Document:

exhibit_waiver7creditagree.htm

    WAIVER
NO. 7

     

    WAIVER
NO. 7 dated as of June 12, 2009 (this “Agreement”) between
MORRIS PUBLISHING GROUP, LLC (the “Borrower”), MORRIS
COMMUNICATIONS COMPANY, LLC (“MCC”), MORRIS
COMMUNICATIONS HOLDING COMPANY, LLC (“Holdings”), SHIVERS
TRADING & OPERATING COMPANY (“Shivers”), MPG
NEWSPAPER HOLDING, LLC (“MPG Holdings”), the
SUBSIDIARY GUARANTORS party hereto (the “Subsidiary
Guarantors” and, together with the Borrower, MCC, Holdings, Shivers and
MPG Holdings, the “Obligors”), the
Lenders executing this Agreement on the signature pages hereto and JPMORGAN
CHASE BANK, N.A., as administrative agent for the lenders party to the Credit
Agreement referenced below (in such capacity, together with its successors in
such capacity, the “Administrative
Agent”).

     

    The
Borrower, MCC, the lenders party thereto and the Administrative Agent are
parties to a Credit Agreement dated as of December 14, 2005 (as amended by
Amendment No. 1 thereto, Amendment No. 2 and Waiver thereto, Amendment No. 3
thereto, Amendment No. 4 and Waiver No. 2 thereto, Waiver No. 3 thereto,
Amendment No. 5 and Waiver No. 4 thereto, Waiver No. 5 thereto and Waiver No. 6
thereto and as otherwise modified and supplemented and in effect immediately
prior to the effectiveness of this Agreement, the “Credit
Agreement”).  The Lenders executing this Agreement on the
signature pages hereto wish now to waive a certain Default under the Credit
Agreement, subject to the terms and provisions of this Agreement, and,
accordingly, the parties hereto hereby agree as follows:

     

    Section
1.  Definitions.  Except
as otherwise defined in this Agreement, terms defined in the Credit Agreement
are used herein as defined therein.

     

    Section
2.  Waiver.  Subject
to the satisfaction of the conditions precedent specified in Section 4
hereof, but effective as of the date hereof, the Administrative Agent, on behalf
of the Lenders, hereby:

     

    (a)  extends,
until 5:00 p.m., New York City time, on July 14, 2009, the waiver set forth
in Section 3(a) of Amendment No. 4 and Waiver No. 2 to the Credit Agreement of
any Default under clause (b) of Article VII of the Credit Agreement that
consists solely of the Borrower or Morris Finance defaulting in the payment when
due of interest due on February 1, 2009 on the 2003 Senior Subordinated Notes
(the “Bond Interest
Payment Default”); and

     

    (b)  waives,
until 5:00 p.m., New York City time, on July 14, 2009, any Default that
consists solely of the Cash Flow Ratio exceeding the applicable amount permitted
under Section 6.06(a) of the Credit Agreement (together with the Bond Interest
Payment Default, the “Specified Defaults”);
provided that such
waivers shall expire upon:

     

     (i)           the
termination or expiry of the Amended Forbearance Agreement referenced below or
the occurrence of any “Forbearance Termination Event” thereunder (as such term
is defined therein);

     

    (ii)           any
amendment, waiver, supplementation or modification of the Amended Forbearance
Agreement (other than Amendment No. 3 to Forbearance Agreement referenced below)
without the consent of the Required Lenders;

     

    (iii)           the
occurrence or continuance of any Default other than a Specified
Default;

     

    (iv)           the
failure of any representation or warranty made in this Agreement to be true and
correct as of the date when made; or

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

     

    
(v)           the
failure by any Obligor to comply with any term, condition, covenant or agreement
contained in this Agreement.

     

    Upon the
expiry of any of the foregoing waivers as provided above, the Administrative
Agent and each Lender shall be entitled to exercise any and all rights and
remedies under the Loan Documents in respect of any Event of Default covered by
such waiver to the extent such Event of Default shall then be
continuing.

     

    Section
3.  Representations and
Warranties.  Each of the Obligors represents and warrants to
the Lenders and the Administrative Agent, as to itself and each of its
subsidiaries, that (i) the representations and warranties set forth in
Article III of the Credit Agreement and in the other Loan Documents are
true and complete as if made on and as of the date hereof (or, if any such
representation or warranty is expressly stated to have been made as of a
specific date, such representation or warranty shall be true and correct as of
such specific date) and (ii) immediately before and after giving effect to this
Agreement, no Default or Event of Default (other than any Specified Default or
any Event of Default arising therefrom) has occurred and is
continuing.

