Document:

exv10w2

Exhibit 10.2

 

REGISTRATION RIGHTS AGREEMENT

by and among

METROPCS WIRELESS, INC.

THE GUARANTORS PARTY HERETO

and

J.P. MORGAN SECURITIES INC.

BANC OF AMERICA SECURITIES LLC

HSBC SECURITIES (USA) INC.

January 20, 2009

 

 

 

          This Registration Rights Agreement (this “Agreement”) is made and entered into as of
January 20, 2009 by and among MetroPCS Wireless, Inc., a Delaware corporation (the
“Company”), and each of the guarantors listed on Schedule I hereto (the
“Guarantors”) and J.P. Morgan Securities Inc., Banc of America Securities LLC and HSBC
Securities (USA) Inc. (the “Initial Purchasers”). The Initial Purchasers have, jointly and
not severally, agreed to purchase the Company’s 91/4% Senior Notes due 2014 (the “Notes”)
pursuant to the Purchase Agreement (as defined below).

          This Agreement is made pursuant to the Purchase Agreement, dated January 14, 2009, (the
“Purchase Agreement”), by and among the Company, the Guarantors, and the Initial
Purchasers. In order to induce the Initial Purchasers to purchase the Notes, the Company and the
Guarantors have agreed to provide the registration rights set forth in this Agreement. The
execution and delivery of this Agreement is a condition to the obligations of the Initial
Purchasers set forth in Section 10(j) of the Purchase Agreement. Capitalized terms used herein and
not otherwise defined shall have the meaning assigned to them in the Indenture (the
“Indenture”), dated January 20, 2009, among the Company, the Guarantors and The Bank of New
York Mellon Trust Company, N.A., as Trustee, relating to the Notes and the Exchange Notes (as
defined below).

          The parties hereby agree as follows:

SECTION 1. DEFINITIONS

          As used in this Agreement, the following capitalized terms shall have the following meanings:

          Affiliate: As defined in Rule 144 of the Securities Act.

          Broker-Dealer: Any broker or dealer registered under the Exchange Act.

          Capital Stock: As defined in the Purchase Agreement.

          Certificated Securities: Definitive Notes, as defined in the Indenture.

          Closing Date: The date hereof.

          Commission: The United States Securities and Exchange Commission.

          Consummate: An Exchange Offer shall be deemed “Consummated” for purposes of this
Agreement upon the occurrence of (a) the filing and effectiveness under the Securities Act of the
Exchange Offer Registration Statement relating to the Exchange Notes to be issued in the Exchange
Offer, (b) the maintenance of such Exchange Offer Registration Statement continuously effective and
the keeping of the Exchange Offer open for a period not less than the period required pursuant to
Section 3(b) hereof and (c) the delivery by the Company to the Registrar under the Indenture of
Exchange Notes in the same aggregate principal amount as the aggregate principal amount of Notes
tendered by Holders thereof pursuant to the Exchange Offer.

 

 

          Consummation Deadline: As defined in Section 3(b) hereof.

          Effectiveness Deadline: As defined in Sections 3(a) and 4(a) hereof.

          Exchange Act: The United States Securities Exchange Act of 1934, as amended.

          Exchange Notes: The Company’s 91/4% Senior Notes due 2014 and the related
guarantees to be issued pursuant to the Indenture: (i) in the Exchange Offer or (ii) as
contemplated by Section 4 hereof.

          Exchange Offer: The exchange and issuance by the Company of a principal amount of
Exchange Notes (which shall be registered pursuant to the Exchange Offer Registration Statement)
equal to the outstanding principal amount of Notes that are tendered by such Holders in connection
with such exchange and issuance, and evidencing the same continuing Indebtedness.

          Exchange Offer Registration Statement: The Registration Statement relating to the
Exchange Offer, including the related Prospectus.

          Exempt Resales: The transactions in which the Initial Purchasers propose to sell the
Notes to certain “qualified institutional buyers,” as such term is defined in Rule 144A under the
Securities Act and pursuant to Regulation S under the Securities Act.

          Filing Deadline: As defined in Sections 3(a) and 4(a) hereof.

          Holders: As defined in Section 2 hereof.

          Prospectus: The prospectus included in a Registration Statement at the time such
Registration Statement is declared effective, as amended or supplemented by any prospectus
supplement and by all other amendments thereto, including post-effective amendments, and all
material incorporated by reference into such Prospectus.

          Recommencement Date: As defined in Section 6(d) hereof.

          Registration Default: As defined in Section 5 hereof.

          Registration Statement: Any registration statement of the Company and the Guarantors
relating to (a) an offering of Exchange Notes pursuant to an Exchange Offer or (b) the registration
for resale of Transfer Restricted Securities pursuant to the Shelf Registration Statement, in each
case, (i) that is filed pursuant to the provisions of this Agreement and (ii) including the
Prospectus included therein, all amendments and supplements thereto (including post-effective
amendments) and all exhibits and material incorporated by reference therein.

          Regulation S: Regulation S promulgated under the Securities Act.

          Rule 144: Rule 144 promulgated under the Securities Act.

          Securities Act: The United States Securities Act of 1933, as amended.

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          Shelf Registration Statement: As defined in Section 4 hereof.

          Suspension Notice: As defined in Section 6(d) hereof.

          TIA: The Trust Indenture Act of 1939 (15 U.S.C. Section 77aaa-77bbbb) as in effect on
the date of the Indenture.

          Transfer Restricted Securities: Each (A) Note, until the earliest to occur of (i) the
date on which such Note is exchanged in the Exchange Offer for an Exchange Note which is entitled
to be resold to the public by the Holder thereof without complying with the prospectus delivery
requirements of the Securities Act, (ii) the date on which such Note has been disposed of in
accordance with a Shelf Registration Statement (and the purchasers thereof have been issued
Exchange Notes), or (iii) the date on which such Note is distributed to the public pursuant to Rule
144 under the Securities Act and each (B) Exchange Note held by a Broker Dealer until the date on
which such Exchange Note is disposed of by a Broker-Dealer pursuant to the “Plan of Distribution”
contemplated by the Exchange Offer Registration Statement (including the delivery of the Prospectus
contained therein).

SECTION 2. HOLDERS

          A Person is deemed to be a holder of Transfer Restricted Securities (each, a “Holder”)
whenever such Person owns Transfer Restricted Securities.

SECTION 3. REGISTERED EXCHANGE OFFER

          (a) Unless the Exchange Offer shall not be permitted by applicable law (after the procedures
set forth in Section 6(a)(i) below have been complied with) or Commission policy, the Company and
the Guarantors shall (i) cause the Exchange Offer Registration Statement to be filed with the
Commission on or prior to the 270th day after the issue date of the Notes (such date
being the “Filing Deadline”), (ii) use all commercially reasonable efforts to cause such
Exchange Offer Registration Statement to be declared effective by the Commission on or prior to 300
days after the issue date of the Notes (such day being the “Effectiveness Deadline”), (iii)
in connection with the foregoing, (A) file all pre-effective amendments to such Exchange Offer
Registration Statement as may be necessary in order to cause the Exchange Offer Registration
Statement to be declared effective, (B) file, if applicable, a post-effective amendment to such
Exchange Offer Registration Statement pursuant to Rule 430A under the Securities Act and (C) cause
all necessary filings, if any, in connection with the registration and qualification of the
Exchange Notes to be made under the Blue Sky laws of such jurisdictions as are necessary to permit
Consummation of the Exchange Offer, and (iv) as soon as practicable following the effectiveness of
such Exchange Offer Registration Statement, commence and Consummate the Exchange Offer. The
Exchange Offer shall be on the appropriate form permitting (i) registration of the Exchange Notes
to be offered in exchange for the Notes that are Transfer Restricted Securities and (ii) resales of
Exchange Notes by Broker-Dealers that tendered into the Exchange Offer Notes that such
Broker-Dealer acquired for its own account as a result of market making activities or other trading
activities (other than Notes acquired directly from the Company or any of its Affiliates) as
contemplated by Section 3(c) below.

