Document:

lamr-ex101_137.htm

 

Exhibit 10.1

 

 

JOINDER AGREEMENT

 

 

JOINDER AGREEMENT dated as of August 15, 2019, by the undersigned entities (each, an “Additional Subsidiary Guarantor” and, collectively, the “Additional Subsidiary Guarantors”), in favor of JPMorgan Chase Bank, N.A., as administrative agent for the Lenders party to the Credit Agreement referred to below (in such capacity, together with its successors in such capacity, the “Administrative Agent”).

 

 Lamar Media Corp., a Delaware corporation (the “Company”), the Subsidiary Borrower that may be or may become a party thereto (the “Subsidiary Borrower” and together with the Company, the “Borrowers”) and certain of its subsidiaries (collectively, the “Existing Subsidiary Guarantors” and, together with the Borrowers, the “Securing Parties”) are parties to the Third Amended and Restated Credit Agreement dated as of May 15, 2017, as amended by Amendment No. 1, dated as of March 16, 2018, and Amendment No. 2, dated as of December 6, 2018, and Incremental Amendment No. 1, dated as of January 17, 2019, by and among Lamar Media Corp., the Subsidiary Guarantors party thereto, the Lenders party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent, (as further amended prior to the date hereof and as the same may be further amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), providing, subject to the terms and conditions thereof, for extensions of credit (by means of loans and letters of credit) to be made by the Lenders therein (collectively, together with any entity that becomes a “Lender” party to the Credit Agreement after the date hereof as provided therein, the “Lenders” and, together with Administrative Agent and any successors or assigns of any of the foregoing, the “Secured Parties”) to the Borrowers.  In addition, the Borrowers may from time to time be obligated to one or more of the Lenders under the Credit Agreement in respect of Swap Agreements under and as defined in the Credit Agreement (collectively, the “Swap Agreements”).

 

In connection with the Credit Agreement, the Borrowers, the Existing Subsidiary Guarantors and the Administrative Agent are parties to the Amended and Restated Pledge Agreement dated February 3, 2014 (the “Pledge Agreement”) pursuant to which the Securing Parties have, inter alia, granted a security interest in the Collateral (as defined in the Pledge Agreement) as collateral security for the Secured Obligations (as so defined).  Terms defined in the Pledge Agreement are used herein as defined therein.

 

To induce the Secured Parties to enter into the Credit Agreement, and to extend credit thereunder and to extend credit to the Borrowers under Swap Agreements, and for other good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, the Additional Subsidiary Guarantors have agreed to become parties to the Credit Agreement and the Pledge Agreement as a “Subsidiary Guarantor” thereunder, and to pledge and grant a security interest in the Collateral (as defined in the Pledge Agreement).

 

Accordingly, the parties hereto agree as follows:

 

Section 1.  Definitions.  Terms defined in the Credit Agreement are used herein as defined therein.

 

Section 2.  Joinder to Agreements.  Effective upon the execution and delivery hereof, each Additional Subsidiary Guarantor hereby agrees that it shall become a “Subsidiary Guarantor” under and for all purposes of the Credit Agreement and a “Securing Party” under and for all purposes of the Pledge Agreement with all the rights and obligations of a Subsidiary Guarantor and Securing Party thereunder, as applicable.  Without limiting the generality of the foregoing, each Additional Subsidiary Guarantor hereby:

 

(i)jointly and severally with the other Subsidiary Guarantors party to the Credit Agreement guarantees to each Secured Party and their respective successors and assigns the prompt payment in full when due (whether at stated maturity, by acceleration or otherwise) of all Guaranteed Obligations in the same manner and to the same extent as is provided in Article III of the Credit Agreement;

 

 

 

(ii)pledges and grants the security interests in all right, title and interest of such Additional Subsidiary Guarantor in all Collateral (as defined in the Pledge Agreement) that it now owns or hereafter acquires and whether now existing or hereafter coming into existence provided for by Article III of the Pledge Agreement as collateral security for the Secured Obligations and agrees that the Schedules thereof shall be supplemented as provided in Appendices A and B hereto;

 

(iii) makes the representations and warranties set forth in Article IV of the Credit Agreement and in Article II of the  Pledge Agreement, to the extent relating to such Additional Subsidiary Guarantor or to the Pledged Equity evidenced by the certificates, if any, identified in Appendix A hereto; and

 

(iv)submits to the jurisdiction of the courts, and waives jury trial, as provided in Sections 10.09 and 10.10 of the Credit Agreement.