     

    Section
4.  Conditions
Precedent.  The waivers set forth in Section 2 hereof shall
become effective as of the date hereof upon the satisfaction of the following
conditions:

     

    (i)           Execution.  The
Administrative Agent shall have received executed counterparts of this Agreement
from the Obligors and the Required Lenders.

     

    (ii)           Amendment to Forbearance
Agreement.  The Administrative Agent shall have received, in
form and substance satisfactory to it, a duly executed and binding amendment
(“Amendment No. 4 to
Forbearance Agreement”) to the Forbearance Agreement dated as of February
26, 2009 among the Borrower, Morris Finance, the guarantors parties thereto and
holders, or investment advisors or managers of holders, of over 75% of the
principal amount of the outstanding 2003 Senior Subordinated Notes (as amended
by the Amendment to Forbearance Agreement dated as of April 6, 2009, Amendment
No. 2 to Forbearance Agreement dated as of April 23, 2009, Amendment No. 3 to
Forbearance Agreement dated as of May 28, 2009 and Amendment No. 4 to
Forbearance Agreement, the “Amended Forbearance
Agreement”).

     

    (iii)           No
Default.  No Default or Event of Default (other than any
Specified Default or any Event of Default arising therefrom) shall have occurred
and be continuing on the date hereof.

     

    (iv)           Expenses.  The
Borrower shall have paid in full the costs, expenses and fees as set forth in
Section 9.03 of the Credit Agreement (including the reasonable fees, charges and
disbursements of counsel for the Administrative Agent).

     

    Section
5.  Security
Documents.  Each of the Obligors (a) confirms its obligations
under the Security Documents, as applicable, (b) confirms that the obligations
of the Borrower and MCC under the Credit Agreement are entitled to the benefits
of the pledges and guarantees, as applicable, set forth in the Security
Documents, (c) confirms that the obligations of the Borrower and MCC under the
Credit Agreement constitute “Guaranteed Obligations”, “Secured Obligations” and
“Obligations” (as such terms are defined in the Security Documents, as
applicable) and (d) confirms that the Credit Agreement is the “Credit Agreement”
under and for all purposes of the Security Documents.

     

    Section
6.  Miscellaneous.  This
Agreement shall be limited as written and nothing herein shall be deemed to
constitute a waiver of any other term, provision or condition of the Credit
Agreement or any other Loan Document in any other instance than as set forth
herein or prejudice any right or remedy that the Administrative Agent or any
Lender may have or may in the future have under the Credit

     

    Agreement
or any other Loan Document.  Except as herein provided, each of the
Credit Agreement and the other Loan Documents shall remain unchanged and in full
force and effect.  This Agreement may be executed in any number of
counterparts, all of which taken together shall constitute one and the same
amendatory instrument, and any of the parties hereto may execute this Agreement
by signing any such counterpart.  Delivery of an executed counterpart
of a signature page to this Agreement by electronic transmission shall be
effective as delivery of a manually executed counterpart of this
Agreement.  This Agreement shall be governed by, and construed in
accordance with, the law of the State of New York.

     

    
      
        IN
WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
executed and delivered as of the day and year first above written.

         

        
          
            	
                     MORRIS
      PUBLISHING GROUP, LLC

                  
	 
      
	 
      
	
                    By:
      /s/ Craig S. Mitchell

                  
	 
      	
                    Name:
      Craig S. Mitchell

                  
	 
      	
                    Title:
      Senior Vice President of
Finance

                  

          

        

         

         

        
          
            	
                     MORRIS
      COMMUNICATIONS COMPANY, LLC

                  
	 
      
	 
      
	
                    By:
      /s/ Craig S. Mitchell

                  
	 
      	
                    Name:
      Craig S. Mitchell

                  
	 
      	
                    Title:
      Senior Vice President of
Finance

                  

          

        

         

         

        
          
            	
                     MORRIS
      COMMUNICATIONS HOLDING COMPANY,
LLC

                  
	 
      
	 
      
	
                    By:
      /s/ Craig S. Mitchell

                  
	 
      	
                    Name:
      Craig S. Mitchell

                  
	 
      	
                    Title:
      Senior Vice President of
Finance

                  

          

        

         

         

        
          
            	
                     SHIVERS
      TRADING & OPERATING COMPANY

                  
	 
      
	 
      
	
                    By:
      /s/ Craig S. Mitchell

                  
	 
      	
                    Name:
      Craig S. Mitchell

                  
	 
      	
                    Title:
      Senior Vice President of
Finance

                  

          

        

         

         

        
          
            	
                     MPG
      NEWSPAPER HOLDING, LLC

                  
	 
      
	 
      
	
                    By:
      /s/ Craig S. Mitchell

                  
	 
      	
                    Name:
      Craig S. Mitchell

                  
	 
      	
                    Title:
      Senior Vice President of
Finance

                  

          

        

         

        
          
             

          

          
            
              

            

          

          
             

          

        

         

        
          
            	
                    MORRIS
      PUBLISHING FINANCE CO.

