Document:

Exhibit 4.2 

CONTRACTUAL
RIGHTS AGREEMENT

          This
Contractual Rights Agreement (this “Agreement”) is entered into by and
between Foxkirk, LLC, a Delaware limited liability company (“Foxkirk”),
and WCAS Capital Partners IV, L.P, (“WCAS”) as of this 1st
day of August, 2006.  

          WHEREAS,
WCAS holds an approximately 55.5556% interest (the “WCAS Interest”) and
Foxkirk holds an approximately 44.4444% interest (the “Foxkirk Interest”)
in the aggregate $90,000,000 of Subordinated Notes due 2015 dated as of the
date hereof (the “Mezzanine Notes”) issued by MSG WC Holdings Corp. (the
“Debtor”); 

          WHEREAS,
Foxkirk acquired the Foxkirk Interest pursuant to the Note Purchase Agreement
dated as of the date hereof between the Debtor and Foxkirk as a Purchaser party
thereto (the “Purchase Agreement”) and, as part of the consideration in
connection with the acquisition of the Foxkirk Interest and as condition
precedent to the effectiveness thereof, Foxkirk has agreed that, until a
Termination Event has occurred and is continuing, and subject to the terms
hereof, WCAS will be solely entitled and authorized and shall have, to the
exclusion of Foxkirk, the sole right to exercise all necessary, required or
desirable actions, and have sole power and control to act vis-à-vis the Debtor
in any and all matters related to the Mezzanine Notes (all such matters and any
indebtedness created pursuant to the Mezzanine Notes and the Purchase
Agreement, the “Mezzanine Indebtedness”), as determined by WCAS in its
sole discretion and business judgment pursuant to the terms and conditions
hereof;

          WHEREAS,
terms used and not otherwise defined herein shall have the meaning given to
them in the Purchase Agreement;

          THEREFORE,
in consideration of the provisions and obligations hereunder, and for other
good and valuable consideration, the sufficiency and receipt of which is hereby
acknowledged, Foxkirk and WCAS agree as follows:

	
 

	
 

	
1.

	
WCAS’s EXCLUSIVE CONTRACTUAL RIGHTS.

          (a)
Subject to the terms hereof, Foxkirk hereby irrevocably consents, authorizes
and instructs WCAS to exercise any and all rights, and undertake any and all
necessary, required or desirable actions, including such actions that Foxkirk
would otherwise be entitled to take, and agrees that WCAS shall have sole power
and control, to the exclusion of Foxkirk, to act vis-à-vis the Debtor in any
and all matters related to the Mezzanine Indebtedness, until such time as a
Termination Event (as defined below) has occurred and is continuing.

          Accordingly,
subject to the terms hereof, WCAS shall have the sole and exclusive right, to
the exclusion of Foxkirk, to manage, perform and enforce the terms and
conditions of the Mezzanine Indebtedness, and to exercise all privileges and
rights thereunder according to its sole

discretion and the exercise of its business judgment,
together with such other actions and powers as are reasonably incidental
thereto.

          Without
limiting the generality of the foregoing, subject to clause (b) of this Section
1, WCAS is hereby expressly and irrevocably empowered, authorized and instructed
by Foxkirk to:

          (i)
execute any and all documents (including, subject to the terms hereof, any
amendments to the Mezzanine Notes and the Purchase Agreement) with respect to
the Mezzanine Indebtedness and to exercise any and all rights and privileges of
Foxkirk with respect thereto;

          (ii)
manage, perform, administer and enforce the terms and conditions of the
Mezzanine Notes and the Purchase Agreement, and exercise or refrain from
exercising (including negotiating and granting waivers) any rights against any
person (including the Debtor);

          (iii)
exercise any and all voting rights of Foxkirk as a holder of the Foxkirk
Interest;

          (iv)
negotiate and agree with the Debtor on waivers to the terms and conditions of
the Mezzanine Indebtedness;

          (iv)
change the manner, place, terms or time of payment of the Mezzanine Notes; and

          (v)
sell, exchange, release or otherwise deal with property, if any, pledged,
mortgaged or otherwise securing the Mezzanine Indebtedness

          (b)
Notwithstanding the foregoing Section l(a), without the prior written consent
of Foxkirk, WCAS shall not:

          (i)
change any of the provisions of the sixth paragraph of the Mezzanine Notes with
respect to Catch-up Payments,

          (ii)
agree to any amendment or waiver to the Purchase Agreement or the Mezzanine
Notes which (x) decreases the rate of interest or changes the method of
computation or capitalization of interest on the Mezzanine Notes, (y) decreases
the amount of redemption premium or principal due pursuant to the terms of the
Purchase Agreement and the Mezzanine Notes, or (z) extends the time for payment
of interest or redemption premium on, or principal of the Mezzanine Notes; provided,
however, that (A) the foregoing shall not affect the rights of the
Debtor to capitalize interest at any time prior to the Maturity Date pursuant
to the fourth paragraph of the Mezzanine Notes, and (B) WCAS shall be permitted
in its sole discretion and on behalf of Foxkirk to extend the Maturity Date of
the Mezzanine Notes until no later than February 1, 2016;

          (iii)
change the percentage of principal amount of the Mezzanine Notes the holders of
which are required to consent to any such amendment or waiver pursuant to the
Note Purchase Agreement; or

          (iv)
amend any of Sections 4.6, 7.l(a) or 7.l(b) of the Purchase Agreement,

2

	
 

	
 

	
2.

	
WCAS’S ACTIONS IN RESPECT OF WCAS
  INTEREST AND FOXKIRK INTEREST.

          WCAS
shall exercise any and all rights and actions hereunder in a manner such that
its rights and actions affect the WCAS Interest and the Foxkirk Interest in a
consistent, similarly beneficial or detrimental manner.

	
 

	
 

	
3.

	
NO FIDUCIARY OR IMPLIED OBLIGATIONS.

          WCAS
shall have no duties or obligations except those expressly set forth herein.
Without limiting the generality of the foregoing, (a) WCAS shall not be subject
to any Fiduciary or other implied duties, regardless of whether a Default and
Event of Default, a “Default” (as defined in the Senior Credit Agreement), a
Senior Credit Event of Default (as defined below) and/or a Termination Event
has occurred and is continuing, (b) WCAS shall have no duty to take any
discretionary action or exercise any discretionary powers, and (c) WCAS shall
have no duty to disclose, nor shall it be liable for the failure to disclose,
any information relating to the Debtor or any of its subsidiaries that is
communicated to or obtained by WCAS or any of its affiliates in any capacity.
WCAS may consult with legal counsel (who may be counsel to the Debtor or to
WCAS), independent accountants and other experts selected by it, and shall not
be liable for any action taken or not taken by it in accordance with the advice
of any such counsel, accountants or experts.

