Document:

exv10w1

 

Exhibit 10.1

FIRST AMENDMENT TO CREDIT AGREEMENT

     THIS FIRST AMENDMENT TO CREDIT AGREEMENT (this “First Amendment”), dated as of April
26, 2006, is among RADIO ONE, INC., a Delaware corporation (the “Borrower”), the several
Lenders (as such term is defined in the hereinafter described Credit Agreement) parties to this
First Amendment, and WACHOVIA BANK, NATIONAL ASSOCIATION, as Administrative Agent for the Lenders
(in such capacity, the “Administrative Agent”).

R E C I T A L S:

     A. The Borrower, the Administrative Agent, Bank of America, N.A., as Syndication Agent, and
Credit Suisse, Merrill Lynch, Pierce Fenner & Smith Incorporated, and SunTrust Bank, as
Co-Documentation Agents, and the several Lenders parties thereto entered into that certain Credit
Agreement dated as of June 13, 2005 (as the same may be amended, restated or modified from time to
time, the “Credit Agreement”). Capitalized terms used and not otherwise defined herein
shall have the meanings ascribed to them in the Credit Agreement.

     B. The Borrower has advised the Administrative Agent that it desires to amend the Credit
Agreement to modify certain financial covenants and reporting requirements of Reach Media under the
Credit Agreement.

     C. The Required Lenders parties to this First Amendment are willing to agree to the
above-described amendments, subject to the performance and observance in full of each of the
covenants, terms and conditions, and in reliance upon all of the representations and warranties of
the Borrower, set forth herein.

     NOW, THEREFORE, in consideration of the premises and the covenants, terms and conditions, and
in reliance upon the representations and warranties, in each case contained herein, the parties
hereto agree hereby as follows:

ARTICLE I

Amendments

     Section 1.01 Amendment to Section 5.01(c). Section 5.01(c) of the Credit Agreement is
hereby amended to read in its entirety as follows:

     (c) within 45 days after the end of each of the first three fiscal quarters of
each fiscal year of Reach Media, and within 90 days after the end of each fiscal
year of Reach Media, the consolidated balance sheet of Reach Media and its
Subsidiaries and related statements of operations, stockholders’ equity and cash
flows as of the end of and for such fiscal quarter or fiscal year and the then
elapsed portion of the fiscal year, if applicable, setting forth in each case in
comparative form the figures for the corresponding period or periods of (or, in the
case of the balance sheet, as of the end of) the previous fiscal year, all certified
by one of its Financial Officers as presenting fairly in all material respects the
financial condition and results of operations of Reach Media and its consolidated

FIRST AMENDMENT TO CREDIT AGREEMENT — PAGE 1

 

 

Subsidiaries on a consolidated basis in accordance with GAAP consistently
applied, along with a report with financial information sufficient to reflect the
financial condition of Reach Media and its Subsidiaries net of any intercompany
transactions with the Borrower and the other Subsidiaries, in form and substance
satisfactory to the Administrative Agent; provided, that the Borrower shall
not be required to provide any such comparative figures or financial information in
respect of any period or periods prior to the date of the Borrower’s initial
investment in Reach Media;

     Section 1.02 Amendment to Section 6.01(a). Section 6.01(a) of the Credit Agreement is
hereby amended and restated to read in its entirety as follows:

     (a) Interest Coverage Ratio. The Borrower will not permit the Interest
Coverage Ratio at any time during any period set forth below to be less than the
ratio set forth opposite such period:

	 	 	 
	Period	 	Ratio
	January 1, 2006 through and including December 31, 2007

	 	1.90 to 1.00
	January 1, 2008 through and including December 31, 2008

	 	2.25 to 1.00
	January 1, 2009 and thereafter

	 	2.50 to 1.00

     Section 1.03 Amendment to Section 6.01(b). Section 6.01(b) of the Credit Agreement is
hereby amended and restated to read in its entirety as follows:

     (b) Total Leverage Ratio. The Borrower will not permit the Total
Leverage Ratio at any time during any period set forth below to be more than the
ratio set forth opposite such period:

	 	 	 
	Period	 	Ratio
	January 1, 2006 through and including March 31, 2006

	 	6.50 to 1.00
	April 1, 2006 through and including December 31, 2007

	 	7.00 to 1.00
	January 1, 2008 and thereafter

	 	6.00 to 1.00

FIRST AMENDMENT TO CREDIT AGREEMENT — PAGE 2

 

 

ARTICLE II

Conditions Precedent

     Section 2.01 Conditions Precedent. The parties hereto agree that this First Amendment
and the amendment to the Credit Agreement contained herein shall not be effective until the
satisfaction of each of the following conditions precedent:

     (a) Execution and Delivery of this First Amendment. The Administrative Agent
shall have received a copy of this First Amendment executed and delivered by each of the
applicable Loan Parties and by all the Required Lenders and each of the conditions set forth
in clauses (b) through (e) below shall have been satisfied.

     (b) Representations and Warranties. Each of the representations and warranties
made in this First Amendment shall be true and correct on and as of the Effective Date as if
made on and as of such date, both before and after giving effect to this First Amendment.

