SIXTHAMENDMENT TO CREDIT AGREEMENT

EX-10.12 13 a2198254zex-10_12.htm EXHIBIT 10.12

Exhibit 10.12

 

EXECUTION COPY

 

SIXTH AMENDMENT TO CREDIT AGREEMENT

 

This SIXTH AMENDMENT, dated as of October 16, 2009 (this “Amendment”), to the Existing Credit Agreement referred to below, is among SABRE COMMUNICATIONS HOLDINGS, INC., a Delaware corporation, SABRE COMMUNICATIONS CORPORATION, an Iowa corporation, SABRE INDUSTRIES, INC., a Delaware corporation, CELLXION, LLC, a Delaware limited liability company, and CELLXION WIRELESS SERVICES, LLC, a Delaware limited liability company (collectively referred to as the “Borrowers” and individually referred to as a “Borrower”), and the Lenders (such capitalized term, and other capitalized terms used in this preamble or the recitals, have the meanings set forth in Article I) parties hereto.

 

W I T N E S S E T H:

 

WHEREAS, the Borrowers, various financial institutions (the “Lenders”) and Dresdner Bank AG New York and Grand Cayman Branches, as Administrative Agent are parties to a Credit Agreement, dated as of June 26, 2007 (as amended or otherwise modified prior to the date hereof, the “Existing Credit Agreement”); and

 

WHEREAS, such parties have agreed, subject to the terms and conditions hereinafter set forth, to amend the Existing Credit Agreement in certain respects as provided below (the Existing Credit Agreement, as so amended by this Amendment, being referred to as the “Credit Agreement”);

 

NOW, THEREFORE, in consideration of the agreements herein contained, the parties hereto agree as follows:

 

ARTICLE I
AMENDMENT TO THE
EXISTING CREDIT AGREEMENT

 

Effective on (and subject to the occurrence of) the Sixth Amendment Effective Date, the Existing Credit Agreement is hereby amended in accordance with this Article.

 

SECTION 1.1.  Clause (i) of Section 7.2.5 of the Existing Credit Agreement is amended to insert “$350,000” in place of “$100,000.”

 

ARTICLE II
WAIVER

 

 

Effective on (and subject to the occurrence of) the Sixth Amendment Effective Date, the parties agree to the following waiver under the Existing Credit Agreement.

 

SECTION 2.1.  Reference is made to the proposed expansion of Borrowers’ Alvarado, Texas facility (the “Expansion”), which Expansion shall be financed through an amendment of Borrowers’ existing sale-leaseback transaction with an affiliate of WP Carey (the “Add-on Sale Leaseback Transaction”).  Reference is also made to that certain Leasehold Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing dated as of August 1,

 



 

2008 made by Sabre Communications Corporation and CellXion, LLC in favor of Chicago Title Insurance Company, as trustee for the benefit of Administrative Agent (the “Existing Mortgage”).  The Lenders agree that, notwithstanding anything to the contrary in the Existing Credit Agreement and each other Loan Document, any Security Agreement and the Existing Mortgage, (i) the Add-on Sale Leaseback Transaction may be consummated and (ii) as a result of such consummation, no prepayment of any Loan shall be due (and in connection with the foregoing, Lenders waive any violation that might otherwise occur and any prepayment that might otherwise arise, in each case solely in connection with such consummation were such consummation to be effected without the benefit of this waiver).  Borrowers represent and agree that the Expansion will, upon construction, automatically be subject to the lien of the Existing Mortgage.

 

ARTICLE III
CONDITIONS TO EFFECTIVENESS

 

SECTION 3.1.  Sixth Amendment Effective Date.  This Amendment shall become effective as of the date first written above (the “Sixth Amendment Effective Date”), when the conditions set forth in this Article shall have been satisfied.

 

SECTION 3.1.1.  Execution of Counterparts.  The Administrative Agent shall have received counterparts of this Amendment, which shall have been duly executed and delivered on behalf of Sabre, SCC, Holdings, the Borrowers and the Required Lenders.

