Document:

exv10w24

Exhibit 10.24

SUPPLEMENTAL INDENTURE OF CC FINCO HOLDINGS, LLC

Supplemental Indenture (this “Supplemental Indenture”), dated as of December 9, 2008, among
CC Finco Holdings, LLC (the “Guaranteeing Subsidiary”), a subsidiary of Clear Channel
Communications, Inc., a Texas corporation (the “Issuer”) and Law Debenture Trust Company of
New York, as trustee (the “Trustee”).

W I T N E S S E T H

WHEREAS, Clear Channel Communications, Inc. has heretofore executed and delivered to the Trustee an
indenture (the “Indenture”), dated as of July 30, 2008, providing for the issuance of an
unlimited aggregate principal amount of 10.75% Senior Cash Pay Notes due 2016 (the “Senior Cash
Pay Notes”) and 11.00% / 11.75% Senior Toggle Notes due 2016 (the “Senior Toggle Notes”
and together with the Senior Cash Pay Notes, the “Notes”);

WHEREAS, the Indenture provides that under certain circumstances the Guaranteeing Subsidiary shall
execute and deliver to the Trustee a supplemental indenture pursuant to which the Guaranteeing
Subsidiary shall unconditionally guarantee all of the Issuer’s Obligations under the Notes and the
Indenture on the terms and conditions set forth herein and under the Indenture (the
“Guarantee”); and

WHEREAS, pursuant to Section 9.01 of the Indenture, the Trustee is authorized to execute and
deliver this Supplemental Indenture.

NOW THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the
receipt of which is hereby acknowledged, the parties mutually covenant and agree for the equal and
ratable benefit of the Holders of the Notes as follows:

     (1) Capitalized Terms. Capitalized terms used herein without definition shall have
the meanings assigned to them in the Indenture.

     (2) Agreement to Guarantee. The Guaranteeing Subsidiary hereby agrees to provide an
unconditional Guarantee on the terms and subject to the conditions set forth in the Indenture
including but not limited to Articles 10 and 11 thereof.

     (3) No Recourse Against Others. No past, present or future director, officer,
employee, incorporator, member, partner or stockholder of the Guaranteeing Subsidiary or any of its
direct or indirect parent companies shall have any liability for any obligations of the Issuer or
the Guarantors (including the Guaranteeing Subsidiary) under the Notes, any Guarantees, the
Indenture or this Supplemental Indenture or for any claim based on, in respect of, or by reason of,
such obligations or their creation. Each Holder by accepting Notes waives and releases all such
liability. The waiver and release are part of the consideration for issuance of the Notes.

     (4) Governing Law. THIS SUPPLEMENTAL INDENTURE WILL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.

     (5) Counterparts. The parties may sign any number of copies of this Supplemental
Indenture. Each signed copy shall be an original, but all of them together represent the same
agreement.

     (6) Effect of Headings. The Section headings herein are for convenience only and
shall not affect the construction hereof.

     (7) The Trustee. The Trustee shall not be responsible in any manner whatsoever for or
in respect of the validity or sufficiency of this Supplemental Indenture or for or in respect of
the recitals contained herein, all of which recitals are made solely by the Guaranteeing
Subsidiary.

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     (8) Subrogation. The Guaranteeing Subsidiary shall be subrogated to all rights of
Holders of Notes against the Issuer in respect of any amounts paid by the Guaranteeing Subsidiary
pursuant to the provisions of Section 2 hereof and Section 10.01 of the Indenture; provided
that, if an Event of Default has occurred and is continuing, the Guaranteeing Subsidiary shall not
be entitled to enforce or receive any payments arising out of, or based upon, such right of
subrogation until all amounts then due and payable by the Issuer under the Indenture or the Notes
shall have been paid in full.

     (9) Benefits Acknowledged. The Guaranteeing Subsidiary’s Guarantee is subject to the
terms and conditions set forth in the Indenture. The Guaranteeing Subsidiary acknowledges that it
will receive direct and indirect benefits from the financing arrangements contemplated by the
Indenture and this Supplemental Indenture and that the guarantee and waivers made by it pursuant to
this Guarantee are knowingly made in contemplation of such benefits.

     (10) Successors. All agreements of the Guaranteeing Subsidiary in this Supplemental
Indenture shall bind its Successors, except as otherwise provided in the Indenture or in this
Supplemental Indenture. All agreements of the Trustee in this Supplemental Indenture shall bind
its successors.

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IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed,
all as of the date first above written.

	 	 	 	 	 
	 	CC FINCO HOLDINGS, LLC

 	 
	 	By:  	/s/ Hamlet T. Newsom, Jr.
 	 
	 	 	Name:  	Hamlet T. Newsom, Jr. 	 
	 	 	Title:  	Assistant Secretary 	 
	 
	 	LAW DEBENTURE TRUST COMPANY OF NEW YORK, as Trustee

 	 
	 	By:  	/s/ James D. Heaney
 	 
	 	 	Name:  	James D. Heaney 	 
	 	 	Title:  	Vice President 	 
	 

[Supplemental Indenture of CC Finco Holdings, LLC]exv10w25

Exhibit 10.25

EXECUTION COPY

CLEAR CHANNEL COMMUNICATIONS, INC.

REGISTRATION RIGHTS AGREEMENT

$980,000,000 Senior Cash Pay Notes due 2016

$1,330,000,000 Senior Toggle Notes due 2016

July 30, 2008

DEUTSCHE BANK SECURITIES INC.

MORGAN STANLEY & CO. INCORPORATED

CITIGROUP GLOBAL MARKETS INC.

CREDIT SUISSE SECURITIES (USA) LLC

GREENWICH CAPITAL MARKETS, INC.

WACHOVIA CAPITAL MARKETS, LLC

c/o Deutsche Bank Securities Inc.

60 Wall Street

New York, New York 10005

Ladies and Gentlemen:

          BT Triple Crown Merger Co., Inc., a Delaware corporation (“ Merger Sub ”), has sold to
certain purchasers (the “ Initial Purchasers ”), for whom you (the “
Representatives ”) are acting as representatives, its 10.75% Senior Cash Pay Notes due 2016
in the principal amount of $980,000,000 (the “ Senior Cash Pay Notes ”) and its
11.00%/11.75% Senior Toggle Notes due 2016 in the principal amount of $1,330,000,000 (the “
Senior Toggle Notes ” and together with the Senior Cash Pay Notes, the “ Senior
Notes ”), upon the terms set forth in the Purchase Agreement among Merger Sub and the
Representatives dated May 13, 2008 (the “ Purchase Agreement ”) relating to the initial
placement of the Senior Notes and related guarantees (as described below) (the “ Initial
Placement ”). The Senior Notes were issued by Merger Sub prior to the consummation of the
Merger and pursuant to an indenture, dated as of the date hereof (the “ Indenture ”), among
Merger Sub, Law Debenture Trust Company of New York, as trustee (the “ Trustee ”), Deutsche
Bank Trust Company Americas, as paying agent, registrar and transfer agent, and, immediately
following the consummation of the Merger, Clear Channel Communications, Inc., a Texas corporation
(the “ Company ”), as supplemented by a Supplemental Indenture, dated as of the date hereof
(the “ Supplemental Indenture ”), among the Guarantors (as defined below) and the Trustee.
Following the consummation of the Merger of Merger Sub with and into the Company, the Company
succeeded to and assumed the obligations of Merger Sub under the Indenture. The Issuers (as defined
below) agree with you for your benefit and the benefit of the holders from time to time of the
Securities (as defined below) (including the Initial Purchasers) (each a “ Holder ” and,
collectively, the “ Holders ”), as follows:

          The Senior Notes will be unconditionally guaranteed by the guarantors listed in Annex
A hereto (the “ Guarantors ” and, together with the Company, the “ Issuers ”)
on an unsecured

 

 

basis and will be subordinated only to the Guarantors’ guarantees of the Senior Secured Credit
Facilities (as defined in the Purchase Agreement) and as further described in the Offering
Memorandum (as defined below). The Senior Cash Pay Notes, together with the related guarantees (the
“ Senior Cash Pay Guarantees ”), to be resold by the Initial Purchasers to certain
purchasers, are referred to herein as the “ Senior Cash Pay Securities.” The Senior Toggle
Notes, together with the related guarantees (the “ Senior Toggle Guarantees ”), to be
resold by the Initial Purchasers to certain purchasers, are referred to herein as the “ Senior
Toggle Securities ” and, together with the Senior Cash Pay Securities, the “ Securities.”

          1. Definitions. Capitalized terms used herein without definition shall have their
respective meanings set forth in the Purchase Agreement. As used in this Agreement, the following
capitalized defined terms shall have the following meanings:

          “ Additional Interest ” shall have the meaning set forth in Section 8 hereof.

          “ Affiliate ” shall have the meaning specified in Rule 405 under the Securities Act
and the terms “controlling” and “controlled” shall have meanings correlative thereto.

          “ Agreement ” shall mean this Registration Rights Agreement.

          “ Automatic Shelf Registration Statement ” shall have the meaning set forth in
Section 3(b) hereof.

          “ broker-dealer ” shall mean any broker or dealer registered as such under the
Exchange Act.

          “ Business Day ” shall mean any day other than a Saturday, a Sunday or a legal holiday
or a day on which banking institutions or trust companies are authorized or obligated by law to
close in New York City.

          “ Class ” shall mean all Senior Cash Pay Securities and New Securities issued in
exchange for Senior Cash Pay Securities or all Senior Toggle Securities and New Securities issued
in exchange for Senior Toggle Securities, as appropriate.

          “ Closing Date ” shall mean the date of the first issuance of the Securities
(determined without regard to any reopening of the Indenture that may occur).

          “ Commission ” shall mean the Securities and Exchange Commission.

          “ Company ” shall have the meaning set forth in the preamble hereto.

          “ Conduct Rules ” shall mean the Conduct Rules and the By-Laws of the Financial
Industry Regulatory Authority.

          “ Exchange Act ” shall mean the Securities Exchange Act of 1934, as amended, and the
rules and regulations of the Commission promulgated thereunder.

