AMENDMENT NO. 3 TO AMENDED AND RESTATED CREDIT, SECURITY AND PLEDGE AGREEMENT
Exhibit 10.1
Execution Version
AMENDMENT NO. 3 TO
AMENDED AND RESTATED CREDIT, SECURITY AND PLEDGE AGREEMENT
This Amendment No. 3 to the Amended and Restated Credit, Security and Pledge Agreement (this “Amendment”), is being entered into as of June 27, 2025, among the Borrowers (as defined in the Credit Agreement, as defined below), the Parents (as defined in the Credit Agreement, as defined below), the Required Lenders (as defined below), and Fifth Third Bank, a National Association, as Administrative Agent (as defined in the Credit Agreement).
RECITALS
This Amendment is being entered into in reference to the following facts:
A.The Borrowers, the Parents, the Lenders and the Administrative Agent entered into an Amended and Restated Credit, Security and Pledge Agreement, dated as of November 5, 2024, amended by Amendment No. 1 to the Amended and Restated Credit, Security and Pledge Agreement, dated as of December 9, 2024; Amendment No. 2 to the Amended and Restated Credit, Security and Pledge Agreement, dated as of March 31, 2025 (as such agreement may be further amended, supplemented or otherwise modified, renewed, restated or replaced from time to time, the “Credit Agreement”). All terms used but not defined herein have the meanings assigned to them in the Credit Agreement.
B.Prior to the Third Amendment Effective Date, Section 5.1(b) of the Credit Agreement required each Borrower to provide to the Administrative Agent the unaudited consolidated balance sheet of Lionsgate and its Consolidated Subsidiaries, certain related unaudited consolidated financial statements, and a Statement of Defined Assets and Liability and Statement of Revenue and Defined Expenses of the Collateral within sixty (60) days after the end of each fiscal quarter (collectively, the “Quarterly Financials”).
C.The Borrowers failed to provide to the Administrative Agent its complete Quarterly Financials for the fiscal quarter ending March 31, 2025 within 60 days following March 31, 2025, the failure to timely deliver the Quarterly Financials for the fiscal quarter ending March 31, 2025 is hereinafter referred to herein as the “March 2025 Quarterly Financials Default.”
D.The Borrowers have requested that the Administrative Agent and the Required Lenders (as defined below) waive the March 2025 Quarterly Financials Default and amend certain terms of the Credit Agreement as provided herein.
E.The Administrative Agent and the Lenders party hereto (which constitute Required Lenders under the Credit Agreement) (the “Required Lenders”) have agreed to waive the March 2025 Quarterly Financials Default and amend the terms of the Credit Agreement as provided herein, to the extent set forth below.
NOW, THEREFORE, in consideration of the mutual covenants contained herein, the Borrowers, the Parents, the Required Lenders party hereto and the Administrative Agent each hereby agree as follows.
ARTICLE 1 – AMENDMENTS AND WAIVER
1.1Amendments to the Credit Agreement. Effective on the Third Amendment Effective Date, the Credit Agreement shall be amended to delete the stricken text (indicated textually in the same manner as the following example: stricken text) and to add the double-underlined text (indicated textually in the same manner as the following example: double-underlined text) as set forth in the amendments to Credit Agreement attached as Annex A hereto.
1.2 Waiver. Effective on the Third Amendment Effective Date, subject to the satisfaction of the conditions set forth in Section 2 hereof, the Administrative Agent and the Required Lenders party hereto hereby waive: (a) the March 2025 Quarterly Financials Default, and (b) any Event of Default and any other breaches, defaults, rights or remedies that does, would or might otherwise exist, in each case, solely as a result of the March 2025 Quarterly Financials Default.
ARTICLE 2 – CONDITIONS
2.1 Conditions to Effectiveness. This Amendment shall become effective immediately upon the satisfaction in full of each of the conditions precedent set forth in this Section 2.1 (the “Third Amendment Effective Date”):
(a)the Administrative Agent shall have received counterparts of this Amendment executed by the Borrowers, the Parents and the Required Lenders;
(b)the Administrative Agent shall have received such additional documents as the Administrative Agent or its counsel may reasonably request;
(c)immediately before and immediately after giving effect to this Amendment, no Event of Default or Default is occurring or shall have occurred and be occurring; and
(d)the representations and warranties contained in Article 3 shall be true and correct.
