Document:

Purchase Agreement dated March 20, 2007

 Exhibit 10.62 
 SBA COMMUNICATIONS CORPORATION 
 $300,000,000 0.375% Convertible Senior Notes due 2010 
 Purchase Agreement 
 March 20, 2007

 Lehman Brothers Inc., 
 Citigroup Global Markets Inc.,

 Deutsche Bank Securities Inc. 
 As Representatives of the
several 
 Initial Purchasers listed on 
 Schedule 1 hereto 
 c/o Lehman Brothers Inc. 
 745
Seventh Avenue 
 New York, New York 10019 
 Ladies and
Gentlemen: 
 SBA Communications Corporation, a Florida corporation (the “Company”), proposes to issue and sell to the
initial purchasers listed on Schedule 1 hereto (collectively, the “Initial Purchasers”) $300,000,000 principal amount of its 0.375% Convertible Senior Notes due 2010 (the “Firm Securities”) and, at the option of the
Initial Purchasers, up to an additional $50,000,000 principal amount of its 0.375% Convertible Senior Notes due 2010 (the “Additional Securities” and, together with the Firm Securities, the “Securities”). The
Securities will be issued pursuant to the Indenture, to be dated as of the Closing Date (as defined in Section 2(c)) (as the same may be amended, supplemented, waived or otherwise modified from time to time in accordance with the terms thereof,
the “Indenture”), between the Company and U.S. Bank National Association, as trustee (the “Trustee”). 
 The Securities will be convertible into fully paid, nonassessable shares of Class A common stock of the Company, par value $0.01 per share (the “Common Stock”), on the terms, and subject to the conditions, set forth in
the Indenture. As used herein, “Conversion Shares” means the shares of Common Stock issuable upon conversion of the Securities. 
 The Securities will be offered and sold to the Initial Purchasers without being registered under the Securities Act of 1933, as amended (the “Securities Act”), in reliance upon an exemption therefrom. Holders of the
Securities (including the Initial Purchasers and their direct and indirect transferees) will be entitled to the benefits of a Registration Rights Agreement, to be dated as of the Closing Date, between the Company and you, as representatives (the
“Representatives”) of the Initial Purchasers 

 
(the “Registration Rights Agreement”), pursuant to which the Company will agree to file with the Securities and Exchange Commission (the
“Commission”) a shelf registration statement pursuant to Rule 415 under the Securities Act (the “Registration Statement”), pursuant to which the Company will register the resale of the Securities and the Conversion
Shares under the Securities Act, subject to the terms and conditions therein specified. 
 The Company hereby confirms its agreement with the
Initial Purchasers concerning the purchase and sale of the Securities, as follows: 
 1. Offering Memorandum. The Company has prepared
a preliminary offering memorandum, dated March 20, 2007 (the “Preliminary Offering Memorandum”), and will prepare an offering memorandum, dated the date hereof (the “Final Offering Memorandum”), setting forth
information concerning the Company, the Securities and the Conversion Shares. Copies of the Preliminary Offering Memorandum have been, and copies of the Final Offering Memorandum will be, delivered by the Company to the Initial Purchasers pursuant
to the terms of this Agreement. The Company hereby confirms that it has authorized the use of the Preliminary Offering Memorandum, the other Time of Sale Information (as defined below) and the Final Offering Memorandum in connection with the
offering and resale of the Securities and the Conversion Shares by the Initial Purchasers in the manner contemplated by this Agreement. 
 Capitalized terms used but not defined herein shall have the meanings given to such terms in the Preliminary Offering Memorandum. References herein to the Preliminary Offering Memorandum, the Time of Sale Information and the Final Offering
Memorandum shall be deemed to refer to and include any document incorporated by reference therein. 
 At or prior to the time when sales of
the Securities were first made or confirmed by the Initial Purchasers (the “Time of Sale”), the following information shall have been prepared (collectively, the “Time of Sale Information”): the Preliminary Offering
Memorandum, as supplemented and amended by the written communications listed on Annex A hereto. 
 2. Purchase and Resale of the Securities
by the Initial Purchasers. The Company agrees to issue and sell the Firm Securities to the several Initial Purchasers as provided in this Agreement, and each Initial Purchaser, on the basis of the representations, warranties and agreements set
forth herein and subject to the conditions set forth herein, agrees, severally and not jointly, to purchase from the Company the principal amount of Firm Securities set forth opposite that Initial Purchaser’s name in Schedule 1 hereto, plus any
additional principal amount of Securities which such Initial Purchaser may become obligated to purchase pursuant to the provisions of Section 8, at a purchase price equal to 97.75% of the principal amount thereof (the “Purchase
Price”). 
 In addition, on the basis of the representations and warranties contained in this Agreement, and subject to its terms
and conditions, the Company agrees to sell to the 

  

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Initial Purchasers the Additional Securities, and each Initial Purchaser shall have the right, severally and not jointly, to purchase the principal amount of
Additional Securities that bears the same proportion to the aggregate principal amount of Additional Securities to be sold on the Additional Closing Date as the principal amount of Firm Securities set forth in Schedule 1 hereto opposite the name of
such Initial Purchaser bears to the aggregate principal amount of Firm Securities, at the Purchase Price plus accrued interest, if any, from the Closing Date (as defined below) to the Additional Closing Date, solely to cover over-allotments, if any.
If you exercise such option, you shall so notify the Company in writing not later than thirty (30) calendar days after the date of this Agreement, which notice shall specify the principal amount of Additional Securities to be purchased by the
Initial Purchasers and the date on which such Additional Securities are to be purchased. Such date may be the same as the Closing Date but not earlier than the Closing Date and not later than ten (10) Business Days after the date of such
notice. 
 (a) The Company understands that the Initial Purchasers intend to offer the Securities for resale pursuant to Rule 144A under the
Securities Act (“Rule 144A”) on the terms set forth in the Time of Sale Information and the Final Offering Memorandum. Each Initial Purchaser severally represents, warrants and agrees with the Company that: 
 (i) it is a qualified institutional buyer within the meaning of Rule 144A under the Securities Act (a “QIB”) and an
accredited investor within the meaning of Rule 501(a) under the Securities Act; 
 (ii) it is purchasing the Securities
pursuant to an exemption under the Securities Act; 
 (iii) it has not solicited offers for, or offered or sold, and will not
solicit offers for, or offer or sell, the Securities by means of any form of general solicitation or general advertising within the meaning of Rule 502(c) of Regulation D under the Securities Act (“Regulation D”) or in any manner
involving a public offering within the meaning of Section 4(2) of the Securities Act; and 
 (iv) it has solicited offers
and will solicit offers for the Securities only from, and has offered, sold and delivered and will offer, sell and deliver the Securities only to persons whom it reasonably believes to be QIBs or if any such person is buying for one or more
institutional accounts for which such person is acting as fiduciary or agent, only when such person has represented to it that each such account is a QIB to whom notice has been given that such sale is being made in reliance on Rule 144A.

 The Company acknowledges and agrees that, subject to the terms and conditions of this Agreement, the Initial Purchasers may offer and sell
Securities to or through any affiliates of the Initial Purchasers and that any such affiliate may offer and sell Securities purchased by it to or through the Initial Purchasers. 
  

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 (b) Payment for the Firm Securities shall be made
by wire transfer in immediately available funds to the account specified by the Company to the Initial Purchasers at the offices of Simpson Thacher & Bartlett LLP, 425 Lexington Avenue, New York, New York at 10:00 a.m., New York City time,
on March 26, 2007, or at such other time or place on the same or such other date, not later than the fifth (5th) Business Day after March 26, 2007, as the Initial Purchasers and the Company may agree upon in writing. 
 (c)
Payment for any Additional Securities shall be made on the date and at the time and place specified by the Initial Purchasers in the written notice of the Initial Purchasers’ election to purchase such Additional Securities. The time and date of
such payment for the Firm Securities is referred to herein as the “Closing Date” and the time and date for such payment for the Additional Securities, if other than the Closing Date, is herein referred to as the “Additional
Closing Date.” 
 Certificates for the Firm Securities and Additional Securities shall be in global form, registered in such names
and in such denominations as you shall request in writing not later than one (1) full Business Day prior to the Closing Date or the Additional Closing Date, as the case may be. The certificates evidencing the Firm Securities and Additional
Securities shall be delivered to you on the Closing Date or the Additional Closing Date, as the case may be, for the account of the Initial Purchasers, with any documentary stamp taxes or other taxes payable in connection with the issuance of the
Securities to the Initial Purchasers duly paid by the Company, against payment of the Purchase Price therefor plus accrued interest, if any, to the Additional Closing Date on the Additional Closing Date. 
 (d) The Company acknowledges and agrees that each Initial Purchaser is acting solely in the capacity of an arm’s length contractual counterparty to
the Company with respect to the offering of Securities and Conversion Shares contemplated hereby (including in connection with determining the terms of the offering) and not as a financial advisor or a fiduciary to, or an agent of, the Company or
any other person. Additionally, the Initial Purchasers are not advising the Company or any other person as to any legal, tax, investment, accounting or regulatory matters in any jurisdiction. The Company shall consult with its own advisors
concerning such matters and shall be responsible for making its own independent investigation and appraisal of the transactions contemplated hereby, and the Initial Purchasers shall have no responsibility or liability to the Company with respect
thereto. Any review by the Initial Purchasers of the Company and the transactions contemplated hereby or other matters relating to such transactions will be performed solely for the benefit of the Initial Purchasers and shall not be on behalf of the
Company. 
 (e) Each Initial Purchaser agrees that, prior to or simultaneously with the confirmation of sale by the Initial Purchaser to any
purchaser of any of the Securities purchased by the Initial Purchaser from the Company pursuant hereto, the Initial Purchaser shall furnish to that purchaser a copy of the Final Offering Memorandum. In addition to the foregoing, each Initial
Purchaser acknowledges and agrees that the Company, and for purposes of the opinions to be delivered to the Initial Purchasers 

  

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pursuant to Section 6(i) and (j), counsel for the Company and for the Initial Purchasers, respectively, may rely upon the accuracy of the
representations and warranties of each Initial Purchaser and its compliance with its agreements contained in this Section 2, and each Initial Purchaser hereby consents to such reliance. 
 3. Representations and Warranties of the Company. The Company represents and warrants to, and agrees with, the Initial Purchasers that:

 (a) Preliminary Offering Memorandum, Time of Sale Information and Final Offering Memorandum. The Preliminary Offering Memorandum, as
of its date, did not, the Time of Sale Information, at the Time of Sale, did not, and at the Closing Date and as of any Additional Closing Date, as the case may be, will not, and the Final Offering Memorandum, in the form first used by the Initial
Purchasers to confirm sales of the Securities and as of the Closing Date and as of any Additional Closing Date, as the case may be, will not, contain any untrue statement of a material fact or omit to state a material fact necessary in order to make
the statements therein, in the light of the circumstances under which they were made, not misleading; provided that the Company makes no representation or warranty with respect to any information contained in or omitted from the Preliminary
Offering Memorandum, any Time of Sale Information or the Final Offering Memorandum in reliance upon and in conformity with written information relating to the Initial Purchasers furnished to the Company by the Initial Purchasers expressly for use in
the Preliminary Offering Memorandum, the Time of Sale Information or the Final Offering Memorandum (the “Initial Purchasers’ Information”), which information is identified in Section 14. 
 (b) Additional Written Communications. The Company (including its agents and representatives, other than the Initial Purchasers in its capacity as
such) has not made, used, prepared, authorized, approved or referred to and will not prepare, make, use, authorize, approve or refer to any written communication that constitutes an offer to sell or solicitation of an offer to buy the Securities
except for (i) the Preliminary Offering Memorandum and the Final Offering Memorandum, (ii) the documents listed on Annex A hereto, including a term sheet substantially in the form of Annex B hereto, and (iii) other written
communications used in accordance with Section 4(c). 
 (c) Incorporated Documents. The documents incorporated by reference in
the Time of Sale Information and the Final Offering Memorandum, when they were filed with the Commission, conformed in all material respects to the requirements of the Securities Exchange Act of 1934, as amended and the applicable rules and
regulations of the Commission thereunder (the “Exchange Act”), and none of such documents contained an untrue statement of a material fact or omitted to state a material fact necessary to make the statements therein, in the light of
the circumstances under which they were made, not misleading; and any further documents so filed and incorporated by reference in the Time of Sale Information and the Final Offering Memorandum, when such documents are filed with the Commission, will
conform in all material respects to the requirements of the Exchange Act, and will not contain an untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under
which they were made, not misleading. 
  

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 (d) Financial Statements. The consolidated historical financial statements, together with the
related notes thereto, included or incorporated by reference in each of the Time of Sale Information and the Final Offering Memorandum fairly present the financial position of the Company at the respective dates indicated and the results of
operations and cash flows for the respective periods indicated, in each case in accordance with generally accepted accounting principles (“GAAP”) consistently applied throughout such periods. The other financial information and data
included or incorporated by reference in each of the Time of Sale Information and the Final Offering Memorandum are, in all material respects, accurately presented and prepared on a basis consistent with such financial statements and the books and
records of the Company. 
 (e) No Material Adverse Change. Neither the Company nor any of its subsidiaries has sustained, since the
date of the latest audited financial statements included or incorporated by reference in each of the Time of Sale Information and the Final Offering Memorandum, any material loss or interference with its business from fire, explosion, flood or other
calamity, whether or not covered by insurance, or from any labor dispute or court or governmental action, order or decree, otherwise than as set forth or contemplated in each of the Time of Sale Information and the Final Offering Memorandum; and,
since such date, there has not been any change in the capital stock or long-term debt of the Company on a consolidated basis or any material adverse change, or any development involving a prospective material adverse change, in or affecting the
general affairs, management, consolidated financial position, stockholders’ equity, results of operations, business or prospects of the Company and its subsidiaries taken as a whole, in each case otherwise than as set forth or contemplated in
each of the Time of Sale Information and the Final Offering Memorandum. 
 (f) Organization and Good Standing. The Company is duly
incorporated and validly existing and in good standing under the laws of Florida with all requisite corporate power and authority to own, lease and operate its properties and to conduct its business as described in each of the Time of Sale
Information and the Final Offering Memorandum, and is duly registered and qualified to conduct its business and is in good standing in each jurisdiction or place where the nature of its properties or the conduct of its business requires such
registration or qualification, except to the extent that the failure to be duly registered or qualified or in good standing, would not, individually or in the aggregate, have caused a material adverse effect on the general affairs, management,
consolidated financial position, stockholders’ equity, results of operations, business or prospects of the Company and the subsidiaries taken as a whole (a “Material Adverse Effect”), and none of the subsidiaries of the Company
other than SBA CMBS-1 Holdings LLC, SBA CMBS-1 Guarantor LLC, SBA Telecommunications, Inc., SBA Senior Finance Inc., SBA Senior Finance II LLC, SBA Properties, Inc., SBA Network Services, Inc., SBA Towers, Inc., SBA Sites, Inc., SBA Structures, Inc.
and SBA CMBS-1 Depositor LLC(collectively, the “Significant Subsidiaries”) is a “significant subsidiary” as such term is defined in Rule 405 under the Securities Act. 
  

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 (g) Each of the subsidiaries of the Company is duly organized and validly existing and in good standing
under the laws of the jurisdiction of its organization, with all requisite power and authority to own, lease and operate its properties and is duly registered and qualified to conduct its business and is in good standing in each jurisdiction or
place where the nature of its properties or the conduct of its business requires such registration or qualification, except where the failure to be duly registered or qualified would not, individually or in the aggregate, have caused a Material
Adverse Effect. The Company and the subsidiaries, as a whole, conduct their business as described in each of the Time of Sale Information and the Final Offering Memorandum. 
 (h) Capitalization of the Company. The Company has an authorized capitalization as set forth in each of the Time of Sale Information and the Final
Offering Memorandum, and all of the issued shares of capital stock of the Company have been duly and validly authorized and issued, are fully paid and non-assessable and conform in all material respects to the description thereof contained in each
of the Time of Sale Information and the Final Offering Memorandum. 
 (i) Capitalization of the Company’s Subsidiaries. All of
the issued shares of capital stock of each subsidiary of the Company have been duly authorized and validly issued and are fully paid and non-assessable, are owned directly or indirectly by the Company, and (except as set forth in each of the Time of
Sale Information and the Final Offering Memorandum with respect to shares subject to liens under or pursuant to the Second Loan and Security Agreement Supplement and Amendment, dated as of November 6, 2006, entered into among SBA Properties,
Inc., SBA Towers, Inc., SBA Puerto Rico, Inc., SBA Sites, Inc., SBA Towers USVI, Inc., and SBA Structures, Inc., as borrowers, and Midland Loan Services, Inc., as Servicer on behalf of LaSalle Bank National Association as Trustee, as amended,
supplemented or otherwise modified from time to time, the “Mortgage Loan” and the Credit Agreement, dated as of December 21, 2005, by and among SBA Senior Finance II LLC and the lenders from time to time parties thereto, as
amended, supplemented or otherwise modified from time to time (the “Revolving Senior Credit Agreement”) free and clear of all liens, encumbrances, equities, claims or adverse interests. 
 (j) Full Power. The Company has full right, power and authority to execute and deliver this Agreement, the Securities, the Indenture and the
Registration Rights Agreement (collectively, the “Transaction Documents”), and the Company has full right, power and authority to perform its obligations hereunder and thereunder; and, as of the Closing Date, all corporate action
required to be taken for the due and proper authorization, execution, issuance and delivery of each of the Transaction Documents and the consummation of the transactions contemplated thereby has been or will have been duly and validly taken. The
Company has the full right, power and authority to issue and deliver the Conversion Shares. 
 (k) The Indenture. The Indenture has
been duly authorized and, assuming the due authorization, execution and delivery of the Indenture by the Trustee, constitutes a valid and legally binding instrument, enforceable in accordance with its terms, subject, as to enforcement, to
bankruptcy, insolvency, reorganization and similar 

  