                  
	
                    YANKTON
      PRINTING COMPANY

                  
	
                    BROADCASTER
      PRESS, INC.

                  
	
                    THE
      SUN TIMES, LLC

                  
	
                    HOMER
      NEWS, LLC

                  
	
                    LOG
      CABIN DEMOCRAT, LLC

                  
	
                    ATHENS
      NEWSPAPERS, LLC

                  
	
                    SOUTHEASTERN
      NEWSPAPERS COMPANY, LLC

                  
	
                    STAUFFER
      COMMUNICATIONS, INC.

                  
	
                    FLORIDA
      PUBLISHING COMPANY

                  
	
                    THE
      OAK RIDGER, LLC

                  
	
                    MPG
      ALLEGAN PROPERTY, LLC

                  
	
                    MPG
      HOLLAND PROPERTY, LLC

                  
	
                    MCC
      RADIO, LLC

                  
	
                    MCC
      OUTDOOR, LLC

                  
	
                    MCC
      MAGAZINES, LLC

                  
	
                    MCC
      EVENTS, LLC

                  
	
                    HIPPODROME,
      LLC

                  
	
                    BEST
      READ GUIDES FRANCHISE COMPANY, LLC

                  
	
                    MORRIS
      VISITOR PUBLICATIONS, LLC

                  
	
                    BEST
      READ GUIDES OF NEVADA, LLC

                  
	
                    MORRIS
      BOOK PUBLISHING, LLC

                  
	
                    THE
      LYONS PRESS, INC.

                  
	
                    MORRIS
      AIR, LLC

                  
	
                    MCC
      HARBOUR CONDO, LLC

                  
	
                    MCC
      CUTTER COURT, LLC

                  
	
                    MORRIS
      DIGITAL WORKS, LLC

                  
	
                    MSTAR
      SOLUTIONS, LLC

                  
	
                    MVP
      FRANCE, LLC

                  
	
                    MVP
      GLOBAL, LLC

                  
	
                    SOUTHWESTERN
      NEWSPAPERS COMPANY, L.P.

                  
	
                    MCC
      OUTDOOR HOLDING, LLC

                  
	
                    THE
      MAP GROUP, INC.

                  

          

        

         

         

        
          
            	
                    By:
      /s/ Craig S. Mitchell

                  
	 
      	
                    Name:
      Craig S. Mitchell

                  
	 
      	
                    Title:
      Senior Vice President of Finance

                  

          

          

          
            
              
                 

              

              
                
                  

                

              

              
                 

              

            

          

           

          

        

        LENDERS:

         

         

        
          
            	
                    JPMORGAN
      CHASE BANK, N.A.,

                  
	
                    Individually
      and as Administrative Agent

                  
	 
      
	
                    By:
      /s/

                  
	 
      	
                    Name:

                  
	 
      	
                    Title:

                  

          

        

         

         

        
          
            	
                    THE
      BANK OF NEW YORK MELLON,

                  
	 
      
	 
      
	
                    By:
      /s/

                  
	 
      	
                    Name:

                  
	 
      	
                    Title:

                  

          

        

         

         

        
          
            	
                    SUNTRUST
      BANK

                  
	 
      
	 
      
	
                    By:
      /s/

                  
	 
      	
                    Name:

                  
	 
      	
                    Title:

                  

          

        

         

         

        
          
            	
                     WACHOVIA
      BANK, NATIONAL ASSOCIATION,

                  
	 
      
	 
      
	
                    By:
      /s/

                  
	 
      	
                    Name:

                  
	 
      	
                    Title:

                  

          

        

         

         

        
          
            	
                    BANK
      OF AMERICA

                  
	 
      
	 
      
	
                    By:
      /s/

                  
	 
      	
                    Name:

                  
	 
      	
                    Title:

                  

          

          

          
            
              
                 

              

              
                
                  

                

              

              
                 

              

            

          

           

          

        

        
          
            	
                    GENERAL
      ELECTRIC CAPITAL CORP.

