SEC Contract Filing

Filing Date: 2019-12-04

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ex_166534.htm
<DESCRIPTION>EXHIBIT 10.1
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<p style="margin-bottom: 0px; text-align: right; margin-top: 0px"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt"><b>Exhibit 10.1</b></font></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><u><b>AMENDING AGREEMENT NO. 1</b></u><u><b>&nbsp;</b></u></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>THIS AMENDING AGREEMENT NO. 1</b> (this &#8220;<u><b>Amending Agreement</b></u>&#8221;) is made as of November 27, 2019.</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>WHEREAS:</b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reference is made to the amended and restated senior secured credit agreement (the &#8220;<u><b>Credit Agreement</b></u>&#8221;) dated as of June 14, 2019 between, <i>inter alios</i>, Tucows.com Co., Tucows (Delaware) Inc., Ting Inc., Ting Fiber, Inc., Tucows (Emerald), LLC, as borrowers (collectively, the &#8220;<u><b>Borrower</b></u><u><b>s</b></u>&#8221; and each a &#8220;<u><b>Borrower</b></u>&#8221;), Tucows Inc., as parent (the &#8220;<u><b>Parent</b></u>&#8221;), Royal Bank of Canada, as administrative agent (the &#8220;<u><b>Agent</b></u>&#8221;), and the financial institutions party thereto, as lenders (the &#8220;<u><b>Lenders</b></u>&#8221;).</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Borrowers, the Parent, the Agent and the Lenders wish to amend the Credit Agreement on the terms and conditions set out herein, including (i) to amend the definition of &#8220;Funded Debt&#8221; to exclude operating lease liabilities (both current and long-term); and (ii) to exclude from the calculation of the amounts specified in clauses (ii) and (iii) of subparagraph (a) in the definition of &#8220;Permitted Acquisition&#8221; the consideration payable by the Borrowers (or their applicable Subsidiaries) in connection with the proposed Acquisition of Cedar Holdings DBA as Cedar Networks and MyDurango.net (&#8220;<u><b>Cedar</b></u>&#8221;) (such Acquisition, the &#8220;<u><b>Cedar Acquisition</b></u>&#8221;).</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>NOW THEREFORE THIS AGREEMENT WITNESSES</b> that, in consideration of the mutual covenants and agreements contained in this Amending Agreement and for other good and valuable consideration, the receipt and sufficiency of which are acknowledged, the parties hereto agree as follows:</p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;text-transform:uppercase;"><b>Article 1<br>
INTERPRETATION</b></p>

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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:justify;"><b>1.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Defined Terms</b>. In this Amending Agreement, unless something in the subject matter or context is inconsistent:</p>

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 <p style="font-family:'Times New Roman', Times, serif;margin-right:0pt;margin-top:0pt;text-align:justify;margin-bottom:0pt;font-size:10pt;">terms defined in the description of the parties or in the recitals have the respective meanings given to them in the description or recitals, as applicable; and</p>
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