     (c) Amendment Fee. The Borrower shall pay to the Administrative Agent for the
account of each Lender executing this First Amendment a nonrefundable amendment fee in the
amount of 0.05% of the sum of (i) such Lender’s Revolving Commitment plus (ii) such Lender’s
Term Loan.

     (d) Fees and Expenses. The Borrower shall pay the invoiced fees, costs and
out-of-pocket expenses incurred by counsel to the Administrative Agent in connection with
the preparation, negotiation, execution and delivery of this First Amendment and all
transactions contemplated hereby and thereby.

     (e) Other Documents and Instruments. The Administrative Agent shall have
received, in form and substance satisfactory to the Administrative Agent and its counsel,
such other documents, certificates and instruments as the Administrative Agent shall
require.

ARTICLE III

Representations and Warranties

     Section 3.01 Representations and Warranties. To induce the Administrative Agent and
the several Lenders parties hereto to enter into this First Amendment and to grant the amendments
contained herein, the Borrower represents and warrants to the Administrative Agent and the Lenders
as follows:

     (a) Authorization; No Contravention. The execution, delivery and performance
by the applicable Loan Parties of this First Amendment have been duly authorized by all
necessary partnership, corporate or limited liability company action, as applicable, and do
not and will not (i) contravene the terms of any Charter Documents of any Loan Party, (ii)
conflict with or result in any breach or contravention of, or the creation of any Lien
under, any document evidencing any Obligation to which any Loan

FIRST AMENDMENT TO CREDIT AGREEMENT — PAGE 3

 

 

Party is a party or any order, injunction, writ or decree of any Governmental Authority
to which any Loan Party is a party or its property is subject, or (iii) violate any
requirement of law.

     (b) Governmental Authorization. No approval, consent, exemption, authorization
or other action by, or notice to, or filing with or approvals required under state blue sky
securities laws or by any Governmental Authority is necessary or required in connection with
the execution, delivery, performance or enforcement of this First Amendment.

     (c) No Default. After giving effect to this First Amendment, no Default or
Event of Default exists under any of the Loan Documents. No Loan Party is in default under
or with respect to (i) its charter documents or (ii) any Material Indebtedness of such
Person. The execution, delivery and performance of this First Amendment shall not result in
any default under any Material Indebtedness of any Loan Party in any respect.

     (d) Binding Effect. This First Amendment and the Credit Agreement as amended
hereby constitute the legal, valid and binding obligations of the Loan Parties that are
parties thereto, enforceable against such Loan Parties in accordance with their respective
terms, except as enforceability may be limited by applicable bankruptcy, insolvency, or
similar laws affecting the enforcement of creditors’ rights generally or by equitable
principles of general applicability.

     (e) Representations and Warranties. The representations and warranties set
forth in the Credit Agreement and the other Loan Documents are true and correct in all
material respects on and as of the date hereof, after giving effect to the amendments
contemplated in this First Amendment, as if such representations and warranties were being
made on and as of the date hereof, in each case except to the extent any such representation
or warranty is stated to relate to an earlier date, in which case such representation or
warranty shall have been true and correct on and as of such earlier date.

ARTICLE IV

Miscellaneous

     Section 4.01 Ratification of Loan Documents. Except for the specific amendments
expressly set forth in this First Amendment, the terms, provisions, conditions and covenants of the
Credit Agreement and the other Loan Documents remain in full force and effect and are hereby
ratified and confirmed, and the execution, delivery and performance of this First Amendment shall
not in any manner operate as a waiver of, consent to or amendment of any other term, provision,
condition or covenant of the Credit Agreement or any other Loan Document.

     Section 4.02 Fees and Expenses. The Borrower agrees to pay promptly following demand
therefor all reasonable costs and expenses of the Administrative Agent in connection with the
preparation, reproduction, execution, and delivery of this First Amendment, and any

FIRST AMENDMENT TO CREDIT AGREEMENT — PAGE 4

 

 

other documents prepared in connection herewith or therewith, including, without limitation,
the reasonable fees and out-of-pocket expenses of counsel for the Administrative Agent.

     Section 4.03 Headings. Article, section and subsection headings in this First
Amendment are included herein for convenience of reference only and shall not constitute a part of
this First Amendment for any other purpose or be given any substantive effect.

     Section 4.04 Applicable Law. THIS FIRST AMENDMENT SHALL BE GOVERNED BY, AND SHALL BE
CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO
CONFLICTS OF LAW PRINCIPLES.

     Section 4.05 Counterparts and Effective Date. This First Amendment may be executed in
any number of counterparts and by different parties hereto in separate counterparts, each of which
when so executed and delivered shall be deemed an original, but all such counterparts together
shall constitute but one and the same instrument; signature pages may be detached from multiple
separate counterparts and attached to a single counterpart so that all signature pages are
physically attached to the same document. This First Amendment shall become effective when the
Administrative Agent has received counterparts of this First Amendment executed by the Borrower and
the Required Lenders and each of the conditions precedent set forth in Article II above has
been satisfied (the “Effective Date”).

     Section 4.06 Affirmation of Guarantees. Notwithstanding that such consent is not
required thereunder, each of the Guarantors hereby consent to the execution and delivery of this
First Amendment and reaffirm their respective obligations under the Guarantee and Collateral
Agreement.

