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Level 3 Parent, LLC – ‘10-K’ for 12/31/23 – ‘EX-4.7(III)’

On:  Thursday, 2/22/24, at 4:09pm ET   ·   For:  12/31/23   ·   Accession #:  794323-24-4   ·   File #:  1-35134

Previous ‘10-K’:  ‘10-K’ on 2/23/23 for 12/31/22   ·   Latest ‘10-K’:  This Filing   ·   13 References:   

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  As Of               Filer                 Filing    For·On·As Docs:Size

 2/22/24  Level 3 Parent, LLC               10-K       12/31/23  115:9.9M

Annual Report   —   Form 10-K   —   SEA’34

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   1.54M 
 2: EX-4.2(IV)  Instrument Defining the Rights of Security Holders  HTML     44K 
 3: EX-4.3(IV)  Instrument Defining the Rights of Security Holders  HTML     45K 
 4: EX-4.7(III)  Instrument Defining the Rights of Security         HTML     45K 
                Holders                                                          
 5: EX-31.1     Certification -- §302 - SOA'02                      HTML     34K 
 6: EX-31.2     Certification -- §302 - SOA'02                      HTML     34K 
 7: EX-32.1     Certification -- §906 - SOA'02                      HTML     31K 
 8: EX-32.2     Certification -- §906 - SOA'02                      HTML     31K 
14: R1          Cover                                               HTML     92K 
15: R2          Audit Information                                   HTML     35K 
16: R3          Consolidated Statements of Operations               HTML     99K 
17: R4          Consolidated Statements of Comprehensive (Loss)     HTML     65K 
                Income                                                           
18: R5          Consolidated Statements of Comprehensive (Loss)     HTML     42K 
                Income (Parenthetical)                                           
19: R6          Consolidated Balance Sheets                         HTML    145K 
20: R7          Consolidated Balance Sheets (Parenthetical)         HTML     35K 
21: R8          Consolidated Statements of Cash Flows               HTML    126K 
22: R9          Consolidated Statements of Cash Flows               HTML     32K 
                (Parenthetical)                                                  
23: R10         Consolidated Statements of Member's Equity          HTML     65K 
24: R11         Background and Summary of Significant Accounting    HTML     93K 
                Policies                                                         
25: R12         Completed Divestiture of the Latin American         HTML     74K 
                Business and Planned Divestiture of European,                    
                Middle Eastern and African Business                              
26: R13         Goodwill, Customer Relationships and Other          HTML     64K 
                Intangible Assets                                                
27: R14         Revenue Recognition                                 HTML    111K 
28: R15         Leases                                              HTML    221K 
29: R16         Credit Losses on Financial Instruments              HTML     50K 
30: R17         Long-Term Debt                                      HTML     87K 
31: R18         Accounts Receivable                                 HTML     41K 
32: R19         Property, Plant and Equipment                       HTML     60K 
33: R20         Employee Benefits                                   HTML     38K 
34: R21         Share-based Compensation                            HTML     34K 
35: R22         Fair Value of Financial Instruments                 HTML     47K 
36: R23         Income Taxes                                        HTML    105K 
37: R24         Geographic and Customer Concentrations              HTML     48K 
38: R25         Affiliate Transactions                              HTML     38K 
39: R26         Commitments, Contingencies and Other Items          HTML     49K 
40: R27         Accumulated Other Comprehensive Loss                HTML     65K 
41: R28         Other Financial Information                         HTML     41K 
42: R29         Subsequent Event                                    HTML     36K 
43: R30         Background and Summary of Significant Accounting    HTML    128K 
                Policies (Policies)                                              
44: R31         Completed Divestiture of the Latin American         HTML     71K 
                Business and Planned Divestiture of European,                    
                Middle Eastern and African Business (Tables)                     
45: R32         Goodwill, Customer Relationships and Other          HTML     60K 
                Intangible Assets (Tables)                                       
46: R33         Revenue Recognition (Tables)                        HTML    104K 
47: R34         Leases (Tables)                                     HTML    104K 
48: R35         Credit Losses on Financial Instruments (Tables)     HTML     44K 
49: R36         Long-Term Debt (Tables)                             HTML     80K 
50: R37         Accounts Receivable (Tables)                        HTML     55K 
51: R38         Property, Plant and Equipment (Tables)              HTML     60K 
52: R39         Fair Value of Financial Instruments (Tables)        HTML     47K 
53: R40         Income Taxes (Tables)                               HTML    106K 
54: R41         Geographic and Customer Concentrations (Tables)     HTML     48K 
55: R42         Commitments, Contingencies and Other Items          HTML     37K 
                (Tables)                                                         
56: R43         Accumulated Other Comprehensive Loss (Tables)       HTML     67K 
57: R44         Other Financial Information (Tables)                HTML     40K 
58: R45         Background and Summary of Significant Accounting    HTML     85K 
                Policies (Details)                                               
59: R46         Completed Divestiture of the Latin American         HTML     65K 
                Business and Planned Divestiture of European,                    
                Middle Eastern and African Business - Additional                 
                Information (Details)                                            
60: R47         Completed Divestiture of the Latin American         HTML     41K 
                Business and Planned Divestiture of European,                    
                Middle Eastern and African Business - Pre-tax Net                
                Income (Loss) (Details)                                          
61: R48         Completed Divestiture of the Latin American         HTML    117K 
                Business and Planned Divestiture of European,                    
                Middle Eastern and African Business - Components                 
                of Held for Sale Assets and Liabilities (Details)                
62: R49         Goodwill, Customer Relationships and Other          HTML     54K 
                Intangible Assets - Schedule of Goodwill and                     
                Intangible Assets (Details)                                      