          Under
no circumstance whatsoever shall WCAS be liable for any amounts owed pursuant
to the Mezzanine Indebtedness.

	
 

	
 

	
4.

	
RESTRICTION ON TRANFER.

          Until
such time as WCAS and/or any Affiliate thereof ceases to hold the WCAS
Interest, Foxkirk may not sell, transfer, convey, pledge, create liens or
security interests, or otherwise grant any interest in the Foxkirk Interest
other than with WCAS’s prior written consent (which may be withheld or
conditioned in WCAS’s sole discretion’ provided, however, that Foxkirk may
without such consent sell, transfer all or any portion of the Foxkirk Interest
to one or more of its Affiliates, and subject to the condition precedent that
such Affiliate shall execute a joinder to become bound by the terms and
conditions of this Agreement in form and substance reasonably satisfactory to
WCAS.  

          Any
transfer in breach of this Section 4 shall be null and void and shall not
transfer the Foxkirk Interest.

	
 

	
 

	
5.

	
NO RELIANCE.

          Foxkirk
acknowledges that it has, independently and without reliance upon WCAS or any
of its affiliates (other than the Debtor and its subsidiaries), and based on
such documents and information as it has deemed appropriate, made its own
credit analysis and decision to enter into this agreement and acquire the
Foxkirk interest. Foxkirk also acknowledges that it will, independently and
without reliance upon WCAS or any of its affiliates (other than the Debtor and
its subsidiaries), and based on such documents and information as it shall from
time to time deem appropriate, continue to make its own decisions in taking or
not taking action under or

3

based upon this agreement or the Mezzanine Note, and
any related agreement or any document furnished hereunder or thereunder.

	
 

	
 

	
6.

	
REINSTATEMENT.

          The
provisions of this Agreement shall continue to be effective or be reinstated,
as the case may be, if at any time any payment in respect of the Mezzanine
Indebtedness is rescinded or must otherwise be returned by any holder of any
such indebtedness, as though such payment had not been made.

	
 

	
 

	
7.

	
IRREVOCABILITY.

          The
rights granted to WCAS by Foxkirk hereunder are irrevocable and coupled with an
interest. This Agreement is being entered into in connection with and as a
condition precedent to the acquisition of the Foxkirk Interest. All power and
authority of WCAS to act in respect of the Mezzanine Indebtedness (including on
behalf of Foxkirk) may not be terminated by any act of Foxkirk whatsoever or by
operation of law, lack of appropriate power or authority, or by any other act
or event, except as set forth in Section 8 below.

	
 

	
 

	
8.

	
TERMINATION AND REINSTATEMENT.

          This
Agreement shall terminate upon the earliest of (each a “Termination Event”)
(i) such time as the WCAS Interest is not held by WCAS and/or an Affiliate of
WCAS, (ii) irrevocable final payment in full of all the Mezzanine Indebtedness,
(iii) the occurrence and continuation of an “Event of Default” pursuant to, and
as defined in, the Credit Agreement dated as of August 1, 2006 (a “Senior
Credit Event of Default”) among the Financial Institutions named therein as
Lenders, The CIT Group/Business Credit, Inc., as the Administrative Agent,
Mobile Storage Group, Inc. and Mobile Services Group, Inc., as US Borrowers,
the Debtor, as Parent Guarantor, CIT Capital Securities LLC and Lehman
Brothers, Inc. as Joint Lead Arrangers, Lehman Brothers Inc. as Sole Bookrunner
and Syndication Agent and Wachovia Bank, National Association as Documentation
Agent (the “Senior Credit Agreement”); or (iv) the occurrence and
continuation of an Event of Default (as defined in the Purchase Agreement); provided,
however, that if a Senior Credit Event of Default and/or an Event of
Default specified in clause (c), (d), (e) or (f) of Section 7.1 of the Purchase
Agreement has occurred and is continuing, and such Senior Credit Event of
Default and/or Event of Default is subsequently waived pursuant to the terms
and conditions of the Senior Credit Agreement or the Purchase Agreement (as
applicable), WCAS’s rights to act in respect of the Mezzanine Indebtedness
pursuant to this Agreement shall once again become effective and be reinstated.

	
 

	
 

	
9.

	
MISCELLANEOUS.

          (i)
Governing Law. Issues and questions concerning the construction,
validity, enforcement and interpretation of this Agreement shall be governed
by, and construed in accordance with, the laws of the State of New York,
without giving effect to any choice of law or conflict of law rules or
provisions (whether of the State of New York or any other jurisdiction) that
would cause the application of the laws of any jurisdiction other than the
State of New York. In furtherance of the foregoing, the internal law of the
State of New York shall control the

4

interpretation and construction of this Agreement even
though under New York’s choice of law or conflict of law analysis, the
substantive law of some other jurisdiction would ordinarily apply.

          (ii)
Notices. All notices, demands or other communications to be given or
delivered under or by reason of the provisions of this Agreement shall be in
writing and shall be deemed to have been given when delivered personally to the
recipient, sent to the recipient by reputable overnight courier service (charges
prepaid) or mailed to the recipient by certified or registered mail, return
receipt requested and postage prepaid. Such notices, demands and other
communications shall be sent to the Foxkirk and WCAS at the addresses indicated
below:

	
 

	
If to WCAS, to:

	
 

	
WCAS Capital Partners IV, L.P.

  c/o Welsh, Carson, Anderson & Stowe

	
 

	
250 Park Avenue

  Suite 2500

  New York, NY 10022

  Facsimile:          (212)
  893-9575

	
 

	
Attention:          Sanjay Swani

                           Michael
  Donovan

	
 

	
with a copy to (which shall not constitute notice to
  WCAS Capital Partners IV, L.P.):

	
 

	
Kirkland & Ellis LLP

  153 East 53rd Street

  New York, NY 10022

  Facsimile:      (212) 446-6460

	
 

	
Attention:
        Michael Movsovich, Esq.

	
 

	
Foxkirk, LLC

  c/o The Northwestern Mutual Life Company

	
 

	
720 East Wisconsin Avenue

  Milwaukee, Wisconsin 53202

  Facsimile (414) 665-7124

  Attention: Lisa Cadotte 

          or
to such other address or to the attention of such other person as the recipient
party has specified by prior written notice to the sending party.

          (iii)
No Strict Construction. The parties hereto have participated jointly in the
negotiation and drafting of this Agreement. In the event an ambiguity or
question of intent or interpretation arises, this Agreement shall be construed
as if drafted jointly by the parties hereto, and no presumption or burden of
proof shall arise favoring or disfavoring any party by virtue of the authorship
of any of the provisions of this Agreement. 

