Document:

Unassociated Document

    
      Exhibit
        10.1

       

      EXECUTION
        COPY

       

    

    INVESTMENT
      MANAGEMENT TRUST AGREEMENT

     

    This
      INVESTMENT MANAGEMENT TRUST AGREEMENT (this “Agreement”) is made as of June 25,
      2007, by and between GSC Acquisition Company (the “Company”) and American Stock
      Transfer & Trust Company (the “Trustee”).

     

    WHEREAS,
      the Company’s Registration Statement on Form S-1, Nos. 333-138832 and 333-144037
      (the “Registration Statement”), for its initial public offering of securities
      (the “IPO”) have been declared effective as of the date hereof by the Securities
      and Exchange Commission (the “Effective Date”); and

     

    WHEREAS,
      Citigroup Global Markets Inc. is acting as the representative (the
“Representative”) of the underwriters in the IPO pursuant to an underwriting
      agreement between the Company and the Representative (the “Underwriting
      Agreement”); and

     

    WHEREAS,
      as described in the Company’s Registration Statement, and in accordance with the
      Company’s Amended and Restated Certificate of Incorporation, upon execution of
      this Agreement or as promptly thereafter as practicable, the Company shall
      deliver to the Trustee an amount equal to the sum of (i) $170,375,000 of the
      net
      proceeds of the IPO, including $5.4 million in deferred underwriting
      compensation (or $195,535,000 of the net proceeds, including $6.210 million
      in
      deferred underwriting compensation, if the over-allotment option is exercised
      in
      full) and (ii) $4 million of the proceeds from the Company’s issuance and sale
      in a private placement of 4,000,000 warrants issued to its founding stockholder,
      GSC Secondary Interest Fund, LLC, for a total of $175,775,000 (or $201,695,000
      if the underwriters’ over-allotment option is exercised in full), to be
      deposited and held in a trust account for the benefit of the Company and the
      holders of the Company’s common stock, par value $0.001 per share, issued in the
      IPO (the Company’s “Public Stockholders”).  The amount to be delivered
      to the Trustee is referred to herein as the “Property,” and the parties for
      whose benefit the Trustee shall hold the Property are referred to together
      with
      the Company as the “Beneficiaries”; and

     

    WHEREAS,
      pursuant to the Underwriting Agreement, a portion of the Property equal to
      $5.4
      million ($6.210 million, if the underwriters’ over-allotment option is exercised
      in full) (or the amount specified in a notice pursuant to Paragraph 2(d) hereof)
      is attributable to deferred underwriting commissions that will become payable
      by
      the Company to the Representative upon the consummation of an Initial Business
      Combination (as defined in the Registration Statement) (the “Deferred
      Discount”); and

     

    WHEREAS,
      the Company and the Trustee desire to enter into this Agreement to set forth
      the
      terms and conditions pursuant to which the Trustee shall hold the
      Property;

     

    NOW,
      THEREFORE, in consideration of the premises herein contained and other good
      and
      valuable consideration, the sufficiency of which is hereby acknowledged, the
      parties agree as follows:

     

    1.  Agreements
      and Covenants of Trustee.  The Trustee is hereby appointed to
      serve as Trustee hereunder, and the Trustee hereby agrees to act as Trustee
      upon
      the terms and conditions set forth herein. The Trustee hereby agrees and
      covenants to:

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

       

    

    (a)  Hold
      the
      Property in trust for the Beneficiaries in accordance with the terms of this
      Agreement, in a segregated trust account (the “Trust Account”) established by
      the Trustee at JPMorgan Chase Bank, N.A.;

     

    (b)  Manage,
      supervise and administer the Trust Account subject to the terms and conditions
      set forth herein;

     

    (c)  In
      a
      timely manner, upon the written instruction of the Company, to invest and
      reinvest the Property only in U.S. “government securities” within the meaning of
      Section 2(a)(16) of the Investment Company Act of 1940, as amended (the
“Investment Company Act”), with a maturity of 180 days or less or in money
      market funds selected by the Company which invest principally in either
      short-term securities issued or guaranteed by the United States having a rating
      in the highest investment category granted thereby by a recognized credit rating
      agency at the time of acquisition or tax exempt municipal bonds issued by
      governmental entities located within the United States or otherwise meeting
      the
      conditions under Rule 2a-7 under the Investment Company Act;

     

    (d)  Collect
      and receive, when due, all principal and income arising from the Property,
      which
      shall become part of the “Property,” as such term is used herein;

     

    (e)  Notify
      the
      Company of all communications received by it with respect to any Property
      requiring action by the Company;

     

    (f)  Supply
      any
      necessary information or documents as may be requested by the Company in
      connection with the Company’s preparation of the tax returns for the Company and
      Trust Account;

     

    (g)  Participate
      in any plan or proceeding for protecting or enforcing any right or interest
      arising from the Property if, as and when instructed by the Company to do so;
      and

     

    (h)  Render
      to
      the Company and to such other person as the Company may instruct monthly written
      statements of the activities of and amounts in the Trust Account reflecting
      all
      receipts and disbursements of the Trust Account.

     

    2.  Agreements
      and Covenants of the Company.  The Company hereby agrees and
      covenants to:

     

    (a)  Give
      all
      instructions to the Trustee hereunder in writing, signed by the Company’s Chief
      Executive Officer or President.  In addition, except with respect to
      its duties under Paragraph 3, the Trustee shall be entitled to rely on, and
      shall be protected in relying on, any verbal or telephonic advice or instruction
      which it in good faith believes to be given by any one of the persons authorized
      above to give written instructions, provided that the Company shall
      promptly confirm such instructions in writing;

     

    (b)  Hold
      the
      Trustee harmless and indemnify the Trustee from and against any and all
      expenses, including reasonable counsel fees and disbursements, or loss suffered
      by the Trustee in connection with any action, suit or other proceeding brought
      against the Trustee involving any claim, or in connection with any claim or
      demand which in any way arises out of or relates to this Agreement, the services
      of the Trustee hereunder, or the Property or any income earned from investment
      of the Property, except for expenses and losses resulting from the Trustee’s
      gross 

     

    
      
        
        

      

      
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    negligence
      or willful misconduct.  Promptly after the receipt by the Trustee of
      notice of demand or claim or the commencement of any action, suit or proceeding,
      pursuant to which the Trustee intends to seek indemnification under this
      Paragraph, it shall notify the Company in writing of such claim (hereinafter
      referred to as the “Indemnified Claim”).  The Company shall have the
      right to conduct and manage the defense against such Indemnified Claim,
provided that the Company shall obtain the consent of the Trustee with
      respect to the selection of counsel, which consent shall not be unreasonably
      withheld.  The Company may not agree to settle any Indemnified Claim
      without the prior written consent of the Trustee, which consent shall not be
      unreasonably withheld.  The Trustee may participate in such action
      with its own counsel at its own expense;

     

    (c)  Pay
      the
      Trustee a fee of $3,000 for its services as Trustee at the consummation of
      the
      IPO (separately and in addition to making payments to the Trustee of a monthly
      fee of $1,000 for transfer agent services, of a one-time fee of $2,500 for
      warrant agent services and a closing fee of $3,500 in accordance with the terms
      of a separate fee letter delivered to the Company on November  6,
      2006, as subsequently amended from time to time).  The Company shall
      not be responsible for any other fees or charges of the Trustee except as may
      be
      provided in Paragraph 2(b) hereof;

     

    (d)   Within
      five business days after the Representative’s over-allotment option (or any
      unexercised portion thereof) expires or is exercised in full, provide the
      Trustee with a notice in writing (with a copy to the Representative) of the
      total amount of the Deferred Discount, which shall in no event be less than
      $5,400,000; and

     

    (e)  In
      connection with any vote of the Company’s stockholders on whether to approve an
      Initial Business Combination, provide to the Trustee an affidavit or certificate
      of a firm regularly engaged in the business of soliciting proxies and tabulating
      stockholder votes (which firm may be the Trustee) verifying the vote of the
      Company’s stockholders regarding such Initial Business Combination.

