Document:

Exhibit
4.1(h)

 

[EXECUTION
COPY]

 

SECOND AMENDMENT

 

THIS SECOND
AMENDMENT, dated as of  November 23,
2004 (this “Second Amendment”), is among AMC ENTERTAINMENT INC., a
Delaware corporation (the “Borrower”) and the Lenders (as defined below)
signatories hereto.

 

W I T N E S S E T H:

 

WHEREAS, the
Borrower, certain financial institutions from time to time parties thereto
(collectively, the “Lenders”), The Bank of Nova Scotia as administrative
agent for the Lenders (the “Administrative Agent”), Bank of America N.A.
as syndication agent (the “Syndication Agent”) and Citicorp North
America, Inc. and General Electric Capital Corporation as co-documentation
agents (the “Co-Documentation Agents”) are parties to the Second Amended
and Restated Credit Agreement, dated as of March 26, 2004, as amended or
otherwise modified prior to the date hereof (as further amended, supplemented,
amended and restated or otherwise modified prior to the date hereof, the “Existing
Credit Agreement”);

 

WHEREAS, the
Borrower has requested that the Lenders amend the Existing Credit Agreement in
certain respects, as described below; and

 

WHEREAS, the
Lenders have agreed, subject to the terms and conditions set forth herein, to
amend the Existing Credit Agreement as set forth below (the Existing Credit
Agreement, as amended by this Amendment, being referred to as the “Credit
Agreement”);

 

NOW,
THEREFORE, in consideration of the agreements herein contained, and for other
valuable consideration receipt of which is hereby acknowledged, the parties
hereto hereby agree as follows.

 

PART I

DEFINITIONS

 

SUBPART
1.1.  Definitions.  The following terms (whether or not
underscored) when used in this Second Amendment shall have the following
meanings (such meanings to be equally applicable to the singular and plural
form thereof):

 

“Borrower”
is defined in the preamble.

 

“Credit
Agreement” is defined in the third recital.

 

“Equity
Contribution” is defined in Subpart 2.1.1.

 

“Existing
Credit Agreement” is defined in the first recital.

 

“Loan Party”
means the Parent, the Borrower and each Guarantor.

 

“Merger
Agreement” is defined in Subpart 2.1.1.

 

 

“Merger
Date Materially Adverse Effect” is defined in Subpart 3.4.

 

“Merger
Notes” is defined in Subpart 2.1.1.

 

“Merger Sub”
is defined in Subpart 2.1.1.

 

“Parent”
is defined in Subpart 2.1.1.

 

“Parent
Guaranty and Pledge Agreement” is defined in Subpart 2.1.1.

 

“Parent
Notes” is defined in Subpart 2.1.1.

 

“Second
Amendment” is defined in the preamble.

 

“Second
Amendment Effective Date” is defined in Part III.

 

“Transaction”
is defined in Subpart 2.1.1.

 

SUBPART
1.2.  Other Definitions.  Terms for which meanings are provided in the
Existing Credit Agreement are, unless otherwise defined herein or the context
otherwise requires, used in this Second Amendment with such meanings.

 

PART II

AMENDMENTS TO THE

EXISTING CREDIT AGREEMENT

 

Effective on
the Second Amendment Effective Date, the Existing Credit Agreement is hereby
amended in accordance with this Part.

 

SUBPART
2.1.  Amendments to Article I.  Article I of the Existing Credit
Agreement is hereby amended as follows:

 

SUBPART
2.1.1.  Section 1.1 of the Existing
Credit Agreement is hereby amended by inserting the following definitions in
such Section in the appropriate alphabetical sequence:

 

“Equity Contribution”
means the contribution by the Sponsors and certain other co-investors of at
least $785,152,000 (which amount may be reduced by an aggregate amount up to
the sum (without duplication) of (x) the amount by which the legal, advisory
and financing fees and expenses are less than $60,000,000 and (y) the amount of
available cash and cash equivalents on the books of the Borrower on the date of
consummation of the Transaction which is in excess of $360,000,000, but solely
to the extent such amount set forth in this clause (y) does not exceed
$30,000,000) to the equity of the Parent and the immediate contribution by the
Parent of such amount to the common equity of Merger Sub.

 

“JPM Group” means (i)  JP
Morgan Partners, LLC, (ii) any Affiliates of J.P. Morgan Partners, LLC and
(iii) any Person with whom J.P. Morgan Partners,

 

2

 

LLC or any of
its Affiliates may be deemed as part of a “group” with the meaning of Section 13(d)(3)
of the Exchange Act.

 

“Material Indebtedness” means, collectively, the Subordinated
Debt, the Indebtedness evidenced by the Merger Notes and the Note Repurchase
Financing.

 

“Material Indebtedness Documents” means, collectively, the
Subordinated Debt Documents and the Merger Notes Documents.

 

“Merger Agreement” means the Agreement and Plan of Merger, dated
as of July 22, 2004 among the Parent, Merger Sub and the Borrower, as
amended, supplemented, amended and restated or otherwise modified from time to
time.

 

“Merger Note Indentures” means (i) the Indenture dated as of August 18,
2004 pursuant to which $250,000,000 principal amount of senior notes due 2012
were issued between Merger Sub and HSBC Bank USA as the initial trustee and
(ii) the Indenture dated as of August 18, 2004 pursuant to which $205,000,000
principal amount of senior floating rate notes due 2010 were issued between
Merger Sub and HSBC Bank USA as the initial trustee, each as amended,
supplemented, amended and restated or otherwise modified and in effect from
time to time in accordance with Section 8.2.6.

 

“Merger Notes” means, collectively, the Borrower’s (i)
$250,000,000 principal amount of senior notes due 2012 and (ii) $205,000,000
principal amount of senior floating rate notes due 2010.

 

“Merger Notes Documents” means the Merger Note Indentures, the
Merger Notes issued thereunder and any other loan agreements, indentures, note
purchase agreements, promissory notes, guarantees, and other instruments and
agreements evidencing the terms of the Merger Notes, as amended, supplemented,
amended and restated or otherwise modified from time to time.

 

“Merger Sub” means Marquee Inc., a Delaware corporation.

 

“Non-Permitted Institution” means any financial institution
identified in the letter, dated as of the Second Amendment Effective Date, between
the Borrower and the Administrative Agent, as amended, supplemented, amended
and restated or otherwise modified by the parties thereto from time to time.

 

“Note Repurchase Financing” is defined in Section 8.2.1(xi).

 

“Parent” means Marquee Holdings Inc., a Delaware corporation.

 

“Parent Guaranty and Pledge Agreement” means the Guaranty and
Pledge Agreement dated as of the Second Amendment Effective Date executed by
the Parent for the benefit of the Administrative Agent, substantially in the
form of Exhibit J hereto, as amended, supplemented, amended and restated
or otherwise modified from time to time.

 

3

 

“Parent Notes” means the Parent’s 12% senior discount notes due
2014 issued for gross proceeds of $169,917,760.

 

“Second Amendment” means the Second Amendment, dated as of November 23,
2004, to this Agreement, among the Borrower and the Lenders parties thereto.

 

“Second Amendment Effective Date” means the date on which each
of the conditions in Part III of the Second Amendment shall have been
satisfied.

 

“Shareholders Agreement” means the Shareholders Agreement among
the Parent, the Permitted Holders and certain other Persons from time to time
party thereto,  which shall be on terms
and conditions satisfactory to the Administrative Agent, as amended,
supplemented, amended and restated or otherwise modified from time to time.

 

“Sponsors” means Apollo Management, L.P. and J.P. Morgan
Partners, LLC and/or certain of their respective Affiliates.

 

“Tax Sharing Agreement” the Tax Sharing Agreement among the
Parent, the Borrower and certain Subsidiaries of the Borrower, which shall be
on terms and conditions satisfactory to the Administrative Agent, as amended,
supplemented, amended and restated or otherwise modified from time to time.

 

“Transaction” means, collectively, (i) the Equity Contribution,
(ii) the merger of Merger Sub with and into the Borrower, with the Borrower
being the surviving entity (the “Merger”), and the repurchase of the
Capital Stock of the Borrower, in each case pursuant to the terms of the Merger
Agreement, (iii) the redemption of the Existing Preferred Stock and payment of
related dividends, (iv) the issuance of the Merger Notes and (v) the issuance
or incurrence of the Note Repurchase Financing and related transactions.

 

SUBPART
2.1.2.  Section 1.1 of the Existing
Credit Agreement is hereby further amended as follows:

 

(a)  the definition of “Asset Sale” is hereby
amended by deleting the period at the end thereof and replacing it with:

 

; provided, however, that “Asset Sale” shall
not include any aspect of the Transaction.

 

(b)  the definition of “Annualized EBITDA” is
hereby amended by deleting the words “for the Borrower and its Consolidated
Subsidiaries” and replacing them with “with respect to any Person”

 

(c)  The definition of “Change in Control” is
hereby amended and restated in its entirety as follows:

 

4

 

“Change in
Control” means

 

(a)  the direct or indirect sale, lease, exchange
or other transfer of all or substantially all of the assets of the Parent to
any Person or entity or group of Persons or entities acting in concert as a
partnership or other “group” (a “Group of Persons”) with the effect that the
holders of the Parent’s outstanding Voting Stock prior to such event are the
beneficial owners (within the meaning of the Exchange Act as in effect on the
Effective Date) of less than 50% of the votes eligible to be cast on any matter
of the then   outstanding Voting Stock of
the resulting, surviving or transferee Person or Persons; or

 

(b) the merger
or consolidation of the Parent with or into another corporation with the effect
that the holders of the Parent’s outstanding Voting Stock prior to such merger
or consolidation are the beneficial owners (within the meaning of the Exchange
Act as in effect on the Effective Date) of less than 50% of the votes eligible
to be cast on any matter of the then outstanding Voting Stock of the surviving
corporation of such merger or the corporation resulting from such
consolidation;  or

 

(c) the
replacement of a majority of the Board of Directors of the Parent, over a
two-year period, from the directors  who
constituted the Board of Directors of the Parent at the beginning of such
period, which replacement shall not have been approved by the Board of
Directors of the Parent (or replacement directors approved by the Board of
Directors of the Parent), as constituted at the beginning of such period; or

 

(d) a Person
or Group of Persons other than the Permitted Holders shall, as a result of a
tender or exchange offer, open market purchases, privately negotiated
purchases, merger or consolidation or otherwise, have become the beneficial
owner (within the meaning of Rule 13d-3 under the Exchange Act) of Voting Stock
of the Parent (on a fully-diluted basis) having 33-1/3% of the votes eligible
to be cast on any matter by such Voting Stock; or

 

(e) for so
long as any note indenture is in effect with respect to Subordinated Debt, any
other “Change of Control” (or such other term with similar meaning as defined
in any of such note indentures) occurs and, as a result of such “Change of
Control” more than 20% of the aggregate outstanding principal amount of any
issuance of such Subordinated Debt is tendered for repurchase or redesignation;
or

 

(f) the
failure of the Parent at any time to directly own beneficially and of record on
a fully diluted basis 100% of the outstanding Capital Stock of the Borrower
such Capital Stock to be held free and clear of all Liens (other than Liens
granted under a Loan Document).

