Document:

exv10w19

 

Exhibit 10.19

[FORM OF SECOND AMENDMENT TO THE MASTER EQUIPMENT FINANCING AGREEMENT]

[MOTOROLA CREDIT CORPORATION LOGO]

January 16, 2004

NII HOLDINGS, INC.

10700 Parkridge Boulevard, Suite 600

Reston, VA 20191

Attention: Byron Siliezar

Facsimile No.: (703) 547-5289

RE: Letter Agreement in connection with the

Master Equipment Financing Agreement

     Reference is made to that certain Master Equipment Financing Agreement,
dated as of November 12, 2002 (as hereafter amended, supplemented or modified,
from time to time including, but not limited to, that certain First Amendment
to the Master Equipment Financing Agreement dated July 29, 2003 (the “First
MEFA Amendment”)), between and among NII Holdings (Cayman), Ltd.; Nextel del
Peru, S.A.; and Teletransportes Integrales, S.A. de C.V.
(collectively, the “Borrowers”); the Lenders named therein, Motorola Credit Corporation (“MCC”) as the
“Administrative Agent” and the “Lender”; and Citibank, N.A. (the “Collateral
Agent”) (as so amended, the “Agreement”.)

     Capitalized terms used herein but not otherwise defined herein shall have
the same meanings given to such terms in the Agreement.

     In consideration of mutual promises, and for other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged by
the Borrowers and MCC, the Parties hereto agree as follows:

The 30 days term referred to in the Agreement in: (i) Clause (f) of the
definition of “Permitted Indebtedness” set forth in Section 1.1; (ii) the
definition of “Permitted Senior Note Refinancing Indebtedness” under Section
1.1; (iii) clause (ii) of Section 2.5(a); (iv) clause (a) of Section 8.15; and
(v) Section 9.6(b), is hereby substituted with 60 days.

     Except
as set forth in this letter, the agreements set forth above shall in
no way limit or waive any other rights, power, obligations or remedies that
MCC, on the one hand, and the Borrowers, on the other hand, have with respect
to the Agreement.

     This letter may be executed in counterparts, each of which shall be an
original and shall constitute the same agreement. This letter shall become
effective as of the date first above written when and if counterparts of this
letter shall have been executed by each of the parties hereto.

     This letter shall, for purposes of Section 13 of the Agreement, be deemed
to be a Credit Document.

 

Letter Waiver

August 29, 2003

Page 2

     If
the foregoing accurately reflects our agreement, please sign this
letter agreement in
the space indicated below.

     Very truly yours,

    	 	 	 
	MOTOROLA
            CREDIT CORPORATION
	 	 
	 
	 	 
	By: _____________________
	 	 
	Name:
            Gary B. Tatje
	 	 
	Title:
            Vice President
	 	 
	 
	 	 
	 
	 	 
	Agreed
            and Accepted
	 	 
	by:
	 	 
	 
	 	 
	 
	 	 
	 
	 	NII HOLDINGS (CAYMAN), LTD. 
	NII HOLDINGS,
            INC. 
	 	 
	 
	 	 
	 
	 	 
	By: _____________________
	 	By: _____________________
	Name:
	 	Name:
	Title:
	 	Title:
	 
	 	 
	 
	 	 
	 
	 	 
	NEXTEL
            DEL PERU, S.A. 
	 	TELETRANSPORTES INTEGRALES, S.A. DE C.V.
	 
	 	 
	 
	 	 
	By: _____________________
	 	By: _____________________
	Name:
          
	 	Name:
	Title:
          
	 	Title:
	 	 	 
	 
	 	 
	Only to
            acknowledge receipt
	 	 
	CITIBANK,
            N.A.
	 	 
	as Collateral
            Agent
	 	 
	 
	 	 
	 
	 	 
	By: _____________________
	 	 
	Name:
	 	 
	Title:exv10w21

 

Exhibit 10.21

[FORM OF LOAN ASSIGNMENT AGREEMENT]

LOAN ASSIGNMENT AGREEMENT

     THIS
LOAN ASSIGNMENT AGREEMENT (this “Agreement”), dated as
of the 26th
day of September, 2003, by and between MOTOROLA CREDIT CORPORATION, a Delaware
corporation (the “Seller”), NII HOLDINGS, INC., a Delaware corporation (the
“Purchaser”) and NEXTEL TELECOMUNICAÇÕES LTDA., a Brazilian limited company
(the “Borrower”) recites and provides as follows:

RECITALS:

     (1)  The Seller is the creditor under that certain Second Amended and
Restated Equipment Financing Agreement, dated as of November 12, 2002 (the “New
EFA”) by and between the Borrower, McCaw International (Brazil), Ltd., the
Seller and Citibank, N.A., as Collateral Agent (the “Collateral Agent”).

