HICKORY TECH CORP
10-Q, EX-4, 2000-08-11
TELEPHONE COMMUNICATIONS (NO RADIOTELEPHONE)
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Exhibit 4


FIRST AMENDMENT

    THIS FIRST AMENDMENT (the "Amendment") to the Credit Agreement referred to below is entered into as of the 30th day of May, 2000, by and among HICKORY TECH CORPORATION, a Minnesota corporation (the "Borrower"), the Lenders' party hereto, and FIRST UNION NATIONAL BANK, a national banking association, as Administrative Agent for the Lenders.


STATEMENT OF PURPOSE

    The Borrower and the Lenders are parties to a certain Amended and Restated Credit Agreement dated as of May 28, 1999, (as amended hereby, and as may from time to time be further amended, restated or otherwise modified, the "Credit Agreement"), pursuant to which the Lenders have agreed to make, and have made, certain Extensions of Credit.

    The Borrower has requested that the Credit Agreement be amended in the manner set forth herein in order to modify, among other things, the definition of Aggregate Commitment. In addition, the Borrower has requested, among other things, that the Lenders consent to the use of the increase in the Aggregate Commitment to repay the Senior Notes and waive the mandatory commitment reduction (and any corresponding repayment) required as a result of such repayment.

    The Lenders are willing to agree to the requested amendments, but only upon the terms and conditions of this Amendment.

    NOW, THEREFORE, in consideration of the premises and mutual agreements contained herein, the parties hereto hereby agree as follows:

     I.  Amendment to Article I.  Section 1.1 is hereby amended by adding the following sentence to the definition of Aggregate Commitment: "As of May 30th, 2000, the Aggregate Commitment shall be One Hundred Twenty-Five Million Dollars and No/100 ($125,000,000)."

     II.  Amendment to Article II.  Section 2.7 is hereby amended by inserting the phrase "including the Senior Notes," after the word Debt in clause (b) of such Section.

    III.  Waiver.  The Lenders hereby waive any commitment reduction required pursuant to Section 2.5(b)(i) (and any corresponding repayment required pursuant to Section 2.3(b)(ii)) solely as a result of the repayment of the Senior Notes.

    IV.  Updated Schedule 1.  Attached hereto is an updated Schedule 1 to the Credit Agreement revised to reflect the increase in the Aggregate Commitment. The Credit Agreement is hereby amended to substitute Schedule 1 attached hereto in place of Schedule 1 to the Credit Agreement.

     V.  Confirmation; Conditions to Effectiveness.  



    VI.  Post-Closing Requirement.  No later than June 15th, 2000, the Borrower shall have delivered to the Administrative Agent evidence satisfactory thereto of the repayment in full and termination of the Senior Notes.

   VII.  General Provisions.  

[Signature Pages Follow]


    IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed and delivered by their respective duly authorized officers as of the date first above written.

    HICKORY TECH CORPORATION
 
[CORPORATE SEAL]
 
 
 
By:
 
 
 

    Name:   David A. Christensen
    Title:   Vice-President and Chief Financial Officer
 
 
 
 
 
FIRST UNION NATIONAL BANK,
as Administrative Agent and Lender
 
 
 
 
 
By:
 
 
 

    Name:  
    Title:  
 
 
 
 
 
COBANK, as Lender
 
 
 
 
 
By:
 
 
 

    Name:  
    Title:  
 
 
 
 
 
US BANK NATIONAL ASSOCIATION,
as Lender
 
 
 
 
 
By:
 
 
 

    Name:  
    Title:  


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FIRST AMENDMENT
STATEMENT OF PURPOSE


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