv) any actual or prospective claim, litigation,   investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other   theory, whether brought by a third party or by the Facility Guarantor, the Company, or any other Loan   Party, and regardless of whether any Indemnitee is a party thereto, IN ALL CASES, WHETHER OR   NOT CAUSED BY OR ARISING, IN WHOLE OR IN     PART, OUT OF THE COMPARATIVE,   CONTRIBUTORY OR SOLE NEGLIGENCE OF THE INDEMNITEE; provided that such indemnity   shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or   related expenses (x) are determined by a court of competent jurisdiction by final and nonappealable   judgment to have resulted from the gross negligence or willful misconduct of such Indemnitee, (y) result   from a claim brought by the Facility Guarantor, the Company, or any other Loan Party against an   Indemnitee for material breach of such Indemnitee’s obligations hereunder or under any other Loan  Document, if the Facility Guarantor, the Company, or such other Loan Party, as the case may be, has  obtained a final and nonappealable judgment in its favor on such claim as determined by a court of  competent jurisdiction, or (z) result from disputes solely between or among Indemnitees (other than any  claims against any Indemnitee in its capacity as the Administrative Agent, an Arranger, an L/C Issuer or  the Swing Line Lender or any similar role under this Agreement or any other Loan Documents or any of  their Subsidiaries or Affiliates (in each case, acting in its capacity as such)) and not arising out of or  involving any act or omission of the Borrowers or any of their Subsidiaries or Affiliates (including their   officers, directors, employees or controlling Persons).  Without limiting the provisions of Section 3.01(c),   this Section 11.04(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims,   damages, or liabilities arising from any non-Tax claim.          (c)   Reimbursement by Lenders.  To the extent that the Company or the Facility Guarantor for   any reason fails to indefeasibly pay any amount required under subsection (a) or (b) of this Section to be   paid by it to the Administrative Agent (or any sub-agent thereof), any L/C Issuer, the Swing Line Lender   or any Related Party of any of the foregoing, each Lender severally agrees to pay to the Administrative   Agent (or any such sub-agent), the applicable L/C Issuer, the Swing Line Lender or such Related Party, as   the case may be, such Lender’s pro rata share (determined as of the time that the applicable unreimbursed   expense or indemnity payment is sought based on each Lender’s share of the Total Credit Exposure at such   time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such   Lender), such payment to be made severally among them based on such Lender’s Applicable Percentage   (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought),   provided further that the unreimbursed expense or indemnified loss, claim, damage, liability or related                                              124 

 

     expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such   sub-agent), the applicable L/C Issuer or the Swing Line Lender in its capacity as such, or against any Related   Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent), the applicable   L/C Issuer or the Swing Line Lender in connection with such capacity.  The obligations of the Lenders   under this subsection (c) are subject to the provisions of Section 2.12(d).          (d)   Waiver of Consequential Damages, Etc.  To the fullest extent permitted by applicable law,   no Loan Party shall assert, and hereby waives, and acknowledges that no other Person shall have, any claim   against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages   (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement,   any other Loan Document or any agreement or instrument contemplated hereby, the transactions   contemplated hereby or thereby, any Loan or Letter of Credit or the use of the proceeds thereof.  No   Indemnitee referred to in subsection (b) above shall be liable for any damages arising from the use by   unintended recipients of any information or other materials distributed to such unintended recipients by   such Indemnitee through telecommunications, electronic or other information transmission systems in   connection with this Agreement or the other Loan Documents or the transactions contemplated hereby or   thereby other than for direct or actual damages resulting from the gross negligence or willful misconduct   of such Indemnitee as determined by a final and nonappealable judgment of a court of competent   jurisdiction.          (e)   Payments.  All amounts due under this Section shall be payable not later than ten Business   Days after demand therefor.          (f)   Survival.  The agreements in this Section and the indemnity provisions of Section 11.02(e)   shall survive the resignation of the Administrative Agent, any L/C Issuer and the Swing Line Lender, the   replacement of any Lender, the termination of the Aggregate Commitments and the repayment, satisfaction   or discharge of all the other Obligations.          11.05 Payments Set Aside.  To the extent that any payment by or on behalf of any Loan Party is  made to the Administrative Agent, any L/C Issuer or any Lender, or the Administrative Agent, any L/C  Issuer or any Lender exercises its right of setoff, and such payment or the proceeds of such setoff or any  part thereof is subsequently invalidated, declared to be fraudulent or preferential, set aside or required  (including pursuant to any settlement entered into by the Administrative Agent, such L/C Issuer or such  Lender in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any  proceeding under any Debtor Relief Law or otherwise, then (a) to the extent of such recovery, the obligation  or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as  if such payment had not been made or such setoff had not occurred, and (b) each Lender and each L/C  Issuer severally agrees to pay to the Administrative Agent upon demand its applicable share (without  duplication) of any amount so recovered from or repaid by the Administrative Agent, plus interest thereon  from the date of such demand to the date such payment is made at a rate per annum equal to the applicable  Overnight Rate from time to time in effect, in the applicable currency of such recovery or payment.  The  obligations of the Lenders and the L/C Issuers under clause (b) of the preceding sentence shall survive the   payment in full of the Obligations and the termination of this Agreement.          11.06 Successors and Assigns.          (a)   Successors and Assigns Generally.  The provisions of this Agreement shall be binding upon   and inure to the benefit of the parties hereto and their respective successors and assigns permitted hereby,   except that neither the Company nor any other Loan Party may assign or otherwise transfer any of its rights   or obligations hereunder without the prior written consent of the Administrative Agent and each Lender                                              125 

 

   and no Lender may assign or otherwise transfer any of its rights or obligations hereunder except (i) to an  assignee in accordance with the provisions of subsection (b) of this Section, (ii) by way of participation in  accordance with the provisions of subsection (d) of this Section, or (iii) by way of pledge or assignment of  a security interest subject to the restrictions of subsection (f) of this Section (and any other attempted  assignment or transfer by any party hereto shall be null and void).  Nothing in this Agreement, expressed  or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective  successors and assigns permitted hereby, Participants to the extent provided in subsection (d) of this Section  and, to the extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent,  the L/C Issuers and the Lenders) any legal or equitable right, remedy or claim under or by reason of this  Agreement.         (b)   Assignments by Lenders.  Any Lender may at any time assign to one or more assignees all  or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitment  under any Tranche and the Loans (including for purposes of this subsection (b), participations in L/C  Obligations and in Swing Line Loans) at the time owing to it); provided that (in each case with respect to  any Tranche) any such assignment shall be subject to the following conditions:               (i)   Minimum Amounts.                     (A)  in the case of an assignment of the entire remaining amount of the             assigning Lender’s Commitment (in each case with respect to any Tranche) or             contemporaneous assignments to related Approved Funds (determined after giving effect             to such Assignment) that equal at least the amount specified in subsection (b)(i)(B) of this              Section in the aggregate and the Loans at the time owing to it under such Tranche or in the              case of an assignment to a Lender, an Affiliate of a Lender or an Approved Fund, no              minimum amount need be assigned; and                     (B)   in any case not described in subsection (b)(i)(A) of this Section, the              aggregate amount of any Commitment (which for this purpose includes Loans outstanding              thereunder) or, if the applicable Commitment is not then in effect, the principal outstanding              balance of the Loans of the assigning Lender subject to each such assignment, determined              as of the date the Assignment and Assumption with respect to such assignment is delivered              to the Administrative Agent or, if “Trade Date” is specified in the Assignment and              Assumption, as of the Trade Date, shall not be less than $5,000,000 unless each of the              Administrative Agent and, so long as no Event of Default has occurred and is continuing,              the Company otherwise consents (each such consent not to be unreasonably withheld or              delayed).               (ii) Proportionate Amounts.  Each partial assignment shall be made as an assignment        of a proportionate part of all the assigning Lender’s rights and obligations under this Agreement        with respect to the Loans or the Commitment assigned, except that this clause (ii) shall not apply        to the Swing Line Lender’s rights and obligations in respect of Swing Line Loans or prohibit any        Lender from assigning all or a portion of its rights and obligations among separate Tranches        hereunder on a non-pro rata basis;               (iii) Required Consents.  No consent shall be required for any assignment except to the        extent required by subsection (b)(i)(B) of this Section and, in addition:                     (A)  the consent of the Company (such consent not to be unreasonably withheld             or delayed) shall be required unless (1) an Event of Default has occurred and is continuing                                           126 

 

                       at the time of such assignment or (2) such assignment is to a Lender, an Affiliate of a         Lender or an Approved Fund; provided that the Company shall be deemed to have         consented to any such assignment unless it shall object thereto by written notice to the         Administrative Agent within ten (10) Business Days after having received notice thereof;                (B)   the consent of the Administrative Agent (such consent not to be        unreasonably withheld or delayed) shall be required if such assignment is to a Person that        is not a Lender, an Affiliate of such Lender or an Approved Fund with respect to such        Lender;                (C)   the consent of each L/C Issuer (such consent not to be unreasonably        withheld or delayed) shall be required for any assignment in respect of the Tranche 1 Loans        and Tranche 1 Commitments that increases the obligation of the assignee to participate in        exposure under one or more Letters of Credit (whether or not then outstanding); and               (D)   the consent of the Swing Line Lender (such consent not to be unreasonably        withheld or delayed) shall be required for any assignment in respect of the Tranche 1 Loans        and Tranche 1 Commitments.          (iv)  Assignment and Assumption.  The parties to each assignment shall execute and   deliver to the Administrative Agent an Assignment and Assumption, together with a processing   and recordation fee in the amount of $3,500; provided, however, that the Administrative Agent   may, in its sole discretion, elect to waive such processing and recordation fee in the case of any   assignment.  The assignee, if it is not a Lender, shall deliver to the Administrative Agent an  Administrative Questionnaire.          (v)   No Assignment to Certain Persons.  No such assignment shall be made (A) to the   Facility Guarantor or any of the Facility Guarantor’s Affiliates or Subsidiaries, or (B) to any   Defaulting Lender or any of its Subsidiaries, or any Person who, upon becoming a Lender   hereunder, would constitute any of the foregoing Persons described in this clause (B), or (C) to a   natural Person (or to a holding company, investment vehicle or trust for, or owned and operated for   the primary benefit of, a natural Person).          (vi)  Certain Additional Payments.  In connection with any assignment of rights and   obligations of any Defaulting Lender hereunder, no such assignment shall be effective unless and   until, in addition to the other conditions thereto set forth herein, the parties to the assignment shall   make such additional payments to the Administrative Agent in an aggregate amount sufficient,   upon distribution thereof as appropriate (which may be outright payment, purchases by the assignee   of participations or subparticipations, or other compensating actions, including funding, with the   consent of the Company and the Administrative Agent, the applicable pro rata share of Loans   previously requested but not funded by the Defaulting Lender, to each of which the applicable   assignee and assignor hereby irrevocably consent), to (x) pay and satisfy in full all payment   liabilities then owed by such Defaulting Lender to the Administrative Agent, any L/C Issuer or any   Lender hereunder (and interest accrued thereon) and (y) acquire (and fund as appropriate) its full   pro rata share of all Loans and participations in Letters of Credit and Swing Line Loans in   accordance with its Applicable Percentage.  Notwithstanding the foregoing, in the event that any   assignment of rights and obligations of any Defaulting Lender hereunder shall become effective   under applicable Law without compliance with the provisions of this paragraph, then the assignee   of such interest shall be deemed to be a Defaulting Lender for all purposes of this Agreement until   such compliance occurs.                                                                127 