ARTICLE 3 – REPRESENTATIONS AND WARRANTIES
3.1 Credit Agreement Representations and Warranties. Each Borrower and each Parent represents and warrants to the Administrative Agent and to the Lenders that immediately before and immediately after giving effect to this Amendment, the representations and warranties contained in Article 3 of the Credit Agreement (as the Credit Agreement is being modified pursuant to this Amendment), and in the other Fundamental Documents, are true and correct in all material respects on and as of the date hereof as if such representations and warranties had been made on and as of the date hereof (except to the extent that such representations and warranties expressly relate to an earlier date, in which case such representations and warranties shall be true and correct as of such earlier date with the same effect as if made on and as of such date.
3.2 Borrower and Parent Authority. Each Borrower and each Parent represents and warrants to the Administrative Agent and to the Lenders that it has the company power and authority to execute this Amendment and that any company action requisite to its execution and performance of this Amendment has been undertaken on its part.
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ARTICLE 4 – MISCELLANEOUS
4.1 Further Assurances. At any time and from time to time, upon the Administrative Agent’s request and at the sole expense of the Borrowers, each Borrower and each Parent will promptly and duly execute and deliver any and all further instruments and documents and take such further action as the Administrative Agent reasonably deems necessary to effect the purposes of this Amendment.
4.2 Fundamental Documents. This Amendment constitutes a Fundamental Document.
4.3 Full Force and Effect. Except as expressly set forth herein, this Amendment does not constitute a waiver or a modification of any provision of the Credit Agreement or any other Fundamental Document or a waiver of any Event of Default under the Credit Agreement or any other Fundamental Document. Except to the extent amended hereby, the Credit Agreement and the other Fundamental Documents shall continue in full force and effect in accordance with the provisions thereof on the date hereof and are hereby ratified and affirmed. As used in the Credit Agreement, the terms “Credit Agreement,” “this Credit Agreement,” “herein,” “hereafter,” “hereto,” “hereof” and words of similar import, shall, unless the context otherwise requires, mean the Credit Agreement as modified by this Amendment.
4.4 References. This Amendment shall be limited precisely as written, and, except to the extent expressly set forth herein, shall not be deemed (a) to be a consent granted pursuant to, or a waiver or modification of, any other term or condition of the Credit Agreement, any other Fundamental Document or any of the instruments or agreements referred to therein or (b) to prejudice any right or rights which the Administrative Agent or the Lenders may now have or have in the future under or in connection with the Credit Agreement, any other Fundamental Document or any of the instruments or agreements referred to therein. Whenever the Credit Agreement is referred to in the Credit Agreement or any other Fundamental Document or any of the instruments, agreements or other documents or papers executed or delivered in connection therewith, such reference shall be deemed to mean the Credit Agreement as modified by this Amendment.
4.5 Choice of Law. This Amendment shall in all respects be construed in accordance with, and governed by, the laws of the state of New York which are applicable to contracts made and to be performed wholly within such state.
4.6 Counterparts. This Amendment may be executed by facsimile or electronically by PDF or TIFF file and in any number of counterparts, each of which shall constitute an original, but all of which when taken together shall constitute but one instrument.
4.7 Headings. The headings of this Amendment are for the purposes of reference only and shall not affect the construction of this Amendment.
4.8 Expenses. The Borrowers shall pay all out of pocket expenses incurred by the Administrative Agent in connection with the preparation, execution and delivery of this Amendment, including, but not limited to, the reasonable fees and disbursements of outside counsel for the Administrative Agent.
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4.9 FATCA Status. For purposes of determining withholding Taxes imposed under FATCA, from and after the effective date of this Amendment, the Borrowers and the Administrative Agent shall treat (and the Lenders hereby authorize the Administrative Agent to treat) the Credit Agreement as not qualifying as a “grandfathered obligation” within the meaning of Treasury Regulation Section 1.1471-2(b)(2)(i).
