Mortgaged Properties

EX-10.1(B) 26 dex101b.htm AMENDMENT NO. 1 AND AGREEMENT DATED AS OF FEBRUARY 29, 2004 Amendment No. 1 and Agreement dated as of February 29, 2004

Exhibit 10.1b

 

AMENDMENT NO. 1 AND AGREEMENT dated as of February 29, 2004 (this “Amendment”), with respect to the Credit Agreement dated as of February 10, 2004 (the “Credit Agreement”), among Atlantic Broadband Finance, LLC, a Delaware limited liability company (“Borrower”), Atlantic Broadband Holdings I, LLC (“Holdings”), the Subsidiary Guarantors listed on the signature pages thereto, the several lenders from time to time party thereto (the “Lenders”), Merrill Lynch & Co., Merrill Lynch, Pierce, Fenner & Smith Incorporated as Sole Lead Arranger and Book Runner (in such capacity, the “Arranger”), Merrill Lynch, Pierce, Fenner & Smith Incorporated and General Electric Capital Corporation as Co-Syndication Agents (in such capacity, the “Co-Syndication Agents”), General Electric Capital Corporation as Documentation Agent (in such capacity the “Documentation Agent”), Credit Lyonnais New York Branch as Agent and Société Générale as Administrative Agent for the Lenders (in such capacity, the “Administrative Agent”).

 

A. Pursuant to the Credit Agreement, the Lenders have agreed to extend credit to the Borrower pursuant to the terms and conditions set forth therein.

 

B. The Credit Parties have requested that the Arranger, Administrative Agent and Required Lenders agree to amend certain provisions of the Credit Agreement as set forth herein.

 

C. The Arranger, Administrative Agent and Required Lenders are willing to so agree and to amend the Credit Agreement pursuant to the terms and subject to the conditions set forth herein.

 

D. Capitalized terms used and not otherwise defined herein shall have the meanings ascribed to them in the Credit Agreement.

 

In consideration of the premises and the agreements, provisions and covenants contained herein, the parties hereto hereby agree, on the terms and subject to the conditions set forth herein, as follows:

 

SECTION 1. Amendment to subsection 6.01(g). Subsection 6.1(g) is hereby amended by deleting the phrase “identified on Schedule 6.1(a).”

 

SECTION 2. Amendment to subsection 6.1(h). Subsection 6.1(h) is hereby amended by inserting, in front of the words “The Administrative Agent shall have,” on the first line thereof, “Except with respect to the Real Properties listed on Schedule 7.10,”

 

SECTION 3. Amendment to subsection 6.1(i). Subsection 6.1(i) is hereby amended by (a) deleting clause (ii) thereof in its entirety and replacing it with “except with respect to Real Properties listed on Schedule 7.10, an opinion of such other local counsel in Florida, Maryland, New York, Pennsylvania and West Virginia in the form of Exhibit L-2 or otherwise in form and substance reasonably satisfactory to the Administrative Agent and the Arranger and,” (b) inserting the word “and” before clause (vi) and (c) deleting the “and (vii) a Survey with respect to such Mortgaged Property.” at the end of such subsection.


SECTION 4. Amendment to subsection 7.10. Subsection 7.10 is hereby amended by deleting it in its entirety and replacing it with:

 

“Post-Closing Collateral Matters. (a) Within 30 days after the Closing Date, the applicable Credit Parties shall obtain and deliver to the Administrative Agent (to the extent such items have not been provided as of the Closing Date) with respect to each of the Real Properties listed on Schedule 7.10, the following:

 

(i) a duly executed and acknowledged Mortgage, together with such certificates, affidavits, questionnaires, instruments or returns and financing statements meeting the requirements of subsections 6.1(h)(i) and 6.1(h)(ii);

 

(ii) policies or certificates of insurance as required by subsection 6.1(h)(iii);

 

(iii) evidence reasonably acceptable to the Administrative Agent of payment of all applicable mortgage recording taxes, fees, charges, costs and expenses required for the recording of such Mortgage;

 

(iv) a Title Policy;

 

(v) such consents, approvals, estoppels, tenant subordination agreements or other instruments as required by subsection 6.1(h)(vi); and

 

(vi) an opinion of local counsel in the state in which the applicable Real Property is located in the form of Exhibit L-2 or otherwise in form and substance reasonably satisfactory to the Administrative Agent and the Arranger.

