EXHIBIT 10.1

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TRANCHE D TERM LOAN AGREEMENT

dated as of

August 12, 2004

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LAMAR MEDIA CORP.

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JPMORGAN SECURITIES INC.
as Sole Lead Arranger and Sole Bookrunner

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JPMORGAN CHASE BANK,
as Administrative Agent

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TRANCHE D TERM LOAN AGREEMENT

          TRANCHE D TERM LOAN AGREEMENT dated as of August 12, 2004 between
LAMAR MEDIA CORP. (the “Borrower”), the SUBSIDIARY GUARANTORS party hereto (the
“Subsidiary Guarantors”), the TRANCHE D TERM LOAN LENDERS party hereto
(including each Tranche D Lender as defined below that becomes a party hereto
pursuant to a Lender Addendum as defined below and JPMORGAN CHASE BANK, as
Administrative Agent for the lenders (in such capacity, together with its
successors in such capacity, the “Administrative Agent”).

          The Borrower, the Subsidiary Guarantors party thereto, the lenders
party thereto and JPMorgan Chase Bank, as the Administrative Agent, are parties
to a Credit Agreement dated as of March 7, 2003 (as heretofore amended, the
“Credit Agreement”).

          Section 2.01(d) of the Credit Agreement (as heretofore amended)
contemplates that at any time and from time to time, the Borrower may request
that one or more persons (which may include the Lenders under and as defined in
the Credit Agreement) offer to enter into commitments to make (or, as provided
herein, to convert Tranche C Term Loans into) Incremental Loans under and as
defined in said Section 2.01(d), subject to the conditions specified in said
Section 2.01(d). The Borrower has now requested that $550,000,000 in aggregate
principal amount of Incremental Loans under said Section 2.01(d) be made
available to it in a single series of term loans. The Tranche D Lenders (as
defined below) are willing to make (or to convert Tranche C Term Loans into)
such loans on the terms and conditions set forth below and in accordance with
the applicable provisions of the Credit Agreement, and accordingly, the parties
hereto hereby agree as follows:

ARTICLE I

DEFINED TERMS

          Terms defined in the Credit Agreement are used herein as defined
therein. In addition, the following terms have the meanings specified below:

     “Lender Addendum” means, with respect to any Tranche D Lender, a Lender
Addendum substantially in form of Annex 1 hereto, dated as of the date hereof
and executed and delivered by such Tranche D Lender as provided in Section 2.05.

     “Tranche D Term Loan” means a Loan made (or, as provided herein, converted
from Tranche C Term Loans) pursuant to this Agreement which shall constitute a
single Series of Incremental Loans under Section 2.01(d) of the Credit
Agreement.

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     “Tranche D Commitment” means, with respect to each Tranche D Lender, the
commitment of such Lender to make Tranche D Term Loans hereunder (or, as
provided herein, to convert Tranche C Term Loans into Tranche D Terms Loans
hereunder). The amount of each Tranche D Lender’s Tranche D Commitment is set
forth in the Lender Addendum executed and delivered by such Tranche D Lender.
The aggregate original amount of the Tranche D Commitments is $550,000,000.

     “Tranche D Term Loan Effective Date” means the date on which the conditions
specified in Article IV are satisfied (or waived by the Required Tranche D
Lenders).

     “Tranche D Lender” means (a) on the date hereof, a Lender that has executed
and delivered a Lender Addendum and (b) thereafter, the Lenders from time to
time holding Tranche D Commitments or Tranche D Term Loans after giving effect
to any assignments thereof pursuant to Section 10.04 of the Credit Agreement.

ARTICLE II

TRANCHE D TERM LOANS

          Section 2.01. Commitments. Subject to the terms and conditions set
forth herein and in the Credit Agreement, each Tranche D Lender agrees to make
Tranche D Term Loans to the Borrower (or, as provided below, to convert Tranche
C Term Loans), in an aggregate principal amount equal to such Tranche D Lender’s
Tranche D Commitment. Proceeds of Tranche D Term Loans shall be available solely
for application to the prepayment of the outstanding principal of and accrued
and unpaid interest on the Tranche C Term Loans.

