FairPoint Communications 2009 Annual Report Download - page 262

Exhibit 10.16
TENTH AMENDMENT
This TENTH AMENDMENT, dated as of March 9, 2010 (this “ Agreement”), to the Debtor-in-Possession Credit Agreement, dated as of
October 27, 2009 (as amended prior to the date hereof, the “ Credit Agreement”), by and among FAIRPOINT COMMUNICATIONS, INC., a Delaware
corporation and a debtor and debtor-in-possession under Chapter 11 of the Bankruptcy Code (as hereinafter defined) (“ FairPoint”), FAIRPOINT
LOGISTICS, INC., a South Dakota corporation and a debtor and debtor-in-possession under Chapter 11 of the Bankruptcy Code (“ Logistics”; Logistics,
together with FairPoint, each a “Borrower” and, collectively, the “Borrowers”), the lenders from time to time party thereto (the “ Lenders”), and BANK OF
AMERICA, N.A., as Administrative Agent (in such capacity, together with any successor administrative agent, the “ Administrative Agent”). Capitalized
terms used herein and not otherwise defined herein shall have the meanings assigned to such terms in the Credit Agreement.
WHEREAS, the Borrowers have requested that the Administrative Agent and the Required Lenders amend certain provisions of the Credit
Agreement.
NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto
agree as follows:
SECTION 1. Amendments.
1.1 Section 5.08 of the Credit Agreement is hereby amended by adding a new proviso at the end of the first sentence thereof that reads as
follows:
“; provided, however, the foregoing representation and warranty is qualified to give effect to FairPoint’s disclosure set forth in its
Form 8-K filed with the Securities and Exchange Commission on February 23, 2010.”
1.2 Section 5.09(a) of the Credit Agreement is hereby amended by adding a new proviso at the end of the last sentence thereof that reads as
follows:
“; provided, however, the foregoing representation and warranty in clause (iii) is qualified to give effect to FairPoint’s disclosure
set forth in its Form 8-K filed with the Securities and Exchange Commission on February 23, 2010.”
1.3 Section 6.01 of the Credit Agreement is hereby amended by adding a new clause (k) at the end thereof which reads as follows:
“(k) Intercompany Debt. (i) On or prior to May 30, 2010, an Intercompany Debt Report for the fiscal month ending March
31, 2010 and for the period commencing on the Petition Date and ending on the last day of the fiscal month ending March 31, 2010, (ii) on
or prior to June 15, 2010, an Intercompany Debt Report for the fiscal month ending April 30, 2010, (iii) on or prior to June 30, 2010, an
Intercompany Debt Report for the fiscal month ending May 31, 2010 and (iv) at the time of the delivery of the financial statements provided
for in