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          (b) The Company and the Guarantors shall use their respective commercially reasonable efforts
to cause the Exchange Offer Registration Statement to be effective continuously, and shall keep the
Exchange Offer open for a period of not less than the minimum period required under applicable
federal and state securities laws to Consummate the Exchange Offer; provided, however, that in no
event shall such period be less than 20 business days. The Company and the Guarantors shall cause
the Exchange Offer to comply with all applicable federal and state securities laws. No securities
other than the Exchange Notes shall be included in the Exchange Offer Registration Statement. The
Company and the Guarantors shall use all commercially reasonable efforts to cause the Exchange
Offer to be Consummated on the earliest practicable date after the Exchange Offer Registration
Statement has become effective, but in no event later than 30 business days thereafter, or longer,
if required by the federal securities laws (the last day of such period being the “Consummation
Deadline”).

          (c) The Company shall include a “Plan of Distribution” section in the Prospectus contained in
the Exchange Offer Registration Statement and indicate therein that any Broker-Dealer who holds
Transfer Restricted Securities that were acquired for the account of such Broker-Dealer as a result
of market-making activities or other trading activities (other than Notes acquired directly from
the Company or any Affiliate of the Company), may exchange such Transfer Restricted Securities
pursuant to the Exchange Offer. Such “Plan of Distribution” section shall also contain all other
information with respect to such sales by such Broker-Dealers that the Commission may require in
order to permit such sales pursuant thereto, but such “Plan of Distribution” shall not name any
such Broker-Dealer or disclose the amount of Transfer Restricted Securities held by any such
Broker-Dealer, except to the extent required by the Commission as a result of a change in policy,
rules or regulations after the date of this Agreement. See the Shearman & Sterling no-action
letter (available July 2, 1993).

          Because such Broker-Dealer may be deemed to be an “underwriter” within the meaning of the
Securities Act and must, therefore, deliver a prospectus meeting the requirements of the Securities
Act in connection with its initial sale of any Exchange Notes received by such Broker-Dealer in the
Exchange Offer, the Company and the Guarantors shall permit the use of the Prospectus contained in
the Exchange Offer Registration Statement by such Broker-Dealer to satisfy such prospectus delivery
requirement. To the extent necessary to ensure that the prospectus contained in the Exchange Offer
Registration Statement is available for sales of Exchange Notes by Broker-Dealers, the Company and
the Guarantors agree to use their respective commercially reasonable efforts to keep the Exchange
Offer Registration Statement continuously effective, supplemented, amended and current as required
by and subject to the provisions of Section 6(a) and (c) hereof and in conformity with the
requirements of this Agreement, the Securities Act and the policies, rules and regulations of the
Commission as announced from time to time, for a period of 180 days from the Consummation Deadline
or such shorter period as will terminate when all Transfer Restricted Securities covered by such
Registration Statement have been sold pursuant thereto. The Company and the Guarantors shall
provide sufficient copies of the latest version of such Prospectus to such Broker-Dealers, promptly
upon request, and in no event later than two business days after such request, at any time during
such period.

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SECTION 4. SHELF REGISTRATION

          (a) Shelf Registration. If (i) the Company and the Guarantors are not (A) required to
file the Exchange Offer Registration Statement or (B) permitted to Consummate the Exchange Offer
because the Exchange Offer is not permitted by applicable law (after the Company and the Guarantors
have complied with the procedures set forth in Section 6(a)(i) below) or Commission policy or (ii)
if any Holder of Transfer Restricted Securities shall notify the Company within 20 business days
following the consummation of the Exchange Offer that (A) such Holder was prohibited by law or
Commission policy from participating in the Exchange Offer; (B) such Holder may not resell the
Exchange Notes acquired by it in the Exchange Offer to the public without delivering a prospectus
and the Prospectus contained in the Exchange Offer Registration Statement is not appropriate or
available for such resales by such Holder; or (C) such Holder is a Broker-Dealer and holds Notes
acquired directly from the Company or any of its Affiliates, then the Company and the Guarantors
shall use all commercially reasonable efforts to file with the Commission a Shelf Registration
Statement (as defined below) to cover resales of the Notes by Holders of the Notes who satisfy
certain conditions relating to the provision of information in connection with the Shelf
Registration Statement. If obligated to file a Shelf Registration Statement, the Company and the
Guarantors shall use all commercially reasonable efforts to:

     (x) file, on or prior to 30 days after the earlier of (i) the date on which the Company
determines that the Exchange Offer Registration Statement cannot be filed as a result of clause
(a)(i) above and (ii) the date on which the Company receives the notice specified in clause (a)(ii)
above, (such earlier date, the “Filing Deadline”), a shelf registration statement pursuant
to Rule 415 under the Securities Act (which may be an amendment to the Exchange Offer Registration
Statement (the “Shelf Registration Statement”)), relating to all Transfer Restricted
Securities, and

     (y) cause such Shelf Registration Statement to be declared effective by the Commission on or
prior to 180 days after the Filing Deadline for the Shelf Registration Statement (such 180th day
the “Effectiveness Deadline”).

          If, after the Company and the Guarantors have filed an Exchange Offer Registration Statement
that satisfies the requirements of Section 3(a) above, the Company and the Guarantors are required
to file and make effective a Shelf Registration Statement solely because the Exchange Offer is not
permitted under applicable federal law (i.e., clause (a)(i) above), then the filing of the Exchange
Offer Registration Statement shall be deemed to satisfy the requirements of clause (x) above;
provided that, in such event, the Company and the Guarantors shall remain obligated to meet the
Effectiveness Deadline set forth in clause (y).

          To the extent necessary to ensure that the Shelf Registration Statement is available for sales
of Transfer Restricted Securities by the Holders thereof entitled to the benefit of this Section
4(a) and the other securities required to be registered therein pursuant to Section 6(b)(ii)
hereof, the Company and the Guarantors shall use their respective commercially reasonable efforts
to keep any Shelf Registration Statement required by this Section 4(a) continuously effective,
supplemented, amended and current as required by and subject to the provisions of Sections 6(b) and
(c) hereof and in conformity with the requirements of this Agreement, the Securities Act and the
policies, rules and regulations of the Commission as announced from time

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to time, for a period of at least two years (as extended pursuant to Section 6(c)(i) hereof)
following the Closing Date, or such shorter period as will terminate at such time there are no
longer any Transfer Restricted Securities that are covered by the Shelf Registration Statement
outstanding.

          (b) Provision by Holders of Certain Information in Connection with the Shelf Registration
Statement. No Holder of Transfer Restricted Securities may include any of its Transfer
Restricted Securities in any Shelf Registration Statement pursuant to this Agreement unless and
until such Holder furnishes to the Company in writing, within 20 days after receipt of a request
therefor, the information specified in Item 507 or Item 508 of Regulation S-K, as applicable, of
the Securities Act for use in connection with any Shelf Registration Statement or Prospectus or
preliminary Prospectus included therein. No Holder of Transfer Restricted Securities shall be
entitled to liquidated damages pursuant to Section 5 hereof unless such Holder shall have provided
all such information in the required times. Each selling Holder agrees to promptly furnish
additional information required to be disclosed in order to make the information previously
furnished to the Company by such Holder not materially misleading.