5

          (iv)
Submission to Jurisdiction. Each of WCAS and Foxkirk hereby irrevocably
and unconditionally submits for itself and its property in any legal action or
proceeding relating to this Agreement, or for recognition and enforcement of
any judgment in respect thereof, to the non-exclusive general jurisdiction of
the courts of the State of New York, the courts of the United States for the
Southern District of New York, and appellate courts from any thereof.

          (v)
Waiver of Jury Trial. WCAS and Foxkirk each irrevocably waive their
respective rights to a trial by jury of any claim or cause of action based upon
or arising out of or related to this Agreement, the Mezzanine Notes, the
Purchase Agreement, or the transactions contemplated hereby or thereby, in any
action, proceeding or other litigation of any type brought by any of the
parties against any other party or any agent-related person, participant or
assignee, whether with respect to contract claims, tort claims, or otherwise.
WCAS and Foxkirk each agree that any such claim or cause of action shall be
tried by a court trial without a jury.

6

          In
witness whereof, the parties has caused this Agreement to be duly executed as
of the day and year above written.

	
 

	
 

	
 

	
 

	
FOXKIRK, LLC

	
 

	
 

	
 

	
By:    NML
  Securities Holdings, LLC, its Sole Member

	
 

	
 

	
 

	
By:    The
  Northwestern Mutual Life Insurance Company, its Sole Member

	
 

	
 

	
 

	
By:

	
         

	
 

	
 

	

	
 

	
Name:

	
Howard Stern

	
 

	
 

	
 

	
 

	
Its:

	
Its Authorized Representative

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
WCAS CAPITAL PARTNERS IV, L.P.

	
 

	
 

	
 

	
By:  WCAS CP IV
  Associates LLC, its 

  General Partner

	
 

	
 

	
 

	
 

	
By:

	
 

	
 

	

	
 

	
Name:

	
 

	
 

	

	
 

	
Its:       Managing
  Member

	
 

	
 

	
	

Signature
Page to Contractual Right Agreement

          In
witness whereof, the parties has caused this Agreement to be duly executed as
of the day and year above written.

	
 

	
 

	
 

	
 

	
FOXKIRK, LLC

	
 

	
 

	
 

	
By:    NML
  Securities Holdings, LLC, its Sole Member

	
 

	
 

	
 

	
By:    The
  Northwestern Mutual Life Insurance Company, its Sole Member

	
 

	
 

	
 

	
By:

	
 

	
 

	

	
 

	
   Name: 

	
 

	
   Its:

	
 

	
 

	
 

	
WCAS CAPITAL PARTNERS IV, L.P.

	
 

	
 

	
 

	
By:  WCAS CP IV
  Associates LLC, its

  General Partner

	
 

	
 

	
 

	
 

	
By:

	

	
 

	
 

	

	
 

	
Name:          Sanjay
  Swani

	
 

	
 

	
 

	
 

	
Its:       Managing
  Member

Signature
Page to Contractual Right AgreementExhibit 4.3 

EXECUTION
COPY

REGISTRATION RIGHTS AGREEMENT

Dated as of August 1, 2006

by
and among

Mobile Services Group, Inc.

and 

Mobile Storage Group, Inc.

as
Issuers,

The
Guarantors Named Herein

and

Lehman Brothers Inc. 

Goldman, Sachs & Co.

and 

Wachovia Capital Markets, LLC

as Initial Purchasers

                    This
Registration Rights Agreement (this “Agreement”) is dated as of August 1, 2006 by
and
among Mobile Services Group, Inc., a Delaware corporation (the “Company”), Mobile
Storage Group,
Inc., a Delaware corporation (“MSG” and
together with the Company, the “Issuers”), the
subsidiaries
listed on Schedule A attached hereto (the “Guarantors”) and Lehman Brothers Inc., Goldman, Sachs &
Co. and Wachovia Capital Markets, LLC (each an “Initial Purchaser” and, collectively, the “Initial
Purchasers”), each
of whom has agreed to purchase the Issuers’ 93⁄4% Senior Notes due 2014 (the “Notes”) pursuant to the Purchase
Agreement (as defined below).  

                    This
Agreement is made pursuant to the Purchase Agreement, dated July 20, 2006 (the “Purchase Agreement”), by and
among the Issuers,
the Guarantors and the Initial Purchasers. In order to induce the Initial
Purchasers to purchase the Notes, the Issuers 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 7(m) of the Purchase Agreement.

                    Capitalized
terms used herein and not otherwise defined shall have the meanings assigned to
them in the Indenture, dated as of the date hereof (as amended or supplemented
from time to time, the “Indenture”), among the Issuers, the
Guarantors and Wells Fargo Bank, N.A., as Trustee (the “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:

                    Act:
The U.S. Securities Act
of 1933, as amended, or any successor statute and the rules and regulations
promulgated by the Commission (as defined below) thereunder. 

                    Affiliate:
As defined in Rule 144 of the Act.

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

                    Business
Day: Any day that is not a Saturday, Sunday or other day on which banking institutions in New
York, New York are authorized or required by law to close. If the time to
perform any action hereunder falls on a day that is not a Business Day, such
time will be extended to the next Business Day and no additional interest shall
accrue on such payment for the intervening period.

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

                    Closing
Date: The date of this Agreement.

                   Commission:
The U.S. 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 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 Issuers to the Registrar (as defined in the Indenture) under
the Indenture of Exchange

2

Notes in
the same aggregate principal amount as the aggregate principal amount of Notes
validly tendered by
Holders thereof pursuant to the Exchange Offer.

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

                    Effectiveness
Deadline: The Exchange Offer Effectiveness Deadline or the Shelf
Effectiveness Deadline, as applicable.

                    Exchange
Act: The U.S. Securities Exchange Act of 1934, as amended, or any successor statute, and the rules and regulations
promulgated by the Commission thereunder.

                    Exchange
Notes: The Issuers’ 93⁄4 Senior Notes due 2014, registered under the Act, and
the related guarantees to be issued pursuant to the Indenture in the Exchange
Offer.

                    Exchange
Offer: The exchange and issuance by the Issuers 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 validly tendered by such Holders in connection with such exchange and issuance.

                    Exchange
Offer Effectiveness Deadline: As defined in Section 3(a) hereof.

                    Exchange Offer Filing Deadline: As defined in
Section
3(a) hereof.

                    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 Act, and certain persons who are not U.S. Persons (as defined in
Regulation S) in offshore transactions pursuant to Regulation S under the
Act.

                    Filing
Deadline: The Exchange Offer Filing Deadline or the Shelf Filing
Deadline, as applicable.

