Document:

Exhibit 10.3

 

 

AMENDMENT
NO. 1 TO TERM LOAN CREDIT AGREEMENT

 

THIS
AMENDMENT NO. 1 TO TERM LOAN CREDIT AGREEMENT dated as of September 23, 2018 (this “Amendment”) is entered
into among Comcast Corporation, a Pennsylvania corporation (“Borrower”), the Lenders party hereto, and Bank
of America, N.A., as Administrative Agent. All capitalized terms used herein and
not otherwise defined herein shall have the meanings given to such terms in the Sky Term Loan Credit Agreement (as defined below).

 

RECITALS

 

WHEREAS,
Borrower, the Lenders, the Administrative Agent, and the other persons party thereto entered into that certain Term Loan Credit
Agreement dated as of April 25, 2018 (as amended, restated, amended and restated, supplemented or otherwise modified from time
to time prior to the Amendment No. 1 Effective Date, the “Existing Sky Term Loan Credit Agreement”; the Existing
Sky Term Loan Credit Agreement, as amended pursuant to this Amendment, the “Sky Term Loan Credit Agreement”);
and

 

WHEREAS,
Borrower has requested that the Lenders and Administrative Agent amend the Existing Sky Term Loan Credit Agreement as set forth
below;

 

NOW,
THEREFORE, in consideration of the premises and the mutual covenants contained herein, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

1.       Amendment.
Each of the parties hereto agrees that, effective on the Amendment No. 1 Effective Date (as defined below), the Existing Sky Term
Loan Credit Agreement (including the exhibits and schedules thereto) shall be amended as follows:

 

(a)       To
delete Exhibit G thereto, the “Form of Target Acquisition Certificate”.

 

(b)       In
Section 1.01, to delete the defined term “Target Acquisition Certificate”.

 

(c)       In
Section 1.01, by amending and restating the last two rows of the table contained in the definition of “Requisite Time”
as follows:

 

	Payments
    by Lenders or Borrower to Administrative Agent of Eurodollar Rate Loans denominated in Sterling	9:00
a.m.	On
    the date payment is due
	Payments
    by Lenders or Borrower to Administrative Agent of Eurodollar Rate Loans denominated in Dollars	1:00
p.m.	On
    the date payment is due
	Payments
    by Lenders to Administrative Agent of Base Rate Loans	2.00
    p.m.	On
    the date payment is due 

   

 

     

     

    

(d)       In
Section 1.01, by amending and restating clause (e) of the definition of “Transactions” as follows: “the acquisition
of Target shares, including, but not limited to, the consummation of the Target Acquisition (and including any acquisition of
Target shares on or after the Initial Closing Date) and”.

 

(e)       In
Section 2.01(c), by deleting the words “three occasions” and replacing such words with “ten occasions”.

 

(f)       In
Section 4.02, by deleting the current clause (b) and replacing it with “[Reserved].”

 

(g)       By
amending and restating Section 5.06 as follows:

 

Use
of Proceeds. Borrower will use the proceeds of the Loans solely to finance the acquisition of Target shares and to make other
payments in connection with the Transactions, which, for the avoidance of doubt, may include, but shall not be limited to, in
each case, (i) a Borrowing of Loans on or after the Initial Closing Date but prior to the consummation of any acquisition of Target
shares and (ii) the acquisition of Target shares by or on behalf of a direct or indirect Subsidiary, whether prior to or in the
absence of the full consummation of the intended Target Acquisition (including to refinance an initial use of funds to acquire
such Target shares). No part of the proceeds of any Extensions of Credit hereunder will be used for “purchasing” or
“carrying” “margin stock” as so defined in a manner which violates, or which would be inconsistent with,
the provisions of Regulations T, U, or X of the Board of Governors of the Federal Reserve System.

 

(h)       By
amending and restating Exhibit B (Form of Request for Extension of Credit) as set forth on Exhibit A hereto.

