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CBS Corp – ‘10-K’ for 12/31/95 – EX-4.(H)

As of:  Monday, 4/1/96   ·   For:  12/31/95   ·   Accession #:  950112-96-1003   ·   File #:  1-09553

Previous ‘10-K’:  ‘10-K’ on 3/31/95 for 12/31/94   ·   Next:  ‘10-K’ on 3/31/97 for 12/31/96   ·   Latest:  ‘10-K’ on 2/28/24 for 12/31/23

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

 4/01/96  CBS Corp                          10-K       12/31/95   12:650K                                   Merrill Corporate/FA

Annual Report   —   Form 10-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Viacom Inc.                                          107    510K 
 2: EX-4.(F)    Instrument Defining the Rights of Security Holders   100    236K 
 3: EX-4.(G)    Instrument Defining the Rights of Security Holders    81    187K 
 4: EX-4.(H)    Instrument Defining the Rights of Security Holders    37     76K 
 5: EX-10.(C)   Material Contract                                      4     21K 
 6: EX-10.(L)   Material Contract                                     14     54K 
 7: EX-10.(M)   Material Contract                                     14     53K 
 8: EX-11       Statement re: Computation of Earnings Per Share        2±    13K 
 9: EX-21       Subsidiaries of the Registrant                        13     83K 
10: EX-23.(A)   Consent of Experts or Counsel                          1      7K 
11: EX-24       Power of Attorney                                      9     21K 
12: EX-27       Financial Data Schedule (Pre-XBRL)                     1     10K 


EX-4.(H)   —   Instrument Defining the Rights of Security Holders
Exhibit Table of Contents

Page (sequential) | (alphabetic) Top
 
11st Page   -   Filing Submission
"Amendment No. 1
13Amendment
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AMENDMENT NO. 1 AMENDMENT NO. 1, dated as of May 15, 1995 ("Amendment No. 1"), to the $1.8 BILLION CREDIT AGREEMENT, dated as of September 29, 1994 (the "Credit Agreement"), among VIACOM INC., a Delaware corporation ("Viacom"), each of the several Banks, THE BANK OF NEW YORK, as a Managing Agent and as the Documentation Agent, CITIBANK, N.A., as a Managing Agent and as the Administrative Agent, MORGAN GUARANTY TRUST COMPANY OF NEW YORK, as a Managing Agent, JP MORGAN SECURITIES INC., as the Syndication Agent, BANK OF AMERICA NT&SA, as a Managing Agent, and the Banks identified as Agents on the signature pages thereof, as Agents. W I T N E S S E T H: WHEREAS, Viacom has requested certain amendments to be made to certain provisions of the Credit Agreement; and WHEREAS, the parties who have heretofore entered into the Credit Agreement now desire to amend such provisions of such agreement. NOW, THEREFORE, the parties hereto agree as follows: SECTION 1. Amendments. (a) The definition of EBIDT in Section 1.1 of the Credit Agreement is hereby amended by: (i) deleting clause (a)(ii) in its entirety and replacing it with the following: "(ii) amortization expense (including all amortization expenses recognized in accordance with APB 16 and 17 but excluding (A) all other amortization of programming, production and pre-publication costs and (B) amortization of videocassettes)"; and (ii) deleting the phrase ", less (c) Net Video Tape Purchases" after the word "definition" at the end of clause (b). (b) Section 1.1 of the Credit Agreement is hereby amended to delete the definition of Net Video Tape Purchases.
