Document:

Exhibit 10.2 

SECOND AMENDMENT TO REVOLVING PROMISSORY NOTE 

This SECOND AMENDMENT TO REVOLVING PROMISSORY NOTE (this “Second Amendment”), dated as of August 11, 2011, is entered into by and between XO COMMUNICATIONS, LLC, a Delaware limited liability company, as Borrower (the “Borrower”) and ARNOS CORP., as Lender (the “Lender”). 

RECITALS 

A.  The Borrower and the Lender have entered into that certain US$50,000,000 Revolving Promissory Note dated as of October 8, 2010 (the “Note”), as amended by the First Amendment to Revolving Promissory Note dated as of February 11, 2011 (which together shall be referred to herein as the “Note, as Amended”). Capitalized terms used herein and not defined shall have the meanings ascribed to them in the Note as Amended. 

B.  The Borrower has requested that the Lender amend certain provisions of the Note, as Amended, to extend the final maturity thereof. The Lender has agreed to such amendments, subject to the terms and conditions set forth herein. 

NOW, THEREFORE, in consideration of the premises and the mutual covenants contained herein, the parties hereto hereby agree as follows: 

SECTION 1.  Amendment to the Note. The Note, as Amended, is hereby further amended as follows: 

All references to the words “May 1, 2012” contained in Section 3 of the Note, as Amended, shall be amended to read “August 16, 2012”. 

SECTION 2.  Execution in Counterparts. This Second Amendment may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed to be an original and all of which taken together shall constitute but one and the same agreement. Delivery of an executed counterpart of a signature page to this Second Amendment by facsimile or electronic mail shall be effective as delivery of a manually executed counterpart of this Second Amendment. 

SECTION 3.  Governing Law. This Second Amendment and the legality, validity and performance of the terms hereof is made in accordance with and shall be construed under the laws of the State of New York, without regard to the conflicts of law principles thereof that would result in the application of any law other than the law of the State of New York. 

SECTION 4.  Except as specifically amended hereby, all terms and provisions of the Note, as Amended, shall remain unaltered and in full force and effect. 

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

BORROWER: 

XO COMMUNICATIONS, LLC

/s/ Laura W. Thomas

Name: Laura W. Thomas
 Title: Senior Vice President, Chief
 Financial Officer and Manager 

Address: 13865 Sunrise Valley Drive

Herndon, Virginia 20171
Facsimile: 703-547-2025
Attention: General Counsel

ACCEPTED AND AGREED
 AS OF THE DATE FIRST
 WRITTEN ABOVE: 

LENDER: 

ARNOS CORP. 

/s/ Edward E. Mattner

Name: Edward E. Mattner
 Title: Authorized Signatory

Address: c/o Icahn Associates Corp.

767 Fifth Avenue, 46th Floor
New York, New York 10153
Facsimile: 650-328-6345
Attention: Chief Financial OfficerUnassociated Document

 

EXHIBIT 10.3

SECOND MODIFICATION TO LETTER AGREEMENTS

THIS SECOND MODIFICATION TO LETTER AGREEMENTS (this “Agreement”) is made, entered into and effective as of the 22nd day of June, 2011 by and among (i) Lightyear Network Solutions, LLC, a Kentucky limited liability company (“LNS”); and (ii) Rigdon O. Dees, III, individually (“Dees”), Rice Realty Company, LLC, a Kentucky limited liability company (“RRC”), Ron Carmicle, individually (“Carmicle”), LANJK, LLC, a Kentucky limited liability company (“LANJK”), and CTS Equities Limited Partnership, a Nevada limited partnership (“CTS”) (collectively, the “Recipients”).

RECITALS:

A.           Each Recipient and LNS are parties to the Letter Agreements relating to VoIP revenue payments set forth on Exhibit A hereto (the “VoIP Letter Agreements”).

B.           Each Recipient and LNS are parties to the Letter Agreements relating to wireless revenue payments set forth on Exhibit B hereto (the “Wireless Letter Agreements”).

C.           The VoIP Letter Agreements and the Wireless Letter Agreements are collectively referred to as the “Letter Agreements”.

D.           The Recipients and LNS entered into the First Modification to Letter Agreements dated February 10, 2010, whereby the parties (i) released and discharged LY Holdings, LLC from all of its obligations under the Letter Agreements, and (ii) released and discharged LNS from its obligation to pay VoIP Revenue Payments for 2009, and the Wireless Revenue Payments for 2009.

E.           The VoIP Revenue Payments (as defined in the VoIP Letter Agreements) owed to the Recipients for 2010 are $44,237.65, and through April 2011 are $29,501.35. The Wireless Revenue Payments (as defined in the Wireless Letter Agreements) owed to the Recipients for 2010 are $25,930.36, and for 2011 are $22,247.97.