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laws relating to or affecting creditors’ rights and to general equity principles; on the Closing Date, the Indenture will conform in all material
respects to the requirements of the Trust Indenture Act of 1939, as amended (the “Trust Indenture Act”), and the rules and regulations of the Commission applicable to and indenture that is qualified thereunder; and the Indenture
conforms in all material respects to the descriptions thereof in each of the Time of Sale Information and the Final Offering Memorandum. 
 (l) The Securities. The Securities have been duly authorized and, when issued and delivered by the Company and paid for by the Initial Purchasers pursuant to this Agreement and duly authenticated by the Trustee will have been duly
executed, authenticated, issued and delivered and will constitute valid and legally binding obligations of the Company entitled to the benefits provided by the Indenture, and will be enforceable in accordance with their terms, subject, as to
enforcement, to bankruptcy, insolvency, reorganization and similar laws relating to or affecting creditors’ rights and to general equity principles; and the Securities conform in all material respects to the descriptions thereof in each of the
Time of Sale Information and the Final Offering Memorandum. The Securities will be convertible into Common Stock in accordance with their terms and the terms of the Indenture. 
 (m) The Conversion Shares. The Conversion Shares have been duly authorized by the Company and reserved for issuance by the Company upon such
conversion by all necessary corporate action and such Conversion Shares, when issued upon such conversion, will be duly issued, fully paid and non-assessable, and the issuance of such Conversion Shares will not be subject to preemptive or similar
rights of any shareholder of the Company arising by law, under the charter or by-laws of the Company or under any agreement to which the Company or any of its subsidiaries is a party. No holder of the Conversion Shares will be subject to personal
liability by reason of being such a holder. 
 (n) Purchase Agreement. This Agreement has been duly and validly authorized, executed
and delivered by the Company. 
 (o) Registration Rights Agreement. The Registration Rights Agreement has been duly authorized by the
Company and, when duly executed and delivered on the Closing Date in accordance with its terms by each of the parties thereto, will constitute a valid and legally binding agreement of the Company enforceable against the Company in accordance with
its terms, subject, as to enforcement, to bankruptcy, insolvency, reorganization and similar laws relating to or affecting creditors’ rights and to general equity principles, and except that rights to indemnity and contribution thereunder may
be limited by applicable law and public policy considerations. 
 (p) Descriptions of the Transaction Documents. Each Transaction
Document conforms in all material respects to the description thereof contained in each of the Time of Sale Information and the Final Offering Memorandum. The statements set forth in each of the Time of Sale Information and the Final Offering
Memorandum under the caption “Description of Notes” and “Registration Rights,” insofar as they purport to constitute a summary of the material terms of the Securities, under the captions 

  

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“Material United Stated Federal Income and Estate Tax Considerations” and “Plan of Distribution,” insofar as they purport to describe the
provisions of the documents referred to therein, fairly summarize in all material respects the matters referred to therein. The statements set forth in each of the Time of Sale Information and the Final Offering Memorandum under the captions
“Description of Capital Stock,” insofar as they purport to constitute a summary of the material terms of the Common Stock fairly summarize in all material respects the matters referred to therein. 
 (q) No Violation or Default. Neither the Company nor any of the Significant Subsidiaries (i) is in violation of its charter or by-laws,
(ii) is in default, and no event has occurred which, with notice or lapse of time or both, would constitute such a default, in the due performance or observance of any term, covenant or condition contained in any indenture, mortgage, deed of
trust, loan agreement or other agreement or instrument to which it is a party or by which it is bound or to which any of its properties or assets is subject or (iii) is in violation of any statute or any order, rule or regulation of any court
or governmental agency or body having jurisdiction over the Company or any of its subsidiaries or any of their properties or assets, other than, a default or violation described in clauses (ii) and (iii) which is not reasonably likely to
have a Material Adverse Effect. 
 (r) No Conflicts. The execution, delivery and performance of this Agreement by the Company and the
consummation of the transactions contemplated hereby will not conflict with, or result in a breach or violation of any of the terms or provisions of, or (including with the giving of notice or the lapse of time or both) constitute a default under
(i) any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which the Company or any of its subsidiaries is a party or by which the Company or any of its subsidiaries is bound or to which any of the properties
or assets of the Company or any of its subsidiaries is subject, (ii) the provisions of the charter, by-laws or other organizational documents of the Company or any of its subsidiaries, (iii) any internal policy of the Company or any of its
subsidiaries or (iv) to the knowledge of the Company, any statute or any order, rule or regulation of any court or governmental agency or body having jurisdiction over the Company or any of its subsidiaries or any of their properties or assets,
except in the cases of clause (i) or (iv), such breaches, violations or defaults that in the aggregate would not have a Material Adverse Effect. 
 (s) No Consents Required. No consent, approval, authorization or order of, or filing or registration with, any court or governmental agency or body is required for the execution, delivery and performance by the
Company of each of the Transaction Documents, the issuance, authentication, sale and delivery of the Securities and the Conversion Shares in accordance with the terms and conditions of the Indenture and compliance by the Company with the terms
thereof and the consummation of the transactions contemplated by the Transaction Documents, including the use of proceeds therewith as described in the Time of Sale Information and the Final Offering Memorandum, except for such consents, approvals,
authorizations, orders, filings and registrations which shall have been obtained or made prior to the Closing Date or as may be required to be obtained or made under the Trust Indenture Act, the Securities 

  

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Act and applicable state securities laws as contemplated in the Registration Rights Agreement. 
 (t) No Legal Impediment to Issuance. No action has been taken and no statute, rule, regulation or order has been enacted, adopted or issued by any
governmental agency or body which prevents the issuance of the Securities or the issuance of the Conversion Shares in accordance with the terms and conditions of the Indenture or suspends the sale of the Securities in any jurisdiction; no
injunction, restraining order or order of any nature by any federal or state court of competent jurisdiction has been issued with respect to the Company or any of its subsidiaries which would prevent or suspend the issuance, authentication, sale or
delivery of the Securities or the use of the Time of Sale Information or the Final Offering Memorandum in any jurisdiction; no action, suit or proceeding is pending against or, to the best knowledge of the Company, threatened against or affecting
the Company or any of its subsidiaries before any court or arbitrator or any governmental agency, body or official, domestic or foreign, which could reasonably be expected to interfere with or adversely affect the issuance of the Securities or in
any manner reasonably draws into question the validity or enforceability of any of the Transaction Documents or any action taken or to be taken pursuant thereto; and the Company has complied with any and all requests by any securities authority in
any jurisdiction for additional information to be included in the Time of Sale Information and the Final Offering Memorandum. 
 (u) Legal
Proceedings. There are no legal or governmental proceedings pending or, to the knowledge of the Company or its subsidiaries, threatened against the Company or any of its subsidiaries or to which any of their respective properties is subject,
that are not disclosed in the Time of Sale Information and the Final Offering Memorandum and which are reasonably likely to have a Material Adverse Effect or to materially affect the issuance of the Securities. 
 (v) Independent Accountants. Ernst & Young LLP, who have certified certain financial statements of the Company, whose report appears in
the Form 10-K incorporated by reference into the Time of Sale Information and the Final Offering Memorandum and who have delivered the initial letter referred to in Section 6(h), are independent public accountants as required by the Securities
Act and the applicable rules and regulations of the Commission thereunder and were independent accountants under the guidelines of the American Institute of Certified Public Accountants as required by the Securities Act and the applicable rules and
regulations of the Commission thereunder during the periods covered by the financial statements on which they reported incorporated by reference into the Time of Sale Information and the Final Offering Memorandum. 
 (w) Title to Real and Personal Property. The Company and each of its subsidiaries have good and marketable title in fee simple to or a leasehold
interest in all real property and good and valid title to all personal property owned by them, in each case free and clear of all liens, encumbrances, defects, equities or claims except for liens contemplated by the Mortgage Loan, the Revolving
Senior Credit Agreement or as are otherwise described in each of the Time of Sale Information and the Final Offering 

  

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Memorandum or such as do not materially affect the value of such property and do not materially interfere with the use made and proposed to be made of such
property by the Company and its subsidiaries; all assets held under lease by the Company and its subsidiaries are held by them under valid, subsisting and enforceable leases, with such exceptions as are not material and do not materially interfere
with the use made and proposed to be made of such assets by the Company and its subsidiaries taken as a whole; and the present and contemplated use of the assets owned or leased by the Company or any of its subsidiaries for the operation of towers
is in compliance in all material respects with all applicable zoning ordinances and regulations and other laws and regulations where failure so to comply would result, or create reasonable risk of resulting, in a Material Adverse Effect. 

(x) Title to Intellectual Property. The Company and each of its subsidiaries own or possess adequate rights to use all patents, patent
applications, trademarks, service marks, trade names, trademark registrations, service mark registrations, copyrights, inventions, know-how (including trade secrets and other unpatented and/or unpatentable proprietary or confidential information,
systems or procedures) and licenses necessary for the conduct of their respective businesses and have no reason to believe that the conduct of their respective businesses will conflict with, and have not received any notice of any claim of conflict
with, any such rights of others, in each case except as could not reasonably be expected to have a Material Adverse Effect. 
 (y) No
Undisclosed Relationships. No material relationship, direct or indirect, exists between or among the Company and the Significant Subsidiaries on the one hand, and the directors, officers, stockholders, affiliates, customers or suppliers of the
Company and the Significant Subsidiaries on the other hand, that would be required by the Securities Act to be described in a registration statement filed with the Commission and that is not so described in each of the Time of Sale Information and
the Final Offering Memorandum. 
 (z) Investment Company Act. Neither the Company nor any of its subsidiaries is currently or will be,
upon the sale of the Securities in accordance herewith and the application of the net proceeds therefrom as described in each of the Time of Sale Information and the Final Offering Memorandum under the caption “Use of Proceeds,” an
“investment company” within the meaning of and subject to regulation under the Investment Company Act of 1940, as amended (the “Investment Company Act”). 
 (aa) Taxes. Each of the Company and its subsidiaries has filed all federal, state and local income and franchise tax returns required to be filed
through the date hereof and has paid all taxes due thereon except where such failure would not have a Material Adverse Effect, and no tax deficiency has been determined adversely to the Company or any of its subsidiaries nor does the Company or any
of its subsidiaries have any knowledge of any tax deficiency which, if determined adversely to the Company, would have a Material Adverse Effect. 
  

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 (bb) FCC and FAA Matters. The Company and its subsidiaries (i) have duly and timely filed all
material reports, registrations and other material filings, if any, which are required to be filed by it or any of its subsidiaries under the Communications Act of 1934, any similar or successor federal statute, and the rules of the Federal
Communications Commission (the “FCC”) thereunder or any other applicable law, rule or regulation of any governmental authority, including the FCC and the Federal Aviation Authority (the “FAA”), other than such
filings for which the failure to file would not result, or would not be reasonably likely to result, in a Material Adverse Effect and (ii) are in compliance with all such laws, rules, regulations and ordinances, including those promulgated by
the FCC and the FAA, other than such compliance for which the failure to comply would not result, or would not be reasonably likely to result, in a Material Adverse Effect. All information provided by or on behalf of the Company or any affiliate in
any material filing, if any, with the FCC and the FAA relating to the business of the Company and its subsidiaries was, to the knowledge of such person at the time of filing, complete and correct in all material respects when made, and the FCC and
the FAA have been notified of any substantial or significant changes in such information as may be required in accordance with applicable requirements of law. The industry-related, tower-related and customer-related data and estimates included or
incorporated by reference in each of the Time of Sale Information and the Final Offering Memorandum are based on or derived from sources which the Company believes to be reliable and accurate. For each existing tower of the Company (or of its
subsidiaries) not yet registered with the FCC where registration will be required, the FCC’s grant of an application for registration of such tower will not have a significant environmental effect as defined under Section 1.1307(a) of the
FCC’s rules. 
 (cc) No Labor Disputes. Neither the Company nor any of its subsidiaries is involved in any strike or labor
dispute with any group of employees, and, to the knowledge of the Company or any of its subsidiaries, no such action or dispute is threatened, which might be expected to have a Material Adverse Effect. 
 (dd) Compliance With Environmental Laws. There has been no storage, disposal, generation, manufacture, refinement, transportation, handling or
treatment of toxic wastes, hazardous wastes or hazardous substances by the Company or any of its subsidiaries (or, to the knowledge of the Company, any of their predecessors in interest) at, upon or from any of the property now or previously owned
or leased by the Company or any of its subsidiaries in violation of any applicable law, ordinance, rule, regulation, order, judgment, decree or permit or which would require remedial action under any applicable law, ordinance, rule, regulation,
order, judgment, decree or permit, except for any violation or remedial action which would not have, or could not be reasonably likely to have, singularly or in the aggregate with all such violations and remedial actions, a Material Adverse Effect;
there has been no material spill, discharge, leak, emission, injection, escape, dumping or release of any kind onto such property or into the environment surrounding such property of any toxic wastes, medical wastes, solid wastes, hazardous wastes
or hazardous substances due to or caused by the Company or any of its subsidiaries or with respect to which the Company or any of its subsidiaries has knowledge, except for any such spill, discharge, leak, emission, injection, escape, dumping or
release which would not have or would not be reasonably likely to have, 

  

 12 

 
singularly or in the aggregate with all such spills, discharges, leaks, emissions, injections, escapes, dumpings and releases, a Material Adverse Effect; and
the terms “hazardous wastes,” “toxic wastes,” “hazardous substances” and “medical wastes” shall have the meanings specified in any applicable local, state, federal and foreign laws or regulations with respect
to environmental protection. 
 (ee) Compliance With ERISA. The Company is in compliance in all material respects with all presently
applicable provisions of the Employee Retirement Income Security Act of 1974, as amended, including the regulations and published interpretations thereunder (“ERISA”); no “reportable event” (as defined in ERISA) has
occurred with respect to any “pension plan” (as defined in ERISA) for which the Company would have any liability; the Company has not incurred nor expects to incur liability under (i) Title IV of ERISA with respect to termination of,
or withdrawal from, any “pension plan” or (ii) except where such liability would not have a Material Adverse Effect, Sections 412 or 4971 of the Internal Revenue Code of 1986, as amended, including the regulations and published
interpretations thereunder (the “Code”); and each “pension plan” for which the Company would have any liability that is intended to be qualified under Section 401(a) of the Code is so qualified in all material
respects and nothing has occurred, whether by action or by failure to act, which would cause the loss of such qualification. 
 (ff)
Disclosure Controls. The Company has established and maintains disclosure controls and procedures (as such term is defined in Rule 13a-15(e) under the Exchange Act), which (i) are designed to ensure that material information relating to
the Company, including its consolidated subsidiaries, is made known to the Company’s principal executive officer and its principal financial officer or persons performing similar functions by others within the Company, particularly during the
periods in which the periodic reports required under the Exchange Act are being prepared; (ii) have been evaluated for effectiveness as of December 31, 2006; and (iii) are effective in all material respects to perform the functions
for which they were established. Based on the evaluation of its disclosure controls and procedures as of December 31, 2006, the Company is not aware of (i) any significant deficiency in the design or operation of internal controls which
could adversely affect the Company’s ability to record, process, summarize and report financial data or any material weaknesses in internal controls that has not been remedied, except as described in each of the Time of Sale Information and the
Final Offering Memorandum or (ii) any fraud, whether or not material, that involves management or other employees who have a significant role in the Company’s internal controls. Since the date of the most recent evaluation of such
disclosure controls and procedures, there have been no significant changes in internal controls or in other factors that could significantly affect internal controls, including any corrective actions with regard to significant deficiencies and
material weaknesses. 
 (gg) Accounting Controls. The Company and its subsidiaries have a system of internal accounting controls
sufficient to provide reasonable assurance that (i) transactions are executed in accordance with management’s general or specific authorization; (ii) transactions are recorded as necessary to permit preparation of its consolidated
financial statements in conformity with GAAP and to maintain 

  

 13 

 
accountability for assets; (iii) access to assets is permitted only in accordance with management’s general or specific authorization; and
(iv) the reported accountability for assets is compared with existing assets at reasonable intervals. 
 (hh) Insurance. The
Company and each of its subsidiaries carry, or are covered by, insurance in such amounts and covering such risks as is adequate for the conduct of their respective businesses and the value of their respective properties and as is customary for
companies engaged in similar businesses in similar industries. 
 (ii) No Unlawful Payments. Neither the Company nor any of its
subsidiaries, nor, to the Company’s knowledge, any director, officer, agent, employee or other person associated with or acting on behalf of the Company or any of its subsidiaries, has used any corporate funds for any unlawful contribution,
gift, entertainment or other unlawful expense relating to political activity; made any direct or indirect unlawful payment to any foreign or domestic government official or employee from corporate funds; violated or is in violation of any provision
of the Foreign Corrupt Practices Act of 1977; or made any bribe, rebate, payoff, influence payment, kickback or other unlawful payment. 
 (jj) Solvency. On the Closing Date and immediately after giving effect to the issuance of the Securities and the consummation of the other transactions related thereto as described in each of the Time of Sale Information and the
Final Offering Memorandum, the Company will be Solvent. As used in this paragraph, the term “Solvent” means, with respect to a particular date, that on such date (i) the present fair market value (or present fair saleable value) of
the assets of the Company is not less than the total amount required to pay the probable liabilities of the Company on its total existing debts and other liabilities (including contingent liabilities, computed at the amount that, in light of all of
the facts and circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability) as they become absolute and matured; (ii) the Company is able to realize upon its assets and pay
its debts and other liabilities (including such contingent liabilities) as they mature and become due in the normal course of business; (iii) assuming consummation of the issuance of the Securities as contemplated by this Agreement, the Time of
Sale Information and the Final Offering Memorandum, the Company has not incurred, and does not propose to incur, debts that would be beyond its ability to pay as such debts and other liabilities mature; (iv) the Company is not engaged in any
business or transaction, and does not propose to engage in any business or transaction, for which its property would constitute unreasonably small capital after giving due consideration to the prevailing practice in the industry in which the Company
is engaged; and (v) the Company is not a defendant in any civil action that would result in a judgment that the Company is or would become unable to satisfy. 
 (kk) No Material Adverse Effect. Since the date of the latest audited consolidated financial statements of the Company incorporated by reference in each of the Time of Sale Information and the Final Offering
Memorandum, neither the Company nor any of its subsidiaries has incurred any liability or obligation, direct or contingent, or entered into any transaction, in each case not in the ordinary course of business, and that is material to the Company and
its subsidiaries, taken as a whole, and there has 

  

