Document:

EX 10.10

                                      CALBATECH INC.
                        INDEMNIFICATION AGREEMENT - JOHN GORDON

         This Indemnification Agreement ("AGREEMENT") is made as of
this 1st day of January 2004, by and between CalbaTech, Inc., a
Nevada corporation (the "COMPANY"), and John Gordon ("INDEMNITEE").

         WHEREAS, the Company and Indemnitee recognize the
significant cost of directors' and officers' liability insurance and
the general reductions in the coverage of such insurance;

         WHEREAS, the Company and Indemnitee further recognize the
substantial increase in corporate litigation in general, subjecting
officers and directors to expensive litigation risks at the same time
as the coverage of liability insurance has been severely limited; and

         WHEREAS, the Company desires to attract and retain the
services of highly qualified individuals, such as Indemnitee, to
serve as officers and directors of the Company and to indemnify its
officers and directors so as to provide them with the maximum
protection permitted by law.

         NOW, THEREFORE, in consideration for Indemnitee's services
as an officer or director of the Company, the Company and Indemnitee
hereby agree as follows:

     1. INDEMNIFICATION.

         (a) Third Party Proceedings. The Company shall indemnify
Indemnitee if Indemnitee is or was a party or is threatened to be
made a party to any threatened, pending or completed action, suit,
proceeding or any alternative dispute resolution mechanism, whether
civil, criminal, administrative or investigative (other than an
action by or in the right of the Company) by reason of the fact that
Indemnitee is or was a director, officer, employee or agent of the
Company, or any subsidiary of the Company, or by reason of the fact
that Indemnitee is or was serving at the request of the Company as a
director, officer, employee or agent of another corporation,
partnership, joint venture,
trust or other enterprise, against expenses (including attorneys'
fees), judgments, fines and amounts paid in settlement (if such
settlement is approved in advance by the Company, which approval
shall not be unreasonably withheld) actually and reasonably incurred
by Indemnitee in connection with such action, suit or proceeding if
Indemnitee acted in good faith and in a manner Indemnitee reasonably
believed to be in or not opposed to the best interests of the
Company, and, with respect to any criminal action or proceeding, had
no reasonable cause to believe Indemnitee's conduct was unlawful. The
termination of any action, suit or proceeding by judgment, order,
settlement, conviction, or upon a plea of nolo contendere or its
equivalent, shall not, of itself, create a presumption that
Indemnitee did not act in good faith and in a manner which Indemnitee
reasonably believed to be in or not opposed to the best interests of
the Company, and, with respect to any criminal action or proceeding,
had reasonable cause to believe that Indemnitee's conduct was
unlawful.

         (b) Proceedings By or in the Right of the Company. The
Company shall indemnify Indemnitee if Indemnitee was or is a party or
is threatened to be made a party to any threatened, pending or
completed action or suit by or in the right of the Company or any
subsidiary of the Company to procure a judgment in its favor by
reason of the fact that Indemnitee is or was a director, officer,
employee or agent of the Company, or any subsidiary of the Company,
or by reason of the fact that Indemnitee is or was serving at the
request of the Company as a director, officer, employee or agent of
another corporation, partnership, joint venture, trust or other
enterprise, against expenses (including attorneys' fees) and, to the
fullest extent permitted by law, amounts paid in settlement actually
and reasonably incurred by Indemnitee in connection with the defense
or settlement of such action or suit if Indemnitee acted in good
faith and in a manner Indemnitee reasonably believed to be in or not
opposed to the best interests of the Company, except that no
indemnification shall be made in respect of any claim, issue or
matter as to which Indemnitee shall have been adjudged to be liable
to the Company unless and only to the extent that the Court of
Chancery of the State of Nevada or the court in which such action or
suit was brought shall determine upon application that, despite the
adjudication of liability but in view of all the circumstances of the
case, Indemnitee is fairly and reasonably entitled to indemnity for
such expenses which the Court of Chancery of the State of Nevada or
such other court shall deem proper.

         (c) Mandatory Payment of Expenses. To the extent that
Indemnitee has been successful on the merits or otherwise in defense
of any action, suit or proceeding referred to in Subsections (a) and
(b) of this Section 1, or in defense of any claim, issue or matter
therein, Indemnitee shall be indemnified against expenses (including
attorneys' fees) actually and reasonably incurred by Indemnitee in
connection therewith.

     2. EXPENSES; INDEMNIFICATION PROCEDURE.

         (a) Advancement of Expenses. The Company shall advance all
expenses incurred by Indemnitee in connection with the investigation,
defense, settlement or appeal of any civil or criminal action, suit
or proceeding referenced in Section 1(a) or (b) hereof (but not
amounts actually paid in settlement of any such action, suit or
proceeding). Indemnitee hereby undertakes to repay such amounts
advanced only if, and to the extent that, it shall ultimately be
determined that Indemnitee is not entitled to be indemnified by the
Company as authorized hereby. The advances to be made hereunder shall
be paid by the Company to Indemnitee within thirty (30) days
following delivery of a written request therefor by Indemnitee to the
Company.

         (b) Notice/Cooperation by Indemnitee. Indemnitee shall, as a
condition precedent to his right to be indemnified under this
Agreement, give the Company notice in writing as soon as practicable
of any claim made against Indemnitee for which indemnification will
or could be sought under this Agreement. Notice to the Company shall
be directed to the President of the Company at the address shown on
the signature page of this Agreement (or such other address as the
Company shall designate in writing to Indemnitee). Notice shall be
deemed received three business days after the date postmarked if sent
by domestic certified or registered mail, properly addressed, five
business days if sent by airmail to a country outside of North
America; otherwise notice shall be deemed received when such notice
shall actually be received by the Company. In addition, Indemnitee
shall give the Company such information and cooperation as it may
reasonably require and as shall be within Indemnitee's power.

         (c) Procedure. Any indemnification and advances provided for
in Section 1 and this Section 2 shall be made no later than thirty
(30) days after receipt of the written request of Indemnitee. If a
claim under this Agreement, under any statute, or under any provision
of the Company's Certificate of Incorporation or Bylaws providing for
indemnification, is not paid in full by the Company within thirty
(30) days after a written request for payment thereof has first been
received by the Company, Indemnitee may, but need not, at any time
thereafter bring an action against the Company to recover the unpaid
amount of the claim and, subject to Section 12 of this Agreement,
Indemnitee shall also be entitled to be paid for the expenses
(including attorneys' fees) of bringing such action. It shall be a
defense to any such action (other than an action brought to enforce a
claim for expenses incurred in connection with any action, suit or
proceeding in advance of its final disposition) that Indemnitee has
not met the standards of conduct which make it permissible under
applicable law for the Company to indemnify Indemnitee for the amount
claimed. However, Indemnitee shall be entitled to receive interim
payments of expenses pursuant to Subsection 2(a) unless and until
such defense may be finally adjudicated by court order or judgment
from which no further right of appeal exists. It is the parties'
intention that if the Company contests Indemnitee's right to
indemnification, the question of Indemnitee's right to
indemnification shall be for the court to decide, and neither the
failure of the Company (including its Board of Directors, any
committee or subgroup of the Board of Directors, independent legal
counsel, or its stockholders) to have made a determination that
indemnification of Indemnitee is proper in the circumstances because
Indemnitee has met the applicable standard of conduct required by
applicable law, nor an actual determination by the Company (including
it Board of Directors, any committee or subgroup of the Board of
Directors, independent legal counsel, or its stockholders) that
Indemnitee has not met such applicable standard of conduct, shall
create a presumption that Indemnitee has or has not met the
applicable standard of conduct.

         (d) Notice to Insurers. If, at the time of the receipt of a
notice of a claim pursuant to Section 2(b) hereof, the Company has
director and officer liability insurance in effect, the Company shall
give prompt notice of the commencement of such proceeding to the
insurers in accordance with the procedures set forth in the
respective policies. The Company shall thereafter take all necessary
or desirable action to cause such insurers to pay, on behalf of the
Indemnitee, all amounts payable as a result of such proceeding in
accordance with the terms of such policies.

         (e) Selection of Counsel. In the event the Company shall be
obligated under Section 2(a) hereof to pay the expenses of any
proceeding against Indemnitee, the Company, if appropriate, shall be
entitled to assume the defense of such proceeding, with counsel
approved by Indemnitee, upon the delivery to Indemnitee of written
notice of its election to do so. After delivery of such notice,
approval of such counsel by Indemnitee and the retention of such
counsel by the Company, the Company will not be liable to Indemnitee
under this Agreement for any fees of counsel subsequently incurred by
Indemnitee with
respect to the same proceeding, provided that (i) Indemnitee shall
have the right to employ his counsel in any such proceeding at
Indemnitee's expense; and (ii) if (A) the employment of counsel by
Indemnitee has been previously authorized by the Company, (B)
Indemnitee shall have reasonably concluded that there may be a
conflict of interest between the Company and Indemnitee in the
conduct of any such defense, or (C) the Company shall not, in fact,
have employed counsel to assume the defense of such proceeding, then
the fees and expenses of Indemnitee's counsel shall be at the expense
of the Company.

     3. ADDITIONAL INDEMNIFICATION RIGHTS; NONEXCLUSIVITY.

         (a) Scope. Notwithstanding any other provision of this
Agreement, the Company hereby agrees to indemnify the Indemnitee to
the fullest extent permitted by law, notwithstanding that such
indemnification is not specifically authorized by the other
provisions of this Agreement, the Company's Certificate of
Incorporation, the Company's Bylaws or by statute. In the event of
any change, after the date of this Agreement, in any applicable law,
statute, or rule which expands the right of a Nevada corporation to
indemnify a member of its board of directors or an officer, such
changes shall be, ipso facto, within the purview of Indemnitee's
rights and Company's obligations, under this Agreement. In the event
of any change in any applicable law, statute or rule which narrows
the right of a Nevada corporation to indemnify a member of its board
of directors or an officer, such changes, to the extent not otherwise
required by such law, statute or rule to be applied to this Agreement
shall have no effect on this Agreement or the parties' rights and
obligations hereunder.

         (b) Nonexclusivity. The indemnification provided by this
Agreement shall not be deemed exclusive of any rights to which
Indemnitee may be entitled under the Company's Certificate of
Incorporation, its Bylaws, any agreement, any vote of stockholders or
disinterested Directors, the General Corporation Law of the State of
Nevada, or otherwise, both as to action in Indemnitee's official
capacity and as to action in another capacity while holding such
office. The indemnification provided under this Agreement shall
continue as to Indemnitee for any action taken or not taken while
serving in an indemnified capacity even though he may have ceased to
serve in such capacity at the time of any action, suit or other
covered proceeding.

     4. PARTIAL INDEMNIFICATION. If Indemnitee is entitled under any
provision of this Agreement to indemnification by the Company for
some or a portion of the expenses, judgments, fines or penalties
actually or reasonably incurred by him in the investigation, defense,
appeal or settlement of any civil or criminal action, suit or
proceeding, but not, however, for the total amount thereof, the
Company shall nevertheless indemnify Indemnitee for the portion of
such expenses, judgments, fines or penalties to which Indemnitee is
entitled.

     5. MUTUAL ACKNOWLEDGEMENT. Both the Company and Indemnitee
acknowledge that in certain instances, Federal law or applicable
public policy may prohibit the Company from indemnifying its
directors and officers under this Agreement or otherwise. Indemnitee
understands and acknowledges that the Company has undertaken or may
be required in the future to undertake with the Securities and
Exchange Commission to submit the question of indemnification to a
court in certain circumstances for a determination of the Company's
right under public policy to indemnify Indemnitee.

     6. OFFICER AND DIRECTOR LIABILITY INSURANCE. The Company shall,
from time to time, make the good faith determination whether or not
it is practicable for the Company to obtain and maintain a policy or
policies of insurance with reputable insurance companies providing
the officers and directors of the Company with coverage for losses
from wrongful acts, or to ensure the Company's performance of its
indemnification obligations under this Agreement. Among other
considerations, the Company will weigh the costs of obtaining such
insurance coverage against the protection afforded by such coverage.
In all policies of director and officer liability insurance,
Indemnitee shall be named as an insured in such a manner as to
provide Indemnitee the same rights and benefits as are accorded to
the most favorably insured of the Company's directors, if Indemnitee
is a director; or of the Company's officers, if Indemnitee is not a
director of the Company but is an officer. Notwithstanding the
foregoing, the Company shall have no obligation to obtain or maintain
such insurance if the Company determines in good faith that such
insurance is not reasonably available, if the premium costs for such
insurance are disproportionate to the amount of coverage provided, if
the coverage provided by such insurance is limited by exclusions so
as to provide an insufficient benefit, or if Indemnitee is covered by
similar insurance maintained by a subsidiary or parent of the
Company.

     7. SEVERABILITY. Nothing in this Agreement is intended to
require or shall be construed as requiring the Company to do or fail
to do any act in violation of applicable law. The Company's
inability, pursuant to court order, to perform its obligations under
this Agreement shall not constitute a breach of this Agreement. The
provisions of this Agreement shall be severable as provided in this
Section 7. If this Agreement or any portion hereof shall be
invalidated on any ground by any court of competent jurisdiction,
then the Company shall nevertheless indemnify Indemnitee to the full
extent permitted by any applicable portion of this Agreement that
shall not have been invalidated, and the balance of this Agreement
not so invalidated shall be enforceable in accordance with its terms.

     8. EXCEPTIONS. Any other provision herein to the contrary
notwithstanding, the Company shall not be obligated pursuant to the
terms of this Agreement:

         (a) Claims Initiated by Indemnitee. To indemnify or advance
expenses to Indemnitee with respect to proceedings or claims
initiated or brought voluntarily by Indemnitee and not by way of
defense, except with respect to proceedings brought to establish or
enforce a right to indemnification under this Agreement or any other
statute or law or otherwise as required under the Nevada General
Corporation Law, but such indemnification or advancement of expenses
may be provided by the Company in specific cases if the Board of
Directors has approved the initiation or bringing of such suit; or

         (b) Lack of Good Faith. To indemnify Indemnitee for any
expenses incurred by the Indemnitee with respect to any proceeding
instituted by Indemnitee to enforce or interpret this Agreement, if a
court of competent jurisdiction determines that each of the material
assertions made by the Indemnitee in such proceeding was not made in
good faith or was frivolous; or

         (c) Insured Claims. To indemnify Indemnitee for expenses or
liabilities of any type whatsoever (including, but not limited to,
judgments, fines, ERISA excise taxes or penalties, and amounts paid
in settlement) which have been paid directly to Indemnitee by an
insurance carrier under a policy of officers' and directors'
liability insurance maintained by the Company.

         (d) Claims Under Section 16(b). To indemnify Indemnitee for
expenses and the payment of profits arising from the purchase and
sale by Indemnitee of securities in violation of Section 16(b) of the
Securities Exchange Act of 1934, as amended, or any similar successor
statute.

     9. CONSTRUCTION OF CERTAIN PHRASES.

         (a) For purposes of this Agreement, references to the
"Company" shall include, in addition to the resulting corporation,
any constituent corporation (including any constituent of a
constituent) absorbed in a consolidation or merger which, if its
separate existence had continued, would have had power and authority
to indemnify its directors, officers, and employees or agents, so
that if Indemnitee is or was a director, officer, employee or agent
of such constituent corporation, or is or was serving at the request
of such constituent corporation as a director, officer, employee or
agent of another corporation, partnership, joint venture, trust or
other enterprise, Indemnitee shall stand in the same position under
the provisions of this Agreement with respect to the resulting or
surviving corporation as Indemnitee would have with respect to such
constituent corporation if its separate existence had continued.

         (b) For purposes of this Agreement, references to "other
enterprises" shall include employee benefit plans; references to
"fines" shall include any excise taxes assessed on Indemnitee with
respect to an employee benefit plan; and references to "serving at
the request of the Company" shall include any service as a director,
officer, employee or agent of the Company which imposes duties on, or
involves services by, such director, officer, employee or agent with
respect to an employee benefit plan, its participants, or
beneficiaries; and if Indemnitee acted in good faith and in a manner
Indemnitee reasonably believed to be in the interest of the
participants and beneficiaries of an employee benefit plan,
Indemnitee shall be deemed to have acted in a manner "not opposed to
the best interests of the Company" as referred to in this Agreement.

     10. COUNTERPARTS. This Agreement may be executed in one or more
counterparts, each of which shall constitute an original.