     Section 4.07 Confirmation of Loan Documents and Liens. As a material inducement to
the Lenders to agree to amend the Credit Agreement as set forth herein, the Borrower and Guarantors
hereby (i) acknowledge and confirm the continuing existence, validity and effectiveness of the Loan
Documents to which they are parties, including, without limitation the Guarantee and Collateral
Agreement and the Liens granted under the Guarantee and Collateral Agreement, (ii) agree that the
execution, delivery and performance of this First Amendment shall not in any way release, diminish,
impair, reduce or otherwise adversely affect such Loan Documents and Liens and (iii) acknowledge
and agree that the Liens granted under the Guarantee and Collateral Agreement secure (A) the
payment of the Obligations under the Loan Documents in the same priority as on the date such Liens
were created and perfected, and (B) the performance and observance by the Borrower and the other
Loan Parties of the covenants, agreements and conditions to be performed and observed by each under
the Credit Agreement, as amended hereby.

     Section 4.08 References to the Credit Agreement. Upon and during the effectiveness of
this First Amendment, each reference in the Credit Agreement to “this Agreement”, “hereunder”, or
words of like import shall mean and be a reference to the Credit Agreement, as amended by this
First Amendment.

FIRST AMENDMENT TO CREDIT AGREEMENT — PAGE 5

 

 

     Section 4.09 Final Agreement. THIS FIRST AMENDMENT, TOGETHER WITH THE CREDIT
AGREEMENT AND OTHER LOAN DOCUMENTS, REPRESENTS THE FINAL AGREEMENT BETWEEN 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 BETWEEN THE PARTIES.

[Remainder of Page Intentionally Left Blank]

FIRST AMENDMENT TO CREDIT AGREEMENT — PAGE 6

 

 

     IN WITNESS WHEREOF, the parties hereto have caused this First Amendment to be duly executed
and delivered by their proper and duly authorized officers effective as of the Effective Date.

	 	 	 	 	 
	 	BORROWER:

RADIO ONE, INC.

 	 
	 	By:  	/s/ SCOTT R. ROYSTER
 	 
	 	 	Name:  	SCOTT R. ROYSTER 	 
	 	 	Title:  	EXECUTIVE VP & CFO 	 
	 

FIRST AMENDMENT TO CREDIT AGREEMENT — SIGNATURE PAGE

 

 

	 	 	 	 	 
	 	OTHER GUARANTORS

(for purposes of Article IV hereof):

RADIO ONE, INC.

RADIO ONE LICENSES, LLC

BELL BROADCASTING COMPANY

RADIO ONE OF DETROIT, LLC

RADIO ONE OF ATLANTA, LLC

ROA LICENSES, LLC

RADIO ONE OF CHARLOTTE, LLC

CHARLOTTE BROADCASTING, LLC

RADIO ONE OF NORTH CAROLINA, LLC

RADIO ONE OF AUGUSTA, LLC

RADIO ONE OF BOSTON, INC.

RADIO ONE OF BOSTON LICENSES, LLC

RADIO ONE OF INDIANA, LLC

RADIO ONE OF TEXAS I, LLC

RADIO ONE OF TEXAS II, LLC

BLUE CHIP BROADCASTING, LTD.

BLUE CHIP BROADCASTING LICENSES, LTD.

SATELLITE ONE, L.L.C.

HAWES-SAUNDERS BROADCAST

     PROPERTIES, INC.

RADIO ONE OF DAYTON LICENSES, LLC

NEW MABLETON BROADCASTING

     CORPORATION

RADIO ONE MEDIA HOLDINGS, LLC

 	 
	 	By:  	/s/ SCOTT R. ROYSTER
 	 
	 	 	Name:  	SCOTT R. ROYSTER                                           	 
	 	 	Title:  	EXECUTIVE VP & CFO 	 
	 
	 	RADIO ONE OF INDIANA, L.P.

By:   Radio One, Inc.,

         its general partner

 	 
	 	By:  	/s/ SCOTT R. ROYSTER
 	 
	 	 	Name:  	SCOTT R. ROYSTER                                                      	 
	 	 	Title:  	EXECUTIVE VP & CFO 	 
	 

FIRST AMENDMENT TO CREDIT AGREEMENT — SIGNATURE PAGE

 

 

	 	 	 	 	 
	 	RADIO ONE OF TEXAS, L.P.

By:   Radio One of Texas I, LLC,

         its general partner

 	 
	 	By:  	/s/ SCOTT R. ROYSTER
 	 
	 	 	Name:  	SCOTT R. ROYSTER 	 
	 	 	Title:  	EXECUTIVE VP & CFO 	 
	 
	 	SYNDICATION ONE, INC.