 14 

 
been no Material Adverse Effect, nor to the Company’s knowledge, after due inquiry, any development or event involving a prospective Material Adverse
Effect and, except as disclosed in or contemplated by each of the Time of Sale Information and the Final Offering Memorandum, since the date of the latest audited consolidated financial statements of the Company incorporated by reference in each of
the Time of Sale Information and the Final Offering Memorandum, there has been no (i) dividend or distribution of any kind declared, paid or made by the Company on any class of its capital stock, (ii) issuance of securities, other than the
securities issued pursuant to the the Company’s 1999 Equity Participation Plan, the Company’s 2001 Equity Participation Plan, the Company’s 1999 Employee Stock Purchase Plan and shares of common stock of the Company issued pursuant to
the registration statements on Form S-4 (File Nos. 333-71460, 333-46730 and 333-139005) or (iii) material increase in short-term or long-term debt of the Company on a consolidated basis. 
 (ll) No Restrictions on Subsidiaries. Except as described in the Time of Sale Information or the Final Offering Memorandum, no subsidiary of the
Company is currently prohibited, directly or indirectly, under any agreement or other instrument to which it is a party or is subject, from paying any dividends to the Company, from making any other distribution on such subsidiary’s capital
stock, from repaying to the Company any loans or advances to such subsidiary from the Company or from transferring any of such subsidiary’s properties or assets to the Company or any other subsidiary of the Company. 
 (mm) Rule 144A Eligibility. On the Closing Date, the Securities will not be of the same class as securities listed on a national securities
exchange registered under Section 6 of the Exchange Act or quoted in an automated inter-dealer quotation system; and each of the Preliminary Offering Memorandum and the Final Offering Memorandum, as of its respective date, contains all the
information that, if requested by a prospective purchaser of the Securities, would be required to be provided to such prospective purchaser pursuant to Rule 144A(d)(4) under the Securities Act. 
 (nn) No Integration. Neither the Company nor any of its affiliates (as defined in Rule 501(b) of Regulation D) has, directly or through any agent,
sold, offered for sale, solicited offers to buy or otherwise negotiated in respect of, any security (as defined in the Securities Act), that is or will be integrated with the sale of the Securities in a manner that would require registration of the
Securities under the Securities Act. 
 (oo) No General Solicitation. None of the Company or any of its affiliates or any other person
acting on its or their behalf (other than the Initial Purchasers, as to which no representation is made) has solicited offers for, or offered or sold, the Securities by means of any form of general solicitation or general advertising within the
meaning of Rule 502(c) of Regulation D. 
 (pp) Securities Law Exemptions. Assuming the accuracy of the representations and warranties
of the Initial Purchasers contained in Section 2(a), it is not necessary, in connection with the issuance and sale of the Securities to the Initial Purchasers and the offer, resale and delivery of the Securities by the Initial Purchasers

  

 15 

 
in the manner contemplated by this Agreement, the Time of Sale Information and the Final Offering Memorandum, to register the Securities under the Securities
Act or to qualify the Indenture under the Trust Indenture Act. 
 (qq) No Stabilization. Neither the Company, nor to its knowledge,
any of its affiliates, has taken or may take, directly or indirectly, any action designed to cause or result in, or which has constituted or which might reasonably be expected to constitute, the stabilization or manipulation of the price of the
shares of Common Stock (including the Conversion Shares) to facilitate the sale or resale of such shares. 
 (rr) Margin Rules.
Neither the issuance, authentication, sale and delivery of the Securities nor the application of the proceeds thereof by the Company as described in each of the Time of Sale Information and the Final Offering Memorandum will violate Regulation T, U
or X of the Board of Governors of the Federal Reserve System. 
 (ss) Sarbanes-Oxley Act. The Company is and, to the knowledge of the
Company, the Company’s directors and officers (in their capacities as such) are in compliance in all material respects with any applicable provision of the U.S. Sarbanes-Oxley Act of 2002 and the rules and regulations promulgated in connection
therewith, other than such failures relating to the Company’s assessment and evaluation of its application of lease accounting and leasehold depreciation practices and the resulting conclusion: (i) that the Company’s disclosure
controls and procedures were not effective as of December 31, 2004; (ii) that a material weakness in the Company’s internal control over financial reporting existed as of December 31, 2004; and (iii) that the Company’s
internal control over financial reporting was not effective as of December 31, 2004. 
 4. Further Agreements of the Company. The
Company agrees with the Initial Purchasers that: 
 (a) Delivery of Copies. The Company will deliver to the Initial Purchasers,
without charge, as many copies of the Preliminary Offering Memorandum, any other Time of Sale Information and the Final Offering Memorandum (including all amendments and supplements thereto) as the Initial Purchasers may reasonably request.

 (b) Offering Memorandum, Amendments or Supplements. Before finalizing the Preliminary Offering Memorandum or making or distributing
any amendment or supplement to any of the Time of Sale Information or the Final Offering Memorandum, the Company will furnish to the Initial Purchasers and counsel for the Initial Purchasers a copy of the proposed Preliminary or Final Offering
Memorandum or such amendment or supplement for review, and will not distribute any such proposed Preliminary or Final 

  

 16 

 
Offering Memorandum, amendment or supplement to which the Initial Purchasers reasonably object. 
 (c) Additional Written Communications. Before using, authorizing, approving or referring to any “written communication” (as defined in
the Securities Act) that constitutes an offer to sell or a solicitation of an offer to buy the Securities (an “Issuer Written Communication”) (other than written communications that are listed on Annex A hereto, the Preliminary
Offering Memorandum and the Final Offering Memorandum), the Company will furnish to the Initial Purchasers and counsel for the Initial Purchasers a copy of such written communication for review and will not use, authorize, approve or refer to any
such written communication to which the Initial Purchasers reasonably object. 
 Prior to the Closing Date, the Company will not issue any
press release or other communication directly or indirectly or hold any press conference with respect to the Company, its condition, financial or otherwise, or earnings, business affairs or business prospects (except for routine oral marketing
communications in the ordinary course of business and consistent with the past practices of the Company and of which the Initial Purchasers are notified), without the prior written consent of the Initial Purchasers, unless in the judgment of the
Company and its counsel, and after notification to the Initial Purchasers, such press release or communication is required by law. 
 (d)
Notice to the Initial Purchasers. The Company will advise the Initial Purchasers promptly, and confirm such advice in writing, (i) of the occurrence of any event which makes any statement of a material fact made in any of the Time of
Sale Information or the Final Offering Memorandum (as then amended or supplemented) untrue or which requires the making of any additions to or changes in any of the Time of Sale Information or the Final Offering Memorandum (as then amended or
supplemented) in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; (ii) of the issuance by any governmental or regulatory authority of any order preventing or suspending the use
of any of the Time of Sale Information or the Final Offering Memorandum or the initiation or, to the best knowledge of the Company, threatening of any proceeding for that purpose; and (iii) of the receipt by the Company of any notice with
respect to any suspension of the qualification of the Securities and Conversion Shares for offer and sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; and the Company will use its reasonable best efforts
to prevent the issuance of any such order preventing or suspending the use of any of the Time of Sale Information or the Final Offering Memorandum or suspending any such qualification of the Securities and, if any such order is issued, will obtain
as soon as possible the withdrawal thereof. 
 (e) Ongoing Compliance of the Time of Sale Information and the Final Offering
Memorandum. (1) If at any time prior to the Closing Date or the Additional 

  

 17 

 
Closing Date, as the case may be, (i) any event shall occur or condition shall exist as a result of which any of the Time of Sale Information as then
amended or supplemented would include any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading or
(ii) it is necessary to amend or supplement any of the Time of Sale Information to comply with law, the Company will immediately notify the Initial Purchasers thereof and forthwith prepare and, subject to paragraph (b) above, furnish to
the Initial Purchasers such amendments or supplements to any of the Time of Sale Information (or any document to be filed with the Commission and incorporated by reference therein) as may be necessary so that the statements in any of the Time of
Sale Information as so amended or supplemented (including, if applicable, such document to be incorporated by reference therein) will not, in light of the circumstances under which they were made, be misleading or so that the Time of Sale
Information will comply with law, and (2) if at any time prior to the completion of the resale of the Securities by the Initial Purchasers (i) any event shall occur or condition shall exist as a result of which the Final Offering
Memorandum as then amended or supplemented would include any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances existing when the Final Offering
Memorandum is delivered to a purchaser, not misleading or (ii) it is necessary to amend or supplement the Final Offering Memorandum to comply with law, the Company will immediately notify the Initial Purchasers thereof and forthwith prepare
and, subject to paragraph (b) above, furnish to the Initial Purchasers such amendments or supplements to the Final Offering Memorandum (or any document to be filed with the Commission and incorporated by reference therein) as may be necessary
so that the statements in the Final Offering Memorandum as so amended or supplemented (including, if applicable, such document to be incorporated by reference therein) will not, in the light of the circumstances existing when the Final Offering
Memorandum is delivered to a purchaser, be misleading or so that the Final Offering Memorandum will comply with law. 
 (f) Blue Sky
Compliance. The Company will qualify the Securities for offer and sale under the securities or Blue Sky laws of such jurisdictions as the Initial Purchasers shall reasonably request and will continue such qualifications in effect so long as
required for the offering and resale of the Securities; provided that the Company shall not be required to (i) qualify as a foreign corporation in any such jurisdiction where it would not otherwise be required to so qualify,
(ii) file any general consent to service of process in any such jurisdiction or (iii) subject itself to taxation in any such jurisdiction if it is not otherwise so subject. 
 (g) Use of Proceeds. The Company will apply the net proceeds from the sale of the Securities as described in each of the Time of Sale Information
and the Final Offering Memorandum under the heading “Use of Proceeds.” 
 (h) Supplying Information. While the Securities or
the Conversion Shares remain outstanding and are “restricted securities” within the meaning of Rule 144(a)(3) under the Securities Act, the Company will, during any period in which the Company is not subject to and in compliance with
Section 13 or 15(d) of the Exchange Act, furnish 

  

 18 

 
to holders of the Securities or Conversion Shares and prospective purchasers of the Securities or Conversion Shares designated by such holders, upon the
request of such holders or such prospective purchasers, the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act. 
 (i) PORTAL and DTC. The Company will assist the Initial Purchasers in arranging for the Securities to be designated Private Offerings, Resales and Trading through Automated Linkages (“PORTAL”)
Market securities in accordance with the rules and regulations adopted by the National Association of Securities Dealers, Inc. (the “NASD”) relating to trading in the PORTAL Market and for the Securities to be eligible for clearance
and settlement through The Depository Trust Company (“DTC”). 
 (j) Listing. The Company will use its reasonable best
efforts to effect and maintain the listing of any Conversion Shares on the NASDAQ Global Select Market, the NASDAQ Select Market, the New York Stock Exchange (“NYSE”) or another U.S. national securities exchange or established
automated over-the-counter trading market in the United States of America. 
 (k) No Resales by the Company. During the two-year
period from the Closing Date, the Company will not, and will not permit any of its affiliates (as defined in Rule 144 under the Securities Act) to, resell any of the Securities or Conversion Shares that have been acquired by any of them, except
for Securities or Conversion Shares purchased by the Company or any of its affiliates and resold in a transaction registered under the Securities Act. 
 (l) No Integration. Neither the Company nor any of its affiliates (as defined in Rule 501(b) of Regulation D) will, directly or through any agent, sell, offer for sale, solicit offers to buy or otherwise
negotiate in respect of, any security (as defined in the Securities Act), that is or will be integrated with the sale of the Securities in a manner that would require registration of the Securities under the Securities Act. 
 (m) No General Solicitation. None of the Company or any of its affiliates or any other person acting on its or their behalf (other than the
Initial Purchasers, as to which no covenant is given) will (i) solicit offers for, or offer or sell, the Securities by means of any form of general solicitation or general advertising within the meaning of Rule 502(c) of Regulation D or in any
manner involving a public offering within the meaning of Section 4(2) of the Securities Act; or (ii) offer, sell, contract to sell or otherwise dispose of, directly or indirectly, any securities under circumstances where such offer, sale,
contract or disposition would cause the exemption afforded by Section 4(2) of the Securities Act to cease to be applicable to the offering and sale of the Securities and the Conversion Shares as contemplated by this Agreement, any of the Time
of Sale Information and the Final Offering Memorandum. 
 (n) No Stabilization. Neither the Company, nor to its knowledge, any of its
affiliates, will take, directly or indirectly, any action designed to or that could reasonably be expected to cause or result in any stabilization or manipulation of the price of the Securities or the Common Stock and neither the Company nor any of
its affiliates has 

  

 19 

 
taken or will take, directly or indirectly, any action prohibited by Regulation M under the Exchange Act in connection with the offering of the Securities.

 (o) Clear Market. Except as provided in Section 4(p), during the period from the date hereof through and including the date
that is ninety (90) calendar days after the date hereof, the Company will not, without the prior written consent of the Initial Purchasers, offer, sell, contract to sell or otherwise dispose of any debt securities issued or guaranteed by the
Company and having a tenor of more than one year. 
 (p) Lock-Up. For a period of ninety (90) calendar days following the date of
this Agreement, not to, directly or indirectly, (1) offer for sale, sell, pledge or otherwise dispose of (or enter into any transaction or device which is designed to, or could be expected to, result in the disposition by any person at any time
in the future of) any shares of Common Stock (including, without limitation, shares of Common Stock that may be deemed to be beneficially owned by the undersigned in accordance with the rules and regulations of the Commission and shares of Common
Stock that may be issued upon exercise of any option or warrant) or securities convertible into or exchangeable for Common Stock (other than shares of Common Stock issued pursuant to employee benefit plans, qualified stock option plans or other
employee compensation plans existing on the date hereof or pursuant to currently outstanding options, warrants or rights or shares issued pursuant to registration statements on Form S-4 in connection with acquisition transactions or earn-out
obligations under acquisition transactions) or substantially similar securities, or sell or grant options, rights or warrants with respect to any shares of Common Stock or securities convertible into or exchangeable for Common Stock or substantially
similar securities (other than the grant of options pursuant to option plans existing on the date hereof), or (2) enter into any swap or other derivatives transaction that transfers to another, in whole or in part, any of the economic benefits
or risks of ownership of such shares of Common Stock, whether any such transaction described in clause (1) or (2) above is to be settled by delivery of Common Stock or other securities, in cash or otherwise, (3) make any demand for or
exercise any right or file or cause to be filed a registration statement, including any amendments thereto, with respect to the registration of any shares of Common Stock or securities convertible, exercisable or exchangeable into Common Stock or
any other securities of the Company or (4) publicly disclose the intention to do any of the foregoing, in each case without the prior written consent of the Representatives (it being understood the Company may issue Common Stock issuable upon
the conversion of the Securities and the Company may enter into the convertible note hedge and warrant option transactions in connection with the issuance of the Securities as described in each of the Time of Sale Information and the Final Offering
Memorandum); and to cause Jeffrey A. Stoops to furnish to the Initial Purchasers, prior to the Closing Date, a letter substantially in the form of Exhibit A hereof. 
 (q) Conversion Shares. The Company will reserve and keep available at all times, free of preemptive rights, the maximum number of Conversion Shares. 
  

 20 

 (r) Conversion Price. Between the date hereof and the Closing Date, the Company will not do or
authorize any act or thing that would result in an adjustment of the conversion price or conversion rate of the Securities. 
 (s) No
Action. The Company will not initiate any action prior to the Closing Date which would require any of the Time of Sale Information or the Final Offering Memorandum to be amended or supplemented pursuant to Section 4(e). 
 5. Certain Agreements of the Initial Purchasers. Each Initial Purchaser hereby severally represents and agrees that it has not and will not use,
authorize use of, refer to, or participate in the planning for use of, any written communication that constitutes an offer to sell or the solicitation of an offer to buy the Securities or the Conversion Shares other than (i) the Time of Sale
Information and the Final Offering Memorandum, (ii) a written communication that contains no “issuer information” (as defined in Rule 433(h)(2) under the Securities Act) that was not included (including through incorporation by
reference) in the Time of Sale Information or the Final Offering Memorandum, (iii) any written communication listed on Annex A or prepared pursuant to Section 4(c) above, (iv) any written communication prepared by the Initial
Purchasers and approved by the Company in advance in writing or (v) any written communication relating to or that contains the terms of the Securities or the Conversion Shares and/or other information that was included or incorporated by
reference in the Time of Sale Information or the Final Offering Memorandum. 
 6. Conditions of Initial Purchasers’ Obligations.
The obligation of the Initial Purchasers to purchase the Firm Securities on the Closing Date or the Additional Securities on the Additional Closing Date, as the case may be, as provided herein is subject to the performance by the Company of its
covenants and other obligations hereunder and to the following additional conditions: 
 (a) Representations and Warranties. The
representations and warranties of the Company contained herein shall be true and correct on the date hereof and on and as of the Closing Date; and the statements of the Company and its officers made in any certificates delivered pursuant to this
Agreement shall be true and correct on and as of the Closing Date or the Additional Closing Date, as the case may be. 
 (b) The Time of
Sale Information and Final Offering Memorandum. The Time of Sale Information and the Final Offering Memorandum (and any amendments or supplements thereto) shall have been printed and copies distributed to the Initial Purchasers as promptly as
practicable on or following the date of this Agreement or at such other date and time as to which the Initial Purchasers may agree. If any event shall have occurred that requires the Company under Section 4(e) to prepare an amendment or
supplement to any of the Time of Sale Information and the Final Offering Memorandum, such amendment or supplement shall have been prepared, the Initial Purchasers shall have been given a reasonable opportunity to comment thereon, and copies thereof
shall have been delivered to the Initial Purchasers reasonably in advance of the Closing Date or the Additional Closing Date, as the case may be. 
  