 

     Subject to acceptance and recording thereof by the Administrative Agent pursuant to subsection (c) of this   Section, from and after the effective date specified in each Assignment and Assumption, the assignee   thereunder shall be a party to this Agreement and, to the extent of the interest assigned by such Assignment   and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning   Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be   released from its obligations under this Agreement (and, in the case of an Assignment and Assumption   covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease   to be a party hereto) but shall continue to be entitled to the benefits of Sections 3.01, 3.04, 3.05, and 10.04   with respect to facts and circumstances occurring prior to the effective date of such assignment; provided   that except to the extent otherwise expressly agreed by the affected parties, no assignment by a Defaulting   Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s   having been a Defaulting Lender.  Upon request, each Borrower (at its expense) shall execute and deliver   a Note to the assignee Lender.  Any assignment or transfer by a Lender of rights or obligations under this   Agreement that does not comply with this subsection shall be treated for purposes of this Agreement as a   sale by such Lender of a participation in such rights and obligations in accordance with subsection (d) of   this Section.          (c)   Register.  The Administrative Agent, acting solely for this purpose as an agent of the   Borrowers (and such agency being non-fiduciary and solely for tax purposes), shall maintain at the   Administrative Agent’s Office a copy of each Assignment and Assumption delivered to it (or the equivalent   thereof in electronic form) and a register for the recordation of the names and addresses of the Lenders, and   the Commitments of, and principal amounts (and stated interest) of the Loans and L/C Obligations owing   to, each Lender pursuant to the terms hereof from time to time (the “Register”).  The entries in the Register   shall be conclusive absent manifest error, and the Borrowers, the Administrative Agent and the Lenders   shall treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender   hereunder for all purposes of this Agreement.  The Register shall be available for inspection by the   Company and any Lender, at any reasonable time and from time to time upon reasonable prior notice.          (d)   Participations.  Any Lender may at any time, without the consent of, or notice to, any   Borrower, the Administrative Agent, any L/C Issuer or the Swing Line Lender, sell participations to any   Person (other than a natural Person, or a holding company, investment vehicle or trust for, or owned and   operated for the primary benefit of, a natural Person, a Defaulting Lender or the Facility Guarantor or any   of the Facility Guarantor’s Affiliates or Subsidiaries) (each, a “Participant”) in all or a portion of such   Lender’s rights and/or obligations under this Agreement (including all or a portion of its Commitment   and/or the Loans (including such Lender’s participations in L/C Obligations and/or Swing Line Loans)   owing to it); provided that (i) such Lender’s obligations under this Agreement shall remain unchanged, (ii)   such Lender shall remain solely responsible to the other parties hereto for the performance of such   obligations and (iii) the Borrowers, the Administrative Agent, the Lenders and the L/C Issuers shall   continue to deal solely and directly with such Lender in connection with such  Lender'sLender’s rights and   obligations under this Agreement.  For the avoidance of doubt, each Lender shall be responsible for the   indemnity under Section 11.04(c) without regard to the existence of any participation.          Any agreement or instrument pursuant to which a Lender sells such a participation shall provide  that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment,  modification or waiver of any provision of this Agreement; provided that such agreement or instrument   may provide that such Lender will not, without the consent of the Participant, agree to any amendment,   waiver or other modification described in the first proviso to Section 11.01 that affects such Participant.    The Company agrees that each Participant shall be entitled to the benefits of Sections 3.01, 3.04 and 3.05   to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to subsection   (b) of this Section (it being understood that the documentation required under Section 3.01(e) shall be                                              128 

 

   delivered to the Lender who sells the participation) to the same extent as if it were a Lender and had acquired  its interest by assignment pursuant to paragraph (b) of this Section; provided that such Participant (A) agrees  to be subject to the provisions of Sections 3.06 and 11.13 as if it were an assignee under paragraph (b) of  this Section and (B) shall not be entitled to receive any greater payment under Sections 3.01 or 3.04, with  respect to any participation, than the Lender from whom it acquired the applicable participation would have  been entitled to receive, except to the extent such entitlement to receive a greater payment results from a  Change in Law that occurs after the Participant acquired the applicable participation.  Each Lender that  sells a participation agrees, at the Company’s request and expense, to use reasonable efforts to cooperate  with the Company to effectuate the provisions of Section 3.06 with respect to any Participant.  To the extent  permitted by law, each Participant also shall be entitled to the benefits of Section 11.08 as though it were a  Lender, provided that such Participant agrees to be subject to Section 2.13 as though it were a Lender.  Each  Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary agent of the  Company, maintain a register on which it enters the name and address of each Participant and the principal  amounts (and stated interest) of each Participant’s interest in the Loans or other obligations under the Loan  Documents (the “Participant Register”); provided that no Lender shall have any obligation to disclose all  or any portion of the Participant Register (including the identity of any Participant or any information  relating to a Participant’s interest in any commitments, loans, letters of credit or its other obligations under  any Loan Document) to any Person except to the extent that such disclosure is necessary to establish that  such commitment, loan, letter of credit or other obligation is in registered form under Section 5f.103-1(c)  of the United States Treasury Regulations.  The entries in the Participant Register shall be conclusive absent  manifest error, and such Lender shall treat each Person whose name is recorded in the Participant Register  as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the  contrary.  For the avoidance of doubt, the Administrative Agent (in its capacity as Administrative Agent)  shall have no responsibility for maintaining a Participant Register.         (e)   Certain Pledges.  Any Lender may at any time pledge or assign a security interest in all or  any portion of its rights under this Agreement (including under its Note(s), if any) to secure obligations of  such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank or any  other central bank having jurisdiction over such Lender; provided that no such pledge or assignment shall  release such Lender from any of its obligations hereunder or substitute any such pledgee or assignee for  such Lender as a party hereto.         (f)   Resignation as L/C Issuer after Assignment.  Notwithstanding anything to the contrary  contained herein, if at any time any L/C Issuer assigns all of its Tranche 1 Commitment and Tranche 1  Loans pursuant to subsection (b) above, such L/C Issuer may, upon 30 days’ notice to the Company and  the Lenders, resign as an L/C Issuer.  In the event of any such resignation as an L/C Issuer, the Company  shall be entitled to appoint from among the Tranche I Lenders a successor L/C Issuer hereunder; provided,  however, that (x) no failure by the Company to appoint any such successor shall affect the resignation of  any L/C Issuer and (y) no such appointment shall be effective without the consent of the appointed L/C  Issuer, as the case may be.  If any L/C Issuer resigns as an L/C Issuer, it shall retain all the rights and  obligations of an L/C Issuer hereunder with respect to all Letters of Credit issued by it outstanding as of the  effective date of its resignation as an L/C Issuer and all L/C Obligations with respect thereto (including the  right to require the Tranche 1 Lenders to make Base Rate Committed Loans or fund risk participations in  Unreimbursed Amounts pursuant to Section 2.03(c)).  Upon the appointment of a successor L/C Issuer, (a)  such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of  the retiring L/C Issuer, and (b) the successor L/C Issuer shall issue letters of credit in substitution for the  Letters of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory  to the retiring L/C Issuer to effectively assume the obligations of the retiring L/C Issuer with respect to such  Letters of Credit. No resignation by any L/C Issuer shall impact or affect the rights, duties and obligations  of any other L/C Issuer hereunder.                                           129 

 

           (g)   Resignation as Swing Line Lender after Assignment.  Notwithstanding anything to the   contrary contained herein, if at any time Bank of America assigns all of its Tranche 1 Commitment and   Tranche 1 Loans pursuant to subsection (b) above, Bank of America may, upon 30 days’ notice to the   Company, resign as Swing Line Lender.  In the event of any such resignation as Swing Line Lender, the   Company shall be entitled to appoint from among the Tranche I Lenders a successor Swing Line Lender  hereunder; provided, however, that (x) no failure by the Company to appoint any such successor shall affect   the resignation of Bank of America as Swing Line Lender, as the case may be and (y) no such appointment   shall be effective without the consent of the appointed Swing Line Lender, as the case may be.  If Bank of   America resigns as Swing Line Lender, it shall retain all the rights of the Swing Line Lender provided for   hereunder with respect to Swing Line Loans made by it and outstanding as of the effective date of such   resignation, including the right to require the Tranche 1 Lenders to make Base Rate Committed Loans or   fund risk participations in outstanding Swing Line Loans pursuant to Section 2.04(c).  Upon the   appointment of a successor Swing Line Lender, such successor shall succeed to and become vested with all   of the rights, powers, privileges and duties of the retiring Swing Line Lender, as the case may be.          11.07 Treatment of Certain Information; Confidentiality.  Each of the Administrative Agent,  the Lenders and the L/C Issuers agrees to maintain the confidentiality of the Information (as defined below),  except that Information may be disclosed (a) to its Affiliates and to its Related Parties (it being understood  that the Persons to whom such disclosure is made will be informed of the confidential nature of such  Information and shall have agreed to keep such Information confidential), (b) to the extent required or  requested by any regulatory authority purporting to have jurisdiction over such Person or its Related Parties  (including any self-regulatory authority, such as the National Association of Insurance Commissioners), (c)  to the extent required by applicable laws or regulations or by any subpoena or similar legal process, (d) to  any other party hereto, (e) in connection with the exercise of any remedies hereunder or under any other  Loan Document or any action or proceeding relating to this Agreement or any other Loan Document or the  enforcement of rights hereunder or thereunder, (f) subject to an agreement containing provisions  substantially the same as those of this Section, to (i) any assignee of or Participant in, or any prospective  assignee of or Participant in, any of its rights and obligations under this Agreement or any Eligible Assignee  invited to be a Lender pursuant to Section 2.15(c) or (ii) any actual or prospective party (or its Related   Parties) to any swap, derivative or other transaction under which payments are to be made by reference to   any of the Borrowers and their obligations, this Agreement or payments hereunder, (g) on a confidential   basis to, upon the request of, (i) any rating agency in connection with rating the Company or its Subsidiaries   or the credit facilities provided hereunder or (ii) the CUSIP Service Bureau or any similar agency in   connection with the issuance and monitoring of CUSIP numbers or other market identifiers with respect to   the credit facilities provided hereunder, (h) with the prior written consent of the Company, (i) on a   confidential basis to any credit insurance provider relating to the Borrowers and their obligations, or (j) to   the extent such Information (x) becomes publicly available other than as a result of a breach of this Section   or (y) becomes available to the Administrative Agent, any Lender, any L/C Issuer or any of their respective   Affiliates on a nonconfidential basis from a source other than the Facility Guarantor, the Company or any   of their Subsidiaries and that is not in breach of a confidentiality obligation to the Facility Guarantor or to   the Company or any of their Subsidiaries.  In addition, the Administrative Agent and the Lenders may   disclose the existence of this Agreement and information about this Agreement to market data collectors,   similar service providers to the lending industry and service providers to the Arrangers and the Lenders in   connection with the administration of this Agreement, the other Loan Documents, and the Commitments,   but only to the extent consistent with information that has previously been publicly disclosed by the Facility   Guarantor.          For purposes of this Section, “Information” means all information received from the Facility   Guarantor or any Subsidiary relating to the Facility Guarantor or any Subsidiary or any of their respective   businesses, other than any such information that is available to the Administrative Agent, any Lender or                                              130 