 

(b) Within 60 days after the Closing Date, the applicable Credit Parties shall obtain and deliver to the Administrative Agent a Survey with respect to each of the Mortgaged Properties. Upon obtaining said Survey, the applicable Credit Party shall cause to be delivered endorsements to the Title Policy delivered pursuant to subsection 7.10(a)(iv) above, removing the customary survey exceptions therein, providing the comprehensive and survey endorsements thereto as well as any other endorsements set forth in subsection 6.1(h)(v) which were omitted as a result of the applicable Credit Parties failure to obtain a Survey contemporaneously with said Title Policy, within ten (10) Business Days after the delivery of said Survey.

 

(c) Within 45 days after the Closing Date, the applicable Credit Parties shall use commercially reasonable efforts to obtain a subordination, non-disturbance and attornment agreement for each of the leaseholds of the applicable Credit Parties located at 162 Forman Landing Lane, Wye Mills, MD 21679 and 1960 Normandy Drive, Miami Beach, FL from all mortgagees or beneficiaries, as applicable, of the fee interest of such properties, on the Administrative Agent’s standard form or such other form reasonably satisfactory to the Administrative Agent.

 

(d) To the extent that any legal description contained in any leasehold Mortgages delivered to the Administrative Agent on or about the Closing Date prove incorrect (as indicated in any Survey, title commitment or title update subsequently provided), the applicable


Credit Parties shall cooperate, at their own cost and expense, in the amendment of any legal description to any such leasehold Mortgage or title insurance policy in respect thereof.

 

(e) Within 60 days after the Closing Date, the applicable Credit Party shall cause the Title Policy delivered as of the Closing Date with respect to the Real Property located at 120 Southmont Boulevard, Johnstown, PA to be amended to add to the insured property thereunder the legal description of parcel 1 contained in Exhibit A to the Mortgage (“Parcel 1”) encumbering such Real Property (the “Southmont Boulevard Mortgage”) executed and delivered to the Administrative Agent as of the Closing Date, and in connection therewith, the applicable Credit Party shall cause (i) a Title Policy (or an amendment to such existing Title Policy with respect to he Southmont Boulevard Mortgage) to be issued in favor of the Administrative Agent with respect to Parcel 1 and (ii) cause all of the other conditions set forth in subsection 7.10(a) and 7.10(b) to be satisfied with respect Parcel 1. In the event that the legal description contained in the Southmont Boulevard Mortgage is incorrect based on the title commitment to be issued within 60 days after the Closing Date with respect thereto, the applicable Credit Party shall cooperate with the Administrative Agent, at the Credit Party’s sole cost and expense, to amend the Southmont Boulevard Mortgage to correct such legal description.

 

SECTION 5. Amendment to Schedules.

 

(a) Schedule 5.13 is hereby amended by deleting it in its entirety and replacing it with Annex A attached hereto.

 

(b) Schedule 5.23 is hereby amended by deleting the references to Great Valley, Little Valley Town, Little Valley Village, Salamanca City and Salamanca Town, each in the State of New York.

 

(c) Schedule 7.10 is hereby amended by deleting it in its entirety and replacing it with Annex B attached hereto.

 

SECTION 6. Credit Agreement. Except as specifically provided hereby, the Credit Agreement shall continue in full force and effect in accordance with the provisions thereof as in existence on the date hereof. After the date hereof, any reference to the Credit Agreement in any Credit Document shall mean the Credit Agreement as modified hereby. This Amendment shall be a Credit Document for all purposes.

 

SECTION 7. Applicable Law. This Amendment shall be governed by, and be construed in accordance with, the laws of the State of New York.

 

SECTION 8. Counterparts. This Amendment may be executed in two or more counterparts, each of which shall constitute an original but all of which when taken together shall constitute one contract. Delivery of an executed signature page of this Amendment by facsimile transmission shall be effective as delivery of a manually executed counterpart hereof.