63: R50         Goodwill, Customer Relationships and Other          HTML     79K 
                Intangible Assets - Additional Information                       
                (Details)                                                        
64: R51         Goodwill, Customer Relationships and Other          HTML     45K 
                Intangible Assets - Goodwill Activity (Details)                  
65: R52         Goodwill, Customer Relationships and Other          HTML     41K 
                Intangible Assets - Future Amortization Expense                  
                (Details)                                                        
66: R53         Revenue Recognition - Disaggregation of Revenue     HTML     67K 
                (Details)                                                        
67: R54         Revenue Recognition - Customer Receivables and      HTML     49K 
                Contract Balances (Details)                                      
68: R55         Revenue Recognition - Additional Information        HTML     48K 
                (Details)                                                        
69: R56         Revenue Recognition - Remaining Performance         HTML     45K 
                Obligation (Details)                                             
70: R57         Revenue Recognition - Contract Costs (Details)      HTML     45K 
71: R58         Leases - Lease Expense (Details)                    HTML     42K 
72: R59         Leases - Additional Information (Details)           HTML     45K 
73: R60         Leases - Supplemental Balance Sheet Information     HTML     73K 
                (Details)                                                        
74: R61         Leases - Supplemental Cash Flow Information         HTML     41K 
                (Details)                                                        
75: R62         Leases - Maturities of Lease Liabilities (Details)  HTML     78K 
76: R63         Credit Losses on Financial Instruments (Details)    HTML     44K 
77: R64         Long-Term Debt - Schedule of Long Term Debt         HTML     77K 
                (Details)                                                        
78: R65         Long-Term Debt - New Issuances (Details)            HTML     50K 
79: R66         Long-Term Debt - Repayments (Details)               HTML     43K 
80: R67         Long-Term Debt - Redemption of Senior Notes         HTML     39K 
                (Details)                                                        
81: R68         Long-Term Debt - Interest Expense (Details)         HTML     38K 
82: R69         Long-Term Debt - Senior Secured Term Loan           HTML     52K 
                (Details)                                                        
83: R70         Long-Term Debt - Senior Notes (Details)             HTML     44K 
84: R71         Long-Term Debt - Maturities of Debt (Details)       HTML     43K 
85: R72         Long-Term Debt - Letters of Credit (Details)        HTML     42K 
86: R73         Long-Term Debt - Supplier Finance Program           HTML     44K 
                (Details)                                                        
87: R74         Long-Term Debt - Covenants (Details)                HTML     32K 
88: R75         Accounts Receivable - Schedule of Accounts          HTML     45K 
                Receivable (Details)                                             
89: R76         Property, Plant and Equipment - Net Property,       HTML     61K 
                Plant and Equipment (Details)                                    
90: R77         Property, Plant, and Equipment - Additional         HTML     39K 
                information (Details)                                            
91: R78         Property, Plant and Equipment - Asset Retirement    HTML     42K 
                Obligations (Details)                                            
92: R79         Employee Benefits - Defined Benefits (Details)      HTML     38K 
93: R80         Share-based Compensation (Details)                  HTML     32K 
94: R81         Fair Value of Financial Instruments (Details)       HTML     43K 
95: R82         Income Taxes - Components of Income Tax Expense     HTML     53K 
                (Details)                                                        
96: R83         Income Taxes - Allocation of Income Tax Expense     HTML     38K 
                (Details)                                                        
97: R84         Income Taxes - Reconciliation of Statutory Federal  HTML     51K 
                Income Tax Rate (Details)                                        
98: R85         Income Taxes - Additional Information (Details)     HTML     63K 
99: R86         Income Taxes - Deferred Tax Assets and Liabilities  HTML     60K 
                (Details)                                                        
100: R87         Income Taxes - Unrecognized Tax Benefits (Details)  HTML     46K  
101: R88         Geographic and Customer Concentrations - Assets     HTML     44K  
                from Geographic Region (Details)                                 
102: R89         Geographic and Customer Concentrations - Revenue    HTML     47K  
                from Geographical Region (Details)                               
103: R90         Geographic and Customer Concentrations -            HTML     39K  
                Additional Information (Details)                                 
104: R91         Affiliate Transactions (Details)                    HTML     42K  
105: R92         Commitments, Contingencies and Other Items -        HTML     51K  
                Additional Information (Details)                                 
106: R93         Commitments, Contingencies and Other Items -        HTML     44K  
                Right-of-Way Agreements (Details)                                
107: R94         Accumulated Other Comprehensive Loss - AOCI         HTML     55K  
                Activity (Details)                                               
108: R95         Accumulated Other Comprehensive Loss -              HTML     66K  
                Reclassifications out of AOCI (Details)                          
109: R96         Other Financial Information (Details)               HTML     48K  
110: R97         Subsequent Event (Details)                          HTML     42K  
112: XML         IDEA XML File -- Filing Summary                      XML    209K  
115: XML         XBRL Instance -- lumn-20231231_htm                   XML   2.17M  
111: EXCEL       IDEA Workbook of Financial Report Info              XLSX    211K  
10: EX-101.CAL  XBRL Calculations -- lumn-20231231_cal               XML    289K 
11: EX-101.DEF  XBRL Definitions -- lumn-20231231_def                XML    863K 
12: EX-101.LAB  XBRL Labels -- lumn-20231231_lab                     XML   2.09M 
13: EX-101.PRE  XBRL Presentations -- lumn-20231231_pre              XML   1.32M 
 9: EX-101.SCH  XBRL Schema -- lumn-20231231                         XSD    223K 
113: JSON        XBRL Instance as JSON Data -- MetaLinks              574±   869K  
114: ZIP         XBRL Zipped Folder -- 0000794323-24-000004-xbrl      Zip    492K