 

5

 

(d)  the definition of “Consolidated EBITDA” is
hereby amended by (i) deleting the word “and” appearing at the end of clause
(v) thereof and (ii) inserting a new clause (vii) at the end of clause (vi)
thereof, to read as follows:

 

and (vii) fees, expenses
and other costs incurred in connection with the Transaction and the financings
consummated in connection therewith.

 

(e)  the definition of “Durwood Interests” is
hereby deleted.

 

(f)  The definition of “Guarantor” is hereby
amended and restated in its entirety as follows:

 

“Guarantor” means the Parent and any
Subsidiary that has executed a counterpart of the Significant Subsidiary
Guaranty, including pursuant to Section 8.1.9.

 

(g)  Clause (y) of the definition of “Interest
Coverage Ratio” is hereby amended by inserting the phrase “of the Borrower and
its Consolidated Subsidiaries” immediately after the words “Consolidated
Interest Expense”.

 

(h)  The definition of “Loan Document” is hereby
amended and restated in its entirety as follows:

 

“Loan
Document” means this Agreement and each Instrument from time to time
executed and delivered to the Administrative Agent or any Lender pursuant to
this Agreement, whether or not mentioned herein, including the Notes, the Fee
Letters, the Extension of Credit Requests, the Issuance Requests, the
Significant Subsidiary Guaranty, the Parent Guaranty and Pledge Agreement, the
Security Documents and any Guaranty delivered to the Administrative Agent
pursuant to the terms of this Agreement.

 

(i)  The definition of “Net Indebtedness” is
hereby amended and restated in its entirety to read as follows:

 

“Net Indebtedness” means, with respect to any Person at any
time, (i) the outstanding principal amount (or in the case of Indebtedness
issued at discount, the accreted amount) of Indebtedness of such Person
(determined on a consolidated basis) as of such time minus (ii) cash and
Cash Equivalents of such Person (determined on a consolidated basis) at such
time; provided that for the purposes of calculating Net Indebtedness of
the Parent, the amount of cash and Cash Equivalents subtracted in clause
(ii) above shall not exceed the amount of the outstanding principal amount
(or in the case of Indebtedness issued at discount, the accreted amount) of
Indebtedness of the Parent.

 

(j)  The definition of “Permitted Holders” is
hereby amended and restated in its entirety to read as follows:

 

“Permitted Holders” means,
collectively, the JPM Group and the Apollo Group.

 

6

 

(k)  The definition of “Security Agreement” is
amended by replacing the words “the Borrower and each Guarantor” with the words
“the Borrower and each Guarantor (other than the Parent)”.

 

(l)  Clause (i) of the definition of “Total
Leverage Ratio” is hereby amended by replacing each appearance of the word “Borrower”
therein with the word “Parent”.

 

SUBPART
2.2.  The last sentence of Section 1.3
of the Existing Credit Agreement is hereby amended and restated in its entirety
as follows:

 

Unless otherwise expressly provided, all financial covenants and
defined financial terms shall be computed on a consolidated basis for the
Borrower and its Consolidated Subsidiaries, in each case without duplication
and shall under no circumstances include the Parent in such computations.

 

SUBPART
2.3.  Section 3.10 of the Existing
Credit Agreement is hereby amended and restated in its entirety as follows:

 

SECTION 3.10.  Taxes. 
(i)  All payments by the Borrower
of principal of, and interest on, the Loans and all other amounts payable
hereunder shall be made free and clear of and without deduction for any present
or future income, stamp or other taxes, fees, duties, withholding or other
charges of any nature whatsoever imposed by any taxing authority, other than
(i) taxes imposed on or measured by any Lender’s net income or receipts , (ii)
franchise taxes imposed on such Lender pursuant to the laws of the jurisdiction
under which such Lender is organized or the jurisdiction in which the principal
office or applicable lending office of such Lender, as applicable, is located
or any subdivision thereof or therein, (iii) any branch profits tax imposed on
any Lender by the United States or by the jurisdiction of the Lender’s
principal office or applicable lending office, (iv) any tax attributable to
Lender’s failure to comply with Section 3.10(b), or (v) in the case
of a Lender that is not a “United States Person,” within the meaning of Section 7701(a)(30)
of the Internal Revenue Code of 1986, as amended (a “non-U.S. Lender”), any
withholding tax that is in effect and would apply to amounts payable to such
Lender at the time it becomes a party to this Agreement (or designates a new
applicable lending office), except to the extent such Lender (or assignor) was
entitled at the time of designation of a new applicable lending office or
assignment to receive additional amounts from the Borrower with respect to any
withholding tax pursuant to this Section 3.10 (such non-excluded
items being hereinafter referred to as “Taxes”).  In the event that any withholding or
deduction from any payment to be made by the Borrower hereunder is required in
respect of any Taxes pursuant to any applicable law, rule or regulation, then
the Borrower will:

 

(i)  pay to the relevant authority the full amount
required to be so withheld or deducted;

 

7

 

(ii)  promptly forward to the Administrative Agent
a copy of an official receipt or other documentation satisfactory to the
Administrative Agent evidencing such payment to such authority; and

 

(iii)  pay to the Administrative Agent for the
account of the Lenders such additional amount or amounts as is necessary to
ensure that the net amount actually received by each Lender, after giving
effect to any credit against Taxes received by each such Lender as a result of
such withholding or deduction, will equal the full amount such Lender would
have received had no such withholding or deduction been required.

 

(b)  Each Lender that is a non-U.S. Lender shall,
prior to the first due date of any payments of principal of, and interest on,
the Loans or any other amounts payable to such non-U.S. Lender hereunder and to
the extent legally entitled to do so, execute and deliver to the Borrower, two
original signed copies of United States Internal Revenue Service Form W-8BEN or
Form W-8ECI (or any successor form), appropriately completed certifying such
Lender’s entitlement to exemption from or a reduced rate of withholding of
United States withholding tax with respect to such payments, along with any
other appropriate documentation establishing such exemption or reduction (such
as statements certifying qualification from exemption with respect to portfolio
interest).  Each Lender that is a “United
States Person,” within the meaning of Section 7701(a)(30) of the Internal
Revenue Code of 1986, as amended shall, prior to the first due date of any
payments of principal of, and interest on, the Loans to be received by such
Lender and to the extent legally entitled to do so, execute and deliver to the
Borrower, two original signed copies of United States Internal Revenue Service
Form W-9 (or any successor form) appropriately completed.  In addition, each Lender agrees that from time
to time after the Closing Date, when a lapse in time or change in circumstances
renders the previous certification obsolete or inaccurate in any material
respect, it will deliver to the Borrower two new accurate and complete original
signed copies of the applicable Internal Revenue Service Form (along with any
other appropriate documentation).

 

(c)  As promptly as practicable after the payment
of any Taxes, and in any event within 45 days of any such payment being due,
the Borrower shall furnish to the Administrative Agent a copy of an official
receipt (or a certified copy thereof) evidencing the payment of such
Taxes.  The Administrative Agent shall
make copies of any receipt or other documentation evidencing  payment of any taxes by Borrower available to
any Lender upon request therefor.

 

(d)  The Borrower shall indemnify the
Administrative Agent and each Lender for any Taxes levied, imposed or assessed
on (and whether or not paid directly by) the Administrative Agent or such
Lender; provided that in the event the Borrower believes, in good faith that
such Taxes were not correctly or legally asserted by such governmental
authority, the Borrower will be permitted to contest such Taxes in accordance
with law at its sole expense (and the applicable Secured Party agrees to assist
the Borrower to the extent reasonably necessary at

 

8

 

the Borrower’s expense).  Promptly upon receipt of notice from the
Administrative Agent or any Lender that any such Taxes have been levied,
imposed or assessed, the Borrower shall pay such Taxes directly to the relevant
governmental authority, except to the extent the Borrower is contesting such
taxes in accordance with the preceding sentence.  In addition, so long as the Borrower has received
reasonable notice of such Taxes, the Borrower shall indemnify the
Administrative Agent and each Lender for any incremental Taxes that may become
payable by the Administrative Agent or any Lender as a result of any failure of
the Borrower to pay any Taxes when due to the appropriate governmental
authority (including any incremental Taxes arising as a result of a contest
conducted by the Borrower pursuant to this Section 3.10(d)) or to
deliver to the Administrative Agent, pursuant to clause (c), documentation
evidencing the payment of Taxes.  With
respect to indemnification for Taxes actually paid by the Administrative Agent
or any Lender or the indemnification provided in the immediately preceding
sentence, such indemnification shall be made within 30 days after the date the
Administrative Agent or such Lender, as the case may be, makes written demand
therefor.  The Borrower acknowledges that
any payment made to the Administrative Agent or any Lender or to any governmental
authority in respect of the indemnification obligations of the Borrower
provided in this clause shall constitute a payment subject to the provisions of
clause (a) and this clause.

 

(e)  If any Lender receives any refund with
respect to any Taxes for which the Borrower has paid any additional amounts or
indemnified amounts pursuant to this Section 3.10, then such Lender
shall promptly pay to the Borrower the portion of the sum of such refund and
any interest received with respect thereto as it determines, in its sole, good
faith judgment, will leave it, after such payment, in no better or worse
financial position than it would have been absent the imposition of such Taxes
and the payment of such additional amounts or indemnified amounts pursuant to
this Section 3.10; provided, however, that the
Borrower agrees to promptly return any amount paid to the Borrower pursuant to
this clause (e) upon notice from such Lender that such refund or any
portion thereof is required to be repaid to the relevant taxing authority.  No Lender shall be obligated to disclose
information regarding its tax affairs or computations to the Borrower in
connection with this clause (e) or any other provision of this Section 3.10.