SECTION 9. Headings. The Section headings used herein are for convenience of reference only, are not part of this Amendment and are not to affect the construction of, or to be taken into consideration in interpreting, this Amendment.


IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by their respective authorized officers as of the day and year first written above.

 

ATLANTIC BROADBAND FINANCE, LLC

By:

 

/s/    Patrick Bratton


   

Name: Patrick Bratton

   

Title: Chief Financial Officer


ATLANTIC BROADBAND HOLDINGS I, LLC

By:

 

/s/    Patrick Bratton


   

Name: Patrick Bratton

   

Title: Chief Financial Officer


ATLANTIC BROADBAND MANAGEMENT, LLC

ATLANTIC BROADBAND (MIAMI), LLC

ATLANTIC BROADBAND (DELMAR), LLC

ATLANTIC BROADBAND (PENN), LLC

ATLANTIC BROADBAND FINANCE, INC.

By:

 

/s/    Patrick Bratton


   

Name: Patrick Bratton

   

Title: Chief Financial Officer


MERRILL LYNCH & CO.,

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED,

   

As Sole Lead Arranger and Book Runner

By:

 

/s/    Cécile Baker


   

Name: Cécile Baker

   

Title: Director

MERRILL LYNCH CAPITAL CORPORATION

By:

 

/s/    Cécile Baker


   

Name: Cécile Baker

   

Title: Vice President


SOCIÉTÉ GÉNÉRALE,
Individually and as Administrative Agent

By:

 

/s/    Mark K. Vigil


   

Name: Mark K. Vigil

   

Title:   Managing Director

 


GENERAL ELECTRIC CAPITAL CORPORATION

By:

 

/s/    Molly S. Furgusson


   

Name: Molly S. Furgusson

   

Title:   Duly Authorized Signatory


CREDIT LYONNAIS NEW YORK BRANCH Individually and as Agent

By:

 

/s/    Stephane Ducroizet


   

Name: Stephane Ducroizet

   

Title:   Vice President


COÖPERATIEVE CENTRALE RAIFFEISEN-BOERENLEENBANK B.A.,
“RABOBANK NEDERLAND”, NEW YORK BRANCH

By:

 

/s/    Douglas W. Zylstra


   

Name: Douglas W. Zylstra

   

Title:   Senior Vice President

By:

 

/s/    Brett Delfino


   

Name: Brett Delfino

   

Title:   Executive Director


CIT LENDING SERVICES CORPORATION

By:

 

/s/    Michael V. Monahan


   

Name: Michael V. Monahan

   

Title:   Vice President


Annex A

 

Schedule 5.13 - Fee Properties, Leased Properties, Other Properties and

Mortgaged Properties

 

SYSTEM

AREA


  

ADDRESS


  

FEE,

LEASED OR

OTHER REAL
PROPERTY


  

MORTGAGED
PROPERTY
AT CLOSING
DATE

YES OR NO


Altoona, PA

  

736 Colonel Drake Highway

Ashville, PA 16635

  

Other Real Property

  

No

Altoona, PA

  

232 Old Rt. 220 S.

Duncansville, PA 16635

  

Other Real Property

  

No

Altoona, PA

  

2201-03 Beale Avenue

Altoona, PA 16602

  

Other Real Property

  

No

Altoona, PA

  

Portion of vacated 22nd St and 2133-35

Beale Avenue

Altoona, PA 16602

  

Other Real Property

  

No

Altoona, PA

  

2220 Beale Avenue

Altoona, PA 16602

  

Other Real Property

  

No

Altoona, PA

  

2200 Beale Avenue

Altoona, PA 16601

  

Fee Property

  

Yes

Altoona, PA

  

Bunny Hop Road

Claysburg, PA 16625

  

Fee Property

  

No

Bradford, PA

  

24 Main Street

Bradford, PA 16701

  

Leased Property

  

No

Bradford, PA

  

2 Fernwood Drive

Bradford, PA 16701

  

Fee Property

  

No

Clearfield, PA

  

313 1/2 E. Cherry St.