     (2)  On November 12, 2002, NII Holdings (Cayman), Ltd., the Seller, Nextel
del Peru S.A., Teletransportes Integrales, S.A. de C.V., the Lenders named
therein and the Collateral Agent entered into a certain Master Equipment
Financing Agreement (the “MEFA”).

     (3)  On November 12, 2002, NII Holdings (Cayman), Ltd., the Guarantors
signatory thereto, and Wilmington Trust Company entered into a certain
Indenture (the “Indenture”).

     (4)  The Purchaser, the Borrower and the Seller entered into a certain
Agreement to Retire Indebtedness dated July 29, 2003 (the “Agreement to Retire
Indebtedness”), which provided for the repayment of the New EFA under the terms
set forth therein.

     (5)  Consistent with the terms of the Agreement to Retire Indebtedness, the
Seller wishes to sell and transfer to the Purchaser all of the Seller’s rights,
title and interest in, to and under the New EFA and the Obligations, including
without limitation all collateral therefor and all guarantees with respect
thereto, and the Purchaser wishes to purchase such rights, title, interests,
collateral and guarantees, all as more particularly set forth herein.

AGREEMENT:

     NOW, THEREFORE, for and in consideration of the premises, the mutual
covenants and agreements hereinafter set forth, and other good and valuable
consideration, the receipt and sufficiency of which the parties hereby
acknowledge, the parties agree as follows:

     (1)  Unless otherwise defined herein, capitalized terms defined in the New
EFA and used herein shall have the meanings assigned thereto in the New EFA.

-1-

 

     (2)  The Seller hereby irrevocably sells and assigns to the Purchaser
without representation, except as expressly set forth herein, or recourse to
the Seller, and the Purchaser hereby irrevocably purchases and assumes from the Seller without recourse to,
or representation, except as expressly set forth herein, the Seller, as of the
date hereof, all of Seller’s rights, title and interests in, to and under the
New EFA and the Obligations, including, without limitation, all collateral
therefor and all guarantees with respect thereto (collectively, the “Loan”).

     (3)  The Seller (a) makes no representation or warranty, express or
implied, and assumes no responsibility with respect to any statements,
warranties or representations made in or in connection with the Loan or any
other instrument or document furnished pursuant thereto or with respect to the
execution, legality, validity, enforceability, genuineness or sufficiency or
value of the Loan or any other instrument or document furnished pursuant
thereto, other than that the Seller has not created any adverse claim upon the
Loan and that such Loan is free and clear of any such adverse claim; and (b)
makes no representation or warranty, express or implied, and assumes no
responsibility with respect to the financial condition of the Borrower, the
Purchaser or any of its Subsidiaries or the performance or observance by any of
the foregoing of any of their respective obligations with respect to the Loan
or any other instrument or document furnished pursuant thereto.

     (4)  The Purchaser (a) represents and warrants that it is legally
authorized to enter into this Agreement; and (b) confirms that it is in
possession of a copy of the New EFA, together with copies of the most recent
financial statements of the Borrower and such other documents and information
that is deemed appropriate to make its own credit analysis and decision to
enter into this Agreement.

     (5)  The Borrower hereby expressly confirms and agrees with all the terms
and conditions of the present assignment.

     (6)  Contemporaneously with the execution of this Agreement, the Purchaser
shall pay to the Seller the purchase price in the amount of $86,000,000.00, and
the Seller shall endorse any notes evidencing all or any portion of the Loan,
without representation, except as expressly set forth herein, or recourse,
payable to the Purchaser and deliver such notes to the Purchaser.

     (7)  Promptly upon request by the Purchaser from time to time, the Seller
shall, at the sole cost and expense of the Seller and, to the extent required
by Seller, with reasonable indemnities from the Purchaser to the Seller,
execute and deliver to the Purchaser such additional documents, instruments and
notices as the Purchaser may reasonably request in order to vest more
effectively in the Purchaser the title, and the benefits appurtenant, to the
Loan.

     (8)  From and after the execution hereof, (a) all right, power and
authority vested in the owner of the Loan by the New EFA, the other loan
documents relating thereto and under applicable law, shall be exercisable
solely by the Purchaser, its successor and assigns, and (b) the Seller shall
relinquish its rights and be released from its obligations under the New EFA
(other than any such rights which expressly survive the termination thereof).

-2-

 

     (9)  The provisions of this Agreement notwithstanding, this Agreement and
the assignment of the Loan effected hereby are subject to the terms of the
MEFA, the Intercreditor Agreement, the Indenture and the collateral and other documents related
thereto. Accordingly, Purchaser confirms and agrees that any promissory note
or other evidence of the indebtedness assigned by Seller to Purchaser pursuant
to this Agreement (“Promissory Note”) shall, together with such indebtedness so
evidenced, be pledged to the Collateral Agent pursuant to the terms of that
certain Security Agreement dated as of November 12, 2002 between the Purchaser
and the Collateral Agent. A Promissory Note shall be executed within 45 days
of the date hereof and shall be a demand promissory note and shall remain a
demand promissory note for so long as the MEFA and the New Senior Notes are
outstanding; it being understood that the failure to satisfy the requirements
of this sentence shall be an “Event of Default” under the MEFA.

