Exhibit 10.2

EXECUTION COPY

FIRST AMENDMENT

     FIRST AMENDMENT, dated as of September 29, 2003 (this “Amendment”), to each
of (i) the Credit Agreement, dated as of June 13, 2003 (such Credit Agreement,
as amended, supplemented or otherwise modified from time to time, the “Credit
Agreement”), among TRITON PCS, INC., a Delaware corporation (the “Borrower”),
TRITON PCS HOLDINGS, INC., a Delaware corporation (“Holdings”), the Lenders
parties thereto, LEHMAN COMMERCIAL PAPER INC., as Administrative Agent, COBANK,
ACB, as Co-Syndication Agent, CITICORP NORTH AMERICA, INC., as Co-Syndication
Agent, CHASE LINCOLN FIRST COMMERCIAL CORPORATION, as Co-Documentation Agent,
and MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED, as Co-Documentation
Agent, (ii) the Guarantee Agreement, dated as of June 13, 2003 (such Guarantee
Agreement, as amended, supplemented or otherwise modified from time to time, the
“Guarantee Agreement”) made by each subsidiary listed on Schedule I thereto (the
“Subsidiary Loan Parties”) in favor of the Administrative Agent for the benefit
of the Secured Parties (as defined therein), (iii) the Pledge Agreement, dated
as of June 13, 2003 (such Pledge Agreement, as amended, supplemented or
otherwise modified from time to time, the “Pledge Agreement”) among the
Borrower, Holdings, the Subsidiary Loan Parties and the Administrative Agent for
the benefit of the Secured Parties and (iv) the Security Agreement, dated as of
June 13, 2003 (such Security Agreement, as amended, supplemented or otherwise
modified from time to time, the “Security Agreement”) among the Borrower, the
Subsidiary Loan Parties and the Administrative Agent for the benefit of the
Secured Parties.

W I T N E S S E T H:

     WHEREAS, the Borrower, Holdings, the Lenders, the Administrative Agent, the
Co-Syndication Agents and the Co-Documentation Agents are parties on the date
hereof to the Credit Agreement;

     WHEREAS, the Subsidiary Loan Parties and the Administrative Agent are
parties on the date hereof to the Guarantee Agreement;

     WHEREAS, the Borrower, Holdings, the Subsidiary Loan Parties and the
Administrative Agent are parties on the date hereof to the Pledge Agreement;

     WHEREAS, the Borrower, the Subsidiary Loan Parties and the Administrative
Agent are parties on the date hereof to the Security Agreement; and

     WHEREAS, the parties hereto wish to amend each of the Credit Agreement, the
Guarantee Agreement, the Pledge Agreement and the Security Agreement on the
terms and subject to the conditions set forth herein;

 

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     NOW, THEREFORE, in consideration of the premises and mutual agreements
contained herein, and for other valuable consideration the receipt of which is
hereby acknowledged, the parties hereto hereby agree as follows:

     1.     Definitions. All defined terms used herein shall have the meanings
set forth in the Credit Agreement unless otherwise defined herein.

     2.     Amendment to Section 1.01 of the Credit Agreement (Defined Terms).

               (a) Section 1.01 of the Credit Agreement is hereby amended by
deleting the period at the end of the definition of “Hedging Agreement” and
inserting in lieu thereof the following: “, including, without limitation, any
interest rate swap agreement or similar agreement that provides for the payment
by Holdings, the Borrower or any of its Subsidiaries of (i) amounts based upon a
floating rate in exchange for receipt by Holdings, the Borrower or such
Subsidiary of amounts based upon a fixed rate or (ii) amounts based upon a fixed
rate in exchange for receipt by Holdings, the Borrower or such Subsidiary of
amounts based upon a floating rate.”

               (b) Section 1.01 of the Credit Agreement is hereby amended by
deleting the second sentence of the definition of “Lenders”.

     3.     Amendment to Section 6.02 of the Credit Agreement (Liens). Section
6.02(ix) of the Credit Agreement is hereby amended by deleting the reference to
“Hedging Obligations” and inserting in lieu thereof the words “Hedging
Agreements”.

     4.     Amendment to Section 6.07 of the Credit Agreement (Hedging
Agreements). Section 6.07 of the Credit Agreement is hereby amended by inserting
the following new sentence at the end thereof: “For the avoidance of doubt,
Holdings, the Borrower and any Subsidiary may enter into any Hedging Agreement
in respect of interest rates, including, without limitation, any such agreement
that provides for the payment by Holdings, the Borrower or any of its
Subsidiaries of (i) amounts based upon a floating rate in exchange for receipt
by Holdings, the Borrower or such Subsidiary of amounts based upon a fixed rate
or (ii) amounts based upon a fixed rate in exchange for receipt by Holdings, the
Borrower or such Subsidiary of amounts based upon a floating rate; provided that
the aggregate notional amount of Indebtedness or other obligations related to
Hedging Agreements of the type specified in clause (i) of this sentence shall
not exceed $500,000,000 in the aggregate.”

     5.     Amendment to Guarantee Agreement.

               (a) Section 1 of the Guarantee Agreement is hereby amended by
inserting the following new sentence at the end of the first paragraph of such
Section 1: “For the avoidance of doubt, the term “Lender” as used in clause
(c) of the first sentence of this paragraph shall also include each Person that
both (y) is a counterparty to a Hedging Agreement with a Loan Party and (z) was
a Lender or an Affiliate of a Lender at the time such Hedging Agreement was
entered into and the term “Secured Party” as used in this Guarantee Agreement
shall include each such Affiliate.”