‘EX-4.7(III)’   —   Instrument Defining the Rights of Security Holders

This Exhibit is an HTML Document rendered as filed.  [ Alternative Formats ]

 C:   C: 
  Document  
Exhibit 4.7(iii)
SECOND SUPPLEMENTAL INDENTURE
SECOND SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”) dated as of December 29, 2023, among GLOBAL CROSSING NORTH AMERICA, INC., GLOBAL CROSSING NORTH AMERICAN HOLDINGS, INC., LEVEL 3 TELECOM HOLDINGS II, LLC, LEVEL 3 TELECOM MANAGEMENT CO. LLC, LEVEL 3 TELECOM OF ALABAMA, LLC, LEVEL 3 TELECOM OF ARKANSAS, LLC, LEVEL 3 TELECOM OF CALIFORNIA, LP, LEVEL 3 TELECOM OF D.C., LLC, LEVEL 3 TELECOM OF IDAHO, LLC, LEVEL 3 TELECOM OF ILLINOIS, LLC, LEVEL 3 TELECOM OF IOWA, LLC, LEVEL 3 TELECOM OF LOUISIANA, LLC, LEVEL 3 TELECOM OF MISSISSIPPI, LLC, LEVEL 3 TELECOM OF NEW MEXICO, LLC, LEVEL 3 TELECOM OF NORTH CAROLINA, LP, LEVEL 3 TELECOM OF OHIO, LLC, LEVEL 3 TELECOM OF OKLAHOMA, LLC, LEVEL 3 TELECOM OF OREGON, LLC, LEVEL 3 TELECOM OF SOUTH CAROLINA, LLC, LEVEL 3 TELECOM OF TEXAS, LLC, LEVEL 3 TELECOM OF UTAH, LLC, LEVEL 3 TELECOM OF VIRGINIA, LLC, LEVEL 3 TELECOM OF WASHINGTON, LLC, LEVEL 3 TELECOM OF WISCONSIN, LP and VYVX, LLC (each, a “New Guarantor” and collectively, the “New Guarantors”), LEVEL 3 PARENT, LLC, a Delaware limited liability company (“Level 3 Parent”), LEVEL 3 FINANCING, INC., a Delaware corporation (the “Issuer”), on behalf of itself and the Guarantors (other than Level 3 Parent) (the “Existing Guarantors”), under the Indenture referred to below, and THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., a national banking association, as trustee and collateral agent under the Indenture referred to below (the “Trustee”).
WITNESSETH:
WHEREAS, the Issuer, Level 3 Parent and the other Guarantors party thereto have heretofore executed and delivered to the Trustee an Indenture dated as of March 31, 2023 (the “Indenture”; capitalized terms used but not defined herein having the meanings assigned thereto in the Indenture), providing for the issuance of its 10.500% Senior Secured Notes due 2030;
WHEREAS, the Indenture permits the New Guarantors to execute and deliver to the Trustee a supplemental indenture pursuant to which the New Guarantors shall unconditionally guarantee all the Issuer’s obligations under the Securities pursuant to a Guarantee on the terms and conditions set forth herein;
WHEREAS, the Guarantee contained in this Supplemental Indenture shall constitute a “Note Guarantee”, and each of the New Guarantors shall constitute a “Guarantor”, for all purposes of the Indenture;
WHEREAS, pursuant to Section 801 and Section 1207 of the Indenture, the Trustee and the Issuer are authorized to execute and deliver this Supplemental Indenture; and
WHEREAS, all acts and requirements necessary to make this Supplemental Indenture the legal, valid and binding obligation of Level 3 Parent, the Issuer and the New Guarantors have been done.
NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, each New Guarantor, Level 3 Parent, the Issuer, the Existing Guarantors and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Securities as follows:
(i. Agreement to Guaranty. Each New Guarantor hereby agrees, jointly and severally with all the existing Guarantors, to unconditionally guarantee the Issuer’s obligations


