Document:

EX-4.1

Exhibit 4.1

FIRST SUPPLEMENTAL INDENTURE

     SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as of January 23 2009,
among Centerplate, Inc. (the “Company”), a Delaware corporation formerly known as Volume
Services America Holdings, Inc., the subsidiaries of the Company listed on the signature pages
hereto (the “Guarantors”) and The Bank of New York Mellon, a New York banking corporation,
as trustee (the “Trustee”).

RECITALS

     WHEREAS, the Company, the Guarantors and the Trustee are parties to an Indenture dated
December 10, 2003 (as amended, supplemented, waived or otherwise modified, the “Indenture”)
providing for the issuance of an aggregate original principal amount of $95,677,065 of 13.5%
Subordinated Notes due 2013 (the “Notes”);

     WHEREAS, the Company and the Guarantors propose to amend the Indenture and the Notes (the
“Proposed Amendments”) as contemplated hereby;

     WHEREAS, the Company has solicited the consent of the Holders of the Notes pursuant to the
Offer to Purchase and Consent Solicitation Statement, dated December 23, 2008, as amended,
supplemented or modified (the “Consent Solicitation Statement”) to the Proposed Amendments
upon the terms and subject to the conditions set forth therein;

     WHEREAS, the Company has received and delivered to the Trustee evidence of the consent of the
Holders of at least a majority in aggregate principal amount of the Notes to the Proposed
Amendments;

     WHEREAS, the consent of the Holders of at least a majority in aggregate principal amount of
the Notes is sufficient under the Indenture to effect the Proposed Amendments;

     WHEREAS, the Supplemental Indenture does not adversely affect the rights under Articles 10 or
12 of the Indenture of any holder of Senior Indebtedness, as defined in the Indenture;

     WHEREAS, all other acts and proceedings required by law, by the Indenture, and by the
organizational documents of the Company and the Guarantors to make this Supplemental Indenture a
valid and binding agreement for the purposes expressed herein, in accordance with its terms, have
been duly done and performed;

     WHEREAS, while this Supplemental Indenture will become effective when executed, the terms
hereof will not become operative until the Notes are accepted for purchase by the Company pursuant
to the tender offer contemplated by the Consent Solicitation Statement (such acceptance date, the
“Operative Date”); and

     WHEREAS, pursuant to Section 9.02 of the Indenture, the Company and the Guarantors may amend
or supplement the Indenture and the Notes as contemplated hereby provided that the

 

 

Holders of at least a majority in aggregate principal amount of the Notes then outstanding have
consented.

     NOW, THEREFORE, in consideration of the foregoing and for other good and valuable
consideration, the receipt of which is hereby acknowledged, in order to effect the Proposed
Amendments pursuant to Section 9.02 of the Indenture, the Company and the Guarantors agree with the
Trustee as follows:

ARTICLE 1

AMENDMENT OF INDENTURE AND NOTES

     1.01. Effective as of the Operative Date, pursuant to Section 9.02 of the Indenture, this
Supplemental Indenture amends the Indenture and Notes as provided for herein.

     1.02. Amendment of Section 1.01. Section 1.01 of the Indenture is hereby amended as follows:

     (a) the definitions listed in Schedule 1.01 hereto are hereby deleted in their entirety;

     (b) the definitions listed in Schedule 1.01(A) hereto are hereby amended and restated as
described in Schedule 1.01A;

     1.03. Amendment of Section 1.02. Section 1.02 of the Indenture is hereby amended by deleting
in their entirety the references listed in Schedule 1.02 hereto;

     1.04. Amendment of Section 2.15. Section 2.15 of the Indenture is hereby amended and restated
as follows:

     Section 2.15. Extension of Maturity. The Company may irrevocably extend the maturity
date of the Securities for two additional successive five-year terms to December 10, 2018 and
December 10, 2023, respectively, if the following conditions are satisfied as of the date the
Company delivers to the Trustee the Officer’s Certificate described below:

     (1) during the twelve month period ending on the last day of the fiscal quarter ending at
least 45 days prior to the date such Officer’s Certificate is furnished to the Trustee, the ratio
of Net Debt to Adjusted EBITDA is less than 5.00 to 1.00;

     (2) no Event of Default (including certain events of bankruptcy, insolvency or reorganization
of the Company or a Significant Subsidiary) has occurred and is continuing with respect to the
Securities;

     (3) no Event of Default has occurred and is continuing with respect to any other Indebtedness
of the Company, or could occur as a result of such extension, including under any Designated Senior
Indebtedness; and

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     (4) there is no interest due but unpaid on the Securities or any other Indebtedness of the
Company, other than trade payables in an immaterial amount.