 

ARTICLE IV
REPRESENTATIONS AND WARRANTIES

 

SECTION 4.1.  Representations.  Each Borrower hereby represents and warrants that both before and after giving effect to this Amendment, (i) the representations and warranties contained in Article VI of the Existing Credit Agreement are true and correct in all material respects on and as of the date hereof as though made on and as of such date (except for those which by their terms expressly relate to an earlier date, which were true and correct in all material respects as of such date), (ii) after giving effect to the transactions contemplated herein, no Default or Event of Default has occurred and is continuing on and as of the date hereof and after giving effect to the transactions contemplated herein, (iii) it has the power and authority to execute and deliver this Amendment and to perform its obligations hereunder and has taken all necessary action to authorize the execution, delivery and performance by it of this Amendment, and (iv) it has duly executed and delivered this Amendment, and this Amendment constitutes its legal, valid and binding obligation enforceable in accordance with its terms except as the enforceability thereof may be limited by bankruptcy, insolvency or other similar laws affecting the rights of creditors generally or by general principles of equity.

 

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ARTICLE V
MISCELLANEOUS

 

SECTION 5.1.  Cross-References.  References in this Amendment to any Article or Section are, unless otherwise specified or otherwise required by the context, to such Article or Section of this Amendment.

 

SECTION 5.2.  Loan Document Pursuant to Existing Credit Agreement.  This Amendment is a Loan Document executed pursuant to the Existing Credit Agreement and shall be construed, administered and applied in accordance with all of the terms and provisions of the Existing Credit Agreement.

 

SECTION 5.3.  Successors and Assigns.  This Amendment shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns.

 

SECTION 5.4.  Counterparts.  This Amendment may be executed by the parties hereto in several counterparts, each of which when executed and delivered shall be deemed to be an original and all of which shall constitute together but one and the same agreement.

 

SECTION 5.5.  Governing Law; Entire Agreement.  THIS AMENDMENT SHALL BE DEEMED TO BE A CONTRACT MADE UNDER AND GOVERNED BY THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING FOR SUCH PURPOSE SECTIONS 5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK). THIS AMENDMENT AND THE OTHER LOAN DOCUMENTS CONSTITUTE THE ENTIRE UNDERSTANDING AMONG THE PARTIES HERETO WITH RESPECT TO THE SUBJECT MATTER HEREOF AND SUPERSEDE ANY PRIOR AGREEMENTS, WRITTEN OR ORAL, WITH RESPECT THERETO.

 

SECTION 5.6.  Full Force and Effect; Limited Amendment.  Except as expressly amended hereby, all of the representations, warranties, terms, covenants, conditions and other provisions of the Existing Credit Agreement and the other Loan Documents shall remain unchanged and shall continue to be, and shall remain, in full force and effect in accordance with their respective terms.  The amendments set forth herein shall be limited precisely as provided for herein to the provisions expressly amended herein and shall not be deemed to be an amendment to, waiver of, consent to or modification of any other term or provision of the Existing Credit Agreement or any other Loan Document or of any transaction or further or future action on the part of any Obligor which would require the consent of the Lenders under the Existing Credit Agreement or any of the Loan Documents.

 

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

 

 

SABRE COMMUNICATIONS HOLDINGS, INC.

 

 

 

 

 

 

 

By:

/s/ Peter Van Raalte

 

 

Title: Chairman

 

 

 

 

 

 

 

SABRE COMMUNICATIONS CORPORATION

 

 

 

 

 

 

 

By:

/s/ James M. Tholey

 

 

Title: E.V.P & C.F.O

 

 

 

 

 

 

 

SABRE INDUSTRIES, INC.

 

 

 

 

 

 

 

By:

/s/ Peter Van Raalte

 

 

Title: Chairman

 

 

 

 

 

 

 

CELLXION, LLC

 

 

 

 

 

 

 

By:

/s/ James M. Tholey

 

 

Title: E.V.P & C.F.O

 

 

 

 

CELLXION WIRELESS SERVICES, LLC

 

 

 

 

 

 

 

By:

/s/ James M. Tholey

 

 

Title: E.V.P & C.F.O

 

 

 

 

 

 

 

COMMERZBANK AG (FORMERLY DRESDNER BANK AG ACTING THROUGH ITS LENDING OFFICE, DRESDNER BANK AG, NEW YORK BRANCH)

 

 

 

 

 

 

 

By:

/s/ Brian M. Smith

 

 

Title: Managing Director

 

 

 

 

 

 

 

By:

/s/ Craig Meisner

 

 

Title: Managing Director