Document:

Exhibit 10.1

 

FORM OF

 

VOTING AGREEMENT

 

This Voting Agreement (this “Agreement”) is dated as of August 15, 2019, by and between ConnectOne Bancorp, Inc., a New Jersey corporation (“ConnectOne”), and the shareholder of Bancorp of New Jersey, Inc., a New Jersey corporation (the “Company”) executing this Agreement on the signature page hereto (the “Shareholder”).  Capitalized terms used in this Agreement and not defined herein shall have the meanings ascribed to such terms in the Merger Agreement (as defined below).

 

RECITALS

 

A.                                    Concurrently with the execution of this Agreement, ConnectOne and the Company have entered into an Agreement and Plan of Merger (the “Merger Agreement”) that provides, among other things, for the merger (the “Merger”) of the Company with and into ConnectOne, upon the terms and subject to the conditions set forth therein.

 

B.                                    As of the date hereof, the Shareholder is the record and Beneficial Owner (as defined below) of the number of shares of Company Common Stock set forth below the Shareholder’s name on the signature page hereto, including, for purposes of this Agreement, all shares or other voting securities into which any shares of Company Common Stock may be reclassified, sub-divided, consolidated or converted and any rights and benefits arising therefrom (including any dividends or distributions of securities that may be declared in respect of such shares of Company Common Stock) and including any Company Common Stock underlying a Company Restricted Stock Award for which Shareholder has the right to vote at the Company Shareholders’ Meeting (collectively, the “Company Common Shares”).

 

C.                                    As a condition to ConnectOne’s willingness to enter into and perform its obligations under the Merger Agreement, the Shareholder has agreed to enter into this Agreement.

 

NOW, THEREFORE, the parties hereto agree as follows:

 

I.  CERTAIN DEFINITIONS

 

1.1                               Definitions. For the purposes of this Agreement:

 

“Beneficial Owner” or “Beneficial Ownership” with respect to any securities means having “beneficial ownership” of such securities (as determined pursuant to Rule 13d-3 under the Securities Exchange Act of 1934, as amended).

 

“Jointly Owned Shares” means the Company Common Shares Beneficially Owned by the Shareholder as of the applicable record date (including any Company Common Shares that the Shareholder may acquire after the date hereof) for which the Shareholder has joint or shared voting power.

 

 

“Owned Shares” means the Company Common Shares Beneficially Owned by the Shareholder as of the applicable record date (including any Company Common Shares that the Shareholder may acquire after the date hereof) for which the Shareholder has sole voting power.

 

“Restricted Transfer Termination Date” means the earliest of (i) the date on which the Merger Agreement is terminated in accordance with its terms, (ii) the Effective Time, (iii) the date, if any, on which ConnectOne releases, pursuant to a written instrument, the Shareholder from the Shareholder’s obligations hereunder, and (iv) the date immediately following the date, if any, on which the Company’s Shareholders approve the Company’s adoption of the Merger Agreement.

 

“Transfer” means, with respect to a security, the sale, grant, assignment, transfer, pledge, hypothecation, encumbrance, constructive sale, or other disposition of such security or the Beneficial Ownership thereof (including by operation of law), or the entry into of any contract, agreement or other obligation to effect any of the foregoing, including, for purposes of this Agreement, the transfer or sharing of any voting, investment or dispositive power of such security.

 

II.   SUPPORT OBLIGATIONS OF THE SHAREHOLDER

 

2.1                               Agreement to Vote. The Shareholder irrevocably and unconditionally agrees that from and after the date hereof until the Restricted Transfer Termination Date, at any meeting (whether annual or special, and at each adjourned or postponed meeting) of the Company Shareholders called to vote for approval of the Merger, however called, or in connection with any written consent of the Company’s Shareholders relating to the Merger, the Shareholder will (x) cause all of the Shareholder’s Owned Shares, and use the Shareholder’s reasonable best efforts to cause all of the Shareholder’s Jointly Owned Shares, to be counted as present thereat for purposes of calculating a quorum, and respond to each request by the Company for written consent, if any (y) vote (or consent) or cause to be voted (or validly execute and return and cause a consent to be granted with respect to) all of the Owned Shares and use the Shareholder’s reasonable best efforts to cause to be voted (or validly execute and return and use the Shareholder’s reasonable best efforts to cause a consent to be granted with respect to) all of the Jointly Owned Shares, in each case, in favor of adoption of the Merger Agreement and the Merger and, if it shall be necessary for any such meeting to be adjourned or postponed in accordance with the terms and conditions of the Merger Agreement, in favor of such adjournment or postponement and (z) vote (or consent) or cause to be voted (or validly execute and return and cause a consent to be granted with respect to) all of the Owned Shares and use the Shareholder’s reasonable best efforts to cause to be voted (or validly execute and return and use the Shareholder’s reasonable best efforts to cause a consent to be granted with respect to) all of the Jointly Owned Shares, in each case, against any Acquisition Proposal and against any proposal made in opposition to, or in competition with, the Merger or any other transactions contemplated by the Merger Agreement.