     If the Company determines to extend the maturity of the Securities, the Company, or the
Trustee at the Company’s direction, shall mail a notice of such extension, which notice shall
include the new maturity date, by first-class mail to each Holder at such Holder’s registered
address, at least 30 and not more than 200 days prior to the previous maturity date; provided that
in each such case, the Company shall deliver to the Trustee, at least 10 and not more than 15 days
prior to the proposed date for giving such notice, an Officer’s Certificate requesting that the
Trustee give such notice (or informing the Trustee that the Company is giving such notice, as
applicable) and setting forth the information required above. The extension of the maturity date
of the Securities shall become effective automatically upon delivery of such Officer’s Certificate
to the Trustee and, once effective, may not be revoked.

     1.05. Amendment of Section 4.02. Section 4.02 is hereby amended and restated as follows:

SECTION 4.02. [INTENTIONALLY OMITTED]

     1.06. Amendment of Section 4.03. Section 4.03 is hereby amended and restated as follows:

SECTION 4.03. [INTENTIONALLY OMITTED]

     1.07. Amendment of Section 4.04. Section 4.04 is hereby amended and restated as follows:

SECTION 4.04. [INTENTIONALLY OMITTED]

     1.08. Amendment of Section 4.05. Section 4.05 is hereby amended and restated as follows:

SECTION 4.05. [INTENTIONALLY OMITTED]

     1.09. Amendment of Section 4.06. Section 4.06 is hereby amended and restated as follows:

SECTION 4.06. [INTENTIONALLY OMITTED]

     1.10. Amendment of Section 4.07. Section 4.07 is hereby amended and restated as follows:

SECTION 4.07. [INTENTIONALLY OMITTED]

     1.11. Amendment of Section 4.08. Section 4.08 is hereby amended and restated as follows:

SECTION 4.08. [INTENTIONALLY OMITTED]

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     1.12. Amendment of Section 4.09. Section 4.09 is hereby amended and restated as follows:

SECTION 4.09. [INTENTIONALLY OMITTED]

     1.13. Amendment of Section 4.10. Section 4.10 is hereby amended and restated as follows:

SECTION 4.10. [INTENTIONALLY OMITTED]

     1.14. Amendment of Section 4.11. Section 4.11 is hereby amended and restated as follows:

SECTION 4.11. [INTENTIONALLY OMITTED]

     1.15. Amendment of Section 4.13. Section 4.13 is hereby amended and restated as follows:

SECTION 4.13. [INTENTIONALLY OMITTED]

     1.16. Amendment of Section 4.14. Section 4.14 is hereby amended and restated as follows:

SECTION 4.14. [INTENTIONALLY OMITTED]

     1.17. Amendment of Section 4.15. Section 4.15 is hereby amended and restated as follows:

Section 4.15. Formation of IDSs; Rato of Common Stock to Securities. Effective upon
consummation of the transactions contemplated by that certain Agreement and Plan of Merger dated as
of September 18, 2008, by and among KPLT Holdings, Inc., KPLT Mergerco, Inc., and the Company,
initially filed with the SEC on September 22, 2008, as an exhibit to the Company’s Form 8-K, the
IDSs shall, without further action on the part of the holders, be irrevocably separated.

     1.18. Amendment of Section 5.01. Section 5.01 is hereby amended and restated as follows:

SECTION 5.01. [INTENTIONALLY OMITTED]

     1.19. Amendment of Section 6.01. Section 6.01 is hereby amended by replacing the text in
clauses (3), (4), (6), (9) and (10), in each case, with the text “[INTENTIONALLY OMITTED]”.