4.10 Guarantors. By executing this Amendment, each Guarantor hereby acknowledges, consents and agrees that all of its obligations and liability under the Credit Agreement remain in full force and effect, and that the execution and delivery of this Amendment and any and all documents executed in connection therewith shall not alter, amend, reduce or modify its obligations and liability under the Credit Agreement except as amended by this Amendment.
[Signature Pages to Follow]
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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by their duly authorized signatories, all as of the date and year first above written.
BORROWERS:
LGTV LIBRARY FINANCING LLC
By: /s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇
Name: ▇▇▇▇▇▇ ▇▇▇▇▇▇
Title: President and Secretary
Name: ▇▇▇▇▇▇ ▇▇▇▇▇▇
Title: President and Secretary
ARTISAN LIBRARY FINANCING LLC
By: /s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇
Name: ▇▇▇▇▇▇ ▇▇▇▇▇▇
Title: President and Secretary
Name: ▇▇▇▇▇▇ ▇▇▇▇▇▇
Title: President and Secretary
SUMMIT LIBRARY FINANCING LLC
By: /s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇
Name: ▇▇▇▇▇▇ ▇▇▇▇▇▇
Title: President and Secretary
Name: ▇▇▇▇▇▇ ▇▇▇▇▇▇
Title: President and Secretary
LG FILM LIBRARY FINANCING LLC
By: /s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇
Name: ▇▇▇▇▇▇ ▇▇▇▇▇▇
Title: President and Secretary
Name: ▇▇▇▇▇▇ ▇▇▇▇▇▇
Title: President and Secretary
LGIM LIBRARY UK FINANCING LIMITED
By: /s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇
Name: ▇▇▇▇▇▇ ▇▇▇▇▇▇
Title: Director
Name: ▇▇▇▇▇▇ ▇▇▇▇▇▇
Title: Director
By: /s/ ▇▇▇▇▇ ▇▇▇▇▇
Name: ▇▇▇▇▇ ▇▇▇▇▇
Title: Director
(Signature Page to Amendment No. 3)
PARENTS:
LGTV LIBRARY HOLDCO LLC
By: /s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇
Name: ▇▇▇▇▇▇ ▇▇▇▇▇▇
Title: President and Secretary
Name: ▇▇▇▇▇▇ ▇▇▇▇▇▇
Title: President and Secretary
ARTISAN LIBRARY HOLDCO LLC
By: /s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇
Name: ▇▇▇▇▇▇ ▇▇▇▇▇▇
Title: President and Secretary
Name: ▇▇▇▇▇▇ ▇▇▇▇▇▇
Title: President and Secretary
SUMMIT LIBRARY HOLDCO LLC
By: /s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇
Name: ▇▇▇▇▇▇ ▇▇▇▇▇▇
Title: President and Secretary
Name: ▇▇▇▇▇▇ ▇▇▇▇▇▇
Title: President and Secretary
LG FILM LIBRARY HOLDCO LLC
By: /s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇
Name: ▇▇▇▇▇▇ ▇▇▇▇▇▇
Title: President and Secretary
Name: ▇▇▇▇▇▇ ▇▇▇▇▇▇
Title: President and Secretary
LGIM LIBRARY UK HOLDCO LIMITED
By: /s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇
Name: ▇▇▇▇▇▇ ▇▇▇▇▇▇
Title: Director
Name: ▇▇▇▇▇▇ ▇▇▇▇▇▇
Title: Director
By: /s/ ▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇
Name: ▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇
Title: Director
Name: ▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇
Title: Director
(Signature Page to Amendment No.3)
ADMINISTRATIVE AGENT:
FIFTH THIRD BANK, National Association
as Administrative Agent
By: /s/ ▇▇▇▇▇ ▇▇▇▇▇▇
Name: ▇▇▇▇▇ ▇▇▇▇▇▇