 

2.       Conditions
Precedent. This Amendment shall be effective upon satisfaction of the following conditions precedent (the date such conditions
precedent are satisfied, the “Amendment No. 1 Effective Date”):

 

(a)       Receipt
by Administrative Agent of each of the following, each of which shall be originals, facsimiles or pdf copies unless otherwise
specified:

 

		(i)	Executed counterparts of
this Amendment, executed and delivered by Borrower, Administrative Agent and the Required Lenders and acknowledged by each Guarantor
(provided that the requirements of this clause (i) may be satisfied by customary written evidence reasonably satisfactory
to Administrative Agent (which may include electronic transmission of a signed signature page) that such party has signed a counterpart
to this Amendment); and

 

		(ii)	A
                                         certificate signed by a Responsible Officer of Borrower certifying that (A) the
                                         representations and warranties made by Borrower in the Sky Term Loan Credit Agreement,
                                         or which are contained in any certificate, document or financial or other statement furnished
                                         at any time under or in connection therewith, shall be correct in all material respects
                                         on and as of the Amendment No. 1 Effective Date, (B) no Default or Event of Default shall
                                         have occurred and be continuing and (C) that there has been no event or circumstance
since the date of the Reference Statements which has a Material Adverse Effect.

 

     

     

    

Without
limiting the generality of the provisions of Section 10.01 of the Sky Term Loan Credit Agreement, for purposes of determining
compliance with the conditions specified in this Section 2, each Lender that has signed or otherwise become a Lender under
this Amendment shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter
required thereunder to be consented to or approved by or acceptable or satisfactory to a Lender unless Administrative Agent shall
have received notice from such Lender prior to the proposed Amendment No. 1 Effective Date specifying its objection thereto. Administrative
Agent (or its counsel) shall promptly notify the Lenders and Borrower in writing of the occurrence of the Amendment No. 1 Effective
Date, which shall be conclusive evidence of the occurrence thereof (it being understood that any failure to so notify shall not
preclude the occurrence of the Amendment No. 1 Effective Date if all conditions to the occurrence thereof have been met). Notwithstanding
anything to the contrary in this Amendment, this Section 2 and the conditions set out in this Section 2 shall cease to apply and
be of no further effect on and from the Amendment No. 1 Effective Date.

 

		3.	Miscellaneous.

 

(a)       The
Existing Sky Term Loan Credit Agreement (as amended hereby), and the obligations of the Loan Parties thereunder and under the
other Loan Documents, are hereby ratified and confirmed and shall remain in full force and effect according to their terms. Except
as expressly set forth herein, this Amendment shall not be deemed to be an amendment or modification of any other provisions of
the Existing Sky Term Loan Credit Agreement or any other Loan Document or any right, power or remedy of the Lenders, nor constitute
a waiver of any provision of the Existing Sky Term Loan Credit Agreement, any other Loan Document, or any other document, instrument
and/or agreement executed or delivered in connection therewith or of any Default or Event of Default under any of the foregoing,
in each case, whether arising before or after the date hereof or as a result of performance hereunder or thereunder.

 

(b)       Each
Guarantor (a) acknowledges and consents to all of the terms and conditions of this Amendment, (b) affirms all of its obligations
under the Loan Documents and (c) agrees that this Amendment and all documents executed in connection herewith do not operate to
reduce or discharge its obligations under the Sky Term Loan Credit Agreement or the Loan Documents.

 

		(c)	Each Loan Party hereby represents
                                         and warrants as follows:

 

(i)       Each
Loan Party has taken all necessary corporate or limited liability company action to authorize the execution, delivery and performance
of this Amendment.

 

(ii)       This
Amendment has been duly executed and delivered by each of the Loan Parties and constitutes each of the Loan Parties’ legal,
valid and binding obligations, enforceable in accordance with its terms, except as such enforceability may be limited by Debtor
Relief Laws and general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity
or at law).

 

(iii)       No
consent, approval, authorization or order of, or filing, registration or qualification with, any Governmental Authority is required
in

 

     

     

    

connection
with the execution, delivery or performance by any Loan Party of this Amendment other than those that have already been obtained
and are in full force and effect or the failure of which to have obtained would not reasonably be expected to have a Material
Adverse Effect.

 

(d)       This
Amendment may be executed in any number of counterparts, each of which when so executed and delivered shall be an original, but
all of which shall constitute one and the same instrument. Delivery of an executed counterpart of this Amendment by telecopy shall
be effective as an original and shall constitute a representation that an executed original shall be delivered.