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(c) The definition of "Applicable Eurodollar Rate Margin" in Section 1.1 of the Credit Agreement is hereby amended by deleting the proviso in its entirety and replacing it with the following: "provided, however, that if the ratings assigned by S&P and Moody's shall differ, the Credit Rating shall be the rating which is the higher rating". (d) Section 3.4 (a) of the Credit Agreement is hereby amended by deleting the proviso in its entirety and replacing it with the following: "provided, however, that if the ratings assigned by S&P and Moody's shall differ, the Credit Rating shall be the rating which is the higher rating". (e) Section 8.6 of the Credit Agreement is hereby amended by replacing it in its entirety with the following: "8.6.Subsidiary Indebtedness. The Borrower shall not permit any of its Subsidiaries, other than a Guarantor Subsidiary, to incur Indebtedness for borrowed money other than (a) the Subsidiary Loans (as defined in the July Agreements), (b) under existing facilities identified on Schedule 8.6 or any replacement facilities thereto which in the aggregate do not exceed the amounts of the commitments reflected on such Schedule and (c) Indebtedness for borrowed money in the total amount of $25 million for all Subsidiaries other than a Guarantor Subsidiary." (f) Section 8.7 of the Credit Agreement is hereby amended by inserting the following after the words "Commercial Paper" in the parentheses: "and up to $500 million of Indebtedness with maturities of no less than seven years from the date such Indebtedness is incurred". SECTION 2. Effectiveness. This Amendment No. 1 will be effective upon the execution thereof by each of Viacom, the Guarantor Subsidiary and (i) except in the case of the amendments contained in Sections 1(c) and (d) hereof, the 2
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Majority Banks and (ii) in the case of the amendments contained in Sections 1(c) and (d) hereof, each of the Banks. SECTION 3. Representations and Warranties. Each of the Borrower and the Guarantor Subsidiary hereby represents and warrants that as of the date hereof, both before and after giving effect to this Amendment No. 1, no Default or Event of Default shall exist or be continuing under the Credit Agreement. SECTION 4. Miscellaneous. (a) Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed to them in the Credit Agreement. (b) Except as amended hereby, all of the terms of the Credit Agreement shall remain and continue in full force and effect and are hereby confirmed in all respects. (c) This Amendment No. 1 shall be a Loan Document for the purposes of the Credit Agreement. (d) This Amendment No. 1 may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto were upon the same instrument. Delivery of an executed counterpart of a signature page of this Amendment No. 1 by telecopier shall be effective as delivery of a manually executed counterpart of this Amendment No. 1. (e) THIS AMENDMENT NO. 1 AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HERETO SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. SECTION 5. Guarantor Subsidiary Confirmation. By signing below, the Guarantor Subsidiary hereby agrees to the terms of the foregoing Amendment No. 1 and confirms that the VII Guarantee remains in full force and effect. 3
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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of the date first above written. VIACOM INC., as Borrower VIACOM INTERNATIONAL INC., as a Subsidiary Guarantor By: /s/ Vaughn A. Clark ---------------------------- Name: Vaughn A. Clark Title: Senior Vice President, Treasurer Managing Agents THE BANK OF NEW YORK, as Managing Agent, the Documentation Agent and a Bank By: /s/ Geoffrey C. Brooks ---------------------------- Name: Geoffrey C. Brooks Title: Vice President CITIBANK, N.A., as Managing Agent, the Administrative Agent and a Bank By: /s/ Margaret C. Ullrich ---------------------------- Name: Margaret C. Ullrich Title: Vice President 4
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MORGAN GUARANTY TRUST COMPANY OF NEW YORK, as Managing Agent and a Bank By: /s/ Mathias Blumschein ---------------------------- Name: Mathias Blumschein Title: Associate BANK OF AMERICA NT&SA, as Managing Agent and a Bank By:/s/ Amy S. Trapp ---------------------------- Name: Amy S. Trapp Title: Vice President Syndication Agent JP MORGAN SECURITIES INC., as the Syndication Agent By: /s/ Barbara J. Asch ---------------------------- Name: Barbara J. Asch Title:Vice President Agents BANK OF MONTREAL, as Agent and a Bank By: /s/ Yvonne Bos ---------------------------- Name: Yvonne Bos Title:Managing Director 5