SECTION 5. LIQUIDATED DAMAGES

          If (i) any Registration Statement required by this Agreement is not filed with the Commission
by the applicable Filing Deadline, (ii) any such Registration Statement has not been declared
effective by the Commission by the applicable Effectiveness Deadline, (iii) the Exchange Offer has
not been Consummated by the Consummation Deadline or (iv) any Registration Statement required by
this Agreement is filed and declared effective but shall thereafter cease to be effective or fail
to be usable for its intended purpose without being succeeded immediately by a post-effective
amendment to such Registration Statement that cures such failure and that is itself declared
effective within 5 days of filing such post-effective amendment to such Registration Statement
(each such event referred to in clauses (i) through (iv), a “Registration Default”), then
the Company and the Guarantors hereby jointly and severally agree to pay to each Holder of Transfer
Restricted Securities affected thereby liquidated damages in an amount equal to $0.05 per week per
$1,000 in principal amount of Transfer Restricted Securities held by such Holder for each week or
portion thereof that the Registration Default continues for the first 90-day period immediately
following the occurrence of such Registration Default. The amount of the liquidated damages shall
increase by an additional $0.05 per week per $1,000 in principal amount of Transfer Restricted
Securities with respect to each subsequent 90-day period until all Registration Defaults have been
cured, up to a maximum amount of liquidated damages of $0.20 per week per $1,000 in principal
amount of Transfer Restricted Securities; provided that the Company and the Guarantors shall in no
event be required to pay liquidated damages for more than one Registration Default at any given
time. Notwithstanding anything to the contrary set forth herein, (1) upon filing of the Exchange
Offer Registration Statement (and/or, if applicable, the Shelf Registration Statement), in the case
of (i) above, (2) upon the effectiveness of the Exchange Offer Registration Statement (and/or, if
applicable, the Shelf Registration Statement), in the case of (ii) above, (3) upon Consummation of
the Exchange Offer, in the case of (iii) above, or (4) upon the filing of a post-effective
amendment to the Registration Statement or an additional Registration Statement that causes the
Exchange Offer Registration Statement (and/or, if applicable, the Shelf Registration Statement) to
again be declared effective or made usable in the case of (iv) above, the liquidated damages

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payable with respect to the Transfer Restricted Securities as a result of such clause (i),
(ii), (iii) or (iv), as applicable, shall cease.

          All accrued liquidated damages shall be paid to the Holders entitled thereto, in the manner
provided for the payment of interest in the Indenture, on each Interest Payment Date, as more fully
set forth in the Indenture and the Notes. Notwithstanding the fact that any securities for which
liquidated damages are due cease to be Transfer Restricted Securities, all obligations of the
Company and the Guarantors to pay liquidated damages with respect to securities shall survive until
such time as such obligations with respect to such securities shall have been satisfied in full.
Notwithstanding anything contained herein or in the Indenture to the contrary, the payment of
liquidated damages shall be the only remedy available to holders of Notes for any Registration
Default.

SECTION 6. REGISTRATION PROCEDURES

          (a) Exchange Offer Registration Statement. In connection with the Exchange Offer, the
Company and the Guarantors shall (x) comply with all applicable provisions of Section 6(c) below,
(y) use their respective commercially reasonable efforts to effect such exchange and to permit the
resale of Exchange Notes by Broker-Dealers that tendered in the Exchange Offer Notes that such
Broker-Dealer acquired for its own account as a result of its market making activities or other
trading activities (other than Notes acquired directly from the Company or any of its Affiliates)
being sold in accordance with the intended method or methods of distribution thereof, and (z)
comply with all of the following provisions:

          (i) If, following the date hereof there has been announced a change in Commission
policy with respect to exchange offers such as the Exchange Offer, that in the reasonable
opinion of counsel to the Company raises a substantial question as to whether the Exchange
Offer is permitted by applicable federal law, the Company and the Guarantors hereby agree to
use commercially reasonable efforts to seek a no-action letter or other favorable decision
from the Commission allowing the Company and the Guarantors to Consummate an Exchange Offer
for such Transfer Restricted Securities. The Company and the Guarantors hereby agree to
pursue the issuance of such a decision to the Commission staff level. In connection with
the foregoing, the Company and the Guarantors hereby agree to take all such other
commercially reasonable actions as may be requested by the Commission or otherwise required
in connection with the issuance of such decision, including without limitation (A)
participating in telephonic conferences with the Commission, (B) delivering to the
Commission staff an analysis prepared by counsel to the Company setting forth the legal
bases, if any, upon which such counsel has concluded that such an Exchange Offer should be
permitted and (C) diligently pursuing a resolution (which need not be favorable) by the
Commission staff.

          (ii) As a condition to its participation in the Exchange Offer, each Holder of Transfer
Restricted Securities (including, without limitation, any Holder who is a Broker Dealer)
shall furnish, upon the request of the Company, prior to the Consummation of the Exchange
Offer, a written representation to the Company and the Guarantors (which may be contained in
the letter of transmittal contemplated by the Exchange Offer Registration Statement) to the
effect that (A) it is not an Affiliate of the Company, (B) it is not

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engaged in, and does not intend to engage in, and has no arrangement or understanding
with any person to participate in, a distribution of the Exchange Notes to be issued in the
Exchange Offer and (C) it is acquiring the Exchange Notes in its ordinary course of
business. As a condition to its participation in the Exchange Offer each Holder using the
Exchange Offer to participate in a distribution of the Exchange Notes shall acknowledge and
agree that, if the resales are of Exchange Notes obtained by such Holder in exchange for
Notes acquired directly from the Company or an Affiliate thereof, it (1) could not, under
Commission policy as in effect on the date of this Agreement, rely on the position of the
Commission enunciated in Morgan Stanley and Co., Inc. (available June 5, 1991) and
Exxon Capital Holdings Corporation (available May 13, 1988), as interpreted in the
Commission’s letter to Shearman & Sterling dated July 2, 1993, and similar no-action
letters (including, if applicable, any no-action letter obtained pursuant to clause (i)
above), and (2) must comply with the registration and prospectus delivery requirements of
the Securities Act in connection with a secondary resale transaction and that such a
secondary resale transaction must be covered by an effective registration statement
containing the selling security holder information required by Item 507 or 508, as
applicable, of Regulation S-K.

          (iii) Prior to effectiveness of the Exchange Offer Registration Statement, the Company
and the Guarantors shall provide a supplemental letter to the Commission (A) stating that
the Company and the Guarantors are registering the Exchange Offer in reliance on the
position of the Commission enunciated in Exxon Capital Holdings Corporation
(available May 13, 1988), Morgan Stanley and Co., Inc. (available June 5, 1991) as
interpreted in the Commission’s letter to Shearman & Sterling dated July 2, 1993,
and, if applicable, any no-action letter obtained pursuant to clause (i) above, (B)
including a representation that neither the Company nor any of the Guarantors has entered
into any arrangement or understanding with any Person to distribute the Exchange Notes to be
received in the Exchange Offer and that, to the Company’s and the Guarantors’ knowledge and
belief, each Holder participating in the Exchange Offer is acquiring the Exchange Notes in
its ordinary course of business and has no arrangement or understanding with any Person to
participate in the distribution of the Exchange Notes received in the Exchange Offer and (C)
any other commercially reasonable undertaking or representation required by the Commission
as set forth in any no-action letter obtained pursuant to clause (i) above, if applicable.

          (b) Shelf Registration Statement. In connection with the Shelf Registration Statement,
the Company and the Guarantors shall (i) comply with all the provisions of Section 6(c) below and
use their respective commercially reasonable efforts to effect such registration to permit the sale
of the Transfer Restricted Securities being sold in accordance with the intended method or methods
of distribution thereof (as indicated in the information furnished to the Company pursuant to
Section 4(b) hereof), and pursuant thereto the Company and the Guarantors will prepare and file
with the Commission a Registration Statement relating to the registration on any appropriate form
under the Securities Act, which form shall be available for the sale of the Transfer Restricted
Securities in accordance with the intended method or methods of distribution thereof within the
time periods and otherwise in accordance with the provisions hereof, and

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          (ii) issue, upon the request of any Holder or purchaser of Notes covered by any Shelf
Registration Statement contemplated by this Agreement, Exchange Notes having an aggregate
principal amount equal to the aggregate principal amount of Notes sold pursuant to the
Shelf Registration Statement and surrendered to the Company for cancellation; the Company
shall register Exchange Notes on the Shelf Registration Statement for this purpose and
issue the Exchange Notes to the purchaser(s) of securities subject to the Shelf
Registration Statement in the names as such purchaser(s) shall designate.