 

(e)       THIS
AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER AND ANY CLAIMS, CONTROVERSY, DISPUTE OR CAUSE OF ACTION (WHETHER
IN CONTRACT OR TORT OR OTHERWISE) BASED UPON, ARISING OUT OF OR RELATING TO THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED
IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

 

(f)       This
Amendment shall constitute a “Loan Document” for all purposes of the Sky Term Loan Credit Agreement and the other
Loan Documents.

 

[remainder
of page intentionally left blank]

 

     

     

    

Each
of the parties hereto has caused a counterpart of this Amendment to be duly executed and delivered as of the date first above
written.

 

	 	COMCAST CORPORATION
	 	 
	 	By: 	/s/ William E. Dordelman

	 	 	Name:  William E. Dordelman

Title:    Senior Vice President and Treasurer

 

 

[Signature Page to Amendment
No. 1 to Term Loan Credit Agreement]

     

     

    

 

	 	BANK OF AMERICA, N.A.,

as a Lender and as an Administrative Agent
	 	 
	 	By: 	/s/ Brandon Bolio
	 	 	Name:  Brandon Bolio
Title:    Director

 

 

[Signature Page to Amendment
No. 1 to Term Loan Credit Agreement] 

     

     

    

	 	WELLS FARGO BANK,
NATIONAL ASSOCIATION,

as a Lender
	 	 
	 	By: 	/s/ Nicholas Grocholski
	 	 	Name:  Nicholas Grocholski
Title:    Director

 

 

[Signature Page to Amendment
No. 1 to Term Loan Credit Agreement]

     

     

    

	 	

CREDIT
SUISSE AG, CAYMAN ISLANDS BRANCH,

as a Lender

	 	 
	 	By: 	/s/ William O’Daly
	 	 	Name:  William
    O’Daly
Title:    Authorized Signatory

 

 

	 	By: 	/s/ Brady Bingham
	 	 	Name:  Brady Bingham

Title:    Authorized Signatory

 

[Signature Page to Amendment
No. 1 to Term Loan Credit Agreement]

     

     

    

	 	MIZUHO BANK, LTD.,

as a Lender
	 	 
	 	By: 	/s/ Donna DeMagistris
	 	 	Name:  Donna
    DeMagistris
Title:    Authorized Signatory

 

 

[Signature Page to Amendment
No. 1 to Term Loan Credit Agreement]

    

     

    

	 	MUFG BANK, LTD.,

as a Lender
	 	 
	 	By: 	/s/ Matthew Hillman
	 	 	Name:  Matthew
    Hillman
Title:    Vice President

 

 

[Signature Page to Amendment
No. 1 to Term Loan Credit Agreement]

 

 

     

     

    

 

 

 

	 	SUMITOMO MITSUI BANKING CORPORATION, 
	 	as a Lender
	 	 	 
	 	 	 
	 	By:	 /s/James D. Weinstein 
	 	      	Name: James D. Weinstein
	 	      	Title: Managing Director

 

 

 

 

[Signature Page to Amendment
No. 1 to Term Loan Credit Agreement]

    

     

    

	 	ACKNOWLEDGED AND CONSENTED
TO:
	 	 
	 	 
	 	 
	 	Comcast Cable Communications, LLC
	 	 
	 	By: 	/s/ William E. Dordelman
	 	 	Name:  William E.
    Dordelman
Title:    Senior Vice President and Treasurer
	 	 
	 	 
	 	NBCUniversal
Media, LLC
	 	 
	 	By: 	/s/ William E. Dordelman
	 	 	Name:  William E. Dordelman
Title:    Senior Vice President and Treasurer

  

 

[Signature Page to Amendment
No. 1 to Term Loan Credit Agreement]

     

     

    

EXHIBIT
A to Amendment No. 1

 

EXHIBIT
B

 

[FORM OF]

 

REQUEST FOR
EXTENSION OF CREDIT

 

Date: ______________,
20__

 

To:Bank of America, N.A.,
as Administrative Agent

 

Ladies and Gentlemen:

 

Reference
is made to that certain Term Loan Credit Agreement (as amended, restated, extended, supplemented or otherwise modified in writing
from time to time, the “Credit Agreement”; the terms defined therein being used herein as therein defined)
dated as of April 25, 2018, among Comcast Corporation, a Pennsylvania corporation (“Borrower”), the Lenders
from time to time party thereto, Bank of America, N.A., as Administrative Agent, and the other agents party thereto.