under the Securities and the Indenture on the terms and subject to the conditions set forth in Article Twelve of the Indenture and to be bound by all other applicable provisions of the Indenture and the Securities.
(ii. Successors and Assigns. This Supplemental Indenture shall be binding upon each New Guarantor and its successors and assigns and shall inure to the benefit of the successors and assigns of the Trustee and the Holders and, in the event of any transfer or assignment of rights by any Holder or the Trustee, the rights and privileges conferred upon that party in the Indenture and in the Securities shall automatically extend to and be vested in such transferee or assignee, all subject to the terms and conditions of the Indenture.
(iii. No Waiver. Neither a failure nor a delay on the part of either the Trustee or the Holders in exercising any right, power or privilege under this Supplemental Indenture, the Indenture or the Securities shall operate as a waiver thereof, nor shall a single or partial exercise thereof preclude any other or further exercise of any right, power or privilege. The rights, remedies and benefits of the Trustee and the Holders herein and therein expressly specified are cumulative and not exclusive of any other rights, remedies or benefits which either may have under this Supplemental Indenture, the Indenture or the Securities at law, in equity, by statute or otherwise.
(iv. Modification. No modification, amendment or waiver of any provision of this Supplemental Indenture, nor the consent to any departure by any New Guarantor therefrom, shall in any event be effective unless the same shall be in writing and signed by the Trustee, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. No notice to or demand on any New Guarantor in any case shall entitle any such New Guarantor to any other or further notice or demand in the same, similar or other circumstances.
(v. Opinion of Counsel. Concurrently with the execution and delivery of this Supplemental Indenture, the Issuer shall deliver to the Trustee an Opinion of Counsel to the effect that this Supplemental Indenture has been duly authorized, executed and delivered by each New Guarantor and the Issuer and that, subject to the application of bankruptcy, insolvency, moratorium, fraudulent conveyance or transfer and other similar laws relating to creditors’ rights generally and to the principles of equity, whether considered in a proceeding at law or in equity, the Guarantee of each New Guarantor is a legal, valid and binding obligation of such New Guarantor, enforceable against such New Guarantor in accordance with its terms.
(vi. Ratification of Indenture; Supplemental Indentures Part of Indenture. Except as expressly amended hereby, the Indenture is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect. This Supplemental Indenture shall form a part of the Indenture for all purposes, and every Holder of Securities heretofore or hereafter authenticated and delivered shall be bound hereby.
(vii. Governing Law. THIS SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK BUT WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.
(viii. Counterparts. The parties may sign any number of copies of this Supplemental Indenture. Each signed copy shall be an original, but all of them together represent the same agreement.
2

(ix. Effect of Headings. The Section headings herein are for convenience only and shall not affect the construction thereof.
(x. Trustee. The Trustee makes no representations as to the validity or sufficiency of this Supplemental Indenture. The recitals and statements herein are deemed to be those of the Issuer, Level 3 Parent, the Existing Guarantors and the New Guarantors, and not of the Trustee.
[Remainder of this page intentionally left blank]

3

IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed as of the date first above written.

