Document:

Document

Execution Version

THIRD AMENDMENT TO PRIMING FACILITY CREDIT AGREEMENT
This THIRD AMENDMENT TO PRIMING FACILITY CREDIT AGREEMENT (this “Amendment”) is entered into as of May 10, 2021 among GTT Communications, Inc., a Delaware corporation (the “Parent Guarantor”), GTT Communications B.V., a company organized under the laws of the Netherlands (the “Borrower”), the Lenders party hereto (which include the Required Lenders) (collectively, the “Consenting Lenders”) and Delaware Trust Company, as the administrative agent (the “Administrative Agent”).  Capitalized terms used in this Amendment and not defined herein have the meanings assigned to them in the Credit Agreement (as defined below) referenced below.
WHEREAS, the Parent Guarantor, the Borrower, the Lenders from time to time party thereto and the Administrative Agent have entered into that certain Priming Facility Credit Agreement, dated as of December 28, 2020 (as amended, restated, amended and restated, waived, supplemented or otherwise modified from time to time prior to the date hereof, the “Credit Agreement”); 
WHEREAS, the Borrower has requested that the Lenders consent to, and the Consenting Lenders have agreed to consent to the amendments contemplated herein, upon the terms and subject to the conditions set forth herein; and
WHEREAS, the Administrative Agent is executing this Amendment at the direction of the Consenting Lenders. 
NOW, THEREFORE, in consideration of the premises, agreements, provisions and covenants contained herein, the parties hereto hereby agree as follows:
1.    Amendments.  As of the Effective Time (as defined below):
(a)    Section 6.01(a) of the Credit Agreement is hereby amended and restated in its entirety to read as follows:
“Annual Financial Statements.  Not later than 90 days after the close of each fiscal year of the Parent Guarantor ending on or after December 31, 2020 (or, solely, in the case of the fiscal year of the Parent Guarantor ending December 31, 2020, not later than May 17, 2021 (which date may be extended by the Required Lenders in writing (which writing may be in the form of an e-mail from the Ad Hoc Lender Group Advisors)), the audited consolidated balance sheets of the Parent Guarantor and its consolidated Subsidiaries as at the end of such fiscal year and the related consolidated statements of operations, of stockholders’ equity and of cash flows for such fiscal year, in each case setting forth comparative figures for the preceding fiscal year, all in reasonable detail and accompanied by the opinion with respect to such consolidated financial statements of such independent public accountants of recognized national standing selected by the Parent Guarantor, which opinion shall be unqualified (other than in respect of Non-U.S. Subsidiaries of the Parent Guarantor, for which such accountants may rely on the audited financial statements of other accountants in a manner consistent with past practices), in each case which such financial statements (A) shall be certified by a Financial Officer that such accountants audited such consolidated financial statements in accordance with generally accepted auditing standards, that such consolidated financial statements present fairly, in all material respects, the consolidated financial position of the Parent Guarantor and its consolidated Subsidiaries as at the end of such fiscal year and the consolidated results of their operations and cash flows for such fiscal year in conformity with GAAP, 
 