          (c) General Provisions. In connection with any Registration Statement and any related
Prospectus required by this Agreement, the Company and the Guarantors shall:

          (i) use their respective commercially reasonable efforts to keep such Registration
Statement continuously effective and provide all requisite financial statements for the
period specified in Section 3 or 4 of this Agreement, as applicable. Upon the occurrence of
any event that would cause any such Registration Statement or the Prospectus contained
therein (A) to contain an untrue statement of material fact or omit to state any 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 or (B) not to be effective and
usable for resale of Transfer Restricted Securities during the period required by this
Agreement, the Company and the Guarantors shall file promptly an appropriate amendment to
such Registration Statement curing such defect, and, if Commission review is required, use
their respective commercially reasonable efforts to cause such amendment to be declared
effective as soon as practicable.

          (ii) prepare and file with the Commission such amendments and post-effective amendments
to the applicable Registration Statement as may be necessary to keep such Registration
Statement effective for the applicable period set forth in Section 3 or 4 hereof, as the
case may be; cause the Prospectus to be supplemented by any required Prospectus supplement,
and as so supplemented to be filed pursuant to Rule 424 under the Securities Act, and to
comply fully with Rules 424, 430A and 462, as applicable, under the Securities Act in a
timely manner; and comply with the provisions of the Securities Act with respect to the
disposition of all securities covered by such Registration Statement during the applicable
period in accordance with the intended method or methods of distribution by the sellers
thereof set forth in such Registration Statement or supplement to the Prospectus;

          (iii) advise each Holder promptly and, if requested by such Holder, confirm such advice
in writing, (A) when the Prospectus or any Prospectus supplement or post-effective amendment
has been filed, and, with respect to any applicable Registration Statement or any
post-effective amendment thereto, when the same has become effective, (B) of any request by
the Commission for amendments to the Registration Statement or amendments or supplements to
the Prospectus or for additional information relating thereto, (C) of the issuance by the
Commission of any stop order suspending the effectiveness of the Registration Statement
under the Securities Act or of the suspension by any state securities commission of the
qualification of the Transfer Restricted

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Securities for offering or sale in any jurisdiction, or the initiation of any
proceeding for any of the preceding purposes, (D) of the existence of any fact or the
happening of any event that makes any statement of a material fact made in the Registration
Statement, the Prospectus, any amendment or supplement thereto or any document incorporated
by reference therein untrue, or that requires the making of any additions to or changes in
the Registration Statement in order to make the statements therein not misleading, or that
requires the making of any additions to or changes in the Prospectus in order to make the
statements therein, in the light of the circumstances under which they were made, not
misleading. If at any time the Commission shall issue any stop order suspending the
effectiveness of the Registration Statement, or any state securities commission or other
regulatory authority shall issue an order suspending the qualification or exemption from
qualification of the Transfer Restricted Securities under state securities or Blue Sky laws,
the Company and the Guarantors shall use their respective commercially reasonable efforts to
obtain the withdrawal or lifting of such order at the earliest possible time;

          (iv) subject to Section 6(c)(i), if any fact or event contemplated by Section
6(c)(iii)(D) above shall exist or have occurred, prepare a supplement or post-effective
amendment to the Registration Statement or related Prospectus or any document incorporated
therein by reference or file any other required document so that, as thereafter delivered to
the purchasers of Transfer Restricted Securities, the Prospectus will not contain an untrue
statement of a material fact or omit to state any material fact necessary to make the
statements therein, in the light of the circumstances under which they were made, not
misleading;

          (v) if requested by an Initial Purchaser or a Holder, furnish to each Holder in
connection with such exchange or sale, if any, before filing with the Commission, copies of
any Registration Statement or any Prospectus included therein or any amendments or
supplements to any such Registration Statement or Prospectus (including all documents
incorporated by reference after the initial filing of such Registration Statement), which
documents will be subject to the review and comment of such Holders in connection with such
sale, if any, for a period of at least five days, and the Company will not file any such
Registration Statement or Prospectus or any amendment or supplement to any such Registration
Statement or Prospectus (including all such documents incorporated by reference) to which
such Holders shall reasonably object within five days after the receipt thereof. A Holder
shall be deemed to have reasonably objected to such filing if such Registration Statement,
amendment, Prospectus or supplement, as applicable, as proposed to be filed, contains an
untrue statement of a material fact or omit to state any 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 or fails to comply with the applicable requirements of
the Securities Act;

          (vi) promptly prior to the filing of any document that is to be incorporated by
reference into a Shelf Registration Statement or Prospectus, provide a copy of such document
to each Holder that made a request in writing described in (v) above in connection with such
exchange or sale, if any, make the Company’s and the Guarantors’ representatives available
for discussion of such document and other customary due

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diligence matters, and include such information in such document prior to the filing
thereof as such Holders may reasonably request;

     (vii) make available, at reasonable times, for inspection by each Holder and any
attorney or accountant retained by such Holders, all financial and other records, pertinent
corporate documents of the Company and the Guarantors and cause the Company’s and the
Guarantors’ officers, directors and employees to supply all information reasonably requested
by any such Holder, attorney or accountant in connection with such Shelf Registration
Statement or any post-effective amendment thereto subsequent to the filing thereof and prior
to its effectiveness; provided, however, that any information that is designated in writing
by the Company or the Guarantors as confidential at the time of delivery of such information
shall be kept confidential by the Holders or any such attorney or accountant, unless such
disclosure is made in connection with a court proceeding or required by law;

     (viii) if requested by any Holders in connection with such exchange or sale, promptly
include in any Shelf Registration Statement or Prospectus, pursuant to a supplement or
post-effective amendment if necessary, such information as such Holders may reasonably
request to have included therein, including, without limitation, information relating to the
“Plan of Distribution” of the Transfer Restricted Securities; and make all required filings
of such Prospectus supplement or post-effective amendment as soon as practicable after the
Company is notified of the matters to be included in such Prospectus supplement or
post-effective amendment;

     (ix) furnish to each Holder in connection with such exchange or sale, without charge,
at least one copy of the Shelf Registration Statement, as first filed with the Commission,
and of each amendment thereto, including all documents incorporated by reference therein and
all exhibits (including exhibits incorporated therein by reference);

     (x) deliver to each Holder without charge, as many copies of the Prospectus (including
each preliminary prospectus) and any amendment or supplement thereto as such Persons
reasonably may request; the Company and the Guarantors hereby consent to the use (in
accordance with law) of the Prospectus and any amendment or supplement thereto by each
selling Holder in connection with the offering and the sale of the Transfer Restricted
Securities covered by the Prospectus or any amendment or supplement thereto;

     (xi) upon the request of any Holder, enter into such agreements (including underwriting
agreements) and make such representations and warranties customary for offerings of such
type as may be reasonably requested and take all such other actions in connection therewith
in order to expedite or facilitate the disposition of the Transfer Restricted Securities
pursuant to any applicable Shelf Registration Statement contemplated by this Agreement as
may be reasonably requested by any Holder in connection with any sale or resale pursuant to
any applicable Shelf Registration Statement. In such connection, the Company and the
Guarantors shall:

12

 

     (A) upon request of any Holder furnish (or in the case of paragraphs (2) and
(3), use its commercially reasonable efforts to cause to be furnished), upon the
effectiveness of the Shelf Registration Statement:

     (1) an opinion, dated the date of effectiveness of the Shelf
Registration Statement of counsel for the Company and the Guarantors
covering matters as are customarily covered in opinions requested in
underwritten offerings and such other matters as such Holder may reasonably
request; and

     (2) a customary comfort letter, dated the date of effectiveness of the
Shelf Registration Statement from the Company’s independent accountants, in
the customary form and covering matters of the type customarily covered in
comfort letters to underwriters in connection with underwritten offerings;
and