     

    3.  Liquidation
      and Distribution of Trust Account Property.  The Trustee shall
      commence liquidation of the Trust Account only upon receipt of, and only in
      accordance with the terms of, a letter in form substantially similar to that
      attached hereto as either Exhibit A or Exhibit B (a “Termination Letter”),
      signed on behalf of the Company by its Chief Executive Officer and affirmed
      by
      the Chairman or Vice Chairman of the Board of Directors, and complete the
      liquidation of the Trust Account and distribute the Property in the Trust
      Account only as directed in the Termination Letter and any other documents
      referred to therein; provided, however, that the Trustee shall disburse
      such funds from the Trust Account (i) from time to time as may be necessary
      timely to pay any taxes incurred as a result of interest or other income earned
      on the Property held in the Trust Account, only upon receipt and in accordance
      with the terms of a letter in form substantially similar to that attached hereto
      as Exhibit C (a “Tax Disbursement Letter”), signed on behalf of the Company by
      its Chief Executive Officer or President and copied to Authorized Counsel,
      as
      evidenced by his or her countersignature thereto, and complete the disbursement
      of funds from the Trust Account and distribute such funds only as directed
      in
      the Tax Disbursement Letter and any other documents referred to therein, and
      (ii) from time to time, only upon receipt and in accordance with the terms
      of a
      letter in form substantially similar to that attached hereto as Exhibit D (a
      “Disbursement Letter”), signed on behalf of the Company by its Chief Executive
      Officer or President and copied to Authorized Counsel, as evidenced by his
      or
      her countersignature thereto, the Trustee shall disburse to the Company such
      amount as may be requested by the Company as directed in the Disbursement Letter
      and the other documents referred to therein, provided, however, that
      the aggregate amount distributed by the Trustee to the Company pursuant to
      this
      Paragraph 3(ii) may not exceed the lesser 

     

    
      
        
        

      

      
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    of
      (y) the
      aggregate amount of interest and any other income actually received or paid
      on
      amounts in the Trust Account less an amount equal to estimated taxes that are
      or
      will be due on such income at an assumed rate of 40% and (z)
      $2,400,000.  In addition, if as of the date of a Termination Letter in
      form attached hereto as Exhibit B, should the Company have received the full
      amount of its disbursements pursuant to the preceding sentence, and should
      such
      funds be insufficient to cover the Company’s costs and expenses incurred in
      connection with the adoption and implementation of its plan of dissolution
      and
      its liquidation, to the extent that there is any interest accrued in the Trust
      Account not required to be used to pay income taxes on interest income earned
      on
      the Trust Account balance, the Company may request in the Termination Letter
      that the Trustee release to it an additional amount of up to $75,000 of such
      accrued interest to pay costs and expenses incurred in connection with its
      dissolution and liquidation.

     

    For
      purposes of this Agreement, “Authorized Counsel” shall mean, at any date, the
      attorney retained and authorized by the Company to perform such
      functions.

     

    4.  Limitations
      of Liability.  The Trustee shall have no responsibility or
      liability to:

     

    (a)  Take
      any
      action with respect to the Property, other than as directed in Paragraphs 1
      and
      3 hereof, and the Trustee shall have no liability to any party except for
      liability arising out of its own gross negligence or willful
      misconduct;

     

    (b)  Institute
      any proceeding for the collection of any principal and income arising from,
      or
      institute, appear in or defend any proceeding of any kind with respect to,
      any
      of the Property, unless and until it shall have received instructions from
      the
      Company given as provided herein to do so and the Company shall have advanced
      or
      guaranteed to it funds sufficient to pay any expenses incident
      thereto;

     

    (c)  Change
      the
      investment of any Property, other than in compliance with Paragraph
      1(c);

     

    (d)  Refund
      any
      depreciation in principal of any Property;

     

    (e)  Assume
      that the authority of any person designated by the Company to give instructions
      hereunder shall not be continuing unless provided otherwise in such designation,
      or unless the Company shall have delivered a written revocation of such
      authority to the Trustee;

     

    (f)  The
      Company or to anyone else for any action taken or omitted by it, or any action
      suffered by it to be taken or omitted, in good faith and in the exercise of
      its
      own best judgment, except for its gross negligence or willful
      misconduct.  The Trustee may rely conclusively and shall be protected
      in acting upon any order, notice, demand, certificate, opinion or advice of
      counsel (including counsel chosen by the Trustee), statement, instrument, report
      or other paper or document (not only as to its due execution and the validity
      and effectiveness of its provisions, but also as to the truth and acceptability
      of any information therein contained) which is believed by the Trustee, in
      good
      faith, to be genuine and to be signed or presented by the proper person or
      persons.  The Trustee shall not be bound by any notice or demand, or
      any waiver, modification, termination or rescission of this Agreement or any
      of
      the terms hereof, unless evidenced by a written instrument delivered to the
      Trustee signed by the proper party or parties and, if the duties or rights
      of
      the Trustee are affected, unless it shall give its prior written consent
      thereto;

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

       

    

    (g)  Verify
      the
      correctness of the information set forth in the Registration Statement or to
      confirm or assure that any acquisition made by the Company or any other action
      taken by it is as contemplated by the Registration Statement; and

     

    (h)  Subject
      to
      the requirements of Paragraph 3 of this Agreement, pay any taxes on behalf
      of
      the Trust Account to any governmental entity or taxing authority.

     

    5.  Termination.  This
      Agreement shall terminate as follows:

     

    (a)  If
      the
      Trustee gives written notice to the Company that it desires to resign under
      this
      Agreement, the Company shall use its reasonable efforts to locate a successor
      trustee.  At such time that the Company notifies the Trustee that a
      successor trustee has been appointed by the Company and has agreed to become
      subject to the terms of this Agreement, the Trustee shall transfer the
      management of the Trust Account to the successor trustee, including but not
      limited to the transfer of copies of the reports and statements relating to
      the
      Trust Account, whereupon this Agreement shall terminate (except with respect
      to
      Paragraph 2(b)); provided, however, that, in the event that the Company
      does not locate a successor trustee within 90 days of receipt of the resignation
      notice from the Trustee, the Trustee may submit an application to have the
      Property deposited with the United States District Court for the Southern
      District of New York and upon such deposit, the Trustee shall be immune from
      any
      liability whatsoever that arises due to any actions or omissions to act by
      any
      party after such deposit; or

     

    (b)  At
      such
      time that the Trustee has completed the liquidation of the Trust Account in
      accordance with the provisions of Paragraph 3 hereof and distributed the
      Property in accordance with the provisions of the Termination Letter, this
      Agreement shall terminate, except with respect to Paragraph 2(b).