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THE BANK OF NOVA SCOTIA, as Agent and a Bank By: /s/ Vince J. Fitzgerald ---------------------------- Name: Vince J. Fitzgerald Title: Senior Relationship Mgr. BANK OF TOKYO TRUST COMPANY, as Agent and a Bank By: /s/ Charles Poer ---------------------------- Name: Charles Poer Title: Vice President & Manager BANQUE PARIBAS, as Agent and a Bank By: /s/ Nicole Cawley ---------------------------- Name: Nicole Cawley Title:Vice President By: /s/ Cynthia D. Hewitt ---------------------------- Name: Cynthia D. Hewitt Title: Vice President BARCLAYS BANK PLC, as Agent and a Bank By: /s/ Michael W. Ballard ---------------------------- Name: Michael W. Ballard Title:Associate Director THE CHASE MANHATTAN BANK (NATIONAL ASSOCIATION), as Agent and a Bank By: /s/ Bruce Longenkamp ---------------------------- Name: Bruce Longenkamp Title:Vice President 6
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CHEMICAL BANK, as Agent and a Bank By: /s/ Mary E. Cameron ---------------------------- Name: Mary E. Cameron Title: Vice President CREDIT LYONNAIS CAYMAN ISLAND BRANCH, as Agent and a Bank By: /s/ M. Bernadette Collins ---------------------------- Name: M. Bernadette Collins Title:Authorized Signature THE DAI-ICHI KANGYO BANK LTD., NEW YORK BRANCH, as Agent and a Bank By: /s/ Shinya Wako ---------------------------- Name: Shinya Wako Title:Senior Vice President and Department Head THE FUJI BANK, LIMITED, as Agent and a Bank By: /s/ Kazuaki Kitabatake ---------------------------- Name: Kazuaki Kitabatake Title:Joint General Manager 7
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THE INDUSTRIAL BANK OF JAPAN, LTD., as Agent and a Bank By: /s/ Jeffrey Cole ---------------------------- Name: Jeffrey Cole Title:Senior Vice President LTCB TRUST COMPANY, as Agent and a Bank By: /s/ John A. Krob ---------------------------- Name: John A. Krob Title: Senior Vice President MELLON BANK, N.A., as Agent and a Bank By: /s/ G. Luis Ashley ---------------------------- Name: G. Luis Ashley Title: First Vice President THE MITSUBISHI BANK, LIMITED, as Agent and a Bank By: /s/ Paula Mueller ---------------------------- Name: Paula Mueller Title: Vice President 8
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THE MITSUBISHI TRUST & BANKING CORPORATION, as Agent and a Bank By: /s/ Patricia Loret de Mola Name: Patricia Loret de Mola Title: Senior Vice President NATIONSBANK OF TEXAS, N.A., as Agent and a Bank By: /s/ Chad E. Coben ---------------------------- Name: Chad E. Coben Title: Vice President THE NIPPON CREDIT BANK, LTD., LOS ANGELES AGENCY, as Agent and a Bank By: /s/ Bernardo E. Correa-Henschke -------------------------------- Name: Bernardo E. Correa-Henschke Title: Vice President and Manager ROYAL BANK OF CANADA, as Agent and a Bank By: /s/ Eduardo Salazar ---------------------------- Name: Eduardo Salazar Title: Senior Manager 9
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THE SAKURA BANK, LIMITED, as Agent and a Bank By: /s/ Hiroshi Shimazaki ---------------------------- Name: Hiroshi Shimazaki Title: Senior Vice President and Manager THE SANWA BANK, LTD., as Agent and a Bank By: /s/ Dominic J. Sorresso Name: Dominic J. Sorresso Title:Vice President SOCIETE GENERALE, as Agent and a Bank By: /s/ Pascale Hainline ---------------------------- Name: Pascale Hainline Title:Vice President THE SUMITOMO BANK, LIMITED, NEW YORK BRANCH, as Agent and a Bank By:/s/ S. Higashi ---------------------------- Name: S. Higashi Title: Joint General Manager THE TOKAI BANK, LIMITED, NEW YORK BRANCH, as Agent and a Bank By: /s/ Masaharu Muto ---------------------------- Name: Masaharu Muto Title: Deputy General Manager 10
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THE TORONTO-DOMINION BANK, as Agent and a Bank By: /s/ Neva Nesbitt ---------------------------- Name: Neva Nesbitt Title:Manager Credit Admin. UNION BANK, as Agent and a Bank By: /s/ J. Kevin Sampson ---------------------------- Name: J. Kevin Sampson Title: UNION BANK OF SWITZERLAND, as Agent and a Bank By: /s/ James P. Kelleher ---------------------------- Name: James P. Kelleher Title: Assistant Vice President By: /s/ Peter B. Yearley ---------------------------- Name: Peter B. Yearley Title: Vice President CREDIT SUISSE, as Agent and a Bank By: /s/ Michael C. Mast ---------------------------- Name: Michael C. Mast Title: Member of Senior Management 11
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By: /s/ Kristina Catlin ---------------------------- Name: Kristina Catlin Title: Associate DEUTSCHE BANK AG, through its New York and/or Cayman Islands Branch, as Agent and a Bank By: /s/ Steven M. Godeke ---------------------------- Name: Steven M. Godeke Title: Vice President By: /s/ Bina R. Dabbah ---------------------------- Name: Bina R. Dabbah Title: Vice President FIRST INTERSTATE BANK OF WASHINGTON, N.A. By:/s/ Susan Hendrixson ---------------------------- Name: Susan Hendrixson Title: Vice President 12