 21 

 (c) Ongoing Compliance of the Time of Sale Information and Final Offering Memorandum. The Initial
Purchasers shall not have discovered and disclosed to the Company (1) on or prior to the Closing Date that any of the Time of Sale Information contains an untrue statement of fact which, in the opinion of counsel for the Initial Purchasers, is
material or omits to state any fact which, in the opinion of such counsel, is material and is necessary to make the statements therein not misleading and (2) on or prior to the Closing Date that the Final Offering Memorandum (and any amendments
or supplements thereto) contains an untrue statement of fact which, in the opinion of counsel for the Initial Purchasers, is material or omits to state any fact which, in the opinion of such counsel, is material and necessary to make the statements
therein not misleading. 
 (d) Required Corporate Actions. All corporate proceedings and other legal matters incident to the
authorization, form and validity of the Transaction Documents, the Time of Sale Information and the Final Offering Memorandum (and any amendments or supplements thereto), and all other legal matters relating to the Transaction Documents and the
transactions contemplated thereby shall be reasonably satisfactory in all material respects to counsel for the Initial Purchasers, and the Company shall have furnished to such counsel all documents and information that they may reasonably request to
enable them to pass upon such matters. 
 (e) No Downgrade. Subsequent to the execution and delivery of this Agreement (i) no
downgrading shall have occurred in the rating accorded the Company’s debt securities by any “nationally recognized statistical rating organization,” as that term is defined by the Commission for purposes of Rule 436(g)(2) under the
Securities Act and (ii) no such organization shall have publicly announced that it has under surveillance or review, with possible negative implications, its rating of any of the Company’s debt securities. 
 (f) No Material Adverse Change. (i) Neither the Company nor any of its subsidiaries shall have sustained since the date of the latest audited
financial statements included or incorporated by reference in the Time of Sale Information and the Final Offering Memorandum (exclusive of any amendment or supplement thereto) any loss or interference with its business from fire, explosion, flood or
other calamity, whether or not covered by insurance, or from any labor dispute or court or governmental action, order or decree, otherwise than as set forth or contemplated in the Time of Sale Information and the Final Offering Memorandum or
(ii) otherwise than as set forth or contemplated in the Time of Sale Information and the Final Offering Memorandum (exclusive of any amendment or supplement thereto), since such date there shall not have been any change in the capital stock,
except pursuant to the Company’s 1999 Equity Participation Plan, 2001 Equity Participation Plan, the Company’s 1999 Employee Stock Purchase Plan, shares of common stock of the Company issued pursuant to the registration statements on Form
S-4 (File Nos. 333-71460, 333-46730 and 333-139005) or long-term debt of the Company or any of its subsidiaries or any change, or any development involving a prospective change, that would have a Material Adverse Effect, the effect of which, in any
such case described in clause (i) or (ii), is, in the judgment of the Representatives, so material and adverse as to make it 

  

 22 

 
impracticable or inadvisable to proceed with the payment for and delivery of the Securities being delivered on the Closing Date or the Additional Closing
Date, as the case may be, on the terms and in the manner contemplated by this Agreement, the Time of Sale Information and the Final Offering Memorandum (exclusive of any amendment or supplement thereto). 
 (g) Officers’ Certificates. The Initial Purchasers shall have received on and as of the Closing Date or the Additional Closing Date, as the
case may be, a certificate of the Company’s chief executive officer or president and chief financial officer stating that (i) such officers have carefully reviewed the Time of Sale Information and the Final Offering Memorandum;
(ii) to the best knowledge of such officers, the Time of Sale Information, at the time of sale and at the Closing Date, did not, and the Final Offering Memorandum, as of its date and at the Closing Date, did not include any untrue statement of
a material fact and did not omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and since the date of each of the Time of Sale Information and the
Final Offering Memorandum, no event has occurred which should have been set forth in a supplement or amendment to any of the Time of Sale Information and the Final Offering Memorandum so that the Time of Sale Information and the Final Offering
Memorandum (as so amended or supplemented) would not include any untrue statement of a material fact and would not omit to state a material fact necessary to make the statements therein, under the light of the circumstances under which they were
made, not misleading; and (iii) as of the Closing Date or the Additional Closing Date, as the case may be, the representations and warranties of the Company in this Agreement are true and correct, the Company has complied with all agreements
and satisfied all conditions on its part to be performed or satisfied hereunder at or prior to the Closing Date or the Additional Closing Date, as the case may be. 
 (h) Comfort Letters. On the date of this Agreement and on the Closing Date or the Additional Closing Date, as the case may be, Ernst & Young LLP shall have furnished to the Initial Purchasers, at the
request of the Company, letters, dated the respective dates of delivery thereof and addressed to the Initial Purchasers, in form and substance reasonably satisfactory to the Initial Purchasers, containing statements and information of the type
customarily included in accountants’ “comfort letters” to underwriters with respect to the financial statements and certain financial information contained or incorporated by reference in each of the Time of Sale Information and the
Final Offering Memorandum; provided that the letter delivered on the Closing Date or the Additional Closing Date, as the case may be, shall use a “cut-off” date no more than three (3) Business Days prior to such Closing Date or
such Additional Closing Date, as the case may be. 
 (i) Opinion of Counsel for the Company. Holland & Knight LLP, counsel
for the Company, shall have furnished to the Initial Purchasers, at the request of the Company, their written opinion, dated the Closing Date or the Additional Closing Date, as the case may be, and addressed to the Initial Purchasers, in form and
substance reasonably satisfactory to the Initial Purchasers, to the effect set forth in Annex C hereto. 
  

 23 

 (j) Opinion and Statement of Counsel for the Initial Purchasers. The Initial Purchasers shall have
received on and as of the Closing Date an opinion and statement of Simpson Thacher & Bartlett LLP, counsel for the Initial Purchasers, with respect to such matters as the Initial Purchasers may reasonably request, and such counsel shall
have received such documents and information as they may reasonably request to enable them to pass upon such matters. 
 (k) Opinion of
FCC Counsel for the Company. Wiley Rein LLP, FCC counsel for the Company, shall have furnished to the Initial Purchasers, at the request of the Company, their written opinion, dated the Closing Date or the Additional Closing Date, as the case
may be, and addressed to the Initial Purchasers, in form and substance reasonably satisfactory to the Initial Purchasers. 
 (l) No Legal
Impediment to Issuance. No action shall have been taken and no statute, rule, regulation or order shall have been enacted, adopted or issued by any federal, state or foreign governmental or regulatory authority that would, as of the Closing Date
or the Additional Closing Date, as the case may be, prevent the issuance or sale of the Securities or the issuance of the Conversion Shares; and no injunction or order of any federal, state or foreign court shall have been issued that would, as of
the Closing Date or the Additional Closing Date, as the case may be, prevent the issuance or sale of the Securities or the issuance of the Conversion Shares. 
 (m) No Rule 144A Invalidation. There shall not have occurred any invalidation of Rule 144A under the Securities Act by any court or withdrawal or proposed withdrawal of any rule or regulation under the
Securities Act or the Exchange Act by the Commission or any amendment or proposed amendment thereof by the Commission which in the judgment of the Initial Purchasers would materially impair the ability of the Initial Purchasers to purchase, hold or
effect resales of the Securities contemplated hereby. 
 (n) Good Standing. The Initial Purchasers shall have received on and as of
the Closing Date or the Additional Closing Date, as the case may be, satisfactory evidence of the good standing of the Company and its subsidiaries listed on Schedule 2 in their respective jurisdictions of incorporation or formation and their good
standing as foreign entities in such other jurisdictions as the Initial Purchasers may reasonably request, in each case in writing or any standard form of telecommunication from the appropriate governmental authorities of such jurisdictions.

 (o) Indenture and Securities. The Indenture shall have been duly executed and delivered by the Company and the Trustee, and the
Securities shall have been duly executed and delivered by the Company and duly authenticated by the Trustee. 
 (p) Registration Rights
Agreement. The Initial Purchasers shall have received a counterpart of the Registration Rights Agreement that shall have been duly executed and delivered by the Company. 
  

 24 

 (q) PORTAL and DTC. The Securities shall have been approved by the NASD for trading in the PORTAL
Market and shall be eligible for clearance and settlement through DTC. 
 (r) Listing. The NASDAQ Global Select Market System shall
have approved the Conversion Shares for listing, subject only to official notice of issuance and evidence of satisfactory distribution. 
 (s) No Default. There shall exist at and as of the Closing Date or the Additional Closing Date, as the case may be, no conditions that would constitute a default (or an event that with notice or the lapse of time, or both, would
constitute a default) under the Mortgage Loan and the Revolving Senior Credit Agreement. 
 (t) Market Events. Subsequent to the
execution and delivery of this Agreement there shall not have occurred any of the following: (i) trading in securities generally on the NYSE, the NASDAQ Global Select Market, the NASDAQ Select Market or the American Stock Exchange or in the
over-the-counter market, or trading in any securities of the Company on any exchange or in the over-the-counter market, shall have been suspended or minimum prices shall have been established on any such exchange or such market by the Commission, by
such exchange or by any other regulatory body or governmental authority having jurisdiction, (ii) a material disruption in securities settlement, payment or clearance services in the United States, (iii) a banking moratorium shall have
been declared by federal or state authorities, (iv) any attack on, outbreak or escalation of hostilities or act of terrorism involving the United States, any declaration of war by Congress or any other national or international calamity, crisis
or emergency if, in the judgment of the Representatives, the effect of any such attack, outbreak, escalation, act, declaration, calamity, crisis or emergency makes it impractical or inadvisable to proceed with the completion of the offering or sale
of and payment for the Securities, or (v) the occurrence of any other calamity, crisis (including without limitation as a result of terrorist activities), or material adverse change in general economic, political or financial conditions (or the
effect of international conditions on the financial markets in the United States shall be such) as to make it, in the judgment of the Representatives, impracticable or inadvisable to proceed with the public offering or delivery of the Securities
being delivered on the Closing Date or the Additional Closing Date, as the case may be, on the terms and in the manner contemplated by this Agreement, the Time of Sale Information and the Final Offering Memorandum or that, in the judgment of the
Representatives, would materially and adversely affect the financial markets or the markets for the Securities and/or debt securities. 
 (u)
Additional Documents. On or prior to the Closing Date or the Additional Closing Date, as the case may be, the Company shall have furnished to the Initial Purchasers such further certificates and documents as the Initial Purchasers may
reasonably request. 
 (v) Lock-up Agreement. The Company shall have furnished to the Initial Purchasers on the date hereof a letter
substantially in the form of Exhibit A hereof from Jeffrey A. Stoops addressed to the Initial Purchasers. 
  

 25 

 (w) Note Hedge and Warrant. The conditions to the effectiveness of the convertible note hedge and
warrant option transactions in connection with the issuance of the Securities, as described in each of the Time of Sale Information and the Final Offering Memorandum, shall have been satisfied. 
 All opinions, letters, certificates and evidence mentioned above or elsewhere in this Agreement shall be deemed to be in compliance with the provisions
hereof only if they are in form and substance reasonably satisfactory to counsel for the Initial Purchasers. 
 7. Indemnification and
Contribution. 
 (a) Indemnification of the Initial Purchasers. The Company agrees to indemnify and hold harmless the Initial
Purchasers, their respective affiliates, directors and officers and each person, if any, who controls the Initial Purchasers within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, from and against any and
all losses, claims, damages and liabilities (including, without limitation, legal fees and other expenses incurred in connection with any suit, action or proceeding or any claim asserted, as such fees and expenses are incurred), joint or several,
that arise out of, or are based upon, any untrue statement or alleged untrue statement of a material fact contained in the Preliminary Offering Memorandum or any of the other Time of Sale Information, any Issuer Written Communication, the Final
Offering Memorandum (or any amendment or supplement thereto), in any materials or information provided to investors by, or with the approval of, the Company in connection with the marketing of the offering of the Securities or in any information
provided by the Company pursuant to Section 4(e), any omission or alleged omission to state therein a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading,
in each case except insofar as such losses, claims, damages or liabilities arise out of, or are based upon, any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with any Initial
Purchasers’ Information. 
 (b) Indemnification of the Company. Each Initial Purchaser, severally and not jointly, agrees to
indemnify and hold harmless the Company, each of its affiliates, directors and officers and each person, if any, who controls the Company within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act to the same
extent as the indemnity set forth in paragraph (a) above, but only with respect to any losses, claims, damages or liabilities that arise out of, or are based upon, any untrue statement or omission or alleged untrue statement or omission made in
reliance upon and in conformity with any Initial Purchasers’ Information. 
 (c) Notice and Procedures. If any suit, action,
proceeding (including any governmental or regulatory investigation), claim or demand shall be brought or asserted against any person in respect of which indemnification may be sought pursuant to either paragraph (a) or (b) above, such
person (the “Indemnified Person”) shall promptly notify the person against whom such indemnification may be sought (the “Indemnifying Person”) in writing; provided that the failure to notify the Indemnifying
Person shall not 

  

 26 

 
relieve it from any liability that it may have under this Section 7 except to the extent that it has been materially prejudiced (through the forfeiture
of substantive rights or defenses) by such failure; and provided, further, that the failure to notify the Indemnifying Person shall not relieve it from any liability that it may have to an Indemnified Person otherwise than under this
Section 7. If any such proceeding shall be brought or asserted against an Indemnified Person and it shall have notified the Indemnifying Person thereof, the Indemnifying Person shall retain counsel reasonably satisfactory to the Indemnified
Person (who shall not, without the consent of the Indemnified Person, be counsel to the Indemnifying Person) to represent the Indemnified Person and any others entitled to indemnification pursuant to this Section 7 that the Indemnifying Person
may designate in such proceeding and shall pay the fees and expenses of such counsel related to such proceeding, as incurred. In any such proceeding, any Indemnified Person shall have the right to retain its own counsel, but the fees and expenses of
such counsel shall be at the expense of such Indemnified Person unless (i) the Indemnifying Person and the Indemnified Person shall have mutually agreed to the contrary; (ii) the Indemnifying Person has failed within a reasonable time to
retain counsel reasonably satisfactory to the Indemnified Person; (iii) the Indemnified Person shall have reasonably concluded that there may be legal defenses available to it that are different from or in addition to those available to the
Indemnifying Person; or (iv) the named parties in any such proceeding (including any impleaded parties) include both the Indemnifying Person and the Indemnified Person and representation of both parties by the same counsel would be
inappropriate due to actual or potential differing interests between them. It is understood and agreed that the Indemnifying Person shall not, in connection with any proceeding or related proceeding in the same jurisdiction, be liable for the fees
and expenses of more than one separate firm (in addition to any local counsel) for all Indemnified Persons, and that all such fees and expenses shall be reimbursed as they are incurred. Any such separate firm for the Initial Purchasers, their
respective affiliates, directors and officers and any control persons of the Initial Purchasers shall be designated in writing by the Initial Purchasers and any such separate firm for the Company, its directors and officers and any control persons
of the Company shall be designated in writing by the Company. The Indemnifying Person shall not be liable for any settlement of any proceeding effected without its written consent, but if settled with such consent or if there be a final judgment for
the plaintiff, the Indemnifying Person agrees to indemnify each Indemnified Person from and against any loss or liability by reason of such settlement or judgment. Notwithstanding the foregoing sentence, if at any time an Indemnified Person shall
have requested that an Indemnifying Person reimburse the Indemnified Person for fees and expenses of counsel as contemplated by this paragraph, the Indemnifying Person shall be liable for any settlement of any proceeding effected without its written
consent if (i) such settlement is entered into more than thirty (30) calendar days after receipt by the Indemnifying Person of such request and (ii) the Indemnifying Person shall not have reimbursed the Indemnified Person in
accordance with such request prior to the date of such settlement. No Indemnifying Person shall, without the written consent of the Indemnified Person, effect any settlement of any pending or threatened proceeding in respect of which any Indemnified
Person is or could have been a party and indemnification could have been sought hereunder by such Indemnified Person, unless 

  

 27 

 
such settlement (x) includes an unconditional release of such Indemnified Person, in form and substance reasonably satisfactory to such Indemnified
Person, from all liability on claims that are the subject matter of such proceeding and (y) does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any Indemnified Person. 

(d) Contribution. If the indemnification provided for in paragraphs (a) and (b) above is unavailable to an Indemnified Person or
insufficient in respect of any losses, claims, damages or liabilities referred to therein, then each Indemnifying Person under such paragraph, in lieu of indemnifying such Indemnified Person thereunder, shall contribute to the amount paid or payable
by such Indemnified Person as a result of such losses, claims, damages or liabilities (i) in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and the Initial Purchasers on the other from
the offering of the Securities or (ii) if the allocation provided by clause (i) is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) but also the
relative fault of the Company on the one hand and the Initial Purchasers on the other in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities, as well as any other relevant equitable
considerations. The relative benefits received by the Company on the one hand and the Initial Purchasers on the other shall be deemed to be in the same respective proportions as the net proceeds (before deducting expenses) received by the Company
from the sale of the Securities and the total discounts and commissions received by the Initial Purchasers in connection therewith, as provided in this Agreement, bear to the aggregate offering price of the Securities. The relative fault of the
Company on the one hand and the Initial Purchasers on the other shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact
relates to the Company or information supplied by the Company or Initial Purchasers’ Information supplied by the Initial Purchasers and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent
such statement or omission. 
 (e) Limitation on Liability. The Company and the Initial Purchasers agree that it would not be just and
equitable if contribution pursuant to this Section 7 were determined by pro rata allocation or by any other method of allocation that does not take account of the equitable considerations referred to in paragraph (d) above.
The amount paid or payable by an Indemnified Person as a result of the losses, claims, damages and liabilities referred to in paragraph (d) above shall be deemed to include, subject to the limitations set forth above, any legal or other
expenses incurred by such Indemnified Person in connection with any such action or claim. Notwithstanding the provisions of this Section 7, in no event shall the Initial Purchasers be required to contribute any amount in excess of the amount by
which the total discounts and commissions received by the Initial Purchasers with respect to the offering of the Securities exceeds the amount of any damages that the Initial Purchasers have otherwise been required to pay by reason of such untrue or
alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of 

  

 28 

 
the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. 
 (f) Non-Exclusive Remedies. The remedies provided for in this Section 7 are not exclusive and shall not limit any rights or remedies that may
otherwise be available to any Indemnified Person at law or in equity. 
 8. Defaulting Initial Purchasers. If, on any Closing Date or
Additional Closing Date, as the case may be, any Initial Purchaser defaults in the performance of its obligations under this Agreement, the remaining non-defaulting Initial Purchasers shall be obligated to purchase the Securities that the defaulting
Initial Purchasers agreed but failed to purchase on such Closing Date or Additional Closing Date, as the case may be, in the respective proportions which the principal amount of the Firm Securities set forth opposite the name of each remaining
non-defaulting Initial Purchaser in Schedule 1 hereto bears to the aggregate principal amount of the Firm Securities set forth opposite the names of all the remaining non-defaulting Initial Purchasers in Schedule 1 hereto; provided, however,
that the remaining non-defaulting Initial Purchasers shall not be obligated to purchase any of the Securities on such Closing Date or Additional Closing Date, as the case may be, if the aggregate principal amount of the Securities that the
defaulting Initial Purchaser or Initial Purchasers agreed but failed to purchase on such date exceeds 9.09% of the aggregate principal amount of the Securities to be purchased on such Closing Date or Additional Closing Date, as the case may be, and
any remaining non-defaulting Initial Purchaser shall not be obligated to purchase more than 110% of the principal amount of the Securities that it agreed to purchase on such Closing Date or Additional Closing Date, as the case may be, pursuant to
the terms of Section 2. If the foregoing maximums are exceeded, the remaining non-defaulting Initial Purchasers shall have the right, but shall not be obligated, to purchase, in such proportion as may be agreed upon among them, all the
Securities to be purchased on such Closing Date or Additional Closing Date, as the case may be. If the remaining Initial Purchasers do not elect to purchase the principal amount of Securities that the defaulting Initial Purchaser or Initial
Purchasers agreed but failed to purchase on such Closing Date or Additional Closing Date, as the case may be, this Agreement (or, with respect to any Additional Closing Date, the obligation of the Initial Purchasers to purchase the Additional
Securities) shall terminate without liability on the part of any non-defaulting Initial Purchaser or the Company, except that the Company will continue to be liable for the payment of expenses to the extent set forth in Section 10. As used in
this Agreement, the term “Initial Purchaser” includes, for all purposes of this Agreement unless the context requires otherwise, any party not listed in Schedule 1 hereto that, pursuant to this Section 8, purchases Securities that a
defaulting Initial Purchaser agreed but failed to purchase. 
 Nothing contained herein shall relieve a defaulting Initial Purchaser of any
liability it may have to the Company for damages caused by its default. If other Initial Purchasers are obligated or agree to purchase the Securities of a defaulting or withdrawing Initial Purchaser, either the remaining Initial Purchasers or the
Company may postpone the Closing Date or Additional Closing Date, as the case may be, for up to seven (7) full Business Days in order to effect any changes that in the opinion of 

  

 29 

 
counsel for the Company or counsel for the Initial Purchasers may be necessary in the Time of Sale Information, the Final Offering Memorandum or in any other
document or arrangement. 
 9. Termination. The obligations of the Initial Purchasers hereunder may be terminated by the Initial
Purchasers, in the absolute discretion of the Initial Purchasers, by notice given to the Company prior to the delivery of and payment for the Securities if, prior to that time, any of the events described in Section 6(e), 6(f), 6(l), 6(m) and
6(t) shall have occurred. 
 10. Payment of Expenses. (a) Whether or not the transactions contemplated by this Agreement
are consummated or this Agreement is terminated, the Company agrees to pay or cause to be paid all costs and expenses incident to the performance of its obligations hereunder, including without limitation, (i) the costs incident to the
authorization, issuance, sale, preparation and delivery of the Securities or Conversion Shares and any taxes payable in that connection; (ii) the costs incident to (x) the preparation and printing of the Preliminary Offering Memorandum,
any Issuer Written Communication, any Time of Sale Information and the Final Offering Memorandum (including all exhibits, amendments and supplements thereto) and the distribution thereof and (y) the preparation and filing under the Securities
Act of the Registration Statement; (iii) the costs of reproducing and distributing each of the Transaction Documents; (iv) the fees and expenses of the Company’s counsel and independent accountants; (v) the fees and expenses
incurred in connection with the registration or qualification and determination of eligibility for investment of the Securities or the Conversion Shares under the laws of such jurisdictions as the Initial Purchasers may designate and the
preparation, printing and distribution of a Blue Sky Memorandum (including the related fees and expenses of counsel for the Initial Purchasers not to exceed $15,000); (vi) the cost of preparing stock certificates; (vii) the costs and
charges of any transfer agent and any registrar; (viii) any fees charged by rating agencies for rating the Securities; (ix) the fees and expenses of the Trustee and any paying agent (including related fees and expenses of any counsel to
such parties); (x) all expenses and application fees incurred in connection with the application for the inclusion of the Securities on the PORTAL Market and the approval of the Securities for book-entry transfer by DTC; (xi) all expenses
incurred by the Company in connection with any “road show” presentation to potential investors; and (xii) all expenses and application fees related to the listing of the Conversion Shares on the NASDAQ Global Select Market, the NASDAQ
Select Market, the NYSE or another U.S. national securities exchange or established automated over-the-counter trading market in the United States of America. 
 (b) If (i) this Agreement is terminated pursuant to Section 9 (other than due to the events described in Section 6(l) and 6(m)), (ii) the Company for any reason fails to tender the Securities for
delivery to the Initial Purchasers or (iii) the Initial Purchasers decline to purchase the Securities for any reason permitted under this Agreement, the Company agrees to reimburse the Initial Purchasers for all out-of-pocket costs and expenses
(including the fees and expenses of their counsel) reasonably incurred by the Initial Purchasers in connection with this Agreement and the proposed purchase and resale of the Securities contemplated hereby. 
  