     11. SUCCESSORS AND ASSIGNS. This Agreement shall be binding upon
the Company and its successors and assigns, and shall inure to the
benefit of Indemnitee and Indemnitee's estate, heirs, legal
representatives and assigns.

     12. ATTORNEYS' FEES. In the event that any action is instituted
by Indemnitee under this Agreement to enforce or interpret any of the
terms hereof, Indemnitee shall be entitled to be paid all court costs
and expenses, including reasonable attorneys' fees, incurred by
Indemnitee with respect to such action, unless as a part of such
action, the court of competent jurisdiction determines that each of
the material assertions made by Indemnitee as a basis for such action
were not made in good faith or were frivolous. In the event of an
action instituted by or in the name of the Company under this
Agreement or to enforce or interpret any of the terms of this
Agreement, Indemnitee shall be entitled to be paid all court costs
and expenses, including attorneys' fees, incurred by Indemnitee in
defense of such action (including with respect to Indemnitee's
counterclaims and cross-claims made in such action), unless as a part
of such action the court determines that each of Indemnitee's
material defenses to such action were made in bad faith or were
frivolous.

     13. NOTICE. All notices, requests, demands and other
communications under this Agreement shall be in writing and shall be
deemed duly given (i) if delivered by hand and receipted for by the
party addressee, on the date of such receipt, or (ii) if mailed by
domestic certified or registered mail with postage prepaid, on the
third business day after the date postmarked. Addresses for notice to
either party are as shown on the signature page of this Agreement, or
as subsequently modified by written notice.

     14. CONSENT TO JURISDICTION. The Company and Indemnitee each
hereby irrevocably consent to the jurisdiction of the courts of the
State of Nevada for all purposes in connection with any action or
proceeding which arises out of or relates to this Agreement and agree
that any action instituted under this Agreement shall be brought only
in the state courts of the State of Nevada.

     15. CHOICE OF LAW. This Agreement shall be governed by and its
provisions construed in accordance with the laws of the State of
Nevada, as applied to contracts between Nevada residents entered into
and to be performed entirely within Nevada without regard to the
conflict of law principles thereof.

     16. PERIOD OF LIMITATIONS. No legal action shall be brought and
no cause of action shall be asserted by or in the right of the
Company against Indemnitee, Indemnitee's estate, spouse, heirs,
executors or personal or legal representatives after the expiration
of two years from the date of accrual of such cause of action, and
any claim or cause of action of the Company shall be extinguished and
deemed released unless asserted by the timely filing of a legal
action within such two-year period; provided, however, that if any
shorter period of limitations is otherwise applicable to any such
cause of action, such shorter period shall govern.

     17. SUBROGATION. In the event of payment under this Agreement,
the Company shall be subrogated to the extent of such payment to all
of the rights of recovery of Indemnitee, who shall execute all
documents required and shall do all acts that may be necessary to
secure such rights and to enable the Company effectively to bring
suit to enforce such rights.

     18. AMENDMENT AND TERMINATION. No amendment, modification,
termination or cancellation of this Agreement shall be effective
unless it is in writing signed by both the parties hereto. No waiver
of any of the provisions of this Agreement shall be deemed or shall
constitute a waiver of any other provisions hereof (whether or not
similar) nor shall such waiver constitute a continuing waiver.

     19. INTEGRATION AND ENTIRE AGREEMENT. This Agreement sets forth
the entire understanding between the parties hereto and supersedes
and merges all previous written and oral negotiations, commitments,
understandings and agreements relating to the subject matter hereof
between the parties hereto

         IN WITNESS WHEREOF, the parties hereto have executed this
Agreement as
of the date first above written.

                                            CALBATECH, INC.

                                            S/s James DeOlden
                                            Signature of Authorized
Signatory

                                            James DeOlden, CEO
                                            Name and Title

AGREED TO AND ACCEPTED:

INDEMNITEE:

S/s John Gordon
Signature

John Gordon, CTO
Name and TitleEXHIBIT
10.1

 

UBIQUITEL OPERATING COMPANY

 

UBIQUITEL INC. AS GUARANTOR

 

$270,000,000

 

97/8% Senior Notes due 2011

 

Purchase Agreement

 

February 12, 2004

 

BEAR, STEARNS & CO. INC.

CITIGROUP GLOBAL MARKETS INC.

BANC OF AMERICA
SECURITIES LLC

 

 

UBIQUITEL OPERATING
COMPANY

 

$270,000,000

 

97/8%
Senior Notes due 2011

 

PURCHASE AGREEMENT

 

February 12,
2004

New York, New York

 

	
  BEAR, STEARNS & CO.
  INC.

  
	
  CITIGROUP GLOBAL
  MARKETS INC.

  
	
  BANC OF AMERICA
  SECURITIES LLC

  
	
  c/o Bear, Stearns &
  Co. Inc.

  
	
   

  	
  383 Madison Avenue

  
	
   

  	
  New York, New York  10179

  

 

Ladies & Gentlemen:

 

UbiquiTel
Operating Company, a Delaware corporation (the “Company”), proposes to issue and sell to
Bear, Stearns & Co. Inc., Citigroup Global Markets Inc. and Banc of America
Securities LLC (each, an “Initial
Purchaser” and, collectively, the “Initial Purchasers”) $270,000,000 in
aggregate principal amount of 97/8% Senior Notes due 2011
(the “Initial Notes”),
subject to the terms and conditions set forth herein.

 

1.                                       The
Transactions.  Subject to the terms
and conditions herein contained, the Company proposes to issue and sell to the
Initial Purchasers $270,000,000 in aggregate principal amount of the Initial
Notes.  The Initial Notes and the
Exchange Notes (as defined below) are collectively referred to herein as the “Notes.”  The Notes will (i) have the terms and
provisions that are described in the Offering Memorandum (as defined below)
under the heading “Description of Notes” and such other terms as are customary
and (ii) be issued pursuant to an indenture (the “Indenture”), to be dated as of the Closing
Date (as defined below), among the Company, the Guarantor (as defined) and The
Bank of New York, as trustee (the “Trustee”).

 

The Initial
Purchasers and other holders (including subsequent transferees) of the Initial
Notes will have the registration rights set forth in the registration rights
agreement relating thereto (the “Registration Rights Agreement”), to be dated the Closing Date, for so
long as such Initial Notes constitute Transfer Restricted Securities (as
defined in the Registration Rights Agreement). 
Pursuant to the Registration Rights Agreement, the Company and the
Guarantor will agree to file with the Securities and Exchange Commission (the “Commission”), under
the circumstances set forth therein, (i) a registration statement (the “Registration Statement”)
on the appropriate form with the Commission under the Securities Act of 1933,
as amended (together with the rules and regulations of the Commission
promulgated thereunder, the “Act”), relating to the Company’s 97/8%
Senior Notes due 2011 (the “Exchange Notes”) and Guarantees thereof to be offered in
exchange for the Initial Notes and Guarantees thereof (the “Exchange Offer”) and
(ii) a shelf registration statement pursuant to Rule 415 under the Act (the “Shelf Registration Statement”“)

 

 

relating to the resale by
certain holders of the Initial Notes, and to use their commercially reasonable
efforts to cause such Registration Statements to be declared effective and to
consummate the Exchange Offer.

 

The sale of the
Initial Notes and the Guarantees to the Initial Purchasers (the “Offering”) will be
made without registration under the Act, in reliance upon the exemption
therefrom provided by Section 4(2) of the Act.

 

In connection with
the sale of the Initial Notes and the Guarantees thereof, the Company has
prepared a preliminary offering memorandum dated February 4, 2004 (the “Preliminary Offering Memorandum”),
and a final offering memorandum, to be dated the date the Guarantor’s report on
Form 10-K for the year ended December 31, 2003 is filed with the
Commission (the “Offering Memorandum”),
each setting forth information regarding the Company, the Guarantor, the Notes
and the Guarantees, the terms of the Offering and the transactions contemplated
by the Offering Documents (as defined below). 
Any reference to the Preliminary Offering Memorandum or the Offering
Memorandum shall be deemed to refer to and include the information expressly
incorporated by reference thereto under the sections entitled “Security
Ownership of Certain Beneficial Owners, Directors and Executive Officers,”
“Proposal 1:  Election of Class III
Directors,” “Our Board of Directors,” “Executive Compensation” and “Certain
Transactions” in the Guarantor’s definitive proxy statement dated
April 23, 2003 (the “Proxy
Statement”).

 

The Company hereby
confirms that it has authorized the use of the Preliminary Offering Memorandum
and the Offering Memorandum in connection with the offering and resale of the
Notes by the Initial Purchasers.

 

The Company
understands that the Initial Purchasers propose to make an offering of the
Initial Notes (the “Exempt Resales”)
only on the terms and in the manner set forth in the Offering Memorandum, as
amended or supplemented, and Sections 4, 5 and 12 hereof, solely to
(i) persons in the United States whom the Initial Purchasers reasonably
believe to be qualified institutional buyers (“QIBs”) as defined in Rule 144A under the Act,
as such rule may be amended from time to time (“Rule 144A”), in transactions under Rule 144A
and (ii) outside the United States to certain persons in reliance on Regulation
S (“Regulation S”) under
the Act (each, a “Reg S Investor”).  The QIBs and the Reg S Investors are
collectively referred to herein as the “Eligible Purchasers.” 
The Initial Purchasers will offer the Initial Notes to such Eligible
Purchasers initially at a price equal to 98.26% of the principal amount
thereof.  Such price may be changed at
any time without notice.

 

The payment of
principal of, premium and liquidated damages, if any, and interest on the Notes
will be fully and unconditionally guaranteed on an unsecured basis by UbiquiTel
Inc. (the “Guarantor”),
pursuant to its guarantees (the “Guarantees”). 
The Company has one subsidiary, UbiquiTel Leasing Company (“subsidiary”), which
will not be a guarantor of payment on the Notes.  The Initial Notes and the Guarantees attached thereto are herein
collectively referred to as the “Securities”; and the Exchange Notes and the Guarantees
attached thereto are herein collectively referred to as the “Exchange Securities.”  This Agreement, the Securities, the Exchange
Securities, the Indenture and the Registration Rights Agreement are hereinafter
referred

 

2

 

to collectively as the “Offering Documents.”Capitalized terms used herein and not otherwise defined shall have the
meanings assigned to such terms in the Indenture.

 

2.                                       Representations
and Warranties of the Company and the Guarantor.  The Company and the Guarantor, jointly and severally, represent
and warrant to the Initial Purchasers that:

 

(a)                                  The
Preliminary Offering Memorandum as of its date did not, and the Offering
Memorandum, as of its date and as of the Closing Date, will not, and any
supplement or amendment to them will not, contain any untrue statement of a
material fact or omit to state any material fact necessary in order to make the
statements therein, in light of the circumstances under which they were made,
not misleading, except that the representations and warranties contained in
this paragraph shall not apply to statements in or omissions from the Offering
Memorandum (or any supplement or amendment thereto) made in reliance upon and
in conformity with information relating to the Initial Purchasers furnished to
the Company and the Guarantor in writing by or on behalf of the Initial
Purchasers expressly for use therein.

 

(b)                                 The
Preliminary Offering Memorandum and the Offering Memorandum have been and will
be prepared by the Company for use by the Initial Purchasers in connection with
the Offering.  No order or decree
preventing the use of the Preliminary Offering Memorandum or the Offering
Memorandum, or any amendment or supplement thereto, or any order asserting that
any of the transactions contemplated by this Agreement are subject to the
registration requirements of the Act, has been issued, and no proceeding for
that purpose has commenced or is pending or, to the best knowledge of the
Company and the Guarantor, is contemplated.

 

(c)                                  The
sections of the Proxy Statement, when filed with the Commission, did not
contain an untrue statement of a material fact or omit to state a material fact
required to be stated therein or necessary to make the statements therein not
misleading; such sections of Proxy Statement expressly incorporated by
reference in the Offering Memorandum when filed with the Commission, conformed
in all material respects to the requirements of the Securities Exchange Act of
1934, as amended (together with the rules and regulations of the Commission
promulgated thereunder, the “Exchange Act”).

 

(d)                                 Subsequent
to the respective dates as of which information is given in the Offering
Memorandum (or, if the Offering Memorandum is not in existence, the most recent
Preliminary Offering Memorandum), except as disclosed in the Offering
Memorandum (or, if the Offering Memorandum is not in existence, the most recent
Preliminary Offering Memorandum), (i) the Guarantor has not declared, paid or
made any dividends or other distributions of any kind on or in respect of its
capital stock and (ii) there has been no material adverse change or any
development involving a prospective material adverse change, in the capital
stock or the long-term debt, or material increase in the short-term debt, of
the Company, its subsidiary, or the Guarantor whether or not arising from
transactions in the ordinary course of business, in or affecting (A) the
business, condition (financial or otherwise), results of operations,
stockholders’ equity, properties or prospects of the Company, its subsidiary,
or the Guarantor, taken as a whole; or (B) the ability of the Company and
the Guarantor to consummate the Offering or any of the other transactions
contemplated by the Offering Documents.

 

3

 

(e)                                  Since
the date of the latest balance sheet included in the Offering Memorandum (or,
if the Offering Memorandum is not in existence, the most recent Preliminary
Offering Memorandum), none of the Company, its subsidiary or the Guarantor has incurred
or undertaken any liability or obligation, whether direct or indirect,
liquidated or contingent, matured or unmatured, or entered into any
transaction, including any acquisition or disposition of any business or asset,
which is material to the Company, its subsidiary or the Guarantor, individually
or taken as a whole, except for liabilities, obligations and transactions that
are disclosed in the Offering Memorandum (or, if the Offering Memorandum is not
in existence, the most recent Preliminary Offering Memorandum).

 

(f)                                    Each
of the Company, its subsidiary and the Guarantor has been duly organized and is
validly existing as a corporation in good standing under the laws of its
jurisdiction of incorporation.  Each of
the Company, its subsidiary and the Guarantor has all requisite power and
authority to carry on its business as it is currently being conducted and as
disclosed in the Offering Memorandum (or, if the Offering Memorandum is not in
existence, the most recent Preliminary Offering Memorandum), and to own, lease
and operate its respective properties.

 

(g)                                 Each
of the Company, its subsidiary and the Guarantor is duly qualified and
authorized to do business and is in good standing as a foreign corporation in
each jurisdiction in which the character or location of its properties (owned
or leased) or the nature or conduct of its business requires such
qualification, except for those failures to be so qualified or in good standing
that, could not, individually or in the aggregate, reasonably be expected to
have a material adverse effect on (A) the business, condition (financial
or otherwise), results of operations, stockholders’ equity, properties or
prospects of the Company, its subsidiary or the Guarantor, taken as a whole;
(B) the long-term debt or capital stock of the Company, its subsidiary and
the Guarantor; (C) the issuance of the Notes or (D) the validity of
this Agreement or any other Offering Document or the transactions described in
the Offering Memorandum under the caption “Use of Proceeds” (any of the events
set forth in (A), (B), (C) or (D), a “Material Adverse Effect”).

 

(h)                                 UbiquiTel
Leasing Company is the only subsidiary of the Company within the meaning of
Rule 405 under the Act.

 

(i)                                     Except
for its subsidiary, the Company holds no ownership or other interest, nominal
or beneficial, direct or indirect, in any corporation, partnership, joint
venture or other business entity.  All
of the outstanding shares of capital stock of the Company have been duly
authorized and validly issued and are fully paid and non-assessable and are
owned, directly or indirectly, by the Guarantor, and all of the outstanding
shares of capital stock of the Company’s subsidiary have been duly authorized
and validly issued and are fully paid and non-assessable and are owned,
directly or indirectly, by the Company, in each case issued, in compliance with
all applicable state, federal and foreign securities laws and not in violation
of or subject to any preemptive or similar right that does or will entitle any
person, upon the issuance or sale of any security, to acquire from the Company,
its subsidiary or the Guarantor, any Relevant Security (as defined below) and
free and clear of any lien, charge, mortgage, pledge, security interest, claim,
limitation on voting rights, equity, trust or other encumbrance, preferential
arrangement, defect or restriction of any kind whatsoever (any “Lien”), except for
any such security interest, claim, lien,

 

4

 

limitation on voting
rights or encumbrance pursuant to the $277,700,000 Credit Agreement dated
March 31, 2000, among the Company, the Guarantor and the lenders a party
thereto (as amended, modified or supplemented as of the date of the Preliminary
Offering Memorandum, the “Credit
Agreement”).

