AMENDMENT NUMBER FOUR
to
$3,000,000,000
REVOLVING CREDIT AGREEMENT
dated as of December 1, 1993
between
GANNETT CO., INC.
and
THE CHASE MANHATTAN BANK, THE FIRST NATIONAL BANK OF
CHICAGO,
XXXXXX GUARANTY TRUST COMPANY,
NATIONSBANK, N.A., WACHOVIA BANK, N.A., BANK OF AMERICA
NT&SA, CITIBANK, N.A., MARINE MIDLAND BANK, XXXXX FARGO
BANK, BANK OF HAWAII, CRESTAR BANK, FIRST UNION NATIONAL
BANK, MELLON BANK, N.A., THE NORTHERN TRUST COMPANY, PNC
BANK, NATIONAL ASSOCIATION, THE FIRST NATIONAL BANK OF
MARYLAND, FLEET BANK, N.A. and NORWEST BANK MINNESOTA, N.A.
as amended
GANNETT CO., INC.
Amendment Number Four
to
$3,000,000,000
Revolving Credit Agreement
This Amendment Number Four is made as of July 1, 1998 between
Gannett Co., Inc., a Delaware corporation ("Gannett"), and the Banks signatory
hereto (each called a "Bank" and collectively the "Banks"). Unless otherwise
defined herein, all capitalized terms used herein shall have the meaning
ascribed to such terms in the Agreement (as defined below).
Gannett entered into a $1,000,000,000 Revolving Credit Agreement with
the Banks dated December 1, 1993 (the "Agreement"). On August 1, 1994,
pursuant to Amendment Number One to the Agreement, the Agreement was
amended to increase the aggregate commitment to $1,500,000,000, extend the
Expiration Date and modify the Facility Fee.
On November 13, 1995, pursuant to Amendment Number Two to the
Agreement, the Agreement was amended to increase the aggregate commitment
to $3,000,000,000, extend the Expiration Date, modify the Facility Fee, adjust
the Applicable Margin in effect with respect to the Money Market Rate and the
Eurodollar Rate, and amend Schedule 1 to the Agreement.
In August, 1996, pursuant to Amendment Number Three to the
Agreement, the Agreement was amended to modify the notice requirements with
respect to Alternate Rate Advances, to eliminate a certain representation
regarding environmental matters as a condition to lending and to reflect a
change in certain of the Banks.
Gannett and the Banks wish to further amend the Agreement to modify
the covenant with respect to Gannett's Total Shareholders' Equity, to extend
the expiration date and to amend Schedule 1 to the Agreement.
The parties hereby agree as follows:
1. The terms "this Agreement," "hereunder," "herein" and similar
references in the Agreement shall be deemed to refer to the Agreement as
amended hereby.
2. Section 9(c) of the Agreement shall be amended in its entirety to
read as follows:
9(c). Permit Gannett's Total Shareholders' Equity at
any time to be less than $2,000,000,000.
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3. The definition of "Expiration Date" shall be amended in its
entirety to read as follows: "Expiration Date" shall mean July 1, 2003.
4. Schedule 1 shall be amended to read in its entirety as set forth in
Schedule 1 hereto and all references to the Banks shall mean the Banks set
forth on Schedule 1 and each of the banks that may become a party to the
Agreement from time to time.
5. The terms of this Agreement shall be in addition to and shall in no
way impair the full force and effect of the Agreement (except as specifically
amended herein).
6. This Amendment may be executed by the parties in as many
counterparts as may be deemed necessary and convenient, and by the different
parties on separate counterparts, each of which, when so executed, shall be
deemed an original, but all such counterparts shall constitute but one and the
same instrument.
7. THIS AMENDMENT NUMBER FOUR SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.
IN WITNESS WHEREOF, the parties have executed this Amendment Number
Four as of the date first written above.
GANNETT CO., INC.
