SEC Contract Filing

Filing Date: 2024-11-07

Document Content:
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<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>d862436dex102.htm
<DESCRIPTION>EX-10.2
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<TITLE>EX-10.2</TITLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.2 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Execution Version </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">AMENDMENT NO. 1 TO ABL CREDIT AGREEMENT </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">THIS AMENDMENT NO. 1 TO ABL CREDIT AGREEMENT (this &#147;<U>Amendment</U>&#148;), dated as of November&nbsp;6, 2024, is entered into by and
among IHEARTMEDIA CAPITAL I, LLC (&#147;<U>Holdings</U>&#148;),<B> </B>IHEARTCOMMUNICATIONS, INC., as the Borrower (the &#147;<U>Borrower</U>&#148;), each other Loan Party party hereto, the Lenders party hereto and BANK OF AMERICA, N.A., as
administrative agent (in such capacity, the &#147;<U>Administrative Agent</U>&#148;). </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>RECITALS </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">WHEREAS, reference is made to that certain ABL Credit Agreement, dated as of May&nbsp;17, 2022 (as amended, supplemented or otherwise
modified, renewed or replaced from time to time prior to the date hereof, the &#147;<U>Credit Agreement</U>&#148;, and the Credit Agreement as amended by this Amendment, the &#147;<U>Amended Credit Agreement</U>&#148;; capitalized terms used herein
but not defined herein shall have the meanings ascribed to such terms in the Credit Agreement or the Amended Credit Agreement, as the context may require), among Holdings, the Borrower, the other Loan Parties party thereto from time to time, the
Lenders party thereto from time to time and BANK OF AMERICA, N.A., as Administrative Agent, Swingline Lender and an L/C Issuer; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">WHEREAS,
the Borrower is party to that certain Transaction Support Agreement, dated as of the date hereof (the &#147;<U>TSA</U>&#148;), among Holdings, the Borrower, iHeartMedia, Inc. (&#147;<U>Parent</U>&#148;), each other Subsidiary of the Borrower party
thereto and the other parties thereto; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">WHEREAS, pursuant to the TSA, the Borrower shall cause either (i)&nbsp;the Comprehensive
Transaction (as defined in the TSA, the &#147;<U>Comprehensive Transaction</U>&#148;) or (ii)&nbsp;the Alternative Transaction (as defined in the TSA, the &#147;<U>Alternative Transaction</U>&#148; and, together with the Comprehensive Transaction,
the &#147;<U>Transaction</U>&#148;) to be consummated; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">WHEREAS, the Borrower has requested that the Lenders consent to the applicable
Transaction and agree to make certain additional changes to the Credit Agreement, and the Lenders party hereto (who, for the avoidance of doubt, constitute Required Lenders) hereby, subject to the conditions set forth in
<U>Section</U><U></U><U>&nbsp;2</U>, grant such consent and agree to make such additional changes, in each case in accordance with the terms of this Amendment and Section&nbsp;10.01 of the Credit Agreement; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, in consideration of the mutual covenants and agreements contained in this Amendment and for other good and valuable
consideration, the sufficiency and receipt of which are hereby acknowledged, the parties hereto hereby agree as follows: </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">1.&#8195;<U>Amendments to Credit Agreement</U>. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a)&#8195;<U>Transaction Consent</U>. Upon the occurrence of the Subsequent First Amendment Effective Date (as defined below),
in the event that the Alternative Transaction is effectuated, the Required Lenders hereby consent and agree that entering into and the consummation of the Alternative Transaction on or about the Subsequent First Amendment Effective Date by Holdings
and/or one or more of its direct or indirect Subsidiaries shall not be prohibited by Sections 6.14, 6.18, 7.01, 7.02, 7.03, 7.04, 7.05 and 7.08 of the Credit Agreement; <U>provided</U> that the exceptions to such Sections provided for under Sections
7.02(n), (v) and (z)&nbsp;of the Credit Agreement shall be deemed to have been utilized in full by Investments made in connection with the Alternative Transaction upon the occurrence of the Subsequent First Amendment Effective Date. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b)&#8195;<U>Additional Amendments</U>. The parties to this Amendment agree
that upon the satisfaction of the conditions set forth in <U>Section</U><U></U><U>&nbsp;2(b)</U>: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i)&#8195;<U>Comprehensive Transaction</U>. Solely in the event that the Borrower consummates the