Document:

Ex. 10.2 - 3rd Amendment to Amended and Restated Purchase and Sale Agreement

THIRD AMENDMENT TO 
AMENDED AND RESTATED PURCHASE AND SALE AGREEMENT
THIS THIRD AMENDMENT TO AMENDED AND RESTATED PURCHASE AND SALE AGREEMENT, dated as of June 1, 2015 (this “Amendment”) is entered into by CINCINNATI BELL WIRELESS, LLC, a Delaware corporation (the “Exiting Originator”), the remaining Originators listed on the signature pages hereto (each, a “Continuing Originator”; and collectively, the “Continuing Originators”), CINCINNATI BELL FUNDING LLC, a Delaware limited liability company (the “Company”) and CINCINNATI BELL INC. (“CB”), an Ohio corporation, as sole member of the Company and as Servicer.
BACKGROUND:
A.    The Exiting Originator, the Continuing Originators, the Company and CB have entered into that certain Amended and Restated Purchase and Sale Agreement, dated as of June 6, 2011 (as amended, restated, supplemented or otherwise modified through the date hereof, and as it may be further amended, restated, supplemented or otherwise modified from time to time, the “Agreement”).
B.    The Exiting Originator desires to no longer be a party to the Agreement and to be relieved of all rights and obligations thereunder (other than such obligations which by their express terms survive termination of the Agreement).
C.    The parties hereto desire to amend the Agreement as set forth herein. 
NOW, THEREFORE, in consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:
SECTION 1.Definitions.  Capitalized terms used in this Amendment and not otherwise defined herein shall have the meanings assigned thereto in the Agreement or in the Receivables Purchase Agreement (as defined in the Agreement).
SECTION 2.Amendments.  The Agreement is hereby amended as follows:
(a)Clause (a) of Section 1.1 of the Agreement is amended by deleting  the word “CBW” in each place where it appears therein and substituting “Cincinnati Bell Wireless, LLC”.
(b)Section 8.1 of the Agreement is amended by replacing the proviso thereto in its entirety with the following:
provided that, if any “Purchase and Sale Termination Event” set forth in clauses (a) through (e) listed above shall have occurred with respect to CBT, such Purchase and Sale Termination Event shall be deemed to have occurred with respect to all Transferors.
(c)Schedule I to the Agreement is amended and restated in its entirety as Schedule I attached hereto.
(d)Schedule II to the Agreement is amended and restated in its entirety as Schedule II attached hereto.
(e)Schedule III to the Agreement is amended and restated in its entirety as Schedule III attached hereto.
(f)Schedule IV to the Agreement is amended and restated in its entirety as Schedule IV attached hereto.
SECTION 3.Removal of Exiting Originator.  The parties hereto hereby agree that upon the effectiveness of this Amendment, the Exiting Originator shall no longer be party to the Agreement and shall no longer have any obligations or rights thereunder (other than such obligations which by their express terms survive termination of the Agreement).
SECTION 4.Representations and Warranties.  Each of the Exiting Originator, the Continuing Originators, the Company and CB hereby represents and warrants as follows:
(a)Representations and Warranties.  The representation and warranties made by it in the Agreement, as amended by this Amendment, and in the other Transaction Documents are true and correct as of the date hereof (unless stated to relate solely to an earlier date, in which case such representations and warranties are true and correct as of such earlier date).