                    Free
Writing Prospectus: Each free writing prospectus (as defined in Rule 405 under
the Securities Act) prepared by or on behalf of any Issuer or used or referred
to by any Issuer in connection with the sale of the Notes or the Exchange
Notes.

                    Holders:
As defined in Section 2 hereof.

                    Interest
Payment Date: As defined in the Notes and the Exchange Notes.

                    Person:
As defined in the Indenture.

                    Prospectus:
The prospectus included in a Registration Statement, including any preliminary
prospectus, 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(e) hereof. 

                    Registration
Default: As defined in Section 5 hereof.

3

                    Registration
Period: As defined in Section 3(c) hereof.

                    Registration
Statement: Any registration statement of the Issuers and the
Guarantors relating
to (a) an offering of Exchange Notes and related Subsidiary Guarantees 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 Act.

                    Rule
144: Rule 144
promulgated under the Act.

                    Shelf
Effectiveness Deadline: As defined in 4(a) hereof.

                    Shelf
Filing Deadline: As defined in Section 4(a) hereof.

                    Shelf
Registration Statement: As defined in Section 4(a) hereof.

                    Shelf
Period: As defined in Section 4(a) hereof.

                    Subsidiary
Guarantees: The guarantees of the Notes and Exchange Notes of the
Guarantors under the Indenture, as amended from time to time.

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

                    TIA:
The U.S. Trust Indenture
Act of 1939 (15 U.S.C. Section 77aaa-77bbbb) as amended, or any successor
statute and the rules and regulations promulgated thereunder.

                    Transfer
Restricted Securities: (a) Each Note, and the related Subsidiary
Guarantees, until
the earliest to occur of (i) the date on which such Note has been exchanged by
a Person other than a Broker-Dealer for an Exchange Note in the Exchange Offer
and is entitled to be resold to the public by such Person without complying
with the prospectus delivery requirements of the Act, (ii) the date on which
such Note has been effectively registered under the Act and disposed of in
accordance with the Shelf Registration Statement, (iii) the date on which such
Note is distributed to the public pursuant to Rule 144 under the Act, or (iv)
the date on which such Note is eligible to be distributed to the public pursuant to Rule 144(k)
under the Act, and (b) each Exchange Note and the related Subsidiary Guarantees
acquired by
a Broker-Dealer in the Exchange Offer of a Note for such Exchange Note, until
the date on which
such Exchange Note is sold to a purchaser who receives from such Broker-Dealer
on or prior to the date of such sale a copy of the Prospectus contained in the Exchange
Offer Registration Statement.

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)
The Issuers and the Guarantors shall (i) cause the Exchange Offer Registration Statement to be filed
with the Commission on or prior to 455 days after the Closing Date (such 455th
day being
the “Exchange Offer
Filing Deadline”), (ii) use their commercially reasonable
efforts to cause.

4

such
Exchange Offer Registration Statement to become effective on or prior to 547
days after the Closing Date (such 547th day being the “Exchange Offer Effectiveness
Deadline”), (iii) in connection with the foregoing use their
commercially reasonable efforts to, (A) file all pre-effective amendments to
such Exchange Offer Registration Statement as may be necessary in order to
cause it to become effective, (B) file, if applicable, a post-effective amendment to such
Exchange Offer Registration Statement pursuant to Rule 430A under the 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 provided, however, that neither the Issuers nor the Guarantors shall be
required to take any action that would subject them to general service of
process or
taxation in any jurisdiction where they are not already subject, and (iv) as
promptly as practicable after the effectiveness of such Exchange Offer Registration
Statement, unless the Exchange Offer shall not be permitted by applicable law
or Commission policy, commence the Exchange Offer and use their commercially
reasonable efforts to Consummate the Exchange Offer on or prior to 60 days, or
longer, if required
by federal securities laws after the date on which the Exchange Offer
Registration Statement was declared effective by the Commission. The Exchange Offer
shall be on the appropriate form permitting (I) registration of the Exchange Notes to be offered in
exchange for the Transfer Restricted Securities and (II) resales of Exchange Notes
by Broker-Dealers that tendered into the Exchange Offer Notes that such Broker-Dealers
acquired for their own account as a result of market-making activities or other
trading activities (other than Notes acquired directly from any Issuer or any of their Affiliates)
as contemplated by Section 3(c) below.

                    (b) Unless
the Exchange
Offer shall not be permitted by applicable law or Commission policy (after the
procedures set forth in Section 6(a)(A) have been complied with), the Issuers and the
Guarantors shall use their 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 Issuers 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 Issuers and the Guarantors shall use their commercially reasonable
efforts to cause the Exchange Offer to be Consummated within 60 days after the Exchange
Offer Registration Statement has become effective, but in no event (unless
required by federal securities laws) later than 607 days after the Closing Date
(such 607th day being the “Consummation
Deadline”).

                    (c) The
Issuers and the
Guarantors 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
Transfer Restricted
Securities acquired directly from the Issuers or any Affiliate of the Issuers),
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 Act and must, therefore, deliver a prospectus meeting the requirements of
the Act in connection with its initial sale of any Exchange Notes received by
such Broker-Dealer in the Exchange Offer, the

5

Issuers
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 Issuers and the Guarantors agree to use
their 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 6(c) hereof and in conformity with the requirements of this
Agreement, the Act and the policies, rules and regulations of the Commission as
announced from time to time, for a period of one year from the date on which the Exchange
Offer is Consummated or such shorter period as will terminate when all Transfer
Restricted Securities covered by such Registration Statement have been sold
pursuant thereto (the “Registration Period”). The Issuers shall provide
sufficient copies of the latest version of such Prospectus to such Broker-Dealers, promptly upon
request, and in no event later than one day after such request, at any time
during such period.

SECTION 4. SHELF REGISTRATION

                    (a)
Shelf Registration. If (i) the Issuers and the Guarantors are not
required to file the Exchange Offer Registration Statement, (ii) the Exchange
Offer is not permitted by applicable law or Commission policy (after the
Issuers and the Guarantors have complied with the procedures set forth in Section 6(a)(A) hereof),
(iii) the Commission shall notify the Issuers that it shall refuse to declare effective the Exchange
Offer Registration Statement filed with the Commission or (iv) if any Holder of
Transfer
Restricted Securities shall notify the Issuers prior to the 20th Business Day
following the Consummation of the Exchange Offer that (A) such Holder was prohibited
by applicable law or Commission policy from participating in the Exchange Offer
or (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
Issuers or any Affiliate of the Issuers, then the Issuers and the Guarantors
shall:

                    (I) use
their commercially
reasonable efforts to cause to be filed, on or prior to 30 days
after the earlier of (x) the date on which the Issuers determine that the
Exchange Offer Registration Statement is not required to be filed or cannot be
filed as a result of clause (a)(i) or (a)(ii) of this Section 4(a) and (y) the date on
which the Issuers receive the notice specified in clause (a)(iii) or (a)(iv)of
this Section 4(a) (the 30th day after such earlier date (and in any event
within 607 days after the Closing Date), the “Shelf Filing Deadline”), a shelf
registration statement pursuant to Rule 415 under the Act (which may be an
amendment to the Exchange Offer Registration Statement (the “Shelf Registration Statement”)), relating
to all Transfer Restricted Securities of Holders that have provided information
pursuant to Section 4(b) hereof; and  

                    (II) use
their commercially
reasonable efforts to cause such Shelf Registration Statement to become
effective on or prior to 60 days after the Filing Deadline for the Shelf
Registration Statement (such 60th day the “Shelf Effectiveness Deadline”). 