     (B) deliver such other documents and certificates as may be reasonably
requested by the selling Holders to evidence compliance with the matters covered in
clause (A) above and with any customary conditions contained in the any agreement
entered into by the Company and the Guarantors pursuant to this clause (xi);

     (xii) prior to any public offering of Transfer Restricted Securities, cooperate with
the selling Holders and their counsel in connection with the registration and qualification
of the Transfer Restricted Securities under the securities or Blue Sky laws of such
jurisdictions as the selling Holders may request and do any and all other acts or things
necessary or advisable to enable the disposition in such jurisdictions of the Transfer
Restricted Securities covered by the applicable Registration Statement, but in no event for
longer than 365 days from the effective date of the Registration Statement; provided,
however, that neither the Company nor any Guarantor shall be required to register or qualify
as a foreign corporation where it is not now so qualified or to take any action that would
subject it to the service of process in suits or to taxation, other than as to matters and
transactions relating to the Registration Statement, in any jurisdiction where it is not now
so subject;

     (xiii) in connection with any sale of Transfer Restricted Securities that will result
in such securities no longer being Transfer Restricted Securities, reasonably cooperate with
the Holders to facilitate the timely preparation and delivery of certificates representing
Transfer Restricted Securities to be sold and not bearing any restrictive legends; and to
register such Transfer Restricted Securities in such denominations and such names as the
selling Holders may request at least two Business Days prior to such sale of Transfer
Restricted Securities;

     (xiv) use their respective commercially reasonable efforts to cause the disposition of
the Transfer Restricted Securities covered by the Registration Statement to be registered
with or approved by such other governmental agencies or authorities as may be necessary to
enable the seller or sellers thereof to consummate the disposition of such

13

 

Transfer Restricted Securities, but in no event for longer than 365 days from the
effective date of the Registration Statement, subject to the proviso contained in clause
(xii) above;

     (xv) provide a CUSIP number for all Transfer Restricted Securities not later than the
effective date of a Registration Statement covering such Transfer Restricted Securities and
provide the Trustee under the Indenture with printed certificates for the Transfer
Restricted Securities which are in a form eligible for deposit with the Depository Trust
Company;

     (xvi) otherwise use their respective commercially reasonable efforts to comply with all
applicable rules and regulations of the Commission, and with regard to any Shelf
Registration Statement for which an underwriter has been engaged, use their commercially
reasonable efforts to make generally available to its security holders, as soon as
practicable, a consolidated earnings statement meeting the requirements of Rule 158 under
the Securities Act (which need not be audited) covering a twelve-month period beginning
after the effective date of the Registration Statement (as such term is defined in paragraph
(c) of Rule 158 under the Securities Act);

     (xvii) cause the Indenture to be qualified under the TIA not later than the effective
date of the first Registration Statement required by this Agreement and, in connection
therewith, cooperate with the Trustee and the Holders to effect such changes to the
Indenture as may be required for such Indenture to be so qualified in accordance with the
terms of the TIA; and execute and use its commercially reasonable efforts to cause the
Trustee to execute, all documents that may be required to effect such changes and all other
forms and documents required to be filed with the Commission to enable such Indenture to be
so qualified in a timely manner; and

     (xviii) unless otherwise available through the Commission’s EDGAR System provide
promptly to each Holder, upon request, each document filed with the Commission pursuant to
the requirements of Section 13 or Section 15(d) of the Exchange Act.

     (d) Restrictions on Holders. Each Holder agrees by acquisition of a Transfer
Restricted Security that, upon receipt of the notice referred to in Section 6(c)(iii)(C) or any
notice from the Company of the existence of any fact of the kind described in Section 6(c)(iii)(D)
hereof (in each case, a “Suspension Notice”), such Holder will forthwith discontinue
disposition of Transfer Restricted Securities pursuant to the applicable Registration Statement
until (i) such Holder has received copies of the supplemented or amended Prospectus contemplated by
Section 6(c)(iv) hereof, or (ii) such Holder is advised in writing by the Company that the use of
the Prospectus may be resumed, and has received copies of any additional or supplemental filings
that are incorporated by reference in the Prospectus (in each case, the “Recommencement
Date”). Each Holder receiving a Suspension Notice hereby agrees that it will either (i)
destroy any Prospectuses, other than permanent file copies, then in such Holder’s possession which
have been replaced by the Company with more recently dated Prospectuses or (ii) deliver to the
Company (at the Company’s expense) all copies, other than permanent file copies, then in such
Holder’s possession of the Prospectus covering such Transfer Restricted Securities that was current
at the time of receipt of the Suspension Notice. The time period regarding the

14

 

effectiveness of such Registration Statement set forth in Section 3 or 4 hereof, as
applicable, shall be extended by a number of days equal to the number of days in the period from
and including the date of delivery of the Suspension Notice to the Recommencement Date.

SECTION 7. REGISTRATION EXPENSES

     (a) All expenses incident to the Company’s and the Guarantors’ performance of or compliance
with this Agreement will be borne by the Company, regardless of whether a Registration Statement
becomes effective, including without limitation: (i) all registration and filing fees and expenses;
(ii) all fees and expenses of compliance with federal securities and state Blue Sky or securities
laws; (iii) all expenses of printing (including printing certificates for the Exchange Notes to be
issued in the Exchange Offer and printing of Prospectuses, messenger and delivery services and
telephone; (iv) all fees and disbursements of outside counsel for the Company and the Guarantors
and (v) fees and disbursements of independent certified public accountants of the Company and the
Guarantors (including the expenses of any special audit and comfort letters required by or incident
to such performance).

     The Company will, in any event, bear its and the Guarantors’ internal expenses (including,
without limitation, all salaries and expenses of its officers and employees performing legal or
accounting duties), the expenses of any annual audit and the fees and expenses of any Person,
including special experts, retained by the Company or the Guarantors.

     (b) In connection with any Registration Statement required by this Agreement (including,
without limitation, the Exchange Offer Registration Statement and the Shelf Registration
Statement), the Company and the Guarantors will reimburse the Initial Purchasers and the Holders of
Transfer Restricted Securities who are tendering Notes into in the Exchange Offer and/or selling or
reselling Notes or Exchange Notes pursuant to the “Plan of Distribution” contained in the Exchange
Offer Registration Statement or the Shelf Registration Statement, as applicable, for the reasonable
and actual fees and disbursements of not more than one counsel, who shall be Latham & Watkins LLP,
unless another firm shall be chosen by the Holders of a majority in principal amount of the
Transfer Restricted Securities for whose benefit such Registration Statement is being prepared.

SECTION 8. INDEMNIFICATION

     (a) The Company and the Guarantors agree, jointly and severally, to indemnify and hold
harmless each Holder, its directors, officers and each Person, if any, who controls such Holder
(within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act), from
and against any and all losses, claims, damages, liabilities, judgments, (including without
limitation, any legal or other expenses incurred in connection with investigating or defending any
matter, including any action that could give rise to any such losses, claims, damages, liabilities
or judgments) caused by any untrue statement or alleged untrue statement of a material fact
contained in any Registration Statement, preliminary prospectus or Prospectus (or any amendment or
supplement thereto) provided by the Company to any Holder or any prospective purchaser of Exchange
Notes or registered Notes, or caused by any 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

15

 

misleading, except insofar as such losses, claims, damages, liabilities or judgments are
caused by an untrue statement or omission or alleged untrue statement or omission that is based
upon information relating to any of the Holders furnished in writing to the Company by any of the
Holders.

     (b) Each Holder of Transfer Restricted Securities agrees, severally and not jointly, to
indemnify and hold harmless the Company and the Guarantors, and their respective directors and
officers, and each person, if any, who controls (within the meaning of Section 15 of the Securities
Act or Section 20 of the Exchange Act) the Company, or the Guarantors to the same extent as the
foregoing indemnity from the Company and the Guarantors set forth in section (a) above, but only
with reference to information relating to such Holder furnished in writing to the Company by such
Holder expressly for use in any Registration Statement, preliminary prospectus or Prospectus (or
any amendment or supplement thereto). In no event shall any Holder, its directors, officers or any
Person who controls such Holder be liable or responsible for any amount in excess of the amount by
which the total amount received by such Holder with respect to its sale of Transfer Restricted
Securities pursuant to a Registration Statement exceeds (i) the amount paid by such Holder for such
Transfer Restricted Securities and (ii) the amount of any damages that such Holder, its directors,
officers or any Person who controls such Holder has otherwise been required to pay by reason of
such untrue or alleged untrue statement or omission or alleged omission.