 	 
	 	By:  	/s/ SCOTT R. ROYSTER
 	 
	 	 	Name:  	SCOTT R. ROYSTER 	 
	 	 	Title:  	EXECUTIVE VP & CFO 	 
	 

FIRST AMENDMENT TO CREDIT AGREEMENT — SIGNATURE PAGE

 

 

	 	 	 	 	 
	 	ADMINISTRATIVE AGENT, SYNDICATION AGENT,
CO-DOCUMENTATION AGENTS, ISSUING BANK AND LENDERS:

WACHOVIA BANK, NATIONAL ASSOCIATION,

as Administrative Agent, Issuing Bank

and as a Lender

 	 
	 	By:  	/s/
 RUSS LYONS	 
	 	 	Name:  	  RUSS LYONS	 
	 	 	Title:  	Director 	 
	 

FIRST AMENDMENT TO CREDIT AGREEMENT — SIGNATURE PAGE

 

 

	 	 	 	 	 
	 	BANK OF AMERICA, N.A.,

as Syndication Agent, Issuing Bank and as a Lender

 	 
	 	By:  	/s/ TODD SHIPLEY
 	 
	 	 	Name:  	Todd Shipley 	 
	 	 	Title:  	Senior Vice President 	 
	 

FIRST AMENDMENT TO CREDIT AGREEMENT — SIGNATURE PAGE

 

 

	 	 	 	 	 
	 	CREDIT SUISSE, CAYMAN ISLANDS BRANCH,

as Co-Documentation Agent and as a Lender

 	 
	 	By:  	/s/ DOREEN BARR, DENISE L. ALVAREZ
 	 
	 	 	Name:  	DOREEN BARR, DENISE L. ALVAREZ   	 
	 	 	Title:  	VICE PRESIDENT, ASSOCIATE 	 
	 

FIRST AMENDMENT TO CREDIT AGREEMENT — SIGNATURE PAGE

 

 

	 	 	 	 	 
	 	MERRILL LYNCH, PIERCE FENNER & SMITH INCORPORATED,

as Co-Documentation Agent

 	 
	 	By:  	/s/ NANCY MEADOWS
 	 
	 	 	Name:  	Nancy Meadows 	 
	 	 	Title:  	Vice President 	 
	 

FIRST AMENDMENT TO CREDIT AGREEMENT — SIGNATURE PAGE

 

 

	 	 	 	 	 
	 	SUNTRUST BANK,

as Co-Documentation Agent and as a Lender

 	 
	 	By:  	/s/ BRIAN COMBS
 	 
	 	 	Name:  	Brian Combs 	 
	 	 	Title:  	Director 	 
	 

FIRST AMENDMENT TO CREDIT AGREEMENT — SIGNATURE PAGE

 

 

	 	 	 	 	 
	 	MERRILL LYNCH CAPITAL CORPORATION,

as a Lender

 	 
	 	By:  	/s/ NANCY MEADOWS
 	 
	 	 	Name:  	NANCY MEADOWS 	 
	 	 	Title:  	Vice President 	 
	 

FIRST AMENDMENT TO CREDIT AGREEMENT — SIGNATURE PAGE

 

 

	 	 	 	 	 
	 	ROYAL BANK OF SCOTLAND PLC,

as a Lender

 	 
	 	By:  	/s/ ANDREW WYNN
 	 
	 	 	Name:  	Andrew Wynn 	 
	 	 	Title:  	Managing Director 	 
	 

FIRST AMENDMENT TO CREDIT AGREEMENT — SIGNATURE PAGE

 

 

	 	 	 	 	 
	 	BANK OF SCOTLAND,

as a Lender

 	 
	 	By:  	/s/ KAREN WEICH
 	 
	 	 	Name:  	KAREN WEICH 	 
	 	 	Title:  	ASSISTANT VICE PRESIDENT 	 
	 

FIRST AMENDMENT TO CREDIT AGREEMENT — SIGNATURE PAGE

 

 

	 	 	 	 	 
	 	THE BANK OF NEW YORK,

as a Lender

 	 
	 	By:  	/s/ EDWARD M. VIETOR
 	 
	 	 	Name:  	Edward M. Vietor 	 
	 	 	Title:  	Vice President 	 
	 

FIRST AMENDMENT TO CREDIT AGREEMENT — SIGNATURE PAGE

 

 

	 	 	 	 	 
	 	CALYON NEW YORK BRANCH,

as a Lender

 	 
	 	By:  	/s/ TANYA CROSSLEY
 	 
	 	 	Name:  	Tanya Crossley 	 
	 	 	Title:  	Managing Director 	 
	 
	 	 	 
	 	By:  	                                              /s/ JOHN MCCLOCKEY
 	 
	 	 	Name:  	John
McClockey 	 
	 	 	Title:  	Managing Director 	 
	 

FIRST AMENDMENT TO CREDIT AGREEMENT — SIGNATURE PAGE

 

 

	 	 	 	 	 
	 	GENERAL ELECTRIC CAPITAL

CORPORATION, as a Lender

 	 
	 	By:  	/s/ KARL KIEFFER
 	 
	 	 	Name:  	Karl Kieffer 	 
	 	 	Title:  	Duly Authorized Signatory 	 
	 

FIRST AMENDMENT TO CREDIT AGREEMENT — SIGNATURE PAGE

 

 

	 	 	 	 	 
	 	JPMORGAN CHASE BANK, N.A.,

as a Lender

 	 
	 	By:  	/s/ CHRISTOPHA VOHMANN
 	 
	 	 	Name:  	Christopha Vohmann 	 
	 	 	Title:  	Vice President 	 
	 

FIRST AMENDMENT TO CREDIT AGREEMENT — SIGNATURE PAGE

 

 

