Document:

Exhibit

AMENDMENT NO. 4 TO CREDIT AGREEMENT
THIS AMENDMENT NO. 4 TO CREDIT AGREEMENT (this “Amendment”), entered into as of July 29, 2015, is by and between Koss Corporation, a Delaware corporation (“Borrower”), and JPMorgan Chase Bank, N.A. (“Lender”) under the Credit Agreement defined below.
W I T N E S S E T H:
WHEREAS, Borrower and Lender entered into that certain Credit Agreement dated as of May 12, 2010 (as amended to date, the “Credit Agreement”), pursuant to which Lender agreed to extend credit to Borrower upon the terms and subject to the conditions set forth therein; and
WHEREAS, Borrower has requested that Lender enter into this Amendment for the purpose of making certain modifications and amendments to the Credit Agreement as described herein, and Lender is willing to agree to such modifications, all on the terms and subject to the conditions set forth herein.
NOW, THEREFORE, in consideration of the terms and conditions contained herein, the parties hereto hereby agree as follows:
1.Definitions.  All capitalized terms used and not otherwise defined herein shall have the meanings given to such terms by the Credit Agreement as amended hereby.
2.    Amendments.  Upon satisfaction of the conditions set forth in Section 3 below, the Credit Agreement shall be amended as follows:
		
	a.
	All references to the Credit Agreement in the Credit Agreement or any of the Loan Documents shall refer to the Credit Agreement as amended hereby.  

		
	b.
	Section 1.01 (Defined Terms) shall be amended as follows:

i.    The definition of “Adjusted One Month LIBO Rate” set forth therein shall be amended to read as follows:
“Adjusted One Month LIBO Rate” means, for any day, an interest rate per annum equal to the sum of (i) 2.50% plus (ii) the Adjusted LIBO Rate for a one-month interest period on such day (or if such day is not a Business Day, the immediately preceding Business Day); provided that, for the avoidance of doubt, the Adjusted LIBO Rate for any day shall be based on the LIBO Screen Rate at approximately 11:00 a.m. London time on such day; provided further, that, if the LIBO Screen Rate at such time shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement.

ii.    The definition of “Change in Law” set forth therein shall be amended to read as follows:
“Change in Law” means the occurrence after the date of this Agreement of any of the following: (a) the adoption of or taking effect of any law, rule, regulation or treaty; (b) any change in any law, rule, regulation or treaty or in the administration, interpretation or application thereof by any Governmental Authority; or (c) compliance by the Lender (or, for purposes of Section 2.14(b), by any lending office of the Lender or by the Lender’s holding company, if any) with any request, guideline, requirement or directive (whether or not having the force of law) of any Governmental Authority made or issued after the date of this Agreement; provided that notwithstanding anything herein to the contrary, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines, requirements or directives thereunder or issued in connection therewith or in the implementation thereof, and (y) all requests, rules, guidelines, requirements or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a “Change in Law”, regardless of the date enacted, adopted, issued or implemented.
iii.    Clause (k) of the definition of “Eligible Accounts” is amended to read as follows:
(k)    which is owed by an Account Debtor which (i) does not maintain its chief executive office in the U.S. or Canada, (ii) is not organized under applicable law of the U.S., any state of the U.S., Canada, or any province of Canada unless, in either case, such Account is backed by a Letter of Credit acceptable to Lender which is in the possession of, and has been assigned to, Lender, or (iii) is a Sanctioned Person.
iv.    The definition of “Eligible Inventory” shall be amended to add a new clause (p) to read as follows:
(p)    which has been acquired from a Sanctioned Person.
v.    The definition of “Federal Funds Effective Rate” set forth therein shall be amended to read as follows:
“Federal Funds Effective Rate” means, for any day, the weighted average (rounded upwards, if necessary, to the next 1/100 of 1%) of the rates on overnight Federal funds transactions with members of the 