          Notwithstanding the foregoing, it is understood and agreed that any
Tranche D Lender that also holds any Tranche C Term Loans may elect, by notice
to the Administrative Agent, that the Tranche D Term Loans required to be made
by such Lender on the Amendment No. 2 Effective Date shall, to the extent of the
portion of such Tranche D Term Loans not exceeding the aggregate principal
amount of the Tranche C Term Loans of such Lender, be made through such Tranche
C Term Loans being converted into Tranche D Term Loans (and each reference in
this Agreement or the Credit Agreement to the “making” of any Tranche D Term
Loan, or words of similar import, shall in the case of such Lender be deemed to
include such conversion). Without limiting the generality of the foregoing, it
is understood that the Tranche D Term Loans into which the Tranche C Term Loans
are so converted shall be treated identically to the Tranche D Terms Loans being
funded (and not being converted from Tranche C Term Loans) on the Tranche D Term
Loan Effective Date and shall have identical Interest Periods in identical
proportions and durations as all other Tranche D Loans (and, for these purposes,
any Interest Periods for Tranche C Term Loans that are Eurodollar Loans in
effect on the Tranche D Term Loan Effective Date shall be terminated on the
Tranche D Term Loan Effective Date, and any such converting Lender shall be paid
accrued interest on its Tranche C Term Loans being so converted, together with
any amounts payable under Section 2.14 of the Credit Agreement, as if

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the Tranche C Term Loans were being prepaid in full on the Tranche D Term Loan
Effective Date).

          Section 2.02. Termination of Commitments. Unless previously
terminated, the Tranche D Commitments shall terminate after the Borrowing of the
Tranche D Term Loans on the Tranche D Term Loan Effective Date.

          Section 2.03. Repayment of Loans. The Borrower hereby unconditionally
promises to pay to the Administrative Agent for the account of the Tranche D
Lenders the principal of the Tranche D Term Loans in twenty-two installments
payable on the Principal Payment Dates as follows:

          Principal Payment Date:

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  Amount of Installment:

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March 31, 2005
  $ 1,375,000  
June 30, 2005
  $ 1,375,000  
September 30, 2005
  $ 1,375,000  
December 31, 2005
  $ 1,375,000  
March 31, 2006
  $ 1,375,000  
June 30, 2006
  $ 1,375,000  
September 30, 2006
  $ 1,375,000  
December 31, 2006
  $ 1,375,000  
March 31, 2007
  $ 1,375,000  
June 30, 2007
  $ 1,375,000  
September 30, 2007
  $ 1,375,000  
December 31, 2007
  $ 1,375,000  
March 31, 2008
  $ 1,375,000  
June 30, 2008
  $ 1,375,000  
September 30, 2008
  $ 1,375,000  
December 31, 2008
  $ 1,375,000  
March 31, 2009
  $ 1,375,000  
June 30, 2009
  $ 1,375,000  
September 30, 2009
  $ 1,375,000  
December 31, 2009
  $ 1,375,000  
March 31, 2010
  $ 261,250,000  
June 30, 2010
  $ 261,250,000  

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          Notwithstanding the foregoing, if on any date (the “Test Date”), the
maturity date for any then-outstanding Senior Subordinated Notes, New Senior
Subordinated Notes or New Senior Notes, or of any other convertible notes or
notes offered and sold publicly or under Rule 144A (other than the Senior
Secured Notes) shall fall within six months of the Test Date then the Tranche D
Term Loans shall be paid in full on the date that is three months after the Test
Date, provided that the foregoing shall not apply if the Required Tranche D
Lenders shall elect otherwise at any time prior to the Test Date.

          Section 2.04. Applicable Rate. The Applicable Rate means, in the case
of Tranche D Term Loans, for any day, 0.75% with respect to any Base Rate Loan
and 1.75% with respect to any Eurodollar Loan.

          Section 2.05. Delivery of Lender Addenda. Each Tranche D Lender shall
become a party to this Agreement by delivering to the Administrative Agent a
Lender Addendum duly executed by such Tranche D Lender, the Borrower and the
Administrative Agent.

          Section 2.06. Status of Agreement. Tranche D Commitments of each
Tranche D Lender constitute Incremental Loan Commitments and each Tranche D
Lender constitutes an Incremental Loan Lender, in each case under and for all
purposes of the Credit Agreement. The Tranche D Term Loans constitute a single
“Series” of Incremental Loans under Section 2.01(d) of the Credit Agreement.

ARTICLE III

REPRESENTATION AND WARRANTIES; NO DEFAULTS

          The Borrower and each Subsidiary Guarantor represents and warrants to
the Lenders and the Administrative Agent as to itself and each of its
subsidiaries that, after giving effect to the provisions hereof, (i) each of the
representations and warranties set forth in Article IV of the Credit Agreement
is true and correct on and as of the date hereof as if made on and as of the
date hereof (or, if any such representation or warranty is expressly stated to
have been made as of a specific date, such representation or warranty is true
and correct as of such specific date) and as if each reference therein to the
Credit Agreement or Loan Documents included reference to this Agreement and
(ii) no Default or Event of Default has occurred and is continuing.