	 	 	 	 	 
	 	COOPERATIEVE CENTRALE
 RAIFFEISEN-BOERENLEEN BANK
 B.A., “RABOBANK INTERNATIONAL”,
 NEW YORK BRANCH,

as a Lender

 	 
	 	By:  	/s/ MICHAEL PHELAN
 	 
	 	 	Name:  	Michael Phelan 	 
	 	 	Title:  	Executive Director 	 
	 
	 	 	 
	 	By:  	                                              /s/ BRETT DELFINO
 	 
	 	 	Name:  	Brett Delfino 	 
	 	 	Title:  	Executive Director 	 
	 

FIRST AMENDMENT TO CREDIT AGREEMENT — SIGNATURE PAGE

 

 

	 	 	 	 	 
	 	NATIONAL CITY BANK,

as a Lender

 	 
	 	By:  	/s/ ELIZABETH A. BROSKY
 	 
	 	 	Name:  	ELIZABETH A. BROSKY 	 
	 	 	Title:  	VICE PRESIDENT 	 
	 

FIRST AMENDMENT TO CREDIT AGREEMENT — SIGNATURE PAGE

 

 

	 	 	 	 	 
	 	ALLIED IRISH BANK PLC,

as a Lender

 	 
	 	By:  	/s/ JOSEPH S. AUGUSTINI
 	 
	 	 	Name:  	Joseph S. Augustini 	 
	 	 	Title:  	Vice President 	 
	 
	 	 	 
	 	By:  	/s/ ROISIN O'CONNELL 	 
	 	 	Name:  	Roisin
O'Connell 	 
	 	 	Title:  	Vice President 	 
	 

FIRST AMENDMENT TO CREDIT AGREEMENT — SIGNATURE PAGE

 

 

	 	 	 	 	 
	 	CREDIT INDUSTRIEL et COMMERCIAL,

as a Lender

 	 
	 	By:  	/s/ MARCUS EDWARD, BRIAN O'LEARY
 	 
	 	 	Name:  	Marcus Edward, Brian O'Leary 	 
	 	 	Title:  	Vice President, Vice President 	 
	 

FIRST AMENDMENT TO CREDIT AGREEMENT — SIGNATURE PAGE

 

 

	 	 	 	 	 
	 	COMMERZBANK AG, New York and

Grand Cayman Branches,

as a Lender

 	 
	 	By:  	/s/ ISABEL S. ZEISSIG
 	 
	 	 	Name:  	Isabel S. Zeissig 	 
	 	 	Title:  	Vice President 	 
	 
	 	 	 
	 	By:  	                                              /s/ CHARLES W. POLET
 	 
	 	 	Name:  	Charles W. Polet 	 
	 	 	Title:  	Assisant Treasurer 	 
	 

FIRST AMENDMENT TO CREDIT AGREEMENT — SIGNATURE PAGE

 

 

	 	 	 	 	 
	 	HARRIS NESBITT FINANCING, INC.,

as a Lender

 	 
	 	By:  	/s/ MICHAEL SILVERMAN
 	 
	 	 	Name:  	Michael Silverman 	 
	 	 	Title:  	Managing Director 	 
	 

FIRST AMENDMENT TO CREDIT AGREEMENT — SIGNATURE PAGE

 

 

	 	 	 	 	 
	 	ING CAPITAL, LLC,

as a Lender

 	 
	 	By:  	/s/ WILLIAM C. JAMES
 	 
	 	 	Name:  	William C. James 	 
	 	 	Title:  	Managing Director 	 
	 

FIRST AMENDMENT TO CREDIT AGREEMENT — SIGNATURE PAGE

 

 

	 	 	 	 	 
	 	MIZUHO CORPORATE BANK, LTD.,

as a Lender

 	 
	 	By:  	/s/ RAYMOND VENTURA
 	 
	 	 	Name:  	Raymond Ventura 	 
	 	 	Title:  	Deputy General Manager 	 
	 

FIRST AMENDMENT TO CREDIT AGREEMENT — SIGNATURE PAGE

 

 

	 	 	 	 	 
	 	SUMITOMO MITSUI BANKING CORPORATION, NEW YORK,

as a Lender

 	 
	 	By:  	/s/ SHIGERU TSURU
 	 
	 	 	Name:  	Shigeru Tsuru 	 
	 	 	Title:  	Joint General Manager 	 
	 

FIRST AMENDMENT TO CREDIT AGREEMENT — SIGNATURE PAGE

 

 

	 	 	 	 	 
	 	UNION BANK OF CALIFORNIA, N.A.,

as a Lender

 	 
	 	By:  	/s/ ERIK ALLEN
 	 
	 	 	Name:  	ERIK ALLEN 	 
	 	 	Title:  	AVP 	 
	 

FIRST AMENDMENT TO CREDIT AGREEMENT — SIGNATURE PAGE

 

 

	 	 	 	 	 
	 	U.S. BANK NATIONAL ASSOCIATION,

as a Lender

 	 
	 	By:  	/s/ KEITH KUBOTA
 	 
	 	 	Name:  	Keith Kubota 	 
	 	 	Title:  	Vice President 	 
	 

FIRST AMENDMENT TO CREDIT AGREEMENT — SIGNATURE PAGE

 

 

	 	 	 	 	 
	 	BANK OF TOKYO-MITSUBISHI UFJ TRUST COMPANY,

as a Lender

 	 
	 	By:  	/s/ ANNA GILLER
 	 
	 	 	Name:  	Anna Giller 	 
	 	 	Title:  	Vice President 	 
	 

FIRST AMENDMENT TO CREDIT AGREEMENT — SIGNATURE PAGE

 