     

    6.  Miscellaneous.

     

    (a)  The
      Company and the Trustee each acknowledge that the Trustee will follow the
      security procedures set forth below with respect to funds transferred from
      the
      Trust Account.  Upon receipt of written instructions, the Trustee will
      confirm such instructions with an Authorized Individual at an Authorized
      Telephone Number listed on the attached Exhibit E.  The Company and
      the Trustee will each restrict access to confidential information relating
      to
      such security procedures to authorized persons.  Each party must
      notify the other party immediately if it has reason to believe unauthorized
      persons may have obtained access to such information, or of any change in its
      authorized personnel.  In executing funds transfers, the Trustee will
      rely upon account numbers or other identifying numbers of a beneficiary,
      beneficiary’s bank or intermediary bank, rather than names.  The
      Trustee shall not be liable for any loss, liability or expense resulting from
      any error in an account number or other identifying number, provided it
      has accurately transmitted the numbers provided.

     

    (b)  This
      Agreement shall be governed by and construed and enforced in accordance with
      the
      laws of the State of New York.  It may be executed in several
      counterparts, each one of which shall constitute an original, and together
      shall
      constitute but one instrument.

     

    (c)  This
      Agreement contains the entire agreement and understanding of the parties hereto
      with respect to the subject matter hereof.  This Agreement or any
      provision hereof may be changed, waived, amended or modified only by a writing
      signed by each of the parties hereto, provided,

     

    
      
        
        

      

      
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    however,
      that no such amendment or modification
      (other than to correct a typographical or similar technical error) may be
      made to paragraphs 1, 2(e), 3, 4, 5, 6(c) or 6(g) or to Exhibits A or B hereof
      without the consent of the Public Stockholders, its being the specific intention
      of the parties hereto that each Public Stockholder is and shall be a third-party
      beneficiary of this paragraph 6(c) with the same right and power to enforce
      this
      paragraph 6(c) as either of the parties hereto, and provided, further,
      that this Agreement may not be changed, waived, amended or modified in such
      a
      manner as to adversely affect the right of the Underwriters to receive the
      Deferred Discount as contemplated herein without the written consent of the
      Representative.  For purposes of this paragraph 6(c), the “consent of
      the Public Stockholders” shall mean receipt by the Trustee of a certificate from
      an entity certifying that (i) such entity regularly engages in the business
      of
      serving as inspector of elections for companies whose securities are publicly
      traded, and (ii) either (a) 70% of the Public Stockholders of record as of
      a
      record date established in accordance with Section 213(a) of the Delaware
      General Corporation Law, as amended (the “DGCL”), have voted in favor of such
      amendment or modification or (b) 70% of the Public Stockholders of record as
      of
      a record date established in accordance with Section 213(b) of the DGCL have
      delivered to such entity a signed writing approving such amendment or
      modification.  As to any claim, cross-claim or counterclaim in any way
      relating to this Agreement, each party waives the right to trial by
      jury.

     

    (d)  The
      parties hereto consent to the jurisdiction and venue of any state or federal
      court located in the City of New York for purposes of resolving any disputes
      hereunder.

     

    (e)  Any
      notice, consent or request to be given in connection with any of the terms
      or
      provisions of this Agreement shall be in writing and shall be sent by express
      mail or similar private courier service, by certified mail (return receipt
      requested), by hand delivery or by facsimile transmission:

     

    if
      to the
      Trustee, to:

     

    American
      Stock Transfer & Trust Company

    59
      Maiden
      Lane

    Plaza
      Level

    New
      York,
      NY 10038

    Attn:
      Herb
      Lemmer, Vice President

    Fax
      No.:
      (718) 331-1852

     

    if
      to the
      Company, to:

     

    GSC
      Acquisition Company

    500
      Campus
      Drive, Suite 220

    Florham
      Park, NJ 07932

    Attn:
      Peter R. Frank, Chief Executive Officer

    Fax
      No.:
      (973) 593-5454

    in
      either
      case with a copy to:

     

    Davis
      Polk
& Wardwell

    450
      Lexington Avenue

    New
      York,
      New York 10017

    Attn:
      Deanna L. Kirkpatrick, Esq.

    Fax
      No.:
      (212) 450-4000

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

       

    

    (f)  No
      party
      hereto may assign this Agreement without the prior written consent of the other,
      which consent shall not be unreasonably withheld.

     

    (g)  Each
      of
      the Trustee and the Company hereby represents that it has the full right and
      power and has been duly authorized to enter into this Agreement and to perform
      its respective obligations as contemplated hereunder.  The Trustee
      acknowledges and agrees that it shall not make any claims or proceed against
      the
      Trust Account, including by way of set-off, and shall not be entitled to any
      funds in the Trust Account under any circumstance.

     

    (h)           The
      Trustee acknowledges and agrees that it is the specific intention of the parties
      hereto that the Representative is and shall be a third-party beneficiary of
      the
      provisions of this Agreement pertaining to the Deferred Discount (including
      Section 6(c)) and the Trustee’s obligations under this Agreement with respect
      thereto (but solely of those provisions and solely with respect to such
      obligations of the Trustee) with the same right and power to enforce those
      provisions as either of the parties hereto.

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    

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

     

    
      	 	
              AMERICAN STOCK
                TRANSFER & TRUST 

              COMPANY, as
                Trustee

            	 
	 	 	 	 
	 	 	 	 
	
               

            	
              By:
                

            	/s/ Herbert
              J. Lemmer	 
	 	 	Name: 
              Herbert J. Lemmer	 
	 	 	Title:   
              Vice President	 
	 	 	 	 

    

    
       

      
        	 	
                GSC ACQUISITION
                  COMPANY

              	 
	 	 	 	 
	 	 	 	 
	
                 

              	
                By:
                  

              	/s/ Peter
                R. Frank	 
	 	 	Name:  Peter
                R. Frank	 
	 	 	Title:    
                Chief Executive Officer	 
	 	 	 	 

      

       

      
        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

    

    

     

    EXHIBIT
      A

     

    [Letterhead
      of Company]

     

    [Insert
      date]

     

    American
      Stock Transfer

      &
      Trust Company

    59
      Maiden
      Lane

    Plaza
      Level

    New
      York,
      New York 10038

    Attn:
      Herb
      Lemmer, Vice President

     

    Re:  Trust
      Account No.
      [                  ]
      Termination Letter

     

    Ladies
      and
      Gentlemen:

     

    Pursuant
      to Paragraph 3 of the Investment Management Trust Agreement between GSC
      Acquisition Company (the “Company”) and American Stock Transfer & Trust
      Company (the “Trustee”), dated as of June 25, 2007 (the “Trust Agreement”), this
      is to advise you that the Company has entered into an agreement with
                
to consummate an Initial Business Combination (as defined in the Trust
      Agreement) on or about [insert date].  The Company shall
      notify you at least 48 hours in advance of the actual date of the consummation
      of the Initial Business Combination (the “Consummation
      Date”).  Capitalized terms used but not defined herein shall have the
      meanings given them in the Trust Agreement.