     (c) In case any action shall be commenced involving any person in respect of which indemnity
may be sought pursuant to Section 8(a) or 8(b) (the “indemnified party”), the indemnified
party shall promptly notify the person against whom such indemnity may be sought (the
“indemnifying person”) in writing and the indemnifying party shall assume and control the
defense of such action, including the employment of counsel reasonably satisfactory to the
indemnified party and the payment of all fees and expenses of such counsel, as incurred (except
that in the case of any action in respect of which indemnity may be sought pursuant to both
Sections 8(a) and 8(b), a Holder shall not be required to assume the defense of such action
pursuant to this Section 8(c), but may employ separate counsel and participate in the defense
thereof, but the fees and expenses of such counsel, except as provided below, shall be at the
expense of the Holder). Any indemnified party shall have the right to employ separate counsel in
any such action and participate in the defense thereof, but the fees and expenses of such counsel
shall be at the expense of the indemnified party unless (i) the employment of such counsel shall
have been specifically authorized in writing by the indemnifying party, (ii) the indemnifying party
shall have failed to assume the defense of such action or employ counsel reasonably satisfactory to
the indemnified party or (iii) the named parties to any such action (including any impleaded
parties) include both the indemnified party and the indemnifying party, and the indemnified party
shall have been advised by such counsel that there may be one or more legal defenses available to
it which are different from or additional to those available to the indemnifying party (in which
case the indemnifying party shall not have the right to assume the defense of such action on behalf
of the indemnified party). 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 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 Holders, in the

16

 

case of the parties indemnified pursuant to Section 8(a), and by the Company and Guarantors,
in the case of parties indemnified pursuant to Section 8(b). No indemnifying party shall, without
the prior written consent of the indemnified party, effect any settlement or compromise of, or
consent to the entry of judgment with respect to, any pending or threatened action in respect of
which the indemnified party is or could have been a party and indemnity or contribution may be or
could have been sought hereunder by the indemnified party, unless such settlement, compromise or
judgment (i) includes an unconditional release of the indemnified party from all liability on
claims that are the subject matter of such action and (ii) does not include a statement as to or an
admission of fault, culpability or a failure to act, by or on behalf of the indemnified party. No
indemnifying party shall be liable for any settlement on its behalf, effectuated without its
consent.

     (d) To the extent that the indemnification provided for in this Section 8 is unavailable to an
indemnified party in respect of any losses, claims, damages, liabilities or judgments referred to
therein, then each indemnifying party, in lieu of indemnifying such indemnified party, shall
contribute to the amount paid or payable by such indemnified party as a result of such losses,
claims, damages, liabilities or judgments (i) in such proportion as is appropriate to reflect the
relative benefits received by the Company and the Guarantors, on the one hand, and the Holders, on
the other hand, from their sale of Transfer Restricted Securities or (ii) if the allocation
provided by clause 8(d)(i) is not permitted by applicable law, in such proportion as is appropriate
to reflect not only the relative benefits referred to in clause 8(d)(i) above but also the relative
fault of the Company and the Guarantors, on the one hand, and of the Holder, on the other hand, in
connection with the statements or omissions which resulted in such losses, claims, damages,
liabilities or judgments, as well as any other relevant equitable considerations. The relative
fault of the Company and the Guarantors, on the one hand, and of the Holder, 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 or such Guarantors, on the one hand, or by the Holder, on
the other hand, and the parties’ relative intent, knowledge, access to information and opportunity
to correct or prevent such statement or omission. The amount paid or payable by a party as a
result of the losses, claims, damages, liabilities and judgments referred to above shall be deemed
to include, subject to the limitations set forth in the second paragraph of Section 8(a), any
outside legal counsel or other fees or expenses reasonably incurred by such party in connection
with investigating or defending any action or claim.

     The Company, the Guarantors and each Holder agree that it would not be just and equitable if
contribution pursuant to this Section 8(d) were determined by pro rata allocation (even if the
Holders were treated as one entity for such purpose) or by any other method of allocation which
does not take account of the equitable considerations referred to in the immediately preceding
paragraph. The amount paid or payable by an indemnified party as a result of the losses, claims,
damages, liabilities or judgments referred to in the immediately preceding paragraph shall be
deemed to include, subject to the limitations set forth above, any outside legal counsel or other
expenses reasonably incurred by such indemnified party in connection with investigating or
defending any matter, including any action that could have given rise to such losses, claims,
damages, liabilities or judgments. Notwithstanding the provisions of this Section 8, no Holder,
its directors, its officers or any Person, if any, who controls such Holder shall be required to
contribute, in the aggregate, any amount in excess of

17

 

the amount by which the total received by such Holder with respect to the sale of Transfer
Restricted Securities pursuant to a Registration Statement exceeds (i) the amount paid by such
Holder for such Transfer Restricted Securities and (ii) the amount of any damages which such Holder
has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission
or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of
Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not
guilty of such fraudulent misrepresentation. The Holders’ obligations to contribute pursuant to
this Section 8(c) are several in proportion to the respective principal amount of Transfer
Restricted Securities held by each Holder hereunder and not joint.

SECTION 9. RULE 144A AND RULE 144

     The Company and the Guarantors agree with each Holder, for so long as any Transfer Restricted
Securities remain outstanding and during any period in which the Company or the Guarantors (i) are
not subject to Section 13 or 15(d) of the Exchange Act, to make available, upon request of any
Holder, to such Holder or beneficial owner of Transfer Restricted Securities in connection with any
sale thereof and any prospective purchaser of such Transfer Restricted Securities designated by
such Holder or beneficial owner, the information required by Rule 144A(d)(4) under the Securities
Act in order to permit resales of such Transfer Restricted Securities pursuant to Rule 144A, and
(ii) are subject to Section 13 or 15 (d) of the Exchange Act, to make all filings required thereby
in a timely manner in order to permit resales of such Transfer Restricted Securities pursuant to
Rule 144.

SECTION 10. MISCELLANEOUS

     (a) (intentionally omitted)

     (b) No Inconsistent Agreements. Neither the Company nor any Guarantor will, on or
after the date of this Agreement, enter into any agreement with respect to its securities that is
inconsistent with the rights granted to the Holders in this Agreement or otherwise conflicts with
the provisions hereof. Neither the Company nor any Guarantor has previously entered into any
agreement granting any registration rights with respect to its securities to any Person that would
require such securities to be included in any Registration Statement filed hereunder. The rights
granted to the Holders hereunder do not in any way conflict with and are not inconsistent with the
rights granted to the holders of the Company’s and the Guarantors’ securities under any agreement
in effect on the date hereof.

     (c) Amendments and Waivers. The provisions of this Agreement may not be amended,
modified or supplemented, and waivers or consents to or departures from the provisions hereof may
not be given unless (i) in the case of Section 5 hereof and this Section 10(c)(i), the Company has
obtained the written consent of Holders of all outstanding Transfer Restricted Securities and (ii)
in the case of all other provisions hereof, the Company has obtained the written consent of Holders
of a majority of the outstanding principal amount of Transfer Restricted Securities (excluding
Transfer Restricted Securities held by the Company or its Affiliates). Notwithstanding the
foregoing, a waiver or consent to departure from the provisions hereof that relates exclusively to
the rights of Holders whose Transfer Restricted Securities are being tendered pursuant to the
Exchange Offer, and that does not affect directly or indirectly the

18

 

rights of other Holders whose Transfer Restricted Securities are not being tendered pursuant
to such Exchange Offer, may be given by the Holders of a majority of the outstanding principal
amount of Transfer Restricted Securities subject to such Exchange Offer.