 

The Additional Subsidiary Guarantors hereby instruct their counsel to deliver the opinions referred to in Section 6.10(a)(iii) of the Credit Agreement to the Secured Parties.

 

 

[Signature Page Follows]

 

 

 

IN WITNESS WHEREOF, each Additional Subsidiary Guarantor has caused this Joinder Agreement to be duly executed and delivered as of the day and year first above written.

	

	
 

ADDITIONAL SUBSIDIARY GUARANTORS:

ASHBY STREET OUTDOOR HOLDINGS LLC

 

By: Lamar Media Corp., its sole member

 

 

By:/s/ Keith A Istre________________________

Keith A. Istre, Executive Vice President and Chief Financial Officer

 

 

ASHBY STREET OUTDOOR LLC

ASHBY STREET OUTDOOR CC, LLC

 

By: Ashby Street Outdoor Holdings LLC, its sole member

By: Lamar Media Corp., its sole member

 

 

By:/s/ Keith A Istre________________________

Keith A. Istre, Executive Vice President and Chief Financial Officer

 

Attest:

 

By: /s/ James R. McIlwain_____________

       James R. McIlwain, Secretary

 

 

[Signature Page to Joinder Agreement]

 

 

 

Accepted and agreed:

 

JPMORGAN CHASE BANK, N.A.

as Administrative Agent

 

 

By: /s/ Matthew Cheung ______________

Name: Matthew Cheung

Title: Vice Presidentlamr-ex41_139.htm

 

Exhibit 4.1

 

 

 

SUPPLEMENTAL INDENTURE

 

TO INDENTURE DATED OCTOBER 30, 2012

 

 

THIS SUPPLEMENTAL INDENTURE dated as of August 15, 2019, among LAMAR MEDIA CORP., a Delaware corporation (the “Company”), the undersigned Guarantors party hereto, ASHBY STREET OUTDOOR HOLDINGS LLC, a Delaware limited liability company; ASHBY STREET OUTDOOR CC, LLC, a Delaware limited liability company; ASHBY STREET OUTDOOR LLC, a Delaware limited liability company; LAMAR-FAIRWAY BLOCKER 1, LLC, a Delaware limited liability company (formerly known as LAMAR-Fairway Blocker 1, Inc.); LAMAR-FAIRWAY BLOCKER 2, LLC, a Delaware limited liability company (formerly known as LAMAR-Fairway Blocker 2, Inc.); MAGIC MEDIA/LAMAR, LLC, a Delaware limited liability company (formerly known as Magic Media, Inc.); and DOUGLAS OUTDOOR ADVERTISING OF GA., LLC, a Georgia limited liability company (formerly known as Douglas Outdoor Advertising of GA., Inc.) (collectively, the “New Guarantors”), and THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,  as Trustee (the “Trustee”).

 

WHEREAS, each of the Company and the Guarantors (as defined in the Indenture referred to below) has heretofore executed and delivered to the Trustee an Indenture, dated as of October 30, 2012 (the “Indenture”), providing for the issuance of 5.00% Senior Subordinated Notes due 2023 (the “Notes”);

 

WHEREAS, New Guarantors desire to provide a guarantee (the “Guarantee”) of the obligations of the Company under the Notes and the Indenture, in accordance with Article 10 of the Indenture;

 

WHEREAS, pursuant to Section 8.01 of the Indenture, the Company, the Trustee, the Guarantors and the New Guarantors are authorized to execute and deliver this Supplemental Indenture; and

 

WHEREAS, all conditions precedent provided for in the Indenture relating to the execution of this Supplemental Indenture have been complied with.

 

NOW THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the parties hereto mutually covenant and agree for the equal and ratable benefit of the Holders as follows:

 

1.Definitions.  All terms used herein without definition have the meanings ascribed to them in the Indenture.

 

2.Guarantee.  New Guarantors hereby agree to provide a full and unconditional guarantee on the terms and subject to the conditions set forth in the Indenture, including but not limited to Article 10 thereof, in the form and substance of Exhibit B to the Indenture.