 

	The undersigned
Responsible Officer hereby requests (select one):
	 
	[__] A Borrowing of Loans
	[__] A Conversion or Continuation of Loans
	 
	1.       On
___________________________ (a Business Day).
	 
	2.       Denominated in the following currency:1
	 

In
the amount of [£] [$]___________________________.

 

Comprised
of ____________________________________.[type of Loan requested]2

 

3.       [[£]
[$]]3 of which Loans shall be [3-Year Sterling Tranche Term Loans][3-Year Dollar Tranche Term Loans] and [[£]
[$]]4 of which Loans shall be [5-Year Sterling Tranche Term Loans][5-Year Dollar Tranche Term Loans]5

 

4.       For
Eurodollar Rate Loans: with an Interest Period of ___ months6 (or ___ days, if for an Interest Period of less than
one month). 

 

[The
foregoing request complies with the requirements of Section 2 of the Credit Agreement. The undersigned hereby certifies that the
following statements will be true on the date of the requested Extension of Credit:

 

 

__________________

1
Must be Sterling or Dollars. 

2
Loans denominated in Sterling must be maintained as Eurodollar Rate Loans. 

3
Insert amount. 

4
Insert amount. 

5
Delete as applicable. 

6 One,
two, three, six, or if agreed to by each Lender, twelve months. 

 

     

     

    

(a)       No
Major Event of Default has occurred and is continuing or would result from the proposed Extension of Credit to be made on such
date.

 

(b)       The
proceeds of the Extension of Credit will be used in compliance with the provisions of Section 5.06 (Use of Proceeds) of
the Credit Agreement.]7

 

[The
foregoing request complies with the requirements of Section 2 of the Credit Agreement. The undersigned hereby certifies that the
following statements are true:

 

(a)       No
Default or Event of Default exists as of the date hereof, or would result from such Extension of Credit or the use thereof.

 

(b)       The
representations and warranties of Borrower contained in Section 5 (other than Sections 5.04(b) and 5.05) of the Credit Agreement
are true and correct in all material respects on and as of the date hereof as if made on and as of such date, except to the extent
any such representation and warranty specifically relates to any earlier date, in which case such representation and warranty
is true and correct in all material respects on and as of such earlier date.

 

(c)       The
proceeds of the Extension of Credit will be used in compliance with the provisions of Section 5.06 (Use of Proceeds) of
the Credit Agreement.]8

 

 

 

_______________________

7
Include only in the case of a Request for Extension of Credit pursuant to the Offer
(and related Transaction Costs). 

8 Include
only in the case of a Request for Extension of Credit not pursuant to the Offer (and related Transaction Costs).Exhibit 10.1

 

 

Tenth Amendment to Credit and Security Agreement

This Tenth Amendment to Credit and Security Agreement (herein, the “Amendment”) is entered into as of September 25, 2018 (the “Effective Date”), among Martin Marietta Funding LLC, a Delaware limited liability company (“Borrower”), Martin Marietta Materials, Inc., a North Carolina corporation, as initial Servicer (the “Servicer”), each commercial paper conduit and financial institution from time to time a party to the Credit and Security Agreement (as defined below) as lenders (the “Lenders”), and SunTrust Bank (“SunTrust”), a Georgia banking corporation, in its capacity as administrative agent for the Lenders (in such capacity, together with its successors and assigns, the “Administrative Agent”).

Preliminary Statements

 

Whereas, the Borrower, the Servicer, the Lenders and the Administrative Agent entered into a certain Credit and Security Agreement, dated as of April 19, 2013 (the Credit and Security Agreement, as the same has been amended prior to the date hereof, being referred to herein as the “Credit and Security Agreement”).  All capitalized terms used herein without definition shall have the same meanings herein as such terms have in the Credit and Security Agreement;

Whereas, the Borrower and the Servicer have requested that the Administrative Agent and the Lenders agree to amend the Credit and Security Agreement and the Administrative Agent and the Lenders are willing to do so under the terms and conditions set forth in this Amendment;

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

	Section 1.	
Amendment.