 

	 	 	 	 	 
	 	WEBSTER BANK, NATIONAL ASSOCIATION,

as a Lender

 	 
	 	By:  	/s/ JOHN GILSENAN
 	 
	 	 	Name:  	John Gilsenan 	 
	 	 	Title:  	Vice President 	 
	 

FIRST AMENDMENT TO CREDIT AGREEMENT — SIGNATURE PAGE

 

 

	 	 	 	 	 
	 	THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.

as a Lender

 	 
	 	By:  	/s/ ANNA GILLER
 	 
	 	 	Name:  	Anna Giller 	 
	 	 	Title:  	Vice President 	 
	 

FIRST AMENDMENT TO CREDIT AGREEMENT — SIGNATURE PAGE

 

 

	 	 	 	 	 
	 	AIB DEBT MANAGEMENT LIMITED,

as a Lender

 	 
	 	By:  	/s/ JOSEPH AUGUSTINI
 	 
	 	 	Name:  	Joseph Augustini 	 
	 	 	Title:  	Vice President

	 
	 	 	  	
Investment Advisor to

AIB Debt Management, Limited 	 
	 
	 	 	 
	 	By:  	                                              /s/ ROISIN O'CONNELL
 	 
	 	 	Name:  	Roisin O'Connell 	 
	 	 	Title:  	Vice President
	 
	 	 	  	Investment Advisor to 
AIB Debt Management, Limited 
	 
	 

FIRST AMENDMENT TO CREDIT AGREEMENT — SIGNATURE PAGEexv4w21

 

Exhibit 4.21

CERTIFICATE OF DESIGNATIONS

of

SERIES A JUNIOR PARTICIPATING PREFERRED STOCK

of

APACHE MEDICAL SYSTEMS, INC.

(Pursuant to Section 151 of the

Delaware General Corporation Law)

 

     APACHE Medical Systems, Inc., a corporation organized and existing under the General
Corporation Law of the State of Delaware (hereinafter called the “Corporation”), hereby certifies
that the following resolution was adopted by the Board of Directors of the Corporation as required
by Section 151 of the General Corporation Law on May 29, 1997:

     RESOLVED, that pursuant to the authority granted to and vested in
the Board of Directors of this Corporation (hereinafter called the “Board
of Directors” or the “Board”) in accordance with the provisions of the
Amended and Restated Certificate of Incorporation, the Board of Directors
hereby creates a series of Preferred Stock, par value $0.01 per share
(the “Preferred Stock”), of the Corporation and hereby states the
designation and number of shares, and fixes the relative rights,
preferences, and limitations thereof as follows:

Series A Junior Participating Preferred Stock:

Section 1. Designation and Amount. The shares of such series shall be
designated as “Series A Junior Participating Preferred
Stock” (the “Series A
Preferred Stock”) and the number of shares constituting the Series A Preferred Stock shall be
30,000. Such number of shares may be increased or decreased by resolution of the Board of
Directors; provided, that no decrease shall reduce the number of shares of Series A Preferred Stock
to a number less than the number of shares then outstanding plus the number of shares reserved for
issuance upon the exercise of outstanding options, rights or warrants or upon the conversion of any
outstanding securities issued by the Corporation convertible into Series A Preferred Stock.

Section 2. Dividends and Distributions.

     (A) Subject to the rights of the holders of any shares of any series
of Preferred Stock (or any similar stock) ranking prior and superior to
the Series A Preferred Stock with respect to dividends, the
holders of
shares of Series A Preferred Stock, in preference to the holders of
Common Stock, par value $0.01 per share (the “Common Stock”), of the
Corporation, and of any other junior stock, shall be entitled to receive,
when, as and if declared by the Board of Directors out of funds legally
available for the purpose, quarterly dividends payable in cash on the
first day of March, June, September and December in each year (each such
date being referred to herein as a “Quarterly Dividend Payment Date”),
commencing on the first Quarterly Dividend Payment Date after the first

 

 

issuance of a share or fraction of a share of Series A Preferred Stock,
in an amount per share (rounded to the nearest cent) equal to the greater
of (a) $1 or (b) subject to the provision for adjustment hereinafter set
forth, 1,000 times the aggregate per share amount of all cash dividends,
and 1,000 times the aggregate per share amount (payable in kind) of all
non-cash dividends or other distributions, other than a dividend payable
in shares of Common Stock or a subdivision of the outstanding shares of
Common Stock (by reclassification or otherwise), declared on the Common
Stock since the immediately preceding Quarterly Dividend Payment Date or,
with respect to the first Quarterly Dividend Payment Date, since the
first issuance of any share or fraction of a share of Series A Preferred
Stock. In the event the Corporation shall at any time declare or pay any
dividend on the Common Stock payable in shares of Common Stock, or effect
a subdivision or combination or consolidation of the outstanding shares
of Common Stock (by reclassification or otherwise than by payment of
a
dividend in shares of Common Stock) into a greater or lesser number of
 shares of Common Stock, then in each such case the amount to which
holders of shares of Series A Preferred Stock were entitled immediately
prior to such event under clause (b) of the preceding sentence shall be
adjusted by multiplying such amount by a fraction, the numerator of which
is the number of shares of Common Stock outstanding immediately after
such event and the denominator of which is the number of shares of Common
Stock that were outstanding immediately prior to such event.