 

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               (b) Section 21 of the Guarantee Agreement is hereby amended by
deleting the reference to “Lender” where it appears in the last sentence of such
Section 21 and inserting in lieu thereof “Secured Party”.

     6.     Amendment to Pledge Agreement. The Pledge Agreement is hereby
amended by inserting the following new sentence at the end of the second
paragraph of the preliminary statement: “For the avoidance of doubt, the term
“Lender” as used in clause (d) of the third sentence of this paragraph shall
also include each Person that both (y) is a counterparty to a Hedging Agreement
with a Loan Party and (z) was a Lender or an Affiliate of a Lender at the time
such Hedging Agreement was entered into and the term “Secured Party” as used in
this Pledge Agreement shall include each such Affiliate.”

     7.     Amendment to Security Agreement.

               (a) The Security Agreement is hereby amended by inserting the
following new sentence at the end of the second paragraph of the preliminary
statement: “For the avoidance of doubt, the term “Lender” as used in clause
(d) of the third sentence of this paragraph shall also include each Person that
both (y) is a counterparty to a Hedging Agreement with a Loan Party and (z) was
a Lender or an Affiliate of a Lender at the time such Hedging Agreement was
entered into.”

               (b) Section 1.02 of the Security Agreement is hereby amended by
inserting the following after the word “Lender” in clause (d) of the definition
of “Secured Parties:” “or an Affiliate of a Lender”.

     8.     Representations; No Default. On and as of the date hereof, and after
giving effect to this Amendment, (i) each of Holdings and the Borrower certifies
that no Default or Event of Default has occurred or is continuing, and (ii) each
of Holdings and the Borrower confirms, reaffirms and restates that the
representations and warranties set forth in Article III of the Credit Agreement
and in the other Loan Documents are true and correct in all material respects.

     9.     Conditions to Effectiveness. This Amendment shall become effective
on and as of the date that the Administrative Agent shall have received
counterparts of this Amendment, duly executed and delivered by a duly authorized
officer of each of the Required Lenders, the Borrower, Holdings, and each of the
Subsidiary Loan Parties.

     10.     Limited Amendment. This Amendment shall not be deemed to be a
waiver of, or consent to, or a modification or amendment of, any term or
condition of any other Loan Document or to prejudice any other right or rights
which the Lenders may now have or may have in the future under or in connection
with the Credit Agreement or any of the instruments or agreements referred to
therein, as the same may be amended from time to time.

     11.     Counterparts. This Amendment may be executed by one or more of the
parties hereto in any number of separate counterparts and all of said
counterparts taken together shall be deemed to constitute one and the same
instrument.

 

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     12.     GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED
AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

 

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     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.

              TRITON PCS, INC.               By:   /s/ Daniel E. Hopkins        

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        Name: Daniel E. Hopkins         Title: SVP of Finance and Treasurer    
          TRITON PCS HOLDINGS, INC.               By:   /s/ Daniel E. Hopkins  
     

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        Name: Daniel E. Hopkins         Title: SVP of Finance and Treasurer    
          TRITON MANAGEMENT COMPANY, INC.               By:   /s/ Daniel E.
Hopkins        

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        Name: Daniel E. Hopkins         Title: SVP of Finance and Treasurer    
          TRITON PCS FINANCE COMPANY, INC.               By:   /s/ Daniel E.
Hopkins        

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        Name: Daniel E. Hopkins         Title: SVP of Finance and Treasurer    
          TRITON PCS HOLDINGS COMPANY L.L.C.     TRITON PCS OPERATING COMPANY
L.L.C.     TRITON PCS EQUIPMENT COMPANY L.L.C.     TRITON PCS INVESTMENT COMPANY
L.L.C.               By:   TRITON MANAGEMENT COMPANY,
INC., its manager               By:   /s/ Daniel E. Hopkins        

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        Name: Daniel E. Hopkins         Title: SVP of Finance and Treasurer

[Signature Page to Triton Amendment]

 

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              LEHMAN COMMERCIAL PAPER INC.,     individually and as
Administrative Agent               By: /s/ G. Robert Berzins

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Name: G. Robert Berzins     Title: Vice President               COBANK, ACB,
individually and as     Co-Syndication Agent               By:   /s/Christopher
J. Mott        

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        Name: Christopher J. Mott         Title: Vice President              
CITICORP NORTH AMERICA, INC.,     individually and as Co-Syndication Agent      
        By:   /s/ John P. Judge        

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        Name: John P. Judge         Title: Vice President               CHASE
LINCOLN FIRST     COMMERCIAL CORPORATION, individually and as    
Co-Documentation Agent               By:            

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        Name:         Title:               MERRILL LYNCH, PIERCE, FENNER &    
SMITH INCORPORATED, as Co-Documentation Agent               By:   /s/ Arthur J.
Lafaire        

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        Name: Arthur J. Lafaire         Title: Vice President

[Signature Page to Triton Amendment]

 

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              MERRILL LYNCH CAPITAL CORPORATION               By:   /s/ Arthur
J. Lafaire        

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        Name: Arthur J. Lafaire         Title: Vice President              
COÖPERATIEVE CENTRALE
RAIFFEISEN-BOERENLEEN BANK B.A.,
“RABOBANK NEDERLAND”, NEW YORK BRANCH               By:   /s/ Douglas W. Zylstra
       

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        Name: Douglas W. Zylstra         Title: Senior Vice President          
    By:   /s/ Ian Reece        

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        Name: Ian Reece         Title: Managing Director               NATIONAL
CITY BANK               By:   /s/ Mike Grimes        

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        Name: Mike Grimes         Title:

[Signature Page to Triton Amendment]