                  
	 
      
	 
      
	
                    By:
      /s/

                  
	 
      	
                    Name:

                  
	 
      	
                    Title:

                  

          

        

         

         

        
          
            	
                     US
      BANK, N.A.,

                  
	 
      
	 
      
	
                    By:
      /s/

                  
	 
      	
                    Name:

                  
	 
      	
                    Title:

                  

          

        

         

         

        
          
            	
                    WEBSTER
      BANK, NATIONAL ASSOCIATION,

                  
	 
      
	 
      
	
                    By:
      /s/

                  
	 
      	
                    Name:

                  
	 
      	
                    Title:

                  

          

        

         

         

        
          
            	
                    KEYBANK
      NATIONAL ASSOCIATION,

                  
	 
      
	 
      
	
                    By:
      /s/

                  
	 
      	
                    Name

                  
	 
      	
                    Title:

                  

          

        

         

         

        
          
            	
                    SUMITOMO
      MITSUI BANKING CORPORATION,

                  
	 
      
	 
      
	
                    By:
      /s/

                  
	 
      	
                    Name:

                  
	 
      	
                    Title:

                  

          

        

         

         

        
          
            	
                    COMERICA
      BANK

                  
	 
      
	 
      
	
                    By:
      /s/

                  
	 
      	
                    Name:

                  
	 
      	
                    Title:

                  

            
              
                 

              

              
                
                  

                

              

              
                 

              

            

          

        

         

         

        
          
            	
                    FIRST
      TENNESSEE BANK, NATIONAL ASSOCIATION

                  
	 
      
	 
      
	
                    By:
      /s/

                  
	 
      	
                    Name:

                  
	 
      	
                    Title:

                  

          

        

         

         

        
          
            	
                    MIZUHO

                  
	 
      
	 
      
	
                    By:
      /s/

                  
	 
      	
                    Name:

                  
	 
      	
                    Title:exhibit_amend4forbearagree.htm

    AMENDMENT NO. 4 TO FORBEARANCE
AGREEMENT

     

    This
Amendment No. 4 to Forbearance Agreement (this “Amendment No. 4”),
dated as of June 12, 2009 (the “Amendment Date”), is
entered into by and among Morris Publishing Group, LLC (“MPG”) and Morris
Publishing Finance Co. (“MPF”) (MPG and MPF,
each an “Issuer” and together,
the “Issuers”),
each of the undersigned entities listed as guarantors (collectively, the “Guarantors”), and
each of the undersigned holders of the 7% Senior Subordinated Notes due 2013
Notes (the “Notes”) and/or, to
the extent not signing as a holder, their investment advisors or managers
identified on Annex
A hereto (collectively, the “Holders”).  Each
capitalized term used herein and not otherwise defined herein shall have the
meaning attributed to such term in the Existing Forbearance Agreement (as
defined below).

     

    W
I T N E S S E T H:

     

    WHEREAS, on February 26, 2009,
the Issuers, the Guarantors and the Holders entered into that certain
Forbearance Agreement, dated as of February 26, 2009 (the “February 26 Forbearance
Agreement”), as amended by that certain Amendment to Forbearance
Agreement, dated as of April 6, 2009 (the “April 6 Forbearance
Amendment”), Amendment No. 2 to Forbearance Agreement dated as of April
23, 2009 (the “April
23 Forbearance Amendment”) and Amendment No. 3 to Forbearance Agreement
dated as of May 28, 2009 (the “May 28 Forbearance
Amendment”, and the February 26 Forbearance Agreement, as amended by the
April 6 Forbearance Amendment, the April 23 Forbearance Amendment and the May
28, 2009 Forbearance Amendment, the “Existing Forbearance
Agreement”), pursuant to which the Holders agreed, on the terms and
subject to the conditions set forth therein, to forbear during the Forbearance
Period from taking any Remedial Action under the Indenture and the Notes, and
from directing the Indenture Trustee to exercise any such rights and remedies on
their behalf resulting from the Existing Default and the Payment
Default;

     

    WHEREAS, on May 28, 2009, MPG,
the Credit Parties, certain lenders party thereto, and JPMorgan Chase Bank,
N.A., as administrative agent (the “Administrative
Agent”), entered into that certain Waiver No. 6 (‘Waiver No. 6”),
pursuant to which the Administrative Agent agreed to waive certain defaults
under the Credit Agreement;

     

    WHEREAS, the Morris Companies
have requested that the Holders continue to forbear from taking any Remedial
Action under the Indenture and the Notes, and from directing the Indenture
Trustee to exercise any such rights and remedies on the Holders’ behalf
resulting from the Existing Default or the Payment Default; and

     

    WHEREAS, subject to the terms
and conditions set forth herein, the Holders have agreed to temporarily continue
their forbearance.

     

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

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

       

      SECTION
1. Amendments
to Existing Forbearance Agreement.