 

2.2                               Restrictions on Transfer. Except as otherwise consented to in writing by ConnectOne, the Shareholder agrees from and after the date hereof and until the Restricted Transfer Termination Date, not to tender, or cause to be tendered, into any tender or exchange offer or otherwise directly or indirectly Transfer, or cause to be Transferred, any Owned Shares or Jointly Owned Shares (or any rights, options or warrants to acquire any Company Common Shares), except for transfers to charities, charitable trusts, or other charitable organizations under Section 501(c)(3) of the Internal Revenue Code of 1986, as amended, lineal descents or the spouse

 

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of the Shareholder, or to a trust or other entity for the benefit of one or more of the foregoing persons, or by means of an in-kind distribution of all or part of the Shareholder’s Company Common Shares to the Shareholder’s direct or indirect equityholders; provided, however, that the transferee of any permitted transfer described in this Section 2.2 agrees in writing to be bound by the terms of this Agreement.

 

2.3                               Company Acquisition Proposal. The Shareholder agrees that from and after the date hereof until the Restricted Transfer Termination Date, the Shareholder will not, and will use the Shareholder’s reasonable best efforts to not permit any of the Shareholder’s affiliates to, directly or indirectly, solicit, initiate, encourage or facilitate, or furnish or disclose non-public information in furtherance of, the making of any proposal with respect to any Acquisition Proposal, or negotiate or otherwise engage in discussions with any person (other than the Company or Parent or their respective directors, officers, employees, agents and representatives) with respect to any Acquisition Proposal or enter into any agreement or arrangement with respect to any Acquisition Proposal or agree to or otherwise assist in the effectuation of any Acquisition Proposal; provided, however, that nothing herein shall prevent the Shareholder from taking any action, or omitting to take any action, if applicable, as a member of the Board of Directors of the Company required so as not to act inconsistently with the Shareholder’s fiduciary obligations as a Director or officer of the Company after consultation with outside counsel, including, without limitation, in exercising the Company’s rights under the Merger Agreement, and no such actions or omissions shall be a breach of this Agreement.

 

III.  GENERAL

 

3.1                               Governing Law; Jurisdiction. This Agreement and any controversies arising with respect hereto shall be construed in accordance with and governed by the laws of the State of New Jersey (without regard to principles of conflict of laws that would apply the law of another jurisdiction). Each of the parties hereto hereby irrevocably and unconditionally submits, for itself and its property, to the jurisdiction of any New Jersey State court or federal court of the United States of America sitting in New Jersey, and any appellate court thereof, in any action or proceeding arising out of or relating to this Agreement, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be heard and determined in any such New Jersey State court or, to the extent permitted by law, in such federal court.

 

3.2                               Amendments. This Agreement may not be amended except by written agreement signed by ConnectOne and by the Shareholder.

 

3.3                               Entire Agreement. This Agreement constitutes the entire agreement and supersedes all other prior agreements, understandings, representations and warranties, both written and oral, among the parties to this Agreement with respect to the subject matter of this Agreement.

 

3.4                               Counterparts; Execution. This Agreement may be executed in any number of counterparts, all of which are one and the same agreement. This Agreement may be executed by facsimile or pdf signature by any party and such signature is deemed binding for all purposes hereof, without delivery of an original signature being thereafter required.

 

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3.5                               Effectiveness and Termination. This Agreement will become effective when signed by the parties hereto and shall terminate on the Restricted Transfer Termination Date and be of no further force or effect at such time. Upon such termination, except for any rights any party may have in respect of any breach by any other party of its obligations hereunder, neither party hereto shall have any further obligation or liability hereunder.

