Document:

Waiver Reg Rights - BTIP 8-15-2003

Exhibit 4.13

[eCollege Letterhead] 

August 15, 2003 

 

Oakleigh Thorne 

Blumenstein/Thorne Information Partners I, L.P. 

PO Box 871 

Lake Forest, IL 60045 

Re: eCollege.com Registration Agreement 

 

Dear Mr. Thorne: 

 

Reference is made to that certain Stock Purchase Agreements dated as of August 13, 2003 (the " Stock Purchase Agreements "), among eCollege.com, a Delaware corporation (the " Company "), and the investors listed therein (the " New Investors "), pursuant to which the Company has agreed to sell, and the New Investors have agreed to buy approximately, 2,900,000 shares of the Company’s common stock, par value $0.01 per share (the " Common Stock "). Under the terms of the Stock Purchase Agreements, the Company has also agreed to register the Common Stock sold to the New Investors under the Securities Act of 1933, as amended (the " Securities Act "), by filing a Form S-3 Registration Statement (the " Form S-3 ") with the Securities and Exchange Commission. 

 

The Company respectfully requests that Blumenstein/Thorne Information Partners I, L.P. (the " Investor "), in exchange for the extension of the term of the Registration Agreement (as defined below) as described below, hereby: (i) waives its piggyback registration rights granted under Section 2.A. of that certain Registration Agreement dated September, 2000 (the " Registration Agreement "), between the Company and the Investor, with respect to the filing of the Form S-3 and any amendments thereto; and (ii) waives the Company’s obligation to comply with Section 8.A. of the Registration Agreement to the extent that the registration rights granted under the Stock Purchase Agreements violate Section 8.A. of the Registration Agreement. 

 

In exchange for the Investor’s waiver of the matters referenced above, the Company hereby agrees to amend the Registration Agreement to extend the term thereof until September 1, 2005. The amendment to the Registration Agreement shall be effective upon the Investor’s acceptance of this Letter Agreement. Except as shall be explicitly amended by Investor’s acceptance of this Letter Agreement, all of the terms and conditions of the Registration Agreement shall remain in full force and effect. 

 

To acknowledge the Investor’s waiver of the matters referenced above, please sign both of the copies provided, retaining one copy for the Investor’s files and returning the other executed copy to the Company. 

 

This Letter Agreement shall be governed by, and construed in accordance with, the internal laws of the State of New York, without giving effect to the principles of conflicts of law. 

	

 

	 	 	 
	

	

This Letter Agreement may be executed in one or more counterparts, all of which shall be considered one and the same agreement and shall become effective when one or more counterparts have been signed by each of the parties and delivered to the other party, it being understood that both parties need not sign the same counterpart. 

Sincerely, 

ECOLLEGE.COM 

By:_ /s/ Doug Kelsall  EVP                             

Doug Kelsall, Executive Vice President 

ACCEPTED and AGREED TO this 15th 

day of August, 2003, by: 

BLUMENSTEIN/THORNE INFORMATION 

PARTNERS I, L.P. 

By:  Blumenstein/Thorne Information Partners, LLC,
  as General Partner

 

By:    /s/ Oakleigh Thorne                         

Name: Oakleigh Thorne 

Title: Co-President 

	
 

[Signature page to Letter Agreement]Waiver Reg Rights BTIP NWE 9-2-2003

Exhibit 4.14

 

[eCollege Letterhead] 

 

September 2, 2003 

 

Oakleigh Thorne
Blumenstein/Thorne Information Partners I, L.P.
PO Box 871
Lake Forest, IL 60045

Christopher E. Girgenti 

Senior Managing Director 

New World Equities, Inc. 

1603 Orrington Avenue, Suite 1070 

Evanston, Illinois 60201 

Re:  Waiver of Piggyback Registration, Consent, Notice and Other Rights under Amended and Restated Registration Agreement 

 

Dear Messrs. Thorne and Girgenti: 

 

Reference is made to those certain Stock Purchase Agreements dated as of August 13, 2003 (the " Stock Purchase Agreements "), among eCollege.com, a Delaware corporation (the " Company "), and the investors party thereto (the " New Investors "), pursuant to which the Company agreed to sell, and the New Investors agreed to buy approximately, 2,900,000 shares of the Company’s common stock, par value $0.01 per share (the " Common Stock "). Under the terms of the Stock Purchase Agreements, the Company has also agreed to register the Common Stock sold to the New Investors under the Securities Act of 1933, as amended, by filing a Form S-3 Registration Statement (the " Form S-3 ") with the Securities and Exchange Commission. 

Blumenstein/Thorne Information Partners I, L.P. and New World Equities, Inc. (the " Investors ") are parties to that certain Amended and Restated Registration Agreement dated February 2, 1998, (the " Registration Agreement "), between the Company, the Investors and other stockholders of the Company (collectively, with the Investors, the " Stockholders "). 

Pursuant to Section 9.D of the Registration Agreement, the Company respectfully requests that the Investors, as holders of greater than two-thirds of the Registrable Securities (as defined in the Registration Agreement) of the Company: (i) waive any piggyback registration rights granted to Stockholders under Section 3 of the Registration Agreement with respect to the filing of the Form S-3 and any amendments thereto; and (ii) waive any failure by the Company to comply with its obligations set forth in Sections 2.E and 9.A of the Registration Agreement to the extent that the Stock Purchase Agreements or the registration rights granted thereunder violate Sections 2.E or 9.A of the Registration Agreement. 