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Federal Reserve System arranged by Federal funds brokers, as published on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if such rate is not so published for any day that is a Business Day, the average (rounded upwards, if necessary, to the next 1/100 of 1%) of the quotations for such day for such transactions received by the Lender from three Federal funds brokers of recognized standing selected by it; provided, that, if the Federal Funds Effective Rate shall be less than zero, such rate shall be deemed to be zero for  purposes of this Agreement.  
vi.    The definition of “LIBO Rate” set forth therein shall be amended to read as follows:
“LIBO Rate” means, with respect to any Eurodollar Borrowing for any applicable Interest Period or for any CB Floating Rate Loan, the London interbank offered rate as administered by ICE Benchmark Administration (or any other Person that takes over the administration of such rate for Dollars) for a period equal in length to such Interest Period as displayed on pages LIBOR01 or LIBOR02 of the Reuters screen that displays such rate (or, in the event such rate does not appear on a Reuters page or screen, on any successor or substitute page on such screen that displays such rate, or on the appropriate page of such other information service that publishes such rate from time to time as shall be selected by the Lender in its reasonable discretion; in each case, the “LIBO Screen Rate”) at approximately 11:00 a.m., London time, two (2) Business Days prior to the commencement of such Interest Period; provided that, (x) if any LIBO Screen Rate shall be less than zero, such rate shall be deemed to be zero for the purposes of this Agreement and (y) if the LIBO Screen Rate shall not be available at such time for a period equal in length to such Interest Period (an “Impacted Interest Period”), then the LIBO Rate shall be the Interpolated Rate at such time, subject to Section 2.13 in the event that the Lender shall conclude that it shall not be possible to determine such Interpolated Rate (which conclusion shall be conclusive and binding absent manifest error); provided further, that, if any Interpolated Rate shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement.  Notwithstanding the above, to the extent that “LIBO Rate” or “Adjusted LIBO Rate” is used in connection with a CB Floating Rate Loan, such rate shall be determined as modified by the definition of Adjusted One Month LIBO Rate.
vii.    The definition of “Maturity Date” set forth therein shall be amended to read as follows:

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“Maturity Date” means July 31, 2016, or any earlier date on which the Revolving Commitment is reduced to zero or otherwise terminated pursuant to the terms hereof.
viii.    The following new definitions shall be added to Section 1.01 in appropriate alphabetical order as follows:
“Anti-Corruption Laws” means all laws, rules, and regulations of any jurisdiction applicable to the Borrower or any of its Affiliates from time to time concerning or relating to bribery or corruption.
 “Fourth Amendment Effective Date” means the date on which the conditions to effectiveness of the Amendment No. 4 to Credit Agreement dated as of July 29, 2015 are satisfied.
“Impacted Interest Period” shall have the meaning set forth in the definition of LIBO Rate.
“Interpolated Rate” means, at any time, for any Interest Period, the rate per annum (rounded to the same number of decimal places as the LIBO Screen Rate) determined by the Lender (which determination shall be conclusive and binding absent manifest error) to be equal to the rate that results from interpolating on a linear basis between: (a) the LIBO Screen Rate for the longest period (for which the LIBO Screen Rate is available) that is shorter than the Impacted Interest Period and (b) the LIBO Screen Rate for the shortest period (for which the LIBO Screen Rate is available) that exceeds the Impacted Interest Period, in each case, at such time.
“LIBO Screen Rate” shall have the meaning set forth in the definition of LIBO Rate.
 “Sanctioned Country” means, at any time, a country or territory which is itself the subject or target of any Sanctions (at the time of this Agreement, Cuba, Iran, North Korea, Sudan and Syria).
“Sanctioned Person” means, at any time, (a) any Person listed in any Sanctions-related list of designated Persons maintained by the Office of Foreign Assets Control of the U.S. Department of the Treasury, the U.S. Department of State or by the United Nations Security Council, the European Union or any European Union member state, (b) any Person operating, organized or resident in a Sanctioned Country or (c) any Person owned or controlled by any such Person or Persons described in the foregoing clauses (a) or (b).

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“Sanctions” means economic or financial sanctions or trade embargoes imposed, administered or enforced from time to time by (a) the U.S. government, including those administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State, or (b) the United Nations Security Council, the European Union, any European Union member state or Her Majesty’s Treasury of the United Kingdom.
		
	c.
	A new Section 3.17 shall be added to read in its entirety as follows:

SECTION 3.21.  Anti-Corruption Laws and Sanctions.  Borrower has implemented and maintains in effect policies and procedures designed to ensure compliance by Borrower, its Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption Laws and applicable Sanctions, and Borrower, its Subsidiaries and their respective officers and employees and, to the knowledge of Borrower, its directors and agents, are in compliance with Anti-Corruption Laws and applicable Sanctions in all material respects.  None of (a) Borrower, any Subsidiary or, to the knowledge of Borrower or Subsidiary, any of their respective directors, officers or employees, or (b) to the knowledge of Borrower or any Subsidiary, any agent of Borrower or any Subsidiary that will act in any capacity in connection with or benefit from the credit facility established hereby, is a Sanctioned Person.   No Borrowing or Letter of Credit, use of proceeds, or other transaction contemplated by this Agreement or the other Loan Documents will violate Anti-Corruption Laws or applicable Sanctions.
		
	d.
	Section 5.07 (Compliance with Laws) shall be amended to add the following sentence to the end of such section:

Borrower will maintain in effect and enforce policies and procedures designed to ensure compliance by Borrower, its Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption Laws and applicable Sanctions.
		
	e.
	Section 5.08 (Use of Proceeds and Letter of Credit) will be amended to add the following s to the end of such section:

Borrower will not request any Borrowing or Letter of Credit, and Borrower shall not use, and Borrower shall procure that its Subsidiaries and its and their respective directors, officers, employees and agents shall not use, the proceeds of any Borrowing or Letter of Credit (a) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws, (b) for 

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the purpose of funding, financing or facilitating any activities, business or transaction of or with any Sanctioned Person, or in any Sanctioned Country, or (c) in any manner that would result in the violation of any Sanctions applicable to any party hereto. 
		
	f.
	Section 6.12(a) shall be amended in its entirety to read as follows:

(a)    Minimum EBITDA.  Borrower will not permit its EBITDA, determined as of the last day of each fiscal quarter of the Borrower for the twelve month period then ending, commencing with the fiscal quarter of the Borrower ending September 30, 2015, to be less than $1,600,000.
3.    Conditions:  Notwithstanding the foregoing, this Amendment shall not become effective unless and until Lender receives:
a.    a fully-executed copy of this Amendment; 
b.    a certificate of an officer of Borrower, certifying as to incumbency, organizational documents and authorization of this amendment; and
c.    such other certificates or documents as Lender or its counsel may reasonably request.
4.    Representations and Warranties.  Borrower repeats and reaffirms the representations and warranties set forth in Article III of the Credit Agreement as though made on and as of the date hereof, except for representations or warranties that are made as of a particular date.  Borrower also represents and warrants that the execution, delivery and performance of this Amendment, and the documents required herein, are within the corporate powers of Borrower, have been duly authorized by all necessary corporate action and do not and will not (i) require any consent or approval of the shareholders of Borrower; (ii) violate any provision of the articles of incorporation or by-laws of Borrower or of any law, rule, regulation, order, writ, judgment, injunction, decree, determination or award presently in effect having applicability to Borrower or any subsidiary of Borrower; (iii) require the consent or approval of, or filing a registration with, any governmental body, agency or authority, other than routine filings with the U.S. Securities and Exchange Commission; or (iv) result in any breach of or constitute a default under, or result in the imposition of any lien, charge or encumbrance upon any property of Borrower or any subsidiary of Borrower pursuant to, any indenture or other agreement or instrument under which Borrower or any subsidiary of Borrower is a party or by which it or its properties may be bound or affected.  This Amendment constitutes the legal, valid and binding obligation of Borrower enforceable in accordance with its terms, except as such enforceability may be limited by bankruptcy or similar laws affecting the enforceability of creditors’ rights generally.
5.    Obligations Enforceable, Etc.  Borrower acknowledges and agrees that its obligations under the Credit Agreement are not subject to any offset, defense or counterclaim assertable by Borrower and that the Credit Agreement and the Loan Documents are valid, binding 

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and fully enforceable according to their respective terms.  Except as expressly provided above, the Credit Agreement and the Loan Documents shall remain in full force and effect, and this Amendment shall not release, discharge or satisfy any present or future debts, obligations or liabilities to Lender of Borrower or of any debtor, guarantor or other person or entity liable for payment or performance of any of such debts, obligations or liabilities of Borrower, or any security interest, lien or other collateral or security for any of such debts, obligations or liabilities of Borrower or such debtors, guarantors, or other persons or entities, or waive any default, and Lender expressly reserves all of its rights and remedies with respect to Borrower and all such debtors, guarantors or other persons or entities, and all such security interests, liens and other collateral and security.  This is an amendment and not a novation.  Without limiting the generality of the foregoing, all present and future debts, obligations and liabilities of Borrower under the Credit Agreement, as amended, are and shall continue to be secured by the Security Agreement and any other Collateral Documents.  
6.    Fees and Expenses.  As contemplated by Section 8.03(a) of the Credit Agreement, Borrower shall be responsible for the payment of all fees and out-of-pocket disbursements incurred by Lender in connection with the preparation, execution and delivery of this Amendment.  Borrower further acknowledges and agrees that, pursuant to and on the terms set forth in such Section 8.03(a), Borrower is and shall be responsible for the payment of other fees, expenses, costs and charges arising under or relating to the Credit Agreement, as amended hereby, and the Loan Documents, as set forth in such Section 8.03(a).
7.    Entire Agreement.  This Amendment and the other documents referred to herein contain the entire agreement between Lender and Borrower with respect to the subject matter hereof, superseding all previous communications and negotiations, and no representation, undertaking, promise or condition concerning the subject matter hereof shall be binding upon Lender unless clearly expressed in this Agreement or in the other documents referred to herein.
8.    Miscellaneous.  The provisions of this Amendment shall inure to the benefit of any holder of any Obligations, and shall inure to the benefit of and be binding upon any successor to any of the parties hereto.  All agreements, representations and warranties made herein shall survive the execution of this Amendment and the making of the loans under the Credit Agreement, as so amended.  This Amendment shall be governed by and construed in accordance with the internal laws of the State of Wisconsin.  This Amendment may be signed in any number of counterparts with the same effect as if the signatures thereto and hereto were upon the same instrument.  This Amendment is solely for the benefit of the parties hereto and their permitted successors and assigns.  No other person or entity shall have any rights under, or because of the existence of, this Amendment.