     

    Pursuant
      to Paragraph 2(e) of the Trust Agreement, we are providing you with [an
      affidavit] [a certificate] of
                
verifying the vote of the Company’s stockholders duly approving the Initial
      Business Combination in accordance with the terms of the Company’s Amended and
      Restated Certificate of Incorporation.  The [affidavit] [certificate]
      includes the identities of the Public Stockholders who voted against the Initial
      Business Combination and properly exercised their conversion rights in
      connection therewith.

     

    In
      accordance with the terms of the Trust Agreement, we hereby instruct you to
      commence liquidation of the Trust Account so that on the Consummation Date,
      all
      funds held in the Trust Account will be immediately available for transfer
      to
      the account or accounts that the Company shall direct.

     

    On
      the
      Consummation Date: (i) counsel for the Company shall deliver to you written
      notification that the Initial Business Combination has been consummated, (ii)
      the Company shall deliver to you written instructions with respect to the
      transfer of the funds held in the Trust Account other than the Deferred Discount
      (the “Instruction Letter”) and (iii) the Representative shall deliver to you
      written instructions for delivery of the Deferred Discount.  You are
      hereby directed and authorized to transfer the funds held in the Trust Account
      immediately upon your receipt of written notice from counsel and the Instruction
      Letter, (a) to Public Stockholders who exercised their conversion rights in
      connection with the Initial Business Combination, in an amount equal to their
      

     

    
      
        
        

      

      
        A-1

        
          

        

      

      
        
        

      

    

     

    pro
      rata
      share of the amounts in the Trust Account as of two business days prior to
      the
      Consummation Date (including the Deferred Discount and any income actually
      received on the Trust Account balance and held in the Trust Account, but less
      an
      amount equal to estimated taxes that are or will be due on such income at an
      assumed rate of 40%); (b) to the Representative in an amount equal to the
      Deferred Discount as so directed by them, and (c) the remainder in accordance
      with the terms of the Instruction Letter.  In the event that certain
      deposits held in the Trust Account may not be liquidated by the Consummation
      Date without penalty, you will notify the Company of the same, and the Company
      shall direct you as to whether such funds should remain in the Trust Account
      and
      be distributed after the Consummation Date to the Company or be distributed
      immediately and the penalty incurred.  Upon the distribution of all
      the funds in the Trust Account pursuant to the terms hereof, the Trust Agreement
      shall be terminated.

     

    In
      the
      event that the Initial Business Combination is not consummated on the
      Consummation Date and we have not notified you on or before the Consummation
      Date of a new date for consummation of the Initial Business Combination that
      is
      to take place within 3 (three) business days of the Consummation Date, then
      the
      funds held in the Trust Account shall be reinvested as provided in Paragraph
      1(c) of the Trust Agreement on the business day immediately following the
      Consummation Date.

     

    
      	 	Very
              truly yours,	 
	 	 	 
	 	 	 
	 	
              GSC ACQUISITION
                COMPANY

            	 
	 	 	 	 
	 	 	 	 
	
               

            	
              By:
                

            	 	 
	 	 	[NAME]	 
	 	 	Chief
              Executive Officer	 
	 	 	 	 

       

       

      
        	 	
                AFFIRMED:

              	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	
                 

              	 	 
	 	[NAME]	 
	 	Chairman
                of the Board of Directors	 
	 	 	 

      

       

      
        
          A-2

        

        
          
          

          
            

          

        

        
          
          

        

      

    

     

     

    EXHIBIT
      B

     

    [Letterhead
      of Company]

     

    [Insert
      date]

     

    American
      Stock Transfer

    &
      Trust Company

    59
      Maiden
      Lane

    Plaza
      Level

    New
      York,
      New York 10038

    Attn:
      Herb
      Lemmer, Vice President

     

    Re:  Trust
      Account No.
      [                  ]
      Termination Letter

     

    Ladies
      and
      Gentlemen:

     

    Pursuant
      to Paragraph 3 of the Investment Management Trust Agreement between GSC
      Acquisition Company (the “Company”) and American Stock Transfer & Trust
      Company dated as of June 25, 2007 (the “Trust Agreement”), this is to advise you
      that the Company’s existence expired in accordance with the terms of its Amended
      and Restated Certificate of Incorporation on [date]
and the Company is proceeding to dissolve and liquidate.
      Capitalized terms used but not defined herein shall have the meanings given
      them
      in the Trust Agreement.

     

    In
      accordance with the terms of the Trust Agreement, we hereby authorize and
      request that you[: (i) to the extent that there is any interest accrued in
      the
      Trust Account not required to be used to pay income taxes on interest income
      earned on the Trust Account balance in accordance with the Tax Disbursement
      Letter included herewith, which provides a full accounting of Tax Payments
      (as
      defined therein) made by the Company through the date of this letter but not
      yet
      reimbursed by distributions from the Trust, release to us an amount of $______
      (which amount shall not exceed $75,000) to pay costs and expenses incurred
      in
      connection with its dissolution and liquidation; and (ii)] commence liquidation
      of the Trust Account as part of the Company’s plan of dissolution and
      distribution.  In connection with this liquidation, you are hereby
      authorized to establish a record date for the purposes of determining the
      stockholders of record entitled to receive their per share portion of the Trust
      Account.  The record date shall be within ten (10) days of the
      liquidation date, or as soon thereafter as is practicable.  You will
      notify the Company in writing as to when all of the funds in the Trust Account
      will be available for immediate transfer (the “Transfer Date”) in accordance
      with the terms of the Trust Agreement and the Amended and Restated Certificate
      of Incorporation of the Company.

     

    You
      shall
      commence distribution of such funds in accordance with the terms of the Trust
      Agreement and the Amended and Restated Certificate of Incorporation of the
      Company and you shall oversee the distribution of the funds.

     

    
      
        
        

      

      
        B-1

        
          

        

      

      
        
        

      

       

    

    Upon
      the
      payment of all the funds in the Trust Account, the Trust Agreement shall be
      terminated. 
       

      
        	 	Very
                truly yours,	 
	 	 	 
	 	 	 
	 	
                GSC ACQUISITION
                  COMPANY

              	 
	 	 	 	 
	 	 	 	 
	
                 

              	
                By:
                  

              	 	 
	 	 	[NAME]	 
	 	 	Chief
                Executive Officer	 
	 	 	 	 

         

         

        
          	 	
                  AFFIRMED:

                	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	
                   

                	 	 
	 	[NAME]	 
	 	Chairman
                  of the Board of Directors	 
	 	 	 

        

         

      

    

     

    
      
        
        

      

      
        B-2

        
          

        

      

      
        
        

      

    

    

    EXHIBIT
      C

    [Letterhead
      of Company]

    

    [Insert
      date]

    

    

    American
      Stock Transfer

    &
      Trust Company

    59
      Maiden
      Lane

    Plaza
      Level

    New
      York,
      New York 10038

    Attn:
      Herb
      Lemmer, Vice President

     

    Re:  Trust
      Account No.
      [                  ]
      Tax Disbursement Letter

     

    Ladies
      and
      Gentlemen:

     

    Pursuant
      to the Investment Management Trust Agreement between GSC Acquisition Company
      (the “Company”) and American Stock Transfer & Trust Company dated as of June
      25, 2007 (the “Trust Agreement”), this is to advise you that the Trust Account,
      as defined in the Trust Agreement, has incurred a total of
      $_____________________ in taxes (the “Tax Payments”) for the period from
      ________ __, 200__ to ________ __, 200__ (the “Tax Period”) as a result of
      interest and other income earned on the Property, as defined in the Trust
      Agreement, during the Tax Period.