 

3.Effectiveness of Supplemental Indenture.  This Supplemental Indenture shall become effective upon the execution and delivery of this Supplemental Indenture by the Company, the Guarantors, the New Guarantors and the Trustee.

 

4.Indenture Remains in Full Force and Effect.  This Supplemental Indenture shall form a part of the Indenture for all purposes and, except as supplemented or amended hereby, all other provisions in the Indenture and the Notes, to the extent not inconsistent with the terms and provisions of this Supplemental Indenture, shall remain in full force and effect.

 

5.Headings.  The headings of the Articles and Sections of this Supplemental Indenture are inserted for convenience of reference and shall not be deemed a part thereof.

 

 

 

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

 

7.Governing Law.  This Supplemental Indenture shall be governed by, and construed in accordance with, the laws of the State of New York, without regard to principles of conflicts of laws.

 

8.Trustee Disclaimer.  The Trustee is not responsible for the validity or sufficiency of this Supplemental Indenture nor for the recitals hereof.

 

(The remainder of this page is intentionally left blank.)

2

 

IN WITNESS WHEREOF, the undersigned have caused this Supplemental Indenture to be duly executed as of the day and year first above written.

 

NEW GUARANTORS:

 

LAMAR-FAIRWAY BLOCKER 1, LLC

LAMAR-FAIRWAY BLOCKER 2, LLC

MAGIC MEDIA/LAMAR, LLC

DOUGLAS OUTDOOR ADVERTISING OF GA., LLC 

 

 

 

By:/s/ Keith A. Istre ____________________
Name:Keith A. Istre
Title:Executive Vice President and 

	
 
	

	
Chief Financial Officer

 

ASHBY STREET OUTDOOR HOLDINGS LLC

 

By: Lamar Media Corp., its sole member

 

 

By:/s/ Keith A. Istre ____________________
Name:Keith A. Istre
Title:Executive Vice President and 

	
 
	

	
Chief Financial Officer

 

ASHBY STREET OUTDOOR CC, LLC

ASHBY STREET OUTDOOR LLC

 

By: Ashby Street Outdoor Holdings LLC, its sole member

By: Lamar Media Corp., its sole member

 

 

By:/s/ Keith A. Istre ____________________
Name:Keith A. Istre
Title:Executive Vice President and 

	
 
	

	
Chief Financial Officer

[Signature Page to Supplemental Indenture]

 

 

 

COMPANY:

 

LAMAR MEDIA CORP.

 

By:/s/ Keith A. Istre ____________________
Name:Keith A. Istre
Title:Executive Vice President and 

	
 
	

	
Chief Financial Officer

 

[Signature Page to Supplemental Indenture]

 

 

 

GUARANTORS:

 

COLORADO LOGOS, INC.

KANSAS LOGOS, INC.

LAMAR AIRPORT ADVERTISING COMPANY

LAMAR ADVERTISING OF MICHIGAN, INC.

LAMAR ADVERTISING OF YOUNGSTOWN, INC.

LAMAR ADVERTISING SOUTHWEST, INC.

LAMAR ELECTRICAL, INC.

LAMAR OCI SOUTH CORPORATION

LAMAR OHIO OUTDOOR HOLDING CORP.

LAMAR PENSACOLA TRANSIT, INC.

MICHIGAN LOGOS, INC.

MINNESOTA LOGOS, INC.

NEBRASKA LOGOS, INC.

NEVADA LOGOS, INC.

NEW MEXICO LOGOS, INC.

OHIO LOGOS, INC.

SOUTH CAROLINA LOGOS, INC.

TENNESSEE LOGOS, INC.

TLC PROPERTIES, INC.

UTAH LOGOS, INC.

 

 

By:/s/ Keith A. Istre ____________________
Name:Keith A. Istre
Title:Executive Vice President and 

	
 
	

	
Chief Financial Officer

 

[Signature Page to Supplemental Indenture]

 

 

 

ARIZONA LOGOS, L.L.C.

DELAWARE LOGOS, L.L.C.

GEORGIA LOGOS, L.L.C.

KENTUCKY LOGOS, LLC

LOUISIANA INTERSTATE LOGOS, L.L.C.

MAINE LOGOS, L.L.C.