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          “ Exchange Offer Registration Period ” shall mean the 180-day period following the
consummation of a Registered Exchange Offer, exclusive of any period during which any stop order
shall be in effect suspending the effectiveness of the Exchange Offer Registration Statement
relating to such Registered Exchange Offer.

          “ Exchange Offer Registration Statement ” shall mean a registration statement of the
Issuers on an appropriate form under the Securities Act with respect to a Registered Exchange
Offer, all amendments and supplements to such registration statement, including post-effective
amendments thereto, in each case including the Prospectus contained therein, all exhibits thereto
and all material incorporated by reference therein.

          “ Exchanging Dealer ” shall mean any Holder (which may include any Initial Purchaser)
that is a broker-dealer and elects to exchange for New Securities any Securities that it acquired
for its own account as a result of market-making activities or other trading activities (but not
directly from any Issuer or any Affiliate of any Issuer).

          “ Freely Tradable ” means, with respect to a Security, a Security that at any time of
determination (i) may be sold to the public in accordance with Rule 144 under the Securities Act (“
Rule 144 ”) by a person that is not an “affiliate” (as defined in Rule 144) of the Issuers
where no conditions of Rule 144 are then applicable (other than the holding period requirement in
paragraph (d) of Rule 144, so long as such holding period requirement is satisfied at such time of
determination) and (ii) does not bear any restrictive legends relating to the Securities Act.

          “ Guarantees ” shall have the meaning set forth in the preamble hereto.

          “ Guarantors ” shall have the meaning set forth in the preamble hereto.

          “ Holder ” shall have the meaning set forth in the preamble hereto.

          “ Indenture ” shall have the meaning set forth in the preamble hereto.

          “ Initial Placement ” shall have the meaning set forth in the preamble hereto.

          “ Initial Purchasers ” shall have the meaning set forth in the preamble hereto.

          “ Inspector ” shall have the meaning set forth in Section 4(q)(i) hereof.

          “ Issuers ” shall have the meaning set forth in the preamble hereto.

          “ Losses ” shall have the meaning set forth in Section 6(d) hereof.

          “ Majority Holders ” shall mean, with respect to any Class on any date, Holders of a
majority of the aggregate principal amount of such Class of Securities registered under a
Registration Statement.

          “ Managing Underwriters ” shall mean the investment banker or investment bankers and
manager or managers that administer an underwritten offering, if any, under a Registration
Statement.

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          “ New Securities ” shall mean debt securities of the Company and guarantees by the
Guarantors, in each case identical in all material respects to the Senior Cash Pay Securities or
the Senior Toggle Securities, as applicable (except that the transfer restrictions shall be
modified or eliminated, as appropriate), to be issued under the Indenture in connection with sales
or exchanges effected pursuant to this Agreement.

          “ Offering Memorandum ” shall mean the offering memorandum delivered to the Initial
Purchasers, dated as of July 30, 2008, relating to the offer and sale of the Senior Notes and
related guarantees, including any and all exhibits thereto and any information incorporated by
reference therein as of such date.

          “ Prospectus ” shall mean the prospectus included in any Registration Statement
(including, without limitation, a prospectus that discloses information previously omitted from a
prospectus filed as part of an effective registration statement in reliance upon Rule 430A under
the Securities Act), as amended or supplemented by any prospectus supplement, with respect to the
terms of the offering of any portion of the Securities or the New Securities covered by such
Registration Statement, and all amendments and supplements thereto, including any and all exhibits
thereto and any information incorporated by reference therein.

          “ Purchase Agreement ” shall have the meaning set forth in the preamble hereto.

          “ Registered Exchange Offer ” shall mean the proposed offer of the Issuers to issue
and deliver to the Holders of either Class of Securities that are not prohibited by any law or
policy of the Commission from participating in such offer, in exchange for such Securities, a like
aggregate principal amount of New Securities of such Class.

          “ Registrable Securities ” shall mean the Securities; provided that, with respect to
either Class of Securities, the Securities of such Class shall cease to be Registrable Securities
on the earliest to occur of (i) the date on which a Registration Statement with respect to such
Securities has become effective under the Securities Act and such Securities have been exchanged or
disposed of pursuant to such Registration Statement, (ii) the date on which such Securities cease
to be outstanding or (iii) the date on which such Securities are Freely Tradable.

          “ Registration Default ” shall have the meaning set forth in Section 8 hereof.

          “ Registration Statement ” shall mean any Exchange Offer Registration Statement or
Shelf Registration Statement that covers either Class of Securities or New Securities, as
applicable, pursuant to the provisions of this Agreement, any amendments and supplements to such
registration statement, including post-effective amendments (in each case including the Prospectus
contained therein), all exhibits thereto and all material incorporated by reference therein.

          “ Securities ” shall have the meaning set forth in the preamble hereto.

          “ Securities Act ” shall mean the Securities Act of 1933, as amended, and the rules
and regulations of the Commission promulgated thereunder.

          “ Senior Cash Pay Notes ” shall have the meaning set forth in the preamble hereto.

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          “ Senior Cash Pay Securities ” shall have the meaning set forth in the preamble
hereto.

          “ Senior Notes ” shall have the meaning set forth in the preamble hereto.

          “ Senior Secured Credit Facilities ” shall have the meaning set forth in the preamble
hereto.

          “ Senior Toggle Notes ” shall have the meaning set forth in the preamble hereto.

          “ Senior Toggle Securities ” shall have the meaning set forth in the preamble hereto.

          “ Shelf Registration ” shall mean a registration effected pursuant to Section 3
hereof.

          “ Shelf Registration Period ” shall have the meaning set forth in Section 3(c) hereof.

          “ Shelf Registration Statement ” shall mean a “shelf” registration statement of the
Company pursuant to the provisions of Section 3 hereof which covers some or all of either Class of
the Securities or New Securities, as applicable, on an appropriate form under Rule 415 under the
Securities Act, or any similar rule that may be adopted by the Commission, amendments and
supplements to such registration statement, including post-effective amendments, in each case
including the Prospectus contained therein, all exhibits thereto and all material incorporated by
reference therein.

          “ Trustee ” shall have the meaning set forth in the preamble hereto.

          “ Trust Indenture Act ” shall mean the Trust Indenture Act of 1939, as amended, and
the rules and regulations of the Commission promulgated thereunder.

          “ Underwriter ” shall mean any underwriter of Securities in connection with an
offering thereof under a Shelf Registration Statement.

          2. Registered Exchange Offer.

          (a) The Issuers shall use their commercially reasonable efforts to prepare and file with the
Commission the Exchange Offer Registration Statements with respect to each Registered Exchange
Offer. The Issuers shall use their commercially reasonable efforts to cause the Exchange Offer
Registration Statements to become effective under the Securities Act within 300 days of the Closing
Date.

          (b) Upon the effectiveness of the applicable Exchange Offer Registration Statement, the
Issuers shall promptly commence the Registered Exchange Offer, with respect to the Class of
Securities registered pursuant to such Exchange Offer Registration Statement, it being the
objective of such Registered Exchange Offer to enable each Holder electing to exchange Securities
of such Class for New Securities of that Class (assuming that such Holder is not an

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Affiliate of any Issuer, acquires the New Securities in the ordinary course of such Holder’s
business, has no arrangements with any person to participate in the distribution of the New
Securities and is not prohibited by any law or policy of the Commission from participating in the
Registered Exchange Offer) to trade such New Securities from and after their receipt without any
limitations or restrictions under the Securities Act and without material restrictions under the
securities laws of a substantial proportion of the several states of the United States.

          (c) In connection with a Registered Exchange Offer of a Class of Securities, the Issuers
shall:

     (i) mail to each Holder of such Class a copy of the Prospectus forming part of the
Exchange Offer Registration Statement, together with an appropriate letter of transmittal
and related documents;

     (ii) keep the Registered Exchange Offer open for not less than 20 Business Days after
the date notice thereof is mailed to such Holders (or, in each case, longer if required by
applicable law);

     (iii) use their commercially reasonable efforts to keep the Exchange Offer Registration
Statement continuously effective under the Securities Act, supplemented and amended as
required, under the Securities Act to ensure that it is available for sales of New
Securities of such Class by Exchanging Dealers during the applicable Exchange Offer
Registration Period;

     (iv) utilize the services of a depositary for the Registered Exchange Offer with an
address in the Borough of Manhattan in New York City, which may be the Trustee or an
Affiliate of the Trustee;

     (v) permit such Holders to withdraw tendered Securities of such Class at any time prior
to the close of business, New York time, on the last Business Day on which the Registered
Exchange Offer is open;

     (vi) prior to effectiveness of the related Exchange Offer Registration Statement,
provide a supplemental letter to the Commission (A) stating that the Issuers are conducting
such Registered Exchange Offer in reliance on the position of the Commission in Exxon
Capital Holdings Corporation (pub. avail. May 13, 1988), and Morgan Stanley and Co.,
Inc. (pub. avail. June 5, 1991); and (B) including a representation that the Issuers
have not entered into any arrangement or understanding with any person to distribute the New
Securities to be received in such Registered Exchange Offer and that, to the best of the
Issuers’ information and belief, each Holder participating in such Registered Exchange Offer
is acquiring the New Securities in the ordinary course of business and has no arrangement or
understanding with any person to participate in the distribution of the New Securities; and

     (vii) comply in all material respects with all applicable laws.

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          (d) As soon as practicable after the close of a Registered Exchange Offer of a Class of
Securities, the Issuers shall:

     (i) accept for exchange all Securities of such Class tendered and not validly withdrawn
pursuant to the Registered Exchange Offer;

     (ii) deliver to the Trustee for cancellation in accordance with Section 4(s) all
Securities so accepted for exchange; and

     (iii) cause the Trustee promptly to authenticate and deliver to each Holder of
Securities a principal amount of New Securities of such Class equal to the principal amount
of the Securities of such Class of such Holder so accepted for exchange.