or (B) contain such statements as are customarily included in unqualified reports of independent accountants.  Any such financial statements that are filed pursuant to and are accessible through the SEC’s EDGAR system will be deemed to have been provided in accordance with this clause (a) so long as the Administrative Agent and each Lender have received notification of the same.”
(b)    Section 6.01(b) of the Credit Agreement is hereby amended and restated in its entirety to read as follows:
“Quarterly Financial Statements.  Not later than 45 days after the close of each of the first three fiscal quarters in each fiscal year of the Parent Guarantor (commencing with the fiscal quarter ending March 31, 2021) (or, solely, in the case of the fiscal quarter of the Parent Guarantor ending March 31, 2021, not later than May 17, 2021 (which date may be extended by the Required Lenders in writing (which writing may be in the form of an e-mail from the Ad Hoc Lender Group Advisors)), the unaudited consolidated balance sheets of the Parent Guarantor and its consolidated Subsidiaries as at the end of such fiscal quarter and the related unaudited consolidated statements of operations, of stockholders’ equity and of cash flows for such quarterly period and for the fiscal year to date, and setting forth, in the case of such unaudited consolidated statements of operations, of stockholders’ equity and of cash flows, comparative figures for the related periods in the prior fiscal year, and which shall be certified on behalf of the Parent Guarantor by a Financial Officer, subject to changes resulting from normal year-end audit adjustments and the absence of footnotes.  Any such financial statements that are filed pursuant to and are accessible through the SEC’s EDGAR system will be deemed to have been provided in accordance with this clause (b) so long as the Administrative Agent and each Lender have received notification of the same.”
2.    Direction of Required Lenders to Administrative Agent.  The undersigned Consenting Lenders (which constitute the Required Lenders) hereby direct the Administrative Agent to enter into this Amendment.
3.    Conditions to Effectiveness.  This Amendment shall be effective upon satisfaction of each of the following conditions (the date of such effectiveness, the “Effective Time”):
(a)    the parties hereto shall have received an executed signature page hereto from each of the Parent Guarantor, the Borrower, the Administrative Agent and the Required Lenders;
(b)    the Parent Guarantor and the Borrower shall have paid the reasonable and documented fees, charges and disbursements of (i) Seward & Kissel LLP, counsel to the Administrative Agent, (ii) the Ad Hoc Lender Group Advisors and (iii) the Ad Hoc Noteholder Group Advisors; 
(c)    that certain Fourth Lender Forbearance Agreement, dated as of the date hereof, by and among the Parent Guarantor, the Borrower, the “Consenting Lenders” referred to therein and the Existing Agent shall have been executed and delivered and in full force and effect;
(d)    that certain Second Amendment to Noteholder Forbearance Agreement, dated as of the date hereof, by and among the U.S. Credit Parties and the “Consenting Noteholders” referred to therein shall have been executed and delivered and in full force and effect; and
2 

(e)    the Borrower shall have delivered to the Administrative Agent and each Private-Side Lender the monthly financial statements (including year-to-date results) for the calendar months ended January 31, 2021, February 28, 2021 and March 31, 2021 in substantially the same form as the financial statements delivered to the Ad Hoc Lender Group Advisors for the months ending January 31, 2021 and February 28, 2021.
4.    Representations and Warranties.  To induce the Lenders party hereto to execute and deliver this Amendment, each of the Parent Guarantor and the Borrower represents, warrants and covenants that:
(a)    this Amendment has been duly authorized by all necessary corporate or other organizational action and has been duly executed and delivered by the Parent Guarantor and the Borrower and constitutes a legal, valid and binding obligation in accordance with its terms, except to the extent that the enforceability thereof may be limited by applicable bankruptcy, insolvency, moratorium or other similar laws generally affecting creditors’ rights and by equitable principles (regardless of whether enforcement is sought in equity or law);
(b)    neither the execution, delivery and performance of this Amendment and all documents and instruments delivered in connection herewith nor the consummation of the transactions contemplated hereby or thereby contravenes, results in a breach of, or violates (i) any provision of the Parent Guarantor or the Borrower’s organizational documents or (ii) any applicable law; 
(c)    as of the date hereof, no Default or Event of Default has occurred and is continuing; and
(d)    the representations and warranties of the Credit Parties contained in the Credit Agreement and the other Loan Documents are true and correct in all material respects with the same effect as though such representations and warranties had been made on and as of the date hereof, except to the extent such representations and warranties expressly relate to an earlier specified date, in which case such representations and warranties shall have been true and correct in all material respects as of the date when made (except to the extent any such representation or warranty is qualified by “materiality” or “Material Adverse Effect” or a similar term, in which case such representation and warranty shall be true and correct in all respects).
5.    Indemnification.  Each of the Consenting Lenders hereby reaffirms all of its obligations under Section 9.09 of the Credit Agreement with respect to the Administrative Agent’s entry into this Amendment and the transactions contemplated hereby.  Each of the Parent Guarantor and the Borrower, for itself and on behalf of each other Credit Party, hereby reaffirms all of its obligations under Section 11.02 of the Credit Agreement with respect to the Administrative Agent’s entry into this Amendment and the transactions contemplated hereby.  In executing this Amendment, the Administrative Agent shall be entitled to the benefit of every provision of the Credit Agreement relating to the conduct of or affecting the liability of or affording protection to the Administrative Agent.
6.    Miscellaneous.  The provisions of Section 11.08(b) through Section 11.08(e), and Sections 11.09, 11.10, 11.19 and 11.21 of the Credit Agreement are incorporated herein mutatis mutandis as if set forth herein.  The words “execution,” “signed,” “signature,” and words of like import in this Amendment shall be deemed to include electronic signatures or the keeping of electronic records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a 
3 