MISSISSIPPI LOGOS, L.L.C.

MISSOURI LOGOS, LLC

MONTANA LOGOS, LLC

NEW HAMPSHIRE LOGOS, L.L.C.

NEW JERSEY LOGOS, L.L.C.

OKLAHOMA LOGOS, L.L.C.

VIRGINIA LOGOS, LLC

WASHINGTON LOGOS, L.L.C.

WISCONSIN LOGOS, LLC

 

By:Interstate Logos, L.L.C., its Managing Member

By:Lamar Media Corp., its Managing Member

 

By:/s/ Keith A. Istre ____________________
Name:Keith A. Istre
Title:Executive Vice President and 

	
 
	

	
Chief Financial Officer

 

 

 

INTERSTATE LOGOS TRS, LLC

 

By:Lamar TRS Holdings, its Managing Member

By:Lamar Media Corp., its Managing Member

 

 

By:/s/ Keith A. Istre ____________________
Name:Keith A. Istre
Title:Executive Vice President and 

	
 
	

	
Chief Financial Officer

 

[Signature Page to Supplemental Indenture]

 

 

 

INTERSTATE LOGOS, L.L.C. 

LAMAR CENTRAL OUTDOOR, LLC 

THE LAMAR COMPANY, L.L.C. 

LAMAR TRS HOLDINGS, LLC

 

By:Lamar Media Corp., its Managing Member

 

 

By:/s/ Keith A. Istre ____________________
Name:Keith A. Istre
Title:Executive Vice President and 

	
 
	

	
Chief Financial Officer

 

 

 

LAMAR ADVERTISING OF COLORADO SPRINGS,

L.L.C.

LAMAR ADVERTISING OF LOUISIANA, L.L.C.

LAMAR ADVERTISING OF SOUTH DAKOTA,

L.L.C.

LAMAR AIR, L.L.C.

LAMAR FLORIDA, L.L.C.

LAMAR OCI NORTH, L.L.C.

LAMAR TENNESSEE, L.L.C.

 

By:The Lamar Company, L.L.C., its Managing Member

By:Lamar Media Corp., its Managing Member

 

 

By:/s/ Keith A. Istre ____________________
Name:Keith A. Istre
Title:Executive Vice President and 

	
 
	

	
Chief Financial Officer

 

[Signature Page to Supplemental Indenture]

 

 

 

LAMAR TEXAS LIMITED PARTNERSHIP

 

By:The Lamar Company, L.L.C., its General Partner

By:Lamar Media Corp., its Managing Member

 

 

By:/s/ Keith A. Istre ____________________
Name:Keith A. Istre
Title:Executive Vice President and 

	
 
	

	
Chief Financial Officer

 

 

 

TLC FARMS, L.L.C.

TLC PROPERTIES, L.L.C.

 

By:TLC Properties, Inc., its Managing Member

 

 

By:/s/ Keith A. Istre ____________________
Name:Keith A. Istre
Title:Executive Vice President and 

	
 
	

	
Chief Financial Officer

 

 

 

LAMAR ADVANTAGE GP COMPANY, LLC 

LAMAR ADVANTAGE LP COMPANY, LLC 

TRIUMPH OUTDOOR HOLDINGS, LLC

 

By:Lamar Central Outdoor, LLC, its Managing

Member

By:Lamar Media Corp., its Managing Member

 

 

By:/s/ Keith A. Istre ____________________
Name:Keith A. Istre
Title:Executive Vice President and 

	
 
	

	
Chief Financial Officer

 

[Signature Page to Supplemental Indenture]

 

 

 

LAMAR ADVANTAGE OUTDOOR COMPANY, L.P.

