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SEC Filings

SC 13D/A
ALLEN PAUL G filed this Form SC 13D/A on 12/20/1999
Entire Document
 
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  Credit Agreement between Mr. Allen and Citibank
 
     Pursuant to a Credit Agreement, dated as of September 20,1999 (the
"Citibank Agreement"), between Mr. Allen and Citibank, N.A., Mr. Allen has a
$500,000,000 revolving credit facility, for the purpose of funding the
investment in Charter Holdco, among other investments, working capital and
business purposes. The term of the loans is five years, provided that in the
event Mr. Allen or any affiliate exchanges Class B Common Stock or Class B
Common Stock Equivalents purchased with the proceeds of the loans under the
Citibank Agreement, the amount of such loans must be immediately repaid. Mr.
Allen secured his obligations under the Citibank Agreement through a pledge of
certain assets which do not include interests in the Issuer, CII or Vulcan.
 
     The foregoing description of the Citibank Agreement is not, and does not
purport to be, complete and is qualified in its entirety by reference to the
Citibank Agreement, a copy of which is filed herewith as Exhibit 10.2 hereto and
incorporated in its entirety by reference.
 
  The Margin Facility
 
     The Margin Facility provides for loans by BT Alex. Brown to Mr. Allen under
BT Alex. Brown's standard Customer Agreement at a variable interest rate of
 1/2% to 2% above the prevailing call money rate of the relevant interest
computation period. The loans are secured by Mr. Allen's securities maintained
with BT Alex. Brown ("Margin Securities"). BT Alex. Brown may, in accordance
with its general policies regarding margin maintenance requirements, or
otherwise in its discretion or upon the occurrence of certain events specified
in the Customer Agreement, sell Margin Securities and take other actions with
respect to Mr. Allen's accounts in order to provide BT Alex. Brown with
additional collateral. The Margin Facility has no stated maturity, and BT Alex.
Brown may request repayment of all loan balances on demand.
 
     The foregoing description of the Customer Agreement is not, and does not
purport to be, complete and is qualified in its entirety by reference to the
Customer Agreement, a copy of which is filed herewith as Exhibit 10.3 hereto and
incorporated in its entirety by reference.
 




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