Subject to the satisfaction of the conditions precedent set forth in Section 2 below, the Credit and Security Agreement shall be amended as follows:

1.1.            Section 1.7 of the Credit and Security Agreement is hereby amended and restated in its entirety and as so amended and restated shall read as follows:

Section 1.7.                          Suspension of the Eurodollar Rate.  (a) If any Lender lending at the Eurodollar Rate hereunder determines that (i) funding any of its Loan at the Eurodollar Rate would violate any applicable law, rule, regulation, or directive of any governmental or regulatory authority, whether or not having the force of law, (ii) deposits of a type and maturity appropriate to match fund its Loan at such Eurodollar Rate are not available or (iii) such Eurodollar Rate does not accurately reflect the cost of acquiring or maintaining such Loan, then, with prior notice to the Administrative Agent and the Borrower, such Lender may suspend the availability of the Eurodollar Rate, and such Lender’s Principal shall thereafter accrue Interest at the rate that is one‐half of one percent (0.50%) above the Federal Funds Rate.  Any conversion of any outstanding Loan bearing interest at the Eurodollar Rate which is required under this Section 1.7 shall be effected immediately (or, if permitted by applicable law, on the last day of the Interest Period therefor).

 

 

  

(b)            If, prior to the commencement of any Interest Period for any Loan accruing interest at the Eurodollar Rate:

(i) the Administrative Agent shall have determined (which determination shall be conclusive and binding upon the Borrower) that, by reason of circumstances affecting the relevant interbank market, adequate and reasonable means do not exist for ascertaining the Eurodollar Rate (including, without limitation, because the Reuters Screen LIBOR01 Page or any other page that may replace such page from time to time for the purpose of displaying offered rates of leading banks for London interbank deposits in United States dollars is not available or published on a current basis) for such Interest Period, or

(ii)            the Administrative Agent shall have received notice from the Required Lenders that the Eurodollar Rate for such Interest Period will not accurately reflect the cost to such Required Lenders of making, funding or maintaining their Eurodollar Loans for such Interest Period,

then the Administrative Agent shall give written notice thereof (or telephonic notice, promptly confirmed in writing) to the Borrower and to the Lenders as soon as practicable thereafter.  Until the Administrative Agent shall notify the Borrower and the Lenders that the circumstances giving rise to such notice no longer exist, (i) the obligations of the Lenders to make Eurodollar Loans or to continue or convert outstanding Loans as or into Eurodollar Loans shall be suspended and (ii) all such affected Loans shall be converted into Alternate Base Rate Loans on the last day of the then current Interest Period applicable thereto unless the Borrower prepays such Loans in accordance with this Agreement.  The Administrative Agent shall use reasonable efforts to determine from time to time whether the circumstances giving rise to such notice no longer exist and, promptly after the Administrative Agent determines that the circumstances giving rise to such notice no longer exist, the Administrative Agent shall use reasonable efforts to notify the Borrower and the Lenders.

  

2

 

 

(c)            If at any time the Administrative Agent determines (which determination shall be conclusive absent manifest error) that (i) the circumstances set forth in clause (a)(i) above have arisen and such circumstances are unlikely to be temporary or (ii) the circumstances set forth in clause (a)(i) above have not arisen but the supervisor for the administrator of the Reuters Screen LIBOR01 Page or any other page that may replace such page from time to time for the purpose of displaying offered rates of leading banks for London interbank deposits in United States dollars or a Governmental Authority having jurisdiction over the Administrative Agent has made a public statement identifying a specific date after which the Reuters Screen LIBOR01 Page or any other page that may replace such page from time to time for the purpose of displaying offered rates of leading banks for London interbank deposits in United States dollars shall no longer be used for determining interest rates for loans, then the Administrative Agent and the Borrower shall endeavor to establish an alternate rate of interest to the Eurodollar Rate that gives due consideration to the then prevailing market convention for determining a rate of interest for syndicated loans in the United States at such time, and shall enter into an amendment to this Agreement to reflect such alternate rate of interest and such other related changes to this Agreement as may be applicable (but for the avoidance of doubt, such related changes shall not include a reduction of the Applicable Margin).  Notwithstanding anything to the contrary in Section 12.1, such amendment shall become effective without any further action or consent of any other party to this Agreement so long as the Administrative Agent shall not have received, within five (5) Business Days of the date notice of such alternate rate of interest is provided to the Lenders, a written notice from the Required Lenders stating that such Required Lenders object to such amendment.  Until an alternate rate of interest shall be determined in accordance with this clause (c) (but, in the case of the circumstances described in clause (ii) of the first sentence of this clause (c), only to the extent the Reuters Screen LIBOR01 Page or any other page that may replace such page from time to time for the purpose of displaying offered rates of leading banks for London interbank deposits in United States dollars for the applicable currency and/or such Interest Period is not available or published at such time on a current basis), any conversion of any outstanding Loan bearing interest at the Eurodollar Rate to, or continuation of any Loan as, a Eurodollar Loan shall be ineffective.