     

    In
      accordance with the terms of the Trust Agreement, we hereby authorize you to
      distribute from the Trust Account proceeds from the Property equal to the
      aggregate Tax Payments on such dates, in such amounts and to such payees as
      indicated on the Schedule of Tax Payments attached hereto as Schedule 1. 
       

      
        	 	Very
                truly yours,	 
	 	 	 
	 	
                GSC ACQUISITION
                  COMPANY

              	 
	 	 	 	 
	 	 	 	 
	
                 

              	
                By:
                  

              	 	 
	 	 	[NAME]	 
	 	 	[Title]	 
	 	 	 	 

         

        
          	 	
                  Authorized
                    Counsel Signatory:

                	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	
                  By:
                    

                	 	 
	 	[NAME]	 
	 	 	 
	 	 	 

        

         

        
          
            
            

          

          
            C-1

            
              

            

          

          
            
            

          

        

      

    

    

     

    SCHEDULE
      1

     

    SCHEDULE
      OF TAX PAYMENTS

     

    

    
      	
              [Payee]

            
	
              Payment
                Date:

            	 
	
              Amount:

            	 
	
              Address:

            	 
	 	 
	 	 
	 	 
	 	 
	
              [Payee]

            
	
              Payment
                Date:

            	 
	
              Amount:

            	 
	
              Address:

            	 
	 	 
	 	 
	 	 
	 	 
	 	 
	
              [Payee]

            
	
              Payment
                Date:

            	 
	
              Amount:

            	 
	
              Address:

            	 
	 	 
	 	 
	 	 
	 	 
	 	 

    

    

    
      
        
        

      

      
        C-2

        
          

        

      

      
        
        

      

       

    

    EXHIBIT
      D

    [Letterhead
      of Company]

    

    [Insert
      date]

    

    

    American
      Stock Transfer

    &
      Trust Company

    59
      Maiden
      Lane

    Plaza
      Level

    New
      York,
      New York 10038

    Attn:
      Herb
      Lemmer, Vice President

     

    Re:  Trust
      Account No.
      [                  ]
      Disbursement Letter

     

    Ladies
      and
      Gentlemen:

     

    Pursuant
      to Section 3(ii) of the Investment Management Trust Agreement between GSC
      Acquisition Company (the “Company”) and American Stock Transfer & Trust
      Company dated as of June 25, 2007 (the “Trust Agreement”), we hereby authorize
      you to disburse from the Trust Account proceeds from the Property, as defined
      in
      the Trust Agreement, equal to $_______________, to __________________ via wire
      transfer on ____________, 200_. 
       

      
        	 	Very
                truly yours,	 
	 	 	 
	 	
                GSC ACQUISITION
                  COMPANY

              	 
	 	 	 	 
	 	 	 	 
	
                 

              	
                By:
                  

              	 	 
	 	 	[NAME]	 
	 	 	[Title]	 
	 	 	 	 

      

       

    

    
       

      
        	 	
                Authorized
                  Counsel Signatory:

              	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	
                By:
                  

              	 	 
	 	[NAME]	 
	 	 	 
	 	 	 

      

       

    
      
         

      

      
        D-1

        
          

        

      

      
         

      

    

     

    EXHIBIT
      E

     

    
      	
              
                AUTHORIZED
                  INDIVIDUAL(S)

                FOR
                  TELEPHONE CALL BACK

              

            	 	
              
                AUTHORIZED

                TELEPHONE
                  NUMBER(S)

              

            
	 	 	 
	
              Company:

            	 	 
	 	 	 
	
              GSC
                Acquisition Company

              500
                Campus Drive, Suite 220

              Florham
                Park, NJ 07932

            	 	 
	 	 	 
	
              Attn:
                Peter R. Frank, Chief Executive Officer

            	 	
              (973)
                593-5474

            
	
              Attn:
                Matthew C. Kaufman, President

            	 	
              (212)
                884-6202

            
	 	 	 
	
              Trustee:

            	 	 
	 	 	 
	
              American
                Stock Transfer & Trust Company

              59
                Maiden Lane

              Plaza
                Level

              New
                York, New York 10004

               

            	 	 
	
              Attn:
                Herb Lemmer, Vice President

            	 	
              (718)
                921-8209

            

    

     

     

     

    
 E-1EX-4.4

 

Exhibit 4.4

AMENDMENT TO THE PARTICIPATION AGREEMENT EXECUTED ON DECEMBER 18th, 1998 (THE
“AMENDMENT”), dated April 30th, 2007, entered into by the Federal Government of
the United Mexican States (hereinafter the “Federal Government”) through the Secretaría de
Comunicaciones y Transportes (Ministry of Communications and Transportation) (hereinafter,
“SCT”), Grupo Aeroportuario del Sureste, S.A.B. de C.V. (hereinafter the “Controlling
Company”), Servicios Aeroportuarios del Sureste, S.A. de C.V. (hereinafter the “Services
Company”), Aeropuerto de Cancún, S.A. de C.V., Aeropuerto de Cozumel, S.A. de C.V., Aeropuerto
de Huatulco, S.A. de C.V., Aeropuerto de Mérida, S.A. de C.V., Aeropuerto de Minatitlán, S.A. de
C.V., Aeropuerto de Oaxaca, S.A. de C.V., Aeropuerto de Tapachula, S.A. de C.V., Aeropuerto de
Veracruz, S.A. de C.V. and Aeropuerto de Villahermosa, S.A. de C.V. (hereinafter jointly, the
“Concessionaire Companies”) and Inversiones y Técnicas Aeroportuarias, S.A. de C.V.
(hereinafter the “Strategic Partner”); as well as by Mr. Fernando Gerardo Chico Pardo
(“Fernando Chico”) and Copenhagen Airports A/S (Kobenhavns Lufthavne A/S)
(“Copenhagen”, together with Mr. Fernando Chico, the “Owners of the Strategic
Partner”) in accordance with the following Precedents, Recitals and Clauses:

P R E C E D E N T S

	I.	 	On April 1st, 1998, Grupo Aeroportuario del Sureste, S.A. de C.V., was
incorporated as a variable capital corporation, as evidenced under notarized instrument number
44,125, dated April 1st, 1998, issued by Mr. Emiliano Zubiría Maqueo, Notary Public
No. 25 of the Federal District, whose first original was registered on April 30th,
1998 in the Public Registry of Commerce of the Federal District under commercial folio number
237658
	 
	II.	 	Article Ten of the bylaws of the Controlling Company absolutely restricted the taking of
control of the Controlling Company, providing the following:

ARTICLE TEN. Limits of Stock Ownership. The ownership interests of any person
in the Company’s capital stock will be subject to the following rules, provided such rules
will not apply to the ownership interests of (i) the Federal Government, (ii) Nacional
Financiera, S.N.C, whether directly or as trustee, (iii) institutions for the deposit of
securities, or (iv) financial entities or other authorized entities that obtain or maintain
securities on the account of third-party beneficiaries, provided that this exception is not
applicable to the stock ownership that each beneficiary has in the Company, whether
directly or indirectly:

1. No series “B” stockholder, whether individually or jointly with Related Persons, may hold
more than 10% (ten percent) of the total outstanding capital stock of the Company, unless
the provisions set forth under Articles Twelve or Fourteen below are fulfilled. Otherwise,
any action or agreement that results in a transfer of series “B” shares or that otherwise
causes any shareholder to surpass the abovementioned ownership percentage, whether
individually by any shareholder or jointly with Related Persons of such shareholder, will be
void and will have no legal effect before the Company.