     (B) The Corporation shall declare a dividend or distribution on the
Series A Preferred Stock as provided in paragraph (A) of this Section
immediately after it declares a dividend or distribution on the Common
Stock (other than a dividend payable in shares of Common Stock); provided
that, in the event no dividend or distribution shall have been declared
on the Common stock during the period between any Quarterly Dividend
Payment Date and the next subsequent Quarterly Dividend Payment Date, a
dividend of $1 per share on the Series A Preferred Stock shall
nevertheless be payable on such subsequent Quarterly Dividend Payment
Date.

     (C) Dividends shall begin to accrue and be cumulative on outstanding
 shares of Series A Preferred Stock from the Quarterly Dividend Payment
Date next preceding the date of issue of such shares, unless the date of
issue of such shares is prior to the record date for the first Quarterly
Dividend Payment Date, in which case dividends on such shares shall begin
to accrue from the date of issue of such shares, or unless the date of
issue is a Quarterly Dividend Payment Date or is a date after the record
date for the determination of holders of shares of Series A Preferred
Stock entitled to receive a quarterly dividend and before such Quarterly
Dividend Payment Date, in either of which events such dividends shall
begin to accrue and be cumulative from such Quarterly Dividend Payment
Date. Accrued but unpaid dividends shall not bear interest. Dividends
paid on the shares of Series A Preferred Stock in an amount less than the
total amount of such dividends at the time accrued and payable on such
 shares shall be allocated pro rata on a share-by-share basis among all
such shares at the time outstanding. The Board of Directors may fix a
record date for the determination of holders of shares of Series A
Preferred Stock entitled to receive payment of a dividend or distribution
declared thereon, which record date shall be not more than 60 days prior
to the date fixed for the payment thereof.

Section 3. Voting Rights. The holders of shares of Series A Preferred

 

 

Stock shall have the following voting rights:

     (A) Subject to the provision for adjustment hereinafter set forth,
each share of Series A Preferred Stock shall entitle the holder thereof
to 1,000 votes on all matters submitted to a vote of the stockholders of
the Corporation. In the event the Corporation shall at any time declare
or pay any dividend on the Common Stock payable in shares of Common
Stock, or effect a subdivision or combination or consolidation of the
outstanding shares of Common Stock (by reclassification or otherwise than
by payment of a dividend in shares of Common Stock) into a greater or
lesser number of shares of Common Stock, then in each such case the
number of votes per share to which holders of shares of Series A
Preferred Stock were entitled immediately prior to such event shall be
adjusted by multiplying such number by a fraction, the numerator of which
is the number of shares of Common Stock outstanding immediately after
such event and the denominator of which is the number of shares of Common
Stock that were outstanding immediately prior to such event.

     (B) Except as otherwise provided herein, in any other Certificate of
Designations creating a series of Preferred Stock or any similar stock,
or by law, the holders of shares of Series A Preferred Stock and the
holders of shares of Common Stock and any other capital stock of the
Corporation having general voting rights shall vote together as one class
on all matters submitted to a vote of stockholders of the Corporation.

     (C) Except as set forth herein, or as otherwise provided by law,
holders of Series A Preferred Stock shall have no special voting rights
and their consent shall not be required (except to the extent they are entitled to vote with
holders of Common Stock as set forth herein) for taking any corporate action.

Section 4. Certain Restrictions.

     (A) Whenever quarterly dividends or other dividends or distributions
payable on the Series A Preferred Stock as provided in Section 2 are in
arrears, thereafter and until all accrued and unpaid dividends and
distributions, whether or not declared, on shares of Series A Preferred
Stock outstanding shall have been paid in full, the Corporation shall
not:

     (i) declare or pay dividends, or make any other distributions,
on any shares of stock ranking junior (either as to dividends or
upon liquidation, dissolution or winding up) to the Series A
Preferred Stock;

     (ii)
declare or pay dividends, or make any other
distributions, on any shares of stock ranking on a parity (either
as to dividends or upon liquidation, dissolution or winding up)
with the Series A Preferred Stock, except dividends paid ratably on
the Series A Preferred Stock and all such parity stock on which
dividends are payable or in arrears in proportion to the total
amounts to which the holders of all such shares are then entitled;

     (iii) redeem or purchase or otherwise acquire for
consideration shares of any stock ranking junior (either as to
dividends or upon liquidation, dissolution or winding up) to the
Series A Preferred Stock, provided that the Corporation may at any

 

 

time redeem, purchase or otherwise acquire shares of any such
junior stock in exchange for shares of any stock of the Corporation
ranking junior (either as to dividends or upon dissolution,
liquidation or winding up) to the Series A Preferred Stock; or

     (iv) redeem or purchase or otherwise acquire for consideration
any shares of Series A Preferred Stock, or any shares of stock
ranking on a parity with the Series A Preferred Stock, except in
accordance with a purchase offer made in writing or by publication
(as determined by the Board of Directors) to all holders of such
 shares upon such terms as the Board of Directors, after
consideration of the respective annual dividend rates and other
relative rights and preferences of the respective series and
classes, shall determine in good faith will result in fair and
equitable treatment among the respective series or classes.