 

By:Lamar Advantage GP Company, LLC, its General

Partner

By:Lamar Central Outdoor, LLC, its Managing 

Member

By:Lamar Media Corp., its Managing Member

 

 

By:/s/ Keith A. Istre ____________________
Name:Keith A. Istre
Title:Executive Vice President and 

	
 
	

	
Chief Financial Officer

 

 

 

LAMAR ADVANTAGE HOLDING COMPANY

 

 

By:/s/ Keith A. Istre ____________________
Name:Keith A. Istre
Title:Executive Vice President and 

	
 
	

	
Chief Financial Officer

 

 

 

LAMAR INVESTMENTS, LLC 

LAMAR SERVICE COMPANY, LLC 

LAMAR TRANSIT, LLC

 

By:Lamar TRS Holdings, LLC, its Managing

Member

By:Lamar Media Corp., its Managing Member

 

 

By:/s/ Keith A. Istre ____________________
Name:Keith A. Istre
Title:Executive Vice President and 

	
 
	

	
Chief Financial Officer

 

[Signature Page to Supplemental Indenture]

 

 

 

FLORIDA LOGOS, LLC

 

By:Interstate Logos TRS, LLC, its Managing Member

By:Lamar TRS Holdings, LLC, its Managing Member

By:Lamar Media Corp., its Managing Member

 

 

By:/s/ Keith A. Istre ____________________
Name:Keith A. Istre
Title:Executive Vice President and 

	
 
	

	
Chief Financial Officer

 

 

 

OUTDOOR MARKETING SYSTEMS, L.L.C.

OUTDOOR PROMOTIONS WEST, LLC

TRIUMPH OUTDOOR RHODE ISLAND, LLC

 

By:Lamar Transit, LLC, its Managing Member

By:Lamar TRS Holdings, LLC, its Managing Member

By:Lamar Media Corp., its Managing Member

 

 

By:/s/ Keith A. Istre ____________________
Name:Keith A. Istre
Title:Executive Vice President and 

	
 
	

	
Chief Financial Officer

 

 

 

TLC PROPERTIES II, LLC

 

By:Lamar Investments, LLC, its Managing Member

By:Lamar TRS Holdings, LLC, its Managing Member

By:Lamar Media Corp., its Managing Member

 

 

By:/s/ Keith A. Istre ____________________
Name:Keith A. Istre
Title:Executive Vice President and 

	
 
	

	
Chief Financial Officer

 

[Signature Page to Supplemental Indenture]

 

 

 

LAMAR ADVERTISING OF PENN, LLC

 

By:The Lamar Company, L.L.C., its Class A Member

By:Lamar Media Corp., its Managing Member

 

 

By:/s/ Keith A. Istre ____________________
Name:Keith A. Istre
Title:Executive Vice President and 

	
 
	

	
Chief Financial Officer

 

 

By:Lamar Transit, LLC, its Class B Member

By:Lamar TRS Holdings, LLC, its Managing Member

By:Lamar Media Corp., its Managing Member

 

 

By:/s/ Keith A. Istre ____________________
Name:Keith A. Istre
Title:Executive Vice President and 

	
 
	

	
Chief Financial Officer

 

 

 

LAMAR OBIE COMPANY, LLC

 

By:Lamar Media Corp., its Class A Member

 

 

By:/s/ Keith A. Istre ____________________
Name:Keith A. Istre
Title:Executive Vice President and 

	
 
	

	
Chief Financial Officer

 

By:Lamar Transit, LLC, its Class B Member

By:Lamar TRS Holdings, LLC, its Managing Member

By:Lamar Media Corp., its Managing Member

 

 

By:/s/ Keith A. Istre ____________________
Name:Keith A. Istre
Title:Executive Vice President and 

	
 
	

	
Chief Financial Officer

 

 

FMG OUTDOOR HOLDINGS, LLC

FAIRWAY MEDIA GROUP, LLC

FAIRWAY OUTDOOR ADVERTISING, LLC

FAIRWAY OUTDOOR FUNDING HOLDINGS, LLC

FAIRWAY OUTDOOR FUNDING, LLC

MCC OUTDOOR, LLC

MAGIC MEDIA REAL ESTATE, LLC

FMO REAL ESTATE, LLC

OLYMPUS MEDIA/INDIANA, LLC

FAIRWAY CCO INDIANA, LLC

[Signature Page to Supplemental Indenture]

 

 

 

 

By:/s/ Keith A. Istre ____________________
Name:Keith A. Istre
Title:Executive Vice President and 

Chief Financial Officer 

[Signature Page to Supplemental Indenture]

 

 

 

TRUSTEE:

 

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee

 

 

	
 
	

	
By:/s/ Lawrence M Kusch_________
Name:Lawrence M Kusch_____    ____    
Title: Vice President_______________

[Signature Page to Supplemental Indenture]

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