1.2.            Section 3.1 of the Credit and Security Agreement is hereby amended by inserting the following new clause at the end thereof:

(aa)            Beneficial Ownership Rule.  The Borrower is an entity that is organized under the laws of the United States or of any state of the United States and at least 51 percent of whose common stock or analogous equity interest is owned by a listed entity and is excluded on that basis from the definition of Legal Entity Customer as set forth in the Beneficial Ownership Rule.

 

 

3

  

1.3.            Section 5.1(b) of the Credit and Security Agreement is hereby amended by inserting the following new clause at the end thereof:

(iv)            Change in Status.  Promptly following any change that would result in the Borrower being a Legal Entity Customer under the Beneficial Ownership Rule, the Borrower shall notify the Administrative Agent of such change and shall deliver to the Administrative Agent such information and shall complete such forms as are reasonably requested by the Administrative Agent for purposes of complying with the Beneficial Ownership Rule, in each case in form and substance reasonably acceptable to the Administrative Agent.

1.4.            The defined term “Facility Termination Date” appearing in Exhibit I to the Credit and Security Agreement is hereby amended and restated in its entirety and as so amended and restated shall read as follows:

“Facility Termination Date” means the earlier of (i) September 25, 2019, and (ii) the Amortization Date.

1.5.            A new defined term is hereby added to Exhibit I to the Credit and Security Agreement in alphabetical sequence and shall read as follows:

“Beneficial Ownership Rule” means 31 C.F.R. § 1010.230.

	Section 2.	
Conditions Precedent.

The effectiveness of this Amendment is subject to the satisfaction of all of the following conditions precedent:

2.1.                      The Borrower, the Servicer, the Lenders and the Administrative Agent shall have executed and delivered this Amendment.

2.2.                      The Administrative Agent shall have received a fully executed copy of that certain Tenth Amendment Fee Letter, dated as of the date hereof, by and among the Borrower, the Administrative Agent, and the Lenders (the “Fee Letter”).

2.3.                      The Lenders shall have received all fees due and payable under the Fee Letter.

 

 

4

  

2.4.                      Such other documents and instruments incident to the execution and delivery of this Amendment, in a form reasonably satisfactory to the Administrative Agent and its counsel, as may be reasonably requested by the Administrative Agent.

	Section 3.	
Representations and Warranties.

In order to induce the Lenders to execute and deliver this Amendment, each of the Borrower and the Servicer hereby represent to the Lenders that as of the date hereof (a) the representations and warranties set forth in Article III of the Credit and Security Agreement are and shall be and remain true and correct in all material respects (except to the extent such representations and warranties expressly relate to an earlier date, in which case such representations and warranties shall remain true and correct in all material respects as of such earlier date) and (b) each of the Borrower and the Servicer is in material compliance with the terms and conditions of the Credit and Security Agreement and no event has occurred and is continuing that would constitute an Amortization Event or a Potential Amortization Event under the Credit and Security Agreement or shall result after giving effect to this Amendment.

	Section 4.	
Miscellaneous.

4.1.                    The Borrower hereby acknowledges and agrees that the Liens created and provided for by the Transaction Documents continue to secure, among other things, the Aggregate Unpaids and the performance of all of the Borrower’s obligations under the Transaction Documents and the Credit and Security Agreement as amended hereby; and the Transaction Documents and the rights and remedies of the Lenders thereunder, the obligations of each of the Borrower and Servicer thereunder, and the Liens created and provided for thereunder remain in full force and effect and shall not be affected, impaired or discharged hereby.  Nothing herein contained shall in any manner affect or impair the priority of the liens and security interests created and provided for by the Transaction Documents as to the indebtedness which would be secured thereby prior to giving effect to this Amendment.

