Document:

irdm-ex104_930.htm

EXHIBIT 10.4

THIS AMENDMENT TO THE COFACE FACILITY AGREEMENT (this “Amendment”), dated as of December 31, 2015 (the “Effective Date”), is made by and among IRIDIUM COMMUNICATIONS INC., a Delaware corporation (the “Parent”), IRIDIUM SATELLITE LLC, a Delaware limited liability company, as borrower (the “Borrower”), THE GUARANTORS under and as defined in the COFACE Facility Agreement referred to below, and SOCIÉTÉ GÉNÉRALE as agent of the other Finance Parties (in this capacity the “COFACE Agent”) and is made with reference to the COFACE Facility Agreement, dated as of October 4, 2010, as amended and restated as of May 2, 2014 and as further amended as of May 7, 2015 and November 24, 2015, by and among the Parent, the Borrower, the other Obligors party thereto, the Lenders party thereto, the COFACE Agent and DEUTSCHE BANK TRUST COMPANY AMERICAS as security agent and trustee for the Secured Parties (as amended, restated, supplemented, replaced or otherwise modified from time to time, the “COFACE Facility Agreement”).

 

agreement:

	
1.
	
Definitions; Interpretation

 

1.1Definitions 

Capitalised terms defined in the COFACE Facility Agreement have, unless expressly defined in this Amendment, the same meaning in this Amendment. 

1.2Construction 

The principles of construction set out in Clause 1.2 (Construction) of the COFACE Facility Agreement will have effect as if set out in this Amendment.

	
2.
	
AmendmentS

Effective as of the Effective Date, the COFACE Facility Agreement is hereby amended by, in Schedule 24 thereto, deleting the “Pre Production Milestones” and “Post Production Milestones” and replacing them with the following:

Pre Production Milestones:

 

				
	
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Post Production Milestones:

 

	
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*** Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended.

	
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3.
	
DIRECTION

The COFACE Agent (at the direction of the Majority Lenders) hereby consents to the Borrower’s execution and delivery of an amendment to the Satellite Supply Contract to implement the foregoing amendment to the “Pre Production Milestones” and “Post Production Milestones” under the COFACE Facility Agreement, provided that, in such amendment to the Satellite Supply Contract, the dates ascribed to the Milestones (as defined therein) for each of the “Pre Production Milestones” and “Post Production Milestones” may be earlier, but not later, than the dates in the amendment to Schedule 24 to the COFACE Facility Agreement as set forth above.

	
4.
	
Representations

	
4.1
	
Representations

The representations set out in this Clause 4 (Representations) are made by each Obligor on the date of this Amendment to each Finance Party.

	
4.2
	
Powers and authority

It has the power to enter into, perform and deliver, and has taken all necessary action to authorise the entry into, performance and delivery of, this Amendment and the transactions contemplated by this Amendment.

	
4.3
	
Legal validity

Subject to the Legal Reservations, the obligations expressed to be assumed by it in this Amendment are legal, valid, binding and enforceable obligations.

	
4.4
	
Non-conflict

The entry into and performance by it of, and the transactions contemplated by, this Amendment do not and will not conflict with:

	
 
	
(a)
	
any law or regulation applicable to it;

	
 
	
(b)
	
its constitutional documents; or

	
 
	
(c)
	
any agreement or instrument binding upon it or any of its assets or constitute a default of termination event (however described) under any such agreement or instrument where such circumstance has or is reasonably likely to have a Material Adverse Effect.

*** Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended.

#4835-6159-8763

 

	
4.5
	
Authorisations 

All authorisations required by it in connection with the entry into, performance, validity and enforceability of, and the transactions contemplated by, this Amendment have been obtained or effected (as appropriate) and are in full force and effect.

4.6Governing law and enforcement

	
 
	
(a)
	
Subject to the Legal Reservations, the choice of governing law of this Amendment will be recognised and enforced in its Relevant Jurisdictions.

	
 
	
(b)
	
Subject to the Legal Reservations, any judgment obtained in relation to this Amendment will be recognised and enforced in its Relevant Jurisdictions.

4.7COFACE Facility Agreement

Unless a representation and warranty set out in Clause 20 (Representations) of the COFACE Facility Agreement is expressed to be given at a specific date, each Obligor makes the representations and warranties set out in Clause 20 (Representations) of the COFACE Facility Agreement (other than the representations and warranties in Clauses 20.14(a), (b) and (c) (Original Financial Statements), 20.18 (Taxation) and 20.24 (Shares and Material Companies) of the COFACE Facility Agreement) on the Effective Date, in each case as if references to the COFACE Facility Agreement are references to the COFACE Facility Agreement, as amended hereby, with reference to the facts and circumstances then existing, provided that, in the case of those representations and warranties contained in Clause 20.13 (No misleading information) of the COFACE Facility Agreement, such representations and warranties are made only with respect to any subsequent and new information delivered under the COFACE Facility Agreement since the last period where such representation and warranty was made or deemed to be made under the COFACE Facility Agreement.

	
5.
	