 

(f)  If the Borrower is required to pay additional
amounts to or for the account of any Lender pursuant to this Section 3.10
as a result of a change in law or treaty occurring after such Lender first
became a party to this Agreement, then such Lender will, at the request of the
Borrower, negotiate with the Borrower in good faith with the objective of using
commercially reasonable efforts to take appropriate action to eliminate or
minimize any such additional amounts which thereafter may accrue and become
payable; provided, that no Lender shall be required to take any action
which, in the sole discretion of such Lender, is inconsistent with its internal
policy and legal and regulatory restrictions or is otherwise disadvantageous to
such Lender; provided that fees, charges, costs or

 

9

 

expenses that are related to such change shall be
borne by the Borrower on behalf of a Lender, and the mere existence of such
expenses, fees or costs shall not be deemed to be disadvantageous to the
Lender.

 

SUBPART
2.4.  Section 7.20 of the Existing
Credit Agreement is hereby amended by replacing the words “Subordinated Debt”
and “Subordinated Debt Documents” each time they appear in the heading and the
first two sentences of such Section with the words “Material Indebtedness”
and “Material Indebtedness Documents”, respectively.

 

SUBPART
2.5.  Article 8 of the Existing
Credit Agreement is hereby amended as follows:

 

SUBPART
2.5.1.  Clause (c) of Section 8.1.2
of the Existing Credit Agreement is hereby amended by replacing the words “the
Borrower and the Guarantors” with the words “the Borrower and the Guarantors
(other than the Parent)”.

 

SUBPART
2.5.2.  Section 8.1.9 of the
Existing Credit Agreement is hereby amended by replacing the words “Subordinated
Debt” in the second sentence thereof with the words “Material Indebtedness”.

 

SUBPART
2.5.3.  Clause (iii) of Section 8.2.1
of the Credit Agreement is hereby amended by replacing the words “any Guarantor”
each time they appear in such clause with the words “any Guarantor (other than
the Parent)”.

 

SUBPART
2.5.4.  Section 8.2.1 of the
Existing Credit Agreement is hereby amended by (i) deleting the words “Subordinated
Debt” in clause (ii) and replacing them with the words “Material Indebtedness
(other than the Note Repurchase Financing)”; (ii) deleting the word “and” at the
end of clause (ix); (iii) replacing the period at the end of clause (x) with “;
and” and (iv) inserting the following new clause (xi), to read as follows:

 

(xi)  Indebtedness of the
Borrower not otherwise described in clauses (i) through (x) in
the form of a new bridge financing and/or note offering, substantially on the
terms and conditions set forth in the term sheet attached hereto as Schedule 8.2.1(xi),
the proceeds of which must be used to repurchase any of the Existing
Subordinated Notes required to be repurchased by the Borrower as a result of a “Change
in Control” (as defined in such Existing Subordinated Notes) occurring as a
result of the Transaction in an aggregate principal amount not to exceed 101%
of the amount of Existing Subordinated Notes required to be repurchased and
refinancings thereof on terms and conditions no less favorable to the Borrower
than the terms and conditions of the Note Repurchase Financing (each a  “Note Repurchase Financing”);

 

SUBPART
2.5.5.  Clause (j) of Section 8.2.2
of the Existing Credit Agreement is hereby amended by replacing the words “Subordinated
Debt” in the first parenthetical thereof with the words “Material Indebtedness”.

 

SUBPART
2.5.6.  Clauses (a) and (c) of Section 8.2.3
of the Existing Credit Agreement are hereby amended and restated in their
entirety as follows:

 

10

 

(a)  the Total Leverage Ratio as
of the last day of any Fiscal Quarter occurring during any period set forth
below to be greater than the ratio set forth opposite such period:

 

	
  Period

  	
   

  	
  Total Leverage Ratio

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Second
  Amendment Effective Date through and including March 30, 2006

  	
   

  	
  5.75:1.00

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  March 31,
  2006 through and including March 29, 2007

  	
   

  	
  5.00:1

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  March 30,
  2007 through the Stated Maturity Date

  	
   

  	
  4.50:1

  	
   

  

 

(c)  the Senior Leverage Ratio as
of the last day of any Fiscal Quarter to exceed 3.50:1.

 

SUBPART
2.5.7.  Section 8.2.5 of the
Existing Credit Agreement is hereby amended by (i) deleting the word “and”
appearing at the end of clause (c); (ii) inserting “; and” at the end of clause
(d); and (iii) inserting a new clause (e) to read as follows:

 

(e) the Merger
in connection with the Transaction.

 

SUBPART
2.5.8.  Section 8.2.6 of the
Existing Credit Agreement is hereby amended by (i) replacing the words “Subordinated
Debt” in the heading with the words “Material Indebtedness”; (ii) inserting “(a)”
before the first sentence; and (iii) adding a new clause (b) after the first
sentence, to read as follows:

 

(b)  The Borrower will not amend
or otherwise modify any term or provision of the Merger Notes or the Note
Repurchase Financing which would (i) accelerate the date or increase the amount
of any required repayment, prepayment or redemption of the principal of the
Merger Notes or the Note Repurchase Financing, (ii) increase the rate or
accelerate the date for payment of the interest, premium (if any) or fees
payable on the Merger Notes or the Note Repurchase Financing or (iii) make the
covenants, events of default or remedies in the Merger Notes or the Note
Repurchase Financing (or instruments relating to the Merger Notes or the Note
Repurchase Financing) more restrictive on the Borrower than the terms of this
Agreement;

 

SUBPART
2.5.9.  Section 8.2.7 of the
Existing Credit Agreement is hereby amended and restated in its entirety as
follows:

 

SECTION 8.2.7.  Transactions with Affiliates.  The Borrower will not, and will not permit
any Subsidiary to, enter into, or cause, suffer or permit to exist any
transaction, arrangement or contract with any of its Affiliates (except for the
Parent, Guarantors and Wholly-Owned Subsidiaries) which is on terms which are

 

11

 

not on an arm’s-length basis other than (a) fees paid
to the Sponsors in connection with the Transaction, (b) management and advisory
fees paid to the Sponsors in an amount not exceed $2,000,000 in any Fiscal
Year, (c) actions taken pursuant to the Shareholders Agreement and (d) payments
made pursuant to the Tax Sharing Agreement.

 

SUBPART
2.5.10.  Section 8.2.8 of the
Existing Credit Agreement is hereby amended and restated in its entirety to
read as follows:

 

SECTION 8.2.8.  Limitation
on Restricted Payments.  The Borrower
will not, and will not permit any of its Subsidiaries to, declare or make a
Restricted Payment (other than Restricted Payments made by Subsidiaries to the
Borrower or Wholly-Owned Subsidiaries) other than that so long as no Default
has occurred and is continuing or would result therefrom (and after giving pro
forma effect to the making of such Restricted Payment) the Borrower and its
Subsidiaries may

 

(a)  make any Restricted Payments
to the extent the Borrower would also be permitted to make a “Restricted
Payment” (as defined in the 2014 Subordinated Note Indenture) under Section 4.06
of the 2014 Subordinated Note Indenture, such covenant contained in the 2014
Subordinated Note Indenture and all other terms of the 2014 Subordinated Note
Indenture to which reference is made in such section, together with all related
definitions and ancillary provisions, being hereby incorporated into this
Agreement by this reference as though specifically set forth in this Section; provided,
that for purposes of this Agreement all references to the “Company” as defined
in the 2014 Subordinated Note Indenture shall mean the Borrower and any other
defined terms used in the 2014 Subordinated Note Indenture that have equivalent
meanings in the Agreement or any other Loan Document shall have such meaning so
that the covenant made to the Trustee (as defined in the 2014 Subordinated Note
Indenture) for the benefit of the Noteholders (as defined in the 2014
Subordinated Note Indenture) set forth in Section 4.06 of the 2014
Subordinated Note Indenture runs to the benefit of the Lenders under this Agreement.  Further, when used in this Section, the
defined term “2014 Subordinated Note Indenture” means the 2014 Subordinated
Note Indenture, as in effect on the Second Amendment Effective Date and without
giving effect to any amendments, waivers or modifications thereto, or any
termination, repayment, defeasance, redemption, repurchase, or expiration
thereof, in each case unless separately expressly consented to in accordance
with Section 11.1; and

 

(b)  repurchase Capital Stock or Subordinated
Debt, if such repurchase is completed through the issuance of Capital Stock or
new Subordinated Debt.

 

SUBPART
2.5.11.  Section 8.2.10 of the
Existing Credit Agreement is hereby amended by inserting the parenthetical “(other
than the Parent)” immediately following the words “Guarantor” each time it
appears in such Section (and any clause thereof).

 

12

 

SUBPART
2.5.12.  Section 8.2.11 of the
Existing Credit Agreement is hereby amended by (i) deleting the word “and”
appearing at the end of clause (v); (ii) inserting the word “and” at the end of
clause (vi); and (iii) inserting a new clause (vii) to read as follows:

 

(vii)   unsecured Guaranties by any Guarantor (other
than the Parent) of the Merger Notes and of the Note Repurchase Financing.

 

SUBPART
2.5.13.  Clause (z) of Section 8.2.15
of the Existing Credit Agreement is hereby amended by replacing the words “Subordinated
Debt” with the words “Material Indebtedness”.

 

SUBPART
2.6.  Article 9 of the Existing
Credit Agreement is hereby amended as set forth below:

 

SUBPART
2.6.1.  Section 9.1.5 of the
Existing Credit Agreement is hereby amended by (i) replacing the words “the
Borrower or any Subsidiary” with “the Parent, the Borrower or any Subsidiary”
each time it appears in clauses (i), (iii) and (iv) of such Section; and (ii)
replacing the words “the Borrower or Subsidiary” with “the Parent, the Borrower
or any Subsidiary” in clause (iii) thereof.

 

SUBPART
2.6.2.  Section 9.1.7 of the
Existing Credit Agreement is hereby amended by replacing the words “the
Borrower” with “any Loan Party” the first two times they appear in such Section and
replacing the words “the Borrower” with “such Loan Party” the third and fourth
times they appear in such Section.

 

SUBPART
2.6.3.  Clause (ii) of Section 9.1.8
of the Existing Credit Agreement is hereby amended by replacing the words “The
Borrower or any Subsidiary” with the words “The Borrower, the Parent or any
Subsidiary”.

 

SUBPART
2.6.4.  Clauses (ii) and (iii) of Section 9.1.8
of the Existing Credit Agreement is hereby amended by replacing the words “the
Borrower or any Subsidiary” with the words “the Borrower, the Parent or any
Subsidiary” in each such clauses.

 

SUBPART
2.6.5.  Section 9.1.9 of the
Existing Credit Agreement is hereby amended by replacing (a) the words “the
Borrower and its Subsidiaries” with “the Parent, the Borrower and any of it
Subsidiaries” and (b) the words “the Borrower or any Subsidiaries” with “the
Parent, the Borrower or any Subsidiary”.