 

3.6                               Proxy. The Shareholder hereby constitutes and appoints the President of ConnectOne until the Restricted Transfer Termination Date (at which time this proxy shall automatically be revoked), with full power of substitution, as the Shareholder’s proxy with respect to the matters set forth herein, including without limitation, each of the matters described in Section 2.1  of this Agreement, and hereby authorizes such proxy to vote, if and only if the Shareholder (i) fails to vote or (ii) attempts to vote (whether by proxy, in person or by written consent) in a manner that is inconsistent with the terms of this Agreement, all of such Shareholder’s Owned Shares in the manner contemplated by Section 2.1  of this Agreement. The proxy granted pursuant to the immediately preceding sentence is given to induce ConnectOne to execute the Merger Agreement and, as such, is coupled with an interest and shall be irrevocable unless and until this Agreement or any such rights granted hereunder terminate or expire pursuant to the terms hereof. The Shareholder hereby revokes any and all previous proxies with respect to the Shareholder’s Owned Shares and shall not hereafter, unless and until this Agreement or any rights granted hereunder terminate or expire pursuant to the terms hereof, purport to grant any other proxy or power of attorney with respect to any of the Shareholder’s Owned Shares, deposit any of the Shareholder’s Owned Shares into a voting trust or enter into any agreement (other than this Agreement), arrangement or understanding with any person or entity, directly or indirectly, to vote, grant any proxy or give instructions with respect to the voting of any of any of the Shareholder’s Owned Shares, in each case, with respect to any of the matters set forth herein (other than the granting of a proxy in connection with the Company Shareholder Meeting to vote in a manner consistent with Section 2.1  of this Agreement).

 

3.7                               Equitable Remedies. The parties hereto agree that irreparable harm would occur in the event that any of the agreements and provisions of this Agreement were not performed fully by the parties hereto in accordance with their specific terms or conditions or were otherwise breached, and that money damages are an inadequate remedy for breach of this Agreement because of the difficulty of ascertaining and quantifying the amount of damage that will be suffered by the parties hereto in the event that this Agreement is not performed in accordance with its terms or conditions or is otherwise breached. It is accordingly hereby agreed that the parties hereto shall be entitled to an injunction or injunctions to restrain, enjoin and prevent breaches of this Agreement by the other party and to enforce specifically the terms and provisions hereof in any court referred to in Section 3.1 hereof, such remedy being in addition to, and not in lieu of, any other rights and remedies to which the other parties are entitled to at law or in equity.

 

3.8                               Legending of Shares.  If so requested by ConnectOne, each Shareholder agrees that the Company Common Shares, if certificated, shall bear a legend stating that they are subject to this Agreement.

 

3.9                               No Ownership Interest.  Nothing contained in this Agreement shall be deemed to vest in ConnectOne any direct or indirect ownership or incidence of ownership of or with respect to any Company Common Shares.  All rights, ownership and economic benefits of and relating to

 

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the Company Common Shares shall remain vested in and belong to the Shareholder, and ConnectOne shall not have any authority to direct the Shareholder in the voting of any of the Company Common Shares, except as otherwise provided herein.

 

3.10                        Waiver of Jury Trial. EACH PARTY HERETO HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT TO ANY SUIT, ACTION OR OTHER PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY. EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE OF ANY OTHER PARTY HERETO HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF ANY SUIT, ACTION OR OTHER PROCEEDING, SEEK TO ENFORCE THAT FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT, BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 3.10.

 

3.11                        Construction. This Agreement shall be deemed to have been drafted by each of the parties hereto and, consequently, when construing its terms, none of the parties will be deemed to have been the draftsperson.

 

[signature pages follow]

 

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IN WITNESS WHEREOF, each party hereto has caused this Agreement to be signed as of the date first above written.

