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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.
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.

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     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
         
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