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IN WITNESS WHEREOF, this Amendment has been duly executed as of the day and year first above written.

KOSS CORPORATION

By: /s/ David Smith______________________
Name:  David Smith
Title:    Executive Vice President and Chief                Financial Officer

JPMORGAN CHASE BANK, N.A.

By: /s/ Glenn M. Margraff    
Name:  Glenn M. Margraff
Title:    Authorized Signatory

[Signature Page to Amendment No. 4 to Credit Agreement]Exhibit

Exhibit 10.1

INCREMENTAL ACTIVATION NOTICE
August 24, 2015
To:    Bank of America, N.A.,
as Administrative Agent under the Credit Agreement referred to below

Reference is hereby made to the Amended and Restated Credit Agreement, dated as of March 18, 1999 and amended and restated on April 11, 2012 (as amended  by Amendment No. 1, dated as of March 22, 2013, Amendment No. 2, dated as of April 22, 2013, the Term F Incremental Activation Notice (as defined in Exhibit A), Amendment No. 3, dated as of  June 27, 2013, the Term E Incremental Activation Notice (as defined in Exhibit A), Amendment No. 4, dated as of September 12, 2014, the Term G Incremental Activation Notice (as defined in Exhibit A) and as the same may be further amended, restated, modified and supplemented from time to time, the “Credit Agreement”) by and among CHARTER COMMUNICATIONS OPERATING, LLC, a Delaware limited liability company (“Borrower”), CCO HOLDINGS, LLC, a Delaware limited liability company (“Holdings”), the LENDERS party thereto and BANK OF AMERICA, N.A., as administrative agent (the “Administrative Agent”).  
This notice is an Incremental Activation Notice referred to in Section 2.1(f) of the Credit Agreement.  Effective as of the Incremental Facilities Effective Date, the Borrower, the Administrative Agent and each of the Lenders signatory hereto each hereby agree as follows:

ARTICLE ONE

DEFINED TERMS

Terms defined in the Credit Agreement are used herein as defined therein.  In addition, the following terms have the meanings specified below:

“Incremental Facilities Effective Date”:  the date on which the conditions specified in Article Four are satisfied.
“Repricing Transaction”: (a) except in connection with a transaction constituting a Change of Control, the incurrence by the Borrower of any term loans (including, without limitation, any new or additional term loans under the Credit Agreement) having an Effective Yield that is less than the Effective Yield for the Term H Loans or the Term I Loans, as applicable, the proceeds of which are used to prepay (or, in the case of a conversion, deemed to prepay or replace), in whole or in part, outstanding principal of Term H Loans or Term I Loans, respectively, or (b) any effective reduction in the Effective Yield for the Term H Loans or Term I Loans, as applicable, by way of amendment of the Credit Agreement. 
“Term H Lender”: each Lender that holds a Term H Loan Commitment or that makes a Term H Loan.

“Term H Loan Commitment”: as to any Term H Lender, the obligation of such Lender to make Term H Loans in an aggregate principal amount not to exceed, as applicable, (a) the amount set forth opposite such Lender’s name under the heading “Term H Loan Commitment” on Schedule I or (b) the amount set forth in any Assignment and Assumption to which such Lender is a party as an Assignee, in each case as the same may be changed from time to time pursuant to the terms hereof and of the Credit Agreement.  The Term H Loan Commitment of each Term H Lender shall automatically be permanently reduced by the amount of any Term H Loans made by it.  
“Term I Lender”: each Lender that holds a Term I Loan Commitment or that makes a Term I Loan.
“Term I Loan Commitment”: as to any Term I Lender, the obligation of such Lender to make Term I Loans in an aggregate principal amount not to exceed, as applicable, (a) the amount set forth opposite such Lender’s name under the heading “Term I Loan Commitment” on Schedule I or (b) the amount set forth in any Assignment and Assumption to which such Lender is a party as an Assignee, in each case as the same may be changed from time to time pursuant to the terms hereof and of the Credit Agreement.  The Term I Loan Commitment of each Term I Lender shall automatically be permanently reduced by the amount of any Term I Loans made by it.  