 

SUBPART
2.6.6.  Section 9.1.12 of the
Existing Credit Agreement is hereby amended by inserting the parenthetical “(other
than the Parent)” immediately following the words “Loan Party”.

 

SUBPART
2.7.  Article 11 of the Existing
Credit Agreement is hereby amended as set forth below:

 

SUBPART
2.7.1.  Clause (f)(i) of Section 11.1
of the Existing Credit Agreement is hereby amended by inserting the words “or
the Parent Guaranty and Pledge Agreement, as applicable,” after the words “Significant
Subsidiary Guaranty” in such clause.

 

13

 

SUBPART
2.7.2.  Clause (a) of Section 11.11
of the Existing Credit Agreement is hereby amended by inserting the following
proviso at the end:

 

; provided,
further that the prior consent of the Borrower shall be required where
such Lender has failed to fund its portion of any Borrowing (so long as the
other Lenders fund their portion of such Borrowing).

 

SUBPART
2.7.3.  Clause (b) of Section 11.11
of the Existing Credit Agreement is hereby amended by (a) inserting the clause “;
provided, however, notwithstanding the foregoing, the Borrower shall at
all times have a consent right to any assignment to a Non-Permitted Institution”
before the period at the end of clause (iii) thereof and (b) adding the words “except
in the case of an assignment to a Non-Permitted Institution, in which case such
consent will be deemed to be refused” before the period at the end of the
second sentence in such clause.

 

SUBPART
2.7.4.  Clause (e) of Section 11.11
of the Existing Credit Agreement is hereby amended by (i) deleting the word “and”
appearing at the end of clause (ii); (ii) inserting the word “and” at the end
of clause (iii); and (iii) inserting a new clause (iv), to read as follows:

 

(iv)  such Participant shall not be a Non-Permitted
Institution unless the Borrower has otherwise consented in its sole discretion;

 

SUBPART
2.7.5.  Clause (h) of Section 11.11
of the Existing Credit Agreement is hereby amended by inserting the words “that
is not a Non-Permitted Institution (unless the Borrower otherwise consents)
after the words “or a financial institution” in the first sentence thereof.

 

SUBPART
2.7.6.Section 11.11 of the Existing Credit Agreement is hereby amended by
inserting a new clause (i), to read as follows:

 

(i)  If any Lender (a “Non-Consenting
Lender”) does not consent to any requested amendment, waiver or other
modification to any Loan Document and such amendment, waiver or other
modification is consented to by the Required Lenders, the Borrower may, within
90 days of the deadline to consent to such amendment, waiver or other
modification, give notice (a “Replacement Notice”) in writing to the
Administrative Agent and such Non-Consenting Lender of its intention to replace
such Non-Consenting Lender with a financial institution or other Person (a “Replacement
Lender”) designated in such Replacement Notice; provided, however,
that no Replacement Notice may be given by the Borrower if such replacement
conflicts with any applicable law or regulation.  The Administrative Agent shall notify the
Borrower and such Non-Consenting Lender in writing whether the Replacement
Lender is satisfactory to the Administrative Agent (such notice and consent not
to be unreasonably withheld or delayed and not being required where the
Replacement Lender is already a Lender) and then such Non-Consenting Lender
shall assign, in accordance with Section 11.11, all of its
Commitments, Loans, Notes (if any) and other rights and obligations under this
Agreement and all other Loan Documents to such Replacement Lender; provided,
however, that (i) such assignment shall be without recourse,
representation or warranty and otherwise in accordance with Section 11.11,

 

14

 

(ii) the
purchase price paid by such Replacement Lender shall be in the amount of such
Non-Consenting Lender’s Loans, together with all accrued and unpaid interest
and fees in respect thereof, plus all other amounts owing to such
Non-Consenting Lender hereunder and (iii) the Borrower shall pay to the
Non-Consenting Lender and the Administrative Agent all reasonable out-of-pocket
expenses incurred by the Non-Consenting Lender and the Administrative Agent in
connection with such assignment and assumption (including the processing fees
described in Section 11.11). 
Upon the effective date of an assignment described above, the
Replacement Lender shall become a “Lender” for all purposes under the Loan
Documents.

 

SUBPART
2.8.  The schedules and exhibits to the
Existing Credit Agreement are hereby amended by inserting Schedule 8.2.1(xi)
hereto as a new Schedule 8.2.1(xi) attached to the Credit Agreement and Exhibit
J hereto as a new Exhibit J attached to the Credit Agreement.

 

PART III

CONDITIONS TO EFFECTIVENESS

 

This
Second Amendment (other than Part II) shall become effective on the
date that the Administrative Agent shall have received counterparts of
this Second Amendment duly executed and delivered on behalf of the Borrower and
the Required Lenders and the Credit Agreement will be deemed to be amended in
accordance with Part II on the date (the “Second Amendment Effective
Date”) when each of the conditions set forth in this Part have been
satisfied, but only if all of these conditions are satisfied (or waived by the
Required Lenders) on or prior to January 31, 2005.

 

SUBPART
3.1.  Parent Guaranty and Pledge
Agreement.  The Administrative Agent
shall have received, with counterparts for each Lender, the Parent Guaranty and
Pledge Agreement, dated as of the Second Amendment Effective Date and duly
executed by an Authorized Officer of the Parent, together with

 

(a)  certificates (in the case of Capital Stock
that are certificated securities (as defined in the UCC)) evidencing all of the
issued and outstanding Capital Stock owned by the Parent in the Borrower, which
certificates shall be accompanied by undated instruments of transfer duly
executed in blank, or, if any of such Capital Stock is an uncertificated
security (as defined in the UCC), confirmation and evidence satisfactory to the
Administrative Agent that the Administrative Agent for the benefit of the
Secured Parties has become the registered holder of the Capital Stock of the
Parent or an instrument executed by the Borrower whereby the Borrower agrees
that it will comply with instructions originated by the Administrative Agent
without further consent by the Parent; and

 

(b)  a financing statement naming the Parent as a
debtor and the Administrative Agent as the secured party to be filed under the
UCC in the Parent’s jurisdiction of organization to perfect the security
interests of the Administrative Agent pursuant to the Parent Guaranty and
Pledge Agreement.

 

15

 

The
Administrative Agent and its counsel shall be reasonably satisfied that (i) the
Lien granted to the Administrative Agent, for the benefit of the Secured
Parties, in the Capital Stock of the Borrower is a first priority (or local
equivalent thereof) security interest, subject, in certain cases, to Liens
permitted under the Loan Documents; and (ii) no Lien exists on any of the
Capital Stock of the Borrower other than the Lien created in favor of the
Administrative Agent, for the benefit of the Secured Parties, pursuant to a
Loan Document or, in certain cases, to Liens permitted under the Loan Documents.

 

SUBPART
3.2.  Affirmation and Consent.  The Administrative Agent shall have received
an affirmation and consent substantially in the form of Exhibit A
hereto, duly executed and delivered by an Authorized Officer of each Guarantor.

 

SUBPART
3.3.  Financial Information.  The Lenders shall have received a pro forma
consolidated balance sheet of the Parent and its Subsidiaries as at the date of
the most recent consolidated balance sheet made available via the Securities
and Exchange Commission’s EDGAR system and a pro forma statement of operations
for the most recent fiscal year and interim period and for the 12-month period
ending on the last day of such interim period, in each case adjusted to give
effect to the consummation of the Transaction and the financings contemplated
hereby as if such Transaction and related financings, with respect to the pro
forma balance sheet, had occurred on such date or with respect to the pro forma
statements of operations, had occurred on the first day of the applicable period,
prepared in accordance with Regulation S-X.

 

SUBPART
3.4.  Approvals, Litigation, etc.  All governmental approvals and the
shareholder approvals necessary in connection with completing the Transaction
and the financing thereof shall have been obtained and shall be in full force
and effect, and all applicable waiting periods shall have expired without any
action being taken by any competent authority that would restrain, prevent or
materially delay the performance by the Parent or the Borrower of its obligations
in respect of the Transaction or the financing thereof.  Except as disclosed in disclosure schedules
to the Merger Agreement, there shall be no action, suit, investigation or
proceeding pending against, or to the knowledge of the Parent or the Borrower
threatened against or affecting, the Parent, the Borrower or any of their
respective Subsidiaries or any of their respective properties or any of their
respective officers or directors, or for which the Parent, the Borrower or any
of their respective Subsidiaries is obligated to indemnify a third party, that
presently or in the future may be before any court or arbitrator or any
governmental body, agency or official except as would not, individually or in
the aggregate, reasonably be expected to (i) have a material adverse effect on
the condition (financial or otherwise), assets, liabilities, properties,
business or results of operations of the Parent, the Borrower and their
respective Subsidiaries, taken as a whole, other than any effect resulting from,
or relating to (A) the U.S. economy or financial markets in general, (B) the
theatrical exhibition industry in general and not specifically relating to (or
having a materially disproportionate effect (relative to the effect on other
persons operating in such industry) on) the Parent, the Borrower and their
respective Subsidiaries, taken as a whole (excluding for purposes of this
clause (B) any change, event, fact, development, effect, condition or
occurrence resulting from or relating to a worsening of current conditions due
to an act of terrorism in a theatre in North America or in any theatre owned or
operated by the Borrower) or (C) the execution of the Merger Agreement, the
public announcement thereof or any transaction contemplated hereby, or (ii)
prevent or materially delay

 

16

 

performance by the Parent or the Borrower of its obligations in respect
of the Transaction, the financing thereof or any of the transactions
contemplated hereby (collectively, a “Merger Date Materially Adverse Effect”).  There is no judgment, decree, injunction,
rule, writ or order of any governmental entity or arbitrator outstanding
against the Parent, the Borrower or any of their respective Subsidiaries which
would, individually or in the aggregate, reasonably be expected to have a
Merger Date Materially Adverse Effect. 
There shall not exist any default under any material debt agreements of
the Borrower.

 

SUBPART
3.5.  Opinion of Counsel.  The Administrative Agent shall have received
an opinion, dated the Amendment Effective Date, addressed to the Administrative
Agent and all Lenders from Latham & Watkins LLP, counsel to the Parent,
substantially in the form of Exhibit B hereto.

 

SUBPART
3.6.  Transaction; Outstanding Obligations.

 

(a)  The Parent shall have received at least
$169,000,000 in gross cash proceeds from the issuance and sale of the Parent
Notes (which proceeds shall, substantially simultaneously with the
effectiveness of this Amendment, have been released from escrow) and (B) the
Merger Sub shall have received $455,000,000 in gross cash proceeds from the
issuance and sale of the Merger Notes (which proceeds shall, substantially
simultaneously with the effectiveness of this Amendment, have been released
from escrow).