 30 

 11. Persons Entitled to Benefit of Agreement. This Agreement shall inure to the benefit of and be
binding upon the parties hereto and their respective successors and any controlling persons referred to herein, and the affiliates, officers and directors of the Initial Purchasers referred to in Section 7 hereof. Nothing in this Agreement is
intended or shall be construed to give any other person any legal or equitable right, remedy or claim under or in respect of this Agreement or any provision contained herein. No purchaser of Securities from the Initial Purchasers shall be deemed to
be a successor merely by reason of such purchase. 
 12. Survival. The respective indemnities, rights of contribution,
representations, warranties and agreements of the Company and the Initial Purchasers contained in this Agreement or made by or on behalf of the Company or the Initial Purchasers pursuant to this Agreement or any certificate delivered pursuant hereto
shall survive the delivery of and payment for the Securities and shall remain in full force and effect, regardless of any termination of this Agreement or any investigation made by or on behalf of the Company or the Initial Purchasers. 

13. Certain Defined Terms. For purposes of this Agreement, (a) except where otherwise expressly provided, the term “affiliate”
has the meaning set forth in Rule 405 under the Securities Act; (b) the term “Business Day” means any day other than a Saturday, a Sunday or a day on which banking institutions in New York, New York are authorized or required by law
or executive order to remain closed; (c) the term “subsidiary” has the meaning set forth in Rule 405 under the Securities Act; and (d) the term “written communication” has the meaning set forth in Rule 405 under the
Securities Act. 
 14. Initial Purchasers’ Information. The parties hereto acknowledge and agree that, for all purposes of this
Agreement, the Initial Purchasers’ Information consists solely of the following information in the Time of Sale Information or the Final Offering Memorandum: the third paragraph, the fifth and sixth sentences of the ninth paragraph, the
eleventh paragraph, the twelfth paragraph, the sixteenth paragraph and the second sentence of the seventeenth paragraph under the heading “Plan of Distribution” in the Final Offering Memorandum. 
 15. Miscellaneous. (a) Notices. All notices and other communications hereunder
shall be in writing and shall be deemed to have been duly given if mailed or transmitted and confirmed by any standard form of telecommunication. Notices to the Initial Purchasers shall be given to the Initial Purchasers c/o Lehman Brothers Inc.,
745 Seventh Avenue, New York, New York 10019; Attention: Syndicate Registration (fax: (646) 834-8133), with a copy, in the case of any notice pursuant to Section 7(c), to the Director of Litigation, Office of the General Counsel, Lehman
Brothers Inc., 399 Park Avenue, 10th Floor, New York, New York 10022 (fax: (212) 520-0421). Notices to the
Company shall be given to it at SBA Communications Corporation, 5900 Broken Sound Parkway NW, Boca Raton, Florida 33487; Attention: Jeffrey A. Stoops (fax: (561) 997-0343) and Attention: Thomas P. Hunt (fax: (561) 989-2941), with a copy to
Holland & Knight LLP, 701 Brickell Avenue,, Suite 3100, Miami, Florida 33131; Attention: Kara L. MacCullough, Esq. (fax: (305) 679-6311). 
  

 31 

 (b) Governing Law. This Agreement shall be governed by and construed in accordance with the law of
the State of New York. 
 (c) Counterparts. This Agreement may be signed in counterparts (which may include counterparts delivered by
any standard form of telecommunication), each of which shall be an original and all of which together shall constitute one and the same instrument. 
 (d) Amendments or Waivers. No amendment or waiver of any provision of this Agreement, nor any consent or approval to any departure therefrom, shall in any event be effective unless the same shall be in writing and signed by the
parties hereto. 
 (e) Headings. The headings herein are included for convenience of reference only and are not intended to be part
of, or to affect the meaning or interpretation of, this Agreement. 
  

 32 

 If the foregoing is in accordance with your understanding, please indicate your acceptance of this
Agreement by signing in the space provided below. 
  

			
	Very truly yours,
	
	SBA COMMUNICATIONS CORPORATION
		
	By	 	 /s/ Jeffrey A. Stoops

	Name:	 	Jeffrey A. Stoops
	Title:	 	President and CEO

  

			
	Accepted: March 20, 2007
	
	LEHMAN BROTHERS INC.
		
	By	 	 /s/ Michael Sherman

	Name:	 	Michael Sherman
	Title:	 	Managing Director, Head of Convertible Origination
	
	CITIGROUP GLOBAL MARKETS INC.
		
	By	 	 /s/ William Ortner

	Name:	 	William Ortner
	Title:	 	Managing Director
	
	DEUTSCHE BANK SECURITIES INC.
		
	By	 	 /s/ J.S. Amling

	Name:	 	J.S. Amling
	Title:	 	Vice Chair / Managing Director
		
	By	 	 /s/ Malcolm Morris

	Name:	 	Malcolm Morris
	Title:	 	Managing Director

 Each for itself and as a Representative of the other Initial Purchasers. 
  

 33 

 Schedule 1 
 Initial Purchasers 
  

				
	 Initial Purchasers
	  	Principal Amount
	 Lehman Brothers Inc.
	  	$	120,000,000
	 Citigroup Global Markets Inc.
	  	 	78,750,000
	 Deutsche Bank Securities Inc.
	  	 	78,750,000
	 J.P. Morgan Securities Inc.
	  	 	11,250,000
	 Raymond James & Associates, Inc.
	  	 	11,250,000
		  	 	 
	 Total
	  	$	300,000,000
		  	 	 

  

 i 

 Schedule 2 
 Subsidiaries Providing Good Standing Certificates 
  

	
	 SBA CMBS-1 Holdings LLC

	 SBA CMBS-1 Guarantor LLC

	 SBA Telecommunications, Inc.

	 SBA Senior Finance, Inc.

	 SBA Senior Finance II LLC

	 SBA Properties, Inc.

	 SBA Network Services, Inc.

	 SBA Towers, Inc.

	 SBA Sites, Inc.

	 SBA Structures, Inc.

	 SBA CMBS-1 Depositor LLC

  

 ii 

 Annex A 
 Additional Time of Sale Information 
  

	1.	List each document provided as an amendment or supplement to the Preliminary Offering Memorandum. 

  

	2.	Term sheet containing the terms of the securities, substantially in the form of Annex B. 

  

 A-1 

 Annex C 
 Form of Opinion of Holland & Knight LLP 
 1. The Company and each of its Significant
Subsidiaries are corporations or limited liability companies organized, validly existing and in good standing under the laws of the State of Florida and Delaware as set forth in Schedule __ and have all requisite power and authority necessary to own
or to hold their respective properties and conduct the businesses in which they are engaged. 
 2. The Company has all requisite power and
authority to execute, deliver and perform its obligations under the Transaction Documents. 
 3. The Company has an authorized capitalization
as set forth in the Time of Sale Information and the Final Offering Memorandum, and all of the issued shares of capital stock of the Company have been duly and validly authorized and issued, are fully paid and non-assessable and conform to the
description thereof contained in each of the Time of Sale Information and the Final Offering Memorandum; and all of the issued shares of capital stock or all of the issued membership interests of each Significant Subsidiary have been duly and
validly authorized and issued and are fully paid and non-assessable and are owned directly or indirectly by the Company, free of any adverse claims except liens under the Mortgage Loan and the Revolving Senior Credit Agreement, as set forth in each
of the Time of Sale Information and the Final Offering Memorandum. 
 4. There are no preemptive rights under federal or Florida law to
subscribe for or purchase shares of the Common Stock. There are no preemptive or other rights to subscribe for or purchase, nor any restriction upon the voting or transfer of, any shares of the Common Stock pursuant to the Company’s Fourth
Amended and Restated Articles of Incorporation or Amended and Revised By-laws or any agreement or other instrument known to us. 
 5. The
execution, delivery and compliance by the Company with all of the provisions of each of the Transaction Documents and the consummation of the transactions contemplated thereby will not result in any violation of the provisions of the Fourth Amended
and Restated Articles of Incorporation, as amended, or Amended and Revised By-laws of the Company, or the Articles of Incorporation, Certificate of Incorporation, Articles of Organization, Bylaws, Operating Agreement, or Limited Liability Company
Agreement of any of its Significant Subsidiaries or any United States or Florida statute or any order, rule or regulation known to us of any Florida court or governmental agency or body having jurisdiction over the Company or any of its Significant
Subsidiaries or any of their properties or assets; and there is no consent, approval, authorization or order of, or filing or registration with, any other United States or Florida or, to our knowledge, any other court or governmental body or agency
or any 

  

 C-1 

 
federal court is required for the execution, delivery and performance of each of the Transaction Documents by the Company and the issuance and delivery of
the Securities by the Company on the date hereof pursuant to the Transaction Documents and the consummation of the transactions contemplated thereby, except for such consents, approvals, authorizations, orders, filings or registrations as have been
obtained or made and such as may be required under the Securities Act, state securities laws and The Nasdaq Stock Market LLC in connection with the purchase and distribution of such Securities by the Initial Purchasers and the listing of the
Conversion Shares on the Nasdaq Global Select Market. 
 6. The Purchase Agreement has been duly and validly authorized, executed and
delivered by the Company. 
 7. The Registration Rights Agreement has been duly and validly authorized, executed and delivered by the
Company, and, assuming due authorization, execution and delivery by the Initial Purchasers, is a valid and legally binding agreement of the Company, enforceable against the Company in accordance with its terms (subject to applicable bankruptcy,
insolvency, reorganization, moratorium, fraudulent transfer and other similar laws affecting creditors’ rights generally from time to time in effect and to general equitable principles (whether considered in a proceeding in equity or at law)
and an implied covenant of good faith and fair dealing). 
 8. The statements set forth in the Preliminary Offering Memorandum and the Final
Offering Memorandum under the captions “Description of Notes,” “Registration Rights” and “Description of Capital Stock,” insofar as they purport to summarize certain provisions of the terms of the Securities and the
Company’s capital stock (including the Common Stock), fairly summarize, in all material respects, the matters referred to therein. 
 9.
To the knowledge of such counsel, there are no legal or governmental proceedings pending or threatened against the Company or any of its subsidiaries, or to which any of their respective properties, is subject, that are not disclosed or incorporated
by reference in each of the Time of Sale Information and the Final Offering Memorandum and which are reasonably likely to have a Material Adverse Effect or to materially affect the issuance and sale of the Securities. 
 10. No registration of the Securities or the Conversion Shares under the Securities Act, and no qualification of the Indenture under the Trust Indenture
Act, is required for the offer and sale of the Securities by the Company to the Initial Purchasers or the reoffer and resale of the Securities by the Initial Purchasers to the initial purchasers therefrom or in connection with the conversion of the
Securities into Conversion Shares solely in the manner contemplated by the Preliminary Offering Memorandum and the Final Offering Memorandum, the Purchase Agreement, the Registration Rights Agreement and the Indenture. 
 11. None of the execution, delivery or performance of each of the Transaction Documents by the Company or the issuance and delivery of the Securities by
the 

  

 C-2 

 
Company on the Closing Date or the Additional Closing Date, as the case may be, pursuant to the Purchase Agreement (a) conflicts or will conflict with
or constitutes or will constitute a breach of, or a default under any agreement listed on a certificate of an officer of the Company as being the material agreements of the Company and its subsidiaries taken as a whole (the “Material
Agreements”) and attached hereto as Schedule __, (b) violates or will violate any of the court and administrative orders, writs, judgments and decrees specifically directed to the Company and identified to us by the Senior Vice
President and General Counsel of the Company as being material to the Company and its subsidiaries taken as a whole (the “Court Orders”), if any, issued by any federal or Florida governmental agency or body, or (c) results in
any violation known to us of any federal or Florida statute, rule or regulation (other than federal and state securities laws, which are addressed elsewhere herein), except in each case such breaches, conflicts or defaults that, individually or in
the aggregate, would not have a Material Adverse Effect. 
 12. The statements made in the Preliminary Offering Memorandum and the Final
Offering Memorandum under the caption “Material United States Federal Income and Estate Tax Considerations,” insofar as they purport to summarize certain matters of United States federal tax law and regulations or legal conclusions with
respect thereto, fairly summarize, in all material respects, the matters referred to therein. 
 13. The Company is not an “investment
company” within the meaning of and subject to regulation under the Investment Company Act of 1940, as amended. 
 14. The Indenture has
been duly authorized, executed and delivered by the Company and, assuming that the Indenture is the valid and legally binding obligation of the Trustee, is a legally valid and binding agreement of the Company, enforceable against the Company in
accordance with its terms (subject to applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent transfer and other similar laws affecting creditors’ rights generally from time to time in effect and to general equitable
principles (whether considered in a proceeding in equity or at law) and an implied covenant of good faith and fair dealing). Notwithstanding the foregoing, we express no opinion as to the validity, legally binding effect or enforceability of any
provision of the Indenture that requires or relates to the payment of any interest at a rate or in an amount which a court would determine in the circumstances under applicable law to be commercially unreasonable or a penalty or a forfeiture.

 15. The Securities have been duly authorized, executed and issued by the Company and, assuming due authentication of the Securities by the
Trustee in accordance with the terms of the Indenture and payment and delivery of the Securities in accordance with the Purchase Agreement, the Securities will be legally valid and binding obligations of the Company, enforceable against the Company
in accordance with their terms and entitled to the benefits of the Indenture (subject to applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent transfer and other similar laws affecting creditors’ rights generally from time
to time in effect and to general equitable principles (whether considered in a proceeding in equity or at law) and an 

  

 C-3 

 
implied covenant of good faith and fair dealing). Notwithstanding the foregoing, we express no opinion as to the validity, legally binding effect or
enforceability of any provision of the Securities that requires or relates to the payment of any interest at a rate or in an amount which a court would determine in the circumstances under applicable law to be commercially unreasonable or a penalty
or a forfeiture. 
 16. The Conversion Shares issuable upon conversion of the Securities have been duly authorized and reserved for issuance
by all necessary corporate action on the part of the Company and, when issued upon conversion of the Securities in accordance with the terms of the Securities, will be validly issued, fully paid and non-assessable, and the issuance of the Conversion
Shares will not be subject to any preemptive or similar rights under (A) Florida law or (B) the Fourth Amended and Restated Articles of Incorporation, as amended, or the Amended and Revised By-laws of the Company, or (C) to the
knowledge of such counsel, any other agreement. 
 In addition, such counsel shall also have furnished to the Initial Purchasers a written
statement, addressed to the Initial Purchasers and dated the Closing Date or the Additional Closing Date, as the case may be, in form and substance satisfactory to the Initial Purchasers, to the effect that (x) such counsel has acted as counsel
to the Company on a regular basis, has acted as counsel to the Company in connection with previous financing transactions and has acted as counsel to the Company in connection with the preparation of the Time of Sale Information and the Final
Offering Memorandum, and (y) based on the foregoing, nothing has come to the attention of such counsel that causes it to believe that: 
 (a) the Preliminary Offering Memorandum (including the documents incorporated by reference therein), together with the pricing term sheet listed on Annex B of the Purchase Agreement, as of the Time of Sale, contained
any untrue statement of a material fact or omitted to state any material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; or 
 (b) the Final Offering Memorandum (including the documents incorporated by reference therein), as of its date and as of the Closing Date
or the Additional Closing Date, as the case may be, contained or contains any untrue statement of a material fact or omitted or omits to state any material fact necessary in order to make the statements therein, in the light of the circumstances
under which they were made, not misleading. 
 except that in each case such counsel need express no opinion with respect to the financial statements or
other financial and statistical data contained or incorporated by reference in or omitted from the Preliminary Offering Memorandum or the Final Offering Memorandum. The foregoing opinion and statement may be qualified by a statement to the effect
that such counsel does not assume any responsibility for the accuracy, completeness or fairness of the statements contained in the Preliminary Offering Memorandum or the Final Offering Memorandum, except to the extent set forth in paragraphs 8 and
12 above. 
  

 C-4 

 Insofar as the opinions expressed in paragraphs 6,7, 14 and 15 above relate to or are dependent upon
matters governed by the law of the State of New York, we understand that you have relied upon the opinion of Simpson Thacher & Bartlett LLP. 
  

