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Exhibit 4.30    
    

 
 

EXTENSION OF WAIVER TERMINATION DATE    
    

March 30,
2005 

Inter-American
Development Bank

Private Sector Department

1300 New York Avenue, N.W.

Washington, D.C. 20577

Attention: Loan Administration Unit 

Export
Development Canada

151 O'Connor Street

Ottawa, Ontario

Canada

K1A 1K3

Attention: Special Assets Unit 

Ladies
and Gentlemen: 

        Reference
is made to (a) the Eighth Amendment and Limited Term Waiver Agreement dated as of February 13, 2004 (as amended, supplemented or otherwise modified as of
the date hereof, including by means of a letter agreement between SRT, the Borrower and the Senior Lenders dated February 14, 2005, the "Eighth
Amendment") between among SR Telecom Inc., a corporation duly organized and validly existing under the laws of Canada
("SRT"), Comunicación y Telefonía Rural S.A., a sociedad
anónima duly organized and validly existing under the laws of Chile (the "Borrower"), Export Development
Canada (formerly Export Development Corporation), a corporation established by an Act of the Parliament of Canada ("EDC"), and Inter-American
Development Bank, an international organization established by the Articles of Agreement among its member countries ("IDB", together with EDC, the
"Senior Lenders"). Capitalized terms used herein and defined in the Eighth Amendment shall have the same respective meanings herein. 

        Pursuant
to Section 6 of the Eighth Amendment, the Eighth Amendment will expire upon the earliest date of occurrence of any of the events listed therein.
Section 6(a) of the Eighth Amendment lists March 31, 2005 as one such event. In view of the fact that SRT continues to discuss with debenture holders and other creditors a
possible restructuring of outstanding debentures together with possible new debt facilities, which transactions will require the consent of the Senior Lenders and the final terms of which are
anticipated to materially impact the scope and terms of such consent, each of the parties hereto agree, subject to the conditions specified in the last paragraph of this letter, that: 

 

        (1)   Section 6(a) of
the Eighth Amendment is hereby amended in its entirety to read as follows: 

        "(a) April 22,
2005;"; 

        (2)   Section 6
of the Eighth Amendment is hereby amended by replacing the text in Section 6(j)(ii) in its entirety with the following: 

        "(ii) the
failure to of SRT to provide the Senior Lenders promptly upon receipt thereof by SRT but in any event by no later than April 22, 2004, SRT's 2004 annual
financial statements including an opinion of an independent certified public accountants thereon;" 

        (3)   Section 6
of the Eighth Amendment is amended by (a) replacing the numerals "$45,000" in Section 6(k) with the numerals "$150,000" and
(b) replacing the words "February 18, 2005" in Section 6(k) with the words "April 15, 2005". 

        (4)   Section 10(l) of
the Eighth Amendment is hereby amended by deleting the "." and at the end of such section and inserting "; and" in place thereof; and 

        (5)   Section 10
of the Eighth Amendment is hereby amended by inserting the following subsection after Section 10(l): 

        "(m) the
Borrower or SRT, as the case may be, shall execute, acknowledge and deliver or cause to be executed, acknowledged or delivered such instruments as may reasonably be
requested by the Senior Lenders for maintaining in full force and effect the perfection of the security interests created by the Security Documents or for amending the Security Documents or equivalent
provisions of the Financing Documents in order to accurately describe the security interests created by the Security Documents or the underlying property over which such security interests were
granted including, without limitation, by executing, acknowledging and delivering (i) a project account agreement, in form and substance satisfactory to the Senior Lenders among the Borrower,
SRT, the Senior Lenders and Banco de Chile (ii) any other documents necessary to effect the purpose of such project account agreement and (iii) an acknowledgment executed by each of the
counterparties to the following Material Contracts, each to be delivered as promptly as practicable after the date hereof: (A) the agreement for distribution and commercialization of Internet
connection, entered into by the Borrower and IFX Networks Chile S.A by means of a private deed dated February 16, 2001; (B) agreement for networks interconnection, entered into by the
Borrower and CTC Comunicaciones Móviles S.A. by means of a private deed dated July 3, 2000; (C) agreement for interconnection and access, entered into by the
Borrower and CTC Transmisiones Regionales S.A by means of a private deed dated June 29, 2000; (D) agreement for interconnection and access, entered into by the Borrower and Globus
Cientoveinte S.A, by means of a private deed dated May 7, 2001; (E) agreement for multicarrier system for public phones of automatic collection, entered into by the Borrower and Justice
Telecom International, by means of a private deed dated January 20, 2000; and (F) agreement for interconnection and access, entered into by the Borrower and Firstcom Long
Distance S.A., by means of a private deed dated August 3, 2000.". 