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AMENDMENT This Amendment ("Amendment"), dated as of November 17, 1995, shall be: AMENDMENT NO. 2 to the $1.8 BILLION CREDIT AGREEMENT, dated as of September 29, 1994, as amended, (the "Credit Agreement") among VIACOM Inc., a Delaware corporation ("Viacom"), each of the several Banks, THE BANK OF NEW York, as a Managing Agent and as the Documentation Agent, CITIBANK, N.A., as a Managing Agent and as the Administrative Agent, MORGAN GUARANTY TRUST COMPANY OF NEW YORK, as a Managing Agent, JP MORGAN SECURITIES INC., as the Syndication Agent, BANK OF AMERICA NT&SA, as a Managing Agent, the Banks identified as Agents of the signature pages thereof, as Agents. WITNESSETH: WHEREAS, Viacom, Viacom International Inc., a wholly-owned subsidiary of Viacom ("VII"), Viacom International Services Inc., a wholly-owned subsidiary of VII ("VII Services"), Tele-Communications Inc. ("TCI"), and TCI Communications Inc. ("TCI Sub"), a wholly -owned subsidiary of TCI, have entered into a series of agreements ("the Transaction Documents", which are listed on Schedule I attached hereto) pursuant to which (i) VII will convey to VII Services proceeds from the $1.7 billion bank debt described below and all of its assets relating to business operations other than the cable television business (the "Non Cable Businesses"), and VII Services will assume all of VII's liabilities (including its existing public debt and bank debt) other than the $1.7 Billion bank debt described below and liabilities relating to the cable television business (the "Cable Business"), (ii) VII will distribute the stock of VII Services to Viacom (the "First Distribution"), (iii) VII, after giving effect to the First Distribution, will be solely engaged in the Cable Business and VII will be recapitalized with new VII Class A common stock, (iv) the Class A common stock of VII will be split off to the shareholders of Viacom in an exchange offer (the "Exchange Offer") in which shares of Viacom common stock will be exchanged for shares of VII Class A common stock, (v) VII prior to the expiration of the Exchange Offer will borrow $1.7 billion from a syndicate of lenders, the proceeds of which will be deposited in a secured collateral account 1
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until the date of consummation of the Exchange Offer when VII will transfer such proceeds to VII Services as described above, and (vi) immediately after the split off, TCI has agreed to purchase Class B common stock of VII and the Class A common stock will be automatically converted upon such purchase into preferred stock, and (vii) VII will no longer be a subsidiary of Viacom and will be renamed TCI Pacific Communications Inc. and VII Services will be renamed Viacom International Inc. (collectively the "Cable Transaction"); and WHEREAS, Viacom has requested certain amendments to be made to and certain consents obtained with respect to certain provisions of the Credit Agreement; and WHEREAS, the parties who have heretofore entered into the Credit Agreement now desire to amend certain provisions of such agreement and for the Majority Banks to consent to the waiver of the application of certain other provisions in connection with the Cable Transaction NOW THEREFORE, the parties hereto agree as follows: SECTION 1. Amendments. (a) Section 8.6 of the Credit Agreement is hereby amended by replacing it in its entirety with the following: "8.6. Subsidiary Indebtedness. The Borrower shall not permit any of its Subsidiaries, other than the Guarantor Subsidiary, to incur Indebtedness for borrowed money other than (a) the Subsidiary Loans (as defined in the Subsidiary Facility), (b) under existing facilities identified on Schedule 8.6 to this Amendment No. 2 or any replacement facilities thereto which in the aggregate do not exceed the amounts of the commitments on such Schedule and (c) Indebtedness for borrowed money in an aggregate amount at any time outstanding of not more than $300 million; provided, however, the aggregate amount of Indebtedness for borrowed money scheduled to mature earlier than six months after the Commitment Termination Date at any time permitted to be outstanding under 8.6(c) and 8.7(b) may not exceed $300 million. 2
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(b) Section 8.7 of the Credit Agreement is hereby amended by replacing it in its entirety with the following: "8.7. Other Restrictions on Indebtedness. The Borrower shall not, and shall not permit the Guarantor Subsidiary to, incur Indebtedness for borrowed money maturing earlier than six months after the Commitment Termination Date other than (a) Commercial Paper and (b) up to $300 million at any time outstanding (less the aggregate amount outstanding under 8.6(c) scheduled to mature earlier than six months after the Commitment Termination Date) and on terms no more onerous than the terms hereof." (c) Section 11.1 of the Credit Agreement is hereby amended by deleting the word "or" preceding clause (f) therein, and inserting the following new clause (g): "or (g) amend clause (i) of Section 11.6". (d) Clause (i) of Section 11.6 of the Credit Agreement is hereby amended to read in its entirety as follows: "the Borrower shall have no right to assign its rights or obligations hereunder or any interest herein (and any such purported assignment shall be void) without the prior consent of the Banks except in connection with