 

(b)  The Transaction shall have been consummated
in accordance with applicable law.  No
provision of the Merger Agreement and related documentation shall have been
waived, amended, supplemented or otherwise modified in any material respect
without approval of the Required Lenders (except if such waiver, amendment,
supplement or other modification could not reasonably be expected to be
materially adverse to the interests of the Lenders).

 

SUBPART
3.7.  Resolutions, etc.  The Administrative Agent shall have received

 

(a)  a copy of a good standing certificate, dated
a date reasonably close to the Amendment Effective Date, for the Borrower and
the Parent; and

 

(b)  a certificate, dated the date of Amendment
Effective Date, of the Secretary or an Assistant Secretary of the Borrower and
the Parent as to

 

(i)  resolutions of each such Person’s Board of
Directors then in full force and effect authorizing, to the extent relevant,
all aspects of the Transaction applicable to such Person and the execution,
delivery and performance of each Loan Document to be executed by such Person
and the transactions contemplated hereby and thereby,

 

(ii)  the incumbency and signatures of those of its
officers authorized to act with respect to this Agreement and each Loan
Document executed by it; and

 

17

 

(iii)  the full force and validity of each Organic
Document of such Person and copies thereof

 

upon which certificate the Administrative Agent and
each Lender may conclusively rely until the Administrative Agent shall have
received another certificate of the Secretary or an Assistant Secretary of the
Borrower or the Parent canceling or amending such prior certificate; and

 

SUBPART
3.8.  No Default, etc. Certificate.  The Administrative Agent shall have received
a certificate duly executed and delivered by an Authorized Officer of the
Borrower and the Parent and dated as of the Second Amendment Effective Date,
certifying: (i) that no Default before or after giving effect to this Second Amendment
has occurred and is continuing; (ii) that before and after giving effect to
this Second Amendment, all of the statements set forth in Sections 6.2.1 (other
than with respect to Section 7.6 and the last sentence of Section 7.4)
of the Existing Credit Agreement are true and correct; provided, however,
that each reference to a “Materially Adverse Effect” in the Loan Documents
shall, for purposes of such certificate, be deemed to be a Merger Date
Materially Adverse Effect, (iii) as to the events set forth in Subpart 3.4 and
(iv) true and complete copies of (A) the certificates of merger (merging Merger
Sub with the Borrower), (B) the Merger Notes Documents, (C) the Shareholders
Agreement, (D) the Tax Sharing Agreement and (E) the Parent Notes, together with
the indenture under which the Parent Notes are issued.  The Lenders hereby agree that the Borrower
may borrow up to $20,000,000 on the Second Amendment Effective Date (so long as
no more than $20,000,000 of Revolving Loans is outstanding after giving effect
to such borrowing) and that the certificate delivered pursuant to this Subpart
shall be in substitution for any requirement under the Credit Agreement that
the Borrower otherwise comply with Section 6.2.1 of the Credit Agreement.

 

SUBPART
3.9.  Amendment Fee.  The Administrative Agent shall have received
an amendment fee (but only for the account of each Lender that has executed and
delivered (including delivery by way of facsimile) a copy of this Second
Amendment to the attention of Grace Avedissian at Mayer, Brown, Rowe & Maw
LLP, 1675 Broadway (19th floor), New York, New York 10019, telecopy number
212-262-1910 at or prior to 5:00 p.m., New York time on November 23, 2004)
in the amount of 75 basis points of such Lender’s Commitment, as in effect after
giving effect to the effectiveness of this Second Amendment.

 

PART IV

MISCELLANEOUS PROVISIONS

 

SUBPART
4.1.  Cross-References.  References in this Second Amendment to any
Part or Subpart are, unless otherwise specified, to such Part or Subpart of
this Second Amendment.

 

SUBPART
4.2.  Loan Document Pursuant to
Existing Credit Agreement.  This
Second Amendment is a Loan Document executed pursuant to the Existing Credit
Agreement and shall be construed, administered and applied in accordance with
all of the terms and provisions of the Existing Credit Agreement.

 

SUBPART
4.3.  Successors and Assigns.  This Second Amendment shall be binding upon
and inure to the benefit of the parties hereto and their respective successors
and assigns.

 

18

 

SUBPART
4.4.  Full Force and Effect; Limited
Amendment.  Except as expressly
amended hereby, all of the representations, warranties, terms, covenants,
conditions and other provisions of the Existing Credit Agreement and the Loan
Documents shall remain unchanged and shall continue to be, and shall remain, in
full force and effect in accordance with their respective terms.  The amendments set forth herein shall be
limited precisely as provided for herein to the provisions expressly amended
herein and shall not be deemed to be an amendment to, waiver of, consent to or
modification of any other term or provision of the Existing Credit Agreement,
any other Loan Document referred to therein or herein or of any transaction or
further or future action on the part of the Borrower or any Loan Party which
would require the consent of the Lenders under the Existing Credit Agreement or
any of the Loan Documents.

 

SUBPART
4.5.  Governing Law.  THIS SECOND AMENDMENT
SHALL BE DEEMED TO BE A CONTRACT MADE UNDER AND GOVERNED BY THE INTERNAL LAWS
OF THE STATE OF NEW YORK (INCLUDING FOR SUCH PURPOSES SECTION 5-1401 AND
5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK).

 

SUBPART
4.6.  Payment of Fees and Expenses.  The Borrower hereby agrees to pay and
reimburse the Administrative Agent for all its reasonable fees and expenses
incurred in connection with the negotiation, preparation, execution and
delivery of this Second Amendment and related documents, including all
reasonable fees and disbursements of counsel to the Administrative Agent.

 

SUBPART
4.7.  Execution in Counterparts.  This Second Amendment may be executed in any
number of counterparts (including by way of facsimile) by the parties hereto,
each of which counterparts when so executed shall be an original, but all the
counterparts shall together constitute one and the same agreement.

 

SUBPART
4.8.  Headings.  The various headings of this Second Amendment
are inserted for convenience only and shall not affect the meaning or interpretation
of this Second Amendment or any provision hereunder.

 

SUBPART
4.9.  Representations and Warranties.  In order to induce the Lenders to execute and
deliver this Second Amendment the Borrower hereby represents and warrants to
the Lenders that on the date hereof, all of the statements set forth in Section 6.2.1
of the Existing Credit Agreement are true and correct.

 

19

 

IN WITNESS
WHEREOF, the parties hereto have caused this Second Amendment to be executed by
their respective officers hereunto duly authorized as of the day and year first
above written.

 

	
   

  	
  AMC
  ENTERTAINMENT INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By

  	
   

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  [INSERT NAME
  OF LENDER]

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By

  	
   

  
	
   

  	
   

  	
  Title:

  

 

 

SCHEDULE 8.2.1(XI)

 

[Term Sheet for Note Repurchase
Financing]

 

 

EXHIBIT A

 

[Affirmation and Consent]

 

 

EXHIBIT J

 

[Parent Guaranty and Pledge Agreement]Exhibit 4.5(b)

 

 

AMC ENTERTAINMENT INC.

 

AND

 

AMERICAN MULTI-CINEMA, INC.

AMC REALTY, INC.

AMC ENTERTAINMENT INTERNATIONAL, INC.

NATIONAL CINEMA NETWORK, INC.

AMC-GCT, INC.

AMERICAN MULTI-CINEMA OF FLORIDA, INC.

CENTERTAINMENT, INC.

PREMIUM THEATER OF MAYFAIR, INC.

PREMIUM CINEMA OF YORKTOWN, INC.

 CLUB
CINEMA OF MAZZA, INC.

PREMIUM THEATER OF FRAMINGHAM, INC.

GCT PACIFIC BEVERAGE SERVICES, INC. AND

AMC CARD PROCESSING SERVICES, INC.,

AS SUBSIDIARY GUARANTORS

 

AND

 

HSBC BANK USA, NATIONAL ASSOCIATION, AS TRUSTEE

 

 

FIRST SUPPLEMENTAL INDENTURE

 

 

DATED AS OF DECEMBER 23, 2004

 

 

 

This First Supplemental
Indenture, dated as of December 23, 2004 (this “Supplemental  Indenture”
or “Guarantee”), among American Multi-Cinema, Inc., AMC Realty, Inc.,
AMC Entertainment International, Inc., National Cinema Network, Inc., AMC-GCT,
Inc., American Multi-Cinema of Florida, Inc., Centertainment, Inc., Premium
Theater of Mayfair, Inc., Premium Cinema of Yorktown, Inc., Club Cinema of
Mazza, Inc., Premium Theater of Framingham, Inc., GCT Pacific Beverage
Services, Inc., AMC Card Processing Services, Inc. (each a “Subsidiary
Guarantor” and collectively, the “Subsidiary Guarantors”), AMC Entertainment
Inc. (together with its successors and assigns, the “Company”) and HSBC
Bank USA, National Association, as Trustee under the Indenture referred to
below.

 

W I T N E S S E T H:

 

WHEREAS, the
Company and the Trustee have heretofore executed and delivered an Indenture,
dated as of February 24, 2004 (the “Base Indenture”), as supplemented
by this Supplemental Indenture (the “Indenture”), providing for the
issuance of 8% Senior Subordinated Notes due 2014 of the Company (the “Securities”);
and

 

WHEREAS,
pursuant to Section 9.01 of the Indenture, the Trustee and the Company are
authorized to amend the Indenture, without the consent of any Securityholder,
to add Guarantees with respect to the Securities or to secure the Securities;

 

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

 

ARTICLE I

 

Definitions

 

SECTION 1.1  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, except that the term “Holders” in the Guarantee
shall refer to the term “Holders” as defined in the Indenture and the
Trustee acting on behalf or for the benefit of such Holders.  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.

 

The following
terms are defined as follows:

 

“Guarantor” shall mean each Subsidiary of the Company that
provides a Subsidiary Guarantee on any date any Securities are issued and any
other Subsidiary of the Company that provides a Subsidiary Guarantee in
accordance with the Indenture; provided that upon the release or discharge of
such Subsidiary from its Subsidiary Guarantee in accordance with the Indenture,
such Subsidiary shall cease to be a Guarantor.

 

“Senior Notes” shall mean the Company’s 8-5/8% Senior Notes
due 2012 and Floating Rate Notes due 2010.