ARTICLE TWO

INCREMENTAL TERM LOANS

The terms of the Term H Loans and Term I Loans established pursuant to this Incremental Activation Notice shall be identical to the terms of the Term Loans outstanding immediately prior to the effectiveness of this Incremental Activation Notice, subject to the following additional terms or as otherwise provided herein:

(a)Procedures for Borrowing.  Subject to the terms and conditions hereof and in the Credit Agreement, (x) each Term H Lender severally agrees to make a loan (the “Term H Loan”), in each case, on the Incremental Facilities Effective Date in an amount equal to its Term H Loan Commitment pursuant to a single borrowing and (y) each Term I Lender severally agrees to make a loan (the “Term I Loan”), in each case, on the Incremental Facilities Effective Date in an amount equal to its Term I Loan Commitment pursuant to a single borrowing.  Each Term H Loan and Term I Loan shall initially be the Type of Loan specified in the Notice of Borrowing delivered pursuant to clause (b) of Article Four below until otherwise converted or continued in accordance with the Credit Agreement. 

(b)Incremental Term Maturity Date.  The Incremental Term Maturity Date for (i) the Term H Loans shall be August 24, 2021 (the “Incremental Term H Maturity Date”) and (ii) the Term I Loans shall be January 24, 2023  (the “Incremental Term I Maturity Date”).

(c)Amortization.  The Term H Loans of each Term H Lender shall mature in installments following the Incremental Facilities Effective Date (each due on the last day of each 

calendar quarter, except for the last installment), commencing the earlier (x) termination of the Acquisition Agreement and (y) the closing of the Acquisition Transactions, each of which shall be in an amount equal to (A) in the case of all such installments due prior to the Incremental Term H Maturity Date, 0.25% of the principal amount of the Term H Loans under the Credit Agreement on the Incremental Facilities Effective Date (it being understood that, in addition to reductions resulting from optional and mandatory prepayments in accordance with Section 2.8 and Section 2.9 of the Credit Agreement, the aggregate principal amount of amortization payable by the Borrower with respect to all Term H Loans on any such date shall be reduced proportionately as a result of any conversion of Term H Loans to Extended Term Loans following the Incremental Facilities Effective Date and prior to the date of such payment) and (B) in the case of the last installment (which shall be due on the Incremental Term H Maturity Date), the remaining principal balance of such Term H Loans outstanding on such date. The Term I Loans of each Term I Lender shall mature in installments following the Incremental Facilities Effective Date (each due on the last day of each calendar quarter, except for the last installment), commencing the earlier (x) termination of the Acquisition Agreement and (y) the closing of the Acquisition Transactions, each of which shall be in an amount equal to (A) in the case of all such installments due prior to the Incremental Term I Maturity Date, 0.25% of the principal amount of the Term I Loans under the Credit Agreement on the Incremental Facilities Effective Date (it being understood that, in addition to reductions resulting from optional and mandatory prepayments in accordance with Section 2.8 and Section 2.9 of the Credit Agreement, the aggregate principal amount of amortization payable by the Borrower with respect to all Term I Loans on any such date shall be reduced proportionately as a result of any conversion of Term I Loans to Extended Term Loans following the Incremental Facilities Effective Date and prior to the date of such payment) and (B) in the case of the last installment (which shall be due on the Incremental Term I Maturity Date), the remaining principal balance of such Term I Loans outstanding on such date.

(d)Applicable Margin.  The Applicable Margin with respect to the Term H Loans shall be the sum of (A) in the case of ABR Loans, (x) 1.50% and (y) the amount (expressed as a percentage), if any, by which 1.75% exceeds the ABR at such time and (B) in the case of Eurodollar Loans, (x) 2.50% and (y) the amount (expressed as a percentage), if any, by which 0.75% exceeds the Eurodollar Rate for such Loans at such time. The Applicable Margin with respect to the Term I Loans shall be the sum of (A) in the case of ABR Loans, (x) 1.75% and (y) the amount (expressed as a percentage), if any, by which 1.75% exceeds the ABR at such time and (B) in the case of Eurodollar Loans, (x) 2.75% and (y) the amount (expressed as a percentage), if any, by which 0.75% exceeds the Eurodollar Rate for such Loans at such time.

(e)Upfront Fees.   On the Incremental Facilities Effective Date, the Borrower shall pay to each Term H Lender and Term I Lender an upfront fee equal to 0.25% of the principal amount of the Term H Loans and Term I Loans, respectively, funded to the Borrower by such Term H Lender or Term I Lender, as the case may be, on such date.

(f)Designation.  None of the Term H Loans or Term I Loans shall constitute Refinancing Term Loans.

(g)Participation in Mandatory Prepayments from Asset Sales.  The Term H Loans and Term I Loans shall participate to the fullest extent permitted by Section 2.9(a) of the Credit 

Agreement in any prepayment from amounts required to be applied to a prepay Term Loans pursuant to Section 2.9(a) of the Credit Agreement. 

