In thousands
EX-10.2 2 a54732exv10w2.htm EX-10.2 exv10w2
Exhibit 10.2
December 14, 2009
ViaSat, Inc.
6155 El Camino Real
Carlsbad, CA 92009
Attention: Paul Konopka, Esq.
6155 El Camino Real
Carlsbad, CA 92009
Attention: Paul Konopka, Esq.
Re: WildBlue Acquisition/Calculation of EBITDA Third Amendment
Gentlemen:
We refer to that certain Fourth Amended and Restated Revolving Loan Agreement dated as of July 1, 2009 among ViaSat, Inc., a Delaware corporation (the Borrower), each lender from time to time party thereto, Union Bank, N.A., as Administrative Agent (in such capacity, Administrative Agent), Bank of America, N.A., as Syndication Agent, JPMorgan Chase Bank, N.A., as Documentation Agent, Banc of America Securities LLC and Union Bank, N.A., as Joint Lead Arrangers and Joint Book Runners and Union Bank, N.A., as Collateral Agent, as amended (the Credit Agreement). Capitalized terms used herein and not defined shall have the meanings assigned to them in the Credit Agreement. Reference is also made to the WildBlue Acquisition.
The Borrower, the Lenders and the Agents hereby agree, effective as of the date first set forth above and for all periods ending on or after such date, that the definition of EBITDA contained in Section 1.1 of the Credit Agreement is amended as follows:
(a) the word and at the end of clause (b)(v) is deleted; and new clauses (vii) and (viii) are added immediately after the phrase statement of operations, to read as follows:
(vii) non-recurring expenses for professional services, regulatory clearances and filings, transfer fees, severance payments and other similar closing costs (to the extent such expenses are not capitalized by the Borrower) incurred in connection with the WildBlue Acquisition, provided that such non-recurring expenses shall not exceed an aggregate amount of $27,500,000; and (viii) non-recurring expenses for professional services, regulatory clearances and filings, transfer fees, severance payments and other similar closing costs (to the extent such expenses are not capitalized by the Borrower) incurred in connection with Permitted Acquisitions (other than the WildBlue Acquisition) and reasonably approved by the Administrative Agent; and
(b) the following sentence is added to the end of such definition:
For the avoidance of doubt, for purposes of calculating EBITDA with respect to any period in which the WildBlue Acquisition occurred, such Acquisition shall be deemed to have occurred on the first day of such period. Accordingly, as to any such period Net Income, Interest Expense, expense for taxes paid or accrued and each other component contained in the definition of EBITDA shall be deemed to include the actual results of WildBlue on a pro forma consolidated basis with the Borrower as if such Acquisition had occurred on the first day of such period.
The governing law and venue provisions of Section 11.17 of the Credit Agreement are incorporated herein by this reference mutatis mutandis. This letter 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. Delivery of an executed counterpart hereof by facsimile or electronic transmission shall be effective as delivery of a manually executed counterpart. Except as amended hereby, all of the provisions of the Credit Agreement and the other Loan Documents shall remain unmodified and in full force and effect except that each reference to the Agreement, or words of like import in any Loan Document, shall mean and be a reference to the Credit Agreement as amended hereby. This letter amendment shall be deemed a Loan Document as defined in the Credit Agreement.
- 2 -
If you are in agreement with the foregoing, please execute this letter is the space provided below.
Very truly yours, | ||||||
UNION BANK, N.A., | ||||||
as Administrative Agent and as a Lender | ||||||
By: | /s/ Mark Adelman | |||||
Name: | Mark Adelman | |||||
Title: | Vice President |
Agreed to as of the date first set forth above:
VIASAT, INC.,
a Delaware corporation
a Delaware corporation
By: | /s/ Keven K. Lippert | |||
Name: Keven K. Lippert | ||||
Title: Vice President and Secretary |
Bank of America, N.A., | ||||
as a Lender | ||||
By: | /s/ Christopher D. Pannacciulli | |||
Name: Christopher D. Pannacciulli | ||||
Title: Senior Vice President |
BANK OF THE WEST, | ||||
as a Lender | ||||
By: | /s/ Ed Ong | |||
Name: Ed Ong | ||||
Title: Vice President |
California Bank & Trust, | ||||
as a Lender | ||||
By: | /s/ Steve DeLong | |||
Name: Steve DeLong | ||||
Title: Senior Vice President & Manager |
COMERICA BANK, | ||||
as a Lender | ||||
By: | /s/ Steve D. Clear | |||
Name: Steve D. Clear | ||||
Title: Vice President |
JPMorgan Chase Bank, N.A., | ||||
as a Lender | ||||
By: | /s/ Anna C. Ruiz | |||
Name: Anna C. Ruiz | ||||
Title: Vice President |
Wells Fargo Bank, National Association, | ||||
as a Lender | ||||
By: | /s/ Donald S. Green | |||
Name: Donald S. Green | ||||
Title: Vice President |