Clearfield, PA 16830

  

Leased Property

  

No

Clearfield, PA

  

Mapes Avenue

Clearfield, PA 16830

  

Other Real Property

  

No

Cumberland, MD

  

202 South Mechanic Street

Cumberland, MD 21502

  

Other Real Property

  

No

Cumberland, MD

  

212 South Mechanic Street

Cumberland, MD 21502

  

Other Real Property

  

No

Cumberland, MD

  

Dan’s Mountain

Cumberland, MD 21502

  

Other Real Property

  

No

Cumberland, MD

  

Dan’s Mountain

  

Other Real Property

  

No

Cumberland, MD

  

19 Harrison Street

Cumberland, MD 21502

  

Other Real Property

  

No

Cumberland, MD

  

13-15 Harrison Street

Cumberland, MD 21502

  

Other Real Property

  

No

Cumberland, MD

  

21 Harrison Street

Cumberland, MD 21502

  

Other Real Property

  

No

Cumberland, MD

  

Route 28

Springfield, WV 26763

  

Other Real Property

  

No

Cumberland, MD

  

Cacapon Mountain Top

  

Other Real Property

  

No

Cumberland, MD

  

Parking lot adjacent to: 201 South Mechanic Street

Cumberland, MD 21502

  

Other Real Property

  

No

Cumberland, MD

  

Near sewage lagoon off of S. Church Street,

Sudlersville, MD

  

Other Real Property

  

No


SYSTEM
AREA


  

ADDRESS


  

FEE,
LEASED OR

OTHER REAL
PROPERTY


  

MORTGAGED
PROPERTY
AT CLOSING
DATE

YES OR NO


Cumberland, MD

  

201 South Mechanic Street

Cumberland, MD 21502

  

Fee Property

  

Yes

Cumberland, MD

  

12505 Moores Hollow Road

Cumberland, MD 21502

  

Fee Property

  

Yes

Cumberland, MD

  

Cacapon Mountain Top

Ridge, WV

  

Fee Property

  

Yes

Cumberland, MD

  

Mountain Top

Ridge, WV

  

Leased Property

  

No

Davis, WV

  

Corner 7th & Fairfax

Davis, WV 26260

  

Fee Property

  

Yes

Derry, PA

  

80 Forest Edge Lane,

Lewiston, PA

  

Fee Property

  

No

Grant Town, WV

  

320 Main Street

Grant Town, WV 26574

  

Other Real Property

  

No

Grant Town, WV

  

Monumental Rd.

Grant Town, WV 26574

  

Leased Property

  

No

Johnstown, PA

  

393 Wertz Road

Johnstown, PA 15906

  

Fee Property

  

Yes

Johnstown, PA

  

120 Southmont Blvd.

Johnstown, PA 15905

  

Fee Property

  

Yes

Johnstown, PA

  

202 Ebensburg Rd.

Johnstown, PA 15906

  

Other Real Property

  

No

Johnstown, PA

  

200 Ebensburg Rd.

Johnstown, PA 15906

  

Other Real Property

  

No

Johnstown, PA

  

198 Ebensburg Rd.

Johnstown, PA 15906

  

Other Real Property

  

No

Johnstown, PA

  

114 5th St. A

Jerome, PA 15937

  

Other Real Property

  

No

Johnstown, PA

  

690 Dishong Rd.

Johnstown, PA 15906

  

Other Real Property

  

No

Kingwood, WV

  

375 Quaker Church Road

Perryopolis, PA 15473

  

Other Real Property

  

No

Kingwood, WV

  

Windy Hill Road

Lamberton, PA 15452

  

Other Real Property

  

No

Kingwood, WV

  

771 South 88 Road

Carmichaels, PA 15320

  

Other Real Property

  

No

Kingwood, WV

  

RD #3, Box 140

Smithfield, PA 15478

  

Other Real Property

  

No

Kingwood, WV

  

107-1/2 B Pleasant Ave.