(h)Participation in Voluntary Prepayments; Soft-Call Protection. Voluntary repayments of the Term H Loans and Term I Loans will be permitted at any time, without premium or penalty, subject to Section 2.18 of the Credit Agreement, except as provided in the following sentence. Notwithstanding anything to the contrary contained in the foregoing or in the Credit Agreement, at the time of the effectiveness of any Repricing Transaction that is consummated prior to the sixth month anniversary of the Incremental Facilities Effective Date, the Borrower agrees to pay to the Administrative Agent, for the ratable account of each Lender with outstanding Term H Loans or Term I Loans that are subject to such Repricing Transaction, a fee in an amount equal to 1.0% of (x) in the case of a Repricing Transaction of the type described in clause (a) of the definition thereof, the aggregate principal amount of such Lender’s Term H Loans or Term I Loans, as applicable, prepaid (or converted) in connection with such Repricing Transaction and (y) in the case of a Repricing Transaction described in clause (b) of the definition thereof, the aggregate principal amount of such Lender’s Term H Loans or Term I Loans, as applicable, outstanding immediately prior to such amendment.  Such fees shall be due and payable upon the date of the effectiveness of such Repricing Transaction.

(i)Assignment and Participation of Loans.  The Term H Loans and Term I Loans shall be subject to the assignment and participation provisions applicable to Term Loans under Section 10.6 of the Credit Agreement.

ARTICLE THREE

REPRESENTATION AND WARRANTIES; NO DEFAULTS

Each Loan Party represents and warrants to the Administrative Agent and each of the Lenders party hereto that (i) each of the representations and warranties made by any Loan Party in or pursuant to the Loan Documents shall be true and correct in all material respects on and as of such date as if made on and as of such date (except for any representation and warranty that is made as of a specified earlier date, in which case such representation and warranty shall have been true and correct in all material respects as of such earlier date) and (ii) no Default or Event of Default shall have occurred and be continuing on the date hereof or after giving effect to the Commitments and Loans in respect of the Term H Loans.

ARTICLE FOUR
CONDITIONS TO EFFECTIVENESS
The effectiveness of this Incremental Activation Notice on the Incremental Facilities Effective Date is subject to satisfaction of the following conditions precedent:
(a)Counterparts of Agreement.  The Administrative Agent shall have received duly executed and delivered counterparts (or written evidence thereof satisfactory to the Administrative Agent, which may include telecopy transmission of, as applicable, a signed signature page) of this Incremental Activation Notice from (i) each Loan Party and (ii)  the Lenders listed on Schedule I hereto (the “Incremental Term Lenders”).

(b)Notice of Borrowing.  The Administrative Agent shall have received a duly completed Notice of Borrowing for the Term H Loans and Term I Loans to be borrowed on the Incremental Facilities Effective Date.

(c)Opinion of Counsel to the Loan Parties.  The Administrative Agent shall have received an opinion addressed to the Administrative Agent and the Lenders party to the Credit Agreement, dated the Incremental Facilities Effective Date, of Kirkland & Ellis LLP, counsel to the Loan Parties, covering such matters as the Administrative Agent and the Incremental Term Lenders may reasonably request.

ARTICLE FIVE

MISCELLANEOUS

(a)Expenses.  To the extent contemplated by Section 10.5 of the Credit Agreement, the Borrower agrees to reimburse the Administrative Agent and each other Agent for its reasonable out of pocket expenses in connection with this Incremental Activation Notice and the transactions contemplated hereby, including the reasonable fees, charges and disbursements of Cahill Gordon & Reindel llp, counsel for the Administrative Agent.

(b)Effect of Incremental Activation Notice.  Except as expressly set forth herein, this Incremental Activation Notice shall not by implication or otherwise limit, impair, constitute an amendment of or otherwise affect the rights and remedies of the Lenders or the Administrative Agent under the Credit Agreement or any other Loan Document, and shall not alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Credit Agreement or any other provision of either such agreement or any other Loan Document.  Each and every term, condition, obligation, covenant and agreement contained in the Credit Agreement or any other Loan Document is hereby ratified and re-affirmed in all respects and shall continue in full force and effect.  Each Loan Party reaffirms its obligations under the Loan Documents to which it is party and the validity of the Liens granted by it pursuant to the Collateral Documents.  From and after the Incremental Facilities Effective Date, all references to the Credit Agreement in any Loan Document shall, unless expressly provided otherwise, refer to the Credit Agreement as supplemented by this Incremental Activation Notice.

(c)Counterparts; Integration; Effectiveness.  This Incremental Activation Notice may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract.  This Incremental Activation Notice shall become effective when this Incremental Activation Notice shall have been executed by the Administrative Agent and when the Administrative Agent shall have received counterparts hereof and thereof which, when taken together, bear the signatures of each of the other parties hereto and thereto, and thereafter shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.  Delivery of an executed counterpart of a signature page of this Incremental Activation Notice by telecopy shall be effective as delivery of a manually executed counterpart of this Incremental Activation Notice.