     1.20. Amendment of Section 8.02. Section 8.02 is hereby amended and restated as follows:

SECTION 8.02. Conditions to Defeasance. The Company may exercise its legal defeasance
option or its covenant defeasance option only if:

-4-

 

     (1) the Company irrevocably deposits in trust with the Trustee money or U.S. Government
Obligations for the payment of principal, premium (if any) and interest on the Securities to
maturity or redemption, as the case may be;

     (2) the Company delivers to the Trustee a certificate from a nationally recognized firm of
independent accountants expressing their opinion that the payments of principal and interest when
due and without reinvestment on the deposited U.S. Government Obligations plus any deposited money
without investment will provide cash at such times and in such amounts as will be sufficient to pay
principal and interest when due on all the Securities to maturity or redemption, as the case may
be; and

     (3) the Company delivers to the Trustee an Officers’ Certificate and an Opinion of Counsel
(which Opinion of Counsel may be subject to customary assumptions and exclusions), each stating
that all conditions precedent to the defeasance and discharge of the Securities as contemplated by
this Article 8 have been complied with.

     1.21. Amendment of Notes.

     (a) The final paragraph of Section 1 of the Notes is hereby amended and restated as follows:

     As provided in Section 2.15 of the Indenture, the Company may irrevocably extend the maturity
date of any Securities for two additional successive five-year terms, to December 10, 2018 and
December 10, 2023, respectively, if the following conditions are satisfied as of the date the
Company delivers the Officer’s Certificate required by such Section 2.15:

     (1) during the twelve month period ending on the last day of the fiscal quarter ending at
least 45 days prior to the date such Officer’s Certificate is furnished to the Trustee, the ratio
of Net Debt to Adjusted EBITDA is less than 5.00 to 1.00;

     (2) no Event of Default (including certain events of bankruptcy, insolvency or reorganization
of the Company or a Significant Subsidiary) has occurred and is continuing with respect to the
Securities;

     (3) no Event of Default has occurred and is continuing with respect to any other Indebtedness
of the Company, or could occur as a result of such extension, including under any Designated Senior
Indebtedness; and

     (4) there is no interest due but unpaid on the Securities or any other Indebtedness of the
Company, other than trade payables in an immaterial amount.

     (b) The final two sentences in the second paragraph of Section 4 of the Notes are hereby
deleted.

     (c) Section 8 of the Notes is hereby amended and restated as follows:

8. [INTENTIONALLY OMITTED]

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     (d) the first paragraph of Section 15 of the Notes is hereby deleted.

ARTICLE 2

THE TRUSTEE

     2.01. Privileges and Immunities of Trustee. The Trustee accepts the amendment of the
Indenture and the Notes effected by this Supplemental Indenture but only upon the terms and
conditions set forth in the Indenture, including the terms and provisions defining and limiting the
liabilities and responsibilities of the Trustee, which terms and provisions shall in like manner
define and limit its liabilities and responsibilities in the performance of the trust created by
the Indenture as hereby amended. The Trustee shall not be responsible for the adequacy, validity
or sufficiency of this Supplemental Indenture, for the due execution thereof by the Company and the
Guarantors or for the recitals or statements contained herein, which are the Company’s and the
Guarantors’ responsibilities.

ARTICLE 3

MISCELLANEOUS PROVISIONS

     3.01. Defined Terms. As used in this Supplemental Indenture, terms defined in the Indenture
or in the preamble or recital hereto are used herein as therein defined. The words “herein,”
“hereof” and “hereby” and other words of similar import used in this Supplemental Indenture refer
to this Supplemental Indenture as a whole and not to any particular section hereof.

     3.02. Governing Law. THIS SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. THE TRUSTEE, THE COMPANY, EACH SUBSIDIARY
GUARANTOR, ANY OTHER OBLIGOR IN RESPECT OF THE NOTES AND (BY THEIR ACCEPTANCE OF THE NOTES) THE
HOLDERS, AGREE TO SUBMIT TO THE JURISDICTION OF ANY UNITED STATES FEDERAL OR STATE COURT LOCATED IN
THE BOROUGH OF MANHATTAN, IN THE CITY OF NEW YORK IN ANY ACTION OR PROCEEDING ARISING OUT OF OR
RELATING TO THIS SUPPLEMENTAL INDENTURE OR THE NOTES.