Kingswood, WV 26537

  

Other Real Property

  

No

Kingwood, WV

  

Play Ford Avenue

Brownsville, PA 15417

  

Other Real Property

  

No

Kingwood, WV

  

Rte. 7 East

Caldwell Mountain

Kingwood, WV 26537

  

Fee Property

  

Yes

Kingwood, WV

  

1309 Point Marion Road

Morgantown, WV 28508

  

Other Real Property

  

No

Maryland/Delaware

  

A portion of 320 Drummer Drive

Grasonville, MD 21638

  

Other Real Property

  

No

Maryland/Delaware

  

162 Forman Landing Lane

Wye Mills, MD 21679

  

Leased Property

  

Yes

Maryland/Delaware

  

29600 Tarbutton Mill Road

Trappe, MD 21763

  

Leased Property

  

No

Maryland/Delaware

  

800 High Street

Chestertown, MD

  

Leased Property

  

No


SYSTEM
AREA


  

ADDRESS


  

FEE,

LEASED OR

OTHER REAL
PROPERTY


  

MORTGAGED
PROPERTY
AT CLOSING
DATE

YES OR NO


Maryland/Delaware

  

201 Power Drive, Rt. 18

Chester, MD 21619

  

Leased Property

  

No

Maryland/Delaware

  

Route 20 Gratitude Area

Rock Hall, MD 21661

  

Month to Month

Leased Property

  

No

Maryland/Delaware

  

195 Foard Lane

Chesapeake City, MD 21915

  

Leased Property

  

No

Maryland/Delaware

  

1220 Cedar Corner Rd.

Perryville, MD 21903

  

Month to Month

Leased Property

  

No

Miami Beach, Florida

  

1681 North Bay Causeway a/k/a

1681 79th Street Causeway No. Bay Village, FL 33141

  

Fee Property

  

Yes

Miami Beach, Florida

  

1951 NW 71st Street

Miami Beach, FL 33141

  

Fee Property

  

Yes

Miami Beach, Florida

  

1960 Normandy Drive

Miami Beach, FL 33141

  

Leased Property

  

Yes

Miami Beach, Florida

  

1665 NE 79th St.

Miami, FL 33155

  

Other Real Property

  

No

Miami Beach, Florida

  

4225 SW 71st Avenue,

Miami, FL 33155

Same lease as: 4245 SW 71st Ave.

  

Leased Property

  

No

Mifflinburg, PA

  

314 Chestnut Street

Mifflinburg, PA 17844

  

Other Real Property

  

No

Mifflinburg, PA

  

1 Stoney Acres Road

Mifflinburg, PA 17844

  

Fee Property

  

No

Moorefield, WV

  

1278 South Fork Rd.

Moorefield, WV 26836 Hub Site

  

Fee Property

  

No

Moorefield, WV

  

Mountain Top

Moorefield, WV 26836

  

Other Real Property

  

No

Shippenville, PA

  

103 Oakwood Lane

Shippenville, PA 16254

  

Leased Property

  

No

Shippenville, PA

  

Route 322

Shippenville, PA 16254

  

Other Real Property

  

No

Uniontown, PA

  

320 Bailey Avenue

Uniontown, PA 15401

  

Leased Property

  

No

Uniontown, PA

  

Old Pittsburgh Road

Uniontown, PA 15401

  

Fee Property

  

No

Uniontown, PA

  

Vesterburg, PA 15363

  

Leased Property

  

No

Warren, PA

  

14 Biddle Street

Warren, PA 16365

  

Leased Property

  

No

Warren, PA

  

702 E. Fifth Ave.

Warren, PA 16365

  

Leased Property

  

No


Annex B

 

Schedule 7.10 - Post Closing Collateral Matters

 

1. Bunny Hop Road, Claysburg, PA 16625

 

2. 80 Forest Edge Lane, Lewiston, PA 17044

 

3. 1 Stoney Acres Road, Mifflinburg, PA 17844

 

4. 2 Fernwood Drive, Bradford, PA 16701

 

5. 1278 South Fork Road, Moorefield, WV 26836

 

6. Old Pittsburgh Road, Uniontown, PA 15401