SEC Contract Filing

Filing Date: 2016-02-22

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>ex1032222016.htm
<DESCRIPTION>EXHIBIT 10.3
<TEXT>
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<a name="s2344A42FAF475381448CF5481EBD824F"></a><div></div><br><div style="line-height:120%;text-align:justify;padding-left:174px;text-indent:48px;"><hr></div><div style="line-height:120%;padding-bottom:32px;text-align:right;padding-left:174px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;text-decoration:underline;">Exhibit 10.3</font></div><div style="line-height:120%;text-align:right;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">EXECUTION COPY</font></div><div style="line-height:120%;padding-bottom:32px;text-align:justify;padding-left:174px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-bottom:32px;text-align:justify;padding-left:174px;text-indent:48px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">SECOND AMENDMENT, dated as of February 19, 2016 (this &#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Amendment</font><font style="font-family:inherit;font-size:10pt;">&#8221;), to the CREDIT AGREEMENT, dated as of November 14, 2014, as amended by the First Amendment, dated as of March 9, 2015 (as further amended, supplemented or otherwise modified prior to the date hereof, the &#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Existing Credit Agreement</font><font style="font-family:inherit;font-size:10pt;">&#8221;), among CENTRAL EUROPEAN MEDIA ENTERPRISES LTD., an exempted limited company incorporated under the laws of Bermuda (&#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Borrower</font><font style="font-family:inherit;font-size:10pt;">&#8221;), TIME WARNER INC., a Delaware corporation (&#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Guarantor</font><font style="font-family:inherit;font-size:10pt;">&#8221;), the several banks and other financial institutions from time to time party thereto (the &#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Lenders</font><font style="font-family:inherit;font-size:10pt;">&#8221;) and BNP PARIBAS, as administrative agent (the &#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Administrative Agent</font><font style="font-family:inherit;font-size:10pt;">&#8221;).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WHEREAS, the Lenders under the Existing Credit Agreement (for purposes of this Amendment, herein called the &#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">Original Lenders</font><font style="font-family:inherit;font-size:10pt;">&#8221;) have agreed to extend credit to Borrower under the Existing Credit Agreement in the form of outstanding Loans in an aggregate principal amount of &#8364;250,800,000 on the terms and subject to the conditions set forth therein;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WHEREAS, Guarantor and the Subsidiary Guarantors have entered into the Guarantee in connection with the Existing Credit Agreement;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WHEREAS, Borrower has requested that the Original Lenders (a) extend the maturity of the Loans and (b) effect certain other amendments to the Existing Credit Agreement as set forth herein; </font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WHEREAS, Borrower has requested that, immediately upon the effectiveness of the amendments referred to above on the Second Amendment Effective Date (as defined below), the Original Lenders reallocate their Credit Exposure with respect to the Loans to each Person executing this Amendment as a &#8220;New Lender&#8221; (for purposes of this Amendment, each herein called a &#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">New Lender</font><font style="font-family:inherit;font-size:10pt;">&#8221;), and that the New Lenders accept such reallocation from the Original Lenders, such that, following such reallocation, the Credit Exposure of all Lenders under the Credit Agreement (as defined below) shall be equally allocated on a pro rata basis;</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:96px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">WHEREAS, (i) Borrower will enter into the First Amendment, dated as of February 19, 2016 (the &#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">First Amendment</font><font style="font-family:inherit;font-size:10pt;">&#8221;), to the Credit Agreement, dated as of September 30, 2015 (as amended, the &#8220;</font><font style="font-family:inherit;font-size:10pt;text-decoration:underline;">2015 Third Party Credit Agreement</font><font style="font-family:inherit;font-size:10pt;">&#8221;), among Borrower, Guarantor, the several banks and other financial institutions from time to time party thereto and BNP Paribas, as administrative agent, in order to effect certain amendme