     3.03. Ratification of Indenture; Supplemental Indentures Part of Indenture. Except as
expressly amended hereby, the Indenture is in all respects ratified and confirmed and all the
terms, conditions and provisions thereof shall remain in full force and effect. This Supplemental
Indenture will take effect immediately upon execution by the parties hereto, however, the terms
hereof will not become operative until the Operative Date. On the Operative Date this Supplemental
Indenture shall form a part of the Indenture for all purposes, and every Holder of Notes heretofore
or hereafter authenticated and delivered shall be bound hereby. The Trustee makes no
representation or warranty as to the validity or sufficiency of this Supplemental Indenture.

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     3.04. Counterparts. The parties hereto may sign one or more copies of this Supplemental
Indenture in counterparts, all of which together shall constitute one and the same agreement.

     3.05. Headings. The section headings herein are for convenience of reference only and shall
not be deemed to alter or affect the meaning or interpretation of any provisions hereof.

[The remainder of this page is intentionally blank.]

-7-

 

          IN WITNESS WHEREOF, the parties have caused this Supplemental Indenture to be duly executed as
of the date first written above.

	 	 	 	 	 
	 	CENTERPLATE, INC.

f/k/a Volume Services America Holdings, Inc

 	 
	 	By:  	/s/ Kevin F. McNamara
 	 
	 	 	Name:  	Kevin F. McNamara 	 
	 	 	Title:  	Executive Vice President 
& Chief Financial Officer  	 
	 
	 	VOLUME SERVICES AMERICA, INC., as

Guarantor

 	 
	 	By:  	/s/ Kevin F. McNamara
 	 
	 	 	Name:  	Kevin F. McNamara 	 
	 	 	Title:  	Executive Vice President 
& Chief Financial Officer  	 
	 
	 	VOLUME SERVICES, INC., as 

Guarantor

 	 
	 	By:  	/s/ Kevin F. McNamara
 	 
	 	 	Name:  	Kevin F. McNamara 	 
	 	 	Title:  	Executive Vice President 
& Chief Financial Officer  	 
	 
	 	SERVICE AMERICA CORPORATION, as 

Guarantor

 	 
	 	By:  	/s/ Kevin F. McNamara
 	 
	 	 	Name:  	Kevin F. McNamara 	 
	 	 	Title:  	Executive Vice President 
& Chief Financial Officer  	 

 

 

	 	 	 	 	 
	 	SERVICE AMERICA CONCESSIONS

CORPORATION, as Guarantor

 	 
	 	By:  	/s/ Kevin F. McNamara
 	 
	 	 	Name:  	Kevin F. McNamara 	 
	 	 	Title:  	Executive Vice President 
& Chief Financial Officer  	 
	 
	 	SERVICE AMERICA OF TEXAS, INC.,

as Guarantor

 	 
	 	By:  	/s/ Kevin F. McNamara
 	 
	 	 	Name:  	Kevin F. McNamara 	 
	 	 	Title:  	Executive Vice President 
& Chief Financial Officer  	 
	 
	 	CENTERPLATE OF KANSAS, INC.,

as Guarantor

 	 
	 	By:  	/s/ Kevin F. McNamara
 	 
	 	 	Name:  	Kevin F. McNamara 	 
	 	 	Title:  	Executive Vice President 
& Chief Financial Officer  	 

 

 

	 	 	 	 	 
	 	THE BANK OF NEW YORK MELLON, as 

Trustee

 	 
	 	By:  	/s/  Vanessa
Mack	 
	 	 	Name:  	Vanessa
Mack	 
	 	 	Title:  	Vice PresidentEX-10.27

Exhibit
10.27

SECOND AMENDMENT TO REVOLVING LOAN CREDIT AGREEMENT

     THIS SECOND AMENDMENT TO REVOLVING LOAN CREDIT AGREEMENT (this “Amendment”) is entered
into as of this 4th day of December, 2008, by and among GALLARUS MEDIA HOLDINGS, INC., a Delaware
corporation (“Holdings”), NETWORK COMMUNICATIONS, INC., a Georgia corporation (the
“Borrower”), the Lenders (as defined below) signatory hereto and TORONTO DOMINION (TEXAS)
LLC (the “Administrative Agent”), as Administrative Agent for the Lenders.