(d)Governing Law.  This Incremental Activation Notice and the rights and obligations of the parties under this Incremental Activation Notice shall be governed by, and construed and interpreted in accordance with, the law of the State of New York.

(e)Headings.  Article and Section headings used herein are for convenience of reference only, are not part of this Incremental Activation Notice and shall not affect the construction of, or be taken into consideration in interpreting, this Incremental Activation Notice.
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	CCO HOLDINGS, LLC

	 
	 

	 
	 

	By:
	/s/ Thomas M. Degnan

	 
	Name:  Thomas M. Degnan

	 
	Title:  Senior Vice President - Finance

	 
	Corporate Treasurer

	 
	 

	CHARTER COMMUNICATIONS OPERATING, LLC

	 
	 

	 
	 

	By:
	/s/ Thomas M. Degnan

	 
	Name:  Thomas M. Degnan

	 
	Title:  Senior Vice President - Finance

	 
	Corporate Treasurer

	 
	 

	THE SUBSIDIARY GUARANTORS LISTED ON SCHEDULE II HERETO

	 
	 

	 
	 

	By:
	/s/ Thomas M. Degnan

	 
	Name:  Thomas M. Degnan

	 
	Title:  Senior Vice President - Finance

	 
	Corporate Treasurer

[Signature Page to Activation Notice]

	
		
	BANK OF AMERICA, N.A., 

	as a Term H Lender and Term I Lender

	 
	 

	 
	 

	By:
	/s/ Eric Ridgway

	 
	Name:  Eric Ridgway

	 
	Title:  Vice President

[Signature Page to Activation Notice]

	
		
	ACKNOWLEDGED AND ACCEPTED:

	 

	BANK OF AMERICA, N.A.,

	as Administrative Agent

	 
	 

	 
	 

	By:
	/s/ Don B. Pinzon

	 
	Name:  Don B. Pinzon

	 
	Title:  Vice President

 

[Signature Page to Activation Notice]

Schedule I

Term H Loan Commitments and Term I Loan Commitments
on Incremental Facilities Effective Date

	
			
	Term H Lender
	Term H Loan Commitment
	Term I Loan Commitment

	Bank of America, N.A.
	$1,000,000,000
	$2,800,000,000

	Total
	$1,000,000,000
	$2,800,000,000

Schedule I-1

Schedule II
Subsidiary Guarantors
American Cable Entertainment Company, LLC
Cable Equities Colorado, LLC
CCO Purchasing, LLC
Charter Advertising of Saint Louis, LLC
Charter Cable Operating Company, LLC
Charter Cable Partners, LLC
Charter Communications Entertainment I, LLC
Charter Communications Entertainment II, LLC
Charter Communications Entertainment, LLC
Charter Communications Properties LLC
Charter Communications, LLC
Charter Distribution, LLC
Charter Helicon, LLC
Charter RMG, LLC
HPI Acquisition Co. LLC
Interlink Communications Partners, LLC
Long Beach, LLC
Marcus Cable Associates, L.L.C.
Marcus Cable of Alabama, L.L.C.
Peachtree Cable TV, LLC
Rifkin Acquisition Partners, LLC
Tennessee, LLC
Vista Broadband Communications, LLC
Cable Equities of Colorado Management Corp.
Marcus Cable, Inc.
Robin Media Group, Inc.
Helicon Partners I, L.P.
Peachtree Cable TV, L.P.
The Helicon Group, L.P.
Charter Communications Operating Capital Corp.
CCO NR Holdings, LLC
Charter Communications Ventures, LLC
CC Systems, LLC
CC Fiberlink, LLC
Charter Fiberlink - Alabama, LLC
Charter Fiberlink - Illinois, LLC
Charter Fiberlink CCO, LLC
Charter Fiberlink - Michigan, LLC
Charter Fiberlink - Missouri, LLC
Charter Fiberlink TX-CCO, LLC
Charter Communications VII, LLC
Falcon Cable Communications, LLC
Falcon Community Cable, L.P.

