Document:

GCI-2013.09.29-EX10-4

EXHIBIT 10-4

SIXTH AMENDMENT, dated as of September 24, 2013 (this “Amendment”), to the Competitive Advance and Revolving Credit Agreement, dated as of December 13, 2004 and effective as of January 5, 2005, as amended by the First Amendment thereto, dated as of February 28, 2007 and effective as of March 15, 2007, as further amended by the Second Amendment thereto, dated as of October 23, 2008 and effective as of October 31, 2008, as further amended by the Third Amendment thereto, dated as of September 28, 2009, as further amended by the Fourth Amendment thereto, dated as of August 25, 2010 and as further amended by the Fifth Amendment and Waiver, dated as of September 30, 2010, and as further amended and restated as of August 5, 2013, the “Credit Agreement”) among Gannett Co., Inc., a Delaware corporation (“Gannett”), the Guarantors party thereto, several banks and other financial institutions from time to time parties thereto (the “Lenders”), JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the “Administrative Agent”) and the other parties party thereto, is made by and between Gannett, the Administrative Agent and the Lenders party hereto.
W I T N E S S E T H:
WHEREAS, Gannett has requested certain amendments to the Credit Agreement; 
WHEREAS, the parties are willing to consent to the requested amendments on the terms and conditions contained herein;
NOW THEREFORE, the parties hereto hereby agree as follows: 
1.Defined Terms.  Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement. 

2.Amendment to Section 2.1.  Clause (x) of Section 2.1(d) of the Credit Agreement is hereby amended by deleting the phrase “at least 91 days” and replacing such phrase with the phrase “on or”.    

3.Effectiveness.  This Amendment shall become effective as of the date (the “Sixth Amendment Effective Date”) on which the Administrative Agent shall have received counterparts hereof duly executed by (i) Gannett, (ii) the Administrative Agent and (iii) Lenders constituting Required Lenders.

4.Representations and Warranties.  Gannett hereby represents and warrants that, on and as of the Sixth Amendment Effective Date, after giving effect to this Amendment:  

(a)  No Default or Event of Default has occurred and is continuing; and
(b)  Each of the representations and warranties of Gannett in the Credit Agreement and this Amendment is true and correct in all material respects, as if made on and as of the date hereof. 
5.Continuing Effect.  Except as expressly amended hereby, the Credit Agreement shall continue to be and shall remain in full force and effect in accordance with its terms.  From and after the date hereof, all references in the Credit Agreement thereto shall be to the Credit Agreement as amended hereby.  

6.Counterparts.  This Amendment may be executed by one or more of the parties hereto on any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument.  Delivery of an executed signature page of this Amendment by electronic or facsimile transmission (including .pdf file) shall be effective as delivery of a manually executed counterpart hereof.  

7.Headings.  Section headings used in this Amendment are for convenience of reference only, are not part of this Amendment and are not to affect the constructions of, or to be taken into consideration in interpreting, this Amendment.  

8.GOVERNING LAW.  THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.  

9.Expenses.  Gannett agrees to pay or reimburse the Administrative Agent for all of its reasonable out-of-pocket costs and expenses incurred in connection with the preparation, negotiation and execution of this Amendment, including, without limitation, the reasonable fees and disbursements of counsel to the Administrative Agent.

[Remainder of page intentionally left blank]

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed and delivered by their duly authorized officers as of the date first written above. 

GANNETT CO., INC.

By:    /s/ Michael A. Hart                        
       Name: Michael A. Hart
      Title: Vice President & Treasurer

JPMORGAN CHASE BANK, N.A., 
as Administrative Agent

By:    /s/ Peter B. Thauer                        
       Name: Peter B. Thauer
            Title:  Managing Director

Signature page to Sixth Amendment to Credit Agreement

Citibank, N.A. , as a Lender

By:    /s/ Michael Vondriska       
       Name: Michael Vondriska
            Title:  Vice President

Signature page to Sixth Amendment to Credit Agreement

RAYMOND JAMES BANK, N.A., as a Lender

By:    /s/ Eric Stange                     
       Name: Eric Stange
            Title:  Vice President

Signature page to Sixth Amendment to Credit Agreement

Sumitomo Mitsui Banking Corporation , as a Lender

By:    /s/ Shuji Yabe              
       Name: Shuji Yabe
            Title:  Managing Director

Signature page to Sixth Amendment to Credit Agreement

PNC Bank, N.A. , as a Lender

By:    /s/ Nancy R. Bonnell         
       Name: Nancy R. Bonnell
            Title:  Vice President

Signature page to Sixth Amendment to Credit Agreement

US Bank, National Association , as a Lender

By:    /s/ Steven L. Sawyer       
       Name: Steven L. Sawyer
            Title:  Senior Vice President

Signature page to Sixth Amendment to Credit Agreement

Fifth Third Bank , as a Lender

By:    /s/ Mary Ramsey        
       Name: Mary Ramsey
            Title:  Vice President

Signature page to Sixth Amendment to Credit Agreement

Barclays Bank PLC , as a Lender

By:    /s/ Noam Azachi       
       Name: Noam Azachi
            Title:  Vice President

Signature page to Sixth Amendment to Credit Agreement

The Northern Trust Company, as a Lender

By:    /s/ Thomas P. McGrath       
       Name: Thomas P. McGrath
            Title:  Officer

Signature page to Sixth Amendment to Credit Agreement

Comerica Bank , as a Lender

By:    /s/ Timothy D. Rourke       
       Name: Timothy D. Rourke
            Title:  Vice President

Signature page to Sixth Amendment to Credit Agreement

First Hawaiian Bank , as a Lender

By:    /s/ Derek Chang        
       Name: Derek Chang
            Title:  Vice President