    

     

    (a) From and
after the time this Amendment No. 4 becomes effective in accordance with Section 2 hereof, the
definition of “Forbearance Termination Event” in Section 1 of the
Existing Forbearance Agreement shall be amended and restated in its entirety and
shall read as follows:

     

    
      	
               
      

            	
              (a)

            	
              the
      acceleration of the maturity of any obligations under the Credit
      Agreement;

            

    

     

    
      	
               
      

            	
              (b)

            	
              Waiver
      No. 7, dated as of June 12, 2009, by and among MPG, MCC, Morris
      Communications Holding Company, LLC, Shivers Trading & Operating
      Company, MPG Newspaper Holding, LLC, certain subsidiary guarantors party
      thereto, certain lenders party thereto and the Administrative Agent
      (“Waiver No.
      7”), relating to the Credit Agreement and/or the Morris Companies’
      and MCC’s existing senior secured term and revolving credit facilities
      (the “Senior
      Secured Credit Facilities”) shall cease to be effective, whether as
      a result of termination, expiration in accordance with its terms or
      otherwise;

            

    

     

    
      	
               
      

            	
              (c)

            	
              any
      amendment, waiver, supplementation or modification of Waiver No. 6 (except
      as a result of the execution of Waiver No. 7), or, following execution and
      effectiveness of Waiver No. 7,  any amendment, waiver,
      supplementation or modification of Waiver No. 7, in any such case without
      the consent of each of the Holders;

            

    

     

    
      	
               
      

            	
              (d)

            	
              the
      occurrence of a Default or Event of Default under the Indenture other than
      the Existing Default or the Payment
Default;

            

    

     

    
      	
               
      

            	
              (e)

            	
              the
      filing of a bankruptcy case, including, without limitation, a chapter 11
      bankruptcy proceeding, by or with respect to any of the Morris Companies
      or any subsidiary thereof;

            

    

     

    
      	
               
      

            	
              (f)

            	
              the
      breach of, or failure of the Morris Companies to comply with, Section 6(b) of
      this Agreement;

            

    

     

    
      	
               
      

            	
              (g)

            	
              the
      failure of any representation or warranty made by the Morris Companies in
      this Agreement, or any amendments hereto, to be true and correct in all
      material respects as of the date when
made;

            

    

     

    
      	
               
      

            	
              (h)

            	
              the
      failure by the Morris Companies to comply with any term, condition,
      covenant or agreement contained in this Agreement, or any amendments
      hereto; or

            

    

     

    
      	
               
      

            	
              (i)

            	
              5:00
      pm. EDT on July 14, 2009.

            

    

     

    SECTION
2. Conditions to
Effectiveness.  The effectiveness of this Amendment No. 4 shall
be subject to the satisfaction of each of the following conditions:

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

       

      (a) the
Holders representing in the aggregate more than seventy-five (75) percent of the
outstanding principal amount of the Notes shall have executed this Amendment No.
4;

    

     

    (b) MPG, MCC
and the Administrative Agent shall have executed Waiver No. 7, in form and
substance acceptable to each of the Holders, and delivered a copy thereof to
Stroock;

     

    (c) the
Holders shall have received a duly executed counterpart of this Amendment No. 4
from each Morris Company listed on the signature pages hereto;

     

    (d) (1) each
of the representations and warranties made by the Issuers and the Guarantors in
the Indenture, the Existing Forbearance Agreement, the Notes, and any amendments
thereto shall be true and correct in all material respects on and as of the
Amendment Date as though made on and as of such date (unless any such
representation or warranty relates solely to an earlier date, in which case it
shall have been true and correct in all material respects as of such earlier
date); and (2) no Default or Event of Default (except with respect to the
Existing Default and the Payment Default) shall have occurred or be continuing
as of the Amendment Date; and

     

    (e) MPG shall
have paid all outstanding fees and expenses of the Advisors.

     

    SECTION
3. Representations of the
Holders.  Each Holder severally (but not jointly) represents
that, as of the date hereof: (i) it is the beneficial owner and/or investment
advisor or manager of discretionary accounts for the holders or beneficial
owners of the aggregate principal amount of the Notes listed opposite such
Holder’s name on the disclosure schedule attached hereto as Schedule 1; and (ii)
it has the power and authority to execute, deliver and perform this Amendment
No. 4, either on its own behalf or on behalf of such holders or beneficial
owners for which it acts as investment advisor or manager.

     

    SECTION
4. Representations of the
Issuers.  The Morris Companies represent that, as of the date
hereof, since the Forbearance Effective Date, none of the Morris Companies or
their Restricted Subsidiaries has (a) incurred any Liens, other than Permitted
Liens in an aggregate amount not exceeding $10.0 million or as otherwise
required under the Credit Agreement, or

     

    (b)
entered into any transaction that would be prohibited by Section 6(d) of the
Existing Forbearance Agreement (as modified by the April 6 Forbearance
Amendment) if entered into after the effective date of the April 6 Forbearance
Amendment.

     

    SECTION
5. Reference to and Effect Upon the
Existing Forbearance Agreement.