                    If,
after the Issuers and the Guarantors have filed an Exchange Offer Registration
Statement that satisfies the requirements of Section 3(a) above, the Issuers
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 or Commission policy (i.e., clause
(a)(ii) of this Section 4), then the filing of the Exchange Offer Registration
Statement shall be deemed to satisfy the requirements of clause (I) above; provided that, in such event, the Issuers
and the Guarantors shall remain obligated to meet the Effectiveness Deadline
set forth in clause (II) above.

6

                    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 Issuers and
the Guarantors shall use their 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 6(c) hereof and in conformity with the
requirements of this Agreement, the Act and the policies, rules and regulations
of the Commission as announced from time to time, for a period of at least two
years (as extended pursuant to Section 6(d)(i) hereof) following the
Closing Date, or such shorter period as will terminate when all Transfer
Restricted Securities
covered by such Shelf Registration Statement have been sold pursuant thereto
(the “Shelf Period”).

                    (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
(i) such
Holder furnishes to the Issuers in writing, within 20 days after receipt of a written request therefor, the information specified in Item 507 or 508 of
Regulation S-K, as applicable, of the Act for use in connection with any
Shelf Registration Statement or Prospectus or preliminary Prospectus included therein, and (ii) in the
case of an underwritten offering, such Holder completes and executes all
questionnaires, powers of attorney, underwriting agreements, lock-up letters
and other documents reasonably requested by the Issuers in connection with the
terms of the underwritten offering. Furthermore, 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 Issuers in writing, within 10 Business Days after
receipt of a request therefor, such Holder’s comments to the disclosure relating to
such Holder in the Shelf Registration Statement. No Holder of Transfer
Restricted Securities shall be entitled to additional interest pursuant to
Section 5 hereof
unless and until such Holder shall have provided all such information. By its
acceptance of Transfer Restricted Securities, each Holder agrees to notify the Issuers
promptly if any of the information previously furnished is misleading or inaccurate in any
material respect and to promptly furnish additional information required to
be disclosed in order to make the information previously furnished to the
Issuers by
such Holder not materially misleading.

SECTION
5. ADDITIONAL INTEREST

                    If
(a) any Registration Statement required by this Agreement is not filed with the
Commission on or prior to the applicable Filing Deadline, (b) any such
Registration Statement has not been declared effective by the Commission on or
prior to the applicable Effectiveness Deadline, (c) the Exchange Offer has not
been Consummated on or prior to the Consummation Deadline or (d) 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 during the Registration Period or Shelf Period, as applicable,
without being succeeded immediately by a post-effective amendment 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 (each such event referred to in clauses (a) through (d), a “Registration Default”), then
the Issuers and the Guarantors hereby jointly and severally agree to pay to
each Holder of Transfer Restricted Securities affected thereby additional interest in an
amount equal to $.05 per week per $1,000 in principal amount of Transfer
Restricted Securities held by such Holder for the first 90-day period
immediately following the occurrence of such Registration Default. The amount
of the additional interest shall increase by an additional $.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 additional interest of $.20 per week per $1,000 in
principal amount of Transfer Restricted Securities; 

7

provided that the Issuers and the
Guarantors shall in no event be required to pay additional interest for more than one
Registration Default at any given time. Notwithstanding anything to the
contrary set forth herein, (i) upon Filing of the Exchange Offer Registration
Statement (and/or, if applicable, the Shelf Registration Statement), in the
case of clause (a) above, (ii) upon the effectiveness of the Exchange Offer Registration Statement
(and/or, if applicable the Shelf Registration Statement), in the case of clause
(b) above,
(iii) upon Consummation of the Exchange Offer, in the case of clause (c)
above, or (iv) 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 clause (d) above, the
additional interest payable with respect to the Transfer Restricted Securities
as a result of such clause (a), (b), (c) or (d), as applicable, shall cease on
the date of such cure and the interest rate on such Transfer Restricted
Securities will revert to the interest rate on such Transfer Restricted
Securities prior to the applicable Registration Default.

                    All
accrued additional interest 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 and the Exchange
Notes. Notwithstanding the fact that any securities for which additional
interest are due cease to be Transfer Restricted Securities, all obligations of
the Issuers and the Guarantors to pay additional interest with respect to
securities shall survive until such time as such obligations with respect to
such securities shall have been satisfied in full.

                    A
Holder of Notes or Exchange Notes who is not entitled to the benefits of a
Shelf Registration
Statement shall not be entitled to additional interest with respect to a
Registration Default that pertains to such Shelf Registration Statement.

SECTION 6. REGISTRATION PROCEDURES

                    (a)
Exchange Offer Registration Statement. In connection with the Exchange
Offer, the Issuers and the Guarantors shall (i) comply with all applicable
provisions of Section 6(c) below, (ii) use their respective commercially reasonable
efforts to effect such exchange and to permit the resale of Exchange Notes by any
Broker-Dealer that tendered Notes in the Exchange Offer 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 any Issuer or any Affiliate of any
Issuer) being sold in accordance with the intended method or methods of distribution
thereof set forth in the Registration Statement, and (iii) comply with all of
the following provisions:

	
 

	
 

	
 

	
          (A)
  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 Issuers raises a substantial question as to whether
  the Exchange Offer is permitted by applicable federal law, the Issuers and
  the Guarantors hereby agree to seek a no-action letter or other favorable
  decision from the Commission allowing the Issuers and the Guarantors to
  Consummate an Exchange Offer for such Transfer Restricted Securities. The Issuers and the
  Guarantors hereby agree to pursue the issuance of such a decision to the
  Commission staff level but shall not be required to take commercially
  unreasonable action to effect a change in Commission policy. In connection
  with the foregoing, the Issuers and the Guarantors hereby agree to take all such other
  actions as may be requested by the Commission or otherwise required in
  connection with the issuance of such decision, including without limitation (I) participating in
  telephonic conferences with the Commission staff, (II) delivering to the
  Commission staff an analysis prepared by counsel to the Issuers setting forth
  the legal bases, if any, upon which such counsel has concluded that such an
  Exchange Offer should be permitted and (III) diligently pursuing a resolution
  (which need not be favorable) by the Commission staff.