 

	
 
    	
ConnectOne   Bancorp, Inc.
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
Title:
    

 

(Shareholder signature page follows)

 

[Signature Page to Voting Agreement]

 

 

	
 
    	
SHAREHOLDER
    
	
 
    	
 
    
	
 
    	
Shareholder:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
Signature:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
Title,   if applicable:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
Owned   Shares:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
Jointly   Owned Shares:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
Notice   Address:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    

 

[Signature Page to Voting Agreement]Exhibit

Exhibit 10.1

AMENDMENT AND CONSENT NO. 1 TO CREDIT AGREEMENT

This AMENDMENT AND CONSENT NO. 1 TO CREDIT AGREEMENT (this “Consent”) is entered into as of August 14, 2019, by and among Windstream Services, LLC, a Delaware limited liability company and a debtor and debtor-in-possession under chapter 11 of the Bankruptcy Code (the “Borrower”), Windstream Holdings, Inc., a Delaware corporation and a debtor and debtor-in-possession under chapter 11 of the Bankruptcy Code (“Holdco”) as a Guarantor, the other Guarantors party hereto, each as a debtor and debtor-in-possession under chapter 11 of the Bankruptcy Code (together with Holdco, the “Guarantors”), the Lenders party hereto constituting at least the Required Lenders (the “Consenting Lenders”), and Citibank, N.A., as Administrative Agent (in such capacity, the “Administrative Agent”) and as Collateral Agent (in such capacity, the “Collateral Agent” and together with the Administrative Agent, the “Agent”).
RECITALS
WHEREAS, the Borrower, Holdings, the other Guarantors, the Administrative Agent, the Collateral Agent, and the Lenders party thereto from time to time entered into that certain Superpriority Secured Debtor-In-Possession Credit Agreement, dated as of March 13, 2019 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”); 
WHEREAS, Section 5.01(a) and (b) of the Credit Agreement require delivery of certain annual and quarterly financial statements of the Borrower, which financial statements are required to be certified (the “GAAP Compliance Certification”) by a Financial Officer as presenting fairly in all material respects the financial condition and results of operations of the Borrower and its consolidated Subsidiaries on a consolidated basis in accordance with GAAP consistently applied; 
WHEREAS, on February 25, 2019, Holdco and all of its subsidiaries, including the Borrower and the other Guarantors, filed voluntary petitions (the “Chapter 11 Cases”) for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York. The Borrower has advised the Administrative Agent and the Lenders that in  connection with the Chapter 11 Cases, the Borrower and the other debtors have conducted an investigation and further analyzed the contractual arrangement pursuant to that certain long-term triple-net master lease, dated as April 24, 2015 (as amended, supplemented or otherwise modified in accordance with the terms thereof, the  “Uniti Arrangement”), among Holdco and certain subsidiaries of Uniti Group, Inc. (“Uniti”), and on July 25, 2019, the Borrower and the other debtors filed a complaint in the Chapter 11 Cases seeking, among other things, to recharacterize the Uniti Arrangement from a lease to a financing. Additionally, the Borrower and Uniti are engaged in a mediation process as part of the Chapter 11 Cases. The results of litigation and mediation (collectively, the “Uniti Litigation”) of these issues are uncertain. In light of these developments, although the financial statements account for the Uniti Arrangement as an operating lease (consistent with reporting period ended March 31, 2019), the accounting treatment of the Uniti Arrangement is under evaluation and may change, and the financial statements of the Borrower and its Subsidiaries cannot technically comply with GAAP because the accounting treatment regarding the Uniti Arrangement is undetermined and uncertain at this time. Regardless of the accounting for the Uniti Arrangement, the amounts presented for adjusted OIBDA, adjusted OIBDAR, adjusted free cash flow and adjusted capex would not change.
WHEREAS, the Borrower has requested and the Administrative Agent and the Consenting Lenders have agreed that notwithstanding anything to the contrary in the Credit Agreement or any other Loan Document to accept the certification set forth in Section 2 below in lieu of the GAAP Compliance Certification otherwise required by the Credit Agreement or any other Loan Document; and

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NOW, THEREFORE, in consideration of the parties’ mutual promises in this Consent, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows:
AGREEMENT
1.Definitions.  Any capitalized terms not specifically defined herein shall have the meaning ascribed to them in the Credit Agreement.