2

 

        Each
of SRT and the Borrower covenants and agrees that the Transaction Documents and the provisions thereof are and remain legal, valid and binding obligations of each of SRT and the
Borrower enforceable in accordance with their terms, and remain in full force and effect except as amended or modified hereby, and each of SRT and the Borrower hereby reaffirms, reconfirms and
restates, all such obligations, as so modified, to the Senior Lenders. Each of SRT and the Borrower hereby expressly acknowledges and agrees that nothing in this letter or in any document or
instrument executed in connection with or pursuant to this letter shall constitute a satisfaction as to all or any portion of the Obligations. 

3

        The
amendments provided in this letter shall become effective on the date on which each of the Senior Lenders shall have received an executed a counterpart of this letter from each other
Senior Lender, the Borrower and SRT. 

	 	 	 	 	Very truly yours,
	

 	
 	

 	
 	

SR TELECOM INC.
	

 	
 	

 	
 	

By	
 	

s/ PIERRE ST-ARNAUD
 Name: Pierre St-Arnaud

Title: President and CEO
	

 	
 	

 	
 	

By	
 	

/s/ DAVID ADAMS
 Name: David L. Adams

Title: S.r. VP Finance and CFO
	

 	
 	

 	
 	

COMUNICACIÓN Y TELEFONÍA RURAL S.A.
	

 	
 	

 	
 	

By	
 	

/s/ DAVID ADAMS
 Name: David L. Adams

Title: Director

	

ACKNOWLEDGED, ACCEPTED AND AGREED
	

EXPORT DEVELOPMENT CANADA
	

By	
 	

/s/ SEAN MITCHELL
 Name: Sean Mitchell

Title: Manager Special Risks	
 	

 	
 	

 
	

By	
 	

/s/ ROB HODGES
 Name: Rob Hodges

Title: Manager, Special Risks	
 	

 	
 	

 

	

INTER-AMERICAN DEVELOPMENT BANK
	

By	
 	

/s/ HIROSHI TOYODA
 Name: Hiroshi Toyoda

Title: Manager, Private Sector Department	
 	

 	
 	

 

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Exhibit 4.30

EXTENSION OF WAIVER TERMINATION DATEQuickLinks
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Exhibit 4.31    
    

 
 

EXTENSION OF WAIVER TERMINATION DATE    
    

April 22,
2005 

Inter-American
Development Bank

Private Sector Department

1300 New York Avenue, N.W.

Washington, D.C. 20577

Attention: Loan Administration Unit 

Export
Development Canada

151 O'Connor Street

Ottawa, Ontario

Canada

K1A 1K3

Attention: Special Assets Unit 

Ladies
and Gentlemen: 

        Reference
is made to (a) the Eighth Amendment and Limited Term Waiver Agreement dated as of February 13, 2004 (as amended, supplemented or otherwise modified as of
the date hereof, including by means of letter agreements between SRT, the Borrower and the Senior Lenders dated February 14, 2005 and March 30, 2005, the "Eighth
Amendment") between among SR Telecom Inc., a corporation duly organized and validly existing under the laws of Canada
("SRT"), Comunicación y Telefonía Rural S.A., a sociedad
anónima duly organized and validly existing under the laws of Chile (the "Borrower"), Export Development
Canada (formerly Export Development Corporation), a corporation established by an Act of the Parliament of Canada ("EDC"), and Inter-American
Development Bank, an international organization established by the Articles of Agreement among its member countries ("IDB", together with EDC, the
"Senior Lenders"). Capitalized terms used herein and defined in the Eighth Amendment shall have the same respective meanings herein. 