          (e) Each Holder hereby acknowledges and agrees that any broker-dealer and any such Holder
using a Registered Exchange Offer to participate in a distribution of New Securities (x) could not
under Commission policy as in effect on the date of this Agreement rely on the position of the
Commission in Exxon Capital Holdings Corporation (pub. avail. May 13, 1988) and Morgan
Stanley and Co., Inc. (pub. avail. June 5, 1991), as interpreted in the Commission’s letter to
Shearman & Sterling dated July 2, 1993 and similar no-action letters; and (y) must comply with the
registration and prospectus delivery requirements of the Securities Act in connection with any
secondary resale transaction, which must be covered by an effective registration statement
containing the selling security holder information required by Item 507 or 508, as applicable, of
Regulation S-K under the Securities Act if the resales are of New Securities obtained by such
Holder in exchange for Securities acquired by such Holder directly from the Issuers or their
Affiliates. Accordingly, each Holder participating in a Registered Exchange Offer shall be required
to represent to the Issuers that, at the time of the consummation of such Registered Exchange
Offer:

     (i) any New Securities to be received by such Holder will be acquired in the ordinary
course of business;

     (ii) such Holder will have no arrangement or understanding with any person to
participate in the distribution (within the meaning of the Securities Act) of the applicable
Securities or the applicable New Securities;

     (iii) such Holder is not an Affiliate of any of the Issuers;

     (iv) if such Holder is not a broker-dealer, that it is not engaged in, and does not
intend to engage in, the distribution of the applicable New Securities; and

     (v) if such Holder is a broker-dealer that will receive New Securities for its own
account in exchange for any Securities that were acquired as a result of market-making or
other trading activities, that it will deliver a prospectus in connection with any resale of
such New Securities.

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          (f) If any Initial Purchaser determines that it is not eligible to participate in a Registered
Exchange Offer with respect to the exchange of Securities of either Class constituting any portion
of an unsold allotment, at the request of such Initial Purchaser, the Issuers shall issue and
deliver to such Initial Purchaser or the person purchasing New Securities of such Class registered
under a Shelf Registration Statement as contemplated by Section 3 hereof from such Initial
Purchaser, in exchange for such Securities, a like principal amount of New Securities. The Issuers
shall use their commercially reasonable efforts to cause the CUSIP Service Bureau to issue the same
CUSIP number for such New Securities as for New Securities of such Class issued pursuant to a
Registered Exchange Offer.

          (g) Interest on each New Security issued pursuant to a Registered Exchange Offer will accrue
(i) from the later of (A) the last interest payment date on which interest was paid on the
Securities surrendered in exchange therefor and (B) if the Securities are surrendered for exchange
on a date in a period that includes the record date for an interest payment date to occur on or
after the date of such exchange and as to which interest will be paid, the date of such interest
payment date, or (ii) if no interest has been paid on the Securities, from the Closing Date.

          (h) The obligations of the Issuers under a Registered Exchange Offer shall be subject to the
conditions that (i) such Registered Exchange Offer does not violate applicable law or any
applicable interpretation of the staff of the Commission; (ii) no action or proceeding shall have
been instituted in any court or by any governmental agency which might materially impair the
ability of the Issuers to proceed with such Registered Exchange Offer, and no material adverse
development shall have occurred in any existing action or proceeding with respect to the Issuers
and (iii) all governmental approvals required for the consummation of such Registered Exchange
Offer by the Issuers shall have been obtained. Notwithstanding anything to the contrary set forth
above in this Section 2, the requirements to commence and complete a Registered Exchange Offer
shall terminate at such time as all of the Securities are Freely Tradable.

          3. Shelf Registration.

          (a) If an Exchange Offer Registration Statement with respect to either Class of Securities is
required to be filed and declared effective pursuant to Section 2(a) above, and (i) due to any
change in law or currently prevailing interpretations thereof by the Commission’s staff, the
Issuers determine upon advice of their outside counsel that they are not permitted to effect a
Registered Exchange Offer with respect to such Class of Securities as contemplated by Section 2
hereof; (ii) for any other reason a Registered Exchange Offer with respect to such Class of
Securities is not consummated within 300 days of the date hereof; (iii) any Initial Purchaser so
requests with respect to Securities of either Class that are not eligible to be exchanged for New
Securities of such Class in the applicable Registered Exchange Offer and that are held by it
following consummation of such Registered Exchange Offer; or (iv) in the case of any Initial
Purchaser that participates in a Registered Exchange Offer or acquires New Securities pursuant to
Section 2(f) hereof, which Initial Purchaser does not receive Freely Tradable New Securities in
exchange for Securities constituting any portion of an unsold allotment (it being understood that
(x) the requirement that an Initial Purchaser must deliver a Prospectus containing the information
required by Item 507 or 508 of Regulation S-K under the Securities Act in connection with sales of
New Securities acquired in exchange for such Securities shall result in such

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New Securities being not Freely Tradable; and (y) the requirement that an Exchanging Dealer must
deliver a Prospectus in connection with sales of New Securities acquired in a Registered Exchange
Offer in exchange for Securities acquired as a result of market-making activities or other trading
activities shall not result in such New Securities being not Freely Tradable), the Issuers shall
effect a Shelf Registration Statement with respect to such Class in accordance with subsection
(b) below.

          (b) If a Shelf Registration Statement with respect to any Class of Securities is required to
be filed and declared effective pursuant to this Section 3, the Issuers shall as promptly as
practicable (but in no event more than 45 days after so required or requested pursuant to this
Section 3), file with the Commission and shall use their commercially reasonable efforts to cause
to be declared effective under the Securities Act within 300 days after so required or requested, a
Shelf Registration Statement relating to the offer and sale of the applicable Class of Securities
or the New Securities, as applicable (which may be an “automatic shelf registration statement” as
defined in Rule 405 of the Securities Act (an “ Automatic Shelf Registration Statement ”),
if the filing satisfies all relevant requirements for qualification as an Automatic Shelf
Registration Statement), by the Holders thereof from time to time in accordance with the methods of
distribution elected by such Holders and set forth in such Shelf Registration Statement;
provided , however , that no Holder (other than an Initial Purchaser) shall be
entitled to have the Securities or New Securities, as applicable, held by it covered by such Shelf
Registration Statement unless such Holder agrees in writing to be bound by all of the provisions of
this Agreement applicable to such Holder; and provided , further , that with
respect to New Securities received by an Initial Purchaser in exchange for Securities constituting
any portion of an unsold allotment, the Issuers may, if permitted by current interpretations by the
Commission’s staff, file a post-effective amendment to the applicable Exchange Offer Registration
Statement containing the information required by Item 507 or 508 of Regulation S-K, as applicable,
in satisfaction of its obligations under this subsection with respect thereto, and any such
Exchange Offer Registration Statement, as so amended, shall be referred to herein as, and governed
by the provisions herein applicable to, a Shelf Registration Statement.

          (c) Subject to Section 4(k), the Issuers shall use their commercially reasonable efforts to
keep such Shelf Registration Statement continuously effective, supplemented and amended as required
by the Securities Act, until the earliest of (A) the first anniversary of the Closing Date; (B) the
date upon which all the Securities or New Securities, as applicable, covered by such Shelf
Registration Statement have been sold pursuant to such Shelf Registration Statement; or (C) the
date upon which all the Securities or New Securities, as applicable, of such Class, covered by such
Shelf Registration Statement become Freely Tradable (the “ Shelf Registration Period ”).
The Issuers shall be deemed not to have used their commercially reasonable efforts to keep a Shelf
Registration Statement effective during the applicable Shelf Registration Period if they
voluntarily take any action that would result in Holders of Securities or New Securities, as
applicable, covered thereby not being able to offer and sell such Securities or New Securities, as
applicable, at any time during the Shelf Registration Period, unless such action is (x) required by
applicable law or otherwise undertaken by the Issuers in good faith and for valid business reasons
(not including avoidance of the Issuers’ obligations hereunder), including the acquisition or
divestiture of assets or a financing, and (y) permitted pursuant to Section 4(k)(ii) hereof.
Notwithstanding anything to the contrary set forth in this Section 3, the requirements to

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file a Shelf Registration Statement providing for the sale of all Registrable Securities of a
particular Class and to have such Shelf Registration Statement become effective and remain
effective shall terminate at such time as all of the Securities of such Class are Freely Tradable.

          (d) The Issuers shall cause each 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, (A) to comply in all material respects with the applicable
requirements of the Securities Act; and (B) not to contain any untrue statement of a material fact
or omit to state a material fact required to be stated therein or 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.

          4. Additional Registration Procedures. In connection with any Shelf Registration
Statement with respect to any Class of Securities and, to the extent applicable, any Exchange Offer
Registration Statement, the following provisions shall apply.

          (a) The Issuers shall:

     (i) furnish, in each case if requested in writing, to each of the Representatives, in
the case of an Exchange Offer Registration Statement, and to counsel for the Holders of
Registrable Securities of the applicable Class in the case of a Shelf Registration
Statement, not less than five Business Days prior to the filing thereof with the Commission,
a copy of any Exchange Offer Registration Statement, as applicable, and any Shelf
Registration Statement, and each amendment thereof and each amendment or supplement, if any,
to the Prospectus included therein and shall use their commercially reasonable efforts to
reflect in each such document, when so filed with the Commission, such comments as the
Representatives reasonably propose;

     (ii) include the information set forth in Annex B hereto on the facing page of
the Exchange Offer Registration Statement, in Annex C hereto in the forepart of the
Exchange Offer Registration Statement in a section setting forth details of the Registered
Exchange Offer, in Annex D hereto in the underwriting or plan of distribution
section of the Prospectus contained in the Exchange Offer Registration Statement, and in
Annex E hereto in the letter of transmittal delivered pursuant to the Registered
Exchange Offer;

     (iii) if requested by an Initial Purchaser, include the information required by
Item 507 or 508 of Regulation S-K, as applicable, in the Prospectus contained in the
Exchange Offer Registration Statement; and

     (iv) in the case of a Shelf Registration Statement, include the names of the Holders
that propose to sell Securities pursuant to the Shelf Registration Statement as selling
security holders.