GLOBAL CROSSING NORTH AMERICA, INC.
GLOBAL CROSSING NORTH AMERICAN HOLDINGS, INC.
LEVEL 3 TELECOM HOLDINGS II, LLC
LEVEL 3 TELECOM MANAGEMENT CO. LLC
LEVEL 3 TELECOM OF ALABAMA, LLC
LEVEL 3 TELECOM OF ARKANSAS, LLC
LEVEL 3 TELECOM OF CALIFORNIA, LP
LEVEL 3 TELECOM OF D.C., LLC
LEVEL 3 TELECOM OF IDAHO, LLC
LEVEL 3 TELECOM OF ILLINOIS, LLC
LEVEL 3 TELECOM OF IOWA, LLC
LEVEL 3 TELECOM OF LOUISIANA, LLC
LEVEL 3 TELECOM OF MISSISSIPPI, LLC
LEVEL 3 TELECOM OF NEW MEXICO, LLC
LEVEL 3 TELECOM OF NORTH CAROLINA, LP
LEVEL 3 TELECOM OF OHIO, LLC
LEVEL 3 TELECOM OF OKLAHOMA, LLC
LEVEL 3 TELECOM OF OREGON, LLC
LEVEL 3 TELECOM OF SOUTH CAROLINA, LLC
LEVEL 3 TELECOM OF TEXAS, LLC
LEVEL 3 TELECOM OF UTAH, LLC
LEVEL 3 TELECOM OF VIRGINIA, LLC
LEVEL 3 TELECOM OF WASHINGTON, LLC
LEVEL 3 TELECOM OF WISCONSIN, LP
VYVX, LLC
By:/s/ Stacey W. Goff
Name: Stacey W. Goff
Title: Executive Vice President & General Counsel


[Signature Page to Supplemental Indenture]

LEVEL 3 PARENT, LLC,

By: /s/ Stacey W. Goff

Name: Stacey W. Goff
Title: Executive Vice President & General
Counsel

LEVEL 3 FINANCING, INC., on behalf of itself as the Issuer and the other Existing Guarantors


By: /s/ Stacey W. Goff

Name: Stacey W. Goff
Title: Executive Vice President & General
Counsel


[Signature Page to Supplemental Indenture]

THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee and as Note Collateral Agent


By: /s/ April Bradley
Name: April Bradley
Title: Vice President

[Signature Page to Supplemental Indenture]

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K’ Filing    Date    Other Filings
Filed on:2/22/24
For Period end:12/31/23
12/29/23
3/31/2310-Q,  8-K
 List all Filings 

13 Previous Filings that this Filing References

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 1/25/24  Lumen Technologies, Inc.          8-K:1,7,9   1/22/24   14:984K                                   Donnelley … Solutions/FA
10/31/23  Level 3 Parent, LLC               10-Q        9/30/23   73:5.6M
 3/31/23  Lumen Technologies, Inc.          8-K:1,2,8,9 3/31/23   14:1.2M                                   Donnelley … Solutions/FA
 2/24/22  Level 3 Parent, LLC               10-K       12/31/21  113:10M
 2/25/21  Lumen Technologies, Inc.          10-K       12/31/20  150:22M
 1/13/21  Lumen Technologies, Inc.          8-K:1,2,8,9 1/13/21   14:1.2M                                   Donnelley … Solutions/FA
 8/12/20  Lumen Technologies, Inc.          8-K:1,2,8,9 8/12/20   14:1.2M                                   Donnelley … Solutions/FA
 6/15/20  Lumen Technologies, Inc.          8-K:1,2,8,9 6/15/20   14:1.2M                                   Donnelley … Solutions/FA
12/04/19  Lumen Technologies, Inc.          8-K:1,2,8,911/29/19   16:3.2M                                   Donnelley … Solutions/FA
 9/26/19  Lumen Technologies, Inc.          8-K:1,2,8,9 9/25/19   15:1.5M                                   Donnelley … Solutions/FA
11/01/17  Level 3 Parent, LLC               8-K:1,2,3,511/01/17   12:245K                                   Donnelley … Solutions/FA
 4/17/09  Level 3 Parent, LLC               8-K:1,2,9   4/16/09    5:1.1M                                   Toppan Merrill/FA
 3/16/07  Level 3 Parent, LLC               8-K:1,2,8,9 3/13/07   18:1.3M                                   Donnelley … Solutions/FA
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