CONDITIONS TO EFFECTIVENESS

 

This Amendment shall become effective on the Effective Date upon the due execution of a signature page to this Amendment by each of the Parent, the Borrower, the other Obligors and the COFACE Agent on behalf of the Finance Parties and delivery of each party’s respective signature pages to each of the other parties hereto.

	
6.
	
Governing law; jurisdiction, etc.

This Amendment and any non-contractual obligations arising out of or in connection with it are governed by English law. The provisions of Clause 40 (Enforcement) of the COFACE Facility Agreement are hereby incorporated by reference, mutatis mutandis, as if set forth in full herein.

 

	
7.
	
Miscellaneous

	
 
	
(a)
	
This Amendment is a Finance Document.

	
 
	
(b)
	
Each Obligor:

*** Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended.

#4835-6159-8763

 

	
 
	
(i)
	
agrees to the amendments to the COFACE Facility Agreement as contemplated by this Amendment; and 

	
 
	
(ii)
	
with effect from the Effective Date, confirms that any guarantee or security given by it or created under a Finance Document will:

	
 
	
(A)
	
continue in full force and effect; and

	
 
	
(B)
	
extend to the liabilities and obligations of the Obligors to the Finance Parties under the Finance Documents as amended by this Amendment.

	
 
	
(c)
	
On and after the date hereof, each reference in the COFACE Facility Agreement to “this Agreement”, “hereunder”, “hereof”, “herein” or words of like import referring to the COFACE Facility Agreement, and each reference in the other Finance Documents to the “COFACE Facility Agreement”, “thereunder”, “thereof” or words of like import referring to the COFACE Facility Agreement shall mean and be a reference to the COFACE Facility Agreement as amended by this Amendment.

	
 
	
(d)
	
Except as specifically amended by this Amendment, the COFACE Facility Agreement shall remain unchanged and in full force and effect and is hereby ratified and confirmed.

	
 
	
(e)
	
Each Finance Party reserves any other right or remedy it may have now or subsequently.  The execution, delivery and performance of this Amendment shall not constitute a waiver of any provision of, or operate as a waiver of any right, power or remedy of the Finance Parties under the COFACE Facility Agreement except as expressly provided herein.

	
 
	
(f)
	
Section headings in this Amendment are included herein for convenience of reference only and shall not constitute a part of this Amendment for any other purpose or be given any substantive effect.

	
 
	
(g)
	
This 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.  Signatures to this Amendment may be delivered by facsimile or other electronic means of transmission, and any signature so delivered shall be deemed an original executed counterpart.

 

[Signature pages follow.]

 

 

*** Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended.

#4835-6159-8763

 

IN WITNESS WHEREOF, each of the parties hereto has caused this Amendment to be duly executed and delivered as of the date first above written.

 

Parent

IRIDIUM COMMUNICATIONS INC.

 

By: /s/ Thomas J. Fitzpatrick

Name:  Thomas J. Fitzpatrick

Title:Chief Financial Officer

 

Borrower

IRIDIUM SATELLITE LLC

 

By: /s/ Thomas J. Fitzpatrick

Name:  Thomas J. Fitzpatrick

Title:Chief Financial Officer

 

Obligors

IRIDIUM COMMUNICATIONS INC.

 

By: /s/ Thomas J. Fitzpatrick

Name:  Thomas J. Fitzpatrick

Title:Chief Financial Officer

 

IRIDIUM HOLDINGS LLC

 

By: /s/ Thomas J. Fitzpatrick

Name:  Thomas J. Fitzpatrick

Title:Chief Financial Officer

 

IRIDIUM CARRIER HOLDINGS LLC 

 

By: /s/ Thomas J. Fitzpatrick

Name:  Thomas J. Fitzpatrick

Title:Chief Financial Officer

 

*** Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended.

#4835-6159-8763

 

IRIDIUM CARRIER SERVICES LLC 

 

By: /s/ Thomas J. Fitzpatrick

Name:  Thomas J. Fitzpatrick

Title:Chief Financial Officer

 

IRIDIUM CONSTELLATION LLC 

 

By: /s/ Thomas J. Fitzpatrick

Name:  Thomas J. Fitzpatrick

Title:Chief Financial Officer

 

IRIDIUM GOVERNMENT SERVICES LLC 

 

By: /s/ Thomas J. Fitzpatrick

Name:Thomas J. Fitzpatrick

Title:Chief Financial Officer, Iridium Constellation LLC, its manager

 

SYNCOM-IRIDIUM HOLDINGS CORP.

 

By: /s/ Thomas J. Fitzpatrick

Name:  Thomas J. Fitzpatrick

Title:Chief Financial Officer

 

 

IRIDIUM BLOCKER-B INC.