Signature page to Sixth Amendment to Credit AgreementGCI-2013.09.29-EX10-5

 
EXHIBIT 10-5
 
 
INCREASED FACILITY ACTIVATION NOTICE

To:    JPMorgan Chase Bank, N.A.,
as Administrative Agent under the Amended and Restated Credit Agreement referred to below
Reference is made to the Amended and Restated Competitive Advance and Revolving Credit Agreement (as amended, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), dated as of August 5, 2013, among Gannett, the Lenders party thereto from time to time, JPMorgan Chase Bank, N.A., as administrative agent (in such capacity, the “Administrative Agent”) and other parties party thereto.  Capitalized terms used but not defined herein shall have the meanings assigned to such terms in the Credit Agreement.
This notice is an Incremental Facility Activation Notice referred to in Section 2.1(d) of the Credit Agreement and Gannett, and each Lender party hereto hereby notify you that:
		
	1.
	Each Lender party hereto agrees to provide commitments and make Incremental Loans in the form of an increase in the existing Facilities (collectively, the “Incremental Facilities”) in the amount set forth under such Lender’s name on the signature pages hereof under the caption “Incremental Facility Amount”.

		
	2.
	The Facilities to be increased are the Five-Year Facility and the Term Facility.

		
	3.
	The Incremental Facility Closing Date is September 25, 2013.    

		
	4.
	The aggregate principal amount of the Incremental Facilities contemplated hereby is:

Five Year Facility: $115,000,000.00
Term Facility: $10,000,000.00
		
	5.
	The Term Loans of each Lender party hereto shall mature in 20 consecutive quarterly installments, commencing on December 31, 2013, each of which shall be in an amount equal to (i) the percentage which the principal amount of such Lender’s Term Loans made on the Incremental Facility Closing Date constitutes of the aggregate principal amount of Term Loans made on the Increased Facility Closing Date multiplied by (ii) the amount set forth below opposite such installment:

	
		
	Installment
	Principal Amount

	December 31, 2013
	$500,000

	March 31, 2014
	$500,000

	June 30, 2014
	$500,000

	September 30, 2014
	$500,000

	December 31, 2014
	$500,000

	March 31, 2015
	$500,000

	June 30, 2015
	$500,000

	September 30, 2015
	$500,000

	December 31, 2015
	$500,000

	March 31, 2016
	$500,000

	June 30, 2016
	$500,000

	
		
	Installment
	Principal Amount

	September 30, 2016
	$500,000

	December 31, 2016
	$500,000

	March 31, 2017
	$500,000

	June 30, 2017
	$500,000

	September 30, 2017
	$500,000

	December 31, 2017
	$500,000

	March 31, 2018
	$500,000

	June 30, 2018
	$500,000

	2018 Extended           Termination Date                            
	Aggregate principal amount of Term Loans made on the Incremental Facility Closing Date outstanding

6.      The Incremental Facility Maturity Date for the Incremental Facilities is the 2018 Extended Termination Date.
		
	7. 
	The Applicable Margin  for each of the Incremental Facility shall be the same as the Applicable Margin for the applicable existing Facility.  The Commitment Fees shall be paid to the increased Five Year Facility in the same manner as the existing Five Year Facility.

		
	8. 
	The agreement of each Lender party hereto to make available the Incremental Facilities on the Increased Facility Closing Date is subject to the satisfaction of the following conditions precedent:

		
	(a)
	The Administrative Agent shall have received this notice, executed and delivered by Gannett and each Lender party hereto.

		
	(b)
	In the case of Incremental Loans that are an increase of an existing Facility, such Incremental Loans shall have the same terms as the existing Loans under such Facility in all respects.

		
	(c)
	Other than amortization, pricing, fees and the maturity date, each new Incremental Facility (x) shall rank pari passu with the Term Facility and the Five-Year Facility, as applicable, in right of payment, (y) shall have the same terms as the Term Facility or the Five-Year Facility, as applicable, or such terms as are reasonably satisfactory to the Administrative Agent and Gannett, and (z) except as set forth above, shall be treated substantially the same as the existing Term Facility or the Five-Year Facility, as applicable (in each case, including with respect to mandatory and voluntary prepayments)

		
	(d)
	After giving effect to the making of the Incremental Facility contemplated hereby on the Increased Facility Closing Date, (i) each of the representations and warranties made by any Loan Party in or pursuant to the Loan Documents shall be true and correct in all material respects on and as of such date as if made on and as of such date, except for representations and warranties made as of a specific earlier date that shall be true and correct in all material respects as of such date, and (ii) no Default or Event of Default shall have occurred and be continuing.

[Signature page follows]

IN WITNESS WHEREOF, each of the undersigned has caused its duly authorized officer to execute and deliver this Agreement as of  September 25, 2013.

GANNETT CO., INC.

By:/s/ Michael A. Hart                      
      Name: Michael A. Hart    
      Title: Vice President & Treasurer

RBS CITIZENS, N.A.,
as Lender

By:/s/ Hassan Sayed                       
      Name: Hassan Sayed    
      Title: Vice President

Increase in Five Year Commitments: $46,000,000.00
Increase in Term Loans: $4,000,000.00

TD Bank, N.A.
as Lender

By: /s/ Shivani Agarwal                    
      Name: Shivani Agarwal    
      Title: Senior Vice President

Increase in Five Year Commitments: $69,000,000.00
Increase in Term Loans: $6,000,000.00

CONSENTED TO: JPMorgan Chase Bank, N.A., as Administrative Agent

By:/s/ Peter B. Thauer                
      Name: Peter B. Thauer    
      Title: Managing Director

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