manually executed signature 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. 
7.    Effect of Amendment.  All of the terms, conditions, representations, warranties and covenants contained in the Loan Documents shall continue in full force and effect, in each case, as expressly modified by this Amendment.  This Amendment is a Loan Document.  Except as expressly stated herein, nothing contained herein shall be deemed to constitute a waiver of compliance with any term or condition contained in the Credit Agreement or any of the other Loan Documents or constitute a course of conduct or dealing among the parties.  Except as expressly stated herein, the Administrative Agent and the Lenders reserve all rights, privileges and remedies under the Loan Documents.   
8.    Reaffirmation and Acknowledgement.  Each of the Parent Guarantor and the Borrower, by its signature below, hereby (i) consents to the terms hereof and hereby acknowledges and agrees that any Loan Document to which it is a party or otherwise bound shall continue in full force and effect (including, without limitation, the pledge and security interest in any Collateral granted by it pursuant to the Loan Documents), (ii) acknowledges and agrees that the Obligations under the Loan Documents are in all respects continuing, (iii) reaffirms all of its obligations under each of the Loan Documents (as amended hereby) to which it is a party, and (iv) reaffirms its guarantee of the Obligations and the pledge of and/or grant of a security interest in its assets constituting Collateral to secure the Obligations and acknowledges and agrees that such guarantee, pledge and/or grant continue in full force and effect in respect of, and to secure, the Obligations.
9.    Governing Law.  THIS AMENDMENT, AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HERETO, SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.
10.    Release. 
(a)    Release of Claims; No Defenses.
(i)    As of the date of this Amendment, each of the Parent Guarantor and the Borrower, for itself and on behalf of each other Credit Party and each of their respective Subsidiaries (collectively, the “Releasors”), to the fullest extent permitted by law, hereby releases, and forever discharges the Administrative Agent, each Lender and each of its or their respective trustees, officers, directors, participants, beneficiaries, agents, attorneys, affiliates and employees, and the successors and assigns of the foregoing (collectively, the “Released Parties”), from any and all claims, actions, causes of action, suits, defenses, set-offs against the Obligations, and liabilities of any kind or character whatsoever, known or unknown, contingent or matured, suspected or unsuspected, anticipated or unanticipated, liquidated or unliquidated, claimed or unclaimed, in contract or in tort, at law or in equity, or otherwise, including, without limitation, claims or defenses relating to allegations of usury, which relate, in whole or in part, directly or indirectly, to the Loans, the Loan Documents, the Obligations, the Collateral or this Amendment, in each case, which existed, arose or occurred at any time prior to the date of this Amendment, including, without limitation, the negotiation, execution, performance or enforcement of the Loan Documents and this Amendment, any claims, causes of action or defenses based 
4 