Title: Executive Director
RESERVE DEPOSIT AGENT:
EAST WEST BANK, a California corporation
as Reserve Deposit Agent
By: /s/ ▇▇▇▇ ▇▇▇▇▇
Name: ▇▇▇▇ ▇▇▇▇▇
Title: Senior Vice President
Name: ▇▇▇▇ ▇▇▇▇▇
Title: Senior Vice President
LENDER:
FIFTH THIRD BANK, National Association
as a Lender
By: /s/ ▇▇▇▇▇ ▇▇▇▇▇▇
Name: ▇▇▇▇▇ ▇▇▇▇▇▇
Title: Executive Director
LENDER:
EAST WEST BANK, a California corporation,
as a Lender
By: /s/ ▇▇▇▇ ▇▇▇▇▇
Name: ▇▇▇▇ ▇▇▇▇▇
Title: Senior Vice President
Name: ▇▇▇▇ ▇▇▇▇▇
Title: Senior Vice President
(Signature Page to Amendment No.3)
LENDER:
WESTERN ALLIANCE BANK,
as a Lender
By: /s/ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇
Name: ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇
Title: Vice President
Name: ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇
Title: Vice President
LENDER:
FIRST-CITIZENS BANK & TRUST COMPANY,
as a Lender
By: /s/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇
Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇
Title: VP Sr. Underwriter Portfolio Manager- TMT
Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇
Title: VP Sr. Underwriter Portfolio Manager- TMT
LENDER:
ZIONS BANCORPORATION, N.A. dba CALIFORNIA BANK AND TRUST,
as a Lender
By: /s/ ▇▇▇▇▇ ▇▇▇▇▇▇
Name: ▇▇▇▇▇ ▇▇▇▇▇▇
Title: Senior Vice President
Name: ▇▇▇▇▇ ▇▇▇▇▇▇
Title: Senior Vice President
LENDER:
TRUIST BANK,
as a Lender
By: /s/ ▇▇▇▇ ▇. ▇▇▇▇▇
Name: ▇▇▇▇ ▇. ▇▇▇▇▇
Title: Director
Name: ▇▇▇▇ ▇. ▇▇▇▇▇
Title: Director
(Signature Page to Amendment No.3)
LENDER:
▇▇▇▇▇ FARGO BANK, N.A.,
as a Lender
By: /s/ ▇▇▇▇ ▇▇▇▇▇▇▇
Name: ▇▇▇▇ ▇▇▇▇▇▇▇
Title: Executive Director
Name: ▇▇▇▇ ▇▇▇▇▇▇▇
Title: Executive Director
LENDER:
PREFERRED BANK,
as a Lender
By: /s/ ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇
Name: ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇
Title: Senior Vice President
Name: ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇
Title: Senior Vice President
LENDER:
TEXAS CAPITAL BANK,
as a Lender
By: /s/ ▇▇▇▇ ▇▇▇▇
Name: ▇▇▇▇ ▇▇▇▇
Title: Managing Director
LENDER:
FLAGSTAR BANK, N.A.,
as a Lender
By: /s/ ▇▇▇▇ ▇▇▇▇▇▇▇▇
Name: ▇▇▇▇ ▇▇▇▇▇▇▇▇
Title: Director
(Signature Page to Amendment No. 3)
LENDER:
BANK OF HOPE,
as a Lender
By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇
Name: ▇▇▇▇▇ ▇. ▇▇▇▇▇
Title: Senior Vice President
Name: ▇▇▇▇▇ ▇. ▇▇▇▇▇
Title: Senior Vice President
LENDER:
SUNFLOWER BANK, NATIONAL ASSOCIATION,
as a Lender
By: /s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇
Name: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇
Title: Senior Vice President,
Name: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇
Title: Senior Vice President,
Managing Group Director
LENDER:
CITY NATIONAL BANK,
as a Lender
By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
Title: Senior Vice President
Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇
Title: Senior Vice President
LENDER:
AXOS BANK,
as a Lender
By: /s/ ▇▇▇▇▇ ▇▇▇▇
Name: ▇▇▇▇▇ ▇▇▇▇
Title: President
(Signature Page to Amendment No. 3)
