aggressively pursue additional sales opportunities with our existing customers, and seek new customers by actively marketing our DAS solutions to other wireless carriers and other telecom and media companies

EX-10.11 11 f41153a2exv10w11.htm EXHIBIT 10.11 exv10w11
Exhibit 10.11
AMENDMENT
TO

LOAN AND SECURITY AGREEMENT
     This Amendment to Loan and Security Agreement is entered into as of March 26, 2008, by and among United Commercial Bank (the “Agent”), and NextG Networks, Inc., a Delaware corporation, NextG Networks Of California, Inc., a Delaware corporation, NextG Networks Of NY, Inc., a Delaware corporation, NextG Networks Of Illinois, Inc., a Delaware corporation, and NextG Networks Atlantic Inc., a Virginia corporation (each referred to individually as a Borrowerand collectively, as the “Borrowers”)
RECITALS
     Borrowers and Agent are parties to that certain Loan and Security Agreement dated as of January 10, 2008, as amended from time to time (the “Agreement”.) The parties desire to amend the Agreement in accordance with the terms of this Amendment.
AGREEMENT
     NOW, THEREFORE, the parties agree as follows:
1. The following defined terms in Section 1.1 are added or amended to read as follows:
     “Revolving Line” means Credit Extensions of up to ten million dollars ($10,000,000)
     “Term Facility” means Credit Extensions of up to fifty million dollars ($50,000,000)
2. All references to “$5,000,000” or “Five Million” in Exhibit D-l to the Agreement is hereby replaced with “$10,000,000” or “Ten Million” respectively, reflecting the increase to the Revolving Line
3. All references to “$55,000,000” or “Fifty Five Million” in Exhibit D-2 to the Agreement is hereby replaced with “$50,000,000” or “Fifty Million” respectively, reflecting the decrease to the Term Facility
4. Unless otherwise defined, all initially capitalized terms in this Amendment shall be as defined in the Agreement. The Agreement, as amended hereby, shall be and remains in full force and effect in accordance with its terms and hereby is ratified and confirmed in all respects. Except as expressly set forth herein, the execution, delivery, and performance of this Amendment shall not operate as a waiver of, or as an amendment of, any right, power, or remedy of Bank under the Agreement, as in effect prior to the date hereof. Borrower ratifies and reaffirms the continuing effectiveness of all instruments, documents and agreements entered into in connection with the Agreement.
5. Borrower represents and warrants that the representations and warranties contained in the Agreement are true and correct as of the date of this Amendment, and that no Event of Default has occurred and is continuing.
6. This Amendment may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one instrument.
7. As a condition to the effectiveness of this Amendment, Bank shall have received, in form and substance satisfactory to Bank, the following:
               (a) this Amendment, duly executed by Borrowers;
               (b) the Amendment to Promissory Notes, duly executed by Borrowers; and
               (c) such other documents, and completion of such other matters, as Bank may reasonably deem necessary or appropriate

 


 

     IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the first date above written
         
  Borrowers:

NextG Networks, Inc.,
a Delaware Corporation
 
 
  By:   /s/ Hab Siam    
    Hab Siam   
    General Counsel & Corporate Secretary   
 
         
  NextG Networks of California, Inc.,
a Delaware Corporation
 
 
  By:   /s/ Hab Siam    
    Hab Siam   
    General Counsel & Corporate Secretary   
 
         
  NextG Networks of NY, Inc.,
a Delaware Corporation
 
 
  By:   /s/ Hab Siam    
    Hab Siam   
    General Counsel & Corporate Secretary   
 
         
  NextG Networks of Illinois, Inc.,
a Delaware Corporation
 
 
  By:   /s/ Hab Siam    
    Hab Siam   
    General Counsel & Corporate Secretary   
 
         
  NextG Networks Atlantic Inc.,
a Virginia Corporation
 
 
  By:   /s/ Hab Siam    
    Hab Siam   
    General Counsel & Corporate Secretary   

 


 

         
  AGENT:

UNITED COMMERCIAL BANK

 
 
  By:   /s/ Yu-Fu Lin    
    Name:   Yu-Fu Lin   
    Title:   FVP & Relationship Manager   

 


 

         
  Lender:

United Commercial bank
 
 
  By:   /s/ Yu-Fu Lin    
    Name:   Yu-Fu Lin   
    Title:   FVP & Relationship Manager  
 
  Pro Rata Share: 58.33%
Credit Commitment: $35,000,000 
   

 


 

           
  Lender:

EastWest Bank
 
   
  By:   /s/ Thomas Chen   3/25/08  
    Name:   Thomas Chen     
    Title:   FVP & Manager      
 
  Pro Rata Share: 41.67%
Credit Commitment: $25,000,000