 

(j)                                     Except
as disclosed in the Offering Memorandum (or, if the Offering Memorandum is not
in existence, the most recent Preliminary Offering Memorandum), none of the
Company, its subsidiary or the Guarantor have outstanding subscriptions, rights,
warrants, calls, commitments of sale or options to acquire, or any preemptive
rights or other rights to subscribe for or to purchase, or any contracts or
commitments to issue or sell, or instruments convertible into or exchangeable
for, any capital stock or other equity interest in, the Company, its subsidiary
or the Guarantor (any “Relevant Security”).

 

(k)                                  When
the Initial Notes and the Guarantees thereof are issued and delivered pursuant
to this Agreement, no Initial Note or Guarantee thereof will be of the same
class (within the meaning of Rule 144A under the Act) as securities of the
Company or any Guarantor that are listed on a national securities exchange
registered under Section 6 of the Exchange Act or that are quoted in a
United States automated inter-dealer quotation system.

 

(l)                                     Each
of the Company and the Guarantor has all requisite corporate power and
authority to execute, deliver and perform its obligations under this Agreement
and each of the other Offering Documents to which it is a party and to
consummate the transactions contemplated hereby and thereby, including, without
limitation, the corporate power and authority to issue, sell and deliver the
Notes and to issue and deliver the related Guarantees as provided herein and
therein.

 

(m)                               The
Initial Notes have been duly and validly authorized by the Company for issuance
and sale to the Initial Purchasers pursuant to this Agreement and, when duly
executed by the Company and authenticated by the Trustee in accordance with the
provisions of the Indenture and upon delivery to the Initial Purchasers against
payment therefor in accordance with the terms of this Agreement, will be
validly, issued and delivered and will constitute valid and legally binding
obligations of the Company, entitled to the benefits of the Indenture and
enforceable against the Company in accordance with their terms, except that the
enforcement thereof may be limited by (i) bankruptcy, insolvency,
reorganization, moratorium or other similar laws now or hereafter in effect
relating to or affecting creditors’ rights generally and (ii)  general
principles of equity (regardless of whether such enforcement is considered in a
proceeding at law or in equity) ((i) and (ii) are referred to herein
collectively as the “Enforceability Exceptions”).  At the Closing Date, the Initial Notes will conform in all
material respects to the description thereof in the Offering Memorandum, and
will be in the form contemplated by the Indenture.

 

(n)                                 The
Guarantees of the Initial Notes have been duly and validly authorized by the
Guarantor for issuance to the Initial Purchasers pursuant to this Agreement
and, when duly executed by the Guarantor in accordance with the provisions of
the Indenture and delivered to the Initial Purchasers in accordance with the
terms of this Agreement, upon the due execution and authentication of the
Initial Notes in accordance with the provisions of the Indenture and the
issuance and delivery of the Initial Notes to the Initial Purchasers in
accordance with the terms of this Agreement, will constitute valid and legally
binding obligations of the Guarantor, enforceable

 

5

 

against it in accordance
with their terms and entitled to the benefits of the Indenture, except that the
enforcement thereof may be limited by the Enforceability Exceptions.  At the Closing Date, the Guarantees of the
Initial Notes will conform in all material respects to the descriptions thereof
in the Offering Memorandum and will be in the form contemplated by the
Indenture.

 

(o)                                 The
Exchange Notes have been duly and validly authorized for issuance by the
Company and, when duly executed by the Company and authenticated by the Trustee
and issued and delivered in accordance with the terms of the Exchange Offer, the
Registration Rights Agreement and the Indenture, will constitute valid and
legally binding obligations of the Company, entitled to the benefits of the
Indenture and enforceable against the Company in accordance with their terms,
except that the enforcement thereof may be limited by the Enforceability
Exceptions.  When issued, the Exchange
Notes will conform in all material respects to the description thereof in the
Offering Memorandum, and will be in the form contemplated by the Indenture.

 

(p)                                 The
Guarantees of the Exchange Notes have been duly and validly authorized by the
Guarantor and, when duly executed by the Guarantor and delivered in accordance
with the provisions of the Indenture, upon the due execution and authentication
of the Exchange Notes and the issuance and delivery of the Exchange Notes in
accordance with the terms of the Exchange Offer, the Registration Rights
Agreement and the Indenture, will constitute valid and legally binding
obligations of the Guarantor, entitled to the benefits of the Indenture and
enforceable against the Guarantor in accordance with their terms, except that
the enforcement thereof may be limited by the Enforceability Exceptions.  When issued, the Guarantees of the Exchange
Notes will conform in all material respects to the description thereof in the
Offering Memorandum, and will be in the form contemplated by the Indenture.

 

(q)                                 The
Indenture has been duly and validly authorized by the Company and the Guarantor
and meets the requirements for qualification under the Trust Indenture Act of
1939, as amended (the “Trust Indenture Act”), and the rules and regulations of
the Commission applicable to an indenture so qualified, and, when duly executed
and delivered by the Company and the Guarantor (assuming the due authorization,
execution and delivery by the Trustee), will constitute a valid and legally
binding obligation of the Company and the Guarantor, enforceable against each
of the Company and the Guarantor in accordance with its terms, except that the
enforcement thereof may be limited by the Enforceability Exceptions.  At the Closing Date, the Indenture will
conform in all material respects to the description thereof in the Offering
Memorandum.

 

(r)                                    The
Registration Rights Agreement has been duly and validly authorized by the
Company and the Guarantor and, when duly executed and delivered by the Company
and the Guarantor (assuming the due authorization, execution and delivery by
the Initial Purchasers), will constitute a valid and legally binding obligation
of the Company and the Guarantor, enforceable against each of the Company and
the Guarantor in accordance with its terms, except that the enforcement thereof
may be limited by the Enforceability Exceptions and rights to indemnification
and contribution thereunder may be limited by applicable law or public
policy.  At the Closing Date, the
Registration Rights Agreement will conform in all material respects to the
description thereof in the Offering Memorandum.

 

6

 

(s)                                  This
Agreement has been duly and validly authorized, executed and delivered by the
Company and the Guarantor.

 

(t)                                    None
of the Company, its subsidiary or the Guarantor is (i) in violation of its
certificate or articles of incorporation, bylaws or other organizational
documents, (ii) in default under, and no event has occurred which, with
notice or lapse of time or both or otherwise, would constitute a default under,
or result in the creation or imposition of any Lien upon, any of its property
or assets pursuant to, any bond, debenture, note, indenture, mortgage, deed of
trust, loan agreement or other agreement or instrument to which it is a party
or by which it is bound or to which any of its properties or assets is subject,
or (iii) in violation of any law, rule, regulation, ordinance, directive,
judgment, decree or order of any judicial, regulatory, administrative or other
legal or governmental agency or body, foreign or domestic (including, without
limitation, the Federal Communications Act of 1934, as amended (the “Communications Act”)
and the rules or regulations of the Federal Communications Commission (the “FCC”) except (in the
case of clauses (ii) and (iii) above) defaults or violations that could not,
individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect and except (in the case of clause (ii) alone) for any Lien
disclosed in the Offering Memorandum (or, if the Offering Memorandum is not in
existence, the most recent Preliminary Offering Memorandum).

 

(u)                                 None
of (i) the execution, delivery, and performance by the Company or the
Guarantor of this Agreement and the other Offering Documents to which it is a
party, (ii) the issuance and sale of the Initial Notes, the issuance of
the Exchange Notes, the issuance of the Guarantees of the Initial Notes and the
issuance of the Guarantees of the Exchange Notes, and (iii) the
consummation by the Company of the transactions described in the Offering
Memorandum (or, if the Offering Memorandum is not in existence, the most recent
Preliminary Offering Memorandum) under the caption “Use of Proceeds,”
(A) violates, or will violate, conflicts with, or will conflict with, or
results, or will result in, a breach of any of the terms and provisions of, or
constitutes, or will constitute, a default (or an event that with notice or
lapse of time, or both, would constitute a default) under, or results, or will
result in, the creation or imposition of any Lien upon any properties or assets
of the Company, its subsidiary or the Guarantor, or an acceleration of any
indebtedness of the Company, its subsidiary or the Guarantor, pursuant to
(1) any provision of the certificate of incorporation, articles of
incorporation or bylaws or other organizational document, of the Company, its
subsidiary or the Guarantor, (2) any bond, debenture, note, indenture,
mortgage, deed of trust, loan agreement or other agreement or instrument to
which the Company, its subsidiary or the Guarantor is a party or by which the
Company, its subsidiary or the Guarantor, is bound or to which any of their
respective properties or assets are subject, (3) any law, rule, regulation
or ordinance (including, without limitation, the Communications Act and the
rules and regulations of the FCC) applicable to the Company, its subsidiary or
the Guarantor or any of their properties or assets, or (4) any directive,
judgment, order or decree of any judicial, regulatory, administrative or other
legal or governmental agency or body, foreign or domestic, (including, without
limitation, the FCC) except (in the case of clauses (2), (3) and (4) above) as
could not, individually or in the aggregate, reasonably be expected to have a
Material Adverse Effect.

 

(v)                                 Each
of the Company, its subsidiary and the Guarantor has or holds all necessary
consents, approvals, authorizations, orders, registrations, qualifications,
licenses, franchises, certificates, filings and permits of, with and from all
judicial, regulatory,

 

7

 

administrative and other
legal or governmental agencies or bodies, and all third parties, foreign and
domestic (collectively, the “Consents”) (including, without limitation, the FCC), to
own, lease and operate its properties and conduct its business as it is now
being conducted and as disclosed in the Offering Memorandum (or, if the
Offering Memorandum is not in existence, the most recent Preliminary Offering
Memorandum), except for such Consents the absence of which could not,
individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect, and each such Consent is valid and in full force and effect,
except where the failure of any such Consent to be so valid and in full force
and effect could not, individually or in the aggregate, reasonably be expected
to have a Material Adverse Effect, and none of the Company, its subsidiary or
the Guarantor has received notice of any investigation or proceedings that
results in or, if decided adversely to the Company, its subsidiary or the
Guarantor, could reasonably be expected to result in, the revocation of, or
imposition of a materially burdensome restriction on, any Consent.  Each of the Company, its subsidiary and the
Guarantor is in compliance in all material respects with the terms and conditions
of all such Consents and with the laws, rules, regulations, ordinances,
directives, judgments, decrees and orders of the governmental or regulatory
authorities (including, without limitation, the FCC) having jurisdiction with
respect thereto.  None of the Company,
its subsidiary or the Guarantor has any reason to believe that any governmental
or regulatory authority is considering revoking, suspending or terminating any
such Consent, and to the best knowledge of the Company, no event has occurred
that allows, or after notice or lapse of time would allow, such revocation,
suspension or termination or that results or would result in any other material
impairment of the rights of the holder of any such Consent.  Except as disclosed in the Offering Memorandum
(or, if the Offering Memorandum is not in existence, the most recent
Preliminary Offering Memorandum), no Consent contains a materially burdensome
restriction to the Company, its subsidiary or the Guarantor.

 

(w)                               No
Consent is required for (i) the execution, delivery and performance by each
of the Company and the Guarantor of this Agreement or consummation of the
Offering, the Exchange Offer and the other transactions contemplated by the
Offering Documents to which each of them, respectively, is a party or
(ii) the issuance, sale and delivery of the Initial Notes (and the
issuance of the Exchange Notes in connection with the Exchange Offer), and the
issuance of the Guarantee, except such Consents as have been or will be
obtained and made effective on or prior to the Closing Date (or, in the case of
the Registration Rights Agreement, will be obtained and made under the Act, the
Trust Indenture Act, and state securities or Blue Sky laws and regulations).

 

(x)                                   Except
as disclosed in the Offering Memorandum (or, if the Offering Memorandum is not
in existence, the most recent Preliminary Offering Memorandum), there is
(i) no judicial, regulatory, arbitral or other legal or governmental
action, suit, investigation or proceeding or other litigation or arbitration
before or by any court, arbitrator or regulatory, administrative or
governmental agency or body, foreign or domestic (including, without
limitation, the FCC), pending to which the Company, its subsidiary or the
Guarantor is or may be a party or, to the best knowledge of the Company, of which
the business, property, operations or assets of the Company, its subsidiary or
the Guarantor is or may be subject, (ii) no rule, regulation, ordinance,
directive, judgment, decree or order that has been enacted, adopted or issued
by any regulatory, administrative or governmental agency or body (including,
without limitation, the FCC) or that has been proposed by any regulatory,
administrative or governmental agency or body (including, without limitation,
the FCC) of which the business, property,

 

8

 

operations or assets of
the Company, its subsidiary or the Guarantor is or may be subject, and
(iii) no injunction, restraining order or order of any nature by a federal
or state court or foreign court of competent jurisdiction to which the Company,
its subsidiary or the Guarantor is or may be subject or to which the business,
property, operations or assets of the Company, its subsidiary or the Guarantor
is or may be subject, that, individually or in the aggregate, if determined
adversely to the Company, its subsidiary or the Guarantor, could reasonably be
expected to have a Material Adverse Effect; to the best knowledge of the
Company and the Guarantor, no such proceeding, litigation or arbitration is
threatened or contemplated.

 

(y)                                 After
giving effect to the transactions contemplated by each of the Offering
Documents, no event or condition exists that would constitute a default or an
event of default under any of the Offering Documents (in each case as defined
in each of the respective Offering Documents) that would result in a Material
Adverse Effect or materially adversely affect the ability of the Company to
consummate the Offering and the other transactions contemplated by the Offering
Documents, including, without limitation, the Exchange Offer.

 

(z)                                   No
action has been taken and no law, rule, regulation, ordinance, directive,
judgment, decree or order has been enacted, adopted or issued by any
regulatory, administrative or governmental agency or body (including, without
limitation, the FCC)  that prevents the
issuance of the Notes or the Guarantees or prevents or suspends the use of the
Offering Memorandum; no injunction, restraining order or order of any nature by
a federal or state court of competent jurisdiction has been issued that
prevents the issuance of the Notes or the Guarantees or prevents or suspends
the sale of the Initial Notes or the Guarantees in any jurisdiction referred to
in Section 2(f) hereof; and every request of any securities authority or agency
of any jurisdiction for additional information has been complied with in all
material respects.

 

(aa)                            There
is (i) no significant unfair labor practice complaint pending against the
Company, its subsidiary or the Guarantor nor, to the best knowledge of the
Company and the Guarantor, threatened against any of them, before the National
Labor Relations Board, any state or local labor relations board or any foreign
labor relations board, and no significant grievance or significant arbitration
proceeding arising out of or under any collective bargaining agreement is so
pending against the Company, its subsidiary or the Guarantor or, to the best
knowledge of the Company and the Guarantor, threatened against any of them,
(ii) no significant strike, labor dispute, slowdown, or stoppage pending
against the Company, its subsidiary or the Guarantor nor, to the best knowledge
of the Company and the Guarantor, threatened against any of them, (iii) no
labor disturbance by the employees of the Company, its subsidiary or the
Guarantor, or, to the best knowledge of the Company and the Guarantor, no such
disturbance is imminent and neither the Company nor the Guarantor is aware of
any existing or imminent labor disturbances by any of its principal suppliers,
manufacturers or contractors that, in any such case, could, individually or in
the aggregate, reasonably be expected to have a Material Adverse Effect, and
(iv) to the best knowledge of the Company and the Guarantor, no union
representation question is existing with respect to the employees of the
Company, its subsidiary or the Guarantor. 
To the best knowledge of the Company and the Guarantor, no collective
bargaining organizing activities are taking place with respect to the Company,
its subsidiary or the Guarantor.  None
of the Company, its subsidiary or the Guarantor has violated (i) any
federal, state or local law or foreign law relating to discrimination in
hiring, promotion or pay of employees, (ii) any applicable wage or hour
laws, or (iii) any provision of the Employee Retirement Income Security
Act of 1974, as amended,

 

9

 

including the rules,
regulations and published interpretations thereunder (“ERISA”),  except those violations that could not,
individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect.