     WHEREAS, Holdings, the Borrower, the Lenders party thereto (the “Lenders”) and the
Administrative Agent are all parties to that certain Revolving Loan Credit Agreement dated as of
July 20, 2007 as amended by that certain First Amendment to Revolving Loan Credit Agreement dated
as of June 10, 2008 (as so amended and as may be further amended, modified, supplemented or
restated, the “Credit Agreement”); and

     WHEREAS, the Borrower has requested, and the Lenders have agreed, subject to the terms hereof,
to amend the Credit Agreement as more fully set forth herein;

     NOW, THEREFORE, in consideration of the premises set forth above, the covenants and agreements
hereinafter set forth, and other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereto agree that all capitalized terms used and not
defined herein shall have the meanings ascribed thereto in the Credit Agreement, and further agree
as follows:

     1. Amendments to Article 6.

          (a) Amendment to Section 6.06. Section 6.06(a)(ii) of the Credit Agreement, is hereby
amended by deleting such subsection in its entirety and by substituting in lieu thereof the
following:

          (ii) so long as no Event of Default or Default shall have occurred and
be continuing or would result therefrom (and provided that, in the case of
any direct or indirect distribution to Ultimate Parent, Ultimate Parent
owns, beneficially and of record, 100% of the issued and outstanding Equity
Interests of Holdings at the time of such distribution), Holdings and the
Borrower may (and the Borrower may make distributions to Holdings to enable
Holdings to make distributions to Ultimate Parent to enable Ultimate Parent
to) repurchase its Equity Interests owned by current or former consultants,
officers, directors or employees of Ultimate Parent, Holdings, the Borrower
or the Subsidiaries (or their permitted transferees) or make payments to
employees of Ultimate Parent, Holdings, the Borrower or the Subsidiaries
upon termination of employment in connection with the exercise of stock
options, stock appreciation rights or similar equity incentives or equity
based incentives pursuant to management incentive plans or in connection
with the death or disability of such employees in an aggregate amount not to
exceed $1,000,000 in any Annual Reporting Period (it being agreed that such
amount shall be

 

 

increased by the amount of cash proceeds received by Holdings or
Ultimate Parent from the sale of Equity Interests of Holdings or Ultimate
Parent to such employees after the Closing Date to the extent such proceeds
are contributed directly or indirectly to the Borrower as common equity),

          (b) Amendment to Section 6.11. Section 6.11 of the Credit Agreement, Interest
Coverage Ratio, is hereby amended by deleting such Section in its entirety and by substituting in
lieu thereof the following:

SECTION 6.11. Interest Coverage Ratio. Permit the Interest Coverage
Ratio for any period of four consecutive Quarterly Reporting Periods, in
each case taken as one accounting period, ending on a date or during any
period set forth below to be less than the ratio set forth opposite such
date or period below:

	 	 	 
	Date or Period	 	Ratio
	Closing Date through the last day of the Quarterly Reporting
Period ending on or about September 14, 2008

	 	1.75 to 1.00
	 

	 	 
	Thereafter

	 	1.50 to 1.00
	 

	 	 

          (c) Amendment to Section 6.12. Section 6.12 of the Credit Agreement, Maximum Senior
Leverage Ratio, is hereby amended by deleting such Section in its entirety and by substituting in
lieu thereof the following:

SECTION 6.12. Maximum Senior Leverage Ratio. Permit the Senior Secured
Leverage Ratio for any period of four consecutive Quarterly Reporting
Periods, in each case taken as one accounting period, ending on a date or
during any period set forth below to be greater than the ratio set forth
opposite such date or period below:

	 	 	 
	Date or Period	 	Ratio
	Closing Date through the last day of the Quarterly Reporting
Period ending on or about March 29, 2009

	 	2.00 to 1.00
	 

	 	 
	The first day of the Quarterly Reporting Period ending on or
about June 21, 2009 through the last day of the Quarterly
Reporting Period ending on or about March 28, 2010

	 	 
2.25 to 1.00
	 

	 	 
	Thereafter

	 	2.00 to 1.00
	 

	 	 

          (d) Amendment to Section 6.15. Section 6.15(b) of the Credit Agreement, is hereby
amended by deleting such subsection in its entirety and by substituting in lieu thereof the
following:

2

 