Schedule II-1

Falcon Video Communications, L.P.
Falcon Cable Media, A California Limited Partnership
Falcon Community Ventures I Limited Partnership
Falcon Cable Systems Company II, L.P.
Falcon Cablevision, A California Limited Partnership
Falcon Telecable, A California Limited Partnership
Falcon First, Inc.
Falcon First Cable of the Southeast, Inc.
Athens Cablevision Inc.
Dalton Cablevision Inc.
Plattsburgh Cablevision Inc.
Scottsboro TV Cable, Inc.
Ausable Cable TV, Inc.
Charter Fiberlink AR-CCVII, LLC
Charter Fiberlink NV-CCVII, LLC
Charter Fiberlink OR-CCVII, LLC
Charter Fiberlink WA-CCVII, LLC
Charter Communications VI, LLC
CC 10, LLC
CC VI Operating Company, LLC
Tioga Cable Company, Inc.
Charter Fiberlink MS-CCVI, LLC
Charter Fiberlink CA-CCO, LLC
Charter Fiberlink MA-CCO, LLC
Charter Fiberlink NC-CCO, LLC
Charter Fiberlink OH-CCO, LLC
Charter Fiberlink SC-CCO, LLC
Charter Fiberlink VA-CCO, LLC
Charter Fiberlink VT-CCO, LLC
CC V Holdings, LLC
CC VIII, LLC
CC VIII Holdings, LLC
CC VIII Operating, LLC
CC Michigan, LLC
Charter Communications V, LLC
Charter Fiberlink CC VIII, LLC
Hometown TV, Inc.
Midwest Cable Communications, Inc.
Charter Video Electronics, Inc.
Renaissance Media LLC
Charter Leasing of Wisconsin, LLC
Charter Leasing Holding Company, LLC
Charter Stores FCN, LLC
Pacific Microwave Joint Venture
CC VI Fiberlink, LLC
CC VII Fiberlink, LLC

Schedule II-2

CC VIII Fiberlink, LLC
CCO Fiberlink, LLC
CCO SoCal I, LLC
CCO SoCal II, LLC
CCO SoCal Vehicles, LLC
Charter Fiberlink CT - CCO, LLC
Charter Fiberlink - Georgia, LLC
Charter Fiberlink LA - CCO, LLC
Charter Fiberlink - Nebraska, LLC
Charter Fiberlink NY - CCO, LLC
Charter Fiberlink NH - CCO, LLC
Charter Fiberlink - Tennessee, LLC
Charter Advanced Services (CA), LLC
Charter Advanced Services (CT), LLC
Charter Advanced Services (LA), LLC
Charter Advanced Services (MA), LLC
Charter Advanced Services (NC), LLC
Charter Advanced Services (NH), LLC
Charter Advanced Services (NY), LLC
Charter Advanced Services (SC), LLC
Charter Advanced Services (VA), LLC
Charter Advanced Services (VT), LLC
Charter Advanced Services (AL), LLC
Charter Advanced Services (GA), LLC
Charter Advanced Services (IL), LLC
Charter Advanced Services (MI), LLC
Charter Advanced Services (MO), LLC
Charter Advanced Services (NE), LLC
Charter Advanced Services (TN), LLC
Charter Advanced Services (TX), LLC
Charter Advanced Services (WI), LLC
Charter Advanced Services (MN), LLC
Charter Advanced Services (NV), LLC
Charter Advanced Services (OR), LLC
Charter Advanced Services (WA), LLC
Charter Advanced Services (MT), LLC
Charter Advanced Services (UT), LLC
Charter Advanced Services (WY), LLC
Charter Advanced Services (CO), LLC
Charter Advanced Services VIII (MI), LLC
Charter Advanced Services VIII (MN), LLC
Charter Advanced Services VIII (WI), LLC,
Bresnan Broadband Holdings, LLC
Bresnan Communications, LLC
Bresnan Digital Services, LLC
Bresnan Microwave of Montana, LLC

Schedule II-3

Bresnan Broadband of Colorado, LLC
Bresnan Broadband of Montana, LLC
Bresnan Broadband of Wyoming, LLC
Bresnan Broadband of Utah, LLC
Charter Advanced Services (MS), LLC
Charter Advanced Services (PA), LLC
Charter Advanced Services (OH), LLC
Charter Advanced Services (KY), LLC
Charter Advanced Services (IN), LLC
Charter Advanced Services (WV), LLC
RMG Transfers III, LLC
CCO Holdco Transfers VII, LLC
CCO Transfers, LLC
PCI Transfers VI, LLC 
ACTV Transfers V, LLC 
Phone Transfers (AL), LLC 
Phone Transfers (GA), LLC 
Phone Transfers (TN), LLC
Phone Transfers (CA), LLC 
Phone Transfers (NC), LLC 
Phone Transfers (VA), LLC
VOIP Transfers (AL), LLC 
VOIP Transfers (GA), LLC 
VOIP Transfers (TN), LLC 
VOIP Transfers (CA), LLC 
VOIP Transfers (NC), LLC
VOIP Transfers (VA), LLC 
CCO LP, LLC
Charter Communications of California, LLC 
Charter Home Security, LLC
Charter Fiberlink- Pennsylvania, LLC

Schedule II-4

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