          (b) The Issuers shall ensure that:

     (i) any Registration Statement and any amendment thereto and any Prospectus forming
part thereof and any amendment or supplement thereto complies in all material respects with
the Securities Act; and

-10-

 

     (ii) any Registration Statement and any amendment thereto does not, when it becomes
effective, contain 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, it
being understood that, with respect to the information about Holders in any Shelf
Registration Statement, the Issuers will be relying solely on responses provided by Holders
to a notice and questionnaire.

          (c) The Issuers shall advise the Representatives and, to the extent the Issuers have been
provided in writing a telephone or facsimile number and address for notices, the Holders of
Securities of the applicable Class covered by any Shelf Registration Statement and any Exchanging
Dealer of the applicable Class under any Exchange Offer Registration Statement, and, if requested
by any Representative or any such Holder or Exchanging Dealer, shall confirm such advice in writing
(which notice pursuant to clauses (ii) through (v) hereof shall be accompanied by an instruction to
suspend the use of the Prospectus until the Issuers shall have remedied the basis for such
suspension):

     (i) when a Registration Statement and any amendment thereto has been filed with the
Commission and when the Registration Statement or any post-effective amendment thereto has
become effective;

     (ii) of any request by the Commission for any amendment or supplement to the
Registration Statement or the Prospectus or for additional information;

     (iii) of the issuance by the Commission of any stop order suspending the effectiveness
of the Registration Statement or the institution or threatening of any proceeding for that
purpose;

     (iv) of the receipt by the Issuers of any notification with respect to the suspension
of the qualification of the securities included therein for sale in any jurisdiction or the
institution or threatening of any proceeding for such purpose; and

     (v) unless notice has been provided pursuant to Section 4(k)(ii), of the happening of
any event that requires any change in the Registration Statement or the Prospectus so that,
as of such date, such Registration Statement and Prospectus (A) do not contain any untrue
statement of a material fact and (B) do not omit to state a material fact required to be
stated therein or necessary to make the statements therein (in the case of the Prospectus,
in the light of the circumstances under which they were made) not misleading.

          (d) The Issuers shall use their commercially reasonable efforts to obtain as soon as possible
the withdrawal of any order suspending the effectiveness of any Registration Statement or the
qualification of the securities therein for sale in any jurisdiction.

-11-

 

          (e) The Issuers shall furnish, upon written request, to each Holder of Securities covered by
any Shelf Registration Statement, without charge, at least one copy of such Shelf Registration
Statement and any post-effective amendment thereto, including all material incorporated therein by
reference, and, if the Holder so requests in writing, all exhibits thereto (including exhibits
incorporated by reference therein).

          (f) The Issuers shall, during the Shelf Registration Period, deliver to each Holder of
Securities covered by any such Shelf Registration Statement, without charge, as many copies of the
Prospectus (including the preliminary Prospectus) included in such Shelf Registration Statement and
any amendment or supplement thereto as such Holder may reasonably request. The Issuers consent to
the use of the Prospectus or any amendment or supplement thereto by each of the selling Holders of
Securities in connection with the offering and sale of the Securities covered by the Prospectus, or
any amendment or supplement thereto, included in such Shelf Registration Statement.

          (g) The Issuers shall furnish to each Exchanging Dealer which so requests, without charge, at
least one copy of the applicable Exchange Offer Registration Statement and any post-effective
amendment thereto, including all material incorporated by reference therein, and, if the Exchanging
Dealer so requests in writing, all exhibits thereto (including exhibits incorporated by reference
therein).

          (h) The Issuers shall promptly deliver to each Initial Purchaser, each Exchanging Dealer and
each other person required to deliver a Prospectus during the applicable Exchange Offer
Registration Period, without charge, as many copies of the Prospectus included in the applicable
Exchange Offer Registration Statement and any amendment or supplement thereto as any such person
may reasonably request. The Issuers consent to the use of such Prospectus or any amendment or
supplement thereto by any Initial Purchaser, any Exchanging Dealer and any such other person that
may be required to deliver a Prospectus following the applicable Registered Exchange Offer in
connection with the offering and sale of the New Securities of the Class covered by the Prospectus,
or any amendment or supplement thereto, included in such Exchange Offer Registration Statement.

          (i) Prior to any such Registered Exchange Offer or any other offering of Securities pursuant
to any Registration Statement, the Issuers shall arrange, if necessary, for the qualification of
the Securities or the New Securities for sale under the laws of such jurisdictions as any Holder
shall reasonably request and shall maintain such qualification in effect so long as required;
provided that no Issuer will 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 in any such jurisdiction or to taxation in any such jurisdiction where
it is not then so subject.

          (j) The Issuers shall cooperate with the Holders of Securities of the applicable Class to
facilitate the timely preparation and delivery of certificates representing New Securities or
Securities to be issued or sold pursuant to any Registration Statement free of any restrictive
legends and in such denominations and registered in such names as Holders may request.

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          (k) (i) Subject to clause (ii) below, upon the occurrence of any event contemplated by
subsections (c)(ii) through (v) above, the Issuers shall promptly (or within the time period
provided for by clause (ii) hereof, if applicable) prepare a post-effective amendment to the
applicable Registration Statement or an amendment or supplement to the related Prospectus or file
any other required document so that, as thereafter delivered to the Initial Purchasers of the
Securities included therein, the Prospectus will not include an 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.
In such circumstances, the period of effectiveness of any Exchange Offer Registration Statement
provided for in Section 2 shall be extended by the number of days from and including the date of
the giving of a notice of suspension pursuant to Section 4(c) to and including the date when the
Initial Purchasers, the Holders of the Securities and any known Exchanging Dealer shall have
received such amended or supplemented Prospectus pursuant to this Section.

               (ii) Upon the occurrence or existence of any pending corporate development or any other
material event that, in the reasonable judgment of the Issuers, makes it appropriate to suspend the
availability of a Shelf Registration Statement and the related Prospectus, the Issuers shall give
notice (without notice of the nature or details of such events) to the Holders of the Registrable
Securities or New Securities, as applicable, of the Class covered by such Shelf Registration
Statement that the availability of the Shelf Registration is suspended and, upon actual receipt of
any such notice, each Holder agrees not to sell any Registrable Securities or New Securities, as
applicable, pursuant to the Shelf Registration until such Holder’s receipt of copies of the
supplemented or amended Prospectus provided for in clause (i) hereof, or until it is advised in
writing by the Issuers 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 period during which the availability of the Shelf Registration and any Prospectus
is suspended shall not exceed 45 days in any three-month period or 90 days in any twelve-month
period.

          (l) Not later than the effective date of any Registration Statement, the Issuers shall provide
a CUSIP number for the Securities or the New Securities, as the case may be, registered under such
Registration Statement and provide, as may be necessary, the Trustee with printed certificates for
such Securities or New Securities, as applicable, in a form eligible for deposit with The
Depository Trust Company.

          (m) The Issuers shall comply with all applicable rules and regulations of the Commission and
shall make generally available to its security holders an earnings statement satisfying the
provisions of Section 11(a) of the Securities Act and Rule 158 thereunder as soon as practicable
after the effective date of the applicable Registration Statement and in any event no later than 45
days after the end of a 12-month period (or 90 days, if such period is a fiscal year) beginning
with the first month of the Issuers’ first fiscal quarter commencing after the effective date of
the applicable Registration Statement.

          (n) The Issuers shall cause the Indenture to be qualified under the Trust Indenture Act in a
timely manner.

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          (o) The Issuers may require each Holder of Securities to be sold pursuant to any Shelf
Registration Statement to furnish to the Issuers such information regarding the Holder and the
distribution of such Securities as the Issuers may from time to time reasonably require for
inclusion in such Registration Statement. The Issuers may exclude from such Shelf Registration
Statement the Securities of any Holder that unreasonably fails to furnish such information within a
reasonable time after receiving such request.

          (p) In the case of any Shelf Registration Statement, the Issuers shall enter into customary
agreements (including, if requested, an underwriting agreement in customary form) and take all
other appropriate actions in order to expedite or facilitate the registration or the disposition of
the Securities, and in connection therewith, if an underwriting agreement is entered into, cause
the same to contain indemnification provisions and procedures no less favorable than those set
forth in Section 6 hereof (or such other provisions and procedures acceptable to the Majority
Holders of such Class being registered and the Managing Underwriters, if any, with respect to all
parties to be indemnified pursuant to Section 6).

          (q) In the case of any Shelf Registration Statement, the Issuers shall:

     (i) make reasonably available for inspection by a representative of the Holders of
Securities of such Class to be registered thereunder (an “ Inspector ”), any
underwriter participating in any disposition pursuant to such Registration Statement, one
firm of accountants designated by the Majority Holders of Securities of such Class to be
registered thereunder and one attorney and one firm of accountants designated by such
underwriter or underwriters, at reasonable times and in a reasonable manner, all relevant
financial and other records and pertinent corporate documents of the Issuers and their
subsidiaries;

     (ii) cause each Issuers’ officers, directors, employees, accountants and auditors to
supply all relevant information reasonably requested by the Inspector or any such
underwriter, attorney or accountant in connection with any such Registration Statement as is
customary for similar due diligence examinations; provided , however , that
any information that is designated in writing by the Issuers, in good faith, as confidential
at the time of delivery of such information shall be kept confidential by such Inspector,
underwriter or underwriters or any such attorney or accountant, unless such disclosure is
made in connection with a court proceeding or required by law, or such information becomes
available to the public generally or through a third party without an accompanying
obligation of confidentiality;

     (iii) make such representations and warranties to the Holders of Securities registered
thereunder and the underwriters, if any, in form, substance and scope as are customarily
made by issuers to underwriters in primary underwritten offerings and covering matters
including, but not limited to, those set forth in the Purchase Agreement;

     (iv) obtain opinions of counsel to the Issuers and updates thereof (which counsel and
opinions (in form, scope and substance) shall be reasonably

-14-

 

satisfactory to the Managing Underwriters, if any) addressed to each selling Holder and the
underwriters, if any, covering such matters as are customarily covered in opinions requested
in underwritten offerings and such other matters as may be reasonably requested by such
Holders and underwriters;

     (v) obtain “comfort” letters and updates thereof from the independent certified public
accountants of the Issuers (and, if necessary, any other independent certified public
accountants of any subsidiary of the Issuers or of any business acquired by the Issuers for
which financial statements and financial data are, or are required to be, included in the
Registration Statement), addressed to each selling Holder of Securities registered
thereunder and the underwriters, if any, in customary form and covering matters of the type
customarily covered in “comfort” letters in connection with primary underwritten offerings;
and

     (vi) deliver such documents and certificates as may be reasonably requested by the
Majority Holders of the Class registered or the Managing Underwriters, if any, including
those to evidence compliance with Section 4(k) and with any customary conditions contained
in the underwriting agreement or other agreement entered into by the Issuers.