     (10)  It is hereby irrevocably agreed by the Purchaser and the Borrower
that no payment of principal shall be made or accepted in respect of such
Promissory Note (or such indebtedness) prior to the payment in full of the
obligations outstanding under the MEFA and that any amounts received in respect
of the principal amount of the Promissory Note (or such indebtedness) prior to
the payment in full of the obligations outstanding under the MEFA shall be
received in trust and promptly turned over to the “Administrative Agent” under
the MEFA for the application to the MEFA (subject to any sharing thereof with
the creditors under the Indenture to the extent required under the
Intercreditor Agreement). The Purchaser and the Borrower further hereby
irrevocably confirm and agree that no payment of interest or fees shall be made
or accepted in respect of such Promissory Note (or such indebtedness) at any
time while there exists a “Default” or “Event of Default” under the MEFA and
any amounts received in violation of the foregoing (i.e., any interest or fees
received while there exists a “Default” or “Event of Default” under the MEFA)
shall be received in trust and promptly turned over to the “Administrative
Agent” under the MEFA for the application on the MEFA (subject to any sharing
thereof with the creditors under the Indenture to the extent required under the
Intercreditor Agreement). Additionally, the Purchaser and the Borrower hereby
agree that until the payment in full of the obligations outstanding under the
MEFA, none of the Purchaser, any of its assigns or the Borrower shall exercise
or allow the exercise of remedies with respect to any of the Collateral
securing the New EFA. The foregoing provisions of this Paragraph (10)
notwithstanding, such provisions shall have no further force or effect if the
holder of the MEFA is a Person other than Motorola Credit Corporation (or
another subsidiary of Motorola Inc.)

     (11)  In order to implement the obligations of this Agreement, each of the
Purchaser, the Seller and the Borrower hereby agrees and undertakes to amend
and to cause Borrower’s Subsidiaries to amend, within 60 (sixty) days counted
from the date hereof (except for the mortgages, which shall be amended within
90 (ninety) days counted from the date hereof) (i) all the Collateral in Brazil
securing the New EFA in order to reflect the present assignment, replacing the
Seller as creditor; and (ii) all the Collateral in Brazil securing the MEFA in
order to state that such securities shall remain in full force and effect.

-3-

 

     (12)  By this Agreement, the Borrower is obligated to, currently with the
delivery of financial statements pursuant to Sections 8.2 and 8.3 of the MEFA,
provide an updated certified Collateral Report, indicating the location in
Brazil of each of the assets subject to the Security Agreements.

     (13)  The Purchaser agrees, subject to the terms and conditions of this
Agreement, to indemnify and hold harmless the Seller from and against any and
all costs, losses or expenses arising directly or indirectly as a result of the
Seller continuing to hold the securities created by the Borrower under the New
EFA until the perfection of the present assignment by its registration and by
the registration of the amendments mentioned in Paragraph 11 above before the
competent Registry of Deeds and Documents.

     (14)  This Agreement shall convey and amend the New EFA. All the clauses
and terms of the New EFA which do not conflict with this Agreement shall be
unaffected by this Agreement and shall, unless subsequently amended or
modified, remain in full force and effect.

     (15)  This Agreement shall be governed by and construed in accordance with
the laws of the State of New York.

     (16)  The rights and obligations created hereunder shall inure to the
benefit of, and be binding upon, the parties and their respective successors
and assigns.

     (17)  This Agreement shall be registered before the competent Registry of
Deeds and Documents of the City of São Paulo, Brazil, within 30 (thirty) days
counted from the date hereof at the expense of the Purchaser and the Borrower.

-4-

 

     WITNESS the following signatures:

	 	 	 	 	 	 	 	 	 
	 	 	
 
	 	MOTOROLA CREDIT CORPORATION, a
	 	 	 	 	Delaware corporation
	 	 	 	 	 	 	 	 	 
	 	 	 	 	By:
	

	 	 	 	 	 	 	Its:
	

	 	 	 	 	 	 	 	 	 
	 	 	 	 	NII HOLDINGS, INC., a Delaware
	 	 	 	 	corporation
	 	 	 	 	 	 	 	 	 
	 	 	 	 	By:
	

	 	 	 	 	 	 	Its:
	

Agreed and Acknowledged:

NEXTEL TELECOMUNICAÇÕES LTDA.

	 	 	 	 	 
	By:	 	

	 	 
	Its:	 	

	 	 

-5-

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