 

 

ARTICLE II

 

Guarantee

 

SECTION 2.1  Agreement to be Bound.  Each Subsidiary Guarantor hereby becomes a
party to the Indenture as a Guarantor and as such will have all of the rights
and be subject to all of the obligations and agreements of a Guarantor under
the Indenture.  Each Subsidiary Guarantor
agrees to be bound by all of the provisions of the Indenture applicable to a
Guarantor and to perform all of the obligations and agreements of a Guarantor
under the Indenture.

 

SECTION 2.2  Subsidiary Guarantee.  Subject to the provisions of this Article II,
each Guarantor hereby fully, unconditionally and irrevocably guarantees, on a
senior subordinated basis, as primary obligor and not merely as surety, jointly
and severally with each other Guarantor, to each Holder of the Securities and
the Trustee, the full and punctual payment when due, whether at maturity, by
acceleration, by redemption or otherwise, of the principal of, premium, if any,
and interest, including Special Interest, if any, on the Securities and all
other obligations and liabilities of the Company under the Indenture (including
without limitation interest accruing after the filing of any petition in
bankruptcy, or the commencement of any insolvency, reorganization or like
proceeding, relating to the Company or any Guarantor whether or not a claim for
post-filing or post-petition interest is allowed in such proceeding and the
obligations under Section 7.07 of the Base Indenture) (all the foregoing
being hereinafter collectively called the “Guarantor Obligations”).  Each Guarantor agrees that the Guarantor
Obligations will rank equally in right of payment with other Indebtedness of
such Guarantor, except to the extent such other Indebtedness is subordinate to
the Guarantor Obligations.  Each
Guarantor further agrees (to the extent permitted by law) that the Guarantor
Obligations may be extended or renewed, in whole or in part, without notice or
further assent from it, and that it will remain bound under this Article II
notwithstanding any extension or renewal of any Guarantor Obligation.

 

Each Guarantor
waives presentation to, demand of payment from and protest to the Company of
any of the Guarantor Obligations and also waives notice of protest for
nonpayment.  Each Guarantor waives notice
of any default under the Securities or the Guarantor Obligations.

 

Each Guarantor
further agrees that its Subsidiary Guarantee herein constitutes a Guarantee of
payment when due (and not a Guarantee of collection) and waives any right to
require that any resort be had by any Holder to any security held for payment
of the Guarantor Obligations.

 

Except as set
forth in Section 2.4, the obligations of each Guarantor hereunder shall
not be subject to any reduction, limitation, impairment or termination for any
reason (other than payment of the Guarantor Obligations in full), including any
claim of waiver, release, surrender, alteration or compromise, and shall not be
subject to any defense of setoff, counterclaim, recoupment or termination
whatsoever or by reason of invalidity, illegality or unenforceability of the Guarantor
Obligations or otherwise.  Without limiting
the generality of the foregoing, the obligations of each Guarantor herein shall
not be discharged or impaired or

 

2

 

otherwise
affected by (a) the failure of any Holder to assert any claim or demand or to
enforce any right or remedy against the Company or any other person under the
Indenture, the Securities or any other agreement or otherwise; (b) any
extension or renewal granted; (c) any rescission, waiver, amendment or
modification of any of the terms or provisions of the Indenture, the Securities
or any other agreement; (d) the release of any security held by any Holder or
the Trustee for the Guarantor Obligations or any of them; (e) the failure of
any holder to exercise any right or remedy against any other Guarantor; (f) any
change in the ownership of the Company; (g) any default, failure or delay, willful
or otherwise, in the performance of the Guarantor Obligations; or (h) any other
act or thing or omission or delay to do any other act or thing which may or
might in any manner or to any extent vary the risk of any Guarantor or would
otherwise operate as a discharge of such Guarantor as a matter of law or
equity.

 

Each Guarantor
agrees that its Subsidiary Guarantee herein shall remain in full force and
effect until payment in full of all the Guarantor Obligations or such Guarantor
is released from its Subsidiary in compliance with Section 2.4
hereof.  Each Guarantor further agrees
that its Subsidiary Guarantee herein shall continue to be effective or be
reinstated, as the case may be, if at any time payment, or any part thereof, of
principal of or interest on any of the Guarantor Obligations is rescinded or
must otherwise be restored by any Holder upon the bankruptcy or reorganization
of the Company or otherwise.

 

In furtherance
of the foregoing and not in limitation of any other right which any Holder has
at law or in equity against any Guarantor by virtue hereof, upon the failure of
the Company to pay any of the Guarantor Obligations when and as the same shall
become due, whether at maturity, by acceleration, by redemption or otherwise,
each Guarantor hereby promises to and will, upon receipt of written demand by
the Trustee, forthwith pay, or cause to be paid, in cash, to the Holders an
amount equal to the sum of (i) the unpaid amount of such Guarantor Obligations
then due and owing and (ii) accrued and unpaid interest on such Guarantor
Obligations then due and owing (but only to the extent not prohibited by law).

 

Each Guarantor
further agrees that, as between such Guarantor, on the one hand, and the
Holders, on the other hand, (x) the maturity of the Guarantor Obligations
guaranteed hereby may be accelerated as provided in the Indenture for the
purposes of its Subsidiary Guarantee herein, notwithstanding any stay,
injunction or other prohibition preventing such acceleration in respect of the
Guarantor Obligations guaranteed hereby and (y) in the event of any such
declaration of acceleration of such Guarantor Obligations, such Guarantor
Obligations (whether or not due and payable) shall forthwith become due and
payable by the Guarantor for the purposes of this Subsidiary Guarantee.

 

Each Guarantor
also agrees to pay any and all costs and expenses (including reasonable
attorneys’ fees and expenses) incurred by the Trustee or the Holders in
enforcing any rights under this Section.

 

SECTION 2.3  Execution and Delivery of Subsidiary
Guarantee for Future Guarantors.  To
further evidence its Subsidiary Guarantee, each Subsidiary Guarantor and other
Person that is required to become a Guarantor under the Indenture agrees to
execute a supplement to the Indenture substantially in the form of Exhibit A
hereto, or a Subsidiary Guarantee, substantially in the form of Exhibit B
hereto, and deliver it to the Trustee. 
Such

 

3

 

Subsidiary
Guarantee or supplement to the Indenture shall be executed on behalf of each
Guarantor by either manual or facsimile signature of one Officer or other
person duly authorized by all necessary corporate action of each Guarantor who
shall have been duly authorized to so execute by all requisite corporate
action.  The validity and enforceability
of any Subsidiary Guarantee shall not be affected by the fact that it is not
affixed to any particular Security.

 

Each of the
Guarantors hereby agrees that its Subsidiary Guarantee shall remain in full force
and effect notwithstanding any failure to endorse on each Security a notation
of such Subsidiary Guarantee.

 

If an Officer
of a Guarantor whose signature is on the Indenture or a Subsidiary Guarantee no
longer holds that office at the time the Trustee authenticates the Security on
which such Subsidiary Guarantee is endorsed or at any time thereafter, such
Guarantor’s Subsidiary Guarantee of such Security shall nevertheless be valid.

 

The delivery
of any Security by the Trustee, after the authentication thereof hereunder,
shall constitute due delivery of any Subsidiary Guarantee set forth in the
Indenture on behalf of each Guarantor.

 

SECTION 2.4  Limitation on Liability; Termination, Release
and Discharge.

 

(a)                                  Any
term or provision of the Indenture to the contrary notwithstanding, the
obligations of each Guarantor hereunder will be limited to the maximum amount
as will, after giving effect to all other contingent and fixed liabilities of
such Guarantor (including, without limitation, any Guarantees under the Credit
Facility) and after giving effect to any collections from or payments made by
or on behalf of any other Guarantor in respect of the obligations of such other
Guarantor under its Subsidiary Guarantee or pursuant to its contribution
obligations under the Indenture, result in the obligations of such Guarantor
under its Subsidiary Guarantee not constituting a fraudulent conveyance or
fraudulent transfer under federal or state law and not otherwise being void or
voidable under any similar laws affecting the rights of creditors generally.

 

(b)                                 In
addition, the Company shall not permit any Guarantor to consolidate with or
merge with or into any person (other than another Guarantor) and shall not
permit the conveyance, transfer or lease of substantially all of the assets of
any Guarantor unless:

 

(1)                                  the
resulting, surviving or transferee Person shall be a corporation, partnership,
trust or limited liability company organized and existing under the laws of the
United States of America, any State of the United States or the District of
Columbia and such Person (if not such Guarantor) shall expressly assume, by
supplemental indenture, executed and delivered to the Trustee, all the
obligations of such Guarantor under its Subsidiary Guarantee;

 

(2)                                  immediately
after giving effect to such transaction (and treating any Indebtedness that
becomes an obligation of the resulting, surviving or transferee Person or any
Subsidiary as a result of such transaction as having been Incurred by such
Person or such Subsidiary at the time of

 

4

 

such transaction), no Default or Event of
Default shall have occurred and be continuing;

 

(3)                                  the
Company shall have delivered to the Trustee an Officers’ Certificate and an
Opinion of Counsel, each stating that such consolidation, merger or transfer
and such supplemental indenture (if any) comply with the Indenture; or

 

(4)                                  the
transaction is made in compliance with Section 5.01 of the Base Indenture
(other than clause (c) of Section 5.01).

 

Upon the sale
or disposition of a Guarantor (by merger, consolidation, the sale of its
Capital Stock or the sale of all or substantially all of its assets (other than
by lease)) and whether or not the Guarantor is the surviving corporation in
such transaction to a Person which is not the Company or a Restricted
Subsidiary, such Guarantor will be automatically released from all its
obligations under the Indenture and its Subsidiary Guarantee and the
Registration Rights Agreement and such Subsidiary Guarantee will terminate;
provided, however, that (1) the sale or other disposition is in compliance with
the Indenture, including Section 5.01 of the Base Indenture (other than
clause (c) thereof); and (2) all the obligations of such Guarantor under the
Credit Facility and related documentation and any other obligations of such
Guarantor relating to any other Indebtedness of the Company or its Restricted
Subsidiaries terminate upon consummation of such transaction.

 

(c)                                  Each
Guarantor shall be deemed released from all its obligations under the Indenture
and the Registration Rights Agreement and such Subsidiary Guarantee shall
terminate upon the legal defeasance of the Securities pursuant to the
provisions of Article VIII of the Base Indenture.

 

(d)                                 Each
Guarantor shall be released from its obligations under the Indenture, its
Subsidiary Guarantee and the Registration Rights Agreement if the Company
designates such Guarantor as an Unrestricted Subsidiary and such designation
complies with the other applicable provisions of the Indenture.