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ARTICLE IV

CONDITIONS

          The obligations of the Tranche D Lenders to make (or, as provided
herein, to convert Tranche C Term Loans into) the Tranche D Term Loans is
subject to the conditions precedent that each of the following conditions shall
have been satisfied (or waived by the Required Tranche D Lenders):

     (a) Counterparts of Agreement. The Administrative Agent (or Special
Counsel) shall have received from each party hereto either (i) a counterpart of
this Agreement signed on behalf of such party or (ii) written evidence
satisfactory to the Administrative Agent (which may include telecopy
transmission of a signed signature page of this Agreement) that such party has
signed a counterpart of this Agreement.

     (b) Opinion of Counsel to Credit Parties. The Administrative Agent (or
Special Counsel) shall have received a favorable written opinion (addressed to
the Administrative Agent and the Tranche D Lenders and dated the Tranche D Term
Loan Effective Date) of Kean, Miller, Hawthorne, D’Armond, McCowan & Jarman,
L.L.P., counsel to the Credit Parties, substantially in the form of Annex 2 (and
each Credit Party hereby requests such counsel to deliver such opinion).

     (c) Opinion of Special Counsel. The Administrative Agent shall have
received a favorable written legal opinion (addressed to the Administrative
Agent and the Tranche D Lenders and dated the Tranche D Term Loan Effective
Date) of Special Counsel, substantially in the form of Annex 3 (and the
Administrative Agent hereby requests Special Counsel to deliver such opinion).

     (d) Corporate Matters. The Administrative Agent (or Special Counsel) shall
have received such documents and certificates as the Administrative Agent or
Special Counsel may reasonably request relating to the organization, existence
and good standing of each Credit Party, the authorization of the Borrowings
hereunder and any other legal matters relating to the Credit Parties, the Credit
Agreement or this Agreement, all in form and substance reasonably satisfactory
to the Administrative Agent.

     (e) Notes. The Administrative Agent (or Special Counsel) shall have
received for each Tranche D Lender that shall have requested a promissory note
at least one Business Day prior to the Tranche D Term Loan Effective Date, a
duly completed and executed promissory note for such Lender.

     (f) Fees and Expenses. JPMorgan Securities Inc. shall have received all
fees and other amounts due and payable on or prior to the Tranche D Term Loan
Effective Date,

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including, to the extent invoiced, reimbursement or payment of all out-of-pocket
expenses required to be reimbursed or paid by the Borrower hereunder.

     (g) Prepayment of Tranche C Term Loans. The principal of and interest on
and all other amounts (including any amounts payable under Section 2.14 of the
Credit Agreement) owing in respect of the Tranche C Term Loans shall have been
(or shall be concurrently) prepaid in full from funds available to the Borrower
and the proceeds of the Tranche D Term Loans.

     (h) Additional Conditions. Each of the conditions precedent set forth in
Sections 5.02 and 5.03 of the Credit Agreement to the making of (or, as provided
herein, to converting Tranche C Term Loans into) Tranche D Term Loans on the
Tranche D Term Loan Effective Date shall have been satisfied, and the
Administrative Agent (or Special Counsel) shall have received a certificate to
such effect, dated the Tranche D Term Loan Effective Date and signed by the
President, Vice President or a Financial Officer of the Borrower.

ARTICLE V

MISCELLANEOUS

          SECTION 5.01. Expenses. The Credit Parties jointly and severally agree
to pay, or reimburse JPMorgan Securities Inc. for paying, all reasonable
out-of-pocket expenses incurred by JPMorgan Securities Inc. and its Affiliates,
including the reasonable fees, charges and disbursements of Special Counsel, in
connection with the syndication of the Incremental Loans provided for herein and
the preparation of this Agreement.

          SECTION 5.02. Counterparts; Integration; Effectiveness. This Agreement
may be executed in counterparts (and by different parties hereto on different
counterparts), each of which shall constitute an original, but all of which when
taken together shall constitute a single contract. This Agreement shall become
effective when this Agreement shall have been executed by the Administrative
Agent and when the Administrative Agent shall have received counterparts hereof
which, when taken together, bear the signatures of each of the other parties
hereto, and thereafter shall be binding upon and inure to the benefit of the
parties hereto and their respective successors and assigns. Delivery of an
executed counterpart of a signature page of this Agreement by telecopy shall be
effective as delivery of a manually executed counterpart of this Agreement.

