SEC Contract Filing

Filing Date: 2021-01-28

Document Content:
<DOCUMENT>
<TYPE>EX-10.5
<SEQUENCE>9
<FILENAME>tm214009d1_ex10-5.htm
<DESCRIPTION>EXHIBIT 10.5
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.5</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>EXECUTION VERSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>AMENDMENT NO. 4</U></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>TO FIRST LIEN CREDIT AGREEMENT</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 40.5pt">This <B>AMENDMENT
NO. 4 TO FIRST LIEN CREDIT AGREEMENT</B>, dated as of January 27, 2021 (this &ldquo;<B><I>Amendment</I></B>&rdquo;), is by and
among <B>TELIGENT, INC.</B>, a Delaware corporation (the &ldquo;<B><I>Borrower</I></B>&rdquo;), the other Credit Parties signatory
hereto, the lenders from time to time party hereto (each a &ldquo;<B><I>Lender</I></B>&rdquo; and, collectively, the &ldquo;<B><I>Lenders</I></B>&rdquo;),
<B>ACF FINCO I LP</B>, a Delaware limited partnership, as administrative agent and collateral agent for the Lenders (in such capacity,
together with its successors and assigns in such capacity, the &ldquo;<B><I>Administrative Agent</I></B>&rdquo;). For purposes
of this Amendment, all terms used herein which are not otherwise defined herein, including but not limited to those terms used
in the recitals hereto, shall have the respective meanings assigned thereto in the Amended Credit Agreement (as defined below).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 40.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 40.5pt"><B>WHEREAS</B>, the
Administrative Agent, Lenders, Borrower and other Credit Parties have entered into financing arrangements pursuant to which the
Lenders (or Administrative Agent on behalf of the Lenders) have made and shall make Loans and provide other financial accommodations
to Borrower as set forth in (i) the First Lien Revolving Credit Agreement, dated as of December 13, 2018, as amended by that certain
Consent and Amendment No. 1 to First Lien Credit Agreement, dated as of October 31, 2019, as amended by that certain Amendment
No. 2 to First Lien Credit Agreement, dated as of April 6, 2020 and effective as of December 31, 2019, and as amended by that certain
Amendment No. 3 to First Lien Credit Agreement, dated as of July 20, 2020 (as in effect prior to the effectiveness of this Amendment,
the &ldquo;<B><I>Credit Agreement</I></B>&rdquo;, and as the same is further amended by this Amendment and as may be further amended,
restated, supplemented or otherwise modified from time to time, the &ldquo;<B><I>Amended Credit Agreement</I></B>&rdquo;), by and
among the Administrative Agent, Lenders, Borrower and other Credit Parties and (ii) the other Credit Documents, including, without
limitation, this Amendment;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 40.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 40.5pt"><FONT STYLE="font-size: 10pt"><B>WHEREAS</B>,
the Borrower has informed the Administrative Agent and the Lenders that certain Events of Default have occurred as set forth in
detail on <U>Annex V</U> attached hereto (such Events of Default are hereinafter referred to as the &ldquo;<B><I>Specified Defaults</I></B>&rdquo;);</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 0; text-align: justify"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 40.5pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 40.5pt"><FONT STYLE="font-size: 10pt"><B>WHEREAS</B>,
the Borrower and the Third Lien Noteholders desire that on or about January 27, 2021, the Third Lien Noteholders will exchange
100% of the Third Lien Convertible Notes for Capital Stock of the Borrower in the form of common stock and preferred stock (the
 &ldquo;<B><I>Third Lien Exchange</I></B>&rdquo;);</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 40.5pt"><FONT STYLE="font-size: 10pt"><B>WHEREAS,
</B>concurrently with the Third Lien Exchange, the Borrower, the Second Lien Lenders and Second Lien Agent have agreed upon a
restructuring of the Second Lien Indebtedness whereby (a) a portion of the Term Loans (as defined in the Second Lien Credit Agreement)
constituting interest that was paid in kind thereon in accordance with Section 2.08(f) of the Second Lien Credit Agreement in
the principal amount of $24,549,952.45 will be converted into an aggregate of 85,411.93 Series D Preferred Stock of the Borrower
to be issued to the Second Lien Lenders pursuant to that certain Exchange Agreement, dated as of the date hereof, by and among
the Borrower, the Second Lien Lenders and the Third Lien Noteholders signatory thereto (the &ldquo;<B><I>Exchange Agreemen