 

     any L/C Issuer on a nonconfidential basis prior to disclosure by the Facility Guarantor or any Subsidiary   (from a source other than the Facility Guarantor or any Subsidiary and that is not in breach of a   confidentiality obligation to the Facility Guarantor or any Subsidiary), provided that, in the case of   information received from the Facility Guarantor or any Subsidiary after the date hereof, such information   is clearly identified at the time of delivery as confidential.  Any Person required to maintain the   confidentiality of Information as provided in this Section shall be considered to have complied with its   obligation to do so if such Person has exercised reasonable care or the same degree of care to maintain the   confidentiality of such Information as such Person would accord to its own confidential information.          Each of the Administrative Agent, the Lenders and the L/C Issuers acknowledges that (a) the  Information may include material non-public information concerning the Facility Guarantor or a  Subsidiary, as the case may be, (b) it has developed compliance procedures regarding the use of material  non-public information and (c) it will handle such material non-public information in accordance with  applicable Law, including United States Federal and state securities Laws.          If any Loan Party provides the Lender Parties with personal data of any individual as required by  or pursuant to the Loan Documents, that Loan Party represents and warrants to the Lender Parties that it  has, to the extent required by law, (a) notified the relevant individual of the purposes for which data will be  collected, processed, used or disclosed, and (b) obtained such individual’s consent for, and hereby consents  on behalf of such individual to, the collection, processing, use and disclosure of his/her personal data by  the Lender Parties, in each case, in accordance with or for the purposes of the Loan Documents. Each Loan  Party agrees and undertakes to notify the Administrative Agent promptly upon its becoming aware of the  withdrawal by the relevant individual of his/her consent to the collection, processing, use and/or disclosure  by any Lender Party of any personal data provided by that Loan Party to any Lender Party.  Any consent  given pursuant to this Agreement in relation to personal data shall, subject to all applicable laws and  regulations, survive death, incapacity, bankruptcy or insolvency of any such individual and the termination  or expiration of this Agreement.          11.08 Right of Setoff.  If an Event of Default shall have occurred and be continuing, each Lender,  each L/C Issuer and each of their respective Affiliates is hereby authorized at any time and from time to  time, to the fullest extent permitted by applicable law, to set off and apply any and all deposits (general or  special, time or demand, provisional or final, in whatever currency) at any time held and other obligations  (in whatever currency) at any time owing by such Lender, such L/C Issuer or any such Affiliate to or for  the credit or the account of the Company or any other Loan Party against any and all of the obligations of  the Company or such Loan Party now or hereafter existing under this Agreement or any other Loan  Document to such Lender or such L/C Issuer or their respective Affiliates, irrespective of whether or not  such Lender, L/C Issuer or Affiliate shall have made any demand under this Agreement or any other Loan  Document and although such obligations of the Company or such Loan Party may be contingent or  unmatured or are owed to a branch, office or Affiliate of such Lender or such L/C Issuer different from the  branch, office or Affiliate holding such deposit or obligated on such indebtedness; provided that in the event   that any Defaulting Lender shall exercise any such right of setoff, (x) all amounts so set off shall be paid   over immediately to the Administrative Agent for further application in accordance with the provisions of   Section 2.17 and, pending such payment, shall be segregated by such Defaulting Lender from its other   funds and deemed held in trust for the benefit of the Administrative Agent, the L/C Issuers  and the Lenders,   and (y) the Defaulting Lender shall provide promptly to the Administrative Agent a statement describing   in reasonable detail the Obligations owing to such Defaulting Lender as to which it exercised such right of   setoff.  The rights of each Lender, each L/C Issuer and their respective Affiliates under this Section are in   addition to other rights and remedies (including other rights of setoff) that such Lender, such L/C Issuer or   their respective Affiliates may have.  Notwithstanding anything to the contrary contained herein, each   Lender, each L/C Issuer and their respective Affiliates shall have no right to set off and apply any deposits                                              131 

 

     held or other obligations owing by such Lender, such L/C Issuer or any such Affiliate to or for the credit or   the account of any Foreign Obligor against any of the obligations of any Loan Party which is not a Foreign   Obligor.  Each Lender and each L/C Issuer agrees to notify the Company and the Administrative Agent   promptly after any such setoff and application, provided that the failure to give such notice shall not affect   the validity of such setoff and application.          11.09 Interest Rate Limitation.  Notwithstanding anything to the contrary contained in any  Loan Document, the interest paid or agreed to be paid under the Loan Documents shall not exceed the  maximum rate of non-usurious interest permitted by applicable Law (the “Maximum Rate”).  If the   Administrative Agent or any Lender shall receive interest in an amount that exceeds the Maximum Rate,   the excess interest shall be applied to the principal of the Loans or, if it exceeds such unpaid principal,   refunded to the Company.  In determining whether the interest contracted for, charged, or received by the   Administrative Agent or a Lender exceeds the Maximum Rate, such Person may, to the extent permitted   by applicable Law, (a) characterize any payment that is not principal as an expense, fee, or premium rather   than interest, (b) exclude voluntary prepayments and the effects thereof, and (c) amortize, prorate, allocate,   and spread in equal or unequal parts the total amount of interest throughout the contemplated term of the   Obligations hereunder.          11.10 Counterparts; Integration; Effectiveness.  This Agreement may be executed in  counterparts (and by different parties hereto in different counterparts), each of which shall constitute an  original, but all of which when taken together shall constitute a single contract.  This Agreement, the other  Loan Documents, and any separate letter agreements with respect to fees payable to the Administrative  Agent or the L/C Issuers, constitute the entire contract among the parties relating to the subject matter  hereof and supersede any and all previous agreements and understandings, oral or written, relating to the  subject matter hereof.  Except as provided in Section 4.01, this Agreement shall become effective when it   shall have been executed by the Administrative Agent and when the Administrative Agent shall have   received counterparts hereof that, when taken together, bear the signatures of each of the other parties   hereto.  Delivery of an executed counterpart of a signature page of this Agreement by facsimile or other   electronic imaging means (e.g. “pdf” or “tif”) shall be effective as delivery of a manually executed   counterpart of this Agreement.          11.11 Survival of Representations and Warranties.  All representations and warranties made  hereunder and in any other Loan Document or other document delivered pursuant hereto or thereto or in  connection herewith or therewith shall survive the execution and delivery hereof and thereof.  Such  representations and warranties have been or will be relied upon by the Administrative Agent and each  Lender, regardless of any investigation made by the Administrative Agent or any Lender or on their behalf  and notwithstanding that the Administrative Agent or any Lender may have had notice or knowledge of  any Default at the time of any Credit Extension, and shall continue in full force and effect as long as any  Loan or any other Obligation hereunder shall remain unpaid or unsatisfied (other than unasserted  indemnification, tax gross up, expense reimbursement or yield protection obligations, in each case, for  which no claim has been made) or any Letter of Credit shall remain outstanding.          11.12 Severability.  If any provision of this Agreement or the other Loan Documents is held to  be illegal, invalid or unenforceable, (a) the legality, validity and enforceability of the remaining provisions  of this Agreement and the other Loan Documents shall not be affected or impaired thereby and (b) the  parties shall endeavor in good faith negotiations to replace the illegal, invalid or unenforceable provisions  with valid provisions the economic effect of which comes as close as possible to that of the illegal, invalid  or unenforceable provisions.  The invalidity of a provision in a particular jurisdiction shall not invalidate or  render unenforceable such provision in any other jurisdiction.  Without limiting the foregoing provisions  of this Section 11.12, if and to the extent that the enforceability of any provisions in this Agreement relating                                              132 

 

    to Defaulting Lenders shall be limited by Debtor Relief Laws, as determined in good faith by the  Administrative Agent, the L/C Issuers or the Swing Line Lender, as applicable, then such provisions shall  be deemed to be in effect only to the extent not so limited.          11.13 Replacement of Lenders.  If the Company is entitled to replace a Lender pursuant to  the   provisions of Section 3.06, or if any Lender is a Defaulting Lender or a Non-Consenting Lender, then the   Company may, at its sole expense and effort, upon notice to such Lender and the Administrative Agent,   require such Lender to assign and delegate, without recourse (in accordance with and subject to the   restrictions contained in, and consents required by, Section 11.06), all of its interests, rights (other than its   existing rights to payments pursuant to Sections 3.01 and 3.04) and obligations under this Agreement and   the related Loan Documents to an Eligible Assignee that shall assume such obligations (which assignee   may be another Lender, if a Lender accepts such assignment), provided that:          (a)   the Company shall have paid (or caused a Designated Borrower to pay) to the  Administrative Agent the assignment fee (if any) specified in Section 11.06(b);          (b)   such Lender shall have received payment of an amount equal to 100% of the outstanding  principal of its Loans and L/C Advances, accrued interest thereon, accrued fees and all other amounts  payable to it hereunder and under the other Loan Documents (including any amounts under Section 3.05)   from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the Company   or applicable Designated Borrower (in the case of all other amounts);          (c)   in the case of any such assignment resulting from a claim for compensation under Section   3.04 or payments required to be made pursuant to Section 3.01, such assignment will result in a reduction   in such compensation or payments thereafter;          (d)   such assignment does not conflict with applicable Laws; and          (e)   in the case of an assignment resulting from a Lender becoming a Non-Consenting Lender,  the applicable assignee shall have consented to the applicable amendment, waiver or consent.          A Lender shall not be required to make any such assignment or delegation if, prior thereto, as a  result of a waiver or consent by such Lender or otherwise, the circumstances entitling the Company to  require such assignment and delegation cease to apply.           Notwithstanding the foregoing, in connection with any replacement of a Lender under this Section   11.13, if a Lender that is being replaced pursuant to the provisions of Section 3.06, or is a Defaulting Lender   or a Non-Consenting Lender, as applicable, that was provided notice as set forth in the previous paragraph   does not execute and deliver to the Administrative Agent a duly completed Assignment and Assumption   and/or any other documentation necessary to reflect such replacement by the later of (a) the date on which   the replacement Lender executes and delivers such Assignment and Assumption and/or such other   documentation and (b) the date as of which all obligations of the Borrowers owing to such Lender that is   being replaced pursuant to the provisions of Section 3.06, of that is a Defaulting Lender or a Non-  Consenting Lender, as applicable, relating to the Loans so assigned shall be paid in full to such Lender,   then such Lender that is being replaced pursuant to the provisions of Section 3.06, of is a Defaulting Lender   or a Non-Consenting Lender, as applicable, shall be deemed to have executed and delivered such   Assignment and Assumption and/or such other documentation as of such date, and the Administrative   Agent shall record such assignment in the Register.                                                133 