 

(bb)                          There
has been no storage, generation, transportation, handling, treatment, disposal,
discharge, emission or other release of any kind of toxic or other wastes or
other hazardous substances by, due to, or caused by the Company, its subsidiary
or the Guarantor (or, to the best knowledge of the Company and the Guarantor,
any other entity for whose acts or omissions the Company is or may be liable)
upon any property now or previously owned or leased by the Company, its
subsidiary or the Guarantor that would be a violation of or give rise to any
liability under any applicable law, rule, regulation, ordinance, directive,
judgment, decree or order, relating to the protection of human health and
safety, the environment or hazardous or toxic substances or wastes, pollutants
or contaminants (“Environmental Law”).  Neither the Company nor the Guarantor has
agreed to assume, undertake or provide indemnification for any liability of any
other person under any Environmental Law, including any obligation for cleanup
or remedial action.  There is no pending
or, to the best knowledge of the Company and the Guarantor, threatened
administrative, regulatory or judicial action, claim or notice of noncompliance
or violation, investigation or proceedings relating to any Environmental Law
against the Company or the Guarantor.

 

(cc)                            There
is no alleged liability, or to the best knowledge of the Company and the
Guarantor, potential liability (including, without limitation, alleged or
potential liability or investigatory costs, cleanup costs, governmental
response costs, natural resource damages, property damages, personal injuries
or penalties) of the Company, its subsidiary or the Guarantor, arising out of,
based on or resulting from (i) the presence or release into the
environment of any Hazardous Material (as defined below) at any location,
whether or not owned by the Company, its subsidiary or the Guarantor, as the
case may be, or (ii) any violation or alleged violation of any
Environmental Law, other than as disclosed in the Offering Memorandum (or, if
the Offering Memorandum is not in existence, the most recent Preliminary
Offering Memorandum).  The term “Hazardous Material”
means (A) any “hazardous substance” as defined by the Comprehensive
Environmental Response, Compensation and Liability Act of 1980, as amended,
(B) any “hazardous waste” as defined by the Resource Conservation and
Recovery Act, as amended, (C) any petroleum or petroleum product,
(D) any polychlorinated biphenyl, and (E) any pollutant or
contaminant or hazardous, dangerous or toxic chemical, material, waste or
substance regulated under or within the meaning of any other law relating to
protection of human health or the environment or imposing liability or
standards of conduct concerning any such chemical material, waste or substance.

 

(dd)                          Each of
the Company, its subsidiary and the Guarantor own or lease all such properties
as are necessary to the conduct of its business as presently operated and as
described in the Offering Memorandum (or, if the Offering Memorandum is not in
existence, the most recent Preliminary Offering Memorandum).  Each of the Company, its subsidiary and the
Guarantor have (i) good and marketable title in fee simple to all of real
property and good and marketable title to all personal property owned by them,
in each case free and clear of all Liens except for Liens existing under the Credit Agreement, other Permitted Liens (as
defined in the Offering Memorandum or, if the Offering Memorandum is not
in existence, the most recent Preliminary Offering Memorandum), and such other Liens as do not,
individually or in the

 

10

 

aggregate, materially
affect the value of such property or interfere with the use made or proposed to
be made of such property by each of the Company, its subsidiary and the
Guarantor) and (ii) peaceful and undisturbed possession of any real
property and buildings held under lease or sublease by the Company, its
subsidiary and the Guarantor and such leased or subleased real property and
buildings are held by them under valid, subsisting and enforceable leases and
no default exists thereunder, (including, to the best knowledge of the Company
and the Guarantor, defaults by the landlord) with such exceptions as are not
material to, and do not interfere with, the use made and proposed to be made of
such property and buildings by each of the Company, its subsidiary and the
Guarantor.  None of the Company, its subsidiary
or the Guarantor has received any notice of any claim adverse to its ownership
of any real or personal property or of any claim against the continued
possession of any real property, whether owned or held under lease or sublease
by the Company, its subsidiary or the Guarantor that could, individually or in
the aggregate, reasonably be expected to have a Material Adverse Effect.

 

(ee)                            Each
of the Company, its subsidiary and the Guarantor (i) owns or possesses
adequate right to use all patents, patent applications, patent rights,
licenses, formulae, customer lists, inventions, copyrights, know-how (including
trade secrets and other unpatented and/or unpatentable proprietary or
confidential information, software, systems or procedures), trademarks, service
marks, trade names, trademark registrations, service mark registrations,
computer programs, technical data and information, and know-how and other
intellectual property (collectively, including trade secrets and other
unpatented and/or unpatentable proprietary or confidential information, systems
or procedures, the “Intellectual Property”)
necessary for the conduct of its business as presently being conducted and as
described in the Offering Memorandum 
(or, if the Offering Memorandum is not in existence, the most recent
Preliminary Offering Memorandum), and (ii) has no reason to believe that
the conduct of its business does or will conflict with, and has not received
any notice of any claim of conflict with, any such right of others (except for
such right, or claimed right pursuant to the Credit Agreement and except where
such right, or claimed right, could not, individually or in the aggregate,
reasonably be expected to have a Material Adverse Effect.)  To the best knowledge of the Company and the
Guarantor, all material technical information developed by and belonging to the
Company, its subsidiary and the Guarantor that has not been patented has been
kept confidential.  None of the Company,
its subsidiary or the Guarantor has granted or assigned to any other person or
entity any right to manufacture, have manufactured, assemble or sell the
current products and services of the Company, its subsidiary or the Guarantor,
except as disclosed in the Offering Memorandum (or, if the Offering Memorandum
is not in existence, the most recent Preliminary Offering Memorandum).  To the best knowledge of the Company and the
Guarantor, there is no infringement by third parties of any Intellectual
Property of the Company, its subsidiary or the Guarantor; there is no pending
or, to the best knowledge of the Company and the Guarantor, threatened action,
suit, proceeding or claim by others challenging the Company’s, its subsidiary’s
or the Guarantor’s rights in or to any Intellectual Property, except where any
such pending or threatened action, suit, proceeding or claim could not,
individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect, and the Company and the Guarantor are unaware of any facts that
would form a reasonable basis for any such claim; and there is no pending or,
to the best knowledge of the Company and the Guarantor, threatened action,
suit, proceeding or claim by others that any of the Company, its subsidiary or
the Guarantor infringes or otherwise violates any Intellectual Property of
others, except where such threatened or pending action, proceeding or claim
could not, individually or in the aggregate, reasonably be expected to have a

 

11

 

Material Adverse Effect,
and the Company and the Guarantor are unaware of any other fact that would form
a reasonable basis for any such claim.

 

(ff)                                Each
of the Company, its subsidiary and the Guarantor have accurately prepared and
timely filed all tax returns required to be filed by it and has paid or made
provision for the payment of all taxes, assessments, governmental or other
similar charges, including without limitation, all sales and use taxes and all
taxes that the Company, its subsidiary or the Guarantor is obligated to
withhold from amounts owing to employees, creditors and third parties, with
respect to the periods covered by such tax returns (whether or not such amounts
are shown as due on any tax return), except for such taxes the Company or the
Guarantor has contested in good faith. 
No deficiency assessment with respect to a proposed adjustment of the
Company’s, its subsidiary’s or any Guarantor’s federal, state, local or foreign
taxes is pending or, to the best knowledge of the Company and the Guarantor,
threatened.  To the best knowledge of
the Company and the Guarantor, there are no material proposed additional tax
assessments against the Company, its subsidiary or the Guarantor, or the assets
or property of the Company, its subsidiary or the Guarantor.  The accruals and reserves on the books and
records of the Company, its subsidiary and the Guarantor in respect of tax
liabilities for any taxable period not finally determined are adequate to meet
any assessments and related liabilities for any such period and, since December 31,
2003, neither the Company, its subsidiary nor the Guarantor has incurred any
liability for taxes other than in the ordinary course of its business.  There is no tax Lien, whether imposed by any
federal, state, foreign or other taxing authority, outstanding against the
assets, properties or business of the Company, its subsidiary or the Guarantor.

 

(gg)         Each of the Company, its subsidiary and
the Guarantor maintains a system of internal accounting and other controls
sufficient to provide reasonable assurances that (i) transactions are
executed in accordance with management’s general or specific authorizations,
(ii) transactions are recorded as necessary to permit preparation of
financial statements in conformity with generally accepted accounting
principles and to maintain accountability for assets, (iii) access to
assets is permitted only in accordance with management’s general or specific
authorization, and (iv) the recorded accounting for assets is compared
with existing assets at reasonable intervals and appropriate action is taken
with respect to any differences.

 

(hh)                          Each of
the Company, its subsidiary and the Guarantor maintains insurance in such
amounts and covering such risks as the Company reasonably considers adequate
for the conduct of its business and the value of its properties and as is
customary for other comparable PCS affiliates of Sprint (as defined in the
Offering Memorandum), all of which insurance is in full force and effect,
except where the failure to maintain such insurance could not, individually or
in the aggregate, reasonably be expected to have a Material Adverse
Effect.  There are no material claims by
the Company, its subsidiary or the Guarantor under any such policy or
instrument as to which any insurance company is denying liability or defending
under a reservation of rights clause. 
The Company reasonably believes that it will be able to renew its
existing insurance as and when such coverage expires or will be able to obtain
replacement insurance adequate for the conduct of the business and the value of
its properties at a cost that could not, individually or in the aggregate,
reasonably be expected to have a Material Adverse Effect.  None of the Company, its subsidiary or the
Guarantor has received notice from any insurer or agent of such insurer that
substantial capital improvements or other expenditures will have to be made in
order to continue such insurance.

 

12

 

(ii)                                  The
Company has in effect insurance covering the Company and its directors and
officers for liabilities or losses arising in connection with this Offering,
including, without limitation, liabilities or losses arising under the Act and
the Exchange Act.

 

(jj)                                  Except
as disclosed in the Offering Memorandum (or, if the Offering Memorandum is not
in existence, the most recent Preliminary Offering Memorandum), no
relationship, direct or indirect, exists between or among the Company, its
subsidiary or the Guarantor or any affiliate of the Company, on the one hand,
and any director, executive officer, stockholder, customer or supplier of the
Company, its subsidiary or the Guarantor or any affiliates of the Company, on
the other hand, that is required by the Exchange Act to be described in the
Guarantor’s annual and/or quarterly report on Form 10-K and 10-Q, that is not
so described or described as required in such reports, or that would be
required by the Act to be described in the Offering Memorandum if the Offering
Memorandum were a prospectus included in a registration statement on Form S-1
filed with the Commission.  There are no
outstanding loans, advances (except normal advances for business expenses in
the ordinary course of business) or guarantees of indebtedness by the Company
to or for the benefit of any of the officers or directors of the Company or any
of their respective family members.  The
Company has not, in violation of the Sarbanes-Oxley Act of 2002, directly or
indirectly, including through any subsidiary, extended or maintained credit,
arranged for the extension of credit, or renewed an extension of credit, in the
form of a personal loan to or for any director or executive officer of the
Company.

 

(kk)                            None
of the Company, its subsidiary or the Guarantor is, or after the sale of the
Initial Notes and application the net proceeds of such sale as described in the
Offering Memorandum (or, if the Offering Memorandum is not in existence, the
most recent Preliminary Offering Memorandum), under the caption “Use of
Proceeds,” will be, an “investment company” or a company “controlled” by an
“investment company” within the meaning of the Investment Company Act of 1940,
as amended (the “Investment Company Act”).

 

(ll)                                  Except
as disclosed in the Offering Memorandum (or, if the Offering Memorandum is not
in existence, the most recent Preliminary Offering Memorandum), no holder of
any Relevant Security has any rights to require registration of any Relevant
Security by reason of the execution by the Company or the Guarantor of this
Agreement or any other Offering Document to which it is a party or the
consummation by the Company or the Guarantor of the transactions contemplated
hereby and thereby, or as part or on account of, or otherwise in connection
with the Offering and any of the other transactions contemplated by the Offering
Documents, and any such rights so disclosed have been effectively waived by the
holders thereof, and any such waivers remain in full force and effect.

 

(mm)                      None of the
Company, its subsidiary or the Guarantor, or any of their respective affiliates
(within the meaning of Rule 144 under the Act) has (i) taken, directly or
indirectly, any action designed to, or that could reasonably be expected to,
cause or result in stabilization or manipulation of the price of any security
of the Company, its subsidiary or the Guarantor to facilitate the sale or
resale of the Notes or (ii) since the date of the Preliminary Offering
Memorandum (A) sold, bid for, purchased or paid any person any
compensation for soliciting purchases of the Notes or (B) paid or agreed
to pay to any person any compensation for soliciting another to purchase any
other securities of the Company, its subsidiary or the Guarantor.

 

13

 

(nn)                          None of
the Company, its subsidiary or the Guarantor or any of their respective
affiliates (as defined in Rule 501(b) of Regulation D under the Act) or
representatives directly, or through any agent (other than the Initial
Purchasers, as to whom the Company and the Guarantor make no representation),
(i) sold, offered for sale, solicited offers to buy or otherwise
negotiated in respect of any “security” (as defined in the Act) that is or
could be integrated with the sale of the Securities in a manner that would
require the registration under the Act of the Securities or (ii) engaged
in any form of general solicitation or general advertising (as those terms are
used in Regulation D under the Act) in connection with the offer and sale of
the Securities or in connection with Exempt Resales of the Securities, or in any
manner involving a public offering within the meaning of Section 4(2) of
the Act.  Assuming the accuracy of the
Initial Purchasers’ representations and warranties set forth in Section 3  hereof,
neither (i) the offer and sale of the Securities to the Initial Purchasers
in the manner contemplated by this Agreement and the Offering Memorandum nor
(ii) the Exempt Resales requires registration under the Act, and prior to
the effectiveness of any Registration Statement, the Indenture does not require
qualification under the Trust Indenture Act. 
No securities of the same class as the Securities have been offered and
sold by the Company, its subsidiary or the Guarantor within the six-month
period immediately prior to the date hereof.

 

(oo)                          The
financial statements, including the notes thereto, included in the Offering
Memorandum (or, if the Offering Memorandum is not in existence, the most recent
Preliminary Offering Memorandum), present fairly the financial position as of
the dates indicated and the cash flows and results of operations for the
periods specified of the Guarantor and its consolidated subsidiaries; except as
disclosed in the Offering Memorandum (or, if the Offering Memorandum is not in
existence, the most recent Preliminary Offering Memorandum), said financial
statements have been prepared in conformity with United States generally
accepted accounting principles applied on a consistent basis throughout the
periods involved.  No other financial
statements are required to be included in the Offering Memorandum (or, if the
Offering Memorandum is not in existence, the most recent Preliminary Offering
Memorandum), if the Offering Memorandum were included in a registration
statement filed pursuant to the Act. 
The other financial and statistical information included in the Offering
Memorandum (or, if the Offering Memorandum is not in existence, the most recent
Preliminary Offering Memorandum), presents fairly the information included
therein and has been prepared on a basis consistent with that of the historical
consolidated financial statements that are included in the Offering Memorandum
and the books and records of the respective entities presented therein, except
as otherwise disclosed in the Offering Memorandum (or, if the Offering
Memorandum is not in existence, the most recent Preliminary Offering
Memorandum), and, to the extent such information is a range, projection or
estimate, is based on the good faith belief and estimates of the management of
the Company, its subsidiary and the Guarantor.

 

(pp)                          PricewaterhouseCoopers
LLP, who have certified or will certify the consolidated financial statements
for the years ended December 31, 2003 and 2002 of the Company, its
subsidiary and the Guarantor and that are included as part of the Offering
Memorandum (or, if the Offering Memorandum is not in existence, the most recent
Preliminary Offering Memorandum), is an independent public accounting firm as
required by the Act and the Exchange Act. 
Arthur Andersen LLP, who have previously certified the consolidated financial
statements of the Company, its subsidiary and the Guarantor and that are
included as part of the 

 

14

 

Offering Memorandum, was
at the time of such certification, an independent public accounting firm.

 

(qq)                          The
statistical, industry-related and market-related data included in the Offering
Memorandum (or, if the Offering Memorandum is not in existence, the most recent
Preliminary Offering Memorandum) are based on or derived from management
estimates and third-party sources that the Company and the Guarantor reasonably
and in good faith believe to be reasonable, reliable and accurate, and such
data agree in all material respects with the sources from which they are
derived.

 

(rr)                                Each
of the Preliminary Offering Memorandum and the Offering Memorandum, as of its
date, and each amendment or supplement thereto, as of its date, contains or
will contain the information specified in, and meets in all material respects
the requirements of, Rule 144A(d)(4).

 

(ss)                            None
of the Company, the Guarantor nor any of their respective affiliates or any
person acting on its or their behalf (other than the Initial Purchasers, as to
whom the Company and the Guarantor make no representation) has engaged or will
engage in any directed selling efforts within the meaning of Regulation S with
respect to the Initial Notes.