     

    (a) Except as
specifically amended hereby, each of the Issuers, Guarantors and Holders hereby
acknowledge and agree that all terms, conditions, covenants, representations and
warranties contained in the Existing Forbearance Agreement, as amended hereby,
and all rights and obligations of the Issuers, Guarantors and Holders therein,
shall remain in full force and effect.  Each of the Issuers,
Guarantors and Holders hereby confirms that the Existing Forbearance Agreement,
as amended hereby, is in full force and effect and that none of the Issuers,
Guarantors and Holders has any defenses, setoffs, recoupments, offsets, claims
or counterclaims to the obligations under the Existing Forbearance Agreement, as
amended hereby.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

       

      (b) Except as
expressly set forth herein, the execution, delivery and effectiveness of this
Amendment No. 4 shall not directly or indirectly (i) create any obligation to
continue to defer any enforcement action after a Default or Event of Default,
(ii) constitute a consent or waiver of any past, present or future violations of
any provisions of the Existing Forbearance Agreement, as amended hereby or (iii)
amend, modify or operate as a waiver of any provision of the Existing
Forbearance Agreement, as amended hereby.  Except as expressly set
forth herein, each of the Issuers, the Guarantors and the Holders, as
applicable, reserves all of its or their respective rights, powers, and remedies
under the Existing Forbearance Agreement, as amended hereby and/or applicable
law.  All of the provisions of the Existing Forbearance Agreement, as
amended hereby, are hereby reiterated, and if ever waived,
reinstated.

    

     

    SECTION
6. Costs and
Expenses.  The Morris Companies agree to pay on demand all
costs and expenses of the Holders in connection with the preparation, execution
and delivery of this Amendment No. 4, including the reasonable fees, costs and
expenses of Stroock as counsel for the Holders with respect
thereto.

     

    SECTION
7. Execution in
Counterparts.  This Amendment No. 4 may be executed in any
number of counterparts and by different parties hereto in separate counterparts,
each of which when so executed shall be deemed to be an original and all of
which taken together shall constitute one and the same
agreement.  Delivery of an executed signature page to this Amendment
No. 4 by facsimile transmission or otherwise transmitted or communicated by
email shall be as effective as delivery of a manually executed counterpart of
this Amendment No. 4.

     

    SECTION
8. Integration.  The
Existing Forbearance Agreement, as amended by this Amendment No. 4 and any
agreements referred to herein constitute the entire contract among the parties
hereto relating to the subject matter hereof and supersede any and all previous
agreements and understandings, oral or written, relating to the subject matter
hereof, and may not be modified or amended except by a written instrument,
signed by each of the parties hereto, expressing such amendment or modification;
provided, however, that this
Amendment No. 4 is not intended to in any way supersede or contradict the terms
of the confidentiality agreements dated February 17, 2009 between MPG and each
of Stroock and FTI Consulting, Inc.  Upon the effectiveness of this
Amendment No. 4 as set forth in Section 2 hereof,
this Amendment No. 4 shall be binding upon and inure to the benefit of the
parties hereto and, subject to and in accordance with Section 13.10 of the
Indenture, their respective successors.

     

    SECTION
9. Severability.  Wherever
possible, each provision of this Amendment No. 4 shall be interpreted in such a
manner as to be effective and valid under applicable law, but if any provision
of this Amendment No. 4 shall be prohibited by or invalid under applicable law,
such provision shall be ineffective to the extent of such prohibition or
invalidity, without invalidating the remainder of such provision or the
remaining provisions of this Amendment No. 4 or the Existing Forbearance
Agreement.

     

    SECTION
10. Survival.  Each of
the covenants required to be performed by MPG, MCC or the Morris Companies or
any of their respective Affiliates and Subsidiaries in the Existing Forbearance
Agreement (as hereby amended) or this Amendment No. 4 shall remain in full force
and effect until the earlier to occur of (i) the seventh (7th) Business Day (as
defined in the Credit Agreement as of the date hereof) after the date on which
any Forbearance Termination Date shall have occurred, or (ii) the principal of
the Loans (x) is declared to be due and payable or (y) automatically becomes due
and payable, in the case of clause (i) or (ii) above as provided for in Article
VII of the Credit Agreement.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    SECTION
11. Applicable
Law.  This Amendment No. 4 shall be governed by and be
construed and enforced in accordance with, the laws of the State of New York
(including without limitation Section 5-1401 of the New York General Obligations
Law).