 C-5 

 Exhibit A 
 FORM OF LOCK-UP AGREEMENT 
 March 20, 2007 
 Lehman Brothers Inc., 
 Citigroup Global Markets Inc., 
 Deutsche Bank Securities Inc. 
 As Representatives of the several 
 Initial Purchasers listed on 
 Schedule 1
hereto 
 c/o Lehman Brothers Inc. 
 745 Seventh Avenue

 New York, New York 10019 
 Re: SBA
Communications Corporation 
 Ladies and Gentlemen: 
 The undersigned understands that you and certain other firms (the “Initial Purchasers”) propose to enter into a Purchase Agreement (the “Purchase Agreement”) providing for the offering (the
“Offering”) by the Initial Purchasers of $300,000,000 aggregate principal amount of Convertible Senior Notes due 2010 (the “Securities”) ($350,000,000 aggregate principal amount if the Initial Purchasers exercise
the over-allotment option in full), of SBA Communications Corporation, a Florida corporation (the “Company”). Capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Purchase Agreement.

 In consideration of the execution of the Purchase Agreement by the Initial Purchasers, and for other good and valuable consideration, the
undersigned hereby irrevocably agrees that, without the prior written consent of the Representatives, on behalf of the Initial Purchasers, the undersigned will not, directly or indirectly, (1) offer for sale, sell, pledge (other than pledges
existing on the date hereof), or otherwise dispose of (or enter into any transaction or device which is designed to, or could be expected to, result in the disposition by any person at any time in the future of) any shares of Class A Common
Stock, par value $0.01 per share (the “Common Stock”), of the Company, (including, without limitation, shares of Common Stock that may be deemed to be beneficially owned by the undersigned in accordance with the rules and
regulations of the Commission and shares of Common Stock that may be issued upon exercise of any options or warrants) or securities convertible into or exercisable or exchangeable for Common Stock (other than shares of Common Stock issued pursuant

  

 Ex-A-1 

 
to employee benefit plans, qualified stock option plans or other employee compensation plans existing on the date hereof or pursuant to currently outstanding
options, warrants or rights) or substantially similar securities owned by the undersigned on the date of execution of this Lock-Up Agreement or on the date of the completion of the Offering, or sell or grant options, rights or warrants with respect
to any shares of Common Stock or securities convertible into or exchangeable for Common Stock or substantially similar securities (other than the grant of options pursuant to employee benefit plans existing on the date hereof), (2) enter into
any swap or other derivatives transaction that transfers to another, in whole or in part, any of the economic benefits or risks of ownership of shares of Common Stock, whether any such transaction described in clause (1) or (2) above is to
be settled by delivery of Common Stock or other securities, in cash or otherwise, (3) make any demand for or exercise any right or cause to be filed a registration statement, including any amendments thereto, with respect to the registration of
any shares of Common Stock or securities convertible into or exercisable or exchangeable for Common Stock or any other securities of the Company or (4) publicly disclose the intention to do any of the foregoing, for a period commencing on the
date hereof and ending on the sixtieth (60th) day after the date of the Final Offering Memorandum relating to
the Offering (such sixty (60)-day period, the “Lock-Up Period”). 
 In furtherance of the foregoing, the Company and its
transfer agent are hereby authorized to decline to make any transfer of securities if such transfer would constitute a violation or breach of this Lock-Up Agreement. 
 It is understood that, if the Company notifies the Initial Purchasers that it does not intend to proceed with the Offering, if the Purchase Agreement does not become effective, or if the Purchase Agreement (other than
the provisions thereof which survive termination) shall terminate or be terminated prior to payment for and delivery of the Securities, the undersigned will be released from its obligations under this Lock-Up Agreement. 
 The undersigned understands that the Company and the Initial Purchasers will proceed with the Offering in reliance on this Lock-Up Agreement. 

Whether or not the Offering actually occurs depends on a number of factors, including market conditions. Any Offering will only be made pursuant to
the Purchase Agreement, the terms of which are subject to negotiation between the Company and the Initial Purchasers. 
 [Signature page
follows] 
  

 Ex-A-2 

 The undersigned hereby represents and warrants that the undersigned has full power and authority to enter
into this Lock-Up Agreement and that, upon request, the undersigned will execute any additional documents necessary in connection with the enforcement hereof. Any obligations of the undersigned shall be binding upon the heirs, personal
representatives, successors and assigns of the undersigned. 
  

			
	Very truly yours,
		
	By:	 	  

	Name:	 	
	Title:	 	

 Dated:
                             
  

 Ex-A-3Registration Rights Agreement

 Exhibit 10.63 
 SBA Communications Corporation 
 0.375% Convertible Senior Notes due 2010 
 Registration Rights Agreement 
 March 26, 2007 
 Lehman Brothers Inc., 
 Citigroup
Global Markets Inc., 
 Deutsche Bank Securities Inc. 
 As
Representatives of the several 
     Initial Purchasers listed on 
     Schedule 1 to the Purchase Agreement 
 c/o Lehman Brothers Inc. 
 745 Seventh Avenue 
 New York, New York 10019 
 Ladies and Gentlemen: 
 SBA Communications Corporation, a
Florida corporation (the “Company”), proposes to issue and sell to the initial purchasers listed on Schedule 1 to the Purchase Agreement (as defined below) (collectively, the “Initial Purchasers”), upon the terms
and subject to the conditions set forth in a purchase agreement, dated March 20, 2007 (the “Purchase Agreement”), between the Company and you, as the Representatives of the Initial Purchasers, $300,000,000 aggregate principal
amount of its 0.375% Convertible Senior Notes due 2010 (the “Firm Notes”) and, at the election of the Initial Purchasers, an additional $50,000,000 aggregate principal amount of the Company’s 0.375% Convertible Senior Notes due
2010 (the “Additional Notes” and, together with the Firm Notes, the “Notes”). The Notes will be convertible into fully paid, non-assessable shares of Class A common stock, par value $0.01 per share, of the
Company on the terms, and subject to the conditions, set forth in the Indenture (as defined below). Capitalized terms used but not defined herein shall have the meanings given to such terms in the Purchase Agreement. 
 As an inducement to the Initial Purchasers to enter into the Purchase Agreement, and in satisfaction of a condition to the obligations of the Initial
Purchasers thereunder, the Company agrees with the Initial Purchasers, for the benefit of the holders (including the Initial Purchasers) of the Notes and the Shares (as defined below) (collectively, the “Holders”), as follows:

 1. Certain Definitions. 
 For purposes of this Registration Rights Agreement the following terms shall have the following meanings: 
 (a)
“Additional Interest” has the meaning assigned thereto in Section 2(d). 
 (b) “Additional
Notes” has the meaning specified in the first paragraph of this Agreement. 

 (c) “Agreement” means this Registration Rights Agreement, as the same
may be amended from time to time pursuant to the terms hereof. 
 (d) “Business Day” means any day other than
a Saturday, a Sunday or a day on which banking institutions in New York, New York are authorized or required by law or executive order to remain closed. 
 (e) “Closing Date” means the date on which any Notes are initially issued. 
 (f) “Commission” means the Securities and Exchange Commission, or any other federal agency at the time administering the Exchange Act or the Securities Act, whichever is the relevant statute for the particular purpose.

 (g) “Company” has the meaning specified in the first paragraph of this Agreement. 
 (h) “Deferral Notice” has the meaning assigned thereto in Section 3(b). 
 (i) “Deferral Period” has the meaning assigned thereto in Section 3(b). 
 (j) “Effective Period” has the meaning assigned thereto in Section 2(a). 
 (k) “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated
thereunder. 
 (l) “Firm Notes” has the meaning specified in the first paragraph of this Agreement.

 (m) “Free Writing Prospectus” means each free writing prospectus (as defined in Rule 405 under the
Securities Act) prepared by or on behalf of the Company or used or referred to by the Company in connection with the sale of the Securities. 
 (n) “Holder” means each holder, from time to time, of Registrable Securities (including the Initial Purchasers). 
 (o) “Indenture” means the Indenture dated as of the date hereof between the Company and U.S. Bank National Association,
as Trustee, pursuant to which the Notes are being issued, and in accordance with which Shares may be issued, as the same may be amended, supplemented, waived or otherwise modified from time to time in accordance with the terms thereof. 

(p) “Initial Purchasers” has the meaning specified in the first paragraph of this Agreement. 
 (q) “Issuer Information” has the meaning set forth in Section 6(a) hereof. 
 (r) “Material Event” has the meaning assigned thereto in Section 3(b). 
 (s) “Majority Holders” shall mean, on any date, holders of the majority of the Shares constituting Registrable
Securities; for the purposes of this definition, Holders of Notes constituting Registrable Securities shall be deemed to be the Holders of the number of Shares into which such Notes are or would be convertible as of such date. 
  

 2 

 (t) “NASD” shall mean the National Association of Securities Dealers,
Inc. 
 (u) “NASD Rules” shall mean the Conduct Rules and the By-Laws of the NASD. 
 (v) “Notes” has the meaning specified in the first paragraph of this Agreement. 
 (w) “Notice and Questionnaire” means a written notice delivered to the Company containing substantially the information
called for by the Form of Selling Securityholder Notice and Questionnaire attached as Annex A to the Offering Memorandum. 
 (x) “Notice Holder” means, on any date, any Holder that has delivered a Notice and Questionnaire to the Company prior to such date. 
 (y) “Offering Memorandum” means the Offering Memorandum dated March 20, 2007 relating to the offer and sale of the
Securities. 
 (z) “Person” means a corporation, association, partnership, organization, business,
individual, government or political subdivision thereof or governmental agency. 
 (aa) “Prospectus” means
the prospectus included in any Shelf Registration Statement, including any preliminary prospectus, and any such prospectus as amended or supplemented by any amendment or prospectus supplement, including post-effective amendments, and all materials
incorporated by reference or explicitly deemed to be incorporated by reference in such Prospectus. 
 (bb) “Purchase
Agreement” has the meaning specified in the first paragraph of this Agreement. 
  

	 	(cc)	“Registrable Securities” means 

  

	 	(i)	any Notes until the earliest of (i) their effective registration under the Securities Act and the resale of all such Notes in accordance with the Shelf Registration Statement,
(ii) the date on which such Notes are (A) sold pursuant to Rule 144 under circumstances in which any legend borne by such Notes relating to restrictions on transferability thereof, under the Securities Act or otherwise, is removed or
(B) freely transferable without restriction under Rule 144(k) or (iii) the date on which such Notes have been converted or otherwise cease to be outstanding; 

  

	 	(ii)	any Shares issuable upon conversion of any Notes constituting Registrable Securities, until the earliest of (i) their effective registration under the Securities Act and the
resale of all such Shares in accordance with the Shelf Registration Statement, (ii) the date on which such Shares are (A) sold pursuant to Rule 144 under circumstances in which any legend borne by such Shares relating to restrictions on
transferability thereof, under the Securities Act or otherwise, is removed or (B) freely transferable without restriction under Rule 144(k) or (iii) the date on which such Shares cease to be outstanding. 

 (dd) “Registration Default” has the meaning assigned thereto in Section 2(d). 
  

 3 

 (ee) “Registration Expenses” has the meaning assigned thereto in
Section 5. 
 (ff) “Rule 144,” “Rule 405” and “Rule 415” mean, in each
case, such rule as promulgated under the Securities Act. 
 (gg) “Securities” means, collectively, the Notes
and the Shares. 
 (hh) “Securities Act” means the Securities Act of 1933, as amended, and the rules and
regulations promulgated thereunder. 
 (ii) “Shares” means the shares of Class A common stock of the
Company, par value $0.01 per share, into which the Notes are convertible or that have been issued upon a conversion from Notes into Class A common stock of the Company. 
 (jj) “Shelf Registration Statement” means the shelf registration statement referred to in Section 2(a), as amended
or supplemented by any amendment or supplement, including post-effective amendments, and all materials incorporated by reference or explicitly deemed to be incorporated by reference in such Shelf Registration Statement. 
 (kk) “Special Counsel” shall have the meaning assigned thereto in Section 5. 
 (ll) “Trust Indenture Act” means the Trust Indenture Act of 1939, as amended, or any successor thereto, and the rules,
regulations and forms promulgated thereunder. 
 (mm) “Trustee” shall have the meaning assigned such term in
the Indenture. 
 Unless the context otherwise requires, any reference herein to a “Section” or “clause” refers to a
Section or clause, as the case may be, of this Agreement, and the words “herein,” “hereof” and “hereunder” and other words of similar import refer to this Agreement as a whole and not to any particular Section or other
subdivision. Unless the context otherwise requires, any reference to a statute, rule or regulation refers to the same (including any successor statute, rule or regulation thereto) as it may be amended from time to time. 
 2. Registration Under the Securities Act. 
 (a) The Company agrees to file under the Securities Act as promptly as practicable but in any event within ninety (90) calendar days after the Closing Date a shelf registration statement providing for the registration of, and the sale
on a continuous or delayed basis by the Holders of, all of the Registrable Securities, pursuant to Rule 415 or any similar rule that may be adopted by the Commission. The Company agrees to use its reasonable best efforts to cause the Shelf
Registration Statement to be declared effective within one hundred eighty (180) calendar days after the Closing Date and to keep such Shelf Registration Statement continuously effective until such time as there are no longer any Registrable
Securities outstanding (the “Effective Period”). None of the Company’s securityholders (other than Holders of Registrable Securities) shall have the right to include any of the Company’s securities in the Shelf
Registration Statement. 
 (b) The Company further agrees that it shall cause the Shelf Registration Statement and the related Prospectus and
any amendment or supplement thereto, as of the effective date of the Shelf Registration Statement or such amendment or supplement, (i) to comply in all material respects with the applicable requirements of the Securities Act; and (ii) not
to contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or 

  

 4 

 
necessary in order to make the statements therein (in the case of the Prospectus, in the light of the circumstances under which they were made) not
misleading, and the Company agrees to furnish to the Holders of the Registrable Securities copies of any supplement or amendment prior to its being used or promptly following its filing with the Commission; provided, however, that the Company
shall have no obligation to deliver to Holders of Registrable Securities copies of any amendment consisting exclusively of an Exchange Act report or other Exchange Act filing otherwise publicly available on the Company’s website. If the Shelf
Registration Statement, as amended or supplemented from time to time, ceases to be effective for any reason at any time during the Effective Period (other than because all Registrable Securities registered thereunder shall have been sold pursuant
thereto or shall have otherwise ceased to be Registrable Securities), the Company shall use its reasonable best efforts to obtain the prompt withdrawal of any order suspending the effectiveness thereof. 
 (c) Each Holder of Registrable Securities agrees that if such Holder wishes to sell Registrable Securities pursuant to the Shelf Registration Statement
and related Prospectus, it will do so only in accordance with this Section 2(c) and Section 3(b). From and after the date the Shelf Registration Statement is declared or becomes effective, the Company shall, as promptly as is practicable
after the date a Notice and Questionnaire is delivered, and in any event within fifteen (15) calendar days after the date of receipt of such Notice and Questionnaire, or if the use of the Prospectus has been suspended by the Company under
Section 3(b) at the time of receipt of the Notice and Questionnaire, fifteen (15) calendar days after the expiration of the period during which the use of the Prospectus is suspended: 
 (i) if required by applicable law, file with the Commission a post-effective amendment to the Shelf Registration Statement or prepare and,
if required by applicable law, file a supplement to the related Prospectus or a supplement or amendment to any document incorporated therein by reference or file any other required document so that the Holder delivering such Notice and Questionnaire
is named as a selling security holder in the Shelf Registration Statement and the related Prospectus in such a manner as to permit such Holder to deliver such Prospectus to purchasers of the Registrable Securities in accordance with applicable law
and, if the Company shall file a post-effective amendment to the Shelf Registration Statement, use its reasonable best efforts to cause such post-effective amendment to be declared or to otherwise become effective under the Securities Act as
promptly as is practicable. Notwithstanding the foregoing, the Company shall not be required to file more than two post-effective amendments to the Shelf Registration Statement or three supplements to the related Prospectus during any calendar
quarter; 
 (ii) provide such Holder copies of any documents filed pursuant to Section 2(c)(i); and 
 (iii) notify such Holder as promptly as practicable after the effectiveness under the Securities Act of any post-effective amendment filed
pursuant to Section 2(c)(i); 
 provided that if such Notice and Questionnaire is delivered during a Deferral Period, the Company shall so inform
the Holder delivering such Notice and Questionnaire and shall take the actions set forth in clauses (i), (ii) and (iii) above upon expiration of the Deferral Period in accordance with Section 3(b). Notwithstanding anything contained
herein to the contrary, the Company shall be under no obligation to name any Holder that is not a Notice Holder as a selling securityholder in any Shelf Registration Statement or related Prospectus; provided, however, that any Holder that
becomes a Notice Holder pursuant to the provisions of this Section 2(c) (whether or not such Holder was a Notice Holder at the time the Shelf Registration Statement was declared or otherwise became effective) shall be named as a 

  

 5 

 
selling securityholder in the Shelf Registration Statement or related Prospectus in accordance with the requirements of this Section 2(c). 