8

	
 

	
 

	
 

	
          (B) 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 Issuers, prior to
the Consummation of the Exchange Offer, a written representation to the
Issuers and the Guarantors (which may be contained in the letter of transmittal
contemplated by the Exchange Offer Registration Statement) to the effect that
(I) it is not an Affiliate of the Issuers, (II) it is not 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 (III) 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 will be required to acknowledge and agree that, if the
resales are of Exchange Notes obtained by such Holder in exchange for Notes
acquired directly from any Issuer or any Affiliate of any Issuer, 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
fetter to Shearman & Sterling dated July 2, 1993, and similar no-action
letters (including,
if applicable, any no-action letter obtained pursuant to clause (A) above),
and (2) must comply with the registration and prospectus delivery
requirements of the 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.  

	
 

	
 

	
 

	
          (C) Prior to effectiveness
of the Exchange Offer Registration Statement, the Issuers and the Guarantors
shall, to the extent required by the Commission, provide a supplemental
letter to the Commission (I) stating that the Issuers 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 (A)
above, (II) including a representation that neither the Issuers nor any
Guarantor 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 best of the Issuers’ and
each Guarantor’s information 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 (III) any other undertaking
or representation required by the Commission as set forth in any no-action
letter obtained pursuant to clause (A) above, if applicable. 

                    (b)
Shelf Registration Statement. In connection with the Shelf Registration Statement, the Issuers
and the Guarantors shall:

                              (i)
comply with all the provisions of Section 6(c) and (d) below and use their
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 Issuers pursuant to Section 4(b) hereof), and pursuant thereto the
Issuers and the Guarantors will prepare and file with the Commission a
Registration Statement
relating to the registration on any appropriate form under the 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

9

                              (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 Issuers for cancellation; provided that such Holder provides all documentation reasonably
requested by the Issuers in connection with such issuance; the Issuers and the Guarantors shall register
Exchange Notes and the related Subsidiary Guarantees 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 Issuers and the
Guarantors shall:

                              (i)
use their 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 hereof, as applicable. Upon the occurrence of any event that would cause
(A) any such Registration
Statement to contain an untrue statement of material fact or omit to state any
material fact necessary to make the statements therein not misleading or the
Prospectus contained in such Registration Statement to 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 or (B) such
Registration Statement or the Prospectus contained therein not to be effective
and usable for resale of Transfer Restricted Securities during the period
required by this Agreement, the Issuers and the Guarantors shall file as
promptly as practicable an appropriate amendment to such Registration Statement
curing such defect, and, if Commission review is required, use their
commercially reasonable efforts to cause such amendment to be declared
effective as soon as practicable. If at any time the Commission shall issue any
stop order suspending the effectiveness of any 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 slate securities or Blue Sky laws, the Issuers and the Guarantors shall
use their respective commercially reasonable efforts to obtain the withdrawal
or lifting of such order at the earliest practicable time;

                              (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 Act, and to
comply fully with Rules 424, 430A and 462, as applicable, under the Act in a timely manner;
and comply with the provisions of the 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)
in connection with any sale of Transfer Restricted Securities that will result in such securities
no longer being Transfer Restricted Securities, 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 enable such Transfer Restricted
Securities to be registered in such denominations and such names as the selling
Holders may request at least three Business Days prior to such sale of Transfer
Restricted Securities;

                              (iv)
use their 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 Transfer Restricted Securities other than as set forth in
Section

10

6(d)(x)
hereof; provided, however, that
neither the Issuers nor any Guarantor shall be required to register or qualify as a foreign
corporation or as a dealer in securities in any jurisdiction 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;

                              (v)
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 certificates for the Transfer Restricted Securities which
are in a form eligible for deposit with The Depository Trust Company;

                              (vi)
otherwise use their respective commercially reasonable efforts to comply with
all applicable rules and regulations of the Commission, and make generally
available to its security holders with regard to any applicable Registration
Statement, as soon as practicable, a consolidated earnings statement meeting
the requirements of Rule 158 under the 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
Act); and

                              (vii)
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 their respective 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.

                    (d)
Additional Provisions Applicable to Shelf Registration Statements and
Certain Exchange Offer Prospectuses. In connection with each Shelf Registration
Statement, and each Exchange Offer Registration Statement if and to the extent
that an Initial Purchaser has notified the Issuers that it is a holder of Transfer
Restricted Securities (for so long as such Notes are Transfer Restricted
Securities or for the period provided in Section 3 hereof, whichever is shorter), with
respect to any Holder selling pursuant to the Shelf Registration Statement or with
respect to any such Initial Purchaser, the Issuers and the Guarantors shall:

                              (i)
advise such Holder as promptly as practicable 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
older suspending the effectiveness of the Registration Statement under the Act
or of the suspension by any state securities commission of the qualification of the Transfer
Restricted 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;

11

                              (ii)
subject to Section 6(c)(i) hereof, if any fact or event contemplated by Section
6(d)(i)(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;

                              (iii)
furnish to such 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 (except the Prospectus included in the Exchange Offer Registration
Statement at the time it was declared effective) 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 not less than five Business Days, and the
Issuers 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 Business 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 omits to state any material
fact necessary to make the statements therein not misleading or fails to comply
with the applicable requirements of the Act;

                              (iv)
promptly prior to the filing of any document that is to be incorporated by reference into a
Registration Statement or Prospectus, provide copies of such document, upon
request, to such Holder in connection with such exchange or sale, if any, make
the Issuers’ and the Guarantors’ representatives reasonably available for
discussion of such document and other customary due diligence matters and
include such information in such document prior to the filing thereof as such
Holders may reasonably
request;

                              (v)
subject to a confidentiality agreement reasonable acceptable to the Issuers and the
Guarantors, make available, at reasonable times, for inspection by such Holder
and any attorney or accountant retained by such Holders, all financial and
other records, pertinent corporate documents of the Issuers and the Guarantors
reasonably requested by such persons and cause the Issuers’ and the Guarantors’
officers, directors and employees to supply all information reasonably
requested by any such Holder, attorney or accountant, in connection with such
Registration Statement or any post-effective amendment thereto subsequent to
the filing thereof and prior to its effectiveness;

                              (vi)
if requested by any such Holders in connection with such exchange or sale,
promptly include in any 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 Issuers are notified of the matters
to be included in such Prospectus supplement or post-effective amendment;