     

    SECTION
12. Submission to
Jurisdiction.  EACH OF THE ISSUERS, THE GUARANTORS AND THE
HOLDERS HEREBY IRREVOCABLY SUBMITS TO THE JURISDICTION OF ANY NEW YORK STATE
COURT SITTING IN THE BOROUGH OF MANHATTAN IN THE CITY OF NEW YORK OR ANY FEDERAL
COURT SITTING IN THE BOROUGH OF MANHATTAN IN THE CITY OF NEW YORK IN RESPECT OF
ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THE EXISTING
FORBEARANCE AGREEMENT AS AMENDED HEREBY AND IRREVOCABLY ACCEPTS FOR ITSELF AND
IN RESPECT OF ITS PROPERTY, GENERALLY AND UNCONDITIONALLY, JURISDICTION OF THE
AFORESAID COURTS.  EACH OF THE ISSUERS, THE GUARANTORS AND THE HOLDERS
IRREVOCABLY WAIVES, TO THE FULLEST EXTENT THAT IT MAY EFFECTIVELY DO SO UNDER
APPLICABLE LAW, TRIAL BY JURY AND ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER
HAVE TO THE LAYING OF VENUE OF ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN
ANY SUCH COURT AND ANY CLAIM THAT ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN
ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM.  NOTHING
HEREIN SHALL AFFECT THE RIGHT OF ANY HOLDER TO SERVE PROCESS IN ANY OTHER MANNER
PERMITTED BY LAW OR TO COMMENCE LEGAL PROCEEDINGS OR OTHERWISE PROCEED AGAINST
THE ISSUERS OR ANY GUARANTOR IN ANY OTHER JURISDICTION.

     

    SECTION
13. Headings.  Section
headings in this Amendment No. 4 are included herein for convenience of
reference only and shall not constitute a part of this Amendment No. 4 for any
other purposes.

     

    SECTION
14. Confidentiality.  Each
of the Morris Companies and each Holder (and their respective successors and
assigns) shall not publicly disclose any information provided to them in
connection with this Amendment No. 4, nor shall they publicly disclose Annex A or Schedule 1 to this
Amendment No. 4 (collectively, the “Holder Information”),
except: (1) in any legal proceeding relating to this Amendment No. 4, provided
that the relevant Morris Company and/or Holder, as applicable, shall use its
best efforts to maintain the confidentiality of Holder Information in the
context of any such proceeding; (2) to the extent required by applicable law,
rules, regulations promulgated thereunder, or obligations, including, without
limitation, U.S. federal securities laws, as determined after consultation with
legal counsel; (3) in response to an oral question, interrogatory, request for
information or documents, subpoena, civil investigative demand or other process,
or a request from a government agency, regulatory authority or securities
exchange; (4) that MPG may summarize this Amendment No. 4 in connection with a
Form 8-K filing (in lieu of filing this Amendment No. 4 as an exhibit thereto);
(5) that MPG may include this Amendment No. 4 as an exhibit to the Company’s
Form 10-Q for the second quarter of 2009; provided, however, that MPG
shall not include Annex A or Schedule 1 in any
such filing and shall only disclose Annex A or Schedule 1 if
specifically required to do so by the Securities and Exchange Commission (“SEC”) after taking
all reasonable steps to resist disclosure, including requesting that each of
Annex A and
Schedule 1 be
accorded confidential treatment by the SEC; and (6) that the Morris Companies
may provide a copy of this Amendment No. 4 (which copy shall not include Annex A or Schedule 1) to the
Administrative Agent and the lenders under the Credit Agreement, provided that in the
case of clauses (2), (3) or (5) above, the disclosing party provides notice to
the applicable Holder (promptly upon receipt of the subpoena or request so that
the Holder may seek an appropriate protective order or waive the relevant Morris
Company’s requirement for compliance with this Section 14), unless
such notice would be prohibited by law.  The Morris Companies will not
oppose any reasonable action by the applicable Holder to obtain an appropriate
protective order or other reliable assurance that confidential treatment will be
accorded the Holder Information and the information contained
therein.  If the applicable Holder chooses to oppose the production of
such information, it does so at its own expense.  Responding to any
such subpoena or other request, after providing notice as set forth herein,
shall not be deemed to be a breach of any provision of this Amendment No.
4.  Notwithstanding anything to the contrary in this Section 14, the
Morris Companies may: (i) disclose the aggregate principal amount of Notes held
by the Holders executing this Amendment No. 4, taken as a whole and without
reference to the names of the Holders constituting such amount; and (ii) provide
the Indenture Trustee with the executed copy of this Amendment No. 4 that
includes the individual signature pages of each of the Holders, but only in the
event that the Morris Companies first obtain the Indenture Trustee’s written
consent not to publicly disclose any information relating to the individual
holdings of each Holder.

     

    
      IN
WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly
executed and delivered by their respective officers thereunto duly authorized as
of the date first written above.

       

       

      
        
          	
                   MORRIS
      PUBLISHING GROUP, LLC

                
	 
      
	 
      
	
                  By:
      /s/ Craig S. Mitchell

                
	 
      	
                  Name:
      Craig S. Mitchell

                
	 
      	
                  Title:
      Senior Vice President of
Finance

                

        

      

       

       

      
        
          	
                   MORRIS
      PUBLISHING FINANCE CO.