 

SECTION 2.5  Right of Contribution.  Each Guarantor hereby agrees that to the
extent that any Guarantor shall have paid more than its proportionate share of
any payment made on the obligations under the Subsidiary Guarantees, such Guarantor
shall be entitled to seek and receive contribution from and against the
Company, or any other Guarantor who has not paid its proportionate share of
such payment.  The provisions of this Section 2.5
shall in no respect limit the obligations and liabilities of each Guarantor to
the Trustee and the Holders and each Guarantor shall remain liable to the
Trustee and the Holders for the full amount guaranteed by such Guarantor
hereunder.

 

SECTION 2.6  No Subrogation.  Notwithstanding any payment or payments made
by each Guarantor hereunder, no Guarantor shall be entitled to be subrogated to
any of the rights of the Trustee or any Holder against the Company or any other
Guarantor or any collateral security or guarantee or right of offset held by
the Trustee or any Holder for the payment of the Guarantor Obligations, nor
shall any Guarantor seek or be entitled to seek any contribution or

 

5

 

reimbursement
from the Company or any other Guarantor in respect of payments made by such
Guarantor hereunder, until all amounts owing to the Trustee and the Holders by
the Company on account of the Guarantor Obligations are paid in full.  If any amount shall be paid to any Guarantor
on account of such subrogation rights at any time when all of the Guarantor
Obligations shall not have been paid in full, such amount shall be held by such
Guarantor in trust for the Trustee and the Holders, segregated from other funds
of such Guarantor, and shall, forthwith upon receipt by such Guarantor, be
turned over to the Trustee in the exact form received by such Guarantor (duly
indorsed by such Guarantor to the Trustee, if required), to be applied against
the Guarantor Obligations.

 

ARTICLE III

 

Future Guarantors

 

SECTION 3.1  Future Guarantors. The
Company will cause each Subsidiary which guarantees obligations under the
Credit Facility, the Senior Notes or other Indebtedness of the Company or the
Guarantors to execute and deliver to the Trustee a supplemental indenture
pursuant to which such Guarantor will unconditionally Guarantee, on a joint and
several basis, the full and prompt payment of the principal of, premium, if
any, interest and Special Interest, if any, on the Securities on a senior
subordinated basis and all other obligations under the Indenture. Each
Subsidiary Guarantee will be limited to an amount not to exceed the maximum
amount that can be guaranteed by that Subsidiary without rendering the
Subsidiary Guarantee, as it relates to such Subsidiary, voidable under
applicable law relating to fraudulent conveyance or fraudulent transfer or
similar laws affecting the rights of creditors generally. Notwithstanding the
foregoing, if a Guarantor is released and discharged in full from its obligations
under its Guarantees of (1) the Credit Facility and related documentation and
(2) all other Indebtedness of the Company and its Subsidiaries, then the
Subsidiary Guarantee of such Guarantor shall be automatically and
unconditionally released and discharged.

 

ARTICLE IV

 

Miscellaneous

 

SECTION 4.1  Notices.  All notices and other communications to the
Subsidiary Guarantors shall be given to each Subsidiary Guarantor, at its
address set forth in Appendix I, with a copy to the Company as provided in the
Indenture for notices to the Company.

 

SECTION 4.2  Parties.  Nothing expressed or mentioned herein is
intended or shall be construed to give any Person, firm or corporation, other
than the Holders and the Trustee, any legal or equitable right, remedy or claim
under or in respect of this Supplemental Indenture or the Indenture or any
provision herein or therein contained.

 

SECTION 4.3  Governing
Law.  This Supplemental Indenture
shall be governed by, and construed in accordance with, the laws of the State
of New York.

 

SECTION 2.7  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

 

6

 

effect.  This Supplemental Indenture shall form a part
of the Indenture for all purposes, and every Holder of Securities heretofore or
hereafter authenticated and delivered shall be bound hereby.

 

SECTION 2.8  Trustee not
Responsible.  The Trustee shall not
be responsible in any manner whatsoever for or in respect of the validity or
sufficiency of this Second Supplemental Indenture or for or in respect of the
recitals contained herein, all of which is made solely by the Company.

 

SECTION 2.9  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.

 

SECTION 2.10  Headings.  The headings of the Articles and the Sections
in this Guarantee are for convenience of reference only and shall not be deemed
to alter or affect the meaning or interpretation of any provisions hereof.

 

7

 

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

 

	
   

  	
  AMERICAN MULTI-CINEMA, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Craig R. Ramsey

  	
   

  
	
   

  	
  Name:

  	
   Craig R. Ramsey

  
	
   

  	
  Title:

  	
   Executive Vice President and

  Chief Financial Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
					

 

	
   

  	
  AMC REALTY, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Craig R. Ramsey

  	
   

  
	
   

  	
  Name:

  	
   Craig R. Ramsey

  
	
   

  	
  Title:

  	
   Executive Vice President and

  Chief Financial Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
					

 

	
   

  	
  AMC ENTERTAINMENT INTERNATIONAL, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Craig R. Ramsey

  	
   

  
	
   

  	
  Name:

  	
   Craig R. Ramsey

  
	
   

  	
  Title:

  	
   Executive Vice President and

  Chief Financial Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
					

 

	
   

  	
  NATIONAL CINEMA NETWORK, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Craig R. Ramsey

  	
   

  
	
   

  	
  Name:

  	
   Craig R. Ramsey

  
	
   

  	
  Title:

  	
   Executive Vice President and

  Chief Financial Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
					

 

	
   

  	
  AMC-GCT, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Craig R. Ramsey

  	
   

  
	
   

  	
  Name:

  	
  Craig R. Ramsey

  
	
   

  	
  Title:

  	
  Executive Vice President and

  Chief Financial Officer

  
					

 

8

 

	
   

  	
  AMERICAN MULTI-CINEMA OF FLORIDA, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Craig R. Ramsey

  	
   

  
	
   

  	
  Name:

  	
   Craig R. Ramsey

  
	
   

  	
  Title:

  	
   Executive Vice President and

  Chief Financial Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
					

 

	
   

  	
  CENTERTAINMENT, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Craig R. Ramsey

  	
   

  
	
   

  	
  Name:

  	
   Craig R. Ramsey

  
	
   

  	
  Title:

  	
   Executive Vice President and

  Chief Financial Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
					

 

	
   

  	
  PREMIUM THEATER OF MAYFAIR, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Craig R. Ramsey

  	
   

  
	
   

  	
  Name:

  	
   Craig R. Ramsey

  
	
   

  	
  Title:

  	
   Executive Vice President and

  Chief Financial Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
					

 

	
   

  	
  PREMIUM CINEMA OF YORKTOWN, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Craig R. Ramsey

  	
   

  
	
   

  	
  Name:

  	
   Craig R. Ramsey

  
	
   

  	
  Title:

  	
   Executive Vice President and

  Chief Financial Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
					

 

	
   

  	
  PREMIUM THEATER OF FRAMINGHAM, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Craig R. Ramsey

  	
   

  
	
   

  	
  Name:

  	
   Craig R. Ramsey

  
	
   

  	
  Title:

  	
   Executive Vice President and

  Chief Financial Officer

  
					

 

9

 

	
   

  	
  CLUB CINEMA OF MAZZA, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Craig R. Ramsey

  	
   

  
	
   

  	
  Name:

  	
   Craig R. Ramsey

  
	
   

  	
  Title:

  	
   Executive Vice President and

  Chief Financial Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
					

 

	
   

  	
  GCT PACIFIC BEVERAGE SERVICES, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Craig R. Ramsey

  	
   

  
	
   

  	
  Name:

  	
   Craig R. Ramsey

  
	
   

  	
  Title:

  	
   Executive Vice President and

  Chief Financial Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
					

 

	
   

  	
  AMC CARD PROCESSING SERVICES, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Craig R. Ramsey

  	
   

  
	
   

  	
  Name:

  	
   Craig R. Ramsey

  
	
   

  	
  Title:

  	
   Executive Vice President and

  Chief Financial Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
					

 

	
   

  	
  HSBC BANK
  USA, NATIONAL ASSOCIATION

  as Trustee

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Herawatter Alli

  	
   

  
	
   

  	
  Name:

  	
   Herawatter Alli

  
	
   

  	
  Title:

  	
  Assistant Vice President

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
					

 

	
   

  	
  AMC ENTERTAINMENT INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Craig R. Ramsey

  	
   

  
	
   

  	
  Name:

  	
   Craig R. Ramsey

  
	
   

  	
  Title:

  	
   Executive Vice President and

  Chief Financial Officer

  
					

 

10

 

SUBSIDIARY GUARANTEE

 

Each of the
undersigned (the “Guarantors”) hereby jointly and severally unconditionally
guarantees, to the extent set forth in the Indenture dated as of February 24,
2004, by and between AMC Entertainment Inc., a Delaware corporation, as issuer
(the “Company”) and HSBC Bank USA, National Association,  as Trustee (as amended, restated or
supplemented from time to time, the “Indenture”), and subject to the
provisions of the Indenture, (a) the due and punctual payment of the
principal of, and premium, if any, and interest on the Securities, when and as
the same shall become due and payable, whether at maturity, by acceleration or
otherwise, the due and punctual payment of interest on overdue principal of,
and premium and, to the extent permitted by law, interest, and the due and punctual
performance of all other obligations of the Company to the Holders or the
Trustee, all in accordance with the terms set forth in the Indenture, and
(b) in case of any extension of time of payment or renewal of any
Securities or any of such other obligations, that the same will be promptly
paid in full when due or performed in accordance with the terms of the
extension or renewal, whether at stated maturity, by acceleration or otherwise.

 

[Signatures on Following Pages]

 

11

 

IN WITNESS
WHEREOF, each of the Guarantors has caused this Subsidiary Guarantee to be
signed by a duly authorized officer.