2. Series “BB” shareholders will have no limitation as to individual ownership interests
whatsoever with respect to the shares that represent such series; however, such series will
only represent up to 15% (fifteen percent) of the outstanding capital stock in terms of the
provisions under Article Six of these bylaws.

3. Series “BB” shareholders may also hold series “B” shares, provided that so long as they
hold shares of stock that represent the series “BB”, they may only hold, directly or jointly
with Related Persons, a total ownership interest in the Company’s outstanding capital stock
that does not exceed, in the aggregate, 20% (twenty percent) of such outstanding capital
stock.

The ownership limits set forth in this article may not be surpassed neither directly nor
through Related Persons, trusts, agreements, corporate pacts or bylaws, pyramidal schemes or
any other mechanism that causes any ownership interest over the established limits.

For the purposes of this Article and these bylaws, a Related Person with respect to a
particular person means: (i) the person or persons, whether such are individuals or
entities, that directly or indirectly are under the Control of such particular person; that
have the direct or indirect ability to exercise Control over such particular person; or that
are under common Control with such particular person, as applicable; (ii) the persons that
have the ability to

 

 

determine the business policies of a particular person; (iii) if such particular person is
an individual, the individuals having a relationship (whether by blood or civil law, up to
and including the fourth degree) with such particular person; (iv) with respect to the
Company, the Strategic Partner; and (v) with respect to the Strategic Partner, its
shareholders and Related Persons (as defined in the other sections of this paragraph) of
such shareholders.

For the purposes of the preceding paragraph, “Control” means: (a) directly or indirectly
holding 20% (twenty percent) or more of the capital stock with voting rights of an entity;
(b) the ability to appoint the majority of the members of a board of directors or the
directors of an entity; (c) the right to veto the decisions of the majority of shareholders
or owners or the right to require their vote to adopt resolutions which, under law, pertain
to the ordinary shareholders’ meeting; or (d) the existence of business relationships that
represent 15% (fifteen percent) or more of the total annual consolidated income of a person.

	III.	 	On December 18th, 1998, the Participation Agreement was executed by the
Federal Government through the SCT, Nacional Financiera, Sociedad Nacional de Crédito,
Dirección Fiduciaria (hereinafter “Nafin”), the Controlling Company, the Services
Company, the Concessionaire Companies and the Strategic Partner; as well as by Triturados
Basálticos y Derivados, S.A. de C.V., Cintra Concesiones de Infraestructuras de Transporte,
S.A. and Groupe GTM, S.A. (which, on such date were the owners of the Strategic Partner) and
Copenhagen as Owner of the Strategic Partner, as joint obligors of the obligations of the
Strategic Partner, which are specifically mentioned in such agreement for each one of such
parties, and with the appearance of Banco Nacional de Comercio Exterior, Sociedad Nacional de
Crédito, División Fiduciaria (hereinafter the “Trustee”) and of Aeropuertos y
Servicios Auxiliares (hereinafter “ASA”) (as amended by virtue of the Amendment
agreements dated April 19th, 1999 and February 28th, 2000, hereinafter
the “Participation Agreement”).
	 
	IV.	 	Section 2.5 of the Participation Agreement, adopted such absolute limitation for the taking
of control (hereinafter the “Ownership Limits”).
	 
	V.	 	During the months of September 2000 and March 2005, through initial and secondary public
offerings, respectively, carried out simultaneously in the securities markets of the United
Mexican States and the United States of America, 85% of the capital stock of the Controlling
Company, represented by 255 million Series B shares was placed, through Nafin, among the
general investing public.
	 
	 	 	As a consequence of the foregoing, the Federal Government ceased to hold
ownership interests in the capital stock of the Controlling Company and such
Controlling Company became subject to the supervision of the National Banking and
Securities Commission (Comisión Nacional Bancaria y de Valores) and the Securities and
Exchange Commission of the United States of America.
	 
	VI.	 	On December 30th, 2005 the new Securities Market Law
(hereinafter the “NLMV”) was published, which provides under article
48 that any absolute restriction with respect to the taking of
control of a company will be void as a matter of law.

	 
	VII.	 	Such reform compelled the Controlling Company to amend its bylaws in
order to eliminate the restrictions for the taking of control of
Controlling Company.

	 
	VIII.	 	Such amendment was approved in a general extraordinary shareholders’
meeting of the Controlling Company held on April 27th,
2006, with the favorable vote of the shares that represented over
95% (ninety-five percent) of the capital stock of the Controlling
Company, as required under such bylaws.

	 
	IX.	 	The regulatory authorities and the investing public were promptly
informed of such shareholders’ meeting, in the terms of law, through
the corresponding Stock Exchanges.

2

 

	X.	 	Notwithstanding the foregoing, the restriction mentioned under section IV above subsists in
the Participation Agreement, which was established as a reflection of the provisions contained
under the bylaws of the Controlling Company prior to their amendment and that imposes an
absolute restriction to the taking of control of the Controlling Company, which is currently
prohibited by the Securities Market Law in effect in the United Mexican States.
	 
	XI.	 	In this sense, as a result of the amendments to the Securities Market Law and to the bylaws
of the Controlling Company, an amendment to Section 2.5 of the Participation Agreement is
considered necessary, in order to make it conform to the provisions that currently govern the
Controlling Company.

	In consideration of the foregoing, the parties grant the following:	 	 

R E C I T A L S

	(A)	 	The Federal Government, through its representative states and represents that:

	 	1.	 	It acknowledges to have executed, on December 18th, 1998 the
Participation Agreement.
	 
	 	2.	 	Derived, among others: (i) from the striking of the Ownership Limits from the
bylaws of the Controlling Company; (ii) from the provisions of the NLMV, and (iii) from
the request submitted by the Strategic Partner on April 27th, 2007, for this
purpose, it hereby appears to sign this instrument, acknowledging the need to amend the
Participation Agreement, among other matters, in order to eliminate the Ownership Limits
from such Participation Agreement.
	 
	 	3.	 	Its representative, in his capacity as Sub-secretary of Transportation, has the
necessary authority to execute this Amendment, in accordance with article 6, section IX,
of the Internal Regulations of the SCT.

	(B)	 	The Controlling Company, through its representative states and represents that:

	 	1.	 	It is a business entity incorporated in accordance with the laws of the United
Mexican States, as evidenced by notarized instrument number 44,125 dated April
1st, 1998, issued by Mr. Emiliano Zubiría Maqueo, Notary Public No. 25 of the
Federal District, whose first original was registered on April 30th, 1998 in
the Public Registry of Commerce of the Federal District under commercial folio 237658.
	 
	 	2.	 	It acknowledges that it executed the Participation Agreement on December
18th, 1998.
	 
	 	3.	 	Derived, among others: (i) from the striking of the Ownership Limits from the
bylaws of the Controlling Company, and (ii) from the provisions of the NLMV, it
acknowledges the need to amend the Participation Agreement, among other matters, in
order to eliminate the Ownership Limits from such Participation Agreement.
	 