                
	 
      
	 
      
	
                  By:
      /s/ Craig S. Mitchell

                
	 
      	
                  Name:
      Craig S. Mitchell

                
	 
      	
                  Title:
      Senior Vice President of
Finance

                

        

        
          
             

          

          
            
              

            

          

          
             

          

        

      

       

       

      
        
          	
                   YANKTON
      PRINTING COMPANY

                
	 
      
	 
      
	
                  By:
      /s/ Craig S. Mitchell

                
	 
      	
                  Name:
      Craig S. Mitchell

                
	 
      	
                  Title:
      Senior Vice President of
Finance

                

        

      

       

       

      
        
          	
                   BROADCASTER
      PRESS, INC.

                
	 
      
	 
      
	
                  By:
      /s/ Craig S. Mitchell

                
	 
      	
                  Name:
      Craig S. Mitchell

                
	 
      	
                  Title:
      Senior Vice President of
Finance

                

        

      

       

       

      
        
          	
                   THE
      SUN TIMES, LLC

                
	 
      
	 
      
	
                  By:
      /s/ Craig S. Mitchell

                
	 
      	
                  Name:
      Craig S. Mitchell

                
	 
      	
                  Title:
      Senior Vice President of
Finance

                

        

      

       

       

      
        
          	
                   HOMER
      NEWS, LLC

                
	 
      
	 
      
	
                  By:
      /s/ Craig S. Mitchell

                
	 
      	
                  Name:
      Craig S. Mitchell

                
	 
      	
                  Title:
      Senior Vice President of
Finance

                

        

      

       

       

      
        
          	
                   LOG
      CABIN DEMOCRAT, LLC

                
	 
      
	 
      
	
                  By:
      /s/ Craig S. Mitchell

                
	 
      	
                  Name:
      Craig S. Mitchell

                
	 
      	
                  Title:
      Senior Vice President of
Finance

                

        

      

      
        
           

        

        
          
            

          

        

        
           

        

      

       

      
        
          	
                  ATHENS
      NEWSPAPER, LLC

                
	 
      
	 
      
	
                  By:
      /s/ Craig S. Mitchell

                
	 
      	
                  Name:
      Craig S. Mitchell

                
	 
      	
                  Title:
      Senior Vice President of
Finance

                

        

      

       

       

      
        
          	
                   SOUTHEASTERN
      NEWSPAPERS COMPANY, LLC

                
	 
      
	 
      
	
                  By:
      /s/ Craig S. Mitchell

                
	 
      	
                  Name:
      Craig S. Mitchell

                
	 
      	
                  Title:
      Senior Vice President of
Finance

                

        

      

       

       

      
        
          	
                   STAUFFER
      COMMUNICATIONS, INC.

                
	 
      
	 
      
	
                  By:
      /s/ Craig S. Mitchell

                
	 
      	
                  Name:
      Craig S. Mitchell

                
	 
      	
                  Title:
      Senior Vice President of
Finance

                

        

      

       

       

      
        
          	
                   FLORIDA
      PUBLISHING COMPANY

                
	 
      
	 
      
	
                  By:
      /s/ Craig S. Mitchell

                
	 
      	
                  Name:
      Craig S. Mitchell

                
	 
      	
                  Title:
      Senior Vice President of
Finance

                

        

      

       

       

      
        
          	
                   SOUTHWESTERN
      NEWSPAPERS COMPANY, L.P.

                
	 
      
	 
      
	
                  By:
      /s/ Craig S. Mitchell

                
	 
      	
                  Name:
      Craig S. Mitchell

                
	 
      	
                  Title:
      Senior Vice President of
Finance

                

        

        
          
             

          

          
            
              

            

          

          
             

          

        

       

      
        
          	
                   THE
      OAK RIDGER, LLC

                
	 
      
	 
      
	
                  By:
      /s/ Craig S. Mitchell

                
	 
      	
                  Name:
      Craig S. Mitchell

                
	 
      	
                  Title:
      Senior Vice President of
Finance

                

        

      

       

       

      
        
          	
                   MPG
      ALLEGAN PROPERTY, LLC

                
	 
      
	 
      
	
                  By:
      /s/ Craig S. Mitchell

                
	 
      	
                  Name:
      Craig S. Mitchell

                
	 
      	
                  Title:
      Senior Vice President of
Finance

                

        

      

       

       

      
        
          	
                  MPG
      HOLLAND PROPERTY, LLC

                
	 
      
	 
      
	
                  By:
      /s/ Craig S. Mitchell

                
	 
      	
                  Name:
      Craig S. Mitchell

                
	 
      	
                  Title:
      Senior Vice President of
Finance

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00162-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00162-of-00352.parquet"}]]