 

(tt)                                The
Initial Notes offered and sold in reliance on Regulation S have been and will
be offered and sold only in offshore transactions.

 

(uu)                          The sale
of the Initial Notes pursuant to Regulation S is not part of a plan or scheme
to evade the registration provisions of the Act.

 

(vv)                          The
Company, the Guarantor and their respective affiliates and all persons acting
on their behalf (other than the Initial Purchasers, as to whom the Company and
the Guarantor make no representation) have complied with and will comply with
the offering restrictions requirements of Regulation S in connection with the
offering of the Initial Notes outside the United States and, in connection
therewith, the Offering Memorandum will contain the disclosure required by Rule
902(g)(2).

 

(ww)                      None of the
execution, delivery and performance of this Agreement, the issuance and sale of
the Securities, the application of the proceeds from the issuance and sale of
the Securities and the consummation of the transactions contemplated thereby as
set forth in the Offering Memorandum (or, if the Offering Memorandum is not in
existence, the most recent Preliminary Offering Memorandum), will violate
Regulations T, U or X promulgated by the Board of Governors of the Federal
Reserve System or analogous foreign laws and regulations, in each case as in
effect, or as the same may hereafter be in effect, on the Closing Date (the “Regulations”), and
none of the Company, its subsidiary or the Guarantor nor any agent thereof
acting on the behalf of any of them has taken, and none of them will take, any
action that might cause this Agreement or the issuance or sale of the Notes and
the Guarantees to violate the Regulations.

 

(xx)                              Neither
the Company nor the Guarantor is, nor will any of them be, after giving effect
to the execution, delivery and performance of the Offering Documents and the
consummation of the transactions contemplated thereby, (i) left with
unreasonably small capital

 

15

 

with which to carry on
their respective businesses as proposed to be conducted; (ii) unable to
pay their debts (contingent or otherwise) as they mature; or
(iii) insolvent.  The fair value
and present fair saleable value of the assets of the Company and the Guarantor
exceeds the amount that will be required to be paid on or in respect of its
existing debts and other liabilities (including contingent liabilities) as they
become absolute and matured.  The assets
of the Company and the Guarantor do not constitute unreasonably small capital
to carry out its business as conducted and disclosed in the Offering Memorandum
(or, if the Offering Memorandum is not in existence, the most recent Preliminary
Offering Memorandum).  Immediately after
the consummation of the Offering, (i) the fair value and present fair
saleable value of the assets of the Company and the Guarantor will exceed the
sum of their stated liabilities and identified contingent liabilities as they
become absolute and matured, and (ii) the assets of the Company and the
Guarantor will not constitute unreasonably small capital to carry out its
business as now conducted, including the capital needs of the Company and the
Guarantor, taking into account the projected capital requirements and capital
availability.

 

(yy)                          Except
pursuant to this Agreement, there are no contracts, agreements or
understandings between or among the Company, its subsidiary or the Guarantor,
and any other person that would give rise to a valid claim against the Company,
its subsidiary or the Guarantor or the Initial Purchasers for a brokerage
commission, finder’s fee or like payment in connection with the issuance,
purchase and sale of the Securities.

 

(zz)                              Except
as disclosed in the Offering Memorandum (or, if the Offering Memorandum is not
in existence, the most recent Preliminary Offering Memorandum), none of the
Company, its subsidiary or the Guarantor is in default under any of the
Offering Documents or any of the contracts described in the Offering Memorandum
(or, if the Offering Memorandum is not in existence, the most recent
Preliminary Offering Memorandum), has received a notice or claim of any such
default or has knowledge of any breach of such contracts by the other party or
parties thereto, except in each case such defaults or breaches as could not,
individually or in the aggregate, reasonably be expected to have a Material
Adverse Effect.

 

(aaa)                      The
Guarantor is subject to the reporting requirements of Section 13 or 15(d)
of the Exchange Act and files reports with the Commission on the EDGAR
System.  The Guarantor’s common stock
(the “Common Stock”)
is registered pursuant to Section 12(g) of the Exchange Act and the
outstanding shares of Common Stock are listed for quotation on the Nasdaq
National Market, and the Guarantor has taken no action designed to, or likely
to have the effect of, terminating the registration of the Common Stock under
the Exchange Act or de-listing the Common Stock from the Nasdaq National
Market, nor has the Company received any notification that the Commission or
the Nasdaq National Market is contemplating terminating such registration or
listing.

 

(bbb)                   The Guarantor
has filed in a timely manner each document or report required to be filed by it
pursuant to the Exchange Act; each such document or report (including any
financial statements) and any amendment thereto at the time it was filed
conformed in all material respects to the requirements of the Exchange Act and
the Act; and none of such documents or reports contained (or, when read
together with the other information in the Offering Memorandum, do contain) an
untrue statement of any material fact or omitted (or, when read together with
the other information in the Offering Memorandum, do omit) to state any
material

 

16

 

fact required to be
stated therein or necessary to make the statements therein not misleading as
the case may be and at all times up to and including the Closing Date, will not
contain an untrue statement of a material fact or omit to state a material fact
required to be stated therein or necessary in order to make the statements
therein in, the light of the circumstances under which they were made, not
misleading.

 

(ccc)                      None of the
Company, its subsidiary or the Guarantor, nor, to the best knowledge of the
Company and the Guarantor, none of its officers has at any time during the last
five years (i) made any unlawful contribution to any candidate for foreign
office, or failed to disclose fully any contribution in violation of law, or
(ii) made any payment to any federal or state governmental officer or
official, or other person charged with similar public or quasi-public duties,
other than payments required or permitted by the laws of the United States or
any jurisdiction thereof.

 

(ddd)                   The Company has
not distributed and, prior to the later to occur of (i) the Closing Date
and (ii) completion of the distribution of the Securities, will not
distribute any offering material in connection with the offering and sale of
the Securities other than the Preliminary Offering Memorandum and the Offering
Memorandum.

 

(eee)                      The
section entitled “Management’s Discussion and Analysis of Financial
Condition and Results of Operation–Critical Accounting Policies” in the
Offering Memorandum (or, if the Offering Memorandum is not in existence, the
most recent Preliminary Offering Memorandum), accurately and fully describes
(i) accounting policies that the Company believes are the most important
in the portrayal of the financial condition and results of operations of the
Guarantor and its consolidated subsidiaries and which require management’s most
difficult, subjective or complex judgments (“critical accounting policies”); and
(ii) judgments and uncertainties affecting the application of critical
accounting policies.

 

(fff)                            The
section entitled “Management’s Discussion and Analysis of Financial
Condition and Results of Operations – Liquidity and Capital Resources” in the
Offering Memorandum (or, if the Offering Memorandum is not in existence, the
most recent Preliminary Offering Memorandum) accurately and fully describes
(i) all material trends, demands, commitments, events, uncertainties and
risks, and the potential effects thereof, that the Company believes would
materially affect liquidity and are reasonably likely to occur; and
(ii) all off-balance sheet arrangements that have or are reasonably likely
to have a current or future effect on the financial condition, changes in financial
condition, revenues or expenses, results of operations, liquidity, capital
expenditures or capital resources of the Company and its subsidiary taken as a
whole.

 

(ggg)                   Except as
disclosed in the Offering Memorandum (or, if the Offering Memorandum is not in
existence, the most recent Preliminary Offering Memorandum), there are no
outstanding guarantees or other contingent obligations of the Company or the
Guarantor that could, individually or in the aggregate, reasonably be expected
to have a Material Adverse Effect.

 

(hhh)   To the best knowledge of the Company and
the Guarantor, the minute books and records of the Company, its subsidiary and
the Guarantor relating to all proceedings of their respective stockholders,
boards of directors, and committees of their respective boards of

 

17

 

directors made available
to Latham & Watkins LLP, counsel for the Initial Purchasers, are their
original minute books and records or are true, correct and complete copies
thereof, with respect to all proceedings of said stockholders, boards of
directors and committees since December 31, 2000 through the date
hereof.  In the event that definitive
minutes have not been prepared with respect to any proceedings of such
stockholders, boards of directors or committees, the Company and the Guarantor
have provided Latham & Watkins LLP with originals or true, correct and
complete copies of draft minutes or written agendas relating thereto, which
drafts and agendas, if any, reflect all events that occurred in connection with
such proceedings.  To the best knowledge
of the Company and the Guarantor, all material instruments, records, agreements
and other documents requested in Latham & Watkins LLP’s document request
letter dated January 22, 2004 have been provided to, or made available for
inspection by, Latham & Watkins LLP.

 

(iii)                               Each
certificate signed by or on behalf of the Company or the Guarantor and
delivered to the Initial Purchasers or counsel for the Initial Purchasers shall
be deemed to be a representation and warranty by the Company or the Guarantor,
as the case may be, to the Initial Purchasers as to the matters covered
thereby.

 

Each of the
Company and the Guarantor acknowledges that the Initial Purchasers and, for
purposes of the opinions to be delivered to the Initial Purchasers pursuant to
Section 10 hereof, counsel for the Company and the Guarantor and counsel
for the Initial Purchasers, will rely upon the accuracy and truth of the
foregoing representations and hereby consents to such reliance.

 

3.                                       Representations
and Warranties of the Initial Purchasers. 
Each of the Initial Purchasers, severally and not jointly, represents,
warrants and covenants to the Company and the Guarantor and agrees that:

 

(a)                                  Such
Initial Purchaser is an institutional “accredited investor” (as defined in Rule
501(a)(1), (2), (3) or (7) under the Act) with such knowledge and experience in
financial and business matters as are necessary in order to evaluate the merits
and risks of an investment in the Initial Notes.

 

(b)                                 Such
Initial Purchaser (i) is not acquiring the Initial Notes with a view to
any distribution thereof that would violate the Act or the securities laws of
any state of the United States or any other applicable jurisdiction and
(ii) will be reoffering and reselling the Initial Notes only to QIBs in
reliance on the exemption from the registration requirements of the Act
provided by Rule 144A and in offshore transactions in reliance upon Regulation
S under the Act.

 

(c)                                  Such
Initial Purchaser agrees that it has not offered or sold and will not offer or
sell the Initial Notes in the United States or to, or for the benefit or
account of, a U.S. Person (other than a distributor), in each case, as defined
in Rule 902 under the Act (i) as part of its distribution at any time and (ii)
otherwise until 40 days after the later of the commencement of the offering of
the Initial Notes pursuant hereto and the Closing Date, other than in
accordance with Regulation S of the Act or another exemption from the registration
requirements of the Act.  Such Initial
Purchaser agrees that, during such 40-day distribution compliance period, it
will not cause any advertisement with respect to the Initial Notes (including
any “tombstone” advertisement) to be published in any newspaper or periodical
or posted in any public place and

 

18

 

will not issue any
circular relating to the Initial Notes, except such advertisements as permitted
by and include the statements required by Regulation S.

 

(d)                                 Such
Initial Purchaser agrees that, at or prior to confirmation of a sale of Initial
Notes by it to any distributor, dealer or person receiving a selling
concession, fee or other remuneration during the 40-day distribution compliance
period referred to in Rule 903(b)(3) under the Act, it will send to such
distributor, dealer or person receiving a selling concession, fee or other
remuneration a confirmation or notice to substantially the following effect:

 

“The Initial Notes covered hereby have not been registered under the
U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered and
sold within the United States or to, or for the account or benefit of, U.S.
persons (i) as part of your distribution at any time or (ii) otherwise until 40
days after the later of the commencement of the Offering and the Closing Date,
except in either case in accordance with Regulation S under the Securities Act
or other exemption from the registration requirements of the Securities Act,
and in connection with any subsequent sale by you of the Initial Notes covered
hereby in reliance on Regulation S during the period referred to above to any
distributor, dealer or person receiving a selling concession, fee or other
remuneration, you must deliver a notice to substantially the foregoing
effect.  Terms used above have the
meanings assigned to them in Regulation S.”

 

(e)                                  No
form of general solicitation or general advertising (within the meaning of
Regulation D under the Act) has been or will be used by such Initial Purchaser
or any of its representatives in connection with the offer and sale of any of
the Initial Notes, including, but not limited to, articles, notices or other
communications published in any newspaper, magazine, or similar medium or
broadcast over television or radio, or any seminar or meeting whose attendees
have been invited by any general solicitation or general advertising.

 

(f)                                    Such
Initial Purchaser agrees that, in connection with the Exempt Resales, it will
solicit offers to buy the Initial Notes only from, and will offer to sell the
Initial Notes only to, Eligible Purchasers. 
Such Initial Purchaser further (i) agrees that it will offer to
sell the Initial Notes only to, and will solicit offers to buy the Initial Notes
only from (A) Eligible Purchasers that the Initial Purchasers reasonably
believes are QIBs, and (B) Reg S Investors,  (ii) acknowledges
and agrees that, in the case of such QIBs and such Reg S Investors, that such
Initial Notes will not have been registered under the Act and may be resold,
pledged or otherwise transferred only (A)(1) to a person whom the seller
reasonably believes is a QIB purchasing for its own account or for the account
of a QIB in a transaction meeting the requirements of Rule 144A, (2) in an
offshore transaction (as defined in Rule 902 under the Act) meeting the
requirements of Rule 904 under the Act, (3) in a transaction meeting the
requirements of Rule 144 under the Act, (4) to an institutional
“accredited investor” (as defined in Rule 501(a)(1), (2), (3) or (7) of the
Act) that, prior to such transfer, furnishes the Trustee a signed letter
containing certain representations and agreements (the form of which can be
obtained from the Trustee)  and, if such transfer is in respect of an
aggregate principal amount of Initial Notes less than $250,000, an opinion of
counsel acceptable to the Company that such transfer is in compliance with the
Act or (5) in accordance with another exemption from the registration
requirements of the Act (and based upon an opinion of counsel, if the Company
so requests), (B) to the Company, (C) pursuant

 

19

 

to an effective
registration statement under the Act and, in each case, in accordance with any
applicable securities laws of any state of the United States or any other
applicable jurisdiction and (iii) acknowledges that it will, and each
subsequent holder is required to, notify any purchaser of the security
evidenced thereby of the resale restrictions set forth in (ii) above.

 

(g)                                 Such
Initial Purchaser and its affiliates or any person acting on its or their
behalf have not engaged or will not engage in any directed selling efforts
within the meaning of Regulation S with respect to the Initial Notes or the
Guarantees thereof.

 

(h)                                 The
Initial Notes offered and sold by such Initial Purchaser pursuant hereto in
reliance on Regulation S have been and will be offered and sold only in
offshore transactions.

 

(i)                                     The
sale of Initial Notes offered and sold by such Initial Purchaser pursuant
hereto in reliance on Regulation S is not part of a plan or scheme to evade the
registration provisions of the Act.

 

The Initial
Purchasers acknowledge that the Company and the Guarantor and, for purposes of
the opinions to be delivered to the Initial Purchasers pursuant to
Section 10 hereof, counsel for the Company and the Guarantor and counsel
for the Initial Purchasers will rely upon the accuracy and truth of the
foregoing representations and hereby consent to such reliance.

 

4.                                       Purchase,
Sale and Delivery.

 

(a)                                  On
the basis of the representations, warranties and covenants contained in this
Agreement, and subject to its terms and conditions, the Company agrees to issue
and sell to each Initial Purchaser, and each Initial Purchaser agrees,
severally and not jointly, to purchase from the Company, the principal amounts
of Initial Notes set forth opposite the name of such Initial Purchaser on Schedule I.
The purchase price for the Initial Notes will be $957.60 per $1,000 principal
amount Initial Note.

 

(b)                                 On
the Closing Date, the Company shall deliver to the Initial Purchasers, in such
denomination or denominations and registered in such name or names as the
Initial Purchasers request upon notice to the Company, (i) one or more
Initial Notes in definitive global form, registered in the name of Cede &
Co., as nominee of The Depository Trust Company (“DTC”), having an aggregate amount
corresponding to the aggregate principal amount of the Initial Notes sold
pursuant to Exempt Resales to QIBs (the “Global Note”) and (ii) if any Exempt Resales are
made in reliance on Regulation S, one or more Initial Notes in definitive form,
registered in the name of Cede & Co., as nominee of DTC, having an
aggregate amount corresponding to the aggregate amount of the Initial Notes, if
any, sold pursuant to Exempt Resales in offshore transactions in reliance on
Regulation S (the “Regulation S Global
Note”), against payment of the purchase price therefor by wire
transfer of same-day funds to the account of the Company, previously designated
by it in writing.  Such delivery of and
payment for the Initial Notes shall be made at the offices of Latham &
Watkins LLP, 885 Third Avenue, Suite 1000, New York, New York, 10022 or such
other location as may be mutually acceptable. 
Such delivery and payment shall be made at 9:30 a.m., New York City
time, on February 23, 2004 or at such other time as shall be agreed upon
by the Initial Purchasers and the Company. 
The time and date of such delivery and payment are herein called the “Closing Date.”  The Global Note and the

 

20

 

Regulation S Global Note
shall be made available to the Initial Purchasers for inspection not later than
5:00 p.m., New York City time, on the business day immediately preceding the
Closing Date.