	 	4.	 	To the best of its knowledge, the execution, performance and enforcement of this
Amendment, does not violate or breach: (i) any law, regulation or legal provision

3

 

	 	 	 	or (ii) its corporate bylaws or any contract, agreement or covenant to which it is a
party or otherwise, will not result in the acceleration of any of its obligations or in
the imposition of restrictions or limitations on the investments that the Grupo
Aeroportuario (Airport Group) must or wishes to make, in accordance with the Master
Development Plan referred under Article 38 of the Airports Law or the annual business
plan of the Controlling Company.
	 
	 	5.	 	It has submitted or presented all the notices and communications and has obtained
all authorizations and consents, including statutory, that may be necessary for the
execution, performance and enforcement of this Amendment and the actions provided
hereunder.
	 
	 	6.	 	Its legal representative has the necessary authority to execute this Amendment,
as evidenced by notarized instrument number 52,487, issued on May 10th, 1999,
by Mr. Luis de Angoitia Becerra, Notary Public No. 109 of the Federal District, whose
first original was registered on July 8th, 1999 in the Public Registry of
Commerce of the Federal District under commercial folio number 237658.

	(C)	 	Each of the Concessionaire Companies, through its representative states and represents that:

	 	1.	 	It is a business entity incorporated in accordance with the laws of the United
Mexican States.
	 
	 	2.	 	It acknowledges that it executed the Participation Agreement on December
18th, 1998.
	 
	 	3.	 	Derived, among others: (i) from the striking of the Ownership Limits from the
bylaws of the Controlling Company, and (ii) from the provisions of the NLMV, it
acknowledges the need to amend the Participation Agreement, among other matters, in
order to eliminate the Ownership Limits from such Participation Agreement.
	 
	 	4.	 	To the best of its knowledge, the execution, performance and enforcement of this
Amendment, does not violate or breach: (i) any law, regulation or legal provision or
(ii) its corporate bylaws or any contract, agreement or covenant to which it is a party
or otherwise, will not result in the acceleration of any of its obligations or in the
imposition of restrictions or limitations on the investments that the Grupo
Aeroportuario (Airport Group) must or wishes to make, in accordance with the Master
Development Plan referred under Article 38 of the Airports Law or the annual business
plan of the Controlling Company.
	 
	 	5.	 	It has submitted or presented all the notices and communications and has obtained
all authorizations and consents, including statutory, that may be necessary for the
execution, performance and enforcement of this Amendment and the actions provided
hereunder.
	 
	 	6.	 	Its legal representative has the necessary authority to execute this Amendment,
in terms of the following notarized instruments, all of which were issued on

4

 

	 	 	August 13th, 1999 by Mr. Luis de Angoitia Becerra, Notary Public No. 109 of
the Federal District:

	 	(a)	 	Notarized Instrument number 52,812 relative to Aeropuerto de Cancún,
S.A. de C.V.
	 
	 	(b)	 	Notarized Instrument number 52,813 relative to Aeropuerto de Cozumel,
S.A. de C.V.
	 
	 	(c)	 	Notarized Instrument number 52,816 relative to Aeropuerto de Huatulco,
S.A. de C.V.
	 
	 	(d)	 	Notarized Instrument number 52,817 relative to Aeropuerto de Mérida,
S.A. de C.V.
	 
	 	(e)	 	Notarized Instrument number 52,818 relative to Aeropuerto de
Minatitlán, S.A. de C.V.
	 
	 	(f)	 	Notarized Instrument number 52,819 relative to Aeropuerto de Oaxaca,
S.A. de C.V.
	 
	 	(g)	 	Notarized Instrument number 52,820 relative to Aeropuerto de Tapachula,
S.A. de C.V.
	 
	 	(h)	 	Notarized Instrument number 52,821 relative to Aeropuerto de Veracruz,
S.A. de C.V.
	 
	 	(i)	 	Notarized Instrument number 52,822 relative to Aeropuerto de
Villahermosa, S.A. de C.V.

	(D)	 	The Services Company, through its representative states and represents that:

	 	1.	 	It is a business entity incorporated in accordance with the laws of the United
Mexican States, as evidenced by notarized instrument number 44,126, issued on April
1st, 1998, by Mr. Emiliano Zubiría Maqueo, Notary Public number 25 of the
Federal District, whose first original was registered on April 30th, 1998 in
the Public Registry of Commerce of the Federal District under commercial folio number
237657.
	 
	 	2.	 	It acknowledges that it executed the Participation Agreement on December
18th, 1998.
	 
	 	3.	 	Derived, among others: (i) from the striking of the Ownership Limits from the
bylaws of the Controlling Company, and (ii) from the provisions of the NLMV, it
acknowledges the need to amend the Participation Agreement, among other matters, in
order to eliminate the Ownership Limits from such Participation Agreement.
	 
	 	4.	 	To the best of its knowledge, the execution, performance and enforcement of this
Amendment, does not violate or breach: (i) any law, regulation or legal provision or
(ii) its corporate bylaws or any contract, agreement or covenant to which it is a party
or otherwise, will not result in the acceleration of any of its obligations or in

5

 

	 	 	 	the imposition of restrictions or limitations on the investments that the Grupo
Aeroportuario (Airport Group) must or wishes to make, in accordance with the Master
Development Plan referred under Article 38 of the Airports Law or the annual business
plan of the Controlling Company.
	 	5.	 	It has submitted or presented all the notices and communications and has obtained
all authorizations and consents, including statutory, that may be necessary for the
execution, performance and enforcement of this Amendment and the actions provided
hereunder.
	 
	 	6.	 	Its legal representative has the necessary authority to execute this Amendment,
as evidenced by notarized instrument number 52,823, issued on August 13th,
1999, by Mr. Luis de Angoitia Becerra, Notary Public No. 109 of the Federal District,
whose first original was registered on October 6th, 1999 in the Public
Registry of Commerce of the Federal District under commercial folio number 237657.

	(E)	 	The Strategic Partner, through its representative states and represents that:

	 	1.	 	It is a business entity incorporated in accordance with the laws of the United
Mexican States, as evidenced by notarized instrument No. 63,899, dated November
16th, 1998, issued by Mr. Armando Gálvez Pérez Aragón, Notary Public No. 103
of the Federal District, whose first original was registered on December 3rd,
1998 in the Public Registry of Commerce of the Federal District, under commercial folio
number 242982.
	 
	 	2.	 	It acknowledges that it executed the Participation Agreement on December
18th, 1998.
	 
	 	3.	 	Derived, among others: (i) from the striking of the Ownership Limits from the
bylaws of the Controlling Company, and (ii) from the provisions of the NLMV, it
acknowledges the need to amend the Participation Agreement, among other matters, in
order to eliminate the Ownership Limits from such Participation Agreement.
	 
	 	4.	 	To the best of its knowledge, the execution, performance and enforcement of this
Amendment, does not violate or breach: (i) any law, regulation or legal provision or
(ii) its corporate bylaws or any contract, agreement or covenant to which it is a party
or otherwise, will not result in the acceleration of any of its obligations or in the
imposition of restrictions or limitations on the investments that the Grupo
Aeroportuario (Airport Group) must or wishes to make, in accordance with the Master
Development Plan referred under Article 38 of the Airports Law or the annual business
plan of the Controlling Company.
	 