on the negligence of any of the Released Parties or on any “lender liability” theories of, among others, unfair dealing, control, misrepresentation, omissions, misconduct, overreaching, unconscionability, disparate bargaining position, reliance, equitable subordination, or otherwise, and any claim based upon illegality or usury (collectively, the “Released Claims”).  No Releasor shall intentionally, willfully or knowingly commence, join in, prosecute, or participate in any suit or other proceeding in a position which is adverse to any of the Released Parties, arising directly or indirectly from any of the Released Claims.  The Released Claims include, but are not limited to, any and all unknown, unanticipated, unsuspected or misunderstood claims and defenses which existed, arose or occurred at any time prior to the date of this Amendment, all of which are released by the provisions hereof in favor of the Released Parties.
(ii)    Each Releasor acknowledges and agrees that it has no defenses, counterclaims, offsets, cross-complaints, causes of action, rights, claims or demands of any kind or nature whatsoever, including, without limitation, any usury or lender liability claims or defenses, arising out of the Loan Documents or this Amendment, that can be asserted either to reduce or eliminate all or any part of any of the Releasors’ liability to the Administrative Agent and the Lenders under the Loan Documents, or to seek affirmative relief or damages of any kind or nature from the Administrative Agent or the Lenders, for or in connection with the Loans or any of the Loan Documents.  Each Releasor further acknowledges that, to the extent that any such claim does in fact exist, it is being fully, finally and irrevocably released by them as provided in this Amendment.
(iii)    Each Releasor hereby waives the provisions of any applicable laws restricting the release of claims which the releasing parties do not know or suspect to exist as of the date of this Amendment, which, if known, would have materially affected the decision to agree to these releases.  Accordingly, each Releasor hereby agrees, represents and warrants to the Administrative Agent and each Lender that it understands and acknowledges that factual matters now unknown may have given or may hereafter give rise to causes of action, claims, demands, debts, controversies, damages, costs, losses and expenses which are presently unknown, unanticipated and unsuspected, and each Releasor further agrees, represents and warrants that the releases provided herein have been negotiated and agreed upon, and in light of, that realization and that each Releasor nevertheless hereby intends to release, discharge and acquit the parties set forth hereinabove from any such unknown causes of action, claims, demands, debts, controversies, damages, costs, losses and expenses which are in any manner set forth in or related to the Released Claims and all dealings in connection therewith.
(iv)    In making the releases set forth in this Amendment, each Releasor acknowledges that it has not relied upon any representation of any kind made by any Released Party.
(v)    It is understood and agreed by the Releasors and the Released Parties that the acceptance of delivery of the releases set forth in this Amendment shall not be deemed or construed as an admission of liability by any of the Released Parties and the Administrative Agent, on behalf of itself and the other Released Parties, hereby expressly denies liability of any nature whatsoever arising from or related to the subject of such releases.
5 

[Signature Pages Follow]
6 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their respective officers, as of the date first above written.
GTT COMMUNICATIONS, INC.

    By:    /s/ Donna Granato                            
        Name:   Donna Granato
        Title:   Interim Chief Financial Officer

                        GTT COMMUNICATIONS B.V.

    By:    /s/ Donna Granato                                        
Name: Donna Granato
        Title:   Director
                    
    
GTT – Third Amendment to Priming Facility Credit Agreement

Acknowledged and agreed to:
DELAWARE TRUST COMPANY, 
as Administrative Agent

    By:    /s/ Sean Foronjy                            
Name: Sean Foronjy
        Title:   Vice President

GTT – Third Amendment to Priming Facility Credit AgreementDocument

EXECUTION VERSION

SECOND AMENDMENT TO NOTEHOLDER FORBEARANCE AGREEMENT
This Second Amendment to Noteholder Forbearance Agreement (this “Amendment”) is entered into as of May 10, 2021, by and among GTT Communications, Inc., a Delaware corporation (the “Issuer”), GTT Americas, LLC, a Delaware limited liability company, GTT Global Telecom Government Services, LLC, a Virginia limited liability company, GC Pivotal, LLC, a Delaware limited liability company, Communication Decisions – SNVC, LLC, a Virginia limited liability company, Electra Ltd., a Virginia corporation and Core 180, LLC, a Delaware limited liability company (each such direct or indirect subsidiary of the Issuer, a “Guarantor” and, together, the “Guarantors”), and each of the undersigned beneficial owners (or nominees, investment managers, advisors or subadvisors for the beneficial owners) of the Notes (as hereinafter defined) (collectively, the “Consenting Noteholders” and, together with the Issuer and the Guarantors, collectively, the “Parties”).