 

          11.14 Governing Law; Jurisdiction; Etc.          (a)   GOVERNING LAW.  THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS   AND ANY CLAIMS, CONTROVERSY, DISPUTE OR CAUSE OF ACTION (WHETHER IN   CONTRACT OR TORT OR OTHERWISE) BASED UPON, ARISING OUT OF OR RELATING TO   THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT (EXCEPT, AS TO ANY OTHER LOAN   DOCUMENT, AS EXPRESSLY SET FORTH THEREIN) AND THE TRANSACTIONS   CONTEMPLATED HEREBY AND THEREBY SHALL BE GOVERNED BY, AND CONSTRUED IN   ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.          (b)   SUBMISSION TO JURISDICTION.  EACH PARTY HERETO  IRREVOCABLY AND   UNCONDITIONALLY AGREES THAT IT WILL NOT COMMENCE ANY ACTION, LITIGATION   OR PROCEEDING OF ANY KIND OR DESCRIPTION, WHETHER IN LAW OR EQUITY, WHETHER   IN CONTRACT OR IN TORT OR OTHERWISE, AGAINST THE ADMINISTRATIVE AGENT, ANY   LENDER, ANY L/C ISSUER, OR ANY RELATED PARTY OF THE FOREGOING IN ANY WAY   RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE   TRANSACTIONS RELATING HERETO OR THERETO, IN ANY FORUM OTHER THAN THE   COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK COUNTY AND OF THE   UNITED STATES DISTRICT COURT OF THE SOUTHERN DISTRICT OF NEW YORK, AND ANY   APPELLATE COURT FROM ANY THEREOF, AND EACH OF THE PARTIES HERETO   IRREVOCABLY AND UNCONDITIONALLY SUBMITS TO THE JURISDICTION OF SUCH   COURTS AND AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION, LITIGATION   OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE COURT   OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL   COURT.  EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH   ACTION, LITIGATION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED   IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN      ANY OTHER MANNER   PROVIDED BY LAW.NOTWITHSTANDING THE FOREGOING, EACH OF THE PARTIES AGREES   THAT (I) IF ALL SUCH NEW YORK COURTS DECLINE JURISDICTION OVER ANY PERSON, OR   DECLINE (OR IN THE CASE OF THE FEDERAL DISTRICT COURT, LACK) JURISDICTION OVER   ANY SUBJECT MATTER OF SUCH ACTION OR PROCEEDING, A LEGAL ACTION OR   PROCEEDING MAY BE BROUGHT WITH RESPECT THERETO IN ANOTHER COURT HAVING   JURISDICTION AND (II) IN THE EVENT A LEGAL ACTION OR PROCEEDING IS BROUGHT   AGAINST ANY PARTY HERETO OR INVOLVING ANY OF ITS ASSETS OR PROPERTY IN   ANOTHER COURT (WITHOUT ANY COLLUSIVE ASSISTANCE BY SUCH PARTY OR ANY OF   ITS SUBSIDIARIES OR AFFILIATES), NOTHING HEREIN SHALL PREVENT SUCH PARTY FROM   ASSERTING A CLAIM OR DEFENSE (INCLUDING ANY CLAIM OR DEFENSE THAT THIS   SECTION 11.14(B) WOULD OTHERWISE REQUIRE TO BE ASSERTED IN A LEGAL   PROCEEDING IN A NEW YORK COURT) IN ANY SUCH ACTION OR PROCEEDING.          (c)   WAIVER OF VENUE.  EACH PARTY HERETO HEREBY IRREVOCABLY AND   UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW,   ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF   ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR   ANY OTHER LOAN DOCUMENT IN ANY COURT REFERRED TO IN PARAGRAPH (B) OF THIS   SECTION.  EACH OF THE PARTIES HERETO 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.                                                134 

 

           (d)   SERVICE OF PROCESS.  EACH PARTY HERETO IRREVOCABLY CONSENTS TO   SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN SECTION 11.02.    NOTHING IN THIS AGREEMENT WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO   SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW.  WITHOUT   LIMITING THE FOREGOING, EACH DESIGNATED BORROWER HEREBY IRREVOCABLY   APPOINTS THE COMPANY AS ITS AUTHORIZED AGENT WITH ALL POWERS NECESSARY TO   RECEIVE ON ITS BEHALF SERVICE OF COPIES OF THE SUMMONS AND COMPLAINT AND   ANY OTHER PROCESS WHICH MAY BE SERVED IN ANY ACTION OR PROCEEDING ARISING   OUT OF OR RELATING TO THE LOAN DOCUMENTS IN ANY OF SUCH COURTS IN AND OF   THE STATE OF NEW YORK. SUCH SERVICE MAY BE MADE BY MAILING OR DELIVERING A   COPY OF SUCH PROCESS TO A DESIGNATED BORROWER IN CARE OF THE COMPANY AT   ITS ADDRESS FOR NOTICES PROVIDED FOR IN SECTION 11.02,  AND EACH DESIGNATED   BORROWER HEREBY IRREVOCABLY AUTHORIZES AND DIRECTS THE COMPANY TO   ACCEPT SUCH SERVICE ON ITS BEHALF AND AGREES THAT THE FAILURE OF THE   COMPANY TO GIVE ANY NOTICE OF ANY SUCH SERVICE TO SUCH DESIGNATED   BORROWER SHALL NOT IMPAIR OR AFFECT THE VALIDITY OF SUCH SERVICE OR OF ANY  JUDGMENT RENDERED IN ANY ACTION OR PROCEEDING BASED THEREON.  THE  COMPANY HEREBY IRREVOCABLY ACCEPTS SUCH APPOINTMENT AS PROCESS AGENT.          11.15 Waiver of Jury Trial.  EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES,  TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO  A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT  OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE  TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON  CONTRACT, TORT OR ANY OTHER THEORY).  EACH PARTY HERETO (A) CERTIFIES THAT  NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED,  EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF  LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT  IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS  AGREEMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE  MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.         11.16  No Advisory or Fiduciary Responsibility.  In connection with all aspects of each  transaction contemplated hereby (including in connection with any amendment, waiver or other  modification hereof or of any other Loan Document), the Company and each other Loan Party  acknowledges and agrees, and acknowledges its Affiliates’ understanding that:  (i) (A) the arranging and  other services regarding this Agreement provided by the Administrative Agent, the Lenders and the  Arrangers, are arm’s-length commercial transactions between each Loan Parties and their respective  Affiliates, on the one hand, and the Administrative Agent, the Lenders and the Arrangers, on the other hand,  (B) each Loan Party has consulted its own legal, accounting, regulatory and tax advisors to the extent it has  deemed appropriate, and (C) each Loan Party is capable of evaluating, and understands and accepts, the  terms, risks and conditions of the transactions contemplated hereby and by the other Loan Documents; (ii)  (A), the Administrative Agent, each Lender and each Arranger each is and has been acting solely as a  principal and, except as expressly agreed in writing by the relevant parties, has not been, is not, and will  not be acting as an advisor, agent or fiduciary for any Loan Party or any of its respective Affiliates or any  other Person and (B) neither the Administrative Agent nor any Lender nor any Arranger has any obligation  to any Loan Party or any of their respective Affiliates with respect to the transactions contemplated hereby  except those obligations expressly set forth herein and in the other Loan Documents; and (iii) the  Administrative Agent, each Lender and each Arranger and their respective Affiliates may be engaged in a  broad range of transactions that involve interests that differ from those of the Loan Parties and their                                              135 

 

    respective Affiliates, and neither the Administrative Agent nor any Lender nor any Arranger has any  obligation to disclose any of such interests to the Loan Parties or any of their respective Affiliates.  To the  fullest extent permitted by law, the Guarantor, the Company, and each other Loan Party, each hereby waives  and releases any claims that it may have against the Administrative Agent, the Lenders and the Arrangers  with respect to any breach or alleged breach of agency or fiduciary duty in connection with any aspect of  any transaction contemplated hereby.  Each Guarantor, Borrower, and other Loan Party agree that it will  not claim that the Administrative Agent, the Lenders or the Arrangers have rendered advisory services of  any nature or respect or owe a fiduciary or similar duty to any Guarantor, Borrower, or other Loan Party,  in connection with such transactions or the process leading thereto.          11.17 Electronic Execution of Assignments and Certain Other Documents.  The words  “execute,” “execution,” “signed,” “signature,” and words of like import in or related to any Loan Document  or any other document to be signed in connection with this Agreement and the transactions contemplated  hereby (including without limitation Assignment and Assumptions, amendments or other modifications,  Committed Loan Notices, Swing Line Loan Notices, waivers and consents) shall be deemed to include  electronic signatures, the electronic matching of assignment terms and contract formations on electronic  platforms approved by the Administrative Agent, or the keeping of records in electronic form, each of  which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical  delivery thereof or the use of a paper-based recordkeeping system, as the case may be, to the extent and as  provided for in any applicable law, including the Federal Electronic Signatures in Global and National  Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws  based on the Uniform Electronic Transactions Act; provided that notwithstanding anything contained herein   to the contrary neither the Administrative Agent, any L/C Issuer nor any Lender is under any obligation to   agree to accept electronic signatures in any form or in any format unless expressly agreed to by the   Administrative Agent, such L/C Issuer or such Lender pursuant to procedures approved by it and provided,   further, without limiting the foregoing, upon the request of any party, any electronic signature shall be   promptly followed by such manually executed counterpart.          11.18 USA PATRIOT Act.  Each Lender that is subject to the Act (as hereinafter defined) and  the Administrative Agent (for itself and not on behalf of any Lender) hereby notifies each Loan Party that  pursuant to the requirements of the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October  26, 2001)) (the “Act”), it is required to obtain, verify and record information that identifies each Loan Party,   which information includes the name and address of such Loan Party and other information that will allow   such Lender or the Administrative Agent, as applicable, to identify such Loan Party in accordance with the   Act.  Each Loan Party shall, promptly following a request by the Administrative Agent or any Lender,   provide all documentation and other information that the Administrative Agent or such Lender reasonably   requests in order to comply with its ongoing obligations under applicable “know your customer” and anti-  money laundering rules and regulations, including the Act and the Beneficial Ownership Regulation.          11.19 Judgment Currency.  If, for the purposes of obtaining judgment in any court, it is  necessary to convert a sum due hereunder or any other Loan Document in one currency into another  currency, the rate of exchange used shall be that at which in accordance with normal banking procedures  the Administrative Agent could purchase the first currency with such other currency on the Business Day  preceding that on which final judgment is given.  The obligation of each Borrower and each Guarantor in   respect of any such sum due from it to any Lender Party hereunder or under the other Loan Documents   shall, notwithstanding any judgment in a currency (the “Judgment Currency”) other than that in which such   sum is denominated in accordance with the applicable provisions of this Agreement (the “Agreement   Currency”), be discharged only to the extent that on the Business Day following receipt by such Lender   Party of any sum adjudged to be so due in the Judgment Currency, such Lender Party may in accordance   with normal banking procedures purchase the Agreement Currency with the Judgment Currency.  If the                                              136 