          SECTION 5.03. Governing Law. This Agreement shall be governed by, and
construed in accordance with, the law of the State of New York.

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          SECTION 5.04. Headings. Article and Section headings used herein are
for convenience of reference only, are not part of this Agreement and shall not
affect the construction of, or be taken into consideration in interpreting, this
Agreement.

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

                              LAMAR MEDIA CORP.    
 
                   

      By:   /s/   Keith Istre                

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                  Title:    
 
                        SUBSIDIARY GUARANTORS
 
                            LAMAR ADVERTISING OF COLORADO SPRINGS, INC.
LAMAR TEXAS GENERAL PARTNER, INC.
TLC PROPERTIES, INC.
TLC PROPERTIES II, INC.
LAMAR PENSACOLA TRANSIT, INC.
LAMAR ADVERTISING OF YOUNGSTOWN, INC.
NEBRASKA LOGOS, INC.
OHIO LOGOS, INC.
UTAH LOGOS, INC.
SOUTH CAROLINA LOGOS, INC.
MINNESOTA LOGOS, INC.
MICHIGAN LOGOS, INC.
FLORIDA LOGOS, INC.
NEVADA LOGOS, INC.
TENNESSEE LOGOS, INC.
KANSAS LOGOS, INC.
COLORADO LOGOS, INC.
NEW MEXICO LOGOS, INC.
CANADIAN TODS LIMITED
LAMAR ADVERTISING OF MICHIGAN, INC.
LAMAR ELECTRICAL, INC.
AMERICAN SIGNS, INC.
LAMAR OCI NORTH CORPORATION
LAMAR OCI SOUTH CORPORATION
LAMAR ADVERTISING OF KENTUCKY, INC.
LAMAR FLORIDA, INC.
LAMAR ADVAN, INC.
LAMAR ADVERTISING OF SOUTH DAKOTA, INC.
LAMAR CENTRAL OUTDOOR, INC.
LAMAR ADVANTAGE HOLDING COMPANY
   

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                              LAMAR OHIO OUTDOOR HOLDING CORP.
LAMAR BENCHES, INC.
LAMAR I-40 WEST, INC.
LAMAR ADVERTISING OF OKLAHOMA, INC.
LAMAR OKLAHOMA HOLDING COMPANY, INC.
HARDIN DEVELOPMENT CORPORATION
PARSONS DEVELOPMENT COMPANY
REVOLUTION OUTDOOR ADVERTISING, INC.
OUTDOOR MARKETING SYSTEMS, INC.
LAMAR ADVERTISING SOUTHWEST, INC.
LAMAR DOA TENNESSEE HOLDINGS, INC.
LAMAR DOA TENNESSEE, INC.
TRANS WEST OUTDOOR ADVERTISING, INC.
PREMERE OUTDOOR, INC.
HAM DEVELOPMENT CORPORATION
10 OUTDOOR ADVERTISING, INC.
LAMAR CALIFORNIA ACQUISITION CORPORATION
LAMAR CANADIAN OUTDOOR COMPANY
   
 
                   

      By:   /s/   Keith Istre                

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              Keith A. Istre
Vice President -Finance and
Chief Financial Officer
   

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                              MISSOURI LOGOS, LLC
KENTUCKY LOGOS, LLC
OKLAHOMA LOGOS, L.L.C.
MISSISSIPPI LOGOS, L.LC.
DELAWARE LOGOS, L.L.C.
NEW JERSEY LOGOS, L.L.C.
GEORGIA LOGOS, LLC
VIRGINIA LOGOS, LLC
MAINE LOGOS, L.L.C.
WASHINGTON LOGOS, L.L.C.    
 
                            By: Interstate Logos, L.L.C.
Its: Managing Member
By: Lamar Media Corp., Its: Managing Member    
 
                   

      By:   /s/   Keith Istre                

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              Keith A. Istre
Vice President - Finance and
Chief Financial Officer
   
 
                            INTERSTATE LOGOS, L.L.C.    
 
