Cablevision 2012 Annual Report Download - page 89

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commitments of certain new term A lenders, with the effect being to create the Term A-4 extended loan
facility, providing for $600,000 of extended term A loans with a final maturity date of December 31,
2016. Lenders under the Term A-4 extended loan facility are entitled to an extension fee payment of
between 1.50% and 2.50% per annum of the outstanding extended facility loans under the Term A-4
extended loan facility, based upon the Cash Flow Ratio applicable from time to time; provided that until
June 2012 the extension fee shall remain at 2.00% per annum. The Company incurred deferred financing
costs of $4,490, which are being amortized to interest expense over the term of the facility. A portion of
the proceeds from the Term A-4 extended loan facility was used to repay the outstanding balances of the
Term A-1 loan facility and Term B loan facility. In connection with the repayments, the Company
recorded a write-off of the remaining unamortized deferred financing costs associated with the Term A-1
loan facility and Term B loan facility of approximately $470.
In December 2012, the Company utilized $275,000 of the proceeds received from the litigation settlement
with DISH Network (see Note 20) to make a prepayment on the B-2 extended loan facility.
Loans under the Restricted Group credit facility are direct obligations of CSC Holdings, guaranteed by
most Restricted Group subsidiaries and secured by the pledge of the stock of most Restricted Group
subsidiaries.
Credit Facility Repayments
The extended revolving loan facility has no required interim repayments. The Term A-3 extended loan
facility is subject to quarterly repayments of approximately $18,213 through March 2013, approximately
$24,284 beginning in June 2013 through March 2014 and approximately $54,640 beginning in June 2014
through its maturity date in March 2015. The principal amount of the Term A-4 extended loan facility
will be repaid beginning in March 2013 in quarterly installments of $7,500 through December 2013,
$15,000 through December 2015, $30,000 through September 2016, and a final principal repayment of
$360,000 in December 2016. The Term B-2 extended loan facility is subject to quarterly repayments of
approximately $1,871 through December 2015 and a final payment of approximately $675,357 upon
maturity in March 2016. The Term B-3 extended loan facility is subject to quarterly repayments of
approximately $4,196 through December 2015 and a final payment of approximately $1,581,933 upon
maturity in March 2016. The borrowings under the Restricted Group credit facility may be repaid
without penalty at any time.