THIRD AMENDMENT TO RESTRUCTURING AGREEMENT
Exhibit
10.5
THIRD
AMENDMENT TO RESTRUCTURING AGREEMENT
THIS
THIRD AMENDMENT TO RESTRUCTURING AGREEMENT (this “Amendment”‘) is made
and entered into as of October 13, 2009, by and between the following
parties:
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(a)
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[Insert
Name of Bondholder] (the “Undersigned
Holder”); and
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(b)
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Charter
Communications, Inc., a Delaware corporation (“CCI”), and each
of its direct and indirect subsidiaries identified on the signature pages
attached hereto (collectively, the “Company” and
the Undersigned Holder and the Company, each, a “Party”, and
collectively, the “Parties”).
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RECITALS
WHEREAS, the Company and the
Undersigned Holder are parties to that certain Restructuring Agreement dated as
of February 11, 2009, as amended on July 30, 2009 and September 22, 2009 (as so
amended, the “Agreement”) governing
certain matters regarding the proceedings commenced on March 27, 2009 (the
“Petition
Date”) upon the filing by CCI and certain of its direct and indirect
subsidiaries (collectively, the “Debtors”‘) of a
voluntary petition for relief pursuant to chapter 11 of title 11 of the United
States Code in the United States Bankruptcy Court for the Southern District of
New York (the “Bankruptcy
Court”);
WHEREAS, pursuant to the
Agreement, the Undersigned Holder agreed to support a plan of reorganization
consistent in all material respects with, and on terms and conditions no less
favorable than, the terms and conditions set forth in the Agreement and the Term
Sheet incorporated therein;
WHEREAS, in accordance with
the Agreement, on March 27, 2009, the Debtors filed the Debtors’ Joint Plan
of Reorganization Pursuant to chapter 11 of title 11 of the United
States Code, which plan of reorganization has subsequently been modified in
accordance with the Agreement, including the non-material modifications to the
plan of reorganization filed with the Bankruptcy Court on May 7, 2009 and
July 15, 2009 (as the same may be amended from time to time in accordance
with the terms of the Agreement, the “Plan”);
and
WHEREAS, the Parties hereto
wish to amend the Agreement to the extent provided herein.
AMENDMENT TO THE
AGREEMENT
NOW, THEREFORE, in
consideration of these premises and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the Parties hereto
agree as follows:
1. The Company’s
Responsibilities. Section (4)(b)(v)
of the Agreement is hereby amended and restated in its entirety to read as
follows:
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“(v)
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cause
the Effective Date of the Plan to occur no later than on or before
November 2, 2009; provided, that if consents,
approvals or waivers required to be obtained from governmental authorities
in connection with the Plan with respect to Franchises, licenses and
permits covering areas serving at least 80% of the basic subscribers have
not been obtained on or before November 2, 2009, then cause the Effective
Date of the Plan to occur no later than on or before December 15,
2009; and”
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2. Termination. Section (8)(a)(vii)
of the Agreement is hereby amended and restated in its entirety to read as
follows:
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“(vii)
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the
later of either (a) the Effective Date shall not have occurred on or
before November 2, 2009 or (b) if consents, approvals or waivers
required to be obtained from governmental authorities in connection with
the Plan with respect to Franchises, licenses and permits covering areas
serving at least 80% of the basic subscribers have not been obtained on or
before November 2, 2009, and all other conditions precedent to the
Effective Date shall have been satisfied before November 2, 2009 or waived
by the Requisite Holders (other than those conditions that by their nature
are to be satisfied on the Effective Date), then the Effective Date shall
not have occurred on or before
December 15, 2009;”
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MISCELLANEOUS
4. Definitions. Capitalized terms
used in this Amendment, but not otherwise defined herein, shall have the
meanings set forth in the Agreement.
5. Full
Force and Effect. Except as amended
by this Amendment, the Agreement continues in full force and effect, and the
Parties hereto hereby ratify and confirm the Agreement, as amended
hereby. All reference to the “Agreement,” “herein,” “hereof,”
“hereunder” or words of similar import in the Agreement shall be deemed to
include the Agreement as amended by this Amendment.
6. Execution
of this Amendment. This Amendment
may be executed and delivered (by facsimile or otherwise) in any number of
counterparts, each of which, when executed and delivered, shall be deemed an
original, and all of which together shall constitute the same
agreement. Except as expressly provided in this Amendment, each
individual executing this Amendment on behalf of a Party has been duly
authorized and empowered to execute and deliver this Amendment on behalf of said
Party.
7. Governing
Law; Consent to Jurisdiction and Venue. THIS AMENDMENT IS
TO BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW
YORK APPLICABLE TO CONTRACTS MADE AND TO BE PERFORMED IN SUCH STATE, WITHOUT
GIVING EFFECT TO THE CHOICE OF LAWS PRINCIPLES THEREOF. By its
execution and delivery of this Amendment, each of the Parties
hereto
hereby irrevocably and unconditionally agrees for itself that any legal action,
suit or proceeding with respect to any matter under or arising out of or in
connection with this Amendment or for recognition or enforcement of any judgment
rendered in any such action, suit or proceeding, shall be brought exclusively in
the Bankruptcy Court in the Southern District of New York. By
execution and delivery of this Amendment, each of the Parties hereto hereby
irrevocably accepts and submits itself to the exclusive jurisdiction of such
court, generally and unconditionally, with respect to any such action, suit or
proceeding.
8. Captions:
Construction. The headings of
Sections in this Amendment are provided for convenience only and shall not
affect its construction or interpretation.
9. No Third
Party Beneficiaries. This Amendment is
for the sole benefit of the Parties hereto and their permitted assigns and
nothing herein, express or implied, is intended to or shall confer upon any
other person any legal or equitable benefit, claim, cause of action, remedy or
right of any kind.
10. Entire
Agreement. The Agreement, as
amended by this Amendment, supersedes all prior agreements between the Parties
hereto with respect to its subject matter and constitutes a complete and
exclusive statement of the terms of the agreement between the Parties with
respect to their subject matter.
11. Retroactive
Effect. This Amendment
shall be deemed to have been executed prior to the Petition Date and the Parties
agree that under no circumstances shall the Agreement, as amended by this
Amendment or otherwise, be treated as a postpetition agreement.
12. Commitment
Letter. The Undersigned
Holder acknowledges for itself and its affiliates that references to the
Agreement in the commitment letter, dated February 11, 2009, by and among
CCI, CCH I, LLC, CCH II, LLC, Charter Communications Operating, LLC and the
Undersigned Holder (or one or more of its affiliates), as amended, shall be
deemed to refer to the Agreement as amended by this Amendment.
IN
WITNESS WHEREOF, the Parties have entered into this Amendment on the day and
year first written above.
CHARTER
COMMUNICATIONS, INC.
CCH I,
LLC
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By:
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_________________ |
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Name:
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▇▇▇▇▇▇
▇▇▇▇▇▇▇
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Title:
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Chief
Financial Officer
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CCH
II, LLC
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By:
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__________________ |
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Name:
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▇▇▇▇▇▇
▇▇▇▇▇▇▇
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Title:
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Chief
Financial Officer
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[INSERT
NAME OF BONDHOLDER]
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By:
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__________________ |
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Name:
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Title:
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Authorized
Signatory
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