 

	
   

  	
  AMERICAN MULTI-CINEMA, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Craig R. Ramsey

  	
   

  
	
   

  	
  Name:

  	
   Craig R. Ramsey

  
	
   

  	
  Title:

  	
   Executive Vice President and

  Chief Financial Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
					

 

	
   

  	
  AMC REALTY, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Craig R. Ramsey

  	
   

  
	
   

  	
  Name:

  	
   Craig R. Ramsey

  
	
   

  	
  Title:

  	
   Executive Vice President and

  Chief Financial Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
					

 

	
   

  	
  AMC ENTERTAINMENT INTERNATIONAL, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Craig R. Ramsey

  	
   

  
	
   

  	
  Name:

  	
   Craig R. Ramsey

  
	
   

  	
  Title:

  	
   Executive Vice President and

  Chief Financial Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
					

 

	
   

  	
  NATIONAL CINEMA NETWORK, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Craig R. Ramsey

  	
   

  
	
   

  	
  Name:

  	
   Craig R. Ramsey

  
	
   

  	
  Title:

  	
   Executive Vice President and

  Chief Financial Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
					

 

	
   

  	
  AMC-GCT, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Craig R. Ramsey

  	
   

  
	
   

  	
  Name:

  	
   Craig R. Ramsey

  
	
   

  	
  Title:

  	
   Executive Vice President and

  Chief Financial Officer

  
					

 

12

 

	
   

  	
  AMERICAN MULTI-CINEMA OF FLORIDA, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Craig R. Ramsey

  	
   

  
	
   

  	
  Name:

  	
   Craig R. Ramsey

  
	
   

  	
  Title:

  	
   Executive Vice President and

  Chief Financial Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
					

 

	
   

  	
  CENTERTAINMENT, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Craig R. Ramsey

  	
   

  
	
   

  	
  Name:

  	
   Craig R. Ramsey

  
	
   

  	
  Title:

  	
   Executive Vice President and

  Chief Financial Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
					

 

	
   

  	
  PREMIUM THEATER OF MAYFAIR, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Craig R. Ramsey

  	
   

  
	
   

  	
  Name:

  	
   Craig R. Ramsey

  
	
   

  	
  Title:

  	
   Executive Vice President and

  Chief Financial Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
					

 

	
   

  	
  PREMIUM CINEMA OF YORKTOWN, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Craig R. Ramsey

  	
   

  
	
   

  	
  Name:

  	
   Craig R. Ramsey

  
	
   

  	
  Title:

  	
   Executive Vice President and

  Chief Financial Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
					

 

	
   

  	
  PREMIUM THEATER OF FRAMINGHAM, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Craig R. Ramsey

  	
   

  
	
   

  	
  Name:

  	
   Craig R. Ramsey

  
	
   

  	
  Title:

  	
   Executive Vice President and

  Chief Financial Officer

  
					

 

13

 

	
   

  	
  CLUB CINEMA OF MAZZA, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Craig R. Ramsey

  	
   

  
	
   

  	
  Name:

  	
   Craig R. Ramsey

  
	
   

  	
  Title:

  	
   Executive Vice President and

  Chief Financial Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
					

 

	
   

  	
  GCT PACIFIC BEVERAGE SERVICES, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Craig R. Ramsey

  	
   

  
	
   

  	
  Name:

  	
   Craig R. Ramsey

  
	
   

  	
  Title:

  	
   Executive Vice President and

  Chief Financial Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
					

 

	
   

  	
  AMC CARD PROCESSING SERVICES, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Craig R. Ramsey

  	
   

  
	
   

  	
  Name:

  	
   Craig R. Ramsey

  
	
   

  	
  Title:

  	
   Executive Vice President and

  Chief Financial Officer

  
					

 

14

 

EXHIBIT A

 

FORM OF
SUPPLEMENTAL INDENTURE TO ADD GUARANTORS

 

This
Supplemental Indenture, dated as of [                
    ], 20       (this “Supplemental
Indenture” or “Guarantee”), among [name of future Guarantor] (the “Subsidiary Guarantor”),
AMC Entertainment Inc. (together with its successors and assigns, the “Company”),
each other then existing Guarantor under the Indenture referred to below, and
HSBC Bank USA, National Association, as Trustee under the Indenture referred to
below.

 

W I T N E S S E T H:

 

WHEREAS, the
Company and the Trustee have heretofore executed and delivered an Indenture,
dated as of February 24, 2004 (the “Base Indenture”), as
supplemented by this First Supplemental Indenture among the Company, the
Guarantors named therein and the Trustee (the “First Supplemental Indenture”
and, together with the Base Indenture, the “Indenture”) providing for
the issuance of 8% Senior Subordinated Notes due 2014 of the Company (the “Securities”);
and

 

WHEREAS,
pursuant to Section 9.01 of the Indenture, the Trustee and the Company are
authorized to amend the Indenture, without the consent of any Securityholder,
to add Guarantees with respect to the Securities or to secure the Securities;

 

NOW,
THEREFORE, in consideration of the foregoing and for other good and valuable
consideration, the receipt of which is hereby acknowledged, the Subsidiary
Guarantor, the Company, the other Guarantors and the Trustee mutually covenant
and agree for the equal and ratable benefit of the Holders of the Securities as
follows:

 

ARTICLE I

 

Definitions

 

SECTION 1.1  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, except that the term “Holders” in the Guarantee
shall refer to the term “Holders” as defined in the Indenture and the
Trustee acting on behalf or for the benefit of such Holders.  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.

 

ARTICLE II

 

Agreement to be Bound; Guarantee

 

SECTION 2.1  Agreement to be Bound.  The Subsidiary Guarantor hereby becomes a
party to the Indenture as a Guarantor and as such will have all of the rights
and be

 

A-1

 

subject to all
of the obligations and agreements of a Guarantor under the Indenture.  The Subsidiary Guarantor agrees to be bound
by all of the provisions of the Indenture applicable to a Guarantor and to
perform all of the obligations and agreements of a Guarantor under the
Indenture.

 

SECTION 2.2  Guarantee.  The Subsidiary Guarantor agrees, on a joint
and several basis with all the existing Guarantors, to fully, unconditionally
and irrevocably Guarantee to each Holder of the Securities and the Trustee the
Guarantor Obligations pursuant to the First Supplemental Indenture on a senior
subordinated basis.

 

ARTICLE III

 

Miscellaneous

 

SECTION 3.1  Notices.  All notices and other communications to the
Subsidiary Guarantor shall be given as provided in the Indenture to the
Subsidiary Guarantor, at its address set forth below, with a copy to the
Company as provided in the Indenture for notices to the Company.

 

SECTION 3.2  Parties.  Nothing expressed or mentioned herein is
intended or shall be construed to give any Person, firm or corporation, other
than the Holders and the Trustee, any legal or equitable right, remedy or claim
under or in respect of this Supplemental Indenture or the Indenture or any
provision herein or therein contained.

 

SECTION 3.3  Governing Law.  This Supplemental Indenture shall be governed
by, and construed in accordance with, the laws of the State of New York.

 

SECTION 3.4  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 shall form a part of the Indenture for all purposes, and every Holder
of Securities heretofore or hereafter authenticated and delivered shall be
bound hereby.

 

SECTION 3.5  Trustee not Responsible.  The Trustee shall not be responsible in any
manner whatsoever for or in respect of the validity or sufficiency of this [            ]
Supplemental Indenture or for or in respect of the recitals contained herein,
all of which are made solely by the Company and the Guarantors.

 

SECTION 3.6  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.

 

SECTION 3.7  Headings.  The headings of the Articles and the Sections
in this Guarantee are for convenience of reference only and shall not be deemed
to alter or affect the meaning or interpretation of any provisions hereof.

 

A-2

 

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

 

	
   

  	
  [GUARANTOR],

  
	
   

  	
  as a Guarantor

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
  [Address]

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  HSBC BANK
  USA, NATIONAL ASSOCIATION

  as Trustee

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  AMC ENTERTAINMENT INC.

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

A-3

 

EXHIBIT B

 

SUBSIDIARY GUARANTEE

 

Each of the
undersigned (the “Guarantors”) hereby jointly and severally unconditionally
guarantees, to the extent set forth in the Indenture dated as of February 24,
2004 by and between AMC Entertainment Inc., a Delaware corporation, as issuer
(the “Company”) and HSBC Bank USA, National Association as Trustee (as
amended, restated or supplemented from time to time, the “Indenture”), as
supplemented by the First Supplemental Indenture, dated December 23, 2004 and
subject to the provisions of the Indenture, (a) the due and punctual
payment of the principal of, and premium, if any, and interest on the
Securities, when and as the same shall become due and payable, whether at
maturity, by acceleration or otherwise, the due and punctual payment of interest
on overdue principal of, and premium and, to the extent permitted by law,
interest, and the due and punctual performance of all other obligations of the
Company to the Holders or the Trustee, all in accordance with the terms set
forth in Article Ten of the Indenture, and (b) in case of any
extension of time of payment or renewal of any Securities or any of such other
obligations, that the same will be promptly paid in full when due or performed
in accordance with the terms of the extension or renewal, whether at stated
maturity, by acceleration or otherwise.

 

The
obligations of the Guarantors to the Holders and to the Trustee pursuant to
this Subsidiary Guarantee and the Indenture are expressly set forth in the
First Supplemental Indenture, and reference is hereby made to the Indenture for
the precise terms and limitations of this Subsidiary Guarantee.  Each Holder of the Security to which this
Subsidiary Guarantee is endorsed, by accepting such Security, agrees to and shall
be bound by such provisions.

 

[Signatures on Following Pages]

 

B-1

 

IN WITNESS
WHEREOF, each of the Guarantors has caused this Subsidiary Guarantee to be
signed by a duly authorized officer.

 

	
   

  	
  [                                             ]

  
	
   

  
	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  

 

B-2

 

APPENDIX I

 

	
  Subsidiary

  	
   

  	
  Principal Address of Business

  
	
  Amer. Multi-Cinema, Inc.

  	
   

  	
  920 Main Street, Kansas City, MO

  
	
  AMC Realty, Inc.

  	
   

  	
  920 Main Street, Kansas City, MO

  
	
  AMC Entertainment International, Inc.

  	
   

  	
  920 Main Street, Kansas City, MO

  
	
  National Cinema Network, Inc.

  	
   

  	
  920 Main Street, Kansas City, MO

  
	
  AMC-GCT, Inc.

  	
   

  	
  920 Main Street, Kansas City, MO

  
	
  Amer. Multi-Cinema of Florida, Inc.

  	
   

  	
  920 Main Street, Kansas City, MO

  
	
  Centertainment Inc.

  	
   

  	
  920 Main Street, Kansas City, MO

  
	
  Premium Theater of Mayfair, Inc.

  	
   

  	
  920 Main Street, Kansas City MO

  
	
  Premium Cinema of Yorktown, Inc.

  	
   

  	
  208 S LaSalle St, Suite 814,

  Chicago IL 60604, Cook County

  
	
  Club Cinema of Mazza, Inc.

  	
   

  	
  1025 Vermont Ave., NW,

  Washington, DC 20005

  
	
  Premium Theatre of Framingham, Inc.

  	
   

  	
  101 Federal Street, Boston, MA 02110

  
	
  GCT Pacific Beverage Services, Inc.

  	
   

  	
  520 Pike Street, Seattle WA 98101

  
	
  AMC Card Processing Services, Inc.

  	
   

  	
  920 Main Street, Kansas City, MO

  

 

1

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