4.2.                    Except as specifically amended herein, the Credit and Security Agreement shall continue in full force and effect in accordance with its original terms.  Reference to this specific Amendment need not be made in the Credit and Security Agreement, the Notes, or any other instrument or document executed in connection therewith, or in any certificate, letter or communication issued or made pursuant to or with respect to the Credit and Security Agreement, any reference in any of such items to the Credit and Security Agreement being sufficient to refer to the Credit and Security Agreement as amended hereby.

4.3.                    The Borrower agrees to pay on demand all reasonable out-of-pocket costs and expenses of or incurred by the Administrative Agent in connection with the negotiation, preparation, execution and delivery of this Amendment, including the reasonable fees and expenses of counsel for the Administrative Agent.

 

 

5

  

4.4.                    This Amendment may be executed in any number of counterparts, and by the different parties on different counterpart signature pages, all of which taken together shall constitute one and the same agreement.  Any of the parties hereto may execute this Amendment by signing any such counterpart and each of such counterparts shall for all purposes be deemed to be an original.  Delivery of a counterpart hereof by facsimile transmission or by e‐mail transmission of an Adobe portable document format file (also known as a “PDF” file) shall be effective as delivery of a manually executed counterpart hereof.  This Amendment shall be governed by, and construed in accordance with, the internal laws of the State of New York.

[Signature Page to Follow]

 

 

 

 

 

 

 

 

6

 

 

This Tenth Amendment to Credit and Security Agreement is entered into as of the date and year first above written.

 

 

	 	
Martin Marietta Funding LLC,

	 
	 	as Borrower	 
	 	 	 	 
	 	 	 	 
	
 

	
By: 

	/s/ Roselyn Bar	 
	 	 	Name:  Roselyn Bar	 
	 	 	Title:    EVP, General Counsel and Corporate Secretary	 
	 	 	 	 

 

	 	
Martin Marietta Materials, Inc.,

	 
	 	     as the Servicer	 
	 	 	 	 
	 	 	 	 
	
 

	
By: 

	/s/ James A.J. Nickolas	 
	 	 	Name:  James A.J. Nickolas	 
	 	 	Title:    CFO	 
	 	 	 	 

 

Accepted and agreed to.

 

	 	
SunTrust Bank,

	 
	 	
     individually as a Lender and as Administrative Agent

	 
	 	 	 	 
	
 

	
By: 

	/s/ Pawan Churiwal	 
	 	 	Name:  Pawan Churiwal	 
	 	 	Title:    Director	 
	 	 	 	 

 

 

 

Signature Pages to Tenth Amendment to Credit and Security Agreement

 

 

	 	
PNC Bank, National Association,

	 
	 	
     as a Lender

	 
	 	 	 	 
	
 

	
By: 

	/s/ Christopher Blaney	 
	 	 	Name:  Christopher Blaney	 
	 	 	Title:    Senior Vice President	 
	 	 	 	 

 

 

 

 

 

 

 

 

 

 

 

 

 

Signature Pages to Tenth Amendment to Credit and Security Agreement

 

 

 

	 	
Regions Bank,

	 
	 	
     as a Lender

	 
	 	 	 	 
	
 

	
By: 

	/s/ Mark A. Kassis	 
	 	 	Name:  Mark A. Kassis	 
	 	 	Title:    Managing Director	 
	 	 	 	 

 

 

 

 

 

 

 

 

 

 

 

 

 

Signature Pages to Tenth Amendment to Credit and Security Agreement

 

 

 

	 	
MUFG Bank, Ltd.

	 
	 	     f/k/a The Bank of Tokyo-Mitsubishi UFJ, LTD.,	 
	 	
     New York Branch, as a Lender

	 
	 	 	 	 
	
 

	
By: 

	/s/ Eric Williams	 
	 	 	Name:  Eric Williams	 
	 	 	Title:    Managing Director	 
	 	 	 	 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Signature Pages to Tenth Amendment to Credit and Security Agreement

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