(b)Enforceability.  The execution and delivery by such Person of this Amendment, and the performance of each of its obligations under this Amendment and the Agreement, as amended hereby, are within each of its organizational powers and have been duly authorized by all necessary organizational action on its part.  This Amendment and the Agreement, as amended hereby, are such Person’s valid and legally binding obligations, enforceable in accordance with the terms thereof.
(c)No Default.  Both before and immediately after giving effect to this Amendment and the transactions contemplated hereby, no Purchase and Sale Termination Event or Unmatured Purchase and Sale Termination Event exists or shall exist.
SECTION 5.Effect of Amendment.  All provisions of the Agreement, as expressly amended and modified by this Amendment, shall remain in full force and effect. After this Amendment becomes effective, all references in the Agreement (or in any other Transaction Document) to “this Agreement”, “the Purchase and Sale Agreement”, “hereof”, “herein” or words of similar effect referring to the Agreement shall be deemed to be references to the Agreement as amended by this Amendment. This Amendment shall not be deemed, either expressly or impliedly, to waive, amend or supplement any provision of the Agreement other than as set forth herein.  Upon the effectiveness of this Amendment and at all times thereafter, references to the Exiting Originator (in such capacity or in any other capacity, including, without limitation, its individual capacity) in the Agreement or any other Transaction Document or in any other agreement or document related to any of the foregoing shall be deemed to be read to take into effect the transactions contemplated by this Amendment.
SECTION 6.Effectiveness.  This Amendment shall become effective as of the date hereof upon receipt by the Administrator of the following, each in form and substance satisfactory to the Administrator: (a) evidence that each of the conditions to effectiveness set forth in that certain Eighth Amendment to the Amended and Restated Receivables Purchase Agreement, dated as of even date herewith, shall have been satisfied and (b) counterparts of this Amendment duly executed by each of the other parties hereto.
SECTION 7.Miscellaneous.  This Amendment shall be governed by, and construed in accordance with, the internal laws of the State of New York.  This Amendment may be executed in any number of counterparts and by different parties on separate counterparts, each of which when so executed shall be deemed to be an original and all of which when taken together shall constitute but one and the same instrument.  Delivery by facsimile or email of an executed signature page of this Amendment shall be effective as delivery of an executed counterpart hereof.  The various headings of this Amendment are included for convenience only and shall not affect the meaning or interpretation of this Amendment, the Agreement or any provision hereof or thereof.
[Signature Pages Follow]

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IN WITNESS WHEREOF, the parties have executed this Amendment as of the date first written above.
	
					
	 
	 
	 
	CINCINNATI BELL WIRELESS, LLC, 
	 

	 
	 
	 
	as the Exiting Originator
	 

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/ Christopher C. Elma
	 

	 
	 
	Name:
	Christopher C. Elma
	 

	 
	 
	Title:
	Vice President and Treasurer
	 

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	CINCINNATI BELL FUNDING LLC

	 
	 
	 
	 

	 
	 
	By:
	/s/ Christopher C. Elma

	 
	 
	Name:
	Christopher C. Elma

	 
	 
	Title:
	Vice President and Treasurer

	 
	 
	 
	 

	 
	 
	 
	CINCINNATI BELL INC., as sole member of

	 
	 
	 
	Cincinnati Bell Funding LLC

	 
	 
	 
	 

	 
	 
	By:
	/s/ Christopher C. Elma

	 
	 
	Name:
	Christopher C. Elma

	 
	 
	Title:
	Vice President and Treasurer

	 
	 
	 
	 

	 
	 
	 
	CINCINNATI BELL INC.,

	 
	 
	 
	as Servicer

	 
	 
	 
	 

	 
	 
	By:
	/s/ Christopher C. Elma

	 
	 
	Name:
	Christopher C. Elma

	 
	 
	Title:
	Vice President and Treasurer

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	ORIGNATORS:

	 
	 
	 
	 

	 
	 
	 
	CINCINNATI BELL ANY DISTANCE INC.,

	 
	 
	 
	as an Orignator

	 
	 
	 
	 

	 
	 
	By:
	/s/ Christopher C. Elma

	 
	 
	Name:
	Christopher C. Elma

	 
	 
	Title:
	Vice President and Treasurer

	 
	 
	 
	 

	 
	 
	 
	CINCINNATI BELL TELEPHONE COMPANY

	 
	 
	 
	LLC, as an Orignator

	 
	 
	 
	 

	 
	 
	By:
	/s/ Christopher C. Elma

	 
	 
	Name:
	Christopher C. Elma

	 
	 
	Title:
	Vice President and Treasurer

	 
	 
	 
	 

	 
	 
	 
	CINCINNATI BELL EXTENDED TERRITORIES

	 
	 
	 
	LLC, as an Originator

	 
	 
	 
	 

	 
	 
	By:
	/s/ Christopher C. Elma

	 
	 
	Name:
	Christopher C. Elma

	 
	 
	Title:
	Vice President and Treasurer

	 
	 
	 
	 

	 
	 
	 
	CINCINNATI BELL TECHNOLOGY SOLUTIONS

	 
	 
