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CCMO > SEC Filings for CCMO > Form 8-K on 23-Oct-2013All Recent SEC Filings

Show all filings for CC MEDIA HOLDINGS INC

Form 8-K for CC MEDIA HOLDINGS INC


23-Oct-2013

Other Events, Financial Statements and Exhibits


Item 8.01 Other Events

In accordance with the terms of the Stipulation of Settlement, dated July 8, 2013, among Clear Channel Outdoor Holdings, Inc. ("CCOH"), a special litigation committee consisting of certain independent directors of CCOH, Clear Channel Communications, Inc., the indirect parent company of CCOH ("CCU"), and the other parties thereto, on October 23, 2013, CCOH and CCU amended (the "Second Amendment") that certain Revolving Promissory Note dated November 10, 2005 (as previously amended by the First Amendment entered into on December 23, 2009, the "Note"), between CCU, as maker, and CCOH, as payee. In connection therewith, the interest rate on the Note was amended such that if the outstanding balance due under the Note exceeds $1.0 billion and under certain other circumstances tied to CCU's liquidity, the rate will be variable but will in no event be less than 6.5% nor greater than 20%. CCU is an indirect wholly owned subsidiary of CC Media Holdings, Inc. and CCOH is an indirect non-wholly owned subsidiary of CC Media Holdings Inc.

A copy of the Second Amendment is filed as Exhibit 10.1 and is incorporated herein by reference.



Item 9.01 Financial Statements and Exhibits

(d) Exhibits

10.1 Second Amendment, dated as of October 23, 2013, to the Revolving Promissory Note, dated as of November 10, 2005, by Clear Channel Communications, Inc., as maker, to Clear Channel Outdoor Holdings, Inc., as payee (incorporated by reference to Exhibit 10.1 to the Clear Channel Communications, Inc. Current Report on Form 8-K filed on October 23, 2013).


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