The waivers to the Registration Agreement referenced above shall be effective as to all Stockholders upon the Investors’ acceptance of this Letter Agreement. Except as shall be explicitly amended by Investors’ acceptance of this Letter Agreement, all of the terms and conditions of the Registration Agreement shall remain in full force and effect. 

To acknowledge the Investors’ waivers of the matters referenced above, please sign each of the copies provided. Upon execution and delivery of the Letter Agreement by both Investors, the Company will return a fully executed version to you at the addresses above. 

This Letter Agreement shall be governed by, and construed in accordance with, the internal laws of the State of Colorado, without giving effect to the principles of conflicts of law. 

 

	
 

	 	 	 
	

	

This Letter Agreement may be executed in one or more counterparts, all of which shall be considered one and the same agreement and shall become effective when one or more counterparts have been signed by each of the Investors and delivered to the Company, it being understood that both Investors need not sign the same counterpart. 

Sincerely, 

ECOLLEGE.COM 

By:        /s/ Doug Kelsall EVP                     

Doug Kelsall, 

Executive Vice President 

ACCEPTED and AGREED TO this 2nd 

day of September, 2003, by: 

BLUMENSTEIN/THORNE INFORMATION 

PARTNERS I, L.P. 

By: Blumenstein/Thorne Information Partners, LLC, 

      as General Partner 

By:    /s/ Oakleigh Thorne                   

Name: Oakleigh Thorne 

Title: Co-President 

NEW WORLD EQUITIES, INC. 

By: /s/ Christopher E. Girgenti                

Name: Christopher E. Girgenti 

Title: Senior Managing Director 

	
[Signature page to Letter Agreement]Waiver Reg Rights BTIP 10-28-2003

Exhibit 4.15

 

[eCollege Letterhead] 

 

October 28, 2003 

 

Oakleigh Thorne
Blumenstein/Thorne Information Partners I, L.P.
PO Box 871
Lake Forest, IL 60045

Re: eCollege.com Registration Agreement 

 

Dear Mr. Thorne: 

 

Reference is made to that certain Stock Purchase Agreement dated as of September 15, 2003 (the " Stock Purchase Agreement "), among eCollege.com, a Delaware corporation (the " Company "), and Leeds Equity Partners III, L.P., a Delaware limited partnership (the " Principal Seller "), other selling parties, (collectively with Principal Seller, the " Sellers "), and DataMark Inc., a Delaware corporation (" DataMark "), pursuant to which the Company has agreed to purchase all of the capital stock of DataMark. As partial consideration for the purchase, the Company is issuing 225,000 shares of the Company’s common stock, par value $0.01 per share (the " Purchase Shares "). 

Reference is also made to that certain Senior Subordinated Secured Note and Warrant Purchase Agreement (the " Warrant Agreement "), to be dated as of October 31, 2003, between the Company and Capital Resource Partners IV, L.P. (" CRP "), a Delaware limited partnership, and each of those persons who shall join in and become a party thereto, pursuant to which the Company shall issue warrants to acquire up to 200,000 shares of the Company’s common stock, par value $0.01 per share (the " Warrant Shares ," collectively with the Purchase Shares, the " Common Stock "). 

Under the terms of the Stock Purchase Agreement, the Warrant Agreement and registration rights agreements to be entered into in connection with the Stock Purchase Agreement and the Warrant Agreement (the " Registration Rights Agreements "), the Company has also agreed to register the Common Stock issued to CRP, the Sellers and certain officers and directors of DataMark under the Securities Act of 1933, as amended, by filing a Form S-3 Registration Statement (the " Form S-3 ") with the Securities and Exchange Commission. 

The Company respectfully requests that Blumenstein/Thorne Information Partners I, L.P. (the " Investor ") hereby: (i) waives its piggyback registration rights granted under Section 2.A. of that certain Registration Agreement dated September, 2000 (the " Registration Agreement "), between the Company and the Investor, with respect to the filing of the Form S-3 and any amendments thereto; and (ii) waives the Company’s obligation to comply with Section 8.A. of the Registration Agreement to the extent that the registration rights granted under the Stock Purchase Agreement, the Warrant Agreement or the Registration Rights Agreements violate Section 8.A. of the Registration Agreement. 

To acknowledge the Investor’s waiver of the matters referenced above, please sign both of the copies provided, retaining one copy for the Investor’s files and returning the other executed copy to the Company. 

This Letter Agreement shall be governed by, and construed in accordance with, the internal laws of the State of Colorado, without giving effect to the principles of conflicts of law. 

This Letter Agreement may be executed in one or more counterparts, all of which shall be considered one and the same agreement and shall become effective when one or more counterparts have been signed by each of the parties and delivered to the other party, it being understood that both parties need not sign the same counterpart. 

Sincerely, 

ECOLLEGE.COM 

By:     /s/ Doug Kelsall                                               

Doug Kelsall, Executive Vice President 

ACCEPTED and AGREED TO this 28th 

day of October, 2003, by: 

BLUMENSTEIN/THORNE INFORMATION 

PARTNERS I, L.P. 

By:  Blumenstein/Thorne Information Partners, LLC, 

 as General Partner 

By:    /s/ Oakleigh Thorne                              

Name: Oakleigh Thorne
Title: Co-President

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