RECITALS
A.    The Issuer, the Guarantors and Wilmington Trust, National Association, as trustee, are parties to that certain Indenture, dated as of December 22, 2016, (as amended, restated, supplemented or otherwise modified from time to time, the “Indenture”), under which the Issuer’s 7.875% Senior Notes due 2024 (the “Notes”) were issued. 
B.     The Issuer and the Guarantors entered into that certain Noteholder Forbearance Agreement, dated as of December 28, 2020 (the “December Forbearance Agreement”) with the Forbearing Noteholders (as defined in the December Forbearance Agreement).
C.    Requisite Forbearing Noteholders (as defined in the December Forbearance Agreement) provided certain acknowledgements relating to the December Forbearance Agreement in Section 3(b) of that certain First Amendment to Priming Facility Credit Agreement, dated as of February 11, 2021, among the Issuer, GTT Communications B.V. (“GTT B.V.”), the lenders party thereto and Delaware Trust Company, as administrative agent and collateral agent (the “Agent”).
D.    The Issuer, the Guarantors and Requisite Forbearing Noteholders amended the December Forbearance Agreement on March 29, 2021 (the “First Amendment”).
E.    On April 12, 2021, Requisite Forbearing Noteholders consented to an extension (the “First Extension”) of the date and time “5:00 p.m., New York City time, on April 15, 2021” in clause (2) of the definition of Termination Event in Section 2(a) of the December Forbearance Agreement (as previously amended by the First Amendment), to the date and time “5:00 p.m., New York City time, on April 22, 2021.” 
F.    On April 19, 2021, Requisite Forbearing Noteholders consented to an extension (the “Second Extension”) of the date and time “5:00 p.m., New York City time, on April 22, 2021” in clause (2) of the definition of Termination Event in Section 2(a) of the December Forbearance Agreement (as previously amended by the First Amendment and the First Extension), to the date and time “5:00 p.m., New York City time, on May 3, 2021”.
G.    On April 28, 2021, Requisite Forbearing Noteholders consented to an extension (the “Third Extension”) of the date and time “5:00 p.m., New York City time, on May 3, 2021” in clause (2) of the definition of Termination Event in Section 2(a) of the December Forbearance Agreement (as previously amended by the First Amendment, the First Extension and the Second Extension), to the date 

and time “5:00 p.m., New York City time, on May 10, 2021” (the December Forbearance Agreement, as amended by the First Amendment, the First Extension, the Second Extension and the Third Extension, the “Forbearance Agreement”).
H.    Terms used but not otherwise defined herein shall have the meanings given to them in the Forbearance Agreement or the Indenture, as applicable.
I.    Subject to the terms and conditions set forth in the Forbearance Agreement, the Forbearing Noteholders have agreed to forbear, solely during the Noteholder Forbearance Period, from exercising their default-related rights and remedies against the Issuer and the Guarantors with respect to the Noteholder Specified Defaults.
J.    The Issuer, the Guarantors and the Consenting Noteholders (which constitute the Requisite Forbearing Noteholders) desire to amend the Forbearance Agreement as set forth in this Amendment. 
NOW, THEREFORE, in consideration of the foregoing, the terms, covenants and conditions contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereto agree as follows:

SECTION 1.    Amendments to Forbearance Agreement. 
(a)    Recital (J) in the Forbearance Agreement is hereby amended and restated as follows:

“The Issuer has requested that, during the Noteholder Forbearance Period (as hereinafter defined), the Noteholders agree to forbear from exercising any and all rights and remedies against the Issuer and the Guarantors with respect to any Defaults or Events of Default that have occurred, or that may occur as a result of, (i) the Reporting Defaults, (ii) the Issuer’s failure to file its Annual Report on Form 10-K for the fiscal year ended December 31, 2020 during the Noteholder Forbearance Period and (iii) the occurrence and continuance of the “Lender Specified Defaults” as defined in the Fourth Credit Facilities Forbearance Agreement (as defined in the Second Amendment to Noteholder Forbearance Agreement, dated as of May 10, 2021, by and among the Issuer, the Guarantors, and the beneficial owners (or nominees, investment managers, advisors or subadvisors for the beneficial owners) of the Notes party thereto) (collectively, the “Noteholder Specified Defaults”).”
(b)    The date “May 10, 2021” in clause (2) of the definition of Termination Event in Section 2(a) of the Forbearance Agreement is hereby replaced with “May 17, 2021”.
(c)    Clause (E)(i) of the definition of Forbearance Default in Section 2(a) of the Forbearance Agreement is hereby amended and restated as follows: “the expiration or termination of the Lender Forbearance Period (as defined in the Fourth Credit Facilities Forbearance Agreement)”.

