Limited Waiver of Net Leverage Ratio Covenant between RTFC and ATN VI Holdings, LLC
This agreement is between Rural Telephone Finance Cooperative (RTFC) and ATN VI Holdings, LLC. RTFC grants a limited waiver to ATN VI Holdings, LLC, excusing the company from meeting the Net Leverage financial ratio requirement for the fiscal year ending December 31, 2021, as set out in their loan agreements. The waiver applies only to this specific financial ratio and year, and does not affect any other terms or future obligations under the loan agreements. All other provisions remain unchanged and in effect.
Exhibit 10.21
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February 22, 2022
Via Email (PDF)
Ms. Michele Satrowsky
Vice President – Corporate Treasurer
ATN International, Inc.
500 Cummings Center, Suite 2450
Beverly, MA 01915
Re: Limited Waiver of Net Leverage Ratio Covenant
Dear Ms. Satrowsky:
Rural Telephone Finance Cooperative ("RTFC") has received from ATN VI Holdings, LLC (the "Borrower") a request to waive compliance with the Borrower's Net Leverage financial ratio requirements that is contained in one or more loan agreements between RTFC and the Borrower.
RTFC hereby waives the Borrower's compliance with the above-referenced financial ratio, subject to the following conditions:
(a) This is a limited waiver with respect to the financial ratio specified herein as calculated for the Borrower's fiscal year ended December 31, 2021.
(b) This limited waiver shall not be construed as a waiver of any other term, condition or provision of any loan agreement or other credit agreement with RTFC.
(c) This limited waiver shall not be construed as a waiver of any term, condition or provision of any loan agreement or other credit agreement with RTFC with respect to meeting future financial ratio requirements.
(d) Except as specifically waived by RTFC herein, each and every term, condition and provision contained in any loan agreement or other credit agreement with RTFC shall remain unchanged and in full force and effect.
If the foregoing accurately describes our mutual understanding of the effect of this limited waiver and the conditions under which it is granted, please so indicate by signing this correspondence where indicated and returning the original to RTFC.
If you have any questions, please feel free to call me at ###-###-####.
Ms. Michele Satrowsky
ATN International, Inc.
February 22, 2022
Page 2
Sincerely,
Andrew Coleman
Vice President, Portfolio Management
Acknowledged and Agreed:
ATN VI Holdings, LLC
By: | /s/ Michele Satrowsky | |
Name: | Michele Satrowsky | |
Title: | Vice President - Corporate Treasurer | |
Date: | March 16, 2022 | |