                            By: Lamar Media Corp.,
Its: Managing Member    
 
                   

      By:   /s/   Keith Istre                

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              Keith A. Istre
Vice President - Finance and
Chief Financial Officer    

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                              LAMAR ADVERTISING OF PENN, LLC
LAMAR ADVERTISING OF LOUISIANA, L.L.C.
LAMAR TENNESSEE, L.L.C.
LAMAR AIR, L.L.C.
LC BILLBOARD, L.L.C.
ADVANTAGE ADVERTISING, LLC    
 
                            By: The Lamar Company, L.L.C.
Its: Managing Member
By: Lamar Media Corp.
Its: Managing Member    
 
                   

      By:   /s/   Keith Istre                

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              Keith A. Istre
Vice President - Finance and
Chief Financial Officer    
 
                            THE LAMAR COMPANY, L.L.C.    
 
                            By: Lamar Media Corp.,
Its: Managing Member    
 
                   

      By:   /s/   Keith Istre                

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              Keith A. Istre
Vice President - Finance and
Chief Financial Officer    
 
                            LAMAR TEXAS LIMITED PARTNERSHIP    
 
                            By: Lamar Texas General Partner, Inc.
Its: General Partner    
 
                   

      By:   /s/   Keith Istre                

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              Keith A. Istre
Vice President - Finance and
Chief Financial Officer    

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                  TLC PROPERTIES, L.L.C.
TLC FARMS, L.L.C.
 
                By: TLC Properties, Inc.
Its: Managing Member
 
           

  By:   /s/   Keith Istre        

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          Keith A. Istre
Vice President - Finance and
Chief Financial Officer
 
                OUTDOOR PROMOTIONS WEST, LLC
TRANSIT AMERICA LAS VEGAS, L.L.C.
LAMAR TRANSIT ADVERTISING OF NEW ORLEANS, LLC
TRIUMPH OUTDOOR RHODE ISLAND, LLC

By: Triumph Outdoor Holdings, LLC
Its: Managing Member
By: Lamar Central Outdoor, Inc.
Its: Managing Member

 
           

  By:   /s/   Keith Istre        

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          Keith A. Istre
Vice President - Finance and
Chief Financial Officer
 
                TRIUMPH OUTDOOR HOLDINGS, LLC
LAMAR ADVANTAGE GP COMPANY, LLC
LAMAR ADVANTAGE LP COMPANY, LLC

By: Lamar Central Outdoor, Inc.
Its: Managing Member
 
           

  By:   /s/   Keith Istre        

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          Keith A. Istre
Vice President - Finance and
Chief Financial Officer

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                  LAMAR ADVANTAGE OUTDOOR COMPANY, L.P.

By: Lamar Advantage GP Company, LLC
Its: General Partner
By: Lamar Central Outdoor, Inc.
Its: Managing Member
 
           

  By:   /s/   Keith Istre        

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          Keith A. Istre
Vice President-Finance and
Chief Financial Officer

 
                LAMAR T.T.R., L.L.C.

By: Lamar Advertising of Youngstown, Inc.
Its: Managing Member
 
           

  By:   /s/   Keith Istre        

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          Keith A. Istre
Vice President-Finance and
Chief Financial Officer
 
                TEXAS LOGOS, L.P.

By: Oklahoma Logos, L.L.C.
Its: General Partner
By: Interstate Logos, L.L.C.
Its: Managing Member
By: Lamar Media Corp.
Its: Managing Member
 
           

  By:   /s/   Keith Istre        

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          Keith A. Istre
Vice President-Finance and
Chief Financial Officer

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                  OUTDOOR MARKETING SYSTEMS, L.L.C.

By: Outdoor Marketing Systems, Inc.
Its: Managing Member
 
           

  By:   /s/   Keith Istre        

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          Keith A. Istre
Vice President-Finance and
Chief Financial Officer
 
                STOKELY AD AGENCY, L.L.C.

By: Lamar Central Outdoor, Inc.
Its: Managing Member
 
           

  By:   /s/   Keith Istre        

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          Keith A. Istre
Vice President-Finance and
Chief Financial Officer

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              JPMORGAN CHASE BANK,
  as Administrative Agent
 
       

  By:   /s/ Joan M. Fitzgibbon

     

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        Name: Joan M. Fitzgibbon
  Title: Managing Director

          By its signature below, the undersigned hereby consents to the
foregoing Tranche D Term Loan Agreement and confirms that the Tranche D Term
Loans shall constitute “Guaranteed Obligations” under and as defined in the
Holdings Guaranty and Pledge Agreement and shall be entitled to the benefits of
the Guarantee and security provided under the Holdings Guaranty and Pledge
Agreement.

              LAMAR ADVERTISING COMPANY
 
       

  By:   /s/ Keith Istre

     

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      Name:

      Title:

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