 

    amount of the Agreement Currency so purchased is less than the sum originally due to any Lender Party  from a Loan Party in the Agreement Currency, such Loan Party agrees, as a separate obligation and  notwithstanding any such judgment, to indemnify such Lender Party against such loss.  If the amount of  the Agreement Currency so purchased is greater than the sum originally due to any Lender Party in such  currency, such Lender Party agrees to return the amount of any excess to the Company (or to any other  Person who may be entitled thereto under applicable law).          11.20 Acknowledgement and Consent to Bail-In of  EEAAffected Financial Institutions.    Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement   or understanding among any such parties, each party hereto acknowledges that any liability of any Lender   that is an EEAAffected Financial Institution arising under any Loan Document, to the extent such liability   is unsecured, may be subject to the write-down and conversion powers of an EEAthe applicable Resolution   Authority and agrees and consents to, and acknowledges and agrees to be bound by:          (a)   the application of any Write-Down and Conversion Powers by an EEAthe applicable   Resolution Authority to any such liabilities arising hereunder which may be payable to it by any Lender   that is an EEAAffected Financial Institution; and          (b)   the effects of any Bail-inBail-In Action on any such liability, including, if applicable:                (i)   a reduction in full or in part or cancellation of any such liability;                (ii) a conversion of all, or a portion of, such liability into shares or other instruments        of ownership in such EEAAffected Financial Institution, its parent undertaking, or a bridge         institution that may be issued to it or otherwise conferred on it, and that such shares or other         instruments of ownership will be accepted by it in lieu of any rights with respect to any such liability         under this Agreement or any other Loan Document; or                (iii) the variation of the terms of such liability in connection with the exercise of the        write-down and conversion powers of any EEAthe applicable Resolution Authority.          11.21 ENTIRE AGREEMENT.  THIS AGREEMENT AND THE OTHER LOAN  DOCUMENTS REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES AND MAY  NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR  SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.  THERE ARE NO UNWRITTEN  ORAL AGREEMENTS AMONG THE PARTIES.          11.22 Acknowledgement Regarding Any Supported QFCs.  To the extent that the Loan   Documents provide support, through a guarantee or otherwise, for any Swap Contract or any other   agreement or instrument that is a QFC (such support, “QFC Credit Support”, and each such QFC, a   “Supported QFC”), the parties acknowledge and agree as follows with respect to the resolution power of   the Federal Deposit Insurance Corporation under the Federal Deposit Insurance Act and Title II of the   Dodd-Frank Wall Street Reform and Consumer Protection Act (together with the regulations promulgated   thereunder, the “U.S. Special Resolution Regimes”) in respect of such Supported QFC and QFC Credit   Support (with the provisions below applicable notwithstanding that the Loan Documents and any Supported   QFC may in fact be stated to be governed by the laws of the State of New York and/or of the United States   or any other state of the United States):          (a)   In the event a Covered Entity that is party to a Supported QFC (each, a “Covered Party”)   becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer of such Supported                                              137 

 

   QFC and the benefit of such QFC Credit Support (and any interest and obligation in or under such Supported  QFC and such QFC Credit Support, and any rights in property securing such Supported QFC or such QFC  Credit Support) from such Covered Party will be effective to the same extent as the transfer would be  effective under the U.S. Special Resolution Regime if the Supported QFC and such QFC Credit Support  (and any such interest, obligation and rights in property) were governed by the laws of the United States or  a state of the United States. In the event a Covered Party or a BHC Act Affiliate of a Covered Party becomes  subject to a proceeding under a U.S. Special Resolution Regime, Default Rights under the Loan Documents  that might otherwise apply to such Supported QFC or any QFC Credit Support that may be exercised against  such Covered Party are permitted to be exercised to no greater extent than such Default Rights could be  exercised under the U.S. Special Resolution Regime if the Supported QFC and the Loan Documents were  governed by the laws of the United States or a state of the United States. Without limitation of the foregoing,  it is understood and agreed that rights and remedies of the parties with respect to a Defaulting Lender shall  in no event affect the rights of any Covered Party with respect to a Supported QFC or any QFC Credit  Support.         (b)   As used in this Section 11.22, the following terms have the following meanings:                     “BHC Act Affiliate” of a party means an “affiliate” (as such term is defined under,              and interpreted in accordance with, 12 U.S.C. 1841(k)) of such party.                     “Covered Entity” means any of the following:  (i) a “covered entity” as that term              is defined in, and interpreted in accordance with, 12 C.F.R. § 252.82(b); (ii) a “covered              bank” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 47.3(b);              or (iii) a “covered FSI” as that term is defined in, and interpreted in accordance with, 12              C.F.R. § 382.2(b).                     “Default Right” has the meaning assigned to that term in, and shall be interpreted              in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable.                     “QFC” has the meaning assigned to the term “qualified financial contract” in, and              shall be interpreted in accordance with, 12 U.S.C. 5390(c)(8)(D).                         [Signature pages followintentionally omitted.]                                             138Exhibit

Exhibit 10.1

AMENDMENT NO. 6 TO MASTER LEASE AND SECURITY AGREEMENT
(2020/2021 Capital Expenditure Projects)

THIS AMENDMENT NO. 6 TO MASTER LEASE AND SECURITY AGREEMENT (hereinafter, this “Amendment”) is to be effective as of March 4, 2020 (the “Amendment Date”), by and between each of the signatories hereto identified as Landlord (individually and collectively, “Landlord”), and each of the signatories hereto identified as Tenant (individually and collectively, “Tenant”).
RECITALS
A.Landlord and Tenant are parties to that certain Master Lease and Security Agreement dated as of April 26, 2018, as amended by that certain Amendment No. 1 to Master Lease and Security Agreement effective as of September 1, 2018, that certain Amendment No. 2 to Master Lease and Security Agreement dated as of April 22, 2019, that certain Amendment No. 3 to Master Lease and Security Agreement dated as of May 1, 2019, that certain Amendment No. 4 to Master Lease and Security Agreement dated as of September 26, 2019 and that certain Amendment No. 5 to Master Lease and Security Agreement dated as of December 9, 2019 (as the same has been amended and as it may be hereafter amended, amended and restated, supplemented, replaced or extended from time to time, the “Master Lease”); and
B.Tenant has requested that Landlord provide up to an aggregate maximum of $37,800,000 of Landlord UE Funds pursuant to the provisions of Section 6.3.5 of the Master Lease (the “Requested Landlord UE Funds”) for those certain Upgrade Expenditures described on Exhibit A attached hereto (the “Subject Projects”); and
C.Landlord is willing to provide the Requested Landlord UE Funds pursuant to the terms of this Amendment; and
D.Landlord and Tenant wish to amend the Master Lease as set forth herein.  
      NOW, THEREFORE, in consideration of the foregoing Recitals, which by this reference are incorporated herein, and of other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Landlord and Tenant agree as follows:
1.Capitalized Terms.  All capitalized terms used herein and not defined herein shall have the meanings ascribed thereto in the Master Lease. 
2.    Amendments to Lease.  
2.1.    Requests for Disbursement.  Tenant shall submit each request for disbursement of the Requested Landlord UE Funds by delivery to Landlord of written notice of such request on the form attached hereto as Exhibit B (the “Request Form”).  Tenant may request 

disbursement of Requested Landlord UE Funds no more than one time per calendar month and in amounts of not less than $50,000.  Tenant may not request disbursement of the Requested Landlord UE Funds later than December 14, 2020; provided, however, that (i) up to $2,500,000 of the Requested Landlord UE Funds may be requested after December 14, 2020 but no later than March 14, 2021, and (ii) up to $5,000,000 of the Requested Landlord UE Funds may be requested after December 14, 2020, but no later than June 14, 2021. Tenant shall notify Landlord as soon as reasonably practicable of the amount (if any) of Requested Landlord UE Funds that Tenant expects to request after December 14, 2020 and the Subject Projects to which such Requested Landlord UE Funds relate.
2.2.    Additional Information and Requirements.  Notwithstanding anything to the contrary contained in the Master Lease, Landlord shall promptly fund to Tenant the amounts indicated in the Request Form, provided that (i) at the time of delivery of the Request Form, no Master Lease Event of Default or Facility Default relating to the Facility that is the subject of the request has occurred and is continuing and (ii) Tenant delivers to Landlord the invoices, proof of payment, and, for any work in excess of $10,000, lien waivers, in each case relating to the applicable Upgrade Expenditures described on Exhibit A. Tenant shall promptly provide such additional information as Landlord may reasonably request in connection with any such request for disbursement, but provision of such information shall not be a condition to disbursement. 
2.3.    Changes to Proposed Projects.  This Section 2.3 shall apply solely for the purposes of determining whether Landlord will make Requested Landlord UE Funds available for the Subject Projects and shall not give rise to, or result in, any default, Master Lease Event of Default, or Facility Default.  Tenant shall promptly notify Landlord of any proposed change in the scope or nature of any Subject Project from the description of such Subject Project set forth on Exhibit A, as applicable, and Tenant acknowledges and agrees that no Material Change shall be permitted without Landlord’s consent (regardless of whether Tenant is required to obtain Landlord’s consent to such change pursuant to the terms of the Master Lease), and Material Changes will only be considered by Landlord if Tenant has demonstrated to Landlord’s reasonable satisfaction actual Cost Savings with respect to other Subject Projects that, in the aggregate, would offset any increased cost associated with such Material Change.  Any right of Landlord to withhold consent to a Material Change pursuant to the terms of the Master Lease for reasons other than an increase in the cost of the Subject Project shall not be deemed to have been modified by the terms of this Section 2.3.  “Material Change” shall mean a change in the scope or nature of a proposed project that is expected to result in (i) cost increases that exceed the amount shown on Exhibit A, as applicable, for a Subject Project by $250,000 or more or (ii) any change in the nature of the Subject Project such that the description of the Subject Project materially deviates from the description provided in Exhibit A. “Cost Savings” shall mean a reduction in the actual cost of a Subject Project below the amount shown on Exhibit A, for such Subject Project by way of efficiencies or reductions in scope of such Subject Project. 
3.    Failure to Spend the Landlord Threshold. If, for calendar year 2020 or 2021, the total Facility Actual Upgrade Expenditures Amount for all Facilities, in the aggregate, booked for such calendar year is less than the aggregate Landlord Funding Threshold for all Facilities for such calendar year, each as equitably adjusted pro rata to account for any change in the number of Facilities 