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

12

                              (viii)
upon request, deliver to such Holder without charge, as many copies of the Prospectus (including
each preliminary prospectus) and any amendment or supplement thereto as such Holder reasonably may
request. The Issuers 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;

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

	
 

	
 

	
 

	
          (A) upon
  the reasonable request of such Holder, furnish (or in the case of paragraphs (2)
  and (3), use their commercially reasonable efforts to cause to be furnished)
  to each such Holder, upon
  Consummation of the Exchange Offer or upon the effectiveness of the Shelf Registration Statement, as the case may be:

	
 

	
 

	
 

	
          (1)
  a
  certificate in customary form, dated such date, signed on behalf of the
  Issuers and
  each Guarantor by (x) the President or any Vice President and (y) a principal
  financial or accounting officer of each Issuer, confirming, as of the date
  thereof, the type of matters set forth in Section 7(j) of the Purchase
  Agreement with respect to the Registration Statement and the securities
  registered thereunder and such other similar matters as such Holders may
  reasonably request;

	
 

	
 

	
 

	
          (2) an opinion in customary
  form, dated the date of Consummation of the Exchange Offer or the date of
  effectiveness of the Shelf Registration Statement, as the case may be, of counsel for the
  Issuers and the Guarantors covering matters set forth in the opinions
  provided on the Closing Date pursuant to Sections 7(c) through (f) of the Purchase
  Agreement and such other matters as such Holder may reasonably request; and

	
 

	
 

	
 

	
          (3) a customary comfort
  letter, dated the date of Consummation of the Exchange Offer, or as of the
  date of effectiveness of the Shelf Registration Statement, as the case may
  be, from
  the Issuers’ 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 affirming the matters set forth
  in the comfort letters delivered pursuant to Section 7(g) of the Purchase
  Agreement; and

	
 

	
 

	
 

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

                              (x)
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 reasonably
request and use their respective commercially reasonable efforts to 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; provided, however, that

13

neither the Issuers nor any
Guarantor shall be required to register or qualify as a foreign corporation or
as a dealer in securities in any
jurisdiction 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; and

                              (xi)
provide as promptly as practicable to each such Holder, upon request, each document filed with the Commission pursuant
to the requirements of Section 13 or Section 15(d) of the Exchange Act.

                    (e)
Restrictions on Holders. Each Holder’s acquisition of a Transfer
Restricted Security constitutes such
Holder’s agreement that, upon receipt of the notice referred to in Section
6(d)(i)(C) or any notice from the Issuers of the existence of any fact of the
kind described in Section 6(d)(i)(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(d)(ii)
hereof, or (ii) such Holder is advised in writing by the Issuers 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
shall be required to either (I) destroy any Prospectuses, other than permanent
file copies, then in such Holder’s
possession that have been replaced by the Issuers with a more recently dated Prospectus or (II) deliver to the Issuers (at the
Issuers’ expense) all copies, other than permanent file copies, then in such Holder’s possession of the
Prospectuses covering such Transfer Restricted Securities that was current at the time of receipt of the
Suspension Notice. The time periods regarding 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 date of delivery of the Recommencement Date.  

SECTION 7. REGISTRATION EXPENSES

                    (a) All
expenses incident to the Issuers’ and the Guarantors’ performance of or compliance with this Agreement (other than
underwriting discounts and commissions) will be borne by the Issuers, 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 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 counsel for the
Issuers, the Guarantor’s and all reasonable fees and disbursements of one
counsel for the Holders of Transfer Restricted Securities (which shall be Simpson Thacher & Bartlett LLP
or such other counsel as may be selected by a majority of such Holders); (v)
all application and filing fees in connection with listing the Exchange Notes
on a national securities exchange or automated quotation system pursuant to the
requirements hereof; and (vi) all fees and disbursements of independent
certified public accountants of the Issuers and the Guarantors (including the
expenses of any special audit and comfort letters required by or incident to
such performance).

                    The
Issuers will, in any event, bear their 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 Issuers 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

14

Statement),
the Issuers 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 fees and disbursements of not
more than one counsel (who shall be Simpson Thacher & Bartlett 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). The Issuers shall not be required to pay any underwriting
discounts, commissions or similar fees related to the sale of any securities.

SECTION 8. INDEMNIFICATION

                    (a) Each
Issuer and each
Guarantor hereby agrees, 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 Act or Section 20 of the
Exchange Act), from and against any and all losses, claims, damages,
liabilities or judgments (including without limitation, any reasonable 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) to which they or any of them may become
subject under the Act, the Exchange Act or otherwise, insofar as such losses,
claims, damages, liabilities, judgments and expenses are caused by any untrue
statement or alleged untrue statement of a material fact contained in any
Registration Statement, Prospectus, Free Writing Prospectus or any “issuer information”
(as defined in Rule 433 of the Securities Act) filed or required to be filed
pursuant to Rule 433(d) under the Securities Act (or any amendment or
supplement thereto) provided by the Issuers 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 not 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 such Holder furnished in writing to the Issuers by such Holder.

                    (b) By
its acquisition of Transfer Restricted Securities, each Holder of Transfer Restricted Securities
agrees, severally and not jointly, to indemnify and hold harmless the Issuers
and the Guarantors,
and their respective directors and officers, and each person, if any, who
controls (within the meaning of Section 15 of the Act or Section 20 of the Exchange Act) the
Issuers or the Guarantors to the same extent as the foregoing indemnity from the Issuers
and the Guarantors set forth in Section 8(a) hereof, but only with reference to
information relating to such Holder furnished in writing to the Issuers by such Holder expressly
for use in any Registration Statement, any Prospectus and any Free Writing Prospectus. 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 (b) hereof (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 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  

15

which
indemnity may be sought pursuant to both Sections 8(a) and (b) hereof, 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 within a reasonable
time after notice of commencement of the action 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 case of the parties indemnified, pursuant to Section 8(a)
hereof, and by the Issuers and the Guarantors, in the case of parties
indemnified, pursuant to Section 8(b) hereof. The indemnifying party shall
indemnify and hold harmless the indemnified party from and against any and all
losses, claims, damages, liabilities and judgments by reason of any settlement
of any action (A) effected with its written consent or (B) effected without its
written
consent if the settlement is entered into more than 20 Business Days after the
indemnifying party shall have received a request from the indemnified party for
reimbursement for the fees and expenses of counsel (in any case where such fees
and expenses are at the expense of the indemnifying party) and, prior to the date of such
settlement, the indemnifying party shall have failed to comply with such reimbursement
request. 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 or could have been
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.