 

5.                                       Offering
by Initial Purchasers.  The Initial
Purchasers propose to make an offering of the Securities at the price and upon
the terms set forth in the Offering Memorandum as soon as practicable after
this Agreement is entered into and as, in the judgment of the Initial
Purchasers, is advisable.

 

6.                                       Agreements
of the Company and the Guarantor. 
Each of the Company and the Guarantor covenants and agrees with the
Initial Purchasers that:

 

(a)                                  The
Company and the Guarantor shall advise the Initial Purchasers promptly and, if
requested by the Initial Purchasers, confirm such advice in writing,
(i) of the issuance by any state securities commission or other regulatory
authority of any stop order or order suspending the qualification or exemption
from qualification of any Notes or the Guarantees thereof for offering or sale
in any jurisdiction, or the initiation of any proceeding for such purpose by
any state securities commission or other regulatory authority. and (ii) of
the happening of any event that makes any statement of a material fact made in
the Preliminary Offering Memorandum or the Offering Memorandum untrue or that
requires the making of any additions to or changes in the Preliminary Offering
Memorandum or the Offering Memorandum in order to make the statements in the
Preliminary Offering Memorandum or the Offering Memorandum not misleading in
the light of the circumstances existing at the time it is delivered to an
Eligible Purchaser.  The Company and the
Guarantor shall use their commercially reasonable efforts to prevent the
issuance of any stop order or order suspending the qualification or exemption
from qualification of any Notes or the Guarantees thereof under any state
securities or Blue Sky laws and, if at any time any state securities commission
or other regulatory authority issues an order suspending the qualification or
exemption from qualification of any Notes or the Guarantees thereof under any
state securities or Blue Sky laws, the Company and the Guarantor shall use
their commercially reasonable efforts to obtain the withdrawal or lifting of
such order at the earliest possible time.

 

(b)                                 The
Company and the Guarantor shall, without charge, provide to the Initial
Purchasers, to counsel to the Initial Purchasers and to those persons
identified by the Initial Purchasers to the Company as many copies of the
Preliminary Offering Memorandum and the Offering Memorandum, and any amendments
or supplements thereto, as the Initial Purchasers may reasonably request.  The Company and the Guarantor consent to the
use of the Preliminary Offering Memorandum and the Offering Memorandum, and any
amendments and supplements thereto required pursuant hereto, by the Initial
Purchasers in connection with Exempt Resales.

 

(c)                                  Neither
the Company nor the Guarantor will amend or supplement the Preliminary Offering
Memorandum or the Offering Memorandum or any amendment or supplement thereto
during such period as the Preliminary Offering Memorandum or the Offering
Memorandum is required by law to be delivered in connection with Exempt
Resales, unless the Initial Purchasers previously have been advised thereof and
furnished a copy for a reasonable period of time and as to which the Initial
Purchasers have given their consent.  The
Company and the Guarantor shall promptly make any amendment or supplement to
the Preliminary Offering

 

21

 

Memorandum or the
Offering Memorandum that may be necessary or advisable in connection with such
Exempt Resales.

 

(d)                                 If,
during the period referred to in 6(c) above, any event occurs as a result of
which, it is necessary or advisable, to amend or supplement the Preliminary
Offering Memorandum or the Offering Memorandum in order to make such Preliminary
Offering Memorandum or Offering Memorandum not misleading in the light of the
circumstances existing at the time it is delivered to an Eligible Purchaser, or
if for any other reason it shall be is necessary or advisable to amend or
supplement the Preliminary Offering Memorandum or the Offering Memorandum to
comply with applicable laws, rules or regulations, the Company and the
Guarantor shall (subject to Section 6(c)) promptly amend or supplement
such Preliminary Offering Memorandum or Offering Memorandum at its own expense
so that, as so amended or supplemented, such Preliminary Offering Memorandum or
Offering Memorandum will not include an untrue statement of a material fact or
omit to state a material fact necessary in order to make the statements therein,
in light of the circumstances existing at the time it is so delivered, not
misleading or such Preliminary Offering Memorandum or Offering Memorandum will
comply with all applicable laws, rules or regulations.

 

(e)                                  The
Company and the Guarantor shall cooperate with the Initial Purchasers and
counsel for the Initial Purchasers in connection with the qualification or
registration of the Initial Notes and the Guarantees thereof for offering and
sale under the securities or “Blue Sky” laws of such jurisdictions as the
Initial Purchasers may designate and shall continue such qualifications in
effect for as long as may be necessary to complete the Exempt Resales; provided,
however, that in connection therewith neither the Company nor the
Guarantor shall be required to qualify as a foreign corporation where it is not
now so qualified or to execute a general consent to service of process in any
jurisdiction or to take any other action that would subject it to general
service of process or to taxation in respect of doing business in any
jurisdiction in which it is not otherwise subject, in each case, other than as
to matters and transactions relating to the Preliminary Offering Memorandum,
the Offering Memorandum or Exempt Resales.

 

(f)                                    If
this Agreement terminates or is terminated after execution because of any
failure or refusal on the part of the Company or the Guarantor to comply with
the terms or fulfill any of the conditions of this Agreement, the Company shall
reimburse the Initial Purchasers for all reasonable out-of-pocket expenses
(including fees and expenses of counsel for the Initial Purchasers) incurred by
the Initial Purchasers in connection herewith.

 

(g)                                 The
Company shall apply the net proceeds from the sale of the Initial Notes in the
manner set forth under “Use of Proceeds” in the Offering Memorandum and shall
provide the Initial Purchasers with evidence of any application of net proceeds
on the date of each such application.

 

(h)                                 The
Company and the Guarantor shall not voluntarily claim, and shall actively
resist any attempts to claim, the benefit of any usury laws against the holders
of any Notes.

 

(i)                                     None
of the Company, its subsidiary or the Guarantor or any of their respective
affiliates (as defined in Rule 501(b) of Regulation D under the Act) will
sell, offer for

 

22

 

sale or solicit offers to
buy or otherwise negotiate in respect of any “security” (as defined in the Act)
that could be integrated with the sale of the Securities in a manner that would
require the registration under the Act of the sale to the Initial Purchasers or
the Eligible Purchasers of the Securities or to take any other action that
would result in the Exempt Resales not being exempt from registration under the
Act.

 

(j)                                     For
so long as any of the Notes remain outstanding and are “restricted securities”
within the meaning of Rule 144(a)(3) under the Act and are not able to be sold
in their entirety under Rule 144 under the Act (or any successor provision),
for the benefit of holders from time to time of Initial Notes, the Company will
furnish at its expense, upon request, to any holder or beneficial owner of
Initial Notes and prospective purchasers of the Initial Notes, information
specified in Rule 144A(d)(4) under the Act, unless the Company and the
Guarantor are then subject to Section 13 or 15(d) of the Exchange Act.

 

(k)                                  The
Company and the Guarantor shall comply with all of the agreements set forth in
the representation letters to DTC relating to the approval of the Notes by DTC
for “book-entry” transfer.

 

(l)                                     The
Company and the Guarantor shall (i) permit the Notes to be included for
quotation on the PORTAL market and (ii) permit the Notes to be eligible
for clearance and settlement through DTC.

 

(m)                               During
the period of three years from the Closing Date, the Company and the Guarantor
shall deliver without charge to the Initial Purchasers (i) as soon as
available, copies of each report and other communication (financial or
otherwise) of the Company mailed to the Trustee of the holders of the Notes or
stockholders (including without limitation, press releases) other than
materials filed with or furnished to the Commission and (ii)  from time to
time such other information concerning the Company, its subsidiary and the Guarantor
as the Initial Purchasers may reasonably request, subject, in the case of
information that is not public, to execution by the Initial Purchasers of
confidentiality agreements reasonably satisfactory to the Company and the
Guarantor.

 

(n)                                 Prior
to the Closing Date, the Company shall furnish to the Initial Purchasers, as
soon as they have been prepared in the ordinary course by the Company, copies
of any unaudited interim consolidated financial statements of the Guarantor for
any period subsequent to the periods covered by the financial statements
appearing in the Offering Memorandum.

 

(o)                                 Each
of the Company and the Guarantor shall not take, directly or indirectly, any
action designed to, or that could reasonably be expected to, cause or result in
stabilization or manipulation of the price of any security of the Company or
the Guarantor to facilitate the sale or resale of the Notes, or take any action
prohibited by Regulation M under the Exchange Act, in connection with the
distribution of the Securities and the Exchange Securities contemplated
hereby.  Except as permitted by the Act,
neither the Company nor the Guarantor will distribute any (i) preliminary
offering memorandum, including, without limitation, the Preliminary Offering
Memorandum, (ii) offering memorandum, including, without limitation, the

 

23

 

Offering Memorandum, or
(iii) other offering material in connection with the offering and sale of
the Securities.

 

(p)                                 For
so long as the Notes constitute “restricted” securities within the meaning of
Rule 144(a)(3) under the Act, the Company and the Guarantor shall not, and
shall not permit its subsidiary to, solicit any offer to buy or offer to sell
the Notes by means of any form of general solicitation or general advertising
(as those terms are used in Regulation D under the Act) or in any manner
involving a public offering within the meaning of Section 4(2) of the Act.

 

(q)                                 During
the period from the Closing Date until two years after the Closing Date, without
the prior written consent of the Initial Purchasers, the Company and the
Guarantor shall not, and shall not permit any of their respective “affiliates”
(as defined in Rule 144 under the Act) to, resell any of the Securities or
the Exchange Securities that constitute “restricted securities” under Rule 144
that have been reacquired by any of them.

 

(r)                                    The
Company and the Guarantor shall do and perform all things required or necessary
to be done and performed under this Agreement prior to or after the Closing
Date and to satisfy all conditions precedent to the delivery of the Initial
Notes and the Guarantees thereof.

 

7.                                       Expenses.  Whether or not the transactions contemplated
by this Agreement are consummated or this Agreement becomes effective or is
terminated (pursuant to Section 14  or otherwise), the Company and the
Guarantor agree to pay all the following costs and expenses and all other
costs, expenses, fees and taxes incident to the performance by the Company and
the Guarantor of their obligations hereunder: 
(i) the negotiation, preparation, printing, typing, filing,
reproduction, execution and delivery of this Agreement and of the other
Offering Documents, any amendment or supplement to or modification of any of
the foregoing and any and all other documents furnished pursuant hereto or
thereto or in connection herewith or therewith and with the Exempt Resales;
(ii) the preparation, printing or reproduction of the Preliminary Offering
Memorandum, and the Offering
Memorandum (including, without limitation, financial statements) and all
amendments and supplements to any of them; (iii) the issuance, transfer
and delivery of the Initial Notes and the Guarantees thereof to the Initial
Purchasers; (iv) the registration or qualification of the Notes and the
Guarantees thereof for offer and sale under the securities or Blue Sky laws of
the several states (including, without limitation, filing fees, the cost of
printing and mailing a preliminary and final Blue Sky memorandum, and the
reasonable fees and disbursements of counsel to the Initial Purchasers relating
to such registration or qualification); (v) the delivery (including
postage, air freight charges and charges for counting and packaging) of such
copies of each Preliminary Offering Memorandum, the Offering Memorandum and all
amendments or supplements to any of them as may be requested for use in
connection with the offering and sale of the Notes and the Exempt Resales;
(vi) the preparation, printing, authentication, issuance and delivery of
certificates for the Notes, including any stamp taxes in connection with the
original issuance and sale of the Notes; (vii) the fees, disbursements and
expenses of the Company’s and the Guarantor’s counsel (including local and
special counsel, if any) and accountants, (viii) all fees and expenses
(including fees and expenses of counsel) of the Company and the Guarantor in
connection with the approval of the Notes by DTC for “book-entry” transfer;
(ix) any fees charged by investment rating agencies for the rating of the
Notes; (x) the fees and expenses of the Trustee and its counsel;
(xi) all expenses incurred in connection with the performance by the
Company and the Guarantor of their other obligations under this

 

24

 

Agreement and the other
Offering Documents; (xii) the transportation and other “roadshow” expenses
incurred by or on behalf of the Company representatives in connection with
presentations to and related communications with prospective purchasers of the
Notes; and (xiii) all expenses and listing fees incurred in connection
with the application for quotation of the Notes on the PORTAL Market.

 

8.                                       Indemnification.

 

(a)                                  The
Company and the Guarantor, jointly and severally, shall indemnify and hold
harmless (i) each Initial Purchaser, (ii) each person, if any, who
controls an Initial Purchaser within the meaning of Section 15 of the Act
or Section 20(a) of the Exchange Act, and (iii) the respective
officers, directors, partners, employees, representatives and agents of the
Initial Purchasers or any controlling person, from and against any and all
losses, liabilities, claims, damages and expenses as incurred (including but
not limited to attorneys’ fees and other expenses incurred in investigating,
preparing or defending against any investigation or litigation, commenced or
threatened, and amounts paid in settlement of any claim or litigation), joint
or several, to which they or any of them may become subject under the Act, the
Exchange Act or otherwise, insofar as such losses, liabilities, claims, damages
or expenses (or actions in respect thereof) arise out of or are based upon (A)
any untrue statement or alleged untrue statement of a material fact contained
in the Preliminary Offering Memorandum or the Offering Memorandum, or in any
supplement thereto or amendment thereof, or (B) the omission or alleged
omission to state in the Preliminary Offering Memorandum or the Offering
Memorandum, or in any supplement thereto or amendment thereof, a material fact
required to be stated therein or necessary to make the statements therein, in
light of the circumstances under which they were made, not misleading; provided,
however,
that neither the Company nor the Guarantor will be liable in any such case to
the extent, but only to the extent, that any such loss, liability, claim,
damage or expense arises out of or is based upon (i) the gross negligence or
willful misconduct of such Initial Purchaser as determined in a final judgment
by a court of competent jurisdiction or (ii) any such untrue statement or
alleged untrue statement or omission or alleged omission made therein in
reliance upon and in conformity with written information relating to the
Initial Purchasers furnished to the Company and the Guarantor by or on behalf
of the Initial Purchasers expressly for use therein.  The parties acknowledge and agree that such information provided
by or on behalf of the Initial Purchasers consists solely of the material
identified in Section 11 hereof. 
This indemnity agreement will be in addition to any liability that the
Company and the Guarantor may otherwise have, including under this Agreement.

 

(b)                                 Each
Initial Purchaser agrees, severally and not jointly, to indemnify and hold
harmless (i) the Company and the Guarantor, (ii) each person, if any,
who controls the Company or the Guarantor within the meaning of Section 15
of the Act or Section 20(a) of the Exchange Act, and (iii) the
officers, directors, partners, employees, representatives and agents of the
Company and the Guarantor, against any and all losses, liabilities, claims,
damages and expenses as incurred (including but not limited to attorneys’ fees
and other expenses incurred in investigating, preparing or defending against
any investigation or litigation, commenced or threatened, and amounts paid in
settlement of any claim or litigation), joint or several, to which they or any
of them may become subject under the Act, the Exchange Act or otherwise,
insofar as such losses, liabilities, claims, damages or expenses (or actions in
respect thereof) arise out of or are based upon any untrue statement or alleged
untrue statement of a material fact contained in the 

 

25

 

Preliminary Offering
Memorandum or the Offering Memorandum, or in any amendment thereof or
supplement thereto, or arise out of or are based upon the omission or alleged
omission to state therein a material fact required to be stated therein or
necessary to make the statements therein, in light of the circumstances under
which they were made, not misleading, in each case to the extent, but only to
the extent, that any such loss, liability, claim, damage or expense arises out
of or is based upon (i)  the gross
negligence or willful misconduct of such Initial Purchaser as determined in a
final judgment by a court of competent jurisdiction or (ii) any untrue
statement or alleged untrue statement or omission or alleged omission made
therein in reliance upon and in conformity with written information relating to
such Initial Purchaser furnished to the Company and the Guarantor by or on
behalf of such Initial Purchaser expressly for use therein; provided,
however,
that in no case shall any Initial Purchaser be liable or responsible for any
amount in excess of the discounts and commissions received by such Initial
Purchaser.  The parties acknowledge and
agree that such information provided by or on behalf of the Initial Purchasers
consists solely of the material identified in Section 11  hereof.  This
indemnity will be in addition to any liability that the Initial Purchasers may
otherwise have, including under this Agreement.