The actions set forth in clauses (iii), (iv), (v) and (vi) of this paragraph (q) shall be performed
at (A) the effectiveness of such Registration Statement and each post-effective amendment thereto;
and (B) each closing under any underwriting or similar agreement as and to the extent required
thereunder.

          (r) In the case of any Exchange Offer Registration Statement, the Issuers shall, if requested
by an Initial Purchaser, or by a broker-dealer that holds Securities of the applicable Class that
were acquired as a result of market-making or other trading activities:

     (i) make reasonably available for inspection by the requesting party, one attorney and
one firm of accountants designated by the requesting party, at reasonable times and in a
reasonable manner, all relevant financial and other records, pertinent corporate documents
and properties of the Issuers and their subsidiaries;

     (ii) cause each Issuers’ officers, directors, employees, accountants and auditors to
supply all relevant information reasonably requested by the requesting party or any such
attorney or accountant in connection with any such Registration Statement as is customary
for similar due diligence examinations; provided , however , that any
information that is designated in writing by the Issuers, in good faith, as confidential at
the time of delivery of such information shall be kept confidential by such Initial
Purchaser or any such attorney or accountant, unless such disclosure is made in connection
with a court proceeding or required by law, or such information becomes available to the
public generally or through a third party without an accompanying obligation of
confidentiality;

-15-

 

     (iii) make such representations and warranties to the requesting party, in form,
substance and scope as are customarily made by issuers to underwriters in primary
underwritten offerings and covering matters including, but not limited to, those set forth
in the Purchase Agreement;

     (iv) obtain opinions of counsel to the Issuers and updates thereof (which counsel and
opinions (in form, scope and substance) shall be reasonably satisfactory to the requesting
party and its counsel), addressed to the requesting party, covering such matters as are
customarily covered in opinions requested in underwritten offerings and such other matters
as may be reasonably requested by the requesting party or its counsel;

     (v) obtain “comfort” letters and updates thereof from the independent certified public
accountants of the Issuers (and, if necessary, any other independent certified public
accountants of any subsidiary of the Issuers or of any business acquired by the Issuers for
which financial statements and financial data are, or are required to be, included in the
Registration Statement), addressed to the requesting party, in customary form and covering
matters of the type customarily covered in “comfort” letters in connection with primary
underwritten offerings, or if requested by the requesting party or its counsel in lieu of a
“comfort” letter, an agreed-upon procedures letter under Statement on Auditing Standards
No. 35, covering matters requested by the requesting party or its counsel; and

     (vi) deliver such documents and certificates as may be reasonably requested by the
requesting party or its counsel, including those to evidence compliance with Section 4(k)
and with conditions customarily contained in underwriting agreements.

The foregoing actions set forth in clauses (iii), (iv), (v), and (vi) of this Section shall be
performed at the close of the Registered Exchange Offer and the effective date of any
post-effective amendment to the Exchange Offer Registration Statement.

          (s) If a Registered Exchange Offer is to be consummated, upon delivery of the Securities of
the Class being registered by Holders to the Issuers (or to such other person as directed by the
Issuers) in exchange for the New Securities of such Class, the Issuers shall mark, or caused to be
marked, on the Securities so exchanged that such Securities are being cancelled in exchange for the
New Securities. In no event shall the Securities be marked as paid or otherwise satisfied.

          (t) The Issuers shall use their commercially reasonable efforts if the Securities of the Class
being registered have been rated prior to the initial sale of such Securities, to confirm such
ratings will apply to the Securities or the New Securities, as the case may be, covered by a
Registration Statement.

          (u) In the event that any broker-dealer shall underwrite any Securities or participate as a
member of an underwriting syndicate or selling group or “assist in the distribution” (within the
meaning of the Conduct Rules) thereof, whether as a Holder of such Securities or as an underwriter,
a placement or sales agent or a broker or dealer in respect thereof, or otherwise, the Issuers
shall assist such broker-dealer in complying with the Conduct Rules.

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          (v) The Issuers shall use their commercially reasonable efforts to take all other steps
necessary to effect the registration of either Class of Securities or New Securities, as the case
may be, covered by a Registration Statement.

          5. Registration Expenses. The Issuers shall bear all expenses incurred in connection
with the performance of their obligations under Sections 2, 3 and 4 hereof and, in the event of any
Shelf Registration Statement, will reimburse the Holders for the reasonable fees and disbursements
of one firm or counsel (which shall initially be Cahill Gordon & Reindel LLP , but which
may be another nationally recognized law firm experienced in securities matters designated by the
Majority Holders of the Class being registered) to act as counsel for the Holders in connection
therewith, and, in the case of any Exchange Offer Registration Statement, will reimburse the
Initial Purchasers for the reasonable fees and disbursements of such counsel acting in connection
therewith. Notwithstanding the foregoing, the Holders shall pay all agency fees and commissions and
underwriting discounts and commissions and the fees and disbursements of any counsel or other
advisors or experts retained by such Holders (severally or jointly), other than the one counsel
specifically referred to above.

          6. Indemnification and Contribution.

          (a) The Issuers agree, jointly and severally, to indemnify and hold harmless each Holder of
Securities or New Securities, as the case may be, covered by any Registration Statement, each
Initial Purchaser and, with respect to any Prospectus delivery as contemplated in Section 4(h)
hereof, each Exchanging Dealer, the directors, officers, employees, Affiliates and agents of each
such Holder, Initial Purchaser or Exchanging Dealer and each person who controls any such Holder,
Initial Purchaser or Exchanging Dealer within the meaning of either the Securities Act or the
Exchange Act against any and all losses, claims, damages or liabilities, joint or several, to which
they or any of them may become subject under the Securities Act, the Exchange Act or other federal
or state statutory law or regulation, at common law or otherwise, insofar as such losses, claims,
damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue
statement or alleged untrue statement of a material fact contained in a Registration Statement as
originally filed or in any amendment thereof, or in any preliminary Prospectus or the Prospectus,
or in any amendment thereof or supplement thereto, or arise out of or are based upon the omission
or alleged omission to state therein a material fact required to be stated therein or necessary to
make the statements therein (in the case of any preliminary Prospectus or the Prospectus, in the
light of the circumstances under which they were made) not misleading, and agrees to reimburse each
such indemnified party, as incurred, for any legal or other expenses reasonably incurred by it in
connection with investigating or defending any such loss, claim, damage, liability or action;
provided , however , that no Issuer will be liable in any such case to the extent
that any such loss, claim, damage or liability arises out of or is based upon any such untrue
statement or alleged untrue statement or omission or alleged omission made therein in reliance upon
and in conformity with written information furnished to the Issuers by or on behalf of any Initial
Purchaser or any Holder specifically for inclusion therein. This indemnity agreement shall be in
addition to any liability that the Issuers may otherwise have.

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          Each Issuer also jointly and severally agrees to indemnify as provided in this Section 6(a) or
contribute as provided in Section 6(d) hereof to Losses of each underwriter, if any, of Securities
or New Securities, as the case may be, registered under a Shelf Registration Statement, their
directors, officers, employees, Affiliates or agents and each person who controls such underwriter
on substantially the same basis as that of the indemnification of the Initial Purchasers and the
selling Holders provided in this Section 6(a) and shall, if requested by any Holder, enter into an
underwriting agreement reflecting such agreement, as provided in Section 4(p) hereof.

          (b) Each Holder of Securities covered by a Registration Statement (including each Initial
Purchaser that is a Holder, in such capacity) severally and not jointly agrees to indemnify and
hold harmless the Issuers, each of their respective directors, each of their respective officers
who signs such Registration Statement and each person who controls the Issuers within the meaning
of either the Securities Act or the Exchange Act, to the same extent as the foregoing indemnity
from the Issuers to each such Holder, but only with reference to written information relating to
such Holder furnished to the Issuers by or on behalf of such Holder specifically for inclusion in
the documents referred to in the foregoing indemnity. This indemnity agreement will be in addition
to any liability that any such Holder may otherwise have.

          (c) Promptly after receipt by an indemnified party under this Section 6 or notice of the
commencement of any action, such indemnified party will, if a claim in respect thereof is to be
made against the indemnifying party under this Section, notify the indemnifying party in writing of
the commencement thereof; but the failure so to notify the indemnifying party (i) will not relieve
it from liability under paragraph (a) or (b) above unless and to the extent it did not otherwise
learn of such action and such failure results in the forfeiture by the indemnifying party of
substantial rights and defenses; and (ii) will not, in any event, relieve the indemnifying party
from any obligations to any indemnified party other than the indemnification obligation provided in
paragraph (a) or (b) above. The indemnifying party shall be entitled to appoint counsel (including
local counsel) of the indemnifying party’s choice at the indemnifying party’s expense to represent
the indemnified party in any action for which indemnification is sought (in which case the
indemnifying party shall not thereafter be responsible for the fees and expenses of any separate
counsel, other than local counsel if not appointed by the indemnifying party, retained by the
indemnified party or parties except as set forth below); provided , however , that
such counsel shall be reasonably satisfactory to the indemnified party. Notwithstanding the
indemnifying party’s election to appoint counsel (including local counsel) to represent the
indemnified party in an action, the indemnified party shall have the right to employ separate
counsel (including local counsel), and the indemnifying party shall bear the reasonable fees, costs
and expenses of such separate counsel if (i) the use of counsel chosen by the indemnifying party to
represent the indemnified party would present such counsel with a conflict of interest; (ii) the
actual or potential defendants in, or targets of, any such action include both the indemnified
party and the indemnifying party and the indemnified party shall have reasonably concluded that
there may be legal defenses available to it and/or other indemnified parties that are different
from or additional to those available to the indemnifying party; (iii) the indemnifying party shall
not have employed counsel reasonably satisfactory to the indemnified party to represent the
indemnified party within a reasonable time after notice of the institution of such action; or
(iv) the indemnifying party shall authorize the indemnified party to employ separate counsel at the
expense of the indemnifying party. An indemnifying party will not, without the prior written
consent of the indemnified

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parties (such consent not be to unreasonably withheld or delayed), settle or compromise or
consent to the entry of any judgment with respect to any pending or threatened claim, action, suit
or proceeding in respect of which indemnification or contribution may be sought hereunder (whether
or not the indemnified parties are actual or potential parties to such claim or action) unless such
settlement, compromise or consent includes an unconditional release of each indemnified party from
all liability arising out of such claim, action, suit or proceeding.