any (x) merger or consolidation permitted under Section 10.2 or the (y) merger, consolidation or sale of assets consented to by the Majority Banks". SECTION 2. Consents. In connection with the Cable Transaction: (a) On the Cable Transaction Effective Date, the Guarantor Subsidiary may assign all of its rights and obligations under the VII Guaranty to VII Services (which will change its name to Viacom International Inc.) if in connection therewith VII Services (i) assumes all of the obligations of VII under the VII Guaranty and (ii) receives an assignment of the Non Cable Businesses. VII Services will become the Guarantor Subsidiary and VII will be released from all of its obligations thereunder. (b) Prior to the expiration of the Exchange Offer, VII may borrow $1.7 billion from a syndicate of banks on terms permitted pursuant to the Transaction Documents substantially in the form of those in effect at the date hereof and may grant such banks a Lien on such funds until they are released to 3
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VII Services on the date of consummation of the Exchange Offer and a Lien on rights under the Subscription Agreement referred to in Schedule I. (c) After the Cable Transaction Effective Date, VII Services may hold certain cable franchises for the benefit of VII until regulatory approvals are obtained and may assign the receivables related to such franchises to the banks lending to VII. (d) For purposes of the Credit Agreement, the $1.7 Billion loan to VII shall not be considered Indebtedness of the Borrower or any of its Subsidiaries. Upon the execution and delivery hereof by the Majority Banks, the Majority Banks shall have consented to each of the foregoing relating to the Cable Transaction and, to the extent any of the matters described in (a) - (e) above are otherwise inconsistent with the terms of the Credit Agreement, as hereby amended, this Amendment shall constitute a waiver of the provisions thereof to the extent necessary to permit the Cable Transaction. SECTION 3. Assumption of Liabilities. As of the Cable Transaction Effective Date, VII Services hereby expressly assumes and agrees to pay, satisfy and perform when due all liabilities of VII under each Loan Document to which VII is a party. For purposes of clarity, VII's obligations under the $1.7 billion bank debt described above will not be assumed by VII Services. SECTION 4. Effectiveness This Amendment will be effective upon the execution hereof by each of Viacom, the Guarantor Subsidiary, VII Services, and the Majority Banks. SECTION 5. Representations and Warranties Each of the Borrower and the Guarantor Subsidiary hereby represents and warrants that (i) as of the date hereof, both before and after giving effect to this Amendment, and (ii) as of the date of, and after giving effect to consummation of, the Cable Transaction, no Default or Event of Default shall exist or be continuing under the Credit Agreement. SECTION 6. Miscellaneous. (a) Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed to them in the Credit Agreement. (b) Except as amended or waived hereby, all of the terms of the 4
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Credit Agreement shall remain and continue in full force and effect and are hereby confirmed in all respects. (c) This Amendment shall be a Loan Document for the purposes of the Credit Agreement. (d) This Amendment may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto were upon the same instrument. Delivery of an executed counterpart of a signature page of this Amendment by telecopier shall be effective as delivery of a manually executed counterpart of this Amendment. (e) THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HERETO SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. SECTION 7. Covenant. Viacom shall within two Business Days following the Cable Transaction Effective Date deliver to the Documentation Agent, dated as of the Cable Transaction Effective Date, as to VII Services only: (i) each of the documents referred to in Section 4.1(a), (b) and (c) of the Credit Agreement; (ii) a favorable opinion of Shearman & Sterling, special counsel to the Loan Parties, with respect to this Amendment substantially to the same effect as contemplated by paragraph 1 of Exhibit E-1 to the Credit Agreement; and (iii) a favorable opinion of Philippe P. Dauman, General Counsel to the Loan Parties, with respect to this Amendment substantially to the same effect as contemplated by paragraphs 1 - 6 of Exhibit E-2 to the Credit Agreement. SECTION 8. Guarantor Subsidiary Confirmation. By signing below, the Guarantor Subsidiary hereby agrees to the terms of the foregoing Amendment and confirms that the VII Guarantee remains in full force and effect. 5