(d) Prior to the second anniversary of the Closing Date, if any of the following events (any such event a “Registration
Default”) shall occur, then additional interest (the “Additional Interest”) shall become payable by the Company to Holders in respect of the Notes as follows: 
 (i) if the Shelf Registration Statement is not filed with the Commission within
ninety (90) calendar days following the Closing Date, then commencing on the ninety first (91st) calendar
day after the Closing Date, Additional Interest shall accrue on the principal amount of the outstanding Notes that are Registrable Securities at a rate of 0.25% per annum for the first ninety (90) calendar days following such ninety first
(91st) calendar day and at a rate of 0.50% per annum thereafter; or 
 (ii) if the Shelf Registration Statement is not declared effective and does not
otherwise become effective within one hundred eighty (180) calendar days following the Closing Date, then commencing on the one hundred eighty first (181st) calendar day after the Closing Date, Additional Interest shall accrue on the principal amount of the outstanding Notes that are Registrable Securities at a rate of 0.25% per annum for the
first ninety (90) calendar days following such one hundred eighty first (181st) calendar day and at a rate
of 0.50% per annum thereafter; or 
 (iii) if the Company has failed to perform its obligations set forth in
Section 2(c) within the time periods required therein, then commencing on the first day after the date by which the Company were required to perform such obligations, Additional Interest shall accrue on the principal amount of the outstanding
Notes that are Registrable Securities at a rate of 0.25% per annum for the first ninety (90) calendar days and at a rate of 0.50% per annum thereafter; or 
 (iv) if the Shelf Registration Statement has been declared effective or has otherwise become effective but such Shelf Registration
Statement ceases to be effective at any time during the Effective Period (other than pursuant to Section 3(b)), then commencing on the day such Shelf Registration Statement ceases to be effective, Additional Interest shall accrue on the
principal amount of the outstanding Notes that are Registrable Securities at a rate of 0.25% per annum for the first ninety (90) calendar days following such date on which the Shelf Registration Statement ceases to be effective and at a
rate of 0.50% per annum thereafter; or 
 (v) if the aggregate duration of Deferral Periods in any period exceeds the
number of days permitted in respect of such period pursuant to Section 3(b), then commencing on the day the aggregate duration of Deferral Periods in any period exceeds the number of days permitted in respect of such period (and again on the
first day of any subsequent Deferral Period during such period), Additional Interest shall accrue on the principal amount of the outstanding Notes that are Registrable Securities at a rate of 0.25% per annum for the first ninety
(90) calendar days and at a rate of 0.50% per annum thereafter; 
 provided, however, that the Additional Interest rate on the Notes shall
not exceed in the aggregate 0.50% per annum and shall not be payable under more than one clause above for any given period of time, except that if Additional Interest would be payable under more than one clause above, but at a rate of
0.25% per annum under one clause and at a rate of 0.50% per annum under the other, then the Additional Interest rate shall be the higher rate of 0.50% per annum; provided further, however, that (1) upon the filing of the
Shelf Registration Statement (in the case of clause (i) above), (2) upon the effectiveness of the Shelf Registration Statement (in the case of clause (ii) above), (3) upon the performance by the 

  

 6 

 
Company of its obligations set forth in Section 2(c) within the time periods required therein (in the case of clause (iii) above), (4) upon
the effectiveness of the Shelf Registration Statement which had ceased to remain effective (in the case of clause (iv) above), (5) upon the termination of the Deferral Period that caused the limit on the aggregate duration of Deferral
Periods in a period set forth in Section 3(b) to be exceeded (in the case of clause (v) above), (6) upon the termination of certain transfer restrictions on the Securities as a result of the application of Rule 144(k) or any successor
provision or (7) upon the second anniversary of the Closing Date, Additional Interest on the Notes as a result of such clause, as the case may be, shall cease to accrue. 
 Additional Interest on the Notes, if any, will be payable in cash in accordance with the provisions of the Indenture governing the payment of interest on
the Notes. Following the cure of all Registration Defaults requiring the payment of Additional Interest to the Holders of Notes that are Registrable Securities pursuant to this Section 2, the accrual of Additional Interest will cease (without
in any way limiting the effect of any subsequent Registration Default requiring the payment of Additional Interest). Notwithstanding any provision in this Agreement, in no event shall Additional Interest accrue to Holders of Shares issued upon
conversion of Notes. 
 The Company shall notify the Trustee immediately upon the happening of each and every Registration Default. The
Trustee shall be entitled, on behalf of Holders of Securities, to seek any available remedy for the enforcement of this Agreement, including for the payment of any Additional Interest. Notwithstanding the foregoing, the parties agree that the sole
monetary damages payable for a violation of the terms of this Agreement with respect to which additional monetary amounts are expressly provided shall be as set forth in this Section 2(d). Nothing shall preclude a Notice Holder or Holder of
Registrable Securities from pursuing or obtaining specific performance or other equitable relief with respect to this Agreement. 
 (e) A Shelf Registration Statement pursuant to this Section 2 will not be deemed to have become effective unless it has been declared effective by the Commission or is automatically effective upon filing with the Commission as provided
by Rule 462 under the Securities Act. 
 3. Registration Procedures. 
 The following provisions shall apply to the Shelf Registration Statement filed pursuant to Section 2: 
 (a) The Company shall: 
 (i)
prepare and file with the Commission a registration statement with respect to the shelf registration on any form which may be utilized by the Company and which shall permit the disposition of the Registrable Securities in accordance with the
intended method or methods thereof, as specified in writing by the Holders of the Registrable Securities, and use its reasonable best efforts to cause such registration statement to become effective in accordance with Section 2(a) above;

 (ii) before filing any Shelf Registration Statement or Prospectus or any amendments or supplements thereto with the
Commission, furnish to the Initial Purchasers copies of all such documents proposed to be filed and use its reasonable best efforts to reflect in each such document when so filed with the Commission such comments as the Initial Purchasers reasonably
shall propose within three (3) Business Days of the delivery of such copies to the Initial Purchasers; 
  

 7 

 (iii) use its reasonable best efforts to prepare and file with the Commission such
amendments and post-effective amendments to the Shelf Registration Statement and file with the Commission any other required document as may be necessary to keep such Shelf Registration Statement continuously effective until the expiration of the
Effective Period; cause the related Prospectus to be supplemented by any required prospectus supplement, and as so supplemented to be filed pursuant to Rule 424 (or any similar provisions then in force) under the Securities Act; and comply with the
provisions of the Securities Act applicable to it with respect to the disposition of all Securities covered by such Shelf Registration Statement during the Effective Period in accordance with the intended methods of disposition by the sellers
thereof set forth in such Shelf Registration Statement as so amended or such Prospectus as so supplemented; 
 (iv) promptly
notify the Notice Holders of Registrable Securities (A) when such Shelf Registration Statement or the Prospectus included therein or any amendment or supplement to the Prospectus or post-effective amendment has been filed with the Commission,
and, with respect to such Shelf Registration Statement or any post-effective amendment, when the same has become effective, (B) of any request, following the effectiveness of the Shelf Registration Statement, by the Commission or any other
federal or state governmental authority for amendments or supplements to the Shelf Registration Statement or related Prospectus or for additional information relating thereto, (C) of the issuance by the Commission of any stop order suspending
the effectiveness of such Shelf Registration Statement or the initiation or written threat of any proceedings for that purpose, including the receipt by the Company of any notice of objection of the Commission to the use of a Shelf Registration
Statement or any post-effective amendment thereto pursuant to Rule 401(g)(2) under the Securities Act, (D) of the receipt by the Company of any notification with respect to the suspension of the qualification of the Registrable Securities for
sale in any jurisdiction or the initiation or written threat of any proceeding for such purpose, (E) of the determination by the Company that a post-effective amendment to the Shelf Registration Statement will be filed with the Commission,
which notice may, at the discretion of the Company (or as required pursuant to Section 3(b)), state that it constitutes a Deferral Notice, in which event the provisions of Section 3(b) shall apply or (F) at any time when a Prospectus
is required to be delivered under the Securities Act, that the Shelf Registration Statement, Prospectus, Prospectus amendment or supplement or post-effective amendment does not conform in all material respects to the applicable requirements of the
Securities Act and the Trust Indenture Act and the rules and regulations of the Commission thereunder; 
 (v) prior to any
public offering of the Registrable Securities pursuant to the Shelf Registration Statement, use its reasonable best efforts to register or qualify, or cooperate with the Notice Holders of Securities included therein and their respective counsel in
connection with the registration or qualification of, such Securities for offer and sale under the securities or blue sky laws of such jurisdictions as any such Notice Holders reasonably requests in writing and do any and all other acts or things
necessary or advisable to enable the offer and sale in such jurisdictions of the Securities covered by the Shelf Registration Statement; prior to any public offering of the Registrable Securities pursuant to the Shelf Registration Statement, use its
reasonable best efforts to keep each such registration or qualification (or exemption therefrom) effective during the Effective Period in connection with such Notice Holder’s offer and sale of Registrable Securities pursuant to such
registration or qualification (or exemption therefrom) and do any and all other acts or things necessary or advisable to enable the disposition in such jurisdictions of such Registrable Securities in the manner set forth in the Shelf Registration
Statement and the related Prospectus; provided that the Company will not be required to qualify generally to do business in any jurisdiction where it is not then so qualified or to take any action which would subject it to general service of
process or to taxation in any such jurisdiction where it is not then so subject; 
  

 8 

 (vi) use its reasonable best efforts to prevent the issuance of, and if issued, to obtain
the withdrawal of any order suspending the effectiveness of the Shelf Registration Statement or, in the event of an objection of the Commission pursuant to Rule 401(g)(2), promptly file an amendment to such Shelf Registration Statement on the proper
form, and to lift any suspension of the qualification of any of the Registrable Securities for sale in any jurisdiction in which they have been qualified for sale, in each case at the earliest practicable date; 
 (vii) upon reasonable notice, for a reasonable period prior to the filing of the Shelf Registration Statement, and throughout the
Effective Period, (i) make reasonably available for inspection by a representative of, and Special Counsel acting for, Majority Holders of the Securities being sold and any underwriter (and its counsel) participating in any disposition of
Securities pursuant to such Shelf Registration Statement, all relevant financial and other records, pertinent corporate documents and properties of the Company and its subsidiaries and (ii) use reasonable best efforts to have its officers,
directors, employees, accountants and counsel supply all relevant information reasonably requested by such representative, Special Counsel or any such underwriter in connection with such Shelf Registration Statement; 
 (viii) if reasonably requested by the Initial Purchasers or any Notice Holder, promptly incorporate in a prospectus supplement or
post-effective amendment to the Shelf Registration Statement such information as the Initial Purchasers or such Notice Holder shall, on the basis of a written opinion of nationally-recognized counsel experienced in such matters, determine to be
required to be included therein by applicable law and make any required filings of such prospectus supplement or such post-effective amendment; provided, that the Company shall not be required to take any actions under this
Section 3(a)(viii) that are not, in the reasonable opinion of counsel for the Company, in compliance with applicable law; 
 (ix) promptly furnish to each Notice Holder and the Initial Purchasers, upon their request and without charge, at least one (1) conformed copy of the Shelf Registration Statement and any amendments thereto, including financial
statements but excluding schedules, all documents incorporated or deemed to be incorporated therein by reference and all exhibits; provided, however, that the Company shall have no obligation to deliver to Notice Holders or the Initial
Purchasers a copy of any amendment consisting exclusively of an Exchange Act report or other Exchange Act filing otherwise publicly available on the Company’s website; 
 (x) during the Effective Period, deliver to each Notice Holder in connection with any sale of Registrable Securities pursuant to the Shelf
Registration Statement, without charge, as many copies of the Prospectus relating to such Registrable Securities (including each preliminary prospectus) and any amendment or supplement thereto as such Notice Holder may reasonably request; and the
Company hereby consents (except during such periods that a Deferral Notice is outstanding and has not been revoked) to the use of such Prospectus or each amendment or supplement thereto by each Notice Holder in connection with any offering and sale
of the Registrable Securities covered by such Prospectus or any amendment or supplement thereto in the manner set forth therein; and 
 (xi) cooperate with the Notice Holders of Securities to facilitate the timely preparation and delivery of certificates representing Securities to be sold pursuant to the Shelf Registration Statement free of any restrictive legends and in
such denominations and registered in such names as the Holders thereof may request in writing at least two (2) Business Days prior to sales of Securities pursuant to such Shelf Registration Statement; provided that nothing herein shall
require the Company to deliver certificated Notes to any beneficial holder of Notes except as required by the Indenture. 
  

 9 

 (b) Upon (A) the issuance by the Commission of a stop order suspending the
effectiveness of the Shelf Registration Statement or the initiation of proceedings with respect to the Shelf Registration Statement under Section 8(d) or 8(e) of the Securities Act, (B) the occurrence of any event or the existence of any
event or the existence of any fact (a “Material Event”) as a result of which the Shelf Registration Statement shall contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or
necessary to make the statements therein not misleading, or any Prospectus shall contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in the
light of the circumstances under which they were made, not misleading, or (C) the occurrence or existence of any corporate development that, in the discretion of the Company, makes it appropriate to suspend the availability of the Shelf
Registration Statement and the related Prospectus, the Company will (i) in the case of clause (B) above, subject to the third sentence of this provision, as promptly as is practicable prepare and file a post-effective amendment to such
Shelf Registration Statement or a supplement to the related Prospectus or any document incorporated therein by reference or file any other required document that would be incorporated by reference into such Shelf Registration Statement and
Prospectus so that such Shelf Registration Statement does not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and such
Prospectus does not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not
misleading, as thereafter delivered (or, to the extent permitted by law, made available) to the purchasers of the Registrable Securities being sold thereunder, and, in the case of a post-effective amendment to the Shelf Registration Statement,
subject to the third sentence of this provision, use its reasonable best efforts to cause it to be declared effective or otherwise become effective as promptly as is practicable, and (ii) give notice to the Notice Holders that the availability
of the Shelf Registration Statement is suspended (a “Deferral Notice”). Upon receipt of any Deferral Notice, each Notice Holder agrees not to sell any Registrable Securities pursuant to the Shelf Registration Statement until such
Notice Holder’s receipt of copies of the supplemented or amended Prospectus provided for in clause (i) above, or until it is advised in writing by the Company that the Prospectus may be used, and has received copies of any additional or
supplemental filings that are incorporated or deemed incorporated by reference in such Prospectus. The Company will use its reasonable best efforts to ensure that the use of the Prospectus may be resumed (x) in the case of clause
(A) above, as promptly as is practicable, (y) in the case of clause (B) above, as soon as, in the sole judgment of the Company, public disclosure of such Material Event would not be prejudicial to or contrary to the interests of the
Company or, if necessary to avoid unreasonable burden or expense, as soon as practicable thereafter and (z) in the case of clause (C) above, as soon as, in the discretion of the Company, such suspension is no longer appropriate;
provided that the period during which the availability of the Shelf Registration Statement and any Prospectus is suspended (the “Deferral Period”), without the Company incurring any obligation to pay Additional Interest
pursuant to Section 2(d), shall not exceed one hundred twenty (120) calendar days in the aggregate in any twelve (12)-month period; provided, further that in the case of a Deferral Notice in connection with clause (C), if the
development relates to a proposed or pending material business transaction, the disclosure of which the Company’s board of directors determines in good faith would be reasonably likely to impede the Company’s ability to consummate such
transaction, or would otherwise be seriously detrimental to the Company and its subsidiaries taken as a whole, the Company may extend the Deferral Period from one hundred twenty (120) calendar days to one hundred fifty (150) calendar days
in the aggregate in any twelve (12)-month period, without the Company incurring any obligation to pay Additional Interest pursuant to Section 2(d). 
 (c) Each Holder of Registrable Securities agrees that upon receipt of any Deferral Notice from the Company, such Holder shall forthwith discontinue (and cause any placement or sales agent or underwriters acting on
their behalf to discontinue) the disposition of Registrable Securities 

  

 10 

 
pursuant to the registration statement applicable to such Registrable Securities until such Holder (i) shall have received copies of such amended or
supplemented Prospectus and, if so directed by the Company, such Holder shall deliver to the Company (at the Company’s expense) all copies, other than permanent file copies, then in such Holder’s possession of the Prospectus covering such
Registrable Securities at the time of receipt of such notice or (ii) shall have received notice from the Company that the disposition of Registrable Securities pursuant to the Shelf Registration may continue. 
 (d) The Company may require each Holder of Registrable Securities as to which any registration pursuant to Section 2(a) is being
effected to furnish to the Company such information regarding such Holder and such Holder’s intended method of distribution of such Registrable Securities as the Company may from time to time reasonably request in writing, but only to the
extent that such information is required in order to comply with the Securities Act. Each such Holder agrees to notify the Company as promptly as practicable of any inaccuracy or change in information previously furnished by such Holder to the
Company or of the occurrence of any event in either case as a result of which any Prospectus relating to such registration contains or would contain an untrue statement of a material fact regarding such Holder or such Holder’s intended method
of disposition of such Registrable Securities or omits to state any material fact regarding such Holder or such Holder’s intended method of disposition of such Registrable Securities required to be stated therein or necessary to make the
statements therein not misleading, and promptly to furnish to the Company any additional information required to correct and update any previously furnished information or required so that such Prospectus shall not contain, with respect to such
Holder or the disposition of such Registrable Securities, an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading. 
 (e) The Company shall comply with all applicable rules and regulations of the Commission and make generally available to its
securityholders earning statements (which need not be audited) satisfying the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder (or any similar rule promulgated under the Securities Act), which statements shall cover a
period of twelve (12) months commencing on the first day of the first fiscal quarter of the Company commencing after the effective date of each Shelf Registration Statement (within the meaning of Rule 158(c) under the Securities Act), and which
statements shall be so made generally available to the Company’s securityholders as follows: (i) with respect to an earnings statement which will be contained in one report on Form 10-K (or any other form as may then be available for such
purpose), such earnings statement shall be made so generally available no later than the due date by which the Company is required, pursuant to the Exchange Act (subject to any applicable extensions under Rule 12b-25 thereunder), to file such report
with the Commission; and (ii) with respect to an earnings statement which will be contained in any combination of reports on Form 10-K or Form 10-Q (or any other form(s) as may then be available for such purpose), such earnings statement shall
be made so generally available no later than the due date by which the Company is required, pursuant to the Exchange Act (subject to any applicable extensions under Rule 12b-25 thereunder), to file the last of such reports with the Commission which
together constitute such earnings statement. 
 (f) The Company shall provide a CUSIP number for all Registrable Securities
covered by the Shelf Registration Statement not later than the initial effective date of such Shelf Registration Statement and provide the Trustee for the Notes and the transfer agent for the Shares with printed certificates for the Registrable
Securities that are in a form eligible for deposit with The Depository Trust Company. 
 (g) The Company shall use its
reasonable best efforts to provide such information as is required for any filings required to be made with the National Association of Securities Dealers, Inc. 
  

 11 

 (h) Until the expiration of two (2) years after the Closing Date, the Company will
not, and will not permit any of its “affiliates” (as defined in Rule 144) to, resell any of the Securities that have been reacquired by any of them except pursuant to an effective registration statement under the Securities Act.