/s/Xxxxxx X. Xxxxxxx
By:_________________________________
Name: Xxxxxx X. Xxxxxxx
Title: Treasurer
THE CHASE MANHATTAN BANK
/s/Xxxx X. Xxxxx, III
By:_________________________________
Name: Xxxx X. Xxxxx III
Title: Managing Director
THE FIRST NATIONAL BANK OF CHICAGO
/s/Xxx Xxx
By:_________________________________
Name: Xxx Xxx
Title: Corporate Banking Officer
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XXXXXX GUARANTY TRUST COMPANY
/s/Xxxxxx Xxxxxxxxx
By:_________________________________
Name: Xxxxxx Xxxxxxxxx
Title: Vice President
NATIONSBANK, N.A.
/s/Xxxxxx X. Xxxxxxxx
By:_________________________________
Name: Xxxxxx X. Xxxxxxxx
Title: Vice President
WACHOVIA BANK, N.A.
/s/Xxxx X. Xxxxxxxxx
By:_________________________________
Name: Xxxx X. Xxxxxxxxx
Title: Vice President
BANK OF AMERICA NT&SA
/s/Xxxx X. Xxxxx
By:_________________________________
Name: Xxxx X. Xxxxx
Title: Vice President
CITIBANK, N.A.
/s/Xxxx Xxxxxx
By:_________________________________
Name: Xxxx Xxxxxx
Title: Attorney-In-Fact
MARINE MIDLAND BANK
/s/Xxxxxxxx Xxxxxxx
By:_________________________________
Name: Xxxxxxxx Xxxxxxx
Title: Vice President
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XXXXX FARGO BANK.
/s/Xxxxxx Xxxxxxx
By:________________________________
Name: Xxxxxx Xxxxxxx
Title: Vice President
BANK OF HAWAII
/s/Xxxxxxxxx X. XxxXxxx
By:_______________________________
Name: Xxxxxxxxx X. XxxXxxx
Title: Vice President
CRESTAR BANK
/s/Xxxxx X. Xxxxxxx
By:_______________________________
Name: Xxxxx X. Xxxxxxx
Title: Senior Vice President
FIRST UNION NATIONAL BANK
/s/Xxxxxxx X. XxxXxxx
By:_______________________________
Name: Xxxxxxx X. XxxXxxx
Title: Senior Vice President
MELLON BANK, N.A.
/s/G. Xxxxx Xxxxxx
By:_______________________________
Name: G. Xxxxx Xxxxxx
Title: First Vice President
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THE NORTHERN TRUST COMPANY
/s/M. D. Xxxxxxx
By:_______________________________
Name: M. D. Xxxxxxx
Title: Senior Vice President
PNC BANK, NATIONAL ASSOCIATION
/s/Xxxxxx X. Xxxxxxx
By:_______________________________
Name: Xxxxxx X. Xxxxxxx
Title: Vice President
THE FIRST NATIONAL BANK OF MARYLAND
/s/Xxxxx X. Xxxxxx
By:______________________________
Name: Xxxxx X. Xxxxxx
Title: Senior Vice President
FLEET BANK, N.A.
/s/Xxxxxxx X. Xxxx
By:_______________________________
Name: Xxxxxxx X. Xxxx
Title: Vice President
NORWEST BANK MINNESOTA,N.A.