2.Consent.  As of the Consent Effective Date (as defined below), the Administrative Agent and the Consenting Lenders hereby agree and acknowledge that notwithstanding anything to the contrary in the Credit Agreement or the other Loan Document, the Borrower shall be permitted to replace the GAAP Compliance Certification with the following certification:

“Enclosed herewith is a copy of the [quarterly]/[annual] financial statements of the Borrower and its Subsidiaries as of [Insert date of such [quarterly]/[annual] financial statements] (the “Computation Date”), which financial statements present fairly in all material respects the financial condition and results of operations of the Borrower and its consolidated Subsidiaries on a consolidated basis consistent with GAAP, excluding the accounting for the Uniti Arrangement, which for the avoidance of doubt, is accounted for as an operating lease, consistently applied [, subject to normal year-end audit adjustments and the absence of footnotes,] NTD: only to be included in connection with delivery of quarterly financial statements.  but for the matters regarding the Uniti Arrangement discussed in the remainder of this paragraph. As previously disclosed, on February 25, 2019, Holdco and all of its subsidiaries, including the Borrower and the other Guarantors, filed voluntary petitions (the “Chapter 11 Cases”) for reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York. In connection with the Chapter 11 Cases, the Borrower and the other debtors have conducted an investigation and further analyzed the contractual arrangement pursuant to that certain long-term triple-net master lease, dated as of April 24, 2015 (as amended, supplemented or otherwise modified in accordance with the terms thereof, the “Uniti Arrangement”) among Holdco and certain subsidiaries of Uniti Group, Inc. (“Uniti”), and on July 25, 2019, the Borrower and the other debtors filed a complaint in the Chapter 11 Cases seeking, among other things, to recharacterize the Uniti Arrangement from a lease to a financing. Additionally, the Borrower and Uniti are engaged in a mediation process as part of the Chapter 11 Cases. The results of litigation and mediation of these issues are uncertain. In light of these developments, although the financial statements account for the Uniti Arrangement as an operating lease (consistent with reporting period ended March 31, 2019), the accounting treatment of the Uniti Arrangement is under evaluation and may change, and the financial statements of the Borrower and its Subsidiaries cannot technically comply with GAAP because the accounting treatment regarding the Uniti Arrangement is undetermined and uncertain at this time. Regardless of the accounting for the Uniti Arrangement, the amounts presented for adjusted OIBDA, adjusted OIBDAR, adjusted free cash flow and adjusted capex would not change.”
3.Amendment. As of the Consent Effective Date (as defined below), the Administrative Agent and the Consenting Lenders hereby agree that the Credit Agreement is hereby amended as follows:

(a)Section 5.01(a) of the Credit Agreement shall be amended and restated in its entirety as follows:

	
					
	 
	 
	 
	 
	 

1 NTD: only to be included in connection with delivery of quarterly financial statements.

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“as soon as available and in no event later than 90 days after the end of each Fiscal Year (except for the Fiscal Year ending December 31, 2019), its audited consolidated balance sheet and related statements of operations, stockholders’ equity and cash flows as of the end of and for such Fiscal Year, setting forth in each case in comparative form the figures for the previous Fiscal Year, all reported on by PricewaterhouseCoopers LLP or other independent public accountants of recognized national standing (without any qualification or exception as to the scope of such audit) to the effect that such consolidated financial statements present fairly in all material respects the financial condition and results of operations of the Borrower and its consolidated Subsidiaries on a consolidated basis consistent with GAAP, excluding the accounting for the Uniti Arrangement, which for the avoidance of doubt, is accounted for as an operating lease, consistently applied (as modified by Amendment and Consent No. 1 to the Credit Agreement, dated as of August 14, 2019);”

(b)Section 5.01(b) of the Credit Agreement shall be amended and restated in its entirety as follows:

“as soon as available and in no event later than 45 days after the end of each of the first three Fiscal Quarters of each Fiscal Year and the Fiscal Quarter ending December 31, 2019, its consolidated balance sheet and related statements of operations, stockholders’ equity and cash flows as of the end of and for such Fiscal Quarter and the then elapsed portion of the Fiscal Year, 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 a Financial Officer as presenting fairly in all material respects the financial condition and results of operations of the Borrower and its consolidated Subsidiaries on a consolidated basis consistent with GAAP, excluding the accounting for the Uniti Arrangement (as defined in the Amendment and Consent No. 1 to the Credit Agreement, dated as of August 14, 2019), which for the avoidance of doubt, is accounted for as an operating lease, consistently applied, subject to normal year-end audit adjustments and the absence of footnotes (as modified by Amendment and Consent No. 1 to the Credit Agreement, dated as of August 14, 2019);” 
4.Conditions Precedent.  This Agreement shall be effective (the “Consent Effective Date”) immediately upon the Administrative Agent (or its outside counsel) receiving an executed counterpart (or written evidence satisfactory to the Administrative Agent (which may include a facsimile or other electronic transmission) that such party has signed a counterpart) of this Consent from the Borrower, the other Loan Parties, the Administrative Agent, the Collateral Agent and the Lenders constituting at least the Required Lenders. 