F.           The Recipients have agreed to release LNS from any obligation to pay (i) the VoIP Revenue Payments for 2010 and 2011, and (ii) the Wireless Revenue Payments for 2010, and 2011.

G.           The Recipients shall be entitled to receive VoIP Revenue Payments and Wireless Revenue Payments beginning in January 2012 and going forward pursuant to the terms of the Letter Agreements.

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto hereby agree as follows:

 

  

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1.           No Obligation to Pay Revenue Payments.  The Recipients hereby forever release and discharge LNS from (i) any obligation to pay the outstanding VoIP Revenue Payments for 2010 and the outstanding and any future VoIP Revenue Payments for 2011, and (ii) any obligation to pay the outstanding Wireless Revenue Payments for 2010, and the outstanding and any future Wireless Revenue Payments for 2011.

2.           Restatement of Obligations.  Except as otherwise expressly set forth herein, each Letter Agreement shall remain in full force and effect, and the Recipients shall be entitled to receive VoIP Revenue Payments and Wireless Revenue Payments beginning in January 2012 and going forward pursuant to the terms of the Letter Agreements.   LNS hereby reaffirms and restates its obligations under the Letter Agreements as modified herein.

3.           Fees and Expenses.  LNS shall pay all reasonable out-of-pocket expenses (including attorneys’ fees) incurred by the Recipients in connection with the transactions contemplated herein.

4.           Singular and Plural Terms.  Wherever the context requires, the singular number shall include the plural, the plural the singular, and the use of any gender shall include all genders.

5.           Binding Effect.  This Agreement shall bind and inure to the benefit of the parties and their respective successors and permitted assigns.  LNS may not assign this Agreement without the prior written consent of the Recipients.

6.           Governing Law.  This Agreement has been delivered and accepted at and will be deemed to have been made at Louisville, Kentucky and will be interpreted and the rights and liabilities of the parties hereto determined in accordance with the laws of the Commonwealth of Kentucky, without regard to conflicts of law principles.

7.           Jurisdiction.  The parties hereby irrevocably agree and submit to the exclusive jurisdiction of any state or federal court located within Jefferson County, Kentucky, and waive any objection based on forum non conveniens and any objection to venue of any such action or proceeding.

8.           Waiver of Jury Trial.  The parties hereto each waive any right to trial by jury in any action or proceeding relating to this Agreement, or any actual or proposed transaction or other matter contemplated in or relating to any of the foregoing.

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IN WITNESS WHEREOF, the parties have executed this Agreement on the date first above written.

	  	Lightyear Network Solutions, LLC	  
	  	  	  	  
	  	By: 	
/s/ Steve Lochmueller

	  
	  	  	  	  
	  	Title:	
CEO

	  
	  	  	  	  
	  	  	 
(“LNS”)

	
 

	  	  	  	  
	  	  	  	  
	  	  	
 

	  
	  	  	
Rigdon O. Dees, III, individually

	  
	  	  	  	  
	  	  	
Rice Realty Company, LLC

	  
	  	  	  	  
	  	  	  	  
	  	By: 	
/s/ W. Brent Rice

	  
	  	  	
      W. Brent Rice, Member

	  
	  	  	  	  
	  	  	  	  
	  	/s/  Ronald Carmicle	  
	  	Ron Carmicle, individually	  
	  	  	  	  
	 	 	 
	  	LANJK, LLC	  
	  	  	  	  
	  	By: 	
/s/ J. Sherman Henderson, III

	  
	  	  	  	  
	  	Title: 	
Managing Partner

	  
	  	  	  	  
	 	 	 
	  	CTS Equities Limited Partnership	  
	  	  	  	  
	  	By: 	
/s/ Chris Sullivan

	  
	  	  	
      Chris T. Sullivan, General Partner

	  
	  	  	  	  
	  	  	 
(“Recipients”)

	
 

 

  

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EXHIBIT A

VoIP LETTER AGREEMENT

1.            Letter Agreement dated July 23, 2004, among LYH, LNS and LANJK.

2.            Letter Agreement dated July 26, 2004, among LYH, LNS and Carmicle.

3.            Letter Agreement dated July 20, 2004, among LYH, LNS and Dees.

4.            Letter Agreement dated July 30, 2004, among LYH, LNS and RRC.

5.            Letter Agreement dated July 26, 2004, among LYH, LNS and CTS.

 

  

  

  

EXHIBIT B

WIRELESS LETTER AGREEMENTS

1.            Letter Agreement dated July 1, 2008, among LYH, LNS and LANJK.

2.            Letter Agreement dated July 1, 2008, among LYH, LNS and Carmicle.

3.            Letter Agreement dated July 1, 2008, among LYH, LNS and Dees.

4.            Letter Agreement dated July 1, 2008, among LYH, LNS and RRC.

5.            Letter Agreement dated July 1, 2008, among LYH, LNS and CTS.

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