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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of the date first above written. VIACOM INC., as Borrower By: /s/ Vaughn A. Clarke -------------------------------- Name: Vaughn A. Clarke Title: Senior Vice President VIACOM INTERNATIONAL INC., as a Subsidiary Borrower and as a Guarantor Subsidiary By: /s/ Vaughn A. Clarke -------------------------------- Name: Vaughn A. Clarke Title: Senior Vice President On behalf of the following Subsidiary Borrowers: VIACOM CABLEVISION OF DAYTON INC., WNYT INC., WMZQ INC. and WVIT INC., By:/s/ Vaughn A. Clarke -------------------------------- Name: Vaughn A. Clarke Title: Senior Vice President VIACOM INTERNATIONAL SERVICES INC. By:/s/ Vaughn A. Clarke -------------------------------- Name: Vaughn A. Clarke Title: Senior Vice President CREDIT SUISSE By:/s/ J. Hamilton Crawford -------------------------------- Name: J. Hamilton Crawford Title: Associate 6
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SOCIETE GENERALE By:/s/ Elaine I. Khalil -------------------------------- Name: Elaine I. Khalil Title: Vice President THE BANK OF NEW YORK By:/s/ Geoffrey C. Brooks -------------------------------- Name: Geoffrey C. Brooks Title: Vice President THE BANK OF TOKYO TRUST COMPANY By:/s/ John P. Judge -------------------------------- Name: John P. Judge Title: Vice President THE TOYO TRUST & BANKING CO., LTD. By:/s/ Hiroyuki Fukuro -------------------------------- Name: Hiroyuki Fukuro Title: Vice President FIRST INTERSTATE BANK OF WASHINGTON By:/s/ Susan Hendrixson -------------------------------- Name: Susan Hendrixson Title: Vice President 7
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UNION BANK OF SWITZERLAND By:/s/ Stephen A. Cayer -------------------------------- Name: Stephen A. Cayer Title: Assistant Treasurer By:/s/ Peter B. Yearly -------------------------------- Name: Peter B. Yearly Title: Vice President MITSUBISHI BANK, LTD. By:/s/ Paula Mueller -------------------------------- Name: Paula Mueller Title: THE MITSUBISHI TRUST AND BANKING CORPORATION By:/s/ Patricia Loret De Mola -------------------------------- Name: Patricia Loret De Mola Title: Senior Vice President THE SUMITOMO BANK, LTD. By:/s/ S. Higashi -------------------------------- Name: S. Higashi Title: Joint General Manager THE NIPPON CREDIT BANK, LTD. By:/s/ Bernardo E. Correa-Henschke -------------------------------- Name: Bernardo E. Correa-Henschke Title: Vice President & Manager 8
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THE SAKURA BANK, LTD. By:/s/ Hiroshi Shimazaki -------------------------------- Name: Hiroshi Shimazaki Title: Senior Vice President & Manager THE ROYAL BANK OF CANADA By:/s/ Cynthia K. Wong -------------------------------- Name: Cynthia K. Wong Title: Manager THE SANWA BANK, LTD. By: /s/ Dominic J. Sorresso -------------------------------- Name: Dominic J. Sorresso Title: Vice President TOKAI BANK, LTD. By:/s/ Stuart Schulman -------------------------------- Name: Stuart Schulman Title: Senior Vice President CHEMICAL BANK By:/s/ John J. Huber III -------------------------------- Name: John J. Huber III Title: Managing Director 9
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THE DAI-CHI KANGYO BANK, LTD. By:/s/ Ronald Wolinsky -------------------------------- Name: Ronald Wolinsky Title: Vice President & Group Leader MORGAN GUARANTY TRUST COMPANY OF NEW YORK By:/s/ R. BLake Witherington -------------------------------- Name: R. BLake Witherington Title: Vice President 10
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CITIBANK, N.A. By:/s/ Margaret C. Ullrich -------------------------------- Name: Margaret C. Ullrich Title: Vice President MELLON BANK, N.A. By: /s/ G. Luis Ashley -------------------------------- Name: G. Luis Ashley Title: First Vice President COMPAGNIE FINANCIERE DE CIC ET DE L'UNION EUROPENNE By:/s/ Brian O'Leary -------------------------------- Name: Brian O'Leary Title: Vice President By:/s/ Marcus Edward -------------------------------- Name: Marcus Edward Title: Vice President THE BANK OF NOVA SCOTIA By:/s/ Vincent Fitzgerald, Jr. -------------------------------- Name: Vincent Fitzgerald, Jr. Title: Authorized Signatory THE FUJI BANK, LTD. By:/s/ Katsunori Nozawa -------------------------------- Name: Katsunori Nozawa Title: Vice President & Manager 11
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THE LONG-TERM CREDIT BANK OF JAPAN, LTD. By:/s/ John A. Krob -------------------------------- Name: John A. Krob Title: Deputy General Manager BANK OF AMERICA By:/s/ Amy S. Trapp -------------------------------- Name: Amy S. Trapp Title: Vice President NATIONSBANK OF TEXAS, N.A. By:/s/ Chad E. Coben -------------------------------- Name: Chad E. Coben Title: Vice President DEUTSCHE BANK By:/s/ Steven M. Godeke -------------------------------- Name: Steven M. Godele Title: Vice President By:/s/ Bina R. Dabbah -------------------------------- Name: Bina R. Dabbah Title: Vice President 12