and/or Units during such calendar year (the positive value of any such difference, the “Landlord Funding Threshold Shortfall”), then:
3.1.    Within 10 business days following Landlord’s written demand therefor, Tenant shall pay to Landlord an amount equal to the lesser of (i) the Landlord Funding Threshold Shortfall and (ii) the total amount of Requested Landlord UE Funds booked for such calendar year and funded by Landlord (such lesser amount, the “Landlord UE Funds Refund Amount”); and
3.2.    Upon receipt by Landlord of the Landlord UE Funds Refund Amount pursuant to Section 3.1, and without further action of the parties:
3.2.1.    Annual Minimum Rent shall decrease by an amount equal to the Landlord Funds Rent Increase attributable to such Landlord UE Funds Refund Amount, as such Landlord Funds Rent Increase may have increased pursuant to Section 6.5.8.3 of the Master Lease (the “Landlord UE Funds Refund Rent Decrease”); 
3.2.2.    Schedule 1 to the Master Lease shall be deemed revised as follows:  (a) the amount of the Landlord UE Funds Refund Rent Decrease shall be allocated to each of the Facilities with respect to which Landlord funded Requested Landlord UE Funds during the applicable calendar year in proportion to the amount funded and (b) following that allocation, the Proportionate Share percentage for each Facility shall be revised to equal the percentage obtained by dividing the annual Minimum Rent allocated to that Facility (as adjusted under this Section 3.2.2, if applicable) by the aggregate annual Minimum Rent for the Premises (as adjusted under this Section 3.2.2).
3.2.3.    For purposes of determining the total Facility Actual Upgrade Expenditures Amount pursuant to Section 3 only, references to “Upgrade Expenditures Test Period” in the definition of “Facility Actual Upgrade Expenditures Amount” shall be deemed to refer to the applicable calendar year. 
3.3.    Status Reports Regarding Subject Projects and Landlord Funding Threshold.  Included with each draw request and in any event no later than 30 days after the end of each calendar quarter of 2020 and 2021 (if Requested Landlord UE Finds are requested in 2021 pursuant to the terms of this Amendment), Tenant shall deliver, on a quarterly and year-to-date basis, the following:
3.3.1.    A report of the Subject Projects detailing actual amounts invoiced and paid versus the budgeted amounts on Exhibit A and the quarterly expectations for future amounts to be incurred and the current status of the Subject Projects. Such reporting shall include a total of estimated Cost Savings for each Subject Project (if any), and the total and estimated amount of Requested Landlord UE Funds expended to date and through completion of such Subject Project.
3.3.2.    A Facility-by-Facility and project-by-project report of actual amounts invoiced and paid for Upgrade Expenditures that are not related to Subject Projects.
4.    Miscellaneous.

4.1.    Consistency.  For the avoidance of doubt, the terms of this Amendment relate only to the Subject Projects and calendar year 2020 (subject to the right of Tenant to request a limited amount of the Requested Landlord UE Funds in 2021 pursuant to the terms of this Amendment) and shall not serve to establish a course of dealing or amend or modify the terms and conditions of the Master Lease for future periods.  
4.2.    Integrated Agreement; Modifications; Waivers.  This Amendment, and the Master Lease as amended hereby, constitute the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes any and all prior representations, understandings and agreements, whether written or oral, with respect to such subject matter.  Each of the parties hereto acknowledges that it has not relied upon, in entering into this Amendment, any representation, warranty, promise or condition not specifically set forth in this Amendment.  
4.3.    Sealed Writing.  The parties acknowledge and agree that the Master Lease, as amended by this Amendment, is intended to be a sealed instrument and to comply with Virginia Code Sections 55-2 and 11-3, and shall be interpreted as if the words “this deed of Lease” were included in the body of the Master Lease.
4.4.    Effect of Amendment.  Except as expressly modified in this Amendment, the Master Lease shall remain in full force and effect and is expressly ratified and confirmed by the parties hereto, and Tenant shall lease the Facilities (as modified by this Amendment) from Landlord on the terms set forth in the Master Lease (as modified by this Amendment).  In the event of any inconsistencies between the terms of this Amendment and any terms of the Master Lease with respect to the subject matter hereof, the terms of this Amendment shall control.
4.5.    Counterparts.  This Amendment may be executed and delivered (including by facsimile or Portable Document Format (pdf) transmission) in counterparts, all of which executed counterparts shall together constitute a single document. Signature pages may be detached from the counterparts and attached to a single copy of this document to physically form one document. Any such facsimile documents and signatures shall have the same force and effect as manually-signed originals and shall be binding on the parties hereto.
IN WITNESS WHEREOF, this Amendment has been executed by Landlord and Tenant as of the date first written above.

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	TENANT:

	
	
	BLC-THE HALLMARK, LLC, a Delaware limited liability company

By: /s/ Eric W. Hoaglund               

Name: Eric W. Hoaglund               

Title: Vice President                       

	BLC-KENWOOD OF LAKE VIEW, LLC, a Delaware limited liability company

By: /s/ Eric W. Hoaglund               

Name: Eric W. Hoaglund               

Title: Vice President                       

	BROOKDALE SENIOR LIVING COMMUNITIES, INC. a Delaware corporation (f/k/a Alterra Healthcare Corporation and Alternative Living Services, Inc.)

By: /s/ Eric W. Hoaglund               

Name: Eric W. Hoaglund               

Title: Vice President                       

[signature pages continue]

ACKNOWLEDGEMENT

STATE OF     Wisconsin        )
)  :ss.:
COUNTY OF     Milwaukee        )

Before me, the undersigned, a Notary Public in and for said County and State, personally appeared Brookdale Senior Living Communities, Inc., a Delaware corporation (“Company”), by Eric Hoaglund, its V.P., which Company executed the foregoing instrument, who acknowledged that she/he did sign the foregoing instrument for and on behalf of the Company, being thereunto duly authorized and that the same is her/his free act and deed individually and in said capacity and the free and deed of the Company.

IN TESTIMONY WHEREOF, I have hereunto set my hand and official seal at Milwaukee, WI, this 5th day of March, 2020. 

(SEAL)                      /s/ Sharon E. Plunkatt-Wuerger        
Notary Public

Print Name:    Sharon E. Plunkatt-Wuerger    
My commission expires:    April 20, 2020    
Acting in the County of:    Milwaukee    

	
	
	BLC-GABLES AT FARMINGTON, LLC, a Delaware limited liability company

By:  /s/ Eric W. Hoaglund              
Name:  Eric W. Hoaglund               
Title:  Vice President                      

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	BLC-DEVONSHIRE OF HOFFMAN ESTATES, LLC, a Delaware limited liability company

By:  /s/ Eric W. Hoaglund              

Name:  Eric W. Hoaglund               

Title:  Vice President                      

	BLC-SPRINGS AT EAST MESA, LLC, a Delaware limited liability company

By:  /s/ Eric W. Hoaglund              

Name:  Eric W. Hoaglund               

Title:  Vice President                      

	BLC-RIVER BAY CLUB, LLC, a Delaware limited liability company

By:  /s/ Eric W. Hoaglund              

Name:  Eric W. Hoaglund               

Title:  Vice President                      

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	BLC-WOODSIDE TERRACE, L.P., a Delaware limited partnership

By:    BLC-Woodside Terrace, LLC, a Delaware limited liability company, its general partner

By:  /s/ Eric W. Hoaglund              

Name:  Eric W. Hoaglund               

Title:  Vice President                      

BLC-ATRIUM AT SAN JOSE, L.P., a Delaware limited partnership

By:     BLC-Atrium at San Jose, LLC, a Delaware limited liability company, its general partner

By:  /s/ Eric W. Hoaglund              

Name:  Eric W. Hoaglund               

Title:  Vice President                      

	BLC-BROOKDALE PLACE OF SAN MARCOS, L.P., a Delaware limited partnership

By:    BLC-Brookdale Place of San Marcos, LLC, a Delaware limited liability company, its general partner

By:  /s/ Eric W. Hoaglund              

Name:  Eric W. Hoaglund               

Title:  Vice President                      

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	BLC-PONCE DE LEON, LLC, a Delaware limited liability company

By:  /s/ Eric W. Hoaglund              

Name:  Eric W. Hoaglund               

Title:  Vice President                      

	BLC-PARK PLACE, LLC, a Delaware limited liability company

By:  /s/ Eric W. Hoaglund              

Name:  Eric W. Hoaglund               

Title:  Vice President                      

	BLC-HAWTHORNE LAKES, LLC, a Delaware limited liability company

By:  /s/ Eric W. Hoaglund              

Name:  Eric W. Hoaglund               

Title:  Vice President                      

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	BLC-THE WILLOWS, LLC, a Delaware limited liability company

By:  /s/ Eric W. Hoaglund              

Name:  Eric W. Hoaglund               

Title:  Vice President                      

	BLC-BRENDENWOOD, LLC, a Delaware limited liability company

By:  /s/ Eric W. Hoaglund              

Name:  Eric W. Hoaglund               

Title:  Vice President                      

	BLC-CHATFIELD, LLC, a Delaware limited liability company

By:  /s/ Eric W. Hoaglund              

Name:  Eric W. Hoaglund               

Title:  Vice President                      

	BROOKDALE LIVING COMMUNITIES OF FLORIDA, INC. a Delaware corporation 

By:  /s/ Eric W. Hoaglund              

Name:  Eric W. Hoaglund               

Title:  Vice President                      

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	BROOKDALE LIVING COMMUNITIES OF ILLINOIS-DNC, LLC, a Delaware limited liability company