	 
	INC., as an Originator

	 
	 
	 
	 

	 
	 
	By:
	/s/ Christopher C. Elma

	 
	 
	Name:
	Christopher C. Elma

	 
	 
	Title:
	Vice President and Treasurer

	 
	 
	 
	 

	 
	 
	 
	EVOLVE BUISNESS SOLUTIONS LLC

	 
	 
	 
	 

	 
	 
	By:
	/s/ Christopher C. Elma

	 
	 
	Name:
	Christopher C. Elma

	 
	 
	Title:
	Vice President and Treasurer

	 
	 
	 
	 

	 
	 
	 
	CINCINNATI BELL ANY DISTANCE OF

	 
	 
	 
	VIRGINIA LLC

	 
	 
	 
	 

	 
	 
	By:
	/s/ Christopher C. Elma

	 
	 
	Name:
	Christopher C. Elma

	 
	 
	Title:
	Vice President and Treasurer

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	Consented to:

	 
	 
	 
	 

	 
	 
	 
	PNC BANK, NATIONAL ASSOCIATION

	 
	 
	 
	as Administrator

	 
	 
	 
	 

	 
	 
	By:
	/s/ Mark Falcione

	 
	 
	Name:
	Mark Falcione

	 
	 
	Title:
	Executive Vice President

	 
	 
	 
	 

	 
	 
	 
	PNC BANK, NATIONAL ASSOCIATION

	 
	 
	 
	as Purchaser Agent

	 
	 
	 
	 

	 
	 
	By:
	/s/ Mark Falcione

	 
	 
	Name:
	Mark Falcione

	 
	 
	Title:
	Executive Vice President

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	REGIONS BANK

	 
	 
	 
	as Purchaser Agent

	 
	 
	 
	 

	 
	 
	By:
	/s/ Kathy Myers

	 
	 
	Name:
	Kathy Myers

	 
	 
	Title:
	Vice President

S-5Ex. 10.3 - Assignment Agreement

ASSIGNMENT AGREEMENT
This Assignment Agreement (this “Assignment Agreement”), dated as of  June 1, 2015, is by and among Cincinnati Bell Funding LLC (the “Company”), Cincinnati Bell Wireless, LLC (the “Transferee”) and PNC Bank, National Association, as administrator (the “Administrator”).  Capitalized terms used but not otherwise defined herein have the respective meanings set forth in the Sale Agreement (as defined below) or, if not defined therein, as set forth in the Receivables Purchase Agreement (as defined below).
Background
1.    Cincinnati Bell Inc. (“CB”), individually and as initial Servicer, the Transferee, as Originator, the other Originators party thereto and the Company are parties to that certain Amended and Restated Purchase and Sale Agreement, dated as of June 6, 2011 (as amended, supplemented or otherwise modified from time to time, the “Sale Agreement”).  In connection therewith, the Company executed and delivered (i) to Transferee a Company Note (the “Transferee Company Note”);
2.    Transferee desires to be removed from the Sale Agreement as an Originator thereunder, and in connection therewith, the parties to the Sale Agreement are amending the Sale Agreement concurrently with this Assignment Agreement to effect such removal;
3.    Transferee desires to purchase from the Company, and the Company desires to sell to Transferee the outstanding Receivables previously sold by Transferee to the Company under the Sale Agreement (the “Transferee Receivables”); and
4.    The Company, as seller, CB, as servicer (the “Servicer”), the various Purchaser Groups from time to time party thereto and the Administrator are parties to that certain Amended and Restated Receivables Purchase Agreement, dated as of June 6, 2011 (as amended, supplemented or otherwise modified from time to time, the “Receivables Purchase Agreement”), pursuant to which the Company has granted to the Administrator a security interest in the Transferee Receivables;
NOW THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
On the date hereof, in consideration of the payment of a fair market repurchase price in an amount to be agreed by Transferee and the Company for the sale of the Transferee Receivables by the Company to Transferee, which shall be paid first by reducing the Company’s obligations under the Transferee Company Note in the amount of the repurchase price (but not to less than zero) and the balance, if any, in cash (which cash portion shall constitute a Collection for all purposes of the Transaction Documents), the Company hereby sells, assigns and transfers (without recourse, representation or warranty) to Transferee all of the Company’s right, title and interest in and to the Transferee Receivables, together with all rights to, and obligations under, all Related Security with respect to the Transferee Receivables, and all Collections from and after the date hereof in respect of, and other proceeds of, any of the foregoing (collectively, the “Transferee Repurchased Assets”).  Transferee hereby purchases and accepts all the Company’s right, title and interest in and to the Transferee Repurchased Assets.
On the date hereof, the Company shall (for the avoidance of doubt, subject to all the “Subordination Provisions” set forth and defined in the Transferee Company Note) repay any outstanding amounts due to Transferee under the Transferee Company Note.  From and after the date hereof, the Transferee Company Note shall have no further force or effect, and Transferee agrees to cancel or deliver to the Company the Transferee Company Note.
Promptly after the date hereof, the Company (or the Servicer on behalf of the Company) shall provide to the Administrator a statement setting forth the Outstanding Balance of the Transferee Receivables sold to Transferee hereunder. 
Each of the Administrator (on behalf of itself and each Purchaser) and the Company hereby (i) releases its ownership and/or security interest in the Transferee Repurchased Assets and (ii) authorizes Transferee (or its designee) to file any UCC3 termination statements necessary to terminate any existing financing statements filed against Transferee in favor of the Company or the Administrator pursuant to the Transaction Documents, provided that such UCC3 termination statements shall be prepared and recorded by Transferee (or its designee) at Transferee’s expense.
The sale, assignment and transfer by the Company to the Transferee hereunder is made without recourse, representation or warranty.  It is the intention of Company and the Transferee that the assignment contemplated by this Assignment Agreement shall constitute a sale of the Transferee Repurchased Assets from Company to the Transferee and the beneficial interest in and title to the Transferee Repurchased Assets shall not be part of Company’s estate in the event of the filing of a bankruptcy petition by or against Company under any bankruptcy law.

