Exhibit 4(b)
July 17, ▇▇▇▇
▇▇▇▇ ▇▇ ▇▇▇▇▇▇▇, ▇.▇., as Agent for the Lenders
▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇▇
▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇
Re: Senior Secured Revolving Credit Facility between, among others,
Bank of America, N.A. and ▇▇▇ Radio and Television, Inc.
Ladies and Gentlemen:
Reference is hereby made to that certain Amended and Restated Loan
Agreement dated as of September 14, 2004 (as amended, restated, supplemented, or
otherwise modified from time to time, the "LOAN AGREEMENT"), by (i) ▇▇▇ Radio
and Television, Inc. (the "LEAD BORROWER"), for itself and the other Borrowers
party thereto, (ii) the Borrowers party thereto, (iii) the Lenders party
thereto, (iv) Bank of America, N.A., f/k/a Fleet Retail Group, Inc., as agent
for the Lenders (in such capacity, the "AGENT"), and (v) KeyBank National
Association, as Syndication Agent. All capitalized terms used herein but not
defined herein shall have the meanings assigned to them in the Loan Agreement.
The Lead Borrower hereby exercises its right under Section 3.01 of the
Loan Agreement to permanently reduce the Revolving Credit Commitments by
$40,000,000.00 such that the aggregate Revolving Credit Commitments following
such reduction shall be $75,000,000.00. Such reduction shall be applied ratably
to the Letter of Credit Sublimit, Revolving Credit Commitments of each Lender
such that the resulting Revolving Credit Commitments and Revolving Credit
Commitment Percentages of each Lender shall be as set forth in SCHEDULE I
annexed hereto. The effective date of such reduction shall be July __, 2007.(1)
Very truly yours,
▇▇▇ RADIO AND TELEVISION, INC., as Lead
Borrower
By: /s/▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇
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Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇
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Title: Chief Financial Officer
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Acknowledged and accepted:
BANK OF AMERICA, N.A., as Agent
By: /s/▇▇▇▇▇ ▇▇▇▇▇
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Name: ▇▇▇▇▇ ▇▇▇▇▇
Title: Vice President
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(1) Such date shall be at least five (5) Business Days following the date of
this letter.
SCHEDULE I
Revolving Credit Commitments/Percentages Following Reduction
--------------------------------- --------------------- ------------------------
LENDER REVOLVING CREDIT REVOLVING CREDIT
COMMITMENT COMMITMENT PERCENTAGE
--------------------------------- --------------------- ------------------------
Bank of America, N.A. $29,347,826.08 39.13044%
--------------------------------- --------------------- ------------------------
National City Bank, Dayton $16,304,347.83 21.73913%
--------------------------------- --------------------- ------------------------
KeyBank National Association $16,304,347.83 21.73913%
--------------------------------- --------------------- ------------------------
JPMorgan Chase Bank, N.A. $13,043,478.26 17.39131%
--------------------------------- --------------------- ------------------------
TOTAL $75,000,000.00 100%
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