     (d) Third Party Beneficiary. The Holders shall be third party beneficiaries to the
agreements made hereunder between the Company and the Guarantors, on the one hand, and the Initial
Purchasers, on the other hand, and shall have the right to enforce such agreements directly to the
extent they may deem such enforcement necessary or advisable to protect its rights or the rights of
Holders hereunder.

     (e) Notices. All notices and other communications provided for or permitted hereunder
shall be made in writing by hand-delivery, first-class mail (registered or certified, return
receipt requested), telex, telecopier, or air courier guaranteeing overnight delivery:

     (i) if to a Holder, at the address set forth on the records of the Registrar under the
Indenture, with a copy to the Registrar under the Indenture; and

     (ii) if to the Company or the Guarantors:

MetroPCS Wireless, Inc.

2250 Lakeside Boulevard

Richardson, Texas 75082

Attention: Executive Vice President, General Counsel and Secretary

With a copy to:

Baker Botts, LLP

2001 Ross Avenue

Dallas, Texas 75201

Attention: Andrew M. Baker

     (iii) if to the Initial Purchasers:

J.P. Morgan Securities Inc.

Banc of America Securities LLC

HSBC Securities (USA) Inc.

      c/o J.P. Morgan Securities Inc.

      270 Park Avenue, 8th Floor

      New York, NY 10017

Attention.: Corporate Finance Department

with a copy to:

19

 

Latham & Watkins LLP

885 Third Avenue, Suite 1000

New York, NY 10022

Attention.: Marc D. Jaffe

     All such notices and communications shall be deemed to have been duly given at the time
delivered by hand, if personally delivered; five business days after being deposited in the mail,
postage prepaid, if mailed; when receipt acknowledged, if telecopied; and on the next business day,
if timely delivered to an air courier guaranteeing overnight delivery.

     Copies of all such notices, demands or other communications shall be concurrently delivered by
the Person giving the same to the Trustee at the address specified in the Indenture.

     (f) Successors and Assigns. This Agreement shall inure to the benefit of and be
binding upon the successors and assigns of each of the parties, including without limitation and
without the need for an express assignment, subsequent Holders; provided, that nothing herein shall
be deemed to permit any assignment, transfer or other disposition of Transfer Restricted Securities
in violation of the terms hereof or of the Purchase Agreement or the Indenture. If any transferee
of any Holder shall acquire Transfer Restricted Securities in any manner, whether by operation of
law or otherwise, such Transfer Restricted Securities shall be held subject to all of the terms of
this Agreement, and by taking and holding such Transfer Restricted Securities such Person shall be
conclusively deemed to have agreed to be bound by and to perform all of the terms and provisions of
this Agreement, including the restrictions on resale set forth in this Agreement and, if
applicable, the Purchase Agreement, and such Person shall be entitled to receive the benefits
hereof.

     (g) Counterparts. This Agreement may be executed in any number of counterparts and by
the parties hereto in separate counterparts, each of which when so executed shall be deemed to be
an original and all of which taken together shall constitute one and the same agreement.

     (h) Headings. The headings in this Agreement are for convenience of reference only
and shall not limit or otherwise affect the meaning hereof.

     (i) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO THE CONFLICT OF LAW RULES THEREOF.

     (j) Severability. In the event that any one or more of the provisions contained
herein, or the application thereof in any circumstance, is held invalid, illegal or unenforceable,
the validity, legality and enforceability of any such provision in every other respect and of the
remaining provisions contained herein shall not be affected or impaired thereby.

     (k) Entire Agreement. This Agreement is intended by the parties as a final expression
of their agreement and intended to be a complete and exclusive statement of the agreement and
understanding of the parties hereto in respect of the subject matter contained herein. There are
no restrictions, promises, warranties or undertakings, other than those set forth or referred to

20

 

herein with respect to the registration rights granted with respect to the Transfer Restricted
Securities. This Agreement supersedes all prior agreements and understandings between the parties
with respect to such subject matter.

[Signature Pages Follow]

21

 

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

	 	 	 	 	 	 	 
	 

	 	 	 	 	 	 
	 	 	METROPCS WIRELESS, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Roger D. Linquist	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Roger D. Linquist	 	 
	 

	 	Title:
	 	President and Chief Executive Officer	 	 
	 
	 	 	 	 	 	 
	 	 	METROPCS AWS, LLC	 	 
	 

	 	METROPCS, INC.	 	 
	 

	 	METROPCS CALIFORNIA, LLC	 	 
	 

	 	METROPCS FLORIDA, LLC	 	 
	 

	 	METROPCS GEORGIA, LLC	 	 
	 

	 	METROPCS MICHIGAN, INC.	 	 
	 

	 	METROPCS TEXAS, LLC	 	 
	 

	 	METROPCS 700 MHz, LLC	 	 
	 

	 	METROPCS COMMUNICATIONS, INC.	 	 
	 

	 	METROPCS MASSACHUSETTS, LLC	 	 
	 

	 	METROPCS NEVADA, LLC	 	 
	 

	 	METROPCS NEW YORK, LLC	 	 
	 

	 	METROPCS PENNSYLVANIA, LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Roger D. Linquist	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Roger D. Linquist	 	 
	 

	 	Title:
	 	President and Chief Executive Officer	 	 

 

 

Accepted and agreed to as of

the date first above written:

	 	 	 	 	 
	 

	 	 	 	 
	J.P. MORGAN SECURITIES INC.	 	 
	 
	 	 	 	 
	By:

	 	/s/ Paul Finger	 	 
	 

	 	 	 	 
	Name: Paul Finger	 	 
	Title: Executive Director	 	 
	 
	 	 	 	 
	BANC OF AMERICA SECURITIES LLC	 	 
	 
	 	 	 	 
	By:

	 	/s/ Daniel J. Kelly	 	 
	 

	 	 	 	 
	Name: Daniel J. Kelly	 	 
	Title: Managing Director	 	 
	 
	 	 	 	 
	HSBC SECURITIES (USA) INC.	 	 
	 
	 	 	 	 
	By:

	 	/s/ Maureen K. Sweeny	 	 
	 

	 	 	 	 
	Name: Maureen K. Sweeny	 	 
	Title: Vice President	 	 

 

 

Schedule I

Guarantors

	 	 	 	 	 
	 	 	Jurisdiction of	 
	Entity	 	Organization	 
	MetroPCS 700 MHz, LLC
	 	Delaware
	 
	MetroPCS AWS, LLC
	 	Delaware
	 
	MetroPCS, Inc.
	 	Delaware
	 
	MetroPCS California, LLC
	 	Delaware
	 
	MetroPCS Communications, Inc.
	 	Delaware
	 
	MetroPCS Florida, LLC
	 	Delaware
	 
	MetroPCS Georgia, LLC
	 	Delaware
	 
	MetroPCS Massachusetts, LLC
	 	Delaware
	 
	MetroPCS Michigan, Inc.
	 	Delaware
	 
	MetroPCS Nevada, LLC
	 	Delaware
	 
	MetroPCS New York, LLC
	 	Delaware
	 
	MetroPCS Pennsylvania, LLC
	 	Delaware
	 
	MetroPCS Texas, LLC
	 	Delawareexv10w1

Exhibit 10.1

TWENTIETH AMENDMENT, CONSENT AND WAIVER

TO CREDIT AGREEMENT

     This Twentieth Amendment, Consent and Waiver to Credit Agreement (this
“Amendment”) is entered into as of January ___, 2009 by and among Wellman, Inc., a Delaware
corporation (the “Funds Administrator”) on behalf of itself and the other borrowers
under the Credit Agreement, each as a debtor and debtor-in-possession (collectively, and
together with the Funds Administrator, the “Borrowers”), Deutsche Bank Trust Company
Americas, as Administrative Agent, and the other financial institutions party hereto.