/s/Xxx X. Xxxxx
By:_______________________________
Name: Xxx X. Xxxxx
Title: Vice President
SCHEDULE 1
COMMITMENTS OF THE BANKS
NAME, ADDRESS AND TELECOPY COMMITMENT AMOUNT
NUMBER OF BANK
SYNDICATION AGENTS
The Chase Manhattan Bank $350,000,000
000 Xxxx Xxxxxx, 00xx Xxxxx
Xxx Xxxx, XX 00000
Telecopy: 000-000-0000
The First National Bank of Chicago $350,000,000
000 Xxxx 00xx Xxxxxx
Xxx Xxxx, XX 00000
Telecopy: 000-000-0000
Xxxxxx Guaranty Trust Company $350,000,000
00 Xxxx Xxxxxx, 00xx Xxxxx
Xxx Xxxx, XX 00000-0000
Telecopy: 000-000-0000
NationsBank, N.A. $350,000,000
Communications Finance Division
000 Xxxx Xxxxxx, 00xx Xxxxx
Xxxxxx, XX 00000-0000
Telecopy: 000-000-0000
MANAGING AGENT
Wachovia Bank, N.A. $250,000,000
0000 X. Xxxx Xxxxxx, Xxxxx Xxxxxx
Xxxxxxxx, XX 00000
Telecopy: 000-000-0000
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CO-AGENTS
Bank of America NT&SA $150,000,000
0000 Xxxxxxx Xxxx.
Xxxxxxx, XX 00000
Telecopy: 000-000-0000 or 7532
With a copy to:
Bank of America NT&SA
000 Xxxxxxx Xxxxxx
Xxx Xxxx, XX 00000
Telecopy: 212-503-7173
Citibank, N.A. $150,000,000
000 Xxxx Xxxxxx
Xxx Xxxx, XX 00000
Telecopy: 000-000-0000
Marine Midland Bank $150,000,000
000 Xxxxxxxx, 0xx Xxxxx
Xxx Xxxx, XX 00000-0000
Telecopy: 000-000-0000
Xxxxx Fargo Bank $150,000,000
Risk Analysis Division
000 Xxxxxxxx Xxxx., 00xx Xxxxx
XXX 0000-000
Xxx Xxxxxxx, XX 00000
Telecopy: 000-000-0000
With a copy to:
Xxxxx Fargo Bank
National Financial Services
000 X. Xxxxx Xxxxxx, Xxxxx 0000
Xxxxxxx, XX 00000
Telecopy: 000-000-0000
LENDERS
Bank of Hawaii $100,000,000
000 Xxxxxxxx Xxxxxx, 00xx Xxxxx
Xxxxxxxx, XX 00000
Telecopy: 000-000-0000
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With a copy to:
Bank of Hawaii
0000 X. Xxxxxxx Xxxxxx
Xxxxx 000
Xxxxxxx, Xxxxxxx 00000
Telecopy: 000-000-0000
Crestar Bank $100,000,000
0000 Xxx Xxxx Xxxxxx, X.X.
Corporate Division - Xxxxx Xxxxx
Xxxxxxxxxx, XX 00000
Telecopy: 000-000-0000
First Union National Bank $100,000,000
0000 Xxxxx Xxxxxx Xxxx
0xx Xxxxx (XX 1937)
Xxxxxx, XX 00000
Telecopy: 000-000-0000
Mellon Bank, N.A. $100,000,000
One Mellon Bank Center
Room 4440
Xxxxxxxxxx, XX 00000
Telecopy: 000-000-0000
The Northern Trust Company $100,000,000
00 Xxxxx XxXxxxx Xxxxxx X0
Xxxxxxx, XX 00000
Telecopy: 000-000-0000
PNC Bank, National Association $100,000,000
Communications Banking Division
0000 Xxxxxx Xxxxxx, 00xx Xxxxx
Xxxxxxxxxxxx, XX 00000
Attn: Xxxxx X. Xxxxx
Telecopy: 000-000-0000
The First National Bank of Maryland $ 50,000,000
000 00xx Xxxxxx, X.X.,
Xxxxx 0000 Xxxxx
Xxxxxxxxxx, XX 00000
Telecopy: 000-000-0000
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Fleet Bank, N.A. $ 50,000,000
000 Xxxxxxxxxxx Xxxxxx
Xxxxx Xxxxxx, XX 00000
Telecopy: 000-000-0000
Norwest Bank Minnesota, N.A. $ 50,000,000
Sixth and Marquette
Xxxxxxxxxxx, XX 00000-0000
Telecopy: 000-000-0000
TOTAL $3,000,000,000