By:  /s/ Eric W. Hoaglund              

Name:  Eric W. Hoaglund               

Title:  Vice President                      

	BROOKDALE LIVING COMMUNITIES OF ILLINOIS-GV, LLC, a Delaware limited liability company

By:  /s/ Eric W. Hoaglund              

Name:  Eric W. Hoaglund               

Title:  Vice President                      

	SW ASSISTED LIVING, LLC, a Delaware limited liability company

By:  /s/ Eric W. Hoaglund              

Name:  Eric W. Hoaglund               

Title:  Vice President                      

	SUMMERVILLE AT FAIRWOOD MANOR, LLC, a Delaware limited liability company

By:  /s/ Eric W. Hoaglund              

Name:  Eric W. Hoaglund               

Title:  Vice President                      

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	SUMMERVILLE AT HERITAGE PLACE, LLC, a Delaware limited liability company

By:  /s/ Eric W. Hoaglund              

Name:  Eric W. Hoaglund               

Title:  Vice President                      

	SUMMERVILLE 5 LLC, a Delaware limited liability company

By:  /s/ Eric W. Hoaglund              

Name:  Eric W. Hoaglund               

Title:  Vice President                      

	SUMMERVILLE 4 LLC, a Delaware limited liability company

By:  /s/ Eric W. Hoaglund              

Name:  Eric W. Hoaglund               

Title:  Vice President                      

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	SUMMERVILLE 14 LLC, a Delaware limited liability company

By:  /s/ Eric W. Hoaglund              

Name:  Eric W. Hoaglund               

Title:  Vice President                      

SUMMERVILLE 15 LLC, a Delaware limited liability company

By:  /s/ Eric W. Hoaglund              

Name:  Eric W. Hoaglund               

Title:  Vice President                      

SUMMERVILLE 16 LLC, a Delaware limited liability company

By:  /s/ Eric W. Hoaglund              

Name:  Eric W. Hoaglund               

Title:  Vice President                      

SUMMERVILLE 17 LLC, a Delaware limited liability company

By:  /s/ Eric W. Hoaglund              

Name:  Eric W. Hoaglund               

Title:  Vice President                      

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	SUMMERVILLE AT RIDGEWOOD GARDENS LLC, a Delaware limited liability company

By: /s/ Eric W. Hoaglund               

Name: Eric W. Hoaglund               
Title: Vice President                       

	ALS PROPERTIES TENANT I, LLC, 
a Delaware limited liability company

By: /s/ Eric W. Hoaglund               

Name: Eric W. Hoaglund               
Title: Vice President                       

ACKNOWLEDGEMENT

STATE OF     Wisconsin        )
)  :ss.:
COUNTY OF     Milwaukee        )

Before me, the undersigned, a Notary Public in and for said County and State, personally appeared ALS Properties Tenant I, LLC, a Delaware limited liability company (“Company”), by Eric Hoaglund, its V.P., which Company executed the foregoing instrument, who acknowledged that she/he did sign the foregoing instrument for and on behalf of the Company, being thereunto duly authorized and that the same is her/his free act and deed individually and in said capacity and the free and deed of the Company.

IN TESTIMONY WHEREOF, I have hereunto set my hand and official seal at Milwaukee, WI, this 5th day of March, 2020. 

(SEAL)                      /s/ Sharon E. Plunkatt-Wuerger        
Notary Public

Print Name:    Sharon E. Plunkatt-Wuerger    
My commission expires:    April 20, 2020    
Acting in the County of:    Milwaukee    

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	ALS PROPERTIES TENANT II, LLC, a Delaware limited liability company

By: /s/ Eric W. Hoaglund               

Name: Eric W. Hoaglund               
Title: Vice President                       

	ALS LEASING, INC., a Delaware corporation 

By: /s/ Eric W. Hoaglund               

Name: Eric W. Hoaglund               
Title: Vice President                       

ACKNOWLEDGEMENT

STATE OF     Wisconsin        )
)  :ss.:
COUNTY OF     Milwaukee        )

Before me, the undersigned, a Notary Public in and for said County and State, personally appeared ALS Leasing, Inc., a Delaware corporation (“Company”), by Eric Hoaglund, its V.P., which Company executed the foregoing instrument, who acknowledged that she/he did sign the foregoing instrument for and on behalf of the Company, being thereunto duly authorized and that the same is her/his free act and deed individually and in said capacity and the free and deed of the Company.

IN TESTIMONY WHEREOF, I have hereunto set my hand and official seal at Milwaukee, WI, this 5th day of March, 2020. 

(SEAL)                      /s/ Sharon E. Plunkatt-Wuerger        
Notary Public

Print Name:    Sharon E. Plunkatt-Wuerger    
My commission expires:    April 20, 2020    
Acting in the County of:    Milwaukee    

[signature pages continue]

	
	
	ASSISTED LIVING PROPERTIES, INC., a Kansas corporation 

By: /s/ Eric W. Hoaglund               

Name: Eric W. Hoaglund               
Title: Vice President                       

	BLC-THE HALLMARK, LLC, A DELAWARE LIMITED LIABILITY COMPANY

By: /s/ Eric W. Hoaglund               

Name: Eric W. Hoaglund               
Title: Vice President                       

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	LANDLORD:
	 

	VENTAS REALTY, LIMITED PARTNERSHIP, a Delaware limited partnership
By: Ventas, Inc., a Delaware corporation, its general partner

By:  /s/ Christian N. Cummings             
Name:  Christian N. Cummings             
Title:  Senior Vice President                   

	 

	 
	PSLT-ALS PROPERTIES I, LLC, a Delaware limited liability company 
By: PSLT-ALS Properties Holdings, LLC, its sole member
By: PSLT OP, L.P., its sole member
By: PSLT GP, LLC, its general partner
By: Ventas Provident, LLC, its sole member

By:  /s/ Christian N. Cummings             
Name:  Christian N. Cummings             
Title:  President                                      

[signature pages continue]

ACKNOWLEDGEMENT

STATE OF     Illinois            )
)  :ss.:
COUNTY OF      Cook            )

Before me, the undersigned, a Notary Public in and for said County and State, personally appeared Ventas Provident, LLC, a Delaware limited liability company (“Company”), the sole member of PSLT GP, LLC, the general partner of PSLT OP, L.P., the sole member of PSLT-ALS Properties Holdings, LLC, the sole member of PSLT-ALS Properties I, LLC, by Christian N. Cummings, its President, which Company executed the foregoing instrument, who acknowledged that she/he did sign the foregoing instrument for and on behalf of the Company, being thereunto duly authorized and that the same is her/his free act and deed individually and in said capacity and the free and deed of the Company.

IN TESTIMONY WHEREOF, I have hereunto set my hand and official seal at Chicago, Illinois, this 4th day of March, 2020. 

(SEAL)                      /s/ Theresa M. Kwasinski            
Notary Public

Print Name:    Theresa M. Kwasinski    
My commission expires:    8/5/22        
Acting in the County of:    Cook        

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	PSLT-ALS PROPERTIES II, LLC, a Delaware limited liability company
By: PSLT-ALS Properties Holdings, LLC, its sole member
By: PSLT OP, L.P., its sole member
By: PSLT GP, LLC, its general partner
By: Ventas Provident, LLC, its sole member

By:  /s/ Christian N. Cummings              
Name:  Christian N. Cummings             
Title:  President                                       

	 

	 
	PSLT-ALS PROPERTIES IV, LLC, a Delaware limited liability company

By:  /s/ Christian N. Cummings              
Name:  Christian N. Cummings             
Title:  President                                       

	 

	 
	PSLT-ALS PROPERTIES III, LLC, a Delaware limited liability company

By:  /s/ Christian N. Cummings              
Name:  Christian N. Cummings             
Title:  President                                       
[signature pages continue]
	 

ACKNOWLEDGEMENT

STATE OF     Illinois            )

)  :ss.:
COUNTY OF      Cook            )

Before me, the undersigned, a Notary Public in and for said County and State, personally appeared PSLT-ALS PROPERTIES III, LLC, a Delaware limited liability company (“Company”), which Company executed the foregoing instrument, who acknowledged that she/he did sign the foregoing instrument for and on behalf of the Company, being thereunto duly authorized and that the same is her/his free act and deed individually and in said capacity and the free and deed of the Company.

IN TESTIMONY WHEREOF, I have hereunto set my hand and official seal at Chicago, Illinois, this 4th day of March, 2020. 

(SEAL)                      /s/ Theresa M. Kwasinski            
Notary Public

Print Name:    Theresa M. Kwasinski    
My commission expires:    8/5/22        
Acting in the County of:    Cook        

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	BROOKDALE LIVING COMMUNITIES OF ILLINOIS-2960, LLC, a Delaware limited liability company
By: PSLT-BLC Properties Holdings, LLC, its sole member
By: PSLT OP, L.P., its sole member
By: PSLT GP, LLC, its general partner
By: Ventas Provident, LLC, its sole member

By:  /s/ Christian N. Cummings              
Name:  Christian N. Cummings             
Title:  President                                       

	BROOKDALE LIVING COMMUNITIES OF ILLINOIS-HV, LLC, a Delaware limited liability company
By: PSLT-BLC Properties Holdings, LLC, its sole member
By: PSLT OP, L.P., its sole member
By PSLT GP, LLC, its general partner
By Ventas Provident, LLC, its sole member

By:  /s/ Christian N. Cummings              
Name:  Christian N. Cummings             
Title:  President                                       
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	RIVER OAKS PARTNERS, an Illinois general partnership
By: Brookdale Holdings, LLC, its managing partner
By: PSLT-BLC Properties Holdings, LLC, its sole member
By: PSLT OP, L.P., its sole member
By: PSLT GP, LLC, its general partner
By: Ventas Provident, LLC, its sole member

By:  /s/ Christian N. Cummings              
Name:  Christian N. Cummings             
Title:  President                                       

	BROOKDALE LIVING COMMUNITIES OF CONNECTICUT, LLC, a Delaware limited liability company

By:  /s/ Christian N. Cummings              
Name:  Christian N. Cummings             
Title:  President                                       

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	PSLT-BLC PROPERTIES HOLDINGS, LLC, a Delaware limited liability company
By: PSLT OP, L.P., its sole member 
By: PSLT GP, LLC, its general partner
By: Ventas Provident, LLC, its sole member