5.Representations and Warranties.  To induce the other parties hereto to enter into this Consent, the Borrower represents and warrants to each other party hereto that, as of the Consent Effective Date:

(a)the representations and warranties of the Borrower and each other Loan Party contained in Article 3 of the Credit Agreement or any other Loan Document are true and correct in all material respects; provided that, (x) to the extent that such representations and warranties specifically refer to an earlier date, they shall be true and correct in all material respects as of such earlier date and (y) any representation or warranty that is qualified as to “materiality”, “Material Adverse Effect” or similar language shall be true and correct in all respects on and as of any such date; 

(b)this Consent has been duly authorized, executed and delivered by it, and each of this Consent the documents and instruments executed in connection herewith by Borrower constitutes its legal, valid and binding obligation, enforceable against it in accordance with its terms, subject to 

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Bankruptcy Law, laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law.; and

(c)no Default has occurred and is continuing.

6.Ratification.  

(a)All of the terms and conditions of the Credit Agreement and the other Loan Documents remain in full force and effect and none of such terms and conditions are, or shall be construed as, otherwise amended or modified, except as specifically set forth herein. 

(b)Each of the Borrower and each other Loan Party hereby ratifies and reaffirms the Secured Obligations, the Credit Agreement, each of the other Loan Documents to which it is a party and all of the covenants, duties, indebtedness, liabilities and security interests under the Credit Agreement and the other Loan Documents to which it is a party.

(c)The execution, delivery and effectiveness of this Consent shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of any Lender or the Agent under any of the Loan Documents, nor constitute a waiver of any provision of any of the Loan Documents.  On and after the effectiveness of this Consent, this Consent shall for all purposes constitute a Loan Document.

7.Signatures.  This Consent may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract.  Delivery of an executed counterpart of a signature page of this Consent by telecopy or other electronic imaging (including in .pdf format) means shall be effective as delivery of a manually executed counterpart of this Consent.

8.Miscellaneous.  THIS CONSENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.  Sections 9.09 and 9.10 of the Credit Agreement are incorporated by reference herein mutatis mutandis.  The provisions of this Consent shall be binding upon and inure to the benefit of the Loan Parties, Administrative Agent and the Lenders and their respective successors and permitted assigns.

[Signature Pages to Follow]
    

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IN WITNESS WHEREOF, the parties hereto have caused this Consent to be executed as of the date first above written.
	
		
	 
	 

	WINDSTREAM SERVICES, LLC, as Borrower

	 

	By:
	/s/ Robert E. Gunderman

	Name:
	Robert E. Gunderman

	Title:
	Chief Financial Officer and Treasurer

[Signature Page to Amendment and Consent No. 1 to Credit Agreement]

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	Citibank, N.A., as Administrative Agent and Collateral Agent

	 

	By:
	/s/ David L. Smith

	Name:
	David L. Smith

	Title:
	Vice President and Director

[Signature Page to Amendment and Consent No. 1 to Credit Agreement]

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[LENDER SIGNATURE PAGES ON FILE WITH ADMINISTRATIVE AGENT]
    

 

    

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ACKNOWLEDGED AND AGREED TO BY:

	
		
	 
	 

	Windstream Holdings, Inc.,

a Delaware corporation

	 

	By:
	/s/ Robert E. Gunderman

	Name:
	Robert E. Gunderman

	Title:
	Chief Financial Officer and Treasurer

THE LOAN PARTIES LISTED ON ANNEX I HERETO

	
		
	By:
	/s/ Robert E. Gunderman

	Name:
	Robert E. Gunderman

	Title:
	Chief Financial Officer and Treasurer

[Signature Page to Amendment and Consent No. 1 to Credit Agreement]

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Annex 1

[ON FILE WITH ADMINISTRATIVE AGENT]

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