 

(c)                                  Promptly
after receipt by an indemnified party under subsection (a) or (b) above of
notice of the commencement or threat of any action, such indemnified party
shall, if a claim in respect thereof is to be made against the indemnifying
party under such subsection, notify each party against whom indemnification is
to be sought in writing of the commencement or threat thereof (provided that the failure so to notify an
indemnifying party shall relieve it from any liability that it may have under
this Section 8 solely to the extent that such failure to provide notice
forfeits or materially prejudices any defense otherwise available to such
indemnifying party).  In case any such
action is, or is threatened to be, brought against any indemnified party, and
it notifies an indemnifying party of the commencement or threat thereof, the
indemnifying party will be entitled to participate, at its own expense in the
defense of such action, and to the extent it may elect by written notice
delivered to the indemnified party promptly after receiving the aforesaid
notice from such indemnified party, to assume the defense thereof with counsel
reasonably satisfactory to such indemnified party; provided, however,
that counsel to the indemnifying party shall not (except with the written
consent of the indemnified party) also be counsel to the indemnified
party.  Notwithstanding the foregoing,
the indemnified party or parties shall have the right to participate in such
defense and to employ its or their own counsel in any such case, but the fees
and expenses of such counsel shall be at the expense of such indemnified party
or parties unless (i) the employment of such counsel has been authorized in
writing by one of the indemnifying parties in connection with the defense of
such action, (ii) the indemnifying parties have not employed counsel to
take charge of the defense of such action within a reasonable time after notice
of commencement of the action, (iii) the indemnifying party does not
diligently defend the action after assumption of the defense, or (iv) the named
parties to any such action (including impleaded parties) include both the
indemnified party and the indemnifying party and the indemnified party or
parties has reasonably concluded that there may be defenses available to it or
them that are different from or additional to those available to one or all of
the indemnifying parties (in which case the indemnifying party or parties shall
not have the right to direct the defense of such action on behalf of the
indemnified party or parties), in any of which events such fees and expenses of
counsel shall be borne by the indemnifying parties.  In any such case, the indemnifying party shall not, in connection
with any one action or separate but substantially similar or related actions in
the same jurisdiction arising out of the same general allegations or
circumstances, be liable for the fees and expenses of more than one separate
firm of

 

26

 

attorneys (in addition to
any local counsel) for all indemnified parties and all such fees and expenses
shall be reimbursed as they are incurred. 
Such firm shall be designated in writing by a majority of the Initial
Purchasers, in the case of the parties indemnified pursuant to
Section 8(a), and by the Company and Guarantor(s), in the case of parties
indemnified pursuant to section 8(b). 
No indemnifying party shall, without the prior written consent of the
indemnified parties, effect any settlement or compromise of, or consent to the
entry of judgment with respect to, any pending or threatened claim,
investigation, action or proceeding in respect of which indemnity or
contribution may be or could have been sought by an indemnified party under
this Section 8 or Section 9 hereof (whether or not the indemnified
party is an actual or potential party thereto), unless (x) such
settlement, compromise or judgment (1) includes an unconditional release
of the indemnified party from all liability arising out of such claim,
investigation, action or proceeding and (2) does not include a statement
as to or an admission of fault, culpability or any failure to act, by or on
behalf of the indemnified party, and (y) the indemnifying party confirms
in writing its indemnification obligations hereunder with respect to such
settlement, compromise or judgment.

 

9.                                       Contribution.  In order to provide for contribution in
circumstances in which the indemnification provided for in Section 8 is
for any reason held to be unavailable from an indemnifying party or is
insufficient to hold harmless a party indemnified thereunder, the Company and
the Guarantor, on the one hand, and the Initial Purchasers, on the other hand,
shall contribute to the aggregate losses, liabilities, claims, damages and
expenses of the nature contemplated by such indemnification provision
(including any investigation, legal and other expenses incurred in connection
with, and any amount paid in settlement of, any action, suit or proceeding or
any claims asserted, but after deducting in the case of losses, liabilities,
claims, damages and expenses suffered by the Company or the Guarantor, any
contribution received by the Company and the Guarantor from persons, other than
the Initial Purchasers, who may also be liable for contribution, including
persons who control the Company or the Guarantor within the meaning of
Section 15 of the Act or Section 20(a) of the Exchange Act) to which
the Company, the Guarantor and the Initial Purchasers may be subject, in such
proportion as is appropriate to reflect the relative benefits received by the
Company and the Guarantor, on the one hand, and the Initial Purchasers, on the
other hand, from the offering of the Initial Notes or, if such allocation is
not permitted by applicable law or indemnification is not available as a result
of the indemnifying party’s not having received notice as provided in
Section 8, in such proportion as is appropriate to reflect not only the
relative benefits referred to above but also the relative fault of the Company
and the Guarantor, on the one hand, and the Initial Purchasers, on the other
hand, in connection with the statements or omissions that resulted in such
losses, liabilities, claims, damages or expenses, as well as any other relevant
equitable considerations.  The relative
benefits received by the Company and the Guarantor, on the one hand, and the
Initial Purchasers, on the other hand, shall be deemed to be in the same
proportion as (i) the total proceeds from the offering of the Initial
Notes (net of discounts and commissions but before deducting expenses) received
by the Company and the Guarantor bear to (ii) the discounts and
commissions received by the Initial Purchasers, respectively.  The relative fault of the Company and the
Guarantor, on the one hand, and of the Initial Purchasers, on the other hand,
shall be determined by reference to, among other things, whether the untrue or
alleged untrue statement of a material fact or the omission or alleged omission
to state a material fact relates to information supplied by the Company, the
Guarantor or any Initial Purchaser and the parties’ relative intent, knowledge,
access to information and opportunity to correct or prevent such statement or
omission.  The Company, the Guarantor
and

 

27

 

the Initial Purchasers
agree that it would not be just and equitable if contribution pursuant to this
Section 9 were determined by pro rata allocation (even if the Initial
Purchasers were treated as one entity for such purpose) or by any other method
of allocation that does not take into account the equitable considerations
referred to above.  The aggregate amount
of losses, liabilities, claims, damages and expenses incurred by an indemnified
party and referred to above in this Section 9 shall be deemed to include
any legal or other expenses reasonably incurred by such indemnified party in
investigating, preparing or defending against any litigation, or any investigation
or proceeding by any judicial, regulatory, administrative or other legal or
governmental agency or body, commenced or threatened, or any claim whatsoever
based upon any such untrue or alleged untrue statement or omission or alleged
omission.  Notwithstanding the
provisions of this Section 9, (i) in no case shall any Initial
Purchaser be required to contribute any amount in excess of the amount by which
the discounts and commissions applicable to the Initial Notes purchased by such
Initial Purchaser pursuant to this Agreement exceeds the amount of damages that
the Initial Purchasers has otherwise been required to pay by reason of any
untrue or alleged untrue statement or omission or alleged omission and
(ii) no person guilty of fraudulent misrepresentation (within the meaning
of Section 11(f) of the Act) shall be entitled to contribution from any
person who was not guilty of such fraudulent misrepresentation.  For purposes of this Section 9,
(A) each person, if any, who controls any Initial Purchaser within the meaning
of Section 15 of the Act or Section 20(a) of the Exchange Act and
(B) the respective officers, directors, partners, employees,
representatives and agents of such Initial Purchaser or any controlling person
shall have the same rights to contribution as such Initial Purchaser, and
(A) each person, if any, who controls the Company or any Guarantor within
the meaning of Section 15 of the Act or Section 20(a) of the Exchange
Act and (B) the respective officers, directors, partners, employees,
representatives and agents of the Company and the Guarantor shall have the same
rights to contribution as the Company and the Guarantor, subject in each case
to clauses (i) and (ii) of this Section 9.  Any party entitled to contribution will, promptly after receipt
of notice of commencement of any action, suit or proceeding against such party
in respect of which a claim for contribution may be made against another party
or parties under this Section 9, notify such party or parties from whom
contribution may be sought, but the failure to so notify such party or parties
shall not relieve the party or parties from whom contribution may be sought
from any obligation it or they may have under this Section 9 or
otherwise.  No party shall be liable for
contribution with respect to any action or claim settled without its prior
written consent; provided that such written consent was not unreasonably
withheld.  The Initial Purchasers’ obligations to contribute pursuant
to this Section 9 are several in proportion to the respective principal
amount of Initial Notes purchased by each of the Initial Purchasers hereunder
and not joint.

 

10.                                 Conditions
of Initial Purchasers’ Obligations. 
The obligations of the Initial Purchasers to purchase and pay for the
Initial Notes, as provided herein, are subject to the absence from any
certificates, opinions, written statements or letters furnished to the Initial
Purchasers pursuant to this Section 10 of any misstatement or omissions
and to the satisfaction of the following additional conditions unless waived in
writing by the Initial Purchasers:

 

(a)                                  All
of the representations and warranties of the Company and the Guarantor
contained in this Agreement shall be true and correct on the date hereof and on
the Closing Date with the same force and effect as if made on and as of the
date hereof and the Closing Date, respectively.  The Company and the Guarantor shall have performed or complied

 

28

 

with all of the
agreements and satisfied all conditions on their respective parts to be
performed or complied with or satisfied hereunder on or prior to the Closing
Date.

 

(b)                                 The
Offering Memorandum shall have been printed and copies distributed to the
Initial Purchasers not later than 10:00 a.m., New York City time, on the day
following the date of this Agreement or at such later date and time as to which
the Initial Purchasers may agree, and no stop order or order suspending the
qualification or exemption from qualification of the Initial Notes or the
Guarantees thereof in any jurisdiction referred to in Section 6(e) shall
have been issued, and no proceeding for that purpose shall have been commenced
or shall be pending or threatened.

 

(c)                                  None
of the issuance and sale of the Securities pursuant to this Agreement or any of
the transactions contemplated by any of the other Offering Documents shall be
enjoined (temporarily or permanently) and no restraining order or other
injunctive order shall have been issued; and there shall not have been any
action, and there shall not have been any law, rule, regulation, ordinance,
directive, judgment, decree or order enacted, adopted, issued or threatened
against the Company, its subsidiary or the Guarantor, or against the Initial
Purchasers relating to the issuance of the Securities or the Initial
Purchasers’ activities in connection therewith or any other transactions
contemplated by this Agreement or the Offering Memorandum, or the other
Offering Documents.  No action, suit or
proceeding shall have been commenced and be pending against or directly
affecting or, to the best knowledge of the Company and the Guarantor,
threatened against, the Company, its subsidiary or the Guarantor before any
court or arbitrator or any regulatory, administrative or any governmental body
or agency, foreign or domestic, (including, without limitation, the FCC) that,
if adversely determined, could, individually or in the aggregate, reasonably be
expected to result in a Material Adverse Effect; and no stop order shall have
been issued preventing the use of the Offering Memorandum, or any amendment or
supplement thereto.

 

(d)                                 Subsequent
to the date of this Agreement and since the date of the most recent financial
statements in the Offering Memorandum (exclusive of any amendment or supplement
thereto after the date hereof), (i) there shall not have occurred any
change, or any development involving a prospective change, in or affecting the
general affairs, management, business, condition (financial or other),
properties, prospects, results of operations, capital stock, or long-term debt,
or a material increase in the short-term debt, of the Company, its subsidiary
or the Guarantor, not contemplated by the Offering Memorandum that is, in the
judgment of the Initial Purchasers, so material and adverse as to make it
impracticable or inadvisable to proceed with the offering of the Securities on
the terms and in the manner contemplated by the Offering Documents,
(ii) no dividend or distribution of any kind shall have been declared,
paid or made by the Company, its subsidiary or the Guarantor on any class of
its capital stock, (iii) neither the Company, its subsidiary or the
Guarantor shall have incurred any liability or obligation, direct or
contingent, that is material, individually or in the aggregate, to the Company,
its subsidiary or the Guarantor, taken as a whole, and that is required to be
disclosed on a balance sheet or notes thereto in accordance with generally
accepted accounting principles and is not disclosed on the latest balance sheet
or notes thereto included in the Offering Memorandum, and (iv) there shall
not have occurred any event or development relating to or involving the
Company, its subsidiary or the Guarantor, or any of their respective officers
or directors that makes any statement made in the Offering Memorandum untrue or
that, in the opinion of the Company, the Guarantor and their

 

29

 

counsel or the Initial
Purchasers and its counsel, require the making of any addition to or change in
the Offering Memorandum in order to state a material fact required by any
applicable law, rule or regulation to be stated therein or necessary in order
to make the statements made therein, in the light of the circumstances under
which it was made, not misleading.

 

(e)                                  At
the Closing Date and after giving effect to the consummation of the
transactions contemplated by the Offering Memorandum and the Offering
Documents, there exists no Default or Event of Default (as defined in the
Indenture).

 

(f)                                    The
Initial Purchasers shall have received certificates, dated the Closing Date,
signed by the chief executive officer and the chief financial officer of each
of the Company and the Guarantor (in their respective capacities as such), in
form and substance satisfactory to the Initial Purchasers, confirming, as of
the Closing Date, the matters set forth in paragraphs (a), (b), (c), (d) and
(e) of this Section 10 and that, as of the Closing Date, the obligations
of the Company and the Guarantor, as the case may be, to be performed hereunder
on or prior thereto have been duly performed.

 

(g)                                 The
Initial Purchasers shall have received on the Closing Date a corporate and
regulatory opinion, dated the Closing Date, in form and substance satisfactory
to the Initial Purchasers and Latham & Watkins LLP, counsel for the Initial
Purchasers, of Greenberg Traurig P.A. counsel for the Company and the
Guarantor, to the effect set forth in Exhibit A hereto.

 

(h)                                 At
the time Guarantor’s audit has been completed by PricewaterhouseCoopers LLP and
at the Closing Date, the Initial Purchasers shall have received from
PricewaterhouseCoopers LLP, independent public accountants for the Company and
the Guarantor, dated as of the date of such completion and as of the Closing
Date, customary “comfort” letters addressed to the Initial Purchasers and in
form and substance satisfactory to the Initial Purchasers and Latham &
Watkins LLP, counsel for the Initial Purchasers, with respect to the financial
statements and certain financial information of the Company, its subsidiary and
the Guarantor contained in the Offering Memorandum.

 

(i)                                     The
Initial Purchasers shall have received an opinion, dated the Closing Date, in
form and substance reasonably satisfactory to the Initial Purchasers, of Latham
& Watkins LLP, counsel for the Initial Purchasers, relating to this
Agreement and such other related matters as the Initial Purchasers may require.

 

(j)                                     Latham
& Watkins LLP, counsel to the Initial Purchasers, shall have been furnished
with such documents, in addition to those set forth above, as they may
reasonably require for the purpose of enabling them to review or pass upon the
matters referred to in this Section 10 and in order to evidence the
accuracy, completeness or satisfaction in all material respects of any of the
representations, warranties or conditions herein contained.

 

(k)                                  The
Company and the Guarantor shall have furnished or caused to be furnished to the
Initial Purchasers such further information, certificates and documents as the
Initial Purchasers may have reasonably requested.

 

(l)                                     The
Company, the Guarantor and the Trustee shall have entered into the Indenture,
and the Initial Purchasers shall have received counterparts, conformed as
executed,

 

30

 

thereof, and the Initial
Notes and the Guarantees thereof shall have been duly executed and delivered by
the Company and the Guarantor, and the Initial Notes shall have been duly
authenticated by the Trustee.

 

(m)                               The
Company, the Guarantor and the Initial Purchasers shall have entered into the
Registration Rights Agreement, and the Initial Purchasers shall have received
counterparts, conformed as executed, thereof, and such agreement shall be in
full force and effect.

 

(n)                                 At
the time the Guarantor’s audit has been completed by PricewaterhouseCoopers
LLP, the Initial Purchasers shall have received a certificate, substantially in
the form of Exhibit B hereto, dated the date of the Offering Memorandum,
of the Chief Financial Officer of the Company.