          (i) Pledge or permit the pledge of Equity Interests in any Unrestricted
Subsidiary to any person (other than to the Collateral Agent as Collateral
for the Obligations), or (ii) transfer any assets to, or make any loan or
advance to, or Guarantee any obligations of, any Unrestricted Subsidiary or
otherwise acquire for consideration evidences of Indebtedness, Equity
Interests or other securities of any Unrestricted Subsidiary, other than (A)
intercompany loans and advances among Unrestricted Subsidiaries and (B)
investments of any kind or nature in Unrestricted Subsidiaries, together
with (x) payments to Unrestricted Subsidiaries by any Loan Party under any
services, management or any other contractual arrangements and (y) payments
of the type referred to in clause (c) of Section 6.07 to officers, directors
and employees of, and consultants to, Unrestricted Subsidiaries, in an
aggregate amount not to exceed $2,500,000 in any Annual Reporting Period
(provided that, so long as no Event of Default or Default shall have
occurred and be continuing or would result from any investment pursuant to
this clause (b)(ii) and the Consolidated Leverage Ratio of the Borrower,
after giving effect to the making of any such investment pursuant to this
clause (b)(ii) (and the incurrence of any Indebtedness related thereto), is
less than 4.50 to 1.00, such amount shall be increased by an amount equal to
the difference between (1) the portion of Excess Cash Flow (as defined in
the Term Loan Credit Agreement) not required to be used by the Borrower to
repay Term Loans pursuant to Section 2.13 of the Term Loan Credit Agreement
(provided that prior to or contemporaneously with such investment, the
Borrower shall have made any such required mandatory prepayment) and (2) any
amount of such portion of Excess Cash Flow used to make Restricted Payments
in accordance with clause (viii)(B) of the proviso to Section 6.06(a)). The
amount of permitted investments in and other payments in respect of
Unrestricted Subsidiaries set forth above in respect of any Annual Reporting
Period prior to the Annual Reporting Period commencing on or about March 30,
2009 shall be increased by an amount equal to the difference between (i) the
amount of unused permitted investments or payments for the immediately
preceding Annual Reporting Period and (ii) an amount equal to unused
permitted investment or payment amounts carried forward to such preceding
Annual Reporting Period.

     2. No Other Amendment. Notwithstanding the agreement of the Lenders to the terms and
provisions of this Amendment, Holdings and the Borrower acknowledge and expressly agree that this
Amendment is limited to the extent expressly set forth herein and shall not constitute a
modification of the Credit Agreement or any other Loan Documents or a course of dealing at variance
with the terms of the Credit Agreement or any other Loan Documents (other than as expressly set
forth above) so as to require further notice by the Administrative Agent or the Lenders, or any of
them, of its or their intent to require strict adherence to the terms of the Credit Agreement and
the other Loan Documents in the future. All of the terms, conditions, provisions and covenants of
the Credit Agreement and the other Loan Documents shall remain unaltered and in full force and
effect except as expressly modified by this Amendment. The

3

 

Credit Agreement and each other Loan Document shall be deemed modified hereby solely to the
extent necessary to effect the waivers and amendments contemplated hereby.

     3. Representations and Warranties. Holdings and the Borrower hereby represent and
warrant in favor of the Administrative Agent and each Lender as follows:

          (a) Each of Holdings and the Borrower has the corporate power and authority (i) to enter into
this Amendment and (ii) to do all other acts and things as are required or contemplated hereunder
to be done, observed and performed by them;

          (b) This Amendment has been duly and validly executed and delivered by Holdings and the
Borrower, and such Amendment constitutes the legal, valid and binding obligations of Holdings and
the Borrower, enforceable against Holdings and the Borrower in accordance with their respective
terms, except as limited by bankruptcy, insolvency or other laws of general application relating to
the enforcement of creditors’ rights and general principles of equity;

          (c) The execution and delivery of this Amendment and the performance by Holdings and the
Borrower under the Credit Agreement and the other Loan Documents to which each is a party, as
amended hereby, do not and will not require the consent or approval of any regulatory authority or
governmental authority or agency having jurisdiction over Holdings or the Borrower or any of their
subsidiaries which has not already been obtained, nor is in contravention of or in conflict with
the articles of incorporation, by-laws or partnership agreements of Holdings and the Borrower or
any of their subsidiaries, or any provision of any statute, judgment, order, or material indenture,
instrument, agreement, or undertaking to which Holdings, the Borrower or any of their subsidiaries
is a party or by which any of their respective assets or properties is or may become bound;