                    (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 Issuers and the Guarantors on the one
hand, and the Holders, on the other hand, from the initial sale by the Issuers
of Transfer Restricted Securities (or in the case of Exchange Notes that are
Transfer Restricted Securities, the sale of the Notes for which such Exchange
Notes were exchanged) or (ii) if the allocation provided by clause 8(d)(i)
above is not permitted by applicable law, in such proportion as is appropriate
to reflect not only the relative benefits referred to in such clause 8(d)(i)
but also the relative fault of the Issuers 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 Issuers
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

16

omission
or alleged omission to state a material fact relates to information supplied by
the Issuers or such Guarantor, 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 Section 8(c) hereof, any legal or other fees or
expenses reasonably incurred by such party in connection with investigating or defending any action or
claim.

                    The
Issuers, the Guarantors and, by its acquisition of Transfer Restricted
Securities, 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 legal 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 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 1l(f) of the 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(d) 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
Issuers and each Guarantor agree with each Holder, for so long as any Transfer
Restricted Securities remain outstanding and during any period in which the
Issuer or such Guarantor (a) is not subject to Section 13 or 15(d) of the
Exchange Act, to make available, upon request of any 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 Act in order to permit resales of such Transfer Restricted Securities pursuant to Rule
144A, and (b) is subject to Section 13 or 15(d) of the Exchange Act, to use
their commercially reasonable efforts 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)
Remedies. The Issuers and the Guarantors acknowledge and agree that any failure by the Issuers
and/or the Guarantors to comply with their respective obligations under
Sections 3 and
4 hereof may result in material irreparable injury to the Initial Purchasers or
the Holders for which there is no adequate remedy at law, that it will not be
possible to measure damages for such injuries precisely and that, in the event
of any such failure, the Initial Purchasers or any Holder may obtain such relief as may be
required to specifically enforce the Issuers’ and the Guarantor’s obligations
under Sections
3 and 4 hereof. The Issuers and the Guarantors further agree to waive the
defense in any action for specific performance that a remedy at law would be
adequate.

17

                    (b) Free
Writing Prospectus. The Issuers represent,
warrant and covenant that they (including their agents and representatives) will not
prepare, make, use, authorize, approve or refer to any “written communication”
(as defined in Rule 405 under the Securities Act) in connection with the issuance
and sale of the Notes and the Exchange Notes, other than any communication
pursuant to Rule 134, Rule 135 or Rule 135c under the Securities Act, any document
constituting an offer to sell or solicitation of an offer to buy the Notes or the Exchange
Notes that falls within the exception from the definition of prospectus in
Section 2(a)(10)(a) of the Securities Act or a prospectus satisfying the requirements
of section 10(a) of the Securities Act or of Rule 430, Rule 430A, Rule 430B,
Rule 430C or Rule
431 under the Securities Act.

                    (c) No
Inconsistent
Agreements. The Issuers and the Guarantors will not, on or after the date of this
Agreement, enter into any agreement with respect to their respective securities
that is inconsistent with the rights granted to the Holders in this Agreement
or otherwise conflicts with the provisions hereof. The Issuers and the
Guarantors have not previously entered into any agreement granting any registration
rights with respect to their respective 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 Issuers’ and the Guarantors’
securities under any agreement in effect on the date hereof.

                    (d) 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(d)(i), the Issuers have obtained the
written consent of Holders of all outstanding Transfer Restricted Securities
and (ii) in the case of all other provisions hereof, the Issuers have 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
Issuers or its Affiliates). Notwithstanding the foregoing, a waiver of 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 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.

                    (e) Third
Party
Beneficiary. The Holders shall be
third party beneficiaries to the agreements
made hereunder between the Issuers 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 their rights hereunder.

                    (f)
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),
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 Issuers or any of the Guarantors:

	
 

	
 

	
 

	
c/o Mobile Services Group,
  Inc.

	
 

	
7590
  North Glenoaks Boulevard 

	
 

	
Burbank,
  California 91504 

	
 

	
Attention:
  General Counsel

18

	
 

	
 

	
 

	
(Fax: (818) 253-3154)
  

	
 

	
 

	
 

	
with
  a copy to:

	
 

	
 

	
 

	
Kirkland
  & Ellis LLP

	
 

	
153
  East 53rd Street

	
 

	
New
  York, New York 10022

	
 

	
Attention:
  Joshua N. Korff, Esq.

	
 

	
(Fax:
  (212) 446-6460)

                    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 is 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.

                    (g)
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.

                    (h)
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.

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

                    (j)
Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

                    (k)
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.

                    (l)
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 herein with respect to the registration rights granted with
respect to the Transfer Restricted Securities. This

19

Agreement
supersedes all prior agreements and understandings between the parties with
respect to such subject matter.

[Signature Pages to Follow]

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

	
 

	
 

	
 

	
 

	
 

	
 

	
MOBILE
  SERVICES GROUP, INC.

	
 

	
 

	
 

	
 

	
 

	
 

	
By: 

	

	
 

	
 

	
 

	

	
 

	
 

	
   Name:
  Christopher A. Wilson

	
 

	
 

	
   Title: General Counsel
  and Assistant Secretary

	
 

	
 

	
 

	
 

	
 

	
MOBILE
  STORAGE GROUP, INC.

	
 

	
 

	
 

	
 

	
 

	
 

	
By: 

	

	
 

	
 

	
 

	

	
 

	
 

	
   Name: Christopher A.
  Wilson 

	
 

	
 

	
   Title: General
  Counsel and Assistant Secretary

	
 

	
 

	
 

	
 

	
 

	
 

	
A
  BETTER MOBILE STORAGE COMPANY

	
 

	
 

	
 

	
 

	
 

	
 

	
By: 

	

	
 

	
 

	
 

	

	
 

	
 

	
   Name: Christopher A. Wilson

	
 

	
 

	
   Title: General Counsel
  and Assistant Secretary

	
 

	
 

	
 

	
 

	
 

	
MOBILE STORAGE GROUP (TEXAS), L.P.

	
 

	
 

	
 

	
 

	
 

	
By: 

	
MOBILE STORAGE GROUP, INC.

  its
  General Partner

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
By: 

	

	
 

	
 

	
 

	
 

	

	
 

	
 

	
 

	
 

	
Name:
  Christopher A. Wilson

	
 

	
 

	
 

	
 

	
Title:
  General Counsel and Assistant 

  Secretary

	
 

LEHMAN
BROTHERS INC. 

GOLDMAN, SACHS & CO. 

WACHOVIA CAPITAL MARKETS, LLC

By: LEHMAN BROTHERS INC.

	
 

	
 

	
By: 

	

	
 

	

	
 

	
     Authorized
  Representative

On
behalf of each of the Initial Purchasers

Schedule A

Guarantors

A Better Mobile Storage Company 

Mobile Storage Group (Texas), L.P.

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