     (B) The Corporation shall not permit any subsidiary of the
Corporation to purchase or otherwise acquire for consideration any shares

of stock of the Corporation unless the Corporation could, under paragraph
(A) of this Section 4, purchase or otherwise acquire such shares at such
time and in such manner.

     Section 5. Required Shares. Any shares of Series A Preferred Stock
purchased or otherwise acquired by the Corporation in any manner
whatsoever
shall be retired and canceled promptly after the acquisition thereof. All such shares shall upon
their cancellation become authorized but unissued shares of Preferred Stock and may be reissued as
part of a new series of Preferred Stock subject to the conditions and restrictions on issuance set
forth herein, in the Amended and Restated Certificate of Incorporation, or in any other Certificate
of Designations creating a series of Preferred Stock or any similar stock or as otherwise required
by law.

     Section 6. Liquidation, Dissolution or Winding Up. Upon any liquidation, dissolution
or winding up of the Corporation, no distribution shall be made (1) to the holders of shares of
stock ranking junior (either as to dividends or upon liquidation, dissolution or winding up) to the
Series A Preferred Stock unless, prior thereto, the holders of shares of Series A Preferred Stock
shall have received $1,000 per share, plus an amount equal to accrued and unpaid dividends and
distributions thereon, whether or not declared, to the date of such payment, provided that the
holders of shares of Series A Preferred Stock shall be entitled to receive an aggregate amount per
share, subject to the provision for adjustment hereinafter set forth, equal to 1,000 times the
aggregate amount to be distributed per share to holders of shares of Common Stock, or (2) to the
holders of shares of stock ranking on a parity (either as to dividends or upon liquidation,
dissolution or winding up) with the Series A Preferred Stock, except distributions made ratably on
the Series A Preferred Stock and all such parity stock in proportion to the total amounts to which
the holders of all such shares are entitled upon such liquidation, dissolution or winding up. In
the event the Corporation shall at any time declare or pay any dividend on the Common Stock payable
in shares of Common Stock, or effect a subdivision or combination or consolidation of the
outstanding shares of Common Stock (by reclassification or otherwise than by payment of a dividend
in shares of Common Stock) into a greater or lesser number of shares of Common Stock, then in each
such case the aggregate amount to which holders of shares of Series A Preferred Stock were entitled
immediately prior to such event under the proviso in clause (1) of the preceding sentence shall be
adjusted by multiplying such amount by a fraction

 

 

the numerator of which is the number of shares of Common stock outstanding immediately after such
event and the denominator of which is the number of shares of Common Stock that were outstanding
immediately prior to such event.

     Section 7. Consolidation, Merger, etc. In case the Corporation shall
enter into any consolidation, merger, combination or other transaction in which the shares of
Common Stock are exchanged for or changed into other stock or securities, cash and/or any other
property, then in any such case each share of Series A Preferred Stock shall at the same time be
similarly exchanged or changed into an amount per share, subject to the provision for adjustment
hereinafter set forth, equal to 1,000 times the aggregate amount of stock, securities, cash and/or
any other property (payable in kind), as the case may be, into which or for which each share of
Common Stock is changed or exchanged. In the event the Corporation shall at any time declare or pay
any dividend on the Common Stock payable in shares of Common Stock, or effect a subdivision or
combination or consolidation of the outstanding shares of Common Stock (by reclassification or
otherwise than by payment of a dividend in shares of Common Stock) into a greater or lesser number
of shares of Common Stock, then in each such case the amount set forth in the preceding sentence
with respect to the exchange or change of shares of Series A Preferred Stock shall be adjusted by
multiplying such amount by a fraction, the numerator of which is the number of shares of Common
Stock outstanding immediately after such event and the denominator of which is the number of shares
of Common Stock that were outstanding immediately prior to such event.

     Section 8. No Redemption. The shares of Series A Preferred Stock shall
not be redeemable.

     Section 9. Rank. The Series A Preferred Stock shall rank, with respect to
the payment of dividends and the distribution of assets, junior to
all series
of any other class of the Corporation’s Preferred Stock.

     Section 10. Amendment. The Amended and Restated Certificate of Incorporation of the
Corporation shall not be amended in any manner which would materially alter or change the powers,
preferences or special rights of the Series A Preferred Stock so as to affect them adversely
without the affirmative vote of the holders of at least two-thirds of the outstanding shares of
Series A Preferred Stock, voting together as a single class.

     IN WITNESS WHEREOF, this Certificate of Designations is executed on behalf
of the Corporation by its Chief Executive Officer and attested by its Secretary this 23rd day of
May, 1997.

	 	 	 	 	 
	 	APACHE MEDICAL SYSTEMS, INC.

 	 
	 	/s/ Gerald E. Bisbee, Jr., Ph.D.
 	 
	 	Name:  	Gerald E. Bisbee, Jr., Ph.D. 	 
	 	Title:  	Chairman, Chief Executive Officer &
President 	 
	 

	 	 	 
	/s/ Elizabeth A. Draper
	 	 

	 	 	 

	Name: Elizabeth A. Draper
	 	 

	Title: Secretary

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