 

(o)                                 On
or after the date hereof, (i) there shall not have occurred any
downgrading, suspension or withdrawal of, nor shall there have been any
announcement of any potential or intended downgrading, suspension or withdrawal
of, or of any review (or of any potential or intended review) for a possible
downgrading, or with negative implications, or direction not determined of, any
rating of the Company or the Guarantor or any securities of the Company or the
Guarantor (including, without limitation, the placing of any of the foregoing
ratings on credit watch with negative or developing implications or under
review with an uncertain direction) by any “nationally recognized statistical
rating organization” as such term is defined for purposes of Rule 436(g)(2)
under the Act, (ii) there shall not have occurred any change, nor shall
any notice have been given of any potential or intended change, in the outlook
for any rating of the Company or the Guarantor or any securities of the Company
or the Guarantor by any such rating organization, and (iii) no such rating
organization shall have given notice that it has assigned (or is considering
assigning) a lower rating to the Notes than that on which the Notes were
marketed.

 

(p)                                 The
Notes shall have been approved for trading on PORTAL.

 

(q)                                 Each
of the Offering Documents and each other agreement or instrument executed in
connection with the transactions contemplated thereby shall be reasonably
satisfactory in form and substance to the Initial Purchasers and shall have
been executed and delivered by all the respective parties thereto and shall be
in full force and effect.

 

(r)                                    All
opinions, certificates, letters, schedules, documents or instruments required
by this Section 10 to be delivered by the Company and the Guarantor will
be in compliance with the provisions hereof only if they are reasonably
satisfactory in form and substance to the Initial Purchasers and counsel to the
Initial Purchasers.  The Company and the
Guarantor shall furnish the Initial Purchasers such conformed copies of such
opinions, certificates, letters, schedules, documents and instruments in such
quantities as the Initial Purchasers shall reasonably request.

 

(s)                                  On
or prior to the Closing Date, or in the case of clauses (i)(A) and (iii) below,
simultaneously with the closing of the Offering, the Company shall (i) either
(A) use a portion of the net proceeds from the sale of the Initial Notes to
repay the Credit Agreement as described in the Offering Memorandum under the
caption “Use of Proceeds” or (B) have obtained

 

31

 

a waiver or consent, in
form and substance reasonably satisfactory to the Initial Purchasers, from the
requisite lenders under the Credit Agreement permitting the Offering; (ii) have
delivered to the holders of the Company’s existing 14% Series B Senior Discount
Notes due 2008 irrevocable notice of redemption of such notes in accordance
with the terms of the note purchase agreement governing such notes; (iii) use a
portion of the net proceeds from the sale of the Initial Notes to repurchase
the Company’s 14% Senior Discount Notes due 2010 from Bear, Stearns & Co.
Inc. as described in the Offering Memorandum under the caption “Use of
Proceeds”; and (iv) provide evidence to the Initial Purchasers reasonably
satisfactory to the Initial Purchasers that the Company has completed the
actions described in clauses (i), (ii) and (iii) hereof.

 

11.                                 Initial
Purchasers’ Information.  The
Company and the Guarantor acknowledge that the statements with respect to the
offering of the Initial Notes set forth in the first sentence of the fourth
paragraph, the fifth sentence of the seventh paragraph and the eighth paragraph
under the heading “Plan of Distribution” in the Offering Memorandum constitute
the only written information relating to any of the Initial Purchasers
furnished to the Company and the Guarantor by or on behalf of the Initial
Purchasers expressly for use in the Offering Memorandum, for purposes of
Sections 2(a), 8(a) and 8(b) hereof.

 

12.                                 Offering
of Securities; Restrictions on Transfer. 
Each Initial Purchaser agrees with the Company and each Guarantor as to
itself only that (i) it has not and will not solicit offers for, or offer
or sell, the Securities by any form of general solicitation or general advertising
(as those terms are used in Regulation D under the Act) or in any manner
involving a public offering within the meaning of Section 4(2) of the Act;
and (ii) it has and will solicit offers for the Securities only from, and
will offer the Securities only to, persons within the United States whom such
Initial Purchaser reasonably believes to be QIBs or, if any such person is
buying for one or more institutional accounts for which such person is acting
as fiduciary or agent, only when such person has represented to such Initial
Purchaser that each such account is a QIB, to whom notice has been given that
such sale or delivery is being made in reliance on Rule 144A and, in each case,
in transactions under Rule 144A.

 

13.                                 Survival
of Representations and Agreements. 
The respective representations, warranties, covenants, agreements
indemnities and other statements of the Company and the Guarantor, their
respective officers and the Initial Purchasers set forth in this Agreement or
made by or on behalf of them, respectively pursuant to this Agreement shall
remain operative and in full force and effect regardless of (i) any
investigation made by or on behalf of the Company, the Guarantor, any of their
respective officers of directors, the Initial Purchasers or any controlling
person thereof referred to in Sections 8 and 9 hereof, and (ii) delivery
of and payment for the Initial Notes to and by the Initial Purchasers, and
shall be binding upon and shall inure to the benefit of, any successors,
assigns, heirs, personal representatives of the Company, the Guarantor, the
Initial Purchasers and the indemnified parties referred to in Section 8
hereof.  The respective representations,
covenants, agreements, indemnities and other statements set forth in Sections
7, 8, 9, 13 and 14 shall survive the termination of this Agreement.

 

14.                                 Effective
Date of Agreement; Termination.

 

(a)                                  This
Agreement shall become effective upon execution and delivery of a counterpart
hereof by each of the parties hereto.

 

32

 

(b)                                 This
Agreement may be terminated in the sole discretion of the Initial Purchasers by
notice to the Company from the Initial Purchasers, without liability (other
than with respect to Sections 8 and 9) on the Initial Purchasers’ part to the
Company or the Guarantor in the event that the Company or the Guarantor has
failed, refused or been unable to perform or satisfy all conditions on their
respective parts to be performed or satisfied hereunder on or prior to the
Closing Date, any other condition to the obligations of the Initial Purchasers
hereunder as provided in Section 10 is not fulfilled when and as required,
or if:

 

(i)                                     in
the reasonable judgment of the Initial Purchasers, any material adverse change
has occurred since the respective dates as of which information is given in the
Offering Memorandum (or, if the Offering Memorandum is not in existence, the
most recent Preliminary Offering Memorandum) in the condition (financial or
otherwise), business, properties, assets, liabilities, prospects, net worth,
results of operations or cash flows of the Company, its subsidiary and the
Guarantor, taken as a whole, other than as set forth in the Offering
Memorandum;

 

(ii)                                  any
domestic or international event or act or occurrence has materially disrupted,
or in the opinion of the Initial Purchasers will in the immediate future
materially disrupt, the market for the Company’s or the Guarantor’s securities
or for securities in general;

 

(iii)                               trading in securities
generally on the New York Stock Exchange, or the Nasdaq National Market, has
been suspended or made subject to material limitations, or minimum or maximum
prices for trading has been fixed, or maximum ranges for prices for securities
has been required, on the New York Stock Exchange or the Nasdaq National
Market, or by order of the Commission or other regulatory body or governmental
authority having jurisdiction;

 

(iv)                              a
banking moratorium has been declared by any federal or state authority, a
moratorium in foreign exchange trading by major international banks or persons
has been declared, or if any material disruption in commercial banking or
securities settlement or clearance services has occurred; or

 

(v)                                 (A) there
has occurred any outbreak or escalation of hostilities or acts of terrorism
involving the United States on or after the date hereof, or there is a
declaration of a national emergency or war by the United States, or
(B) there has been any other calamity or crisis or any change in
political, financial or economic conditions if the effect of any such event in
(A) or (B), in the Initial Purchasers’ judgment, makes it inadvisable or
impracticable to proceed with the offering, sale and delivery of the
Securities, on the terms and in the manner contemplated hereby and in the Offering
Memorandum; or

 

(vi)                              any
debt securities of the Company or any Guarantor has been downgraded or placed
on any “watch list” for possible downgrading by any “nationally recognized
statistical rating organization” as defined for purposes of Rule 436(g) under
the Act.

 

33

 

(c)                                  Any
notice of termination pursuant to this Section 14 shall be by telephone or
facsimile and, in either case, confirmed in writing by letter.

 

(d)                                 If
this Agreement is terminated pursuant to any of the provisions hereof, or if
the sale of the Initial Notes provided for herein is not consummated because
any condition to the obligations of the Initial Purchasers set forth herein is
not satisfied or because of any refusal, inability or failure on the part of
the Company or the Guarantor to perform any agreement herein or comply with any
provision hereof, the Company and the Guarantor shall, subject to written
demand by the Initial Purchasers, reimburse the Initial Purchasers for all out-of-pocket
expenses (including the fees and expenses of the Initial Purchasers’ counsel),
incurred by the Initial Purchasers in connection herewith.

 

(e)                                  If
on the Closing Date any one or more of the Initial Purchasers fails or refuses
to purchase the Initial Notes which it or they have agreed to purchase
hereunder on such date and the aggregate principal amount of the Initial Notes
that such defaulting Initial Purchaser or Initial Purchasers, as the case may
be, agreed but failed or refused to purchase is not more than one-tenth of the
aggregate principal amount of the Initial Notes to be purchased on such date by
all Initial Purchasers, each non-defaulting Initial Purchaser shall be
obligated severally, in the proportion that the principal amount of the Initial
Notes set forth opposite its name in Schedule I bears to the
aggregate principal amount of the Initial Notes that all the non-defaulting
Initial Purchasers, as the case may be, have agreed to purchase, or in such
other proportion as Bear, Stearns & Co. Inc. (“Bear Stearns”) may specify, to purchase the
Initial Notes which such defaulting Initial Purchaser or Initial Purchasers, as
the case may be, agreed but failed or refused to purchase on such date; provided
that in no event shall the aggregate principal amount of the Initial Notes that
any Initial Purchaser has agreed to purchase pursuant to Section 4 hereof
be increased pursuant to this Section 14 by an amount in excess of
one-ninth of such principal amount of the Initial Notes without the written consent
of such Initial Purchaser.  If on the
Closing Date any Initial Purchaser or Initial Purchasers fails or refuses to
purchase the Initial Notes and the aggregate principal amount of the Initial
Notes with respect to which such default occurs is more than one-tenth of the
aggregate principal amount of the Initial Notes to be purchased by all Initial
Purchasers and arrangements satisfactory to the Initial Purchasers and the
Company for purchase of such the Initial Notes are not made within 48 hours
after such default, this Agreement will terminate without liability on the part
of any non-defaulting Initial Purchaser and the Company.  In any such case that does not result in
termination of this Agreement, either Bear Stearns or the Company shall have
the right to postpone the Closing Date, but in no event for longer than seven
days, in order that the required changes, if any, in the Offering Memorandum or
any other documents or arrangements may be effected.  Any action taken under this paragraph shall not relieve any
defaulting Initial Purchaser from liability in respect of any default of any
such Initial Purchaser under this Agreement.

 

15.                                 Notices.  All communications hereunder shall be in
writing and, if sent to any Initial Purchaser, shall be hand-delivered,
couriered by next-day air courier or faxed and confirmed in writing to such
Initial Purchaser at Bear, Stearns & Co. Inc., 383 Madison Avenue, New
York, NY 10179, Attention: Lawrence B. Alletto, Debt Capital Markets, and with
a copy to Latham & Watkins LLP, 885 Third Avenue, Suite 1000, New York, New
York 10022, Attention: Ian Blumenstein, Esq. 
If sent to the Company or the Guarantor, shall be hand-delivered,
couriered by next-day air courier or faxed and confirmed in writing to
UbiquiTel Operating 

 

34

 

Company, One West Elm
Street, Suite 400, Conshohocken, Pennsylvania 19428 Attention:  Patricia E. Knese, Vice President and
General Counsel, and with a copy to Greenberg Traurig, LLP, 1221 Brickell
Avenue, Miami, Florida 33131 Attention: Andrew E. Balog, Esq.

 

16.                                 Successors.  This Agreement shall inure to the benefit
of, and shall be binding upon, the Initial Purchasers, the Company, the
Guarantor and their respective successors, legal representatives and assigns,
and nothing expressed or mentioned in this Agreement is intended or shall be
construed to give any other person any legal or equitable right, remedy or
claim under or in respect of, or by virtue of, this Agreement or any provision
herein contained; this Agreement and all conditions and provisions hereof being
intended to be and being for the sole and exclusive benefit of such persons and
for the benefit of no other person except that (i) the indemnities of the
Company and the Guarantor contained in Section 8 of this Agreement shall
also be for the benefit of their respective controlling persons and officers,
directors, partners, employees, representatives and agents referred to in
Sections 8 and 9, and (ii) the indemnities of the Initial Purchasers
contained in Section 8 of this Agreement shall also be for the benefit of
their respective controlling persons and officers, directors, partners,
employees, representatives and agents referred to in Sections 8 and 9.  No purchaser of Initial Notes from the
Initial Purchasers will be deemed a successor, legal representative or assign
because of such purchase.

 

17.                                 No
Waiver; Modifications in Writing. 
No failure or delay on the part of the Company, the Guarantor or the
Initial Purchasers in exercising any right, power or remedy hereunder shall
operate as a waiver thereof, nor shall any single or partial exercise of any
such right, power or remedy preclude any other or further exercise thereof or
the exercise of any other right, power or remedy.  The remedies provided for herein are cumulative and are not
exclusive of any remedies that may be available to the Company, the Guarantor
or the Initial Purchasers at law or in equity or otherwise.  No waiver of or consent to any departure by
the Company, the Guarantor or the Initial Purchasers from any provision of this
Agreement shall be effective unless signed in writing by the party entitled to
the benefit thereof; provided
that notice of any such waiver shall be given to each party hereto as set forth
above.  Except as otherwise provided
herein, no amendment, modification or termination of any provision of this
Agreement shall be effective unless signed in writing by or on behalf of the
Company, the Guarantor and the Initial Purchasers.  Any amendment, supplement or modification of or to any provision
of this Agreement, any waiver of any provision of this Agreement, and any
consent to any departure by the Company, the Guarantor or the Initial
Purchasers from the terms of any provision of this Agreement shall be effective
only in the specific instance and for the specific purpose for which made or
given.  Except where notice is
specifically required by this Agreement, no notice to or demand on the Company
or the Guarantor in any case shall entitle the Company or the Guarantor to any
other or further notice or demand in similar or other circumstances.

 

18.                                 Entire
Agreement.  This Agreement
constitutes the entire agreement among the parties hereto and supersedes all
prior agreements, understandings and arrangements, oral or written, among the
parties hereto with respect to the subject matter hereof.

 

19.                                 Applicable
Law.  THE VALIDITY AND
INTERPRETATION OF THIS AGREEMENT, AND THE TERMS AND CONDITIONS SET FORTH HEREIN
SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE
STATE OF NEW YORK.  TIME IS OF THE
ESSENCE IN THIS AGREEMENT.

 

35

 

20.                                 Captions.  The captions included in this Agreement are
included solely for convenience of reference and are not to be considered a
part of this Agreement.

 

21.                                 Counterparts.  This Agreement may be executed in various
counterparts, which together shall constitute one and the same instrument.

 

[Signature
Page Follows]

 

36

 

If the foregoing
correctly sets forth the understanding among the Initial Purchasers, the
Company and the Guarantor, please so indicate in the space provided below for
that purpose, whereupon this letter shall constitute a binding agreement among
us.

 

	
   

  	
  Very truly
  yours,

  
	
   

  	
   

  
	
   

  	
  UBIQUITEL
  OPERATING COMPANY

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name: Donald A. Harris

  
	
   

  	
  Title: President and Chief Executive Officer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  UBIQUITEL INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name: Donald A. Harris

  
	
   

  	
  Title: President and Chief Executive Officer

  

 

 

Accepted and agreed to as
of

the date first above written:

 

	
  BEAR, STEARNS & CO.
  INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  CITIGROUP GLOBAL
  MARKETS INC.

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  	
   

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  BANC OF AMERICA
  SECURITIES LLC

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
				

 

 

SCHEDULE I

 

 

	
  Initial Purchaser

  	
   

  	
  Principal
  Amount

  of Notes

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Bear,
  Stearns & Co. Inc.

  	
   

  	
  $

  	
  175,500,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Citigroup
  Global Markets Inc.

  	
   

  	
  67,500,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Banc
  of America Securities LLC

  	
   

  	
  27,000,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Total

  	
   

  	
  $

  	
  270,000,000

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00065-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00065-of-00352.parquet"}]]