          (d) In the event that the indemnity provided in paragraph (a) or (b) of this Section is
unavailable to or insufficient to hold harmless an indemnified party for any reason, then each
applicable indemnifying party shall have a joint and several obligation to contribute to the
aggregate losses, claims, damages and liabilities (including legal or other expenses reasonably
incurred in connection with investigating or defending any loss, claim, liability, damage or
action) (collectively “ Losses “) to which such indemnified party may be subject in such
proportion as is appropriate to reflect the relative benefits received by such indemnifying party,
on the one hand, and such indemnified party, on the other hand, from the Initial Placement and the
Registration Statement which resulted in such Losses; provided , however , that in
no case shall any Initial Purchaser be responsible, in the aggregate, for any amount in excess of
the purchase discount or commission applicable to such Security, or in the case of a New Security,
applicable to the Security that was exchangeable into such New Security, nor shall any underwriter
be responsible for any amount in excess of the underwriting discount or commission applicable to
the securities purchased by such underwriter under the Registration Statement which resulted in
such Losses. If the allocation provided by the immediately preceding sentence is unavailable for
any reason, the indemnifying party and the indemnified party shall contribute in such proportion as
is appropriate to reflect not only such relative benefits but also the relative fault of such
indemnifying party, on the one hand, and such indemnified party, on the other hand, in connection
with the statements or omissions which resulted in such Losses as well as any other relevant
equitable considerations. Benefits received by the Issuer shall be deemed to be equal to the total
net proceeds from the Initial Placement (before deducting expenses) as set forth in the Offering
Memorandum. Benefits received by the Initial Purchasers shall be deemed to be equal to the total
purchase discounts and commissions as set forth on the cover page of the Offering Memorandum, and
benefits received by any other Holders shall be deemed to be equal to the value of receiving
Securities or New Securities, as applicable, registered under the Securities Act. Benefits received
by any underwriter shall be deemed to be equal to the total underwriting discounts and commissions,
as set forth on the cover page of the Prospectus-forming a part of the Registration Statement which
resulted in such Losses. Relative fault shall be determined by reference to, among other things,
whether any untrue or any alleged untrue statement of a material fact or omission or alleged
omission to state a material fact relates to information provided by the indemnifying party, on the
one hand, or by the indemnified party, on the other hand, 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 agree that it would not be just and equitable if contribution
were determined by pro rata allocation (even if the Holders were treated as one entity for such
purpose) or any other method of allocation which does not take account of the equitable
considerations referred to above. Notwithstanding the provisions of this paragraph (d), 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 of such fraudulent
misrepresentation. For purposes of this Section, each person who controls a Holder within

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the meaning of either the Securities Act or the Exchange Act and each director, officer, employee
and agent of such Holder shall have the same rights to contribution as such Holder, and each person
who controls any Issuer within the meaning of either the Securities Act or the Exchange Act, each
officer, director, employee and agent of Issuers who shall have signed the Registration Statement
and each director of the Issuers shall have the same rights to contribution as the Issuers, subject
in each case to the applicable terms and conditions of this paragraph (d).

          (e) The provisions of this Section will remain in full force and effect, regardless of any
investigation made by or on behalf of any Holder or the Issuers or any of the indemnified persons
referred to in this Section 6, and will survive the sale by a Holder of securities covered by a
Registration Statement.

          7. Underwritten Registrations.

          (a) If any of the Securities or New Securities, as the case may be, covered by any Shelf
Registration Statement are to be sold in an underwritten offering, the Managing Underwriters shall
be selected by the Majority Holders of the Class being sold.

          (b) No person may participate in any underwritten offering pursuant to any Shelf Registration
Statement, unless such person (i) agrees to sell such person’s Securities or New Securities, as the
case may be, of the Class being sold on the basis reasonably provided in any underwriting
arrangements approved by the persons entitled hereunder to approve such arrangements; and (ii)
completes and executes all questionnaires, powers of attorney, indemnities, underwriting agreements
and other documents reasonably required under the terms of such underwriting arrangements.

          8. Registration Defaults. The Issuers agree to pay, jointly and severally, as
liquidated damages, additional interest on the Senior Cash Pay Notes and/or the Senior Toggle
Notes, as applicable (“ Additional Interest ”) if:

     (a) on or prior to the 300th day after the Closing Date, the Issuers have not, if required
by Section 2, exchanged New Securities of the applicable Class for all Securities of such Class
tendered in accordance with the terms of a Registered Exchange Offer;

     (b) on or prior to the 300th day after the Closing Date, a Shelf Registration Statement,
relating to the applicable Class, if required by Section 3, has not been declared effective, if
applicable; or

     (c) any Registration Statement required by this Agreement has been declared effective but
ceases to be effective at any time at which it is required to be effective under this Agreement

(each such
event referred to in clauses (a) through (c) a “ Registration Default ”), then,
except during any suspension of the availability of the Shelf Registration and any related
Prospectus pursuant to Section 4(k)(ii), Additional Interest will accrue on the principal amount of
the applicable Class of Securities (in addition to the stated interest on the applicable set of
Securities) at a rate of 0.25 percent per annum (which rate will be increased by an additional 0.25
percent per annum

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for each subsequent 90-day period during which such Additional Interest continues to accrue;
provided that the rate at which such Additional Interest accrues may in no event exceed
0.50 percent per annum) commencing on (x) the 301st day after the date of this Agreement, in the
cases of subsections (a) and (b) above, or (y) the day on which such Shelf Registration Statement
ceases to be effective, in the case of subsection (c) above; provided , however ,
that upon the exchange of New Securities for all Securities tendered (in the case of subsection (a)
above), or upon the effectiveness of a Shelf Registration Statement (in the case of subsection (b)
above) or upon the effectiveness of the Registration Statement which had ceased to remain effective
(in the case of subsection (c) above), Additional Interest on such Securities as a result of such
subsection shall cease to accrue.

          9. No Inconsistent Agreements. Each Issuer has not entered into, and agrees not to
enter into, any agreement with respect to its securities that is inconsistent with the rights
granted to the Holders herein or that otherwise conflicts with the provisions hereof.

          10. Amendments and Waivers. The provisions of this Agreement may not be amended,
qualified, modified or supplemented, and waivers or consents to departures from the provisions
hereof may not be given, unless the Issuers have obtained the written consent of the Holders of a
majority of the Registrable Securities outstanding; provided that, with respect to any
matter that directly or indirectly affects the rights of any Initial Purchaser hereunder, the
Issuers shall obtain the written consent of each such Initial Purchaser against which such
amendment, qualification, supplement, waiver or consent is to be effective; provided ,
further , that no amendment, qualification, supplement, waiver or consent with respect to
Section 8 hereof shall be effective as against any Holder of Registrable Securities unless
consented to in writing by such Holder; and provided , further , that the
provisions of this Section 10 may not be amended, qualified, modified or supplemented, and waivers
or consents to departures from the provisions hereof may not be given, unless the Issuers have
obtained the written consent of the Initial Purchasers and each Holder. Notwithstanding the
foregoing (except the foregoing provisos), a waiver or consent to departure from the provisions
hereof with respect to a matter that relates exclusively to the rights of Holders whose Securities
or New Securities, as the case may be, are being sold pursuant to a Registration Statement and that
does not directly or indirectly affect the rights of other Holders may be given by the Majority
Holders of the applicable Class registered under such Registration Statement, determined on the
basis of Securities or New Securities, as the case may be, being sold rather than registered under
such Registration Statement.

          11. Notices. All notices, requests and other communications provided for or permitted
hereunder shall be made in writing by hand-delivery, first-class mail, telex, telecopier or air
courier guaranteeing overnight delivery:

     (a) if to a Holder, at the most current address given by such Holder to the Issuers in
accordance with the provisions of this Section 11, which address initially is, with respect to
each Holder, the address of such Holder maintained by the Trustee under the Indenture;

     (b) if to the Representatives, initially at the address or addresses set forth in the
Purchase Agreement; and

-21-

 

          (c) if to the Issuers, initially at 200 East Basse Road, San Antonio, Texas 78209.

          All such notices and communications shall be deemed to have been duly given when received.

          The Initial Purchasers or the Issuers by notice to the other parties may designate additional
or different addresses for subsequent notices or communications.

          12. Successors. This Agreement shall inure to the benefit of and be binding upon the
parties hereto, their respective successors and assigns, including, without the need for an express
assignment or any consent by the Issuers thereto, subsequent Holders of Securities and the New
Securities, and the indemnified persons referred to in Section 6 hereof. The Issuers hereby agree
to extend the benefits of this Agreement to any Holder of Securities and the New Securities, and
any such Holder may specifically enforce the provisions of this Agreement as if an original party
hereto.

          13. Counterparts. This Agreement may be signed in one or more counterparts, each of
which shall constitute an original and all of which together shall constitute one and the same
agreement.

          14. Headings. The section headings used herein are for convenience only and shall not
affect the construction hereof.

          15. Applicable Law. This Agreement shall be governed by and construed in accordance
with the laws of the State of New York applicable to contracts made and to be performed in the
State of New York. The parties hereto each hereby waive, to the fullest extent permitted by
applicable law, any right to trial by jury in any action, proceeding or counterclaim arising out of
or relating to this Agreement.