 

By: /s/ Thomas J. Fitzpatrick

Name:  Thomas J. Fitzpatrick

Title:Chief Financial Officer

 

IRIDIUM SATELLITE SA LLC

 

By: /s/ Thomas J. Fitzpatrick

Name:Thomas J. Fitzpatrick

Title:Chief Financial Officer, Iridium Satellite LLC, its manager

*** Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended.

#4835-6159-8763

 

 

COFACE Agent

SOCIÉTÉ GÉNÉRALE

 

By: /s/ Fleur Ferrari

Name:  Fleur Ferrari

Title:

 

 

By: /s/ Loubna Mountassir

Name:  Loubna Mountassir

Title:

 

 

 

 

 

 

*** Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended.irdm-ex1053_931.htm

EXHIBIT 10.53

 

 

AMENDMENT NO. 6

 

 

TO THE 

 

 

CONTRACT FOR LAUNCH SERVICES

 

NO. IS-10-008

 

BETWEEN

 

IRIDIUM SATELLITE LLC

 

AND

 

SPACE EXPLORATION TECHNOLOGIES CORP.

 

 

 

 

*** Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended.

Iridium & Space Exploration Technologies Corp. Proprietary Information

 

 

PREAMBLE

 

 

This Amendment No. 6 (the “Amendment”) to the Contract for Launch Services No. IS-10-008, signed on March 19, 2010 between Iridium Satellite LLC and Space Exploration Technologies Corp. (the “Contract”) is entered into on this 2nd day of November, 2015, by and between Iridium Satellite LLC, a limited liability company organized and existing under the laws of Delaware, having its office at 1750 Tysons Boulevard, Suite 1400, McLean, VA 22102 (“Customer”) and Space Exploration Technologies Corp., a Delaware corporation, having its office at 1 Rocket Road, Hawthorne, CA 90250 (“Contractor”). 

 

RECITALS

 

WHEREAS, Customer and Contractor have engaged in discussions relating to changes each would like to incorporate in the Contract reflecting adjustments to the Launch Schedule and certain recurring Milestones.

 

NOW, THEREFORE, in consideration of the foregoing, the agreements contained herein, the payments to be made by Customer to Contractor under the Contract and other good and valid consideration, the receipt and adequacy of which are hereby expressly acknowledged, and intending to be legally bound, the Parties agree as follows:

 

Article 1:  Capitalized terms used but not defined in this Amendment shall have the meanings ascribed thereto in the Contract.  

 

Article 2:  Section 16.1.1 of the Contract is hereby modified by (i) deleting the words “[***] months [***] to be provided under this Contract” immediately following the text “not later than” in the second line and (ii) inserting the date “[***]” in place thereof.

 

Article 3:  Exhibit B of the Contract is hereby deleted and replaced in its entirety by the Exhibit B attached hereto.

 

Article 4:  Table C.1 set forth in Exhibit C is hereby by modified by (i) deleting the Milestone titled [***] and (ii) inserting the following Milestones in place thereof.

 

			
	
Milestone
	
Milestone Due Date
	
Milestone Payment (US$)

	
[***]
	
[***]
	
$[***]

	
[***]
	
[***]
	
$[***]

 

*** Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended.

    Iridium & Space Exploration Technologies Corp. Proprietary Information                       2

 

 

Article 5:  The recurring Milestone Payments for each of the seven (7) Firm Launches as set forth in tables C.2 and C.3 of the Contract shall remain unchanged, except as replaced by the Milestone Payments for specific Firm Launches set forth in the below table. Customer shall pay such Milestones, subject to Section 4.1 of the Contract, in accordance with the revised Milestone Payment schedule for such Milestones set forth below. 

 

				
	
Firm Launch Mission
	
Milestone Completion Nominal Dates 
	
Milestone
	
Amount

	
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[***]
	
[***]
	
$[***]

 

Article 6:  The SOW and [***] shall be modified to incorporate Contractor’s provision of:  (i) [***]; and (ii) [***]. 

 

Article 7:  This Amendment may be executed and delivered (including via facsimile or other electronic means) in one or more counterparts, each of which shall be deemed to be an original, but all of which shall constitute one and the same agreement.

 

Article 8:  All other provisions of the Contract not expressly referred to in this Amendment remain in full force and effect.

 

[Signatures on next page]

*** Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended.

    Iridium & Space Exploration Technologies Corp. Proprietary Information                       3

 

 

IN WITNESS WHEREOF, the Parties have executed this Amendment by their duly authorized officers as of the date set forth in the Preamble. 

For CustomerFor Contractor

 

					
	
IRIDIUM SATELLITE LLC
	
 
	
SPACE EXPLORATION

TECHNOLOGIES CORP.

	
Signature:
	
/S. Scott Smith/
	
 

 
	
Signature:
	
/Gwynne E. Shotwell/

	
 
	
 
	
 
	
 
	
 

	
Name:
	
S. Scott Smith
	
 
	
Name:
	
Gwynne Shotwell

	
Title:
	
Chief Operating Officer 
	
 
	
Title:
	
President

*** Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended.

    Iridium & Space Exploration Technologies Corp. Proprietary Information                       4

 

 

EXHIBIT B

LAUNCH SCHEDULE

 

 

			
	
Firm Launch Mission
	
Start Date of Launch Slot
	
Launch Date

	
[***]
	
[***]
	
[***]

[***] 

 

 

*** Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended.

    Iridium & Space Exploration Technologies Corp. Proprietary Information                       5

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