By:  /s/ Christian N. Cummings              
Name:  Christian N. Cummings             
Title:  President                                       

	THE PONDS OF PEMBROKE LIMITED PARTNERSHIP, an Illinois general partnership
By: Brookdale Holdings, LLC, its general partner
By: PSLT-BLC Properties Holdings, LLC, its sole member
By: PSLT OP, L.P., its sole member
By: PSLT GP, LLC, its general partner
By: Ventas Provident, LLC, its sole member

By:  /s/ Christian N. Cummings              
Name:  Christian N. Cummings             
Title:  President                                       

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	BROOKDALE LIVING COMMUNITIES OF ARIZONA-EM, LLC, a Delaware limited liability company
By: PSLT-BLC Properties Holdings, LLC, its sole member 
By: PSLT OP, L.P., its sole member
By: PSLT GP, LLC, its general partner
By: Ventas Provident, LLC, its sole member

By:  /s/ Christian N. Cummings              
Name:  Christian N. Cummings             
Title:  President                                       

	BROOKDALE LIVING COMMUNITIES OF MASSACHUSETTS-RB, LLC, a Delaware limited liability company
By: PSLT-BLC Properties Holdings, LLC, its sole member
By: PSLT OP, L.P., its sole member
By: PSLT GP, LLC, its general partner
By: Ventas Provident, LLC, its sole member

By:  /s/ Christian N. Cummings              
Name:  Christian N. Cummings             
Title:  President                                       

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	BROOKDALE LIVING COMMUNITIES OF CALIFORNIA-RC, LLC, a Delaware limited liability company
By: PSLT-BLC Properties Holdings, LLC, its sole member 
By: PSLT OP, L.P., its sole member
By: PSLT GP, LLC, its general partner
By: Ventas Provident, LLC, its sole member

By:  /s/ Christian N. Cummings              
Name:  Christian N. Cummings             
Title:  President                                       

	BROOKDALE LIVING COMMUNITIES OF CALIFORNIA, LLC, a Delaware limited liability company
By: PSLT-BLC Properties Holdings, LLC, its sole member
By: PSLT OP, L.P., its sole member
By: PSLT GP, LLC, its general partner
By: Ventas Provident, LLC, its sole member

By:  /s/ Christian N. Cummings              
Name:  Christian N. Cummings             
Title:  President                                       
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	BLC OF CALIFORNIA-SAN MARCOS, L.P., a Delaware limited partnership
By: Brookdale Living Communities of California-San Marcos, LLC, its general partner
By: PSLT-BLC Properties Holdings, LLC, its sole member
By: PSLT OP, L.P., its sole member
By: PSLT GP, LLC, its general partner
By: Ventas Provident, LLC, its sole member
By:  /s/ Christian N. Cummings              
Name:  Christian N. Cummings             
Title:  President                                       

	BROOKDALE LIVING COMMUNITIES OF WASHINGTON-PP, LLC, a Delaware limited liability company
By: PSLT-BLC Properties Holdings, LLC, its sole member
By: PSLT OP, L.P., its sole member
By: PSLT GP, LLC, its general partner
By: Ventas Provident, LLC, its sole member

By:  /s/ Christian N. Cummings              
Name:  Christian N. Cummings             
Title:  President                                       

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	BROOKDALE LIVING COMMUNITIES OF ILLINOIS-II, LLC, a Delaware limited liability company
By: PSLT-BLC Properties Holdings, LLC, its sole member
By: PSLT OP, L.P., its sole member
By: PSLT GP, LLC, its general partner
By: Ventas Provident, LLC, its sole member

By:  /s/ Christian N. Cummings              
Name:  Christian N. Cummings             
Title:  President                                       

	BROOKDALE LIVING COMMUNITIES OF NEW JERSEY, LLC, a Delaware limited liability company
By: PSLT-BLC Properties Holdings, LLC, its sole member
By: PSLT OP, L.P., its sole member
By: PSLT GP, LLC, its general partner
Ventas Provident, LLC, its sole member

By:  /s/ Christian N. Cummings              
Name:  Christian N. Cummings             
Title:  President                                       

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	BROOKDALE LIVING COMMUNITIES OF FLORIDA-CL, LLC, a Delaware limited liability company
By: PSLT-BLC Properties Holdings, LLC, its sole member
By: PSLT OP, L.P., its sole member
By: PSLT GP, LLC, its general partner
Ventas Provident, LLC, its sole member

By:  /s/ Christian N. Cummings              
Name:  Christian N. Cummings             
Title:  President                                       

	
	
	NATIONWIDE HEALTH PROPERTIES, LLC, a Delaware limited liability company

By:  /s/ Christian N. Cummings              
Name:  Christian N. Cummings             
Title:  President                                       

[signature pages continue]

ACKNOWLEDGEMENT

STATE OF     Illinois            )
)  :ss.:
COUNTY OF      Cook            )

Before me, the undersigned, a Notary Public in and for said County and State, personally appeared Nationwide Health Properties, LLC, a Delaware limited liability corporation (“Company”), by Christian N. Cummings, its President, which Company executed the foregoing instrument, who acknowledged that she/he did sign the foregoing instrument for and on behalf of the Company, being thereunto duly authorized and that the same is her/his free act and deed individually and in said capacity and the free and deed of the Company.

IN TESTIMONY WHEREOF, I have hereunto set my hand and official seal at Chicago, Illinois, this 4th day of March, 2020. 

(SEAL)                      /s/ Theresa M. Kwasinski            
Notary Public

Print Name:    Theresa M. Kwasinski    
My commission expires:    8/5/22        
Acting in the County of:    Cook        

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	2010 UNION LIMITED PARTNERSHIP, a Washington limited partnership
By: Nationwide Health Properties, LLC, its general partner

By:  /s/ Christian N. Cummings              
Name:  Christian N. Cummings             
Title:  President                                       

	NH TEXAS PROPERTIES LIMITED PARTNERSHIP, a Texas limited partnership
By: MLD Texas Corporation, its general partner

By:  /s/ Christian N. Cummings              
Name:  Christian N. Cummings             
Title:  President                                       

	MLD PROPERTIES, INC., a Delaware corporation

By:  /s/ Christian N. Cummings              
Name:  Christian N. Cummings             
Title:  President                                       
[signature pages continue]

	
	
	JER/NHP SENIOR LIVING ACQUISITION, LLC, a Delaware limited liability company

By:  /s/ Christian N. Cummings              
Name:  Christian N. Cummings             
Title:  President                                       

ACKNOWLEDGEMENT

STATE OF     Illinois            )
)  :ss.:
COUNTY OF      Cook            )

Before me, the undersigned, a Notary Public in and for said County and State, personally appeared JER/NHP Senior Living Acquisition, LLC, a Delaware limited liability company (“Company”), by Christian N. Cummings, its President, which Company executed the foregoing instrument, who acknowledged that she/he did sign the foregoing instrument for and on behalf of the Company, being thereunto duly authorized and that the same is her/his free act and deed individually and in said capacity and the free and deed of the Company.

IN TESTIMONY WHEREOF, I have hereunto set my hand and official seal at Chicago, Illinois, this 4th day of March, 2020. 

(SEAL)                      /s/ Theresa M. Kwasinski            
Notary Public

Print Name:    Theresa M. Kwasinski    
My commission expires:    8/5/22        
Acting in the County of:    Cook        

[signature pages continue]

	
	
	JER/NHP SENIOR LIVING KANSAS, INC., a Kansas corporation

By:  /s/ Christian N. Cummings              
Name:  Christian N. Cummings             
Title:  President                                       

	JER/NHP SENIOR LIVING TEXAS, L.P., a Texas limited partnership
By: JER/NHP Management Texas, LLC, its general partner

By:  /s/ Christian N. Cummings              
Name:  Christian N. Cummings             
Title:  President                                       

	MLD PROPERTIES LIMITED PARTNERSHIP, a Delaware limited partnership
By: MLD Properties II, Inc., its general partner

By:  /s/ Christian N. Cummings              
Name:  Christian N. Cummings             
Title:  President                                       

[signature pages continue]

	
	
	VENTAS FAIRWOOD, LLC, a Delaware limited liability company

By:  /s/ Christian N. Cummings              
Name:  Christian N. Cummings             
Title:  President                                       

	VENTAS FRAMINGHAM, LLC, a Delaware limited liability company

By:  /s/ Christian N. Cummings              
Name:  Christian N. Cummings             
Title:  President                                       

	VENTAS WHITEHALL ESTATES, LLC, a Delaware limited liability company

By:  /s/ Christian N. Cummings              
Name:  Christian N. Cummings             
Title:  President                                       

[signature pages continue]

	
	
	VTR-EMRTS HOLDINGS, LLC, a Delaware limited liability company

By:  /s/ Christian N. Cummings              
Name:  Christian N. Cummings             
Title:  President                                       

[guarantor consent follows]

CONSENT AND REAFFIRMATION OF GUARANTOR 

THIS CONSENT AND REAFFIRMATION OF GUARANTOR (this “Reaffirmation”) is entered into concurrently with and is attached to and hereby made a part of Amendment No. 6 to Lease dated as of March 4, 2020 (the “Lease Amendment”) between Landlord and Tenant (both, as defined therein).
BROOKDALE SENIOR LIVING INC., a Delaware corporation (“Guarantor”) executed and delivered that certain Guaranty dated as of April 26, 2018 (the “Guaranty”), pursuant to which Guarantor guarantied for the benefit of Landlord, the obligations of Tenant under the Lease.
FOR VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, Guarantor hereby acknowledges, reaffirms and agrees:
1.Capitalized terms used but not defined in this Reaffirmation shall have the same meanings for purposes of this Reaffirmation as provided in or for purposes of the Lease Amendment.
2.Guarantor hereby (i) acknowledges and consents to the Lease Amendment, (ii) reaffirms its obligations under the Guaranty with respect to the Lease as amended by the Lease Amendment, and (iii) confirms that the Guaranty remains in full force and effect. 
3.Although Guarantor has been informed of the terms of the Lease Amendment, Guarantor understands and agrees that Landlord has no duty to so notify it or to seek this or any future acknowledgment, consent or reaffirmation, and nothing contained herein shall create or imply any such duty as to any transactions, past or future.
Guarantor has executed this Consent and Reaffirmation of Guarantor effective as of the Amendment Date.
GUARANTOR:
BROOKDALE SENIOR LIVING INC., 
a Delaware corporation

By:      /s/ Eric W. Hoaglund            
Name:      Eric W. Hoaglund        
Title:      Vice President        

EXHIBIT A
Requested Landlord Funded Upgrade Expenditures 
[omitted for SEC filing purposes]

EXHIBIT B
Request Form
[omitted for SEC filing purposes]

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