          16. Severability. In the event that any one of more of the provisions contained
herein, or the application thereof in any circumstances, is held invalid, illegal or unenforceable
in any respect for any reason, the validity, legality and enforceability of any such provision in
every other respect and of the remaining provisions hereof shall not be in any way impaired or
affected thereby, it being intended that all of the rights and privileges of the parties shall be
enforceable to the fullest extent permitted by law.

          17. Securities Held by the Issuers, etc. Whenever the consent or approval of Holders
of a specified percentage of principal amount of either Class of Securities or New Securities, as
applicable, is required hereunder, such Securities or New Securities, as applicable, held by the
Issuers or their Affiliates (other than subsequent Holders of either Class of Securities or New
Securities if such subsequent Holders are deemed to be Affiliates solely by reason of their
holdings of such Securities or New Securities) shall not be counted in determining whether such
consent or approval was given by the Holders of such required percentage.

-22-

 

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

	 	 	 	 	 
	 	CLEAR CHANNEL COMMUNICATIONS, INC.

 	 
	 	By:  	/s/ Mark P. Mays
 	 
	 	 	Name:  	Mark P. Mays 	 
	 	 	Title:  	Chief Executive Officer and

Chief Operating Officer 	 
	 

Registration Rights Agreement

 

 

	 	 	 	 	 
	 	CLEAR CHANNEL CAPITAL I, LLC

 	 
	 	By:  	/s/ Edward J. Han
 	 
	 	 	Name:  	Edward J. Han 	 
	 	 	Title:  	Manager and Authorized Signatory 	 
	 

Registration Rights Agreement

 

 

ACKERLEY VENTURES, INC.

AK MOBILE TELEVISION, INC.

AMFM AIR SERVICES, INC.

AMFM BROADCASTING, INC.

AMFM HOLDINGS INC.

AMFM INC.

AMFM INTERNET HOLDING INC.

AMFM OPERATING INC.

AMFM RADIO GROUP, INC.

AMFM SHAMROCK TEXAS, INC.

AMFM.COM INC.

BEL MEADE BROADCASTING COMPANY, INC.

BROADCAST ARCHITECTURE, INC.

BROADCAST FINANCE, INC.

CAPSTAR BROADCASTING PARTNERS, INC.

CAPSTAR RADIO OPERATING COMPANY

CC BROADCAST HOLDINGS, INC.

CC HOLDINGS-NEVADA, INC.

CC IDENTITY HOLDINGS, INC.

CCBL FCC HOLDINGS, INC.

CENTRAL NY NEWS, INC.

CHRISTAL RADIO SALES, INC.

CINE GUARANTORS II, INC.

CITICASTERS CO.

CITICASTERS FCC HOLDINGS, INC.

CLEAR CHANNEL BROADCASTING LICENSES, INC.

CLEAR CHANNEL BROADCASTING, INC.

CLEAR CHANNEL COMPANY STORE, INC.

CLEAR CHANNEL HOLDINGS, INC.

CLEAR CHANNEL INTANGIBLES, INC.

CLEAR CHANNEL INVESTMENTS, INC.

CLEAR CHANNEL MEXICO HOLDINGS, INC.

CLEAR CHANNEL SATELLITE SERVICES, INC.

CLEAR CHANNEL WIRELESS, INC.

CLEARMART, INC.

CONCORD MEDIA GROUP, INC.

CRITICAL MASS MEDIA, INC.

JACOR BROADCASTING CORPORATION

JACOR BROADCASTING OF COLORADO, INC.

JACOR BROADCASTING OF DENVER, INC.

JACOR COMMUNICATIONS COMPANY

JACOR/PREMIERE HOLDING, INC.

	 	 	 	 	 
	By:  	/s/ Brian Coleman
 	 
	 	Name:  	Brian Coleman                         	 
	 	Title:  	Senior Vice President/Treasurer 	 
	 

Registration Rights Agreement

 

 

KATZ COMMUNICATIONS, INC.

KATZ MEDIA GROUP, INC.

KATZ MILLENNIUM SALES & MARKETING INC.

KATZ NET RADIO SALES, INC.

KTZMEDIA CORPORATION

M STREET CORPORATION

PREMIERE RADIO NETWORKS, INC.

RADIO-ACTIVE MEDIA, INC.

TERRESTRIAL RF LICENSING, INC.

THE NEW RESEARCH GROUP, INC.

ACKERLEY BROADCASTING FRESNO, LLC

ACKERLEY BROADCASTING OPERATIONS, LLC

CC IDENTITY GP, LLC

CC LICENSES, LLC

CCBL GP, LLC

CLEAR CHANNEL COLLECTIVE MARKETING, LLC

CLEAR CHANNEL GP, LLC

CLEAR CHANNEL REAL ESTATE, LLC

	 	 	 	 	 
	 	 
	By:  	/s/ Hamlet T. Newsom, Jr.
 	 
	 	Name:  	Hamlet T. Newsom, Jr.           	 
	 	Title:  	Assistant Secretary 	 

	 	 	 	 	 
	AMFM BROADCASTING LICENSES, LLC 

By AMFM BROADCASTING, INC. 

Its sole member 

 	 
	By:  	/s/ Hamlet T. Newsom, Jr.
 	 
	 	Name:  	Hamlet T. Newsom, Jr.           	 
	 	Title:  	Assistant Secretary 	 
	 
	AMFM MICHIGAN, LLC 

By CAPSTAR TX LIMITED PARTNERSHIP 

Its sole member 

By AMFM SHAMROCK TEXAS, INC. 

Its General Partner 

 	 
	By:  	/s/ Hamlet T. Newsom, Jr.
 	 
	 	Name:  	Hamlet T. Newsom, Jr.           	 
	 	Title:  	Assistant Secretary 	 

Registration Rights Agreement

 

 

	 	 	 	 	 
	AMFM RADIO LICENSES, LLC 

By CAPSTAR RADIO OPERATING COMPANY 

Its sole member 

 	 
	By:  	/s/ Hamlet T. Newsom, Jr.
 	 
	 	Name:  	Hamlet T. Newsom, Jr.           	 
	 	Title:  	Assistant Secretary 	 
	AMFM TEXAS, LLC 

By AMFM BROADCASTING, INC. 

Its sole member 

 	 
	By:  	/s/ Hamlet T. Newsom, Jr.
 	 
	 	Name:  	Hamlet T. Newsom, Jr.           	 
	 	Title:  	Assistant Secretary 	 

	 	 	 	 	 
	CITI GP, LLC 

By CITICASTERS CO. 

Its sole member 

 	 
	By:  	/s/ Hamlet T. Newsom, Jr.
 	 
	 	Name:  	Hamlet T. Newsom, Jr.           	 
	 	Title:  	Assistant Secretary 	 
	 
	CLEAR CHANNEL AVIATION, LLC 

By RADIO-ACTIVE MEDIA, INC. 

Its sole member 

 	 
	By:  	/s/ Hamlet T. Newsom, Jr.
 	 
	 	Name:  	Hamlet T. Newsom, Jr.           	 
	 	Title:  	Assistant Secretary 	 

	 	 	 	 	 
	M STREET L.L.C. 

By CRITICAL MASS MEDIA, INC. 

Its Managing Member 

 	 
	By:  	/s/ Hamlet T. Newsom, Jr.
 	 
	 	Name:  	Hamlet T. Newsom, Jr.           	 
	 	Title:  	Assistant Secretary 	 
	 

Registration Rights Agreement

 

 

MUSICPOINT INTERNATIONAL, L.L.C.

By CLEAR CHANNEL MANAGEMENT SERVICES, L.P.

Its sole member

	 	 	 	 	 
	By CLEAR CHANNEL GP, LLC 

Its General Partner 

 	 
	By:  	/s/ Hamlet T. Newsom, Jr.
 	 
	 	Name:  	Hamlet T. Newsom, Jr.           	 
	 	Title:  	Assistant Secretary 	 
	 
	WESTCHESTER RADIO, L.L.C. 

By CAPSTAR RADIO OPERATING COMPANY 

Its sole member 

 	 
	By:  	/s/ Hamlet T. Newsom, Jr.
 	 
	 	Name:  	Hamlet T. Newsom, Jr.           	 
	 	Title:  	Assistant Secretary 	 

	 	 	 	 	 
	AMFM TEXAS BROADCASTING, LP 

By AMFM BROADCASTING, INC. 

Its General Partner 

 	 
	By:  	/s/ Hamlet T. Newsom, Jr.
 	 
	 	Name:  	Hamlet T. Newsom, Jr.           	 
	 	Title:  	Assistant Secretary 	 
	 
	AMFM TEXAS LICENSES, LP 

By AMFM SHAMROCK TEXAS, INC. 

Its General Partner 
, 	 
	By:  	/s/ Hamlet T. Newsom, Jr.
 	 
	 	Name:  	Hamlet T. Newsom, Jr.           	 
	 	Title:  	Assistant Secretary 	 

	 	 	 	 	 
	CAPSTAR TX LIMITED PARTNERSHIP 

By AMFM SHAMROCK TEXAS, INC. 

Its General Partner 

 	 
	By:  	/s/ Hamlet T. Newsom, Jr.
 	 
	 	Name:  	Hamlet T. Newsom, Jr.           	 
	 	Title:  	Assistant Secretary 	 
	 

Registration Rights Agreement

 

 

	 	 	 	 	 	 
	CCB TEXAS LICENSES, L.P. 

By CCBL GP, LLC 

Its General Partner 

 	 
	By:  	/s/ Hamlet T. Newsom, Jr.
 	 
	 	Name:  	Hamlet T. Newsom, Jr.           	 
	 	Title:  	Assistant Secretary 	 
	 
	CITICASTERS LICENSES, L.P. 

By CITI GP, LLC 

Its General Partner 

By CITICASTERS CO. 

Its sole member 

 	 
	By:  	/s/ Hamlet T. Newsom, Jr.
 	 