SECTION 2.    Acknowledgements.
The Consenting Noteholders hereby consent to the amendments contained in Section 1 of that certain Third Amendment to Priming Facility Credit Agreement, dated as of May 10, 2021 (the “Third Amendment”), among the Issuer, GTT B.V., the lenders party thereto and the Agent, and each reference to the “Priming Facility Credit Agreement” in the Forbearance Agreement shall mean the Priming Facility Credit Agreement as amended by the Third Amendment. 

SECTION 3.    Effectiveness.  
The Forbearance Agreement is and shall remain in full force and effect as of the date hereof except as modified by this Amendment. This Amendment will be effective as of the date (i) each of the Parties shall have executed and delivered counterpart signature pages of this Amendment to counsel to each of the other Parties (which signature pages of this Amendment may be delivered by counsel in electronic form), (ii) the Issuer shall have paid the reasonable and documented fees, charges and disbursements of Latham & Watkins LLP, counsel to the Forbearing Noteholders, incurred in connection with this Agreement or in connection with any other agreements or documentation entered into prior to the date hereof and (iii) the Issuer and the Required Lenders (as defined in the Existing Credit Agreement) shall have entered into a forbearance agreement (the “Fourth Credit Facilities Forbearance Agreement”) with respect to the Lender Specified Defaults, which Fourth Credit Facilities Forbearance Agreement shall be in the form attached hereto as Exhibit A.
SECTION 4.    Amendments.
This Amendment may be modified, amended or supplemented only by an instrument in writing signed by the Issuer, the Guarantors and the Requisite Forbearing Noteholders or by written consent (which may be evidenced by email from counsel) of the Issuer, the Guarantors and the Requisite Forbearing Noteholders.  Any provision in this Amendment may be waived by an instrument in writing signed by the Party against whom such waiver is to be effective, and any date or deadline set forth herein may be extended by written consent of the Requisite Forbearing Noteholders (which may be evidenced by email from counsel). 
SECTION 5.    Governing Law; Consent to Jurisdiction.
THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.  THIS AMENDMENT IS SUBJECT TO THE PROVISIONS OF SECTION 12.08 OF THE INDENTURE RELATING TO SUBMISSION TO JURISDICTION AND WAIVER OF RIGHT TO TRIAL BY JURY, THE PROVISIONS OF WHICH ARE BY THIS REFERENCE INCORPORATED HEREIN IN FULL.
SECTION 6.    Construction.  
This Amendment and all other agreements and documents executed and/or delivered in connection herewith have been prepared through the joint efforts of all of the Parties hereto.  Neither the provisions of this Amendment or any such other agreements and documents nor any alleged ambiguity therein shall be interpreted or resolved against any party on the ground that such party or its counsel drafted this Amendment or such other agreements and documents, or based on any other rule of strict construction.  Each of the Parties hereto represents and declares that such party has carefully read this Amendment and all other agreements and documents executed in connection therewith, and that such party knows the contents thereof and signs the same freely and voluntarily.  The Parties hereto acknowledge that they have been represented by legal counsel of their own choosing in negotiations for and preparation of this Amendment and all other agreements and documents executed in connection herewith and that each of them has read the same and had their contents fully explained by such counsel and is fully aware of their contents and legal effect.  Without limiting the generality of the foregoing, “option” and “discretion” shall be implied by the use of the words “if” and “may.”