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UNION BANK By:/s/ Gabriel A. Renga -------------------------------- Name: Gabriel A. Renga Title: Senior Vice President THE TORONTO DOMINION BANK By:/s/ Neva Nesbitt -------------------------------- Name: Neva Nesbitt Title: Manager, Credit Admin. BANQUE PARIBAS By:/s/ Eileen M. Burke -------------------------------- Name: Eileen M. Burke Title: Vice President By:/s/ Cindy D. Hewitt -------------------------------- Name: Cindy D. Hewitt Title: Vice President BARCLAYS BANK PLC By:/s/ James K. Downy -------------------------------- Name: James K. Downy Title: Associate Director BANK OF MONTREAL By:/s/ Yvonne Bos -------------------------------- Name: Yvonne Bos Title: Managing Director 13
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CREDIT LYONNAIS By:/s/ James E. Morris -------------------------------- Name: James E. Morris Title: Vice President 14
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Schedule I 1. Parents Agreement, dated as of July 24, 1995, among Viacom, TCI and TCI Sub. 2. Implementation Agreement, dated as of July 24, 1995, between VII and VII Services. 3. Subscription Agreement, dated as of July 24, 1995, among VII, TCI and TCI Sub. 15
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PRICING AMENDMENT This Amendment ("Amendment"), dated as of November 17, 1995, shall be: AMENDMENT NO. 3 to the $1.8 BILLION CREDIT AGREEMENT, dated as of September 29, 1994, as amended, (the "Credit Agreement") among VIACOM Inc., a Delaware corporation ("Viacom"), each of the several Banks, THE BANK OF NEW York, as a Managing Agent and as the Documentation Agent, CITIBANK, N.A., as a Managing Agent and as the Administrative Agent, MORGAN GUARANTY TRUST COMPANY OF NEW YORK, as a Managing Agent, JP MORGAN SECURITIES INC., as the Syndication Agent, BANK OF AMERICA NT&SA, as a Managing Agent, the Banks identified as Agents of the signature pages thereof, as Agents. WITNESSETH: WHEREAS, the parties who have heretofore entered into the Credit Agreement now desire to amend certain provisions of such agreement to provide for a change in the Applicable Eurodollar Rate Margin and Commitment Fees payable thereunder NOW THEREFORE, the parties hereto agree as follows: SECTION 1. Amendments. (a) The definition of Applicable Eurodollar Rate Margin in section 1.1 of the Credit Agreement is hereby amended by deleting the table appearing therein and replacing it with the following table: CREDIT RATING MARGIN ------------- ------ A-/A3 or better 0.300% BBB+/Baa1 0.375% BBB/Baa2 0.450% BBB-/Baa3 0.500% BB+/Ba1 0.750% BB/Ba2 0.875% BB-/Ba3 or lower 1.250% 1
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(b) Section 3.4(a) of the Credit Agreement is hereby amended by deleting the table appearing therein and replacing it with the following table: CREDIT RATING COMMITMENT FEE ------------- -------------- A-/A3 or better 0.1250% BBB+/Baa1 0.1500% BBB/Baa2 0.1875% BBB-/Baa3 0.2000% BB+/Ba1 0.3125% BB/Ba2 0.3500% BB-/Ba3 or lower 0.4000% SECTION 2. Effectiveness This Amendment will be effective upon the execution hereof by each of Viacom, the Guarantor Subsidiary, VII Services, and each of the Banks. SECTION 3. Representations and Warranties Each of the Borrower and the Guarantor Subsidiary hereby represents and warrants that as of the date hereof, both before and after giving effect to this Amendment no Default or Event of Default shall exist or be continuing under the Credit Agreement. SECTION 4. Miscellaneous. (a) Capitalized terms used herein and not otherwise defined herein shall have the meanings ascribed to them in the Credit Agreement. (b) Except as amended hereby, all of the terms of the Credit Agreement shall remain and continue in full force and effect and are hereby confirmed in all respects. (c) This Amendment shall be a Loan Document for the purposes of the Credit Agreement. (d) This Amendment may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto were upon the same instrument. Delivery of an executed counterpart of a signature page of this Amendment by telecopier shall be effective as delivery of a manually executed counterpart of this Amendment. 2
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(e) THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HERETO SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. SECTION 5. Guarantor Subsidiary Confirmation. By signing below, the Guarantor Subsidiary hereby agrees to the terms of the foregoing Amendment and confirms that the VII Guarantee remains in full force and effect. IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of the date first above written. VIACOM INC., as Borrower By:/s/ Vaughn A. Clarke -------------------------------- Name: Vaughn A. Clarke Title: Senior Vice President VIACOM INTERNATIONAL INC., as a Subsidiary Borrower and as a Guarantor Subsidiary By:/s/ Vaughn A. Clarke -------------------------------- Name: Vaughn A. Clarke Title: Senior Vice President On behalf of the following Subsidiary Borrowers: VIACOM CABLEVISION OF DAYTON INC., WNYT INC., WMZQ INC. and WVIT INC., By:/s/ Vaughn A. Clarke -------------------------------- Name: Vaughn A. Clarke Title: Senior Vice President VIACOM INTERNATIONAL SERVICES INC. By:/s/ Vaughn A. Clarke -------------------------------- Name: Vaughn A. Clarke Title: Senior Vice President 3