 (i) The Company shall cause the Indenture to be qualified under the Trust Indenture Act in a timely manner. 
 4. Holder’s Obligations. 
 Each
Holder agrees, by acquisition of the Registrable Securities, that no Holder of Registrable Securities shall be entitled to sell any of such Registrable Securities pursuant to the Shelf Registration Statement or to receive a Prospectus relating
thereto, unless such Holder has furnished the Company with a Notice and Questionnaire as required pursuant to Section 2(c) (including the information required to be included in such Notice and Questionnaire) and the information set forth in the
next sentence. Each Notice Holder agrees promptly to furnish to the Company all information required to be disclosed in order to make the information previously furnished to the Company by such Notice Holder not misleading and any other information
regarding such Notice Holder and the distribution of such Registrable Securities as may be required to be disclosed in the Shelf Registration Statement under applicable law or pursuant to Commission comments. Each Holder further agrees not to sell
any Registrable Securities pursuant to the Shelf Registration Statement without delivering, or causing to be delivered, a Prospectus to the purchaser thereof and, following termination of the Effective Period, to notify the Company, within ten
(10) Business Days of a request by the Company, of the amount of Registrable Securities sold pursuant to the Shelf Registration Statement and, in the absence of a response, the Company may assume that all of the Holder’s Registrable
Securities were so sold. 
 5. Registration Expenses. 
 The Company agrees to bear and to pay or cause to be paid promptly upon request being made therefor all expenses incident to the Company’s performance of or compliance with this Agreement, including, but not
limited to, (a) all Commission and any NASD registration and filing fees and expenses, (b) all fees and expenses in connection with the qualification of the Securities for offering and sale under the state securities and blue sky laws
referred to in Section 3(a)(v), including reasonable fees and disbursements of one counsel for the placement agent or underwriters, if any, in connection with such qualifications, (c) all expenses relating to the preparation, printing,
distribution and reproduction of the Shelf Registration Statement, the related Prospectus and each amendment or supplement to each of the foregoing, the certificates representing the Securities and all other documents relating hereto, (d) fees
and expenses of the Trustee under the Indenture, any escrow agent or custodian, and of the registrar and transfer agent for the Shares, (e) fees, disbursements and expenses of counsel and independent certified public accountants of the Company
(including the expenses of any opinions or “cold comfort” letters required by or incident to such performance and compliance) and (f) reasonable fees, disbursements and expenses (not to exceed $25,000) of not more than one counsel for
the Holders of Registrable Securities retained in connection with the Shelf Registration Statement, as selected by the Company (unless reasonably objected to by the Majority Holders of the Registrable Securities being registered, in which case the
Majority Holders shall select such counsel for the Holders) (“Special Counsel”), and fees, expenses and disbursements of any other Persons, including special experts, retained by the Company in connection with such registration
(collectively, the “Registration Expenses”). To the extent that any Registration Expenses are incurred, assumed or paid by any Holder of Registrable Securities or any underwriter or placement agent therefor, the Company shall
reimburse such Person for the full amount of the Registration Expenses so incurred, assumed or paid promptly after receipt of a documented request therefor. Notwithstanding the foregoing, the Holders of the Registrable Securities being registered
shall 

  

 12 

 
pay all underwriting discounts and commissions and placement agent fees and commissions attributable to the sale of such Registrable Securities and the fees
and disbursements of any counsel or other advisors or experts retained by such Holders (severally or jointly), other than the counsel and experts specifically referred to above. 
 6. Indemnification. 
 (a) The Company
shall indemnify and hold harmless each Holder (including, without limitation, the Initial Purchasers), its affiliates, their respective officers, directors, employees, representatives and agents, and each person, if any, who controls such Holder
within the meaning of the Securities Act or the Exchange Act (collectively referred to for purposes of this Section 6 and Section 7 as a Holder) from and against any loss, claim, damage or liability, joint or several, or any action in
respect thereof (including, without limitation, any loss, claim, damage, liability or action relating to purchases and sales of Securities), to which that Holder may become subject, whether commenced or threatened, under the Securities Act, the
Exchange Act, any other federal or state statutory law or regulation, at common law or otherwise, insofar as such loss, claim, damage, liability or action arises out of, or is based upon, (i) any untrue statement or alleged untrue statement of
a material fact contained in any such Registration Statement, (ii) any untrue statement or alleged untrue statement of a material fact contained in any Prospectus, any Free Writing Prospectus or any “issuer information”
(“Issuer Information”) filed or required to be filed pursuant to Rule 433(d) under the Securities Act or (iii) any omission or alleged omission to state therein a material fact required to be stated therein or necessary in
order to make the statements therein, in the light of the circumstances under which they were made, not misleading, and shall reimburse each Holder promptly upon demand for any legal or other expenses reasonably incurred by that Holder in connection
with investigating or defending or preparing to defend against or appearing as a third party witness in connection with any such loss, claim, damage, liability or action as such expenses are incurred; provided, however, that the Company shall
not be liable in any such case to the extent that any such loss, claim, damage, liability or action arises out of, or is based upon, an untrue statement or alleged untrue statement in or omission or alleged omission from any of such documents in
reliance upon and in conformity with any information provided by a Holder in its most recent Notice and Questionnaire. This indemnity agreement shall be in addition to any liability that the Company may otherwise have. 
 The Company also shall indemnify and hold harmless as provided in this Section 6(a) or contribute as provided in Section 7 with respect to any
loss, claim, damage, liability or action of each underwriter, if any, of Securities registered under the Shelf Registration Statement, its affiliates, their respective officers, directors, employees, representatives and agents, and each person, if
any, who controls such underwriter within the meaning of the Securities Act or the Exchange Act on substantially the same basis as that of the indemnification of the selling Holders provided in this Section 6(a) and shall, if requested by any
Holder, enter into an underwriting agreement reflecting such agreement. 
 (b) Each Holder shall indemnify and hold harmless the Company and
its affiliates, their respective officers, directors, employees, representatives and agents, and each person, if any, who controls the Company within the meaning of the Securities Act or the Exchange Act (collectively referred to for purposes of
this Section 6(b) and Section 7 as the Company), from and against any loss, claim, damage or liability, joint or several, or any action in respect thereof, to which the Company may become subject, whether commenced or threatened, under the
Securities Act, the Exchange Act, any other federal or state statutory law or regulation, at common law or otherwise, insofar as such loss, claim, damage, liability or action arises out of, or is based upon, (i) any untrue statement or alleged
untrue statement of a material fact contained in any such Registration Statement or any prospectus forming part thereof or in any amendment or supplement thereto or (ii) the omission or alleged omission to state therein a material fact required
to be stated therein or necessary in order to make the 

  

 13 

 
statements therein, in the light of the circumstances under which they were made, not misleading, but in each case only to the extent that the untrue
statement or alleged untrue statement or omission or alleged omission was made in reliance upon and in conformity with any information furnished to the Company by such Holder in its most recent Notice and Questionnaire, and shall reimburse the
Company for any legal or other expenses reasonably incurred by the Company in connection with investigating or defending or preparing to defend against or appearing as a third party witness in connection with any such loss, claim, damage, liability
or action as such expenses are incurred; provided, however, that no such Holder shall be liable for any indemnity claims hereunder in excess of the amount of net proceeds received by such Holder from the sale of Securities pursuant to such
Shelf Registration Statement. This indemnity agreement will be in addition to any liability which any such Holder may otherwise have. 
 (c)
Promptly after receipt by an indemnified party under this Section 6 of notice of any claim or the commencement of any action, the indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party pursuant to
Section 6(a) or 6(b), notify the indemnifying party in writing of the claim or the commencement of that action; provided, however, that the failure to notify the indemnifying party shall not relieve it from any liability which it may
have under this Section 6 except to the extent that it has been materially prejudiced (through the forfeiture of substantive rights or defenses) by such failure; and provided, further, that the failure to notify the indemnifying party
shall not relieve it from any liability which it may have to an indemnified party otherwise than under this Section 6. If any such claim or action shall be brought against an indemnified party, and it shall notify the indemnifying party
thereof, the indemnifying party shall be entitled to participate therein and, to the extent that it wishes, jointly with any other similarly notified indemnifying party, to assume the defense thereof with counsel reasonably satisfactory to the
indemnified party. After notice from the indemnifying party to the indemnified party of its election to assume the defense of such claim or action, the indemnifying party shall not be liable to the indemnified party under this Section 6 for any
legal or other expenses subsequently incurred by the indemnified party in connection with the defense thereof other than the reasonable costs of investigation; provided, however, that an indemnified party shall have the right to employ its
own counsel in any such action, but the fees, expenses and other charges of such counsel for the indemnified party will be at the expense of such indemnified party unless (1) the employment of counsel by the indemnified party has been
authorized in writing by the indemnifying party, (2) the indemnified party has reasonably concluded (based upon advice of counsel to the indemnified party) that there may be legal defenses available to it or other indemnified parties that are
different from or in addition to those available to the indemnifying party, (3) a conflict or potential conflict exists (based upon advice of counsel to the indemnified party) between the indemnified party and the indemnifying party (in which
case the indemnifying party will not have the right to direct the defense of such action on behalf of the indemnified party) or (4) the indemnifying party has not in fact employed counsel reasonably satisfactory to the indemnified party to
assume the defense of such action within a reasonable time after receiving notice of the commencement of the action, in each of which cases the reasonable fees, disbursements and other charges of counsel will be at the expense of the indemnifying
party or parties. It is understood that the indemnifying party or parties shall not, in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the reasonable fees, disbursements and other charges of more than
one separate firm of attorneys (in addition to any local counsel) at any one time for all such indemnified party or parties. Each indemnified party, as a condition of the indemnity agreements contained in Sections 6(a) and 6(b), shall use all
reasonable efforts to cooperate with the indemnifying party in the defense of any such action or claim. No indemnifying party shall be liable for any settlement of any such action effected without its written consent (which consent shall not be
unreasonably withheld), but if settled with its written consent or if there be a final judgment for the plaintiff in any such action, the indemnifying party agrees to indemnify and hold harmless any indemnified party from and against any loss or
liability by reason of 

  

 14 

 
such settlement or judgment or if the indemnifying party has not paid the expenses and fees for which it is liable twenty (20) calendar days after
notice by the indemnified party of request for reimbursement. No indemnifying party shall, without the prior written consent of the indemnified party (which consent shall not be unreasonably withheld), effect any settlement of any pending or
threatened proceeding in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified party, unless such settlement (i) includes an unconditional release of such
indemnified party from all liability on claims that are the subject matter of such proceeding and (ii) does not include a statement or admission of fault, culpability or a failure to act, by or on behalf of the indemnified party. 
 (d) The provisions of this Section 6 and Section 7 shall remain in full force and effect, regardless of any investigation made by or on behalf
of any Holder, the Company or any of the indemnified Persons referred to in this Section 6 and Section 7, and shall survive the sale by a Holder of securities covered by the Shelf Registration Statement. 
 7. Contribution. 
 If the
indemnification provided for in Section 6 is unavailable or insufficient to hold harmless an indemnified party under Section 6(a) or 6(b), then each indemnifying party shall, in lieu of indemnifying such indemnified party, contribute to
the amount paid or payable by such indemnified party as a result of such loss, claim, damage or liability, or action in respect thereof, (i) in such proportion as shall be appropriate to reflect the relative benefits received by the Company
from the offering and sale of the Notes, on the one hand, and a Holder with respect to the sale by such Holder of Securities, on the other, or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such
proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the relative fault of the Company on the one hand and such Holder on the other with respect to the statements or omissions that
resulted in such loss, claim, damage or liability, or action in respect thereof, as well as any other relevant equitable considerations. The relative benefits received by the Company on the one hand and a Holder on the other with respect to such
offering and such sale shall be deemed to be in the same proportion as the total net proceeds from the offering of the Notes (before deducting expenses) received by or on behalf of the Company, on the one hand, and the total discounts and
commissions received by such Holder with respect to the Securities, on the other, bear to the total gross proceeds from the sale of Securities. The relative fault shall be determined by reference to, among other things, whether the untrue or alleged
untrue statement of a material fact or the omission or alleged omission to state a material fact relates to the Company or information supplied by the Company on the one hand or to any information contained in the relevant Notice and Questionnaire
supplied by such Holder on the other, the intent of the parties and their relative knowledge, access to information and opportunity to correct or prevent such untrue statement or omission. The parties hereto agree that it would not be just and
equitable if contributions pursuant to this Section 7 were to be determined by pro rata allocation or by any other method of allocation that does not take into account the equitable considerations referred to herein. The amount paid or
payable by an indemnified party as a result of the loss, claim, damage or liability, or action in respect thereof, referred to above in this Section 7 shall be deemed to include, for purposes of this Section 7, any legal or other expenses
reasonably incurred by such indemnified party in connection with investigating or defending or preparing to defend any such action or claim. Notwithstanding the provisions of this Section 7, an indemnifying party that is a Holder of Securities
shall not be required to contribute any amount in excess of the amount by which the total price at which the Securities sold by such indemnifying party to any purchaser exceeds the amount of any damages which such indemnifying party has otherwise
paid or become liable to pay by reason of any untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to
contribution from any person who was not guilty 

  

 15 

 
of such fraudulent misrepresentation. The Holders’ obligations to contribute pursuant to this Section 7 are several and not joint. 
 8. Rule 144A and Rule 144. 
 So long
as any Registrable Securities remain outstanding, the Company shall use its reasonable best efforts to file the reports required to be filed by it under Rule 144A(d)(4) under the Securities Act and the Exchange Act in a timely manner and, if at any
time the Company is not required to file such reports, it will, upon the written request of any Holder of Registrable Securities, make publicly available other information so long as necessary to permit sales of such Holder’s securities
pursuant to Rules 144 and 144A. The Company covenants that it will take such further action as any Holder of Registrable Securities may reasonably request, all to the extent required from time to time to enable such Holder to sell Registrable
Securities without registration under the Securities Act within the limitation of the exemptions provided by Rules 144 and 144A (including, without limitation, the requirements of Rule 144A(d)(4)). Upon the written request of any Holder of
Registrable Securities, the Company shall deliver to such Holder a written statement as to whether it has complied with such requirements. Notwithstanding the foregoing, nothing in this Section 8 shall be deemed to require the Company to
register any of its securities pursuant to the Exchange Act. 
 9. Miscellaneous. 
 (a) Amendments and Waivers. The provisions of this Agreement may not be amended, modified or supplemented, and waivers or consents to departures
from the provisions hereof may not be given, unless the Company has obtained the written consent of Majority Holders. Notwithstanding the foregoing, a waiver or consent to depart from the provisions hereof with respect to a matter that relates
exclusively to the rights of Holders whose Securities are being sold pursuant to the Shelf Registration Statement and that does not directly or indirectly affect the rights of other Holders may be given by Holders of a majority in aggregate amount
of the Securities being sold by such Holders pursuant to the Shelf Registration Statement. 
 (b) Notices. All notices and other
communications provided for or permitted hereunder shall be made in writing by hand-delivery, first-class mail, telecopier or air courier guaranteeing next-day delivery: 
 (i) If to the Company, initially at the address set forth in the Purchase Agreement; 
 (ii) If to the Initial Purchasers, initially at its address set forth in the Purchase Agreement; and 
 (iii) If to a Holder, to the address of such Holder set forth in the security register, the Notice and Questionnaire or other records of
the Company. 
 All such notices and communications shall be deemed to have been duly given: when delivered by hand, if personally delivered;
one (1) Business Day after being delivered to a next-day air courier; five (5) Business Days after being deposited in the mail; and when receipt is acknowledged by the recipient’s telecopier machine, if sent by telecopier. 

(c) Successors and Assigns. This Agreement shall be binding upon the Company and its successors and assigns. 
  

 16 

 (d) Counterparts. This Agreement may be executed in any number of counterparts (which may be
delivered in original form or by telecopier) 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.

 (e) Definition of Terms. For purposes of this Agreement, (a) the term “subsidiary” has the meaning set forth in
Rule 405 under the Securities Act and (b) except where otherwise expressly provided, the term “affiliate” has the meaning set forth in Rule 405 under the Securities Act. 
 (f) Headings. The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning hereof.

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

 (h) Remedies. In the event of a breach by the Company or by any Holder of any of their respective obligations under this Agreement,
each Holder or the Company, as the case may be, in addition to being entitled to exercise all rights granted by law, including recovery of damages (other than the recovery of damages for a breach by the Company of its obligations under
Section 2 for which Additional Interest have been paid pursuant to Section 3), will be entitled to specific performance of its rights under this Agreement. The Company and each Holder agree that monetary damages would not be adequate
compensation for any loss incurred by reason of a breach by it of any of the provisions of this Agreement and hereby further agree that, in the event of any action for specific performance in respect of such breach, it shall waive the defense that a
remedy at law would be adequate. 
 (i) No Inconsistent Agreements. The Company represents, warrants and agrees that (i) it has
not entered into, and shall not, on or after the date of this Agreement, enter into any agreement that is inconsistent with the rights granted to the Holders in this Agreement or otherwise conflicts with the provisions hereof, (ii) it has not
previously entered into any agreement which remains in effect granting any registration rights with respect to any of its debt securities to any person and (iii) without limiting the generality of the foregoing, without the written consent of
the Holders of a majority in aggregate principal amount of the then outstanding Registrable Securities, it shall not grant to any person the right to request the Company to register any debt securities of the Company under the Securities Act unless
the rights so granted are not in conflict or inconsistent with the provisions of this Agreement. 
 (j) No Piggyback on Registrations.
Neither the Company nor any of its security holders (other than the Holders of Registrable Securities in such capacity) shall have the right to include any securities of the Company in any Shelf Registration Statement other than Registrable
Securities, except as provided for in the Offering Memorandum or the documents incorporated by reference into the Offering Memorandum. 
 (k)
Severability. The remedies provided herein are cumulative and not exclusive of any remedies provided by law. If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid,
illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use
their reasonable best efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the
intention of the parties that they would have executed the remaining 

  

 17 

 
terms, provisions, covenants and restrictions without including any of such that may be hereafter declared invalid, illegal, void or unenforceable.

 (l) Survival. The respective indemnities, agreements, representations, warranties and each other provision set forth in this
Agreement or made pursuant hereto shall remain in full force and effect regardless of any investigation (or statement as to the results thereof) made by or on behalf of any Holder of Registrable Securities, any director, officer or partner of such
Holder, any agent or underwriter or any director, officer or partner thereof, or any controlling person of any of the foregoing, and shall survive delivery of and payment for the Registrable Securities pursuant to the Purchase Agreement and the
transfer and registration of Registrable Securities by such Holder. 
 (m) Securities Held by the Company, etc. Whenever the consent
or approval of Holders of a specified percentage of Securities is required hereunder, Securities held by the Company or its affiliates (other than subsequent Holders of Securities if such subsequent Holders are deemed to be affiliates solely by
reason of their holdings of such Securities) shall not be counted in determining whether such consent or approval was given by the Holders of such required percentage. 
  

 18 

 If the foregoing is in accordance with your understanding of our agreement, kindly sign and return to us
a counterpart hereof, whereupon this instrument will become a binding agreement between the Company and the Initial Purchasers in accordance with its terms. 
  

			
	 Very truly yours,

	
	 SBA COMMUNICATIONS CORPORATION

		
	 By:
	 	 /s/ Thomas P. Hunt

	 Name:
	 	Thomas P. Hunt
	 Title:
	 	Sr. VP and General Counsel

 The foregoing Agreement is hereby confirmed and accepted as of the date first above written. 
  

			
	LEHMAN BROTHERS INC.
		
	By:	 	 /s/ Michael Sherman
  

	Name:	 	Michael Sherman
	Title:	 	Managing Director, Head of Convertible Origination

  

			
	CITIGROUP GLOBAL MARKETS INC.
		
	By:	 	 /s/ William Ortner
  

	Name:	 	William Ortner
	Title:	 	Managing Director

  

			
	DEUTSCHE BANK SECURITIES INC.
		
	By:	 	 /s/ J.S. Amling
  

	Name:	 	J.S. Amling
	Title:	 	Vice Chair / Managing Director

  

			
	By:	 	 /s/ Malcolm Morris
  

	Name:	 	Malcolm Morris
	Title:	 	Managing Director

 Each for itself and as a Representative of the other Initial Purchasers.

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