	 	Name:  	Hamlet T. Newsom, Jr.           	 
	 	Title:  	Assistant Secretary 	 

	 	 	 	 	 
	CLEAR CHANNEL IDENTITY, L.P. 

By CC IDENTITY GP, LLC 

Its General Partner 

 	 
	By:  	/s/ Hamlet T. Newsom, Jr.
 	 
	 	Name:  	Hamlet T. Newsom, Jr.           	 
	 	Title:  	Assistant Secretary 	 
	 
	CLEAR CHANNEL MANAGEMENT SERVICES, L.P. 

By CLEAR CHANNEL GP, LLC 

Its General Partner 

 	 
	By:  	/s/ Hamlet T. Newsom, Jr.
 	 
	 	Name:  	Hamlet T. Newsom, Jr.           	 
	 	Title:  	Assistant Secretary 	 
	 

Registration Rights Agreement

 

 

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

	 	 	 	 	 
	DEUTSCHE BANK SECURITIES INC. 

 	 
	By:  	/s/ Sean Murphy
 	 
	 	Name:  	Sean Murphy                   	 
	 	Title:  	Managing Director 	 
	 
	 	 
	By:  	/s/ Scott Sartorius
 	 
	 	Name:  	Scott Sartorius               	 
	 	Title:  	Director 	 

	 	 	 	 	 
	MORGAN STANLEY & CO. INCORPORATED 

 	 
	By:  	/s/ Gene Martin
 	 
	 	Name:  	Gene Martin                   	 
	 	Title:  	Managing Director 	 
	 
	CITIGROUP GLOBAL MARKETS INC. 

 	 
	By:  	/s/ Timothy P. Dilworth
 	 
	 	Name:  	Timothy P. Dilworth           	 
	 	Title:  	Director 	 

	 	 	 	 	 
	CREDIT SUISSE SECURITIES (USA) LLC 

 	 
	By:  	/s/ SoVonna Day-Goins
 	 
	 	Name:  	SoVonna Day-Goins             	 
	 	Title:  	Managing Director 	 
	 

Registration Rights Agreement

 

 

	 	 	 	 	 
	GREENWICH CAPITAL MARKETS, INC. 
 	 
	By:  	/s/ Steven F. Killileg
 	 
	 	Name:  	Steven Killileg                   	 
	 	Title:  	Managing Director 	 
	 
	WACHOVIA CAPITAL MARKETS, LLC 

 	 
	By:  	/s/ Charles C. Edwards, III
 	 
	 	Name:  	Charles C. Edwards, III           	 
	 	Title:  	Director 	 
	 

Registration Rights Agreement

 

 

ANNEX A

Guarantors

Ackerley Broadcasting Operations, LLC

Ackerley Ventures, Inc.

AK Mobile Television, Inc.

AMFM Air Services, Inc.

AMFM Broadcasting Licenses, LLC

AMFM Broadcasting, Inc.

AMFM Holdings Inc.

AMFM Inc.

AMFM Internet Holding Inc.

AMFM Michigan, LLC

AMFM Operating Inc.

AMFM Radio Group, Inc.

AMFM Radio Licenses, LLC

AMFM Shamrock Texas, Inc.

AMFM Texas Broadcasting, LP

AMFM Texas Licenses, LP

AMFM Texas, LLC

AMFM.com Inc.

Bel Meade Broadcasting Company, Inc.

Broadcast Architecture, Inc.

Broadcast Finance, Inc.

Capstar Broadcasting Partners, Inc.

Capstar Radio Operating Company

Capstar TX Limited Partnership

CC Broadcast Holdings, Inc.

CC Holdings-Nevada, Inc.

CC Identity GP, LLC

CC Identity Holdings, Inc.

CC Licenses, LLC

CCB Texas Licenses, L.P.

CCBL FCC Holdings, Inc.

CCBL GP, LLC

Central NY News, Inc.

Christal Radio Sales, Inc.

Cine Guarantors II, Inc.

Citi GP, LLC

Citicasters Co.

Citicasters FCC Holdings, Inc.

Citicasters Licenses, L.P.

Clear Channel Aviation, LLC

Clear Channel Broadcasting Licenses, Inc.

Clear Channel Broadcasting, Inc.

Clear Channel Capital I, LLC

Clear Channel Collective Marketing, LLC

Clear Channel Company Store, Inc.

Clear Channel GP, LLC

Clear Channel Holdings, Inc.

Clear Channel Identity, L.P.

Clear Channel Intangibles, Inc.

Clear Channel Investments, Inc.

Clear Channel Management Services, L.P.

Clear Channel Mexico Holdings, Inc.

Clear Channel Real Estate, LLC

Clear Channel Satellite Services, Inc.

Clear Channel Wireless, Inc.

Clearmart, Inc.

Concord Media Group, Inc.

Critical Mass Media, Inc.

Jacor Broadcasting Corporation

Jacor Broadcasting of Colorado, Inc.

Jacor Broadcasting of Denver, Inc.

Jacor Communications Company

Jacor/Premiere Holding, Inc.

Katz Communications, Inc.

Katz Media Group, Inc.

Katz Millennium Sales & Marketing Inc.

Katz Net Radio Sales, Inc.

KTZMedia Corporation

M Street Corporation

M Street L.L.C.

Musicpoint International, L.L.C.

Premiere Radio Networks, Inc.

Radio-Active Media, Inc.

Terrestrial RF Licensing, Inc.

The New Research Group, Inc.

Westchester Radio, L.L.C.

A-1

 

ANNEX B

          Each broker-dealer that receives new securities for its own account pursuant to the Exchange
Offer must acknowledge that it will deliver a prospectus in connection with any resale of such new
securities. The Letter of Transmittal states that by so acknowledging and by delivering a
prospectus, a broker-dealer will not be deemed to admit that it is an “underwriter” within the
meaning of the Securities Act. This prospectus, as it may be amended or supplemented from time to
time, may be used by a broker-dealer in connection with resales of new securities received in
exchange for securities where such securities were acquired by such broker-dealer as a result of
market-making activities or other trading activities. The issuers have agreed that, starting on
the expiration date of the exchange offer and ending on the close of business 180 days after the
expiration of the exchange offer, they will make this prospectus available to any broker-dealer for
use in connection with any such resale. See “Plan of Distribution.”

B-1

 

ANNEX C

          Each broker-dealer that receives new securities for its own account in exchange for
securities, where such securities were acquired by such broker-dealer as a result of market-making
activities or other trading activities, must acknowledge that it will deliver a prospectus in
connection with any resale of such new securities. See “Plan of Distribution.”

C-1

 

ANNEX D

PLAN OF DISTRIBUTION

          Each broker-dealer that receives new securities for its own account pursuant to the Exchange
Offer must acknowledge that it will deliver a prospectus in connection with any resale of such new
securities. This prospectus, as it may be amended or supplemented from time to time, may be used
by a broker-dealer in connection with resales of new securities received in exchange for securities
where such securities were acquired as a result of market-making activities or other trading
activities. The issuers have agreed that, starting on the expiration date of the Exchange Offer
and ending on the close of business 180 days after the expiration date of the Exchange Offer, they
will make this prospectus, as amended or supplemented, available to any broker-dealer for use in
connection with any such resale. In addition, until _________, ______, all dealers effecting
transactions in the new securities may be required to deliver a prospectus.

          The issuers will not receive any proceeds from any sale of new securities by broker-dealers.
New securities received by broker-dealers for their own account pursuant to the Exchange Offer may
be sold from time to time in one or more transactions in the over-the-counter market, in negotiated
transactions, through the writing of options on the new securities or a combination of such methods
of resale, at market prices prevailing at the time of resale, at prices related to such prevailing
market prices or negotiated prices. Any such resale may be made directly to purchasers or to or
through brokers or dealers who may receive compensation in the form of commissions or concessions
from any such broker-dealer and/or the purchasers of any such new securities. Any broker-dealer
that resells new securities that were received by it for its own account pursuant to the Exchange
Offer and any broker or dealer that participates in a distribution of such new securities may be
deemed to be an “underwriter” within the meaning of the Securities Act and any profit of any such
resale of new securities and any commissions or concessions received by any such persons may be
deemed to be underwriting compensation under the Securities Act. The Letter of Transmittal states
that by acknowledging that it will deliver and by delivering a prospectus, a broker-dealer will not
be deemed to admit that it is an “underwriter” within the meaning of the Securities Act.

          For a period of 180 days after the expiration of the Exchange Offer, the issuers will promptly
send additional copies of this prospectus and any amendment or supplement to this prospectus to any
broker-dealer that requests such documents in the Letter of Transmittal. The issuers have agreed
to pay all expenses incident to the Exchange Offer (including the expenses of one counsel for the
holder of the securities) other than commissions or concessions of any brokers or dealers and will
indemnify the holders of the securities (including any broker-dealers) against certain liabilities,
including liabilities under the Securities Act.

          [If applicable, add information required by Regulation S-K Items 507 and/or 508.]

D-1

 

ANNEX E

Rider A

PLEASE FILL IN YOUR NAME AND ADDRESS BELOW IF YOU ARE A BROKER-DEALER AND WISH TO RECEIVE 10
ADDITIONAL COPIES OF THE PROSPECTUS AND 10 COPIES OF ANY AMENDMENTS OR SUPPLEMENTS THERETO.

	 	 	 	 	 
	Name:
	 	 	 	 
	Address:

	 	 

	 	 
	 

	 	 

	 	 
	 

	 	 	 	 

Rider B

If the undersigned is not a broker-dealer, the undersigned represents that it acquired the New
Securities in the ordinary course of its business, it is not engaged in, and does not intend to
engage in, a distribution of New Securities and it has no arrangements or understandings with any
person to participate in a distribution of the New Securities. If the undersigned is a
broker-dealer that will receive New Securities for its own account in exchange for Securities, it
represents that the Securities to be exchanged for New Securities were acquired by it as a result
of [market-making activities] or other trading activities and acknowledges that it will deliver a
prospectus in connection with any resale of such New Securities; however, by so acknowledging and
by delivering a prospectus, the undersigned will not be deemed to admit that it is an “underwriter”
within the meaning of the Securities Act.

E-1

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