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CREDIT SUISSE By:/s/ J. Hamilton Crawford -------------------------------- Name: J. Hamilton Crawford Title: Associate SOCIETE GENERALE By:/s/ Elaine I. Khalil -------------------------------- Name: Elaine I. Khalil Title: Vice President THE BANK OF NEW YORK By:/s/ Geoffrey C. Brooks -------------------------------- Name: Geoffrey C. Brooks Title: Vice President THE BANK OF TOKYO TRUST COMPANY By:/s/ John P. Judge -------------------------------- Name: John P. Judge Title: Vice President THE TOYO TRUST & BANKING CO., LTD. By:/s/ Hiroyuki Fukuro -------------------------------- Name: Hiroyuki Fukuro Title: Vice President FIRST INTERSTATE BANK OF WASHINGTON By:/s/ Susan Hendrixson -------------------------------- Name: Susan Hendrixson Title: Vice President 4
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UNION BANK OF SWITZERLAND By:/s/ Stephen A. Cayer -------------------------------- Name: Stephen A. Cayer Title: Assistant Treasurer By:/s/ Peter B. Yearly -------------------------------- Name: Peter B. Yearly Title: Vice President MITSUBISHI BANK, LTD. By:/s/ Paula Mueller -------------------------------- Name: Paula Mueller Title: THE MITSUBISHI TRUST AND BANKING CORPORATION By:/s/ Patricia Loret De Mola -------------------------------- Name: Patricia Loret De Mola Title: Senior Vice President THE SUMITOMO BANK, LTD. By:/s/ S. Higashi -------------------------------- Name: S. Higashi Title: Joint General Manager THE NIPPON CREDIT BANK, LTD. By:/s/ Bernardo E. Correa-Henschke -------------------------------- Name: Bernardo E. Correa-Henschke Title: Vice President & Manager 5
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THE SAKURA BANK, LTD. By:/s/ Hiroshi Shimazaki -------------------------------- Name: Hiroshi Shimazaki Title: Senior Vice President & Manager THE INDUSTRIAL BANK OF JAPAN, LTD. By:/s/ Jeffrey Cole -------------------------------- Name: Jeffrey Cole Title: Senior Vice President THE ROYAL BANK OF CANADA By:/s/ Cynthia K. Wong -------------------------------- Name: Cynthia K. Wong Title: Manager THE SANWA BANK, LTD. By: /s/ Dominic J. Sorresso -------------------------------- Name: Dominic J. Sorresso Title: Vice President TOKAI BANK, LTD. By:/s/ Stuart Schulman -------------------------------- Name: Stuart Schulman Title: Senior Vice President 6
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CHEMICAL BANK By:/s/ John J. Huber III -------------------------------- Name: John J. Huber III Title: Managing Director THE DAI-CHI KANGYO BANK, LTD. By:/s/ Ronald Wolinsky -------------------------------- Name: Ronald Wolinsky Title: Vice President & Group Leader MORGAN GUARANTY TRUST COMPANY OF NEW YORK By:/s/ R. BLake Witherington -------------------------------- Name: R. BLake Witherington Title: Vice President MELLON BANK, N.A. By: /s/ G. Luis Ashley -------------------------------- Name: G. Luis Ashley Title: First Vice President COMPAGNIE FINANCIERE DE CIC ET DE L'UNION EUROPENNE By:/s/ Brian O'Leary -------------------------------- Name: Brian O'Leary Title: Vice President By:/s/ Marcus Edward -------------------------------- Name: Marcus Edward Title: Vice President 7
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THE CHASE MANHATTAN BANK By:/s/ Bruce Longenkamp -------------------------------- Name: Bruce Longenkamp Title: Vice President THE BANK OF NOVA SCOTIA By:/s/ Vincent Fitzgerald, Jr. -------------------------------- Name: Vincent Fitzgerald, Jr. Title: Authorized Signatory THE FUJI BANK, LTD. By:/s/ Katsunori Nozawa -------------------------------- Name: Katsunori Nozawa Title: Vice President & Manager THE LONG-TERM CREDIT BANK OF JAPAN, LTD. By:/s/ John A. Krob -------------------------------- Name: John A. Krob Title: Deputy General Manager BANK OF AMERICA By:/s/ Amy S. Trapp -------------------------------- Name: Amy S. Trapp Title: Vice President NATIONSBANK OF TEXAS, N.A. By:/s/ Chad E. Coben -------------------------------- Name: Chad E. Coben Title: Vice President 8
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DEUTSCHE BANK By:/s/ Steven M. Godeke -------------------------------- Name: Steven M. Godele Title: Vice President By:/s/ Bina R. Dabbah -------------------------------- Name: Bina R. Dabbah Title: Vice President UNION BANK By:/s/ Gabriel A. Renga -------------------------------- Name: Gabriel A. Renga Title: Senior Vice President THE TORONTO DOMINION BANK By:/s/ Neva Nesbitt -------------------------------- Name: Neva Nesbitt Title: Manager, Credit Administration BANQUE PARIBAS By:/s/ Eileen M. Burke -------------------------------- Name: Eileen M. Burke Title: Vice President By:/s/ Cindy D. Hewitt -------------------------------- Name: Cindy D. Hewitt Title: Vice President 9
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BANK OF MONTREAL By:/s/ Yvonne Bos -------------------------------- Name: Yvonne Bos Title: Managing Director CREDIT LYONNAIS By:/s/ James E. Morris -------------------------------- Name: James E. Morris Title: Vice President 10

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