        Pursuant
to Section 6 of the Eighth Amendment, the Eighth Amendment will expire upon the earliest date of occurrence of any of the events listed therein.
Section 6(a) of the Eighth Amendment lists April 22, 2005 as one such event. In view of the fact that SRT continues to discuss with debenture holders and other creditors a
possible restructuring of outstanding debentures together with possible new debt facilities, which transactions will require the consent of the Senior Lenders and the final terms of which are
anticipated to materially impact the scope and terms of such consent, each of the parties hereto agree, subject to the conditions specified in the last paragraph of this letter, that: 

 

        (1)   Section 6(a) of
the Eighth Amendment is hereby amended in its entirety to read as follows: 

        "(a) May 1,
2005;"; 

        (2)   Section 6(e) of
the Eighth Amendment is hereby amended by adding the following words at the end of such subsection: "or the date of any notice,
extraordinary resolution or other document from the bondholders under the Trust Indenture advising that the waiver or the extension of maturity date approved in the extraordinary resolution dated
April 22, 2005 has terminated"; 

        (3)   Section 10(m) of
the Eighth Amendment is hereby amended by inserting the following clause after the words "acknowledging and delivering" and before the
words "(i) a project account agreement": ", by no later than April 29, 2005"; and 

        (4)   Section 10
of the Eighth Amendment is hereby amended by adding the following clause as a new Section 10(n): "SRT shall promptly give the Senior
Lenders notice of, and provide copies of, any extraordinary resolution or any other notice or correspondence from SRT's bondholders regarding (a) the extension of the maturity date under the
Trust Indenture or (b) any default or the termination of any waiver of any default including without limitation a termination of the waiver provided under the terms of the extraordinary
resolution dated April 22, 2005." 

        Each
of SRT and the Borrower covenants and agrees that the Transaction Documents and the provisions thereof are and remain legal, valid and binding obligations of each of SRT and the
Borrower enforceable in accordance with their terms, and remain in full force and effect except as amended or modified hereby, and each of SRT and the Borrower hereby reaffirms, reconfirms and
restates, all such obligations, as so modified, to the Senior Lenders. Each of SRT and the Borrower hereby expressly acknowledges and agrees that nothing in this letter or in any document or
instrument executed in connection with or pursuant to this letter shall constitute (a) agreement with or approval of the terms and conditions attached to the extraordinary resolution dated
April 22, 2005 approved by SRT's bondholders or (b) a satisfaction as to all or any portion of the Obligations. 

2

        The
amendments provided in this letter shall become effective on the date on which each of following conditions shall have been met: 

        (a)   the
Senior Lenders shall have received an executed a counterpart of this letter from each other Senior Lender, the Borrower and SRT. 

        (b)   the
Senior Lenders shall have received evidence in form and substance satisfactory to the Senior Lenders that SRT's bondholders have agreed to (i) an extension of
the maturity date of SRT's bonds and (ii) a waiver of any and all defaults that have occurred and are continuing under the bond documents until May 1, 2005 at the earliest. 

	 	 	 	 	Very truly yours,
	

 	
 	

 	
 	

SR TELECOM INC.
	

 	
 	

 	
 	

By	
 	

/s/ PIERRE ST-ARNAUD
 Name: Pierre St-Arnaud

Title: President and CEO
	

 	
 	

 	
 	

By	
 	

/s/ DAVID ADAMS
 Name: David L. Adams

Title: Sr. VP Finance and CFO
	

 	
 	

 	
 	

COMUNICACIÓN Y TELEFONÍA RURAL S.A.
	

 	
 	

 	
 	

By	
 	

/s/ DAVID ADAMS
 Name: David L. Adams

Title: Director

	

ACKNOWLEDGED, ACCEPTED AND AGREED
	

EXPORT DEVELOPMENT CANADA
	

By	
 	

/s/ SEAN MITCHELL
 Name: Sean Mitchell

Title: Manager Special Risks	
 	

 	
 	

 
	

By	
 	

/s/ ROB HODGES
 Name: Rob Hodges

Title: Manager, Special Risks	
 	

 	
 	

 

	

INTER-AMERICAN DEVELOPMENT BANK
	

By	
 	

/s/ HIROSHI TOYODA
 Name: Hiroshi Toyoda

Title: Manager, Private Sector Department	
 	

 	
 	

 

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Exhibit 4.31

EXTENSION OF WAIVER TERMINATION DATE

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