RECITALS

     A. The Funds Administrator, the Borrowers, the Administrative Agent and the Lenders are
party to that certain Credit Agreement dated as of February 26, 2008 (the “Credit
Agreement”). Unless otherwise specified herein, capitalized terms used in this Amendment
shall have the meanings ascribed to them by the Credit Agreement.

     B. The Funds Administrator, on behalf of itself and the other Borrowers, the
Administrative Agent and the undersigned Lenders wish to amend the Credit Agreement on the
terms and conditions set forth below.

     Now, therefore, in consideration of the mutual execution hereof and other good and
valuable consideration, the parties hereto agree as follows:

          1. Amendments to Credit Agreement. Upon the Effective Date (as defined
herein):

          (a) Section 1.1 of the Credit Agreement shall be amended by deleting clause (a)(i)
of the definition of “Borrowing Base” and replacing it with the following:

“(i) the sum, without duplication, of (A) eighty five percent (85%) of the
Value of Eligible Accounts Receivable of each Borrower and (B) eighty five
percent (85%) of the aggregate insured amount (net of any deductibles) of the
Specified Accounts Receivable of each Borrower that have been insured in a manner
acceptable to Agent, plus”

          (b) Section 1.1 of the Credit Agreement shall be amended by deleting clause (d) of
the definition of “Eligible Accounts Receivable” and replacing it with the following:

“(d) the Account, when aggregated with all other Accounts of such account debtor
(and any Affiliate thereof), exceeds thirty percent (30%) in face value of all
Accounts of Borrowers combined then outstanding, to the extent of such excess,
provided that Accounts insured in a manner satisfactory to the Agent, guaranteed by
a guarantor reasonably acceptable to the Agent or supported or secured by an
irrevocable letter of credit in form and substance satisfactory to the Agent,
issued by a financial institution satisfactory to the Agent, in each case,

 

duly transferred, assigned or pledged to the Agent (together with sufficient
documentation to permit direct draws by or direct payments to the Agent), shall be
excluded for the purposes of such calculation to the extent of the face amount of
such letter of credit or, in the case of insurance or guarantees, as determined by
the Agent in its sole discretion; or”

          (c) Section 1.1 of the Credit Agreement shall be amended by adding the
following definition of “Specified Accounts Receivable”:

““Specified Accounts Receivable” shall mean accounts receivable related to
the Borrowers’ polyester fiber and engineering resins business of the following
account debtors: (a) Manufactures Kaltex SA de Tepeji Del Rio, (b) Zagis S A De C V
Tepeji Del Rio HG, (c) Coats Mexico S A de C V Deleg Tlalpan MX, (d) Tejidos Xemla
S A de C V Huejotzingo PU, (e) Compania Universal Textil, (f) R Belda Llorens S A,
(g) Ivatex S A de C V Atlixco PU, (h) O R V Manufacturing S P A, (i) Hilaturas Mig,
S.A. de C.V., (j) Cobback de Mexico SA de CV, (k) Puebla PU, (l) Evelio Matrix
Molina, (m) Jose Valeri Horms S A and (n) Grupo Textil Altex de CV Azcapotzalco MX”.

          2. Representations and Warranties of the Borrowers. The Funds
Administrator, on behalf of itself and the other Borrowers, represents and warrants that:

          (a) The execution and delivery of this Amendment by the Funds Administrator, and the
performance of this Amendment by the Borrowers, have been duly authorized by all necessary
corporate action and that this Amendment is a legal, valid and binding obligation of the
Borrowers enforceable against the Borrowers in accordance with its terms, except as the
enforcement thereof may be subject to the effect of any applicable bankruptcy, insolvency,
reorganization, moratorium or similar law affecting creditors’ rights generally;

          (b) Each of the representations and warranties of the Borrowers contained in the
Credit Agreement (treating this Amendment as a Loan Document for purposes thereof) is true
and correct on and as of the date hereof as if made on the date hereof except to the extent
any such representation or warranty is stated to relate solely to an earlier date, in which
case such representation or warranty shall have been true and correct on and as of such
earlier date; and

          (c) After giving effect to this Amendment, no Default or Event of Default has occurred
and is continuing.

          3. Consent. The Administrative Agent and the Lenders hereby agree that
notwithstanding the requirements set forth in Section 7.1(c) of the Credit Agreement, the
Borrowers shall be permitted until January 25, 2009 to deliver their December 2008 financial
statements (the “December 2008 Financial Statements”); provided that the Borrowers’
failure to deliver the December 2008 Financial Statements to the Administrative Agent on or
before January 25, 2009 shall constitute an immediate Event of Default under the Credit Agreement.

2

 

          4. Waiver. The Administrative Agent and the Lenders hereby waive the requirement set
forth in that certain Nineteenth Amendment to Credit Agreement dated as of December 19, 2008 that
the Borrowers provide the Administrative Agent with a liquidation budget to be utilized in the
event that the Reorganization Plan is not confirmed or the Consummation Date.

          5. Effective Date. This Amendment shall become effective as of January 14, 2009 upon
the execution and delivery hereof by the Funds Administrator on behalf of itself and the other
Borrowers, the Administrative Agent and the Required Lenders (the “Effective Date”).

          6. Reference to and Effect Upon the Credit Agreement.

          (a) Except as specifically amended above, the Credit Agreement and the other Loan
Documents shall remain in full force and effect and are hereby ratified and confirmed.

          (b) The execution, delivery and effectiveness of this Amendment (i) shall not operate
as a waiver of any right, power or remedy of the Administrative Agent or any Lender under
the Credit Agreement or any Loan Document, nor constitute a waiver of any Default or
provision of the Credit Agreement or any Loan Document, except as specifically set forth
herein and (ii) shall not give rise to any obligation on the part of the Administrative
Agent or the Lenders to further modify or waive any term or condition of the Credit
Agreement or any of the other Loan Documents or give rise to any defenses or counterclaims
to the right of the Administrative Agent or the Lenders, subject to the terms hereof, to
enforce their rights and remedies under the Credit Agreement and the other Loan Documents.
Except as expressly limited herein, the Administrative Agent and the Lenders hereby
expressly reserve all of their rights and remedies under the Loan Documents and under
applicable law with respect to all existing and future Defaults. Upon the effectiveness of
this Amendment, each reference in the Credit Agreement to “this Agreement”, “hereunder”,
“hereof, “herein” or words of similar import shall mean and be a reference to the Credit
Agreement as amended hereby.

          (c) The parties acknowledge that this Amendment embodies the entire agreement and
understanding among the Borrowers, the Administrative Agent and the Lenders with respect to
the subject matter hereof and supersedes all prior discussions, agreements and
understandings among the Borrowers, the Administrative Agent and the Lenders relating to
the subject matter hereof.

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

          8. Headings. Section headings in this Amendment are included herein for convenience
of reference only and shall not constitute a part of this Amendment for any other purposes.

          9. Counterparts. This Amendment may be executed in any number of counterparts, each of
which when so executed shall be deemed an original but all such counterparts shall constitute one
and the same instrument.

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          IN WITNESS WHEREOF, the parties have executed this Amendment as of the date and year first
above written.

[SIGNATURE PAGES FOLLOW]

 

 

	 	 	 	 	 
	 	DEUTSCHE BANK TRUST COMPANY

AMERICAS, as Administrative Agent

 	 
	 	By:  	/s/ Dusan Lazarov
 	 
	 	 	Name:  	Dusan Lazarov 	 
	 	 	Title:  	Vice President 	 
	 
	 	 	 
	 	By:  	                       /s/ David J Bell
 	 
	 	 	Name:  	David J Bell 	 
	 	 	Title:  	Managing Director 	 

 

 

	 	 	 	 	 
	 	WELLMAN, INC.

 	 
	 	By:  	/s/ Keith R Phillips
 	 
	 	 	Name:  	Keith R Phillips 	 
	 	 	Title:  	Chief Financial Officer

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