SECTION 7.    Counterparts.  
This Amendment 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.  Delivery of an executed counterpart of a signature page of this Amendment by telecopy or other electronic imaging means (including “.pdf”) shall be effective as delivery of a manually executed counterpart of this Amendment.
SECTION 8.    Severability.  
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 the Forbearance Agreement, as amended, 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.    Time of Essence.  
Time is of the essence in the performance of the obligations of the Parties hereunder and with respect to all conditions to be satisfied by such Parties.
SECTION 10.    Section Headings.  
Section headings in this Amendment are included herein for convenience of reference only and shall not constitute part of this Amendment for any other purpose.
SECTION 11.    Notices.  
Except as set forth herein, all notices, requests, and demands to or upon the respective Parties hereto shall be given in accordance with the Indenture or in such other manner and to such persons as agreed upon by the Parties hereto.
SECTION 12.    Assignments.  
This Amendment shall be binding upon and inure to the benefit of the Issuer, the Guarantors, the Forbearing Noteholders and their respective successors and assigns.  
SECTION 13.    Relationship of Parties; No Third Party Beneficiaries.  
Nothing in this Amendment shall be construed to alter the existing debtor-creditor relationship between the Issuer and the Guarantors, on the one hand, and the Forbearing Noteholders, on the other hand.  This Amendment is not intended, nor shall it be construed, to create a partnership or joint venture relationship between or among any of the Parties hereto.  No person other than a Party hereto is intended to be a beneficiary hereof and no person other than a Party hereto shall be authorized to rely upon or enforce the contents of this Amendment.

SECTION 14.    Final Agreement.  
THIS AMENDMENT, THE FORBEARANCE AGREEMENT, THE INDENTURE AND THE GUARANTEES 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.
SECTION 15.    Separately Managed Accounts.  
The Parties hereto acknowledge that all representations, warranties, covenants and other agreements made by or with respect to any Noteholder that is a separately managed account of an investment manager identified on the signature pages hereto (the “Manager”) are being made only with respect to the assets managed by such Manager on behalf of such Noteholder, and shall not apply to (or be deemed to be made in relation to) any assets or interests that may be beneficially owned by such Noteholder that are not held through accounts managed by such Manager.
 [Signature Pages Follow]

 IN WITNESS WHEREOF, this Amendment has been executed by the Parties hereto as of the date first written above.
                        GTT COMMUNICATIONS, INC. 

                        By: /s/ Donna Granato                                            
Name: Donna Granato
                        Title: Interim Chief Financial Officer

                        

                        GTT AMERICAS, LLC
GTT GLOBAL TELECOM GOVERNMENT SERVICES, LLC
GC PIVOTAL, LLC
COMMUNICATION DECISIONS – SNVC, LLC
ELECTRA LTD.
CORE 180, LLC

                        By: /s/ Donna Granato                                            
Name: Donna Granato
                        Title: Chief Financial Officer
 
SIGNATURE PAGE TO 
AMENDMENT TO NOTEHOLDER FORBEARANCE AGREEMENT

DDJ CAPITAL MANAGEMENT, LLC, on behalf of certain funds and accounts it manages and/or advises

By: /s/ David J. Breazzano     
Name:     David J. Breazzano
Title:    President 

SIGNATURE PAGE TO 
AMENDMENT TO NOTEHOLDER FORBEARANCE AGREEMENT

CREDIT SUISSE ASSET MANAGEMENT, LLC, in its capacity as investment manager, sub-adviser, or similar capacity on behalf of certain holders of the 7.875% Senior Notes due 2024 of GTT Communications, Inc.

By: /s/ Thomas Flannery    
    Authorized Signatory

SIGNATURE PAGE TO 
AMENDMENT TO NOTEHOLDER FORBEARANCE AGREEMENT

HG VORA CAPITAL MANAGEMENT, LLC, as investment advisor on behalf of certain funds and managed accounts

By:     HG Vora Capital Management, LLC, 
    as investment advisor

By: /s/ Mandy Lam    
Name:    Mandy Lam
Title:    Authorized Signatory    

SIGNATURE PAGE TO 
AMENDMENT TO NOTEHOLDER FORBEARANCE AGREEMENT

ARISTEIA CAPITAL, L.L.C., solely in its capacity as Investment Manager to underlying fund holders

By: /s/ Robert H. Lynch, Jr.    
Name:    Robert H. Lynch, Jr.
Title:    Manager
    Aristeia Capital, L.L.C.

By:    /s/ Andrew B. David    
Name:    Andrew B. David
Title:    Chief Operating Officer
    Aristeia Capital, L.L.C.

SIGNATURE PAGE TO 
AMENDMENT TO NOTEHOLDER FORBEARANCE AGREEMENT

Exhibit A

See Exhibit 10.3 filed herewith.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00327-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00327-of-00352.parquet"}]]