Transferee represents and warrants to the Company, each Purchaser, each Purchaser Agent and the Administrator that it has the full corporate or limited liability company power, as applicable, and authority to execute and deliver this Assignment Agreement and to perform its obligations hereunder and that this Assignment Agreement has been duly and validly executed and delivered by it and constitutes a legal, valid and binding obligation of such Transferee enforceable against it in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization or other similar laws affecting the enforcement of creditors’ rights generally and by general principles of equity, regardless of whether enforceability is considered in a proceeding in equity or at law.  Transferee acknowledges and agrees that the obligations of such Transferee described in Section 10.12 of the Sale Agreement shall continue to apply to such Transferee after the execution of this Assignment Agreement.
By executing a counterpart hereto, each of the parties hereto acknowledges and consents to the transfers contemplated herein.
This Assignment Agreement may be executed in any number of counterparts, and by the different parties hereto on the same or separate counterparts, each of which when so executed and delivered shall be deemed to be an original instrument but all of which together shall constitute one and the same agreement.  This Assignment Agreement may not be amended or otherwise modified except in writing executed by each of the parties hereto.
THIS ASSIGNMENT AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AMENDMENT SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK (INCLUDING, WITHOUT LIMITATION, SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATION LAW).
(continued on following page)

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IN WITNESS WHEREOF, the undersigned have caused this Assignment Agreement to be duly executed and delivered by its duly authorized officer as of the date first written above.
	
					
	 
	 
	 
	CINCINNATI BELL FUNDING LLC
	 

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/ Christopher C. Elma
	 

	 
	 
	Name:
	Christopher C. Elma
	 

	 
	 
	Title:
	Vice President and Treasurer
	 

	 
	 
	 
	 
	 

	 
	 
	 
	CINCINNATI BELL WIRELESS, LLC
	 

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/ Christopher C. Elma
	 

	 
	 
	Name:
	Christopher C. Elma
	 

	 
	 
	Title:
	Vice President and Treasurer
	 

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	PNC BANK, NATIONAL ASSOCIATION,

	 
	 
	 
	as Administrator

	 
	 
	 
	 

	 
	 
	By:
	/s/ Mark Falcione

	 
	 
	Name:
	Mark Falcione

	 
	 
	Title:
	Executive Vice President

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