	 	5.	 	It has submitted or presented all the notices and communications and has obtained
all authorizations and consents, including statutory, that may be necessary for the
execution, performance and enforcement of this Amendment and the actions provided
hereunder.
	 
	 	6.	 	Its legal representative has the necessary authority to execute this Amendment,
as evidenced by notarized instrument number 55,438, issued on May 31st, 2004,
by Mr. Jorge Fernando Caraza Pinto, Notary Public No. 36 of the Federal District,

6

 

	 	 	 	whose first original was registered in the Public Registry of Commerce of the Federal
District under commercial folio number 242982.

	(F)	 	The Owners of the Strategic Partner — Mr. Fernando Chico acting personally and Copenhagen
through its representative — state and represent that:

	 	1.	 	Copenhagen is a company incorporated and existing in accordance with the laws of
the Kingdom of Denmark, whose shares are traded in the Copenhagen Stock Exchange.
	 
	 	2.	 	Mr. Fernando Chico is a citizen and resident of the United Mexican States.
	 
	 	3.	 	Each one of such parties acknowledges to be bound by the Participation Agreement
dated December 18th, 1998.
	 
	 	4.	 	Each one of such parties acknowledges that derived, among others: (i) from the
striking of the Ownership Limits from the bylaws of the Controlling Company, and (ii)
from the provisions of the NLMV, it is necessary to amend the Participation Agreement,
among other matters, in order to eliminate the Ownership Limits from such Participation
Agreement
	 
	 	5.	 	To the best of their knowledge, the execution, performance and enforcement of
this Amendment, does not violate or breach: (i) any law, regulation or legal provision
or (ii) their corporate bylaws or any contract, agreement or covenant to which they are
a party or otherwise, will not result in the acceleration of any of their obligations or
in the imposition of restrictions or limitations on the investments that the Grupo
Aeroportuario (Airport Group) must or wishes to make, in accordance with the Master
Development Plan referred under Article 38 of the Airports Law or the annual business
plan of the Controlling Company.
	 
	 	6.	 	They have submitted or presented all the notices and communications and have
obtained all authorizations and consents, including statutory, that may be necessary for
the execution, performance and enforcement of this Amendment and the actions provided
hereunder.
	 
	 	7.	 	Copenhagen’s representative has the necessary authority to execute this
Amendment.

          BY VIRTUE OF WHICH, considering the foregoing Precedents and Recitals, the parties to this
Amendment agree on the following:

C L A U S E S

     ONE.- Capitalized terms used in this Amendment that are not otherwise defined in this
Amendment will have the meanings attributed to such terms in the Participation Agreement.

     TWO.- The Federal Government, the Controlling Company, the Services Company, the
Concessionaire Companies, the Strategic Partner, and the Owners of the Strategic

7

 

Partner, hereby agree to amend Section 2.5 of the Participation Agreement, in the terms set
forth below:

2.5 Ownership Limit. The shareholders of series “BB”
will not have an ownership limit with respect to such series,
however, series “BB” may only represent 15% (fifteen percent)
of the capital stock.

     THREE.- Except for the amendments to the Participation Agreement provided under this
Amendment, the Participation Agreement is ratified in all its terms. This Amendment will be
governed by and interpreted in accordance with the federal laws of the United Mexican States and
the parties expressly and irrevocably submit to the jurisdiction of the competent courts of Mexico
City, Federal District, United Mexican States, expressly waiving any other jurisdiction they could
be entitled to by reason of their current or future domiciles or for any other cause.

     IN ACCORDANCE WITH THE FOREGOING, the parties sign this Amendment through their
representatives on the date first written above.

8

 

[Signature Page]

Amendment dated April 30th, 2007, to the Participation Agreement

Federal Government of the United Mexican Status, through the Ministry of

Communications and Transportation

/s/ Manuel Rodríguez Arregui 

By: Mr. Manuel Rodríguez Arregui

Position: Transportation Sub-secretary

9

 

[Signature Page]

Amendment dated April 30th, 2007 to the Participation Agreement

	 	 	 
	Grupo Aeroportuario del Sureste,
S.A.B. de C.V.

	 	Servicios Aeroportuarios del Sureste,
S.A. de C.V.
	 
	 	 
	 
	 	 
	/s/ Claudio Góngora Morales

	 	/s/ Claudio Góngora Morales
	By: Claudio Góngora Morales

	 	By: Claudio Góngora Morales
	Position: Attorney in Fact

	 	Position: Attorney in Fact
	 
	 	 
	Aeropuerto de Cancún, S.A. de C.V.

	 	Aeropuerto de Cozumel, S.A. de C.V.
	 
	 	 
	 
	 	 
	/s/ Claudio Góngora Morales

	 	/s/ Claudio Góngora Morales
	By: Claudio Góngora Morales

	 	By: Claudio Góngora Morales
	Position: Attorney in Fact

	 	Position: Attorney in Fact
	 
	 	 
	Aeropuerto de Huatulco, S.A. de C.V.

	 	Aeropuerto de Mérida, S.A. de C.V.
	 
	 	 
	 
	 	 
	/s/ Claudio Góngora Morales

	 	/s/ Claudio Góngora Morales
	By: Claudio Góngora Morales

	 	By: Claudio Góngora Morales
	Position: Attorney in Fact

	 	Position: Attorney in Fact
	 
	 	 
	Aeropuerto de Minatitlán, S.A. de C.V.

	 	Aeropuerto de Oaxaca, S.A. de C.V.
	 
	 	 
	 
	 	 
	/s/ Claudio Góngora Morales

	 	/s/ Claudio Góngora Morales
	By: Claudio Góngora Morales

	 	By: Claudio Góngora Morales
	Position: Attorney in Fact

	 	Position: Attorney in Fact
	 
	 	 
	Aeropuerto de Tapachula, S.A. de C.V.

	 	Aeropuerto de Veracruz, S.A. de C.V
	 
	 	 
	 
	 	 
	/s/ Claudio Góngora Morales

	 	/s/ Claudio Góngora Morales
	By: Claudio Góngora Morales

	 	By: Claudio Góngora Morales
	Position: Attorney in Fact

	 	Position: Attorney in Fact
	 
	 	 
	Aeropuerto de Villahermosa, S.A. de C.V.
	 	 
	 
	 	 
	 
	 	 
	/s/ Claudio Góngora Morales	 	 
	By: Claudio Góngora Morales
	 	 
	Position: Attorney in Fact
	 	 

10

 

[Signature Page]

Amendment dated April 30th, 2007 to the Participation Agreement

Inversiones y Técnicas Aeroportuarias, S.A. de C.V.

/s/ Federico Chávez Peón Mijares 

By: Federico Chávez Peón Mijares

Position: Attorney in Fact

Mr. Fernando Gerardo Chico Pardo

/s/ Fernando Gerardo Chico Pardo 

Personally

11

 

[Signature Page]

Amendment dated April 30th, 2007 to the Participation Agreement

Copenhagen Airports A/S (Kobenhavns

Lufthavne A/S)

/s/ Torben Thyregod 

By: Torben Thyregod, Deputy CEO

Position: Attorney in Fact

12

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