          (d) All of the representations and warranties of the Borrower made under the Credit Agreement
and the other Loan Documents are true and correct in all material respects as of the date hereof,
after giving effect hereto, as if made on the date hereof (except to the extent previously
fulfilled in accordance with the terms hereof and to the extent relating specifically to a specific
prior date); and

          (e) There does not exist, after giving effect to this Amendment, any Default under the Credit
Agreement.

     4. Conditions Precedent; Effective Date. This Amendment shall be effective as of the
date hereof subject to satisfaction of each of the following conditions precedent:

          (a) all of the representations and warranties of the Borrower under Section 3 hereof being
true and correct in all material respects as of the date hereof;

          (b) receipt by the Administrative Agent of counterparts hereof executed by the Required
Lenders, Holdings and the Borrower; and

          (c) receipt by the Administrative Agent of the Amendment Fee (defined below).

4

 

     5. Amendment Fee. As consideration for each of the Lenders’ and Administrative
Agent’s entering into this Amendment, Holdings and Borrower shall pay to Administrative Agent, for
itself and on behalf of the Lenders, an amendment fee in an amount equal to 0.25% of the aggregate
Commitments of each Lender who consents to this Amendment (the “Amendment Fee”) on or
before 8:00 p.m. (EST) on Friday, December 5, 2008. The Amendment Fee is due and payable in full
upon execution and delivery of this Amendment. Holdings and Borrower agree that the Amendment Fee
has been fully earned by Administrative Agent and Lenders and is non-refundable in whole or in
part.

     6. Counterparts. This Amendment may be executed in any number of counterparts, each
of which shall be deemed to be an original, but all such separate counterparts shall together
constitute one and the same instrument.

     7. Loan Documents. Each reference in the Credit Agreement or any other Loan Document
to the term “Credit Agreement” shall hereafter mean and refer to the Credit Agreement as amended
hereby and as the same may hereafter be amended.

     8. Governing Law. This Amendment shall be construed in accordance with and governed
by the internal laws of the State of New York, applicable to agreements made and to be performed in
New York.

     9. Severability. Any provision of this Amendment which is prohibited or unenforceable
in any jurisdiction shall be ineffective to the extent of such prohibition or unenforceability
without invalidating the remaining provisions hereof in that jurisdiction or affecting the validity
or enforceability of such provision in any other jurisdiction.

     Capitalized terms used in this Amendment and not otherwise defined herein are used as defined
in the Credit Agreement.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

5

 

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

	 	 	 
	BORROWER:

	 	NETWORK COMMUNICATIONS, INC.,
a Georgia Corporation

	 	 	 	 	 
	 	 	 
	 	By:  	               /s/ Gerard P. Parker
 	 
	 	 	Name:  	Gerard P. Parker 	 
	 	 	Title:  	Chief Financial Officer 	 
	 

 

 

	 	 	 
	HOLDINGS:

	 	GALLARUS MEDIA HOLDINGS, INC.,
a Delaware corporation

	 	 	 	 	 
	 	 	 
	 	By:  	/s/  Gerard P. Parker
 	 
	 	 	Name:  	Gerard P. Parker 	 
	 	 	Title:  	Chief Financial Officer 	 
	 

 

 

	 	 	 
	ADMINISTRATIVE AGENT AND 

LENDERS:

	 	TORONTO DOMINION
(TEXAS) LLC,
a
Administrative Agent and as a Lender

	 	 	 	 	 
	 	 	 
	 	By:  	/s/ Jackie Barrett
 	 
	 	 	Name:  	Jackie Barrett 	 
	 	 	Title:  	Authorized Signatory 	 
	 

 

 

	 	 	 	 	 
	 	WELLS FARGO FOOTHILL, INC___, as Lender

 	 
	 	By:  	/s/ Kevin S. Fong
 	 
	 	 	Name:  	Kevin S. Fong 	 
	 	 	Title:  	Senior Vice President

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